WELLTOWER INC. WELL Cash Flow

Welltower inc. (WELL)

CashFlow / Quarterly

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	Dec'10	Sep'10	Jun'10	Mar'10
Operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
329,380	240,136	647,932	150,040	292,302	124,696	84,226	167,273	453,555	-89,743	89,304	203,442	337,610	351,109	354,738	210,749	165,474	149,415	199,254	330,458	209,422	206,475	152,771	87,854	65,200	25,692	33,608	7,181	71,799	107,004	53,507	76,871	57,458	42,343	52,355	86,208	31,810	46,034	92	51,064	31,694
Adjustments to reconcile net income to net cash provided from (used in) operating activities:
Depreciation and amortization
-	-	-	-	-	242,834	243,149	236,275	228,201	238,458	230,138	224,848	228,276	227,916	218,061	226,569	228,696	222,809	205,800	208,802	188,829	195,393	200,971	214,448	233,318	243,381	242,980	200,477	187,122	140,342	132,858	132,963	127,422	122,144	115,640	111,053	74,768	59,119	52,392	47,451	43,581
Other Depreciation and Amortization
3,220	3,353	3,713	-234,171	243,932	4,890	4,126	3,813	4,171	4,426	4,306	4,428	3,361	3,403	2,278	2,023	1,118	1,124	1,409	1,138	1,320	1,345	2,561	1,393	1,672	1,435	119	2,349	4,194	3,483	3,183	3,535	4,984	4,827	4,124	3,562	4,338	3,991	5,131	4,633	3,414
Provision for loan losses
7,072	0	0	0	18,690	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	27,008	0	0	1,463	131	168	248	-	-	-	-
Impairment of assets
27,827	98	18,096	9,939	0	76,022	6,740	4,632	28,185	99,821	0	13,631	11,031	13,188	9,705	0	14,314	0	0	0	2,220	-	-	-	-	-	-	-	-	-	-	-	0	11,992	0	0	202	-	-	-	-
Stock-based compensation expense
7,083	4,546	5,309	7,663	7,529	4,846	6,075	5,168	11,557	2,643	6,790	4,763	4,906	8,251	5,401	7,031	8,186	5,189	5,477	11,124	9,054	5,967	4,271	14,170	7,667	3,527	3,956	2,186	10,508	2,292	2,595	2,311	11,323	1,745	1,767	1,681	5,593	2,066	1,010	1,197	7,550
Derivative, Gain (Loss) on Derivative, Net
-7,651	5,069	-1,244	-1,913	2,487	-1,626	-8,991	7,460	7,173	0	-324	-736	-1,224	-68	2,516	0	0	-116,854	0	0	58,427	-1,095	-49	-351	0	5	4,872	-2,716	2,309	-113	-3,833	2,676	-555	0	0	0	0	-	-	-	-
Loss (gain) on extinguishment of debt, net
0	-2,612	-65,824	0	-15,719	-53	-4,038	-299	-11,707	-371	0	-5,514	-31,356	-17,205	0	-33	24	195	-584	-18,887	-15,401	-6,483	-2,692	-531	148	-3,467	4,684	0	-308	1,566	-215	-576	0	979	0	0	0	0	-9,099	-7,034	-18,038
Income (Loss) from Equity Method Investments
-3,692	57,420	3,262	-9,049	-9,199	195	344	1,249	-2,429	-59,449	3,408	-3,978	-23,106	-2,829	-1,750	-1,958	-3,820	-3,273	-2,631	-2,952	-12,648	-7,721	-2,632	-11,517	-5,556	-4,658	-331	-5,460	2,262	232	-739	1,457	1,532	1,616	1,642	971	1,543	2,177	1,900	1,828	768
Rental income less than (in excess of) cash received
2,119	27,351	25,746	26,278	26,956	25,027	21,374	-34,950	21,406	15,533	23,540	23,184	18,141	23,021	6,157	24,386	29,669	29,017	29,692	29,803	27,244	23,535	24,603	11,091	15,323	14,842	12,763	15,925	2,538	293	11,276	10,668	10,125	11,982	10,292	7,886	1,418	394	1,670	1,815	2,715
