Spirit realty capital, inc. (SRC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating activities
Net (loss) income

175,266

132,052

77,148

97,446

93,212

-36,945

-1,616

-76,233

-63,863

-86,537

22,406

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization

175,465

197,913

256,019

262,276

260,633

247,966

167,599

112,100

111,870

113,648

-

Impairments

24,091

17,668

102,330

88,275

70,729

38,015

9,402

13,552

22,232

44,753

-

Depreciation

-

-

-

-

-

-

-

-

-

-

56,122

Amortization of intangible lease assets and below market lease intangibles, net

-

-

-

-

-

-

-

-

-

-

22,606

Amortization of deferred financing costs

6,289

9,306

9,896

9,070

7,937

5,899

13,188

2,819

4,198

4,728

5,969

Payments to terminate interest rate swap

-

-

-

-1,700

0

-

-

0

0

-

-

Derivative net settlements, amortization and terminations

-

-

-

1,811

-132

-114

-665

11,465

5,828

6,749

-

Amortization of interest rate hedge losses and derivative net settlements

-

-

-

-

-

-

-

-

5,828

6,749

-

Amortization of debt discounts

7,028

13,560

13,572

6,217

2,322

-849

4,653

10,900

14,605

10,112

-

Amortization of deferred losses on interest rate swaps

858

-

-

-

-

-

-

-

-

-

-

Loss on termination of interest rate swaps

12,461

-

-

-

-

-

-

-

-

-

-

Payment for termination of interest rate swaps

24,843

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

14,277

15,114

16,560

9,570

13,321

11,346

8,769

5,931

0

-

-

Loss (gain) on debt extinguishment

-14,330

26,729

-1,645

-

-

-

-

-

-

-

-

Gain on dispositions of real estate and other assets

58,850

14,355

65,106

52,365

69,011

10,546

36,334

-3,529

-2,736

-12,956

-

Non-cash revenue

19,943

18,878

28,439

26,333

20,930

16,732

18,755

3,283

2,333

2,336

-

Gain on debt extinguishment

-14,330

26,729

-1,645

233

-3,162

-64,750

-1,377

-32,522

0

-

-

Gain on debt repurchases

-

-

-

-

-

-

-

-

-

9,455

-

Bad debt expense and other

-189

-2,313

-5,913

594

-151

1,355

53

216

-140

-

-

Changes in operating assets and liabilities:
Deferred costs and other assets, net

