Ltc properties inc (LTC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'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
OPERATING ACTIVITIES:
Net income

63,722

12,631

27,280

20,534

20,427

30,844

34,937

68,936

20,359

19,834

20,616

25,377

21,513

20,666

22,411

22,180

19,858

17,954

19,647

17,928

17,552

21,000

17,122

18,273

17,004

14,650

17,286

12,903

12,976

12,778

12,504

13,113

12,932

12,604

12,423

12,262

12,154

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

9,669

9,817

9,932

9,860

9,607

9,396

9,447

9,268

9,444

9,424

9,519

9,308

9,359

9,309

9,155

8,907

8,561

8,310

7,365

6,977

6,779

6,594

6,335

6,302

6,298

6,237

6,202

6,131

6,136

5,692

5,925

5,369

5,167

5,141

4,974

4,987

4,521

Stock-based compensation expense

1,777

1,628

1,626

1,623

1,689

1,486

1,487

1,521

1,376

1,282

1,283

1,425

1,259

1,131

1,130

1,029

990

913

1,012

1,099

982

927

877

783

666

541

542

523

985

464

445

458

452

372

374

363

358

Gain on sale of real estate, net

43,854

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

16

-

-

-

-

Income from unconsolidated joint ventures

231

415

760

128

1,085

761

746

726

631

628

615

575

445

299

289

278

272

276

674

753

116

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income distributions from unconsolidated joint ventures

