iStar Inc. STAR Cash Flow

Istar inc. (STAR)

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
Cash flows from operating activities:
Net loss
-12,885	-36,022	3,626	373,691	-6,970	-105,028	-8,830	60,504	35,028	3,290	-3,717	196,007	-15,372	-8,460	58,155	59,786	-9,299	19,974	5,957	-19,775	-12,313	-1,955	35,491	-3,594	-14,177	-45,989	-18,593	-14,398	-32,253	-79,946	-64,307	-51,129	-46,048	-28,913	-54,664	-26,018	83,902
Adjustments to reconcile net loss to cash flows from operating activities:
Provision for (recovery of) loan losses
4,003	10,274	-3,805	110	-97	-1,300	200	17,182	855	-13,956	2,600	600	4,928	-235	10,543	700	1,506	5,623	7,500	19,151	4,293	5,151	-673	-2,792	-3,400	97	-9,834	5,020	10,206	20,875	16,834	26,531	17,500	15,950	9,232	10,349	10,881
Provision for losses on net investment in leases
1,292	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Recovery of loan losses
-	-	-	-	-	-	-	-	855	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of assets
1,708	8,466	0	1,102	3,851	135,931	989	6,088	4,100	17,087	596	10,283	4,413	2,731	8,741	3,012	0	-	-	-	-	12,893	15,462	3,300	2,979	7,172	6,785	550	0	6,233	6,541	7,496	17,807	8,246	9,912	2,764	1,464
Depreciation and amortization
14,486	14,673	14,200	13,718	15,668	16,842	19,979	10,768	11,110	11,736	11,846	13,285	13,067	12,145	13,002	14,474	14,708	15,443	15,787	15,516	18,501	18,414	17,722	18,822	18,613	17,657	19,123	17,396	17,354	19,581	16,787	17,180	17,238	16,786	15,077	16,132	15,933
Non-cash interest income from sales-type leases
1,570	-	1,524	704	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Land cost of sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Stock-based compensation expense
16,270	9,742	6,740	9,705	4,249	1,318	3,652	3,502	9,091	6,082	2,934	3,915	5,881	3,245	1,433	1,634	4,577	1,947	2,880	3,948	3,238	4,770	3,273	3,196	2,075	4,777	4,563	4,719	5,202	3,668	3,512	3,447	4,666	14,080	7,153	4,314	4,155
Amortization of discounts/premiums and deferred financing costs on debt obligations, net
3,320	3,274	3,523	3,434	3,616	3,707	3,815	3,957	3,943	4,064	3,178	3,103	3,512	3,856	4,053	4,300	4,601	4,607	4,470	4,250	4,025	3,954	3,907	4,362	4,668	5,225	5,287	5,403	5,000	5,575	8,727	8,981	8,698	8,856	8,938	9,811	4,740
Amortization of discounts/premiums and deferred interest on loans, net
8,404	9,206	10,611	12,672	9,853	12,030	10,651	9,420	9,067	10,796	13,744	16,793	14,652	67,016	3,598	3,815	3,422	2,918	3,711	-14,326	19,303	-32,586	14,824	17,602	12,527	11,027	9,498	10,005	6,853	2,477	8,993	17,669	11,773	10,167	10,324	18,365	23,338
Deferred interest on loans received
0	-19,904	3,657	0	5,850	-80,926	1,209	21,324	17,930	-	-	-	-1	-91,006	10,263	-16,745	12,114	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-255	9,165	8,279	5,044	0	0	24,851	2,406	-	-	-	-
Earnings from equity method investments
16,612	25,283	7,617	3,640	5,309	-426	-635	-7,278	3,332	-662	2,460	5,515	5,702	3,095	26,540	39,447	8,267	6,249	10,572	8,785	6,547	18,057	49,578	24,093	3,177	7,174	4,345	8,323	21,678	27,084	22,719	18,420	34,786	40,210	10,817	19,132	24,932
Distributions from operations of other investments
5,009	14,346	8,817	5,506	1,389	7,258	4,130	3,644	3,101	2,983	3,574	15,473	20,029	3,839	13,414	5,162	26,317	16,512	5,644	3,897	3,946	3,397	65,780	2,309	8,630	4,427	2,614	4,102	6,109	27,961	20,856	45,411	11,358	39,920	22,436	9,237	14,173
Deferred operating lease income
3,618	3,975	2,443	5,545	4,222	6,870	4,367	1,513	2,239	2,086	1,674	885	2,185	2,581	2,347	2,867	2,126	2,576	1,674	1,904	1,796	1,705	1,837	2,259	2,691	2,588	3,012	2,885	3,592	3,358	2,988	2,950	2,516	2,640	1,897	2,286	2,567
Income from sales of real estate
0	-	3,476	220,523	9,407	-	-	-	-	-	-	-	8,110	-	34,444	43,485	10,458	27,795	26,510	18,355	21,156	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from sales of real estate
-	-	-	-	-	-	-	-	17,048	63,782	19,313	844	8,618	16,909	34,444	43,485	10,458	27,795	26,510	18,355	21,156	-	28,318	18,056	16,983	-	-	-	-	-	-	-	-	-	-	-	-
