Federal realty investment trust (FRT)
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
OPERATING ACTIVITIES
Net income

56,441

148,966

67,106

82,667

61,803

56,382

64,180

65,533

62,931

52,785

108,882

78,133

58,070

59,724

61,198

58,898

79,063

69,998

54,550

45,673

48,203

37,279

49,049

45,416

40,545

29,603

63,366

38,797

35,842

38,858

39,656

33,596

44,122

32,455

48,302

36,471

32,384

34,305

31,010

32,368

30,554

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

62,188

61,431

59,648

59,057

59,622

66,976

60,778

58,381

58,110

56,394

55,611

52,666

51,379

48,448

48,903

48,435

47,799

46,423

43,718

42,671

41,984

43,411

42,660

40,893

43,850

41,214

39,408

39,853

40,624

35,337

34,932

35,199

36,571

31,853

32,083

32,063

30,569

30,116

29,591

31,178

28,932

Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes

-

-

-

-

-

1,502

3,125

3,972

3,316

7,973

50,775

18,996

178

0

4,945

1,787

25,726

16,821

0

11,509

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

296

0

0

0

-2,801

Gain On Sale Of Real Estate in Real Estate Partnership

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,860

-

0

0

0

-

-

-

-

Loss from partnerships

-1,164

-710

-249

381

-1,434

-705

-1,440

-728

-525

-121

-182

-114

0

9

0

0

41

430

360

406

220

334

446

250

213

433

381

372

312

528

490

438

301

607

434

444

323

554

125

188

193

Other, net

110

-626

2,595

92

-2,230

-896

-426

-1,088

-1,737

-2,508

3,421

22

1,739

82

-278

420

-698

1,111

743

-334

-1,491

1,413

202

-816

-1,532

-126

-450

-352

-1,776

-112

-1,098

-1,017

-2,121

-1,169

-1,027

-678

-997

-2,545

-2,572

59

959

Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Decrease (increase) in accounts receivable, net

