GLADSTONE COMMERCIAL CORP GOODO Cash Flow

Gladstone commercial corp (GOODO)

CashFlow / Quarterly

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
2,258	473	2,190	2,205	4,673	2,517	2,677	2,525	4,605	-1,466	2,383	664	4,356	2,293	-73	885	853	2,566	-95	431	694	6,164	231	1,217	-13,514	333	311	450	433	614	992	854	1,301	1,116	1,748	1,370	1,480
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
14,096	13,428	12,979	12,622	13,010	12,454	11,808	11,772	11,586	12,122	10,828	9,924	9,921	9,721	9,458	9,205	9,133	9,128	9,006	8,947	8,207	7,757	7,516	6,871	6,720	6,453	6,253	5,220	4,901	4,659	4,276	3,992	3,904	3,676	3,628	3,475	3,370
Asset Impairment Charges
-	-	-	-	-	-	-	-	-	2,836	0	253	3,746	0	1,786	187	43	-	-	-	-	0	280	0	13,958	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Properties
-12	0	0	0	2,952	919	0	0	1,844	0	1	-1,914	5,906	266	-24	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
374	332	458	354	456	297	345	364	394	465	394	371	483	363	447	619	471	597	480	447	431	447	414	409	386	370	593	412	405	399	400	383	320	234	228	225	231
Amortization of deferred rent asset and liability, net
-462	-375	-391	-387	-293	69	-275	-261	-261	-218	-221	-205	-207	-300	-148	-113	-102	-121	-124	-129	-141	-123	-88	-86	-92	-90	-86	-59	-98	-239	-196	-169	-168	-103	-178	-159	-176
Amortization of discount and premium on assumed debt, net
15	15	15	16	16	16	17	16	-69	-19	-20	-30	-30	-30	-29	-56	-60	-83	-77	-77	-77	-77	-76	-70	-44	-43	-43	-43	-42	-36	13	16	16	16	16	29	33
Asset retirement obligation expense
26	38	18	31	32	31	30	30	30	29	31	31	34	34	41	36	37	38	38	38	38	200	41	43	-180	33	32	33	31	44	42	42	40	41	39	39	38
Operating changes in assets and liabilities
Decrease (increase) in other assets
-1,412	2,082	-646	-9	743	615	-628	-987	1,445	306	-55	896	719	-240	-92	94	-290	239	408	536	2	-57	-50	670	-298	641	-460	-247	465	-50	221	113	-73	-254	181	171	44
Increase in deferred rent liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	371	267	988
Increase in deferred rent receivable
214	29	578	289	581	640	573	631	704	640	888	754	795	643	821	872	1,087	1,430	1,191	987	856	422	1,030	872	906	976	1,035	863	826	955	450	385	354	343	336	371	344
Increase (decrease) in accounts payable, accrued expenses, and amount due to Adviser and Administrator
2,391	1,934	-936	1,007	-84	236	719	-263	57	-285	598	139	-976	692	895	-534	-121	-1,497	24	13	1,008	742	466	-632	-372	-832	325	-1,027	-637	-64	879	723	1,208	1,137	-957	-58	-626
Decrease in right-of-use asset from operating leases
-52	-	51	151	-50	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in operating lease liabilities
39	39	38	24	50	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in other liabilities
1,124	1,677	341	853	-796	1,317	-560	-1,166	655	-113	242	-343	735	-436	453	-99	-303	272	368	-382	-301	619	-347	626	-41	-261	1,837	125	-264	503	55	-203	388	-770	466	173	-209
Leasing commissions paid
715	302	639	98	138	0	20	4	378	360	24	1	167	239	142	114	372	1,083	241	226	65	261	133	711	54	33	614	10	384	200	437	0	1,101	-	-	-	-
Net cash provided by operating activities
20,330	17,128	14,116	16,350	12,600	14,808	14,796	13,369	12,626	12,045	13,377	10,945	10,475	11,346	11,983	9,050	8,782	6,610	8,402	7,539	8,936	9,518	7,635	4,885	6,159	4,313	8,033	4,485	3,054	4,775	7,863	5,140	5,627	5,252	4,844	4,819	4,741
Cash flows from investing activities:
Acquisition of real estate and related intangible assets
