WASHINGTON REAL ESTATE INVESTMENT TRUST WRE Cash Flow

Washington real estate investment trust (WRE)

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
389,674	383,550	335,040	8,163	17,926	25,630	22,279	19,199	16,296	19,612	22,701	99,550	123,524	119,288	175,957	96,875	62,168	89,187	29,401	32,479	36,445	111,601	128,200	130,382	134,565	37,346	21,396	25,117	25,862	23,708	51,848	105,323	105,871	105,378	84,895	28,517	36,982	37,559	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Real estate impairment
0	8,374	8,374	8,374	8,374	1,886	30,038	35,038	35,038	33,152	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,125	0	0	0	-	-	-	-
Gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	91,107	31,731	31,731	30,559	106,555	125,504	125,504	125,222	22,144	4,595	8,319	8,319	5,124	0	0	0	-	-	-	-	-	-	-	-
Depreciation and amortization
141,352	141,179	133,476	126,349	120,806	121,228	118,904	116,573	115,956	112,056	109,573	112,537	108,437	108,406	110,912	109,356	109,698	108,935	104,630	99,635	98,533	96,011	93,920	93,949	95,130	97,901	101,620	103,455	103,464	103,934	103,201	101,405	101,273	100,528	99,321	99,177	97,387	95,746	0	0	0
Credit losses on lease related receivables
913	-10	1,014	1,225	1,960	2,136	1,191	1,190	875	882	1,311	1,468	1,448	1,706	1,194	950	1,368	1,368	1,404	1,801	1,275	1,402	2,095	2,208	2,774	3,772	4,012	4,125	4,315	3,847	3,843	3,880	3,762	4,005	3,840	3,929	3,922	4,150	0	0	0
Share-based compensation expense
6,695	7,743	7,947	7,903	8,031	6,746	6,274	5,790	5,165	4,771	4,316	3,421	3,092	3,491	3,886	4,460	4,806	5,112	5,122	5,563	5,789	4,995	6,466	6,361	6,278	6,246	5,475	5,483	5,453	5,856	5,455	5,615	5,756	5,597	6,021	5,896	5,709	5,852	0	0	0
Amortization of debt premiums, discounts and related financing costs
3,304	3,195	3,168	2,490	2,191	2,101	2,040	1,964	1,866	1,897	2,220	2,531	2,827	3,187	3,214	3,236	3,451	3,486	3,519	3,688	3,523	3,588	3,908	3,923	4,079	4,158	4,011	3,971	3,915	3,867	3,386	3,463	3,377	3,194	3,600	4,148	4,820	5,532	0	0	0
Gain (Loss) on Extinguishment of Debt
468	0	0	0	0	-1,178	-1,178	-1,178	-1,178	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,176	0	0	0
Changes in operating other assets
7,156	10,086	11,794	13,457	9,335	8,674	7,829	10,058	14,312	20,199	24,452	25,869	22,068	15,713	13,627	10,721	10,470	10,496	16,784	16,029	21,086	23,306	17,990	17,111	13,115	10,591	2,997	5,364	5,133	8,458	11,663	8,185	9,977	16,416	21,172	25,360	27,050	20,974	0	0	0
Changes in operating other liabilities
-3,888	-4,801	-2,236	-4,886	-9,157	-2,367	-9,156	-7,317	-490	3,454	2,324	2,650	-1,009	-2,562	-169	-3,011	-10,354	-3,195	-5,137	-3,108	2,416	-4,619	-11,122	-7,497	-8,327	-6,107	1,149	-3,244	1,139	1,721	-2,016	-3,764	-6,473	-2,294	-865	-2,415	5,564	-3,509	0	0	0
Net cash provided by operating activities
132,205	130,923	137,775	137,207	138,301	147,369	137,532	136,170	136,573	130,626	122,929	118,623	113,173	114,725	118,870	116,249	105,865	109,318	96,452	98,326	96,336	83,117	82,710	89,448	98,899	113,318	132,168	127,321	132,793	131,448	124,004	124,772	120,624	117,626	114,839	109,968	115,468	111,933	0	0	0
Cash flows from investing activities
Escrow Deposits Related to Property Sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital improvements to real estate
72,021	68,456	68,221	71,610	70,506	71,070	58,766	54,686	56,924	60,515	54,078	64,661	63,814	57,094	56,624	45,472	41,442	41,507	38,950	41,254	52,222	57,810	58,426	59,707	55,996	55,829	54,218	54,724	50,923	51,180	51,008	43,941	39,584	32,815	28,593	26,372	25,269	25,045	0	0	0
Development in progress
50,803	47,492	36,654	38,823	36,143	34,806	30,198	26,287	20,387	18,150	15,902	11,866	23,970	22,572	21,725	35,868	25,932	31,203	44,037	43,023	45,451	43,264	34,804	22,894	16,241	15,826	11,354	10,781	9,502	6,494	18,326	16,345	26,676	25,929	12,291	12,147	885	1,337	0	0	0
Payments to Acquire Real Estate
-	-	-	-	-	-	-	0	244,771	-	0	0	0	-	-	-	-	-	-	-	-	194,536	202,326	202,326	96,251	48,200	0	0	0	-	-	-	-	281,701	0	0	0	-	-	-	-
Net cash received from sale of real estate
-	-	-	-	-	174,297	205,095	205,822	109,281	30,798	0	0	0	-	-	-	-	136,930	53,566	39,059	38,491	190,864	489,468	489,468	487,990	313,765	23,587	36,986	36,986	21,825	0	0	0	-	-	-	-	-	-	-	-
Non-real estate capital improvements
518	491	654	619	858	963	1,186	2,381	3,463	3,866	3,948	2,828	1,482	920	291	335	766	2,129	3,791	3,514	3,078	1,719	81	94	172	162	170	249	352	555	689	805	726	621	578	459	436	392	0	0	0
Real estate deposits, net
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	0	0	-	-400	1,250	6,400	3,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash released from replacement reserve escrows, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	206	-	3,764	3,714	2,413	1,417	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
