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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows From Operating Activities    
Net income $ 2,995 $ 15,778
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,219 48,779
Gain on disposition of property 0 (13,170)
Amortization of non-cash items within interest expense 2,304 2,175
Settlement of interest rate hedge contracts 1,104 0
Amortization of acquired above- and below-market leases, net (670) (798)
Amortization of acquired below-market ground leases 1,958 1,958
Straight-lining of rental revenue (7,209) (5,283)
Equity based compensation 5,872 4,980
Increase (decrease) in cash flows due to changes in operating assets and liabilities:    
Security deposits (313) 2,136
Tenant and other receivables (1,604) 2,356
Deferred costs (8,573) (7,812)
Prepaid expenses and other assets 33,312 31,809
Accounts payable and accrued expenses (9,390) 250
Deferred revenue and other liabilities (1,095) (12)
Net cash provided by operating activities 68,910 83,146
Cash Flows From Investing Activities    
Additions to building and improvements (18,186) (42,063)
Acquisition of real estate property (46,479) 0
Net cash used in investing activities (64,665) (42,063)
Cash Flows From Financing Activities    
Repayment of unsecured senior notes 0 (100,000)
Proceeds from unsecured revolving credit facility 15,000 0
Repayment of unsecured revolving credit facility (70,000) (120,000)
Proceeds from mortgage notes payable 53,500 0
Repayment of mortgage notes payable (50,961) (889)
Deferred financing costs (736) (404)
Taxes paid on withholding shares (710) (897)
Private perpetual preferred unit distributions (1,050) (1,050)
Distributions (9,653) (9,733)
Net cash used in financing activities (64,610) (232,973)
Net decrease in cash and cash equivalents and restricted cash (60,365) (191,890)
Cash and cash equivalents and restricted cash—beginning of period 166,511 429,302
Cash and cash equivalents and restricted cash—end of period 106,146 237,412
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 132,657 385,465
Restricted cash at beginning of period 33,854 43,837
Cash and cash equivalents at end of period 68,820 187,823
Restricted cash at end of period 37,326 49,589
Cash and cash equivalents and restricted cash 106,146 237,412
Supplemental disclosures of cash flow information:    
Cash paid for interest 19,074 20,357
Cash paid for income taxes 281 1,220
Non-cash investing and financing activities:    
Building and improvements included in accounts payable and accrued expenses 56,596 79,042
Write-off of fully depreciated assets 8,902 9,270
Write-off of fully amortized deferred costs 8,703 0
Write-off of fully amortized acquired below-market leases 17,737 0
Interest capitalized in building and improvements 916 0
Derivative instruments at fair values included in prepaid expenses and other assets 6,378 7,035
Contract asset 0 (171,003)
Debt associated with property in receivership 0 177,667
Accrued interest associated with property in receivership 0 6,080
Conversion of operating partnership units to ESRT partner's capital $ 5,989 $ 1,585