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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income $ 528,813 $ 214,418
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 179,039 265,048
Equity in net loss from unconsolidated joint ventures 31,321 15,445
Distributions of cumulative earnings from unconsolidated joint ventures 719 576
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 5,438 0
Purchase price and other fair value adjustments (209,527) 0
Depreciable real estate reserves and impairment 5,696 6,627
Gain on sale of real estate, net (285,338) (163,624)
Loan loss reserves and other investment reserves, net of recoveries 0 27,018
Deferred rents receivable (6,963) (3,459)
Non-cash lease expense 11,670 9,735
Other non-cash adjustments 27,868 14,874
Changes in operating assets and liabilities:    
Tenant and other receivables (11,827) (43,069)
Related party receivables (4,626) 4,195
Deferred lease costs (1,267) (12,472)
Other assets (118) (55,301)
Accounts payable, accrued expenses, other liabilities and security deposits (54,009) 43,256
Deferred revenue 7,412 13,206
Lease liability - operating leases (33,289) (8,530)
Net cash provided by operating activities 191,012 327,943
Investing Activities    
Acquisitions of real estate property (152,791) (86,846)
Additions to land, buildings and improvements (208,380) (281,651)
Investments in unconsolidated joint ventures (76,471) (39,724)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 749,997 104,300
Net proceeds from disposition of real estate/joint venture interest 541,268 333,037
Cash assumed from consolidation of real estate investment 9,475 0
Proceeds from sale or redemption of marketable securities 4,528 0
Purchases of marketable securities (10,000) 0
Other investments 2,401 (3,921)
Origination of debt and preferred equity investments (83,924) (353,797)
Repayments or redemption of debt and preferred equity investments 110,774 703,625
Net cash provided by investing activities 886,877 375,023
Financing Activities    
Proceeds from mortgages and other loans payable 31,219 1,128,775
Repayments of mortgages and other loans payable (372,300) (710,352)
Proceeds from revolving credit facility and unsecured notes 925,000 1,275,000
Repayments of revolving credit facility and unsecured notes (1,165,000) (1,575,000)
Proceeds from stock options exercised and DRSPP issuance 613 566
Repurchase of common stock (280,623) (381,992)
Redemption of preferred stock (3,631) (82,750)
Redemption of OP units (13,930) (18,913)
Distributions to noncontrolling interests in other partnerships (5,403) (13,126)
Contributions from noncontrolling interests in other partnerships 310 12,404
Acquisition of subsidiary interest from noncontrolling interest 0 (1,536)
Distributions to noncontrolling interests in the Operating Partnership (11,882) (8,857)
Dividends paid on common and preferred stock (205,131) (224,147)
Tax withholdings related to restricted share awards (2,989) (4,752)
Deferred loan costs (570) (34,687)
Principal payments of on financing lease liabilities (434) (580)
Net cash used in financing activities (1,104,751) (639,947)
Net (decrease) increase in cash, cash equivalents, and restricted cash (26,862) 63,019
Cash, cash equivalents, and restricted cash at beginning of year 372,795 241,430
Cash, cash equivalents, and restricted cash at end of period 345,933 304,449
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Conversion of units in the Operating Partnership 0 8,744
Redemption of units in the Operating Partnership for a joint venture sale 27,586 0
Exchange of preferred equity investment for real estate or equity in joint venture 0 119,467
Exchange of debt investment for real estate or equity in joint venture 9,468 104,211
Assumption of mortgage loan 60,000 0
Issuance of special dividend paid primarily in stock 121,418 0
Tenant improvements and capital expenditures payable 16,684 11,993
Fair value adjustment to noncontrolling interest in the Operating Partnership 17,245 35,253
Consolidation of real estate investment 119,444 0
Deconsolidation of a subsidiary 66,837 0
Deconsolidation of a subsidiary mortgage 510,000 5,593
Reversal of assets held for sale 0 391,664
Extinguishment of debt in connection with property dispositions 53,548 0
Mortgages assumed in connection with sale of real estate 0 250,000
Seller financed purchases 0 100,000
Debt and preferred equity investments 8,372 4,638
Removal of fully depreciated commercial real estate properties 7,030 7,906
Distributions to noncontrolling interests 358 0
Share repurchase payable 3,779 10,003
Sale of interest in partially owned entity 4,476 0
Recognition of sales-type leases and related lease liabilities 0 114,974
Recognition of right of use assets and related lease liabilities 115,812 57,500
Cash and cash equivalents 257,941 221,404
Restricted cash 87,992 83,045
