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
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 25,014 $ 22,757
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43,757 36,483
Amortization of debt issuance costs 1,219 1,059
Amortization of debt discount and premium, net (744) (791)
Gain on sale of self storage properties (391) (5,637)
Equity-based compensation expense 1,786 1,923
Equity in (earnings) losses of unconsolidated real estate venture (48) 1,550
Distributions from unconsolidated real estate venture 2,806 2,417
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (916) (3,312)
Accounts payable and accrued liabilities 1,863 (649)
Deferred revenue (61) (256)
Net Cash Provided by Operating Activities 74,285 55,544
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (162,322) (86,945)
Capital expenditures (10,126) (7,085)
Investments in and advances to unconsolidated real estate venture (2,390) (12,647)
Distributions from unconsolidated real estate venture 0 250
Deposits and advances for self storage property and other acquisitions (18,286) (565)
Expenditures for corporate furniture, equipment and other (81) (157)
Proceeds from sale of self storage properties 5,259 15,342
Net Cash Used In Investing Activities (187,946) (91,807)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of subordinated performance units 0 7,000
Borrowings under debt financings 438,500 310,500
Receipts for OP unit subscriptions 606 567
Principal payments under debt financings (252,417) (218,762)
Payment of dividends to common shareholders (28,754) (22,073)
Distributions to preferred shareholders (5,175) 0
Distributions to noncontrolling interests (29,918) (26,866)
Debt issuance costs (1,829) (1,346)
Equity offering costs (231) (549)
Net Cash Provided By Financing Activities 120,782 48,471
Increase in Cash, Cash Equivalents and Restricted Cash 7,121 12,208
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 16,407 15,337
End of period 23,528 27,545
Supplemental Cash Flow Information    
Cash paid for interest $ 18,981 $ 15,061