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Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
Cash Flows from Operating Activities:    
Net income $ 213,044 $ 282
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gains on disposition of wholly owned and partially owned assets (220,294) 0
Depreciation and amortization (including amortization of deferred financing costs) 123,135 115,337
Stock-based compensation expense 31,654 13,669
Distributions of income from partially owned entities 14,316 20,559
Equity in net (income) loss of partially owned entities (7,320) 9,904
Amortization of below-market leases, net (6,525) (10,581)
Straight-lining of rents 1,140 (7,430)
(Increase) decrease in fair value of marketable securities (461) 32,986
Net realized and unrealized (gain) loss on real estate fund investments (100) 911
Return of capital from real estate fund investments 0 14,966
Other non-cash adjustments 1,639 1,067
Changes in operating assets and liabilities:    
Real estate fund investments (4,000) (2,950)
Tenant and other receivables, net (835) (5,702)
Prepaid assets (82,862) 77,053
Other assets (6,044) (15,151)
Accounts payable and accrued expenses 10,426 19,835
Other liabilities (2,795) 663
Net cash provided by operating activities 64,118 265,418
Cash Flows from Investing Activities:    
Proceeds from sale of condominium units at 220 Central Park South 425,484 0
Proceeds from sales of marketable securities 167,755 0
Development costs and construction in progress (143,302) (86,808)
Moynihan Train Hall expenditures (123,533) 0
Proceeds from sale of real estate and related investment 108,512 0
Additions to real estate (55,759) (54,284)
Distributions of capital from partially owned entities 24,851 2,086
Investments in partially owned entities (918) (7,519)
Proceeds from repayments of loans receivable 204 0
Acquisitions of real estate and other 0 (44,095)
Net cash provided by (used in) investing activities 403,294 (190,620)
Cash Flows from Financing Activities:    
Repayments of borrowings (686,555) (144,822)
Proceeds from borrowings 456,741 185,701
Dividends paid on common shares / Distributions to Vornado (125,876) (119,764)
Moynihan Train Hall reimbursement from Empire State Development 123,533 0
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (16,252) (13,266)
Dividends paid on preferred shares / Distributions to preferred unitholders (12,534) (16,628)
Debt issuance costs (10,860) (3,300)
Repurchase of shares / Class A units related to stock compensation arrangements and related tax withholdings and other (8,692) (784)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 5,194 8,370
Proceeds received from exercise of employee share options and other 1,511 3,769
Redemption of preferred shares / units (893) (470,000)
Debt prepayment and extinguishment costs 0 (818)
Net cash used in financing activities (274,683) (571,542)
Net increase (decrease) in cash and cash equivalents and restricted cash 192,729 (496,744)
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812
Cash and cash equivalents and restricted cash at end of period 909,634 1,418,068
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 570,916 1,817,655
Restricted cash at beginning of period 145,989 97,157
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812
Cash and cash equivalents at end of period 307,047 1,327,384
Restricted cash at end of period 593,759 90,684
Restricted cash included in assets held for sale at end of period 8,828 0
Cash and cash equivalents and restricted cash at end of period 909,634 1,418,068
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $21,371 and $13,272 85,796 84,566
Cash payments for income taxes 8,741 1,646
Reclassification of assets and related liabilities held for sale:    
Assets held for sale 3,027,058 0
Liabilities related to assets held for sale 1,097,350 0
Lease liabilities arising from the recognition of right-of-use assets 526,866 0
Reclassification of condominium units from development costs and construction in progress to 220 Central Park South condominium units ready for sale 395,893 0
Accrued capital expenditures included in accounts payable and accrued expenses 77,115 51,431
Adjustments to carry redeemable Class A units at redemption value (65,818) 114,856
Write-off of fully depreciated assets (58,309) (15,707)
Amounts related to our investment in Pennsylvania Real Estate Investment Trust reclassified from investments in partially owned entities and accumulated other comprehensive income to marketable securities upon conversion of operating partnership units to common shares 54,962 0
Vornado Realty L.P.    
