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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 55,181 $ 23,507
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 26,923 25,554
Net gain on sale of real estate (9,124) 0
Straight-lining of rental income 7,411 18,306
Write-off of tenant receivables 0 4,122
Stock-based compensation 450 600
Change in fair value of marketable securities (3,411) 10,789
Dividends received in stock 0 (214)
Changes in operating assets and liabilities:    
Tenant and other receivables 1,497 (4,886)
Other assets (9,146) (33,731)
Amounts due to Vornado 1,032 (697)
Accounts payable and accrued expenses 20,601 12,646
Other liabilities (495) (475)
Net cash provided by operating activities 90,919 55,521
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (14,711) (23,630)
Proceeds from sale of land 9,291 0
Return of short-term investment 3,600 0
Net cash used in investing activities (1,820) (23,630)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (69,160) (69,118)
Debt issuance costs (45) (2,680)
Proceeds from borrowing 0 145,708
Debt repayments 0 (50,000)
Net cash (used in) provided by financing activities (69,205) 23,910
Net increase in cash and cash equivalents and restricted cash 19,894 55,801
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 469,771 369,778
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 448,913 355,712
Restricted cash at end of period 20,858 14,066
Cash and cash equivalents and restricted cash at end of period 469,771 369,778
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 14,182 17,959
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $109 and $456 for development fees due to Vornado in 2021 and 2020, respectively 1,832 3,622
Write-off of fully depreciated assets $ 5,628 $ 457