Component: (Network and Table)
Network
00500 - Statement - Consolidated Statements of Cash Flows
(http://www.franklinstreetproperties.com/role/StatementConsolidatedStatementsOfCashFlows)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001031316 (http://www.sec.gov/CIK)
Condensed Consolidated Statements of Cash FlowsPeriod [Axis]
2016-01-01 - 2016-12-31
2015-01-01 - 2015-12-31
2014-01-01 - 2014-12-31
Condensed Consolidated Statements of Cash Flows
 
 
 
Cash flows from operating activities:
 
 
 
Net income
8,378,000  
35,014,000  
13,148,000  
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization expense
95,243,000  
93,426,000  
97,916,000  
Amortization of above market lease
(496,000) 
(158,000) 
635,000  
Hedge ineffectiveness
(1,878,000) 
  
Gain (loss) on sale of properties and property held for sale, less applicable income tax
2,938,000  
(23,662,000) 
(940,000) 
Equity in losses of non-consolidated REITs
831,000  
1,451,000  
1,760,000  
Increase (decrease) in allowance for doubtful accounts
(30,000) 
(195,000) 
275,000  
Changes in operating assets and liabilities:
 
 
 
Restricted cash
(8,000) 
719,000  
(99,000) 
Tenant rent receivables
(185,000) 
2,030,000  
94,000  
Straight-line rents
(1,977,000) 
(2,448,000) 
(4,737,000) 
Lease acquisition costs
(1,095,000) 
(1,487,000) 
(440,000) 
Prepaid expenses and other assets
(721,000) 
422,000  
700,000  
Accounts payable, accrued expenses and other items
5,751,000  
5,505,000  
206,000  
Accrued compensation
58,000  
(32,000) 
773,000  
Tenant security deposits
526,000  
581,000  
222,000  
Payment of deferred leasing commissions
(12,965,000) 
(8,276,000) 
(6,347,000) 
Net cash provided by operating activities
94,370,000  
 
102,890,000  
 
103,166,000  
 
Cash flows from investing activities:
 
 
 
Property acquisitions
(221,119,000) 
(66,104,000) 
 
Property improvements, fixtures and equipment
(37,407,000) 
(21,750,000) 
(18,370,000) 
Office computers and furniture
(83,000) 
(179,000) 
(191,000) 
Acquired real estate leases
(51,509,000) 
(10,604,000) 
 
Distributions in excess of earnings from non-consolidated REITs
1,023,000  
107,000  
107,000  
Investment in related party mortgage loan receivable
(3,000,000) 
(25,000,000) 
(11,170,000) 
Repayment of related party mortgage loan receivable
39,861,000  
 
17,275,000  
Proceeds received on sales of real estate assets
27,262,000  
85,426,000  
14,192,000  
Net cash used in investing activities
(244,972,000) 
 
(38,104,000) 
 
1,843,000  
 
Cash flows from financing activities:
 
 
 
Distributions to stockholders
(77,481,000) 
(76,142,000) 
(76,142,000) 
Proceeds from equity offering
83,511,000  
  
Offering costs
(609,000) 
  
Borrowings under bank note payable
175,000,000  
110,000,000  
15,000,000  
Repayments of bank note payable
(185,000,000) 
(88,000,000) 
(53,500,000) 
Borrowing of term loan payable
150,000,000  
  
Deferred financing costs
(3,647,000) 
 
(2,471,000) 
Net cash provided by (used in) financing activities
141,774,000  
 
(54,142,000) 
 
(117,113,000) 
 
Net increase (decrease) in cash and cash equivalents
(8,828,000) 
 
10,644,000  
 
(12,104,000) 
 
Cash and cash equivalents, beginning of year
18,163,000  
7,519,000  
19,623,000  
Cash and cash equivalents, end of period
9,335,000  
 
18,163,000  
 
7,519,000  
 
Supplemental disclosure of cash flow information:
 
 
 
Cash paid for:
 
 
 
Interest
23,896,000  
22,963,000  
25,623,000  
Taxes on income
490,000  
803,000  
668,000  
Non-cash investing and financing activities:
 
 
 
Accrued costs for purchase of real estate assets
5,230,000  
3,211,000  
1,788,000