Equity commonwealth (EQC)
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'10Sep'10Jun'10Mar'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

425,507

15,996

23,896

242,377

210,597

15,422

32,777

37,047

187,662

-21,569

33,224

-5,811

23,822

12,260

86,388

87,844

46,402

43,145

30,466

12,616

13,630

-158,561

156,740

5,385

20,448

-5,301

-216,207

28,917

35,624

-147,270

22,265

20,586

24,574

14,873

28,535

19,964

46,612

22,304

65,810

9,998

37,297

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

4,382

5,174

5,077

6,128

7,403

9,242

9,404

10,461

11,279

14,991

16,941

19,344

21,893

23,567

23,329

27,217

28,582

28,649

30,865

39,956

46,418

43,505

42,059

42,830

37,682

37,996

44,351

48,657

47,349

51,084

46,359

46,237

44,443

43,120

42,602

39,265

41,457

63,044

38,258

39,562

39,755

Net amortization of debt discounts, premiums and deferred financing fees

-56

-60

-55

154

165

548

559

645

801

789

784

849

713

845

948

949

983

1,005

171

-177

29

151

-91

-303

-309

-240

-592

284

629

653

1,001

1,005

746

1,476

1,515

1,920

2,032

1,890

1,839

1,874

1,931

Straight line rental income

-198

69

-499

11

837

986

1,435

1,022

1,528

1,938

3,557

4,543

4,387

1,699

2,954

5,599

3,831

1,743

1,901

1,798

-187

2,361

3,197

1,224

5,977

5,173

6,258

8,836

10,962

10,146

10,675

9,899

8,092

7,651

7,806

8,636

7,381

-

-

-

-

Amortization of acquired real estate leases

0

0

53

52

53

172

453

565

997

1,921

2,118

2,415

2,540

2,840

3,455

10,205

4,629

5,891

7,973

10,109

10,304

11,709

11,625

15,827

11,979

12,924

13,290

16,157

16,903

16,022

14,732

15,011

14,411

14,787

13,509

10,572

9,573

10,612

8,334

7,632

7,454

Other amortization

732

863

771

1,341

1,034

1,293

1,329

1,877

1,628

2,019

2,363

2,552

3,055

3,294

3,282

3,776

4,161

4,085

4,442

5,436

7,346

5,750

5,602

5,348

4,231

4,123

4,921

5,006

4,800

5,345

4,795

5,022

4,793

4,558

4,092

3,864

4,230

4,108

3,893

4,138

4,185

Amortization of right-of-use asset

189

187

185

183

181

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

3,303

3,370

3,408

3,721

3,927

4,020

5,197

5,142

5,338

5,107

5,575

5,506

5,226

4,659

4,894

4,624

4,353

3,660

3,655

4,152

3,958

2,591

-212

0

3,354

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on asset impairment

-

-

-

-

-

13

0

0

12,087

-14

0

18,428

1,286

14,740

0

43,736

0

0

0

15,258

1,904

207,465

122

-24,755

4,473

452,737

-217,080

-4,589

-3,946

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-719

0

-1,536

-4,867

-227

-203

-63

0

-2,562

0

0

-118

550

-3,887

10,426

-428

-1,790

6,699

-3,345

0

-1,036

0

0

-60,027

0

-220

-1,608

-67

-

-

-

-

-

-

-

-

Loss on sale of marketable securities

-

-

-

-

-

0

0

0

-4,987

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on sale of properties

419,620

24

1,945

227,166

193,037

-1,608

20,877

26,937

205,211

-29,172

25,080

3,136

16,454

25,676

82,169

106,375

36,666

41,468

39,793

-2,708

5,868

0

0

0

0

-25,521

0

2,099

2,856

-

-

-

-

1,179

7,001

0

34,572

-

-

-

-

Equity in earnings of investees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,072

12,454

10,934

10,841

10,492

159

4,262

2,765

2,868

2,829

2,958

2,987

2,768

2,910

2,712

1,821

1,999

2,305

2,339

Gain on sale of equity investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

66,293

-

-

-

-

-

-

-

-

-

-

-

-

Gain on issuance of shares by an equity investee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

16,911

109

-

-

-

-

-

-

-

-

-

-

-

-

0

18,390

0

16,418

Distributions of earnings from investees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,560

