Education realty trust, inc. (EDR)
CashFlow / TTM
Jun'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
Education Realty Operating Partnership L.P.
Operating activities:
Net income

127,205

70,673

46,237

35,527

32,251

44,041

44,704

45,407

44,443

29,740

20,082

27,655

53,959

42,337

47,654

26,997

1,082

13,617

4,631

7,663

12,514

10,001

8,637

-1,941

-8,867

-9,527

-10,775

0

0

0

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

91,528

92,169

95,501

95,270

95,157

89,736

81,413

77,368

72,860

69,672

68,022

65,651

62,510

61,057

58,974

57,479

54,178

51,282

48,098

43,007

39,888

35,967

33,240

28,418

25,526

24,990

23,858

0

0

0

Depreciation included in discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,767

3,221

3,715

4,376

4,634

6,590

7,201

6,218

5,697

0

0

0

Deferred tax expense

881

1,269

1,928

947

1,363

1,010

285

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-197

0

0

0

Excess tax benefit related to the vesting of restricted stock

0

0

1,610

1,610

1,610

1,610

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of assets

-792

-433

-317

-296

-95

-108

-115

-129

-80

-67

-60

0

0

0

-

-

-

-

-12

-41

-104

-107

-99

0

0

0

-

-

-

-

Gain on sale of collegiate housing properties

42,337

22,049

691

691

691

12,083

23,956

26,726

26,726

14,643

2,770

13,909

22,329

22,329

33,231

19,340

10,920

14,815

3,913

0

0

0

-

-

-

-

2,388

0

0

0

Noncash rent expense related to the straight-line adjustment for long-term ground leases

4,687

4,691

4,696

4,701

4,707

4,719

4,731

4,742

4,754

4,768

4,782

4,797

4,811

4,824

4,835

4,865

4,873

5,374

5,255

5,180

5,025

4,396

4,364

4,259

4,248

4,216

4,208

0

0

0

Loss on impairment of collegiate housing properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,733

17,735

16,781

6,911

5,001

0

0

0

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

0

0

-22

-22

-497

-713

-10,611

-11,014

-10,539

-10,323

-403

-2,651

-2,894

-2,894

-3,543

-892

-649

-649

0

0

0

0

-

-

-

-

-351

0

0

0

Amortization of deferred financing costs

1,508

1,516

1,574

1,536

1,573

1,672

1,731

1,942

2,019

2,053

2,089

2,150

2,146

2,169

2,156

2,023

1,945

1,841

1,758

1,572

1,422

1,287

1,215

1,208

1,252

1,261

1,197

0

0

0

Loss on interest rate cap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5

0

0

0

Amortization of unamortized debt premiums

-

-

-

-

-

-

-49

-260

-473

-685

-843

-840

-833

-820

-806

-793

-783

-779

-776

-570

-362

-155

-80

-187

-298

-407

-390

0

0

0

Distributions of earnings from unconsolidated entities

6,306

3,939

3,515

3,106

532

600

423

16

89

-44

0

278

163

129

97

64

46

46

71

108

146

183

195

-88

167

243

264

0

0

0

Noncash compensation expense related to stock-based incentive awards

3,803

3,562

3,789

3,658

3,770

4,009

3,898

3,760

3,516

2,970

2,814

2,506

2,522

2,304

2,249

2,224

2,057

2,191

2,127

2,453

2,347

2,313

2,041

1,615

1,559

1,422

1,502

0

0

0

Equity in earnings of unconsolidated entities

6,382

-378

-65

430

193

171

-328

-462

-409

-718

-668

-1,163

-972

-882

-710

-471

-296

-205

-203

-125

-103

-120

-363

-379

-730

-715

-447

0

0

0

Noncash adjustment of contingent consideration liability

-

0

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in operating assets and liabilities

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Net cash provided by operating activities (net of acquisitions)

