ACADIA REALTY TRUST AKR Cash Flow

Acadia realty trust (AKR)

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
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income
-60,039	14,665	8,840	-5,237	2,936	-6,671	-2,597	-2,270	-4,160	24,944	13,285	6,108	19,971	34,236	326	26,155	73,875	7,871	18,104	85,458	38,537	10,091	111,072	11,868	19,115	14,707	9,140	9,614	11,179	69,284	6,653	11,176	2,823	14,375	4,647	25,041	9,652
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
33,377	32,636	32,170	30,304	30,333	30,794	28,676	29,503	28,576	27,689	26,652	26,057	24,536	23,267	15,217	14,678	16,849	15,729	17,461	13,903	13,658	13,590	12,884	11,584	11,587	11,017	10,450	10,976	10,628	9,116	10,365	10,147	9,141	8,596	8,398	8,449	8,240
Distributions of operating income from unconsolidated affiliates
1,898	2,619	3,276	3,324	2,054	2,650	2,696	5,486	4,724	1,829	3,426	9,002	1,299	2,339	1,943	1,892	1,082	544	1,712	4,146	5,889	1,799	2,230	2,988	2,562	5,185	2,190	1,246	1,208	-354	-1,472	5,431	128	302	4,407	806	0
Equity in earnings and gains of unconsolidated affiliates
1,255	1,793	1,299	3,559	2,271	2,223	376	5,019	1,684	2,327	4,001	4,340	12,703	35,857	-102	1,740	1,954	25,136	2,195	3,406	6,593	104,196	2,923	1,430	3,029	5,108	4,209	815	2,250	-3,479	-2,538	4,591	-56	-1,470	3,110	63	-148
Non-cash accretion of notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	98	406
Gain on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-303	-102	1,673
Stock compensation expense
3,819	3,596	1,919	1,988	3,454	4,616	2,219	2,304	3,809	2,026	2,127	2,767	4,235	3,966	5,579	131	4,019	1,769	1,923	1,857	1,889	1,202	1,709	1,746	2,087	3,077	1,804	1,375	1,411	294	1,098	988	970	292	1,086	1,451	853
Amortization of financing costs
1,763	1,808	1,866	2,160	1,743	1,658	1,607	1,368	1,375	1,989	1,492	1,335	1,169	1,179	833	567	625	960	1,031	778	768	789	746	780	688	281	1,289	778	734	1,174	893	819	683	1,021	1,080	873	944
Impairment charge
51,549	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on disposition of properties
-	16,254	12,056	0	2,014	-	-	-	-	-	-	-	-	0	0	16,572	65,393	0	79	61,841	27,143	662	190	1,121	12,387	14,611	0	4,191	0	-	-	-	-	14,332	0	28,576	3,922
Credit loss reserves
4,770	-	-	-	445	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
1,107	3,823	825	-80	7,059	5,437	1,881	2,561	1,889	2,186	810	4,717	2,908	2,518	1,765	1,781	2,031	1,380	2,458	1,299	1,346	1,706	369	1,089	648	1,173	895	1,227	1,476	58	89	-67	-358	2,032	-473	60	-1,557
Changes in assets and liabilities:
Other liabilities
-6,844	1,605	2,428	-1,431	-7,068	6,222	-741	-781	1,461	-2,729	-736	-1,896	1,076	26,398	9,278	-295	-8,849	2,151	452	4,659	-1,908	2,804	1,236	-1,286	345	-4,030	2,246	947	-289	-30	-279	-41	1,059	1,846	304	-47	-3,006
Prepaid expenses and other assets
-2,107	2,073	-1,688	-8,973	390	2,308	2,977	-357	2,240	-2,225	5,306	-2,319	5,736	35	7,096	5,427	-881	-10,789	6,027	87	-8,015	-422	7,140	-7,593	23	2,630	8,596	-3,723	15,021	-8,658	4,765	-964	3,824	833	2,816	-5,281	6,504
Rents receivable
-24	1,325	-128	1,541	-2,283	2,592	3,200	1,893	2,359	4,628	2,809	-2,886	6,723	-11	3,972	-2,710	3,596	3,219	53	1,047	1,354	4,390	2,873	348	486	-5,312	2,184	1,253	878	1,118	3,093	2,714	-168	1,920	2,722	1,843	2,409
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,406	-1,880	-3,259	-589	-4,748	5,273	6,232	-6,462	1,457	5,550	141	-3,596	1,611	1,493	274	-96	-660	989	-2,268	-6,584	-3,278	4,884	-2,341
Accounts receivable from related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-406	-	-	-	-
