Northstar realty europe corp. (NRE)
CashFlow / TTM
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

181,711

221,021

208,830

39,900

32,539

-15,875

-30,333

-18,971

-24,932

-48,703

-62,502

-110,578

-129,742

-157,174

-144,143

-143,872

0

0

0

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

33,709

39,777

45,515

49,175

52,558

53,102

54,014

53,194

52,787

58,671

64,979

72,702

77,958

74,228

56,283

35,933

0

0

0

Amortization of deferred financing costs

1,678

2,202

2,436

2,831

2,715

2,673

2,813

3,887

5,017

5,930

7,117

8,216

8,927

7,896

5,936

3,308

0

0

0

Amortization of equity-based compensation

6,230

5,466

4,544

7,007

8,052

8,239

23,731

26,799

28,952

31,087

18,239

12,293

7,354

3,846

837

0

0

0

0

Amortization of discount on borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Allowance for uncollectible accounts

57

437

403

1,546

1,707

1,461

1,481

1,272

1,273

1,123

1,294

540

402

430

115

0

0

0

0

Other (gain) loss, net

-1,693

1,824

1,339

-1,060

-2,753

-13,939

-11,878

-3,102

-6,046

2,768

-12,044

-17,305

-20,861

-18,391

-8,669

-12,474

0

0

0

Gain on sales, net

223,136

257,784

241,325

58,016

56,027

19,689

23,393

35,761

39,329

41,970

34,552

7,601

3,515

-1,066

1,376

-37

0

0

0

Extinguishment of debt

0

0

-

-

0

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

-104

266

654

1,262

353

484

627

-408

678

1,627

2,463

2,010

3,075

2,275

1,191

1,833

0

0

0

Straight line rental income

1,864

3,570

7,268

8,939

9,723

8,600

6,314

4,520

4,551

5,182

6,705

8,267

8,079

8,307

5,695

3,747

0

0

0

Deferred income tax (benefit)/expense, net

1,106

898

562

-1,830

-1,194

-1,403

-1,515

-2,904

-4,403

-3,933

-4,952

12,329

-17,972

-4,274

-2,992

-17,510

0

0

0

Changes in assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

11,999

19,757

20,202

16,483

9,019

0

0

0

Receivables

4,967

6,448

2,907

271

-367

-496

2,077

3,424

-2,974

190

1,890

-3,435

9,596

9,370

7,844

11,182

0

0

0

Other assets

193

159

1,248

2,308

1,232

1,688

15

6,311

4,222

3,064

3,063

-8,756

18,867

3,509

1,023

8,836

0

0

0

Accounts payable and accrued expenses

8,340

8,902

4,682

-5,487

-5,285

-4,189

-6,018

-1,682

-3,473

-5,999

-4,461

-14,133

8,213

25,470

28,551

34,042

0

0

0

Due to related party

-491

5,364

6,046

781

994

670

-1,401

-180

-71

220

987

3,107

3,058

2,982

3,447

0

0

0

0

Other liabilities

265

-4,963

1,440

-5,953

-6,927

-3,252

-3,516

7,664

6,852

5,253

7,064

887

-2,647

19,729

16,235

17,172

0

0

0

Net cash provided by (used in) operating activities

16,373

22,889

34,135

22,769

25,102

28,379

21,973

30,770

35,057

29,254

30,847

18,180

-44,767

-38,411

-50,180

-82,965

0

0

0

Cash flows from investing activities:
Acquisition of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,921,511

2,008,668

0

0

0

Improvements of operating real estate

10,368

12,341

15,319

19,682

20,287

19,687

17,668

12,698

10,173

9,801

10,413

9,526

8,090

5,484

3,003

1,496

0

0

0

Payment relating to sale of operating real estate

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

Proceeds from sale of operating real estate

876,822

1,013,236

971,658

0

0

0

-

-

-

-

395,226

387,394

97,546

25,381

22,623

0

0

0

0

Settlement of foreign currency forwards

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Deposits paid for the acquisition of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Other assets

