GLADSTONE COMMERCIAL CORP GOOD Cash Flow

Gladstone commercial corp (GOOD)

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
Cash flows from operating activities:
Net income
7,126	9,541	11,585	12,072	12,392	12,324	8,341	8,047	6,186	5,937	9,696	7,240	7,461	3,958	4,231	4,209	3,755	3,596	7,194	7,520	8,306	-5,902	-11,733	-11,653	-12,420	1,527	1,808	2,489	2,893	3,761	4,263	5,019	5,535	5,714	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
53,125	52,039	51,065	49,894	49,044	47,620	47,288	46,308	44,460	42,795	40,394	39,024	38,305	37,517	36,924	36,472	36,214	35,288	33,917	32,427	30,351	28,864	27,560	26,297	24,646	22,827	21,033	19,056	17,828	16,831	15,848	15,200	14,683	14,149	0	0	0
Asset Impairment Charges
-	-	-	-	-	-	-	-	-	6,835	3,999	5,785	5,719	2,016	0	0	0	-	-	-	-	14,238	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Properties
-12	2,952	3,871	3,871	3,871	2,763	1,844	1,845	-69	3,993	4,259	4,234	6,148	242	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
1,518	1,600	1,565	1,452	1,462	1,400	1,568	1,617	1,624	1,713	1,611	1,664	1,912	1,900	2,134	2,167	1,995	1,955	1,805	1,739	1,701	1,656	1,579	1,758	1,761	1,780	1,809	1,616	1,587	1,502	1,337	1,165	1,007	918	0	0	0
Amortization of deferred rent asset and liability, net
-1,615	-1,446	-1,002	-886	-760	-728	-1,015	-961	-905	-851	-933	-860	-768	-663	-484	-460	-476	-515	-517	-481	-438	-389	-356	-354	-327	-333	-482	-592	-702	-772	-636	-618	-608	-616	0	0	0
Amortization of discount and premium on assumed debt, net
61	62	63	65	65	-20	-55	-92	-138	-99	-110	-119	-145	-175	-228	-276	-297	-314	-308	-307	-300	-267	-233	-200	-173	-171	-164	-108	-49	9	61	64	77	94	0	0	0
Asset retirement obligation expense
113	119	112	124	123	121	119	120	121	125	130	140	145	148	152	149	151	152	314	317	322	104	-63	-72	-82	129	140	150	159	168	165	162	159	157	0	0	0
Operating changes in assets and liabilities
Decrease (increase) in other assets
15	2,170	703	721	-257	445	136	709	2,592	1,866	1,320	1,283	481	-528	-49	451	893	1,185	889	431	565	265	963	553	-364	399	-292	389	749	211	7	-33	25	142	0	0	0
Increase in deferred rent liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,626	0	0	0
Increase in deferred rent receivable
1,110	1,477	2,088	2,083	2,425	2,548	2,548	2,863	2,986	3,077	3,080	3,013	3,131	3,423	4,210	4,580	4,695	4,464	3,456	3,295	3,180	3,230	3,784	3,789	3,780	3,700	3,679	3,094	2,616	2,144	1,532	1,418	1,404	1,394	0	0	0
Increase (decrease) in accounts payable, accrued expenses, and amount due to Adviser and Administrator
4,396	1,921	223	1,878	608	749	228	107	509	-524	453	750	77	932	-1,257	-2,128	-1,581	-452	1,787	2,229	1,584	204	-1,370	-1,511	-1,906	-2,171	-1,403	-849	901	2,746	3,947	2,111	1,330	-504	0	0	0
Decrease in right-of-use asset from operating leases
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in operating lease liabilities
140	151	112	74	50	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in other liabilities
3,995	2,075	1,715	814	-1,205	246	-1,184	-382	441	521	198	409	653	-385	323	238	-45	-43	304	-411	597	857	-23	2,161	1,660	1,437	2,201	419	91	743	-530	-119	257	-340	0	0	0
Leasing commissions paid
1,754	1,177	875	256	162	402	762	766	763	552	431	549	662	867	1,711	1,810	1,922	1,615	793	685	1,170	1,159	931	1,412	711	1,041	1,208	1,031	1,021	1,738	0	0	0	-	-	-	-
Net cash provided by operating activities
67,924	60,194	57,874	58,554	55,573	55,599	52,836	51,417	48,993	46,842	46,143	44,749	42,854	41,161	36,425	32,844	31,333	31,487	34,395	33,628	30,974	28,197	22,992	23,390	22,990	19,885	20,347	20,177	20,832	23,405	23,882	20,863	20,542	19,656	0	0	0
Cash flows from investing activities:
