Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

v3.21.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (60,510) $ (70,778)
Net (income) loss from discontinued operations (38,619) (1,925)
Net income (loss) from continuing operations (99,129) (72,703)
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 55,397 59,642
Amortization of directors deferred compensation stock units 138 139
Amortization of stock compensation 5,072 4,969
Amortization of deferred financing costs 2,190 2,084
Amortization of debt discount and mark-to-market 232 (474)
Equity in (earnings) loss of unconsolidated joint ventures 1,107 1,654
Distributions of cumulative earnings from unconsolidated joint ventures 117 3,018
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net (3,521) 7,915
Gain on disposition of developable land (111) (4,813)
Land and other impairments 7,932 22,109
Property impairments 6,041  
Loss from extinguishment of debt 46,735  
Changes in operating assets and liabilities:    
(Increase) decrease in unbilled rents receivable, net (3,403) 586
Decrease (increase) in deferred charges, goodwill and other assets 779 (98)
Decrease (increase) in accounts receivable, net 4,242 (5,255)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (3,333) 7,053
(Decrease) Increase in rents received in advance and security deposits 784 (2,311)
Increase (decrease) in accrued interest payable 273 (67)
Net cash flows provided by operating activities - continuing operations 21,542 23,448
Net cash flows provided by operating activities - discontinuing operations 6,405 44,806
Net cash provided by operating activities 27,947 68,254
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles   (16,159)
Rental property additions and improvements (32,077) (104,411)
Development of rental property and other related costs (120,023) (146,810)
Proceeds from the sales of rental property 42,702 16,455
Proceeds from the sale of investments in joint ventures 1,975  
Repayment of notes receivable 381 208
Investment in unconsolidated joint ventures (398) (1,553)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,949 5,875
Net cash used in investing activities - continuing operations (102,491) (246,395)
Net cash provided by investing activities - discontinuing operations 592,590 52,215
Net cash provided by (used in) investing activities 490,099 (194,180)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 170,000 140,000
Repayment of revolving credit facility (33,000) (140,000)
Borrowings from term loans 150,000  
Repayments of term loans (123,000)  
Repayment of senior unsecured notes (573,727)  
Proceeds from mortgages and loans payable 93,772 181,358
Repayment of mortgages, loans payable and other obligations (129,770) (281)
Payment of early debt extinguishment costs (49,874)  
Common unit redemptions (410) (2,141)
Payment of financing costs (7,339) (656)
(Contributions) distributions to noncontrolling interests 185 133
Distributions to redeemable noncontrolling interests (12,942) (12,942)
Payment of common dividends and distributions (468) (40,274)
Net cash (used in) provided by financing activities (516,573) 125,197
Net increase (decrease) in cash and cash equivalents 1,473 (729)
Cash, cash equivalents and restricted cash, beginning of period [1] 52,302 41,168
Cash, cash equivalents and restricted cash, end of period [2] 53,775 40,439
Mack-Cali Realty LP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) (60,510) (70,778)
Net (income) loss from discontinued operations (38,619) (1,925)
Net income (loss) from continuing operations (99,129) (72,703)
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 55,397 59,642
Amortization of directors deferred compensation stock units 138 139
Amortization of stock compensation 5,072 4,969
Amortization of deferred financing costs 2,190 2,084
Amortization of debt discount and mark-to-market 232 (474)
Equity in (earnings) loss of unconsolidated joint ventures 1,107 1,654
Distributions of cumulative earnings from unconsolidated joint ventures 117 3,018
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net (3,521) 7,915
Gain on disposition of developable land (111) (4,813)
Land and other impairments 7,932 22,109
Property impairments 6,041  
Loss from extinguishment of debt 46,735  
Changes in operating assets and liabilities:    
(Increase) decrease in unbilled rents receivable, net (3,403) 586
Decrease (increase) in deferred charges, goodwill and other assets 779 (98)
Decrease (increase) in accounts receivable, net 4,242 (5,255)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (3,333) 7,053
(Decrease) Increase in rents received in advance and security deposits 784 (2,311)
Increase (decrease) in accrued interest payable 273 (67)
Net cash flows provided by operating activities - continuing operations 21,542 23,448
Net cash flows provided by operating activities - discontinuing operations 6,405 44,806
Net cash provided by operating activities 27,947 68,254
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles   (16,159)
Rental property additions and improvements (32,077) (104,411)
Development of rental property and other related costs (120,023) (146,810)
Proceeds from the sales of rental property 42,702 16,455
Proceeds from the sale of investments in joint ventures 1,975  
Repayment of notes receivable 381 208
Investment in unconsolidated joint ventures (398) (1,553)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,949 5,875
Net cash used in investing activities - continuing operations (102,491) (246,395)
Net cash provided by investing activities - discontinuing operations 592,590 52,215
Net cash provided by (used in) investing activities 490,099 (194,180)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 170,000 140,000
Repayment of revolving credit facility (33,000) (140,000)
Borrowings from term loans 150,000  
Repayments of term loans (123,000)  
Repayment of senior unsecured notes (573,727)  
Proceeds from mortgages and loans payable 93,772 181,358
Repayment of mortgages, loans payable and other obligations (129,770) (281)
Payment of early debt extinguishment costs (49,874)  
Common unit redemptions (410) (2,141)
Payment of financing costs (7,339) (656)
(Contributions) distributions to noncontrolling interests 185 133
Distributions to redeemable noncontrolling interests (12,942) (12,942)
Payment of common dividends and distributions (468) (40,274)
Net cash (used in) provided by financing activities (516,573) 125,197
Net increase (decrease) in cash and cash equivalents 1,473 (729)
Cash, cash equivalents and restricted cash, beginning of period [1] 52,302 41,168
Cash, cash equivalents and restricted cash, end of period [2] $ 53,775 $ 40,439
[1] Includes Restricted Cash of $14,207 and $15,577 as of December 31, 2020 and 2019, respectively.
[2] Includes Restricted Cash of $16,147 and $14,144 as of June 30, 2021 and 2020, respectively.