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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net income $ 172,671 $ 120,735
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 168,453 157,611
Gain on sale of real estate (52,280) (1,702)
Income from partnerships (937) (2,181)
Straight-line rent (10,686) (5,021)
Share-based compensation expense 7,639 7,445
Other, net (990) (2,611)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Decrease in accounts receivable, net 16,294 3,018
Decrease in prepaid expenses and other assets 15,084 13,505
Increase (decrease) in accounts payable and accrued expenses 1,383 (1,431)
(Decrease) increase in security deposits and other liabilities (5,748) 2,908
Net cash provided by operating activities 310,883 292,276
INVESTING ACTIVITIES    
Acquisition of real estate (213,875) (59,568)
Capital expenditures - development and redevelopment (68,616) (104,666)
Capital expenditures - other (55,489) (50,913)
Proceeds from sale of real estate 96,324 12,626
Distribution from partnerships in excess of earnings 2,142 7,569
Leasing costs (13,113) (9,247)
Net cash used in investing activities (252,627) (204,199)
FINANCING ACTIVITIES    
Net borrowings under revolving credit facility 81,800 31,500
Issuance of senior notes, net of costs 471,507 345,685
Repayment of senior notes (600,000) (275,000)
Costs to extend and issue notes and mortgages payable (902) 0
Repayment of mortgages, finance leases, and notes payable (1,640) (1,636)
Purchase of capped calls (19,448) 0
Issuance of common shares, net of costs 70,938 6,246
Dividends paid to common and preferred shareholders (183,875) (179,043)
Shares withheld for employee taxes (4,686) (4,711)
Contributions from noncontrolling interests 725 927
Distributions to and acquisition/redemptions of noncontrolling interests (18,862) (5,637)
Net cash used in financing activities (204,443) (81,669)
(Decrease) increase in cash, cash equivalents and restricted cash (146,187) 6,408
Cash, cash equivalents, and restricted cash at beginning of year 260,004 96,348
Cash, cash equivalents, and restricted cash at end of period 113,817 102,756
Federal Realty OP LP    
OPERATING ACTIVITIES    
Net income 172,671 120,735
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 168,453 157,611
Gain on sale of real estate (52,280) (1,702)
Income from partnerships (937) (2,181)
Straight-line rent (10,686) (5,021)
Share-based compensation expense 7,639 7,445
Other, net (990) (2,611)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Decrease in accounts receivable, net 16,294 3,018
Decrease in prepaid expenses and other assets 15,084 13,505
Increase (decrease) in accounts payable and accrued expenses 1,383 (1,431)
(Decrease) increase in security deposits and other liabilities (5,748) 2,908
Net cash provided by operating activities 310,883 292,276
INVESTING ACTIVITIES    
Acquisition of real estate (213,875) (59,568)
Capital expenditures - development and redevelopment (68,616) (104,666)
Capital expenditures - other (55,489) (50,913)
Proceeds from sale of real estate 96,324 12,626
Distribution from partnerships in excess of earnings 2,142 7,569
Leasing costs (13,113) (9,247)
Net cash used in investing activities (252,627) (204,199)
FINANCING ACTIVITIES    
Net borrowings under revolving credit facility 81,800 31,500
Issuance of senior notes, net of costs 471,507 345,685
Repayment of senior notes (600,000) (275,000)
Costs to extend and issue notes and mortgages payable (902) 0
Repayment of mortgages, finance leases, and notes payable (1,640) (1,636)
Purchase of capped calls (19,448) 0
Issuance of common units, net of costs 70,938 6,246
Dividends paid to common and preferred unit holders (183,875) (179,043)
Shares withheld for employee taxes (4,686) (4,711)
Contributions from noncontrolling interests 725 927
Distributions to and acquisition/redemptions of noncontrolling interests (18,862) (5,637)
Net cash used in financing activities (204,443) (81,669)
(Decrease) increase in cash, cash equivalents and restricted cash (146,187) 6,408
Cash, cash equivalents, and restricted cash at beginning of year 260,004 96,348
Cash, cash equivalents, and restricted cash at end of period $ 113,817 $ 102,756