Piedmont Office Realty Trust, Inc. PDM Cash Flow

Piedmont office realty trust, inc. (PDM)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash Flows from Operating Activities:
Net income
8,711	162,476	8,419	8,152	50,209	45,409	16,114	10,940	57,828	-31,388	126,129	23,707	15,101	30,181	-13,121	72,281	10,376	83,961	-1,871	29,980	19,249	11,319	9,166	12,283	9,397	29,626	19,100	35,362	14,655	14,441	10,835	30,712	37,231	119,024	51,030	21,031	33,971	28,703	40,344	19,762	31,585
Operating distributions received from unconsolidated joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	0	190	180	209	209	197	231	137	0	0	0	266	0	554	458	463	533	569	448	788	643	536	595	1,158	1,084	1,095	1,201	1,083
Adjustments to reconcile net income to net cash provided by operating activities:
Income attributable to noncontrolling interest- discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87	131	116	119	-	-	-	-
Depreciation
27,884	26,011	27,131	26,348	26,525	26,844	26,852	27,115	27,145	28,461	30,000	30,059	30,768	32,785	31,610	31,556	31,782	31,033	31,199	36,039	36,232	35,442	35,366	34,144	33,727	32,190	30,927	30,765	29,684	29,550	28,653	27,841	27,606	27,070	27,891	27,747	27,022	26,686	26,010	77,874	-26,080
Amortization of debt issuance costs net of favorable settlement of interest rate swaps
206	-332	158	161	100	-35	-8	-6	-201	374	404	401	409	438	422	417	425	487	415	479	387	279	252	273	774	689	687	650	594	592	663	590	803	651	1,439	2,080	607	612	603	697	696
Other amortization
21,518	19,552	18,407	17,223	16,427	15,448	13,821	13,077	15,984	16,798	18,112	18,905	20,129	21,048	18,413	17,227	17,685	17,130	14,201	15,084	14,806	14,320	14,358	13,303	14,346	11,157	12,990	10,828	8,964	8,584	15,317	11,093	12,485	13,372	15,967	15,411	11,938	11,394	10,115	10,739	11,110
Impairment loss on real estate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,242	0	0	6,402	0	0	0	0	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	0	0	0	-1,665	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	-14,960	0	0	-672	0	-	-	-	-	-	-	-	-	-	-	-	-
Accretion of discount on notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	482	472	568	693	667
Stock compensation expense
3,895	3,081	2,534	5,996	3,835	3,066	1,667	3,979	1,025	2,539	1,254	2,506	2,897	298	1,977	3,184	2,469	2,097	2,621	3,170	901	2,204	1,139	1,271	636	101	719	176	594	754	869	289	334	1,730	1,111	896	968	1,223	1,094	711	653
Equity in income of unconsolidated joint ventures
-	-	-	-	-	-	-	-	-	-27	3,754	107	11	8	129	110	115	135	135	124	159	160	89	-333	-266	-4,280	46	163	395	183	324	246	170	577	485	338	209	630	619	647	737
Gain on sale of real estate assets
3	157,640	32	1,451	37,887	30,505	0	-23	45,209	-77	109,512	6,492	-53	19,652	-57	73,835	-20	75,859	17,140	26,611	10,073	-1,206	0	2,444	-106	15,034	0	16,258	0	-6	-255	10,006	17,832	95,901	26,756	0	0	-	-	-	-
Gain on consolidation of variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-388	1,920	-	-	-	-
Changes in assets and liabilities:
Increase in tenant and straight-line rent receivables
10,011	5,046	1,977	4,350	4,333	3,733	5,387	1,926	5,048	6,352	1,962	7,035	6,043	9,354	8,598	3,664	5,131	6,482	6,549	5,213	11,234	11,228	15,041	12,865	1,371	4,844	8,304	6,268	9,685	6,362	7,103	5,039	3,216	3,605	6,023	4,976	-1,309	3,986	2,123	-418	-127
(Increase)/decrease in restricted cash and escrows
-	-	-	-	-	-	-	-	-	-	-	-	-	-	779	179	-4,409	-	20,067	118	148	21	-3	160	-43	9	-7	67	-9	-22,518	-25,194	22,938	16,069	-34,512	12,438	-108	3,462	3,999	2,999	2,769	2,051
Increase in prepaid expenses and other assets
