Ltc properties inc (LTC)
CashFlow / TTM
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

124,167

80,872

99,085

106,742

155,144

155,076

144,066

129,745

86,186

87,340

88,172

89,967

86,770

85,115

82,403

79,639

75,387

73,081

76,127

73,602

73,947

73,399

67,049

67,213

61,843

57,815

55,943

51,161

51,371

51,327

51,153

51,072

50,221

49,443

0

0

0

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

39,278

39,216

38,795

38,310

37,718

37,555

37,583

37,655

37,695

37,610

37,495

37,131

36,730

35,932

34,933

33,143

31,213

29,431

27,715

26,685

26,010

25,529

25,172

25,039

24,868

24,706

24,161

23,884

23,122

22,153

21,602

20,651

20,269

19,623

0

0

0

Stock-based compensation expense

6,654

6,566

6,424

6,285

6,183

5,870

5,666

5,462

5,366

5,249

5,098

4,945

4,549

4,280

4,062

3,944

4,014

4,006

4,020

3,885

3,569

3,253

2,867

2,532

2,272

2,591

2,514

2,417

2,352

1,819

1,727

1,656

1,561

1,467

0

0

0

Gain on sale of real estate, net

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16

0

0

0

-

-

-

-

Income from unconsolidated joint ventures

1,534

2,388

2,734

2,720

3,318

2,864

2,731

2,600

2,449

2,263

1,934

1,608

1,311

1,138

1,115

1,500

1,975

1,819

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income distributions from unconsolidated joint ventures