Total cash, cash equivalents, and restricted cash 345,933 304,449
SL Green Operating Partnership    
Operating Activities    
Net income 528,813 214,418
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 179,039 265,048
Equity in net loss from unconsolidated joint ventures 31,321 15,445
Distributions of cumulative earnings from unconsolidated joint ventures 719 576
Equity in net loss on sale of interest in unconsolidated joint venture interest/real estate 5,438 0
Purchase price and other fair value adjustments (209,527) 0
Depreciable real estate reserves and impairment 5,696 6,627
Gain on sale of real estate, net (285,338) (163,624)
Loan loss reserves and other investment reserves, net of recoveries 0 27,018
Deferred rents receivable (6,963) (3,459)
Non-cash lease expense 11,670 9,735
Other non-cash adjustments 27,868 14,874
Changes in operating assets and liabilities:    
Tenant and other receivables (11,827) (43,069)
Related party receivables (4,626) 4,195
Deferred lease costs (1,267) (12,472)
Other assets (118) (55,301)
Accounts payable, accrued expenses, other liabilities and security deposits (54,009) 43,256
Deferred revenue 7,412 13,206
Lease liability - operating leases (33,289) (8,530)
Net cash provided by operating activities 191,012 327,943
Investing Activities    
Acquisitions of real estate property (152,791) (86,846)
Additions to land, buildings and improvements (208,380) (281,651)
Investments in unconsolidated joint ventures (76,471) (39,724)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 749,997 104,300
Net proceeds from disposition of real estate/joint venture interest 541,268 333,037
Cash assumed from consolidation of real estate investment 9,475 0
Proceeds from sale or redemption of marketable securities 4,528 0
Purchases of marketable securities (10,000) 0
Other investments 2,401 (3,921)
Origination of debt and preferred equity investments (83,924) (353,797)
Repayments or redemption of debt and preferred equity investments 110,774 703,625
Net cash provided by investing activities 886,877 375,023
Financing Activities    
Proceeds from mortgages and other loans payable 31,219 1,128,775
Repayments of mortgages and other loans payable (372,300) (710,352)
Proceeds from revolving credit facility and unsecured notes 925,000 1,275,000
Repayments of revolving credit facility and unsecured notes (1,165,000) (1,575,000)
Proceeds from stock options exercised and DRSPP issuance 613 566
Repurchase of common stock (280,623) (381,992)
Redemption of preferred stock (3,631) (82,750)
Redemption of OP units (13,930) (18,913)
Distributions to noncontrolling interests in other partnerships (5,403) (13,126)
Contributions from noncontrolling interests in other partnerships 310 12,404
Acquisition of subsidiary interest from noncontrolling interest 0 (1,536)
Dividends paid on common and preferred stock (217,013) (233,004)
Tax withholdings related to restricted share awards (2,989) (4,752)
Deferred loan costs (570) (34,687)
Principal payments of on financing lease liabilities (434) (580)
Net cash used in financing activities (1,104,751) (639,947)
Net (decrease) increase in cash, cash equivalents, and restricted cash (26,862) 63,019
Cash, cash equivalents, and restricted cash at beginning of year 372,795 241,430
Cash, cash equivalents, and restricted cash at end of period 345,933 304,449
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Conversion of units in the Operating Partnership 0 8,744
Redemption of units in the Operating Partnership for a joint venture sale 27,586 0
Exchange of preferred equity investment for real estate or equity in joint venture 0 119,467
Exchange of debt investment for real estate or equity in joint venture 9,468 104,211
Assumption of mortgage loan 60,000 0
Issuance of special dividend paid primarily in stock 121,418 0
Tenant improvements and capital expenditures payable 16,684 11,993
Fair value adjustment to noncontrolling interest in the Operating Partnership 17,245 35,253
Consolidation of real estate investment 119,444 0
Deconsolidation of a subsidiary 66,837 0
Deconsolidation of a subsidiary mortgage 510,000 5,593
Reversal of assets held for sale 0 391,664
Extinguishment of debt in connection with property dispositions 53,548 0
Mortgages assumed in connection with sale of real estate 0 250,000
Seller financed purchases 0 100,000
Debt and preferred equity investments 8,372 4,638
Removal of fully depreciated commercial real estate properties 7,030 7,906
Distributions to noncontrolling interests 358 0
Share repurchase payable 3,779 10,003
Sale of interest in partially owned entity 4,476 0
Recognition of sales-type leases and related lease liabilities 0 114,974
Recognition of right of use assets and related lease liabilities 115,812 57,500
Cash and cash equivalents 257,941 221,404
Restricted cash 87,992 83,045
Total cash, cash equivalents, and restricted cash $ 345,933 $ 304,449