Udr, inc. (UDR)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Operating Activities
Net income/(loss)

199,579

221,542

132,655

320,380

357,159

159,842

46,282

220,303

20,585

-106,588

-91,623

743,867

Deprecation and Amortization, Including Discontinued Operations

-

-

-

-

-

-

-

354,505

-

-

-

-

Gain Loss on the Sale of Real Estate, Including Discontinued Operations

-

-

-

-

-

-

-

251,554

-

-

-

-

Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization

507,923

435,679

436,462

425,638

381,277

363,929

348,231

-

374,274

308,289

283,552

256,850

(Gain)/loss on sale of real estate owned

5,282

136,197

43,404

226,199

251,677

143,572

-

-

-

-

-

-

Net gain on sale of marketable securities

-

-

-

-

-

-

-

-

-

4,725

-

-

Net gain on sale of cost investments

-

-

-

-

-

-

-

-

-

0

-

-

Gain (Loss) on Disposition of Real Estate, Discontinued Operations

-

-

-

-

-

143,647

41,919

-

125,928

4,083

-

-

Net gain on the sale of depreciable property

-

-

-

-

-

-

-

-

-

-

2,424

786,181

Tax (provision)/benefit, net

-

-

-

-

-

-15,136

-7,299

-30,282

7,571

2,533

-

-

Impairment loss, net of tax

-

-

-

-

-

-

1,470

0

0

-

-

-

(Gain)/loss on debt extinguishment

-

-

-

-

-

-

-

-

-

-1,204

9,849

26,306

Write off of bad debt

-

-

-

-

-

-

-

-

-

-

3,570

2,411

(Income)/loss from unconsolidated entities

137,873

-5,055

31,257

52,234

62,329

-7,006

-415

-8,579

-6,352

-4,204

-18,665

-3,612

Return on investment in unconsolidated joint ventures

5,179

4,248

4,416

57,578

27,012

4,943

-

-

-

-

-

-

Amortization of share-based compensation

24,330

14,244

12,862

13,398

18,017

13,954

9,531

-

-

-

-

-

Casualty-related (recoveries)/charges, net

-

-

-

-

-

-

-

-8,495

-

-

-

-

Amortization of deferred financing costs and other

-

-

-

-

-

-

-

-

-

8,957

7,953

7,585

Amortization of deferred compensation

-

-

-

-

-

-

-

-

-

11,411

7,605

7,024

Hurricane-related charges, net

-

-

-

-

-

-

-

-

0

0

-

-

Amortization of convertible debt discount

-

-

-

-

-

-

-

-

-

3,530

4,283

6,598

Other

39,958

4,998

20,467

39,490

3,410

13,104

15,025

26,009

22,457

-

-

-

Changes in operating assets and liabilities:
Changes in income tax accruals

-

-

-

-

-

-

-

-

-

-865

2,854

-

(Increase)/decrease in operating assets

10,956

13,880

9,008

29,399

4,652

1,074

15,135

-12,647

38,282

-39

-3,512

1,532

Increase/(decrease) in operating liabilities

7,846

24,987

-4,278

-12,084

-9,590

-5,618

-16,699

-21,515

-2,400

-4,660

291

-27,145

Net cash provided by/(used in) operating activities

630,704

560,676

518,915

536,568

458,627

397,303

339,902

327,187

251,411

214,180

229,383

179,754

Investing Activities
Acquisition of real estate assets

1,370,770

-

96,791

163,015

244,769

228,810

0

108,215

989,029

-

-

936,538

Changes in income tax accrual

-

-

-

-

-

-

-

-

-

-

-

-6,846

Proceeds from sales of real estate investments, net

38,000

247,031

71,235

301,799

387,650

383,886

-250,043

-593,167

321,803

20,738

-

1,487,067

Proceeds from sale of marketable securities

-

-

-

-

-

-

-

-

9,799

39,488

-

-

Payments related to the buyout of joint venture partner

-

-

-

-

-

-

-

-

-

16,141

-

-

Acquisition of real estate assets (net of liabilities assumed) and initial capital expenditures

-

-

-

-

-

-

-

-

-

347,582

28,528

-

Cash paid in nonmonetary asset exchange.

