Franklin street properties corp. (FSP)
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 loss

-1,071

3,648

2,399

1,633

-1,205

1,371

9,608

665

1,425

-4,932

1,903

-17,395

4,480

1,729

2,458

1,612

2,579

15,412

3,166

3,903

12,533

4,295

1,567

3,713

3,573

6,591

4,094

4,741

4,401

5,459

-8,998

5,434

5,738

5,062

3,314

10,381

24,767

5,820

4,757

5,954

5,562

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

23,086

23,715

23,281

22,829

23,962

24,044

24,077

24,302

24,748

26,325

25,595

25,886

25,937

25,493

23,920

22,868

22,962

23,086

23,427

23,724

23,189

23,679

25,383

24,057

24,797

24,471

22,828

17,553

16,415

15,654

14,351

13,732

13,763

13,698

12,893

12,561

11,109

10,549

10,481

9,313

9,284

Amortization of above and below market leases

-73

-97

-112

-81

-112

-151

-197

-123

-85

-90

-86

-687

-168

-392

-186

1

81

-62

-64

-38

6

75

497

74

-11

-88

-195

-79

-3

15

36

-20

40

72

-57

-56

-6

119

96

431

716

Hedge ineffectiveness

-

-

-

-

-

-

-

-

-

-2,096

67

129

22

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale of properties and properties held for sale

-

-

-

-

-

-

-

-

-

-21

-257

-20,492

2,289

-

-

-

-

12,251

1

948

10,462

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,347

19,592

-

-

-

-

Equity in (income) loss of non-consolidated REITs

-

-

-

-

-

0

7,180

-282

-105

-2,885

-121

-201

-397

-263

-196

-86

-286

-807

-284

-38

-322

-269

-455

-552

-484

-544

-431

-195

-188

972

176

494

391

281

-39

1,778

1,066

146

404

380

253

Distributions from non-consolidated REITs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-541

253

506

487

440

716

1,035

1,283

-2,290

1,192

1,324

1,407

Decrease in allowance for doubtful accounts and write-off of accounts receivable

-13

-2

22

-31

-60

-25

55

-155

75

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-30

-30

0

-1,190

-40

40

0

65

0

0

10

-375

60

440

100

380

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

45

-7

-13

-11

-14

-8

-686

35

-21

40

45

20

21

19

8

29

13

22

18

16

18

19

20

365

-4

9

-284

Tenant rent receivables

-255

-561

-1,934

1,846

491

707

-778

473

363

-742

-716

946

672

-318

63

-353

793

-720

612

-1,776

-146

2,018

-2

-3,043

933

-957

3,668

-26

-582

527

-181

313

-305

42

-428

168

-609

-141

1,663

-385

-17

Straight-line rents

966

1,926

2,121

3,689

1,140

440

-522

-259

-40

-254

124

815

1,082

-117

119

700

1,275

875

930

574

69

699

715

1,539

1,784

1,862

2,078

1,185

657

966

927

1,054

1,517

2,474

2,228

2,873

2,303

1,288

1,202

739

1,020

Lease acquisition costs

470

844

552

1,914

689

510

285

122

276

1,176

558

26

292

416

427

53

199

1,024

232

228

3

2

1

90

347

326

151

480

189

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

644

-1,052

1,131

-895

-1,497

1,453

812

-599

274

-1,542

1,442

504

-1

-946

709

167

791

-1,419

1,193

87

-283

-806

609

297

-800

-298

975

940

-70

-950

-234

1,605

-93

-1,440

743

-826

-88

-991

-98

489

-265

Accounts payable and accrued expenses

-8,215

1,061

11,590

-2,640

-6,101

-1,412

5,944

-1,698

-6,911

4,359

6,340

3,390

-10,219

4,273

9,254

2,598

-10,374

6,108

3,703

3,400

-7,706

2,339

6,272

-1,148

-7,257

4,277

8,104

3,767

-5,011

3,742

1,370

1,993

-3,388

82

4,857

486

-1,212

-966

4,754

-222

-3,917

Accrued compensation

-2,065

-369

1,578

1,118

-1,970

199

1,066

666

-2,529

641

1,071

670

-2,525

546

910

1,054

-2,452

490

909

1,086

-2,517

895

811

1,025

-1,958

553

755

1,137

-2,000

346

1,250

498

-1,776

839

313

467

-1,200

469

294

766

-1,142

Tenant security deposits

269

338

-110

2,766

33

700

43

-12

205

-48

64

-74

86

636

26

260

-396

480

35

296

-230

-82

72

1

231

136

817

600

-15

208

168

-68

173

-445

-23

-57

603

8

-82

308

-112

Payment of deferred leasing commissions

2,892

5,616

1,371

3,872

4,242

4,332

4,410

5,559

1,082

6,131

4,546

2,026

1,606

3,818

2,249

5,073

1,825

4,022

1,517

1,621

1,116

1,493

946

2,795

1,113

1,593

3,821

1,087

2,624

2,754

912

872

641

1,348

1,324

2,567

2,819

2,621

809

1,519

5,566

Net cash provided by operating activities

7,201

21,858

35,407

15,168

9,482

17,284

29,209

18,631

15,078

26,613

29,244

28,062

12,026

29,126

32,868

24,568

7,816

30,229

26,939

30,660

15,062

27,239

32,809

26,681

16,437

31,750

26,090

24,229

9,959

20,786

20,948

15,689

12,933

17,082

18,167

15,846

9,866

10,481

17,956

15,223

5,905

Cash flows from investing activities:
Property improvements, fixtures and equipment

