Udr, inc. (UDR)
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
Operating Activities
Net income/(loss)

178,517

199,579

183,957

174,793

158,919

221,542

207,554

204,866

193,484

132,655

316,774

328,670

337,172

320,380

237,797

222,026

292,346

357,159

247,748

276,045

217,247

159,842

130,092

91,335

65,603

46,282

-4,675

-17,586

133,366

220,303

281,376

277,266

135,869

20,585

-56,850

-67,669

-110,218

-106,588

0

0

0

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

551,300

507,923

470,831

451,384

439,976

435,679

438,643

437,836

439,649

436,462

429,408

427,980

425,386

425,638

428,451

413,148

397,769

381,277

367,993

366,691

364,716

363,929

362,337

357,056

353,256

348,231

0

0

0

-

368,223

377,625

384,281

374,274

359,051

337,130

320,017

308,289

0

0

0

(Gain)/loss on sale of real estate owned

-

-

-

-

-

136,197

111,572

111,572

111,572

43,404

217,946

217,946

225,261

226,199

183,020

183,020

254,747

251,677

0

0

0

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on sale of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

143,647

0

0

0

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net gain on the sale of depreciable property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Tax (provision)/benefit, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,625

-7,748

-11,382

-15,136

-8,034

-8,202

-8,655

-7,299

-8,942

-60,632

-55,131

-30,282

-21,256

32,277

30,447

7,571

0

0

0

-

-

-

-

(Gain)/loss on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-4,135

-4,233

-5,223

-1,204

0

0

0

Write off of bad debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

(Income)/loss from unconsolidated entities

141,191

137,873

19,423

5,328

-3,329

-5,055

14,575

17,776

18,382

31,257

47,536

61,002

62,753

52,234

17,341

4,747

3,849

62,329

59,203

55,573

55,718

-7,006

734

-2,121

-1,178

-415

-8,838

-5,763

-8,690

-8,579

-7,914

-8,775

-7,711

-6,352

-5,707

-4,962

-4,799

-4,204

0

0

0

Return on investment in unconsolidated joint ventures

4,943

5,179

5,504

5,955

5,547

4,248

3,655

3,118

3,639

4,416

41,422

58,294

58,761

57,578

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of share-based compensation

25,201

24,330

16,570

17,478

16,677

14,244

13,484

13,111

12,987

12,862

12,934

13,156

12,898

13,398

14,114

16,032

17,636

18,017

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fee Income from the Sale of Real Estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Casualty-related (recoveries)/charges, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred financing costs and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,497

9,256

9,786

8,957

0

0

0

Amortization of deferred compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,982

10,508

11,169

11,411

0

0

0

Amortization of convertible debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,853

2,353

2,922

3,530

0

0

0

Other

34,833

39,958

16,988

9,326

7,163

4,998

9,506

12,623

17,997

20,467

46,069

44,031

41,208

39,490

4,120

3,039

2,847

3,410

-1,068

5,983

9,467

13,104

15,336

15,023

16,947

15,025

27,360

24,891

25,210

26,009

0

0

0

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140

-865

0

0

0

(Increase)/decrease in operating assets

13,137

10,956

632

344

15,145

13,880

14,425

16,551

9,482

9,008

26,535

29,007

23,512

29,399

5,272

20,634

11,299

4,652

5,230

-680

4,702

1,074

8,462

6,816

3,444

15,135

17,267

8,237

-6,106

-12,647

-6,324

9,399

30,156

38,282

16,832

13,575

6,859

-39

0

0

0

Increase/(decrease) in operating liabilities

-6,357

7,846

8,212

9,911

15,184

24,987

4,093

8,744

2,590

-4,278

-11,868

-15,266

-20,234

-12,084

7,859

-7,739

7,361

-9,590

-12,091

-10,098

-11,282

-5,618

-17,772

-17,645

-14,958

-16,699

-15,087

353

-25,434

-21,515

-17,161

-24,502

-4,990

-2,400

-7,862

-1,163

-706

-4,660

0

0

0

Net cash provided by/(used in) operating activities

628,827

630,704

610,828

591,996

565,753

560,676

536,363

534,399

530,910

518,915

542,722

549,715

544,068

536,568

535,947

468,094

475,370

458,627

421,127

428,093

410,800

397,303

360,583

353,726

355,763

339,902

338,795

347,843

323,833

327,187

318,179

288,069

273,472

251,411

239,612

227,476

220,623

214,180

0

0

0

Investing Activities
Acquisition of real estate assets

1,109,252

1,370,770

0

0

0

-

-

-

-

96,791

205,393

211,161

228,396

163,015

0

0

0

-

-

-

-

228,810

199,012

77,793

77,793

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of real estate investments, net