-2,953

1,396

-2,866

6,561

604

25,466

7,255

-418

42

2,683

-

Accrued restructuring charges

-

-

-

-5,535

5,926

0

0

-

-

-

-

Amortization of premiums on mortgage notes receivable

-

-

-

-

-

-

-

-

-

-

-671

Accretion of discount on marketable securities

-

-

-

-

-

-

-

-

-

-

2,216

Amortization of fair value adjustments of mortgage notes payable assumed

-

-

-

-

-

-

-

-

-

-

1,421

Bad debt (recovery) expense

-

-

-

-

-

-

-

-

-

-

1,993

Impairment of real estate assets

-

-

-

-

-

-

-

-

-

-

13,500

Stock compensation expense

-

-

-

-

-

-

-

-

-

-

13

Equity in income of unconsolidated joint venture

-

-

-

-

-

-

-

-

-

-

612

Return on investment from unconsolidated joint venture

-

-

-

-

-

-

-

-

-

-

-2,957

Property condemnation and easement (gain) loss

-

-

-

-

-

-

-

-

-

-

-139

Rents and tenant receivables

-

-

-

-

-

-

-

-

-

-

13,325

Prepaid expenses and other assets

-

-

-

-

-

-

-

-

-

-

-771

Accounts payable, accrued expenses and other liabilities

9,482

9,797

1,578

6,308

12,772

2,178

-2,206

-2,163

-664

-2,538

1,687

Due to affiliates, deferred rental income and other liabilities

-

-

-

-

-

-

-

-

-

-

-2,770

Net cash provided by operating activities

339,053

336,365

393,982

387,628

379,488

218,571

138,104

111,773

94,427

89,397

116,872

Investing activities
Acquisitions of real estate

1,295,545

257,712

279,934

-

-

-

-

-

-

-

-

Capitalized real estate expenditures

47,652

52,390

46,100

-

-

-

-

-

-

-

-

Acquisitions of real estate

-

-

-

655,835

875,983

958,038

408,436

163,779

36,643

-

19,122

Capitalized real estate expenditures

-

-

-

-

10,269

5,087

13,169

-

-

-

-

Capitalized real estate expenditures

-

-

-

27,078

-

-

-

-

-

-

-

Investments in loans receivable

-

35,450

4,995

5,073

4,020

0

0

3,743

0

3,682

-

Proceeds from redemption of preferred equity investment

150,000

-

-

-

-

-

-

-

-

-

-

Collections from investment in Master Trust 2014

33,535

-

-

-

-

-

-

-

-

-

-

Collections of principal on loans receivable and real estate assets under direct financing leases

11,037

30,427

12,769

8,410

6,822

6,085

15,260

17,343

4,828

7,116

-

Proceeds from dispositions of real estate and other assets, net

253,626

94,663

472,496

524,776

496,646

110,185

246,783

45,998

15,215

65,401

-

Net cash used in investing activities

-894,999

-220,462

154,236

-154,800

-386,804

-878,030

-159,593

-109,314

-23,684

70,193

-45,497

Financing activities
Borrowings under revolving credit facilities

1,047,200

826,000

940,200

1,080,000

798,000

875,722

386,705

0

0

-

-

Repayments under revolving credit facilities

1,077,000

791,700

914,200

994,000

813,181

895,661

351,585

0

0

-

-

Repayment of line of credit previously belonging to Cole II

-

-

-

-

-

-

324,111

0

0

-

-

Borrowings under mortgages and notes payable

-

104,247

618,603

0

0

518,846

620,290

44,210

11,400

-

-

Repayments under mortgages and notes payable

242,049

170,519

221,310

863,836

516,054

610,973

127,572

-

-

-

-

Borrowings under Convertible Notes

-

-

-

-

-

747,500

0

-

-

-

-

Borrowings under term loans

-

-

-

796,000

325,000

0

0

-

-

-

-

Repayments under 2015 Term Loan

-

-

-

701,000

0

0

-

-

-

-

-

Borrowings under term loans

820,000

420,000

-

298,134

0

0

-

-

-

-

-

Repayments under term loans

1,240,000

-

420,000

-

-

-

-

-

-

-

-

Repayments under Convertible Notes

402,500

-

-

-

-

-

-

-

-

-

-

Borrowings under Senior Unsecured Notes

1,198,264

0

0

-

-

-

-

-

-

-

-

Debt extinguishment costs

15,277

2,968

3,305

28,531

8,112

59,576

0

0

-

-

-

Distributions to investors

-

-

-

-

-

-

-

-

-

-

63,966

Proceeds from notes payable and line of credit

-

-

-

-

-

-

-

-

-

-

105,242

Repayment of notes payable and line of credit

-

-

-

-

-

-

-

-

-

-

137,325

Refund of loan deposits

-

-

-

-

-

-

-

-

-

-

795

Payment of loan deposits

-

-

-

-

-

-

-

-

-

-

770

Escrowed investor proceeds liability

-

-

-

-

-

-

-

-

-

-

18

Deferred financing costs

22,105

1,981

8,255

4,352

6,150

30,772

-

-

-

-

4,581

Cash, cash equivalents and restricted cash held by SMTA at Spin-Off

-

-73,081

-

-

-

-

-

-

-

-

-

Cash, cash equivalents and restricted cash held by SMTA at Spin-Off

-

-

-

0

-

-

-

-

-

-

-

Sale of SubREIT preferred shares

-

5,000

-

0

-

-

-

-

-

-

-

Cash acquired in connection with merger

-

-

-

-

-

-

7,347

0

0

-

-

Transfers of net sales proceeds from (to) restricted accounts pursuant to 1031 Exchanges

