PKST · As filed with the SEC
Peakstone Realty Trust cash flow statement, by fiscal year
The statement as Peakstone Realty 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 loss | (332,633) | (11,363) | (605,102) | (441,382) | 11,570 | (5,774) | 37,044 | (3,287) |
| Net loss (income) from discontinued operations | 272,610 | — | — | — | — | — | — | — |
| Net loss from continuing operations | (60,023) | — | — | — | — | — | — | — |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||
| Depreciation of building and building improvements | 36,292 | 64,191 | 72,273 | 113,191 | 125,388 | 93,980 | 80,394 | 20,466 |
| Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs | — | — | — | — | — | 67,076 | 73,031 | 24,199 |
| Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs | — | — | — | 79,049 | 85,502 | — | — | — |
| Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs | — | — | 41,425 | — | — | — | — | — |
| Amortization of leasing costs and in-place lease intangible assets | 15,884 | 32,289 | — | — | — | — | — | — |
| Amortization of above- and (below-) market leases, net | (9,407) | (2,232) | (1,239) | (2,205) | (1,323) | (2,292) | (3,201) | (4,695) |
| Amortization of deferred financing costs and debt premium | 4,476 | 4,861 | 4,049 | 5,724 | 3,593 | 2,607 | 5,562 | 1,384 |
| Deferred rent | — | — | — | — | — | — | — | (8,456) |
| Amortization of swap interest | — | — | — | — | — | 126 | 126 | — |
| Amortization of swap interest | — | — | 126 | 126 | 126 | — | — | — |
| Deferred rent | — | — | (6,229) | (13,350) | (8,718) | (25,687) | (19,519) | — |
| Deferred rent, ground lease | — | — | — | 0 | 0 | 2,065 | 1,640 | — |
| Termination fee revenue - receivable from tenant, net | — | — | — | — | — | 0 | (6,000) | — |
| Termination fee revenue - receivable from tenant, net | — | — | — | — | 0 | — | — | — |
| Write-off reserves | — | — | 0 | 0 | (1,166) | — | — | — |
| (Gain)/loss from sale of depreciable operating property | — | — | — | 139,280 | 326 | (4,083) | (29,940) | — |
| Gain on fair value of earn-out | — | — | — | — | — | (2,657) | (1,461) | — |
| Unrealized loss on interest rate swap | — | — | — | — | — | 0 | 0 | 77 |
| Performance distribution allocation (non-cash) | — | — | — | — | — | — | — | 3,904 |
| (Gain)/Loss from sale of depreciable operating properties | — | — | (29,164) | — | — | — | — | — |
| Gain on fair value of earn-out | — | — | 0 | 0 | (65) | — | — | — |
| Loss (income) from investment in unconsolidated entities | — | — | — | 10,979 | (8) | 2,071 | 5,307 | — |
| Investment in unconsolidated entities valuation adjustment | — | — | — | 0 | 0 | 4,453 | — | — |
| Loss (income) from investment in unconsolidated entities | — | — | 176,767 | — | — | — | — | — |
| Amortization of swap interest | 126 | 128 | — | — | — | — | — | — |
| Loss (gain) on extinguishment of debt | 2,482 | (10,466) | — | — | — | — | — | — |
| Deferred rent | (4,511) | (2,521) | — | — | — | — | — | — |
| Net gain from disposition of assets | (6,407) | (38,368) | — | — | — | — | — | — |
| Loss from investment in unconsolidated entities | — | 0 | — | — | — | — | — | — |
| Loss from investment in unconsolidated entities | 0 | — | — | — | — | — | — | — |
| (Gain) loss from investments | (114) | (377) | 18 | 194 | 125 | 31 | 307 | — |
| Impairment provision - real estate assets | — | — | — | 127,577 | 4,242 | 23,472 | 30,734 | — |
| Performance distribution allocation (non-cash) | — | — | — | — | 0 | 0 | (2,604) | — |
| Real estate impairment provision | 18,195 | 53,313 | 409,512 | — | — | — | — | — |
| Goodwill impairment provision | 0 | 10,274 | 16,031 | 135,270 | — | — | — | — |
| Share-based compensation | 6,380 | 7,896 | 12,041 | 9,574 | 7,469 | 4,107 | 2,623 | 44 |
| Other income - proration adjustments for dispositions | — | — | (1,587) | — | — | — | — | — |
| Discount amortization - note receivable | (59) | (655) | — | — | — | — | — | — |
| Other income – proration adjustments for dispositions | 0 | 0 | — | — | — | — | — | — |
| Change in operating assets and liabilities: | ||||||||
| Deferred leasing costs and other assets | — | — | — | 1,002 | (13,938) | 4,383 | (7,775) | 1,397 |
