AMERICAN ASSETS TRUST, INC. AAT Cash Flow

American assets trust, inc. (AAT)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
OPERATING ACTIVITIES
Net income
15,484	16,485	16,519	11,941	15,243	9,209	14,271	4,413	-691	9,731	12,505	7,588	10,308	12,408	11,858	10,650	10,721	11,226	19,026	12,284	11,379	10,046	9,090	5,351	6,658	6,907	6,258	4,564	4,865	41,821	4,285	2,624	2,871	655	4,618	455	13,596
Results from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,999	319	227	107	553	5,892	-1,123	331
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,822	3,966	2,397	2,764	102	310	-6	13,265
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles
-3,762	-3,333	-6,214	3,673	-1,111	-1,310	-1,943	2,049	47	-314	-836	-390	-1,007	-340	-510	-823	-964	-1,381	-1,597	-1,256	-1,353	-263	-1,554	-1,261	-1,545	-1,404	-1,719	-711	-1,163	-2,247	-1,649	-1,520	-1,551	-2,096	-1,035	-827	223
Depreciation and amortization
27,462	26,472	26,568	22,582	20,583	21,060	19,886	32,868	33,279	19,918	21,192	24,182	17,986	18,160	17,992	17,714	17,453	17,238	15,761	15,286	15,107	15,666	16,352	18,209	16,341	16,161	16,648	16,953	17,013	16,576	16,094	14,329	14,854	14,020	15,827	13,934	12,155
Amortization of debt issuance costs and debt fair value adjustments
374	371	372	356	368	365	359	360	446	433	445	464	1,716	1,119	1,116	1,113	1,125	1,054	1,054	1,061	1,045	1,029	1,015	1,016	1,015	983	983	983	983	983	970	996	962	959	1,029	1,030	865
Early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-25,867
Loan transfer and consent fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,827	0	-18,038	9,019
Gain on acquisition of controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	46,371
Stock-based compensation expense
1,250	1,118	1,130	1,131	1,098	859	726	727	727	2,818	639	639	639	559	600	637	618	740	413	834	890	1,095	1,045	1,007	519	726	726	717	676	724	722	707	699	713	712	699	491
Settlement of forward interest rate swap agreement
-	-	-	-	-	-	-	-	-	0	0	237	10,430	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease termination income
0	0	0	0	4,518	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noncash interest expense
333	2,276	-333	-959	320	2,238	-320	-319	-320	1,908	-319	-330	-145	-58	-58	-58	-57	-58	-57	-58	-58	-39	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
3,570	-4,769	-2,108	1,058	-678	-379	1,491	536	-2,031	764	-1,183	314	-796	1,937	-1,996	-575	1,403	-1,953	805	449	-180	-744	471	6	362	-44	-1,285	-721	1,202	-1,424	-253	-329	-416	-892	-658	-181	-935
Changes in operating assets and liabilities
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	664	630	-2,471	-	1,341	855	-943	-2,636	765	-468	1,141	-794	731	318	500	-852	608	649	595	-945	542	1,697	-1,391
Change in accounts receivable
-3,632	1,803	-909	643	-466	1,337	1,219	-1,643	-577	1,327	2,463	-948	-1,726	783	1,792	-216	-12	-586	2,516	-45	-874	-474	2,574	-1,357	-1,022	-974	-54	-125	1,198	399	1,166	-115	-1,513	308	1,753	100	1,409
Change in other assets
-616	2,398	1,327	-1,260	-45	215	767	-1,092	337	-48	1,015	-1,506	1,038	959	64	-739	698	-217	357	-1,040	1,143	-61	-209	-15	392	20	30	-178	216	-1,518	1,690	-1,619	1,304	1,450	692	-1,558	1,456
Change in accounts payable and accrued expenses
4,435	-10,505	13,008	-3,697	7,150	-11,589	6,543	-3,685	5,434	-9,667	11,430	35	5,834	-9,612	8,102	-1,837	4,718	-12,272	10,023	-2,977	4,145	-5,917	6,285	-3,692	4,705	-6,904	5,409	-3,294	5,956	-4,830	4,041	-1,418	408	-3,561	7,032	-819	-524
Change in security deposits payable
30	462	-53	-115	-1,265	96	36	29	2,113	-166	-43	584	81	16	27	7	108	175	-61	26	353	245	-47	102	58	153	-84	27	211	1,056	-902	-119	-85	-43	1,097	-1,103	131
Change in other liabilities and deferred credits
-257	398	-1,257	-1,140	-1,586	397	515	-296	666	-192	-34	217	279	558	575	986	156	-314	-52	182	148	-1,563	861	-225	1,115	-170	18	56	247	-6	-31	432	-209	-	-	-	-
Net cash provided by operating activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,473	20,000	17,218	17,872	9,125	22,643	12,850	14,582
Net cash provided by operating activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	78	52	-376	628	4,416	473	587	688
Net cash provided by operating activities
45,361	31,704	51,943	33,338	36,831	17,594	36,596	38,345	43,972	20,198	42,684	35,366	47,605	17,954	39,178	29,289	34,260	20,417	32,370	25,163	32,510	24,214	31,063	22,341	27,993	18,244	28,817	20,001	25,672	20,551	20,052	16,842	18,500	13,541	23,116	13,437	15,270
INVESTING ACTIVITIES
Acquisition of real estate, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,900	220,172	0	32,918	4,249	98,432	0	128,877
Capital expenditures
20,531	22,778	17,711	26,906	20,932	22,745	11,313	10,215	10,138	12,739	14,874	12,630	7,253	14,050	13,731	14,717	17,135	19,018	25,926	45,105	44,125	49,797	33,616	30,961	30,300	22,172	12,299	11,302	9,902	8,954	13,677	5,961	5,990	4,906	3,415	1,494	962