Land development revenue in excess of cost of sales
3,117	5,026	6,816	-160	-1,750	8,745	196	-2,434	53,022	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt, net
-4,115	-	0	0	-468	-	-911	-2,164	-372	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,808
Income from sales of residential property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,697	-	15,584	13,266	6,733	-	-	-	-
Loss on early extinguishment of debt, net
-	-	-	-	-	-	-	-	-	-10,582	-617	-3,315	-210	-1	-36	-1,457	-125	-	-	-	-	-	-	-	-	-2,887	-3,498	-3,729	-9,541	-16,021	-3,220	-4,868	1,704	-882	-3,208	-4,772	106,604
Debt discount on repayments and repurchases of debt obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,877	492	-	-	-	-	-	-	-	-	1,783	1,824	337	20,057	54,183	3,203	11,078	6,248	-	-	-	-
Other operating activities, net
-9,710	815	1,011	11,997	-181	1,602	-1,506	2,416	865	2,141	4,131	6,917	3,689	4,694	1,464	1,052	1,599	2,397	952	77	2,463	-26,981	26,884	5,123	1,725	3,532	-724	2,572	1,537	2,887	2,661	2,200	1,679	4,825	-3,114	2,771	2,010
Net proceeds from sales of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46,439	67,100	25,740
Capital expenditures on net lease assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,236	2,737	2,165
Capital expenditures on REHI and OREO
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,949	8,970	6,996
Changes in restricted cash held in connection with investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,823	-1,560	-1,660	-1,515	-5,294	14,223	136	-	-	-	-	-	-	-	-	-457,090	-388	-30,249	492,854	-5,123	-26,820	3,939	48,046
Changes in assets and liabilities:
Changes in accrued interest and operating lease income receivable
-79	1,593	-314	-2,650	954	1,625	-1,044	-913	-617	888	486	-667	-2,131	2,081	-1,279	-2,021	-2,415	2,902	-483	-2,434	2,083	2,615	-583	-1,410	804	3,150	303	-4,790	-973	2,244	-303	-1,697	-1,581	954	-6,645	2,687	-1,789
Changes in deferred expenses and other assets, net
3,039	-2,420	4,500	2,256	1,512	-1,842	1,341	410	2,016	8,257	-594	-468	8,035	-8,538	15,871	-643	-1,034	-2,534	5,196	-64	-5,229	-9,505	7,946	3,376	-6,418	9,700	18,014	-17,122	12,420	-3,843	-3,310	-8,444	14,326	-18,860	-23,982	22,179	83
Changes in accounts payable, accrued expenses and other liabilities
-12,324	2,664	-16,162	10,712	-44,869	18,892	-19,744	17,661	-45,144	13,091	-9,733	28,928	-24,987	11,320	1,279	9,971	-23,023	12,625	-8,416	6,480	-27,801	14,492	16,078	19,389	-42,714	12,518	3,954	-6,402	-4,125	-9,641	17,643	-2,070	5,793	-27,504	15,358	6,001	11,855
Cash flows used in operating activities
-20,997	30,171	-36,292	7,029	-46,533	12,489	-15,481	25,430	-46,566	1,622	-11,631	147,238	-35,686	44,051	-14,712	15,841	-15,691	28,735	-23,190	-11,420	-52,354	8	81,757	-27,286	-64,821	-30,170	-43,759	-22,845	-83,691	-107,359	-17,518	-15,178	-51,877	-10,854	16,953	-34,052	-624
Cash flows from investing activities:
Originations and fundings of loans receivable, net
37,977	64,245	43,446	89,795	58,318	60,625	127,042	191,188	103,288	344,317	47,251	69,096	61,605	184,963	67,750	63,919	94,343	43,122	168,455	79,201	188,044	260,570	41,920	125,995	193,943	86,838	81,434	76,007	13,321	18,451	5,275	15,501	8,376	-	-	-	-
Capital expenditures on real estate assets
4,008	18,865	9,060	6,837	5,184	16,284	26,406	9,965	7,840	12,176	8,545	8,565	7,781	14,425	19,711	17,939	17,735	24,106	24,209	18,494	14,716	-35,047	42,065	33,544	27,902	-3,913	20,520	31,346	25,104	37,334	13,022	21,634	11,080	-	-	-	-
Capital expenditures on land and development assets
15,035	24,119	20,081	35,552	37,762	30,054	36,912	30,623	30,954	36,434	31,072	26,290	27,604	15,915	28,930	29,586	29,375	23,050	23,119	22,097	19,953	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of real estate, net investments in leases and land assets
