Franklin Street Properties Corp. FSP Cash Flow

Franklin street properties corp. (FSP)

CashFlow / TTM

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 loss
6,609	6,475	4,198	11,407	10,439	13,069	6,766	-939	-18,999	-15,944	-9,283	-8,728	10,279	8,378	22,061	22,769	25,060	35,014	23,897	22,298	22,108	13,148	15,444	17,971	18,999	19,827	18,695	5,603	6,296	7,633	7,236	19,548	24,495	43,524	44,282	45,725	41,298	22,093	0	0	0
Adjustments to reconcile net income or loss to net cash provided by operating activities:
Depreciation and amortization expense
92,911	93,787	94,116	94,912	96,385	97,171	99,452	100,970	102,554	103,743	102,911	101,236	98,218	95,243	92,836	92,343	93,199	93,426	94,019	95,975	96,308	97,916	98,708	96,153	89,649	81,267	72,450	63,973	60,152	57,500	55,544	54,086	52,915	50,261	47,112	44,700	41,452	39,627	0	0	0
Amortization of above and below market leases
-363	-402	-456	-541	-583	-556	-495	-384	-948	-1,031	-1,333	-1,433	-745	-496	-166	-44	-83	-158	-21	540	652	635	472	-220	-373	-365	-262	-31	28	71	128	35	-1	-47	0	153	640	1,362	0	0	0
Hedge ineffectiveness
-	-	-	-	-	-	-	-	-	-1,878	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of properties and properties held for sale
-	-	-	-	-	-	-	-	-	-18,481	0	0	0	-	-	-	-	23,662	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	21,939	0	0	0	-	-	-	-
Equity in (income) loss of non-consolidated REITs
-	-	-	-	-	6,793	3,908	-3,393	-3,312	-3,604	-982	-1,057	-942	-831	-1,375	-1,463	-1,415	-1,451	-913	-1,084	-1,598	-1,760	-2,035	-2,011	-1,654	-1,358	158	765	1,454	2,033	1,342	1,127	2,411	3,086	2,951	3,394	1,996	1,183	0	0	0
Distributions from non-consolidated REITs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	705	1,686	2,149	2,678	3,474	744	1,220	1,509	1,633	0	0	0
Decrease in allowance for doubtful accounts and write-off of accounts receivable
-24	-71	-94	-61	-185	-50	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,250	-1,260	-1,190	-1,190	65	105	65	75	-365	-305	135	225	980	0	0	0
Changes in operating assets and liabilities:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	14	-45	-46	-719	-673	-680	-632	99	84	126	105	68	77	69	72	82	69	74	71	73	422	400	390	86	0	0	0
Tenant rent receivables
-904	-158	1,110	2,266	893	765	-684	-622	-149	160	584	1,363	64	185	-217	332	-1,091	-2,030	708	94	-1,173	-94	-3,069	601	3,618	2,103	3,587	-262	77	354	-131	-378	-523	-827	-1,010	1,081	528	1,120	0	0	0
Straight-line rents
8,702	8,876	7,390	4,747	799	-381	-1,075	-429	645	1,767	1,904	1,899	1,784	1,977	2,969	3,780	3,654	2,448	2,272	2,057	3,022	4,737	5,900	7,263	6,909	5,782	4,886	3,735	3,604	4,464	5,972	7,273	9,092	9,878	8,692	7,666	5,532	4,249	0	0	0
Lease acquisition costs
3,780	3,999	3,665	3,398	1,606	1,193	1,859	2,132	2,036	2,052	1,292	1,161	1,188	1,095	1,703	1,508	1,683	1,487	465	234	96	440	764	914	1,304	1,146	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
-172	-2,313	192	-127	169	1,940	-1,055	-425	678	403	999	266	-71	721	248	732	652	-422	191	-393	-183	-700	-192	174	817	1,547	895	-314	351	328	-162	815	-1,616	-1,611	-1,162	-2,003	-688	-865	0	0	0
Accounts payable and accrued expenses
1,796	3,910	1,437	-4,209	-3,267	-4,077	1,694	2,090	7,178	3,870	3,784	6,698	5,906	5,751	7,586	2,035	2,837	5,505	1,736	4,305	-243	206	2,144	3,976	8,891	11,137	10,602	3,868	2,094	3,717	57	3,544	2,037	4,213	3,165	3,062	2,354	-351	0	0	0
Accrued compensation
262	357	925	413	-39	-598	-156	-151	-147	-143	-238	-399	-15	58	2	1	33	-32	373	275	214	773	431	375	487	445	238	733	94	318	811	-126	-157	419	49	30	329	387	0	0	0
Tenant security deposits
3,263	3,027	3,389	3,542	764	936	188	209	147	28	712	674	1,008	526	370	379	415	581	19	56	-239	222	440	1,185	1,784	1,538	1,610	961	293	481	-172	-363	-352	78	531	472	837	122	0	0	0
Payment of deferred leasing commissions
13,751	15,101	13,817	16,856	18,543	15,383	17,182	17,318	13,785	14,309	11,996	9,699	12,746	12,965	13,169	12,437	8,985	8,276	5,747	5,176	6,350	6,347	6,447	9,322	7,614	9,125	10,286	7,377	7,162	5,179	3,773	4,185	5,880	8,058	9,331	8,816	7,768	10,515	0	0	0
Net cash provided by operating activities
79,634	81,915	77,341	71,143	74,606	80,202	89,531	89,566	98,997	95,945	98,458	102,082	98,588	94,378	95,481	89,552	95,644	102,890	99,900	105,770	101,791	103,166	107,677	100,958	98,506	92,028	81,064	75,922	67,382	70,356	66,652	63,871	64,028	60,961	54,360	54,149	53,526	49,565	0	0	0
Cash flows from investing activities:
Property improvements, fixtures and equipment
75,577	70,746	63,061	55,720	55,506	51,057	48,226	50,004	53,346	54,187	57,249	55,001	42,323	37,407	28,765	22,287	24,151	21,750	20,972	21,125	17,818	18,370	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Office computers and furniture