Amortization related to above (below) market leases, net
-565	-341	-333	-116	114	624	621	645	718	177	132	40	8	-40	30	102	230	1,155	1,993	757	113	236	138	99	266	147	68	73	172	-602	972	47	-252	-919	-532	-398	-658	-744	-816	-809	-487
Loss (gain) on real estate dispositions, net
262,824	12,064	570,250	-1,682	167,409	41,913	24,723	10,755	338,184	56,381	1,622	42,155	244,092	200,165	162,351	1,530	0	31,385	2,046	190,111	56,845	196,205	-29,604	-13,079	0	106,340	-4,707	-134,987	82,492	54,503	12,827	32,450	769	4,595	185	30,224	26,156	15,556	10,526	3,315	6,718
Distributions by unconsolidated entities
3,385	0	-46	46	0	-	-	-	-	0	-3,109	2,751	474	592	122	177	174	202	153	110	172	177	1,728	2,595	4,560	8,885	0	0	0	13,687	-203	114	4,009	-6,149	0	0	0	-	-	-	-
Increase (decrease) in accrued expenses and other liabilities
-30,030	-29,913	-54,570	82,783	-27,368	-32,712	56,756	57,425	-10,707	-144,902	101,708	50,527	19,478	-65,321	35,998	57,147	-13,526	-51,727	32,342	57,906	-47,489	-29,122	-24,692	30,965	-25,532	57,911	-15,861	7,231	18,276	21,796	62	22,511	-6,156	-10,128	-17,635	-17,831	56,247	2,154	4,587	-272	5,824
Decrease (increase) in receivables and other assets
-43,284	55,163	4,938	-21,931	25,248	-17,052	-4,443	21,257	-5,591	-109,961	82,668	-9,264	13,071	-17,520	32,548	4,825	-1,816	-43,453	927	19,056	22,992	-26,095	30,279	2,880	18,575	-18,150	29,365	29,384	6,972	-1,033	-8,238	14,683	12,873	-10,147	-32,304	17,551	29,644	19,122	-9,834	4,322	6,925
Net cash provided from (used in) operating activities
411,857	326,068	355,418	510,587	343,895	372,796	372,724	469,780	368,644	271,713	318,355	458,583	385,526	358,896	424,511	475,048	380,609	346,275	416,978	393,164	226,182	284,501	258,635	336,873	258,661	362,590	219,170	206,929	199,808	254,663	212,432	176,994	174,044	170,591	176,035	127,811	113,787	76,137	97,098	99,018	92,488
Investing activities:
Cash disbursed for acquisitions, net of cash acquired
390,802	954,915	285,960	2,481,198	237,610	369,826	2,594,938	189,987	405,609	231,262	336,883	134,763	102,356	697,248	1,160,671	115,973	171,482	863,742	335,375	652,976	1,500,994	1,219,285	503,249	433,025	55,041	504,608	660,971	645,980	1,786,396	803,455	961,530	588,066	570,200	-8,544,715	659,847	2,687,245	683,352	1,273,212	411,091	228,062	161,811
Cash disbursed for capital improvements to existing properties
69,382	122,411	82,237	67,241	56,935	92,548	62,303	64,785	46,547	91,134	65,995	51,032	42,115	77,946	53,671	52,504	35,025	65,112	55,554	37,258	29,828	46,456	141,012	-27,282	-27,406	218,351	-34,039	-24,351	-24,129	-	-	-	-	-	-	-	-	-	-	-	-
Cash disbursed for construction in progress
48,775	65,375	102,704	100,018	55,391	72,560	25,168	40,243	22,735	34,647	49,022	79,712	69,334	77,759	75,505	183,128	66,739	79,250	50,833	54,926	59,552	57,052	236,030	-42,484	-52,717	426,410	-59,517	-79,280	-40,053	-	-	-	-	-	-	-	-	-	-	-	-
