CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating activities: | | |
Net income | $31,136 | $41,740 |
Net income | 31,136 | 41,740 |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 108,544 | 113,699 |
Debt premium and discount amortization | -5,048 | -5,467 |
Deferred financing cost amortization | 2,048 | 2,522 |
Above- and below-market lease intangible amortization | -13,530 | -11,580 |
Provisions of impairment | 807 | 0 |
Gain on disposition of operating properties, disposition of investments in unconsolidated joint ventures and acquisition of joint venture interest | 0 | -16,624 |
Equity based compensation | 12,951 | 2,117 |
Other | 49 | -53 |
Gain on extinguishment of debt, net | -297 | -3,831 |
Changes in operating assets and liabilities: | | |
Restricted cash | -6,845 | 8,055 |
Receivables | 3,675 | 9,327 |
Deferred charges and prepaid expenses | -2,608 | -4,598 |
Other assets | -268 | 69 |
Accounts payable, accrued expenses and other liabilities | -17,677 | -48,800 |
Net cash provided by operating activities | 112,937 | 86,576 |
Investing activities: | | |
Improvements to and investments in real estate assets | -40,411 | -40,475 |
Proceeds from sales of real estate assets | 9,918 | 2,778 |
Distributions from unconsolidated joint venture | 0 | 132 |
Change in restricted cash attributable to investing activities | -1,678 | 1,096 |
Purchase of marketable securities | -4,200 | -8,156 |
Proceeds from sale of marketable securities | 4,499 | 4,851 |
Net cash used in investing activities | -31,872 | -39,774 |
Financing activities: | | |
Repayment of debt obligations and financing liabilities | -158,568 | -698,011 |
Repayment of borrowings under unsecured revolving credit facility | -682,475 | -637,047 |
Proceeds from borrowings under unsecured revolving credit facility | 163,000 | 689,874 |
Proceeds from unsecured term loan and notes | 695,156 | 600,000 |
Deferred financing costs | -1,899 | -2,953 |
Distributions to common stockholders | -67,079 | -29,170 |
Distributions to non-controlling interests and other | -21,611 | -27,714 |
Net cash used in financing activities | -73,476 | -105,021 |
Change in cash and cash equivalents | 7,589 | -58,219 |
Cash and cash equivalents at beginning of period | 60,595 | 113,915 |
Cash and cash equivalents at end of period | 68,184 | 55,696 |
Supplemental non-cash investing and/or financing activities: | | |
Net carrying value of properties distributed to non-controlling owners | 0 | 178,969 |
Brixmor Operating Partnership LP [Member] | | |
Operating activities: | | |
Net income | 31,136 | 41,740 |
Adjustments to reconcile net income to net cash provided by operating activities: | | |
Depreciation and amortization | 108,544 | 113,699 |
Debt premium and discount amortization | -5,048 | -5,467 |
Deferred financing cost amortization | 2,048 | 2,522 |
Above- and below-market lease intangible amortization | -13,530 | -11,580 |
Provisions of impairment | 807 | 0 |
Gain on disposition of operating properties, disposition of investments in unconsolidated joint ventures and acquisition of joint venture interest | 0 | -16,624 |
Equity based compensation | 12,951 | 2,117 |
Other | 49 | -53 |
Gain on extinguishment of debt, net | -297 | -3,831 |
Changes in operating assets and liabilities: | | |
Restricted cash | -6,845 | 8,055 |
Receivables | 3,675 | 9,327 |
Deferred charges and prepaid expenses | -2,608 | -4,598 |
Other assets | -268 | 69 |
Accounts payable, accrued expenses and other liabilities | -17,670 | -48,753 |
Net cash provided by operating activities | 112,944 | 86,623 |
Investing activities: | | |
Improvements to and investments in real estate assets | -40,411 | -40,475 |
Proceeds from sales of real estate assets | 9,918 | 2,778 |
Distributions from unconsolidated joint venture | 0 | 132 |
Change in restricted cash attributable to investing activities | -1,675 | 1,096 |
Purchase of marketable securities | -4,200 | -8,153 |
Proceeds from sale of marketable securities | 4,499 | 4,851 |
Net cash used in investing activities | -31,869 | -39,771 |
Financing activities: | | |
Repayment of debt obligations and financing liabilities | -158,568 | -698,011 |
Repayment of borrowings under unsecured revolving credit facility | -682,475 | -637,047 |
Proceeds from borrowings under unsecured revolving credit facility | 163,000 | 689,874 |
Proceeds from unsecured term loan and notes | 695,156 | 600,000 |
Deferred financing costs | -1,899 | -2,953 |
Partners distributions | -68,722 | -56,169 |
Distributions to non-controlling interests and other | -19,870 | -323 |
Net cash used in financing activities | -73,378 | -104,629 |
Change in cash and cash equivalents | 7,697 | -57,777 |
Cash and cash equivalents at beginning of period | 60,450 | 113,006 |
Cash and cash equivalents at end of period | 68,147 | 55,229 |
Supplemental non-cash investing and/or financing activities: | | |
Net carrying value of properties distributed to non-controlling owners | $0 | $178,969 |