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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities    
Net income (loss) $ (23,599) $ 55,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 143,609 135,179
Impairment charges 6,204 0
Amortization of non-cash items within interest expense 6,803 5,400
Amortization of acquired above- and below-market leases, net (2,953) (5,780)
Amortization of acquired below-market ground leases 5,873 5,873
Straight-lining of rental revenue (5,878) (13,781)
Equity based compensation 20,174 15,392
Settlement of derivative contract (20,281) 0
Loss on early extinguishment of debt 86 0
Increase (decrease) in cash flows due to changes in operating assets and liabilities:    
Security deposits 20,697 (25,961)
Tenant and other receivables (431) 149
Deferred leasing costs (8,241) (14,513)
Prepaid expenses and other assets 14,680 19,883
Accounts payable and accrued expenses (1,699) (2,970)
Deferred revenue and other liabilities 8,509 23,932
Net cash provided by operating activities 163,553 198,373
Cash Flows From Investing Activities    
Short-term investments 0 400,000
Development costs (1,336) (2)
Additions to building and improvements (112,018) (189,666)
Net cash (used in) provided by investing activities (113,354) 210,332
Cash Flows From Financing Activities    
Repayment of mortgage notes payable (2,939) (2,829)
Proceeds from unsecured senior notes 175,000 0
Repayment of unsecured senior notes 0 (250,000)
Proceeds from unsecured term loan 175,000 0
Repayment of unsecured term loan (50,000) 0
Proceeds from unsecured revolving credit facility 550,000 0
Repayment of unsecured revolving credit facility (550,000) 0
Deferred financing costs (3,585) 0
Repurchases of common units (121,950) 0
Distributions (65,369) (96,370)
Net cash provided by (used in) financing activities 106,157 (349,199)
Net increase in cash and cash equivalents and restricted cash 156,356 59,506
Cash and cash equivalents and restricted cash—beginning of period 271,597 270,813
Cash and cash equivalents and restricted cash—end of period 427,953 330,319
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 233,946 204,981
Restricted cash at beginning of period 37,651 65,832
Cash and cash equivalents at end of period 373,088 293,710
Restricted cash at end of period 54,865 36,609
Cash and cash equivalents and restricted cash 427,953 330,319
Supplemental disclosures of cash flow information:    
Cash paid for interest 57,170 59,173
Cash paid for income taxes 1,197 1,589
Non-cash investing and financing activities:    
Building and improvements included in accounts payable and accrued expenses 63,984 77,142
Write-off of fully depreciated assets 54,992 26,516
Derivative instruments at fair values included in accounts payable and accrued expenses 10,222 28,850
Conversion of limited partners' operating partnership units to ESRT partner's capital 23,903 21,654
Issuance of Series 2019 private perpetual preferred in exchange for common units 789 0
Right of use assets 0 29,452
Ground lease liabilities $ 0 $ 29,452