Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v3.20.4
Consolidated Statements Of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (33,598,000) $ 143,836,000 $ 106,401,000
Net (income) loss from discontinued operations (81,925,000) 108,984,000 (23,577,000)
Net income (loss) from continuing operations (115,523,000) 252,820,000 82,824,000
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:      
Depreciation and amortization, including related intangible assets 118,345,000 129,725,000 109,352,000
Amortization of directors deferred compensation stock units 291,000 319,000 507,000
Amortization of stock compensation 7,635,000 8,161,000 6,894,000
Amortization of deferred financing costs 4,625,000 4,625,000 5,028,000
Amortization of debt discount and mark-to-market (1,083,000) (949,000) (948,000)
Equity in (earnings) loss of unconsolidated joint ventures 3,832,000 1,319,000 127,000
Distributions of cumulative earnings from unconsolidated joint ventures 5,300,000 6,923,000 9,182,000
Gain on change of control of interests   (13,790,000) (14,217,000)
Realized (gains) losses and unrealized losses on disposition of rental property, net (5,481,000) (343,102,000) (99,436,000)
Gain on disposition of developable land (5,787,000) (522,000) (30,939,000)
Property impairments on continuing operations 36,582,000    
Land and other impairments 16,817,000 32,444,000 24,566,000
Gain on sale from in unconsolidated joint ventures (35,184,000) (903,000)  
(Gain)Loss from extinguishment of debt 272,000 (1,648,000) 10,750,000
Changes in operating assets and liabilities:      
Increase in unbilled rents receivable, net (1,135,000) (7,240,000) (7,627,000)
Increase in deferred charges, goodwill and other assets (806,000) (21,921,000) (23,389,000)
(Increase) decrease in accounts receivable, net (5,117,000) 2,132,000 871,000
Increase (decrease) in accounts payable, accrued expenses and other liabilities (9,577,000) 1,820,000 12,567,000
(Decrease) Increase in rents received in advance and security deposits (2,446,000) 2,002,000 736,000
(Decrease) increase in accrued interest payable (184,000) 1,068,000 (157,000)
Net cash flows provided by operating activities - continuing operations 11,376,000 53,283,000 86,691,000
Net cash flows provided by operating activities - discontinuing operations 74,046,000 78,559,000 80,382,000
Net cash provided by operating activities 85,422,000 131,842,000 167,073,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Rental property acquisitions and related intangibles (16,811,000) (956,040,000) (164,838,000)
Rental property additions and improvements (138,688,000) (88,240,000) (113,523,000)
Development of rental property and other related costs (295,892,000) (172,309,000) (184,764,000)
Proceeds from the sales of rental property 64,947,000 825,613,000 338,015,000
Proceeds from the sale of investments in unconsolidated joint ventures 64,773,000 4,039,000  
Repayment of notes receivable 458,000 46,597,000 12,102,000
Investment in unconsolidated joint ventures (2,959,000) (9,011,000) (11,789,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 13,826,000 8,697,000 11,553,000
Net cash used in investing activities - continuing operations (310,346,000) (340,654,000) (113,244,000)
Net cash provided by (used in) investing activities - discontinuing operations 338,811,000 (75,421,000) (54,910,000)
Net cash provided by (used in) investing activities 28,465,000 (416,075,000) (168,154,000)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowings from revolving credit facility 212,000,000 829,000,000 461,000,000
Repayment of revolving credit facility (516,000,000) (617,000,000) (494,000,000)
Repayment of unsecured term loan   (675,000,000)  
Proceeds from mortgages and loans payable 381,577,000 877,126,000 434,293,000
Repayment of mortgages, loans payable and other obligations (86,561,000) (155,115,000) (418,495,000)
Acquisition of noncontrolling interests   (5,017,000)  
(Redemption) issuance of redeemable noncontrolling interests, net (3,153,000) 145,000,000 105,000,000
Common unit redemptions (2,693,000) (7,769,000)  
Payment of financing costs (1,677,000) (12,339,000) (3,576,000)
(Contributions) distributions to noncontrolling interests 171,000 (466,000) (7,542,000)
Distributions to redeemable noncontrolling interests (25,883,000) (21,883,000) (13,449,000)
Payment of dividends and distributions (60,532,000) (80,692,000) (80,568,000)
Net cash (used in) provided by financing activities (102,751,000) 275,845,000 (17,337,000)
Net increase (decrease) in cash and cash equivalents 11,136,000 (8,388,000) (18,418,000)
Cash, cash equivalents and restricted cash, beginning of period [2] 41,166,000 [1] 49,554,000 [1] 67,972,000
Cash, cash equivalents and restricted cash, end of period [1] 52,302,000 41,166,000 [2] 49,554,000 [2]
Mack-Cali Realty LP [Member]      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) (33,598,000) 143,836,000 106,401,000
