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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 68,825 $ 131,860
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 163,846 166,988
(Accretion) amortization of debt premium and discount, net (144) 948
Deferred financing cost amortization 3,619 3,551
Accretion of above- and below-market leases, net (8,224) (9,646)
Tenant inducement amortization and other 1,789 1,814
Impairment of real estate assets 10,560 9,298
Gain on sale of real estate assets (9,597) (20,645)
Equity based compensation 4,607 5,611
Loss on extinguishment of debt, net 10,391 677
Changes in operating assets and liabilities:    
Receivables, net (42,672) (7,628)
Deferred charges and prepaid expenses (10,552) (14,610)
Other assets (201) 42
Accounts payable, accrued expenses and other liabilities (12,683) (17,253)
Net cash provided by operating activities 179,564 251,007
Investing activities:    
Improvements to and investments in real estate assets (158,120) (169,529)
Acquisitions of real estate assets (2,020) (79,634)
Proceeds from sales of real estate assets 46,633 95,139
Purchase of marketable securities (10,733) (24,202)
Proceeds from sale of marketable securities 8,219 38,942
Net cash used in investing activities (116,021) (139,284)
Financing activities:    
Repayment of secured debt obligations (7,000) 0
Repayment of borrowings under unsecured revolving credit facility (507,500) (337,000)
Proceeds from borrowings under unsecured revolving credit facility 646,000 176,000
Proceeds from unsecured notes 498,880 399,216
Repayment of borrowings under unsecured term loans and notes (182,479) (200,000)
Deferred financing and debt extinguishment costs (14,049) (3,402)
Distributions to common stockholders (170,397) (167,772)
Repurchases of common shares (25,007) (14,563)
Repurchases of common shares in conjunction with equity award plans (3,523) (1,711)
Net cash provided by (used in) financing activities 234,925 (149,232)
Net change in cash, cash equivalents and restricted cash 298,468 (37,509)
Cash, cash equivalents and restricted cash at beginning of period 21,523 50,765
Cash, cash equivalents and restricted cash at end of period 319,991 13,256
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 318,540 10,809
Cash, cash equivalents and restricted cash at end of period 319,991 13,256
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amount capitalized of $2,177 and $1,404 94,593 87,170
Brixmor Operating Partnership LP    
Operating activities:    
Net income 68,825 131,860
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 163,846 166,988
(Accretion) amortization of debt premium and discount, net (144) 948
Deferred financing cost amortization 3,619 3,551
Accretion of above- and below-market leases, net (8,224) (9,646)
Tenant inducement amortization and other 1,789 1,814
Impairment of real estate assets 10,560 9,298
Gain on sale of real estate assets (9,597) (20,645)
Equity based compensation 4,607 5,611
Loss on extinguishment of debt, net 10,391 677
Changes in operating assets and liabilities:    
Receivables, net (42,672) (7,628)
Deferred charges and prepaid expenses (10,552) (14,610)
Other assets (201) 42
Accounts payable, accrued expenses and other liabilities (12,683) (17,253)
Net cash provided by operating activities 179,564 251,007
Investing activities:    
Improvements to and investments in real estate assets (158,120) (169,529)
Acquisitions of real estate assets (2,020) (79,634)
Proceeds from sales of real estate assets 46,633 95,139
Purchase of marketable securities (10,733) (24,200)
Proceeds from sale of marketable securities 8,219 38,942
Net cash used in investing activities (116,021) (139,282)
Financing activities:    
Repayment of secured debt obligations (7,000) 0
Repayment of borrowings under unsecured revolving credit facility (507,500) (337,000)
Proceeds from borrowings under unsecured revolving credit facility 646,000 176,000
Proceeds from unsecured notes 498,880 399,216
Repayment of borrowings under unsecured term loans and notes (182,479) (200,000)
Deferred financing and debt extinguishment costs (14,049) (3,402)
Partner distributions and repurchases of OP Units (208,925) (183,941)
Net cash provided by (used in) financing activities 224,927 (149,127)
Net change in cash, cash equivalents and restricted cash 288,470 (37,402)
Cash, cash equivalents and restricted cash at beginning of period 21,507 50,639
Cash, cash equivalents and restricted cash at end of period 309,977 13,237
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 308,526 10,790
Cash, cash equivalents and restricted cash at end of period 309,977 13,237
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amount capitalized of $2,177 and $1,404 $ 94,593 $ 87,170