Taubman centers, inc. (TCO)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Repayment of installment notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

281,467

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

385

1,802

0

2,925

0

0

70

6,595

0

0

1,620

0

-

-

-

-

2,778

5,430

0

0

2,469

556

46

6,408

4,711

0

0

0

552

6,117

99

2,062

-

-

-

-

Deposit in connection with anticipated refinancing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock (Note 14)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,825

43,328

122,498

84,982

0

0

0

17

31,098

21,189

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds and Excess Tax Benefit from Share-based Compensation

-608

-110

0

-125

-581

-90

-13

0

-2,293

4,647

0

-322

1,964

0

-37

2,159

-316

-68

-35

2,476

2,153

151

-1,589

-14

2,395

-1,778

4

61

3,357

-16,621

35

-802

10,885

4,664

-39

-32

-2,000

604

0

2,420

-492

Cash Flows From Operating Activities:
Net income

36,484

-32,631

316,390

16,877

29,738

12,938

38,115

30,093

34,596

38,084

14,251

27,663

32,759

50,894

35,184

57,744

44,329

46,595

52,629

42,333

51,000

656,274

56,637

39,054

526,157

66,166

43,243

33,603

46,356

49,131

45,061

31,448

32,177

220,796

21,868

20,290

24,444

58,572

8,458

18,484

16,813

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

51,696

51,343

47,849

44,259

44,956

54,950

46,307

42,996

35,022

44,848

45,805

39,442

37,711

38,040

40,637

29,716

29,746

28,780

27,156

26,378

24,041

23,686

24,553

36,850

35,118

39,510

40,982

38,258

37,022

40,434

36,414

36,235

36,434

33,204

33,054

34,424

32,025

27,769

44,500

35,918

37,084

Provision for bad debts (Note 1)

-

-

-

-

-

-631

-466

912

3,913

3,413

2,382

2,340

2,890

-684

722

1,766

2,243

-215

777

976

456

616

1,067

977

240

-1,379

638

179

1,051

-577

529

1,315

130

-3,230

1,115

1,843

2,304

150

1,009

1,000

1,204

Gains on partial dispositions of ownership interests in UJVs, net of tax (Note 2)

10,914

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on remeasurements of ownership interests in UJVs (Note 2)

13,729

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,279

5,361

1,905

1,764

-

-

-

-

Gain on sale of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,323

-

-

-

-

-

-

-

-

-

-

-

-

Gain on dispositions (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

629,667

0

0

486,620

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of peripheral land

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1,424

0

-403

-

-

-

-

-

-

-

-

-

0

0

863

-

0

0

0

-

-

-

-

-

-

-

-

Fluctuation in fair value of equity securities (Note 11)

-

-

-

-

3,346

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fluctuation in fair value of equity securities (Notes 1 and 7)

-

-

-

-

-

-1,272

4,987

9,348

-10,262

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) from UJVs net of distributions

-6,551

-677

5,033

-10,021

1,684

18

1,168

-963

1,206

5,086

-1,212

24,624

-29,343

-

-

-

-

-

-

-

1,448

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash operating lease expense

528

547

510

508

509

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-3,108

-3,079

-3,052

-3,275

-3,499

-3,312

-3,730

-3,585

-4,103

-3,936

-4,069

-3,414

-5,866

-6,016

-4,660

-3,761

-4,488

-4,302

-3,210

-7,770

-517

-11,091

-2,647

-852

-4,138

-1,408

-3,643

-2,648

-3,616

-3,379

-2,493

-2,505

-3,788

-3,087

-3,306

-3,395

-3,354

-19,522

2,778

3,378

2,150

Decrease in cash attributable to changes in assets and liabilities:
Receivables, deferred charges, and other assets

