SABRA HEALTH CARE REIT, INC. SBRA Cash Flow

Sabra health care reit, inc. (SBRA)

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
Cash flows from operating activities:
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
35,217	39,741	23,286	83,683	-77,692	-19,383	35,228	200,789	62,481	103,969	15,069	20,536	18,791	23,170	25,312	37,466	-15,743	25,084	18,034	16,826	19,439	22,236	17,198	14,796	-7,321	12,999	11,821	-662	9,557	3,959	5,226	5,923	4,405	7,164	2,343	2,087	1,248	7
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
44,168	44,032	43,092	49,476	44,949	48,078	48,468	46,828	48,005	51,592	25,933	17,220	19,137	17,199	17,102	16,405	17,766	18,126	16,306	14,497	14,150	14,465	9,762	9,755	9,350	8,555	8,258	8,222	8,246	7,907	7,496	7,557	7,303	7,364	6,850	6,291	6,086	3,134
Non-cash rental and related revenues
-365	-	-	-	-1,164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of above and below market lease intangibles, net
-	-	-	-	-	-	5,561	-684	-684	-	637	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest income
561	532	555	563	562	578	548	604	570	632	188	-25	-26	-33	-106	-221	-222	-283	-131	-99	-113	-108	-77	-70	-70	-50	-17	-7	-5	-6	-9	-9	0	-	-	-	-	-
Non-cash interest expense
2,200	2,254	2,523	2,723	2,600	2,552	2,551	2,516	2,481	2,512	2,044	1,653	1,591	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,273	1,273	1,221	-	1,300	1,268	1,261	1,233	940	927	945	885	806	823	766	768	720	631	566	491	512	500	495	230
Stock-based compensation expense
2,360	990	3,259	2,795	2,775	1,373	2,436	2,704	1,135	30	4,010	1,731	2,588	1,359	2,485	1,834	1,818	734	717	1,754	2,918	3,514	1,545	2,279	2,513	2,610	1,276	1,459	2,474	2,530	1,907	1,639	2,203	1,351	771	1,336	1,142	335
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-556	0	0	0	0	0	-158	-80	-1,338	-1	-350	-508	0	-	-	-	-	-	-	-	-	-
Amortization of debt premium/discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	27	27	27	-	26	26	25	23	0	0	-33	-136	-134	-202	-199	-196	-143	-4	-4	-4	-3	-4	-4	-2
Amortization of premium on senior unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-
Deferred taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	242
Straight-line rental income adjustments
-	-	-	-	-	-	10,652	12,189	11,563	-	8,682	4,971	4,607	5,274	5,593	5,524	5,593	6,048	6,438	6,178	5,656	6,747	4,641	4,247	4,186	3,873	3,536	3,617	3,683	2,036	1,167	721	969	1,372	592	128	0	0
Provision for loan losses and other reserves
667	-219	57	193	1,207	29,626	8,910	-674	1,213	9,659	5,149	535	1,770	2,257	540	223	2,523	6,237	2,489	2,972	1,144	600	0	2,994	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Write-off of straight-line rental income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	99	-	0	0	0	-	-	-	-	-	-	-	-	-
Change in fair value of contingent consideration
-	-	-	-	-	-	-	-	-	-126	-270	0	822	1,576	-100	50	0	1,850	-100	-100	-100	700	-100	660	300	400	300	-400	-500	0	0	0	0	-	-	-	-	-
Net loss on sales of real estate
-217	1,084	-19	2,755	-1,520	-14,247	14	142,903	-472	47,415	582	4,032	0	-2,919	1,451	-52	-4,602	1,954	-3,838	1,723	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of real estate
0	2,717	13,966	2,036	103,100	0	0	913	500	1,326	0	0	0	0	0	0	29,811	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from unconsolidated joint venture
-3,667	-1,161	-605	-3,647	-1,383	-1,805	-1,725	-2,347	446	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions of earnings from unconsolidated joint venture