Capitalized interest
4,746	4,868	4,148	3,929	2,327	1,548	1,921	2,100	2,336	3,456	2,545	3,359	4,129	4,834	4,766	4,306	3,037	-14,981	1,865	2,059	2,387	-12,234	8,389	-1,700	-1,605	-2,002	-1,706	-1,386	-1,606	-2,664	-2,555	-2,138	-2,420	-3,074	-3,111	-2,314	-4,665	-4,784	-3,656	-5,276	-7,076
Investment in loans receivable
10,441	37,354	19,410	17,483	45,452	44,912	18,845	20,744	27,547	31,165	19,334	25,342	25,375	24,388	54,437	23,808	27,251	152,737	29,397	31,893	384,695	122,943	24,387	25,168	29,709	39,723	24,264	41,101	11,971	629,200	15,540	9,693	10,661	14,973	8,037	5,355	23,112	44,766	10,715	30,633	11,151
Principal collected on loans receivable
10,045	95,576	25,290	-370	7,210	54,343	58,165	696	90,731	132,717	45,763	27,708	8,792	24,460	56,749	74,569	93,774	60,719	33,769	20,841	16,501	59,228	25,327	10,295	10,646	17,331	30,008	5,621	49,926	18,443	3,716	8,560	4,301	39,792	10,623	126,055	12,341	24,676	9,399	4,754	4,666
Other investments, net of payments
3,612	-5,022	-4,336	9,811	7,829	-5,037	1,360	-1,067	49,279	94,971	1,580	-4,146	-48,311	-93,158	71,734	-14,109	30,773	12,683	18,780	8,405	102,126	60,831	-8,656	49,645	-1,787	-955	24,640	-10,029	1,978	1,327	-6,605	2,291	-22,438	16,460	8,269	-4,558	2,815	58,545	65,298	9,937	114
Contributions to unconsolidated entities
137,129	85,141	75,489	92,147	26,854	94,157	9,929	18,402	14,366	40,563	8,171	52,558	13,073	59,668	2,103	26,860	12,784	21,028	22,248	33,083	83,964	106,702	0	31,962	214,832	-281,898	20,560	1,532	359,575	0	181	227,554	0	2,005	0	177	602	21,721	118	14,593	159,981
Distributions by unconsolidated entities
3,555	117,351	28,036	51,120	19,724	29,663	38,356	8,017	14,880	11,533	11,370	23,223	24,161	47,159	53,263	7,554	11,747	-8,677	23,269	27,093	89,195	18,922	15,336	10,463	12,462	-846	16,913	4,870	9,916	544	12,592	0	0	-4,125	12,191	89	980	-	-	-	-
Proceeds from (payments on) derivatives
357	-	-	21,643	0	-39	37,760	19,354	8,324	108,490	-36,106	-11,447	-8,218	-51,505	0	-56,842	0	-2,745	-31,138	0	-72,477	-10,269	0	0	0	-54,106	63,513	0	-2,604	-11,087	2,218	2,217	0	-	-	-	-	-	-	-	-
Decrease (increase) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	0	-	24,560	-3,736	394	-	1,910	-14,082	1,660	-39,274	53,028	-2,658	-5,024	-11,161	-151,088	-12,548	94,840	-34,043	60,785	-4,855	13,879	-2,404	14,179	3,774	-45,797	17,845	-2,139	41,963	-5,545
Proceeds from Sale of Property, Plant, and Equipment
801,392	49,579	1,984,251	14,088	602,732	333,369	261,283	55,009	892,209	140,163	34,069	116,708	1,087,074	1,812,036	407,734	130,298	0	156,203	144,586	345,910	177,265	468,332	301,914	140,819	0	96,530	64,190	26,696	294,607	307,894	145,688	124,105	32,584	25,625	12,893	164,644	44,048	84,305	80,230	16,433	38,059
Net cash provided from (used in) investing activities
