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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net income $ 61,566 $ 68,577
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 139,453 140,312
Gain on disposition of property (12,065) (29,261)
Amortization of non-cash items within interest expense 6,505 6,804
Amortization of acquired above- and below-market leases, net (1,503) (1,932)
Amortization of acquired below-market ground leases 5,874 5,873
Straight-lining of rental revenue (7,238) (17,430)
Equity based compensation 15,589 14,732
Loss on early extinguishment of debt 553 0
Increase (decrease) in cash flows due to changes in operating assets and liabilities:    
Security deposits (8,955) 14,293
Tenant and other receivables 4,243 (13,459)
Deferred costs (18,729) (11,838)
Prepaid expenses and other assets 6,480 23,569
Accounts payable and accrued expenses 12,318 (6,055)
Deferred revenue and other liabilities 6,769 1,863
Net cash provided by operating activities 210,860 196,048
Cash Flows From Investing Activities    
Additions to building and improvements (143,894) (101,379)
Acquisition of real estate property (143,431) (26,910)
Acquisition of non-controlling interests in other partnerships (14,226) 0
Reduction of cash from derecognition of assets (12,876) 0
Post-closing costs from a prior period sale of property (4,034) 0
Development costs (9) 0
Net proceeds from disposition of property 0 88,910
Net cash used in investing activities (318,470) (39,379)
Cash Flows From Financing Activities    
Proceeds from unsecured senior notes 225,000 0
Proceeds from unsecured revolving credit facility 120,000 0
Proceeds from unsecured term loan 95,000 0
Repayment of unsecured term loan (215,000) 0
Repayment of mortgage notes payable (10,513) (6,685)
Deferred financing costs (12,070) 0
Contributions from consolidated joint ventures 0 187
Repurchases of common units 0 (13,105)
Distributions (31,844) (30,791)
Net cash provided by (used in) financing activities 170,573 (50,394)
Net increase in cash and cash equivalents and restricted cash 62,963 106,275
Cash and cash equivalents and restricted cash—beginning of period 406,956 314,678
Cash and cash equivalents and restricted cash—end of period 469,919 420,953
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 346,620 264,434
Restricted cash at beginning of period 60,336 50,244
Cash and cash equivalents at end of period 421,896 353,999
Restricted cash at end of period 48,023 66,954
Cash and cash equivalents and restricted cash 469,919 420,953
Supplemental disclosures of cash flow information:    
Cash paid for interest 65,148 69,739
Cash paid for income taxes 1,530 578
Non-cash investing and financing activities:    
Building and improvements included in accounts payable and accrued expenses 29,499 44,099
Write-off of fully depreciated assets 8,770 23,058
Derivative instruments at fair values included in prepaid expenses and other assets 5,673 25,578
Derivative instruments at fair values included in accounts payable and accrued expenses 2,143 0
Contract asset 168,687 0
Debt associated with property in receivership 177,667 0
Accrued interest associated with property in receivership 3,511 0
Conversion of operating partnership units to ESRT partner's capital $ 12,042 $ 15,682