EXTRA SPACE STORAGE INC. EXR Cash Flow

Extra space storage inc. (EXR)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
116,162	120,279	115,995	112,689	102,160	109,250	139,687	102,713	95,430	229,315	101,075	94,098	89,734	90,416	127,226	90,040	89,407	11,744	78,200	60,956	58,636	49,486	59,193	46,008	41,209	82,172	32,352	37,101	33,931	38,873	41,553	24,745	22,518	18,414	17,352	12,517	10,140	10,788	9,482	7,925	5,179
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
55,275	54,741	56,051	54,406	54,659	53,126	52,283	51,892	51,749	49,157	48,075	46,632	49,432	49,158	46,555	43,950	42,897	40,766	30,711	31,552	30,428	29,181	29,249	28,271	28,375	25,994	23,428	22,785	23,025	21,535	19,768	16,626	16,524	15,973	14,364	14,092	13,585	13,209	12,519	12,202	12,419
Amortization of deferred financing costs
2,830	3,077	2,906	2,972	3,034	5,056	3,166	3,043	3,021	3,043	3,163	2,980	3,103	3,534	3,771	2,794	2,823	2,903	1,548	1,730	1,598	1,637	1,719	1,595	1,641	1,799	1,163	1,525	1,510	873	1,646	1,124	2,246	1,863	1,487	1,131	1,102	1,031	976	1,097	1,250
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes
1,209	1,209	1,186	1,185	1,162	1,162	1,140	1,176	1,209	1,276	1,268	1,290	1,269	1,264	1,243	1,240	1,233	1,112	805	696	697	679	679	663	662	-	-	-	-	0	0	0	444	453	440	440	428	428	416	416	404
Non-cash lease expense
353	-	-	-	0	-	-	-	-	-	-	-	-	-44	-132	-342	-354	-363	-364	-935	-747	-729	-765	-690	-895	-211	-210	-208	-565	-319	-320	-315	-316	-	-	-	-	-	-	-	-
Compensation expense related to stock-based awards
2,980	3,064	3,035	3,998	2,954	2,721	2,613	3,116	2,726	2,317	2,289	2,965	1,990	2,037	1,915	2,383	1,710	1,670	1,590	1,653	1,142	1,129	1,056	1,678	1,121	1,165	1,069	1,562	1,023	1,038	997	1,364	957	1,862	1,184	1,585	1,126	1,123	1,055	1,483	919
Gain on real estate transactions and impairment of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-1,349	0	8,270	1,544	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate assets and purchase of joint venture partners' interests
-	-	-	-	-	-	-	-	-	-	-	-	-	4,767	37,509	0	26,923	0	0	0	2,857	-	-	-	-	43,476	0	0	2,556	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from unconsolidated real estate ventures in excess of earnings
-2,539	-1,606	-1,418	-1,602	-1,732	-1,632	-1,620	-2,114	-1,501	-1,069	-1,133	-1,242	-1,123	-463	-1,135	-938	-998	-511	-561	-858	-2,601	-521	-562	-2,403	-1,024	-1,300	-1,614	-770	-1,154	-939	-1,456	403	-589	-2,343	504	-3,856	-1,313	-1,892	-1,735	-1,744	-1,351
Changes in operating assets and liabilities:
Receivables from related parties and affiliated real estate joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	797	-4,598	2,878	-811	945	-1,065	2,367	-505	-357	-633	1,424	-386	4,670	-5,838	277	148	-5,046	561	-3,102	8,333	1,694	-844	-549	-4,248	4,004	-2,415	-352
Other assets
-2,490	1,329	13,043	-2,195	305	1,025	7,908	-8,006	737	-2,575	30,506	-12,305	-2,898	-14,445	14,873	-4,090	5,276	-18,850	17,061	324	2,637	1,965	3,306	-2,325	-1,448	-10,028	3,251	-897	-1,051	-3,880	-3,705	1,818	-2,979	-6,425	3,852	-1,850	-3,110	-486	2,097	-5,408	5,473
Accounts payable and accrued expenses
3,727	-13,788	7,678	15,214	6,418	-24,941	19,789	-2,546	10,434	-16,940	24,515	11,979	-30,069	-863	11,340	5,240	-5,642	-10,674	6,925	-2,175	6,032	-8,007	7,989	12,653	-7,715	2,353	11,266	1,547	-6,864	2,690	2,486	7,294	-5,250	4,156	7,179	-1,621	123	-203	3,252	-1,705	512
Other liabilities
1,691	-6,703	5,833	1,012	-2,475	1,787	7,702	-1,380	6,275	-5,258	9,568	-3,582	-6,359	-2,965	6,615	-2,457	-985	13,718	2,125	1,172	-5,087	6,856	-2,643	3,301	-874	-8,332	-715	3,505	-316	3,728	-2,498	3,775	-3,003	351	-492	497	-1,474	-2,917	3,325	-929	-898
