AMERICAN ASSETS TRUST, INC. AAT Cash Flow

American assets trust, inc. (AAT)

CashFlow / TTM

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
60,429	60,188	52,912	50,664	43,136	27,202	27,724	25,958	29,133	40,132	42,809	42,162	45,224	45,637	44,455	51,623	53,257	53,915	52,735	42,799	35,866	31,145	28,006	25,174	24,387	22,594	57,508	55,535	53,595	51,601	10,435	10,768	8,599	19,324	0	0	0
Results from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37,652	1,206	6,779	5,429	5,653	0	0	0
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,949	9,229	5,573	3,170	13,671	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles
-9,636	-6,985	-4,962	-691	-2,315	-1,157	-161	946	-1,493	-2,547	-2,573	-2,247	-2,680	-2,637	-3,678	-4,765	-5,198	-5,587	-4,469	-4,426	-4,431	-4,623	-5,764	-5,929	-5,379	-4,997	-5,840	-5,770	-6,579	-6,967	-6,816	-6,202	-5,509	-3,735	0	0	0
Depreciation and amortization
103,084	96,205	90,793	84,111	94,397	107,093	105,951	107,257	98,571	83,278	81,520	78,320	71,852	71,319	70,397	68,166	65,738	63,392	61,820	62,411	65,334	66,568	67,063	67,359	66,103	66,775	67,190	66,636	64,012	61,853	59,297	59,030	58,635	55,936	0	0	0
Amortization of debt issuance costs and debt fair value adjustments
1,473	1,467	1,461	1,448	1,452	1,530	1,598	1,684	1,788	3,058	3,744	4,415	5,064	4,473	4,408	4,346	4,294	4,214	4,189	4,150	4,105	4,075	4,029	3,997	3,964	3,932	3,932	3,919	3,932	3,911	3,887	3,946	3,980	3,883	0	0	0
Early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25,867	0	0	0
Loan transfer and consent fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,808	0	0	0
Gain on acquisition of controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46,371	0	0	0
Stock-based compensation expense
4,629	4,477	4,218	3,814	3,410	3,039	4,998	4,911	4,823	4,735	2,476	2,437	2,435	2,414	2,595	2,408	2,605	2,877	3,232	3,864	4,037	3,666	3,297	2,978	2,688	2,845	2,843	2,839	2,829	2,852	2,841	2,831	2,823	2,615	0	0	0
Settlement of forward interest rate swap agreement
-	-	-	-	-	-	-	-	-	10,667	10,667	10,667	10,430	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease termination income
0	4,518	4,518	4,518	4,518	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noncash interest expense
1,317	1,304	1,266	1,279	1,919	1,279	949	950	939	1,114	-852	-591	-319	-231	-231	-230	-230	-231	-212	-155	-97	-39	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-2,249	-6,497	-2,107	1,492	970	-383	760	-1,914	-2,136	-901	272	-541	-1,430	769	-3,121	-320	704	-879	330	-4	-447	95	795	-961	-1,688	-848	-2,228	-1,196	-804	-2,422	-1,890	-2,295	-2,147	-2,666	0	0	0
Changes in operating assets and liabilities
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,793	-	-1,383	-1,959	-3,282	-1,198	644	610	1,396	755	697	574	905	1,000	907	841	1,889	-97	0	0	0
Change in accounts receivable
-2,095	1,071	605	2,733	447	336	326	1,570	2,265	1,116	572	-99	633	2,347	978	1,702	1,873	1,011	1,123	1,181	-131	-279	-779	-3,407	-2,175	45	1,418	2,638	2,648	-63	-154	433	648	3,570	0	0	0
Change in other assets
1,849	2,420	237	-323	-155	227	-36	212	-202	499	1,506	555	1,322	982	-194	99	-202	243	399	-167	858	107	188	427	264	88	-1,450	210	-1,231	-143	2,825	1,827	1,888	2,040	0	0	0
Change in accounts payable and accrued expenses
3,241	5,956	4,872	-1,593	-1,581	-3,297	-1,375	3,512	7,232	7,632	7,687	4,359	2,487	1,371	-1,289	632	-508	-1,081	5,274	1,536	821	1,381	394	-482	-84	1,167	3,241	1,873	3,749	-1,799	-530	2,461	3,060	2,128	0	0	0
Change in security deposits payable
324	-971	-1,337	-1,248	-1,104	2,274	2,012	1,933	2,488	456	638	708	131	158	317	229	248	493	563	577	653	358	266	229	154	307	1,210	392	246	-50	-1,149	850	-134	82	0	0	0
Change in other liabilities and deferred credits
-2,256	-3,585	-3,586	-1,814	-970	1,282	693	144	657	270	1,020	1,629	2,398	2,275	1,403	776	-28	-36	-1,285	-372	-779	188	1,581	738	1,019	151	315	266	642	186	0	0	0	-	-	-	-
Net cash provided by operating activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75,563	64,215	66,858	62,490	59,200	0	0	0
Net cash provided by operating activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	382	4,720	5,141	6,104	6,164	0	0	0
Net cash provided by operating activities
162,346	153,816	139,706	124,359	129,366	136,507	139,111	145,199	142,220	145,853	143,609	140,103	134,026	120,681	123,144	116,336	112,210	110,460	114,257	112,950	110,128	105,611	99,641	97,395	95,055	92,734	95,041	86,276	83,117	75,945	68,935	71,999	68,594	65,364	0	0	0
INVESTING ACTIVITIES
Acquisition of real estate, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	273,990	257,339	135,599	135,599	231,558	0	0	0
