Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 18,791 $ (569)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 38,299 30,192
Amortization of debt issuance costs 1,493 2,121
Amortization of debt discount and premium, net (1,557) (1,260)
Loss on debt extinguishment 136 414
Unrealized loss on fair value of derivatives 0 68
LTIP units issued for acquisition expenses 56 1,020
Equity-based compensation expense 1,913 2,375
Change in assets and liabilities, net of effects of business combinations:    
Restricted cash (1,377) (864)
Other assets (681) (714)
Accounts payable and accrued liabilities 9,993 4,861
Deferred revenue (133) (88)
Net Cash Provided by Operating Activities 66,933 37,556
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (323,822) (132,196)
Capital expenditures (8,478) (2,985)
Investments in and advances to unconsolidated joint venture (4,873) 0
Deposits and advances for self storage property and other acquisitions (5,415) (3,258)
Expenditures for corporate furniture, equipment and other (472) (291)
Change in restricted cash designated for capital expenditures (40) 219
Net Cash Used In Investing Activities (343,100) (138,511)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares 238,712 278,070
Borrowings under debt financings 498,500 173,943
Receipts for OP unit subscriptions 799 1,011
Collection of receivables from issuance of OP equity 570 774
Principal payments under debt financings (401,204) (324,247)
Payment of dividends to common shareholders (17,593) (3,453)
Distributions to noncontrolling interests (33,392) (20,112)
Change in restricted cash for financing activity 0 (167)
Debt issuance costs (4,904) (1,717)
Equity offering costs (512) (5,370)
Net Cash Provided by Financing Activities 280,976 98,732
Increase (Decrease) in Cash and Cash Equivalents 4,809 (2,223)
CASH AND CASH EQUIVALENTS    
Beginning of period 6,665 9,009
End of period 11,474 6,786
Supplemental Cash Flow Information    
Cash paid for interest 16,501 15,719
Consideration exchanged in business combinations:    
Issuance of OP units and subordinated performance units 104,298 42,113
Deposits on acquisitions applied to purchase price 631 745
LTIP units vesting upon acquisition of properties 597 0
Assumption of mortgages payable 61,628 49,855
Note payable to related party to settle assumed mortgages 0 5,342
Other net liabilities assumed 2,692 870
Notes receivable settled upon acquisition of properties 0 1,778
Fair value of noncontrolling interests in acquired subsidiaries 0 15,097
Increase in OP unit subscription liability through reduced distributions 267 293
Settlement of acquisition receivables through reduced distributions 390 1,137
Increase (decrease) in payables for deferred offering costs 806 (1,342)
Settlement of offering costs from equity issuance proceeds $ 11,248 $ 20,930