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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income $ 15,484 $ 15,243
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (3,762) (1,111)
Depreciation and amortization 27,462 20,583
Amortization of debt issuance costs and debt fair value adjustments 374 368
Stock-based compensation expense 1,250 1,098
Lease termination income 0 (4,518)
Other noncash interest expense (333) (320)
Other, net (3,570) 678
Changes in operating assets and liabilities    
Change in accounts receivable 3,632 466
Change in other assets 616 45
Change in accounts payable and accrued expenses 4,435 7,150
Change in security deposits payable 30 (1,265)
Change in other liabilities and deferred credits (257) (1,586)
Net cash provided by operating activities 45,361 36,831
INVESTING ACTIVITIES    
Capital expenditures (20,531) (20,932)
Leasing commissions (3,394) (1,505)
Net cash used in investing activities (23,925) (22,437)
FINANCING ACTIVITIES    
Repayment of secured notes payable (51,003) (19,909)
Proceeds from unsecured line of credit 0 24,000
Debt issuance costs 0 (415)
Proceeds from issuance of common stock, net (119) 7,034
Dividends paid to common stock and unitholders (22,937) (18,061)
Net cash used in financing activities (74,059) (7,351)
Net (decrease) increase in cash and cash equivalents (52,623) 7,043
Cash, cash equivalents and restricted cash, beginning of period 109,451 57,272
Cash, cash equivalents and restricted cash, end of period 56,828 64,315
Cash and cash equivalents 52,371 54,538
Restricted cash 4,457 9,777
American Assets Trust, L.P.    
OPERATING ACTIVITIES    
Net income 15,484 15,243
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (3,762) (1,111)
Depreciation and amortization 27,462 20,583
Amortization of debt issuance costs and debt fair value adjustments 374 368
Stock-based compensation expense 1,250 1,098
Lease termination income 0 (4,518)
Other noncash interest expense (333) (320)
Other, net (3,570) 678
Changes in operating assets and liabilities    
Change in accounts receivable 3,632 466
Change in other assets 616 45
Change in accounts payable and accrued expenses 4,435 7,150
Change in security deposits payable 30 (1,265)
Change in other liabilities and deferred credits (257) (1,586)
Net cash provided by operating activities 45,361 36,831
INVESTING ACTIVITIES    
Capital expenditures (20,531) (20,932)
Leasing commissions (3,394) (1,505)
Net cash used in investing activities (23,925) (22,437)
FINANCING ACTIVITIES    
Repayment of secured notes payable (51,003) (19,909)
Proceeds from unsecured line of credit 0 24,000
Debt issuance costs 0 (415)
Contributions from American Assets Trust, Inc. (119) 7,034
Dividends paid to common stock and unitholders (22,937) (18,061)
Net cash used in financing activities (74,059) (7,351)
Net (decrease) increase in cash and cash equivalents (52,623) 7,043
Cash, cash equivalents and restricted cash, beginning of period 109,451 57,272
Cash, cash equivalents and restricted cash, end of period 56,828 64,315
Cash and cash equivalents 52,371 54,538
Restricted cash $ 4,457 $ 9,777