GRAMERCY PROPERTY TRUST GPT Cash Flow

Gramercy property trust (GPT)

CashFlow / Quarterly

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
GPT Operating Partnership LP
Operating Activities:
Net income
25,277	27,864	18,381	50,462	7,959	9,281	6,182	-728	28,964	-1,053	-50,405	2,010	-286	-38	-5,723	51,920	5,153	3,319	305,518	859	-3,640	82,090	-26,571	-12,384	-1,898	-2,155	-4,851	-2,446	-9,375	-2,613
Adjustments to net cash provided by operating activities:
Gain on Interest Rate Swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14	26	-	-	-	-	-	-	-	-	-	-	-	-
Gain on Interest Rate Swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	265	2,383	-917	184	134	121	125	220	32	-109	254
Prepaid Tenant Improvement Amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Lease Inducement Amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on Note Payable at Fair Value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25	-35	-	-	-	-
Loss on Note Payable at Fair Value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	27
Gain on Conversion of Equity Investment to Controlling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,667	-33	77,235	0	0	0	0	-	-	-	-
Depreciation and amortization
68,479	71,516	72,512	66,761	62,176	62,217	59,988	62,863	60,538	58,248	29,120	25,120	24,716	18,698	13,957	-31,913	27,126	27,238	-69,026	26,635	26,770	22,004	18,903	33,231	10,900	10,619	34,891	9,756	8,919	7,849
Amortization of market lease intangibles
-1,313	-392	-440	687	-4,680	-547	-367	-4,559	-5,610	-163	-1,884	-4,298	-2,120	-3,947	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred costs
827	825	726	584	659	615	542	498	-1,996	2,675	1,519	840	751	601	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discounts and other fees
-587	-632	-853	-16	442	-409	-178	-1,534	-993	-1,109	-1,143	-933	-914	-222	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of lease inducement costs
-	-	-	-	-	-	87	86	87	86	86	87	52	44	-	-	-	-	-	-	-	-	-	-	164	155	-	139	105	78
Straight-line rent adjustment
-5,803	-7,025	-7,937	-7,723	-7,458	-7,260	-6,464	-6,368	-5,955	-6,761	-3,466	-3,456	-3,312	-2,172	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment on retained bonds
0	0	0	0	0	4,890	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment losses
4,601	0	16,407	3,064	5,580	12,771	10,142	1,053	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on disposals
4,523	16,255	22,550	4,879	2,002	17,377	1,950	2,336	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions received from unconsolidated equity investments
555	0	325	8,516	337	352	2,656	34,460	3,814	9,961	5,395	103	103	103	104	-19,340	12,533	10,076	-22,893	11,189	8,779	10,910	9,502	9,318	11,779	9,406	6,466	5,356	6,410	5,434
Equity in net (income) loss of unconsolidated equity investments
-1,838	-926	-636	48,730	248	-94	6,470	-1,138	-168	-2,755	-	-	-	-	-	-	4,612	2,826	-	3,324	2,575	4,364	1,403	927	1,087	542	-570	609	341	3,210
Equity in net (income) loss of unconsolidated equity investments
-	-	-	-	-	-	-	-	-	-	-	-1,096	123	-1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on extinguishment of debt
83	0	-11	-6,751	268	-208	0	-13,777	-1,356	-3,827	-9,472	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of Non-Cash Interest Expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-338	-313	-	-208	-91	80
Amortization of Non-Cash Interest Expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-244	-104	-	-243	-374	156	337	-424	481	468	-196	611	416	399
Amortization of Acquired In-Place Lease Value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,921	7,202	-	-	-	-
Amortization of Acquired In-Place Lease Value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,347
Amortization of Above and Below Market Leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,401	1,482	-	1,957	1,698	1,373	1,174	-190	887	614	644	717	593	177
Amortization of share-based compensation
1,948	1,856	2,012	1,993	2,004	2,054	1,652	1,282	1,272	1,150	3,934	945	950	733	576	-17	912	1,012	-3,205	798	4,116	440	230	15	200	0	-	-	-	-
Amortization of stock-based compensation
1,948	1,856	2,012	1,993	2,004	2,054	-	-	-	-	-	-	-	-	-	-17	912	1,012	-	798	4,116	440	230	15	200	0	-	-	-	-
Straight-Line Rent Adjustment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,254	1,291	-	3,381	2,622	1,883	2,018	1,711	1,786	1,976	-	-	-	-
Changes in operating assets and liabilities:
Restricted cash
-	-	-	-	-	-	-	-1,049	4,882	-5,598	-	-25	512	451	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of capitalized leasing costs
6,927	4,526	6,262	1,483	2,218	3,790	1,706	2,352	5,585	3,973	131	2,163	695	143	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant and other receivables
-4,094	-3,253	6,471	1,521	-8,324	-11,707	-1,163	8,048	9,691	2,151	-6,820	838	-5,545	6,124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued interest
-	-	-	-	-	-	-	-	-	-	-	10	10	10	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant and Other Receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	559	1,297	-	823	3,549	-394	-2,186	3,013	166	646	-1,245	1,124	124	-644
Deferred Rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,663
Other assets
