Northstar realty europe corp. (NRE)
CashFlow / Quarterly
Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-1,434

11,123

171,467

555

37,876

-1,068

2,537

-6,806

-10,538

-15,526

13,899

-12,767

-34,309

-29,325

-34,177

-31,931

-61,741

-16,294

-33,906

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, Depletion and Amortization

5,908

5,913

10,875

11,013

11,976

11,651

14,535

14,396

12,520

12,563

13,715

13,989

18,404

18,871

21,438

19,245

14,674

926

1,088

Amortization of deferred financing costs

350

483

78

767

874

717

473

651

832

857

1,547

1,781

1,745

2,044

2,646

2,492

714

84

18

Amortization of equity-based compensation

1,950

1,287

1,252

1,741

1,186

365

3,715

2,786

1,373

15,857

6,783

4,939

3,508

3,009

837

0

0

0

0

Amortization of discount on borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Allowance for uncollectible accounts

-12

158

-65

-24

368

124

1,078

137

122

144

869

138

-28

315

115

0

0

0

0

Other (gain) loss, net

14

-2,517

1,354

-544

3,531

-3,002

-1,045

-2,237

-7,655

-941

7,731

-5,181

1,159

-15,753

2,470

-8,737

3,629

-6,031

-1,335

Gain on sales, net

3,671

17,725

199,305

2,435

38,319

1,266

15,996

446

1,981

4,970

28,364

4,014

4,622

-2,448

1,413

-72

41

-6

0

Extinguishment of debt

-476

-194

-

-

-1,441

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment following the sale of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Foreign currency loss on deposits included in transaction costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Amortization of capitalized above/below market leases

-248

-251

275

120

122

137

883

-789

253

280

-152

297

1,202

1,116

-605

1,362

402

32

37

Straight line rental income

-226

-98

779

1,409

1,480

3,600

2,450

2,193

357

1,314

656

2,224

988

2,837

2,218

2,036

1,216

225

270

Deferred income tax (benefit)/expense, net

370

185

1,018

-467

162

-151

-1,374

169

-47

-263

-2,763

-1,330

423

-1,282

14,518

-31,631

14,121

0

0

Changes in assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-2,446

1,775

2,367

10,303

5,312

2,220

-1,352

2,839

Receivables

-1,236

776

3,333

2,094

245

-2,765

697

1,456

116

-192

2,044

-4,942

3,280

1,508

-3,281

8,089

3,054

-18

57

Other assets

465

1,547

-1,624

-195

431

2,636

-564

-1,271

887

963

5,732

-3,360

-271

962

-6,087

24,263

-15,629

-1,524

1,726

Accounts payable and accrued expenses

-2,406

1,883

10,563

-1,700

-1,844

-2,337

394

-1,498

-748

-4,166

4,730

-3,289

-3,274

-2,628

-4,942

19,057

13,983

453

549

Due to related party

-5,746

157

5,371

-273

109

839

106

-60

-215

-1,232

1,327

49

76

-465

3,447

0

0

0

0

Other liabilities

2,267

-4,151

3,002

-853

-2,961

2,252

-4,391

-1,827

714

1,988

6,789

-2,639

-885

3,799

612

-6,173

21,491

305

1,549

Net cash provided by (used in) operating activities

-1,213

-452

13,799

4,239

5,303

10,794

2,433

6,572

8,580

4,388

11,230

10,859

2,777

5,981

-1,437

-52,088

9,133

-5,788

-34,222

Cash flows from investing activities:
Acquisition of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,327

283,771

1,635,319

94

89,484

Improvements of operating real estate

1,913

1,307

3,162

3,986

3,886

4,285

7,525

4,591

3,286

2,266

2,555

2,066

2,914

2,878

1,668

630

308

397

161

Payment relating to sale of operating real estate

-

-

-

-

-

-

-

-

-

-20,893

-

-

-

-

-

-

-

-

-

Proceeds from sale of operating real estate

51,849

41,838

767,019

16,116

188,263

260

-

-

-

-

30,455

289,848

72,165

2,758

22,623

0

0

0

0

Settlement of foreign currency forwards

1,416

1,146

-

-

2,631

1,740

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits paid for the acquisition of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

454,710

-

Other assets

-

-

-

-

-

-

-

-

-

288

-3,888

-2,371

10,315

376

0

0

0

0

0

Escrow release

-6

568

1,598

-45

3,151

154

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in receivable

-

-

-

-

-

-

-

-

-

2,243

-

-

0

0

-

-

-

-

-59,758

Deferred leasing costs

18

505

227

632

296

398

-101

2,634

1,179

0

-

-

-

-

-

-

-

-

-

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-111

-2,555

-7,360

-310

-1,049

440

-440

0

Net cash provided by (used in) investing activities

51,328

41,740

754,722

11,078

189,867

-6,529

85,891

3,609

-24,611

20,582

20,975

290,264

61,491

6,864

18,938

-283,352

-1,181,357

-454,761

-149,403

Cash flows from financing activities:
Repayment of mortgage and other notes payable

