XML 28 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (112,847) $ (139,402)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 410,268 444,713
(Gain) loss on real estate assets and joint venture, net (27,810) 56,042
Impairments 169,342 85,341
Equity-based compensation 4,509 6,173
Equity in income of unconsolidated entities (276) (1,503)
Distributions from unconsolidated entities 2,571 5,229
Loss on derivative instruments 1,263 717
(Gain) on investment securities 0 (61)
Gain on extinguishment and forgiveness of debt, net (252) (5,307)
Changes in assets and liabilities:    
Investment in direct financing leases 1,290 986
Rent and tenant receivables and other assets, net (34,799) (41,788)
Due from affiliates 2,590 32,666
Accounts payable and accrued expenses 6,717 14,841
Deferred rent, derivative and other liabilities (12,140) (7,581)
Due to affiliates (230) (291)
Net cash provided by operating activities 410,196 450,775
Cash flows from investing activities:    
Investments in real estate assets (19,952) (10,207)
Capital expenditures and leasing costs (6,022) (6,791)
Real estate developments (5,071) (35,370)
Principal repayments received from borrowers 4,370 5,028
Proceeds from disposition of real estate and joint venture 345,251 324,949
Investment in leasehold improvements and other assets (1,007) 0
Proceeds from sale of investments and other assets 0 229
Deposits for real estate assets (7,573) (7,555)
Uses and refunds of deposits for real estate assets 6,014 11,878
Line of credit advances to affiliates 0 (10,000)
Line of credit repayments from affiliates 50,000 10,000
Change in restricted cash (1,070) 4,927
Net cash provided by investing activities 364,940 287,088
Cash flows from financing activities:    
Proceeds from mortgage notes payable 511 1,314
Payments on mortgage notes payable and other debt (106,707) (106,799)
Proceeds from credit facility 453,000 0
Payments on credit facility (858,000) (884,000)
Proceeds from corporate bonds 1,000,000 0
Payments of deferred financing costs (16,727) (334)
Repurchases of common stock/units to settle tax obligations (1,798) (1,339)
Contributions from non-controlling interest holders 675 0
Distributions paid (285,573) (41,765)
Net cash provided by (used in) financing activities 185,381 (1,032,923)
Net change in cash and cash equivalents 960,517 (295,060)
Cash and cash equivalents, beginning of period 69,103 416,711
Cash and cash equivalents, end of period 1,029,620 121,651
VEREIT Operating Partnership, L.P. [Member]    
Cash flows from operating activities:    
Net loss (112,847) (139,402)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 410,268 444,713
(Gain) loss on real estate assets and joint venture, net (27,810) 56,042
Impairments 169,342 85,341
Equity-based compensation 4,509 6,173
Equity in income of unconsolidated entities (276) (1,503)
Distributions from unconsolidated entities 2,571 5,229
Loss on derivative instruments 1,263 717
(Gain) on investment securities 0 (61)
Gain on extinguishment and forgiveness of debt, net (252) (5,307)
Changes in assets and liabilities:    
Investment in direct financing leases 1,290 986
Rent and tenant receivables and other assets, net (34,799) (41,788)
Due from affiliates 2,590 32,666
Accounts payable and accrued expenses 6,717 14,841
Deferred rent, derivative and other liabilities (12,140) (7,581)
Due to affiliates (230) (291)
Net cash provided by operating activities 410,196 450,775
Cash flows from investing activities:    
Investments in real estate assets (19,952) (10,207)
Capital expenditures and leasing costs (6,022) (6,791)
Real estate developments (5,071) (35,370)
Principal repayments received from borrowers 4,370 5,028
Proceeds from disposition of real estate and joint venture 345,251 324,949
Investment in leasehold improvements and other assets (1,007) 0
Proceeds from sale of investments and other assets 0 229
Deposits for real estate assets (7,573) (7,555)
Uses and refunds of deposits for real estate assets 6,014 11,878
Line of credit advances to affiliates 0 (10,000)
Line of credit repayments from affiliates 50,000 10,000
Change in restricted cash (1,070) 4,927
Net cash provided by investing activities 364,940 287,088
Cash flows from financing activities:    
Proceeds from mortgage notes payable 511 1,314
Payments on mortgage notes payable and other debt (106,707) (106,799)
Proceeds from credit facility 453,000 0
Payments on credit facility (858,000) (884,000)
Proceeds from corporate bonds 1,000,000 0
Payments of deferred financing costs (16,727) (334)
Repurchases of common stock/units to settle tax obligations (1,798) (1,339)
Contributions from non-controlling interest holders 675 0
Distributions paid (285,573) (41,765)
Net cash provided by (used in) financing activities 185,381 (1,032,923)
Net change in cash and cash equivalents 960,517 (295,060)
Cash and cash equivalents, beginning of period 69,103 416,711
Cash and cash equivalents, end of period $ 1,029,620 $ 121,651