Cash Flows from Operating Activities:    
Net income 213,044 282
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gains on disposition of wholly owned and partially owned assets (220,294) 0
Depreciation and amortization (including amortization of deferred financing costs) 123,135 115,337
Stock-based compensation expense 31,654 13,669
Distributions of income from partially owned entities 14,316 20,559
Equity in net (income) loss of partially owned entities (7,320) 9,904
Amortization of below-market leases, net (6,525) (10,581)
Straight-lining of rents 1,140 (7,430)
(Increase) decrease in fair value of marketable securities (461) 32,986
Net realized and unrealized (gain) loss on real estate fund investments (100) 911
Return of capital from real estate fund investments 0 14,966
Other non-cash adjustments 1,639 1,067
Changes in operating assets and liabilities:    
Real estate fund investments (4,000) (2,950)
Tenant and other receivables, net (835) (5,702)
Prepaid assets (82,862) 77,053
Other assets (6,044) (15,151)
Accounts payable and accrued expenses 10,426 19,835
Other liabilities (2,795) 663
Net cash provided by operating activities 64,118 265,418
Cash Flows from Investing Activities:    
Proceeds from sale of condominium units at 220 Central Park South 425,484 0
Proceeds from sales of marketable securities 167,755 0
Development costs and construction in progress (143,302) (86,808)
Moynihan Train Hall expenditures (123,533) 0
Proceeds from sale of real estate and related investment 108,512 0
Additions to real estate (55,759) (54,284)
Distributions of capital from partially owned entities 24,851 2,086
Investments in partially owned entities (918) (7,519)
Proceeds from repayments of loans receivable 204 0
Acquisitions of real estate and other 0 (44,095)
Net cash provided by (used in) investing activities 403,294 (190,620)
Cash Flows from Financing Activities:    
Repayments of borrowings (686,555) (144,822)
Proceeds from borrowings 456,741 185,701
Dividends paid on common shares / Distributions to Vornado (125,876) (119,764)
Moynihan Train Hall reimbursement from Empire State Development 123,533 0
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (16,252) (13,266)
Dividends paid on preferred shares / Distributions to preferred unitholders (12,534) (16,628)
Debt issuance costs (10,860) (3,300)
Repurchase of shares / Class A units related to stock compensation arrangements and related tax withholdings and other (8,692) (784)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 5,194 8,370
Proceeds received from exercise of employee share options and other 1,511 3,769
Redemption of preferred shares / units (893) (470,000)
Debt prepayment and extinguishment costs 0 (818)
Net cash used in financing activities (274,683) (571,542)
Net increase (decrease) in cash and cash equivalents and restricted cash 192,729 (496,744)
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812
Cash and cash equivalents and restricted cash at end of period 909,634 1,418,068
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 570,916 1,817,655
Restricted cash at beginning of period 145,989 97,157
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812
Cash and cash equivalents at end of period 307,047 1,327,384
Restricted cash at end of period 593,759 90,684
Restricted cash included in assets held for sale at end of period 8,828 0
Cash and cash equivalents and restricted cash at end of period 909,634 1,418,068
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $21,371 and $13,272 85,796 84,566
Cash payments for income taxes 8,741 1,646
Reclassification of assets and related liabilities held for sale:    
Assets held for sale 3,027,058 0
Liabilities related to assets held for sale 1,097,350 0
Lease liabilities arising from the recognition of right-of-use assets 526,866 0
Reclassification of condominium units from development costs and construction in progress to 220 Central Park South condominium units ready for sale 395,893 0
Accrued capital expenditures included in accounts payable and accrued expenses 77,115 51,431
Adjustments to carry redeemable Class A units at redemption value (65,818) 114,856
Write-off of fully depreciated assets (58,309) (15,707)
Amounts related to our investment in Pennsylvania Real Estate Investment Trust reclassified from investments in partially owned entities and accumulated other comprehensive income to marketable securities upon conversion of operating partnership units to common shares $ 54,962 $ 0