Empire state realty trust, inc. (ESRT)
CashFlow / TTM
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'13
Cash Flows From Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

82,722

84,290

95,351

97,797

109,051

117,253

109,732

115,991

117,166

118,253

119,001

116,409

109,690

107,250

93,612

86,800

88,745

79,928

71,522

68,171

66,867

70,210

252,677

0

0

0

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

181,583

181,588

181,861

180,076

174,723

168,508

162,668

158,683

159,747

160,710

159,697

158,814

156,830

155,211

160,640

168,202

169,283

171,474

175,015

167,726

156,734

145,431

124,007

0

0

0

Amortization of non-cash items within interest expense

6,306

7,328

7,473

8,293

8,296

7,215

5,262

3,621

1,807

1,039

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and debt premiums and discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

698

-

3,023

4,394

4,642

3,956

2,711

0

0

0

Amortization of above and below Market Leases

-5,800

-7,300

-7,500

-7,500

-7,300

-6,100

-5,946

-5,852

-5,472

-5,700

-6,669

-6,273

-5,997

-8,800

-10,976

-14,561

-18,293

-19,353

-20,277

-20,050

-17,501

-14,095

-10,391

0

0

0

Amortization of acquired below-market ground leases

7,831

7,831

7,831

7,831

7,831

7,831

7,831

7,831

7,831

7,831

7,831

7,831

7,832

7,831

7,996

7,996

7,995

7,996

7,874

7,667

6,135

4,603

3,028

0

0

0

Straight-lining of rental revenue

22,846

20,057

19,226

19,052

21,658

22,107

22,616

24,810

26,466

26,544

29,242

31,667

30,997

30,147

27,550

23,372

22,199

21,220

22,778

25,880

31,237

39,715

41,034

0

0

0

Equity based compensation

21,329

20,857

20,113

21,319

19,649

18,785

17,356

16,344

15,501

14,100

13,283

12,050

10,786

9,729

8,478

7,205

5,886

5,483

5,071

4,675

4,389

3,720

5,902

0

0

0

Gain (Loss) on Extinguishment of Debt

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized loss from derivative financial instruments

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

Gain on consolidation of non-controlled entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Equity in net income of non-controlled entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Distributions of cumulative earnings of non-controlled entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Deemed contribution for settlement expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Increase (decrease) in cash flows due to changes in operating assets and liabilities:
Security deposits

-26,017

-27,243

-10,678

-10,425

13,111

10,717

-4,876

-6,862

-3,749

-97

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-806

-6,131

-1,249

-2,954

-4,970

5,632

-969

4,987

-2,507

0

0

0

Tenant and other receivables

496

-4,015

-2,050

9,703

-3,121

1,275

-3,156

-2,266

4,761

5,787

15,091

9,473

5,751

3,760

-12,836

-1,910

2,069

-4,963

3,051

-11,516

-18,651

-3,135

10,065

0

0

0

Deferred leasing costs

31,743

30,895

22,834

27,442

22,797

26,899

28,661

29,326

31,382

31,743

25,640

24,860

24,020

22,622

23,476

20,050

21,306

31,367

29,616

29,756

27,156

12,132

17,965

0

0

0

Prepaid expenses and other assets

2,820

3,643

1,206

2,139

2,473

781

1,257

4,053

22

7,893

6,392

7,344

5,975

3,289

-74

37

-808

1,956

2,668

8,154

7,135

13,052

10,759

0

0

0

Accounts payable and accrued expenses

358

427

204

254

977

1,993

-17,367

-16,885

-21,138

-25,103

1,245

-731

1,213

2,939

-5,790

-8,505

-3,032

-2,674

-5,890

-5,091

-11,658

-14,756

-1,056

0

0

0

Deferred revenue and other liabilities

20,837

27,206

36,566

19,305

5,839

3,902

-9,145

2,172

6,402

8,695

17,145

4,361

4,295

824

-13,891

4,306

5,831

3,512

13,336

-77

-1,671

6,240

-7,292

0

0

0

Net cash provided by operating activities

219,463

232,591

289,992

258,615

288,364

279,022

206,769

211,545

201,833

194,202

227,523

215,047

216,145

214,755

205,648

218,156

215,345

203,187

196,531

169,509

162,029

138,558

-30,293

0

0

0

Cash Flows From Investing Activities
Short-term investments

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Development costs

813

2

0

0

0

-

-

-

-

34

30

30

46

453

469

616

599

512

508

873

873

527

512

0

0

0

Decrease (increase) in restricted cash for investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,111

-5,664

-4,934

119

-3,511

-3,541

-4,275

-9,345

-4,818

0

0

0

Additions to building and improvements

228,890

250,254

263,066

275,103

260,073

243,022

235,022

217,932

220,051

222,979

219,101

206,881

200,211

181,923

158,251

158,275

142,720

141,685

142,439

132,948

128,868

121,287

139,117

0

0

0

Acquisition of real estate property, net of cash received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Cash paid in the formation transactions to acquire the non-controlled properties, net of cash received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash used in investing activities

