| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||||||||||||||||||
-37,130 | 16,086 | 10,667 | 13,214 | 17,276 | 102,623 | 9,334 | 29,532 | 57,043 | 9,823 | 11,768 | 70,998 | 8,227 | 49,327 | 20,432 | 26,140 | -9,169 | 61,915 | 17,847 | 23,746 | -14,866 | 75,099 | 9,494 | 22,887 | 2,319 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||||||||||||||||||
Depreciation | ||||||||||||||||||||||||
36,448 | 35,661 | 38,356 | 38,979 | 39,274 | 40,104 | 38,423 | 37,770 | 37,965 | 39,951 | 36,510 | 36,198 | 36,280 | 37,065 | 37,107 | 37,591 | 38,199 | 36,997 | 37,007 | 35,119 | 35,301 | 33,688 | 46,522 | 46,267 | 46,487 |
Non-cash ground rent and amortization of other intangibles | ||||||||||||||||||||||||
737 | 760 | 767 | 732 | 801 | 1,131 | 941 | 906 | 876 | 2,537 | 1,086 | 523 | 354 | 403 | 807 | 965 | 775 | 1,051 | 913 | 809 | 1,047 | 1,190 | 657 | 2,860 | 0 |
Amortization of debt premiums, discounts, and financing costs | ||||||||||||||||||||||||
623 | 623 | 602 | 602 | 625 | 628 | 600 | 646 | 721 | 749 | 697 | 683 | 719 | 746 | 947 | 1,059 | 1,003 | 884 | 681 | 1,022 | 1,169 | 1,056 | 991 | 1,264 | 1,150 |
Gain (Loss) on Extinguishment of Debt | ||||||||||||||||||||||||
0 | 0 | 0 | -1 | -213 | -134 | 0 | -384 | -81 | 0 | 0 | -274 | 0 | -132 | -245 | -36 | -4,742 | -5,478 | 0 | -178 | -105 | -65,909 | -115 | -1,081 | 0 |
Loss (gain) on sale of investment properties | ||||||||||||||||||||||||
- | - | - | - | - | 81,246 | 0 | 10 | 42,284 | 0 | 1,571 | 49,176 | 0 | 29,403 | 0 | -90 | 882 | 43,015 | 0 | 0 | 0 | - | - | - | - |
Impairment and other losses | ||||||||||||||||||||||||
16,368 | 9,400 | 0 | 14,771 | 0 | - | - | - | - | - | - | - | - | 29 | 15 | 2,397 | 7,594 | 0 | 0 | 0 | 0 | 713 | 1,667 | 0 | 2,998 |
Equity in losses and gain on consolidation of unconsolidated entity, net | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | -32 | 4,248 |
Share-based compensation expense | ||||||||||||||||||||||||
2,040 | 2,289 | 2,295 | 2,902 | 1,894 | 2,178 | 2,167 | 2,757 | 2,070 | 2,343 | 2,405 | 2,952 | 2,230 | 1,919 | 2,045 | 2,307 | 2,697 | 1,328 | 1,326 | 1,774 | 1,674 | 0 | 0 | 0 | 0 |
Other non-cash adjustments | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -109 | - | -379 | -235 | 578 | 0 | 0 | 0 | 0 |
Changes in assets and liabilities: | ||||||||||||||||||||||||
Accounts and rents receivable | ||||||||||||||||||||||||
-13,084 | -6,888 | -5,616 | -14,233 | 28,501 | -10,096 | -2,448 | -7,177 | 15,617 | -3,767 | -7,256 | 4,062 | 8,870 | -10,284 | 5,370 | -4,912 | 8,356 | -8,750 | 4,124 | -3,679 | 8,643 | -12,764 | -399 | -2,942 | 15,100 |
Other assets | ||||||||||||||||||||||||
15,646 | 3,454 | -3,923 | -4,761 | 9,548 | -967 | -1,015 | -2,843 | 1,312 | 4,328 | -1,699 | -4,468 | 1,610 | - | - | - | - | -29 | 200 | 80 | -1,319 | -3,460 | -4 | 3 | -10,074 |
Deferred costs and other assets | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,297 | -5,269 | -886 | 3,865 | -1,981 | -8,507 | 2,280 | -2,719 | -3,832 | -5,224 | 566 |
Accounts payable and accrued expenses | ||||||||||||||||||||||||
-9,526 | -20,131 | 9,607 | 6,540 | 6,401 | -15,892 | 10,351 | 4,851 | 1,997 | -13,489 | -222 | 7,730 | -5,054 | -9,987 | 7,145 | -278 | -5,072 | -9,334 | 8,655 | 4,878 | -10,624 | -5,641 | 6,409 | 8,658 | -3,331 |
Other liabilities | ||||||||||||||||||||||||
-1,611 | -7,558 | 366 | 2,487 | 5,203 | -3,289 | 1,080 | 784 | 1,221 | 269 | 476 | 5,335 | 1,939 | -1,731 | 1,945 | 1,523 | -6,176 | 8,805 | 5,343 | 2,515 | -2,631 | -3,460 | -1,235 | 6,048 | -6,251 |
