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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net (loss) income $ (3,855) $ 127,114
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 66,770 70,779
Equity in net loss from unconsolidated joint ventures 2,864 12,814
Distributions of cumulative earnings from unconsolidated joint ventures 69 108
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 12,629 0
Purchase price and other fair value adjustments (2,664) 0
Depreciable real estate reserves and impairment 8,241 0
Loss (gain) on sale of real estate, net 1,388 (72,636)
Loan loss reserves and other investment reserves, net of recoveries 0 11,248
Deferred rents receivable (2,685) 3,717
Non-cash lease expense 3,375 3,390
Other non-cash adjustments 15,564 1,110
Changes in operating assets and liabilities:    
Tenant and other receivables (4,138) (44,960)
Related party receivables (683) (4,711)
Deferred lease costs (240) (8,603)
Other assets (24,354) (48,130)
Accounts payable, accrued expenses, other liabilities and security deposits (38,640) (13,877)
Deferred revenue 4,121 7,622
Lease liability - operating leases (19,160) (2,959)
Net cash provided by operating activities 18,602 42,026
Investing Activities    
Acquisitions of real estate property 0 (86,846)
Additions to land, buildings and improvements (49,328) (101,726)
Investments in unconsolidated joint ventures (21,027) (8,906)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 19,692 53,516
Net proceeds from disposition of real estate/joint venture interest 62,800 91,156
Cash assumed from consolidation of real estate investment 9,475 0
Proceeds from sale or redemption of marketable securities 4,528 0
Other investments (54) (4,786)
Origination of debt and preferred equity investments (5,905) (223,374)
Repayments or redemption of debt and preferred equity investments 0 151,548
Net cash provided by (used in) investing activities 20,181 (129,418)
Financing Activities    
Proceeds from mortgages and other loans payable 10,391 101,103
Repayments of mortgages and other loans payable (362,542) (102,777)
Proceeds from revolving credit facility and unsecured notes 530,000 1,125,000
Repayments of revolving credit facility and unsecured notes (10,000) (315,000)
Proceeds from stock options exercised and DRSPP issuance 351 166
Repurchase of common stock (84,089) (219,576)
Redemption of preferred stock (3,631) (19,392)
Redemption of OP units (13,261) (18,066)
Distributions to noncontrolling interests in other partnerships (110) (492)
Contributions from noncontrolling interests in other partnerships 171 3,814
Acquisition of subsidiary interest from noncontrolling interest 0 (1,536)
Distributions to noncontrolling interests in the Operating Partnership (4,148) (1,284)
Dividends paid on common and preferred stock (69,772) (79,662)
Tax withholdings related to restricted share awards (2,788) (4,752)
Deferred loan costs (288) (562)
Principal payments of on financing lease liabilities (255) 0
Net cash (used in) provided by financing activities (9,971) 466,984
Net increase in cash, cash equivalents, and restricted cash 28,812 379,592
Cash, cash equivalents, and restricted cash at beginning of year 372,795 241,430
Cash, cash equivalents, and restricted cash at end of period 401,607 621,022
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Conversion of units in the Operating Partnership 0 84
Issuance of special dividend paid primarily in stock 123,529 0
Tenant improvements and capital expenditures payable 15,214 602
Fair value adjustment to noncontrolling interest in the Operating Partnership 26,609 0
Consolidation of real estate investment 119,444 0
Reversal of assets held for sale 0 391,664
Extinguishment of debt in connection with property dispositions 53,548 0
Seller financed purchases 0 100,000
Debt and preferred equity investments 10,000 4,638
Removal of fully depreciated commercial real estate properties 1,120 512
Share repurchase payable 3,779 0
Recognition of right of use assets and related lease liabilities 119,711 102,782
Total cash, cash equivalents, and restricted cash 401,607 621,022
SL Green Operating Partnership    
Operating Activities    
Net (loss) income (3,855) 127,114
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 66,770 70,779
Equity in net loss from unconsolidated joint ventures 2,864 12,814
Distributions of cumulative earnings from unconsolidated joint ventures 69 108
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 12,629 0
Purchase price and other fair value adjustments (2,664) 0
Depreciable real estate reserves and impairment 8,241 0
Loss (gain) on sale of real estate, net 1,388 (72,636)
Loan loss reserves and other investment reserves, net of recoveries 0 11,248
Deferred rents receivable (2,685) 3,717
Non-cash lease expense 3,375 3,390
Other non-cash adjustments 15,564 1,110
Changes in operating assets and liabilities:    
Tenant and other receivables (4,138) (44,960)
Related party receivables (683) (4,711)
Deferred lease costs (240) (8,603)
Other assets (24,354) (48,130)
Accounts payable, accrued expenses, other liabilities and security deposits (38,640) (13,877)
Deferred revenue 4,121 7,622
Lease liability - operating leases (19,160) (2,959)
Net cash provided by operating activities 18,602 42,026
Investing Activities    
Acquisitions of real estate property 0 (86,846)
Additions to land, buildings and improvements (49,328) (101,726)
Investments in unconsolidated joint ventures (21,027) (8,906)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 19,692 53,516
Net proceeds from disposition of real estate/joint venture interest 62,800 91,156
Cash assumed from consolidation of real estate investment 9,475 0
Proceeds from sale or redemption of marketable securities 4,528 0
Other investments (54) (4,786)
Origination of debt and preferred equity investments (5,905) (223,374)
Repayments or redemption of debt and preferred equity investments 0 151,548
Net cash provided by (used in) investing activities 20,181 (129,418)
Financing Activities    
Proceeds from mortgages and other loans payable 10,391 101,103
Repayments of mortgages and other loans payable (362,542) (102,777)
Proceeds from revolving credit facility and unsecured notes 530,000 1,125,000
Repayments of revolving credit facility and unsecured notes (10,000) (315,000)
Proceeds from stock options exercised and DRSPP issuance 351 166
Repurchase of common stock (84,089) (219,576)
Redemption of preferred stock (3,631) (19,392)
Redemption of OP units (13,261) (18,066)
Distributions to noncontrolling interests in other partnerships (110) (492)
Contributions from noncontrolling interests in other partnerships 171 3,814
Acquisition of subsidiary interest from noncontrolling interest 0 (1,536)
Dividends paid on common and preferred stock (73,920) (80,946)
Tax withholdings related to restricted share awards (2,788) (4,752)
Deferred loan costs (288) (562)
Principal payments of on financing lease liabilities (255) 0
Net cash (used in) provided by financing activities (9,971) 466,984
Net increase in cash, cash equivalents, and restricted cash 28,812 379,592
Cash, cash equivalents, and restricted cash at beginning of year 372,795 241,430
Cash, cash equivalents, and restricted cash at end of period 401,607 621,022
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Conversion of units in the Operating Partnership 0 84
Issuance of special dividend paid primarily in stock 123,529 0
Tenant improvements and capital expenditures payable 15,214 602
Fair value adjustment to noncontrolling interest in the Operating Partnership 26,609 0
Consolidation of real estate investment 119,444 0
Reversal of assets held for sale 0 391,664
Extinguishment of debt in connection with property dispositions 53,548 0
Seller financed purchases 0 100,000
Debt and preferred equity investments 10,000 4,638
Removal of fully depreciated commercial real estate properties 1,120 512
Share repurchase payable 3,779 0
Recognition of right of use assets and related lease liabilities 119,711 102,782
Total cash, cash equivalents, and restricted cash $ 401,607 $ 621,022