-

-

-

-

-

-

-

-

-

4,344

4,432

8,320

10,691

376

0

0

0

0

0

Escrow release

2,115

5,272

4,858

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in receivable

-

-

-

-

-

-

-

-

-

0

-

-

0

0

-

-

-

-

0

Deferred leasing costs

1,382

1,660

1,553

1,225

3,227

4,110

3,712

0

0

0

-

-

-

-

-

-

-

-

-

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-10,336

-11,274

-8,279

-1,359

-1,049

0

0

0

Net cash provided by (used in) investing activities

858,868

997,407

949,138

280,307

272,838

58,360

85,471

20,555

307,210

393,312

379,594

377,557

-196,059

-1,438,907

-1,900,532

-2,068,873

0

0

0

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

525,379

532,082

514,988

0

0

0

-

-

-

-

200,666

317,973

159,368

127,598

127,280

0

0

0

0

Borrowings from credit facility

-

-

-

-

-

-

35,000

35,000

35,000

80,000

65,000

0

0

0

-

-

-

-

0

Borrowings from mortgage and other notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Repayment of credit facility

-

-

-

-

-

-

35,000

35,000

70,642

80,000

65,000

0

0

0

-

-

-

-

0

Proceeds of issuance of Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Repurchase of Senior Notes

-

-

-

-

-

-

-

-

-

-

273,028

0

0

0

-

-

-

-

0

Repayment of Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payment of financing costs

55

421

866

1,012

2,330

2,465

2,020

1,880

2,168

2,420

3,938

6,111

35,027

34,141

33,470

31,948

0

0

0

Purchase of derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Settlement of derivatives

-

-

-

-

-

-

0

593

261

62

0

1,095

1,195

755

0

0

0

0

0

Issuance and vesting of restricted stock, net of tax withholding

1,135

293

0

0

0

0

10,994

13,345

13,427

12,992

2,546

195

113

548

0

0

0

0

0

Repurchase of common stock

14,092

72,782

83,444

83,444

69,352

10,662

0

0

0

0

-

-

-

-

-

-

-

-

0

Changes on restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Contribution of NorthStar Realty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Dividends

30,149

30,354

31,244

32,075

32,897

33,429

33,466

33,431

33,967

43,613

35,184

0

0

0

-

-

-

-

0

Distributions to noncontrolling interest

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to non-controlling interest

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

0

Net transactions with NorthStar Realty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-653,534

-767,712

0

0

0

Distributions to noncontrolling interest

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by (used in) financing activities

-544,207

-613,126

-607,718

-292,484

-321,578

-121,425

-120,550

-159,668

-410,236

-495,654

-630,069

-348,091

331,225

1,524,060

2,231,566

2,254,043

0

0

0

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

-7,802

-8,787

-2,614

130

1,616

9,299

8,138

-3,450

1,906

-11,129

-8,537

3,946

-985

4,779

890

-4,631

0

0

0

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

323,232

398,383

372,941

10,722

-22,022

-25,387

-4,968

-111,793

-66,063

-84,217

-228,165

51,592

89,414

51,521

281,744

97,574

0

0

0

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

-

-

-

-

-

-

160,651

23,227

-245,718

16,616

22,327

35,755

281,831

16,958

5,318

13,887

0

0

0

Conversion of Common Units to common stock

132

132

216

216

474

3,273

3,057

0

0

0

-

-

-

-

-

-

-

-

-

Redemption of Common Units

-

0

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

0

Reclassification related to measurement adjustments and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reclassification of intangibles to assets and liabilities held for sale

-

-

-

-

-

-

4,467

24,695

-34,390

1,898

2,045

0

0

0

-

-

-

0

0

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

0

0

-

-

0

0

-

-

-

-

-

-

-

0

-

-

-

-

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

-

-

-

-

-

-

0

5,379

-5,070

2,812

2,523

0

0

0

-

-

-

-

0

Reclassification of other assets and liabilities to assets held for sale

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax withholding related to vesting of equity-based compensation

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Retirement of shares of common stock

0

0

-

-

0

0

-

-

0

-3,942

-

5,095

4,693

7,284

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

304

329

163

28

101

-1,042

1,817

1,521

2,693

4,293

2,252

3,400

2,212

1,690

852

0

0

0

0

Amounts payable relating to improvements of operating real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

Amounts payable relating to financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Accrued capital expenditures, deferred assets

270

-666

261

2,927

2,948

2,019

2,609

2,664

2,643

2,656

1,975

0

0

0

-

-

-

-

0

Payment of interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Payment of income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Reclassification related to measurement period adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-