Net cash provided by operating activities | ||||||||||||||||||||||||
5,387 | 41,511 | 72,199 | 99,222 | 33,638 | 57,434 | 66,359 | 87,640 | 42,761 | 41,622 | 61,054 | 75,923 | 34,215 | 56,567 | 59,869 | 79,118 | 33,889 | 51,348 | 59,322 | 77,432 | 4,936 | -8,917 | 71,418 | 83,144 | 35,960 |
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchase of investment properties | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 116,000 | 260 | 245,000 | 0 | 0 | 6,785 | 0 | 0 | 171,991 |
Acquired goodwill, intangible assets, and intangible liabilities | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 573 | 0 | 0 | 11,837 |
Capital expenditures and tenant improvements | ||||||||||||||||||||||||
22,177 | 30,242 | 26,232 | 23,302 | 13,260 | 24,614 | 27,738 | 31,983 | 23,875 | 34,288 | 22,793 | 16,106 | 13,214 | 20,732 | 17,930 | 12,893 | 7,268 | 13,205 | 9,990 | 13,868 | 17,083 | 20,846 | 11,060 | 7,883 | 7,478 |
Deposit received for pending dispositions of hotel properties | ||||||||||||||||||||||||
2,000 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from sale of investment properties | ||||||||||||||||||||||||
- | - | - | - | - | 215,637 | 0 | 0 | 196,920 | 0 | 17,501 | 186,852 | 0 | 115,505 | -34 | 129,230 | 30,899 | 133,412 | 0 | 0 | 0 | - | - | - | - |
Investment in development projects | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5,221 | 7,693 | 11,676 | 11,473 | 11,733 | 8,012 | 4,503 | 2,783 |
Consolidation of real estate entity | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 2,944 |
Restricted cash and escrows | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,756 | -4,189 | - | -2,784 | 2,981 | -4,352 | -18,500 | 1,313 | 15,564 | 4,638 |
Net cash used in investing activities | ||||||||||||||||||||||||
-20,177 | -160,094 | -26,232 | -23,302 | -13,260 | -20,140 | -165,724 | -36,983 | 173,045 | -430,917 | -8,673 | -34,754 | -13,214 | 94,773 | -11,397 | 105,581 | -88,180 | 110,600 | -255,599 | -53,105 | -22,885 | 1,042,844 | -8,405 | -15,329 | -191,597 |
Cash flows from financing activities: | ||||||||||||||||||||||||
Distribution to InvenTrust Properties Corp. | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 23,505 | 2,773,486 | 553,167 | 525,877 | 316,164 |
Contribution from InvenTrust Properties Corp. | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 176,805 | 2,338,451 | 500,589 | 489,860 | 450,489 |
Proceeds from mortgage debt and notes payable | ||||||||||||||||||||||||
- | - | - | - | - | 0 | 18,000 | 0 | 65,000 | 0 | 100,000 | 115,000 | 0 | 40,710 | 0 | 0 | 71,258 | 45,095 | 6,139 | 6,024 | 7,465 | 47,716 | 4,376 | 2,506 | 68,342 |
Prepayment penalties and defeasance | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 9,626 | 0 | 0 | -4,813 | 5,267 | 0 | 0 | 0 | - | - | - | - |
Payment of loan fees | ||||||||||||||||||||||||
- | - | - | - | - | 21 | 1,175 | -33 | 3,661 | -34 | 2,335 | -1,509 | 2,415 | 328 | -32 | -45 | 723 | 3,893 | 0 | 0 | 2,926 | 450 | 461 | 0 | 1,172 |
Payments on senior unsecured revolving line of credit | ||||||||||||||||||||||||
- | - | - | - | - | 170,000 | 0 | 0 | 40,000 | 0 | 0 | 80,000 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Payoffs of mortgage debt | ||||||||||||||||||||||||
0 | 14,857 | 0 | 0 | 90,000 | 43,365 | 0 | 210,000 | 18,344 | 0 | 0 | 127,876 | 0 | 129,861 | 97,000 | 22,267 | 27,775 | 219,426 | 0 | 55,153 | 26,315 | 608,229 | 25,017 | 15,441 | 185 |