2,117

2,991

3,221

2,517

2,933

2,371

2,229

2,240

1,925

1,738

1,522

1,422

1,783

1,695

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-line rental income

4,088

4,487

4,519

6,623

7,348

9,550

11,961

10,827

11,267

10,694

12,638

13,330

13,509

13,477

11,277

11,137

10,696

10,136

8,141

6,208

4,638

3,002

2,876

3,342

3,657

3,955

4,065

3,791

3,554

3,264

3,161

3,372

3,602

3,728

0

0

0

Adjustment for collectability of rental income

-

1,926

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease incentives funded

0

-

-

-

-

1,272

2,103

2,389

3,483

6,544

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease incentives

399

385

722

1,182

1,639

2,092

2,179

2,189

2,222

2,209

2,190

2,089

1,964

1,955

1,963

1,922

1,846

1,680

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

84

166

164

284

162

87

9

-193

-160

-206

73

212

335

457

401

389

700

619

418

426

8

32

2,215

2,199

2,192

2,180

-36

-61

-87

-101

-20

-20

-2

-13

0

0

0

Non-cash interest related to contingent liabilities

-

-

-

-

-

377

503

502

502

602

622

720

761

684

742

615

503

409

0

0

0

-

-

-

-

256

365

439

439

439

0

0

0

-

-

-

-

Other non-cash items, net

-1,020

-1,016

-1,017

-1,022

-1,109

-1,180

-1,247

-1,308

-1,291

-1,282

-1,265

-1,248

-1,239

-1,216

-1,224

-1,145

-1,061

-985

-298

-809

-790

-779

-805

-429

-575

-726

-1,541

-1,530

-1,490

-1,460

-1,344

-1,290

-1,407

-1,344

0

0

0

Increase in interest receivable

5,921

5,854

5,809

5,776

5,720

5,682

5,640

5,609

5,588

5,367

5,216

5,168

5,053

5,147

5,050

4,958

4,648

3,939

2,685

1,434

470

-105

-64

-69

-116

-87

-164

-169

-339

-535

-230

-414

-36

-56

0

0

0

(Decrease) increase in accrued interest payable

-690

803

528

185

79

-1,096

-640

562

-145

601

492

497

1,407

701

1,062

472

380

418

130

124

122

132

348

154

65

145

-244

2,140

906

1,923

1,306

298

774

681

0

0

0

Net change in other assets and liabilities

1,090

1,750

-1,538

-5,060

-2,508

-3,036

-1,496

-894

3,471

3,476

1,138

1,710

-2,588

-1,094

-2,350

-4,101

-3,813

-5,390

-1,975

90

1,567

365

-360

-1,565

-1,753

-3,519

-1,557

-325

-1,165

-545

-1,648

-460

-429

-1,167

0

0

0

Net cash provided by operating activities

119,536

122,469

122,189

121,736

120,729

115,535

112,609

113,438

105,848

105,305

102,197

102,212

107,153

105,708

111,452

109,216

104,082

102,341

97,011

94,484

93,797

95,762

95,524

93,125

89,393

87,125

80,295

79,227

77,543

76,820

76,208

72,895

71,606

70,459

0

0

0

INVESTING ACTIVITIES:
Investment in real estate properties

56,024

58,414

0

0

0

-

-

-

-

-

-

-

-

74,923

108,604

259,879

209,309

206,340

0

0

0

-

-

-

-

-

-

-

-

166,750

0

0

0

-

-

-

-

Investment in real estate developments

18,421

20,524

24,614

29,668

33,645

35,279

34,679

32,369

28,049

22,901

20,658

25,166

32,346

42,342

47,092

44,454

34,327

25,929

24,673

25,861

33,019

34,135

32,158

30,375

25,810

23,605

0

0

0

-

-

-

-

-

-

-

-

Investment in real estate capital improvements

3,699

2,839

3,307

2,554

2,974

3,249

2,654

2,467

2,691

2,899

3,534

4,900

4,281

6,792

6,908

5,672

5,859

7,534

7,981

8,468

11,485

13,967

12,780

13,934

12,044

6,992

6,348

5,192

3,288

1,132

1,853

1,777

-50,728

3,135

0

0

0

Capitalized interest

539

608

839

1,029

1,249

1,248

1,131

1,089

997

908

842

837

892

1,408

1,539

1,472

1,366

827

771

2,545

1,960

1,506

2,866

690

802

932

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of real estate, net

85,689

14,009

0

0

0

-

-

-

-

-

-

-

-

17,369

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

1,271

0

0

0

-

-

-

-

Investment in real estate mortgage loans receivable

11,254

12,342

11,753

19,446

13,208

21,364

23,110

15,738

17,139

11,913

10,905

11,386

18,470

20,685

32,820

31,415

62,375

67,134

0

0

0

-

-

-

-

129,358

0

0

0

-

-

-

-

-

-

-

-

Advances under mortgage loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments received on mortgage loans receivable

1,065

1,065

1,065

1,065

2,164

2,136

2,148

2,160

6,942

17,863

23,512

24,019

18,221

8,278

2,644

2,924

3,037

4,808

11,827

11,583

11,422

9,155

2,113

2,049

1,990

1,933

18,206

18,819

21,377

21,633

0

0

0

-

0

0

0

Investments in unconsolidated joint ventures

237

472

484

466

583

670

581

611

3,314

3,848

0

0

0

-

-

-

-

23,042

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from dissolution of unconsolidated joint ventures

-

6,601

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of working capital reserve

-

-

-

-

-

-

-

-

-

439

870

1,761

2,896

2,756

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advances and originations under notes receivable

2,155

8,967

0

0

0

-

-

-

-

-

-

-

-

14,969

2,418

714

755

1,554

0

0

0

-

-

-

-

1,004

1,264

1,421

1,959

2,930

0

0

0

-

-

-

-

Principal payments received on notes receivable

-

3,503

0

0

0

-

-

-

-

25

35

65

95

100

0

0

0

-

-

-

-

-

-

-

-

3,110

0

0

0

-

-

-

-

-

-

-

-

Principal payments received on notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

