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
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (86,302) $ (111,896)
Net loss from discontinued operations (39,408) (36,103)
Loss from continuing operations (125,710) (147,999)
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 84,173 90,494
Amortization of directors deferred compensation stock units 229 215
Amortization of stock compensation 7,979 5,692
Amortization of deferred financing costs 3,369 3,158
Amortization of debt discount and mark-to-market 232 (711)
Equity in (earnings) loss of unconsolidated joint ventures 2,831 281
Distributions of cumulative earnings from unconsolidated joint ventures 759 4,734
Write-off transaction-related costs 3,091  
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net (521) 7,915
Gain on disposition of developable land (111) (4,813)
Land and other impairments, net 11,333 23,401
Property impairments 6,041 36,582
Loss from sale of investment in unconsolidated joint venture 1,886  
Loss from extinguishment of debt 46,735  
Loan loss allowance charge 5,152  
Changes in operating assets and liabilities:    
(Increase) decrease in unbilled rents receivable, net (7,056) 866
Increase in deferred charges, goodwill and other assets (5,163) (4,384)
Decrease (increase) in accounts receivable, net 4,213 (5,752)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (5,054) (2,928)
(Decrease) Increase in rents received in advance and security deposits 1,449 (1,441)
Increase (decrease) in accrued interest payable 237 5,471
Net cash flows provided by operating activities - continuing operations 36,094 10,781
Net cash flows provided by operating activities - discontinuing operations 5,081 65,807
Net cash provided by operating activities 41,175 76,588
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles   (16,214)
Rental property additions and improvements (49,129) (123,797)
Development of rental property and other related costs (165,715) (227,509)
Proceeds from the sales of rental property 42,702 16,455
Proceeds from the sale of unconsolidated joint venture interests 3,865  
Repayment of notes receivable 494 333
Investment in unconsolidated joint ventures (629) (1,664)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 5,656 11,960
Net cash used in investing activities - continuing operations (162,756) (340,436)
Net cash provided by investing activities - discontinuing operations 620,772 257,474
Net cash provided by (used in) investing activities 458,016 (82,962)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 186,000 191,000
Repayment of revolving credit facility (37,000) (364,000)
Borrowings from term loans 150,000  
Repayments of term loans (150,000)  
Repayment of senior unsecured notes (573,727)  
Proceeds from mortgages and loans payable 123,707 258,483
Repayment of mortgages, loans payable and other obligations (129,907) (298)
Payment of early debt extinguishment costs (49,874)  
Common unit redemptions (550) (2,170)
Payment of financing costs (7,339) (668)
Contributions from noncontrolling interests 197 133
Distributions to redeemable noncontrolling interests (19,413) (19,412)
Payment of common dividends and distributions (469) (60,483)
Net cash (used in) provided by financing activities (508,375) 2,585
Net decrease in cash and cash equivalents (9,184) (3,789)
Cash, cash equivalents and restricted cash, beginning of period [1] 52,302 41,168
Cash, cash equivalents and restricted cash, end of period [2] 43,118 37,379
Mack-Cali Realty LP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss (86,302) (111,896)
Net loss from discontinued operations (39,408) (36,103)
Loss from continuing operations (125,710) (147,999)
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 84,173 90,494
Amortization of directors deferred compensation stock units 229 215
Amortization of stock compensation 7,979 5,692
Amortization of deferred financing costs 3,369 3,158
Amortization of debt discount and mark-to-market 232 (711)
Equity in (earnings) loss of unconsolidated joint ventures 2,831 281
Distributions of cumulative earnings from unconsolidated joint ventures 759 4,734
Write-off transaction-related costs 3,091  
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net (521) 7,915
Gain on disposition of developable land (111) (4,813)
Land and other impairments, net 11,333 23,401
Property impairments 6,041 36,582
Loss from sale of investment in unconsolidated joint venture 1,886  
Loss from extinguishment of debt 46,735  
Loan loss allowance charge 5,152  
Changes in operating assets and liabilities:    
(Increase) decrease in unbilled rents receivable, net (7,056) 866
Increase in deferred charges, goodwill and other assets (5,163) (4,384)
Decrease (increase) in accounts receivable, net 4,213 (5,752)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (5,054) (2,928)
(Decrease) Increase in rents received in advance and security deposits 1,449 (1,441)
Increase (decrease) in accrued interest payable 237 5,471
Net cash flows provided by operating activities - continuing operations 36,094 10,781
Net cash flows provided by operating activities - discontinuing operations 5,081 65,807
Net cash provided by operating activities 41,175 76,588
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles   (16,214)
Rental property additions and improvements (49,129) (123,797)
Development of rental property and other related costs (165,715) (227,509)
Proceeds from the sales of rental property 42,702 16,455
Proceeds from the sale of unconsolidated joint venture interests 3,865  
Repayment of notes receivable 494 333
Investment in unconsolidated joint ventures (629) (1,664)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 5,656 11,960
Net cash used in investing activities - continuing operations (162,756) (340,436)
Net cash provided by investing activities - discontinuing operations 620,772 257,474
Net cash provided by (used in) investing activities 458,016 (82,962)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 186,000 191,000
Repayment of revolving credit facility (37,000) (364,000)
Borrowings from term loans 150,000  
Repayments of term loans (150,000)  
Repayment of senior unsecured notes (573,727)  
Proceeds from mortgages and loans payable 123,707 258,483
Repayment of mortgages, loans payable and other obligations (129,907) (298)
Payment of early debt extinguishment costs (49,874)  
Common unit redemptions (550) (2,170)
Payment of financing costs (7,339) (668)
Contributions from noncontrolling interests 197 133
Distributions to redeemable noncontrolling interests (19,413) (19,412)
Payment of common dividends and distributions (469) (60,483)
Net cash (used in) provided by financing activities (508,375) 2,585
Net decrease in cash and cash equivalents (9,184) (3,789)
Cash, cash equivalents and restricted cash, beginning of period [1] 52,302 41,168
Cash, cash equivalents and restricted cash, end of period [2] $ 43,118 $ 37,379
[1] Includes Restricted Cash of $14,207 and $15,577 as of December 31, 2020 and 2019, respectively.
[2] Includes Restricted Cash of $19,809 and $14,507 as of September 30, 2021 and 2020, respectively.