Cash Flow Information

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

5. CASH FLOW INFORMATION

We consider all highly liquid short-term investments with a maturity of three months or less at purchase or acquisition to be cash equivalents.

At March 31, 2022 and 2021, cash and cash equivalents and restricted cash totaled $61.1 million and $53.9 million, respectively, and

included tenant security deposits of $1.7 million and $1.4 million, respectively.

Cash paid for interest was $16.5 million and $16.3 million for the three months ended March 31, 2022 and 2021, respectively, net of amounts capitalized of $24 thousand and $0.1 million, respectively.

In our statement of cash flows, we report cash flows on our revolving facilities on a net basis. Aggregate repayments on our First Lien Revolving Facility and Term Loan were $0.7 million and $1.7 million, respectively, for the three months ended March 31, 2022. We had no borrowings or repayments on our First Lien Revolving Facility for the three months ended March 31, 2021.

Accrued construction costs decreased by $3.8 million and increased by $0.3 million for the three months ended March 31, 2022 and 2021, respectively, representing non-cash changes in investment in real estate and construction in progress.

The following table provides a summary of cash, cash equivalents, and restricted cash reported within the statement of cash flows as of March 31, 2022 and 2021.


	March 31,
(in thousands of dollars)	2022		2021
Cash and cash equivalents	$	45,554	$	44,637
Restricted cash included in other assets		15,547		9,279
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	61,101	$	53,916

Our restricted cash consists of cash held in escrow by banks for real estate taxes and other purposes.