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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net income $ 60,188 $ 27,202 $ 40,132
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (6,985) (1,157) (2,547)
Depreciation and amortization 96,205 107,093 83,278
Amortization of debt issuance costs and debt fair value adjustments 1,467 1,530 3,058
Gain on sale of real estate 633 0 0
Stock-based compensation expense 4,477 3,039 4,735
Settlement of forward interest rate swap agreement 513 0 10,667
Lease termination income (4,518) 0 0
Other noncash interest expense (1,304) (1,279) (1,114)
Other, net 6,497 383 901
Changes in operating assets and liabilities      
Change in accounts receivable (1,071) (336) (1,116)
Change in other assets (2,420) (227) (499)
Change in accounts payable and accrued expenses 5,956 (3,297) 7,632
Change in security deposits payable (971) 2,274 456
Change in other liabilities and deferred credits (3,585) 1,282 270
Net cash provided by operating activities 153,816 136,507 145,853
INVESTING ACTIVITIES      
Acquisition of real estate, net 507,780 0 278,141
Capital expenditures (88,327) (54,411) (47,496)
Proceeds from sale of real estate, net of selling costs 8,191 0 0
Leasing commissions (11,267) (9,936) (4,927)
Net cash used in investing activities (599,183) (64,347) (330,564)
FINANCING ACTIVITIES      
Repayment of secured notes payable (20,762) (97,124) (167,139)
Proceeds from unsecured line of credit 59,000 84,000 173,000
Repayment of unsecured line of credit 123,000 20,000 193,000
Proceeds from issuance of unsecured notes payable 150,000 0 450,000
Debt issuance costs (1,103) (2,727) (2,401)
Proceeds from issuance of common stock, net 515,354 (236) 29,873
Dividends paid to common stock and unitholders (80,605) (70,228) (67,537)
Shares withheld for employee taxes (1,338) (527) (882)
Net cash provided by (used in) financing activities 497,546 (106,842) 221,914
Net (decrease) increase in cash and cash equivalents 52,179 (34,682) 37,203
Cash, cash equivalents and restricted cash, beginning of year 57,272 91,954 54,751
Cash, cash equivalents and restricted cash, end of year 109,451 57,272 91,954
Cash and cash equivalents 99,303 47,956 82,610
Restricted cash 10,148 9,316 9,344
American Assets Trust, L.P.      
OPERATING ACTIVITIES      
Net income 60,188 27,202 40,132
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (6,985) (1,157) (2,547)
Depreciation and amortization 96,205 107,093 83,278
Amortization of debt issuance costs and debt fair value adjustments 1,467 1,530 3,058
Gain on sale of real estate 633 0 0
Stock-based compensation expense 4,477 3,039 4,735
Settlement of forward interest rate swap agreement 513 0 10,667
Lease termination income (4,518) 0 0
Other noncash interest expense (1,304) (1,279) (1,114)
Other, net 6,497 383 901
Changes in operating assets and liabilities      
Change in accounts receivable (1,071) (336) (1,116)
Change in other assets (2,420) (227) (499)
Change in accounts payable and accrued expenses 5,956 (3,297) 7,632
Change in security deposits payable (971) 2,274 456
Change in other liabilities and deferred credits (3,585) 1,282 270
Net cash provided by operating activities 153,816 136,507 145,853
INVESTING ACTIVITIES      
Acquisition of real estate, net 507,780 0 278,141
Capital expenditures (88,327) (54,411) (47,496)
Proceeds from sale of real estate, net of selling costs 8,191 0 0
Leasing commissions (11,267) (9,936) (4,927)
Net cash used in investing activities (599,183) (64,347) (330,564)
FINANCING ACTIVITIES      
Repayment of secured notes payable (20,762) (97,124) (167,139)
Proceeds from unsecured line of credit 59,000 84,000 173,000
Repayment of unsecured line of credit 123,000 20,000 193,000
Proceeds from issuance of unsecured notes payable 150,000 0 450,000
Debt issuance costs (1,103) (2,727) (2,401)
Contributions from American Assets Trust, Inc. 515,354 (236) 29,873
Dividends paid to common stock and unitholders (80,605) (70,228) (67,537)
Shares withheld for employee taxes (1,338) (527) (882)
Net cash provided by (used in) financing activities 497,546 (106,842) 221,914
Net (decrease) increase in cash and cash equivalents 52,179 (34,682) 37,203
Cash, cash equivalents and restricted cash, beginning of year 57,272 91,954 54,751
Cash, cash equivalents and restricted cash, end of year 109,451 57,272 91,954
Cash and cash equivalents 99,303 47,956 82,610
Restricted cash $ 10,148 $ 9,316 $ 9,344