148,805

136,791

151,444

153,891

141,706

140,696

132,631

132,142

113,255

107,478

98,757

84,178

98,206

100,867

89,221

85,111

76,646

74,731

77,407

80,868

67,575

60,759

51,394

42,259

40,293

39,862

34,037

0

0

0

Investing activities:
Property acquisitions

0

0

127,647

127,647

184,423

370,715

267,425

267,425

259,158

82,233

57,876

0

0

0

-

-

-

-

-

-

-

-

239,065

152,334

140,464

156,411

156,463

0

0

0

Purchase of corporate assets

1,681

1,930

1,744

1,669

1,721

1,331

1,278

1,221

1,058

926

920

11,446

11,488

11,515

11,477

923

743

900

787

1,021

1,947

2,409

3,106

0

0

0

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

0

0

919

-

-3,040

-981

-20,012

-1,911

2,930

5,989

22,130

5,843

4,557

2,638

1,892

1,584

1,395

1,882

2,107

35

0

0

0

Insurance proceeds received on property losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,129

7,865

7,274

7,829

16,860

10,024

15,578

14,359

3,900

0

0

0

-

-

-

-

Investment in collegiate housing properties

16,886

16,594

15,943

16,667

16,594

21,167

22,827

22,286

21,115

16,033

14,396

12,991

13,775

16,129

16,150

19,410

19,249

18,016

17,183

22,606

22,500

21,810

22,599

15,158

18,878

22,769

22,129

0

0

0

Proceeds from sale of collegiate housing properties

125,076

96,286

17,738

17,738

17,738

40,844

94,951

107,284

107,284

66,440

12,333

64,117

93,110

93,110

133,117

89,043

60,050

80,263

40,256

0

0

0

-

-

-

-

73,821

0

0

0

Notes receivable

-

-

-

-

-

-

-

-

-

-

1,792

2,069

2,257

1,842

250

250

375

250

125

0

0

0

-

-

-

-

-

-

-

-

Collections on notes receivable

-

-

-

-

-

-

-

0

0

1,667

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

75

0

0

0

Earnest money deposits

-510

-495

15

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in assets under development

542,480

484,916

459,023

430,844

393,112

364,290

331,907

259,782

227,435

205,623

184,429

182,614

195,456

214,782

222,296

215,582

211,777

204,672

215,409

232,963

215,407

191,888

157,840

116,520

99,770

72,890

46,966

0

0

0

Reimbursement of development related costs

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from unconsolidated entities

100

100

178

153

128

248

266

1,158

1,158

1,705

1,584

0

0

0

-

-

-

-

-

-

-

-

82

0

0

0

-

-

-

-

Loans to developments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,128

0

0

0

Earnest money deposits

-

-

-

-

-

-

-

-

-

635

-

585

1,327

340

250

-100

0

110

125

2,175

3,375

3,125

3,000

0

0

0

-

-

-

-

Investments in unconsolidated entities

-

-

-

-

-

-

-

-

-

-

580

1,350

3,431

7,251

9,117

8,896

11,237

10,043

9,475

20,718

16,112

13,148

11,797

0

0

0

-

-

-

-

Net cash used in investing activities

-408,314

-385,703

-572,259

-560,137

-580,226

-717,952

-527,465

-438,106

-393,828

-236,579

-246,176

-200,272

-255,673

-251,428

-235,775

-283,451

-288,528

-274,511

-298,313

-483,336

-378,083

-369,932

-368,948

-225,972

-244,008

-214,992

-159,813

0

0

0

Financing activities:
Payment of mortgage and construction loans

119,078

29,771

62,721

33,125

82,581

118,428

183,862

224,067

175,399

172,577

108,179

162,181

187,183

187,406

190,102

142,257

165,536

133,433

97,931

52,362

4,210

45,314

79,185

114,157

114,173

72,843

58,225

0

0

0

Borrowings under mortgage and construction loans

129,400

0

146

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under construction loans

-

-

-

-

-

-

-

-

-

62,391

-

59,989

51,533

29,480

17,865

12,040

58,876

70,882

90,123

0

0

0

-

-

-

-

-

-

-

-

Borrowings on unsecured term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

187,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

5,902

3,762

775

237

470

507

69

809

1,002

974

958

4,992

4,809

4,918

6,419

4,050

3,892

3,919

4,578

3,512

3,344

3,199

1,026

0

0

0

-

-

-

-

Debt refund (issuance) costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Borrowings under unsecured term loan facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