-

-

-

-

-

-

-

-

28,124

0

0

-

Development of real estate assets

25,401

150,238

248,546

178,279

103,205

251,493

280,603

246,923

98,683

92,142

183,157

160,074

Capital expenditures and other major improvements - real estate assets

167,188

112,359

124,728

91,740

113,400

96,679

153,676

144,877

91,476

73,977

85,403

123,234

Capital expenditures - non-real estate assets

17,159

4,850

1,384

4,439

4,049

5,497

7,639

7,947

13,267

4,342

6,269

23,249

Investment in unconsolidated joint ventures

93,059

112,025

123,842

40,162

217,642

222,930

-

-

-

0

-

1,595

Distributions received from unconsolidated joint ventures

72,441

42,683

116,329

66,116

32,279

54,256

130,984

50,580

11,202

1,125

1,741

801

Purchase deposits on pending acquisitions

-12,160

-1,000

-

-

-

-

-

-

80,397

0

-

694

Investment in unconsolidated joint ventures

-

-

-

-

-

-

43,291

283,369

104,311

110,921

24,988

-

Payments to Acquire Notes Receivable

-

-

-

-

-

-

-

-

-

-

500

13,569

Repayment/(issuance) of notes receivable, net

111,391

22,790

-321

3,000

2,325

-68,664

-19,027

-63,998

7,800

0

200,000

18,774

Purchase of marketable securities

-

-

-

-

-

-

-

-

-

-

30,941

-

Change in funds held in escrow from IRC Section 1031 exchanges

-

-

-

-

-

-

-

-

-

-

-

-56,217

Net cash provided by/(used in) investing activities

-1,686,687

-113,548

-407,406

-112,720

-265,461

-298,603

-123,209

-211,582

-1,054,683

-583,754

-158,045

302,304

Financing Activities
Issuance of note receivable upon the disposition of real estate

-

-

-

-

-

-

-

-

-

-

-

200,000

Payments on secured debt

162,253

279,243

326,346

375,308

193,958

80,961

46,564

491,885

332,546

187,308

159,612

216,354

Proceeds from the issuance of secured debt

162,500

80,000

-

50,000

127,600

5,502

0

250

30,728

68,380

560,436

445,162

Payments on unsecured debt

700,000

-

300,000

95,053

325,540

312,500

122,500

100,000

264,829

79,236

641,759

452,156

Net proceeds from the issuance of unsecured debt

1,099,816

299,994

598,095

300,000

299,310

298,956

299,943

396,400

296,964

399,190

100,000

240,000

Net proceeds/(repayment) of commercial paper

198,885

-198,885

300,000

-

-

-

-

-

-

-

-

-

Net proceeds/(repayment) of revolving bank debt

16,567

-21,751

417

-128,650

-2,500

152,500

-76,000

-345,000

389,250

-157,550

189,300

-309,500

Payment of financing costs

-

-

-

-

-

-

-

-

-

8,244

8,650

6,702

(Forfeitures)/issuance of common and restricted stock, net

-

-

-

-

-

-

-

-

-

5,446

398

2,588

Proceeds from the issuance of common shares through public offering, net

725,315

299,825

-

173,211

210,011

99,849

0

-756,138

879,754

467,565

67,151

184,327

Repurchase of common shares

-

19,988

-

-

-

-

-

-

-

-

798

140,533

Payments from the repurchase of Series G preferred stock, net

-

-

-

-

-

-

-

-81,609

-3,597

-637

-21,505

-20,347

Payment for redemption of OP unitholder for cash

-

-

-

-

-

-

-

-

-

0

-

-

Repayment from the investment of performance based programs, net

-

-

-

-

-

-

-

-

-

-

-

-944

Distributions paid to redeemable noncontrolling interests

31,580

32,457

31,089

29,688

10,654

9,929

9,348

9,033

10,947

4,314

7,275

18,666

Acquisition of nonredeemable noncontrolling interests

-

-

-

-

-

-

-

-4,871

0

-

-

-

Distributions paid to preferred stockholders

4,063

3,836

3,708

3,717

3,722

3,724

3,724

6,954

9,311

9,488

11,203

12,429

Distributions paid to common stockholders

383,079

342,241

327,793

308,923

283,168

256,100

231,822

207,470

150,446

120,729

144,576

166,983

Other

-41,725

-41,485

-21,361

-11,154

-19,027

-7,318

-8,544

-21,959

-18,731

-

-

-

Net cash provided by/(used in) financing activities

880,383

-260,067

-111,785

-429,282

-201,648

-113,725

-198,559

-115,993

806,289

373,075

-78,093

-472,537

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

-175,600

187,061

-276

-5,434

-8,482

-15,025

18,134

-388

3,017

3,501

-6,755

9,521

Supplemental Information:
Interest paid during the period, net of amounts capitalized

