Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES    
Net income $ 30,673 $ 25,014
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,178 43,757
Amortization of debt issuance costs 1,414 1,219
Amortization of debt discount and premium, net (708) (744)
Gain on sale of self storage properties (2,814) (391)
Equity-based compensation expense 2,220 1,786
Equity in losses (earnings) of unconsolidated real estate ventures 3,748 (48)
Distributions from unconsolidated real estate ventures 7,065 2,806
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets 119 (916)
Accounts payable and accrued liabilities 2,893 1,863
Deferred revenue (1,313) (61)
Net Cash Provided by Operating Activities 93,475 74,285
INVESTING ACTIVITIES    
Acquisition of self storage properties (307,791) (162,322)
Capital expenditures (10,443) (10,126)
Investments in and advances to unconsolidated real estate ventures 0 (2,390)
Distributions from unconsolidated real estate ventures 1,017 0
Deposits and advances for self storage property and other acquisitions 175 18,286
Expenditures for corporate furniture, equipment and other (416) (81)
Acquisition of interest in reinsurance company and related cash flows 6,600 0
Proceeds from sale of self storage properties 6,335 5,259
Net Cash Used In Investing Activities (318,073) (187,946)
FINANCING ACTIVITIES    
Proceeds from issuance of common shares 70,637 0
Proceeds from issuance of preferred shares 43,624 0
Borrowings under debt financings 499,000 438,500
Receipts for OP unit subscriptions 318 606
Principal payments under debt financings (306,538) (252,417)
Payment of dividends to common shareholders (35,980) (28,754)
Distributions to preferred shareholders (5,845) (5,175)
Distributions to noncontrolling interests (36,080) (29,918)
Debt issuance costs (987) (1,829)
Equity offering costs (161) (231)
Net Cash Provided By Financing Activities 227,988 120,782
Increase in Cash, Cash Equivalents and Restricted Cash 3,390 7,121
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 16,363 16,407
End of period 19,753 23,528
Supplemental Cash Flow Information    
Cash paid for interest 25,999 18,981
Operating lease right-of-use assets on balance sheet due to implementation of leases standard 22,971 0
Operating lease liabilities on balance sheet due to implementation of leases standard $ 24,152 $ 0