UNIVERSAL HEALTH REALTY INCOME TRUST UHT Cash Flow

Universal health realty income trust (UHT)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
19,306	18,964	17,539	17,260	18,804	24,196	25,847	25,433	23,661	45,619	44,001	43,859	44,349	17,215	17,121	16,942	24,423	23,691	35,567	60,069	51,473	51,551	38,821	13,983	13,516	13,169	14,181	13,864	13,390	19,477	77,593	77,955	79,180	73,794	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
25,342	25,670	25,707	25,507	25,240	24,763	24,755	24,903	25,155	25,091	24,892	24,457	23,717	23,008	22,234	21,783	22,111	22,198	22,937	22,764	21,671	20,975	19,584	18,915	18,855	18,843	18,913	19,576	19,833	20,216	17,949	14,485	11,023	7,306	0	0	0
Amortization related to above/(below) market leases, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt premium
-53	-53	-53	-54	-53	-50	-50	-62	-81	-139	-185	-214	-237	-225	-222	-225	-224	-225	-230	-232	-265	-312	-359	-406	-428	-433	-473	-617	-652	-657	0	0	0	-	-	-	-
Amortization of deferred financing costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
740	702	662	648	611	571	561	540	530	538	517	505	497	481	465	450	437	427	417	407	404	399	386	387	380	375	378	367	350	329	309	288	276	281	0	0	0
Cash distributions less than income from LLCs
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hurricane insurance recovery proceeds in excess of damaged property write-downs
-	-	-	-	-	4,535	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of land
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on Arlington transaction
-	-	-	-	-	-	-	-	-	27,196	0	0	0	-	-	-	-	-	-	-	-	25,409	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Income in excess of cash distributions from LLCs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gains on divestiture of properties owned by unconsolidated LLCs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,520	43,675	43,675	43,675	36,300	0	0	0
Gains on purchase of minority interests in majority-owned LLCs before transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Changes in assets and liabilities:
Lease receivable
-754	395	282	437	1,669	1,106	1,284	1,144	1,434	1,490	1,620	1,487	1,154	1,204	476	555	607	290	244	259	606	555	813	845	620	746	400	631	604	862	1,101	777	764	455	0	0	0
Accrued expenses and other liabilities
345	478	-548	-798	-1,190	-823	173	394	304	441	-111	51	787	3	297	-336	-540	-184	-348	406	-38	-509	9	-638	-105	523	505	535	234	278	183	419	142	221	0	0	0
Tenant reserves, deposits and deferred and prepaid rents
53	-549	-641	124	386	1,219	2,646	5,623	5,221	4,989	4,300	863	867	1,377	1,516	2,003	2,219	1,781	324	-236	-218	-303	194	256	-76	16	-272	-252	-272	207	548	482	607	4	0	0	0
Accrued interest
139	76	77	82	-130	90	173	60	205	86	-69	-50	-25	-122	-81	-32	-41	41	106	112	112	62	10	12	-32	22	45	62	-1	-66	-130	-158	-71	-39	0	0	0
Leasing costs paid
967	1,084	980	1,377	1,473	1,383	1,521	963	728	769	650	733	755	627	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-562	-946	-341	-630	-154	-166	-1,233	-774	-1,415	-1,040	-591	-912	-233	-583	-622	-933	-539	-119	-462	-372	-737	-851	223	388	600	431	299	-185	-263	-249	-210	-224	-86	-101	0	0	0
Net cash provided by operating activities
44,156	42,652	41,418	41,171	40,802	42,928	45,619	48,870	47,270	46,005	44,608	41,067	41,133	40,733	40,630	40,372	39,043	38,178	36,207	35,316	34,059	32,796	32,180	30,936	30,638	31,294	31,343	31,820	31,398	30,783	28,018	25,682	23,213	21,372	0	0	0
Cash flows from investing activities:
Investments in LLCs
3,060	2,133	845	1,049	992	820	773	369	530	532	532	532	439	5,454	5,703	5,729	5,732	667	512	842	1,216	1,337	1,663	2,084	2,914	3,013	3,889	4,084	3,230	2,973	1,990	1,359	2,015	3,788	0	0	0
Repayments of advances made to LLCs
-	-	-	-	-	-	-	-	-	216	433	646	858	851	0	0	0	-	-	-	-	-	-	-	-	114	8,161	8,145	8,141	8,551	2,553	2,592	8,439	8,718	0	0	0
Advances made to LLCs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,580	4,431	4,082	519	8,000	8,000	8,442	12,259	11,541	0	0	0
Cash distributions in excess of income from LLCs
-	318	404	681	933	834	900	954	823	1,187	2,104	1,992	1,772	1,362	0	0	0	-	-	-	-	1,029	1,582	1,805	1,989	2,346	2,322	2,133	2,583	3,169	3,816	4,290	5,083	5,260	0	0	0
Cash distribution of refinancing proceeds from LLCs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,045	1,045	3,325	3,325	2,280	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Additions to real estate investments, net
