Global net lease, inc. (GNL)
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'11
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

9,601

12,931

9,941

15,328

8,276

-4,290

2,632

7,743

4,812

8,449

2,487

5,200

7,450

16,071

9,016

15,932

6,558

12,449

5,488

-45,807

25,855

-5,208

-24,558

-7,479

-16,349

-2,603

-3,090

-1,294

-2

-256

-93

-63

-1

-16

0

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

19,263

21,090

17,348

14,086

16,733

16,696

16,261

16,042

15,850

15,320

15,095

14,690

14,280

12,563

12,472

12,692

12,606

12,748

12,413

11,604

10,884

5,220

8,956

4,281

2,399

506

261

53

17

12

0

0

0

-

-

Amortization of intangibles

14,270

10,899

14,272

16,998

14,570

13,382

13,935

13,770

13,646

13,238

14,784

12,807

12,834

10,842

11,010

11,120

11,150

11,170

10,536

10,485

10,230

8,047

6,170

3,359

1,955

768

423

71

13

9

0

0

0

-

-

Amortization of deferred financing costs

1,810

1,789

1,906

1,177

1,742

1,455

1,338

1,499

901

1,399

1,198

943

880

929

951

2,393

2,425

2,471

2,140

1,995

1,921

1,721

1,226

498

308

145

97

6

2

1

0

0

0

-

-

Amortization of mortgage discounts and premiums, net

10

-

30

100

102

-

601

263

267

-

-

-

-

-

-

-

-

-

-123

-202

-42

-

-125

-124

-124

-1

0

0

0

-

-

-

-

-

-

Amortization of below-market lease liabilities

815

618

894

995

1,011

760

896

906

901

854

866

818

826

677

624

636

622

3,640

-509

-503

-494

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of below-market lease liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-4

13

12

0

0

0

0

-

-

Amortization of above-market lease assets

840

1,042

1,066

1,108

1,112

1,114

1,129

1,168

1,203

1,144

1,113

1,073

1,016

647

552

574

562

574

577

579

585

1,085

0

-66

66

-

-

-

-

-

-

-

-

-

-

Amortization of above- and below- market ground lease assets

207

209

169

231

236

236

255

238

250

243

242

249

214

58

14

35

76

2

26

25

18

32

0

0

0

-

-

-

-

-

-

-

-

-

-

Bad debt expense

0

0

-136

77

59

616

80

61

43

50

557

179

414

76

160

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled straight-line rent

1,487

1,737

1,506

1,931

1,626

1,472

1,492

1,833

1,503

1,513

2,070

3,039

3,878

2,541

2,536

2,722

2,801

3,236

3,584

3,551

4,438

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity-based compensation

2,488

2,491

2,501

2,429

2,109

1,451

2,053

-23

-832

-1,177

-391

-2,235

16

1,341

1,293

70

1,044

-90

1,794

606

35

-

-

-

5

8

8

4

4

4

4

3

0

0

0

Unrealized (gain) loss on foreign currency transactions, derivatives, and other

2,082

-4,592

1,670

455

-452

2,206

1,215

6,256

-2,550

-1,681

-3,598

-3,111

-1,792

2,140

-1,606

2,347

-1,809

2,980

812

-666

4,211

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized loss on undesignated foreign currency advances and other hedge ineffectiveness

0

0

0

0

-76

-452

108

-47

-43

86

88

-2,971

-882

4,496

1,459

4,252

-98

2,679

1,505

-508

1,448

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for settlement of derivatives

0

106

0

1,054

719

1,926

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized losses on non-functional foreign currency advances not designated as net investment hedges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-623

0

-11,842

8,907

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on disposition of real estate investments

0

8,824

6,977

6,923

892

0

-1,933

-3,818

0

0

275

-143

957

12,021

1,320

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentive payment

4,676

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized and unrealized marked-to-market transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-849

169

81

0

0

0

0

-

-

-

-

-

-

Appreciation of investment in securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-39

-6

-31

10

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net:
Prepaid expenses and other assets

-4,873

-4,933

12,709

-2,707

6,230

-11,499

4,604

5,865

1,493

2,406

1,203

200

2,416

-767

-681

236

2,363

-3,526

4,382

-73

-814

11,570

-491

-10,861

11,747

910

32

753

-48

9

38

29

0

0

0

Deferred tax assets

22

-1,187

34

-7

12

-2,294

7

51

-28

645

-29

-54

-13

1,355

-4

11

-20

353

-479

-1

-323

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due from affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

