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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income $ 120,735 $ 119,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 157,611 146,135
Gain on sale of real estate (1,702) 0
Income from partnerships (2,181) (3,005)
Straight-line rent (5,021) (9,832)
Share-based compensation expense 7,445 7,020
Other, net (2,611) (2,449)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Decrease (increase) in accounts receivable, net 3,018 (10,252)
Decrease in prepaid expenses and other assets 13,505 18,115
Decrease in accounts payable and accrued expenses (1,431) (5,578)
Increase in security deposits and other liabilities 2,908 1,172
Net cash provided by operating activities 292,276 260,521
INVESTING ACTIVITIES    
Acquisition of real estate (59,568) (100,022)
Capital expenditures - development and redevelopment (104,666) (150,524)
Capital expenditures - other (50,913) (44,024)
Proceeds from sale of real estate 12,626 874
Investment in partnerships 0 (417)
Distribution from partnerships in excess of earnings 7,569 3,665
Leasing costs (9,247) (9,629)
Repayment of mortgage and other notes receivable, net 0 18
Net cash used in investing activities (204,199) (300,059)
FINANCING ACTIVITIES    
Net borrowings under revolving credit facility 31,500 0
Issuance of senior notes, net of costs 345,685 0
Repayment of senior notes (275,000) 0
Repayment of mortgages, finance leases, and notes payable (1,636) (17,798)
Issuance of common shares, net of costs 6,246 259,597
Dividends paid to common and preferred shareholders (179,043) (171,450)
Shares withheld for employee taxes (4,711) (4,638)
Contributions from noncontrolling interests 927 0
Distributions to and redemptions of redeemable noncontrolling interests (5,637) (6,779)
Net cash (used in) provided by financing activities (81,669) 58,932
Increase in cash, cash equivalents and restricted cash 6,408 19,394
Cash, cash equivalents, and restricted cash at beginning of year 96,348 175,163
Cash, cash equivalents, and restricted cash at end of period 102,756 194,557
Federal Realty OP LP    
OPERATING ACTIVITIES    
Net income 120,735 119,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 157,611 146,135
Gain on sale of real estate (1,702) 0
Income from partnerships (2,181) (3,005)
Straight-line rent (5,021) (9,832)
Share-based compensation expense 7,445 7,020
Other, net (2,611) (2,449)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Decrease (increase) in accounts receivable, net 3,018 (10,252)
Decrease in prepaid expenses and other assets 13,505 18,115
Decrease in accounts payable and accrued expenses (1,431) (5,578)
Increase in security deposits and other liabilities 2,908 1,172
Net cash provided by operating activities 292,276 260,521
INVESTING ACTIVITIES    
Acquisition of real estate (59,568) (100,022)
Capital expenditures - development and redevelopment (104,666) (150,524)
Capital expenditures - other (50,913) (44,024)
Proceeds from sale of real estate 12,626 874
Investment in partnerships 0 (417)
Distribution from partnerships in excess of earnings 7,569 3,665
Leasing costs (9,247) (9,629)
Repayment of mortgage and other notes receivable, net 0 18
Net cash used in investing activities (204,199) (300,059)
FINANCING ACTIVITIES    
Net borrowings under revolving credit facility 31,500 0
Issuance of senior notes, net of costs 345,685 0
Repayment of senior notes (275,000) 0
Repayment of mortgages, finance leases, and notes payable (1,636) (17,798)
Issuance of common shares, net of costs 6,246 259,597
Dividends paid to common and preferred shareholders (179,043) (171,450)
Shares withheld for employee taxes (4,711) (4,638)
Contributions from noncontrolling interests 927 0
Distributions to and redemptions of redeemable noncontrolling interests (5,637) (6,779)
Net cash (used in) provided by financing activities (81,669) 58,932
Increase in cash, cash equivalents and restricted cash 6,408 19,394
Cash, cash equivalents, and restricted cash at beginning of year 96,348 175,163
Cash, cash equivalents, and restricted cash at end of period $ 102,756 $ 194,557