Urban edge properties (UE)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

51,288

3,538

56,700

28,067

27,892

7,251

26,899

59,774

23,039

-15,873

19,156

14,920

54,735

20,266

20,505

36,071

19,788

16,167

20,045

17,153

-12,017

16,208

13,646

18,024

17,916

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

23,271

28,140

21,414

22,484

21,747

26,038

21,980

30,615

21,430

21,935

21,136

23,280

16,160

14,496

14,693

13,816

14,173

15,654

13,776

14,863

14,006

14,453

13,148

13,698

13,598

Income from acquired leasehold interest

-

-

-

-

-

-

-

-

-

0

0

0

39,215

0

0

0

0

-

-

-

-

-

-

-

-

Casualty and impairment loss

0

3,668

-13,583

18,695

3,958

5,574

0

0

0

0

2,170

303

3,164

0

0

0

0

-

-

-

-

-

-

-

-

Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal

39,775

413

39,716

11,550

16,953

0

2,185

50,440

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

0

0

0

2,524

-34,062

0

0

-1,274

0

0

0

0

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

706

686

731

719

720

720

719

718

722

701

724

587

864

724

724

723

659

659

659

736

684

444

436

390

390

Amortization of below market leases, net

-2,249

-2,007

-2,131

-9,442

-2,360

-4,208

-19,312

-7,822

-2,633

-2,660

-2,735

-2,071

-2,036

-1,869

-2,158

-1,874

-1,875

-1,837

-2,019

-2,065

-1,986

-14,585

1,941

1,939

1,943

Noncash lease expense

1,806

1,876

1,881

2,434

2,014

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-lining of rent

674

-901

-83

-59

22

354

563

-116

-66

168

0

-376

-144

-324

-128

12

213

-401

-117

102

83

57

702

459

341

Share-based compensation expense

3,248

3,280

3,310

3,295

3,664

3,247

2,252

2,222

2,020

1,889

1,889

1,875

1,484

1,353

1,359

1,424

1,297

1,113

879

828

7,441

892

757

952

1,277

Non-cash separation costs paid by Vornado

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

17,403

0

0

0

0

Credit losses related to operating lease receivables

1,424

1,385

0

-485

485

1,550

79

1,273

1,236

1,771

575

906

193

220

149

494

351

387

427

389

323

278

27

358

369

Other non-cash adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-526

-462

-382

Change in operating assets and liabilities:
Tenant and other receivables

-1,134

-4,290

-6,371

-6,937

10,864

515

5,729

1,763

5,320

4,144

4,611

2,246

2,748

-743

2,246

-684

-741

926

-5,151

2,845

1,384

-11,169

1,094

469

3,692

Deferred leasing costs

636

1,064

1,365

673

1,201

1,234

1,618

885

938

554

1,509

1,378

669

1,191

2,624

0

0

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

9,786

954

2,282

188

-93

-3,226

4,266

-1,612

-1,295

-1,641

7,669

-2,932

1,336

-2,095

3,379

-1,354

-71

-2,702

5,458

-2,353

268

-7,363

4,994

2,465

-863

Lease liabilities

-1,578

-

-

-

-1,708

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

-7,383

4,588

9,192

-14,650

1,962

7,623

-6,830

7,275

-4,392

6,504

2,419

6,167

3,786

2,251

5,422

-3,938

-2,852

3,762

5,632

-1,909

3,815

-6,597

8,499

-3,926

-2,905

Other liabilities

-

-

-

-

-

-

-

-

-

-

-143

421

1,426

-

-108

1,148

306

3,084

-1,829

2,490

2,647

-109

-43

939

0

Net cash provided by operating activities

20,796

40,807

38,756

47,410

29,427

48,918

11,426

42,695

34,001

43,400

31,200

46,072

37,226

38,066

32,465

34,272

32,446

38,226

37,380

31,891

30,581

25,944

28,265

25,565

25,914

CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements

6,538

-

-

-

26,696

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate

92,132

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate development and capital improvements