Acquisition of real estate and related intangible assets
195,461	130,313	86,825	74,569	34,327	42,353	60,536	130,801	135,319	120,978	0	0	0	-	-	-	-	77,798	111,999	117,799	148,945	124,315	109,946	162,464	129,256	131,188	139,738	73,162	77,114	82,239	73,655	69,468	52,935	42,681	0	0	0
Improvements of existing real estate
8,772	7,570	5,095	4,386	4,232	4,328	3,477	4,589	5,177	9,216	10,315	10,017	9,154	5,875	5,513	6,271	6,677	6,689	5,900	6,485	6,371	6,347	5,237	4,111	6,728	5,176	5,386	7,218	4,590	5,557	0	0	0	-	-	-	-
Proceeds from sale of real estate
3,947	6,318	8,380	8,380	8,380	12,835	10,773	14,982	27,874	29,499	32,908	31,521	18,829	6,431	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Collection of mortgage note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	5,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receipts from lenders for funds held in escrow
1,694	2,664	1,907	1,890	2,243	1,769	4,876	5,079	4,711	7,302	4,693	4,329	4,693	3,728	6,742	9,024	9,022	6,947	4,193	2,266	2,483	2,911	1,451	5,303	4,813	5,545	6,437	2,361	2,871	1,959	1,868	1,895	2,040	1,911	0	0	0
Payments to lenders for funds held in escrow
4,164	3,880	1,984	2,049	2,202	2,376	2,464	6,028	5,972	5,899	5,867	3,012	3,107	3,000	2,978	2,568	3,060	3,385	5,057	5,138	8,200	8,659	5,841	10,406	7,036	6,606	9,216	4,722	5,508	5,463	4,023	3,935	3,696	3,376	0	0	0
Receipts from tenants for reserves
4,593	4,782	2,729	2,812	2,703	2,682	2,762	2,288	2,099	2,093	2,207	2,944	3,269	3,435	3,039	3,232	3,397	3,429	3,685	3,619	3,106	3,101	2,912	5,343	5,419	6,085	6,371	3,683	3,600	2,870	2,712	2,571	2,405	2,205	0	0	0
Payments to tenants from reserves
2,654	2,496	2,374	2,790	2,870	2,669	3,767	2,586	2,303	2,666	2,462	3,648	3,593	3,898	3,038	3,008	3,038	2,811	2,398	2,183	2,474	4,298	5,674	6,214	5,743	3,949	3,063	2,535	2,806	2,543	2,358	2,235	2,279	2,031	0	0	0
Decrease (increase) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-759	-445	429	658	1,220	1,231	355	-1,504	-2,865	-921	-343	2,117	3,291	1,148	795	461	548	532	321	185	0	0	0
Deposits on future acquisitions
6,387	5,952	2,490	2,465	1,855	1,590	2,090	1,840	3,450	3,150	0	0	0	-	-	-	-	1,700	2,750	3,150	2,950	3,050	0	0	0	-	-	-	-	-	-	-	0	-	-	-	0
Deposits applied against acquisition of real estate investments
6,736	4,410	2,490	2,355	1,505	1,590	2,090	3,450	3,450	3,150	0	0	0	-	-	-	-	1,800	2,850	3,250	3,273	3,150	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-200,468	-132,037	-83,262	-70,822	-30,655	-34,440	-51,833	-120,045	-114,087	-99,865	-87,451	-33,924	-55,548	-59,849	-33,234	-22,613	-37,952	-74,482	-118,896	-132,751	-154,871	-130,441	-114,108	-159,591	-138,011	-137,056	-147,386	-84,016	-84,742	-91,984	-83,224	-75,886	-57,518	-46,001	0	0	0
Cash flows from financing activities:
Proceeds from issuance of equity
148,531	134,527	47,292	46,532	31,254	18,565	28,873	66,861	83,206	86,260	97,254	105,871	120,219	118,362	101,669	57,471	34,830	50,165	70,790	68,252	84,359	73,931	68,618	66,944	89,344	88,121	65,227	60,888	10,441	4,191	1,153	3,626	24,398	39,707	0	0	0
Offering costs paid
3,575	3,431	715	698	448	295	468	1,862	2,135	2,190	2,454	2,074	2,928	2,899	2,541	1,571	576	1,066	1,589	1,854	3,179	3,140	3,873	3,808	5,068	4,963	3,708	3,418	665	300	130	279	1,461	2,412	0	0	0
Retirement of senior common stock
-	-	-	-	-	34	34	58	58	24	24	0	0	178	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of mandatorily redeemable preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38,500	0	0	0	-	-	-	-
Borrowings under mortgage notes payable