-

-

-

-

-

-20,784

20,784

5,133

7,084

-1,358

-

Transfers of net sales proceeds (to) from Master Trust Release

-

-

-

-

-

51,959

-13,406

-

-

-

-

Investment in marketable securities

-

-

-

-

-

-

-

-

-

-

10,495

Investment in unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

16,759

Principal repayments from mortgage notes receivable and real estate assets under direct financing leases

-

-

-

-

-

-

-

-

-

-

1,823

Proceeds from condemnation and easement of assets

-

-

-

-

-

-

-

-

-

-

27

Cash, cash equivalents and restricted cash held by SMTA at Spin-Off

-

-

-

-

-

-

-

-

-

-

971

Borrowings under Convertible Notes

-

-

-

-

-

-

-

0

-

-

-

Repayments under mortgages and notes payable

-

-

-

-

-

-

-

46,929

38,565

92,330

-

Repayments/repurchases of term note payable

-

-

-

-

-

-

-

-398,983

-70,000

-

-

Repurchases of Term Note payable

-

-

-

-

-

-

-

-

-

43,553

-

Deferred financing costs

-

-

-

-

-

-

34,399

3,436

6,999

1,217

-

Proceeds from issuance of common stock, net of offering costs

677,428

2,972

-

446,613

347,211

-

-

-

-

-

46

Proceeds from issuance of preferred stock, net of offering costs

-

-16

166,193

0

0

-

-

-

-

-

-

Repurchase of shares of common stock, including tax withholdings related to net stock settlements

2,541

170,568

286,631

753

4,272

2,920

1,942

0

0

-

48,303

Dividends paid

-

-

-

-

-

255,771

-

-

-

-

-

Redemption of preferred stock

-

-

-

-

-

-

-

139

0

-

-

Common stock dividends paid

226,522

290,223

339,174

323,640

292,262

-

136,091

8

3,885

15

-

Proceeds from issuance of common stock, net of offering costs

-

-

-

-

-

434,984

-518

457,115

0

-

-

Offering costs paid on equity component of Convertible Notes

-

-

-

-

-

1,609

0

0

-

-

-

Stock issuance costs

-

-

-

-

-

-

-

-

0

-

563

Purchase of treasury stock

-

-

-

-

-

-

-

-

1,509

-

-

Consent fees paid to lenders

-

-

-

-

-

-

5,449

10,672

0

-

-

Proceeds from exercise of stock options/ partnership units

-

-

-

-

46

183

0

0

-

-

-

Preferred stock dividends paid

10,350

10,352

2,530

0

0

-

-

-

-

-

-

Transfers (from) to reserve/escrow deposits with lenders, net

-

-

-

-

-

10,477

10,819

19,585

-10

-794

-

Net cash provided by financing activities

504,548

-153,189

-470,409

-295,365

-169,774

769,052

14,509

21,573

-109,548

-136,321

-149,443

Net increase (decrease) in cash, cash equivalents and restricted cash

-51,398

-37,286

77,809

-62,537

-177,090

109,593

-6,980

24,032

-38,805

23,269

-78,068

Investment in preferred shares

-

150,000

-

0

-

-

-

-

-

-

-

Non-cash distribution to SMTA, net

-

142,924

-

0

-

-

-

-

-

-

-

Financing provided in connection with disposition of assets

-

-

-

0

-

-

-

-

-

-

-

Net real estate and other collateral assets sold or surrendered to lender

-

-

-

30,381

-

-

-

-

-

-

-

Derivative changes in fair value

18,593

7,159

-

0

-

-

-

-

-

-

-

Supplemental Cash Flow Disclosures:
Cash paid for interest

73,530

118,329

163,623

182,105

-

-

-

-

-

-

-

Cash paid for income taxes

11,826

1,099

911

914

-

-

-

-

-

-

-

Supplemental Disclosures of Non-Cash Activities:
Relief of debt through sale or foreclosure of real estate properties