Capital expenditures
87,926	88,327	88,294	81,896	65,205	54,411	44,405	47,966	50,381	47,496	48,807	47,664	49,751	59,633	64,601	76,796	107,184	134,174	164,953	172,643	158,499	144,674	117,049	95,732	76,073	55,675	42,457	43,835	38,494	34,582	30,534	20,272	15,805	10,777	0	0	0
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	835	-	14,757	2,504	2,966	3,068	1,124	949	368	-453	-1,796	-3,485	-3,214	-2,557	350	2,053	1,805	3,069	0	0	0
Cash acquired from acquisition of controlling interests in real estate joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,222	0	0	0
Leasing commissions
13,156	11,267	13,701	9,502	10,214	9,936	6,312	5,890	5,252	4,927	5,506	4,280	3,857	3,572	3,027	3,567	4,235	4,461	5,535	5,750	4,945	5,098	3,860	3,316	3,690	3,032	2,758	3,488	3,327	3,456	3,347	2,886	2,705	2,444	0	0	0
Deposit on property acquisition
-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33,103	0	0	0
Maturity of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,384	0	0	0	-	-	-	-
Net cash used in investing activities of continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-281,896	-264,504	-62,604	-149,308	-260,736	0	0	0
Net cash provided by investing activities of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87,601	-1,234	29,052	29,256	29,047	0	0	0
Net cash used in investing activities
-600,671	-599,183	-601,584	-590,987	-75,419	-64,347	-50,717	-98,936	-328,774	-330,564	-332,654	-285,336	-58,465	-63,205	-54,467	-65,368	-99,102	-126,376	-172,986	-182,897	-166,410	-152,840	-122,033	-99,997	-80,131	-58,254	25,485	-172,855	-166,105	-194,295	-265,738	-33,552	-120,052	-231,689	0	0	0
FINANCING ACTIVITIES
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,400	0	0	0	-	-	-	-	-	-	-	-
Issuance of secured notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	132,900	0	0	0	-	-	-	-
Repayment of secured notes payable
51,856	20,762	42,749	42,835	42,917	97,124	75,201	75,176	110,460	167,139	190,243	190,340	182,828	136,974	113,946	113,919	219,192	235,980	376,653	376,626	243,600	142,276	93,840	94,365	94,882	95,420	33,863	34,150	34,408	34,626	4,656	4,562	4,495	264,250	0	0	0
Proceeds from unsecured term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	150,000	150,000	150,000	100,000	0	0	0	0	100,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Defeasance costs on repayment of secured notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,345	0	0	0
Proceeds from unsecured line of credit
35,000	59,000	108,000	108,000	73,000	84,000	35,000	78,000	208,000	173,000	197,000	154,000	24,000	34,000	15,000	20,000	55,000	65,000	60,000	55,000	20,000	0	93,000	93,000	93,000	93,000	0	0	0	-	-	-	-	-	-	-	-
Repayment of unsecured line of credit
-	-	-	-	-	-	-	-	-	193,000	197,000	154,000	44,000	44,000	40,000	50,000	55,000	35,000	35,000	25,000	0	93,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of unsecured notes payable
-	-	-	-	-	-	-	-	-	450,000	450,000	350,000	250,000	0	0	0	100,000	200,000	350,000	350,000	250,000	150,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loan transfer and consent fees paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8,350	0	0	0
Repayment of line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	38,013	0	0	0
Repayment of notes payable to affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,279	0	0	0
Debt issuance costs
688	1,103	1,131	495	486	2,727	2,531	2,776	3,245	2,401	2,505	2,393	2,364	2,055	2,714	2,871	4,344	2,881	2,458	2,137	224	2,141	1,957	1,957	1,957	0	423	431	431	1,355	932	924	1,378	2,961	0	0	0
Proceeds from issuance of common stock, net
508,201	515,354	513,934	503,014	6,974	-236	-438	-438	-378	29,873	30,050	39,715	39,715	9,640	9,611	18,775	62,510	72,782	72,795	88,205	67,453	104,107	104,706	70,335	72,274	25,348	0	0	0	-	-	-	-	596,541	0	0	0
Proceeds from private placement of common units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,410	0	0	0
Dividends paid to common stock and unitholders
85,481	80,605	75,731	71,766	70,901	70,228	69,529	68,865	68,202	67,537	66,713	65,872	64,973	64,077	63,363	62,191	60,889	59,412	57,908	56,732	55,521	54,311	52,843	51,573	50,526	49,500	48,757	48,606	48,453	48,452	48,453	48,451	48,452	46,123	0	0	0
Payments to nonaccredited investors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,075	0	0	0
Deferred offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	361	0	0	0	-	-	-	-
Shares withheld for employee taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	807	835	1,196	1,196	7,396	7,034	6,673	6,673	4,780	4,319	4,319	4,319	0	0	0	0	-	-	-	-	-	-	-	-
