Terreno realty corporation (TRNO)
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'10
CASH FLOWS FROM OPERATING ACTIVITIES
Net income

12,856

14,821

14,784

10,379

15,532

22,972

10,123

20,137

10,057

10,836

20,933

15,527

5,799

1,832

3,070

2,783

7,433

560

4,214

10,672

-845

2,774

3,438

2,721

1,785

3,701

1,324

822

794

3,553

522

257

-267

-194

-268

-1,961

-1,306

-598

-2,704

-2,088

Adjustments to reconcile net income to net cash provided by operating activities
Straight-line rents

316

298

614

948

737

522

738

1,152

1,047

792

856

966

1,043

1,616

589

1,089

1,446

761

944

876

1,308

673

903

715

453

583

977

1,004

441

-366

959

1,188

892

320

327

497

310

212

0

8

Amortization of lease intangibles

1,389

-7,837

5,043

-2,758

870

-6,372

4,453

-898

-877

-640

-707

-478

-336

-346

-318

-330

-344

-339

-369

-636

-581

-317

-293

-261

-228

-189

-202

-356

-117

127

103

79

90

115

138

137

116

160

71

57

Depreciation and amortization

11,100

11,847

11,105

10,648

10,415

10,250

10,057

9,774

10,735

10,015

9,595

9,076

9,184

9,185

8,872

8,080

8,262

12,065

8,106

8,229

7,626

5,123

4,918

4,763

4,366

3,685

3,264

2,896

2,636

2,911

2,381

1,663

1,773

1,066

1,218

1,042

959

836

242

185

Depreciation related to discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

101

101

101

255

52

-

-

-

-

-

-

-

Gain on sales of real estate investments

0

3,144

1,782

0

4,465

13,624

0

11,703

3,283

-

-

-

-

0

1,892

0

5,248

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing cost amortization

367

391

392

391

388

361

366

368

347

327

312

276

278

258

204

122

182

130

106

81

76

50

97

67

65

65

65

64

58

61

128

138

135

75

63

51

49

1

33

39

Deferred senior secured loan fee amortization

43

42

43

42

404

147

147

98

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

2,179

2,492

1,992

3,660

2,500

3,248

1,793

2,187

2,042

1,471

2,411

3,325

1,525

3,474

3,037

1,922

1,011

2,510

889

1,041

1,641

-247

955

827

525

523

295

877

442

109

311

600

101

206

178

467

351

228

226

330

Changes in assets and liabilities
Other assets

-1,705

-1,529

1,438

-696

2,366

-828

267

1,522

570

353

-1,494

227

330

1,214

-114

363

1,711

-522

387

729

658

-417

-135

983

1,079

-958

-187

1,451

270

-223

-56

691

121

94

-446

449

593

139

-39

249

Accounts payable and other liabilities

-4,301

-61

1,417

402

-216

-1,757

1,074

3,864

-2,713

88

2,290

1,112

1,006

514

3,361

1,364

428

-110

1,684

1,260

-234

-883

2,337

156

837

-1,605

511

1,496

-1,296

-778

1,215

1,406

-135

294

409

194

280

200

646

686

Net cash provided by operating activities

22,158

26,197

24,546

24,168

19,777

20,593

21,358

20,957

14,691

15,847

20,023

17,545

16,083

12,087

16,098

12,489

8,567

10,329

13,299

12,723

5,717

6,244

10,684

6,575

5,818

3,777

4,467

3,344

1,907

2,636

3,858

2,519

736

1,603

2,016

-1,016

-454

476

-1,447

-1,048

CASH FLOWS FROM INVESTING ACTIVITIES
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

599

687

-2,293

3,988

550

-335

187

315

7

96

47

168

57

-53

46

-368

1,618

22

21

-

-

-

Cash paid for property acquisitions

30,081

21,881

143,570

47,457

25,753

52,663

68,262

15,479

85,402

107,001

51,840

123,156

15,112

44,479

36,344

20,738

26,934

72,967

24,637

14,360

151,015

127,977

20,721

46,414

30,685

99,247

37,546

61,075

11,470

27,115

64,650

68,193

6,085

39,908

10,050

46,126

842

178

5

65

Cash paid for deposits on property acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

500

100

-

100

-50

350

-

-2,200

2,200

200

-

-

-1,750

2,000

-

-

380

Proceeds from sales of real estate investments, net

0

21,828

13,325

0

11,980

36,603

0

23,150

19,841

-

-

-

-

0

5,467

0

15,912

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to construction in progress

2,709

4,934

9,140

8,277

5,533

4,662

2,537

1,921

548

-

-

-

-

3,909

4,868

5,499

1,301

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to buildings, improvements and leasing costs

