iStar Inc. STAR Cash Flow

Istar inc. (STAR)

CashFlow / TTM

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
328,410	334,325	265,319	252,863	-60,324	-18,326	89,992	95,105	230,608	180,208	168,458	230,330	94,109	100,182	128,616	76,418	-3,143	-6,157	-28,086	1,448	17,629	15,765	-28,269	-82,353	-93,157	-111,233	-145,190	-190,904	-227,635	-241,430	-190,397	-180,754	-155,643	-25,693	0	0	0
Adjustments to reconcile net loss to cash flows from operating activities:
Provision for (recovery of) loan losses
10,582	6,482	-5,092	-1,087	15,985	16,937	4,281	6,681	-9,901	-5,828	7,893	15,836	15,936	12,514	18,372	15,329	33,780	36,567	36,095	27,922	5,979	-1,714	-6,768	-15,929	-8,117	5,489	26,267	52,935	74,446	81,740	76,815	69,213	53,031	46,412	0	0	0
Provision for losses on net investment in leases
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Recovery of loan losses
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of assets
11,276	13,419	140,884	141,873	146,859	147,108	28,264	27,871	32,066	32,379	18,023	26,168	18,897	14,484	0	0	0	-	-	-	-	34,634	28,913	20,236	17,486	14,507	13,568	13,324	20,270	38,077	40,090	43,461	38,729	22,386	0	0	0
Depreciation and amortization
57,077	58,259	60,428	66,207	63,257	58,699	53,593	45,460	47,977	49,934	50,343	51,499	52,688	54,329	57,627	60,412	61,454	65,247	68,218	70,153	73,459	73,571	72,814	74,215	72,789	71,530	73,454	71,118	70,902	70,786	67,991	66,281	65,233	63,928	0	0	0
Non-cash interest income from sales-type leases
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Land cost of sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Stock-based compensation expense
42,457	30,436	22,012	18,924	12,721	17,563	22,327	21,609	22,022	18,812	15,975	14,474	12,193	10,889	9,591	11,038	13,352	12,013	14,836	15,229	14,477	13,314	13,321	14,611	16,134	19,261	18,152	17,101	15,829	15,293	25,705	29,346	30,213	29,702	0	0	0
Amortization of discounts/premiums and deferred financing costs on debt obligations, net
13,551	13,847	14,280	14,572	15,095	15,422	15,779	15,142	14,288	13,857	13,649	14,524	15,721	16,810	17,561	17,978	17,928	17,352	16,699	16,136	16,248	16,891	18,162	19,542	20,583	20,915	21,265	24,705	28,283	31,981	35,262	35,473	36,303	32,345	0	0	0
Amortization of discounts/premiums and deferred interest on loans, net
40,893	42,342	45,166	45,206	41,954	41,168	39,934	43,027	50,400	55,985	112,205	102,059	89,081	77,851	13,753	13,866	-4,275	11,606	-23,898	-12,785	19,143	12,367	55,980	50,654	43,057	37,383	28,833	28,328	35,992	40,912	48,602	49,933	50,629	62,194	0	0	0
Deferred interest on loans received
-16,247	-10,397	-71,419	-73,867	-52,543	-40,463	0	0	0	-	-	-	-97,489	-85,374	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,233	22,488	13,323	29,895	27,257	0	0	0	-	-	-	-
Earnings from equity method investments
53,152	41,849	16,140	7,888	-3,030	-5,007	-5,243	-2,148	10,645	13,015	16,772	40,852	74,784	77,349	80,503	64,535	33,873	32,153	43,961	82,967	98,275	94,905	84,022	38,789	23,019	41,520	61,430	79,804	89,901	103,009	116,135	104,233	104,945	95,091	0	0	0
Distributions from operations of other investments
33,678	30,058	22,970	18,283	16,421	18,133	13,858	13,302	25,131	42,059	42,915	52,755	42,444	48,732	61,405	53,635	52,370	29,999	16,884	77,020	75,432	80,116	81,146	17,980	19,773	17,252	40,786	59,028	100,337	105,586	117,545	119,125	82,951	85,766	0	0	0
Deferred operating lease income
15,581	16,185	19,080	21,004	16,972	14,989	10,205	7,512	6,884	6,830	7,325	7,998	9,980	9,921	9,916	9,243	8,280	7,950	7,079	7,242	7,597	8,492	9,375	10,550	11,176	12,077	12,847	12,823	12,888	11,812	11,094	10,003	9,339	9,390	0	0	0
Income from sales of real estate
0	-	0	0	0	-	-	-	-	-	-	-	102,948	-	116,182	108,248	83,118	93,816	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from sales of real estate