149,748	-990,466	1,473,039	-2,728,632	197,268	-253,178	-2,263,544	-290,826	421,077	-245,837	-356,222	-163,534	920,174	1,107,693	-929,701	-119,471	-241,964	-996,433	-283,200	-412,674	-1,809,768	-1,019,310	-308,474	-447,031	-351,391	-329,039	-499,985	-733,866	-1,968,703	-1,495,365	-869,772	-690,005	-537,837	-847,494	-657,736	-2,403,519	-611,380	-1,311,789	-399,110	-309,277	-291,863
Financing activities:
Net increase (decrease) in unsecured credit facility and commercial paper
-742,612	253,011	-534,602	1,449,895	-727,707	-165,000	772,000	-325,000	146,000	299,000	35,000	-137,000	-123,000	-705,000	605,000	100,000	-190,000	345,000	140,000	-60,000	410,000	0	0	-562,000	432,000	-704,050	834,050	-710,000	710,000	0	-393,000	388,000	-605,000	220,000	390,000	0	-300,000	300,000	-206,000	-219,000	285,000
Proceeds from Issuance of Unsecured Debt
0	721,043	1,216,552	1,000,000	1,036,964	-1,722	2,280,824	545,074	0	-	-	-	-	0	0	5,000	688,560	708,027	0	743,407	0	773,992	0	0	0	1,258,330	0	0	497,862	1,183,385	249,004	593,319	0	0	0	0	1,381,086	443,503	445,768	597,200	335,212
Payments to extinguish senior unsecured notes
0	227,790	2,057,500	0	1,050,000	0	1,000,000	0	450,000	0	5,000	0	0	465,863	0	0	400,000	24,284	56,996	322,896	154,654	317,597	47,592	0	-1	735,240	-217,612	-3	0	0	244,939	125,563	22	3	0	0	0	0	0	153,148	342,394
Proceeds from Issuance of Secured Debt
44,921	24,842	22,885	48,806	247,163	841	0	24,280	20,326	51,313	28,660	149,263	12,536	266,474	31,549	86,856	75,136	6,073	85,811	54,077	82,724	11,403	87,410	0	10,690	4,068	13,800	71,340	0	11,705	6,318	28,395	111,000	58,560	2,000	58,470	0	-	-	-	-
Payments on secured debt
31,566	50,481	55,252	50,587	128,113	123,974	13,909	27,303	197,655	93,467	30,750	197,691	822,438	91,861	190,847	150,708	130,343	103,935	145,505	115,893	208,057	55,677	66,182	90,441	129,539	98,730	501,816	54,626	18,931	133,811	20,264	210,543	41,592	63,713	7,204	7,175	5,906	40,406	169,601	4,326	3,378
Proceeds from Issuance of Common Stock
591,001	370,020	38,949	113,613	533,543	547,164	232,223	2,974	7,214	90,995	106,541	304,800	119,651	14,127	361,035	65,599	93,433	113,741	79,631	72,803	1,489,547	82,960	1,158,939	1,038,214	63,755	62,085	62,317	1,684,858	45,377	45,060	2,415,967	32,488	1,087,777	646,913	69,186	33,377	1,388,118	508,873	449,005	19,769	17,791
Net proceeds from issuance of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1	-213	277,901	0	0	-304	696,741	-	-	-	-
Redemption of preferred stock
-	-	-	-	-	-	-	-	-	0	0	0	287,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	275,000	0	-	-	-	-	-	-	-	-
Payments for deferred financing costs and prepayment penalties
722	1,893	58,072	4,611	19,566	-10	11,062	4,298	14,341	306	1,189	16,164	36,674	3,365	1,392	16,222	1,217	3,679	2,549	800	4,485	-647	14,034	1,111	2,284	1,105	1,608	1,140	9,650	2,033	421	2,374	2,324	2,873	14,391	3,264	8,339	1,876	106	1,248	639
Contributions by noncontrolling interests
9,084	12,377	3,866	11,262	27,860	27,969	2,817	2,687	5,734	9,351	37,546	6,996	2,667	6,285	3,923	12,316	126,142	9,913	158,179	2,412	2,514	4,390	1,087	3,707	778	-278	1,620	2,310	1,420	12,009	996	2,743	8,367	-1,051	568	8,992	95	120	220	912	1,359
