Consolidated Statements Of Cash Flows - USD ($)
|
3 Months Ended |
Mar. 31, 2019 |
Mar. 31, 2018 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
| Net income |
|
$ 275,594,000
|
$ 50,688,000
|
| Adjustments to reconcile net income (loss) to net cash provided by Operating activities: |
|
|
|
| Depreciation and amortization, including related intangible assets |
|
47,294,000
|
39,489,000
|
| Amortization of directors deferred compensation stock units |
|
130,000
|
125,000
|
| Amortization of stock compensation |
|
1,880,000
|
2,532,000
|
| Amortization of deferred financing costs |
|
1,189,000
|
1,096,000
|
| Amortization of debt discount and mark-to-market |
|
(237,000)
|
(237,000)
|
| Write off of unamortized deferred finance costs related to early extinguishment |
|
|
105,000
|
| Equity in (earnings) loss of unconsolidated joint ventures |
|
681,000
|
(1,572,000)
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
|
1,553,000
|
2,119,000
|
| Gain on change of control of interests |
|
(13,790,000)
|
|
| Realized (gains) losses and unrealized losses on disposition of rental property, net |
|
(268,109,000)
|
(58,186,000)
|
| Gain on sale of investments in unconsolidated joint ventures |
|
(903,000)
|
|
| (Gain)Loss from extinguishment of debt |
|
(1,311,000)
|
10,289,000
|
| Changes in operating assets and liabilities: |
|
|
|
| Increase in unbilled rents receivable, net |
|
(2,789,000)
|
(3,788,000)
|
| Increase in deferred charges, goodwill and other assets |
|
(6,774,000)
|
(1,899,000)
|
| Increase in accounts receivable, net |
|
(1,830,000)
|
(545,000)
|
| Increase in accounts payable, accrued expenses and other liabilities |
|
15,942,000
|
14,134,000
|
| Decrease in rents received in advance and security deposits |
|
(7,784,000)
|
(2,118,000)
|
| Increase in accrued interest payable |
|
5,301,000
|
4,667,000
|
| Net cash provided by operating activities |
|
46,037,000
|
56,899,000
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
| Rental property acquisitions and related intangibles |
|
(222,893,000)
|
(365,000)
|
| Rental property additions and improvements |
|
(43,307,000)
|
(55,935,000)
|
| Development of rental property and other related costs |
|
(38,568,000)
|
(50,038,000)
|
| Proceeds from the sales of rental property |
|
330,369,000
|
243,244,000
|
| Proceeds from the sale of investments in unconsolidated joint ventures |
|
4,039,000
|
|
| Repayment of notes receivable |
|
125,000
|
3,337,000
|
| Investment in unconsolidated joint ventures |
|
(2,443,000)
|
(1,266,000)
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
|
1,566,000
|
4,571,000
|
| Net cash provided by investing activities |
|
28,888,000
|
143,548,000
|
| CASH FLOW FROM FINANCING ACTIVITIES |
|
|
|
| Borrowings from revolving credit facility |
|
92,000,000
|
322,000,000
|
| Repayment of revolving credit facility |
|
(204,000,000)
|
(281,000,000)
|
| Repayment of unsecured term loan |
|
(90,000,000)
|
|
| Proceeds from mortgages and loans payable |
|
121,537,000
|
41,090,000
|
| Repayment of mortgages, loans payable and other obligations |
|
(25,183,000)
|
(277,287,000)
|
| Acquisition of noncontrolling interests |
|
(5,017,000)
|
|
| Issuance of redeemable noncontrolling interests, net |
|
45,000,000
|
10,000,000
|
| Payment of financing costs |
|
(1,363,000)
|
(255,000)
|
| Distributions to noncontrolling interests |
|
(99,000)
|
|
| Payment of dividends and distributions |
|
(24,732,000)
|
(22,830,000)
|
| Net cash used in financing activities |
|
(91,857,000)
|
(208,282,000)
|
| Net decrease in cash and cash equivalents |
|
(16,932,000)
|
(7,835,000)
|
| Cash, cash equivalents and restricted cash, beginning of period |
[1] |
49,554,000
|
67,972,000
|
| Cash, cash equivalents and restricted cash, end of period |