169,558

132,466

126,348

124,635

130,240

131,815

127,877

133,133

155,598

154,843

164,357

176,087

Cash paid/(refunds received) for income taxes

1,519

625

1,660

693

-1,014

1,345

-

-

-

-

-

-

Non-cash transactions:
Real estate acquired in asset exchange or upon consolidation of joint ventures

-

-

-

-

-

-

129,437

0

268,853

0

-

-

Transfer of investment in and advances to unconsolidated joint ventures to real estate owned

288,108

-

140,549

80,583

-

54,938

175,951

-

192,576

0

-

-

Transfer of investment in and advances to unconsolidated joint ventures to joint venture member

60,625

-

-

-

-

-

-

-

-

-

-

-

Write off of the fair market adjustment for debt paid off on consolidated joint venture

-

-

-

-

-

-

-

-

-

-

1,552

-

Write off of note receivable and other assets

-

-

-

-

-

-

-

-

-

-

1,354

-

Net gains on the sale of land

-

-

-

-

-

-

-

-

-

-

-

183

Gain on consolidation of joint ventures

-

-

-

-

-

-

-

-

-

-

1,912

-

Secured debt assumed in the consolidation of unconsolidated joint ventures

551,800

-

-

75,796

-

0

63,595

34,412

278,657

91,442

-

-

Recognition of operating lease right-of-use assets

94,349

-

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease liabilities

88,336

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for operating lease liabilities remeasurements

111,100

-

-

-

-

-

-

-

-

-

-

-

Fair value adjustment of secured debt assumed in the consolidation of unconsolidated joint ventures

-

-

-

4,228

-

0

-

-

-

-

-

-

Acquisition of communities in exchange for DownREIT units and assumption of debt

-

-

-

-

660,832

0

0

-

-

-

-

-

Acquisition of real estate

-

-

-

-

24,067

-

-

-

-

-

-

-

Fair value adjustment of debt acquired as part of acquisition of real estate

-

-

-

-

1,363

0

0

-

-

1,820

-

-

Vesting of LTIP Units

14,742

4,397

2,317

-

-

-

-

-

-

-

-

-

Development costs and capital expenditures incurred but not yet paid

16,635

10,304

43,930

46,285

20,375

34,746

-

24,551

2,009

1,152

-

-

Payment of Special Dividend through the issuance of 11,358,042 shares of Common Stock

-

-

-

-

-

-

-

-

-

-

132,787

-

OP Units issued in partial consideration for property acquisition

-

-

-

-

-

-

-

-

111,034

0

-

-

Secured debt transferred in asset exchange

-

-

-

-

-

-

-

-

55,356

0

-

-

Development costs and capital expenditures incurred buy not yet paid

-

-

-

-

-

-

37,220

2,617

26,880

-

-

-

Contribution of purchase deposit made in 2011 to unconsolidated joint venture

-

-

-

-

-

-

-

80,397

0

0

-

-

Secured debt assumed with the acquisition of properties, net of fair value adjustment

-

-

-

-

-

-

-

-

-

-

-

95,728

Conversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock (167,631 shares in 2020 and 1,838,133 shares in 2019)

134,031

13,328

14,544

9,466

3,817

4,372

1,817

529

287

18,429

21,117

12,175

Fair market value of land contributed by non-controlling interest

-

-

-

-

-

-

-

-

-

0

-

-

Non-cash consideration to acquire non-real estate asset

-

-

-

-

-

-

-

-

-

0

-

-

Retirement of fully depreciated assets

-

-

-

-

-

-

-

-

-

8,680

4,407

-

Issuance of restricted stock awards

-

-

-

-

-

-

-

-

-

-

2

6