4,040	3,703	3,278	3,847	3,037	2,416	2,884	3,610	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other assets, net
6,895	2,387	1,963	-4,635	9,924	2,722	1,901	472	1,658	11,246	-10,010	13,784	1,791	3,720	1,884	-9,165	5,900	7,792	3,743	8,086	3,206	5,464	1,358	-981	2,152	1,965	-69	1,050	513	198	-895	653	126	1,591	-337	172	-391	609
Accounts payable and accrued liabilities
-9,929	6,899	1,850	-5,354	-17,265	3,426	-23,177	7,757	249	-14,637	-55,247	3,782	-5,096	1,095	1,893	9,754	-5,430	9,387	-3,424	6,002	-4,988	-9,972	19,295	1,226	2,086	-4,983	8,536	-4,636	6,513	-5,890	9,125	-5,967	4,053	-2,165	7,375	-3,621	4,106	3,276
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	588	1,078	1,154	884	1,528	951	599	1,284	758	388	1,202	855	938	869	1,063	906	706	1,041	967	1,042	1,012	819	1,006	21
Net cash provided by operating activities
74,819	95,494	85,103	137,919	53,959	77,562	71,471	109,906	101,647	82,531	-1,024	22,695	31,587	42,112	39,322	69,768	24,726	41,986	27,808	26,606	24,701	14,098	42,318	27,714	1,207	12,888	26,225	1,383	21,603	8,350	23,815	7,623	16,464	10,196	16,581	5,470	12,458	6,592
Cash flows from investing activities:
Cash received in the Separation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	67,134
Acquisition of real estate
67,274	36,159	14,977	0	0	22,510	25,019	41,981	172,001	26,841	378,608	14,456	0	-	-	-	-	-	-	-	-	49,600	603,490	9,739	108,650	119,780	0	6,175	0	107,374	42,500	25,700	29,850	16,800	113,700	74,000	0	0
Origination of note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Origination and fundings of loans receivable
936	3,624	618	6,047	2,776	9,283	13,291	14,925	13,232	11,597	4,715	419	508	197	3,195	433	5,850	23,480	4,470	14,434	7,303	7,141	20,883	18,945	19,428	-	-	-	-	-	-	-	-	0	0	19	5,329	0
Payments to Acquire Investments
-	-	-	-	-	28	4,340	17	928	36	2,637	25	51	503	673	5,188	984	3,523	4,150	4,820	311	4,186	4,842	6,453	5	414	1,480	498	4,646	0	0	0	0	-	-	-	-	-
Additions to real estate
11,956	9,466	7,389	3,524	5,072	6,002	4,878	5,278	11,539	3,721	1,939	774	520	102	27	400	474	2,093	563	358	675	320	368	727	56	376	162	226	0	7	309	474	256	0	0	0	86	16
DIP loan fundings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,873	-	935	11,073	10,103	-	-	-	-	-
Repayments of loans receivable
1,011	4,606	3,659	4,851	5,251	3,507	9,395	10,082	28,805	23,720	7,163	1,429	118	1,015	21,054	185,019	8,874	2,518	1,233	0	2,052	810	287	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0
Repayments of preferred equity investments
-3,059	-1,407	-1,209	-376	-2,087	-379	-6,116	-141	-234	-516	-473	-2,766	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated joint venture
-	-	-	-	-	0	0	0	354,461	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from the sales of real estate
6,272	7,335	-1,021	315,879	6,857	91,696	12,663	271,458	6,743	138,520	5,624	6,099	0	12,557	9,993	75,058	398	11,489	13,952	1,800	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,208	0	0	0	0	-	-	-	-	-
Net cash (used in) provided by investing activities
-69,824	-35,701	-19,337	311,535	6,347	57,759	-19,354	219,480	-516,379	120,562	-296,781	-5,380	-961	-31,190	-82,467	254,056	1,964	-86,545	-82,021	-314,423	-6,237	-33,173	-629,296	-35,864	-128,139	-260,137	-2,791	-19,270	-15,311	-97,450	-43,744	-37,247	-40,209	-11,452	-113,700	-74,019	-5,415	67,118
Cash flows from financing activities:
Payment of Separation-related obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,081
Net repayments of revolving credit facility
