Gramercy property trust (GPT)
CashFlow / TTM
Jun'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'11Jun'11Mar'11
GPT Operating Partnership LP
Operating Activities:
Net income

121,984

104,666

86,083

73,884

22,694

43,699

33,365

-23,222

-20,484

-49,734

-48,719

-4,037

45,873

51,312

54,669

365,910

314,849

306,056

384,827

52,738

39,495

41,237

-43,008

-21,288

-11,350

-18,827

-19,285

0

0

0

Adjustments to net cash provided by operating activities:
Gain on Interest Rate Swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on Interest Rate Swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,915

1,784

-478

564

600

498

268

397

0

0

0

Prepaid Tenant Improvement Amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Lease Inducement Amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss on Note Payable at Fair Value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Loss on Note Payable at Fair Value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Gain on Conversion of Equity Investment to Controlling Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75,535

77,202

77,235

0

0

0

0

-

-

-

-

Depreciation and amortization

279,268

272,965

263,666

251,142

247,244

245,606

241,637

210,769

173,026

137,204

97,654

82,491

25,458

27,868

36,408

-46,575

11,973

11,617

6,383

94,312

100,908

85,038

73,653

89,641

66,166

64,185

61,415

0

0

0

Amortization of market lease intangibles

-1,458

-4,825

-4,980

-4,907

-10,153

-11,083

-10,699

-12,216

-11,955

-8,465

-12,249

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred costs

2,962

2,794

2,584

2,400

2,314

-341

1,719

2,696

3,038

5,785

3,711

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discounts and other fees

-2,088

-1,059

-836

-161

-1,679

-3,114

-3,814

-4,779

-4,178

-4,099

-3,212

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease inducement costs

-

-

-

-

-

-

346

345

346

311

269

0

0

0

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Straight-line rent adjustment

-28,488

-30,143

-30,378

-28,905

-27,550

-26,047

-25,548

-22,550

-19,638

-16,995

-12,406

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairment on retained bonds

0

0

4,890

4,890

4,890

4,890

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment losses

24,072

25,051

37,822

31,557

29,546

23,966

11,195

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on disposals

48,207

45,686

46,808

26,208

23,665

21,663

4,286

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions received from unconsolidated equity investments

9,396

9,178

9,530

11,861

37,805

41,282

50,891

53,630

19,273

15,562

5,704

413

-19,030

-6,600

3,373

-19,624

10,905

7,151

7,985

40,380

38,509

41,509

40,005

36,969

33,007

27,638

23,666

0

0

0

Equity in net (income) loss of unconsolidated equity investments

45,330

47,416

48,248

55,354

5,486

5,070

2,409

0

0

0

-

-

-

-

-

-

0

0

-

11,666

9,269

7,781

3,959

1,986

1,668

922

3,590

0

0

0

Equity in net (income) loss of unconsolidated equity investments

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on extinguishment of debt

-6,679

-6,494

-6,702

-6,691

-13,717

-15,341

-18,960

-28,432

-14,655

-13,299

-9,472

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of Non-Cash Interest Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Amortization of Non-Cash Interest Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-124

-305

550

862

329

1,364

1,299

1,230

0

0

0

Amortization of Acquired In-Place Lease Value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Amortization of Acquired In-Place Lease Value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Amortization of Above and Below Market Leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

6,202

4,055

3,244

2,485

1,955

2,862

2,568

2,131

0

0

0

Amortization of share-based compensation

7,809

7,865

8,063

7,703

6,992

6,260

5,356

7,638

7,301

6,979

6,562

3,204

2,242

2,204

2,483

-1,298

-483

2,721

2,149

5,584

4,801

885

445

0

0

0

-

-

-

-

Amortization of stock-based compensation

7,809

7,865

8,063

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

5,584

4,801

885

445

0

0

0

-

-

-

-

Straight-Line Rent Adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

9,904

8,234

7,398

7,491

0

0

0

-

-

-

-

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

0

0

-2,382

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of capitalized leasing costs

19,198

14,489

13,753

9,197

10,066

13,433

13,616

12,041

11,852

6,962

3,132

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tenant and other receivables

645

-3,585

-12,039

-19,673

-13,146

4,869

18,727

13,070

5,860

-9,376

-5,403

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tenant and Other Receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