-3,012

7,261

3,542

4,080

1,245

-5,431

709

6,127

-2,322

-3,624

5,032

923

-4,390

-5,472

4,539

-1,771

836

-5,550

6,985

1,158

6,607

-13,051

5,275

4,123

6,716

-3,861

2,426

5,298

2,458

-9,751

4,046

-887

-740

-8,031

3,222

1,641

1,280

-5,793

750

-142

-2,276

Decrease in prepaid expenses and other assets

-8,618

-2,583

20,636

-6,632

-1,168

-9,612

21,759

-5,989

-4,088

-932

14,555

-6,326

-3,602

-25,983

24,694

2,256

-1,181

-4,411

14,830

-4,150

426

-3,315

15,712

-7,486

-689

-1,018

8,632

-7,776

93

400

12,563

-5,568

398

-627

8,593

-6,800

-3,779

-1,232

9,701

-3,512

-2,133

Decrease in accounts payable and accrued expenses

-3,619

-3,935

7,755

5,322

-6,815

-246

4,182

4,094

-5,380

1,623

11,554

-3,071

4,136

-4,005

10,732

-4,634

5,066

-1,289

12,604

-13,420

800

-631

3,917

-844

1,811

419

5,312

-4

-402

-1,958

3,130

3,821

-1,734

2,538

-664

1,497

-18,365

961

-5

6,199

-8,034

Decrease in security deposits and other liabilities

-8,945

396

8,327

4,440

-13,278

13,718

-3,808

864

3,163

-2,930

-1,635

500

4,273

-1,267

2,868

-1,279

-2,325

1,165

-452

6,255

-3,239

-939

187

3,513

-2,336

-1,342

6,796

2,893

-7,284

6,306

-2,457

788

196

-4,031

511

-656

-1,466

2,902

-216

-476

-1,467

Net cash provided by operating activities

118,749

117,613

102,019

137,368

104,919

151,972

101,605

138,931

124,180

119,357

100,811

114,727

123,933

134,264

89,801

98,728

104,879

107,896

87,502

91,662

81,986

104,284

69,777

92,907

79,162

87,770

80,032

79,003

67,693

87,478

59,260

80,438

69,457

71,760

54,253

72,699

45,999

77,050

50,340

71,384

57,961

INVESTING ACTIVITIES
Acquisition of real estate

7,109

159,394

19,946

0

25,176

9,879

1,888

1,736

0

0

272,707

23,843

141,222

7,807

5,381

-6

129,776

33,183

12,211

82,505

26,414

4,802

0

4,044

308

40,074

0

47,202

0

-

-

-

-

77,253

7,108

0

19,196

-

-

-

-

Capital expenditures - development and redevelopment

106,572

100,842

92,662

70,190

63,380

84,683

67,318

81,000

69,119

106,318

106,468

110,114

119,084

116,114

121,515

86,537

55,554

59,581

51,940

70,018

54,898

77,874

82,048

80,635

74,097

86,422

63,361

59,923

33,367

37,030

44,540

23,695

24,081

34,896

21,055

17,004

18,967

15,639

15,712

13,542

5,521

Capital Expenditures - Other

15,792

28,946

17,221

22,608

14,061

15,394

15,090

15,460

20,194

24,077

19,253

17,256

16,366

17,234

16,732

11,217

12,377

17,971

7,380

10,279

10,466

12,923

13,101

10,446

9,834

14,869

12,186

10,554

9,460

17,625

13,410

7,332

12,958

18,224

13,285

7,823

11,208

16,808

12,023

3,897

5,953

Costs associated with property sold under threat of condemnation

17,412

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of real estate

0

-

22,756

86,919

6,106

-

21,320

69,932

51,459

-

80,807

46,109

622

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in partnerships

136

72

73

607

300

421

496

-60

180

194

72

312

118

3,726

1,430

1,367

697

1,247

1,406

102

47

0

3,150

3,581

0

-

-

-

-

-

-

-

-

0

0

6,862

85

-

-

-

-

Distribution from partnerships in excess of earnings

849

967

497

318

983

38

32

112

93

57

0

1,672

0

-

-

-

-

-

-

-

-

344

-80

209

92

697

25

68

0

696

172

105

143

628

-69

170

341

70

-91

78

180

Leasing costs

5,001

6,708

7,278

3,214

8,259

5,492

7,599

4,282

8,057

5,361

5,022

3,160

3,113

6,828

4,283

3,903

3,285

7,055

7,282

4,712

3,333

20,404

6,764

4,174

3,944

3,305

2,479

3,886

2,723

5,230

3,422

3,338

2,243

3,285

2,795

2,535

3,800

3,178

2,382

2,014

2,698

(Issuance) repayment of mortgage and other notes receivable, net

659

487

-29

-51

-50

-293

37

143

180

1,146

-14

519

-5

95

-11,716

-3

-2

360

-10,091

-389

-213

-433

-3,935

-589

-51

-262

-434

-386

125

-1,004

-40

-194

143

-331

-587

-8,705

-7

677

1,360

615

11,243

Net cash used in investing activities

-151,832

-89,266

-113,898

-9,331

-104,037

-80,474

-33,078

-32,517

-46,178

-128,522

-322,701

-107,423

-279,276

-151,804

-137,515

-99,215

-201,687

-67,284

-70,128

-121,406

-94,945

-115,226

-90,802

-102,082

-88,040

-143,711

-43,309

-112,503

-45,675

-130,123

-70,087

-34,066

-39,282

-95,056

-24,553

-23,852

-52,908

-75,783

-49,360

-36,710

-25,235

FINANCING ACTIVITIES
Net borrowings under revolving credit facility, including costs

990,000

0

-4,012

-20,000

20,000

-26,500

-62,500

-14,000

62,000

-500

41,500

-217,000

217,000

-3,416

-95,000

42,000

-500

53,500

-106,500

106,500

0

-

-

-

-

-

-

-

-

-

-

-

-

-158,000

-35,159

-3,000

115,000

50,000

27,000

0

-450

Issuance of senior notes, net of costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-41

247,548

-10

208,654

244,579

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-159

148,616

Redemption and retirement of senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

75,000

-

-

-

-

Repayment of mortgages, finance leases and notes payable

1,524

1,544

1,385

276,382

21,718

1,483

1,729

1,430

11,978

1,484

920

52,357

1,567

10,710

1,616

35,810

1,423

19,414

148,564

2,302

11,035

65,118

3,207

23,255

2,842

136,360

2,870

22,410

12,095

37,102

3,042

9,978

3,292

2,997

2,934

40,722

45,299

2,998

2,939

3,537

252,866

Issuance of common shares, net of costs

19

3,298

71,268

9,034

59,427

49,290

59,136

21,156

1,336

67,394

33,799

31

17,359

29,063

54,819

63,464

181,757

9,715

43,133

57,418

589

61,905

50,319

52,316

51,615

68,461

34,867

50,678

32,542

18,602

54,039

17,227

22,402

1,128

57,006

47,775

49,012

613

2,508

2,122

1,367

Dividends paid to common and preferred shareholders

80,898

80,664

78,020

77,669

77,296

76,883

74,708

74,678

74,925

72,150

70,398

70,330

70,117

69,944

66,674

66,192

64,884

64,901

59,692

59,391

59,330

58,904

52,456

52,142

51,714

51,167

47,653

47,312

46,884

46,848

43,913

43,762

43,497

42,007

42,208

41,740

41,358

41,297

40,658

40,612

40,553

Shares withheld for employee taxes

3,982

11

173

28

4,414

31

150

24

753

13

139

16

4,061

15

65

18

4,353

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

0

132

111

55

106

85

1,025

1,659

69

137

244

12,933

135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to and redemptions of noncontrolling interests

4,720

2,667

12,293

2,066

3,107

2,445

3,762

3,835

5,251

2,348

2,570

5,517

4,795

1,752

3,100

17,154

2,096

-7,548

2,610

2,505

2,433

2,246

2,026

2,131

1,409

12,797

-1,606

-2,778

-1,295

17,171

-1,158

-1,666

-4,412

-1,285

-4,183

-1,313

-1,242

-9,730

1,274

1,475

1,635

Distributions to and redemptions of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,023

9,626

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

898,895

-81,649

78,526

-69,980

-27,002

-57,967

-82,688

-71,152

-29,502

1,321

147,016

67,154

153,954

-56,406

130,373

-607

95,478

-32,430

-26,685

-119,518

136,445

34,976

3,630

-25,212

-4,350

17,037

-17,258

110,592

-27,732

-68,047

75,733

-32,780

-28,799

69,032

-27,478

-39,000

1,113

5,356

-15,363

-33,711

-145,521

Increase (decrease) in cash, cash equivalents and restricted cash

865,812

-53,302

66,647

58,057

-26,120

13,531

-14,161

35,262

48,500

-7,844

-74,874

74,458

-1,389

-73,946

82,659

-1,094

-1,330

8,182

-9,311

-149,262

123,486

24,034

-17,395

-34,387

-13,228

-38,904

19,465

77,092

-5,714

-110,692

64,906

13,592

1,376

45,736

2,222

9,847

-5,796

6,623

-14,383

963

-112,795