Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2023

Supplemental Cash Flow Elements [Abstract]

The following table provides supplemental cash flow information (in thousands):


	Nine Months Ended September 30,
	2023		2022
Supplemental cash flow information:
Interest paid, net of capitalized interest	$	151,753	$	138,972
Income taxes paid (refunded)	1,258		(2,003)
Capitalized interest	42,879		26,970
Supplemental schedule of non-cash investing and financing activities:
Increase in ROU asset in exchange for new lease liability related to operating leases	1,160		954

Accrued construction costs	116,931		160,937


Net noncash impact from the consolidation of property previously held in an unconsolidated joint venture	993		—
Retained investment in connection with South San Francisco JVs transaction	—		293,265

Operating, investing, and financing cash flows in the Consolidated Statements of Cash Flows are reported inclusive of both cash flows from continuing operations and cash flows from discontinued operations. The following table summarizes certain cash flow information related to discontinued operations (in thousands):


	Nine Months Ended September 30,
	2023		2022

Leasing costs, tenant improvements, and recurring capital expenditures	$	—	$	21
Development, redevelopment, and other major improvements of real estate	—		18
Depreciation and amortization of real estate, in-place lease, and other intangibles	—		—

The following table summarizes cash, cash equivalents, and restricted cash (in thousands):


	Nine Months Ended September 30,
	2023		2022		2023		2022		2023		2022
	Continuing operations				Discontinued operations				Total
Beginning of period:
Cash and cash equivalents	$	72,032	$	158,287	$	—	$	7,707	$	72,032	$	165,994
Restricted cash	54,802		53,454		—		—		54,802		53,454
Cash, cash equivalents, and restricted cash	$	126,834	$	211,741	$	—	$	7,707	$	126,834	$	219,448
End of period:
Cash and cash equivalents	$	63,478	$	112,452	$	—	$	2,172	$	63,478	$	114,624
Restricted cash	50,449		54,500		—		—		50,449		54,500
Cash, cash equivalents, and restricted cash	$	113,927	$	166,952	$	—	$	2,172	$	113,927	$	169,124

Cash and Cash Equivalents

The Company maintains its cash and cash equivalents at financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per institution. As of September 30, 2023 and December 31, 2022, the account balances at certain institutions exceeded the FDIC insurance coverage.