-753	-2,267	-5,686	9,214	-1,570	-5,401	2,044	8,427	-1,975	-5,572	-1,720	8,654	-1,746	-4,866	-1,316	4,727	18	-4,405	774	6,108	-1,037	-8,704	3,526	3,595	3,467	-3,962	2,559	4,659	171	502	5,939	-5,263	2,659	-2,137	-517	4,399	982	-7,036	3,115	3,591	2,288
Cash received upon settlement of interest rate swaps
-	-	-	-	-	-	-	0	807	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in accounts payable and accrued expenses
-6,941	-8,755	2,759	9,185	-14,440	1,285	3,295	9,044	-22,716	4,342	-392	11,537	-17,008	3,248	10,092	3,440	-13,225	8,122	1,478	1,312	-11,074	-2,622	7,013	-1,046	-350	-7,725	14,256	-1,843	-11,122	8,969	4,614	1,004	-6,101	1,688	7,689	2,299	-8,165	4,538	-2,050	15,390	-5,820
Increase/(decrease) in deferred income
785	-373	3,266	-355	-1,762	1,367	1,574	-3,894	55	-497	2,641	-3,381	2,253	-588	4,891	-3,684	822	994	-616	490	3,745	199	-20	-1,176	720	-4,452	7,881	-4,892	2,033	-2,558	443	-8,363	4,709	-8,884	353	-7,266	-337	1,321	-34	-5,163	4,573
Net cash provided by operating activities
46,797	48,241	68,304	51,695	40,244	64,547	55,077	49,935	33,310	66,425	64,640	61,446	50,294	59,811	69,292	53,036	49,708	89,427	37,774	52,681	43,806	59,642	48,621	38,842	70,053	51,183	77,110	44,761	42,025	78,322	74,046	30,648	37,909	90,906	60,962	53,692	61,535	71,900	68,150	71,356	64,344
Cash Flows from Investing Activities:
(Acquisition of real estate assets and intangibles)/return of escrowed purchase price
396,846	56	231,563	95,281	-700	123,738	0	29	28,147	35,262	0	0	0	-	-	-	-	311,947	30,791	3,631	41,554	7,488	80,750	28,780	400	116,055	2,628	0	247,499	-	-	-	-	-	-	-	-	-	-	-	-
Capitalized expenditures
32,318	46,185	25,089	16,844	15,435	27,107	18,522	13,716	12,760	14,424	7,087	30,117	28,203	21,837	33,969	27,885	26,537	36,754	19,330	22,783	39,804	46,087	53,868	41,749	27,187	63,502	28,152	50,220	34,114	-	-	-	-	-	-	-	-	-	-	-	-
Net sales proceeds from wholly-owned properties
62	-	-12,633	-1	-168,341	-	3	-4,479	-415,078	-	-352,176	-23,087	64	-61,016	-103,212	-156,290	-45,400	696,605	63,639	62,122	25,803	-8	0	23,918	22,322	46,345	0	45,923	3,403	18,994	25,600	24,406	24,839	223,744	68,041	0	0	-	-	-	-
Redemption of noncontrolling interest in unconsolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in real estate assets and real estate related intangibles, net of accruals
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,075	-	99,201	46,996	29,125	72,769	22,670	8,893	9,815
Cash assumed upon consolidation of variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,063	-	-	-	-
Investments in unconsolidated joint ventures
-	-	-	-	-	-	-	-	-	0	878	0	284	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8
Note receivable issuance
-	-	-	-	-	0	0	0	3,200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in unconsolidated joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	0	16	105	672	136	0	0	0	0	-7	32	126	-	-	-	-
Deferred lease costs paid
19,581	9,007	11,274	3,213	2,145	11,599	5,612	7,623	2,596	11,566	9,856	5,293	4,270	10,551	9,079	3,406	2,860	13,794	13,211	6,264	4,414	6,962	9,362	7,190	4,180	10,401	10,717	5,283	7,897	9,373	24,083	9,362	5,874	19,640	7,260	7,768	12,381	7,176	4,322	9,119	-2,917
Net cash (used in)/provided by investing activities
-448,807	353,544	-255,293	-115,337	151,461	-3,571	-24,137	-16,889	368,375	-60,933	346,689	-12,323	-32,821	-88,292	-162,584	114,999	16,003	334,110	307	29,444	-63,969	-65,695	-143,980	-47,826	-9,445	-143,613	-55,755	-9,685	-286,779	-24,566	-37,704	-7,096	5,890	163,722	-35,698	-54,475	-36,569	-28,263	-27,013	-12,178	-12,740
Cash Flows from Financing Activities:
Debt issuance and other costs paid