-	-	-	-	-	-	-	-	100,987	92,557	45,684	60,815	103,456	105,296	116,182	108,248	83,118	93,816	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Land development revenue in excess of cost of sales
14,799	9,932	13,651	7,031	4,757	59,529	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt, net
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Income from sales of residential property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-
Loss on early extinguishment of debt, net
-	-	-	-	-	-	-	-	-	-14,724	-4,143	-3,562	-1,704	-1,619	0	0	0	-	-	-	-	-	-	-	-	-19,655	-32,789	-32,511	-33,650	-22,405	-7,266	-7,254	-7,158	97,742	0	0	0
Debt discount on repayments and repurchases of debt obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	24,001	76,401	77,780	88,521	74,712	0	0	0	-	-	-	-
Other operating activities, net
4,113	13,642	14,429	11,912	2,331	3,377	3,916	9,553	14,054	16,878	19,431	16,764	10,899	8,809	6,512	6,000	5,025	5,889	-23,489	2,443	7,489	6,751	37,264	9,656	7,105	6,917	6,272	9,657	9,285	9,427	11,365	5,590	6,161	6,492	0	0	0
Net proceeds from sales of other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Capital expenditures on net lease assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Capital expenditures on REHI and OREO
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Changes in restricted cash held in connection with investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-912	-10,029	5,754	7,550	0	0	0	-	-	-	-	-	-	-	-	5,127	457,094	430,662	464,850	20,042	0	0	0
Changes in assets and liabilities:
Changes in accrued interest and operating lease income receivable
-1,450	-417	-385	-1,115	622	-949	-1,686	-156	90	-1,424	-231	-1,996	-3,350	-3,634	-2,813	-2,017	-2,430	2,068	1,781	1,681	2,705	1,426	1,961	2,847	-533	-2,310	-3,216	-3,822	-729	-1,337	-2,627	-8,969	-4,585	-4,793	0	0	0
Changes in deferred expenses and other assets, net
7,375	5,848	6,426	3,267	1,421	1,925	12,024	10,089	9,211	15,230	-1,565	14,900	14,725	5,656	11,660	985	1,564	-2,631	-9,602	-6,852	-3,412	-4,601	14,604	24,672	4,174	23,012	9,469	-11,855	-3,177	-1,271	-16,288	-36,960	-6,337	-20,580	0	0	0
Changes in accounts payable, accrued expenses and other liabilities
-15,110	-47,655	-31,427	-35,009	-28,060	-28,335	-34,136	-24,125	-12,858	7,299	5,528	16,540	-2,417	-453	852	-8,843	-12,334	-17,112	-15,245	9,249	22,158	7,245	5,271	-6,853	-32,644	5,945	-16,214	-2,525	1,807	11,725	-6,138	-8,423	-352	5,710	0	0	0
Cash flows used in operating activities
-20,089	-45,625	-63,307	-42,496	-24,095	-24,128	-34,995	-31,145	90,663	101,543	143,972	140,891	9,494	29,489	14,173	5,695	-21,566	-58,229	-86,956	17,991	2,125	-10,342	-40,520	-166,036	-161,595	-180,465	-257,654	-231,413	-223,746	-191,932	-95,427	-60,956	-79,830	-28,577	0	0	0
Cash flows from investing activities:
Originations and fundings of loans receivable, net
235,463	255,804	252,184	335,780	437,173	482,143	765,835	686,044	563,952	522,269	362,915	383,414	378,237	410,975	269,134	369,839	385,121	478,822	696,270	569,735	616,529	622,428	448,696	488,210	438,222	257,600	189,213	113,054	52,548	47,603	0	0	0	-	-	-	-
Capital expenditures on real estate assets
38,770	39,946	37,365	54,711	57,839	60,495	56,387	38,526	37,126	37,067	39,316	50,482	59,856	69,810	79,491	83,989	84,544	81,525	22,372	40,228	55,278	68,464	99,598	78,053	75,855	73,057	114,304	106,806	97,094	83,070	0	0	0	-	-	-	-
Capital expenditures on land and development assets
94,787	117,514	123,449	140,280	135,351	128,543	134,923	129,083	124,750	121,400	100,881	98,739	102,035	103,806	110,941	105,130	97,641	88,219	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of real estate, net investments in leases and land assets
130,824	240,487	256,551	145,920	129,117	19,454	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	4,666	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of and principal collections on loans receivable and other lending investments, net
