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)
$ in Thousands
9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
OPERATING ACTIVITIES    
Net income $ 47,187 $ 41,843
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77,776 66,226
Amortization of debt issuance costs 2,150 1,883
Amortization of debt discount and premium, net (1,067) (1,110)
Gain on sale of self storage properties (2,814) (391)
Equity-based compensation expense 3,373 2,808
Equity in losses (earnings) of unconsolidated real estate ventures 4,962 (290)
Distributions from unconsolidated real estate ventures 10,700 4,256
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (1,273) (3,456)
Accounts payable and accrued liabilities 10,734 10,369
Deferred revenue (1,647) 1,525
Net Cash Provided by Operating Activities 150,081 123,663
INVESTING ACTIVITIES    
Acquisition of self storage properties (342,175) (264,367)
Capital expenditures (15,926) (14,476)
Investments in and advances to unconsolidated real estate ventures 0 (165,642)
Distributions from unconsolidated real estate ventures 1,017 0
Deposits and advances for self storage property and other acquisitions 0 (21,174)
Expenditures for corporate furniture, equipment and other (7,022) (136)
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 (364,371) (460,536)
FINANCING ACTIVITIES    
Proceeds from issuance of common shares 70,637 175,691
Proceeds from issuance of preferred shares 43,624 0
Borrowings under debt financings 822,000 652,500
Receipts for OP unit subscriptions 629 606
Principal payments under debt financings (560,316) (386,995)
Payment of dividends to common shareholders (54,961) (45,156)
Distributions to preferred shareholders (9,117) (7,763)
Distributions to noncontrolling interests (55,768) (46,487)
Debt issuance costs (8,416) (1,863)
Equity offering costs (179) (318)
Net Cash Provided By Financing Activities 248,133 340,215
Increase in Cash, Cash Equivalents and Restricted Cash 33,843 3,342
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 16,363 16,407
End of period 50,206 19,749
Supplemental Cash Flow Information    
Cash paid for interest 39,848 $ 29,402
Operating lease right-of-use assets on balance sheet due to implementation of leases standard 23,507  
Operating lease liabilities on balance sheet due to implementation of leases standard $ 24,777