Acadia realty trust (AKR)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income

21,204

-15,698

64,308

134,592

149,970

152,146

44,640

89,936

53,715

50,667

12,706

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization

125,443

117,549

104,934

70,011

60,751

49,645

43,071

38,769

33,683

34,499

33,520

Distributions of operating income from unconsolidated affiliates

11,273

15,556

15,556

7,256

12,291

9,579

9,829

3,733

5,515

12,124

880

Gain on disposition of property of unconsolidated affiliates

-

-

-

-

-

-

0

3,061

-

-

-

Impairment of investment in unconsolidated affiliate

-

-

-

-

-

-

-

-

-

-

3,768

Equity in earnings and gains of unconsolidated affiliates

8,922

9,302

23,371

39,449

37,330

111,578

12,382

-1,482

1,555

10,971

-1,529

Gain from bargain purchase

-

-

-

-

-

-

-

-

-

33,805

0

Amortization of discount on convertible debt

-

-

-

-

-

-

-

-

829

1,042

1,280

Non-cash accretion of notes receivable

-

-

-

-

-

-

-

-

-

6,164

5,352

Gain on debt extinguishment

-

-

-

-

-

-

-

-

-

-

7,057

Stock compensation expense

10,957

12,948

11,155

13,695

7,438

6,744

7,667

3,350

3,682

4,104

3,969

Amortization of financing costs

7,577

6,008

5,985

3,204

3,537

3,003

3,082

3,569

3,918

6,054

3,722

Impairment charge

1,721

-

14,455

0

5,000

-

-

-

-

-

-

Gain on disposition of properties

30,324

5,140

48,886

81,965

89,063

14,360

18,802

71,203

46,830

0

7,143

Gain on change in control

-

-

5,571

0

0

-

-

-

-

-

-

Deferred gain on tax credits

5,034

-

-

-

-

-

-

-

-

-

-

Loss on debt extinguishment

-

-

-

-

-

-

-1,565

-2,739

1,268

0

-

Gain on involuntary conversion of asset

-

-

-

-

-

-

-

2,368

0

0

-

Reserve for notes receivable

-

-

-

-

-

-

-

405

0

0

1,734

Impairment of asset

-

-

-

-

-

0

8,183

0

6,925

0

0

Provision for bad debt

-

-

-

-

-

-

-

-

-

-

4,132

Other, net

11,627

11,768

10,621

8,095

6,483

3,812

4,771

-278

62

-4,237

-7,457

Changes in assets and liabilities:
Other liabilities

-4,466

6,161

-4,285

26,532

5,354

3,099

-1,126

709

-903

3,517

221

Prepaid expenses and other assets

-8,198

7,168

6,498

11,677

-12,690

-852

22,524

-1,033

4,872

-4,297

-6,166

Rents receivable

455

10,044

11,274

4,847

5,673

8,097

-997

6,757

8,894

4,662

8,370

Restricted cash

-

-

-

-

6,168

686

-218

-2,035

-7,319

20,028

1,788

Accounts receivable from related parties

-

-

-

-

-

-

-

-

-

2,408

-1,990

Accounts payable and accrued expenses

1,632

-3,026

8,768

591

1,284

-4,016

5,586

-5,648

14,513

1,874

-5,902

Net cash provided by operating activities

127,177

96,076

114,655

109,848

113,598

82,519

65,233

59,001

65,715

44,377

47,462

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate

319,673

147,985

200,429

495,644

338,700

256,453

220,041

241,894

116,408

2,849

127,322

Acquisition of leasehold interests

39,031

-

-

-

-

-

-

-

-

-

-

Development, construction and property improvement costs

89,270

94,834

108,142

149,434

164,315

140,118

106,883

88,787

65,090

77,671

-

Issuance of or advances on notes receivable

3,608

3,002

10,600

157,352

48,500

31,169

45,050

108,629

34,343

0

9,362

Proceeds from the disposition of properties, net

88,738

63,866

260,711

150,378

168,895

31,188

204,537

419,372

62,940

0

11,956

Investments in and advances to unconsolidated affiliates and other

151,281

3,161

6,535

-

-

-

-

-

-

-

-

Return of capital from unconsolidated affiliates and other

105,999

26,338

43,684

-

11,892

74,371

108,899

22,296

4,504

785

4,705

Change in control of previously consolidated investment

