Taubman centers, inc. (TCO)
CashFlow / TTM
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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

281,467

0

0

0

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

5,112

4,727

2,925

2,995

6,665

6,665

6,665

8,215

1,620

0

0

0

-

-

-

-

8,208

7,899

3,025

3,071

9,479

11,721

11,165

11,119

4,711

552

6,669

6,768

8,830

0

0

0

-

-

-

-

Deposit in connection with anticipated refinancing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock (Note 14)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

252,633

250,808

207,480

84,982

17

31,115

52,304

52,304

52,287

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds and Excess Tax Benefit from Share-based Compensation

-843

-816

-796

-809

-684

-2,396

2,341

2,354

2,032

6,289

1,642

1,605

4,086

1,806

1,738

1,740

2,057

4,526

4,745

3,191

701

943

-986

607

682

1,644

-13,199

-13,168

-14,031

-6,503

14,782

14,708

15,478

2,593

-1,467

-1,428

1,024

2,532

0

0

0

Cash Flows From Operating Activities:
Net income

337,120

330,374

375,943

97,668

110,884

115,742

140,888

117,024

114,594

112,757

125,567

146,500

176,581

188,151

183,852

201,297

185,886

192,557

802,236

806,244

802,965

1,278,122

688,014

674,620

669,169

189,368

172,333

174,151

171,996

157,817

329,482

306,289

295,131

287,398

125,174

111,764

109,958

102,327

0

0

0

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

195,147

188,407

192,014

190,472

189,209

179,275

169,173

168,671

165,117

167,806

160,998

155,830

146,104

138,139

128,879

115,398

112,060

106,355

101,261

98,658

109,130

120,207

136,031

152,460

153,868

155,772

156,696

152,128

150,105

149,517

142,287

138,927

137,116

132,707

127,272

138,718

140,212

145,271

0

0

0

Provision for bad debts (Note 1)

-

-

-

-

-

3,728

7,772

10,620

12,048

11,025

6,928

5,268

4,694

4,047

4,516

4,571

3,781

1,994

2,825

3,115

3,116

2,900

905

476

-322

489

1,291

1,182

2,318

1,397

-1,256

-670

-142

2,032

5,412

5,306

4,463

3,363

0

0

0

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,309

0

0

0

-

-

-

-

Gain on sale of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on dispositions (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,116,287

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on sales of peripheral land

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,827

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Fluctuation in fair value of equity securities (Note 11)

-

-

-

-

0

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

2,801

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) from UJVs net of distributions

-12,216

-3,981

-3,286

-7,151

1,907

1,429

6,497

4,117

29,704

-845

0

0

0

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash operating lease expense

2,093

2,074

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-12,514

-12,905

-13,138

-13,816

-14,126

-14,730

-15,354

-15,693

-15,522

-17,285

-19,365

-19,956

-20,303

-18,925

-17,211

-15,761

-19,770

-15,799

-22,588

-22,025

-15,107

-18,728

-9,045

-10,041

-11,837

-11,315

-13,286

-12,136

-11,993

-12,165

-11,873

-12,686

-13,576

-13,142

-29,577

-23,493

-16,720

-11,216

0

0

0

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

24,509

21,670

15,268

24,077

19,032

17,141

27,002

17,195

21,495

26,420

36,470

44,707

36,304

34,989

24,222

16,776

17,743

15,636

10,037

637

489

595

7,745

19,143

22,891

12,053

23,410

22,242

17,603

24,445

17,678

16,052

18,428

21,211

34,437

28,704

23,002

21,805

0

0

0

Accounts payable and accrued liabilities

1,727

-1,838

23,666

23,227

10,652

2,762

-1,440

-15,878

-33,468

7,634

-2,796

14,026

19,502

1,490

7,847

-7,002

14,781

6,616

19,662

37,161

9,808

16,476

7,556

6,288

19,550

29,557

30,510

34,960

37,219

27,898

27,666

17,436

16,465

20,479

12,979

13,968

17,107

17,849

0

0

0

Net Cash Provided By Operating Activities

254,551

253,773

297,800

300,082

286,813

293,832

281,528

263,174

220,318

278,374

270,198

291,788

350,419

305,556

316,256

312,846

319,580

307,685

347,496

375,356

352,657

363,686

351,803

342,910

343,701

371,372

348,520

350,129

353,842

324,349

319,482

291,085

277,573

270,166

282,145

280,366

268,525

264,608

0

0

0

Cash Flows From Investing Activities:
Additions to properties

173,502

196,343

227,850

229,907

278,184

289,854

324,221

342,973

332,562

353,322

377,517

473,141

489,115

504,864

482,701

420,699

438,449

440,678

485,637

490,326

475,560

442,991

383,360

329,743

289,331

283,864

238,748

246,800

213,334

247,637

217,307

150,988

141,710

69,443

78,447

77,036

82,668

72,152

0

0

0

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

99,667

93,356

-16,976

-28,857

5,916

9,109

17,831

70,607

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans to TCBL (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Funding development deposit (Note 2)

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,776,394

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuances of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,948

0

0

0

Proceeds from sales of peripheral land

-

-

-

-

-

-

-

-

-

-

-

-

-

11,258

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of equity securities (Note 11)

-

52,077

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

5,768

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Release of restricted cash (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-289,389

0

0

0

-

-

-

-

-

-

-

-

Collection and release of TCBL related proceeds (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

6,179

6,025

1,627

1,544

1,654

1,752

1,771

1,623

0

0

0

Contributions to UJVs (Note 2)