460

563

744

731

0

0

0

Net cash provided by (used in) investing activities

1,088

-78,988

-58,347

-57,067

-12,688

-3,609

-40,571

-35,636

-112,240

-92,012

-73,211

-78,311

-101,433

-139,898

-184,251

-336,229

-311,640

-326,820

-255,554

-104,972

-65,865

-29,034

-188,446

-175,733

-173,926

-164,887

-98,459

-159,561

-147,850

-158,645

-102,815

-54,209

-58,771

-93,013

0

0

0

FINANCING ACTIVITIES:
Bank borrowings

95,000

107,900

93,100

99,100

129,100

116,200

145,000

118,500

133,500

113,000

104,600

94,600

86,600

123,600

107,500

286,500

295,000

291,000

276,000

98,500

54,000

37,500

119,500

112,000

111,000

93,000

103,000

132,500

138,500

153,500

82,100

71,600

135,600

167,600

0

0

0

Repayment of bank borrowings

152,000

126,000

0

0

0

-

-

-

-

123,600

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

149,300

0

0

0

Proceeds from issuance of senior unsecured notes

-

-

-

-

-

-

-

-

-

100,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on senior unsecured notes

-

33,667

32,667

38,167

38,167

38,166

32,166

31,166

31,166

31,167

29,167

26,667

26,667

26,667

16,667

29,167

29,167

29,167

29,167

4,167

4,167

4,167

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock repurchase plan

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on bonds payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,035

635

635

635

600

600

600

600

565

565

565

565

530

0

0

0

Proceeds from common stock issued

-

-

-

-

-

-

-

-

-

14,578

14,578

22,285

78,533

78,592

0

0

0

-

-

-

-

-

-

-

-

176,260

0

0

0

-

-

-

-

103,631

0

0

0

Stock option exercises

-

-

-

-

-

123

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

1,071

277

277

238

523

523

1,703

2,298

1,926

0

0

0

-

-

-

-

Distributions paid to stockholders

91,135

90,899

90,845

90,787

90,725

90,372

90,323

90,277

90,245

90,219

90,021

88,647

86,773

84,568

82,134

79,913

78,178

76,765

75,544

75,174

74,805

74,431

74,270

72,659

70,429

66,904

63,371

61,074

58,776

57,785

56,338

55,218

57,783

56,572

0

0

0

Distributions paid to non-controlling interests

365

309

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

16

26

37

78

116

154

191

191

0

0

0

Redemption of non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,764

0

0

0

-

-

-

-

Financing costs paid

-

-

-

-

-

-

-

-

-

363

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-3,574

-2,053

-2,053

-2,051

-2,161

-1,201

-1,237

-1,216

-1,396

-1,990

-1,969

-2,010

-2,572

-2,230

-3,154

-3,121

-2,272

-1,285

-558

-550

-530

-219

-236

-236

-247

-252

0

0

0

-

-

-

-

-

-

-

0

Net cash (used in) provided by financing activities

-98,559

-44,001

-80,345

-66,060

-103,002

-112,375

-53,309

-80,395

1,444

-16,071

-28,757

-32,358

-21,268

29,239

64,683

236,718

228,421

212,184

162,683

10,475

-32,057

-48,269

40,173

27,357

82,454

77,349

70,228

133,336

76,631

84,608

29,667

-14,768

-32,928

20,059

0

0

0

Increase in cash, cash equivalents and restricted cash

22,065

-520

-16,503

-1,391

5,039

-449

18,729

-2,593

-4,948

-2,778

229

-8,457

-15,548

-4,951

-8,116

9,705

20,863

-12,295

4,140

-13

-4,125

18,459

-52,749

-55,251

-2,079

-413

52,064

53,002

6,324

2,783

3,060

3,918

-20,093

-2,495

0

0

0

Supplemental disclosure of cash flow information:
Interest paid

30,500

28,767

28,678

28,686

28,649

30,116

30,062

28,945

29,165

28,070

27,363

26,562

25,257

24,490

22,852

20,980

18,111

16,078

13,341

13,474

12,587

12,188

11,673

10,285

10,723

10,466

11,762

9,574

9,715

7,452

7,102

6,951

5,894

5,070

0

0

0

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

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liability

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reclassified to lease incentives

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-