71,463	63,041	20,715	40,242	6,315	19,553	8,459	0	14,341	37,736	78,724	4,518	0	-	-	-	-	6,550	13,000	29,900	28,348	40,751	18,800	61,046	3,718	26,382	71,318	27,838	5,650	34,932	4,742	31,790	10,775	26,348	555	15,257	521
Improvements of existing real estate
2,031	4,309	1,034	1,398	829	1,834	325	1,244	925	983	1,437	1,832	4,964	2,082	1,139	969	1,685	1,720	1,897	1,375	1,697	931	2,482	1,261	1,673	-179	1,356	3,878	121	31	3,188	1,250	1,088	-	-	-	-
Proceeds from sale of real estate
3,947	0	0	0	6,318	2,062	0	0	10,773	0	4,209	12,892	12,398	3,409	2,822	200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Collection of mortgage note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receipts from lenders for funds held in escrow
21	1,240	206	227	991	483	189	580	517	3,590	392	212	3,108	981	28	576	2,143	3,995	2,310	574	68	1,241	383	791	496	-219	4,235	301	1,228	673	159	811	316	582	186	956	187
Payments to lenders for funds held in escrow
766	2,455	504	439	482	559	569	592	656	647	4,133	536	583	615	1,278	631	476	593	868	1,123	801	2,265	949	4,185	1,260	-553	5,514	815	830	2,057	1,020	1,601	785	617	932	1,362	465
Receipts from tenants for reserves
435	2,616	492	1,050	624	563	575	941	603	643	101	752	597	757	838	1,077	763	361	1,031	1,242	795	617	965	729	790	428	3,396	805	1,456	714	708	722	726	556	567	556	526
Payments to tenants from reserves
429	907	293	1,025	271	785	709	1,105	70	1,883	-472	822	433	1,679	714	767	738	819	684	797	511	406	469	1,088	2,335	1,782	1,009	617	541	896	481	888	278	711	358	932	30
Decrease (increase) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	-388	85	-556	414	486	314	6	425	-390	-1,545	-1,355	2,369	188	915	-181	226	-165	581	-94	210	-376	445
Deposits on future acquisitions
1,000	4,462	275	650	565	1,000	250	40	300	1,500	0	1,650	0	-	-	-	-	0	100	1,450	150	1,050	500	1,250	250	-	-	-	-	-	-	-	100	-	-	-	300
Deposits applied against acquisition of real estate investments
2,541	2,920	425	850	215	1,000	290	0	300	1,500	1,650	0	0	-	-	-	-	100	300	1,150	250	1,150	700	1,173	127	-	-	-	50	-	-	-	-	-	-	-	-
Net cash used in investing activities
-68,745	-68,398	-21,698	-41,627	-314	-19,623	-9,258	-1,460	-4,099	-37,016	-77,470	4,498	10,123	-24,602	-23,943	-17,126	5,822	2,013	-13,322	-32,465	-30,708	-42,401	-27,177	-54,585	-6,278	-26,068	-72,660	-33,005	-5,323	-36,398	-9,290	-33,731	-12,565	-27,638	-1,952	-15,363	-1,048
Cash flows from financing activities:
Proceeds from issuance of equity
28,296	93,296	7,485	19,454	14,292	6,061	6,725	4,176	1,603	16,369	44,713	20,521	4,657	27,363	53,330	34,869	2,800	10,670	9,132	12,228	18,135	31,295	6,594	28,335	7,707	25,982	4,920	50,735	6,484	3,088	581	288	234	50	3,054	21,060	15,543
Offering costs paid
323	2,811	123	318	179	95	106	68	26	268	1,500	341	81	532	1,120	1,195	52	174	150	200	542	697	415	1,525	503	1,430	350	2,785	398	175	60	32	33	5	209	1,214	984
Retirement of senior common stock
-	-	-	-	-	0	0	0	34	0	24	0	0	0	0	0	178	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of mandatorily redeemable preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	38,500	-	-	-	-
Borrowings under mortgage notes payable
35,855	28,510	0	30,500	10,640	0	4,745	0	9,380	0	44,508	6,700	0	22,700	18,100	19,430	18,475	7,440	9,240	37,246	14,573	-	-	-	-	23,887	52,408	0	3,700	-	-	-	-	-	-	-	-
Payments of Financing Costs
382	405	1,362	434	279	55	92	41	212	1,008	578	397	17	476	334	310	380	723	274	667	216	318	78	273	360	567	1,275	68	141	1,115	465	631	2,387	587	252	215	11
Repayments of Secured Debt