1,792

3,982

599

1,639

2,580

691

649

-641

0

0

0

Deferred Rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Other assets

-7,796

-8,126

-5,159

33,592

6,729

4,933

11,084

17,578

868

7,259

-10,946

-4,068

8,091

4,035

11,384

-20,264

-19,125

-15,907

-13,710

11,211

7,120

4,852

3,080

3,987

2,508

2,053

1,969

0

0

0

Accounts payable and accrued expenses

2,162

-4,000

-5,705

-9,120

-12,129

-871

-24,854

-40,897

-48,048

-56,503

-22,912

8,934

16,331

18,045

12,007

-2,743

-7,284

-6,155

-2,362

9,232

23,839

23,355

32,481

26,212

7,388

10,161

4,221

0

0

0

Other liabilities

10,411

11,172

4,104

10,345

814

-5,729

-6,610

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment and Property Management Fees Payable to Related Party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Net cash provided by operating activities

312,539

304,662

290,318

250,681

281,012

265,983

229,252

137,595

74,088

40,664

37,359

74,568

-2,490

19,495

32,787

-38,425

46,894

30,588

29,403

99,641

92,493

92,727

93,564

101,466

89,625

77,359

58,755

0

0

0

Investing Activities:
Capital expenditures

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

-

-

-

-

-

-

43,429

20,926

12,282

9,797

4,577

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from investing activities received from unconsolidated equity investments

-

-

-

-

-

-

97,932

84,588

47,408

47,408

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of Real Property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

253,648

265,252

265,325

266,491

167,256

155,379

257,166

192,899

0

0

0

Proceeds from sales of real estate

302,340

457,791

382,812

342,777

654,108

592,384

975,425

865,800

602,666

489,890

73,796

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Return of restricted cash held in escrow for 1031 exchange

-

-

-

-

-

-

-

0

0

145,500

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions to unconsolidated equity investments

70,676

35,217

32,011

20,775

8,466

31,492

33,632

48,757

56,333

30,147

25,959

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate

931,982

1,093,308

1,181,949

1,648,992

1,040,113

1,106,429

1,059,691

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash for tenant improvements

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash for tenant improvements

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from servicing advances receivable

-

-

-

-

-

-

1,390

1,390

1,390

1,390

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease Commissions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

1,044

1,437

1,373

1,834

1,407

1,154

1,873

2,347

0

0

0

Improvements to Variable Interest Entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,175

33,238

59,560

55,998

0

0

0

-

-

-

-

Improvements to Investments in Real Estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

6,192

5,719

-4,976

2,743

4,775

5,492

18,903

9,800

0

0

0

Net cash used in investing activities

-722,517

-663,445

-824,463

-1,160,987

-382,157

-253,607

89,541

354,005

302,373

-146,704

-832,790

-998,564

-1,253,090

-885,713

-471,174

-274,549

-151,689

-159,071

-216,092

-437,665

-309,622

-326,677

-339,712

-257,515

-280,545

-368,649

-333,166

0

0

0

Financing Activities:
Proceeds from unsecured term loan and credit facility

1,230,179

1,159,922

1,055,000

1,035,000

518,306

521,466

536,466

1,914,958

1,891,772

2,133,612

2,293,612

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Additional Paid-in-Capital-Public Offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Redemption of Common Shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64,453

77,516

70,373

52,912

49,651

42,634

43,255

39,240

0

0

0

Repurchase and Cancellation of Vested Shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Payment of Distributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

97,053

81,944

81,404

78,830

75,015

69,957

64,456

60,203

0

0

0

Distribution to Non-Controlling Interest OperatingPartnership Units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,427

148

148

148

148

148

148

148

0

0

0

Acquisition of Non-Controlling InterestVariable Interest Entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

826

826

826

686

0

0

0

Distribution to Non-Controlling Interest-Variable Interest Entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from senior unsecured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

0

0

-

629,044

485,044

295,044

265,000

0

20,000

20,000

50,000

0

0

0

Proceeds from senior unsecured notes

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of unsecured term loans and credit facility

634,744

769,744

544,744

584,017

617,199

517,199

762,199

1,956,806

1,906,806

2,081,806

1,831,806

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of secured credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal Payments on Unsecured Revolving Credit Facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