94,865	69,650	41,140	45,885	15,385	14,125	14,125	53,888	60,588	51,208	73,908	47,500	60,230	78,705	63,445	54,585	72,401	68,499	0	0	0	-	-	-	-	79,995	0	0	0	-	-	-	-	-	-	-	-
Payments of Financing Costs
2,583	2,480	2,130	860	467	400	1,353	1,839	2,195	2,000	1,468	1,224	1,137	1,500	1,747	1,687	2,044	1,880	1,475	1,279	885	1,029	1,278	2,475	2,270	2,051	2,599	1,789	2,352	4,598	4,070	3,857	3,441	1,065	0	0	0
Repayments of Secured Debt
53,908	57,438	51,078	36,810	15,450	27,850	27,786	41,505	41,109	60,080	78,962	77,495	103,428	88,899	96,617	95,066	88,003	66,714	39,275	27,587	8,217	8,144	17,089	17,029	16,771	16,407	52,144	51,528	50,791	52,285	6,270	6,174	8,776	6,311	0	0	0
Borrowings from revolving credit facility
188,600	165,400	125,700	86,100	67,100	88,600	84,500	117,300	113,600	116,900	86,700	108,400	152,100	129,400	136,300	91,600	70,800	77,000	104,400	110,600	107,750	98,450	83,750	95,950	80,200	75,400	81,400	51,700	35,900	41,800	38,400	44,900	53,074	58,474	0	0	0
Repayments on revolving credit facility
199,800	163,600	120,800	68,500	67,000	59,400	97,800	121,700	145,100	135,200	89,800	131,400	131,000	135,000	144,500	76,000	69,000	75,000	94,500	91,050	90,550	79,550	67,050	81,500	82,500	76,000	58,000	40,500	9,500	35,500	42,000	53,100	73,974	66,774	0	0	0
Principal repayments on employee notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35	0	0	0	-	-	-	-	542	0	0	0
Borrowings on term loan
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in security deposits
-39	-192	3	3	-32	83	78	261	-9	-61	-216	-423	-115	22	-25	29	69	40	0	0	0	-	-	-	-	-	-	-	-	134	193	193	193	9	0	0	0
Distributions paid for common, senior common, preferred stock and Non-controlling OP Unitholders
60,433	58,887	57,460	56,336	55,283	54,565	53,893	53,229	51,899	50,408	48,762	46,887	44,741	42,494	40,480	38,718	37,805	36,871	35,539	33,969	32,179	30,363	28,674	27,317	25,656	23,940	22,513	21,256	20,736	20,613	20,586	20,601	20,234	19,610	0	0	0
Net cash provided by (used in) financing activities
140,058	74,249	29,266	15,330	-24,927	-21,157	-3,748	68,127	64,899	54,415	36,176	-11,232	10,700	17,019	1,826	-9,535	5,869	39,548	82,994	100,053	123,844	102,297	91,822	134,545	113,555	120,171	116,788	63,589	65,500	70,796	71,714	56,981	28,342	22,612	0	0	0
Net increase (decrease) in cash, cash equivalents, and restricted cash
7,514	2,406	3,878	3,062	-9	2	-2,745	-501	-195	1,392	-5,132	-407	-1,994	-1,669	5,017	696	-750	-3,447	-1,507	930	-53	53	706	-1,656	-1,466	3,000	-10,251	-250	1,590	2,217	12,372	1,958	-8,634	-3,733	0	0	0
Fixed rate principal debt assumed in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Tenant funded fixed asset improvements
2,125	2,787	3,959	3,226	2,596	1,608	1,131	1,474	3,045	3,018	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assumed tenant improvement allowance in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use asset from operating leases
0	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities
0	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital improvements and leasing commissions included in accounts payable and accrued expenses
236	390	176	1,091	-63	311	-52	-505	259	1,495	3,305	2,845	2,295	3,275	1,557	4,027	2,915	4,488	4,690	2,911	9,241	5,510	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-controlling OP Units issued in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	52	122	176	223	211	183	161	143	126	100	74	47	26	0	0	0	-	-	-	-
Non-controlling OP Units issued in connection with acquisition
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized (loss) gain related to interest rate hedging instruments, net
-	-	-	-	-	-183	891	639	530	35	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-