Ps business parks inc/ca (PSB)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Cash flows from operating activities
Net income

203,972

271,901

179,316

144,984

148,970

204,700

116,144

95,372

102,640

102,022

94,339

85,347

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

104,249

99,242

94,270

99,486

105,394

110,357

108,917

109,494

84,682

78,868

85,094

99,848

In-place lease adjustment

-

-

-

-

-

901

-118

-501

843

571

-252

-194

Tenant improvement reimbursement amortization, net of lease incentive amortization

-1,028

-2,226

-2,183

-1,666

-1,861

-1,580

-1,414

-1,315

-769

-603

-326

-379

Equity in loss of unconsolidated joint venture

-

-

-805

-

-

-

-

-

-

-

-

-

Gain on sale of real estate facilities and development rights

16,644

93,484

7,574

-

28,235

92,373

-

935

2,717

5,153

1,488

-

Amortization of mortgage note premium

-

-

-

-

-

-

-

-

-215

-285

-271

-260

Stock compensation expense

4,956

4,174

4,777

10,913

9,245

9,580

-2,532

5,434

1,965

2,116

2,900

4,061

Amortization of financing costs

544

537

475

523

706

-

-

-

-

-

-

-

Other, net

-5,454

-3,991

1,728

-3,733

4,620

-

-

-

-

-

-

-

Decrease (increase) in receivables and other assets

-

-

-

-

-

-792

247

5,025

3,074

2,809

-262

-1,759

Increase (decrease) in accrued and other liabilities

-

-

-

-

-

-2,395

1,308

5,601

-2,735

2,389

-633

-845

Total adjustments

86,623

4,252

92,298

105,523

89,869

23,480

106,150

113,755

77,980

75,094

85,286

103,990

Net cash provided by operating activities

290,595

276,153

271,614

250,507

238,839

228,180

222,294

209,127

180,620

177,116

179,625

189,337

Cash flows from investing activities
Capital expenditures to real estate facilities