54,995

70,972

48,933

36,317

110,976

95,329

123,711

120,579

32,615

32,990

41,178

71,125

72,125

79,976

65,869

57,182

86,530

97,293

75,611

75,350

54,449

45,974

32,351

65,457

117,821

108,918

218,224

208,363

149,097

146,458

70,014

23,757

21,757

21,757

872

881

3,714

7,261

0

0

0

Contribution for acquisition of Country Club Plaza (Note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

314,245

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Distributions from UJVs (less than) in excess of income

-5,064

6,181

4,470

6,205

5,468

-2,173

-3,220

-268

31,490

70,002

129,306

127,978

103,253

232,224

183,233

180,189

174,015

5,755

61,933

63,157

59,038

68,388

2,664

1,248

6,485

0

79,206

112,020

219,973

220,662

142,513

124,341

27,245

17,639

88,510

47,998

31,708

32,836

0

0

0

Other

-94

-93

-91

-91

-90

-89

-89

-87

-87

-86

-84

-82

-82

-81

2,420

2,382

2,065

1,762

-744

-704

-307

-7,329

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net Cash Provided By (Used In) Investing Activities

124,126

97,318

63,625

-150,588

-274,581

-325,536

-405,411

-446,019

-316,515

-314,924

-195,540

-317,773

-458,963

-655,522

-770,411

-702,260

-644,883

-505,121

886,309

879,872

902,301

1,292,539

-59,749

-43,580

-53,845

-371,433

-351,857

-317,095

-110,115

126,344

-118,229

-55,041

-153,633

-368,340

-85,316

-37,984

-47,660

-44,842

0

0

0

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

191,850

-84,675

-150,421

71,510

260,200

255,020

333,506

362,550

247,950

269,955

177,385

214,656

127,540

234,700

209,505

-27,376

142,460

0

-36,195

54,580

-88,890

-158,040

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt proceeds

-

-

-

-

-

800,000

800,000

563,320

585,160

336,749

363,659

403,310

985,853

758,991

799,374

1,794,756

1,222,336

1,198,640

0

0

0

-

-

-

-

703,980

289,704

203,306

118,356

105,740

0

0

0

-

-

-

243,891

213,500

0

0

0

Debt payments

37,039

36,912

11,203

304,885

304,766

778,549

777,385

482,473

481,376

308,673

308,613

308,552

669,973

367,527

383,088

923,110

561,650

578,790

563,425

23,831

24,233

106,844

277,352

284,816

202,078

317,365

-48,119

122,362

224,413

11,462

409,694

208,522

282,717

334,017

129,122

310,753

295,237

243,885

0

0

0

Issuance of Series K Preferred Stock, net of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

164,395

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to noncontrolling interests

79,959

78,671

77,143

69,639

68,135

68,028

70,168

72,810

74,342

74,661

71,819

68,826

209,922

207,904

209,282

209,952

67,374

68,415

206,953

207,684

209,222

207,954

66,505

62,624

59,421

58,260

61,181

63,053

65,196

67,325

92,766

93,777

93,894

94,113

72,890

71,051

69,450

67,468

0

0

0

Distributions to participating securities of TRG

2,381

2,413

2,416

2,418

2,424

2,396

2,374

2,351

2,328

2,300

2,267

2,228

2,176

2,117

2,065

2,020

1,989

1,969

6,086

6,065

6,042

6,018

1,845

1,809

1,775

1,749

1,716

1,684

1,651

1,612

1,601

1,580

1,558

1,536

1,685

1,674

1,654

1,635

0

0

0

Contributions from noncontrolling interests (Note 9)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,345

22,346

24,588

26,025

4,729

5,372

7,053

5,617

4,798

4,476

733

962

32,211

0

0

0

-

-

-

-

Cash dividends to preferred shareholders

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,138

23,589

20,933

18,219

16,686

14,109

14,639

15,227

14,634

14,634

14,634

14,634

14,634

14,634

14,634

0

0

0

Cash dividends to common shareholders

165,294

165,220

163,894

162,539

161,193

159,858

157,881

155,862

153,848

151,828

149,764

147,760

145,743

143,733

141,789

139,924

138,564

137,830

438,859

438,920

438,677

437,665

134,089

131,870

129,533

127,105

124,296

120,878

116,142

111,543

108,954

105,781

102,985

100,286

108,180

105,545

103,751

101,890

0

0

0

Proceeds from (Payments for) Other Financing Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-105

-105

-103

-89

-76

-115

-161

-234

-228

0

0

0

Net Cash Provided By (Used In) Financing Activities

-114,346

-389,387

-429,396

-244,105

-52,327

15,543

100,174

188,665

97,115

45,728

-19,580

62,402

65,862

251,458

249,951

431,014

392,682

127,648

-1,015,619

-1,345,304

-1,327,557

-1,420,795

-278,706

-230,413

-185,448

8,997

6,418

-14,774

-197,098

-442,669

-193,542

-207,580

-117,879

102,916

-192,555

-234,846

-213,571

-216,651

0

0

0

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

-4,027

-1,200

-2,100

-5,400

-5,320

-5,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Decrease In Cash, Cash Equivalents, and Restricted Cash

260,289

-39,511

-70,057

-100,020

-45,429

-21,475

-25,952

8,548

5,800

11,439

56,089

37,808

-41,291

-97,117

-204,204

41,600

67,379

-69,788

218,186

-90,076

-72,599

235,430

13,348

68,917

104,408

8,936

3,081

18,260

46,629

8,024

7,711

28,464

6,061

4,742

4,274

7,536

7,294

3,115

0

0

0