Net cash provided by operating activities
189,256	163,220	181,059	194,068	169,339	148,768	189,285	168,134	171,608	147,746	160,580	175,928	113,121	153,104	146,489	144,204	95,466	81,048	102,994	95,848	87,439	81,017	88,805	103,187	64,572	72,675	72,033	75,435	51,116	62,918	60,340	51,831	40,790	43,507	35,464	35,191	30,002	30,085	28,659	30,056	16,015
Cash flows from investing activities:
Acquisition of real estate assets
30,164	62,380	38,306	36,256	212,552	99,377	88,858	162,031	76,122	534,145	46,389	33,515	39,136	323,277	327,948	200,478	234,820	86,493	22,512	163,810	77,082	175,303	31,315	42,981	253,939	-	-	-	-	-	-	-	-	-	26,332	78,260	3,811	44,940	8,188	13,498	2,962
Development and redevelopment of real estate assets
15,373	19,304	13,522	5,045	15,846	15,301	17,483	16,787	11,106	11,076	8,396	7,028	5,246	4,787	4,092	7,857	6,543	11,794	5,211	6,786	3,140	12,240	5,330	3,138	2,820	2,525	1,609	-16,422	18,754	-364,994	322,256	28,002	18,495	195,704	1,821	1,063	3,431	7,539	10,217	12,287	6,019
Proceeds from Sale of Other Real Estate
-	-	-	-	-	-	51,136	0	753	-	18,464	101	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	15,750
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,210	-16,771	1,265	-204,666	203,205	-9,926	10,105	-960	5,554	625	-1,425	-1,352	2,301	345	3,181	-6,408	-13,850	12,961	-1,495	-4,584	-2,348	-7,827	10,029	-2,721	-806	737	-6,246
Investment in unconsolidated real estate entities
6,441	164,098	2,317	13,949	17,395	12,694	18,054	34,314	438	14,923	351	1,151	1,519	2,551	6,381	14,515	4,794	-	-	-	-	-	-	-	-	390	171	366	589	370	351	346	356	351	332	328	3,077	328	312	8,002	1,057
Return of investment in unconsolidated real estate ventures
-	-	-	-	-	1,166	20	0	47,944	0	0	0	581	4,962	10,673	1,000	318	-	-	-	-	-	-	-	-	-	-	-	-	573	0	356	1,492	-	-	-	-	-	-	-	-
Issuance of notes receivable
7,500	23,316	10,078	152,599	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase/issuance of notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,874	0	10,656	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments received from notes receivable
-	-	-	-	-	0	0	16,054	9,172	0	0	0	44,869	1,392	0	41,393	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of equipment and fixtures
1,095	2,805	2,936	841	1,182	1,271	806	1,089	1,131	2,184	1,525	2,818	1,292	2,150	690	1,220	908	2,559	2,229	1,408	1,184	1,194	1,300	1,062	1,274	4,175	871	657	821	1,747	397	692	531	523	1,030	3,154	309	495	335	978	137
Net cash used in investing activities
-60,573	-265,253	84,052	-193,454	-246,975	-126,869	-87,934	-198,167	-30,928	-268,728	-38,197	-44,411	-1,743	-344,579	-298,318	-147,324	-258,668	-1,139,230	-233,645	-161,278	-91,511	-208,007	-43,499	-56,834	-256,608	-266,673	-33,237	-43,721	-23,345	-231,869	-309,154	-49,520	-16,395	-82,731	-73,553	-74,978	-20,657	-49,211	-10,814	-35,502	11,821
Cash flows from financing activities:
Proceeds from the sale of common stock, net of offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	1	50,054	-205	73,574	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from notes payable and revolving lines of credit
268,000	706,000	751,000	333,000	424,000	439,644	328,000	483,386	162,000	302,453	370,724	483,446	169,000	873,382	534,095	296,904	195,976	403,049	826,613	601,372	290,768	411,707	84,000	130,800	291,157	217,330	96,895	186,184	81,776	433,608	314,174	119,511	206,970	105,245	105,556	155,828	108,858	59,938	27,031	96,651	7,442
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	2,672	253	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on notes payable and revolving lines of credit
