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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,226 $ 14,532
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization, including amortization of debt issuance costs 7,899 7,762
Straight-lining of rents 2,067 2,139
Other non-cash adjustments 1,741 0
Change in operating assets and liabilities:    
Tenant and other receivables (959) 610
Other assets 2,959 11,445
Amounts due to Vornado (128) 1,195
Accounts payable and accrued expenses (4,063) (5,522)
Other liabilities (6) 24
Net cash provided by operating activities 20,736 32,185
CASH FLOWS FROM INVESTING ACTIVITIES    
Construction in progress and real estate additions (2,060) (1,158)
Proceeds from maturities of U.S. Treasury bills 166,832 0
Net cash provided by (used in) investing activities 164,772 (1,158)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (23,072) (23,060)
Debt issuance costs (38) 0
Net cash used in financing activities (23,110) (23,060)
Net increase in cash and cash equivalents and restricted cash 162,398 7,967
Cash and cash equivalents and restricted cash at beginning of period 214,478 483,505
Cash and cash equivalents and restricted cash at end of period 376,876 491,472
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 194,933 463,539
Restricted cash at beginning of period 19,545 19,966
Cash and cash equivalents and restricted cash at beginning of period 214,478 483,505
Cash and cash equivalents at end of period 356,507 472,484
Restricted cash at end of period 20,369 18,988
Cash and cash equivalents and restricted cash at end of period 376,876 491,472
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest, net of amounts capitalized in 2022 11,476 3,728
NON-CASH TRANSACTIONS    
Liability for real estate additions, including $3 for development fees due to Vornado in 2022 1,481 1,232
Write-off of fully depreciated assets 4,044 0
Reclassification of asset held for sale $ 13,794 $ 0