0	0	110,631	20,193	109,663	16,064	0	3,390	0	-	-	-	-	-	-	-	-	-	-	-	-	1,702	552	0	2,412	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of and principal collections on loans receivable and other lending investments, net
18,346	39,729	150,116	72,040	157,915	118,084	162,202	438,171	114,525	123,940	124,652	195,962	171,066	261,064	41,766	128,803	73,211	34,986	163,479	39,997	34,992	57,577	292,919	59,104	102,928	77,445	237,537	105,345	193,288	248,692	147,920	185,803	146,242	138,364	271,765	584,923	213,351
Fundings under existing loan commitments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,648	21,715	18,057
Net proceeds from sales of loans receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,060	0	5,595	409	8,625	56,404	0	443	1,500	41,968	37,703	0	0	56,998	0	7,108	0	68,136	20,615
Proceeds from Sale of Real Estate
7,493	22,478	12,756	236,208	58,529	140,428	32,524	190,365	48,469	112,074	47,648	124,076	30,215	23,225	164,379	212,276	35,680	81,184	72,204	61,507	147,635	72,603	118,867	51,633	161,233	76,969	99,911	153,745	107,192	104,970	146,633	253,243	57,859	215,258	0	0	672
Net proceeds from sales of land and development assets
76,776	41,152	55,638	6,640	11,455	39,896	12,858	40,358	130,304	19,111	28,266	125,790	20,923	30,265	30,499	24,885	8,775	52,211	14,645	7,008	7,737	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from other investments
9,866	2,500	10,716	2,917	46,778	13,718	4,790	4,483	17,813	8,900	29,497	6,566	4,709	66,687	17,163	957	7,675	26,698	25,798	63,098	4,260	5,464	32,381	3,628	19,558	9,907	6,574	7,413	13,024	26,732	9,920	27,931	13,655	172,033	11,945	2,100	2,389
Contributions to and acquisition of interest in other investments
118,991	162,381	183,527	50,515	260,297	25,912	15,654	9,621	43,391	42,940	42,140	137,326	1,813	12,562	37,352	1,906	6,377	2,227	1,855	6,218	1,231	1,993	126,870	7,583	22,978	5,373	4,163	1,800	1,448	2,174	2,321	2,575	3,570	10,358	11,243	3,628	16,591
Other investing activities, net
-769	-6,912	5,648	5,669	16,685	-36,457	-6,376	1,848	-491	-585	4,671	-3,516	-1,801	10,732	8,588	13,393	-7,716	4,766	2,961	-7,501	-7,807	-2,289	2,409	-2,434	1,023	-1,449	-2,384	-765	-143	4,160	-1,183	441	-57	783	-283	-124	662
Cash flows provided by (used in) investing activities
-62,761	-156,839	-117,269	89,244	-213,232	199,644	12,736	440,350	126,129	-177,857	96,384	214,633	129,911	113,680	86,828	277,633	-13,113	99,323	87,061	13,698	-16,054	-147,912	240,384	31,860	35,461	-48,866	233,605	397,231	311,477	765,615	285,426	514,073	-298,067	307,437	302,176	681,394	170,250
Cash flows from financing activities:
Borrowings from debt obligations
306,180	652,000	771,480	0	63,500	354,372	17,242	332,746	0	385,011	1,049,006	0	854,637	19,600	50,000	371,401	275,000	0	175,000	124,000	250,000	0	26,000	1,321,755	2,067	206,892	5,414	573,559	658,700	-	-	-	-	-	-	-	-
Repayments and repurchases of debt obligations
113,634	1,092,987	4,848	4,926	379,797	254,348	278,237	62,557	349,658	1,188,270	101,192	278,779	353,458	377,685	74,069	708,429	282,755	2,335	182,993	234,727	12,328	25,539	36,700	1,348,072	60,863	305,825	159,176	672,539	846,562	-	-	-	-	-	-	-	-
Preferred dividends paid
5,874	8,123	8,124	8,124	8,124	8,124	8,124	8,124	8,124	9,954	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,830	12,780	10,580	10,580	10,580	10,580	10,580	10,580	10,580	10,580	10,580
Common dividends paid
7,797	6,295	6,199	6,438	6,127	6,124	6,103	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	193,510	0	0	0	0	-	-	-	-
Repurchase of stock
18,153	9,502	1,419	42,040	15,328	0	0	0	8,304	0	45,928	0	0	0	8,854	31,721	58,760	50,507	18,443	3	558	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for debt prepayment or extinguishment costs
3,316	-	-	-	0	-	-	-	-	8,926	1,545	2,790	847	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings under secured credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-14,285	864,750	-	0	0	2,913,250
Repayments under secured credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	211,295	303,228	88,896	-	181,953	242,428	956,934
