Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 13

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 13
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ated Statements of Cash Flows

 (Unaudited)

Nine Months Ended September 30, 20252024 (In thousands)OPERATING ACTIVITIESNet income$291,033 $236,132 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization270,464 255,481 Gain on sale of real estate(77,672)(52,280)Income from partnerships(1,687)(1,825)New market tax credit transaction income(14,176)— Straight-line rent(21,529)(16,356)Share-based compensation expense10,913 11,153 Other, net(1,280)(1,603)Changes in assets and liabilities, net of effects of acquisitions and dispositions:Decrease in accounts receivable, net7,246 11,044 Increase in prepaid expenses and other assets(6,903)(3,600)Increase in accounts payable and accrued expenses23,566 22,783 Decrease in security deposits and other liabilities(2,444)(5,961)Net cash provided by operating activities477,531 454,968 INVESTING ACTIVITIESAcquisition of real estate(400,381)(273,927)Capital expenditures - development and redevelopment(115,472)(104,350)Capital expenditures - other(81,733)(78,055)Proceeds from sale of real estate141,151 96,324 Investment in partnerships(227)— Distribution from partnerships in excess of earnings2,533 3,603 Leasing costs(19,380)(19,047)Net cash used in investing activities(473,509)(375,452)FINANCING ACTIVITIESNet borrowings under revolving credit facility102,400 — Issuance of senior notes, net of costs— 471,507 Repayment of senior notes— (600,000)Issuance of notes and mortgages payable, net of costs 145,044 (902)Repayment of mortgages, finance leases and notes payable(3,710)(2,662)Purchase of capped calls— (19,448)Issuance of common shares, net of costs54,481 222,383 Dividends paid to common and preferred shareholders(288,990)(276,548)Shares withheld for employee taxes(4,856)(4,972)Contributions from noncontrolling interests1,413 725