Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v3.10.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 106,401 $ 33,718 $ 130,294
Adjustments to reconcile net income to net cash provided by Operating activities:      
Depreciation and amortization, including related intangible assets and liabilities 170,284 198,674 186,549
Amortization of directors deferred compensation stock units 507 482 372
Amortization of stock compensation 6,894 7,447 5,646
Amortization of deferred financing costs 5,028 4,612 4,582
Amortization of debt discount and mark-to-market (948) (287) 1,686
Equity in (earnings) loss of unconsolidated joint ventures 127 6,081 (18,788)
Distributions of cumulative earnings from unconsolidated joint ventures 9,182 8,186 6,120
Gain on change of control of interests (14,217)   (15,347)
Realized (gains) losses and unrealized losses on disposition of rental property, net (99,436) (2,364) (109,666)
Gain on disposition of developable land (30,939)    
Gain on sale of investments in unconsolidated joint ventures   (23,131) (5,670)
Loss (gain) from extinguishment of debt 10,750 421 (12,420)
Land impairments 24,566    
Changes in operating assets and liabilities:      
Increase in unbilled rents receivable, net (7,519) (11,286) (12,775)
Increase in deferred charges, goodwill and other assets (29,377) (19,710) (33,878)
Decrease in accounts receivable, net 1,382 2,831 596
Increase (decrease) in accounts payable, accrued expenses and other liabilities 13,915 (9,012) (14,535)
Increase (decrease) in rents received in advance and security deposits 875 (1,817) (3,297)
(Decrease) increase in accrued interest payable (402) 1,296 (9,362)
Net cash provided by operating activities 167,073 196,141 100,107
CASH FLOWS FROM INVESTING ACTIVITIES      
Rental property acquisitions and related intangibles (164,838) (619,350) (407,869)
Rental property additions and improvements (168,398) (90,068) (121,582)
Development of rental property and other related costs (184,799) (267,845) (206,955)
Proceeds from the sales of rental property 338,015 312,596 604,978
Proceeds from the sale of investments in unconsolidated joint ventures   98,599 6,420
Investments in notes receivable   (47,049)  
Repayment of notes receivable 12,102 74,945 500
Investment in unconsolidated joint ventures (11,789) (36,060) (35,930)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 11,553 5,877 22,231
Proceeds from investment receivable   3,625  
Net cash used in investing activities (168,154) (564,730) (138,207)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowings from revolving credit facility 461,000 730,000 1,165,000
Repayment of revolving credit facility (494,000) (866,000) (1,034,000)
Repayment of senior unsecured notes   (250,000) (448,339)
Borrowings from unsecured term loan   325,000 350,000
Proceeds from mortgages and loans payable 434,293 518,852 474,344
Repayment of mortgages, loans payable and other obligations (418,495) (156,760) (349,426)
Acquisition of noncontrolling interests   (2,021) (37,946)
Issuance of redeemable noncontrolling interests, net 105,000 139,002  
Payment of financing costs (3,576) (9,230) (9,414)
Contributions from (to) noncontrolling interests, net (7,542) (19) 1,065
Payment of dividends and distributions (94,017) (77,826) (60,041)
Net cash (used in) provided by financing activities (17,337) 350,998 51,243
Net (decrease) increase in cash and cash equivalents (18,418) (17,591) 13,143
Cash, cash equivalents and restricted cash, beginning of period [2] 67,972 [1] 85,563 [1] 72,420
Cash, cash equivalents and restricted cash, end of period [1] 49,554 67,972 [2] 85,563 [2]
Mack-Cali Realty LP [Member]      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 106,401 33,718 130,294
Adjustments to reconcile net income to net cash provided by Operating activities:      
Depreciation and amortization, including related intangible assets and liabilities 170,284 198,674 186,549
Amortization of directors deferred compensation stock units 507 482 372
Amortization of stock compensation 6,894 7,447 5,646
Amortization of deferred financing costs 5,028 4,612 4,582
Amortization of debt discount and mark-to-market (948) (287) 1,686
Equity in (earnings) loss of unconsolidated joint ventures 127 6,081 (18,788)
Distributions of cumulative earnings from unconsolidated joint ventures 9,182 8,186 6,120
Gain on change of control of interests (14,217)   (15,347)
Realized (gains) losses and unrealized losses on disposition of rental property, net (99,436) (2,364) (109,666)
Gain on disposition of developable land (30,939)    
Gain on sale of investments in unconsolidated joint ventures   (23,131) (5,670)
Loss (gain) from extinguishment of debt 10,750 421 (12,420)
Land impairments 24,566    
Changes in operating assets and liabilities:      
Increase in unbilled rents receivable, net (7,519) (11,286) (12,775)
Increase in deferred charges, goodwill and other assets (29,377) (19,710) (33,878)
Decrease in accounts receivable, net 1,382 2,831 596
Increase (decrease) in accounts payable, accrued expenses and other liabilities 13,915 (9,012) (14,535)
Increase (decrease) in rents received in advance and security deposits 875 (1,817) (3,297)
(Decrease) increase in accrued interest payable (402) 1,296 (9,362)
Net cash provided by operating activities 167,073 196,141 100,107
CASH FLOWS FROM INVESTING ACTIVITIES      
Rental property acquisitions and related intangibles (164,838) (619,350) (407,869)
Rental property additions and improvements (168,398) (90,068) (121,582)
Development of rental property and other related costs (184,799) (267,845) (206,955)
Proceeds from the sales of rental property 338,015 312,596 604,978
Proceeds from the sale of investments in unconsolidated joint ventures   98,599 6,420
Investments in notes receivable   (47,049)  
Repayment of notes receivable 12,102 74,945 500
Investment in unconsolidated joint ventures (11,789) (36,060) (35,930)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 11,553 5,877 22,231
Proceeds from investment receivable   3,625  
Net cash used in investing activities (168,154) (564,730) (138,207)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowings from revolving credit facility 461,000 730,000 1,165,000
Repayment of revolving credit facility (494,000) (866,000) (1,034,000)
Repayment of senior unsecured notes   (250,000) (448,339)
Borrowings from unsecured term loan   325,000 350,000
Proceeds from mortgages and loans payable 434,293 518,852 474,344
Repayment of mortgages, loans payable and other obligations (418,495) (156,760) (349,426)
Acquisition of noncontrolling interests (2,021) (37,946)
Issuance of redeemable noncontrolling interests, net 105,000 139,002  
Payment of financing costs (3,576) (9,230) (9,414)
Contributions from (to) noncontrolling interests, net (7,542) (19) 1,065
Payment of dividends and distributions (94,017) (77,826) (60,041)
Net cash (used in) provided by financing activities (17,337) 350,998 51,243
Net (decrease) increase in cash and cash equivalents (18,418) (17,591) 13,143
Cash, cash equivalents and restricted cash, beginning of period [2] 67,972 [1] 85,563 [1] 72,420
Cash, cash equivalents and restricted cash, end of period [1] $ 49,554 $ 67,972 [2] $ 85,563 [2]
[1] Includes Restricted Cash of $19,921, $39,792 and $53,952 as of December 31, 2018, 2017 and 2016, respectively, pursuant to the adoption of ASU 2016-15.
[2] Includes Restricted Cash of $39,792, $53,952 and $35,343 as of December 31, 2017, 2016 and 2015, respectively, pursuant to the adoption of ASU 2016-15.