Coresite realty corp (COR)
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'11Dec'10
CASH FLOWS FROM OPERATING ACTIVITIES
Net income

22,988

24,745

22,644

25,743

25,905

25,898

25,020

27,279

28,566

27,008

24,288

24,135

25,060

23,161

19,319

19,835

19,606

17,387

14,530

12,882

12,060

12,306

8,990

10,638

8,118

9,029

8,509

7,879

6,195

4,578

2,947

1,848

1,343

462

263

-3,588

-7,916

-10,722

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

40,991

39,737

40,546

36,996

35,646

36,035

36,264

35,558

33,776

32,629

32,077

32,207

32,338

30,674

26,981

26,227

24,770

24,493

24,347

24,046

22,816

22,422

20,914

19,504

17,882

17,151

16,424

16,261

15,949

16,336

16,583

15,947

15,461

15,743

16,091

17,660

19,473

19,146

Amortization of above/below market leases

-34

-35

-391

258

-86

-86

-833

164

175

-1,026

177

127

124

124

141

409

-133

907

-129

-130

-128

-118

-256

-112

-70

-151

-241

-199

-232

-264

-444

-401

-396

-511

-375

-374

-390

-390

Amortization of deferred financing costs and hedge amortization

1,029

970

901

856

611

614

637

553

566

445

445

417

369

369

370

311

283

247

413

292

294

420

448

449

580

446

446

427

420

374

435

436

436

371

359

399

427

427

Gain on real estate disposal

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

72

0

0

-36

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

3,482

3,603

3,732

3,617

3,432

3,174

3,052

3,186

2,626

2,401

2,374

2,369

1,802

2,018

2,470

2,311

2,093

1,809

1,944

1,792

1,569

1,359

1,518

1,532

1,716

1,433

1,759

1,683

1,895

1,567

1,557

1,779

747

693

879

889

497

538

Amortization of discount to fair market value of acquired loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

687

916

Bad debt expense (recovery)

700

185

-89

222

-27

71

-212

57

-145

335

656

443

-96

126

112

18

142

-109

142

90

78

-178

297

244

285

3

84

-117

274

268

240

-106

142

328

-160

104

20

25

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-427

-

48

470

77

-3,670

Accounts receivable

3,952

-5,135

-3,518

3,831

7,658

-5,922

-818

-241

-3,942

1,220

7,087

633

-3,853

9,059

2,413

-2,284

4,011

-2,068

-934

4,645

503

-1,167

1,301

65

400

-753

3,249

-2,295

481

98

2,081

495

983

-155

491

314

873

1,790

Due to and due from related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-2

-

Deferred rent receivable

496

-609

-1,670

-1,512

-1,036

194

263

1,417

1,250

484

613

1,198

1,350

5,177

265

594

1,047

2,376

2,508

2,334

581

1,517

1,398

857

473

588

1,042

422

196

704

785

909

1,568

1,306

1,412

1,409

859

995

Deferred leasing costs

6,189

3,695

2,744

4,289

2,694

2,532

3,164

2,571

3,405

3,359

3,198

3,098

3,660

3,861

3,896

3,097

3,541

6,313

3,381

4,082

3,779

5,850

12,070

2,670

800

1,479

1,169

2,226

1,978

1,169

392

562

1,982

-366

1,541

1,002

2,038

503

Other assets

2,408

-263

7,274

-3,398

4,519

-1,263

3,131

-2,498

4,709

539

1,634

1,508

7,243

320

2,000

397

6,102

874

2,253

445

1,963

4,494

350

-1,391

1,006

4,444

1,688

-1,002

2,027

3,465

-2,196

-412

1,608

-1,485

2,779

-121

-658

987

Accounts payable and accrued expenses

-2,579

-7,592

8,854

4,189

2,757

-2,772

6,615

1,615

-1,956

-2,534

2,768

144

846

3,497

3,784

3,162

-5,533

2,487

5,068

-564

-459

104

2,166

-3,442

-2,988

395

5,576

1,567

-3,782

1,039

1,452

-2,215

1,969

-3,243

478

7,097

2,941

-176

Unearned revenue, prepaid rent and other liabilities

726

-332

54

-9,676

857

-74

-455

-2,657

1,911

3,606

-5,119

1,533

-2,255

6,216

3,467

-1,116

129

762

3,784

3,401

1,614

768

1,288

1,312

3,982

-118

107

-587

860

2,272

-1,894

-935

-1,054

191

811

1,577

241

1,528

Deferred rent payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

136

-172

-320

-314

-271

-232

-234

-211

-205

-128

-117

67

3,855

82

1,313

131

171

242

250

251

286

355

366

400

Operating leases

296

281

569

823

643

2,706

-657

1,842

-1,400

254

269

306

1,405

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

54,554

63,874

72,334

59,474

55,903

70,025

64,369

66,020

58,347

58,372

45,049

54,990

50,945

47,636

47,924

48,629

26,336

39,134

42,620

30,071

30,748

24,970

20,041

27,796

26,709

22,497

29,371

27,645

18,210

20,865

19,985

14,614

13,184

15,580

12,371

20,096

13,159

11,087

Tenant improvements

1,329

847

1,023

1,098

1,046

1,056

1,524

1,372

1,295

1,569

1,472

2,201

2,608

2,391

1,418

1,292

777

2,380

1,685

1,819

1,852

853

553

2,187

2,300

1,914

1,809

2,024

1,381

809

1,849

1,178

2,239

-

-

-

-

4,623

Real estate improvements

85,840

102,661

80,781

77,950

80,795

79,446

53,176

52,755

54,338

45,408

23,215

42,747

42,586

58,396

105,898

58,464

70,601

49,753

22,205

26,578

23,660

18,181

31,219

23,152

27,747

67,488

49,803

36,598

31,563

33,561

18,476

15,878

15,922

17,552

33,032

41,302

20,310

6,725

Acquisition of NY2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

21,889

-

-

-

-

-

-

-

-

-

Proceeds from real estate disposal

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

-2,410

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assumption of cash balances in connection with the contribution of the CoreSite Acquired Properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,269

