v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - KRG Trust - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 24,264 $ 14,436
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 99,875 101,309
(Gain) loss on sales of operating properties, net (91) 236
Gain on sale of unconsolidated property, net 0 (2,325)
Straight-line rent (2,581) (3,126)
Compensation expense for equity awards 2,341 2,488
Amortization of debt fair value adjustments (2,519) (3,243)
Amortization of in-place lease liabilities (3,538) (2,266)
Changes in assets and liabilities:    
Tenant receivables 3,181 (1,369)
Deferred costs and other assets (10,972) (17,045)
Accounts payable, accrued expenses, deferred revenue and other liabilities (35,900) (35,514)
Net cash provided by operating activities 74,060 53,581
Cash flows from investing activities:    
Acquisitions of interests in properties (78,254) 0
Capital expenditures (34,363) (28,200)
Net proceeds from sales of land 0 1,759
Investment in short-term deposits 0 (265,000)
Proceeds from short-term deposits 350,000 0
Change in construction payables (7,756) 485
Distributions from unconsolidated joint ventures 162 1,618
Capital contributions to unconsolidated joint ventures (1,952) 0
Net cash provided by (used in) investing activities 227,837 (289,338)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net 15 22
Repurchases of common shares upon the vesting of restricted shares (1,146) (867)
Debt and equity issuance costs (66) (3,625)
Loan proceeds 103,000 385,345
Loan payments (420,300) (41,269)
Distributions paid – common shareholders (59,309) (54,862)
Distributions paid – redeemable noncontrolling interests (2,449) (833)
Distributions to noncontrolling interests (62) (620)
Net cash (used in) provided by financing activities (380,317) 283,291
Net change in cash, cash equivalents and restricted cash (78,420) 47,534
Cash, cash equivalents and restricted cash, beginning of period 133,552 41,430
Cash, cash equivalents and restricted cash, end of period $ 55,132 $ 88,964