Global net lease, inc. (GNL)
CashFlow / TTM
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

47,801

46,476

29,255

21,946

14,361

10,897

23,636

23,491

20,948

23,586

31,208

37,737

48,469

47,577

43,955

40,427

-21,312

-2,015

-19,672

-49,718

-11,390

-53,594

-50,989

-29,521

-23,336

-6,989

-4,642

-1,645

-414

-413

-173

-80

0

0

0

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

71,787

69,257

64,863

63,776

65,732

64,849

63,473

62,307

60,955

59,385

56,628

54,005

52,007

50,333

50,518

50,459

49,371

47,649

40,121

36,664

29,341

20,856

16,142

7,447

3,219

837

343

82

29

12

0

0

0

-

-

Amortization of intangibles

56,439

56,739

59,222

58,885

55,657

54,733

54,589

55,438

54,475

53,663

51,267

47,493

45,806

44,122

44,450

43,976

43,341

42,421

39,298

34,932

27,806

19,531

12,252

6,505

3,217

1,275

516

93

22

9

0

0

0

-

-

Amortization of deferred financing costs

6,682

6,614

6,280

5,712

6,034

5,193

5,137

4,997

4,441

4,420

3,950

3,703

5,153

6,698

8,240

9,429

9,031

8,527

7,777

6,863

5,366

3,753

2,177

1,048

556

250

106

9

3

1

0

0

0

-

-

Amortization of mortgage discounts and premiums, net

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

-374

-249

-125

-1

0

0

0

-

-

-

-

-

-

Amortization of below-market lease liabilities

3,322

3,518

3,660

3,662

3,573

3,463

3,557

3,527

3,439

3,364

3,187

2,945

2,763

2,559

5,522

4,389

3,250

2,134

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of below-market lease liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

21

25

12

0

0

0

0

-

-

Amortization of above-market lease assets

4,056

4,328

4,400

4,463

4,523

4,614

4,644

4,628

4,533

4,346

3,849

3,288

2,789

2,335

2,262

2,287

2,292

2,315

2,826

2,249

1,604

1,085

0

0

0

-

-

-

-

-

-

-

-

-

-

Amortization of above- and below- market ground lease assets

816

845

872

958

965

979

986

973

984

948

763

535

321

183

127

139

129

71

101

75

50

32

0

0

0

-

-

-

-

-

-

-

-

-

-

Bad debt expense

-59

0

616

832

816

800

234

711

829

1,200

1,226

829

650

236

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled straight-line rent

6,661

6,800

6,535

6,521

6,423

6,300

6,341

6,919

8,125

10,500

11,528

11,994

11,677

10,600

11,295

12,343

13,172

14,809

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity-based compensation

9,909

9,530

8,490

8,042

5,590

2,649

21

-2,423

-4,635

-3,787

-1,269

415

2,720

3,748

2,317

2,818

3,354

2,345

0

0

0

-

-

-

25

24

20

16

15

11

7

3

0

0

0

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

-385

-2,919

3,879

3,424

9,225

7,127

3,240

-1,573

-10,940

-10,182

-6,361

-4,369

1,089

1,072

1,912

4,330

1,317

7,337

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized loss on undesignated foreign currency advances and other hedge ineffectiveness

0

-76

-528

-420

-467

-434

104

84

-2,840

-3,679

731

2,102

9,325

10,109

8,292

8,338

3,578

5,124

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for settlement of derivatives

1,160

1,879

3,699

3,699

2,645

1,926

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,558

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on disposition of real estate investments

22,724

23,616

14,792

5,882

-4,859

-5,751

-5,751

-3,543

132

1,089

13,110

14,155

14,298

13,341

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentive payment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized and unrealized marked-to-market transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-599

250

81

0

0

0

0

-

-

-

-

-

-

Appreciation of investment in securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-66

-27

-21

10

0

0

0

0

-

-

-

-

-

-

-

-

-

-

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

196

11,299

4,733

-3,372

5,200

463

14,368

10,967

5,302

6,225

3,052

1,168

1,204

1,151

-1,608

3,455

3,146

-31

15,065

10,192

-596

11,965

1,305

1,828

13,442

1,647

746

752

28

76

67

29

0

0

0

Deferred tax assets

-1,138

-1,148

-2,255

-2,282

-2,224

-2,264

675

639

534

549

1,259

1,284

1,349

1,342

340

-135

-147

-450

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due from affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