-909

2,643

-1,781

1,804

-12,396

2,026

-1,563

3,766

4,034

-1,869

1,177

621

-522

-1,409

-945

-1,620

964

527

-76

526

3,882

4,261

1,060

2,323

3,539

1,027

453

345

63

37

-37

45

-16

16

0

Prepaid rent

212

-3,103

-780

303

4,593

-1,035

568

-4,799

2,954

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Prepaid rent

-

-

-

-

-

-

-

-

-

-

-

-

2,047

-

-349

788

-1,890

2,601

999

521

-882

4,147

3,866

1,052

1,325

34

568

266

49

0

0

0

0

-

-

Deferred tax liability

686

-372

537

-180

267

190

94

758

-408

-278

-463

-134

-929

-530

-34

-271

-143

249

0

0

0

-3,665

0

0

0

-

-

-

-

-

-

-

-

-

-

Taxes payable

-1,046

1,043

-610

565

-2,180

1,303

-1,008

985

-1,527

-4,322

-569

-126

-1,567

4,153

-297

-171

-1,488

2,035

505

1,641

1,020

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

41,895

48,150

26,605

46,493

24,751

41,200

32,424

30,296

40,677

28,454

33,584

36,188

32,728

24,347

30,134

31,783

28,130

35,754

21,964

9,948

34,489

-45

-6,416

15,310

-18,542

-1,248

-1,316

-1,289

206

-193

-164

-44

-17

0

0

Cash flows from investing activities:
Investment in real estate and real estate related assets

113,117

-

-

-

23,454

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in real estate and real estate related assets

-

-

-

-

-

212,269

105,593

98,190

63,596

61,664

6,823

0

30,290

0

0

0

0

1

175,890

8,529

38,655

426,549

640,430

259,332

180,761

56,912

44,068

9,046

0

-

-

-

-

-

-

Deposits for real estate acquisitions

1,434

1,744

-1,219

1,070

1,200

-3,775

-20,776

17,801

6,750

0

0

0

0

-

-

-

-

0

-157

-421

-195

-8,223

3,514

4,163

1,321

974

0

500

0

-

-

-

-

-

-

Capital expenditures

1,396

-

-

-

11,265

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

-

-

-

-

-

-1,160

2,068

438

108

1,915

662

153

388

0

0

86

114

253

7,920

470

1,852

8,838

0

0

0

-

-

-

-

-

-

-

-

-

-

Purchase of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Real Estate Held-for-investment

0

146,860

51,622

80,639

9,277

407

3,934

19,376

0

-148

0

0

12,440

94,386

13,414

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for settlement of net investment hedges

-

-

-

-

-

-

0

0

561

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Payments for) proceeds from settlement of derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,055

0

0

10,055

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Advances from affiliates, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-871

289

1,572

-

0

0

459

-446

-357

-81

-157

145

426

81

134

80

0

Restricted cash acquired in merger transaction

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,028

-46

-730

-1,252

-6,455

5,180

-252

1,527

737

0

0

0

-

-

-

-

-

-

Net cash used in investing activities

-115,947

-112,274

-46,711

-108,849

-26,642

-206,927

-82,951

-97,053

-71,015

-63,727

3,140

-153

-18,238

120,933

13,414

-86

-114

-254

-183,190

-8,578

-30,257

-427,654

-643,944

-263,495

-182,082

-57,886

-44,068

-9,546

0

-

-

-

-

-

-

Cash flows from financing activities:
Borrowings under revolving credit facilities

205,000

-30,269

124,264

90,000

26,000

0

55,000

122,000

70,000

76,150

495,868

0

75,335

46,197

16,485

0

0

0

224,636

0

251,572

238,734

95

19,671

0

0

0

0

0

-

-

-

-

-

-

Repayments on revolving credit facilities

0

-124,064

279,649

90,000

130,000

90,000

57,375

0

30,000

196,151

805,748

5,050

0

71,732

15,440

6,696

20,000

2,550

75,617

63,893

231,107

-1,070

-1

19,571

0

-

-

-

-

-

-

-

-

-

-

Repayment of mezzanine facility

-

-

-

-

-

-

-

-

-

0

0

0

56,537

51,803

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-614

306

12,813

0

0

0

0

-

-

-

-

-

-

Proceeds from mortgage notes payable

0

-84

204,000

291,141

84,228

162,265

299,674

0

32,750

187,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on mortgage notes payable

