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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 76,907 $ 67,925 $ 56,915
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization, including amortization of debt issuance costs 33,671 31,919 31,395
Straight-lining of rental income (1,418) (2,538) (3,707)
Stock-based compensation expense 600 394 394
Reversal of income tax liability 0 (420) (206)
Change in operating assets and liabilities:      
Tenant and other receivables, net (1,801) 712 (972)
Other assets (4,777) (4,334) (472)
Amounts due to Vornado 2,228 (42,779) (3,138)
Accounts payable and accrued expenses 822 (1,373) (6,284)
Other liabilities (31) (19) (42)
Net cash provided by operating activities 106,201 49,487 73,883
CASH FLOWS FROM INVESTING ACTIVITIES      
Construction in progress and real estate additions (50,121) (61,964) (7,671)
Proceeds from maturing (purchases of) short-term investments 24,998 (24,998) 0
Restricted cash (705) 5,442 351
Net cash used in investing activities (25,828) (81,520) (7,320)
CASH FLOWS FROM FINANCING ACTIVITIES      
Debt repayments (323,193) (317,179) (15,957)
Proceeds from borrowing 350,000 300,000 0
Dividends paid (71,571) (66,436) (56,197)
Debt issuance costs (4,075) (4,255) (87)
Net cash used in financing activities (48,839) (87,870) (72,241)
Net increase (decrease) in cash and cash equivalents 31,534 (119,903) (5,678)
Cash and cash equivalents at beginning of year 227,815 347,718 353,396
Cash and cash equivalents at end of year 259,349 227,815 347,718
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash payments for interest, excluding capitalized interest of $1,486 and $603 in 2015 and 2014, respectively 22,354 30,656 42,121
NON-CASH TRANSACTIONS      
Liability for real estate additions, including $5,795 and $3,394 due to Vornado in 2015 and 2014, respectively 10,139 13,529 1,084
Write-off of fully amortized and/or depreciated assets $ 20,786 $ 10,626 $ 0