Distributions to Predecessor's controlling and noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,960	0	0	0
Net cash used in financing activities
430,838	497,546	521,802	460,397	-54,857	-106,842	-126,587	-26,143	51,833	221,914	219,794	130,315	68,755	-54,273	-46,247	-41,402	-23,111	-2,887	3,742	26,037	31,435	57,599	51,815	18,121	20,590	-27,972	-89,721	51,335	26,308	48,106	108,498	-32,398	51,714	237,095	0	0	0
Net (decrease) increase in cash and cash equivalents
-7,487	52,179	59,924	-6,231	-910	-34,682	-38,193	20,120	-134,721	37,203	30,749	-14,918	144,316	3,203	22,430	9,566	-10,003	-18,803	-54,987	-43,910	-24,847	10,370	29,423	15,519	35,514	6,508	30,805	-35,244	-56,680	-70,244	-88,305	6,049	256	70,770	0	0	0
American Assets Trust, L.P.
Net income
60,429	60,188	52,912	50,664	43,136	27,202	27,724	25,958	29,133	40,132	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent revenue and amortization of lease intangibles
-9,636	-6,985	-4,962	-691	-2,315	-1,157	-161	946	-1,493	-2,547	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
103,084	96,205	90,793	84,111	94,397	107,093	105,951	107,257	98,571	83,278	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs and debt fair value adjustments
1,473	1,467	1,461	1,448	1,452	1,530	1,598	1,684	1,788	3,058	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
4,629	4,477	4,218	3,814	3,410	3,039	4,998	4,911	4,823	4,735	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of forward interest rate swap agreement
-	-	-	-	-	-	-	-	-	10,667	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease termination income
0	4,518	4,518	4,518	4,518	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noncash interest expense
1,317	1,304	1,266	1,279	1,919	1,279	949	950	939	1,114	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-2,249	-6,497	-2,107	1,492	970	-383	760	-1,914	-2,136	-901	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accounts receivable
-2,095	1,071	605	2,733	447	336	326	1,570	2,265	1,116	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in other assets
1,849	2,420	237	-323	-155	227	-36	212	-202	499	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accounts payable and accrued expenses
3,241	5,956	4,872	-1,593	-1,581	-3,297	-1,375	3,512	7,232	7,632	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in security deposits payable
324	-971	-1,337	-1,248	-1,104	2,274	2,012	1,933	2,488	456	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in other liabilities and deferred credits
-2,256	-3,585	-3,586	-1,814	-970	1,282	693	144	657	270	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
162,346	153,816	139,706	124,359	129,366	136,507	139,111	145,199	142,220	145,853	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
87,926	88,327	88,294	81,896	65,205	54,411	44,405	47,966	50,381	47,496	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leasing commissions
13,156	11,267	13,701	9,502	10,214	9,936	6,312	5,890	5,252	4,927	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-600,671	-599,183	-601,584	-590,987	-75,419	-64,347	-50,717	-98,936	-328,774	-330,564	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deposit on property acquisition
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of secured notes payable
51,856	20,762	42,749	42,835	42,917	97,124	75,201	75,176	110,460	167,139	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from unsecured line of credit
35,000	59,000	108,000	108,000	73,000	84,000	35,000	78,000	208,000	173,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of unsecured line of credit
-	-	-	-	-	-	-	-	-	193,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of unsecured notes payable
-	-	-	-	-	-	-	-	-	450,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
688	1,103	1,131	495	486	2,727	2,531	2,776	3,245	2,401	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from American Assets Trust, Inc.
508,201	515,354	0	0	0	-	-	-	-	29,873	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, net
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common stock and unitholders
85,481	80,605	75,731	71,766	70,901	70,228	69,529	68,865	68,202	67,537	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
430,838	497,546	521,802	460,397	-54,857	-106,842	-126,587	-26,143	51,833	221,914	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash and cash equivalents
-7,487	52,179	59,924	-6,231	-910	-34,682	-38,193	20,120	-134,721	37,203	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-