Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

v3.19.2
Consolidated Statements Of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income $ (20,329,000) $ 1,501,000 $ 255,265,000 $ 52,189,000  
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:          
Depreciation and amortization, including related intangible assets     95,824,000 79,827,000  
Amortization of directors deferred compensation stock units     157,000 251,000  
Amortization of stock compensation     4,071,000 3,189,000  
Amortization of deferred financing costs     2,357,000 2,241,000  
Amortization of debt discount and mark-to-market     (474,000) (474,000)  
Write-off of unamortized deferred finance costs related to early extinguishment 0 105,000  
Equity in (earnings) loss of unconsolidated joint ventures 88,000 52,000 769,000 (1,520,000)  
Distributions of cumulative earnings from unconsolidated joint ventures     3,367,000 3,469,000  
Gain on change of control of interests     (13,790,000)    
Realized (gains) losses and unrealized losses on disposition of rental property, net     (268,364,000) (59,196,000)  
Gain on disposition of developable land (270,000)   (270,000)    
Property impairments 5,802,000   5,802,000    
Land impairments 2,499,000   2,499,000    
Gain on sale of investments in unconsolidated joint ventures     (903,000)    
(Gain)Loss from extinguishment of debt     (1,899,000) 10,289,000  
Changes in operating assets and liabilities:          
Increase in unbilled rents receivable, net     (6,744,000) (3,497,000)  
Increase in deferred charges, goodwill and other assets     (14,646,000) (8,510,000)  
(Increase) decrease in accounts receivable, net     (4,103,000) 396,000  
Increase in accounts payable, accrued expenses and other liabilities     16,845,000 7,033,000  
Decrease in rents received in advance and security deposits     (6,457,000) (2,855,000)  
Decrease in accrued interest payable     (486,000) (1,001,000)  
Net cash provided by operating activities     68,820,000 81,936,000  
CASH FLOWS FROM INVESTING ACTIVITIES          
Rental property acquisitions and related intangibles     (545,462,000) (4,854,000)  
Rental property additions and improvements     (70,577,000) (97,085,000)  
Development of rental property and other related costs     (89,152,000) (105,749,000)  
Proceeds from the sales of rental property     636,161,000 244,754,000  
Proceeds from the sale of investments in unconsolidated joint ventures     4,039,000    
Repayment of notes receivable     46,305,000 6,366,000  
Investment in unconsolidated joint ventures     (8,238,000) (3,352,000)  
Distributions in excess of cumulative earnings from unconsolidated joint ventures     3,602,000 7,806,000  
Net cash (used in) provided by investing activities     (23,322,000) 47,886,000  
CASH FLOW FROM FINANCING ACTIVITIES          
Borrowings from revolving credit facility     281,000,000 371,000,000  
Repayment of revolving credit facility     (398,000,000) (338,000,000)  
Repayment of unsecured term loan     (250,000,000)    
Proceeds from mortgages and loans payable     321,508,000 79,748,000  
Repayment of mortgages, loans payable and other obligations     (55,199,000) (277,637,000)  
Acquisition of noncontrolling interests     (5,017,000)    
Issuance of redeemable noncontrolling interests, net     145,000,000 65,000,000  
Payment of financing costs     (5,637,000) (255,000)  
(Contributions) Distributions to noncontrolling interests     (407,000) 51,000  
Payment of dividends and distributions     (49,770,000) (45,916,000)  
Net cash used in financing activities     (16,522,000) (146,009,000)  
Net increase (decrease) in cash and cash equivalents     28,976,000 (16,187,000)  
Cash, cash equivalents and restricted cash, beginning of period [1]     49,554,000 67,972,000 $ 67,972,000
Cash, cash equivalents and restricted cash, end of period 78,530,000 [2] 51,785,000 [2] 78,530,000 [2] 51,785,000 [2] 49,554,000 [1]
Mack-Cali Realty LP [Member]          