8,391

9,833

4,220

9,642

8,375

9,292

6,358

7,587

5,740

8,469

6,339

6,166

6,431

8,782

7,054

6,234

4,866

5,852

5,084

4,545

3,365

7,152

7,107

3,379

2,091

3,230

1,775

2,892

1,634

1,364

2,195

3,716

2,937

3,825

1,685

-3,666

5,821

33,733

69,717

12,690

Payments on senior secured loan

4,987

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-36,194

-14,820

-143,605

-65,376

-27,681

-30,014

-77,157

-55,937

-71,849

-104,257

-19,133

-104,185

-21,543

-57,170

-42,799

-32,471

-17,189

-70,136

-30,857

-6,584

-152,087

-139,117

-27,778

-49,958

-33,063

-84,923

-39,428

-64,013

-13,501

-12,154

-64,702

-74,056

-9,268

-43,365

-13,103

-40,732

-8,684

-34,100

-69,346

-13,135

CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock

22,788

13,565

73,475

115,937

75,081

73,070

27,888

105,916

2,075

30,826

83,616

86,139

54,714

-

-

-

-

-

-

-

-

-

-

-

-

0

100,251

0

91,224

-9

0

0

55,013

-

-

-

-

0

-19

176,933

Issuance costs on issuance of common stock

331

198

1,064

1,460

1,301

1,059

405

1,536

30

469

1,211

1,290

794

-

-

-

-

-

-

-

-

-

-

-

-

0

313

0

335

1

10

0

294

-

-

-

-

-

-

-

Repurchase of common stock

240

0

0

0

3,959

0

0

0

3,870

0

0

0

3,436

0

0

0

1,551

7

0

8

497

0

0

0

284

0

0

0

160

0

0

0

79

-

-

-

-

-

-

-

Borrowings on credit facility

0

0

0

0

17,000

62,150

43,500

58,000

40,350

0

16,000

58,000

19,000

41,500

20,000

29,000

5,000

-

-

-

-

31,000

15,000

32,500

36,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on credit facility

0

0

0

0

36,000

65,000

27,000

93,000

0

0

37,000

53,000

54,500

-

-

-

-

-

-

-

-

-

-

-

-

0

6,500

25,000

65,429

15,000

44,271

38,000

41,000

-

-

-

-

-

-

-

Payments on term loans payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

10,050

0

10,000

-

-

-

-

-

-

-

Borrowings on mortgage loans payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

39,780

20,100

-

-

-

-

-

-

-

Payments on mortgage loans payable

32,732

384

381

376

373

17,776

480

475

470

465

460

457

534

528

10,385

613

5,345

13,558

760

9,758

768

756

698

4,194

6,619

727

715

707

703

642

535

369

301

273

259

191

166

-

-

-

Payment of deferred financing costs

-

-

-

-

-

1,352

4

0

10

-

-

-

-

-

-

-

-

316

600

201

10

695

6

1,003

1

2

3

0

718

15

42

606

447

514

123

0

2

435

0

447

Dividends paid to common stockholders

18,158

18,093

15,720

15,109

14,643

14,186

12,858

12,220

12,181

12,005

10,473

9,905

9,483

9,282

8,291

7,813

7,796

6,930

6,884

6,872

6,859

4,634

4,633

3,254

3,249

3,249

2,501

2,307

1,612

1,613

1,612

1,341

931

-

-

-

-

-

-

-

Dividends paid to preferred stockholders

-

-

-

-

-

-

-

-

-

0

216

892

891

891

891

892

891

891

891

892

891

891

891

892

891

891

891

892

891

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-28,673

43,947

56,310

98,992

35,805

35,847

30,641

56,685

25,864

17,887

103,384

78,595

4,076

49,092

16,758

38,491

-10,583

28,298

40,522

-14,655

-9,025

302,359

8,583

67,809

25,456

26,131

92,328

49,594

21,376

10,829

60,758

59,464

22,061

38,282

13,737

-2,120

-168

-598

-36

176,486

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

-42,709

55,324

-62,749

57,784

27,901

26,426

-25,158

21,705

-31,294

-70,523

104,274

-8,045

-1,384

4,009

-9,943

18,509

-19,205

-31,509

22,964

-8,516

-155,395

169,486

-8,511

24,426

-1,789

-55,015

57,367

-11,075

9,782

1,311

-86

-12,073

13,529

-3,480

2,650

-43,868

-9,306

-34,222

-70,829

162,303

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest, net of capitalized interest

4,970

2,766

5,822

3,133

6,630

4,171

6,252

2,966

6,398

2,922

3,906

3,097

3,914

2,829

2,815

2,324

3,920

2,054

2,055

2,120

2,153

1,603

1,376

1,393

1,870

1,778

1,605

1,359

1,671

1,579

1,405

772

1,063

799

675

344

284

-

-

-

Supplemental disclosures of non-cash transactions
Accounts payable related to capital improvements

9,149

3,089

-166

-1,545

11,120

4,429

-421

460

6,244

-774

-318

578

7,510

-4,070

3,400

4,103

4,522

1,811

576

-755

3,563

-2,297

349

1,240

3,061

307

464

-402

1,316

-757

-784

-312

2,304

814

808

-796

1,212

-

-

-

Non-cash repayment of senior secured loan

0

-

-

-

39,085

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash issuance of common stock to the deferred compensation plan

7,346

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash repayment of senior secured loan

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liability arising from recognition of right-of-use asset

585

-60

-59

-59

825

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reconciliation of cash paid for property acquisitions
Acquisition of properties

30,617

21,940

148,256

51,218

29,092

52,924

70,420

15,863

87,851

109,928

53,823

140,785

15,130

44,906

36,761

21,407

27,870

72,859

29,843

14,459

154,132

135,130

20,878

46,857

33,882

100,472

37,879

62,171

11,912

34,895

75,567

68,719

6,100

-

-

-

-

-

-

-

Deferred underwriting fee payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,000

Offering costs payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-65

-19

134

Contribution of fixed assets by Terreno Capital Partners LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

240

Assumption of mortgage loans payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,733

0

0

2,764

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-301

0

0

-43

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assumption of other assets and liabilities

536

59

4,686

3,761

3,339

261

2,158

384

2,449

2,927

1,983

17,629

18

427

417

669

936

-108

350

99

3,117

1,119

157

443

390

1,225

333

1,096

442

2,334

830

526

15

552

72

-10

21

-190

-1,686

-124

Net cash paid for property acquisitions

30,081

21,881

143,570

47,457

25,753

52,663

68,262

15,479

85,402

107,001

51,840

123,156

15,112

44,479

36,344

20,738

26,934

72,967

24,637

14,360

151,015

127,977

20,721

46,414

30,685

99,247

37,546

61,075

11,470

27,115

64,650

68,193

6,085

39,908

10,050

46,126

842

178

5

65