XML 43 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flow from operating activities:      
Net income $ 665,949 $ 114,534 $ 849,696
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 507,265 505,000 395,320
Impairment charges 14,043 21,958 3,597
Straight-line rental income adjustments, net (22,517) (33,794) (22,627)
Amortization of above-market and below-market leases, net (17,253) (13,591) (14,843)
Amortization of deferred financing costs and fair value debt adjustments, net (9,196) (28,631) (9,445)
Early extinguishment of debt charges 0 7,658 0
Equity award expense 33,054 26,639 23,150
Gain on sale of properties (74,976) (15,179) (30,841)
(Gain)/loss on marketable securities, net (21,262) 315,508 (505,163)
(Gain)/loss on change in fair value of embedded derivative liability (734) 0 0
Equity in income, net (10,709) (17,403) (23,172)
Distributions from joint ventures and other investments 75,827 83,553 91,507
Change in accounts and notes receivable, net 18,453 (9,104) 4,548
Change in accounts payable and accrued expenses 5,826 37,655 (104,712)
Change in other operating assets and liabilities, net (19,885) (24,208) 46,638
Net cash flow provided by operating activities 1,071,607 861,114 618,875
Cash flow from investing activities:      
Acquisition of operating real estate and other related net assets (277,308) (300,772) (355,953)
Improvements to operating real estate (264,395) (193,710) (163,699)
Acquisition of Weingarten Realty Investors, net of cash acquired of $56,451 0 0 (263,973)
Investment in marketable securities (3,614) (4,003) 0
Proceeds from sale of marketable securities 292,552 302,504 377
Investment in cost method investments (1,569) (4,524) 0
Investments in and advances to real estate joint ventures (24,494) (87,301) (12,571)
Reimbursements of investments in and advances to real estate joint ventures 13,738 37,571 47,862
Investments in and advances to other investments (18,442) (17,432) (67,090)
Reimbursements of investments in and advances to other investments 282 30,855 64,068
Investment in mortgage and other financing receivables (18,519) (75,063) (41,897)
Collection of mortgage and other financing receivables 133 60,306 13,776
Proceeds from sale of properties 160,064 184,294 302,841
Principal payments from securities held-to-maturity 4,589 4,058 0
Net cash flow used for investing activities (136,983) (63,217) (476,259)
Cash flow from financing activities:      
Principal payments on debt, excluding normal amortization of rental property debt (49,460) (157,928) (229,288)
Principal payments on rental property debt (11,308) (9,808) (10,622)
Proceeds from mortgage loan financings 0 19,000 0
Financing origination costs (12,481) (20,326) (8,197)
Payment of early extinguishment of debt charges 0 (6,955) 0
Contributions from noncontrolling interests 13 891 0
Redemption/distribution of noncontrolling interests (58,417) (67,453) (34,610)
Dividends paid (657,460) (544,740) (382,132)
Proceeds from issuance of stock, net 3,727 15,513 82,989
Repurchase of preferred stock (1,491) (3,441) 0
Shares repurchased for employee tax withholding on equity awards (16,293) (13,679) (20,842)
Change in tenants' security deposits 2,474 5,255 1,561
Net cash flow used for financing activities (300,696) (982,731) (101,141)
Net change in cash, cash equivalents and restricted cash 633,928 (184,834) 41,475
Cash, cash equivalents and restricted cash, beginning of year 149,829 334,663 293,188
Cash, cash equivalents and restricted cash, end of year 783,757 149,829 334,663
Interest paid during the year including payment of early extinguishment of debt charges of $0, $6,955 and $0, respectively (net of capitalized interest of $2,313, $668 and $583, respectively) 250,432 257,979 197,947
Income taxes paid during the year, net of refunds 65,267 11,869 1,961
Senior Unsecured Notes [Member]      
Cash flow from financing activities:      
Proceeds from unsecured debt 500,000 1,250,000 500,000
Repayments of unsecured notes 0 (1,449,060) 0
Joint Ventures [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income, net (72,278) (109,481) (84,778)
Other Real Estate Investments [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income, net (10,709) (17,403) (23,172)
Kimco Realty OP, LLC [Member]      
