COUSINS PROPERTIES INC
For the period ended Mar 31, 2024. Filed Apr 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 25, 2024
CUZ$29.57-1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited; in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $13,451 | $22,356 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Loss (gain) on investment property transactions | (101) | 2 |
| Depreciation and amortization | 86,230 | 75,770 |
| Amortization of deferred financing costs and premium on notes payable | 1,039 | 1,021 |
| Equity-classified stock-based compensation expense, net of forfeitures | 4,338 | 3,559 |
| Effect of non-cash adjustments to rental revenues | (15,984) | (11,193) |
| Income from unconsolidated joint ventures | (348) | (673) |
| Operating distributions from unconsolidated joint ventures | 787 | 1,299 |
| Changes in other operating assets and liabilities: | ||
| Change in receivables and other assets, net | (5,614) | (8,407) |
| Change in operating liabilities, net | (55,506) | (57,240) |
| Net cash provided by operating activities | 28,292 | 26,494 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Property acquisition, development, and tenant asset expenditures | (72,317) | (69,863) |
| Contributions to unconsolidated joint ventures | (11,634) | (23,984) |
| Net cash used in investing activities | (83,951) | (93,847) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from credit facility | 171,200 | 165,000 |
| Repayment of credit facility | (64,100) | (49,300) |
| Repayment of mortgages | (2,113) | (2,041) |
| Payment of deferred financing costs | — | (32) |
| Repurchase of shares withheld for taxes on restricted stock vestings | (1,111) | — |
| Common dividends paid | (48,576) | (48,407) |
| Contributions from noncontrolling interests | — | 738 |
| Distributions to noncontrolling interests | (236) | (165) |
| Net cash provided by financing activities | 55,064 | 65,793 |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (595) | (1,560) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 6,047 | 5,145 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $5,452 | $3,585 |
See accompanying notes.
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