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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net income $ 58,016 $ 57,731
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 83,404 78,637
Gain on sale of real estate 0 (1,702)
Income from partnerships (32) (516)
Straight-line rent (5,207) (2,478)
Share-based compensation expense 4,160 4,097
Other, net (1,001) (1,277)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Increase in accounts receivable, net (500) (466)
Decrease in prepaid expenses and other assets 3,624 3,563
Increase in accounts payable and accrued expenses 7,194 1,941
(Decrease) increase in security deposits and other liabilities (8,498) 3,477
Net cash provided by operating activities 141,160 143,007
INVESTING ACTIVITIES    
Acquisition of real estate 0 (35,340)
Capital expenditures - development and redevelopment (35,993) (50,780)
Capital expenditures - other (27,754) (25,737)
Proceeds from sale of real estate 0 12,626
Distribution from partnerships in excess of earnings 1,454 2,174
Leasing costs (4,649) (3,754)
Net cash used in investing activities (66,942) (100,811)
FINANCING ACTIVITIES    
Net borrowings under revolving credit facility 12,500 60,000
Issuance of senior notes, net of costs 471,576 0
Repayment of senior notes (600,000) 0
Costs to extend and issue notes and mortgages payable (902) 0
Repayment of mortgages, finance leases, and notes payable (819) (819)
Purchase of capped calls (19,448) 0
Issuance of common shares, net of costs 6,312 6,245
Dividends paid to common and preferred shareholders (91,883) (89,431)
Shares withheld for employee taxes (4,614) (4,645)
Contributions from noncontrolling interests 725 0
Distributions to and redemptions of redeemable noncontrolling interests (2,848) (2,616)
Net cash used in financing activities (229,401) (31,266)
(Decrease) increase in cash, cash equivalents and restricted cash (155,183) 10,930
Cash, cash equivalents, and restricted cash at beginning of year 260,004 96,348
Cash, cash equivalents, and restricted cash at end of period 104,821 107,278
Federal Realty OP LP    
OPERATING ACTIVITIES    
Net income 58,016 57,731
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 83,404 78,637
Gain on sale of real estate 0 (1,702)
Income from partnerships (32) (516)
Straight-line rent (5,207) (2,478)
Share-based compensation expense 4,160 4,097
Other, net (1,001) (1,277)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Increase in accounts receivable, net (500) (466)
Decrease in prepaid expenses and other assets 3,624 3,563
Increase in accounts payable and accrued expenses 7,194 1,941
(Decrease) increase in security deposits and other liabilities (8,498) 3,477
Net cash provided by operating activities 141,160 143,007
INVESTING ACTIVITIES    
Acquisition of real estate 0 (35,340)
Capital expenditures - development and redevelopment (35,993) (50,780)
Capital expenditures - other (27,754) (25,737)
Proceeds from sale of real estate 0 12,626
Distribution from partnerships in excess of earnings 1,454 2,174
Leasing costs (4,649) (3,754)
Net cash used in investing activities (66,942) (100,811)
FINANCING ACTIVITIES    
Net borrowings under revolving credit facility 12,500 60,000
Issuance of senior notes, net of costs 471,576 0
Repayment of senior notes (600,000) 0
Costs to extend and issue notes and mortgages payable (902) 0
Repayment of mortgages, finance leases, and notes payable (819) (819)
Purchase of capped calls (19,448) 0
Issuance of common units, net of costs 6,312 6,245
Dividends paid to common and preferred unit holders (91,883) (89,431)
Shares withheld for employee taxes (4,614) (4,645)
Contributions from noncontrolling interests 725 0
Distributions to and redemptions of redeemable noncontrolling interests (2,848) (2,616)
Net cash used in financing activities (229,401) (31,266)
(Decrease) increase in cash, cash equivalents and restricted cash (155,183) 10,930
Cash, cash equivalents, and restricted cash at beginning of year 260,004 96,348
Cash, cash equivalents, and restricted cash at end of period $ 104,821 $ 107,278