Debt extinguishment costs

-

-

-

-

-

-

10,290

10,693

10,693

10,693

403

2,361

2,451

2,451

2,807

446

356

356

0

0

0

0

-

-

-

-

562

0

0

0

Borrowings on line of credit

432,000

437,000

602,000

0

0

0

-

-

-

-

199,000

235,000

327,000

364,000

380,000

432,000

421,400

343,400

302,033

310,033

160,633

163,633

141,000

0

0

0

-

-

-

-

Repayments of line of credit

497,000

305,000

273,000

0

0

0

-

-

-

-

-

-

-

-

712,900

490,900

465,900

220,133

24,133

41,133

80,133

67,000

62,000

45,000

0

0

3,700

0

0

0

Proceeds from issuance of common units in exchange for contributions

-

-

-

-

-

-

625,242

911,608

853,844

573,289

297,247

29,004

60,323

300,153

289,584

271,556

240,055

9,306

16,890

16,836

201,369

207,159

220,441

356,932

208,872

193,943

265,318

0

0

0

Payment of offering costs

70

335

405

471

657

659

896

1,116

1,046

849

571

573

912

881

866

553

163

154

238

412

700

688

805

1,103

768

752

1,007

0

0

0

Purchase and return of equity to noncontrolling interests

-

-

-

-

-

-

19,656

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase and return of equity to noncontrolling interests

-

-

-

-

-

-

-

-

-

7,025

-

0

8,837

9,596

10,138

10,138

8,481

8,206

7,664

0

0

0

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

4,639

7,658

14,789

31,374

31,067

30,685

27,125

13,151

10,968

7,425

5,547

2,961

3,921

3,923

2,230

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividends and distributions paid to common and restricted stockholders

117,166

115,533

113,761

111,980

111,327

107,844

103,419

93,547

83,670

76,605

70,512

69,701

68,551

63,796

59,149

54,680

50,563

49,314

48,010

46,610

43,612

38,842

33,959

28,162

23,602

20,578

17,722

0

0

0

Dividends and distributions paid to noncontrolling interests

22,744

1,671

1,136

812

639

433

546

812

1,071

1,316

1,231

1,092

1,282

1,011

1,011

915

495

460

449

515

413

490

532

429

684

592

502

0

0

0

Return of equity to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Contributions from noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Repurchases of common stock for payments of restricted stock tax withholding

0

0

2,563

2,563

2,563

2,563

315

315

315

315

213

213

365

365

921

935

783

2,069

1,300

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by financing activities

236,281

233,669

407,657

336,276

239,903

414,260

393,621

406,723

493,335

300,751

162,218

111,841

163,387

165,232

142,866

200,427

212,080

194,241

225,940

291,180

313,058

302,376

258,780

263,994

140,840

120,826

194,631

0

0

0

Net change in cash and cash equivalents and restricted cash

-23,228

-15,243

-13,158

-69,970

-198,617

-162,996

-1,213

100,759

212,762

171,650

14,799

-4,253

5,920

14,671

-3,688

2,087

198

-5,539

5,034

-111,288

2,550

-6,797

-58,774

80,281

-62,875

-54,304

68,855

0

0

0

Supplemental disclosure of cash flow information:
Interest paid, net of amounts capitalized

16,933

17,636

14,110

7,639

7,618

8,409

10,694

20,008

26,154

24,713

25,715

16,170

15,443

17,358

20,548

25,972

25,525

24,227

23,060

21,626

19,834

18,636

18,402

18,628

19,337

19,626

19,526

0

0

0

Income taxes paid

446

317

318

333

346

291

293

279

215

76

73

0

0

0

-

-

-

-

542

403

333

225

76

150

206

309

339

0

0

0

Supplemental disclosure of noncash activities:
Redemption of redeemable noncontrolling interests from unit holder to shares of common stock

1,897

1,897

2,004

2,236

2,236

2,236

2,036

1,726

1,726

1,726

1,748

960

960

960

0

0

0

0

-

-

-

-

606

0

0

0

-

-

-

-

Stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Capital expenditures in accounts payable and accrued expenses related to developments

77,844

108,404

77,384

81,164

71,971

60,284

39,125

30,876

37,306

22,345

22,225

32,259

25,062

27,972

18,558

12,543

15,739

17,165

15,425

0

0

0

-

-

-

-

-

-

-

-

Change in operating assets and liabilities

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-