Accounts payable and accrued expenses
-2,327	329	-464	6,428	-4,661	2,184	-172	-364	-4,674	9,504	-5,900	4,891	273	2,102	-3,305	2,586	-792	-6,454	3,910	1,391	2,437	-8,225	3,612	-1,910	2,507	-259	7,137	-553	-739	-2,635	-3,705	3,057	-2,365	10,380	3,056	2,134	-1,057
Net cash provided by operating activities
27,735	31,990	32,958	42,444	19,785	28,893	18,147	26,097	22,939	27,466	18,288	44,412	24,489	53,355	13,734	24,784	17,975	28,256	31,591	27,134	26,617	20,835	15,682	23,825	22,177	23,612	16,761	20,627	4,233	23,003	2,887	21,240	11,871	26,578	18,888	15,491	4,758
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of real estate
19,088	63,026	117,931	106,682	32,034	43,083	58,731	0	46,171	62,000	60,644	43,097	34,688	203,508	273,599	6,250	12,287	46,029	19,600	52,800	220,271	119,475	29,378	17,100	90,500	79,966	30,975	22,500	86,600	104,686	26,093	62,426	48,689	25,793	25,800	64,815	0
Development, construction and property improvement costs
13,333	11,634	21,764	35,963	19,909	28,596	24,301	23,801	18,136	23,588	38,251	19,288	27,015	54,975	38,569	18,427	37,463	4,955	54,115	64,751	40,494	35,069	36,738	30,806	37,505	27,334	35,982	25,626	17,941	32,970	14,112	21,624	20,081	19,996	17,991	13,878	13,225
Issuance of or advances on notes receivable
59,000	-	-	-	-	0	0	51	2,951	151	149	10,150	150	9,149	11,400	109,003	27,800	150	150	47,650	550	7,650	4,157	19,362	0	-	-	-	-	74,129	0	17,420	17,080	26,509	4,000	0	3,834
Proceeds from the disposition of properties, net
-	8,618	67,868	2,473	9,779	-	-	-	-	-	-	-	-	-1	0	45,921	104,458	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,149	0	35,814	7,977
Investments in and advances to unconsolidated affiliates and other
1,525	-2,975	54,664	50,609	48,983	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return of capital from unconsolidated affiliates and other
5,024	67,640	1,936	34,788	1,635	-	-	-	-	-	-	25,732	2,677	-	15,014	1,373	34,235	2,318	3,914	3,714	1,946	43,767	6,278	1,835	22,491	20,496	1,725	86,196	482	8,799	1,811	10,431	1,255	769	594	2,452	689
Consolidation of previously unconsolidated investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,864	-	0	0	0	-	-	-	-
Proceeds from notes receivable
-	-	-	-	-	0	0	0	26,000	20,000	0	12,000	0	0	18,319	4,000	20,500	0	15,984	0	0	0	6,105	4,834	7,156	13,804	10,250	0	5,529	23,383	1	2,001	3	8,337	250	47,058	874
Investments in and advances to unconsolidated affiliates
-	-	-	-	-	-	-	-	1,847	-	293	1,088	3,174	3,945	5,119	55,000	8,034	13,587	4,076	3,354	3,151	97,443	31,429	6,532	21,568	1,964	2,976	51,229	2	141,532	15,898	1,768	1,690	8,437	4,972	954	40,618
Return of deposits for properties under contract
-	-	-	-	-	-	0	-14,460	16,210	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return (payment) of deposits for properties under contract
200	-	-	-	-1,952	-	-	-	1,750	-	-	-1,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred leasing costs
2,763	1,177	2,043	2,282	1,549	3,125	1,336	511	1,134	-179	1,487	1,861	2,033	2,064	2,536	2,068	847	2,276	1,657	1,469	2,805	1,260	1,430	855	369	391	1,127	879	2,220	3,878	806	1,556	1,035	2,007	1,737	1,654	900
Deposits for properties under contract