Business combinations and asset acquisitions

-

-

-

-

-

0

0

6,298

4,383

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

310,960

Net cash used in investing activities

-87,169

-103,508

-81,804

-105,108

-81,841

-80,502

-54,700

-60,425

-60,016

-46,977

-36,845

-44,948

-45,194

-121,677

-111,391

-59,756

-71,378

-52,133

-23,890

-28,408

-23,102

-19,034

-31,772

-25,339

-30,047

-69,402

-51,612

-38,622

-54,833

-34,369

-11,788

-19,636

-18,009

-22,879

-27,462

-41,986

-20,232

-1,029

CASH FLOWS FROM FINANCING ACTIVITIES
Changes in reserves for capital improvements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-8,537

-1

-152

-1

-5,570

684

-78

-50

Proceeds from exercise of stock options

73

298

28

21

17

91

0

119

100

0

142

504

4,174

47

57

177

1,009

222

504

218

449

799

1,148

193

214

295

105

394

131

690

79

387

408

-

-

-

-

-

Offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

17

25,182

Redemption of operating partnership units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125,513

Proceeds from revolving credit facility

107,500

111,048

87,000

111,250

88,000

69,000

61,536

55,500

67,000

167,000

32,000

37,000

38,000

99,250

98,750

40,750

60,750

32,000

17,250

22,500

15,250

16,250

28,500

16,750

26,750

66,250

35,000

21,000

52,000

15,000

8,000

14,500

35,250

-

-

-

-

-

Payments on revolving credit facility

14,500

110,799

92,000

335,000

8,500

12,000

19,000

160,036

20,000

16,500

13,000

260,000

9,000

0

4,000

151,750

92,000

-

-

-

-

3,000

0

0

41,000

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from unsecured debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

150,000

100,000

-

-

-

-

0

0

0

100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from mortgage loans payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60,000

Repayments of mortgage loans payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

58,250

375

375

375

375

31,881

68

83

25,082

-

-

-

-

152,600

Payments of loan fees and costs

191

-

-

-

-

-

-

-

-

-

-

-

-

0

172

1,774

1,035

-

-

-

-

-

-

-

-

-

-

359

2,258

384

13

-3

109

1,731

0

8

6

3,440

Reduction in contribution receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,703

Contributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-997

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends and distributions

60,008

58,575

58,652

52,790

53,884

49,269

49,584

46,586

47,599

46,330

44,998

40,188

40,968

27,123

27,115

27,233

27,336

21,846

21,765

21,860

21,949

18,468

18,347

18,418

18,539

14,654

14,559

15,367

12,518

-

-

-

8,272

5,941

5,960

5,944

5,940

-

Net cash provided by (used in) financing activities

32,874

37,979

11,337

46,176

25,633

7,770

-7,197

-5,840

-499

-10,830

-25,856

9,906

-7,794

72,174

67,520

10,170

41,388

10,376

-16,795

-6,179

-6,250

-4,542

9,867

-1,478

8,178

51,516

20,140

5,293

36,980

8,213

-302

6,550

2,195

3,723

-6,029

-19,996

-5,963

66,928

Net change in cash and cash equivalents

259

-1,655

1,867

542

-305

-2,707

2,472

-245

-2,168

565

-17,652

19,948

-2,043

-1,867

4,053

-957

-3,654

-2,623

1,935

-4,516

1,396

1,394

-1,864

979

4,840

4,611

-2,101

-5,684

357

-5,291

7,895

1,528

-2,630

-3,576

-21,120

-41,886

-13,036

76,986

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest, net of capitalized amounts

14,670

9,437

4,875

10,461

6,350

11,370

5,790

11,065

4,354

9,942

3,039

5,969

3,302

5,616

1,849

2,315

1,748

1,718

1,884

1,514

1,103

1,114

1,148

1,054

756

794

517

526

207

186

1,118

1,493

1,481

7,329

-860

-3,209

1,100

1,278

Cash paid for operating lease liabilities

6,626

6,625

6,422

6,088

6,071

3,878

7,488

3,833

6,795

5,323

5,170

5,139

5,132

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH INVESTING AND FINANCING ACTIVITY
Construction costs payable capitalized to real estate

46,739

-1,188

-961

802

66,123

3,512

10,948

4,807

22,061

14,925

13,224

-5,382

9,461

-17,243

-32,175

44,292

33,931

18,090

33,382

2,980

-17,419

29,228

13,614

-11,735

-14,965

12,470

-19,583

-273

-12,435

1,371

-5,511

-2,539

-3,841

3,308

-946

-18,913

10,987

-2,890

Contribution of the CoreSite Acquired Properties for Operating Partnership units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

316,836

NON-CASH OPERATING ACTIVITY
Lease liabilities arising from obtaining right-of-use assets

7,646

-

-

-

-

-

-

-

-

0

0

0

8,330

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-124