231

414

1,175

297

1,105

644

471

713

543

502

482

398

356

286

382

759

268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-line rental income

839

889

1,085

1,275

1,238

921

3,189

2,000

3,440

3,332

2,055

2,440

2,867

5,276

2,747

2,619

2,835

3,076

2,607

2,178

2,275

1,081

674

608

639

955

1,140

923

937

1,065

866

686

647

962

1,077

916

773

Adjustment for collectability of rental income

-

0

0

0

1,926

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentives funded

13

-

-

-

-

0

255

637

380

831

541

1,731

3,441

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease incentives

101

104

100

94

87

441

560

551

540

528

570

584

527

509

469

459

518

517

428

383

352

-

-

165

165

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

1

13

-14

84

83

11

106

-38

8

-67

-96

-5

-38

212

43

118

84

156

31

429

3

-45

39

11

27

2,138

23

4

15

-78

-2

-22

1

3

-2

-4

-10

Non-cash interest related to contingent liabilities

-

-

-

-

-

0

126

125

126

126

125

125

226

146

223

166

149

204

96

54

55

-

-

-

-

0

36

110

110

109

110

110

110

-

-

-

-

Other non-cash items, net

-256

-256

-255

-253

-252

-257

-260

-340

-323

-324

-321

-323

-314

-307

-304

-314

-291

-315

-225

-230

-215

372

-736

-211

-204

346

-360

-357

-355

-469

-349

-317

-325

-353

-295

-434

-262

Increase in interest receivable

1,511

1,487

1,459

1,464

1,444

1,442

1,426

1,408

1,406

1,400

1,395

1,387

1,185

1,249

1,347

1,272

1,279

1,152

1,255

962

570

-102

4

-2

-5

-61

-1

-49

24

-138

-6

-219

-172

167

-190

159

-192

(Decrease) increase in accrued interest payable

-1,480

987

-1,294

1,097

13

712

-1,637

991

-1,162

1,168

-435

284

-416

1,059

-430

1,194

-1,122

1,420

-1,020

1,102

-1,084

1,132

-1,026

1,100

-1,074

1,348

-1,220

1,011

-994

959

1,164

-223

23

342

156

253

-70

Net change in other assets and liabilities

3,975

747

1,061

-4,693

4,635

-2,541

-2,461

-2,141

4,107

-1,001

-1,859

2,224

4,112

-3,339

-1,287

-2,074

5,606

-4,595

-3,038

-1,786

4,029

-1,180

-973

-309

2,827

-1,905

-2,178

-497

1,061

57

-946

-1,337

1,681

-1,046

242

-1,306

943

Net cash provided by operating activities

23,854

32,377

28,420

34,885

26,787

32,097

27,967

33,878

21,593

29,171

28,796

26,288

21,050

26,063

28,811

31,229

19,605

31,807

26,575

26,095

17,864

26,477

24,048

25,408

19,829

26,239

21,649

21,676

17,561

19,409

20,581

19,992

16,838

18,797

17,268

18,703

15,691

INVESTING ACTIVITIES:
Investment in real estate properties

13,581

20,080

22,222

141

15,971

-

-

-

-

-

-

-

-

1,474

5,553

51,896

16,000

35,155

156,828

1,326

13,031

-

-

-

-

-

-

-

-

85,768

60,500

1,882

18,600

-

-

-

-

Investment in real estate developments

4,854

5,472

2,040

6,055

6,957

9,562

7,094

10,032

8,591

8,962

4,784

5,712

3,443

6,719

9,292

12,892

13,439

11,469

6,654

2,765

5,041

10,213

7,842

9,923

6,157

8,236

6,059

5,358

3,952

-

-

-

-

-

-

-

-

Investment in real estate capital improvements

1,119

718

1,053

809

259

1,186

300

1,229

534

591

113

1,453

742

1,226

1,479

834

3,253

1,342

243

1,021

4,928

1,789

730

4,038

7,410

602

1,884

2,148

2,358

-42

728

244

202

679

652

-52,261

54,065

Capitalized interest

191

167

108

73

260

398

298

293

259

281

256

201

170

215

251

256

686

346

184

150

147

290

1,958

-435

-307

1,650

-218

-323

-177

-

-

-

-

-

-

-

-

Proceeds from sale of real estate, net

71,905

5,941

7,837

6

225

-

-

-

-

-

-

-

-

0

8,895

6,724

1,750

-

-

-

-

-

-

-

-

-

-

-

-

23

0

0

1,248

-

-

-

-

Investment in real estate mortgage loans receivable

366

1,423

1,183

8,282

1,454

834

8,876

2,044

9,610

2,580

1,504

3,445

4,384

1,572

1,985

10,529

6,599

13,707

580

41,489

11,358

-

-

-

-

126,542

1,903

3

910

-

-

-

-

-

-

-

-

Advances under mortgage loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,842

1,139

2,568

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments received on mortgage loans receivable

65

500

0

500

65

500

0

1,599

37

512

12

6,381

10,958

6,161

519

583

1,015

527

799

696

2,786

7,546

555

535

519

504

491

476

462

16,777

1,104

3,034

718

-

1,366

1,654

1,966

Investments in unconsolidated joint ventures

58

78

101

0

293

90

83

117

380

1

113

2,820

914

-

-

-

-

2,899

0

0

20,143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from dissolution of unconsolidated joint ventures

-

0

3,201

0

3,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of working capital reserve

-

-

-

-

-

-

-

-

-

0

0

0

439

431

891

1,135

299

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advances and originations under notes receivable

141

436

765

813

6,953

-

-

-

-

-

-

-

-

12,641

1,914

321

93

90

210

362

892

-

-

-

-

209

285

447

63

469

442

985

1,034

-

-

-

-

Principal payments received on notes receivable

-

57

3,397

8

41

-

-

-

-

0

0

0

25

10

30

30

30

-

-

-

-

-

-

-

-

394

303

2,299

114

-

-

-

-

-

-

-

-

Principal payments received on notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