Principal payments of mortgage debt | ||||||||||||||||||||||||
691 | 1,003 | 902 | 897 | 804 | 971 | 1,077 | 1,160 | 693 | 3,858 | 732 | 564 | 642 | 3,203 | 870 | 2,633 | 874 | 1,532 | 2,134 | 2,337 | 2,236 | 1,927 | 3,107 | 3,657 | 3,376 |
Proceeds from unsecured term loan | ||||||||||||||||||||||||
0 | 0 | 0 | 0 | 85,000 | 65,000 | 0 | 0 | 0 | - | - | - | - | 0 | 0 | 0 | 125,000 | 175,000 | 0 | 0 | 0 | - | - | - | - |
Proceeds from draws on the Senior Unsecured Revolving Credit Facility | ||||||||||||||||||||||||
340,000 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Contributions from non-controlling interests | ||||||||||||||||||||||||
- | - | - | - | - | 0 | 0 | 0 | 79 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 341 | 3,615 | 3,464 | 2,585 | 584 | 526 | 538 | 606 | 374 |
Payments For Redemption Of Partnership Capital Units | ||||||||||||||||||||||||
8,623 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from issuance of preferred shares, net of offering costs | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 102 | 0 | 0 | 0 | 0 |
Repurchase of common shares | ||||||||||||||||||||||||
2,300 | - | - | 0 | 0 | - | - | - | - | -3 | 0 | 2,316 | 1,787 | 7,715 | 5,543 | 11,431 | 49,287 | 0 | 0 | 0 | 36,946 | 0 | 0 | 0 | 0 |
Shares redeemed to satisfy tax withholding on vested share based compensation | ||||||||||||||||||||||||
625 | 2 | 0 | -2 | 598 | 0 | 0 | 0 | 1,021 | 11 | 89 | 1 | 1,760 | 0 | 0 | 51 | 510 | - | - | - | - | - | - | - | - |
Dividends | ||||||||||||||||||||||||
31,608 | 31,571 | 31,198 | 31,758 | 31,338 | 31,248 | 31,074 | 29,674 | 29,737 | 29,549 | 29,586 | 29,453 | 29,854 | 29,859 | 29,786 | 29,801 | 25,684 | 25,515 | 25,921 | 16,270 | 0 | - | - | - | - |
Distributions paid to non-controlling interests | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 495 | -64 | -82 | -33 | 0 | 0 | 0 | 0 | - | - | - | - |
Payments for contingent consideration | ||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -5,959 | 2,568 | -4,500 |
Net cash provided by (used in) financing activities | ||||||||||||||||||||||||
296,189 | 112,562 | -32,513 | -32,653 | -37,740 | -23,712 | -418 | -120,681 | -28,377 | 6,381 | 192,094 | -43,896 | -36,458 | -135,206 | -133,231 | -66,220 | 91,713 | -148,923 | 98,407 | -65,159 | 93,028 | -997,399 | -82,208 | -49,435 | 193,808 |
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||||||||||||||||||||
281,399 | -6,021 | 13,454 | 43,267 | -17,362 | 13,582 | -99,783 | -70,024 | 187,429 | -382,914 | 244,475 | -2,727 | -15,457 | 16,134 | -84,759 | 118,479 | 37,422 | 13,025 | -97,870 | -40,832 | 75,079 | 36,528 | -19,195 | 18,380 | 38,171 |
Supplemental disclosure of cash flow information: | ||||||||||||||||||||||||
Cash paid for taxes | ||||||||||||||||||||||||
2,203 | - | - | - | 1,478 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash paid for interest, net of capitalized interest | ||||||||||||||||||||||||
11,770 | - | - | - | 11,602 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Supplemental schedule of non-cash investing activities: | ||||||||||||||||||||||||
Accrued capital expenditures | ||||||||||||||||||||||||
2,655 | - | - | - | 1,574 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Adjustment to record right of use asset and lease liability, net | ||||||||||||||||||||||||
0 | - | - | - | 28,072 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |