National health investors inc (NHI)
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'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

185,832

160,449

155,495

153,719

151,580

154,333

155,050

153,161

153,567

159,365

162,754

157,101

163,837

152,716

166,314

166,853

153,410

150,314

123,628

115,169

109,209

103,052

103,062

120,595

115,115

107,182

120,342

91,641

88,471

90,898

67,742

72,200

80,389

81,132

79,973

78,499

72,571

69,421

0

0

0

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

78,768

76,816

75,273

73,731

72,505

71,349

70,449

69,339

68,364

67,173

65,863

64,059

61,936

59,525

57,289

55,535

53,842

53,123

49,207

45,318

41,855

38,078

34,326

30,462

25,480

20,658

19,033

19,193

18,031

16,981

15,877

12,921

12,473

11,992

11,649

11,583

11,493

11,203

0

0

0

Amortization of Debt Issuance Costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of commitment fees

483

493

402

314

-9

662

749

757

965

517

783

899

729

693

303

143

68

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease incentives

913

845

754

638

492

387

290

231

172

119

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-line rental income

22,135

22,084

21,526

21,525

11,597

22,787

24,650

25,882

26,297

26,090

24,571

23,620

22,667

22,198

22,714

22,898

23,820

24,623

22,263

20,281

18,357

16,463

14,844

12,355

9,472

6,560

5,747

5,282

3,885

3,664

3,341

3,000

3,930

3,778

8,188

6,424

4,712

3,140

0

0

0

Non-cash interest income on construction loan

2,544

2,204

1,932

1,742

1,792

1,680

1,341

1,265

957

792

1,061

1,105

1,142

1,021

1,079

797

561

411

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

1,082

0

0

0

-

-

-

-

Gains (Losses) on Sales of Investment Real Estate

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (Loss) from Equity Method Investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-1,214

-2,216

-1,714

-1,940

-1,767

-993

-794

-458

-71

212

443

460

324

314

136

67

45

0

0

0

-

-

-

-

-

-

-

-

Gain on sale of real estate

-

-

-

-

-

-

-

-

-

50

50

50

2,978

4,582

4,582

5,708

2,780

1,126

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

3,348

0

0

0

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-738

-2,361

-2,856

-2,952

-2,214

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of marketable securities

-

-

-

-

-

-

-

-

-

10,038

16,213

16,213

39,700

29,673

46,966

47,027

23,540

23,529

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

9,899

0

0

0

-

-

-

-

Write-off of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,145

2,208

2,208

2,561

416

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loan and realty losses

1,495

2,440

5,766

5,766

7,615

5,115

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,976

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment of Tenant Lease Incentives

-1,850

-3,100

-5,180

-2,680

-6,530

-5,280

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Share-based compensation

3,490

3,646

3,314

3,174

3,066

2,490

2,473

2,541

2,514

2,612

2,521

2,367

2,276

1,732

1,685

1,667

1,649

2,134

2,154

2,144

2,135

2,020

2,049

2,079

2,108

2,339

2,330

2,322

2,316

2,168

2,099

2,121

2,148

3,087

3,076

2,975

2,918

2,368

0

0

0

Change in fair value of interest rate swap agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Change in operating assets and liabilities:
Accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Other assets

-4,922

-1,604

-111

-2,543

4,383

5,298

4,377

6,648

6,821

3,602

2,172

1,775

330

-437

-943

633

308

-216

3,031

1,213

1,348

2,334

348

-194

605

659

1,410

1,727

1,018

745

2,945

3,203

2,629

3,236

212

581

1,095

643

0

0

0

Accounts payable and accrued expenses

-2,794

300

2,314

3,258

5,599

4,587

3,363

4,224

-114

1,607

4,875

5,258

5,822

2,764

1,257

-169

3,576

1,038

1,885

267

-693

1,448

1,504

2,346

1,786

2,495

698

271

-287

-512

-222

-242

36

95

158

400

94

634

0

0

0

Deferred income

-145

16,796

17,707

16,310

16,406

140

0

0

0

-

-

-

-

-

-

-

-

2,501

1,100

1,228

1,126

-2,830

-443

-445

-223

1,937

-189

-413

-339

-339

-340

163

210

212

268

20

137

576

0

0

0

Net cash provided by operating activities

224,200

240,955

236,366

232,566

232,829

207,869

208,447

205,364

198,297

198,095

193,282

188,391

184,016

176,638

172,945

167,624

167,158

164,425

153,724

144,519

135,831

126,143

122,995

117,888

109,223

104,193

96,944

92,319

88,865

86,266

81,933

79,994

80,746

76,854

77,836

77,373

76,006

77,544

0

0

0

Cash flows from investing activities:
Investment in mortgage and other notes receivable

117,528

108,232

174,793

156,801

112,088

106,991

21,268

28,748

27,420

49,853

61,258

81,328

99,615

92,051

94,679

81,342

72,250

92,249

76,100

55,813

44,089

4,447

2,808

11,796

12,213

11,082

20,157

11,479

16,189

16,241

5,796

8,461

4,122

6,566

9,001

7,200

11,718

12,422

0

0

0

Collection of mortgage and other notes receivable

16,885

2,897

3,272

2,129

2,111

4,346

16,783

21,788

33,594

43,168

97,792

92,528

92,352

84,228

18,828

20,585

22,861

21,495

19,234

17,222

3,176

1,456

1,447

4,491

19,721

18,976

33,498

31,212

16,746

17,463

3,800

3,471

4,512

4,540

4,450

7,526

9,538

9,482

0

0

0

Investment in real estate

249,400

219,187

211,427

202,832

167,476

131,758

153,521

158,361

53,607

157,214

203,543

226,058

467,805

359,257

291,214

364,664

115,768

106,315

588,883

494,343

504,208

520,505

537,585

582,215

652,278

635,971

0

0

0

-

-

-

-

75,806

35,193

25,741

22,094

98,736

0

0

0

Payments to Renovate Real Estate

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receipt of earnest money deposit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-525

600

675

750

3,325

0

0

0

Payment of real estate purchase liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,600

1,600

1,600

1,600

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash withheld at closing of real estate acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

0

0

0

Proceeds from disposition of real estate properties

-

-

-

-

-

-

-

-

-

450

450

450

25,173

27,723

27,723

37,316

12,593

9,593

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

8,971

0

0

0

-

-

-

-

Proceeds from sales of marketable securities

-

-

-

-

-

-

-

-

-

18,182

21,340

21,340

60,740

59,607

110,105

113,855

74,455

57,406

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

12,862

12,867

12,937

1,721

75

0

0

0

Net cash used in investing activities

-328,499

-342,521

-405,718

-377,422

-295,743

-250,290

-168,482

-176,832

-62,988

-163,846

-174,510

-227,224

-435,986

-329,838

-277,746

-321,388

-107,561

-136,326

-652,585

-549,145

-561,355

-540,316

-555,168

-584,522

-645,701

-625,824

-125,066

-150,046

-97,893

-99,810

-141,791

-86,289

-65,556

-55,474

-17,306

-6,032

-9,785

-92,029

0

0

0

Cash flows from financing activities:
Proceeds from revolving credit facilities

427,000

397,000

427,000

419,000

345,000

306,000

287,000

295,000

213,000

269,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving credit facilities

108,000

181,000

200,000

473,000

518,000

443,000

431,000

156,000

138,000

206,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in borrowings under revolving credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

88,400

-90,000

51,500

340,000

-136,000

15,000

-500

-207,000

110,000

51,000

-43,000

-103,000

-136,000

-167,000

31,300

33,300

-55,000

0

-95,300

-59,535

28,234

43,823

33,935

-37,765

0

0

0

Proceeds from convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

200,000

200,000

200,000

200,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of secured debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

78,084

78,084

-13,909

116,091

38,007

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings on term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

325,000

225,000

355,000

225,000

130,000

380,000

250,000

460,000

330,000

0

0

0

-

-

-

-

50,000

0

0

0

-

-

-

-

Payments on term loans

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Repayments of Long-term Debt

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

755

748

742

78,254

78,357

78,423

328,515

251,071

270,181

349,930

99,655

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

59

126

184

2,261

2,238

2,171

0

0

0

-

-

-

-

-

-

-

-

2,608

1,906

3,741

3,024

8,443

13,491

11,643

12,788

5,867

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Consideration provided in convertible bond repurchase

