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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 142,799 $ 68,825
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 164,632 163,846
Accretion of debt premium and discount, net (1,435) (144)
Deferred financing cost amortization 3,764 3,619
Accretion of above- and below-market leases, net (7,125) (8,224)
Tenant inducement amortization and other 3,012 1,789
Impairment of real estate assets 1,898 10,560
Gain on sale of real estate assets (38,367) (9,597)
Equity based compensation 6,791 4,607
Loss on extinguishment of debt, net 1,229 10,391
Changes in operating assets and liabilities:    
Receivables, net 8,706 (42,672)
Deferred charges and prepaid expenses (13,270) (10,552)
Other assets (208) (201)
Accounts payable, accrued expenses and other liabilities 2,436 (12,683)
Net cash provided by operating activities 274,862 179,564
Investing activities:    
Improvements to and investments in real estate assets (135,253) (158,120)
Acquisitions of real estate assets (66,716) (2,020)
Proceeds from sales of real estate assets 99,748 46,633
Purchase of marketable securities (7,915) (10,733)
Proceeds from sale of marketable securities 9,100 8,219
Net cash used in investing activities (101,036) (116,021)
Financing activities:    
Repayment of secured debt obligations 0 (7,000)
Repayment of borrowings under unsecured revolving credit facility 0 (507,500)
Proceeds from borrowings under unsecured revolving credit facility 0 646,000
Proceeds from unsecured notes 349,360 498,880
Repayment of borrowings under unsecured term loans (350,000) (182,479)
Deferred financing and debt extinguishment costs (3,414) (14,049)
Distributions to common stockholders (129,101) (170,397)
Repurchases of common shares 0 (25,007)
Repurchases of common shares in conjunction with equity award plans (5,372) (3,523)
Net cash provided by (used in) financing activities (138,527) 234,925
Net change in cash, cash equivalents and restricted cash 35,299 298,468
Cash, cash equivalents and restricted cash at beginning of period 370,087 21,523
Cash, cash equivalents and restricted cash at end of period 405,386 319,991
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 404,144 318,540
Restricted cash 1,242 1,451
Cash, cash equivalents and restricted cash at end of period 405,386 319,991
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amount capitalized of $1,817 and $2,177 95,523 94,593
Brixmor Operating Partnership LP    
Operating activities:    
Net income 142,799 68,825
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 164,632 163,846
Accretion of debt premium and discount, net (1,435) (144)
Deferred financing cost amortization 3,764 3,619
Accretion of above- and below-market leases, net (7,125) (8,224)
Tenant inducement amortization and other 3,012 1,789
Impairment of real estate assets 1,898 10,560
Gain on sale of real estate assets (38,367) (9,597)
Equity based compensation 6,791 4,607
Loss on extinguishment of debt, net 1,229 10,391
Changes in operating assets and liabilities:    
Receivables, net 8,706 (42,672)
Deferred charges and prepaid expenses (13,270) (10,552)
Other assets (208) (201)
Accounts payable, accrued expenses and other liabilities 2,436 (12,683)
Net cash provided by operating activities 274,862 179,564
Investing activities:    
Improvements to and investments in real estate assets (135,253) (158,120)
Acquisitions of real estate assets (66,716) (2,020)
Proceeds from sales of real estate assets 99,748 46,633
Purchase of marketable securities (7,915) (10,733)
Proceeds from sale of marketable securities 9,100 8,219
Net cash used in investing activities (101,036) (116,021)
Financing activities:    
Repayment of secured debt obligations 0 (7,000)
Repayment of borrowings under unsecured revolving credit facility 0 (507,500)
Proceeds from borrowings under unsecured revolving credit facility 0 646,000
Proceeds from unsecured notes 349,360 498,880
Repayment of borrowings under unsecured term loans (350,000) (182,479)
Deferred financing and debt extinguishment costs (3,414) (14,049)
Partner distributions and repurchases of OP Units (134,473) (208,925)
Net cash provided by (used in) financing activities (138,527) 224,927
Net change in cash, cash equivalents and restricted cash 35,299 288,470
Cash, cash equivalents and restricted cash at beginning of period 360,073 21,507
Cash, cash equivalents and restricted cash at end of period 395,372 309,977
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 394,130 308,526
Restricted cash 1,242 1,451
Cash, cash equivalents and restricted cash at end of period 395,372 309,977
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amount capitalized of $1,817 and $2,177 $ 95,523 $ 94,593