-

-

-

-

-

247,031

157,418

157,418

157,418

71,235

283,148

283,106

283,098

301,799

319,008

319,050

409,601

387,650

708,342

522,351

431,808

383,886

-343,122

-157,131

-297,965

-250,043

-1,327,368

-1,328,681

-723,738

-593,167

838,040

887,120

452,374

321,803

0

0

0

-

-

-

-

Proceeds from sale of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,799

0

0

0

-

-

-

0

Payments related to the buyout of joint venture partner

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,141

0

0

0

Development of real estate assets

42,251

25,401

33,316

52,396

92,757

150,238

194,260

228,288

249,242

248,546

232,180

240,574

205,256

178,279

148,375

103,260

95,687

103,205

182,235

201,612

238,909

251,493

211,596

224,533

251,569

280,603

306,391

313,096

275,585

246,923

198,291

159,997

133,695

98,683

82,998

74,918

85,084

92,142

0

0

0

Capital expenditures and other major improvements - real estate assets

168,907

167,188

149,550

137,987

128,858

112,359

109,476

118,031

117,538

124,728

123,644

93,937

88,778

91,740

93,010

115,059

117,886

113,400

94,466

86,558

86,884

96,679

123,186

128,912

159,102

153,676

150,056

160,232

143,780

144,877

130,994

120,768

101,867

91,476

89,421

75,236

78,576

73,977

0

0

0

Capital expenditures - non-real estate assets

16,292

17,159

13,034

10,496

7,763

4,850

1,117

842

584

1,384

3,222

4,541

5,008

4,439

5,812

4,335

4,276

4,049

3,904

4,235

4,819

5,497

5,742

6,117

6,441

7,639

10,337

10,665

9,168

7,947

4,791

12,511

13,496

13,267

13,270

4,174

3,269

4,342

0

0

0

Capital expenditures related to rehabilitation of hurricane-damaged assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Investment in unconsolidated joint ventures

87,809

93,059

99,045

122,354

113,678

112,025

106,731

97,878

119,385

123,842

112,500

87,036

51,093

40,162

51,867

54,199

205,441

217,642

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Distributions received from unconsolidated joint ventures

64,915

72,441

73,521

52,204

47,847

42,683

81,850

107,504

112,251

116,329

98,697

78,663

68,116

66,116

11,566

-133

-1,491

32,279

89,557

87,824

88,076

54,256

42,250

40,582

124,252

130,984

128,411

148,126

64,033

50,580

35,397

16,077

11,809

11,202

4,987

1,134

1,786

1,125

0

0

0

Purchase deposits on pending acquisitions

-

-12,160

-910

-5,250

-10,350

-1,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

80,397

0

0

0

-

-

-

0

Investment in unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

185,825

145,681

63,831

43,291

-13,169

3,752

25,149

283,369

377,966

368,848

361,126

104,311

0

0

0

-

-

-

-

Payments to Acquire Notes Receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Repayment/(issuance) of notes receivable, net

117,576

111,391

-3,110

-3,215

-2,495

22,790

0

0

0

-

-

-

-

-

-

-

-

2,325

-134,504

-108,589

-68,254

-68,664

48,368

22,453

-18,382

-19,027

0

0

0

-

-

-

-

7,800

0

0

0

-

-

-

-

Net cash provided by/(used in) investing activities

-1,440,982

-1,686,687

-1,293,244

-808,286

-548,711

-113,548

-227,141

-235,946

-269,169

-407,406

-224,489

-272,980

-230,317

-112,720

-308,871

-224,140

-261,149

-265,461

-225,883

-182,805

-211,432

-298,603

-295,621

-366,870

-158,901

-123,209

-278,626

-322,994

-88,246

-211,582

-29,355

-713,124

-1,222,178

-1,054,683

-1,191,690

-727,623

-583,243

-583,754

0

0

0

Financing Activities
Payments on secured debt

164,072

162,253

357,318

278,838

279,033

279,243

83,606

4,533

228,055

326,346

347,706

553,927

472,566

375,308

539,911

334,908

193,897

193,958

43,432

43,206

80,741

80,961

46,429

46,312

45,851

46,564

49,277

49,907

422,131

491,885

596,912

612,184

203,187

332,546

310,330

308,359

317,263

187,308

0

0

0

Proceeds from the issuance of secured debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,502

5,502

5,502

4,553

0

-3,601

-2,320

62

250

4,037

14,094

20,735

30,728

36,089

35,704

50,509

68,380

0

0

0

Payments on unsecured debt

-

-

-

-

-

-

-

-

0

-

-

-

-

95,053

95,164

95,274

83,702

325,540

325,429

325,319

453,711

312,500

312,500

312,500

306,500

122,500

122,500

122,500

0

100,000

100,000

197,039

354,022

264,829

264,577

167,538

40,043

79,236

0

0

0

Net proceeds from the issuance of unsecured debt

0

-

-

-

-

-

-

-

-

598,095

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

396,400

396,400

396,400

693,364

296,964

546,964

546,964

250,000

399,190

0

0

0

Net proceeds/(repayment) of commercial paper

125,000

198,885

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds/(repayment) of revolving bank debt

