DETAILS OF CASH FLOWS

12 Months Ended

Dec. 31, 2023


17.			DETAILS OF CASH FLOWS

(a)Items not involving operating cash flows are shown in the following table:




Years ended December 31,	2023		2022

Straight-line rent amortization	$	(16,690)	$	(10,596)
Tenant incentive amortization	4,403		4,149
Unit-based compensation expense (recovery) (note 13(b))	10,213		(167)
Fair value losses on investment properties, net	172,676		219,728
Depreciation and amortization	1,272		1,598
Fair value losses (gains) on financial instruments, net (note 14(e))	17,296		(11,383)
Loss on sale of investment properties	1,505		666
Amortization of issuance costs relating to debentures and term loans	1,953		1,729
Amortization of deferred financing costs	535		582
Deferred income tax recovery (note 15(a))	(16,195)		(71,045)

Other	33		(173)
	$	177,001	$	135,088

(b)Changes in working capital balances are shown in the following table:




Years ended December 31,	2023		2022
Accounts receivable	$	(200)	$	1,674
Prepaid expenses and other	(3,390)		(2,269)
Accounts payable and accrued liabilities	(1,727)		(4,209)
Deferred revenue	654		4,702

	$	(4,663)	$	(102)

(c)Non-cash investing and financing activities

For the year ended December 31, 2023, 41 thousand stapled units (2022 — 44 thousand stapled units) with a value of $3.4 million (2022 — $4.1 million) were issued under the Restricted Stapled Unit Plan (note 13(b)) and are not recorded in the combined statements of cash flows.

In addition, for the year ended December 31, 2023, the total impact from the foreign currency translations on the secured debt, unsecured debt and related derivatives of $19.0 million loss (2022 — $40.8 million gain) is not recorded in the combined statements of cash flows.

Cash and cash equivalents consist of:




As at December 31,	2023		2022
Cash	$	115,714	$	127,091
Short-term deposits	420		7,990
	$	116,134	$	135,081