NSA · As filed with the SEC
National Storage Affiliates Trust cash flow statement, by fiscal year
The statement as National Storage Affiliates Trust presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD thousands
| USD thousands | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| OPERATING ACTIVITIES | ||||||||
| Net income | 116,274 | 183,270 | 236,988 | 183,765 | 146,935 | 79,478 | 66,013 | 56,326 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | — | — | — | — | — | — | — | 89,147 |
| Depreciation and amortization | 189,320 | 189,855 | 221,993 | 233,158 | 158,312 | 117,174 | 105,119 | — |
| Amortization of debt issuance costs | 6,352 | 6,487 | 6,535 | 4,423 | 3,438 | 3,088 | 2,913 | 2,569 |
| Amortization of debt discount and premium, net | (470) | (610) | (561) | (698) | (708) | (1,075) | (1,427) | (1,469) |
| Loss on debt extinguishment | — | — | — | — | — | — | — | 0 |
| Gain on sale of self storage properties | (16,293) | (63,841) | (63,910) | (5,466) | 0 | 0 | (2,814) | (391) |
| LTIP units issued for acquisition expenses | — | — | — | — | — | — | — | 0 |
| Other | 0 | 323 | 969 | 992 | — | — | — | — |
| Mark-to-market changes in value on equity securities | — | — | — | 0 | 0 | 142 | (610) | — |
| Equity-based compensation expense | 12,194 | 8,310 | 6,679 | 6,258 | 5,462 | 4,278 | 4,527 | 3,837 |
| Equity in losses (earnings) of unconsolidated real estate ventures | 7,327 | 16,075 | (7,553) | (7,745) | (5,294) | (265) | 4,970 | 1,423 |
| Distributions from unconsolidated real estate ventures | 20,256 | 23,307 | 23,635 | 23,535 | 19,640 | 14,634 | 14,551 | 8,187 |
| Change in assets and liabilities, net of effects of self storage property acquisitions: | ||||||||
| Other assets | 7,625 | 2,141 | 1,226 | (10,206) | (3,159) | (3,440) | 110 | (5,713) |
| Accounts payable and accrued liabilities | (3,909) | 5,321 | 12,228 | 16,519 | 8,404 | 7,445 | 5,617 | 6,597 |
| Deferred revenue | — | — | — | — | — | — | — | 1,283 |
| Deferred revenue | (175) | (7,573) | 3,347 | (688) | (1,681) | (805) | (2,318) | — |
| Net Cash Provided by Operating Activities | 338,501 | 363,065 | 441,576 | 443,847 | 331,349 | 220,654 | 196,651 | 161,796 |
| INVESTING ACTIVITIES | ||||||||
| Acquisition of self storage properties | — | — | — | — | — | — | — | (313,712) |
| Acquisition of self storage properties | (23,770) | (64,577) | (48,725) | (496,358) | (1,966,382) | (496,509) | (371,096) | — |
| Capital expenditures | (38,687) | (18,651) | (34,230) | (42,798) | (27,577) | (16,395) | (20,594) | (19,014) |
| Deposits and advances for self storage property and other acquisitions | (172) | (198) | 0 | 0 | (800) | (1,087) | (4,438) | (20,977) |
| Investment in unconsolidated real estate ventures | (12,849) | (74,215) | 0 | (55,044) | 0 | (4,382) | 0 | (165,642) |
| Distributions from unconsolidated real estate ventures | — | — | — | 0 | 0 | 1,494 | 11,543 | 0 |
| Acquisition of property management platform | — | — | — | — | — | — | — | 0 |
| Expenditures for corporate furniture, equipment and other | (561) | (1,923) | (1,318) | (928) | (426) | (364) | (862) | (403) |
| Acquisition of equity securities | — | — | — | — | 0 | 0 | (12,674) | — |
| Proceeds from sale of equity securities | — | — | — | 0 | 0 | 7,560 | 5,356 | — |
| Acquisition of intangible assets from our former PROs | 0 | (32,741) | (16,924) | 0 | (2,865) | 0 | (6,600) | — |
| Other | 0 | 908 | — | — | — | — | — | — |
| Net proceeds from sale of self storage properties | 95,894 | 616,812 | 262,302 | 10,963 | 0 | 0 | 6,335 | 5,259 |
| Net Cash Provided by Investing Activities | 19,855 | 425,415 | 161,105 | (584,165) | (1,998,050) | (509,683) | (393,030) | (514,489) |
