XML 21 R9.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 29,148 $ 7,870
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 18,278 19,740
Straight-lining of rental income 1,313 2,038
Stock-based compensation 394 394
Change in fair value of marketable securities 5,240 4,737
Changes in operating assets and liabilities:    
Tenant and other receivables, net (652) (329)
Other assets (2,054) (8,785)
Amounts due to Vornado 2,679 (2,064)
Accounts payable and accrued expenses (3,246) (382)
Other liabilities (302) 10,246
Net cash provided by operating activities 50,798 33,465
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (4,901) (1,789)
Repayment of Rego Park II loan participation 0 1,519
Net cash used in investing activities (4,901) (270)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (46,056) (46,044)
Debt issuance costs (14) (141)
Debt repayments 0 (158,452)
Proceeds from borrowing 0 78,246
Net cash used in financing activities (46,070) (126,391)
Net decrease in cash and cash equivalents and restricted cash (173) (93,196)
Cash and cash equivalents and restricted cash at beginning of period 289,495 393,279
Cash and cash equivalents and restricted cash at end of period 289,322 300,083
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 283,056 307,536
Restricted cash at beginning of period 6,439 85,743
Cash and cash equivalents and restricted cash at beginning of period 289,495 393,279
Cash and cash equivalents at end of period 283,948 293,840
Restricted cash at end of period 5,374 6,243
Cash and cash equivalents and restricted cash at end of period 289,322 300,083
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 18,107 17,782
NON-CASH TRANSACTIONS    
Lease liability arising from the recognition of right-of-use asset 5,428 0
Reclassification of prepaid real estate taxes to construction in progress for property in redevelopment 1,466 0
Liability for real estate additions, including $29 for development fees due to Vornado in each period 791 209
Write-off of fully amortized and/or depreciated assets $ 0 $ 13,742