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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 1,733 $ 15,484
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (6,292) (3,762)
Depreciation and amortization 27,501 27,462
Amortization of debt issuance costs and debt discounts 577 374
Early extinguishment of debt 4,271 0
Provision for uncollectable rental income 3,213 370
Stock-based compensation expense 1,484 1,250
Other noncash interest expense (275) (333)
Other, net 32 (3,940)
Changes in operating assets and liabilities    
Change in accounts receivable (1,841) 3,632
Change in other assets 651 616
Change in accounts payable and accrued expenses 11,098 4,435
Change in security deposits payable 39 30
Change in other liabilities and deferred credits 314 (257)
Net cash provided by operating activities 42,505 45,361
INVESTING ACTIVITIES    
Capital expenditures (11,372) (20,531)
Leasing commissions (844) (3,394)
Net cash used in investing activities (12,216) (23,925)
FINANCING ACTIVITIES    
Repayment of secured notes payable 0 (51,003)
Repayment of unsecured line of credit (100,000) 0
Proceeds from unsecured notes payable 494,675 0
Repayments of Unsecured Debt (155,375) 0
Debt issuance costs (5,025) 0
Proceeds from issuance of common stock, net 0 (119)
Dividends paid to common stock and unitholders (21,463) (22,937)
Net cash provided by (used in) financing activities 212,812 (74,059)
Net increase (decrease) in cash and cash equivalents 243,101 (52,623)
Cash, cash equivalents and restricted cash, beginning of period 139,049 109,451
Cash, cash equivalents and restricted cash, end of period 382,150 56,828
Cash and cash equivalents 380,434 52,371
Restricted cash 1,716 4,457
Noncontrolling Interests - Unitholders in the Operating Partnership    
OPERATING ACTIVITIES    
Net income 339 3,312
American Assets Trust, L.P.    
OPERATING ACTIVITIES    
Net income 1,733 15,484
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (6,292) (3,762)
Depreciation and amortization 27,501 27,462
Amortization of debt issuance costs and debt discounts 577 374
Early extinguishment of debt 4,271 0
Provision for uncollectable rental income 3,213 370
Stock-based compensation expense 1,484 1,250
Other noncash interest expense (275) (333)
Other, net 32 (3,940)
Changes in operating assets and liabilities    
Change in accounts receivable (1,841) 3,632
Change in other assets 651 616
Change in accounts payable and accrued expenses 11,098 4,435
Change in security deposits payable 39 30
Change in other liabilities and deferred credits 314 (257)
Net cash provided by operating activities 42,505 45,361
INVESTING ACTIVITIES    
Capital expenditures (11,372) (20,531)
Leasing commissions (844) (3,394)
Net cash used in investing activities (12,216) (23,925)
FINANCING ACTIVITIES    
Repayment of secured notes payable 0 (51,003)
Repayment of unsecured line of credit (100,000) 0
Proceeds from unsecured notes payable 494,675 0
Repayments of Unsecured Debt (155,375) 0
Debt issuance costs (5,025) 0
Contributions from American Assets Trust, Inc. 0  
Contributions from American Assets Trust, Inc.   (119)
Dividends paid to common stock and unitholders (21,463) (22,937)
Net cash provided by (used in) financing activities 212,812 (74,059)
Net increase (decrease) in cash and cash equivalents 243,101 (52,623)
Cash, cash equivalents and restricted cash, beginning of period 139,049 109,451
Cash, cash equivalents and restricted cash, end of period 382,150 56,828
Cash and cash equivalents 380,434 52,371
Restricted cash 1,716 4,457
American Assets Trust, L.P. | Limited Partner    
OPERATING ACTIVITIES    
Net income [1] 339 3,312
American Assets Trust, L.P. | General Partner    
OPERATING ACTIVITIES    
Net income [2] $ 1,394 $ 12,172
[1] Consists of limited partnership interests held by third parties.
[2] Consists of general partnership interests held by American Assets Trust, Inc.