280,231	419,800	498,155	510,241	876,372	832,982	838,838	801,288	559,079	615,620	752,744	669,858	602,699	504,844	278,766	400,479	311,673	273,454	296,045	425,485	444,592	512,528	532,396	477,014	523,255	613,615	784,862	695,245	775,703	728,657	618,329	742,174	1,141,294	1,208,403	0	0	0
Fundings under existing loan commitments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net proceeds from sales of loans receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,655	7,064	14,629	71,033	65,438	65,472	58,347	43,911	81,614	81,171	79,671	94,701	56,998	64,106	64,106	75,244	95,859	0	0	0
Proceeds from Sale of Real Estate
278,935	329,971	447,921	467,689	421,846	411,786	383,432	398,556	332,267	314,013	225,164	341,895	430,095	435,560	493,519	401,344	250,575	362,530	353,949	400,612	390,738	404,336	408,702	389,746	491,858	437,817	465,818	512,540	612,038	562,705	672,993	526,360	273,117	215,930	0	0	0
Net proceeds from sales of land and development assets
180,206	114,885	113,629	70,849	104,567	223,416	202,631	218,039	303,471	194,090	205,244	207,477	106,572	94,424	116,370	100,516	82,639	81,601	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from other investments
25,999	62,911	74,129	68,203	69,769	40,804	35,986	60,693	62,776	49,672	107,459	95,125	89,516	92,482	52,493	61,128	123,269	119,854	98,620	105,203	45,733	61,031	65,474	39,667	43,452	36,918	53,743	57,089	77,607	78,238	223,539	225,564	199,733	188,467	0	0	0
Contributions to and acquisition of interest in other investments
515,414	656,720	520,251	352,378	311,484	94,578	111,606	138,092	265,797	224,219	193,841	189,053	53,633	58,197	47,862	12,365	16,677	11,531	11,297	136,312	137,677	159,424	162,804	40,097	34,314	12,784	9,585	7,743	8,518	10,640	18,824	27,746	28,799	41,820	0	0	0
Other investing activities, net
3,636	21,090	-8,455	-20,479	-24,300	-41,476	-5,604	5,443	79	-1,231	10,086	14,003	30,912	24,997	19,031	13,404	-7,490	-7,581	-14,636	-15,188	-10,121	-1,291	-451	-5,244	-3,575	-4,741	868	2,069	3,275	3,361	-16	884	319	1,038	0	0	0
Cash flows provided by (used in) investing activities
-247,625	-398,096	-41,613	88,392	439,498	778,859	401,358	485,006	259,289	263,071	554,608	545,052	608,052	465,028	450,671	450,904	186,969	184,028	-63,207	90,116	108,278	159,793	258,839	252,060	617,431	893,447	1,707,928	1,759,749	1,876,591	1,267,047	808,869	825,619	992,940	1,461,257	0	0	0
Cash flows from financing activities:
Borrowings from debt obligations
1,729,660	1,486,980	1,189,352	435,114	767,860	704,360	734,999	1,766,763	1,434,017	2,288,654	1,923,243	924,237	1,295,638	716,001	696,401	821,401	574,000	549,000	549,000	400,000	1,597,755	1,349,822	1,556,714	1,536,128	787,932	1,444,565	0	0	0	-	-	-	-	-	-	-	-
Repayments and repurchases of debt obligations
1,216,395	1,482,558	643,919	917,308	974,939	944,800	1,878,722	1,701,677	1,917,899	1,921,699	1,111,114	1,083,991	1,513,641	1,442,938	1,067,588	1,176,512	702,810	432,383	455,587	309,294	1,422,639	1,471,174	1,751,460	1,873,936	1,198,403	1,984,102	0	0	0	-	-	-	-	-	-	-	-
Preferred dividends paid
30,245	32,495	32,496	32,496	32,496	32,496	34,326	39,032	43,738	48,444	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,320	51,270	49,020	46,770	44,520	42,320	42,320	42,320	42,320	42,320	42,320	0	0	0
Common dividends paid
26,729	25,059	24,888	24,792	18,354	12,227	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	193,510	193,510	193,510	193,510	0	0	0	0	-	-	-	-
Repurchase of stock
71,114	68,289	58,787	57,368	15,328	8,304	8,304	54,232	54,232	45,928	45,928	8,854	40,575	99,335	149,842	159,431	127,713	69,511	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for debt prepayment or extinguishment costs
