Ps business parks inc/ca (PSB)
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

222,425

203,972

195,632

193,965

246,951

271,901

264,204

261,992

203,808

179,316

173,426

169,789

159,537

144,984

138,426

145,709

141,095

148,970

235,712

218,913

217,254

204,700

122,761

120,130

118,956

116,144

104,789

101,637

98,516

95,372

90,929

97,860

99,812

102,640

104,738

97,671

98,854

102,022

0

0

0

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

105,993

104,249

101,600

100,587

100,235

99,242

97,310

95,862

95,074

94,270

95,065

95,937

97,523

99,486

101,037

102,391

104,202

105,394

106,053

106,879

108,149

110,357

0

0

0

-

-

-

109,156

109,494

102,764

97,303

91,122

84,682

84,152

83,929

81,537

78,868

0

0

0

In-place lease adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,133

-

1,233

1,123

1,015

901

702

444

151

-118

-1,051

-908

-732

-501

602

708

793

843

881

894

817

571

0

0

0

Tenant improvement reimbursement amortization, net of lease incentive amortization

-880

-1,028

-1,324

-1,755

-2,089

-2,226

-2,219

-2,461

-2,336

-2,183

-2,067

-1,676

-1,605

-1,666

-1,696

-1,767

-1,887

-1,861

-1,804

-1,681

-1,539

-1,580

-1,614

-1,628

-1,575

-1,414

-1,748

-1,590

-1,422

-1,315

-715

-687

-745

-769

-827

-770

-634

-603

0

0

0

Gain on sale of real estate facilities and development rights

0

-

-

-

-

93,484

87,783

87,783

30,544

7,574

0

0

0

-

-

-

-

28,235

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,153

0

0

0

Amortization of mortgage note premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-215

-249

-263

-277

-285

0

0

0

Stock compensation expense

4,927

4,956

5,232

4,282

4,036

4,174

4,455

2,912

3,803

4,777

5,235

7,476

10,191

10,913

11,229

11,291

9,646

9,245

10,413

10,719

10,754

9,580

-431

-1,262

-2,725

-2,532

5,388

5,385

5,591

5,434

4,824

3,820

2,773

1,965

1,666

1,803

1,959

2,116

0

0

0

Amortization of financing costs

545

544

547

546

546

537

537

512

467

475

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-898

-5,454

-239

-3,856

-6,060

-3,991

-7,220

-5,603

-3,247

1,728

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in receivables and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

65

-

2,266

6,826

1,155

-792

-243

-2,601

1,729

247

749

-509

3,745

5,025

6,723

8,205

3,028

3,074

2,158

1,983

2,652

2,809

0

0

0

Increase (decrease) in accrued and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,713

-

1,571

1,094

-473

-2,395

2,913

1,735

1,923

1,308

1,644

-3,791

-1,649

5,601

5,094

5,216

3,255

-2,735

-1,531

-1,023

1,281

2,389

0

0

0

Total adjustments

73,422

86,623

97,615

91,603

30,019

4,252

5,127

3,862

64,022

92,298

95,460

99,401

101,319

105,523

109,471

100,516

100,854

89,869

-7,875

4,202

9,861

23,480

112,686

113,065

106,140

106,150

112,106

108,460

107,410

113,755

105,808

95,341

91,299

77,980

79,217

82,587

82,031

75,094

0

0

0

Net cash provided by operating activities

295,847

290,595

293,247

285,568

276,970

276,153

269,331

265,854

267,830

271,614

268,886

269,190

260,856

250,507

247,897

246,225

241,949

238,839

227,837

223,115

227,115

228,180

235,447

233,195

225,096

222,294

216,895

210,097

205,926

209,127

196,737

193,201

191,111

180,620

183,955

180,258

180,885

177,116

0

0

0

Cash flows from investing activities
Capital expenditures to real estate facilities

38,758

39,365

39,118

41,083

39,172

38,663

37,327

41,939

48,589

50,219

46,356

40,777

34,050

31,877

32,817

34,252

39,581

43,654

48,187

53,401

52,131

51,786

54,043

55,703

58,710

58,175

55,732

55,003

55,411

56,772

62,349

57,297

51,377

48,367

41,023

39,405

40,541

39,553

0

0

0

Capital expenditures to land and building held for development

6,165

5,278

3,539

1,773

1,462

1,183

930

1,452

1,504

1,549

0

0

0

-

-

-

-

2,809

3,223

2,816

2,733

2,189

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in and advances to unconsolidated joint venture

-

-

-

-

-

-

-

-

-

34,513

41,815

51,665

51,428

40,454

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of real estate facilities

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

296,251

0

0

0

Proceeds from sale of real estate facility

0

-

-

-

-

145,097

0

0

0

-

-

-

-

-

-

-

-

55,160

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,181

0

0

0

Proceeds from sale of development rights

-

-

-

-

-

-

-

-

-

4,900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Consolidation of joint venture

-

-

-

-

-

1,082

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-18,759

-34,322

-142,087

-38,331

-79,607

-36,066

-54,590

-65,434

-22,295

-79,237

-84,812

-101,075

-95,946

-85,008

-79,811

-23,351

-20,054

3,131

189,755

135,436

136,789

113,188

-174,753

-171,566

-174,035

-172,872

-82,168

-104,013

-104,368

-105,729

-367,336

-319,423

-340,116

-337,106

-199,605

-238,687

-278,375

-326,623

0

0

0

Cash flows from financing activities
Borrowings on credit facility

-

-

-

-

-

50,000

130,000

132,000

152,000

250,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

154,000

0

0

0

-

-

-

-

-

-

-

-

Note payable to affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

121,000

0

0

0

-

-

-

-

Repayment of borrowings on credit facility

-

-

-

-

-

50,000

130,000

223,000

256,500

250,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

339,000

339,000

309,000

389,000

93,000

0

0

0

-

-

-

-

Repayment of borrowings on term loan debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

