| Cash Flow for Federal Realty Investment Trus (FRT) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 195,537 | 118,712 | 114,612 | 84,156 | 94,497 | | Provision for Loan Loss | - | - | - | - | - | | Depreciation & Amortization | 105,966 | 97,879 | 91,503 | 90,438 | 74,616 | | Deferred Income Taxes | - | - | - | - | - | | Change in Assets (Receivables) | (3,741) | (12,900) | (7,238) | (6,489) | (35,099) | | Change in Liabilities (Payables) | 9,287 | 894 | (2,231) | 3,929 | 4,781 | | Investment Securities Gain | - | - | - | - | - | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | (94,768) | (23,956) | (30,748) | (14,052) | (20,053) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | 1,928 | 3,772 | 8,562 | 3,131 | 3,649 | | Net Cash from Operating Activities | 214,209 | 184,401 | 174,460 | 161,113 | 122,391 | | | | Proceeds from Sale/Mat. Inv. | - | - | - | - | - | | Purchase of Investment Securities | (20,427) | (4,960) | - | - | - | | Net Increase Fed. Funds Sold | - | - | - | - | - | | Purchase of Property & Equipment | (122,863) | (304,318) | (266,577) | (197,800) | (174,524) | | Acquisitions | - | - | - | - | (50,629) | | Other Investment Changes, Net | (8,149) | (8,151) | 114,328 | 43,527 | 133,881 | | Net Cash from Investing Activities | (151,439) | (317,429) | (152,249) | (154,273) | (91,272) | | | Net Change in Deposits | - | - | - | - | - | | Cash Dividends paid | (131,443) | (139,845) | (130,500) | (108,756) | (104,802) | | Repayment of Long Term Debt | (255,603) | (446,052) | (44,555) | (43,123) | (117,913) | | Change in Short Term Debt | - | 193,436 | 500 | (44,750) | 28,750 | | Issuance of Long term Debt | 199,525 | 509,892 | 124,013 | 75,000 | 125,000 | | Issuance of Preferred Stock | - | - | - | - | (100,000) | | Issuance of Common Stock | 170,855 | 158,190 | 11,234 | 117,739 | 151,614 | | Purchase of Treasury Stock | - | (135,000) | - | - | - | | Other Financing Activities | (6,908) | (4,737) | (4,739) | (7,443) | (1,923) | | Cash from Financing Activities | (23,574) | 135,884 | (44,047) | (11,333) | (19,274) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | 39,196 | 2,856 | (21,836) | (4,493) | 11,845 | | | Cash at Beginning of Period | 11,495 | 8,639 | 30,475 | 34,968 | 23,123 | | Cash at End of Period | 50,691 | 11,495 | 8,639 | 30,475 | 34,968 | | | |