| Deferred leasing costs and other assets | — | — | (5,282) | — | — | — | — | — |
| Restricted reserves | — | — | 0 | 0 | (490) | 27 | 14 | — |
| Deferred leasing costs and other assets | 6,313 | 349 | — | — | — | — | — | — |
| Accrued expenses and other liabilities | (8,888) | (12,664) | 6,233 | (11,664) | (8,003) | 4,203 | (9,505) | 3,376 |
| Due to affiliates, net | 0 | — | (720) | (689) | 349 | (3,570) | 4,072 | 2,546 |
| Net cash (used in) provided by operating activities - continuing operations | 739 | — | — | — | — | — | — | — |
| Net cash provided by operating activities - discontinued operations | 67,982 | — | — | — | — | — | — | — |
| Net cash provided by operating activities | 68,721 | 94,655 | 89,152 | 152,676 | 204,979 | 164,538 | 160,849 | 40,955 |
| Investing Activities: | ||||||||
| Cash acquired in connection with the Company Merger, net of acquisition costs | — | — | — | — | (36,746) | 0 | 25,320 | — |
| Cash acquired in connection with the CCIT II Merger, net of acquisition costs | — | — | — | 0 | — | — | — | — |
| Acquisition of properties, net | — | — | — | 0 | 0 | (16,584) | (38,775) | 0 |
| Restricted reserves | — | — | — | — | — | — | — | (1,803) |
| Cash acquired in connection with the CCIT II Merger, net of acquisition costs | — | — | 0 | — | — | — | — | — |
| Acquisition of properties, net | (95,379) | (493,496) | — | — | — | — | — | — |
| Proceeds from disposition of properties | 228,497 | 281,528 | 325,160 | 1,120,803 | 22,408 | 51,692 | 139,446 | — |
| Real estate acquisition deposits | — | — | — | — | — | 1,047 | (1,047) | — |
| Reserves for tenant improvements | — | — | — | — | — | — | 1,039 | — |
| Improvements to real estate | — | — | — | — | — | — | 0 | 0 |
| Restricted reserves | — | — | — | (266) | 1,078 | — | — | — |
| Real estate acquisition deposits | — | — | — | 0 | 0 | — | — | — |
| Reserves for tenant improvements | — | — | — | — | 0 | (1,530) | — | — |
| Restricted reserves | — | — | 0 | — | — | — | — | — |
| Restricted reserves | — | 0 | — | — | — | — | — | — |
| Payments for construction in progress | (6,908) | (3,871) | (16,323) | (17,494) | (49,260) | (58,938) | (46,346) | (502) |
| Real estate acquisition deposits | — | — | — | — | — | — | — | 0 |
| Investment in unconsolidated joint venture | — | — | — | 0 | 0 | (8,160) | 0 | — |
| Distributions of capital from investment in unconsolidated entities | — | — | — | — | 42 | 8,531 | 14,603 | — |
| Distributions of capital from investment in unconsolidated entities | — | — | — | — | — | — | (8,422) | — |
| Distributions of capital from investment in unconsolidated entities | — | — | 0 | 0 | — | — | — | — |
| Sale of investment in unconsolidated entities | — | 0 | 0 | 31,000 | — | — | — | — |
| Purchase of investment in unconsolidated entities | — | 0 | 0 | (34,558) | — | — | — | — |
| Purchase of investments | 0 | 0 | (282) | (1,142) | (332) | (1,029) | — | — |
| Proceeds from repayment of note receivable | 15,000 | — | — | — | — | — | — | — |
| Net cash provided by (used in) investing activities - continuing operations | 141,210 | — | — | — | — | — | — | — |
| Net cash provided by (used in) investing activities - discontinued operations | 692,885 | — | — | — | — | — | — | — |
| Net cash provided by (used in) investing activities | 834,095 | (215,839) | 308,555 | 1,098,343 | (62,810) | (24,971) | 85,818 | (2,305) |
| Financing Activities: | ||||||||
| Proceeds from borrowings - BOA Loan | — | — | — | — | — | — | 0 | — |
| Proceeds from borrowings - Term Loan | — | — | — | — | — | — | 627,000 | — |
| Proceeds from borrowings - KeyBank Loans | — | — | — | — | 0 | 0 | — | — |
| Proceeds from borrowings - Credit Facility | — | 280,000 | 400,000 | 0 | 0 | 215,000 | 315,854 | 0 |
| Proceeds from borrowings - Revolver Loan - EA-1 | — | — | — | — | — | 0 | 0 | — |
| Proceeds from borrowings - Term Loan | — | 175,000 | 0 | 0 | 400,000 | — | — | — |
| Principal payoff of indebtedness - CCIT II Credit Facility | — | — | 0 | 0 | (415,500) | — | — | — |
| Proceeds from borrowings - Mortgage debt | — | 110,326 | — | — | — | — | — | — |
