Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income $ 54,961 $ 47,187
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,347 77,776
Amortization of debt issuance costs 2,291 2,150
Amortization of debt discount and premium, net (894) (1,067)
Gain on sale of self storage properties 0 (2,814)
Mark-to-market changes in value on equity securities 142 0
Equity-based compensation expense 3,108 3,373
Equity in losses of unconsolidated real estate ventures 251 4,962
Distributions from unconsolidated real estate ventures 10,628 10,700
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (1,555) (1,273)
Accounts payable and accrued liabilities 12,008 10,734
Deferred revenue (642) (1,647)
Net Cash Provided by Operating Activities 167,645 150,081
INVESTING ACTIVITIES    
Acquisition of self storage properties (259,003) (342,175)
Capital expenditures (13,018) (15,926)
Investments in and advances to unconsolidated real estate ventures (3,125) 0
Distributions from unconsolidated real estate ventures 0 1,017
Deposits and advances for self storage property and other acquisitions (550) 0
Proceeds from sale of equity securities 7,560 0
Expenditures for corporate furniture, equipment and other (362) (7,022)
Acquisition of interest in reinsurance company and related cash flows 0 (6,600)
Proceeds from sale of self storage properties 0 6,335
Net Cash Used In Investing Activities (268,498) (364,371)
FINANCING ACTIVITIES    
Proceeds from issuance of common shares 22,033 70,637
Proceeds from issuance of preferred shares 0 43,624
Borrowings under debt financings 415,500 822,000
Receipts for OP unit subscriptions 661 629
Principal payments under debt financings (208,607) (560,316)
Payment of dividends to common shareholders (65,882) (54,961)
Distributions to preferred shareholders (9,822) (9,117)
Distributions to noncontrolling interests (54,291) (55,768)
Debt issuance costs (865) (8,416)
Equity offering costs (885) (179)
Net Cash Provided By Financing Activities 97,842 248,133
(Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (3,011) 33,843
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 24,276 16,363
End of period 21,265 50,206
Supplemental Cash Flow and Noncash Information    
Cash paid for interest 46,705 39,848
Operating lease right-of-use assets on balance sheet due to implementation of leases standard 23,354 23,507
Operating lease liabilities on balance sheet due to implementation of leases standard 24,929 24,777
Redemptions and conversions of partnership interests 33,583 0
Issuance of common shares for management platform $ 10,301 $ 0