192,508	474,119	979,316	299,350	225,020	321,915	300,923	318,812	168,204	-	-	-	-	556,901	342,618	190,064	32,859	-	42,408	744,778	228,878	220,841	74,004	110,402	127,881	132,024	212,558	244,878	74,912	-	-	92,021	198,048	62,641	54,013	220,698	114,995	4,368	37,385	162,428	48,219
Principal payments on notes payable to trusts
0	0	0	0	30,928	67,012	21,650	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs
16	978	1,421	487	100	5,247	4,027	2,911	117	1,795	5,172	0	0	10,786	998	4,416	1,286	222,074	1,687	2,032	1,419	1,454	634	1,825	1,392	1,840	477	4,318	1,340	3,180	3,636	1,373	3,418	2,048	949	1,645	1,555	1,486	790	1,735	149
Repurchase of exchangeable senior notes
-	-	-	-	-	0	21,801	5	58,464	190	-666,717	498,527	187,916	3	0	2,553	19,639	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from exercise of stock options
944	233	603	470	1,757	-1	0	371	799	0	1,266	0	0	1,132	-1	300	13	118	322	132	970	378	166	1,495	1,056	20	324	3,917	1,635	1,336	2,793	3,694	2,444	6,508	1,609	1,947	8,558	560	1,396	3,218	487
Repurchase of common stock
52,204	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from termination of interest rate cap
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,650	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of Operating Partnership units held by noncontrolling interests
-	-	-	-	-	0	0	0	2,558	0	0	756	1,754	506	0	0	0	-	-	-	-	-	-	-	-	0	0	21	20	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from noncontrolling interests
-	-	-	-	-	0	2	0	120	201	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid on common stock
117,197	116,579	116,440	115,572	109,523	109,299	108,795	108,486	98,327	98,286	98,286	98,256	98,212	98,188	98,116	97,687	73,827	73,226	72,603	68,741	54,732	54,681	54,536	54,527	46,347	46,302	44,494	44,488	27,730	27,594	20,864	20,827	19,002	13,242	13,210	13,194	12,381	8,758	8,751	8,748	8,707
Distributions to noncontrolling interests
8,505	8,508	8,618	8,705	8,412	8,413	8,460	8,468	7,909	7,831	7,816	7,882	8,443	8,344	8,353	7,854	6,446	6,429	6,501	6,577	4,996	4,878	5,027	4,964	4,265	4,150	3,719	3,003	2,390	2,456	2,261	2,248	2,250	2,006	2,016	2,080	2,025	1,808	1,873	1,898	1,900
Net cash provided by (used in) financing activities
-101,486	106,051	-254,040	8,202	51,774	-15,792	-103,874	45,075	-172,660	126,017	-89,786	-124,647	-127,578	199,787	129,463	-5,575	137,156	18,449	1,070,290	196,019	1,713	125,437	-50,035	-39,423	112,328	239,022	-164,029	139,643	-22,981	156,128	106,920	145,616	-13,304	31,813	36,797	32,419	-13,540	44,078	-24,401	-74,940	-51,046
Net increase (decrease) in cash, cash equivalents, and restricted cash
27,197	4,018	11,071	8,816	-25,862	6,107	-2,523	15,042	-31,980	5,035	32,597	6,870	-16,200	8,312	-22,366	-8,695	-26,046	-1,039,733	939,639	130,589	-2,359	-1,553	-4,729	6,930	-79,708	45,024	-125,233	171,357	4,790	-12,823	-141,894	147,927	11,091	-7,411	-1,292	-7,368	-4,195	24,952	-6,556	-80,386	-23,210
Supplemental schedule of cash flow information
Interest paid
41,013	37,592	48,108	43,290	45,165	41,847	39,025	41,595	37,007	29,058	39,336	30,238	37,570	27,680	34,909	34,803	24,873	29,467	19,056	19,230	21,754	21,873	19,486	17,414	16,445	20,345	13,812	16,639	15,909	17,871	16,601	16,510	14,705	16,678	14,648	16,220	14,180	14,507	13,870	16,339	15,384
Income taxes paid
976	4,162	2,102	4,272	-177	-73	-1,033	1,344	492	-2,438	542	2,485	5,059	4,051	2,297	3,681	4,835	227	124	770	661	181	187	1,806	1,244	290	428	609	589	358	0	0	473	-	-	-	-	-	-	-	-
Supplemental schedule of noncash investing and financing activities:
Redemption of Operating Partnership units held by noncontrolling interests for common stock