5,923

8,117

6,465

4,004

3,084

1,715

15,274

-1,041

1,193

11,576

5,467

3,259

6,118

21,626

13,704

-5,144

4,803

10,859

6,258

-4,177

2,696

5,260

-3,142

-4,325

2,802

12,410

8,256

-577

-8,036

23,767

7,088

-5,216

-1,194

17,000

5,462

-2,840

1,589

30,226

-271

-8,542

392

Accounts payable and accrued liabilities

-23,855

-11,499

14,186

22,895

-27,420

14,005

13,747

10,320

-35,310

9,803

-691

-7,270

5,792

-627

16,131

-1,794

-12,220

5,730

1,282

19,989

-20,385

18,776

18,781

-7,364

-13,717

9,856

17,513

5,898

-3,710

10,809

21,963

8,157

-13,031

10,577

11,733

7,186

-9,017

3,077

12,722

10,325

-8,275

Net Cash Provided By Operating Activities

43,946

40,086

76,688

93,831

43,168

84,113

78,970

80,562

50,187

71,809

60,616

37,706

108,243

63,633

82,206

96,337

63,380

74,333

78,796

103,071

51,485

114,144

106,656

80,372

62,514

102,261

97,763

81,163

90,185

79,409

99,372

84,876

60,692

74,542

70,975

71,364

53,285

86,521

69,196

59,523

49,368

Cash Flows From Investing Activities:
Additions to properties

24,165

37,603

69,779

41,955

47,006

69,110

71,836

90,232

58,676

103,477

90,588

79,821

79,436

127,672

186,212

95,795

95,185

105,509

124,210

113,545

97,414

150,468

128,899

98,779

64,845

90,837

75,282

58,367

59,378

45,721

83,334

24,901

93,681

15,391

17,015

15,623

21,414

24,395

15,604

21,255

10,898

Partial reimbursement of Saks anchor allowance at The Mall of San Juan

3,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash drawn from (provided to) escrow or deposits related to center construction projects (Note 7)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-125

99,491

4,097

-3,796

-6,436

-10,841

-7,784

30,977

-3,243

-2,119

44,992

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans to TCBL (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,948

Funding development deposit (Note 2)

-

-

-

-

-

-

-

-

-

-

0

0

10,998

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from partial dispositions of ownership interests in UJVs (Note 2)

48,311

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,390,796

0

0

385,598

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuances of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,948

Proceeds from sales of peripheral land

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,843

0

5,415

-

-

-

-

-

-

-

-

-

0

0

6,916

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of equity securities (Note 11)

-

0

0

0

52,077

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,493

-

-

-

-

-

-

-

-

-

-

-

-

Insurance proceeds for capital items at The Mall of San Juan (Note 15)

-

-

-

-

-

0

352

629

4,787

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Release of restricted cash (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-289,389

-

-

-

-

-

-

-

-

Collection and release of TCBL related proceeds (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,903

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

334

0

166

-

473

4,806

523

377

319

408

440

487

417

427

292

Contributions to UJVs (Note 2)

923

23,123

17,974

12,975

16,900

1,084

5,358

87,634

1,253

29,466

2,226

-330

1,628

37,654

32,173

670

9,479

23,547

23,486

30,018

20,242

1,865

23,225

9,117

11,767

-11,758

56,331

61,481

2,864

97,548

46,470

2,215

225

21,104

213

215

225

219

222

3,048

3,772

Contribution for acquisition of Country Club Plaza (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

314,245

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Distributions from UJVs (less than) in excess of income

-2,827

-1,936

-1,894

1,593

8,418

-3,647

-159

856

777

-4,694

2,793

32,614

39,289

54,610

1,465

7,889

168,260

5,619

-1,579

1,715

0

61,797

-355

-2,404

9,350

-3,927

-1,771

2,833

2,865

75,279

31,043

110,786

3,554

-2,870

12,871

13,690

-6,052

68,001

-27,641

-2,600

-4,924

Other

-24

-24

-23

-23

-23

-22

-23

-22

-22

-22

-21

-22

-21

-20

-19

-22

-20

2,481

-57

-339

-323

-25

-17

58

-7,345

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-73

Net Cash Provided By (Used In) Investing Activities

23,420

-13,049

166,121

-52,366

-3,388

-46,742

-48,092

-176,359

-54,343

-126,617

-88,700

-46,855

-52,752

-7,233

-210,933

-188,045

-249,311

-122,122

-142,782

-130,668

-109,549

1,269,308

-149,219

-108,239

280,689

-82,980

-133,050

-118,504

-36,899

-63,404

-98,288

88,476

199,560

-307,977

-35,100

-10,116

-15,147

-24,953

12,232

-19,792

-12,329

Cash Flows From Financing Activities:
Proceeds from revolving lines of credit, net (Note 5)

