Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

v3.21.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 13,521 $ (37,844)
Net (income) loss from discontinued operations (33,743) 6,840
Net income (loss) from continuing operations (20,222) (31,004)
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 27,111 33,003
Amortization of directors deferred compensation stock units 72 82
Amortization of stock compensation 2,529 2,530
Amortization of deferred financing costs 907 1,024
Amortization of debt discount and mark-to-market 167 (237)
Equity in (earnings) loss of unconsolidated joint ventures 1,456 708
Distributions of cumulative earnings from unconsolidated joint ventures 114 815
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net   7,915
Gain on disposition of developable land   (4,813)
Land and other impairments 413 5,263
Changes in operating assets and liabilities:    
Increase in unbilled rents receivable, net (964) (1,357)
(Increase) decrease in deferred charges, goodwill and other assets 1,719 273
Decrease (increase) in accounts receivable, net 1,859 (1,673)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (3,760) 4,295
(Decrease) Increase in rents received in advance and security deposits 296 (5,132)
Increase in accrued interest payable 5,738 5,473
Net cash flows provided by operating activities - continuing operations 17,435 17,165
Net cash flows provided by operating activities - discontinuing operations 8,719 26,498
Net cash provided by operating activities 26,154 43,663
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles   (16,019)
Rental property additions and improvements (16,978) (63,004)
Development of rental property and other related costs (57,313) (71,989)
Proceeds from the sales of rental property   6,939
Repayment of notes receivable 167 83
Investment in unconsolidated joint ventures (509) (125)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 1,407 4,396
Net cash used in investing activities - continuing operations (73,226) (139,719)
Net cash provided by investing activities - discontinuing operations 263,196 56,621
Net cash provided by (used in) investing activities 189,970 (83,098)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 8,000 69,000
Repayment of revolving credit facility (33,000) (121,000)
Proceeds from mortgages and loans payable 44,150 120,658
Repayment of mortgages, loans payable and other obligations (134) (140)
Common unit redemptions   (2,141)
Payment of financing costs (450) (656)
(Contributions) distributions to noncontrolling interests 10 216
Distributions to redeemable noncontrolling interests (6,471) (6,471)
Payment of common dividends and distributions (13) (20,072)
Net cash provided by financing activities 12,092 39,394
Net increase (decrease) in cash and cash equivalents 228,216 (41)
Cash, cash equivalents and restricted cash, beginning of period [1] 52,302 41,168
Cash, cash equivalents and restricted cash, end of period [2] 280,518 41,127
Mack-Cali Realty LP [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) 13,521 (37,844)
Net (income) loss from discontinued operations (33,743) 6,840
Net income (loss) from continuing operations (20,222) (31,004)
Adjustments to reconcile net income (loss) to net cash provided by Operating activities:    
Depreciation and amortization, including related intangible assets 27,111 33,003
Amortization of directors deferred compensation stock units 72 82
Amortization of stock compensation 2,529 2,530
Amortization of deferred financing costs 907 1,024
Amortization of debt discount and mark-to-market 167 (237)
Equity in (earnings) loss of unconsolidated joint ventures 1,456 708
Distributions of cumulative earnings from unconsolidated joint ventures 114 815
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net   7,915
Gain on disposition of developable land   (4,813)
Land and other impairments 413 5,263
Changes in operating assets and liabilities:    
Increase in unbilled rents receivable, net (964) (1,357)
(Increase) decrease in deferred charges, goodwill and other assets 1,719 273
Decrease (increase) in accounts receivable, net 1,859 (1,673)
Increase (decrease) in accounts payable, accrued expenses and other liabilities (3,760) 4,295
(Decrease) Increase in rents received in advance and security deposits 296 (5,132)
Increase in accrued interest payable 5,738 5,473
Net cash flows provided by operating activities - continuing operations 17,435 17,165
Net cash flows provided by operating activities - discontinuing operations 8,719 26,498
Net cash provided by operating activities 26,154 43,663
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles   (16,019)
Rental property additions and improvements (16,978) (63,004)
Development of rental property and other related costs (57,313) (71,989)
Proceeds from the sales of rental property   6,939
Repayment of notes receivable 167 83
Investment in unconsolidated joint ventures (509) (125)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 1,407 4,396
Net cash used in investing activities - continuing operations (73,226) (139,719)
Net cash provided by investing activities - discontinuing operations 263,196 56,621
Net cash provided by (used in) investing activities 189,970 (83,098)
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 8,000 69,000
Repayment of revolving credit facility (33,000) (121,000)
Proceeds from mortgages and loans payable 44,150 120,658
Repayment of mortgages, loans payable and other obligations (134) (140)
Common unit redemptions   (2,141)
Payment of financing costs (450) (656)
(Contributions) distributions to noncontrolling interests 10 216
Distributions to redeemable noncontrolling interests (6,471) (6,471)
Payment of common dividends and distributions (13) (20,072)
Net cash provided by financing activities 12,092 39,394
Net increase (decrease) in cash and cash equivalents 228,216 (41)
Cash, cash equivalents and restricted cash, beginning of period [1] 52,302 41,168
Cash, cash equivalents and restricted cash, end of period [2] $ 280,518 $ 41,127
[1] Includes Restricted Cash of $14,207 and $15,577 as of December 31, 2020 and 2019, respectively.
[2] Includes Restricted Cash of $18,836 and $15,863 as of March 31, 2021 and 2020, respectively.