[2] |
32,622,000
|
60,137,000
|
| Mack-Cali Realty LP [Member] |
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
| Net income |
|
275,594,000
|
50,688,000
|
| Adjustments to reconcile net income (loss) to net cash provided by Operating activities: |
|
|
|
| Depreciation and amortization, including related intangible assets |
|
47,294,000
|
39,489,000
|
| Amortization of directors deferred compensation stock units |
|
130,000
|
125,000
|
| Amortization of stock compensation |
|
1,880,000
|
2,532,000
|
| Amortization of deferred financing costs |
|
1,189,000
|
1,096,000
|
| Amortization of debt discount and mark-to-market |
|
(237,000)
|
(237,000)
|
| Write off of unamortized deferred finance costs related to early extinguishment |
|
|
105,000
|
| Equity in (earnings) loss of unconsolidated joint ventures |
|
681,000
|
(1,572,000)
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
|
1,553,000
|
2,119,000
|
| Gain on change of control of interests |
|
(13,790,000)
|
|
| Realized (gains) losses and unrealized losses on disposition of rental property, net |
|
(268,109,000)
|
(58,186,000)
|
| Gain on sale of investments in unconsolidated joint ventures |
|
(903,000)
|
|
| (Gain)Loss from extinguishment of debt |
|
(1,311,000)
|
10,289,000
|
| Changes in operating assets and liabilities: |
|
|
|
| Increase in unbilled rents receivable, net |
|
(2,789,000)
|
(3,788,000)
|
| Increase in deferred charges, goodwill and other assets |
|
(6,774,000)
|
(1,899,000)
|
| Increase in accounts receivable, net |
|
(1,830,000)
|
(545,000)
|
| Increase in accounts payable, accrued expenses and other liabilities |
|
15,942,000
|
14,134,000
|
| Decrease in rents received in advance and security deposits |
|
(7,784,000)
|
(2,118,000)
|
| Increase in accrued interest payable |
|
5,301,000
|
4,667,000
|
| Net cash provided by operating activities |
|
46,037,000
|
56,899,000
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
| Rental property acquisitions and related intangibles |
|
(222,893,000)
|
(365,000)
|
| Rental property additions and improvements |
|
(43,307,000)
|
(55,935,000)
|
| Development of rental property and other related costs |
|
(38,568,000)
|
(50,038,000)
|
| Proceeds from the sales of rental property |
|
330,369,000
|
243,244,000
|
| Proceeds from the sale of investments in unconsolidated joint ventures |
|
4,039,000
|
|
| Repayment of notes receivable |
|
125,000
|
3,337,000
|
| Investment in unconsolidated joint ventures |
|
(2,443,000)
|
(1,266,000)
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
|
1,566,000
|
4,571,000
|
| Net cash provided by investing activities |
|
28,888,000
|
143,548,000
|
| CASH FLOW FROM FINANCING ACTIVITIES |
|
|
|
| Borrowings from revolving credit facility |
|
92,000,000
|
322,000,000
|
| Repayment of revolving credit facility |
|
(204,000,000)
|
(281,000,000)
|
| Repayment of unsecured term loan |
|
(90,000,000)
|
|
| Proceeds from mortgages and loans payable |
|
121,537,000
|
41,090,000
|
| Repayment of mortgages, loans payable and other obligations |
|
(25,183,000)
|
(277,287,000)
|
| Acquisition of noncontrolling interests |
|
(5,017,000)
|
|
| Issuance of redeemable noncontrolling interests, net |
|
45,000,000
|
10,000,000
|
| Payment of financing costs |
|
(1,363,000)
|
(255,000)
|
| Distributions to noncontrolling interests |
|
(99,000)
|
|
| Payment of dividends and distributions |
|
(24,732,000)
|
(22,830,000)
|
| Net cash used in financing activities |
|
(91,857,000)
|
(208,282,000)
|
| Net decrease in cash and cash equivalents |
|
(16,932,000)
|
(7,835,000)
|
| Cash, cash equivalents and restricted cash, beginning of period |
[1] |
49,554,000
|
67,972,000
|
| Cash, cash equivalents and restricted cash, end of period |
[2] |
$ 32,622,000
|
$ 60,137,000
|
|
|