3,162	9,322	17,158	24,266	6,692	2,962	2,890	2,906	19,092	2,898	16,609	2,510	38,063	21,780	15,142	28,443	23,534	29,498	13,591	21,380	2,245	2,059	1,903	2,010	2,172	11,004	1,843	1,752	1,808	46,741	1,227	1,015	3,302	726	1,131	3,617	837
Borrowings from revolving credit facility
36,900	70,900	46,600	34,200	13,700	31,200	7,000	15,200	35,200	27,100	39,800	11,500	38,500	-3,100	61,500	55,200	15,800	3,800	16,800	34,400	22,000	31,200	23,000	31,550	12,700	16,500	35,200	15,800	7,900	22,500	5,500	0	13,800	19,100	12,000	8,174	19,200
Repayments on revolving credit facility
67,700	54,300	61,800	16,000	31,500	11,500	9,500	14,500	23,900	49,900	33,400	37,900	14,000	4,500	75,000	37,500	18,000	14,000	6,500	30,500	24,000	33,500	3,050	30,000	13,000	21,000	17,500	31,000	6,500	3,000	0	0	32,500	9,500	11,100	20,874	25,300
Principal repayments on employee notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	35	-	-	-	-	5	5	1	531
Borrowings on term loan
37,700	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in security deposits
12	-86	0	35	-141	109	0	0	-26	104	183	-270	-78	-51	-24	38	59	-98	30	78	30	-	-	-	-	-	-	-	-	0	1	0	133	59	1	0	-51
Distributions paid for common, senior common, preferred stock and Non-controlling OP Unitholders
15,738	15,377	14,759	14,559	14,192	13,950	13,635	13,506	13,474	13,278	12,971	12,176	11,983	11,632	11,096	10,030	9,736	9,618	9,334	9,117	8,802	8,286	7,764	7,327	6,986	6,597	6,407	5,666	5,270	5,170	5,150	5,146	5,147	5,143	5,165	4,779	4,523
Net cash provided by (used in) financing activities
51,458	53,805	6,183	28,612	-14,351	8,822	-7,753	-11,645	-10,581	26,231	64,122	-14,873	-21,065	7,992	16,714	7,059	-14,746	-7,201	5,353	22,463	18,933	36,245	22,412	46,254	-2,614	25,770	65,135	25,264	4,002	22,387	11,936	27,175	9,298	23,305	-2,797	-1,464	3,568
Net increase (decrease) in cash, cash equivalents, and restricted cash
3,043	2,535	-1,399	3,335	-2,065	4,007	-2,215	264	-2,054	1,260	29	570	-467	-5,264	4,754	-1,017	-142	1,422	433	-2,463	-2,839	3,362	2,870	-3,446	-2,733	4,015	508	-3,256	1,733	-9,236	10,509	-1,416	2,360	919	95	-12,008	7,261
Fixed rate principal debt assumed in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,817	6,330	-	-	-	-	-	-	-	-	-	-	-	-
Tenant funded fixed asset improvements
353	122	1,020	630	1,015	1,294	287	0	27	817	630	1,571	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assumed tenant improvement allowance in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	35	21	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax
-2,528	-	-	-	-722	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use asset from operating leases
0	-	0	0	5,998	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities
0	-	0	0	5,998	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital improvements and leasing commissions included in accounts payable and accrued expenses
85	19	-440	572	239	-195	475	-582	613	-558	22	182	1,849	1,252	-438	-368	2,829	-466	2,032	-1,480	4,402	-264	253	4,850	671	-	-	-	-	-	-	-	-	-	-	-	-
Non-controlling OP Units issued in connection with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	1	1	51	69	55	48	39	41	33	30	22	15	7	3	1	-	-	-	-
Non-controlling OP Units issued in connection with acquisition
502	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized (loss) gain related to interest rate hedging instruments, net
-	-	-	-	-	-1,211	245	288	495	-137	-7	179	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-