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CONSOLIDATED STATEMENTS OF CASH FLOWS (LP cube) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Operating Activities      
Net loss $ 38,266 $ 43,315  
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 83,514 54,845  
Non-cash portion of interest expense related to finance leases (18) 111  
Equity in earnings of real estate ventures (294) (20)  
Equity compensation expense 2,193 2,042  
Accretion of fair market value adjustment of debt (269) (607)  
Changes in other operating accounts:      
Other assets 4,085 (1,718)  
Accounts payable and accrued expenses 1,911 (1,675)  
Other liabilities 1,347 1,889  
Net cash provided by operating activities 130,735 98,182  
Investing Activities      
Acquisitions of storage properties (39,761)    
Additions and improvements to storage properties (7,755) (7,894)  
Development costs (7,785) (10,932)  
Investment in real estate ventures (5) (6,664)  
Cash distributed from real estate ventures 3,025 4,958  
Proceeds from sale of real estate, net 43,193    
Net cash used in investing activities (9,088) (20,532)  
Proceeds from:      
Revolving credit facility 151,532 268,111  
Principal payments on:      
Revolving credit facility (176,032) (333,111)  
Mortgage loans and notes payable (611) (44,649)  
Cash paid upon vesting of restricted OP units (1,038) (728)  
Distributions paid to noncontrolling interests in subsidiaries (2,033) (69)  
Distributions paid to common OP unitholders (96,605) (67,368)  
Net cash provided by financing activities (124,502) (77,887)  
Change in cash, cash equivalents and restricted cash (2,855) (237)  
Cash, cash equivalents and restricted cash at beginning of period 13,318 6,229 $ 6,229
Cash, cash equivalents and restricted cash at end of period 10,463 5,992 13,318
Supplemental Cash Flow and Noncash Information      
Cash paid for interest, net of interest capitalized 24,725 23,534  
Supplemental disclosure of noncash activities:      
Acquisitions of storage properties (700)    
Accretion of put liability 1,222 2,823  
Derivative valuation adjustment 20 20  
CubeSmart, L.P. and Subsidiaries      
Operating Activities      
Net loss 38,266 43,315  
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 83,514 54,845  
Non-cash portion of interest expense related to finance leases (18) 111  
Equity in earnings of real estate ventures (294) (20)  
Equity compensation expense 2,193 2,042  
Accretion of fair market value adjustment of debt (269) (607)  
Changes in other operating accounts:      
Other assets 4,085 (1,718)  
Accounts payable and accrued expenses 1,911 (1,675)  
Other liabilities 1,347 1,889  
Net cash provided by operating activities 130,735 98,182  
Investing Activities      
Acquisitions of storage properties (39,761)    
Additions and improvements to storage properties (7,755) (7,894)  
Development costs (7,785) (10,932)  
Investment in real estate ventures (5) (6,664)  
Cash distributed from real estate ventures 3,025 4,958  
Proceeds from sale of real estate, net 43,193    
Net cash used in investing activities (9,088) (20,532)  
Proceeds from:      
Revolving credit facility 151,532 268,111  
Principal payments on:      
Revolving credit facility (176,032) (333,111)  
Mortgage loans and notes payable (611) (44,649)  
Proceeds from issuance of common OP units (123) 99,688  
Cash paid upon vesting of restricted OP units (1,038) (728)  
Exercise of OP unit options 1,226 1,172  
Distributions paid to noncontrolling interests in subsidiaries (2,033) (69)  
Distributions paid to common OP unitholders (97,423) (68,301)  
Net cash provided by financing activities (124,502) (77,887)  
Change in cash, cash equivalents and restricted cash (2,855) (237)  
Cash, cash equivalents and restricted cash at beginning of period 13,318 6,229 6,229
Cash, cash equivalents and restricted cash at end of period 10,463 5,992 $ 13,318
Supplemental Cash Flow and Noncash Information      
Cash paid for interest, net of interest capitalized 24,725 23,534  
Supplemental disclosure of noncash activities:      
Acquisitions of storage properties (700)    
Accretion of put liability 1,222 2,823  
Derivative valuation adjustment $ 20 $ 20