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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net income $ 25,310 $ 27,184
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (13,191) 2,562
Depreciation and amortization 53,955 43,165
Amortization of debt issuance costs and debt fair value adjustments 742 724
Provision for uncollectable rental income 3,849 520
Gain on sale of real estate 0 (633)
Stock-based compensation expense 2,502 2,229
Lease termination income 0 (4,518)
Other noncash interest expense (665) (639)
Other, net (2,833) (900)
Changes in operating assets and liabilities    
Change in accounts receivable (3,822) (177)
Change in other assets 903 1,305
Change in accounts payable and accrued expenses 3,792 3,453
Change in security deposits payable (631) (1,380)
Change in other liabilities and deferred credits (789) (2,726)
Net cash provided by operating activities 69,122 70,169
INVESTING ACTIVITIES    
Acquisition of real estate 0 507,780
Capital expenditures (35,241) (47,838)
Proceeds from sale of real estate, net of selling costs 0 8,191
Leasing commissions (3,892) (2,623)
Net cash used in investing activities (39,133) (550,050)
FINANCING ACTIVITIES    
Repayment of secured notes payable (51,003) (20,187)
Proceeds from unsecured line of credit 100,000 59,000
Repayment of unsecured line of credit 0 (28,000)
Debt issuance costs 0 (424)
Proceeds from issuance of common stock, net (119) 503,014
Dividends paid to common stock and unitholders (38,230) (36,314)
Net cash provided by financing activities 10,648 477,089
Net increase (decrease) in cash and cash equivalents 40,637 (2,792)
Cash, cash equivalents and restricted cash, beginning of period 109,451 57,272
Cash, cash equivalents and restricted cash, end of period 150,088 54,480
Cash and cash equivalents 146,131 44,778
Restricted cash 3,957 9,702
American Assets Trust, L.P.    
OPERATING ACTIVITIES    
Net income 25,310 27,184
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (13,191) 2,562
Depreciation and amortization 53,955 43,165
Amortization of debt issuance costs and debt fair value adjustments 742 724
Provision for uncollectable rental income 3,849 520
Gain on sale of real estate 0 (633)
Stock-based compensation expense 2,502 2,229
Lease termination income 0 (4,518)
Other noncash interest expense (665) (639)
Other, net (2,833) (900)
Changes in operating assets and liabilities    
Change in accounts receivable (3,822) (177)
Change in other assets 903 1,305
Change in accounts payable and accrued expenses 3,792 3,453
Change in security deposits payable (631) (1,380)
Change in other liabilities and deferred credits (789) (2,726)
Net cash provided by operating activities 69,122 70,169
INVESTING ACTIVITIES    
Acquisition of real estate 0 507,780
Capital expenditures (35,241) (47,838)
Proceeds from sale of real estate, net of selling costs 0 8,191
Leasing commissions (3,892) (2,623)
Net cash used in investing activities (39,133) (550,050)
FINANCING ACTIVITIES    
Repayment of secured notes payable (51,003) (20,187)
Proceeds from unsecured line of credit 100,000 59,000
Repayment of unsecured line of credit 0 (28,000)
Debt issuance costs 0 (424)
Contributions from American Assets Trust, Inc. (119) 503,014
Dividends paid to common stock and unitholders (38,230) (36,314)
Net cash provided by financing activities 10,648 477,089
Net increase (decrease) in cash and cash equivalents 40,637 (2,792)
Cash, cash equivalents and restricted cash, beginning of period 109,451 57,272
Cash, cash equivalents and restricted cash, end of period 150,088 54,480
Cash and cash equivalents 146,131 44,778
Restricted cash $ 3,957 $ 9,702