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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 43,780 $ 16,903
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 17,503 17,792
Net gain on sale of real estate (9,124) 0
Straight-lining of rental income 5,019 8,820
Write-off of tenant receivables 0 1,022
Stock-based compensation 450 600
Change in fair value of marketable securities (4,280) 9,558
Dividends received in stock 0 (214)
Changes in operating assets and liabilities:    
Tenant and other receivables 554 (2,646)
Other assets (16,917) 1,687
Amounts due to Vornado (276) (692)
Accounts payable and accrued expenses 26,138 241
Other liabilities (328) (315)
Net cash provided by operating activities 62,519 52,756
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (10,086) (13,009)
Proceeds from sale of land 9,291 0
Return of short-term investment 3,600 0
Net cash provided by (used in) investing activities 2,805 (13,009)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (46,100) (46,068)
Debt issuance costs (45) (99)
Proceeds from borrowing 0 145,708
Net cash (used in) provided by financing activities (46,145) 99,541
Net increase in cash and cash equivalents and restricted cash 19,179 139,288
Cash and cash equivalents and restricted cash at beginning of period 449,877 313,977
Cash and cash equivalents and restricted cash at end of period 469,056 453,265
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 428,710 298,063
Restricted cash at beginning of period 21,167 15,914
Cash and cash equivalents and restricted cash at beginning of period 449,877 313,977
Cash and cash equivalents at end of period 447,687 441,905
Restricted cash at end of period 21,369 11,360
Cash and cash equivalents and restricted cash at end of period 469,056 453,265
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 9,401 13,510
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $79 and $269 for development fees due to Vornado in 2021 and 2020, respectively 1,776 3,289
Write-off of fully depreciated assets $ 5,628 $ 367