Safehold inc. (SAFE)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Apr'17
Cash flows from operating activities:
Net income

17,396

11,168

5,481

5,942

11,137

4,362

2,069

1,762

3,743

-

-

-

1,846

Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization

2,348

2,348

2,345

2,343

2,343

2,307

2,290

2,275

2,270

-

-

-

-

Stock-based compensation expense

146

132

132

1,219

99

95

13

765

0

-

-

-

-

Deferred operating lease income

8,779

8,805

8,779

8,781

8,800

-

-

-

-

-

-

-

-

Non-cash interest income from sales-type leases

6,884

-

-

-

299

-

-

-

-

-

-

-

-

Deferred operating lease income

-

-

-

-

-

-

-

-

2,658

-

-

-

-

Non-cash interest income from sales-type leases

-

-

-

-

-

-

-

-

0

-

-

-

-

Amortization of real estate-related intangibles, net

667

666

627

608

608

809

692

548

469

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

0

-

-

-

-

-

-

Earnings from equity method investments

818

-

-

-

0

-

0

-

-

-

-

-

-

Distributions from operations of equity method investments

219

-

-

-

0

-

-

-

-

-

-

-

-

Amortization of premium, discount and deferred financing costs on debt obligations, net

527

603

570

566

518

488

414

363

347

-

-

-

-

Non-cash management fees

2,858

-

-

-

1,512

-

-

-

-

-

-

-

-

Other operating activities

532

521

437

386

242

19

-1,803

1,308

1,265

-

-

-

-

Changes in assets and liabilities:
Changes in deferred expenses and other assets, net

3,065

175

246

-4,004

3,282

-102

-42

540

767

-

-

-

-

Changes in accounts payable, accrued expenses and other liabilities

2,289

-1,744

-10,066

-2,316

-7,342

871

998

1,063

287

-

-

-

-

Cash flows provided by (used in) operating activities

7,436

2,583

-3,124

1,842

-3,264

2,712

2,260

3,600

4,956

-

-

-

-

Cash flows from investing activities:
Acquisitions of real estate

0

0

22,007

3,570

3,239

177,814

75,639

43,588

88,856

-

-

-

-

Origination/acquisition of net investment in sales-type leases and Ground Lease receivables

43,758

-

-

-

118,385

-

-

-

-

-

-

-

-

Fundings on Ground Lease receivables

18,869

-

-

-

0

-

-

-

-

-

-

-

-

Deposits on Ground Lease investments

-1,150

-

27,497

4,500

-1,300

-

3,900

4,290

853

-

-

-

-

Other investing activities

-121

-4,700

4,150

-393

250

-1,015

-232

-25

-120

-

-

-

-

Cash flows used in investing activities

-61,356

-909,200

-452,691

-38,310

-120,574

-167,756

-79,307

-47,853

-89,589

-

-

-

-

Cash flows from financing activities:
Proceeds from issuance of common stock

150,086

-

-

-

0

-

-

-

-

-

-

-

-

Proceeds from debt obligations

303,800

747,750

217,364

166,625

52,000

248,353

64,000

0

0

-

-

-

-

Repayments of debt obligations

130,000

54,000

71,000

57,000

169,500

74,500

0

0

0

-

-

-

-

Payments for deferred financing costs

4,836

15,909

928

1,160

471

1,233

737

194

125

-

-

-

-

Dividends paid to common shareholders

7,452

6,308

4,825

2,748

2,741

2,735

2,735

2,729

2,728

-

-

-

-

Payment of offering costs

1,527

4,749

4,268

0

761

401

407

0

0

-

-

-

-

Distributions to noncontrolling interests

11

12

11

1,883

1,039

20

6

21

0

-

-

-

-

Contributions from noncontrolling interests (refer to Note 11)

0

0

0

0

250,000

0

0

0

1,750

-

-

-

-

Other financing activities

-3,174

2,539

-450

1,638

-3,600

-

-

-

-

-

-

-

-

Cash flows provided by financing activities

306,886

916,611

399,124

105,472

123,888

169,464

60,290

-3,119

-1,103

-

-

-

-

Changes in cash, cash equivalents and restricted cash

252,966

-

-56,691

69,004

50

-

-16,757

-47,372

-85,736

-

-

-

-

Supplemental disclosure of cash flow information:
Supplemental disclosure of non-cash investing and financing activity:
Origination of sales-type leases

0

0

0

0

10,194

0

0

0

0

-

-

-

-

Assumption of debt obligations

0

0

0

0

10,194

-

0

0

0

-

-

-

-

Contribution from iStar Inc.

-

-

-

-

-

0

0

1,273

1,308

-

-

-

-

Dividends declared to common shareholders

7,965

1,156

1,488

2,082

2,752

6

0

7

2,728

-

-

-

-

Distribution declared to noncontrolling interest

0

-

-

-1,875

1,875

-

-

6

0

-

-

-

-

Accrued finance costs

282

97

51

286

224

52

72

-2

95

-

-

-

-

Dividends

-

-

-

-

-

-

-

-

2,728

-

-

-

-

Offering costs

197

-364

114

0

0

-

-

-

-

-

-

-

-

The Company
Net income (loss)

-

-

-

-

-

-

-

-

-

-1,344

-721

-1,604

-

Predecessor
Net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

1,846

Depreciation, Depletion and Amortization, Nonproduction

-

-

-

-

-

-

-

-

-

-

-

-

901

Non-cash stock-based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

0

Deferred ground and other lease income

-

-

-

-

-

-

-

-

-

-

-

-

1,271

Income from sales of real estate

-

-

-

-

-

-

-

-

-

-

-

-

508

Amortization of above and below Market Leases

-

-

-

-

-

-

-

-

-

-

-

-

118

Amortization of premium, discount and deferred financing costs on debt obligations, net

-

-

-

-

-

-

-

-

-

-

-

-

0

Management fees and non-cash expense reimbursements to the Manager

-

-

-

-

-

-

-

-

-

-

-

-

0

Other operating activities

-

-

-

-

-

-

-

-

-

-

-

-

24

Changes in ground and other lease income receivable, net

-

-

-

-

-

-

-

-

-

-

-

-

-2,088

Changes in deferred expenses and other assets, net

-

-

-

-

-

-

-

-

-

-

-

-

576

Changes in accounts payable, accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-13

Cash flows provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

2,609

Acquisitions of real estate

-

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from sales of real estate

-

-

-

-

-

-

-

-

-

-

-

-

508

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

1,042

Cash flows used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-534

Contributions from noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

0

Contribution from iStar Inc.

-

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from debt obligations

-

-

-

-

-

-

-

-

-

-

-

-

227,000

Repayments of debt obligations

-

-

-

-

-

-

-

-

-

-

-

-

0

Payments for deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

7,217

Dividends paid to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

0

Payment of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

779

Net transactions with iStar Inc.

-

-

-

-

-

-

-

-

-

-

-

-

220,813

Distributions to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

0

Cash flows provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-1,809

Changes in cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

266

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

168

Assumption of debt obligations

-

-

-

-

-

-

-

-

-

-

-

-

0

Contribution from iStar Inc.

-

-

-

-

-

-

-

-

-

-

-

-

0

Accrued finance costs

-

-

-

-

-

-

-

-

-

-

-

-

21

Dividends declared to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

0

Accrued offering costs

-

-

-

-

-

-

-

-

-

-

-

-

0