Company: FRT-PC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000034903-25-000052
Chunk: 13

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 13
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8,878 $159,822 83,590,543 $841 $4,005,249 $(1,177,336)$7,042 $75,195 $3,070,813 

The accompanying notes are an integral part of these consolidated statements.

6

Table of Contents

Federal Realty Investment Trust

Consolidated Statements of Cash Flows

 (Unaudited)

Six Months Ended June 30, 20252024 (In thousands)OPERATING ACTIVITIESNet income$226,534 $172,671 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization176,187 168,453 Gain on sale of real estate(77,672)(52,280)Income from partnerships(1,082)(937)New market tax credit transaction income(14,176)— Straight-line rent(13,844)(10,686)Share-based compensation expense7,464 7,639 Other, net(1,163)(990)Changes in assets and liabilities, net of effects of acquisitions and dispositions:Decrease in accounts receivable, net14,709 16,294 Decrease in prepaid expenses and other assets15,333 15,084 (Decrease) increase in accounts payable and accrued expenses(3,805)1,383 Increase (decrease) in security deposits and other liabilities1,252 (5,748)Net cash provided by operating activities329,737 310,883 INVESTING ACTIVITIESAcquisition of real estate(120,413)(213,875)Capital expenditures - development and redevelopment(69,350)(68,616)Capital expenditures - other(55,257)(55,489)Proceeds from sale of real estate141,151 96,324 Distribution from partnerships in excess of earnings1,094 2,142 Leasing costs(13,547)(13,113)Net cash used in investing activities(116,322)(252,627)FINANCING ACTIVITIESNet borrowings under revolving credit facility17,600 81,800 Issuance of senior notes, net of costs— 471,507 Repayment of senior notes— (600,000)Costs to extend and issue notes and mortgages payable (4,818)(902)Repayment of mortgages, finance leases and notes payable(2,840)(1,640)Purchase of capped calls