JBG SMITH PROPERTIES JBGS Cash Flow

Jbg smith properties (JBGS)

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
OPERATING ACTIVITIES:
Net income (loss)
94,071	74,144	36,446	52,296	79,647	46,613	26,867	-77,506	-90,188	-79,084	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense
66,046	65,273	60,417	57,513	56,165	52,675	56,219	59,675	46,101	33,693	0	0	0
Depreciation and amortization, including amortization of debt issuance costs
195,219	195,795	213,569	213,400	215,422	215,659	199,854	197,329	180,559	164,580	0	0	0
Deferred rent
36,447	39,174	35,340	26,133	20,103	14,056	9,019	9,824	9,949	10,388	0	0	0
(Income) loss from unconsolidated real estate ventures, net
-7,688	-1,395	24,638	39,266	44,912	39,409	12,640	-2,523	-6,254	-4,143	0	0	0
Amortization of market lease intangibles, net
822	791	648	635	256	220	48	32	615	862	0	0	0
Amortization of lease incentives
5,888	6,336	4,104	4,047	3,163	3,406	5,177	5,660	6,157	4,023	0	0	0
Loss on extinguishment of debt
0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
125,435	104,991	53,515	57,365	90,761	52,183	45,789	33,851	455	0	0	0	0
Net unrealized loss (gain) on derivative financial instruments not designated as cash flow hedges
45	-50	-424	-722	-241	926	2,133	2,900	2,419	1,300	0	0	0
Losses on operating lease receivables
2,710	1,560	1,988	2,230	4,512	3,298	4,590	4,680	4,069	3,807	0	0	0
Return on capital from unconsolidated real estate ventures
2,824	2,690	2,843	4,152	4,461	7,827	8,234	7,103	6,284	2,563	0	0	0
Other non-cash items
118	-517	91	-830	-1,766	-1,388	-1,480	-3,873	-2,431	-3,955	0	0	0
Changes in operating assets and liabilities:
Tenant and other receivables
8,407	8,382	16,826	17,691	3,729	5,582	-3,686	693	12,968	2,098	0	0	0
Other assets, net
11,929	9,177	11,821	14,277	10,112	16,600	9,234	13,876	18,243	23,481	0	0	0
Accounts payable and accrued expenses
5,297	-7,678	720	-4,284	-7,738	-5,984	-26,792	-14,412	-4,863	16,160	0	0	0
Other liabilities, net
-13,218	-18,220	-14,596	-29,309	-27,750	-19,137	-18,130	-10,660	-8,781	-7,397	0	0	0
Net cash provided by operating activities
197,994	173,986	164,171	147,431	171,440	188,193	187,451	95,070	69,243	74,183	0	0	0
INVESTING ACTIVITIES:
Development costs, construction in progress and real estate additions
479,360	441,014	419,902	401,232	369,967	385,943	355,067	321,564	266,757	210,593	0	0	0
Deposits for real estate acquisitions
-	850	9,125	8,525	8,525	0	0	0	0	-	-	-	-
Proceeds from sale of real estate
414,328	377,511	224,738	297,871	528,599	413,077	346,149	232,882	2,154	0	0	0	0
Acquisition of interests in unconsolidated real estate ventures, net of cash acquired
-	-	-	-	-	386	9,220	9,220	9,220	8,834	0	0	0
Distributions of capital from unconsolidated real estate ventures
-	7,557	19,725	20,615	19,613	14,408	9,169	8,279	8,279	6,929	0	0	0
Investments in unconsolidated real estate ventures
19,380	18,668	15,859	19,439	22,247	31,197	37,543	32,474	28,108	16,321	0	0	0
Other
-	-	-	-	-	665	-659	1,476	2,090	2,207	0	0	0
Net cash provided by investing activities
-240,943	-240,672	-167,992	-53,677	203,860	66,327	-21,237	99,777	-72,392	-7,676	0	0	0
FINANCING ACTIVITIES:
Finance lease payments
2,746	137	135	128	121	114	133	17,879	17,853	17,827	0	0	0
Contributions from former parent, net
-	-	-	-	-	-	-	-	-	160,203	0	0	0
Acquisition of interest in consolidated real estate venture
-	-	-	-	-	5,550	548	548	548	0	0	0	0
Proceeds from borrowings from former parent
-	-	-	-	-	-	-	-	-	4,000	0	0	0
Borrowings under mortgages payable
0	-	-	-	-	118,141	168,044	187,583	384,786	366,239	0	0	0
Borrowings under revolving credit facility
0	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings under unsecured term loans
-	-	-	-	-	250,000	250,000	100,000	100,000	50,000	0	0	0
Repayments of mortgages payable
718,159	719,003	528,419	623,547	247,738	312,894	347,509	436,237	337,779	272,905	0	0	0
Repayments of revolving credit facility
0	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
0	-	-	-	-	-	-	-	-	19,287	0	0	0
Common shares repurchased
0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common shareholders
120,720	129,834	126,860	123,768	120,130	107,372	0	0	0	-	-	-	-
Distributions to redeemable noncontrolling interests
15,323	17,390	17,642	17,918	18,736	17,398	17,876	13,770	9,113	4,556	0	0	0
Contributions from noncontrolling interests
-	207	125	375	374	250	0	0	0	-	-	-	-
Distributions to noncontrolling interests
-	-	-	-	-	340	0	0	0	-	-	-	-
Net cash provided by (used in) financing activities
-56,493	-190,330	-132,668	-58,664	-210,247	-193,545	-171,422	-217,507	196,117	239,787	0	0	0
Net increase in cash and cash equivalents and restricted cash
-99,442	-257,016	-136,489	35,090	165,053	60,975	-5,208	-22,660	192,968	306,294	0	0	0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:
Cash paid for interest (net of capitalized interest of $5,268 and $6,915 in 2020 and 2019)
44,875	49,437	54,333	62,043	63,510	64,605	55,869	61,410	57,761	52,388	0	0	0
Accrued capital expenditures included in accounts payable and accrued expenses
86,195	84,076	74,039	81,386	74,928	53,073	73,722	71,705	59,495	12,445	0	0	0
Write-off of fully depreciated assets
55,167	66,533	78,542	68,273	65,536	52,272	54,138	54,025	56,758	55,998	0	0	0
Conversion of common limited partnership units to common shares
0	-	-	-	0	-	-	-	-	-	-	-	-
Recognition (derecognition) of operating lease right-of-use assets
0	-	-	-	0	-	-	-	-	-	-	-	-
Recognition (derecognition) of liabilities related to operating lease right-of-use assets.
0	-	-	-	0	-	-	-	-	-	-	-	-
Recognition of finance lease right-of-use assets
0	-	-	-	-	-	-	-	-	-	-	-	-
Recognition of liabilities related to finance lease right-of-use assets
0	-	-	-	-	-	-	-	-	-	-	-	-
Cash received (payments) for income taxes
-	-	-	-	-	-	-	-	-	3,396	0	0	0
Fair value of OP Unit redemptions
-	-	-	-	-	-109,208	0	0	0	-	-	-	-
Cash paid for amounts included in the measurement of lease liabilities for operating leases
5,890	6,202	4,629	3,068	1,708	0	0	0	0	-	-	-	-