10,368

56,119

39,141

7,208

-

-

-

-

-

-

-

Net real estate and other collateral assets sold or surrendered to lender

654

28,271

38,547

-

-

-

-

-

-

-

-

Reduction of debt in exchange for collateral assets

-

-

-

47,025

-

-

-

-

-

-

-

Real estate acquired in exchange for loans receivable

-

-

-

26,609

-

-

-

-

-

-

-

Reclass of residual value on expired deferred financing lease to operating asset

-

-

-

0

-

-

-

-

-

-

-

Accrued interest capitalized to principal

251

1,967

3,839

4,332

-

-

-

-

-

-

-

Accrued market-based award dividend rights

1,017

1,011

817

-

-

-

-

-

-

-

-

Accrued capitalized costs

2,230

695

-

-

-

-

-

-

-

-

-

Financing provided in connection with disposition of assets

-

2,888

24,015

-

-

-

-

-

-

-

-

Accrued market-based award dividend rights

-

-

-

489

-

-

-

-

-

-

-

Accrued capitalized costs

2,230

695

-

0

-

-

-

-

-

-

-

Right-of-use lease assets

6,143

-

-

-

-

-

-

-

-

-

-

Lease liabilities

6,143

-

-

-

-

-

-

-

-

-

-

Reclass of residual value from direct financing lease to operating lease

5,841

4,455

11,088

-

-

-

-

-

-

-

-

Lease liabilities

6,143

-

-

-

-

-

-

-

-

-

-

Spirit Realty, L.P.
Net (loss) income

175,266

132,052

77,148

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-

-

-

97,446

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

262,276

-

-

-

-

-

-

-

Asset Impairment Charges

-

-

-

88,275

-

-

-

-

-

-

-

Depreciation and amortization

175,465

197,913

256,019

-

-

-

-

-

-

-

-

Impairments

24,091

17,668

102,330

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

6,289

9,306

9,896

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

-

-

-

9,070

-

-

-

-

-

-

-

Amortization of debt discounts

7,028

13,560

13,572

-

-

-

-

-

-

-

-

Payments to terminate interest rate swap

-

-

-

1,724

-

-

-

-

-

-

-

Derivative net settlements, amortization and terminations

-

-

-

1,811

-

-

-

-

-

-

-

Amortization of debt discounts

-

-

-

6,217

-

-

-

-

-

-

-

Amortization of deferred losses on interest rate swaps

858

-

-

-

-

-

-

-

-

-

-

Loss on termination of interest rate swaps

12,461

-

-

-

-

-

-

-

-

-

-

Payment for termination of interest rate swaps

24,843

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

14,277

15,114

16,560

-

-

-

-

-

-

-

-

Stock-based compensation expense

-

-

-

9,570

-

-

-

-

-

-

-

Gain on debt extinguishment

-

-

-

233

-

-

-

-

-

-

-

Loss (gain) on debt extinguishment

-14,330

26,729

-1,645

-

-

-

-

-

-

-

-

Gain on dispositions of real estate and other assets

58,850

14,355

65,106

-

-

-

-

-

-

-

-

Non-cash revenue

19,943

18,878

28,439

-

-

-

-

-

-

-

-

Bad debt expense and other

-189

-2,313

-5,913

-

-

-

-

-

-

-

-

(Gain) loss on dispositions of real estate and other assets

-

-

-

52,365

-

-

-

-

-

-

-

Non-cash revenue

-

-

-

26,333

-

-

-

-

-

-

-

Bad debt expense and other

-

-

-

594

-

-

-

-

-

-

-

Deferred costs and other assets, net

-2,953

1,396

-2,866

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

9,482

9,797

1,578

-

-

-

-

-

-

-

-

Deferred costs and other assets, net

-

-

-

6,561

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other liabilities

-

-

-

6,308

-

-

-

-

-

-

-

Accrued restructuring charges

-

-

-

-5,535

-

-

-

-

-

-

-

Net cash provided by operating activities

-

-

-

387,628

-

-

-

-

-

-

-

Net cash provided by operating activities

339,053