-

-573

-576

5,172

0

-

-

-

-

-

-

Consolidation of previously unconsolidated investment

-

-

-

-

-

-

-

-

0

-

-

Proceeds from notes receivable

15,250

26,000

32,000

42,819

15,984

18,095

29,583

25,388

56,519

42,010

13,614

Insurance proceeds from involuntary conversion of asset

-

-

-

-

-

-

-

3,672

0

0

-

Investments in and advances to unconsolidated affiliates

-

-

-

72,098

24,168

156,972

56,171

160,888

54,981

19,116

5,603

Return of deposits for properties under contract

-

-

-

79,030

-

-

-

-

-

-

-

Return (payment) of deposits for properties under contract

2,870

1,692

-2,000

1,424

-

-

-

-

-

-

-

Payment of deferred leasing costs

7,051

6,106

5,202

7,515

8,207

3,914

4,617

7,275

6,298

3,904

11,368

Deposits for properties under contract

-

-

-

-

5,776

-6,100

-

-

-

-

-

Proceeds from disposition of properties of unconsolidated affiliates

-

-

-

-

38,392

190,356

0

0

-

-

-

Change in control of previously unconsolidated affiliate

-

-573

-576

5,172

0

-

-

-

-

-

-

Change in control of previously consolidated affiliate

-

-

-

-

-

0

1,864

0

-

-

-

Net cash used in investing activities

-397,057

-136,619

4,063

-613,564

-354,503

-268,516

-87,879

-136,745

-153,157

-60,745

-123,380

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes

168,211

81,726

306,119

394,864

148,423

176,323

437,257

549,095

161,389

127,823

182,610

Principal payments on unsecured debt

521,600

632,300

277,134

541,790

234,815

-

-

-

-

-

-

Proceeds received on mortgage and other notes

326,268

187,173

156,344

222,071

90,234

284,303

572,443

433,815

144,959

175,793

260,065

Proceeds from unsecured debt

526,400

648,800

359,625

666,716

417,425

-

-

-

-

-

-

Payments of finance lease obligations

2,749

-

-

-

-

-

-

-

-

-

-

Other employee and trustee stock compensation, net

-

-

-

-

-

-

-

-

-

209

1,556

Repurchase of Common Shares

-

55,111

-

-

-

-

-

-

-

966

5,424

(Repurchase) issuance of Common Shares

-

-

-

450,130

-

-

-

-

-

-

-

Loan proceeds held as restricted cash

-

-

-

-

48,676

79,191

-109,795

0

0

-

-

Purchase of convertible notes payable

-

-

-

-

380

0

550

0

48,997

-240

-46,736

Proceeds from the sale of Common Shares, net

145,498

-

-

-

63,234

357,459

80,688

223,477

44,659

0

65,222

Capital contributions from noncontrolling interests

161,628

47,560

85,206

295,108

35,489

57,970

49,324

172,228

117,945

33,556

25,653

Distributions to noncontrolling interests

101,370

31,568

39,942

105,994

84,610

221,330

88,975

161,765

8,605

1,638

2,879

Dividends paid to Common Shareholders

93,902

88,887

99,527

91,334

86,353

53,210

44,115

32,143

29,033

28,909

30,163

Deferred financing and other costs

6,920

4,219

6,211

11,678

4,376

3,672

11,741

6,772

2,877

6,830

1,755

Common Shares issued under Employee Share Purchase Plan

-

-

-

-

-

-

-

-

-

-

106

Net cash provided by financing activities

265,042

-10,278

-127,758

488,365

96,101

324,388

10,022

79,745

56,662

43,152

83,035

Increase in cash and restricted cash

-4,838

-50,821

-9,040

-15,351

-144,804

138,391

-12,624

2,001

-30,780

26,784

7,117

Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $2,938 and $2,575 respectively

53,586

61,832

49,942

42,279

47,960

46,542

41,543

32,327

32,120

31,920

30,183

Cash paid for income taxes, net of refunds

730

1,227

875

2,036

2,038

-1,772

301

941

3,776

1,263

777

Supplemental disclosure of non-cash investing and financing activities
Assumption of accounts payable and accrued expenses through acquisition of real estate