295,000

105,025

-176,275

-31,900

18,475

39,279

45,656

156,790

13,295

117,765

74,700

42,190

35,300

25,195

111,971

-44,926

142,460

0

-124,910

124,910

0

-36,195

-34,135

-18,560

-69,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt proceeds

-

-

-

-

-

0

250,000

0

550,000

0

13,320

21,840

301,589

26,910

52,971

604,383

74,727

67,293

1,048,353

31,963

51,031

-

-

-

-

520,016

86,398

-1,005

98,571

105,740

0

-85,955

85,955

-

-

-

35,996

0

131,000

76,895

5,605

Debt payments

2,998

28,482

2,794

2,765

2,871

2,773

296,476

2,646

476,654

1,609

1,564

1,549

303,951

1,549

1,503

362,970

1,505

17,110

541,525

1,510

18,645

1,745

1,931

1,912

101,256

172,253

9,395

-80,826

216,543

-193,231

179,876

21,225

3,592

205,001

-21,296

95,420

54,892

106

160,335

79,904

3,540

Issuance of Series K Preferred Stock, net of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

21

-15

164,389

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to noncontrolling interests

18,482

18,481

24,489

18,507

17,194

16,953

16,985

17,003

17,087

19,093

19,627

18,535

17,406

16,251

16,634

159,631

15,388

17,629

17,304

17,053

16,429

156,167

18,035

18,591

15,161

14,718

14,154

15,388

14,000

17,639

16,026

17,531

16,129

43,080

17,037

17,648

16,348

21,857

15,198

16,047

14,366

Distributions to participating securities of TRG

595

596

597

593

627

599

599

599

599

577

576

576

571

544

537

524

512

492

492

493

492

4,609

471

470

468

436

435

436

442

403

403

403

403

392

382

381

381

541

371

361

362

Contributions from noncontrolling interests (Note 9)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

1

0

22,345

0

2,243

1,437

1,049

643

3,924

1

230

321

181

230

31,479

-

-

-

-

Cash dividends to preferred shareholders

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

5,785

5,784

6,236

3,128

3,071

4,251

3,659

3,658

3,659

3,658

3,659

3,658

3,659

3,658

3,659

3,658

Cash dividends to common shareholders

41,357

41,323

41,319

41,295

41,283

39,997

39,964

39,949

39,948

38,020

37,945

37,935

37,928

35,956

35,941

35,918

35,918

34,012

34,076

34,558

35,184

335,041

34,137

34,315

34,172

31,465

31,918

31,978

31,744

28,656

28,500

27,242

27,145

26,067

25,327

24,446

24,446

33,961

22,692

22,652

22,585

Proceeds from (Payments for) Other Financing Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-50

-

-

-

-182

-

-

-

-

-

-

-

-

1

-2

-14

-90

1

0

0

-77

-38

-46

-73

-71

Net Cash Provided By (Used In) Financing Activities

225,176

12,706

-251,258

-100,970

-49,865

-27,303

-65,967

90,808

18,005

57,328

22,524

-742

-33,382

-7,980

104,506

2,718

152,214

-9,487

285,569

-35,614

-112,820

-1,152,754

-44,116

-17,867

-206,058

-10,665

4,177

27,098

-11,613

-13,244

-17,015

-155,226

-257,184

235,883

-31,053

-65,525

-36,389

-59,588

-73,344

-44,250

-39,469

Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash (Note 13)

-226

500

-2,100

-2,201

2,601

-400

-5,400

-2,121

2,621

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Decrease In Cash, Cash Equivalents, and Restricted Cash

292,316

40,184

-10,477

-61,734

-7,484

9,638

-40,440

-7,143

16,470

5,161

-5,940

-9,891

22,109

49,811

-24,221

-88,990

-33,717

-57,276

221,583

-63,211

-170,884

230,698

-86,679

-45,734

137,145

8,616

-31,110

-10,243

41,673

2,761

-15,931

18,126

3,068

2,448

4,822

-4,277

1,749

1,980

8,084

-4,519

-2,430