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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 44,455 $ 55,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 23,510 26,923
Net gain on sale of real estate 0 (9,124)
Straight-lining of rental income 6,028 7,411
Stock-based compensation expense 450 450
Change in fair value of marketable securities 0 (3,411)
Other non-cash adjustments (1,420) 0
Change in operating assets and liabilities:    
Tenant and other receivables, net 1,031 1,497
Other assets (9,412) (9,146)
Amounts due to Vornado (230) 1,032
Accounts payable and accrued expenses 11,540 20,601
Other liabilities 251 (495)
Net cash provided by operating activities 76,203 90,919
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (8,710) (14,711)
Proceeds from sale of real estate 0 9,291
Return of short-term investment 0 3,600
Purchase of U.S. Treasury bills (197,407) 0
Net cash used in investing activities (206,117) (1,820)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (69,192) (69,160)
Debt issuance costs (8) (45)
Net cash used in financing activities (69,200) (69,205)
Net (decrease) increase in cash and cash equivalents (199,114) 19,894
Cash and cash equivalents and restricted cash at beginning of period 483,505 449,877
Cash and cash equivalents and restricted cash at end of period 284,391 469,771
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 463,539 428,710
Restricted cash at beginning of period 19,966 21,167
Cash and cash equivalents and restricted cash at beginning of period 483,505 449,877
Cash and cash equivalents at end of period 264,872 448,913
Restricted cash at end of period 19,519 20,858
Cash and cash equivalents and restricted cash at end of period 284,391 469,771
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 15,808 14,182
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $3 and $109 for development fees due to Vornado in 2022 and 2021, respectively 2,277 1,832
Write-off of fully depreciated assets $ 23 $ 5,628