-16,007	-12,320	-8,929	-6,973	-8,110	-8,263	-11,123	-13,022	-13,119	-15,313	-15,083	-13,598	-13,544	-11,204	-8,694	-6,210	-4,930	-5,257	-4,500	-4,508	-4,393	-2,866	-3,126	-3,570	-3,622	-3,415	-3,574	-3,207	-3,488	-3,985	-3,337	-2,951	-1,879	-776	0	0	0
Cash proceeds received from divestiture of property, net
-	2,768	0	0	0	-	-	-	-	65,220	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,175	41,913	41,913	41,913	33,836	0	0	0
Restricted cash proceeds from divestiture of property
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hurricane insurance recovery proceeds in excess of damaged property write-downs
-	-	-	-	-	4,535	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hurricane remediation payments
-	-	-	-	-	192	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deposits on real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-100	-300	234	534	634	0	0	0
Net cash paid for acquisition of properties
-	-	-	-	-	-	-	-	-	-	-	-	-	60,389	52,193	27,943	9,910	16,765	16,765	25,315	25,315	15,600	15,600	11,100	11,725	4,675	14,242	10,192	9,567	16,891	20,397	35,120	46,902	39,578	0	0	0
Payment of assumed liabilities on acquired properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	711	1,174	1,174	1,164	621	0	0	0
Cash paid to acquire minority interests in majority-owned LLCs
-	-	-	-	-	-	-	-	-	7,890	0	0	0	-	-	-	-	2,250	3,500	6,824	6,824	4,744	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-21,623	-16,472	-9,325	-7,096	-11,977	-7,959	-6,593	-15,424	-11,910	39,461	28,936	13,242	-4,502	-74,834	-88,641	-61,772	-40,631	-44,309	-4,846	-14,676	-16,600	-4,038	-20,315	-15,720	-20,565	-13,373	-11,713	-7,347	-2,150	-8,565	17,413	3,244	-3,478	-3,284	0	0	0
Net borrowings on line of credit
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	52,400	0	0	0	-	0	0	0	-	14,100	9,200	3,950	4,600	-7,400	9,450	18,200	24,550	0	0	0
Net repayments on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from mortgage notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,150	18,150	18,150	25,150	14,000	0	0	0	-	-	-	-
Net (repayments)/borrowings on line of credit
-	-	-	-	-	-	0	0	0	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of mortgage notes payable
4,191	4,201	4,208	4,163	19,243	23,397	40,329	47,133	54,443	61,021	44,479	38,107	13,614	3,230	12,850	12,863	12,873	17,826	8,238	17,303	17,274	12,327	12,179	2,968	2,913	14,401	20,536	20,503	27,181	18,084	0	0	0	-	-	-	0
Financing costs paid
35	35	46	179	179	1,671	1,816	1,689	1,938	446	290	284	307	307	421	421	236	1,114	0	0	0	-	-	0	0	95	-45	132	479	384	0	0	0	-	-	-	-
Dividends paid
37,535	37,411	37,231	36,923	37,031	36,831	36,733	27,354	36,247	36,054	35,828	35,632	35,449	35,138	34,826	34,516	34,239	34,089	33,871	33,489	33,114	32,718	32,350	32,142	31,934	31,751	31,609	31,472	31,334	31,195	31,054	30,915	30,776	30,703	0	0	0
Issuance of shares of beneficial interest, net
205	212	221	230	230	229	228	9,300	9,357	9,362	9,369	1,348	13,523	13,492	13,427	12,708	526	1,668	17,871	17,487	17,969	19,274	8,637	8,642	8,182	5,757	252	276	284	350	352	331	304	244	0	0	0
Increase in cash, cash equivalents and restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-22,898	-25,106	-30,650	-33,735	-27,002	-33,320	-37,902	-43,076	-46,471	-86,009	-73,578	-43,654	-25,627	34,137	48,342	21,757	1,953	6,164	-31,449	-21,474	-18,676	-29,815	-12,643	-14,569	-9,666	-17,491	-19,704	-24,587	-29,716	-30,819	-43,067	-26,455	-16,910	-7,426	0	0	0
(Decrease)/increase in cash and cash equivalents
-365	1,074	1,443	340	1,823	1,649	0	0	0	-	-	-	-	36	331	357	365	33	-88	-834	-1,217	-1,057	-778	647	407	430	-74	-114	-468	-8,601	2,364	2,471	2,825	10,662	0	0	0
Increase in cash due to recording of LLCs on a consolidated/unconsolidated basis
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,581	1,440	116	116	-141	0	0	0	-	-	-	-	-	-	-	-
Supplemental disclosures of cash flow information:
Interest paid
9,714	10,025	10,222	9,962	9,445	9,469	9,351	9,364	9,544	9,692	9,763	9,683	9,496	8,895	8,464	8,192	7,982	8,025	8,245	8,381	8,403	8,268	7,912	7,641	7,544	7,517	7,641	7,871	7,892	7,994	6,952	5,424	3,873	2,216	0	0	0
Invoices accrued for construction and improvements
4,254	1,485	2,109	1,281	-84	924	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for purchase of minority interests in majority-owned LLCs
-	-	-	-	-	-	-	-	-	7,890	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-