| FINANCING ACTIVITIES | ||||||||
| Proceeds from issuance of common shares | — | — | 0 | 0 | 900,980 | 82,917 | 70,637 | 175,616 |
| Proceeds from issuance of preferred shares | — | — | — | — | 0 | 0 | 43,624 | 0 |
| Proceeds from issuance of subordinated performance units | — | — | — | — | — | — | 0 | 0 |
| Borrowings under debt financings | 635,800 | 1,270,000 | 1,318,815 | 1,572,000 | 2,348,500 | 929,500 | 822,000 | 822,500 |
| Receipts for OP unit subscriptions | — | — | 0 | 0 | 103 | 661 | 1,271 | 1,211 |
| Collection of receivables from issuance of OP equity | — | — | — | — | — | — | — | 0 |
| Redemption of OP equity | (7,934) | (9,504) | — | — | — | — | — | — |
| Repurchase of common shares | 0 | (275,195) | (310,152) | (90,109) | — | — | — | — |
| Principal payments under debt financings | (680,384) | (1,479,536) | (1,210,630) | (960,372) | (1,322,169) | (546,147) | (561,628) | (507,239) |
| Payment of dividends to common shareholders | (174,909) | (171,818) | (190,907) | (195,699) | (131,708) | (90,141) | (74,546) | (62,152) |
| Payment of dividends to preferred shareholders | (20,462) | (20,445) | (19,019) | (13,425) | (13,104) | (13,097) | (12,390) | (10,350) |
| Distributions to noncontrolling interests | (134,056) | (134,614) | (141,474) | (141,000) | (102,231) | (73,798) | (76,010) | (63,350) |
| Debt issuance costs | (2,943) | (3,609) | (3,820) | (15,981) | (5,280) | (2,471) | (8,487) | (2,860) |
| Equity offering costs | (583) | (699) | 0 | (772) | (2,216) | (970) | (179) | (727) |
| Net Cash Used in Financing Activities | (385,471) | (825,420) | (557,187) | 154,642 | 1,672,875 | 286,454 | 204,292 | 352,649 |
| (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (27,115) | (36,940) | 45,494 | 14,324 | 6,174 | (2,575) | 7,913 | (44) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||||||||
| Beginning of year | 50,753 | 87,693 | 42,199 | 27,875 | 21,701 | 24,276 | 16,363 | 16,407 |
| End of year | 23,638 | 50,753 | 87,693 | 42,199 | 27,875 | 21,701 | 24,276 | 16,363 |
| Supplemental Cash Flow Information | ||||||||
| Cash paid for interest | 156,296 | 145,414 | 143,622 | 99,433 | 66,918 | 59,346 | 52,666 | 40,475 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | ||||||||
| Issuance of Series A-1 preferred units, OP units, LTIP units, and subordinated performance units | 0 | 0 | 67,266 | 72,116 | 195,101 | 37,233 | 51,826 | 28,063 |
| Issuance of Series B preferred shares | 0 | 0 | 0 | — | — | — | 0 | 0 |
| Deposits on acquisitions applied to purchase price | — | 0 | 113,129 | 800 | 1,087 | 4,438 | 20,977 | 5,050 |
| Assumption of mortgages payable | — | — | — | — | — | 0 | 0 | 7,581 |
| Other net liabilities assumed | 117 | 296 | 185 | 2,890 | 14,232 | 3,626 | 2,403 | 2,167 |
| Redemptions and conversions of partnership interests | — | — | — | 0 | 0 | 33,583 | — | — |
| Issuance of common shares for management platform | — | — | — | 0 | 0 | 10,301 | — | — |
| Issuance of OP unit subscription liability through reduced distributions | — | — | — | 0 | 0 | 987 | 1,253 | 1,236 |
| Settlement of acquisition receivables through reduced distributions | — | — | — | 0 | 0 | 310 | 505 | 642 |
| Change in payables for offering costs | — | — | — | 0 | (361) | 970 | (321) | 626 |
| Settlement of offering expenses from equity issuance proceeds | — | — | — | 0 | 0 | 207 | 1,241 | 575 |
| Issuance of OP units for acquisition of intangible assets from our former PROs | 0 | 62,311 | — | — | — | — | — | — |
| Change in accrued capital spending | (1,071) | 957 | 1,260 | — | — | 0 | 0 | 19 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.