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

0

0

146

146

144

144

-2

-1

1

0

200

0

0

0

-

-

-

-

Payments to Noncontrolling Interests

0

-

-

-

0

-

-

-

-

-

-

-

-

1,565

2,289

2,289

2,291

2,292

1,768

2,053

2,053

2,049

2,021

1,674

1,506

1,250

995

618

353

177

0

0

0

-

-

-

-

-

-

-

-

Proceeds from Noncontrolling Interests

656

643

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Value of shares withheld from options exercised for employee tax withholding

3,258

1,559

2,479

2,526

2,841

1,835

715

536

455

571

584

671

1,031

1,133

1,135

822

218

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common shares, net

59,861

95,774

129,693

84,718

117,753

81,784

47,932

87,385

42,384

122,237

122,198

133,772

183,987

104,190

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Stock Issuance Costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid to stockholders

183,856

179,739

175,816

172,463

168,635

165,391

162,614

159,377

156,633

153,040

149,449

145,753

141,529

138,303

134,371

131,063

128,430

124,657

118,181

111,702

105,221

100,650

95,684

90,722

84,645

85,145

83,302

80,886

79,574

78,925

77,337

76,304

75,285

67,893

67,586

66,455

65,310

66,517

0

0

0

Net cash provided by (used in) financing activities

168,563

107,323

177,669

152,945

69,857

44,258

-39,973

-27,599

-136,429

-35,052

-19,624

37,846

228,266

144,165

94,801

154,347

-34,979

-18,100

509,499

400,762

423,469

406,148

428,282

437,322

536,673

523,771

31,162

84,396

8,151

6,830

48,784

-5,806

-29,360

-8,158

-47,497

-61,184

-49,487

-28,569

0

0

0

Increase in cash and cash equivalents and restricted cash

64,264

5,757

8,317

8,089

6,943

1,837

-8

933

-1,120

-803

-852

-987

-23,704

-9,035

-10,000

583

24,618

9,999

10,638

-3,864

-2,055

-8,025

-3,891

-29,312

195

2,140

3,040

26,669

-877

-6,714

-11,074

-12,101

-14,170

13,222

13,033

10,157

16,734

-43,054

0

0

0

Supplemental disclosure of cash flow information:
Interest paid, net of amounts capitalized

54,588

54,027

52,557

49,511

47,879

45,882

0

0

0

-

-

-

0

-

-

-

31,773

31,289

0

0

0

-

-

14,649

11,362

7,964

6,251

4,068

3,716

3,240

0

0

0

-

2,261

1,923

1,633

1,061

0

0

0

Supplemental schedule of non-cash investing and financing activities:
Change in straight-line rent receivable related to investments in real estate

0

38,000

38,000

38,000

38,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in mortgage notes receivable related to investments in real estate

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in mortgage note receivable from sale of real estate

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in other assets related to investments in real estate

115

291

176

176

176

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in accounts payable related to investments in real estate construction

-268

-1,082

-2,549

-2,254

-1,338

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash or Part Noncash Acquisition, Value of Liabilities Assumed

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

633

1,076

0

0

0

-

-

5,189

5,382

3,086

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Change in accounts payable related to investments in real estate acquisition

1,733

2,911

2,867

2,867

2,867

1,689

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in real estate development

-

-

-

-

-

-

-

-

-

10,691

17,504

24,994

28,304

32,102

30,333

25,624

19,079

14,641

11,240

9,706

9,085

8,455

10,065

11,341

13,035

11,926

7,883

3,905

-3,418

0

0

0

0

-

-

-

-

-

-

-

-

Investment in renovations of existing real estate

-

-

-

-

-

15,887

9,686

9,266

8,706

7,888

8,079

5,454

3,919

3,378

1,313

2,156

1,915

3,157

3,890

3,951

4,595

4,211

4,528

5,513

7,248

6,773

5,323

3,336

836

0

0

0

0

-

-

-

-

-

-

-

-

Payments to Acquire Equity Method Investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tenant investment in leased asset

-

-

-

-

-

3,775

0

0

0

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of cash flow hedge

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Settlement of mortgage note by real estate acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,545

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-22,936

0

0

0

Tax deferred exchange funds applied to investment in real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,813

23,813

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Conditional consideration in asset acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,000

4,600

1,600

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-