| Proceeds from borrowings - Credit facility | 0 | — | — | — | — | — | — | — |
| Proceeds from borrowings - Term loan | 0 | — | — | — | — | — | — | 113,000 |
| Proceeds from borrowings - Mortgage debt | 0 | — | — | — | — | — | — | 250,000 |
| Principal pay down of indebtedness - Credit facility | (465,000) | — | — | — | — | — | — | — |
| Principal payoff of indebtedness - Term loan | (250,000) | (190,000) | (400,000) | (200,000) | 0 | 0 | (715,000) | — |
| Partial principal payoff of TW Telecom loan | — | — | — | — | — | — | 0 | — |
| Principal amortization payments on secured indebtedness | — | — | — | — | — | (7,362) | (6,577) | — |
| Principal amortization payments on secured indebtedness | — | — | — | (8,736) | (9,786) | — | — | — |
| Principal amortization payments on secured indebtedness | — | — | (6,973) | — | — | — | — | — |
| Principal payoff of secured indebtedness - Mortgage debt | (159,390) | (225,228) | (41,283) | (469,777) | (1,292) | 0 | 0 | — |
| Principal pay down of indebtedness - Revolving Credit Facility | — | — | 0 | (373,500) | 0 | (53,000) | (104,439) | (357,673) |
| Principal pay down of indebtedness - Credit Facility | — | (215,000) | — | — | — | — | — | — |
| Principal amortization payments on secured indebtedness | 0 | (5,655) | — | — | — | — | — | — |
| Deferred financing costs | — | (17,286) | (3,530) | (2,724) | (567) | (4,725) | (5,737) | — |
| Payment for debt extinguishment | (3,362) | — | — | — | — | — | — | — |
| Deferred financing costs | 0 | — | — | — | — | — | (2,384) | (6,603) |
| Offering costs | (37) | (143) | — | — | — | — | — | — |
| Redemption of preferred units | 0 | 0 | (125,000) | — | — | — | — | — |
| Offering costs | — | — | (796) | (43) | (47) | (594) | 0 | (4,778) |
| Issuance of perpetual convertible preferred shares | — | — | — | — | — | 0 | 0 | — |
| Repurchase of common shares to satisfy employee tax withholding requirements | (1,204) | (1,329) | (2,625) | (3,189) | (2,874) | (751) | — | — |
| Repurchase of common shares | 0 | 0 | (4,443) | (5,617) | (25,517) | (107,821) | (200,013) | (23,766) |
| Repurchase of noncontrolling interest | — | — | — | 0 | 0 | (1,137) | — | — |
| Issuance of common shares, net of discounts and underwriting costs | — | — | — | 0 | 0 | 4,698 | 8,826 | 7,465 |
| Repurchase of noncontrolling interest | (42) | (2,892) | (3,974) | (11,136) | (11,134) | (13,290) | (53) | — |
| Distributions to noncontrolling interests | (2,300) | — | — | — | — | — | — | — |
| Dividends to common shareholders | (28,903) | (33,077) | (40,807) | (114,110) | (82,976) | (72,143) | (90,116) | (20,753) |
| Distributions paid to preferred units subject to redemption | 0 | 0 | (4,891) | (10,063) | (9,542) | (8,396) | (8,188) | — |
| Distributions to noncontrolling interests | — | — | — | — | — | — | (16,865) | (65) |
| Financing lease payment | (348) | (332) | (319) | (320) | (100) | — | — | — |
| Net cash used in financing activities | (910,586) | (125,616) | (234,641) | (1,199,215) | (159,335) | (49,521) | (197,692) | (43,173) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (7,770) | (246,800) | 163,066 | 51,804 | (17,166) | 90,046 | 48,975 | (4,523) |
| Cash, cash equivalents and restricted cash at the beginning of the period | 154,210 | 401,010 | 237,944 | 186,140 | 203,306 | 113,260 | 64,285 | 46,050 |
| Cash, cash equivalents and restricted cash at the end of the period | — | 154,210 | 401,010 | 237,944 | 186,140 | 203,306 | 113,260 | 41,527 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 154,210 | 401,010 | — | — | — | — | — | — |
| Cash, cash equivalents and restricted cash at the end of the period | 146,440 | — | — | — | — | — | — | — |
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid for interest | 63,087 | 58,898 | 58,154 | 75,122 | 80,958 | 80,155 | 65,040 | 19,200 |
| (Decrease) Increase in fair value swap agreement | — | — | — | — | — | — | — | (952) |
| Increase in Stock Servicing Fee Payable | — | — | — | — | — | — | — | 174 |
| Supplemental disclosures of non-cash investing and financing transactions: | ||||||||
| Goodwill -Self Administration Transaction | — | — | — | — | — | 0 | 0 | — |