-	-	-	-	-	-	-	-	-	-	-	-	-	83	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquired real estate leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	62,230	0	0	0	-	-	-	-
Investment in non-consolidated REITs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,858	-4,858	-4,752	-4,752	1	1	1	2	10	0	0	0	-	-	-	-
Distributions in excess of earnings from non-consolidated REITs
-	-	-	-	-	710	1,065	1,415	1,405	1,396	1,373	1,355	1,342	1,023	717	412	107	107	107	107	107	107	108	108	108	108	699	1,325	1,690	2,105	2,017	1,752	1,540	1,582	0	0	0	-	-	-	-
Investment in related party mortgage loan receivable
-	2,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,170	5,820	6,820	7,370	8,200	5,610	41,510	45,810	74,580	152,520	115,620	112,170	82,832	8,160	15,646	18,791	21,149	0	0	0
Repayment of related party mortgage loan receivable
-	52,060	52,060	52,060	1,060	1,060	1,060	1,060	10,060	10,060	10,060	10,060	1,060	39,861	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in assets held for syndication
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,230	-5,966	-11,739	-45,872	1,319	0	0	0
Proceeds received on sales of real estate assets
-	-	-	-	-	-	-	-	-	37,756	0	0	0	-	-	-	-	85,426	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	96,790	0	0	0	-	-	-	-
Proceeds received from liquidating trust
-	1,470	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquired real estate leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	67,909	53,133	55,089	174,020	161,005	120,932	159,559	38,781	0	0	0
Changes in deposits on real estate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	0	0	-	-	-	-	-200	0	0	0	-	-	-	-
Net cash used in investing activities
-22,575	-19,616	-11,931	70,341	18,703	25,644	60,307	-16,052	-10,404	-5,094	-188,911	-232,104	-282,189	-244,972	-83,058	-31,727	-45,131	-38,104	-33,118	-33,271	48,236	1,843	5,387	-364,424	-566,455	-562,648	-711,517	-323,428	-138,770	-172,289	-125,207	-173,770	-128,095	-218,290	-132,726	-107,942	-191,434	-70,848	0	0	0
Cash flows from financing activities:
Distributions to stockholders
38,606	38,603	38,603	38,603	38,603	49,326	60,050	70,773	81,496	81,496	81,495	80,157	78,819	77,481	76,143	76,142	76,142	76,142	76,141	76,142	76,142	76,142	76,144	76,144	72,866	69,588	66,310	63,032	63,032	63,032	63,032	62,747	62,462	62,177	61,587	61,253	60,920	60,586	0	0	0
Proceeds from equity offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,001	0	0	0	-	-	-	0
Borrowings under bank note payable
50,000	45,000	53,000	53,000	38,000	38,000	45,000	65,000	75,000	75,000	80,000	120,000	190,000	175,000	170,000	110,000	105,000	110,000	100,000	100,000	25,000	15,000	10,000	160,000	165,000	160,000	0	0	0	-	-	-	90,000	449,000	417,000	392,000	494,000	100,960	0	0	0
Repayments of bank note payable
60,000	70,000	70,000	151,000	96,000	91,000	328,000	262,000	272,000	277,000	58,000	135,000	160,000	185,000	192,000	100,000	80,000	88,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	209,968	0	0	0	-	-	-	-
Borrowing of term loan payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-74,850	0	0	0	-	-	-	-
Deferred financing costs
-	83	82	2,229	2,229	2,162	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,388	0	0	0	-	-	-	-
Swap termination payment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	983	0	0	0	-	-	-	-
Net cash provided by financing activities
-48,608	-63,686	-55,685	-138,832	-98,832	-104,488	-152,114	-74,689	-85,412	-90,398	89,768	134,098	180,436	141,774	-18,151	-66,142	-51,142	-54,142	-63,612	-75,113	-155,113	-117,113	-122,673	256,959	470,698	468,976	632,030	249,848	59,387	99,387	38,470	103,638	43,862	112,929	101,859	61,187	164,581	62,092	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash
8,451	-1,387	9,725	2,652	-5,523	1,358	-2,276	-1,175	3,181	453	-685	4,076	-3,165	-8,820	-5,728	-8,317	-629	10,644	3,170	-2,614	-5,086	-12,104	-9,609	-6,507	2,749	-1,644	1,577	2,342	-12,001	-2,546	-20,085	-6,261	-20,205	-44,400	23,493	7,394	26,673	40,809	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for:
Interest
33,391	34,470	34,207	35,267	35,720	35,885	33,472	33,428	29,901	29,969	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes
-	508	377	377	458	485	486	486	501	584	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
Accrued costs for purchase of real estate assets
14,048	11,012	4,799	13,202	9,631	7,361	8,552	459	760	5,140	5,140	12,433	12,062	5,230	7,360	3,317	2,100	3,211	1,988	2,092	3,706	1,788	1,747	4,213	3,576	3,570	4,535	2,387	1,780	1,692	-949	1,166	1,445	733	753	448	-1,414	845	0	0	0