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income (20,329,000) 1,501,000 255,265,000 52,189,000  
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:          
Depreciation and amortization, including related intangible assets     95,824,000 79,827,000  
Amortization of directors deferred compensation stock units     157,000 251,000  
Amortization of stock compensation     4,071,000 3,189,000  
Amortization of deferred financing costs     2,357,000 2,241,000  
Amortization of debt discount and mark-to-market     (474,000) (474,000)  
Write-off of unamortized deferred finance costs related to early extinguishment       105,000  
Equity in (earnings) loss of unconsolidated joint ventures 88,000 52,000 769,000 (1,520,000)  
Distributions of cumulative earnings from unconsolidated joint ventures     3,367,000 3,469,000  
Gain on change of control of interests     (13,790,000)    
Realized (gains) losses and unrealized losses on disposition of rental property, net     (268,364,000) (59,196,000)  
Gain on disposition of developable land (270,000)   (270,000)    
Property impairments 5,802,000   5,802,000    
Land impairments 2,499,000   2,499,000    
Gain on sale of investments in unconsolidated joint ventures     (903,000)    
(Gain)Loss from extinguishment of debt     (1,899,000) 10,289,000  
Changes in operating assets and liabilities:          
Increase in unbilled rents receivable, net     (6,744,000) (3,497,000)  
Increase in deferred charges, goodwill and other assets     (14,646,000) (8,510,000)  
(Increase) decrease in accounts receivable, net     (4,103,000) 396,000  
Increase in accounts payable, accrued expenses and other liabilities     16,845,000 7,033,000  
Decrease in rents received in advance and security deposits     (6,457,000) (2,855,000)  
Decrease in accrued interest payable     (486,000) (1,001,000)  
Net cash provided by operating activities     68,820,000 81,936,000  
CASH FLOWS FROM INVESTING ACTIVITIES          
Rental property acquisitions and related intangibles     (545,462,000) (4,854,000)  
Rental property additions and improvements     (70,577,000) (97,085,000)  
Development of rental property and other related costs     (89,152,000) (105,749,000)  
Proceeds from the sales of rental property     636,161,000 244,754,000  
Proceeds from the sale of investments in unconsolidated joint ventures     4,039,000    
Repayment of notes receivable     46,305,000 6,366,000  
Investment in unconsolidated joint ventures     (8,238,000) (3,352,000)  
Distributions in excess of cumulative earnings from unconsolidated joint ventures     3,602,000 7,806,000  
Net cash (used in) provided by investing activities     (23,322,000) 47,886,000  
CASH FLOW FROM FINANCING ACTIVITIES          
Borrowings from revolving credit facility     281,000,000 371,000,000  
Repayment of revolving credit facility     (398,000,000) (338,000,000)  
Repayment of unsecured term loan     (250,000,000)    
Proceeds from mortgages and loans payable     321,508,000 79,748,000  
Repayment of mortgages, loans payable and other obligations     (55,199,000) (277,637,000)  
Acquisition of noncontrolling interests     (5,017,000)    
Issuance of redeemable noncontrolling interests, net     145,000,000 65,000,000  
Payment of financing costs     (5,637,000) (255,000)  
(Contributions) Distributions to noncontrolling interests     (407,000) 51,000  
Payment of dividends and distributions     (49,770,000) (45,916,000)  
Net cash used in financing activities     (16,522,000) (146,009,000)  
Net increase (decrease) in cash and cash equivalents     28,976,000 (16,187,000)  
Cash, cash equivalents and restricted cash, beginning of period [1]     49,554,000 67,972,000 67,972,000
Cash, cash equivalents and restricted cash, end of period $ 78,530,000 [2] $ 51,785,000 [2] $ 78,530,000 [2] $ 51,785,000 [2] $ 49,554,000 [1]
[1] Includes Restricted Cash of $19,921 and $39,792 as of December 31, 2018 and 2017, respectively.
[2] Includes Restricted Cash of $17,892 and $22,121 as of June 30, 2019 and 2018, respectively.