115,442

17,094

392,576

267

122,145

0

-

-

-

-

9,973

158,605

31,770

318

127,280

0

0

0

0

Borrowings from credit facility

-

-

-

-

-

-

0

0

20,000

15,000

0

0

65,000

0

-

-

-

-

0

Borrowings from mortgage and other notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

77,660

Repayment of credit facility

-

-

-

-

-

-

0

23,000

-3,000

15,000

0

58,642

6,358

0

-

-

-

-

0

Proceeds of issuance of Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Repurchase of Senior Notes

-

-

-

-

-

-

-

-

-

-

-331

42,577

80,900

149,882

-

-

-

-

0

Repayment of Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payment of financing costs

0

0

-14

69

366

445

132

1,387

501

0

-8

1,675

753

1,518

2,165

30,591

-133

847

643

Purchase of derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,249

Settlement of derivatives

-

-

-

-

-

-

-1,688

232

639

817

-1,095

-100

440

755

0

0

0

0

0

Issuance and vesting of restricted stock, net of tax withholding

842

293

0

0

0

0

0

0

0

10,994

2,351

82

-435

548

0

0

0

0

0

Repurchase of common stock

0

0

0

14,092

58,690

10,662

0

0

0

0

-

-

-

-

-

-

-

-

0

Changes on restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2,562

Contribution of NorthStar Realty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Dividends

7,603

7,502

7,529

7,515

7,808

8,392

8,360

8,337

8,340

8,429

8,325

8,873

17,986

0

-

-

-

-

0

Distributions to noncontrolling interest

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to non-controlling interest

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

0

Net transactions with NorthStar Realty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,022

92,752

-189,932

-555,332

-115,200

Distributions to noncontrolling interest

-

-

-

-

-

18

-

-

-

-

-

-

-

-

-

-

-

-

2

Net cash provided by (used in) financing activities

-123,887

-24,889

-392,163

-3,268

-192,806

-19,481

-76,929

-32,362

7,347

-18,606

-116,047

-282,930

-78,071

-153,021

165,931

396,386

1,114,764

554,485

188,408

Effect of foreign currency translation on cash and cash equivalents and restricted cash

-2,165

-3,865

-801

-971

-3,150

2,308

1,943

515

4,533

1,147

-9,645

5,871

-8,502

3,739

2,838

940

-2,738

-150

-2,683

Net increase (decrease) in cash and cash equivalents and restricted cash

-75,937

12,534

375,557

11,078

-786

-12,908

13,338

-21,666

-4,151

7,511

-93,487

24,064

-22,305

-136,437

186,270

61,886

-60,198

93,786

2,100

Reconciliation of cash, cash equivalents and restricted cash
Supplemental disclosure of non-cash investing and financing activities:
Reclassification of operating real estate to assets held for sale

-

-

-

-

-

-

115,427

36,756

2,539

5,929

-21,997

-232,189

264,873

11,640

-8,569

13,887

0

0

0

Conversion of Common Units to common stock

0

132

0

0

0

216

0

258

2,799

0

-

-

-

-

-

-

-

-

-

Redemption of Common Units

-

0

-

-

-

551

-

-

-

0

-

-

-

-

-

-

-

-

0

Reclassification related to measurement adjustments and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reclassification of intangibles to assets and liabilities held for sale

-

-

-

-

-

-

-21,141

24,649

69

890

-913

-34,436

36,357

1,037

-

-

-

0

0

Reclassification of other assets in investing activities to assets held for sale

0

556

-

-

-435

823

-

-

-

-

-

-

-

792

-

-

-

-

0

Formation of Operating Partnership

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Assumption of mortgage note payable upon acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reclassification of other assets to operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reclassification of other assets and liabilities to assets held for sale

-

-

-

-

-

-

-2,856

2,856

-289

289

2,523

-7,593

7,593

0

-

-

-

-

0

Reclassification of other assets and liabilities to assets held for sale

0

556

-

-

-435

823

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax withholding related to vesting of equity-based compensation

-

440

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Retirement of shares of common stock

0

0

-

-

-2,435

2,677

-

-

0

0

-

402

-2,591

3,942

3,342

0

0

0

0

Assumption of working capital items upon acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Assumption of deferred tax liabilities and corresponding goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reallocation of interest in Operating Partnership

40

186

135

-57

65

20

0

16

-1,078

2,879

-296

1,188

522

838

852

0

0

0

0

Amounts payable relating to improvements of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

681

-

-

-

-

-

Amounts payable relating to financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Accrued capital expenditures, deferred assets

1,852

-836

-746

0

916

91

1,920

21

-13

681

1,975

0

0

0

-

-

-

-

0

Payment of interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,355

Payment of income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reclassification related to measurement period adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-