-

-

-

-

-

28,062

34,424

27,007

29,272

33,403

19,947

24,843

11,151

24,233

18,123

12,702

14,843

11,647

9,386

11,555

3,702

20,529

11,366

2,976

4,638

Acquisition of real estate

-

-

-

-

-

0

0

966

3,965

0

0

174,841

36,552

7,267

2,000

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of operating properties

54,402

5,070

77,619

15,619

18,202

0

3,290

54,303

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Insurance proceeds

-

-

-

-

-

0

300

0

1,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in cash held in escrow and restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-961

-2,142

2,968

-

197

-2,431

873

Net cash used in investing activities

-44,268

-62,576

72,465

-3,916

-8,494

-28,062

-30,834

26,330

-32,237

-33,403

-19,732

-194,894

-47,703

-31,500

-20,123

7,236

-14,843

-38,782

-8,425

-12,538

-6,670

-21,890

-17,640

-545

-5,511

CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments

2,076

1,680

1,848

915

1,144

1,135

1,174

1,135

844

41,081

4,714

4,417

79,428

4,450

4,309

25,568

4,131

1,983

3,967

3,950

34,754

3,600

23,305

3,622

11,954

Contributions from Vornado

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,730

0

0

231,462

-167,920

-11,727

21,337

9,524

Dividends to common shareholders

26,647

26,674

26,646

26,453

26,390

25,122

25,085

25,040

24,997

24,973

24,973

23,566

21,869

21,850

19,801

19,797

19,792

19,775

19,775

19,765

19,852

0

0

0

0

Distributions to redeemable noncontrolling interests

1,314

1,267

1,298

1,553

1,576

2,815

2,735

2,780

2,786

2,766

2,765

2,170

1,770

1,360

1,237

1,237

1,237

1,236

1,230

1,240

1,212

0

0

0

0

Taxes withheld for vested restricted shares

328

0

0

41

592

0

0

22

363

0

0

27

260

0

5

0

33

0

0

0

0

-

-

-

-

Proceeds from Long-term Lines of Credit

250,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common shares

38,656

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

1,841

7,785

0

3,567

0

0

0

0

2,000

0

0

3,198

-2,290

2,140

150

0

Proceeds related to the issuance of common shares

0

186

-61

279

35

162

-9

348

-24

-

-

-

-

3,929

4,694

326

0

0

0

-54

54

-

-

-

0

Payments related to the issuance of common shares

-

-

-

-

-

-

-

-

-

-

-

-

29

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings

-

-

-

-

-

-

-

-

-

710,200

0

125,500

100,000

0

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

180,979

-29,441

-38,474

-28,683

-29,667

-28,910

-29,003

-28,629

-29,014

102,086

114,461

288,865

-6,923

-23,731

-20,658

-46,276

-25,193

-28,724

-24,972

-25,009

172,500

-133,502

116,282

-25,109

-21,478

Net decrease in cash and cash equivalents and restricted cash

157,507

-51,210

72,747

14,811

-8,734

-8,054

-48,411

40,396

-27,250

112,083

125,929

140,043

-17,400

-17,165

-8,316

-4,768

-7,590

-29,280

3,983

-5,656

196,411

-129,448

126,907

-89

-1,075

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest, net of amounts capitalized of $125 and $565, respectively

16,291

15,975

16,298

16,356

16,122

16,150

16,209

16,087

17,253

14,573

14,516

12,932

13,119

12,634

12,730

12,903

12,870

12,902

12,525

13,469

13,918

14,134

13,456

12,743

12,800

Cash payments for income taxes

6

12

18

1,564

7

0

120

19

618

0

0

1,215

22

19

9

1,232

17

0

54

1,837

16

3

3

1,177

159

Cash payments for lease liabilities

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH INVESTING AND FINANCING ACTIVITIES
Adjustments to carry redeemable NCI at redemption value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Accrued capital expenditures included in accounts payable and accrued expenses

2,013

-8,388

-2,019

-96

15,559

1,561

-3,474

4,500

23,074

-575

1,882

1,074

12,270

152

2,247

4,366

5,727

3,846

1,911

-511

3,453

1,234

-1,301

1,151

508

Write-off of fully depreciated and impaired assets

5,225

12,574

5,524

30,995

7,106

13,900

489

9,229

689

2,376

0

910

0

3,627

275

404

279

6,093

1,154

2,408

933

476

64

845

1,227

Acquisition of real estate through the assumption of debt

72,473

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued common share repurchase

4,145

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities arising from obtaining right-of-use assets