Cash flow from operating activities:      
Net income 665,949 114,534 849,696
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 507,265 505,000 395,320
Impairment charges 14,043 21,958 3,597
Straight-line rental income adjustments, net (22,517) (33,794) (22,627)
Amortization of above-market and below-market leases, net (17,253) (13,591) (14,843)
Amortization of deferred financing costs and fair value debt adjustments, net (9,196) (28,631) (9,445)
Early extinguishment of debt charges 0 7,658 0
Equity award expense 33,054 26,639 23,150
Gain on sale of properties (74,976) (15,179) (30,841)
(Gain)/loss on marketable securities, net (21,262) 315,508 (505,163)
(Gain)/loss on change in fair value of embedded derivative liability (734) 0 0
Distributions from joint ventures and other investments 75,827 83,553 91,507
Change in accounts and notes receivable, net 18,453 (9,104) 4,548
Change in accounts payable and accrued expenses 5,826 37,655 (104,712)
Change in other operating assets and liabilities, net (19,885) (24,208) 46,638
Net cash flow provided by operating activities 1,071,607 861,114 618,875
Cash flow from investing activities:      
Acquisition of operating real estate and other related net assets (277,308) (300,772) (355,953)
Improvements to operating real estate (264,395) (193,710) (163,699)
Acquisition of Weingarten Realty Investors, net of cash acquired of $56,451 0 0 (263,973)
Investment in marketable securities (3,614) (4,003) 0
Proceeds from sale of marketable securities 292,552 302,504 377
Investment in cost method investments (1,569) (4,524) 0
Investments in and advances to real estate joint ventures (24,494) (87,301) (12,571)
Reimbursements of investments in and advances to real estate joint ventures 13,738 37,571 47,862
Investments in and advances to other investments (18,442) (17,432) (67,090)
Reimbursements of investments in and advances to other investments 282 30,855 64,068
Collection of mortgage and other financing receivables 133 60,306 13,776
Proceeds from sale of properties 160,064 184,294 302,841
Principal payments from securities held-to-maturity 4,589 4,058 0
Net cash flow used for investing activities (136,983) (63,217) (476,259)
Investment in mortgage and other financing receivables (18,519) (75,063) (41,897)
Cash flow from financing activities:      
Principal payments on debt, excluding normal amortization of rental property debt (49,460) (157,928) (229,288)
Principal payments on rental property debt (11,308) (9,808) (10,622)
Proceeds from mortgage loan financings 0 19,000 0
Financing origination costs (12,481) (20,326) (8,197)
Payment of early extinguishment of debt charges 0 (6,955) 0
Contributions from noncontrolling interests 13 891 0
Redemption/distribution of noncontrolling interests (58,417) (67,453) (34,610)
Dividends paid (657,460) (544,740) (382,132)
Proceeds from issuance of stock, net 3,727 15,513 82,989
Repurchase of preferred stock (1,491) (3,441) 0
Shares repurchased for employee tax withholding on equity awards (16,293) (13,679) (20,842)
Change in tenants' security deposits 2,474 5,255 1,561
Net cash flow used for financing activities (300,696) (982,731) (101,141)
Net change in cash, cash equivalents and restricted cash 633,928 (184,834) 41,475
Cash, cash equivalents and restricted cash, beginning of year 149,829 334,663 293,188
Cash, cash equivalents and restricted cash, end of year 783,757 149,829 334,663
Interest paid during the year including payment of early extinguishment of debt charges of $0, $6,955 and $0, respectively (net of capitalized interest of $2,313, $668 and $583, respectively) 250,432 257,979 197,947
Income taxes paid during the year, net of refunds 65,267 11,869 1,961
Kimco Realty OP, LLC [Member] | Senior Unsecured Notes [Member]      
Cash flow from financing activities:      
Proceeds from unsecured debt 500,000 1,250,000 500,000
Repayments of unsecured notes 0 (1,449,060) 0
Kimco Realty OP, LLC [Member] | Joint Ventures [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income, net (72,278) (109,481) (84,778)
Kimco Realty OP, LLC [Member] | Other Real Estate Investments [Member]      
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in income, net $ (10,709) $ (17,403) $ (23,172)