| Affiliates - receivables and other related party assets acquired in Self Administration Transaction | — | — | — | — | — | 0 | 0 | — |
| Distributions payable to common shareholders | — | — | — | 9,678 | 9,672 | 6,864 | 3,293 | 1,955 |
| Common stock issued pursuant to the distribution reinvestment plan | — | — | — | — | — | — | — | 19,998 |
| Distributions payable to noncontrolling interests | — | — | — | 946 | 946 | 943 | 1,355 | — |
| Dividends payable to common shareholders | — | — | 8,193 | — | — | — | — | — |
| Distributions payable to noncontrolling interests | — | — | 724 | — | — | — | — | — |
| Common shares issued pursuant to the distribution reinvestment plan | — | — | 0 | 0 | 22,886 | 24,497 | 41,060 | — |
| Common stock redemptions funded subsequent to period-end | — | — | — | — | — | (5,345) | 96,648 | — |
| Common share redemptions funded subsequent to period-end | — | — | — | 4,383 | 0 | — | — | — |
| Issuance of share dividends | — | — | — | 0 | 0 | 5,747 | 14,139 | — |
| Mortgage debt assumed in conjunction with the acquisition of real estate assets plus a premium | — | — | — | 0 | 0 | 18,884 | — | — |
| Common share redemptions funded subsequent to period-end | — | — | 0 | — | — | — | — | — |
| Exchange of noncontrolling interest to common stock | — | — | 27,169 | — | — | — | — | — |
| Dividends payable to common shareholders | 3,755 | 8,331 | — | — | — | — | — | — |
| Distributions payable to noncontrolling interests | 722 | 672 | — | — | — | — | — | — |
| Common share redemptions funded subsequent to period-end | — | 0 | — | — | — | — | — | — |
| Operating lease right-of-use assets obtained in exchange for lease liabilities | 1,162 | 0 | 0 | — | — | — | 16,919 | — |
| Distributions to redeemable noncontrolling interests attributable to common stockholders as reflected on the consolidated statements of operations | — | — | — | — | — | 0 | 0 | — |
| Accounting Standards Update 2016-02 | — | — | — | 1,358 | — | — | — | — |
| Net assets acquired in CCIT II Merger in exchange for common shares | — | — | 0 | 0 | 838,315 | 0 | 751,277 | — |
| Implied common stock and operating partnership units issued in exchange for net assets acquired in Mergers | — | — | — | — | 838,315 | 0 | 751,277 | — |
| Capitalized transaction costs paid in prior period | — | — | 0 | 0 | 2,170 | — | — | — |
| Contribution in Unconsolidated Joint Venture | — | — | 1,960 | — | — | — | — | — |
| Note Payable in Unconsolidated Joint Venture | — | — | (1,960) | — | — | — | — | — |
| Exchange of noncontrolling interest to common stock | 5,273 | 20,153 | — | — | — | — | — | — |
| Accrued for construction in progress | 810 | 0 | 1,183 | 35 | 1,114 | 472 | — | — |
| Limited partnership units issued in exchange for net assets acquired in Self Administration Transaction | — | — | — | — | — | 0 | 25,000 | — |
| Due to affiliates- Self Administration Transaction | — | — | — | — | — | 0 | 0 | — |
| Other liabilities assumed in Self Administration Transaction | — | — | — | — | — | 0 | 0 | — |
| Limited partnership units issued in exchange for net assets acquired in Self Administration Transaction | — | — | — | — | 0 | — | — | — |
| Accrued tenant obligations and other | 5,812 | 7,802 | — | — | — | — | — | — |
| Decrease in fair value swap agreement | (18,292) | (10,840) | (14,335) | 63,182 | 32,449 | (29,704) | (22,303) | — |
| Decrease in shareholder servicing fee payable | — | — | — | (92) | 0 | (1,388) | — | — |
| Decrease in stockholder servicing fee payable | — | — | 0 | — | — | — | — | — |
| Decrease in stockholder servicing fee payable | — | 0 | — | — | — | — | — | — |
| Note receivable, net | 60 | (14,286) | — | — | — | — | — | — |
| Note payable in unconsolidated joint venture | 0 | (4,696) | — | — | — | — | — | — |
| Contribution in unconsolidated joint venture | 0 | 4,696 | — | — | — | — | — | — |
| Capitalized transaction costs accrued | 280 | 654 | — | — | — | — | — | — |
| Accrued payments for debt extinguishment | 1,062 | — | — | — | — | — | — | — |
| Accrued repurchase of common shares to satisfy employee tax withholding requirements | 1,297 | — | — | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.