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage debt forgiven in foreclosure

-

-

-

-

-

0

0

0

11,537

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate through issuance of OP units

-

-

-

-

-

-

-

-

-

0

0

122,284

48,800

0

0

0

0

-

-

-

-

-

-

-

-

Acquisition of real estate through assumption of debt

-

-

-

-

-

-

-

-

-

0

0

33,167

36,492

0

0

0

0

-

-

-

-

-

-

-

-

Urban Edge Properties LP
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

51,288

3,538

56,700

28,067

27,892

7,251

26,899

59,774

23,039

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

23,271

28,140

21,414

22,484

21,747

26,038

21,980

30,615

21,430

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Casualty and impairment loss

0

3,668

-13,583

18,695

3,958

5,574

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal

39,775

413

39,716

11,550

16,953

0

2,185

50,440

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

0

0

0

2,524

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

706

686

731

719

720

720

719

718

722

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of below market leases, net

-2,249

-2,007

-2,131

-9,442

-2,360

-4,208

-19,312

-7,822

-2,633

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash lease expense

1,806

1,876

1,881

2,434

2,014

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-lining of rent

674

-901

-83

-59

22

354

563

-116

-66

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation expense

3,248

3,280

3,310

3,295

3,664

3,247

2,252

2,222

2,020

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Credit losses related to operating lease receivables

1,424

1,385

0

-485

485

1,550

79

1,273

1,236

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tenant and other receivables

-1,134

-4,290

-6,371

-6,937

10,864

515

5,729

1,763

5,320

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred leasing costs

636

1,064

1,365

673

1,201

1,234

1,618

885

938

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

9,786

954

2,282

188

-93

-3,226

4,266

-1,612

-1,295

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities

-1,578

-

-

-

-1,708

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

-7,383

4,588

9,192

-14,650

1,962

7,623

-6,830

7,275

-4,392

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

20,796

40,807

38,756

47,410

29,427

48,918

11,426

42,695

34,001

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate development and capital improvements

6,538

-

-

-

26,696

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate

92,132

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate development and capital improvements

-

-

-

-

-

28,062

34,424

27,007

29,272

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate

-

-

-

-

-

0

0

966

3,965

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of operating properties

54,402

5,070

77,619

15,619

18,202

0

3,290

54,303

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Insurance proceeds

-

-

-

-

-

0

300

0

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-44,268

-62,576

72,465

-3,916

-8,494

-28,062

-30,834

26,330

-32,237

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt repayments

2,076

1,680

1,848

915

1,144

1,135

1,174

1,135

844

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to partners

27,961

27,941

27,944

28,006

27,966

27,937

27,820

27,820

27,783

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes withheld for vested restricted shares

328

0

0

41

592

0

0

22

363

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Long-term Lines of Credit

250,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common shares

38,656

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds related to the issuance of common shares

0

186

-61

279

35

162

-9

348

-24

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

180,979

-29,441

-38,474

-28,683

-29,667

-28,910

-29,003

-28,629

-29,014

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents and restricted cash

157,507

-51,210

72,747

14,811

-8,734

-8,054

-48,411

40,396

-27,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payments for interest, net of amounts capitalized of $125 and $565, respectively

16,291

15,975

16,298

16,356

16,122

16,150

16,209

16,087

17,253

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payments for income taxes

6

12

18

1,564

7

0

120

19

618

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payments for lease liabilities

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued capital expenditures included in accounts payable and accrued expenses

2,013

-8,388

-2,019

-96

15,559

1,561

-3,474

4,500

23,074

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-off of fully depreciated and impaired assets

5,225

12,574

5,524

30,995

7,106

13,900

489

9,229

689

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate through the assumption of debt

72,473

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued common share repurchase

4,145

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities arising from obtaining right-of-use assets

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage debt forgiven in foreclosure

-

-

-

-

-

0

0

0

11,537

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-