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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income $ 13,220 $ 25,310
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (8,938) (13,191)
Depreciation and amortization 55,147 53,955
Amortization of debt issuance costs and debt discounts 1,156 742
Early extinguishment of debt 4,271 0
Provision for uncollectable rental income 776 3,849
Stock-based compensation expense 2,968 2,502
Other noncash interest expense (550) (665)
Other, net (2,544) (2,833)
Changes in operating assets and liabilities    
Change in accounts receivable 70 (3,822)
Change in other assets (4,419) 903
Change in accounts payable and accrued expenses 14,540 3,792
Change in security deposits payable 139 (631)
Change in other liabilities and deferred credits 890 (789)
Net cash provided by operating activities 76,726 69,122
INVESTING ACTIVITIES    
Capital expenditures (35,526) (35,241)
Leasing commissions (1,528) (3,892)
Purchases of marketable securities (47,760) 0
Proceeds from the sale of marketable securities 47,723 0
Net cash used in investing activities (37,091) (39,133)
FINANCING ACTIVITIES    
Repayment of secured notes payable 0 (51,003)
Proceeds from unsecured line of credit 0 100,000
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 (5,075) 0
Proceeds from issuance of common stock, net 0 (119)
Dividends paid to common stock and unitholders (42,927) (38,230)
Net cash provided by financing activities 191,298 10,648
Net increase in cash and cash equivalents 230,933 40,637
Cash, cash equivalents and restricted cash, beginning of period 139,049 109,451
Cash, cash equivalents and restricted cash, end of period 369,982 150,088
Cash and cash equivalents 368,266 146,131
Restricted cash 1,716 3,957
American Assets Trust, L.P.    
OPERATING ACTIVITIES    
Net income 13,220 25,310
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent revenue and amortization of lease intangibles (8,938) (13,191)
Depreciation and amortization 55,147 53,955
Amortization of debt issuance costs and debt discounts 1,156 742
Early extinguishment of debt 4,271 0
Provision for uncollectable rental income 776 3,849
Stock-based compensation expense 2,968 2,502
Other noncash interest expense (550) (665)
Other, net (2,544) (2,833)
Changes in operating assets and liabilities    
Change in accounts receivable 70 (3,822)
Change in other assets (4,419) 903
Change in accounts payable and accrued expenses 14,540 3,792
Change in security deposits payable 139 (631)
Change in other liabilities and deferred credits 890 (789)
Net cash provided by operating activities 76,726 69,122
INVESTING ACTIVITIES    
Capital expenditures (35,526) (35,241)
Leasing commissions (1,528) (3,892)
Purchases of marketable securities (47,760) 0
Proceeds from the sale of marketable securities 47,723 0
Net cash used in investing activities (37,091) (39,133)
FINANCING ACTIVITIES    
Repayment of secured notes payable 0 (51,003)
Proceeds from unsecured line of credit 0 100,000
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 (5,075) 0
Contributions from American Assets Trust, Inc. 0 (119)
Dividends paid to common stock and unitholders (42,927) (38,230)
Net cash provided by financing activities 191,298 10,648
Net increase in cash and cash equivalents 230,933 40,637
Cash, cash equivalents and restricted cash, beginning of period 139,049 109,451
Cash, cash equivalents and restricted cash, end of period 369,982 150,088
Cash and cash equivalents 368,266 146,131
Restricted cash $ 1,716 $ 3,957