-913	1,401	-44,327	36,043	-1,243	4,368	-5,576	9,180	-3,039	10,519	918	-7,530	3,352	-7,686	7,796	4,629	-704	-337	-23,852	5,768	2,514	1,860	1,069	1,677	246	88	1,976	198	-209	4
Accounts payable and accrued expenses
1,586	-8,050	-4,494	13,120	-4,576	-9,755	-7,909	10,111	6,682	-33,738	-23,952	2,960	-1,773	-147	7,894	10,357	-59	-6,185	-6,856	5,816	1,070	-2,392	4,738	20,423	586	6,734	-1,531	1,599	3,359	794
Other liabilities
-452	4,864	-4,405	10,404	309	-2,204	1,836	873	-6,234	-3,085	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-149	301	3,841	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment and Property Management Fees Payable to Related Party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,673	1,999	-	336	-1,369	1,698
Net cash provided by operating activities
75,460	72,823	102,652	61,604	67,583	58,479	63,015	91,935	52,554	21,748	-28,642	28,428	19,130	18,443	8,567	-48,630	41,115	31,735	-62,645	36,689	24,809	30,550	7,593	29,541	25,043	31,387	15,495	17,700	12,777	12,783
Investing Activities:
Capital expenditures
46,693	17,825	-	-	27,690	18,429	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
-	-	-	-	-	-	24,718	9,237	3,058	6,416	2,215	593	573	1,196	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from investing activities received from unconsolidated equity investments
-	-	-	-	-	-	13,344	37,180	0	47,408	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of Real Property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	27,450	-	51,356	0	63,101	139,191	62,960	73	64,267	39,956	51,083	101,860	0
Proceeds from sales of real estate
19,049	108,032	154,677	20,582	174,500	33,053	114,642	331,913	112,776	416,094	5,017	68,779	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return of restricted cash held in escrow for 1031 exchange
-	-	-	-	-	-	-	114,439	-102,592	145,500	-	3,338	-3,338	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions to unconsolidated equity investments
40,209	5,856	11,236	13,375	4,750	2,650	0	1,066	27,776	4,790	15,125	8,642	1,590	602	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of real estate
23,751	10,971	52,052	845,208	185,077	99,612	519,095	236,329	251,393	52,874	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of real estate
-	-	-	-	-	-	-	-	-	-	-	92,324	364,080	423,147	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash for tenant improvements
-	-	-	-	-	-	-	-7,256	-3,106	-198	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash for tenant improvements
-	-	-	-	-	-	-	-	-	-	-	-	-	5,631	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from servicing advances receivable
-	-	-	-	-	-	0	0	0	1,390	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease Commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	414	1,396	-	117	219	68	640	510	155	529	213	257	874	1,003
Improvements to Variable Interest Entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,653	39	3,562	19,921	9,716	26,361	0	-	-	-	-
Improvements to Investments in Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,804	398	-	1,685	2,422	2,539	-454	1,212	-8,273	10,258	1,578	1,929	5,138	1,155
Net cash used in investing activities
-102,089	73,380	70,146	-763,954	-43,017	-87,638	-266,378	14,876	85,533	255,510	-1,914	-36,756	-363,544	-430,576	-167,688	-291,282	3,833	-16,037	28,937	-168,422	-3,549	-73,058	-192,636	-40,379	-20,604	-86,093	-110,439	-63,409	-108,708	-50,610
Financing Activities:
Proceeds from unsecured term loan and credit facility
165,257	164,922	250,000	650,000	95,000	60,000	230,000	133,306	98,160	75,000	1,608,492	110,120	340,000	235,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Additional Paid-in-Capital-Public Offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	171,085	-	181,664	162,782	88,009
Redemption of Common Shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,204	17,313	26,912	17,024	16,267	10,170	9,451	13,763	9,250	10,791	5,436
Repurchase and Cancellation of Vested Shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	247	-	1,585	0	0	-	-	-	-	-	-	-	-
Payment of Distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,863	29,797	-	35,485	20,489	20,622	20,457	20,376	19,949	18,048	16,642	15,318	14,448	13,795
Distribution to Non-Controlling Interest OperatingPartnership Units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,316	37	37	37	37	37	37	37	37	37	37
Acquisition of Non-Controlling InterestVariable Interest Entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,605	0	-826	-	0	0	140	686	0	0	0
Distribution to Non-Controlling Interest-Variable Interest Entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Proceeds from senior unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	10,000	-	144,000	190,000	30,044	265,000	0	0	0	0	20,000	0	30,000
Proceeds from senior unsecured notes
-	-	-	-	-	-	-	-	-	50,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of unsecured term loans and credit facility
15,000	230,000	282,926	106,818	150,000	5,000	322,199	140,000	50,000	250,000	1,516,806	90,000	225,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of secured credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	10,000	-	-	-	-	-	-	-	-	-	-	-	-
Principal Payments on Unsecured Revolving Credit Facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	304,044	0	225,000	0	25,000	0	0	0	20,000	30,000	35,000