10,120

10,120

9,680

0

4,111

2,605

2,638

2,679

2,913

2,959

2,740

2,864

2,675

1,805

1,964

716

3,980

Foreign currency exchange loss

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-5

96

-9,809

856

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-12,646

7,906

7,142

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,004

3,657

458

-

3,358

5,283

-2,366

2,148

-4,993

4,721

-5,362

3,981

-1,183

2,134

-3,100

2,527

-650

3,557

782

-2,233

4,993

-421

448

-772

-6,620

1,984

-1,172

Rents receivable and other assets

733

2,027

3,036

1,221

6,815

137

2,893

5,446

11,410

2,946

860

1,663

18,239

3,447

6,747

-1,759

15,486

865

26,178

-8,249

28,678

2,199

8,730

1,606

18,250

-1,666

36,256

1,246

21,203

-7,989

28,847

-5,227

23,170

-1,787

24,742

-20,220

28,627

-14,001

25,831

-13,660

24,410

Accounts payable, accrued expenses and other

-1,128

1,847

4,021

-3,149

-8,030

5,819

1,991

1,568

-10,082

9,358

-8,273

13,584

-24,053

10,230

-3,333

4,391

-6,361

1,126

-4,922

10,287

-11,134

-9,437

27,659

4,712

-12,545

-25,449

26,853

12,032

-27,769

15,174

-11,569

23,059

-20,630

10,223

-2,598

15,579

-10,615

14,080

-11,233

10,202

-9,920

Rent collected in advance

-996

-406

-21

-312

-1,871

1,269

-1,955

-1,185

-1,786

47

-4,776

750

416

-3,069

-2,261

1,604

-3,255

-2,350

2,427

-7,919

-620

5,170

-3,060

-1,214

-1,125

-1,820

9,675

-5,782

-1,948

10,671

-6,282

-1,712

-3,781

1,812

4,065

2,373

229

-3,249

1,948

-3,476

3,577

Security deposits

-

-

-

-

-

-

-

-

-

-

-

-

181

-

10

416

-192

-73

701

546

51

396

-204

37

204

84

405

164

-42

1,133

-298

468

245

-139

1,300

553

219

778

818

-788

-89

Due to related persons

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-9,324

220

-173

2,819

-4,674

-1,681

1,678

-18,983

17,277

997

2,372

-17,195

15,649

129

2,493

-16,610

16,506

-1,192

1,979

Net cash provided by operating activities

11,778

24,851

32,853

28,471

12,770

38,989

26,667

24,251

-371

37,178

18,662

48,157

-4,001

46,991

22,838

70,890

22,984

46,691

18,244

82,858

40,321

63,661

31,567

82,525

46,627

44,991

52,959

93,869

42,832

90,371

47,709

103,552

35,151

70,130

61,859

106,178

25,165

53,695

62,181

88,024

48,154

CASH FLOWS FROM INVESTING ACTIVITIES:
Real estate acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-60

-10,680

15,792

149,318

241,743

135,826

162,175

91,535

18,073

250,497

203,571

295,919

488,566

201,540

190,878

14,565

Real estate improvements

1,540

4,636

3,343

3,733

14,340

8,212

9,515

19,442

12,761

13,113

13,715

18,096

19,889

29,344

31,817

34,326

25,963

27,237

14,773

16,460

12,163

17,716

21,498

21,980

38,457

34,212

26,331

26,944

26,964

45,223

35,441

24,206

26,430

33,796

25,279

26,761

14,503

-

-

-

-

Insurance proceeds received

-

-

-

-

-

0

0

0

1,443

0

0

2,000

2,000

500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in direct financing lease, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

38,635

-

-

-

-

Principal payments received from direct financing lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,635

1,928

1,906

1,883

1,860

1,839

1,817

1,795

1,774

1,752

1,733

1,711

1,691

1,671

1,651

1,632

1,613

1,593

1,574

476

-

-

-

-

Principal payments received from real estate mortgages receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

7,974

139

70

-

-

-

-

Proceeds from sale of properties, net

572,599

0

0

344,408

427,379

6,745

147,012

62,998

744,324

103,035

513,989

91,162

94,138

115,068

645,629

270,383

118,391

463,225

463,587

942,162

19,841

0

120

185,179

0

187,277

3,836

31,700

2,163

-

-

-

-

1,114

165,808

0

97,362

-

-

-

-

Purchase of marketable securities

-

-

-

-

-

-

-

-

-

0

0

0

276,238

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of marketable securities

-

-

-

-

-

0

0

5,320

18,613

0

0

0

0

-

-

-

-

0

0

0

27,068

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturity of marketable securities

0

0

0

0

250,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of equity investments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

239,576

-

-

-

-

-

-

-

-

-

-

-

-

Distributions in excess of earnings from investees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

168

1,674

1,541

1,500

1,266

1,220

1,439

1,315

1,405

-

-

-

-

Investment in Affiliates Insurance Company

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

31

24

20

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

974

-6,070

3,487

-

925

-1,145

3,458

3,429

1,135

3,520

141

6,094

659

1,152

1,197

468

-48

-6,423

8,544

-

-

-

-

-

-

-

-

Net cash provided by investing activities

571,059

-4,636

-3,343

340,675

663,039

-1,467

143,096

48,876

751,619

90,235

500,274

75,066

-199,989

81,813

612,838

242,127

88,941

440,861

449,817

928,753

33,171

-43,273

684,042

167,272

-36,803

148,805

-22,008

-10,455

66,139

-284,069

-158,702

-181,804

-123,611

-47,922

-98,962

-227,304

-249,744

-189,466

-2,160

-147,244

-14,585

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common shares, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-182