Net (income) loss from discontinued operations (81,925,000) 108,984,000 (23,577,000)
Net income (loss) from continuing operations (115,523,000) 252,820,000 82,824,000
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:      
Depreciation and amortization, including related intangible assets 118,345,000 129,725,000 109,352,000
Amortization of directors deferred compensation stock units 291,000 319,000 507,000
Amortization of stock compensation 7,635,000 8,161,000 6,894,000
Amortization of deferred financing costs 4,625,000 4,625,000 5,028,000
Amortization of debt discount and mark-to-market (1,083,000) (949,000) (948,000)
Equity in (earnings) loss of unconsolidated joint ventures 3,832,000 1,319,000 127,000
Distributions of cumulative earnings from unconsolidated joint ventures 5,300,000 6,923,000 9,182,000
Gain on change of control of interests   (13,790,000) (14,217,000)
Realized (gains) losses and unrealized losses on disposition of rental property, net (5,481,000) (343,102,000) (99,436,000)
Gain on disposition of developable land (5,787,000) (522,000) (30,939,000)
Property impairments on continuing operations 36,582,000    
Land and other impairments 16,817,000 32,444,000 24,566,000
Gain on sale from in unconsolidated joint ventures (35,184,000) (903,000)  
(Gain)Loss from extinguishment of debt 272,000 (1,648,000) 10,750,000
Changes in operating assets and liabilities:      
Increase in unbilled rents receivable, net (1,135,000) (7,240,000) (7,627,000)
Increase in deferred charges, goodwill and other assets (806,000) (21,921,000) (23,389,000)
(Increase) decrease in accounts receivable, net (5,117,000) 2,132,000 871,000
Increase (decrease) in accounts payable, accrued expenses and other liabilities (9,577,000) 1,820,000 12,567,000
(Decrease) Increase in rents received in advance and security deposits (2,446,000) 2,002,000 736,000
(Decrease) increase in accrued interest payable (184,000) 1,068,000 (157,000)
Net cash flows provided by operating activities - continuing operations 11,376,000 53,283,000 86,691,000
Net cash flows provided by operating activities - discontinuing operations 74,046,000 78,559,000 80,382,000
Net cash provided by operating activities 85,422,000 131,842,000 167,073,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Rental property acquisitions and related intangibles (16,811,000) (956,040,000) (164,838,000)
Rental property additions and improvements (138,688,000) (88,240,000) (113,523,000)
Development of rental property and other related costs (295,892,000) (172,309,000) (184,764,000)
Proceeds from the sales of rental property 64,947,000 825,613,000 338,015,000
Proceeds from the sale of investments in unconsolidated joint ventures 64,773,000 4,039,000  
Repayment of notes receivable 458,000 46,597,000 12,102,000
Investment in unconsolidated joint ventures (2,959,000) (9,011,000) (11,789,000)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 13,826,000 8,697,000 11,553,000
Net cash used in investing activities - continuing operations (310,346,000) (340,654,000) (113,244,000)
Net cash provided by (used in) investing activities - discontinuing operations 338,811,000 (75,421,000) (54,910,000)
Net cash provided by (used in) investing activities 28,465,000 (416,075,000) (168,154,000)
CASH FLOW FROM FINANCING ACTIVITIES      
Borrowings from revolving credit facility 212,000,000 829,000,000 461,000,000
Repayment of revolving credit facility (516,000,000) (617,000,000) (494,000,000)
Repayment of unsecured term loan   (675,000,000)  
Proceeds from mortgages and loans payable 381,577,000 877,126,000 434,293,000
Repayment of mortgages, loans payable and other obligations (86,561,000) (155,115,000) (418,495,000)
Acquisition of noncontrolling interests   (5,017,000)  
(Redemption) issuance of redeemable noncontrolling interests, net (3,153,000) 145,000,000 105,000,000
Common unit redemptions (2,693,000) (7,769,000)  
Payment of financing costs (1,677,000) (12,339,000) (3,576,000)
(Contributions) distributions to noncontrolling interests 171,000 (466,000) (7,542,000)
Distributions to redeemable noncontrolling interests (25,883,000) (21,883,000) (13,449,000)
Payment of dividends and distributions (60,532,000) (80,692,000) (80,568,000)
Net cash (used in) provided by financing activities (102,751,000) 275,845,000 (17,337,000)
Net increase (decrease) in cash and cash equivalents 11,136,000 (8,388,000) (18,418,000)
Cash, cash equivalents and restricted cash, beginning of period [2] 41,166,000 [1] 49,554,000 [1] 67,972,000
Cash, cash equivalents and restricted cash, end of period [1] $ 52,302,000 $ 41,166,000 [2] $ 49,554,000 [2]
[1] Includes Restricted Cash of $14,207, $15,577 and $19,921 as of December 31, 2020, 2019 and 2018, respectively, pursuant to the adoption of ASU 2016-15.
[2] Includes Restricted Cash of $15,577, $19,921 and $39,792 as of December 31, 2019, 2018 and 2017, respectively, pursuant to the adoption of ASU 2016-15.