200,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on mortgage notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

47

239

453

665

828

844

905

964

1,032

1,105

1,100

1,095

1,091

0

0

0

Repayment of mortgage note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,055

0

0

0

-

-

-

-

18,180

0

0

0

-

-

-

0

Payment of financing costs

315

296

317

316

316

307

307

282

237

858

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

-

969

2,030

2,481

3,152

3,000

1,887

3,271

3,764

4,200

4,924

5,145

3,677

3,888

4,058

3,989

5,204

5,089

3,987

2,611

1,806

3,054

3,354

3,466

5,121

4,682

5,023

6,018

4,539

5,907

5,266

3,548

3,068

1,050

2,451

2,937

6,078

7,783

0

0

0

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

4,550

6,350

6,081

5,981

5,952

4,981

5,000

4,962

5,038

3,865

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption/repurchase of preferred units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39,087

0

0

0

-

-

-

-

Redemption of preferred stock

-

-

-

-

-

130,000

350,000

350,000

350,000

450,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

523,546

0

0

0

-

-

-

-

-

-

-

-

Net proceeds from the issuance of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

106,311

106,311

328,992

668,015

784,392

0

0

0

-

-

-

-

-

-

-

-

Cash paid to restricted stock unit holders

824

910

1,006

1,086

1,115

1,142

1,014

898

840

761

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to preferred shareholders

53,300

54,300

51,900

51,800

51,904

52,600

53,328

53,018

52,605

52,200

54,250

55,493

56,734

57,276

55,530

56,819

58,109

59,398

60,488

60,488

60,488

60,488

60,488

60,488

60,784

59,216

58,469

55,810

77,449

51,969

110,742

87,829

40,323

41,799

-41,975

-41,605

-42,025

-42,730

0

0

0

Distributions paid to noncontrolling interests - preferred units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

174

870

771

398

398

-1,283

-2,168

-3,238

-4,521

0

0

0

Distributions paid to common shareholders

115,300

115,200

115,000

114,900

109,329

103,800

98,236

92,693

92,594

92,500

89,717

86,894

84,082

81,285

77,153

73,027

66,193

59,377

130,643

127,893

127,859

127,838

52,165

49,442

46,719

43,972

42,847

42,790

42,731

42,684

42,611

42,621

42,828

43,046

43,286

43,430

43,374

43,254

0

0

0

Distributions paid to noncontrolling interests - common units

30,700

30,700

30,700

30,700

29,290

27,800

26,271

24,781

24,800

24,800

24,108

23,377

22,647

21,916

20,820

19,725

17,898

16,072

35,432

34,701

34,701

34,701

14,172

13,733

13,295

12,856

12,856

12,856

19,284

12,856

32,140

25,712

12,856

12,856

-12,856

-12,856

-12,856

-12,856

0

0

0

Distributions paid to noncontrolling interests - joint venture

172

134

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-228,570

-230,866

-153,098

-212,405

-197,175

-317,590

-338,712

-198,614

-211,102

-205,036

-55,344

-165,321

-354,341

-225,782

-415,212

-419,366

-214,663

-205,525

-222,985

-220,880

-221,651

-220,382

-21,142

-17,868

-13,348

-30,824

-276,536

-90,358

-99,558

-95,495

326,630

126,322

150,513

156,400

85

17,669

-67,244

-53,656

0

0

0

Net increase in cash and cash equivalents

48,518

25,407

-1,938

34,832

188

-77,503

-123,971

1,806

34,433

-12,659

128,730

2,794

-189,431

-60,283

-247,126

-196,492

7,232

36,445

194,607

137,671

142,253

120,986

39,552

43,761

37,713

18,598

-141,809

15,726

2,000

7,903

156,031

100

1,508

-86

-15,565

-40,760

-164,734

-203,163

0

0

0

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

-

-145

-300

-427

-246

-5

-605

-957

-845

-271

581

1,363

1,750

2,313

2,216

2,727

2,544

2,752

2,878

2,272

2,203

2,201

29,047

28,912

28,812

28,031

843

174

-667

-349

-585

-3,853

-3,428

5,689

5,475

9,119

9,840

901

0

0

0

Paid-in capital

-

145

300

427

246

5

605

957

845

271

-581

-1,363

-1,750

-2,313

-2,216

-2,727

-2,544

-2,752

-2,878

-2,272

-2,203

-2,201

-29,047

-28,912

-28,812

-28,031

-843

-174

667

349

585

3,853

3,428

-5,689

-5,475

-9,119

-9,840

-901

0

0

0

Preferred redemption allocation
Noncontrolling interest - common units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,359

0

0

0

-

-

-

-

Paid-in capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,316

20,034

-10,750

-2,542

1,359

0

0

0

-

-

-

-

Accumulated earnings (deficit)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-17,167

0

0

0

-

-

-

-

-

-

-

-

Consolidation of joint venture
Land

-

-

-

-

-

21,814

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,927

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Buildings and improvements

-

-

-

-

-

84,903

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,270

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

-1,787

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in and advances to unconsolidated joint venture

-

-

-

-

-

-100,898

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncontrolling interests - joint venture

-

-

-

-

-

4,032

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accured and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Cumulative distributions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Accumulated depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

778

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Land and building held for development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,419

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Paid-in capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,748

0

0

0

-

-

-

0

Preferred units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,748

0

0

0

-

-

-

0