Distributions to noncontrolling interests
50,124	34,670	74,266	42,174	21,830	23,409	26,978	46,920	12,564	35,887	13,681	18,129	20,014	28,502	14,943	14,911	76,222	23,438	8,068	11,954	7,417	12,782	16,701	6,822	7,386	13,090	12,642	5,338	4,522	14,070	5,610	6,196	3,477	8,795	5,106	9,747	7,057	652	55	132	2,462
Acquisitions of noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	38	-	-	-	0	-	-	-	-	0	2,350	0	-1,175	46,494	-23,247	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash distributions to stockholders
354,678	352,744	352,869	352,296	342,803	342,589	335,415	335,351	335,508	332,996	332,266	330,561	329,794	328,489	324,570	323,744	322,122	308,515	307,001	305,696	288,921	277,089	262,724	248,102	247,154	237,478	235,779	216,870	216,148	208,987	176,034	175,303	162,126	145,329	144,321	143,878	110,720	98,666	91,495	90,030	90,032
Other financing activities
-9,599	-4,032	-3,028	-899	-7,716	-481	-651	-1,084	-4,555	-2,423	509	-903	-8,022	-2,990	-1,295	-352	-7,294	-9,021	139	-18,825	-8,428	435	-236	-521	-87	4,616	362	-1,080	-992	-1,044	2,681	-1,064	-976	-	-	-	-	-	-	-	-
Net cash provided from (used in) financing activities
-544,295	709,683	-1,853,337	2,173,009	-452,205	-81,191	1,899,849	-164,941	-835,349	-14,420	-167,130	-239,351	-1,492,626	-1,339,184	468,460	-236,166	-143,927	707,373	-54,772	31,894	1,312,823	210,682	839,969	132,924	119,597	-25,642	-80,555	769,451	1,004,416	892,214	1,834,697	248,689	669,528	703,709	289,619	-63,529	3,034,018	1,186,075	427,736	229,124	200,457
Effect of foreign currency translation on cash and cash equivalents and restricted cash
-10,010	9,746	-4,103	-2,685	2,352	-3,583	-127	-5,749	444	2,536	12,667	8,806	2,843	-10,584	-1,238	-8,775	323	-6,264	-4,906	3,285	-690	-825	1,194	-1,340	281	-13,967	13,736	116	557	0	0	0	0	-	-	-	-	-	-	-	-
Increase (decrease) in cash, cash equivalents and restricted cash
7,300	55,031	-28,983	-47,721	91,310	34,844	8,902	8,264	-45,184	13,992	-192,330	64,504	-184,083	116,821	-37,968	110,636	-4,959	50,951	74,100	15,669	-271,453	-524,952	791,324	21,426	27,148	-6,058	-347,634	242,630	-763,922	-348,488	1,177,357	-264,322	305,735	26,806	-192,082	-2,339,237	2,536,425	-49,577	125,724	18,865	1,082
Supplemental cash flow information:
Interest paid
140,216	158,013	163,809	104,227	148,487	188,952	103,296	104,910	104,246	175,369	102,712	100,746	109,438	181,124	123,560	101,989	134,872	158,260	125,626	74,148	134,737	138,427	590,282	-98,242	-126,302	789,847	-145,759	-97,778	-99,202	-94,265	-94,786	-84,034	-96,426	-82,136	-91,037	-77,630	-35,081	-64,101	-21,079	-45,812	-25,215
Income taxes paid (received), net
471	9,554	2,744	2,290	-250	-945	-1,640	5,556	-721	4,804	1,246	1,011	3,349	941	3,181	1,458	2,431	725	1,349	7,198	2,942	1,876	28,627	-1,891	-10,064	17,256	-2,521	-1,705	-920	-59	-283	-133	-2,596	-69	-289	0	-31	-99	-71	-55	-94