336,365

393,982

-

-

-

-

-

-

-

-

Acquisitions of real estate

1,295,545

257,712

279,934

-

-

-

-

-

-

-

-

Capitalized real estate expenditures

47,652

52,390

46,100

-

-

-

-

-

-

-

-

Acquisitions of real estate

-

-

-

655,835

-

-

-

-

-

-

-

Capitalized real estate expenditures

-

-

-

27,078

-

-

-

-

-

-

-

Investments in loans receivable

-

35,450

4,995

-

-

-

-

-

-

-

-

Investments in loans receivable

-

-

-

5,073

-

-

-

-

-

-

-

Proceeds from redemption of preferred equity investment

150,000

-

-

-

-

-

-

-

-

-

-

Collections from investment in Master Trust 2014

33,535

-

-

-

-

-

-

-

-

-

-

Collections of principal on loans receivable and real estate assets under direct financing leases

11,037

30,427

12,769

-

-

-

-

-

-

-

-

Collections of principal on loans receivable and real estate assets under direct financing leases

-

-

-

8,410

-

-

-

-

-

-

-

Proceeds from dispositions of real estate and other assets, net

253,626

94,663

472,496

-

-

-

-

-

-

-

-

Net cash used in investing activities

-894,999

-220,462

154,236

-

-

-

-

-

-

-

-

Proceeds from dispositions of real estate and other assets

-

-

-

524,776

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-154,800

-

-

-

-

-

-

-

Borrowings under revolving credit facilities

1,047,200

826,000

940,200

-

-

-

-

-

-

-

-

Borrowings under revolving credit facilities

-

-

-

1,080,000

-

-

-

-

-

-

-

Repayments under revolving credit facilities

1,077,000

791,700

914,200

-

-

-

-

-

-

-

-

Repayments under revolving credit facilities

-

-

-

994,000

-

-

-

-

-

-

-

Borrowings under mortgages and notes payable

-

104,247

618,603

-

-

-

-

-

-

-

-

Repayments under mortgages and notes payable

242,049

170,519

221,310

-

-

-

-

-

-

-

-

Repayments under mortgages and notes payable

-

-

-

863,836

-

-

-

-

-

-

-

Borrowings under term loans

820,000

420,000

-

-

-

-

-

-

-

-

-

Borrowings under term loans

-

-

-

796,000

-

-

-

-

-

-

-

Repayments under 2015 Term Loan

-

-

-

701,000

-

-

-

-

-

-

-

Borrowings under Senior Unsecured Notes

-

-

-

298,134

-

-

-

-

-

-

-

Repayments under term loans

1,240,000

-

420,000

-

-

-

-

-

-

-

-

Repayments under Convertible Notes

402,500

-

-

-

-

-

-

-

-

-

-

Borrowings under Senior Unsecured Notes

1,198,264

-

-

-

-

-

-

-

-

-

-

Borrowings under mortgages and notes payable

-

-

-

0

-

-

-

-

-

-

-

Debt extinguishment costs

15,277

2,968

3,305

-

-

-

-

-

-

-

-

Debt extinguishment costs

-

-

-

28,531

-

-

-

-

-

-

-

Deferred financing costs

22,105

1,981

8,255

-

-

-

-

-

-

-

-

Deferred financing costs

-

-

-

4,352

-

-

-

-

-

-

-

Cash, cash equivalents and restricted cash held by SMTA at Spin-Off

-

-73,081

-

-

-

-

-

-

-

-

-

Cash, cash equivalents and restricted cash held by SMTA at Spin-Off

-

-

-

0

-

-

-

-

-

-

-

Sale of SubREIT preferred shares

-

5,000

-

-

-

-

-

-

-

-

-

Sale of SubREIT preferred shares

-

-

-

0

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net of offering costs

677,428

2,972

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net of offering costs

-

-

-

446,613

-

-

-

-

-

-

-

Proceeds from issuance of preferred stock, net of offering costs

-

-16

166,193

-

-

-

-

-

-

-

-

Proceeds from issuance of preferred stock, net of offering costs

-

-

-

0

-

-

-

-

-

-

-

Repurchase of shares of common stock, including tax withholdings related to net stock settlements