39,365

38,663

50,219

31,877

43,654

51,786

58,175

56,772

48,367

39,553

29,513

35,192

Capital expenditures to land and building held for development

5,278

1,183

1,549

49

2,809

2,189

752

-

-

-

-

-

Investment in and advances to unconsolidated joint venture

-

-

34,513

40,454

5,566

-

-

-

-

-

-

-

Acquisition of real estate facilities

134,278

142,399

-

12,628

-

45,021

112,955

51,022

297,738

296,251

-

-

Acquisition of land held for development

-

-

-

-

-

-

990

-

-

-

-

-

Proceeds from sale of real estate facility

144,599

145,097

2,144

-

55,160

212,184

-

2,065

8,999

9,181

2,557

-

Proceeds from sale of development rights

-

-

4,900

-

-

-

-

-

-

-

-

-

Consolidation of joint venture

-

1,082

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-34,322

-36,066

-79,237

-85,008

3,131

113,188

-172,872

-105,729

-337,106

-326,623

-26,956

-35,192

Cash flows from financing activities
Borrowings on credit facility

70,000

50,000

250,000

116,000

-

-

115,000

154,000

185,000

93,000

-

-

Borrowings on term loan

-

-

-

-

-

-

-

-

250,000

-

-

-

Note payable to affiliate

-

-

-

-

-

-

-

-

121,000

-

-

-

Note receivable from affiliate

-

-

-

-

-

-

100,000

-

-

-

-

-

Repayment of borrowings on credit facility

70,000

50,000

250,000

116,000

-

-

115,000

339,000

93,000

-

-

-

Repayment of borrowings on term loan debt

-

-

-

-

-

-

200,000

50,000

-

-

-

-

Repayment of note payable to affiliate

-

-

-

-

-

-

-

-

121,000

-

-

-

Repayment of note receivable from affiliate

-

-

-

-

-

-

100,000

-

-

-

-

-

Principal payments on mortgage notes payable

-

-

-

-

-

-

47

828

1,032

1,091

1,022

1,157

Repayment of mortgage note payable

-

-

-

250,000

-

-

18,055

13,154

18,180

-

5,128

-

Payment of financing costs

296

307

858

-

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

969

3,000

4,200

3,888

5,089

3,054

4,682

5,907

1,050

7,783

1,177

792

Cash paid for taxes in lieu of shares upon vesting of restricted stock units

6,350

4,981

3,865

1,940

767

409

-

-

-

-

-

-

Redemption/repurchase of preferred units

-

-

-

-

-

-

-

5,583

39,087

20,000

12,335

5,481

Shelf registration costs

-

-

-

-

-

-

-

-

-

-

-75

-

Redemption of preferred stock

340,000

130,000

450,000

-

75,000

-

-

523,546

-

102,500

50,199

-

Net proceeds from the issuance of preferred stock

316,038

-

415,779

183,316

-

-

106,311

784,392

-

72,513

-

-

Cash paid to restricted stock unit holders

910

1,142

761

569

-

-

-

-

-

-

-

-

Distributions paid to preferred shareholders

54,300

52,600

52,200

57,276

59,398

60,488

59,216

51,969

41,799

-42,730

-44,662

-50,858

Repurchase of common stock

-

-

-

-

-

-

-

-

30,252

-

230

21,626

Distributions paid to noncontrolling interests - preferred units

-

-

-

-

-

-

-

174

398

-4,521

-5,848

-7,007

Distributions paid to common shareholders

115,200

103,800

92,500

81,285

59,377

127,838

43,972

42,684

43,046

43,254

39,509

35,978

Distributions paid to noncontrolling interests - common units

30,700

27,800

24,800

21,916

16,072

34,701

12,856

12,856

12,856

-12,856

-12,856

-12,856

Distributions paid to noncontrolling interests - joint venture

134

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from the issuance of common stock

-

-

-

-

-

-

192,329

-

-

-

171,232

-

Net cash used in financing activities

-230,866

-317,590

-205,036

-225,782

-205,525

-220,382

-30,824

-95,495

156,400

-53,656

545

-134,171

Net increase in cash and cash equivalents

25,407

-77,503

-12,659

-60,283

36,445

120,986

18,598

7,903

-86

-203,163

153,214

19,974

Supplemental disclosures
Interest paid

67

40

1,188

7,395

14,197

14,200

15,934

18,872

5,041

-3,547

3,523

4,050

Adjustment to noncontrolling interests- common units in the OP
Noncontrolling interests- common units

-145

-5

-271

2,313

2,752

2,201

28,031

-349

5,689

901

30,640

-1,887

Paid-in capital

145

5

271

-2,313

-2,752

-2,201

-28,031

349

-5,689

-901

-30,640

1,887

Preferred redemption allocation
Noncontrolling interest - common units

-

-

-

-

-

-

-

-149

-1,359

-582

-580

-

Paid-in capital

11,007

-

10,978

7,312

2,487

-

-

17,316

1,359

-4,066

-3,363

-291

Accumulated earnings (deficit)

-11,007

-

-10,978

-7,312

-2,487

-

-

-17,167

-

-3,484

-2,783

-291

Preferred stock called for redemption
Preferred stock called for redemption and reclassified to liabilities

-

-

130,000

230,000

-

-

-

-

-

-

-

-

Preferred stock called for redemption and reclassified from equity

-

-

-130,000

-230,000

-

-

-

-

-

-

-

-

Consolidation of joint venture
Land

-

21,814

-

-9,676

-

-

-5,927

-

-

-

-

-

Buildings and improvements

-

84,903

-

-19,092

-

-

-10,270

-

-

-

-

-

Other, net

-

-1,787

-

-

-

-

-

-

-

-

-

-

Investment in and advances to unconsolidated joint venture

-

-100,898

-

-

21,170

-

-

-

-

-

-

-

Noncontrolling interests - joint venture

-

4,032

-

-

-

-

-

-

-

-

-

-

Accrued preferred stock distributions
Accrued and other liabilities

-

-

693

-

-

-

-

-

-

-

-

-

Accumulated earnings (deficit)

-

-

-693

-807

-

-

-

-

-

-

-

-

Accumulated depreciation

-

-

-

7,870

-

-

778

-

-

-

-

-

Land and building held for development

-

-

-

20,898

-21,170

-

15,419

-

-

-

-

-

Paid-in capital

-

-

-

807

-

-

-

-

8,748

-

39,002

4,519

Preferred units

-

-

-

-

-

-

-

-

-8,748

-

-8,997

-

Preferred stock

-

-

-

-

-

-

-

-

-

-

-30,005

-4,519

Real estate facilities

-

-

-

-

-

-

-

-

-250,000

-

-

-

Mortgage notes payable

-

-

-

-

-

-

-

-

250,000

-

-

-