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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 29,346 $ 43,780
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 15,587 17,503
Net gain on sale of real estate 0 (9,124)
Straight-lining of rental income 3,948 5,019
Stock-based compensation expense 450 450
Change in fair value of marketable securities 0 (4,280)
Other non-cash adjustments (611) 0
Change in operating assets and liabilities:    
Tenant and other receivables, net 1,978 554
Other assets 23,699 (16,917)
Amounts due to Vornado 38 (276)
Accounts payable and accrued expenses 18,727 26,138
Other liabilities 166 (328)
Net cash provided by operating activities 93,328 62,519
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (3,800) (10,086)
Proceeds from sale of real estate 0 9,291
Return of short-term investment 0 3,600
Purchase of U.S. Treasury bills (197,407) 0
Net cash (used in) provided by investing activities (201,207) 2,805
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (46,120) (46,100)
Debt issuance costs (8) (45)
Net cash used in financing activities (46,128) (46,145)
Net (decrease) increase in cash and cash equivalents (154,007) 19,179
Cash and cash equivalents and restricted cash at beginning of period 483,505 449,877
Cash and cash equivalents and restricted cash at end of period 329,498 469,056
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 463,539 428,710
Restricted cash at beginning of period 19,966 21,167
Cash and cash equivalents and restricted cash at beginning of period 483,505 449,877
Cash and cash equivalents at end of period 310,349 447,687
Restricted cash at end of period 19,149 21,369
Cash and cash equivalents and restricted cash at end of period 329,498 469,056
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 8,540 9,401
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $3 and $79 for development fees due to Vornado in 2022 and 2021, respectively 1,426 1,776
Write-off of fully depreciated assets $ 23 $ 5,628