Consolidated Statements Of Cash Flows - USD ($) $ in Thousands |
12 Months Ended |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
| Net income |
|
$ 106,401
|
|
$ 33,718
|
|
$ 130,294
|
|
| Adjustments to reconcile net income to net cash provided by Operating activities: |
|
|
|
|
|
|
|
| Depreciation and amortization, including related intangible assets and liabilities |
|
170,284
|
|
198,674
|
|
186,549
|
|
| Amortization of directors deferred compensation stock units |
|
507
|
|
482
|
|
372
|
|
| Amortization of stock compensation |
|
6,894
|
|
7,447
|
|
5,646
|
|
| Amortization of deferred financing costs |
|
5,028
|
|
4,612
|
|
4,582
|
|
| Amortization of debt discount and mark-to-market |
|
(948)
|
|
(287)
|
|
1,686
|
|
| Equity in (earnings) loss of unconsolidated joint ventures |
|
127
|
|
6,081
|
|
(18,788)
|
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
|
9,182
|
|
8,186
|
|
6,120
|
|
| Gain on change of control of interests |
|
(14,217)
|
|
|
|
(15,347)
|
|
| Realized (gains) losses and unrealized losses on disposition of rental property, net |
|
(99,436)
|
|
(2,364)
|
|
(109,666)
|
|
| Gain on disposition of developable land |
|
(30,939)
|
|
|
|
|
|
| Gain on sale of investments in unconsolidated joint ventures |
|
|
|
(23,131)
|
|
(5,670)
|
|
| Loss (gain) from extinguishment of debt |
|
10,750
|
|
421
|
|
(12,420)
|
|
| Land impairments |
|
24,566
|
|
|
|
|
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
| Increase in unbilled rents receivable, net |
|
(7,519)
|
|
(11,286)
|
|
(12,775)
|
|
| Increase in deferred charges, goodwill and other assets |
|
(29,377)
|
|
(19,710)
|
|
(33,878)
|
|
| Decrease in accounts receivable, net |
|
1,382
|
|
2,831
|
|
596
|
|
| Increase (decrease) in accounts payable, accrued expenses and other liabilities |
|
13,915
|
|
(9,012)
|
|
(14,535)
|
|
| Increase (decrease) in rents received in advance and security deposits |
|
875
|
|
(1,817)
|
|
(3,297)
|
|
| (Decrease) increase in accrued interest payable |
|
(402)
|
|
1,296
|
|
(9,362)
|
|
| Net cash provided by operating activities |
|
167,073
|
|
196,141
|
|
100,107
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
| Rental property acquisitions and related intangibles |
|
(164,838)
|
|
(619,350)
|
|
(407,869)
|
|
| Rental property additions and improvements |
|
(168,398)
|
|
(90,068)
|
|
(121,582)
|
|
| Development of rental property and other related costs |
|
(184,799)
|
|
(267,845)
|
|
(206,955)
|
|
| Proceeds from the sales of rental property |
|
338,015
|
|
312,596
|
|
604,978
|
|
| Proceeds from the sale of investments in unconsolidated joint ventures |
|
|
|
98,599
|
|
6,420
|
|
| Investments in notes receivable |
|
|
|
(47,049)
|
|
|
|
| Repayment of notes receivable |
|
12,102
|
|
74,945
|
|
500
|
|
| Investment in unconsolidated joint ventures |
|
(11,789)
|
|
(36,060)
|
|
(35,930)
|
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
|
11,553
|
|
5,877
|
|
22,231
|
|
| Proceeds from investment receivable |
|
|
|
3,625
|
|
|
|
| Net cash used in investing activities |
|
(168,154)
|
|
(564,730)
|
|
(138,207)
|
|
| CASH FLOW FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
| Borrowings from revolving credit facility |
|
461,000
|
|
730,000
|
|
1,165,000
|
|
| Repayment of revolving credit facility |
|
(494,000)
|
|
(866,000)
|
|
(1,034,000)
|
|
| Repayment of senior unsecured notes |
|
|
|
(250,000)
|
|
(448,339)
|
|
| Borrowings from unsecured term loan |
|
|
|
325,000
|
|
350,000
|
|
| Proceeds from mortgages and loans payable |
|
434,293
|
|
518,852
|
|
474,344
|
|
| Repayment of mortgages, loans payable and other obligations |
|
(418,495)
|
|
(156,760)
|
|
(349,426)
|
|
| Acquisition of noncontrolling interests |
|
|
|
(2,021)
|
|
(37,946)
|
|
| Issuance of redeemable noncontrolling interests, net |
|
105,000
|
|
139,002
|
|
|
|
| Payment of financing costs |
|
(3,576)
|
|
(9,230)
|
|
(9,414)
|
|
| Contributions from (to) noncontrolling interests, net |
|
(7,542)
|
|
(19)
|
|
1,065
|
|
| Payment of dividends and distributions |
|
(94,017)
|
|
(77,826)
|
|
(60,041)
|
|
| Net cash (used in) provided by financing activities |
|
(17,337)
|
|
350,998
|
|
51,243
|
|
| Net (decrease) increase in cash and cash equivalents |
|
(18,418)
|
|
(17,591)
|
|
13,143
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
[2] |
67,972
|
[1] |
85,563
|
[1] |
72,420
|
|
| Cash, cash equivalents and restricted cash, end of period |
[1] |
49,554
|
|
67,972
|
