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Consolidated Statements of Cash Flows (Unaudited)
3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
shares
Sep. 30, 2020
USD ($)
shares
Sep. 30, 2019
USD ($)
OPERATING ACTIVITIES      
Net income $ 6,490,000 $ 31,800,000 $ 43,703,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles   (20,025,000) (3,652,000)
Depreciation and amortization   80,869,000 69,733,000
Amortization of debt issuance costs and debt fair value adjustments   1,109,000 1,096,000
Provision for uncollectable rental income   10,803,000 933,000
Gain on sale of real estate 0 0 (633,000)
Stock-based compensation expense   3,753,000 3,359,000
Settlement of derivative instruments   0 513,000
Lease termination income   0 (4,518,000)
Unrealized loss on hedging activities   551,000 0
Other noncash interest expense   (997,000) (972,000)
Other, net   (3,208,000) 795,000
Changes in operating assets and liabilities      
Change in accounts receivable   (7,502,000) 732,000
Change in other assets   1,453,000 (22,000)
Change in accounts payable and accrued expenses   13,787,000 16,461,000
Change in security deposits payable   (1,787,000) (1,433,000)
Change in other liabilities and deferred credits   (1,457,000) (3,983,000)
Net cash provided by operating activities   109,149,000 122,112,000
INVESTING ACTIVITIES      
Acquisition of real estate   0 (507,780,000)
Capital expenditures   (48,690,000) (65,549,000)
Proceeds from sale of real estate, net of selling costs   0 8,191,000
Leasing commissions   (4,884,000) (8,892,000)
Net cash used in investing activities   (53,574,000) (574,030,000)
FINANCING ACTIVITIES      
Repayment of secured notes payable   (51,003,000) (20,468,000)
Proceeds from unsecured line of credit   100,000,000 59,000,000
Repayment of unsecured line of credit   0 (123,000,000)
Proceeds from unsecured notes payable   0 150,000,000
Debt issuance costs   0 (1,091,000)
Proceeds from issuance of common stock, net   (119,000) 513,934,000
Dividends paid to common stock and unitholders   (57,346,000) (57,667,000)
Net cash (used in) provided by financing activities   (8,468,000) 520,708,000
Net increase (decrease) in cash and cash equivalents   47,107,000 68,790,000
Cash, cash equivalents and restricted cash, beginning of period   109,451,000 57,272,000
Cash, cash equivalents and restricted cash, end of period 156,558,000 156,558,000 126,062,000
Cash and cash equivalents 155,327,000 155,327,000 115,568,000
Restricted cash $ 1,231,000 1,231,000 10,494,000
Common Shares      
FINANCING ACTIVITIES      
Conversion of operating partnership units (in shares) | shares 209,011    
Conversion of operating partnership units $ 2,000    
Additional Paid-in Capital      
FINANCING ACTIVITIES      
Conversion of operating partnership units (12,003,000)    
Accumulated Other Comprehensive Income (Loss)      
FINANCING ACTIVITIES      
Conversion of operating partnership units 3,000    
Noncontrolling Interests - Unitholders in the Operating Partnership      
OPERATING ACTIVITIES      
Net income 1,365,000    
FINANCING ACTIVITIES      
Conversion of operating partnership units 11,998,000    
American Assets Trust, L.P.      
OPERATING ACTIVITIES      
Net income 6,490,000 31,800,000 43,703,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles   (20,025,000) (3,652,000)
Depreciation and amortization   80,869,000 69,733,000
Amortization of debt issuance costs and debt fair value adjustments   1,109,000 1,096,000
Provision for uncollectable rental income   10,803,000 933,000
Gain on sale of real estate 0 0 (633,000)
Stock-based compensation expense   3,753,000 3,359,000
Settlement of derivative instruments   0 513,000
Lease termination income   0 (4,518,000)
Unrealized loss on hedging activities   551,000 0
Other noncash interest expense   (997,000) (972,000)
Other, net   (3,208,000) 795,000
Changes in operating assets and liabilities      
Change in accounts receivable   (7,502,000) 732,000
Change in other assets   1,453,000 (22,000)
Change in accounts payable and accrued expenses   13,787,000 16,461,000
Change in security deposits payable   (1,787,000) (1,433,000)
Change in other liabilities and deferred credits   (1,457,000) (3,983,000)
Net cash provided by operating activities   109,149,000 122,112,000
INVESTING ACTIVITIES      
Acquisition of real estate   0 (507,780,000)
Capital expenditures   (48,690,000) (65,549,000)
Proceeds from sale of real estate, net of selling costs   0 8,191,000
Leasing commissions   (4,884,000) (8,892,000)
Net cash used in investing activities   (53,574,000) (574,030,000)
FINANCING ACTIVITIES      
Repayment of secured notes payable   (51,003,000) (20,468,000)
Proceeds from unsecured line of credit   100,000,000 59,000,000
Repayment of unsecured line of credit   0 (123,000,000)
Proceeds from unsecured notes payable   0 150,000,000
Debt issuance costs   0 (1,091,000)
Contributions from American Assets Trust, Inc.   (119,000)  
Contributions from American Assets Trust, Inc.     513,934,000
Dividends paid to common stock and unitholders   (57,346,000) (57,667,000)
Net cash (used in) provided by financing activities   (8,468,000) 520,708,000
Net increase (decrease) in cash and cash equivalents   47,107,000 68,790,000
Cash, cash equivalents and restricted cash, beginning of period   109,451,000 57,272,000
Cash, cash equivalents and restricted cash, end of period 156,558,000 156,558,000 126,062,000
Cash and cash equivalents 155,327,000 155,327,000 115,568,000
Restricted cash 1,231,000 $ 1,231,000 $ 10,494,000
American Assets Trust, L.P. | Limited Partner      
OPERATING ACTIVITIES      
Net income 1,365,000    
American Assets Trust, L.P. | General Partner      
OPERATING ACTIVITIES      
Net income $ 5,125,000    
Conversion of operating partnership units (shares) | shares 209,011    
Conversion of operating partnership units $ (12,001,000)    
American Assets Trust, L.P. | Common Shares      
FINANCING ACTIVITIES      
Conversion of operating partnership units (in shares) | shares   209,011  
American Assets Trust, L.P. | Common Shares | Limited Partner      
OPERATING ACTIVITIES      
Conversion of operating partnership units (shares) | shares (209,011)    
Conversion of operating partnership units $ 12,001,000