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	131	-474	143	-	12,556	204	201	1,796	303	666	303	-148	128	85	-518	-1,491	-1,561	356	139	1,416	142	108	1,403
Cash acquired from acquisition of controlling interests in real estate joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1	1	15,222
Leasing commissions
3,394	2,375	6,269	1,118	1,505	4,809	2,070	1,830	1,227	1,185	1,648	1,192	902	1,764	422	769	617	1,219	962	1,437	843	2,293	1,177	632	996	1,055	633	1,006	338	781	1,363	845	467	672	902	664	206
Deposit on property acquisition
-	-	-	-	-	-	-	-	-	-	-	-4,000	5,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	33,103
Maturity of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,060	1,711	1,613	-	-	-	-
Net cash used in investing activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-27,144	-211,400	-5,451	-37,901	-9,752	-9,500	-92,155	-149,329
Net cash provided by investing activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87,804	0	-192	-11	-1,031	30,286	12	-220
Net cash used in investing activities
-23,925	-25,153	-23,980	-527,613	-22,437	-27,554	-13,383	-12,045	-11,365	-13,924	-61,602	-241,883	-13,155	-16,014	-14,284	-15,012	-17,895	-7,276	-25,185	-48,746	-45,169	-53,886	-35,096	-32,259	-31,599	-23,079	-13,060	-12,393	-9,722	60,660	-211,400	-5,643	-37,912	-10,783	20,786	-92,143	-149,549
FINANCING ACTIVITIES
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1,400	-	-	-	-	-	-	-	-
Issuance of secured notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	111,000	0	0	21,900	-	-	-	-
Repayment of secured notes payable
51,003	294	281	278	19,909	22,281	367	360	74,116	358	342	35,644	130,795	23,462	439	28,132	84,941	434	412	133,405	101,729	141,107	385	379	405	92,671	910	896	943	31,114	1,197	1,154	1,161	1,144	1,103	1,087	260,916
Proceeds from unsecured term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	50,000	100,000	0	0	0	0	0	0	0	100,000	-	-	-	-	-	-	-	-	-	-	-	-
Defeasance costs on repayment of secured notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,690	0	-48,690	24,345
Proceeds from unsecured line of credit
0	0	0	35,000	24,000	49,000	0	0	35,000	0	43,000	130,000	0	24,000	0	0	10,000	5,000	5,000	35,000	20,000	0	0	0	0	93,000	0	0	0	-	-	-	-	-	-	-	-
Repayment of unsecured line of credit
-	-	-	-	-	-	-	-	-	0	43,000	130,000	20,000	4,000	0	20,000	20,000	0	10,000	25,000	0	0	0	0	93,000	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of unsecured notes payable
-	-	-	-	-	-	-	-	-	0	100,000	100,000	250,000	0	0	0	0	0	0	100,000	100,000	150,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loan transfer and consent fees paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-16,700	8,350
Repayment of line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	0	0	0	38,013
Repayment of notes payable to affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	19,279
Debt issuance costs
0	12	667	9	415	40	31	0	2,656	-156	276	469	1,812	-52	164	440	1,503	607	321	1,913	40	184	0	0	1,957	0	0	0	0	423	8	0	924	0	0	454	2,507
Proceeds from issuance of common stock, net
-119	1,420	10,920	495,980	7,034	0	0	-60	-176	-202	0	0	30,075	-25	9,665	0	0	-54	18,829	43,735	10,272	-41	34,239	22,983	46,926	558	-132	24,922	0	-	-	-	-	0	0	0	596,541
Proceeds from private placement of common units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,410
Dividends paid to common stock and unitholders
22,937	22,938	21,353	18,253	18,061	18,064	17,388	17,388	17,388	17,365	16,724	16,725	16,723	16,541	15,883	15,826	15,827	15,827	14,711	14,524	14,350	14,323	13,535	13,313	13,140	12,855	12,265	12,266	12,114	12,112	12,114	12,113	12,113	12,113	12,112	12,114	9,784
Payments to nonaccredited investors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,150	0	-12,150	6,075
Deferred offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	361	-	-	-	-
Shares withheld for employee taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	795	0	0	12	823	361	0	6,212	461	0	0	4,319	0	0	0	0	-	-	-	-	-	-	-	-
Distributions to Predecessor's controlling and noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	39,960
Net cash used in financing activities
-74,059	-23,162	43,619	484,440	-7,351	1,094	-17,786	-30,814	-59,336	-18,651	82,658	47,162	110,745	-20,771	-6,821	-14,398	-12,283	-12,745	-1,976	3,893	7,941	-6,116	20,319	9,291	34,105	-11,900	-13,375	11,760	-14,457	-73,649	127,681	-13,267	7,341	-13,257	-13,215	70,845	192,722
Net (decrease) increase in cash and cash equivalents
-52,623	-16,611	71,582	-9,835	7,043	-8,866	5,427	-4,514	-26,729	-12,377	63,740	-159,355	145,195	-18,831	18,073	-121	4,082	396	5,209	-19,690	-4,718	-35,788	16,286	-627	30,499	-16,735	2,382	19,368	1,493	7,562	-63,667	-2,068	-12,071	-10,499	30,687	-7,861	58,443
American Assets Trust, L.P.