529,044

250,000

250,000

25,000

25,000

20,000

50,000

85,000

0

0

0

Proceeds from mortgage notes payable

0

0

2,582

2,582

2,582

2,582

9,550

9,550

9,550

9,550

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of mortgage notes payable

179,484

173,865

174,235

65,480

97,859

60,750

255,024

253,153

218,644

203,154

5,936

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Unsecured Term Loan Facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

570,000

250,000

250,000

0

0

0

11,700

81,700

0

0

0

Principal Payments on Secured Notes Payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

160,239

159,920

136,298

137,272

28,464

50,125

67,707

67,730

0

0

0

Offering costs

1,885

13,625

14,231

14,257

12,571

831

225

74

-34

11,759

12,090

28,911

40,345

28,650

28,381

4,958

-1,745

-1,579

0

6,659

7,845

7,581

6,420

6,707

659

1,814

2,501

0

0

0

Proceeds from sale of common shares

105,016

390,698

410,779

410,752

305,779

20,097

16

0

0

273,737

289,910

0

0

0

-

-

-

-

-

-

-

-

150,814

737,331

586,870

587,033

586,950

0

0

0

Payment of deferred financing costs

4,141

4,102

4,354

6,670

5,164

6,386

6,685

16,856

18,184

17,027

19,724

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt extinguishment costs

-

-

-

-

-

-

15,868

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance costs for Series B stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Preferred share dividends paid

6,234

6,234

6,234

6,234

6,234

6,234

6,234

6,234

6,234

6,234

6,234

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common share dividends paid

239,331

232,076

224,533

210,600

199,703

192,790

148,501

125,135

91,198

54,250

54,868

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of share options and purchases under the employee share purchase plan

-

-

-

-

-

-

167

193

215

233

80

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests in other entities

-

-

-

-

-

-

-

-

-

-

169

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distribution to noncontrolling interest in the Operating Partnership

4,184

2,497

1,213

389

434

495

406

406

383

333

421

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments in Unconsolidated Entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

45,568

75,352

106,552

105,503

141,632

0

0

0

Distributions from Unconsolidated Entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Change in restricted cash from financing activities

-

-

-

-

-

-

-

0

0

-50

-

-219

-2,893

-3,458

-425

26,954

30,048

29,757

22,948

-4,812

-4,154

-5,944

-2,431

-5,771

-8,204

-6,570

-7,854

0

0

0

Security Deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Net cash provided by (used in) financing activities

277,933

346,188

496,666

908,174

93,433

-36,656

-393,006

-447,703

-209,498

174,982

748,908

938,016

1,283,291

885,032

595,171

276,777

34,665

68,381

124,620

208,894

31,500

-1,820

115,372

168,602

352,253

465,061

464,514

0

0

0

Net increase in cash, cash equivalents, and restricted cash

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in cash, cash equivalents, and restricted cash related to foreign currency translation

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

0

0

43,350

-

14,020

27,696

18,857

156,784

-36,162

-69,994

-59,848

-62,069

-129,159

-185,928

-236,228

-130,922

12,610

161,362

173,746

190,059

0

0

0

Increase (decrease) in cash, cash equivalents, and restricted cash related to foreign currency translation

-

-

-

-

-

-

-221

-61

175

59

77

0

0

0

-

-

136

254

0

-28

-299

-458

-146

56

29

-25

-44

0

0

0

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

39,427

31,179

32,739

33,056

34,048

39,554

35,191

31,911

0

0

0

Conversion of Duke joint venture Equity Investment to Controlling Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Share Awards Increase in Additional Paid-In-Capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Accrued Offering Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accounts Payable and Accrued Expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-8,661

1,099

2,762

3,264

16,068

6,996

6,265

3,305

0

0

0

Notes Payable Assumed on Acquisitions of Real Estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

216,011

216,011

216,011

0

0

0

0

-

-

-

-

Proceeds from Dividend Reinvestment Program

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Application of Deposit to Investment in Unconsolidated Entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

JV Contribution/DistributionExpansion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-205

-158

425

697

6,680

14,236

24,416

25,364

0

0

0

Proceeds from Dividend Reinvestment Program

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Conversion of Duke JV Equity Investment to Controlling Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Accrued Offering Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-