Rexford industrial realty, inc. (REXR)
CashFlow / Quarterly
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'13
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

15,272

24,382

12,948

15,954

10,717

15,207

8,965

7,819

15,084

14,115

2,009

19,855

5,721

8,546

3,061

12,792

1,477

1,056

617

196

81

145

-679

81

1,429

-1,006

295

Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income from unconsolidated real estate entities

-

-

-

-

-

-

-

-

-

0

0

0

11

0

1,328

62

61

35

45

12

1

-25

2

-51

45

9

83

Provision for doubtful accounts

-

-

-

-

-

-

393

190

221

-

234

326

303

182

291

377

437

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

27,523

26,877

25,496

24,522

21,996

20,671

20,144

19,775

19,452

18,767

17,971

14,515

13,599

14,242

13,341

12,610

11,214

10,821

10,642

10,490

9,884

8,443

8,032

6,003

6,130

5,661

3,025

Depreciation and amortization included in discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7

55

37

Amortization of (below) above market lease intangibles, net

-2,402

-2,191

-2,065

-1,900

-1,751

-1,627

-1,622

-1,616

-1,116

-1,067

-885

-201

-117

-95

-39

60

-4

48

69

46

39

115

151

73

81

63

122

Amortization of loan origination fees

-

-

-

-

-

-

-

-

-

0

0

75

75

75

75

0

0

-

-

-

-

-

-

-

-

-

-

Accretion of discount on notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

38

71

69

68

66

65

64

50

33

Deferred interest income on notes receivable

-

-

-

-

-

-

-

-

-

0

0

-165

81

42

42

0

0

-

-

-

-

-

-

-

-

-

-

Gain on extinguishment of debt

-

-

-

-

-

-

-

-

-

47

0

0

-22

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate

-

-

-

-

-

5,631

0

1,608

9,983

10,336

0

16,569

2,668

5,814

0

11,563

0

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate included in discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,125

-

-

Amortization of debt issuance costs

343

347

347

345

344

345

344

331

312

294

290

288

275

266

263

264

221

194

200

209

209

206

205

144

129

123

93

Amortization of discount on notes payable

-16

2

1

2

1

1

1

2

1

-38

-37

-36

-58

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of premium on notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

59

59

-

33

33

92

-

81

35

11

-

-

Equity based compensation expense

3,570

2,800

2,668

2,709

2,579

2,281

2,243

2,660

2,963

1,328

1,330

1,394

1,346

956

992

953

934

494

443

467

348

251

340

279

172

10

382

Straight-line rent

1,672

2,200

2,080

1,241

2,067

1,492

1,343

1,673

1,969

1,478

1,307

996

956

1,095

1,395

922

1,095

1,409

1,039

612

365

594

227

395

184

510

285

Change in working capital components:
Rents and other receivables

-300

601

1,147

-477

-396

-902

1,515

764

-128

-208

630

49

475

300

-86

438

336

1,111

1,167

318

80

749

271

213

325

59

20

Deferred leasing costs

1,820

2,678

2,203

2,023

1,413

1,718

1,498

1,153

1,843

2,081

1,543

1,164

905

1,809

1,542

1,316

929

786

981

1,162

492

489

994

543

336

398

224

Other assets

-170

-1,242

-1,004

1,755

-533

-609

-497

2,436

-59

-810

-63

1,535

829

-81

-38

215

-167

145

404

-190

927

394

455

-1,765

1,985

63

752

Accounts payable, accrued expenses and other liabilities

5,437

-5,579

10,264

-7,048

3,936

-7,659

7,973

-2,192

2,529

-2,024

7,995

-4,192

2,424

-2,243

5,029

-3,079

1,960

-1,753

4,829

-2,778

1,508

-708

1,976

-876

835

760

616

Tenant security deposits

988

554

785

763

753

887

1,247

418

179

526

1,374

464

216

325

659

753

418

671

496

304

137

120

306

73

462

158

72

Prepaid rents

1,200

-355

-591

1,097

-160

142

8

-171

817

-407

15

-13

-1,346

643

-376

-70

214

-644

681

-1,204

405

293

-141

123

1,014

-660

-272

Net cash provided by operating activities

46,493

31,869

46,097

25,364

36,184

21,830

35,821

19,924

25,200

18,521

26,849

12,203

19,077

12,422

19,655

10,225

14,130

8,948

13,736

8,049

9,775

6,603

8,526

6,219

3,156

5,395

3,517

Payments to Acquire Commercial Real Estate

46,503

-

-

-

145,253

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of investments in real estate

-

-

-

-

-

130,660

33,779

277,010

52,753

132,253

291,661

223,348

17,099

59,344

80,146

203,842

24,289

67,629

57,499

58,766

46,705

135,190

74,185

141,948

32,339

64,825

13,924

Capital expenditures

15,607

12,581

12,344

12,532

9,712

16,673

14,807

11,610

14,861

13,131

12,299

10,790

6,093

8,241

8,382

9,026

6,279

6,250

6,358

5,086

4,487

5,183

4,555

2,627

1,594

1,167

617

Payments for deposits on real estate acquisitions

1,028

6,111

4,200

-6,260

10,475

1,175

-275

-2,925

2,050

1,400

-1,175

1,750

500

-400

0

0

400

-1,250

-150

1,150

-1,860

2,110

-1,450

-100

40

75

1,235

Contributions to unconsolidated real estate entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