2,541

170,568

286,631

-

-

-

-

-

-

-

-

Repurchase of shares of common stock, including tax withholdings related to net stock settlements

-

-

-

753

-

-

-

-

-

-

-

Common stock dividends paid

226,522

290,223

339,174

-

-

-

-

-

-

-

-

Common stock dividends paid

-

-

-

323,640

-

-

-

-

-

-

-

Preferred stock dividends paid

10,350

10,352

2,530

-

-

-

-

-

-

-

-

Preferred stock dividends paid

-

-

-

0

-

-

-

-

-

-

-

Net cash provided by financing activities

504,548

-153,189

-470,409

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-295,365

-

-

-

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

-51,398

-37,286

77,809

-

-

-

-

-

-

-

-

Net (decrease) increase in cash, cash equivalents and restricted cash

-

-

-

-62,537

-

-

-

-

-

-

-

Investment in preferred shares

-

150,000

-

-

-

-

-

-

-

-

-

Investment in preferred shares

-

-

-

0

-

-

-

-

-

-

-

Non-cash distribution to SMTA, net

-

142,924

-

-

-

-

-

-

-

-

-

Non-cash distribution to SMTA, net

-

-

-

0

-

-

-

-

-

-

-

Derivative changes in fair value

18,593

7,159

-

-

-

-

-

-

-

-

-

Financing provided in connection with disposition of assets

-

-

-

0

-

-

-

-

-

-

-

Net real estate and other collateral assets sold or surrendered to lender

-

-

-

30,381

-

-

-

-

-

-

-

Derivative changes in fair value

-

-

-

0

-

-

-

-

-

-

-

Cash paid for interest

73,530

118,329

163,623

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

182,105

-

-

-

-

-

-

-

Cash paid for income taxes

11,826

1,099

911

-

-

-

-

-

-

-

-

Cash paid for income taxes

-

-

-

914

-

-

-

-

-

-

-

Relief of debt through sale or foreclosure of real estate properties

10,368

56,119

39,141

-

-

-

-

-

-

-

-

Relief of debt through sale or foreclosure of real estate properties

-

-

-

7,208

-

-

-

-

-

-

-

Net real estate and other collateral assets sold or surrendered to lender

654

28,271

38,547

-

-

-

-

-

-

-

-

Accrued interest capitalized to principal

251

1,967

3,839

-

-

-

-

-

-

-

-

Reduction of debt in exchange for collateral assets

-

-

-

47,025

-

-

-

-

-

-

-

Real estate acquired in exchange for loans receivable

-

-

-

26,609

-

-

-

-

-

-

-

Reclass of residual value on expired deferred financing lease to operating asset

-

-

-

0

-

-

-

-

-

-

-

Accrued interest capitalized to principal

-

-

-

4,332

-

-

-

-

-

-

-

Accrued market-based award dividend rights

1,017

1,011

817

-

-

-

-

-

-

-

-

Accrued capitalized costs

2,230

695

-

-

-

-

-

-

-

-

-

Financing provided in connection with disposition of assets

-

2,888

24,015

-

-

-

-

-

-

-

-

Right-of-use lease assets

6,143

-

-

-

-

-

-

-

-

-

-

Accrued market-based award dividend rights

-

-

-

489

-

-

-

-

-

-

-

Accrued capitalized costs

-

-

-

0

-

-

-

-

-

-

-

Lease liabilities

6,143

-

-

-

-

-

-

-

-

-

-

Reclass of residual value from direct financing lease to operating lease

5,841

4,455

11,088

-

-

-

-

-

-

-

-