20,487

16,567

-16,563

-16,569

-3,397

-21,751

10,293

9,889

21,567

417

-206,208

-219,141

-40,208

-128,650

136,925

-197,801

-312,652

-2,500

-50,000

180,500

101,500

152,500

160,000

48,000

117,500

-76,000

0

228,500

-27,000

-345,000

-362,000

-5,000

11,450

389,250

249,400

-128,900

64,550

-157,550

0

0

0

Payment of financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,396

9,133

6,847

8,244

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,598

4,902

5,666

5,446

0

0

0

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

-

725,315

0

0

0

-

-

-

-

-

-

-

-

173,211

173,118

274,555

274,521

210,011

409,971

208,588

208,639

99,849

0

0

0

-

-

-

-

-756,138

771,680

1,311,089

986,209

879,754

864,092

689,227

488,423

467,565

0

0

0

Repurchase of common shares

-

-

-

-

-

19,988

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions paid to redeemable noncontrolling interests

30,645

31,580

32,924

33,122

33,020

32,457

32,117

31,844

31,603

31,089

30,778

30,449

30,079

29,688

25,072

20,130

15,230

10,654

10,271

10,168

10,078

9,929

9,780

9,632

9,445

9,348

9,252

9,158

9,065

9,033

8,998

12,495

11,984

10,947

9,962

4,581

4,164

4,314

0

0

0

Distributions paid to preferred stockholders

4,119

4,063

3,998

3,943

3,880

3,836

3,786

3,744

3,698

3,708

3,710

3,717

3,718

3,717

3,713

3,718

3,715

3,722

3,723

3,724

3,724

3,724

3,723

3,724

3,724

3,724

3,725

3,103

5,577

6,954

8,331

10,328

9,251

9,311

9,372

9,433

9,477

9,488

0

0

0

Distributions paid to common stockholders

395,098

383,079

369,267

358,307

348,101

342,241

338,688

335,310

331,902

327,793

323,617

319,251

315,161

308,923

302,804

296,121

289,180

283,168

276,816

270,321

263,840

256,100

248,667

242,082

235,739

231,822

227,929

224,149

215,191

207,470

195,950

179,933

164,110

150,446

140,456

131,549

126,325

120,729

0

0

0

Other

-47,395

-41,725

-9,207

-29,511

-33,308

-41,485

-44,254

-16,827

-22,521

-21,361

-17,377

-19,422

-12,499

-11,154

-21,075

-20,290

-19,882

-19,027

-8,156

-5,464

-6,935

-7,318

-4,856

-7,226

-8,829

-8,544

-10,087

-12,115

-22,157

-21,959

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by/(used in) financing activities

810,930

880,383

677,877

209,401

-13,741

-260,067

-303,343

-288,554

-263,105

-111,785

-320,131

-281,687

-316,000

-429,282

-225,096

-241,777

-216,827

-201,648

-208,528

-269,114

-208,985

-113,725

-61,506

30,925

-188,092

-198,559

-131,397

-199,926

-232,024

-115,993

-219,929

587,533

940,572

806,289

955,453

513,707

354,392

373,075

0

0

0

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

-1,225

-175,600

-4,539

-6,889

3,301

187,061

5,879

9,899

-1,364

-276

-1,898

-4,952

-2,249

-5,434

1,980

2,177

-2,606

-8,482

-13,284

-23,826

-9,617

-15,025

3,456

17,781

8,770

18,134

-71,228

-175,077

3,563

-388

68,895

162,478

-8,134

3,017

3,375

13,560

-8,228

3,501

0

0

0

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

182,607

169,558

153,628

141,737

141,582

132,466

135,476

118,504

129,040

126,348

123,835

125,889

125,180

124,635

124,430

128,585

121,876

130,240

128,201

128,972

133,917

131,815

133,843

132,598

124,484

127,877

129,226

128,767

142,932

133,133

130,750

141,301

144,874

155,598

162,440

159,085

158,912

154,843

0

0

0

Cash paid/(refunds received) for income taxes

1,601

1,519

1,999

1,304

888

625

436

748

1,467

1,660

1,637

1,482

597

693

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash transactions:
Transfer of investment in and advances to unconsolidated joint ventures to real estate owned

262,375

288,108

0

0

0

-

-

-

-

140,549

97,994

101,317

112,843

80,583

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of intellectual property in exchange for cancellation of secured note receivable

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of allowance for credit losses

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease right-of-use assets

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Secured debt assumed in the consolidation of unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease liabilities

-

88,336

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,363

1,363

1,363

1,363

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Vesting of LTIP Units

23,425

14,742

14,742

14,742

14,335

4,397

4,397

4,397

4,397

2,317

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Development costs and capital expenditures incurred but not yet paid

31,458

16,635

-959

-10,058

-18,700

10,304

18,372

27,248

49,343

43,930

50,716

52,640

59,401

46,285

51,017

39,792

22,223

20,375

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Hurricane-related recovery noncash income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

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

69,015

134,031

119,515

112,257

74,479

13,328

20,258

21,069

24,389

14,544

10,929

15,520

11,316

9,466

0

0

0

-

-

0

0

-

-

-

-

1,817

1,761

2,094

2,178

529

0

0

0

-

-

-

-

18,429

0

0

0

Retirement of fully depreciated assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,680

0

0

0

Issuance of restricted stock awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Marketable securities sold prior to and settled subsequent to end of period

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0