XML 23 R8.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 69,737 $ 88,905
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 105,597 91,218
Accretion of debt premium and discount, net (695) (728)
Deferred financing cost amortization 1,766 1,796
Accretion of above- and below-market leases, net (3,276) (2,408)
Tenant inducement amortization and other 750 731
Gain on sale of real estate assets (3,070) (15,142)
Equity based compensation 4,113 3,359
Changes in operating assets and liabilities:    
Receivables, net 9,442 28,639
Deferred charges and prepaid expenses (7,140) (9,020)
Other assets 49 (1,222)
Accounts payable, accrued expenses and other liabilities (47,185) (57,612)
Net cash provided by operating activities 130,088 128,516
Investing activities:    
Improvements to and investments in real estate assets (82,509) (76,861)
Acquisitions of real estate assets (3,144) 0
Proceeds from sales of real estate assets 21,636 67,237
Purchase of marketable securities (4,477) (4,366)
Proceeds from sale of marketable securities 5,035 4,811
Net cash used in investing activities (63,459) (9,179)
Financing activities:    
Repayment of borrowings under unsecured revolving credit facility (407,000) (98,500)
Proceeds from borrowings under unsecured revolving credit facility 407,000 80,000
Proceeds from unsecured notes and term loans 399,324 399,264
Repayment of borrowings under unsecured notes (632,312) 0
Deferred financing and debt extinguishment costs (3,718) (3,766)
Net proceeds from issuances of common shares (78) 0
Distributions to common stockholders (89,465) (83,866)
Repurchases of common shares in conjunction with equity award plans (11,644) (12,962)
Net cash provided by (used in) financing activities (337,893) 280,170
Net change in cash, cash equivalents and restricted cash (271,264) 399,507
Cash, cash equivalents and restricted cash at beginning of period 378,692 18,904
Cash, cash equivalents and restricted cash at end of period 107,428 418,411
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 106,534 407,105
Restricted cash 894 11,306
Cash, cash equivalents and restricted cash at end of period 107,428 418,411
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amount capitalized of $1,264 and $920 73,213 49,384
Change in accrued capital expenditures (3,396) (454)
Brixmor Operating Partnership LP    
Operating activities:    
Net income 69,737 88,905
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 105,597 91,218
Accretion of debt premium and discount, net (695) (728)
Deferred financing cost amortization 1,766 1,796
Accretion of above- and below-market leases, net (3,276) (2,408)
Tenant inducement amortization and other 750 731
Gain on sale of real estate assets (3,070) (15,142)
Equity based compensation 4,113 3,359
Changes in operating assets and liabilities:    
Receivables, net 9,442 28,639
Deferred charges and prepaid expenses (7,140) (9,020)
Other assets 49 (1,222)
Accounts payable, accrued expenses and other liabilities (47,185) (57,612)
Net cash provided by operating activities 130,088 128,516
Investing activities:    
Improvements to and investments in real estate assets (82,509) (76,861)
Acquisitions of real estate assets (3,144) 0
Proceeds from sales of real estate assets 21,636 67,237
Purchase of marketable securities (4,477) (4,366)
Proceeds from sale of marketable securities 5,035 4,811
Net cash used in investing activities (63,459) (9,179)
Financing activities:    
Repayment of borrowings under unsecured revolving credit facility (407,000) (98,500)
Proceeds from borrowings under unsecured revolving credit facility 407,000 80,000
Proceeds from unsecured notes and term loans 399,324 399,264
Repayment of borrowings under unsecured notes (632,312) 0
Deferred financing and debt extinguishment costs (3,718) (3,766)
Net proceeds from issuances of common shares (78) 0
Partner distributions and repurchases of OP Units (101,533) (97,423)
Net cash provided by (used in) financing activities (338,317) 279,575
Net change in cash, cash equivalents and restricted cash (271,688) 398,912
Cash, cash equivalents and restricted cash at beginning of period 378,032 18,904
Cash, cash equivalents and restricted cash at end of period 106,344 417,816
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 105,450 406,510
Restricted cash 894 11,306
Cash, cash equivalents and restricted cash at end of period 106,344 417,816
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amount capitalized of $1,264 and $920 73,213 49,384
Change in accrued capital expenditures $ (3,396) $ (454)