101,000	-1,048,000	75,000	353,000	-4,000	-	-	-	30,000	-	-	-	-9,000	484,000	0	-198,000	-57,000	51,000	82,000	96,000	-42,000	-346,000	614,000	-162,000	26,500	-49,500	0	0	92,500	50,000	42,500	0	0	-	-	-	-	-
Proceeds from secured debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	11,600	46,103	0	0	0	0	-	-	-	-	-	-	-	-	-
Net borrowings from revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-
Proceeds from issuance of senior unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	149,250	0	0	350,000	0	0	200,000	0	-	-	-	-	-	-	-	-	-
Principal payments on senior unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	211,250	0	0	113,750	0	-	-	-	-	-	-	-	-	-
Proceeds from term loans
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	69,360	0	0	73,242	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from mortgage notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,000
Principal payments on secured debt
877	870	863	854	849	137,136	1,074	1,067	1,061	1,051	1,045	1,028	1,021	1,012	11,696	1,038	1,022	948	844	643	697	691	686	30,408	57,325	913	888	8,204	989	25,525	14,237	21,673	791	778	750	739	760	235
Payments of deferred financing costs
715	1,597	9,588	4,407	6	340	0	6	6	21	15,192	15	109	4	2	46	5,885	138	480	704	130	3,657	5,339	262	9,873	356	3,220	5,306	72	-245	3,610	979	2,456	182	225	-36	306	161
Distributions to noncontrolling interest
0	200	43	37	36	35	35	35	37	30	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common stock, net
1,930	247,298	90,455	213,898	-2,323	0	0	0	-499	47,774	322,250	0	-3,224	0	0	-15	-1,274	-214	-445	147,649	-7,587	280,322	9,926	220,547	-648	37,467	-99	-317	-2,534	-91	0	514	-370	-189	162,884	547	0	0
Issuance of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	-88	-638	138,983	0	0	0	0	-	-	-	-	-
Dividends paid on common stock
92,390	88,213	85,487	81,475	80,260	80,242	80,242	81,947	82,789	95,276	26,122	30,698	29,993	29,981	29,995	29,987	29,301	29,278	29,276	25,671	25,672	23,835	20,529	20,528	16,597	15,474	15,268	14,693	12,716	12,227	12,239	12,250	12,213	11,762	11,827	8,051	0	0
Net cash provided by (used in) financing activities
8,948	-50,447	-83,489	-424,770	-87,474	-214,796	-138,351	-161,805	-114,392	341,014	317,891	-16,741	-43,347	-4,997	-41,693	-229,086	-25,122	20,601	79,690	289,873	-76,086	55,389	597,372	18,949	126,910	154,916	-19,563	57,092	30,172	75,724	47,296	30,059	-15,830	-12,911	150,082	-8,207	-1,066	523
Net increase (decrease) in cash, cash equivalents and restricted cash
13,943	9,346	-17,723	24,684	-27,168	-79,475	-86,234	167,581	-529,124	544,107	20,086	574	-12,721	5,925	-84,838	94,738	1,568	-23,958	25,477	2,056	-57,622	36,314	10,394	10,799	-22	-92,333	3,871	39,205	36,464	-13,376	27,367	435	-39,575	-14,167	52,963	-76,756	5,977	74,233
Effect of foreign currency translation on cash, cash equivalents and restricted cash
-660	135	-89	151	149	-383	96	-97	-155	-20	628	109	21	-747	644	-3	131	-81	-46	-185	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Interest paid
21,526	23,624	25,599	32,436	42,195	26,149	43,726	25,170	42,623	20,850	19,892	10,817	18,127	10,225	18,428	11,122	19,459	10,470	17,964	8,680	16,761	7,763	11,407	8,079	7,219	16,604	2,098	16,775	3,064	15,497	2,439	12,537	2,140	11,533	2,548	12,029	2,447	760
Supplemental disclosure of non-cash investing activities:
Decrease in loans receivable and other investments due to acquisition of real estate
16,092	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-