Proceeds from mortgage notes payable
0	0	0	0	0	2,582	0	0	0	9,550	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of mortgage notes payable
59,718	3,545	112,513	3,708	54,099	3,915	3,758	36,087	16,990	198,189	1,887	1,578	1,500	971	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Unsecured Term Loan Facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	320,000	0	250,000	0	0	0	0	0	0	11,700	70,000
Principal Payments on Secured Notes Payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,022	23,991	-	3,997	27,164	2,864	126,214	3,678	3,542	3,838	17,406	25,339	21,124	3,861
Offering costs
0	0	94	1,791	11,740	606	120	105	0	0	-31	-3	11,793	331	16,790	11,431	98	62	-6,633	4,728	264	1,641	26	5,914	0	480	313	-134	1,155	1,167
Proceeds from sale of common shares
0	0	43	104,973	285,682	20,081	16	0	0	0	0	0	273,737	16,173	-	-	-	-	-	-	-	-	0	150,642	1	171	586,517	181	164	88
Payment of deferred financing costs
0	0	2,635	1,506	-39	252	4,951	0	1,183	551	15,122	1,328	26	3,248	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt extinguishment costs
-	-	-	-	-	-	0	32	2,033	13,803	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance costs for Series B stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	190	20,250	-	19,793	17,610	10,017
Preferred share dividends paid
1,558	1,559	1,558	1,559	1,558	1,559	1,558	1,559	1,558	1,559	1,558	1,559	1,558	1,559	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common share dividends paid
60,607	60,568	60,630	57,526	53,352	53,025	46,697	46,629	46,439	8,736	23,331	12,692	9,491	9,354	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of share options and purchases under the employee share purchase plan
-	-	-	-	-	-	0	0	0	167	26	22	18	14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from noncontrolling interests in other entities
-	-	-	-	-	-	-	-	-	-	0	0	0	169	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distribution to noncontrolling interest in the Operating Partnership
1,774	1,402	927	81	87	118	103	126	148	29	103	103	98	117	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing activities
60	-138	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in Unconsolidated Entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32,775	0	2,029	10,764	62,559	31,200	980	46,893
Distributions from Unconsolidated Entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,504	10,186	-	0	0	0	-	-	-	-	-	-	-	-
Change in restricted cash from financing activities
-	-	-	-	-	-	-	-37	-13	-12	-	-12	-13	-12	-182	-2,686	-578	3,021	27,197	408	-869	-3,788	-563	1,066	-2,659	-275	-3,903	-1,367	-1,025	-1,559
Security Deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-82	299	42	-	51	-260	3
Net cash provided by (used in) financing activities
41,630	-132,290	-210,816	579,409	109,885	18,188	200,692	-235,332	-20,204	-338,162	145,995	2,873	364,276	235,764	335,103	348,148	-33,983	-54,097	16,709	106,036	-267	2,142	100,983	-71,358	-33,587	119,334	154,213	112,293	79,221	118,787
Net increase in cash, cash equivalents, and restricted cash
15,001	13,913	-	-	134,451	-10,971	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in cash, cash equivalents, and restricted cash related to foreign currency translation
-239	138	-	-	27	-105	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-128,521	117,883	-60,904	-	-5,455	19,862	-176,369	175,982	8,221	11,023	-38,442	-16,964	-25,611	21,169	-40,663	-84,054	-82,380	-29,131	64,643	59,478	66,372	-16,747	80,956
Increase (decrease) in cash, cash equivalents, and restricted cash related to foreign currency translation
-	-	-	-	-	-	-84	-268	134	-3	76	-32	18	15	-	-	58	-43	35	86	176	-297	7	-185	17	15	209	-212	-37	-4
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-20,406	14,166	14,298	-	11,916	10,827	8,342	8,342	3,668	12,387	8,659	9,334	9,174	8,024	5,379
Conversion of Duke joint venture Equity Investment to Controlling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Share Awards Increase in Additional Paid-In-Capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	215	0	0	-	-	-	-
Accrued Offering Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-362	899	1,018
Accounts Payable and Accrued Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	372	58	-	-688	-932	2,458	-9,499	9,072	731	2,960	3,305	0	0	0
Notes Payable Assumed on Acquisitions of Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	216,011	0	0	0	0	-	-	-	-
Proceeds from Dividend Reinvestment Program
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,737	-	11,806	10,860	10,258
Application of Deposit to Investment in Unconsolidated Entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	7,500
JV Contribution/DistributionExpansion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	19	-224	47	583	291	5,759	7,603	10,763	1,239
Proceeds from Dividend Reinvestment Program
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	16,783	16,796	-	-	-	-	-	-	-	-
Conversion of Duke JV Equity Investment to Controlling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	32	139,738	-	-	-	-	-	-	-	-
Accrued Offering Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-239	242	-	-	-	-