v3.26.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
OPERATING ACTIVITIES    
Net income $ 318,608 $ 291,033
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 300,100 270,464
Gain on sale of real estate (113,801) (77,672)
Income from partnerships (298) (1,687)
New market tax credit transaction income 0 (14,176)
Straight-line rent (22,517) (21,529)
Share-based compensation expense 11,691 10,913
Other, net (2,649) (1,280)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Decrease in accounts receivable, net 569 7,246
Increase in prepaid expenses and other assets (10,230) (6,903)
Increase in accounts payable and accrued expenses 25,146 23,566
Increase (decrease) in security deposits and other liabilities 403 (2,444)
Net cash provided by operating activities 507,022 477,531
INVESTING ACTIVITIES    
Acquisition of real estate (85,397) (400,381)
Capital expenditures - development and redevelopment (128,091) (115,472)
Capital expenditures - other (89,867) (81,733)
Proceeds from sale of real estate 222,534 141,151
Investment in partnerships (1,648) (227)
Distribution from partnerships in excess of earnings 3,605 2,533
Leasing costs (15,369) (19,380)
Net cash used in investing activities (94,233) (473,509)
FINANCING ACTIVITIES    
Net (repayments) borrowings under revolving credit facility, net of costs (316,841) 102,400
Issuance of senior notes, net of costs 450,960 0
Repayment of senior notes (429,200) 0
Issuance and extension of notes payable, net of costs 249,954 145,044
Repayment of mortgages, finance leases and notes payable (25,582) (3,710)
Purchase of capped calls (21,712) 0
Issuance of common shares, net of costs 60,435 54,481
Common shares repurchased (59,248) 0
Dividends paid to common and preferred shareholders (298,181) (288,990)
Common shares withheld for employee taxes (5,310) (4,856)
Contributions from noncontrolling interests 6,988 1,413
Distributions to and redemptions of noncontrolling interests (10,086) (17,563)
Net cash used in financing activities (397,823) (11,781)
Increase (decrease) in cash, cash equivalents and restricted cash 14,966 (7,759)
Cash, cash equivalents, and restricted cash at beginning of year 117,706 135,443
Cash, cash equivalents, and restricted cash at end of period 132,672 127,684
Federal Realty OP LP    
OPERATING ACTIVITIES    
Net income 318,608 291,033
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 300,100 270,464
Gain on sale of real estate (113,801) (77,672)
Income from partnerships (298) (1,687)
New market tax credit transaction income 0 (14,176)
Straight-line rent (22,517) (21,529)
Share-based compensation expense 11,691 10,913
Other, net (2,649) (1,280)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Decrease in accounts receivable, net 569 7,246
Increase in prepaid expenses and other assets (10,230) (6,903)
Increase in accounts payable and accrued expenses 25,146 23,566
Increase (decrease) in security deposits and other liabilities 403 (2,444)
Net cash provided by operating activities 507,022 477,531
INVESTING ACTIVITIES    
Acquisition of real estate (85,397) (400,381)
Capital expenditures - development and redevelopment (128,091) (115,472)
Capital expenditures - other (89,867) (81,733)
Proceeds from sale of real estate 222,534 141,151
Investment in partnerships (1,648) (227)
Distribution from partnerships in excess of earnings 3,605 2,533
Leasing costs (15,369) (19,380)
Net cash used in investing activities (94,233) (473,509)
FINANCING ACTIVITIES    
Net (repayments) borrowings under revolving credit facility, net of costs (316,841) 102,400
Issuance of senior notes, net of costs 450,960 0
Repayment of senior notes (429,200) 0
Issuance and extension of notes payable, net of costs 249,954 145,044
Repayment of mortgages, finance leases and notes payable (25,582) (3,710)
Purchase of capped calls (21,712) 0
Issuance of common units, net of costs 60,435 54,481
Common units repurchased (59,248) 0
Dividends paid to common and preferred unit holders (298,181) (288,990)
Common shares withheld for employee taxes (5,310) (4,856)
Contributions from noncontrolling interests 6,988 1,413
Distributions to and redemptions of noncontrolling interests (10,086) (17,563)
Net cash used in financing activities (397,823) (11,781)
Increase (decrease) in cash, cash equivalents and restricted cash 14,966 (7,759)
Cash, cash equivalents, and restricted cash at beginning of year 117,706 135,443
Cash, cash equivalents, and restricted cash at end of period $ 132,672 $ 127,684