Repayments under unsecured credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	244,046	-	0	331,600	175,000
Repayments under secured term loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	54,774	52,629	2,138	-	1,891	1,616	1,678,502
Repayments under unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	90,201	169,383	-	170,370	96,639	107,766
Repurchases and redemptions of unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,093	182,162	214,194	-	48,173	11,313	312,329
Payments for deferred financing costs
2,382	8,512	11,354	62	0	-805	1,355	4,669	252	4,447	15,729	746	11,497	1,050	927	8,003	0	-	-	-	-	-	-	-	-	-	-	-	-	17,473	941	-11,336	14,584	0	19	6,347	29,179
Payments for withholding taxes upon vesting of stock-based compensation
1,984	2,633	0	0	1,842	620	179	163	3,845	213	0	91	420	248	0	94	1,109	35	0	0	1,683	2,768	216	4,810	13,456	113	195	3,896	9,894	814	118	0	11,657	5,412	49	2	810
Contributions from noncontrolling interests
163	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests
3,724	4,073	3,315	4,355	3,255	14,743	2,826	43,174	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in restricted cash held in connection with debt obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200
Other financing activities, net
-	-	-	-	-	-1	7,686	-1	9	-12	62	0	-661	386	7,965	3,542	-10,686	2,602	4,832	-3,186	-2,585	5,589	-275	-1,021	-2,984	-5,944	-3,182	-2,257	-10,804	-1,224	4,091	-4,191	-952	1,548	-712	813	775
Cash flows used in financing activities
149,479	-499,971	738,141	-65,826	-350,973	-29,936	-271,887	214,058	-370,174	-1,080,123	871,714	-307,995	474,924	-377,262	-45,963	-363,290	-91,140	-73,765	-44,245	9,074	221,699	-32,823	-25,866	-57,659	-74,610	-142,848	-170,300	-126,874	-15,736	-686,571	-227,092	-381,911	119,977	-156,772	-491,060	-576,822	-356,065
Effect of exchange rate changes on cash
-25	27	-15	-8	8	-11	0	8	22	-47	12	6	1	-9	-6	-2	24	66	-20	432	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in cash, cash equivalents and restricted cash
65,696	-626,612	584,565	30,439	-610,730	182,186	-274,632	679,846	-290,589	-1,256,405	956,479	53,882	569,150	-219,540	26,147	-69,818	-119,920	54,359	19,606	11,784	153,291	-180,727	296,275	-53,085	-103,970	-221,884	19,546	247,512	212,050	-28,315	40,816	116,984	-229,967	139,811	-171,931	70,520	-186,439
Supplemental disclosure of non-cash investing and financing activity:
Fundings and repayments of loan receivables and loan participations, net
-2,110	23,561	-3,153	-4,892	-2,502	-164,308	172,013	-104,917	17,117	-94,919	-15,001	75,008	-22,602	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fundings of loan receivables and loan participations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,905	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Developer fee payable
-	-	-	-	-	-	-	-	28,831	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of real estate and land and development assets through deed-in-lieu
-	-	-	-	-	0	0	0	4,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions of land and development assets to equity method investments, net
0	0	0	0	4,073	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable for capital expenditures on land and development assets
-	-	-	-	-	-	-	-	-	-	-	-	-	487	-2,388	1,925	3,650	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable for capital expenditures on real estate assets
-	-	-	-	-	-9,169	-3,304	12,135	338	135	1,086	707	781	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from sales of real estate and land parcels
-	-	-	-	-	-	-	-	-	4,853	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued repurchase of stock
250	-	-	-2,864	3,841	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financing provided on sales of land and development assets, net
-	-	-	-	-	0	0	0	142,639	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-