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,776	0	-33,000	33,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposition of properties of unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	25,080	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of properties, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	552	134,658	63,224	-	12,030	19,158	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-90,485	-37,433	-126,106	-140,505	-93,013	-60,301	-53,778	3,739	-26,279	156,686	-49,488	-63,832	-39,303	-237,828	-288,966	-159,532	72,762	-99,994	-46,360	26,952	-235,101	-209,544	110,151	-48,828	-120,295	72,317	-59,086	-2,222	-98,888	53,328	-22,454	-80,302	-87,317	-54,487	-53,656	4,023	-49,037
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage and other notes
1,488	1,346	44,373	114,478	8,014	12,676	20,778	3,026	45,246	175,383	98,835	26,665	5,236	102,049	17,195	176,119	99,501	55,955	14,117	47,961	30,390	125,739	-81,868	93,480	38,972	297,220	3,130	89,771	47,136	359,348	117,270	68,964	3,513	94,638	42,491	15,849	8,411
Principal payments on unsecured debt
5,000	169,405	151,295	76,760	124,140	53,700	59,300	98,800	420,500	133,919	12,499	36,616	94,100	25,000	45,290	370,000	101,500	60,000	65,000	109,815	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds received on mortgage and other notes
689	142,712	52,097	29,804	101,655	64,841	2,580	72,479	47,273	36,092	21,724	5,484	93,044	151,634	48,066	20,426	1,945	4,375	2,698	41,041	42,120	137,703	-43,100	59,000	130,700	211,500	27,183	79,760	254,000	219,539	134,648	75,378	4,250	36,157	57,579	3,074	48,149
Proceeds from unsecured debt
122,245	81,825	117,275	246,360	80,940	70,000	96,500	34,500	447,800	92,425	147,800	99,400	20,000	50,401	7,800	473,899	134,616	164,225	67,600	58,000	127,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of finance lease obligations
625	624	625	875	625	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other employee and trustee stock compensation, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	248	78	-	-	128	-107	-	-656	0	7
Repurchase of Common Shares
22,352	-	-	-	-	54	0	23,096	31,961	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	725
Loan proceeds held as restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,462	0	0	5,361	12,991	5,121	25,203	18,677	22,001	23,455	15,058	24,597	18,630	-1,426	-151,596	0	0	0	0	-	-	-	-
Proceeds from the sale of Common Shares, net
-	9,748	60,635	47,281	27,834	-	-	-	-	-	-	0	0	-	215,913	109,323	32,026	36,301	5,853	2,475	18,605	243,710	25,250	64,980	23,519	4,923	-106	24,031	51,840	126,937	35,823	52,688	8,029	44,659	0	0	0
Capital contributions from noncontrolling interests
7,268	0	129,437	0	32,191	-	-	-	-	64,684	17	241	20,264	90,696	47,003	111,066	46,343	594	4,761	30,084	50	22,653	4,271	22,334	8,712	21,809	11,948	15,567	0	49,919	14,228	69,503	38,578	74,299	0	43,646	0
Distributions to noncontrolling interests
4,914	61,453	31,493	3,425	4,999	1,837	10,727	16,593	2,411	27,129	4,361	2,289	6,163	31,382	3,180	14,437	56,995	5,035	14,927	29,930	34,718	7,834	156,766	23,153	33,577	58,403	11,492	15,982	3,098	98,302	17,711	42,055	3,697	7,127	355	869	254
Dividends paid to Common Shareholders
25,245	24,261	23,647	23,158	22,836	22,018	22,006	22,262	22,601	21,757	21,751	21,744	34,275	19,660	18,694	17,868	35,112	16,565	16,518	16,491	36,779	13,811	13,585	13,016	12,798	11,644	11,644	11,410	9,417	8,472	8,198	7,807	7,666	7,260	7,260	7,257	7,256
Deferred financing and other costs
222	2,750	23	813	3,334	903	131	363	2,822	1,224	920	2,366	1,701	6,390	2,264	2,549	475	1,221	409	1,514	1,232	1,552	87	1,112	921	723	-211	1,231	9,998	88	3,098	3,016	570	42	1,567	756	512
Common Shares issued under Employee Share Purchase Plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21	24
Net cash provided by financing activities
