Acadia realty trust (AKR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'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

-

-

-

-