Net income
15,484	16,485	16,519	11,941	15,243	9,209	14,271	4,413	-691	9,731	12,505	7,588	10,308	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent revenue and amortization of lease intangibles
-3,762	-3,333	-6,214	3,673	-1,111	-1,310	-1,943	2,049	47	-314	-836	-390	-1,007	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
27,462	26,472	26,568	22,582	20,583	21,060	19,886	32,868	33,279	19,918	21,192	24,182	17,986	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs and debt fair value adjustments
374	371	372	356	368	365	359	360	446	433	445	464	1,716	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
1,250	1,118	1,130	1,131	1,098	859	726	727	727	2,818	639	639	639	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of forward interest rate swap agreement
-	-	-	-	-	-	-	-	-	0	0	237	10,430	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease termination income
0	0	0	0	4,518	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noncash interest expense
333	2,276	-333	-959	320	2,238	-320	-319	-320	1,908	-319	-330	-145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
3,570	-4,769	-2,108	1,058	-678	-379	1,491	536	-2,031	764	-1,183	314	-796	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accounts receivable
-3,632	1,803	-909	643	-466	1,337	1,219	-1,643	-577	1,327	2,463	-948	-1,726	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in other assets
-616	2,398	1,327	-1,260	-45	215	767	-1,092	337	-48	1,015	-1,506	1,038	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accounts payable and accrued expenses
4,435	-10,505	13,008	-3,697	7,150	-11,589	6,543	-3,685	5,434	-9,667	11,430	35	5,834	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in security deposits payable
30	462	-53	-115	-1,265	96	36	29	2,113	-166	-43	584	81	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in other liabilities and deferred credits
-257	398	-1,257	-1,140	-1,586	397	515	-296	666	-192	-34	217	279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
45,361	31,704	51,943	33,338	36,831	17,594	36,596	38,345	43,972	20,198	42,684	35,366	47,605	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
20,531	22,778	17,711	26,906	20,932	22,745	11,313	10,215	10,138	12,739	14,874	12,630	7,253	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leasing commissions
3,394	2,375	6,269	1,118	1,505	4,809	2,070	1,830	1,227	1,185	1,648	1,192	902	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-23,925	-25,153	-23,980	-527,613	-22,437	-27,554	-13,383	-12,045	-11,365	-13,924	-61,602	-241,883	-13,155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deposit on property acquisition
-	-	-	-	-	-	-	-	-	-	-	-4,000	5,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of secured notes payable
51,003	294	281	278	19,909	22,281	367	360	74,116	358	342	35,644	130,795	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from unsecured line of credit
0	0	0	35,000	24,000	49,000	0	0	35,000	0	43,000	130,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of unsecured line of credit
-	-	-	-	-	-	-	-	-	0	43,000	130,000	20,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of unsecured notes payable
-	-	-	-	-	-	-	-	-	0	100,000	100,000	250,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
0	12	667	9	415	40	31	0	2,656	-156	276	469	1,812	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from American Assets Trust, Inc.
-119	1,420	10,920	495,980	7,034	-	-	-	-	-202	0	0	30,075	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, net
-	-	-	-	-	-	-	-60	-176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common stock and unitholders
22,937	22,938	21,353	18,253	18,061	18,064	17,388	17,388	17,388	17,365	16,724	16,725	16,723	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-74,059	-23,162	43,619	484,440	-7,351	1,094	-17,786	-30,814	-59,336	-18,651	82,658	47,162	110,745	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash and cash equivalents
-52,623	-16,611	71,582	-9,835	7,043	-8,866	5,427	-4,514	-26,729	-12,377	63,740	-159,355	145,195	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-