Broadstone Net Lease, Inc.
For the period ended Sep 30, 2026. Filed Oct 28, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 28, 2026
BNL$17.85+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
(in thousands)
| For the Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net income | $114,786 | $64,388 |
| Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities: | ||
| Depreciation and amortization including intangibles associated with investment in rental property | 138,367 | 118,865 |
| Provision for impairment of investment in rental properties | 5,019 | 35,067 |
| Amortization of debt issuance costs and original issuance discounts charged to interest expense | 4,897 | 3,923 |
| Stock-based compensation expense | 8,701 | 7,106 |
| Settlement of interest rate swaps | — | (6,712) |
| Straight-line rent, direct financing and sales-type lease adjustments | (13,748) | (13,465) |
| Gain on sale of real estate | (23,707) | (4,230) |
| Other non-cash items | (10,249) | 7,902 |
| Changes in assets and liabilities: | ||
| Tenant and other receivables | 1,319 | (291) |
| Prepaid expenses and other assets | (3,069) | (2,579) |
| Accounts payable and other liabilities | (8,053) | 1,303 |
| Accrued interest payable | 7,634 | 3,652 |
| Net cash provided by operating activities | 221,897 | 214,929 |
| Investing activities | ||
| Acquisition of rental property | (123,595) | (255,784) |
| Investment in property under development including capitalized interest of $11,577 and $2,948 in 2026 and 2025, respectively | (359,810) | (165,517) |
| Capital expenditures and improvements | (36,947) | (23,122) |
| Proceeds from disposition of rental property, net | 80,718 | 58,557 |
| Change in deposits on investments in rental property | 983 | (4,781) |
| Net cash used in investing activities | (438,651) | (390,647) |
| Financing activities | ||
| Offering costs, discounts, and commissions | (951) | (215) |
| Contributions from non-controlling interests | 383 | 1,730 |
| Proceeds from unsecured term loans and senior unsecured notes | 100,000 | 844,841 |
| Principal payments on mortgages and unsecured term loans | (16,455) | (419,707) |
| Borrowings on unsecured revolving credit facility | 624,000 | 514,300 |
| Repayments on unsecured revolving credit facility | (332,000) | (513,800) |
| Cash distributions paid to stockholders | (167,675) | (163,852) |
| Cash distributions paid to non-controlling interests | (8,195) | (7,832) |
| Debt issuance costs paid | (2,218) | (12,420) |
| Net cash provided by financing activities | 196,889 | 243,045 |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (19,865) | 67,327 |
| Cash and cash equivalents and restricted cash at beginning of period | 33,642 | 15,993 |
| Cash and cash equivalents and restricted cash at end of period | $13,777 | $83,320 |
| Reconciliation of cash and cash equivalents and restricted cash | ||
| Cash and cash equivalents at beginning of period | $30,540 | $14,845 |
| Restricted cash at beginning of period | 3,102 | 1,148 |
| Cash and cash equivalents and restricted cash at beginning of period | $33,642 | $15,993 |
| Cash and cash equivalents at end of period | $12,189 | $81,966 |
| Restricted cash at end of period | 1,588 | 1,354 |
| Cash and cash equivalents and restricted cash at end of period | $13,777 | $83,320 |
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