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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 17,882 $ 4,572
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 8,958 9,202
Straight-lining of rental income 2,637 1,935
Change in fair value of marketable securities (582) 11,395
Changes in operating assets and liabilities:    
Tenant and other receivables 1,286 1,225
Other assets 14,278 (12,707)
Amounts due to Vornado 430 (597)
Accounts payable and accrued expenses 9,240 10,166
Other liabilities (163) (156)
Net cash provided by operating activities 53,966 25,035
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (3,842) (6,961)
Return of short-term investment 3,600 0
Net cash used in investing activities (242) (6,961)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (23,050) (23,034)
Debt issuance costs (35) (79)
Proceeds from borrowing 0 145,708
Net cash (used in) provided by financing activities (23,085) 122,595
Net increase in cash and cash equivalents and restricted cash 30,639 140,669
Cash and cash equivalents and restricted cash at beginning of period 449,877 313,977
Cash and cash equivalents and restricted cash at end of period 480,516 454,646
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 428,710 298,063
Restricted cash at beginning of period 21,167 15,914
Cash and cash equivalents and restricted cash at beginning of period 449,877 313,977
Cash and cash equivalents at end of period 459,384 438,342
Restricted cash at end of period 21,132 16,304
Cash and cash equivalents and restricted cash at end of period 480,516 454,646
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 4,565 7,805
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $33 and $146 for development fees due to Vornado in 2021 and 2020, respectively 2,913 3,209
Write-off of fully depreciated assets $ 5,628 $ 367