20,054

22,841

18,961

13,721

15,223

15,156

11,620

13,507

10,774

12,325

13,398

16,849

11,615

15,387

11,150

4,171

6,699

6,745

4,672

6,035

4,298

5,967

4,825

2,728

4,850

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Office computers and furniture

-

-

-

-

-

-

-

-

-

-

-

-

-

6

43

13

21

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquired real estate leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,275

13,923

0

45,032

-

-

-

-

Investment in non-consolidated REITs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-106

0

-4,752

0

0

0

1

0

0

1

9

-

-

-

-

Distributions in excess of earnings from non-consolidated REITs

-

-

-

-

-

0

0

355

355

355

350

345

346

332

332

332

27

26

27

27

27

26

27

27

27

27

27

27

27

618

653

392

442

530

388

180

484

-

-

-

-

Investment in related party mortgage loan receivable

-

0

0

0

2,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,600

0

400

2,170

3,250

1,000

950

3,000

660

36,900

5,250

31,770

78,600

0

1,800

2,432

3,928

7,486

4,945

4,790

Repayment of related party mortgage loan receivable

-

265

265

51,265

265

265

265

265

265

265

265

9,265

265

265

265

265

39,066

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in assets held for syndication

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,657

5,773

36,986

-45,186

-3,539

0

2,853

2,005

Proceeds received on sales of real estate assets

-

-

-

-

-

-

-

-

-

31,596

0

0

6,160

-

-

-

-

29,767

0

7,988

47,671

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,408

89,382

-

-

-

-

Proceeds received from liquidating trust

-

0

0

1,207

263

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquired real estate leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

304,704

160,724

3,465

-

42,097

1,736

5,376

18,700

27,321

3,692

124,307

5,685

-12,752

42,319

3,529

Changes in deposits on real estate assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,000

-

-

-

-

-

-

1,500

1,500

-

-

-

-

0

0

0

-200

-

-

-

-

Net cash used in investing activities

-20,054

-22,576

-18,696

38,751

-17,095

-14,891

63,576

-12,887

-10,154

19,772

-12,783

-7,239

-4,844

-164,045

-55,976

-57,324

32,373

-2,131

-4,645

-70,728

39,400

2,855

-4,798

10,779

-6,993

6,399

-374,609

-191,252

-3,186

-142,470

13,480

-6,594

-36,705

-95,388

-35,083

39,081

-126,900

-9,824

-10,299

-44,411

-6,314

Cash flows from financing activities:
Distributions to stockholders

9,654

9,650

9,651

9,651

9,651

9,650

9,651

9,651

20,374

20,374

20,374

20,374

20,374

20,373

19,036

19,036

19,036

19,035

19,035

19,036

19,036

19,034

19,036

19,036

19,036

19,036

19,036

15,758

15,758

15,758

15,758

15,758

15,758

15,758

15,473

15,473

15,473

15,168

15,139

15,140

15,139

Proceeds from equity offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

18,091

0

-90

-

-

-

-1

Borrowings under bank note payable

35,000

0

0

15,000

30,000

8,000

0

0

30,000

15,000

20,000

10,000

30,000

20,000

60,000

80,000

15,000

15,000

0

75,000

20,000

5,000

0

0

10,000

0

150,000

5,000

5,000

-

-

-

45,000

74,000

30,000

-59,000

404,000

42,000

5,000

43,000

10,960

Repayments of bank note payable

5,000

0

0

55,000

15,000

0

81,000

0

10,000

237,000

15,000

10,000

15,000

18,000

92,000

35,000

40,000

25,000

0

15,000

48,000

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

209,968

-

-

-

-

Borrowing of term loan payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-74,850

-

-

-

-

Deferred financing costs

-

1

1

0

81

0

2,148

0

14

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

0

1,061

4,328

-

-

-

-

Swap termination payment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

982

-

-

-

-

Net cash provided by financing activities

20,346

-9,651

-9,652

-49,651

5,268

-1,650

-92,799

-9,651

-388

-49,276

-15,374

-20,374

-5,374

130,890

28,956

25,964

-44,036

-29,035

-19,035

40,964

-47,036

-38,505

-30,536

-39,036

-9,036

-44,065

349,096

174,703

-10,758

118,989

-33,086

-15,758

29,242

58,072

32,082

-75,534

98,309

47,002

-8,590

27,860

-4,180

Net increase (decrease) in cash, cash equivalents and restricted cash

7,493

-10,369

7,059

4,268

-2,345

743

-14

-3,907

4,536

-2,891

1,087

449

1,808

-4,029

5,848

-6,792

-3,847

-937

3,259

896

7,426

-8,411

-2,525

-1,576

408

-5,916

577

7,680

-3,985

-2,695

1,342

-6,663

5,470

-20,234

15,166

-20,607

-18,725

47,659

-933

-1,328

-4,589

Supplemental disclosure of cash flow information:
Cash paid for:
Interest

5,899

10,760

6,327

10,405

6,978

10,497

7,387

10,858

7,143

8,084

7,343

7,331

7,211

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes

-

131

0

335

42

0

0

416

69

1

0

431

152

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash investing and financing activities:
Accrued costs for purchase of real estate assets

9,645

4,109

-4,298

4,592

6,609

-2,104

4,105

1,021

4,339

-913

-3,988

1,322

8,719

-913

3,305

951

1,887

1,217

-738

-266

2,998

-6

-634

1,348

1,080

-47

1,832

711

1,074

918

-316

104

986

-1,723

1,799

383

274

-1,703

1,494

-1,479

2,533