105

-

-

Distributions from unconsolidated real estate entities

-

-

-

-

-

-

-

-

-

0

0

0

11

0

5,530

0

0

-

-

-

6

1,701

16

14

14

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-307

-72

27

27

27

9

Principal repayments of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

13,756

69

71

69

64

64

68

64

39

Proceeds from sale of real estate

-

-

-

-

-

9,788

0

10,281

24,896

31,582

0

57,869

6,537

18,070

0

20,435

0

-

-

-

-

0

1,620

0

13,790

-

-

Net cash used in investing activities

-63,138

-257,112

-241,248

-308,942

-165,440

-138,720

-48,311

-275,414

-44,768

-114,952

-302,785

-172,019

-17,144

-49,115

-88,698

-192,433

-30,968

-72,629

-49,951

-64,939

-49,255

-140,406

-75,518

-144,424

-20,233

-65,973

-15,746

CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock, net

79,431

131,828

49,852

212,800

244,420

131,283

51,132

316,734

57,371

27,032

185,514

114,614

3,740

9,084

-137

174,439

0

-8,174

7

0

184,000

-

-

-

-

-803

208,280

Offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

156

517

7,400

-

-

0

6

-

-

Proceeds from private placement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

47,016

Proceeds from notes payable

-

-

-

-

-

0

0

342,000

59,000

60,000

287,000

130,000

135,000

0

0

120,000

143,000

73,000

138,500

37,000

23,500

92,500

38,000

146,500

24,500

67,500

80,875

Repayment of notes payable

50

41

39

35,040

38

38

37

243,234

68,232

55,321

184,263

78,263

124,971

300

233

62,602

116,088

1,138

99,310

10,164

116,098

5,123

137,981

75

4,062

1,041

311,848

Debt issuance costs

2,225

0

143

0

0

0

0

1,298

450

2

156

170

1,940

1

0

972

952

0

732

0

64

0

3

1,865

8

111

1,702

Debt extinguishment costs

-

-

-

-

-

-

-

-

-

0

0

0

193

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Dividends paid to preferred stockholders

3,636

3,784

2,424

2,424

2,423

2,424

2,423

2,424

3,010

1,322

1,322

1,322

1,322

1,983

0

0

0

-

-

-

-

-

-

-

-

-

-

Distributions to Predecessor members related to formation transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

4,953

Repurchase of interests from unaccredited investors

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

1,040

Dividends paid to common stockholders

21,052

20,513

20,302

19,245

15,490

14,832

14,570

12,907

11,382

11,252

10,312

9,672

8,971

8,917

8,915

7,514

7,506

7,504

6,655

6,639

5,244

5,191

3,075

3,066

5,368

-

-

Distributions paid to common unitholders

572

521

521

529

448

381

382

388

345

332

331

339

311

301

300

300

300

279

261

276

279

318

361

361

632

-

-

Distributions paid to preferred unitholders

423

300

300

270

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common shares to satisfy employee tax withholding requirements

1,207

23

15

25

791

21

30

125

418

770

394

127

277

246

297

89

115

43

81

67

0

-

-

-

-

-

-

Net cash provided by financing activities

50,266

106,592

209,395

190,267

225,230

113,587

33,690

398,358

32,534

90,383

275,736

154,721

755

-3,045

77,150

222,962

18,039

63,799

31,310

19,337

78,415

81,868

118,261

141,133

14,424

65,176

16,628

Increase in cash, cash equivalents and restricted cash

33,621

-118,651

14,244

-93,311

95,974

-3,303

21,200

142,868

12,966

-6,048

-200

-5,095

2,688

-39,738

8,107

40,754

1,201

118

-4,905

-37,553

38,935

-51,935

51,269

2,928

-2,653

4,598

4,399

Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $882 and $629 for the three months ended March 31, 2020 and 2019, respectively)

8,685

4,909

6,701

4,944

6,940

5,314

7,118

4,696

6,663

4,318

6,032

3,125

4,948

2,818

4,721

2,546

3,858

1,466

1,484

575

2,622

1,477

1,805

1,333

1,178

-

-

Supplemental disclosure of noncash transactions:
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 on January 1, 2019

0

0

0

0

3,300

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease right-of-use assets obtained in exchange for lease liabilities subsequent to adoption of ASC 842

1,014

0

0

0

3,457

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in capital expenditure accrual

-

-

-

-

-

-

-

-

-

-

-704

878

1,485

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash or Part Noncash Acquisition, Debt Assumed

45,833

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

11,223

0

473

5,401

-

-

-

-

-

-

Accrual for capital expenditures

7,239

2,243

943

-2,260

5,481

-1,517

2,445

198

2,455

-

-

-

-

-

1,608

-346

1,624

-870

-12

464

1,028

-

-

-

-

-

-

Accrual of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-69

-158

268

-

-

-

-

-

-

Series 2 CPOP Units [Member]
Issuance of 4.0% cumulative redeemable convertible preferred units in connection with acquisition of real estate

40,787

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating Partnership Units
Issuance of 4.0% cumulative redeemable convertible preferred units in connection with acquisition of real estate

63,277

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-