1,757

-9,730

-10,347

-10,129

-8,167

8,263

4,368

7,108

3,963

-593

-133

-2,255

-4,496

-3,010

-1,074

-205

1,941

4,859

8,593

9,729

11,526

11,183

7,949

7,342

5,364

1,888

898

408

108

29

8

45

0

0

0

Prepaid rent

-3,368

1,013

3,081

4,429

-673

-2,312

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Prepaid rent

-

-

-

-

-

-

-

-

-

-

-

-

874

-

1,150

2,498

2,231

3,239

4,785

7,652

8,183

10,390

6,277

2,979

2,193

917

883

315

49

0

0

0

0

-

-

Deferred tax liability

671

252

814

371

1,309

634

166

-391

-1,283

-1,804

-2,056

-1,627

-1,764

-978

-199

-165

106

249

-3,665

-3,665

-3,665

-3,665

0

0

0

-

-

-

-

-

-

-

-

-

-

Taxes payable

-48

-1,182

-922

-1,320

-900

-247

-5,872

-5,433

-6,544

-6,584

1,891

2,163

2,118

2,197

79

881

2,693

5,201

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

163,143

145,999

139,049

144,868

128,671

144,597

131,851

133,011

138,903

130,954

126,847

123,397

118,992

114,394

125,801

117,631

95,796

102,155

66,356

37,976

43,338

-9,693

-10,896

-5,796

-22,395

-3,647

-2,592

-1,440

-195

-418

-225

-61

0

0

0

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in real estate and real estate related assets

-

-

-

-

-

479,648

329,043

230,273

132,083

98,777

37,113

30,290

30,290

0

1

175,891

184,420

223,075

649,623

1,114,163

1,364,966

1,507,072

1,137,435

541,073

290,787

110,026

0

0

0

-

-

-

-

-

-

Deposits for real estate acquisitions

3,029

2,795

-2,724

-22,281

-5,550

0

3,775

24,551

6,750

0

0

0

0

-

-

-

-

-773

-8,996

-5,325

-741

775

9,972

6,458

2,795

1,474

0

0

0

-

-

-

-

-

-

Capital expenditures

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

-

-

-

-

-

1,454

4,529

3,123

2,838

3,118

1,203

541

474

200

453

8,373

8,757

10,495

19,080

11,160

10,690

8,838

0

0

0

-

-

-

-

-

-

-

-

-

-

Purchase of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Real Estate Held-for-investment

279,121

288,398

141,945

94,257

32,994

23,717

23,162

19,228

-148

12,292

106,826

120,240

120,240

107,800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for settlement of net investment hedges

-

-

-

-

-

-

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Payments for) proceeds from settlement of derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

10,055

10,055

10,055

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Advances from affiliates, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

13

-344

-425

-1,041

-450

333

495

786

721

295

0

0

0

Restricted cash acquired in merger transaction

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-8,483

-3,257

-2,779

0

7,192

2,012

2,264

737

0

0

0

-

-

-

-

-

-

Net cash used in investing activities

-383,781

-294,476

-389,129

-425,369

-413,573

-457,946

-314,746

-228,655

-131,755

-78,978

105,682

115,956

116,023

134,147

12,960

-183,644

-192,136

-222,279

-649,679

-1,110,433

-1,365,350

-1,517,175

-1,147,407

-547,531

-293,582

-111,500

0

0

0

-

-

-

-

-

-

Cash flows from financing activities:
Borrowings under revolving credit facilities

388,995

209,995

240,264

171,000

203,000

247,000

323,150

764,018

642,018

647,353

617,400

138,017

138,017

62,682

16,485

224,636

224,636

476,208

714,942

490,401

510,072

258,500

19,766

19,671

0

0

0

0

0

-

-

-

-

-

-

Repayments on revolving credit facilities

245,585

375,585

589,649

367,375

277,375

177,375

283,526

1,031,899

1,036,949

1,006,949

882,530

92,222

93,868

113,868

44,686

104,863

162,060

373,167

369,547

293,929

249,607

18,500

0

0

0

-

-

-

-

-

-

-

-

-

-

Repayment of mezzanine facility

-

-

-

-

-

-

-

-

-

56,537

108,340

108,340

108,340

51,803

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,505

12,505

13,119

12,813

0

0

0

0

-

-

-

-

-

-

Proceeds from mortgage notes payable

495,057

579,285

741,634

837,308

546,167

494,689

519,424

219,750

219,750

187,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on mortgage notes payable