54,133	61,036	-51,566	-540,793	-11,693	-38,942	1,520	9,818	-217,514	-196,354	-213,471	-95,616	-66,981	-63,492	26,427	-235,345	-129,335	-89,826	-226,568	-94,606	-112,048	-107,882	193,681	203,102	216,320	189,848	-49,205	-32,918	-76,183	-88,796	4,177	75,983	180,424	61,098	-72,522	-146,311	-237,913	-111,150	0	0	0
Cash flows from financing activities
Line of credit (repayments) borrowings, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Line of credit borrowings, net
-	-	-	-	-	-	0	0	137,000	-	64,000	-41,000	-92,000	15,000	-70,000	84,000	185,000	55,000	190,000	185,000	30,000	50,000	-80,000	-75,000	-70,000	0	85,000	-146,000	-39,000	-99,000	-193,000	-24,000	-69,000	-1,000	0	0	0	-	-	-	-
Line of credit repayments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Dividends paid
97,681	96,361	96,361	96,331	95,924	95,059	95,059	94,495	93,945	91,666	91,666	90,537	89,532	85,648	85,648	83,775	82,128	61,510	81,634	81,162	80,705	80,277	80,125	80,139	80,161	80,104	80,061	80,026	88,868	97,734	106,660	115,466	115,355	115,045	114,752	113,595	111,641	108,949	0	0	0
Principal payments – mortgage notes payable
58,681	12,724	13,197	34,229	34,382	170,081	170,236	138,579	138,534	52,571	154,679	154,920	236,188	270,061	168,351	168,462	87,576	4,512	4,452	4,426	4,279	3,954	29,078	29,206	28,681	58,679	92,601	114,034	115,042	85,667	45,455	33,184	32,779	32,331	13,518	25,842	25,882	25,985	0	0	0
Borrowings under construction loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of unsecured term loan debt
-	-	-	-	-	150,000	150,000	150,000	150,000	0	0	0	0	-	-	-	-	-	-	-	-	100,000	100,000	100,000	100,000	60,000	60,000	60,000	110,000	50,000	0	0	0	-	-	-	-	193,799	0	0	0
Proceeds from term loan
-	-	-	-	-	250,000	250,000	250,000	250,000	50,000	150,000	150,000	150,000	100,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of financing costs
1,051	1,303	1,304	1,304	491	5,650	5,650	5,650	5,496	319	316	1,588	1,588	1,590	1,693	1,576	5,093	5,095	4,992	3,837	320	742	1,503	1,503	1,503	843	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	401	477	776	533	298	-2,428	-2,683	-2,535	-2,488	-149	-147	-185	-163	0	0	0
Distributions to noncontrolling interests
14	15	11	15	15	14	4,143	4,147	4,166	4,199	120	145	141	196	143	110	91	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from dividend reinvestment program
4,579	4,755	3,592	2,401	2,353	1,973	1,905	2,025	2,179	2,576	2,637	2,496	1,814	700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	1,316	2,508	3,744	4,918	5,043	5,212	5,375	5,373	5,286	0	0	0
Net proceeds from equity issuances
0	-	-	-	0	-	-	-	-	113,200	113,225	93,485	202,895	172,936	173,072	143,451	124	5,215	35,769	35,811	35,781	30,690	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	168,880	0	0	0
Payment of tax withholdings for restricted share awards
1,805	2,116	2,262	2,255	2,207	2,051	1,916	1,920	1,997	2,286	1,742	1,817	1,766	1,960	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from exercise of share options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,153	304	227	1,135	1,292	1,179	1,218	360	3,963	0	0	0
Net cash used in financing activities
-178,496	-184,848	-77,862	402,739	-127,194	-113,410	-145,658	-152,478	78,276	60,729	81,339	-44,026	-66,506	-70,819	-154,637	121,781	10,104	-8,410	142,557	-3,951	-6,343	-89,751	-275,743	-275,241	-269,663	-191,928	-143,129	-102,756	-57,581	-35,998	-100,758	-229,503	-295,948	-244,955	-263,979	65,891	124,167	66,781	0	0	0
Net increase in cash, cash equivalents and restricted cash
7,842	7,111	8,347	-847	-586	-4,983	-6,606	-6,490	-2,665	-4,999	-9,203	-21,019	-20,314	-19,586	-9,340	2,685	-13,366	11,082	12,441	-231	-22,055	-114,516	648	17,309	45,556	111,238	-60,166	-8,353	-971	6,654	27,423	-28,748	5,100	-66,231	-221,662	29,548	1,722	67,564	0	0	0
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized
49,284	50,999	51,518	50,280	48,490	49,058	48,563	48,256	47,230	45,730	45,821	46,570	48,331	51,054	53,577	54,216	58,287	57,179	59,276	58,305	56,584	58,023	57,439	59,936	61,030	62,744	57,942	60,930	56,751	58,282	60,806	60,970	64,069	63,916	60,069	62,390	57,667	60,622	0	0	0
Change in accrued capital improvements and development costs
4,640	7,908	4,517	-8,931	2,675	-2,769	5,657	3,059	5,501	3,264	5,125	1,406	8,440	3,788	7,507	8,084	4,119	4,229	14,358	-5,311	2,666	4,154	-7,554	10,093	-2,842	328	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for income taxes, net of refunds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Reconciliation of cash, cash equivalents and restricted cash:
Mortgage notes payable assumed in connection with the acquisition of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-