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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES      
Net income $ 35,588 $ 60,188 $ 27,202
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (31,242) (6,985) (1,157)
Depreciation and amortization 108,292 96,205 107,093
Amortization of debt issuance costs and debt fair value adjustments 1,477 1,467 1,530
Gain on sale of real estate 0 633 0
Stock-based compensation expense 6,307 4,477 3,039
Settlement of forward interest rate swap agreement 0 513 0
Lease termination income 0 (4,518) 0
Other noncash interest expense (1,330) (1,304) (1,279)
Other, net (695) 4,746 (407)
Changes in operating assets and liabilities      
Change in accounts receivable (4,940) (1,071) (336)
Change in other assets 141 (2,420) (227)
Change in accounts payable and accrued expenses (2,108) 5,956 (3,297)
Change in security deposits payable (1,726) (971) 2,274
Change in other liabilities and deferred credits (1,206) (3,585) 1,282
Net cash provided by operating activities 126,985 153,816 136,507
INVESTING ACTIVITIES      
Acquisition of real estate, net 0 (507,780) 0
Capital expenditures (63,488) (88,327) (54,411)
Proceeds from sale of real estate, net of selling costs 0 8,191 0
Leasing commissions (5,589) (11,267) (9,936)
Net cash used in investing activities (69,077) (599,183) (64,347)
FINANCING ACTIVITIES      
Repayment of secured notes payable (51,003) (20,762) (97,124)
Proceeds from unsecured line of credit 100,000 59,000 84,000
Repayment of unsecured line of credit 0 123,000 20,000
Proceeds from issuance of unsecured notes payable 0 150,000 0
Debt issuance costs (125) (1,103) (2,727)
Proceeds from issuance of common stock, net 0 515,354 (236)
Dividends paid to common stock and unitholders (76,510) (80,605) (70,228)
Shares withheld for employee taxes (672) (1,338) (527)
Net cash provided by (used in) financing activities (28,310) 497,546 (106,842)
Net (decrease) increase in cash and cash equivalents 29,598 52,179 (34,682)
Cash, cash equivalents and restricted cash, beginning of year 109,451 57,272 91,954
Cash, cash equivalents and restricted cash, end of year 139,049 109,451 57,272
Cash and cash equivalents 137,333 99,303 47,956
Restricted cash 1,716 10,148 9,316
American Assets Trust, L.P.      
OPERATING ACTIVITIES      
Net income 35,588 60,188 27,202
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (31,242) (6,985) (1,157)
Depreciation and amortization 108,292 96,205 107,093
Amortization of debt issuance costs and debt fair value adjustments 1,477 1,467 1,530
Provision for uncollectable rental income 18,427 1,751 790
Gain on sale of real estate 0 633 0
Stock-based compensation expense 6,307 4,477 3,039
Settlement of forward interest rate swap agreement 0 513 0
Lease termination income 0 (4,518) 0
Other noncash interest expense (1,330) (1,304) (1,279)
Other, net (695) 4,746 (407)
Changes in operating assets and liabilities      
Change in accounts receivable (4,940) (1,071) (336)
Change in other assets 141 (2,420) (227)
Change in accounts payable and accrued expenses (2,108) 5,956 (3,297)
Change in security deposits payable (1,726) (971) 2,274
Change in other liabilities and deferred credits (1,206) (3,585) 1,282
Net cash provided by operating activities 126,985 153,816 136,507
INVESTING ACTIVITIES      
Acquisition of real estate, net 0 (507,780) 0
Capital expenditures (63,488) (88,327) (54,411)
Proceeds from sale of real estate, net of selling costs 0 8,191 0
Leasing commissions (5,589) (11,267) (9,936)
Net cash used in investing activities (69,077) (599,183) (64,347)
FINANCING ACTIVITIES      
Repayment of secured notes payable (51,003) (20,762) (97,124)
Proceeds from unsecured line of credit 100,000 59,000 84,000
Repayment of unsecured line of credit 0 123,000 20,000
Proceeds from issuance of unsecured notes payable 0 150,000 0
Debt issuance costs (125) (1,103) (2,727)
Contributions from American Assets Trust, Inc.   515,354  
Contributions from American Assets Trust, Inc. 0   (236)
Dividends paid to common stock and unitholders (76,510) (80,605) (70,228)
Shares withheld for employee taxes (672) (1,338) (527)
Net cash provided by (used in) financing activities (28,310) 497,546 (106,842)
Net (decrease) increase in cash and cash equivalents 29,598 52,179 (34,682)
Cash, cash equivalents and restricted cash, beginning of year 109,451 57,272 91,954
Cash, cash equivalents and restricted cash, end of year 139,049 109,451 57,272
Cash and cash equivalents 137,333 99,303 47,956
Restricted cash $ 1,716 $ 10,148 $ 9,316