146	60	3	52	36	93	699	147	101	31	-1	39	63	52	74	39	99	33	218	588	242	182	96	562	454	1,445	104	3,296	47	134	2,979	0	12	1,966	1,318	83	0	41	15	653	1
Proceeds from debt
792,625	42,000	297,000	138,000	115,000	157,001	46,836	57,000	716,225	33,000	0	47,000	100,000	143,000	341,000	33,000	178,000	96,001	151,000	797,282	257,575	72,963	133,000	82,000	764,564	253,001	137,999	400,604	294,000	-	-	-	49,000	360,000	120,000	334,000	15,000	-	-	-	-
Repayments of debt
341,175	439,978	80,378	42,374	235,289	187,450	52,284	26,362	754,359	10,355	350,352	60,349	55,345	117,343	231,935	152,335	205,262	488,399	43,326	803,322	209,254	29,382	5,250	42,070	737,000	74,000	24,000	391,000	11,000	63,500	187,500	45,000	169,000	430,875	93,000	299,000	0	25,000	0	0	114,000
Discount paid due to loan modification
525	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs of issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	103	197	0	42	0	0	236	90	0	0	0	0	-	-	-	-	0	0	0	229	252	0	0	0	11	-263	-55	186,081
Value of shares withheld for payment of taxes related to employee stock compensation
1,596	0	0	2,240	1,055	0	6	1,476	737	18	5	2,252	1,128	16	45	1,742	541	45	11	1,478	176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of common stock as part of announced plan
0	0	0	0	16,899	32,476	0	32,898	233,164	56,579	3,895	0	0	0	0	0	7,943	3,207	115,739	39,914	0	117	0	170	54,515	61,926	96,781	14,833	11	8,320	41,252	38,878	0	-	-	-	-	-	-	-	-
Dividends paid and discount on dividend reinvestments
52,881	14	26,495	26,522	53,402	20	26,965	26,997	130,111	37	30,573	30,584	61,080	7	30,534	30,542	30,533	30,621	31,082	32,351	32,477	32,463	30,908	30,922	30,905	32,199	32,930	33,602	33,570	33,608	33,717	34,484	34,569	54,729	56,222	54,881	54,533	-	-	-	-53,777
Redemption of fractional shares of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,917
Net cash provided by/(used in) financing activities
396,302	-398,503	189,865	66,812	-191,681	-63,123	-33,118	-30,880	-402,247	-34,105	-384,847	-46,298	-17,616	25,479	78,215	-151,658	-66,420	-426,304	-39,376	-80,607	15,336	9,544	95,611	8,276	-58,310	83,431	-15,883	-42,151	249,372	-61,562	-42,448	-25,362	-154,810	-131,066	-30,540	-19,964	-39,533	-54,458	-54,664	-55,106	15,386
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows
-5,708	3,282	2,876	3,170	24	-2,147	-2,178	2,166	-562	-28,613	26,482	2,825	-143	-3,002	-15,077	16,377	-709	-2,767	-1,295	1,518	-4,827	3,491	252	-708	2,298	-8,999	5,472	-7,075	4,618	-7,806	-6,106	-1,810	-111,011	123,562	-5,276	-20,747	-14,567	-10,821	-13,527	4,072	66,990
Change in accrued share repurchases as part of an announced plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-169	-1,836	-	-2,250	2,976	0	-	-	-	-	-	-	-	-	-	-	-	-
Accrued capital expenditures and deferred lease costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-522	13,270	11,876	-	8,658	2,984	12,946	-	4,563	-711	13,721	-	29,505	-21,662	30,994	-	-1,316	8,083	4,410	-	7,284	-1,129	3,240	-	529	-174	894
Accrued deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in accrued offering costs related to issuance of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	479	-	-	-	-
Change in accrued offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,608
Net assets assumed upon consolidation of variable interest entity, net of notes receivable previously recorded
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	50	188,233	-	-	-	-
Liabilities assumed upon consolidation of variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	438	191,376	-	-	-	-
Redeemable common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	75,164