Receivables from related parties and affiliated real estate joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,142
Notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,348
Other assets and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-51
Common stock and paid-in capital
330	3,799	1,125	4,823	3,310	382	572	383	0	-	-	-	-	-262	10	817	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,146	1,198	-	-	-	-
Establishment of operating lease right of use assets and lease liabilities
Establishment of operating lease right of use assets and lease liabilities
Real estate assets - operating lease right-of-use assets
0	127	52,413	129,511	95,506	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities
0	127	52,413	129,511	104,863	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
0	0	0	0	9,357	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	1,082	55	995	272	164	2,805	-1,886	644	730	204	1,417	1,262	-	-	-	-	-	-	-	-	281	-173	601	1,490	-	-	-	-
Additional paid-in capital
-	-	-	-	-	-	-	-	-	-	-	-	-	1,082	55	995	272	164	2,805	-1,886	644	730	5,562	-3,941	1,262	-	-	-	-	-	-	-	-	281	-173	601	1,490	-	-	-	-
Acquisitions of real estate assets
Real estate assets, net
0	-228,035	16,937	212,227	19,937	-293,923	74,694	237,284	70,787	-40,708	31,966	34,641	25,556	-	-	-	-	-	-	111,123	11,009	-	-	-	-	120,858	194,869	13,252	2,251	11,276	147,592	52	377	128,517	0	3,860	4,800	-	-	-	-
Notes payable assumed
0	0	0	0	17,157	0	0	87,500	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	123,667	0	3,860	4,800	-	-	-	-
Investment in unconsolidated real estate ventures
0	-	-	-	2,780	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	404
Other noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,601	11,009	-	-	-	-	0	4,502	0	-2,251	-	-	-	-	-	-	-	-	0	0	0	-104
Accrued construction costs and capital expenditures
Acquisition of real estate assets
960	911	-76	588	780	503	-909	658	526	-1,365	-1,706	1,783	4,797	-342	1,272	7,567	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Development and redevelopment of real estate assets
-	-	-	-	-	-	-	177	1,381	145	-1,240	1,808	990	125	-1,298	1,298	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
960	2,512	-76	588	780	1,057	-2,467	835	1,907	-1,220	-2,946	3,591	5,787	-217	-26	8,865	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution of Preferred OP Units to unconsolidated real estate venture
Investments in unconsolidated real estate ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	3,468	4,326	0	17,261	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,349	-	-	-	-	0	0	0	-42,739
Conversion of Preferred OP Units to common OP Units
Redemption of Operating Partnership units held by noncontrolling interests for common stock
Noncontrolling interests in Operating Partnership
330	3,799	1,125	4,823	3,310	382	572	383	0	-	-	-	-	-262	10	817	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,146	1,198	-	-	-	-
Acquisitions of real estate assets
Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired
-	-	-	-	-	-	0	88,353	489	-	2,000	18,100	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash or Part Noncash Acquisition, Debt Assumed
-	-	-	-	-	-	0	87,500	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated real estate ventures
-	-	-	-	-	-	-	-1,024	489	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution of Preferred OP Units to unconsolidated real estate venture
Investments in unconsolidated real estate ventures
0	-	0	4,575	23,447	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Value of Preferred Operating Partnership units issued
0	-	0	4,575	23,447	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-