350,919

433,555

303,443

501,055

394,556

313,225

317,677

25,522

23,017

21,918

34,652

34,757

13,394

13,377

747

740

726

721

165

156

145

135

505

338

174

0

0

0

0

-

-

-

-

-

-

Deposits on mortgages

0

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Stock Issuance Costs

0

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

595

8,947

111,403

168,270

175,537

171,522

74,426

18,770

11,191

7,125

1,775

748

696

434

0

0

0

Common stock issuance costs

-

258,422

336,225

322,428

321,981

171,770

0

0

0

-

-

-

-

0

49

164

178

469

174

22,378

1,050,638

1,569,082

1,635,171

1,649,950

660,374

148,871

85,059

47,963

9,270

2,031

200

200

0

0

0

Preferred stock issuance costs

0

-

0

0

0

-

0

0

130,015

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of financing costs

18,208

19,065

23,401

15,084

11,458

10,601

8,273

14,930

14,510

14,612

9,760

1,772

315

126

3,174

2,805

4,794

4,881

11,357

10,296

13,956

16,888

10,651

10,017

5,277

2,345

0

0

0

-

-

-

-

-

-

Dividends paid on Common Stock

155,147

150,779

142,233

133,936

154,881

147,444

144,498

143,641

143,279

142,739

136,843

131,106

125,659

120,386

119,804

119,985

113,482

97,730

81,842

64,647

47,655

35,415

22,574

10,085

3,751

1,769

831

237

47

1

0

0

0

-

-

Dividends paid on Preferred Stock

-

-

-

-

-

9,812

7,740

5,289

2,834

383

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Ordinary Dividends, Noncontrolling Interest

543

542

542

697

561

585

613

482

642

739

833

1,079

1,406

2,008

2,070

1,986

1,499

642

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments received on related party notes receivable acquired in merger

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on common stock repurchases, inclusive of fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,313

2,313

2,199

1,316

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Advances from related parties, net

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

451,155

300,003

404,158

374,249

282,008

312,192

266,096

118,395

17,259

-30,657

-208,404

-207,260

-200,217

-236,700

-119,022

50,202

59,105

118,819

336,187

193,986

1,122,240

1,582,907

1,418,921

1,455,732

586,870

124,209

70,709

40,576

7,902

2,027

225

61

0

0

0

Net change in cash, cash equivalents and restricted cash

230,517

151,526

154,078

93,748

-2,894

-1,157

83,201

22,751

24,407

21,319

24,125

32,093

34,798

11,841

19,739

-15,811

-37,235

-1,305

-247,136

-878,471

-199,772

56,039

260,618

902,405

270,893

9,062

13,146

28,233

6,350

252

0

0

0

0

0

Effect of exchange rate changes on cash

18,650

19,068

-2,845

1,728

-7,894

-2,877

-1,137

898

7,513

9,080

-1,102

-3,363

-6,401

-7,770

-4,331

-8,115

3,908

3,774

15,268

3,569

-4,277

-2,855

-11,253

6,068

3,126

2,176

1,437

-162

9

10

0

0

0

-

-

Supplemental Disclosures:
Cash paid for interest

57,488

58,323

56,617

54,800

53,120

49,113

48,941

47,795

44,657

43,555

42,987

35,857

38,370

36,195

34,091

35,637

28,020

24,625

17,631

14,207

11,318

6,540

5,150

2,593

284

218

99

25

12

0

0

0

0

-

-

Cash paid for income taxes

4,570

5,043

5,155

5,179

4,893

4,350

9,349

9,140

9,561

9,437

5,189

4,600

4,213

3,778

1,535

2,854

3,627

1,589

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

217,791

141,855

168,486

169,602

75,651

0

0

0

-

-

-

-

-

-

Borrowings under line of credit to acquire real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

446,558

0

0

0

-

-

-

-

-

-

-

-

-

-

Portion of derivative termination proceeds used to repay debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Common stock issued through dividend reinvestment plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,578

46,121

63,241

59,956

44,886

28,117

11,438

3,254

1,320

546

105

3

0

0

0

0

-

-

Deferred offering costs paid directly by affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

90

0

0

0

Series A Preferred Stock
Dividends paid on Preferred Stock

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series B Preferred Stock
Dividends paid on Preferred Stock

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-