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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 70,971 $ 32,537
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 139,394 172,458
Gain on real estate assets, net (10,831) (18,036)
Impairments 11,988 6,036
Equity-based compensation 2,872 2,927
Equity in income of unconsolidated entities and gain on joint venture (500) (364)
Distributions from unconsolidated entities 0 936
Loss (Gain) on investments 470 (5,638)
Loss (Gain) on derivative instruments 34 (273)
Non-cash restructuring expense 4,018 0
Changes in assets and liabilities:    
Investment in direct financing leases 409 538
Rent and tenant receivables, operating lease right-of-use and other assets, net (7,160) (23,344)
Assets held for sale classified as discontinued operations 0 (2,490)
Accounts payable and accrued expenses (2,415) (7,653)
Deferred rent, operating lease and other liabilities (15,216) 6,158
Due to affiliates 0 (66)
Liabilities related to discontinued operations 0 (13,861)
Net cash provided by operating activities 194,034 149,865
Cash flows from investing activities:    
Investments in real estate assets (81,065) (139,882)
Capital expenditures and leasing costs (7,498) (4,993)
Real estate developments (3,232) (1,899)
Principal repayments received on investment securities and mortgage notes receivable 62 4,615
Return of investment from unconsolidated entities 0 386
Proceeds from disposition of real estate and joint venture 60,496 122,526
Proceeds from disposition of discontinued operations 0 123,925
Investment in leasehold improvements and other assets (177) (85)
Deposits for real estate assets (900) (4,000)
Proceeds from sale of investments and other assets 8,199 1,351
Uses and refunds of deposits for real estate assets 1,240 5,120
Proceeds from the settlement of property-related insurance claims 32 269
Line of credit advances to Cole REITs 0 (2,200)
Line of credit repayments from Cole REITs 0 3,800
Net cash (used in) provided by investing activities (22,843) 108,933
Cash flows from financing activities:    
Proceeds from mortgage notes payable 0 89
Payments on mortgage notes payable and other debt, including debt extinguishment costs (2,426) (2,676)
Proceeds from credit facility 899,000 380,000
Payments on credit facility (207,000) (445,000)
Payments on corporate bonds, including extinguishment costs (750,000) 0
Payments of deferred financing costs (172) 0
Repurchases of Common Stock under the Share Repurchase Programs 0 (44,585)
Repurchases of Common Stock to settle tax obligations (1,595) (1,659)
Proceeds from the issuance of Common Stock, net of underwriters’ discount 20,894 0
Contributions from non-controlling interest holders 64 0
Distributions paid (152,314) (152,519)
Net cash used in financing activities (193,549) (266,350)
Net change in cash and cash equivalents and restricted cash (22,358) (7,552)
Cash and cash equivalents and restricted cash, beginning of period 53,663 64,036
Less: cash and cash equivalents of discontinued operations 0 (2,198)
Cash and cash equivalents and restricted cash from continuing operations, beginning of period 53,663 61,838
Cash and cash equivalents and restricted cash from continuing operations, end of period 31,305 56,484
Cash and cash equivalents at beginning of period 30,758 34,176
Restricted cash at beginning of period 22,905 27,662
Cash and cash equivalents at end of period 12,788 28,435
Restricted cash at end of period 18,517 28,049
VEREIT Operating Partnership, L.P. [Member]    
Cash flows from operating activities:    
Net income 70,971 32,537
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 139,394 172,458
Gain on real estate assets, net (10,831) (18,036)
Impairments 11,988 6,036
Equity-based compensation 2,872 2,927
Equity in income of unconsolidated entities and gain on joint venture (500) (364)
Distributions from unconsolidated entities 0 936
Loss (Gain) on investments 470 (5,638)
Loss (Gain) on derivative instruments 34 (273)
Non-cash restructuring expense 4,018 0
Changes in assets and liabilities:    
Investment in direct financing leases 409 538
Rent and tenant receivables, operating lease right-of-use and other assets, net (7,160) (23,344)
Assets held for sale classified as discontinued operations 0 (2,490)
Accounts payable and accrued expenses (2,415) (7,653)
Deferred rent, operating lease and other liabilities (15,216) 6,158
Due to affiliates 0 (66)
Liabilities related to discontinued operations 0 (13,861)
Net cash provided by operating activities 194,034 149,865
Cash flows from investing activities:    
Investments in real estate assets (81,065) (139,882)
Capital expenditures and leasing costs (7,498) (4,993)
Real estate developments (3,232) (1,899)
Principal repayments received on investment securities and mortgage notes receivable 62 4,615
Return of investment from unconsolidated entities 0 386
Proceeds from disposition of real estate and joint venture 60,496 122,526
Proceeds from disposition of discontinued operations 0 123,925
Investment in leasehold improvements and other assets (177) (85)
Deposits for real estate assets (900) (4,000)
Proceeds from sale of investments and other assets 8,199 1,351
Uses and refunds of deposits for real estate assets 1,240 5,120
Proceeds from the settlement of property-related insurance claims 32 269
Line of credit advances to Cole REITs 0 (2,200)
Line of credit repayments from Cole REITs 0 3,800
Net cash (used in) provided by investing activities (22,843) 108,933
Cash flows from financing activities:    
Proceeds from mortgage notes payable 0 89
Payments on mortgage notes payable and other debt, including debt extinguishment costs (2,426) (2,676)
Proceeds from credit facility 899,000 380,000
Payments on credit facility (207,000) (445,000)
Payments on corporate bonds, including extinguishment costs (750,000) 0
Payments of deferred financing costs (172) 0
Repurchases of Common Stock under the Share Repurchase Programs 0 (44,585)
Repurchases of Common Stock to settle tax obligations (1,595) (1,659)
Proceeds from the issuance of Common Stock, net of underwriters’ discount 20,894 0
Contributions from non-controlling interest holders 64 0
Distributions paid (152,314) (152,519)
Net cash used in financing activities (193,549) (266,350)
Net change in cash and cash equivalents and restricted cash (22,358) (7,552)
Cash and cash equivalents and restricted cash, beginning of period 53,663 64,036
Less: cash and cash equivalents of discontinued operations 0 (2,198)
Cash and cash equivalents and restricted cash from continuing operations, beginning of period 53,663 61,838
Cash and cash equivalents and restricted cash from continuing operations, end of period 31,305 56,484
Cash and cash equivalents at beginning of period 30,758 34,176
Restricted cash at beginning of period 22,905 27,662
Cash and cash equivalents at end of period 12,788 28,435
Restricted cash at end of period $ 18,517 $ 28,049