82

0

191

187

185

181

178

Net cash provided by (used in) investing activities

51,660

-21,876

-13,037

-15,659

-28,416

-1,235

-11,757

28,720

-19,337

-38,197

-6,822

-47,884

891

-19,396

-11,922

-71,006

-37,574

-63,749

-163,900

-46,417

-52,754

7,517

-13,318

-7,310

-15,923

-151,895

-605

-5,503

-6,884

-85,467

-61,707

6,208

-17,679

-29,637

-13,101

1,646

-51,921

FINANCING ACTIVITIES:
Bank borrowings

24,000

34,500

36,500

0

36,900

19,700

42,500

30,000

24,000

48,500

16,000

45,000

3,500

40,100

6,000

37,000

40,500

24,000

185,000

45,500

36,500

9,000

7,500

1,000

20,000

91,000

0

0

2,000

101,000

29,500

6,000

17,000

29,600

19,000

70,000

49,000

Repayment of bank borrowings

28,000

106,000

18,000

0

2,000

-

-

-

-

7,000

6,000

0

110,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,000

60,600

0

86,700

Proceeds from issuance of senior unsecured notes

-

-

-

-

-

-

-

-

-

0

0

0

100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on senior unsecured notes

-

19,000

10,500

0

4,167

18,000

16,000

0

4,166

12,000

15,000

0

4,167

10,000

12,500

0

4,167

0

25,000

0

4,167

0

0

0

4,167

-

-

-

-

-

-

-

-

-

-

-

-

Stock repurchase plan

18,012

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on bonds payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,400

0

0

635

0

0

0

600

0

0

0

565

0

0

0

530

Proceeds from common stock issued

-

-

-

-

-

-

-

-

-

0

0

0

14,578

0

7,707

56,248

14,637

-

-

-

-

-

-

-

-

0

-41

171,406

4,895

-

-

-

-

0

-36

-162

103,829

Stock option exercises

-

-

-

-

-

0

0

0

123

-

-

-

-

-

-

-

-

-

-

-

-

794

0

39

238

0

0

0

523

0

1,180

595

151

-

-

-

-

Distributions paid to stockholders

23,167

22,658

22,658

22,652

22,931

22,604

22,600

22,590

22,578

22,555

22,554

22,558

22,552

22,357

21,180

20,684

20,347

19,923

18,959

18,949

18,934

18,702

18,589

18,580

18,560

18,541

16,978

16,350

15,035

15,008

14,681

14,052

14,044

13,561

13,561

16,617

12,833

Distributions paid to non-controlling interests

146

66

66

87

90

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7

9

10

11

48

47

48

48

48

Redemption of non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,764

-

-

-

-

Financing costs paid

-

-

-

-

-

-

-

-

-

0

0

62

301

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-3,545

0

-23

-6

-2,024

0

-21

-116

-1,064

-36

0

-296

-1,658

-15

-41

-858

-1,316

-939

-8

-9

-329

-212

0

11

-18

-229

0

0

-23

-

-

-

-

-

-

-

-1

Net cash (used in) provided by financing activities

-48,870

-12,325

-14,630

-22,734

5,688

-48,669

-345

-59,676

-3,685

10,397

-27,431

22,163

-21,200

-2,289

-31,032

33,253

29,307

33,155

141,003

24,956

13,070

-16,346

-11,205

-17,576

-3,142

72,096

-24,021

37,521

-8,247

64,975

39,087

-19,184

-270

10,034

-5,348

-37,344

52,717

Increase in cash, cash equivalents and restricted cash

26,644

-1,824

753

-3,508

4,059

-17,807

15,865

2,922

-1,429

1,371

-5,457

567

741

4,378

-14,143

-6,524

11,338

1,213

3,678

4,634

-21,820

17,648

-475

522

764

-53,560

-2,977

53,694

2,430

-1,083

-2,039

7,016

-1,111

-806

-1,181

-16,995

16,487

Supplemental disclosure of cash flow information:
Interest paid

8,935

6,336

8,867

6,362

7,202

6,247

8,875

6,325

8,669

6,193

7,758

6,545

7,574

5,486

6,957

5,240

6,807

3,848

5,085

2,371

4,774

1,111

5,218

1,484

4,375

596

3,830

1,922

4,118

1,892

1,642

2,063

1,855

1,542

1,491

1,006

1,031

Non-cash investing and financing transactions:
Right of use asset

-

-

-

-

1,445

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liability

-

-

-

-

1,445

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reclassified to lease incentives

300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loan receivable applied against purchase price to acquire real estate (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-