Company: LXP
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001444838-25-000023
Chunk: 92

Company: LXP Industrial Trust
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 92
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59

LXP INDUSTRIAL TRUST AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS($000)Years ended December 31, 202420232022Cash flows from operating activities:Net income$42,835 $35,923 $116,243 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization196,629 186,540 183,419 Gains on sales of properties(39,848)(33,010)(59,094)Gain on change in control of a subsidiary(209)— — Change in allowance for credit loss(61)(32)93 Selling profit from sales-type leases— — (47,059)Debt satisfaction losses, net— 132 119 Impairment charges— 16,490 3,037 Straight-line rents(7,097)(9,471)(11,363)Amortization of right of use assets4,166 4,136 3,980 Other non-cash expense, net7,521 5,900 6,072 Equity in (earnings) losses of non-consolidated entities3,179 (1,366)(16,006)Distributions of accumulated earnings from non-consolidated entities1,646 4,614 17,024 Changes in assets and liabilities:Change in accounts payable and other liabilities2,914 4,407 (1,574)Change in rent receivable and prepaid rent, net5,639 (488)623 Change in accrued interest payable(862)2,199 700 Other adjustments, net(5,265)(6,528)(1,945)Net cash provided by operating activities211,187 209,446 194,269 Cash flows from investing activities: Acquisition of real estate, including intangible assets(161,979)(15,018)(132,026)Investment in real estate under construction(105,711)(120,793)(276,706)Capital expenditures(17,782)(17,937)(32,562)Net proceeds from sale of properties177,473 97,758 194,472 Realization of net investment in a sales-type lease65,828 — — Principal payments on loans receivable— 1,462 27 Investments in non-consolidated entities, net(1,312