626,991

182,843

0

-140

180,954

-

-

-

-

0

191,683

0

239,095

Repurchase and retirement of common shares

26,881

0

0

145

5,342

4,066

0

0

89,910

2,979

0

0

209

44,424

0

0

25,563

0

87,983

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase and retirement of outstanding debt securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

728,021

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

100,000

15,000

921,000

334,000

924,000

106,000

338,500

257,000

265,000

190,000

295,000

680,000

957,632

135,000

56,000

Payments on borrowings

148

145

140

255,414

143

5,668

266

400,261

175,265

2,581

250,348

41,776

348

418,596

842

827

139,922

327,095

960

140,319

1,589

234,142

535,176

1,932

14,066

101,174

2,051

20,072

942,135

257,301

660,431

26,168

369,082

236,126

284,308

260,278

194,318

301,074

1,011,225

137,353

168,449

Deferred financing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

52

0

0

0

7,143

0

0

0

0

0

4

7

1,193

383

8,685

282

5,767

-

-

-

-

3,490

9,366

12

187

Contributions from holders of noncontrolling interest

-

-

-

-

-

-

-

-

-

0

0

1

30

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to common shareholders

1,936

427,489

0

0

1,160

304,612

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

29,597

29,596

29,579

29,576

20,951

20,951

41,866

41,861

41,861

41,861

36,074

36,069

36,070

36,069

32,298

31,007

26,863

Distributions to preferred shareholders

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

1,997

6,981

6,981

6,981

6,981

6,981

6,981

6,981

13,963

0

11,151

11,151

11,151

11,151

11,151

11,152

14,092

13,823

13,643

13,823

12,903

8,840

8,839

11,655

12,667

12,667

12,667

Distributions to holders of noncontrolling interest

997

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,604

7,259

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-31,959

-429,801

-2,137

-257,556

-8,642

-316,457

-2,263

-402,257

-267,172

-7,557

-252,345

-43,772

-2,524

-465,017

-2,839

-282,808

-172,518

-334,076

-95,924

-147,300

-15,713

-241,123

-549,139

-1,932

-54,814

-141,921

57,215

-53,592

-162,719

223,178

44,418

23,726

89,101

-41,088

194,778

150,344

55,773

152,712

81,259

-46,039

86,929

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-8

79

-9,877

855

-559

-1,028

-855

100

657

-833

304

-994

221

59

450

-256

183

970

-2,037

428

155

-

-

-

-

Increase in cash, cash equivalents, and restricted cash

550,878

-409,586

27,373

111,590

667,167

-278,935

167,500

-329,130

484,076

119,856

266,591

79,451

-206,514

-336,213

632,837

30,209

-60,601

153,555

362,260

865,166

57,220

-221,763

165,615

247,965

-44,333

51,042

88,470

28,828

-53,527

29,539

-66,125

-54,782

824

-17,910

155,638

29,646

-168,651

19,317

141,280

-105,259

120,498

SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid

366

368

373

4,577

7,714

1,218

8,195

3,073

14,631

6,388

21,992

6,131

22,285

15,937

24,352

16,479

28,542

17,726

31,504

28,615

33,479

27,317

41,828

33,892

43,228

35,169

47,733

37,740

71,368

38,898

66,647

32,256

66,971

35,515

60,226

32,727

58,306

30,910

53,577

34,363

54,371

Taxes refunded, net

2,045

-

-

-

2

-

-

-

2

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH INVESTING ACTIVITIES:
Real estate acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

613,351

-66,328

-29,012

-147,872

0

-260,941

-56,235

-4,059

-

-

-

-

Investment in real estate mortgage receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,376

0

0

-7,688

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid, net

-

-

-

-

-

-

-

-

-

180

1

394

335

224

0

175

-72

175

2,765

837

2,251

0

0

411

2,321

106

63

627

507

211

32

502

34

563

22

221

160

147

-43

422

164

Recognition of right-of-use asset and lease liability

0

0

0

0

1,503

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Decrease) increase in accrued capital expenditures

1,071

-778

-1,831

1,085

2,907

4,803

4,198

4,436

103

11,044

-1,420

-6,722

4,266

-13,522

2,463

7,040

-6,312

-3,775

-10,276

-616

1,139

-8,067

2,389

2,741

10,627

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH FINANCING ACTIVITIES:
Assumption of mortgage notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

116,001

66,328

29,012

147,872

-

-

-

-

-

-

-

-

Assumption of note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,059

-

-

-

-