XML 24 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 53,335 $ 49,764
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 24,725 23,838
Straight-lining of rental income (1,276) (1,905)
Stock-based compensation expense 600 394
Reversal of income tax liability 0 (420)
Change in operating assets and liabilities:    
Tenant and other receivables, net (559) 538
Other assets (13,969) (14,345)
Amounts due to Vornado (102) 872
Accounts payable and accrued expenses 9,527 7,686
Other liabilities (23) (13)
Net cash provided by operating activities 72,258 66,409
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (41,919) (39,957)
Change in restricted cash (168) 5,294
Proceeds from maturing short-term investments 24,998 0
Net cash used in investing activities (17,089) (34,663)
CASH FLOWS FROM FINANCING ACTIVITIES    
Debt repayments (322,372) (316,418)
Proceeds from borrowing 350,000 300,000
Dividends paid (53,675) (49,825)
Debt issuance costs (4,071) (4,245)
Net cash used in financing activities (30,118) (70,488)
Net increase (decrease) in cash and cash equivalents 25,051 (38,742)
Cash and cash equivalents at beginning of period 227,815 347,718
Cash and cash equivalents at end of period 252,866 308,976
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest, excluding capitalized interest of $1,420 and $265 respectively 18,065 24,062
NON-CASH TRANSACTIONS    
Liability for real estate additions (including $5,540 due to Vornado in 2015) 13,259 14,296
Write-off of fully amortized and/or depreciated assets $ 9,600 $ 10,569