0

125,742

94,621

130,556

82,636

-4,370

292,233

24,057

1,305

82

78

21,552

206

12,816

183

189

189

186

176

175

184

-370

167

164

174

0

0

0

0

-

-

-

-

-

-

Deposits on mortgages

0

-

-

-

300

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Stock Issuance Costs

106

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-9

27

-67

644

8,343

102,483

56,800

7,911

4,328

5,387

1,144

332

262

37

117

280

0

Common stock issuance costs

-

-182

108,018

388

150,198

77,621

94,221

-59

-13

-

-

-

-

0

-2

-5

7

49

113

9

298

-246

22,317

1,028,269

518,742

65,843

37,096

38,693

7,239

2,031

0

0

0

200

0

Preferred stock issuance costs

76

-

18,140

11,899

1,613

-

-28

200

-419

-

96,348

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of financing costs

0

65

13,232

4,911

857

4,401

4,915

1,285

0

2,073

11,572

865

102

-2,779

3,584

-592

-87

269

3,215

1,397

0

6,745

2,154

5,057

2,932

508

1,520

317

0

-

-

-

-

-

-

Dividends paid on Common Stock

47,638

47,638

44,988

14,883

43,270

39,092

36,691

35,828

35,833

36,146

35,834

35,466

35,293

30,250

30,097

30,019

30,020

29,668

30,278

23,516

14,268

13,780

13,083

6,524

2,028

939

594

190

46

1

0

0

0

-

-

Dividends paid on Preferred Stock

-

-

-

-

-

2,455

2,451

2,455

2,451

383

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Ordinary Dividends, Noncontrolling Interest

135

137

135

136

134

137

290

0

158

165

159

160

255

259

405

487

857

321

321

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments received on related party notes receivable acquired in merger

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-135

135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on common stock repurchases, inclusive of fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

114

883

1,316

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Advances from related parties, net

-

-

-

-

-

-

-

-

-

-

1,285

2,140

1,713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-326

976

-991

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

153,539

3,930

142,929

150,757

2,387

108,085

113,020

58,516

32,571

61,989

-34,681

-42,620

-15,345

-115,758

-33,537

-35,577

-51,828

1,920

135,687

-26,674

7,886

219,288

-6,514

901,580

468,553

55,302

30,297

32,718

5,892

1,802

164

44

17

0

0

Net change in cash, cash equivalents and restricted cash

79,487

-60,194

122,823

88,401

496

-57,642

62,493

-8,241

2,233

26,716

2,043

-6,585

-855

29,522

10,011

-3,880

-23,812

37,420

-25,539

-25,304

12,118

-208,411

-656,874

653,395

267,929

-3,832

-15,087

21,883

6,098

252

0

0

0

0

0

Effect of exchange rate changes on cash

-5,972

24,569

-4,586

4,639

-5,554

2,656

-13

-4,983

-537

4,396

2,022

1,632

1,030

-5,786

-239

-1,406

-339

-2,347

-4,023

10,617

-473

9,147

-15,722

2,771

949

749

1,599

-171

-1

10

0

0

0

-

-

Supplemental Disclosures:
Cash paid for interest

14,700

13,053

14,602

15,133

15,535

11,347

12,785

13,453

11,528

11,175

11,639

10,315

10,426

10,607

4,509

12,828

8,251

8,503

6,055

5,211

4,856

1,509

2,631

2,322

78

119

74

13

12

0

0

0

0

-

-

Cash paid for income taxes

2,667

-112

1,514

501

3,140

0

1,538

215

2,597

4,999

1,329

636

2,473

751

740

249

2,038

-1,492

2,059

1,022

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage notes payable assumed or used to acquire investments in real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

121,171

-5,260

7,929

93,951

45,235

21,371

9,045

0

-

-

-

-

-

-

Borrowings under line of credit to acquire real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

137,462

237,568

35,263

36,265

-

-

-

-

-

-

-

-

-

-

Portion of derivative termination proceeds used to repay debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,893

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Common stock issued through dividend reinvestment plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,571

17,007

17,543

17,120

8,286

1,937

774

441

102

3

0

0

0

0

-

-

Deferred offering costs paid directly by affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

90

0

Series A Preferred Stock
Dividends paid on Preferred Stock

3,081

-

-

-

2,455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series B Preferred Stock
Dividends paid on Preferred Stock

577

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-