[2] |
85,563
|
[2] |
| Mack-Cali Realty LP [Member] |
|
|
|
|
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
| Net income |
|
106,401
|
|
33,718
|
|
130,294
|
|
| Adjustments to reconcile net income to net cash provided by Operating activities: |
|
|
|
|
|
|
|
| Depreciation and amortization, including related intangible assets and liabilities |
|
170,284
|
|
198,674
|
|
186,549
|
|
| Amortization of directors deferred compensation stock units |
|
507
|
|
482
|
|
372
|
|
| Amortization of stock compensation |
|
6,894
|
|
7,447
|
|
5,646
|
|
| Amortization of deferred financing costs |
|
5,028
|
|
4,612
|
|
4,582
|
|
| Amortization of debt discount and mark-to-market |
|
(948)
|
|
(287)
|
|
1,686
|
|
| Equity in (earnings) loss of unconsolidated joint ventures |
|
127
|
|
6,081
|
|
(18,788)
|
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
|
9,182
|
|
8,186
|
|
6,120
|
|
| Gain on change of control of interests |
|
(14,217)
|
|
|
|
(15,347)
|
|
| Realized (gains) losses and unrealized losses on disposition of rental property, net |
|
(99,436)
|
|
(2,364)
|
|
(109,666)
|
|
| Gain on disposition of developable land |
|
(30,939)
|
|
|
|
|
|
| Gain on sale of investments in unconsolidated joint ventures |
|
|
|
(23,131)
|
|
(5,670)
|
|
| Loss (gain) from extinguishment of debt |
|
10,750
|
|
421
|
|
(12,420)
|
|
| Land impairments |
|
24,566
|
|
|
|
|
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
| Increase in unbilled rents receivable, net |
|
(7,519)
|
|
(11,286)
|
|
(12,775)
|
|
| Increase in deferred charges, goodwill and other assets |
|
(29,377)
|
|
(19,710)
|
|
(33,878)
|
|
| Decrease in accounts receivable, net |
|
1,382
|
|
2,831
|
|
596
|
|
| Increase (decrease) in accounts payable, accrued expenses and other liabilities |
|
13,915
|
|
(9,012)
|
|
(14,535)
|
|
| Increase (decrease) in rents received in advance and security deposits |
|
875
|
|
(1,817)
|
|
(3,297)
|
|
| (Decrease) increase in accrued interest payable |
|
(402)
|
|
1,296
|
|
(9,362)
|
|
| Net cash provided by operating activities |
|
167,073
|
|
196,141
|
|
100,107
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
| Rental property acquisitions and related intangibles |
|
(164,838)
|
|
(619,350)
|
|
(407,869)
|
|
| Rental property additions and improvements |
|
(168,398)
|
|
(90,068)
|
|
(121,582)
|
|
| Development of rental property and other related costs |
|
(184,799)
|
|
(267,845)
|
|
(206,955)
|
|
| Proceeds from the sales of rental property |
|
338,015
|
|
312,596
|
|
604,978
|
|
| Proceeds from the sale of investments in unconsolidated joint ventures |
|
|
|
98,599
|
|
6,420
|
|
| Investments in notes receivable |
|
|
|
(47,049)
|
|
|
|
| Repayment of notes receivable |
|
12,102
|
|
74,945
|
|
500
|
|
| Investment in unconsolidated joint ventures |
|
(11,789)
|
|
(36,060)
|
|
(35,930)
|
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
|
11,553
|
|
5,877
|
|
22,231
|
|
| Proceeds from investment receivable |
|
|
|
3,625
|
|
|
|
| Net cash used in investing activities |
|
(168,154)
|
|
(564,730)
|
|
(138,207)
|
|
| CASH FLOW FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
| Borrowings from revolving credit facility |
|
461,000
|
|
730,000
|
|
1,165,000
|
|
| Repayment of revolving credit facility |
|
(494,000)
|
|
(866,000)
|
|
(1,034,000)
|
|
| Repayment of senior unsecured notes |
|
|
|
(250,000)
|
|
(448,339)
|
|
| Borrowings from unsecured term loan |
|
|
|
325,000
|
|
350,000
|
|
| Proceeds from mortgages and loans payable |
|
434,293
|
|
518,852
|
|
474,344
|
|
| Repayment of mortgages, loans payable and other obligations |
|
(418,495)
|
|
(156,760)
|
|
(349,426)
|
|
| Acquisition of noncontrolling interests |
|
|
|
(2,021)
|
|
(37,946)
|
|
| Issuance of redeemable noncontrolling interests, net |
|
105,000
|
|
139,002
|
|
|
|
| Payment of financing costs |
|
(3,576)
|
|
(9,230)
|
|
(9,414)
|
|
| Contributions from (to) noncontrolling interests, net |
|
(7,542)
|
|
(19)
|
|
1,065
|
|
| Payment of dividends and distributions |
|
(94,017)
|
|
(77,826)
|
|
(60,041)
|
|
| Net cash (used in) provided by financing activities |
|
(17,337)
|
|
350,998
|
|
51,243
|
|
| Net (decrease) increase in cash and cash equivalents |
|
(18,418)
|
|
(17,591)
|
|
13,143
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
[2] |
67,972
|
[1] |
85,563
|
[1] |
72,420
|
|
| Cash, cash equivalents and restricted cash, end of period |
[1] |
$ 49,554
|
|
$ 67,972
|
[2] |
$ 85,563
|
[2] |
|
|