70,356	-25,554	107,988	103,936	78,672	44,223	26,578	-50,611	-30,468	-166,211	31,175	15,445	-8,167	192,656	240,621	133,741	-78,653	71,700	-17,068	-68,990	110,459	275,157	-81,498	39,008	91,721	-105,161	30,724	-214	84,673	-69,815	38,401	75,855	35,304	19,694	-16,064	22,010	31,022
Increase in cash and restricted cash
7,606	-30,997	14,840	5,875	5,444	12,815	-9,053	-20,775	-33,808	17,941	-25	-3,975	-22,981	8,183	-34,611	-1,007	12,084	-38	-31,837	-14,904	-98,025	86,448	44,335	14,005	-6,397	-9,232	-11,601	18,191	-9,982	6,516	18,834	16,793	-40,142	-8,215	-50,832	41,524	-13,257
Supplemental disclosure of cash flow information
Cash paid during the period for interest, net of capitalized interest of $2,938 and $2,575 respectively
14,156	0	18,201	18,487	16,898	16,581	16,032	17,309	11,910	10,316	16,283	13,714	9,629	14,163	8,870	10,809	8,437	13,814	11,411	9,391	13,344	11,607	11,449	11,313	12,173	11,785	13,090	10,810	5,858	7,799	8,819	8,009	7,700	10,114	5,323	8,191	8,492
Cash paid for income taxes, net of refunds
219	0	472	145	113	-	-	-	673	102	635	-82	220	769	2,534	-1,011	-256	-505	970	671	902	-2,088	0	35	281	20	144	125	12	0	433	438	70	55	20	358	3,343
Supplemental disclosure of non-cash investing and financing activities
Assumption of accounts payable and accrued expenses through acquisition of real estate
116	969	1,901	1,637	159	1,583	589	0	425	12	234	1,265	662	1,778	1,809	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets, finance leases obtained in exchange for finance lease liabilities
-	0	0	10,685	5,664	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets, finance leases obtained in exchange for assets under capital lease
-	0	0	0	76,965	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets, operating leases obtained in exchange for operating lease liabilities
-	0	0	45,294	11,871	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease obligation exchanged for finance lease liability
-	0	0	0	71,111	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities exchanged for operating lease liabilities
-	0	0	0	946	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of undivided interest in a property through conversion of notes receivable
-	-	-	-	-	0	0	0	22,201	44,690	0	16,005	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of real estate through conversion of note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	18,500	0	10,000	4,000	0	-	-	-	-
Acquisition of real estate through issuance of OP Units
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	29,336	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	2,279	0	0	0	0
Acquisition of capital lease obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	76,461	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Disposition of real estate through forgiveness of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	22,865	0	0	0	0	-	-	-	-	-	-	-	-
Real estate, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	118,484	0	0	0	0	-	-	-	-
Investments in and advances to unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,298	0	0	0	0	-	-	-	-
Mortgage notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	166,200	0	0	0	0	-	-	-	-
Other assets and liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,210	0	0	-1,605	0	0	0	0	-	-	-	-
Noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	67,898	-33,949	0	0	0	0	-	-	-	-
Cash included in consolidation of previously unconsolidated investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,864	-	0	0	0	-	-	-	-