4,666

2,597

2,173

3,587

0

0

-

-

-

-

-

Right-of-use assets, finance leases obtained in exchange for finance lease liabilities

16,349

-

-

-

-

-

-

-

-

-

-

Right-of-use assets, finance leases obtained in exchange for assets under capital lease

76,965

-

-

-

-

-

-

-

-

-

-

Right-of-use assets, operating leases obtained in exchange for operating lease liabilities

57,165

-

-

-

-

-

-

-

-

-

-

Capital lease obligation exchanged for finance lease liability

71,111

-

-

-

-

-

-

-

-

-

-

Note receivable exchanged for sale of real estate

13,530

-

-

-

-

-

-

-

-

-

-

Other liabilities exchanged for operating lease liabilities

946

-

-

-

-

-

-

-

-

-

-

Assumption of debt through investments in unconsolidated affiliates

4,688

-

-

-

-

-

-

-

-

-

-

Acquisition of undivided interest in a property through conversion of notes receivable

-

22,201

60,695

-

0

-

-

-

-

-

-

Disposition of air rights through issuance of notes receivable

-

-

-

-

29,539

0

-

-

-

-

-

Acquisition of real estate through assumption of restricted cash

-

-

-

-

28,912

0

0

-

-

-

-

Acquisition of real estate through conversion of note receivable

-

-

9,142

-

13,386

38,000

18,500

14,000

0

0

-

Acquisition of real estate through issuance of OP Units

-

-

-

29,336

0

38,937

33,300

2,279

0

0

-

Dividends paid through the issuance of Common Shares

-

-

-

-

-

-

-

-

-

-

16,192

Acquisition of capital lease obligation

-

-

-

76,461

0

0

-

-

-

-

-

Mortgage debt financed at time of acquisition

-

-

-

63,900

0

0

-

-

-

-

-

Assumption of prepaid expenses and other assets through acquisition of real estate

-

-

-

2,226

0

0

-

-

-

-

-

Change in control of previously unconsolidated (consolidated) investment
(Increase) decrease in real estate

828

-31,836

-39,322

90,559

0

-

-

-

-

-

-

Decrease (increase) in investments in and advances to unconsolidated affiliates

-1,189

35,881

4,159

-21,421

0

-

-

-

-

-

-

Disposition of real estate through forgiveness of debt

-

-

-

-

-

22,865

0

0

-

-

-

Investments in and advances to unconsolidated affiliates through issuance of OP Units

-

-

-

-

-

5,114

0

0

-

-

-

Real estate, net

-

-

-

-

-

0

118,484

0

0

-108,000

0

Investments in and advances to unconsolidated affiliates

-

-

-

-

-

0

10,298

0

0

-37,824

0

Mortgage notes payable

-

-

-

-

-

-

166,200

0

0

-

-

Other assets and liabilities

-

-

-

-

-

0

1,605

0

0

-7,532

0

Decrease in noncontrolling interest

-

-

-

75,713

0

-

-

-

-

-

-

Change in other assets and liabilities

12

-3,472

-1,842

1,403

0

-

-

-

-

-

-

Decrease in right-of-use assets, finance leases

11,051

-

-

-

-

-

-

-

-

-

-

Decrease in finance lease liability

10,702

-

-

-

-

-

-

-

-

-

-

Decrease in notes receivable

-

-

32,010

-

0

-

-

-

-

-

-

Gain on change in control

-

-

-5,571

-

0

-

-

-

-

-

-

Increase in cash and restricted cash upon change of control

-

573

576

-5,172

0

-

-

-

-

-

-

Noncontrolling interest

-

-

-

75,713

0

0

33,949

0

0

-

-

Cash removed in de-consolidation of previously consolidated investment

-

-

-

-

-

0

1,864

0

-

-

-

Change in control of previously consolidated investment

-

-573

-576

5,172

0

-

-

-

-

-

-

Cash included in consolidation of previously unconsolidated investment

-

-

-

-

-

-

-

-

0

-

-

Gain from bargain purchase

-

-

-

-

-

-

-

-

-

33,805

0

Cash included in investment in real estate

-

-

-

-

-

-

-

-

-

-2,849

0