0	-	-	-	0	-	-	-	-	14,108	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings under secured credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Repayments under secured credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Repayments under unsecured credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Repayments under secured term loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Repayments under unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Repurchases and redemptions of unsecured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Payments for deferred financing costs
22,310	19,928	10,611	612	5,219	5,471	10,723	25,097	21,174	32,419	29,022	14,220	21,477	9,980	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	21,662	4,189	3,267	20,950	35,545	0	0	0
Payments for withholding taxes upon vesting of stock-based compensation
4,617	4,475	2,462	2,641	2,804	4,807	4,400	4,221	4,149	724	759	759	762	1,451	1,238	1,238	1,144	1,718	4,451	4,667	9,477	21,250	18,595	18,574	17,660	14,098	14,799	14,722	10,826	12,589	17,187	17,118	17,120	6,273	0	0	0
Contributions from noncontrolling interests
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests
15,467	14,998	25,668	25,179	63,998	60,743	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in restricted cash held in connection with debt obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other financing activities, net
-	-	-	-	-	7,693	7,682	58	59	-611	-213	7,690	11,232	1,207	3,423	290	-6,438	1,663	4,650	-457	1,708	1,309	-10,224	-13,131	-14,367	-22,187	-17,467	-10,194	-12,128	-2,276	496	-4,307	697	2,424	0	0	0
Cash flows used in financing activities
321,823	-178,629	291,406	-718,622	-438,738	-457,939	-1,508,126	-364,525	-886,578	-41,480	661,381	-256,296	-311,591	-877,655	-574,158	-572,440	-200,076	112,763	153,705	172,084	105,351	-190,958	-300,983	-445,417	-514,632	-455,758	-999,481	-1,056,273	-1,311,310	-1,175,597	-645,798	-909,766	-1,104,677	-1,580,719	0	0	0
Effect of exchange rate changes on cash
-21	12	-26	-11	5	19	-17	-5	-7	-28	10	-8	-16	7	82	68	502	478	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in cash, cash equivalents and restricted cash
54,088	-622,338	186,460	-672,737	-23,330	296,811	-1,141,780	89,331	-536,633	323,106	1,359,971	429,639	305,939	-383,131	-109,232	-115,773	-34,171	239,040	3,954	280,623	215,754	-41,507	-82,664	-359,393	-58,796	257,224	450,793	472,063	341,535	-100,482	67,644	-145,103	-191,567	-148,039	0	0	0
Supplemental disclosure of non-cash investing and financing activity:
Fundings and repayments of loan receivables and loan participations, net
13,406	13,014	-174,855	311	-99,714	-80,095	-10,706	-197,720	-17,795	-57,514	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fundings of loan receivables and loan participations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Developer fee payable
-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of real estate and land and development assets through deed-in-lieu
-	-	-	-	-	4,600	4,600	4,600	4,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions of land and development assets to equity method investments, net
0	4,073	4,073	4,073	4,073	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable for capital expenditures on land and development assets
-	-	-	-	-	-	-	-	-	-	-	-	-	3,674	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable for capital expenditures on real estate assets
-	-	-	-	-	0	9,304	13,694	2,266	2,709	2,574	1,488	781	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from sales of real estate and land parcels
-	-	-	-	-	-	-	-	-	4,853	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued repurchase of stock
0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financing provided on sales of land and development assets, net
-	-	-	-	-	142,639	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-