120,297

149,744

136,932

-25,103

-610,074

-643,023

-635,030

-617,940

-220,059

-223,013

-219,689

-211,988

-205,338

-182,376

-157,609

-153,227

-138,385

-142,316

-139,436

-316,868

-312,054

-299,057

-884,928

0

0

0

Cash Flows From Financing Activities
Proceeds from mortgage notes payable

-

-

-

-

-

160,000

160,000

160,000

475,000

315,000

315,000

315,000

0

50,000

50,000

50,000

50,000

0

0

0

0

-

-

-

-

0

Repayment of mortgage notes payable

3,826

3,790

3,754

3,719

3,684

266,613

267,685

268,683

607,311

346,615

347,703

348,793

12,220

32,305

32,235

32,159

123,086

146,918

434,733

481,328

391,381

348,308

370,718

0

0

0

Proceeds from unsecured senior notes

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

350,000

350,000

600,000

600,000

250,000

250,000

0

0

0

Repayment of unsecured term loan

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from unsecured senior notes

-

-

-

-

-

-

0

0

335,000

-

0

0

0

-

-

-

-

655,000

615,000

615,000

495,000

0

0

0

0

0

Repayment of senior unsecured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

90,000

110,000

325,000

325,000

615,000

595,000

330,000

330,000

0

0

0

0

0

Proceeds from unsecured term loan

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from unsecured revolving credit facility

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common shares

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from unsecured revolving credit and term loan facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

435,600

630,600

0

0

0

Repayments of secured term loan and credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

470,000

495,600

750,600

750,600

290,600

275,000

0

0

0

Proceeds from unsecured loan payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Repayment of unsecured notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Deferred financing costs

3,610

0

3

78

159

1,980

3,090

10,693

15,075

13,299

12,287

6,148

1,765

3,006

2,877

3,912

3,828

6,100

7,419

8,037

8,041

4,483

18,573

0

0

0

Net proceeds from the sale of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Contributions from owners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Cash paid for equity interests in the formation transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Distributions to Predecessor owners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payments of Private Perpetual Preferred Units Distributions

2,600

1,700

900

900

900

900

898

932

866

900

900

900

900

900

936

904

936

936

937

976

710

476

241

0

0

0

Payments of Ordinary Dividends, Common Stock

75,700

75,200

74,480

73,299

72,193

70,900

69,475

68,474

67,525

66,800

66,164

65,677

61,976

55,812

49,618

43,368

40,095

39,183

38,053

36,415

34,876

33,598

32,202

0

0

0

Distributions paid to non-controlling interests in the operating partnership

50,252

50,826

51,579

52,664

53,587

54,749

57,337

58,032

58,674

59,238

59,724

60,076

60,530

58,206

55,742

53,321

51,038

51,781

52,883

54,487

54,207

53,647

51,841

0

0

0

Net cash provided by (used in) financing activities

401,428

-381,551

-380,706

-130,650

-125,784

104,617

216,237

207,942

175,490

-56,877

-171,886

404,576

473,779

470,941

499,870

-63,696

-68,983

-59,918

-63,625

139,789

141,785

145,488

851,179

0

0

0

Net increase in cash and cash equivalents and restricted cash

741,188

784

46,218

102,862

-447,494

-259,384

-212,024

-198,453

157,264

-85,688

-164,052

407,635

484,586

503,320

547,909

1,233

7,977

953

-6,530

-7,570

-8,240

-15,011

-64,042

0

0

0

Supplemental disclosures of cash flow information:
Cash paid for interest

72,646

76,333

76,736

76,567

77,939

74,160

69,590

67,116

64,827

66,911

69,694

70,779

69,226

69,062

68,789

67,896

67,975

64,808

67,700

63,809

62,552

60,621

54,874

0

0

0

Cash paid for income taxes

1,589

1,766

2,746

3,585

5,263

4,847

4,469

5,472

5,935

5,783

7,747

7,194

6,088

6,238

4,702

3,814

3,688

4,465

4,279

4,805

5,077

3,690

2,998

0

0

0

Non-cash investing and financing activities:
Building and improvements included in accounts payable and accrued expenses

86,618

90,910

69,878

63,690

93,633

85,242

92,145

95,845

78,163

71,769

67,306

79,479

88,640

66,620

75,730

67,097

49,376

51,315

0

0

0

-

-

0

0

0

Write-off of fully depreciated assets

38,783

30,977

34,122

31,739

36,869

39,665

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of operating partnership units and Class B shares to Class A shares

31,775

27,495

60,773

53,792

63,972

70,779

44,008

40,146

25,715

23,435

14,824

17,611

24,624

23,678

28,824

48,548

49,328

62,003

93,731

69,267

60,149

40,611

0

0

0

0

Issuance of Series 2019 private perpetual preferred in exchange for common shares

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right of use assets

0

29,452

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Ground lease liabilities

0

29,452

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of Class A Common Stock, Class B Common Stock, and operating partnership units in connection with the acquisition of real estate properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Debt assumed with the acquisition of real estate properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reduction of equity for deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Acquisition of working capital (deficit), net of cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Due to affiliates settled in Class A Common Stock, Class B Common Stock, or operating partnership units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Redemption of operating partnership units to repay other receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Accrued distributions to Predecessor owners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Distribution of real property to owners prior to the formation transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Distribution of unsecured loan and note payable - related party to owners prior to the formation transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0