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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net (loss) income $ (307,106) $ (88,030) $ 32,378
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 495,232 659,948 745,499
Gain on real estate assets, net (296,447) (96,068) (61,536)
Impairments from held for sale 0 0 20,027
Impairments 47,091 54,647 50,548
Equity-based compensation 13,101 13,314 16,751
Equity in income of unconsolidated entities and gain on joint venture (2,618) (1,869) (2,726)
Distributions from unconsolidated entities 284 1,366 3,646
Loss (gain) on investments 492 (4,092) (65)
Loss (gain) on derivative instruments 58 (355) (2,976)
Non-cash restructuring expense 3,951 0 0
Loss (gain) on extinguishment and forgiveness of debt, net 17,910 (5,360) (18,373)
Surrender of Limited Partner OP Units 26,536 0 0
Changes in assets and liabilities:      
Investment in direct financing leases 1,622 2,078 2,097
Rent and tenant receivables, operating lease right-of-use and other assets, net (18,367) (34,096) (21,394)
Due from affiliates 0 0 1,163
Assets held for sale classified as discontinued operations 0 (2,492) 13,812
Accounts payable and accrued expenses (16,719) 1,688 10,742
Deferred rent, operating lease and other liabilities (19,551) 7,162 (395)
Due to affiliates 0 (66) 50
Liabilities related to discontinued operations 0 (13,861) 4,019
Net cash (used in) provided by operating activities (107,603) 493,914 793,267
Cash flows from investing activities:      
Investments in real estate assets (394,662) (500,625) (699,004)
Capital expenditures and leasing costs (37,957) (22,291) (21,694)
Real estate developments (28,125) (9,221) (14,850)
Principal repayments received on investment securities and mortgage notes receivable 106 5,761 6,796
Investments in unconsolidated entities (2,767) (771) 0
Return of investment from unconsolidated entities 1,138 48 1,972
Proceeds from disposition of real estate and joint venture 1,067,532 502,289 445,525
Proceeds from disposition of discontinued operations 0 122,915 0
Investment in leasehold improvements and other assets (1,716) (841) (1,191)
Deposits for real estate assets (8,453) (13,412) (37,226)
Proceeds from sale of investments and other assets 9,837 46,966 400
Uses and refunds of deposits for real estate assets 6,328 17,267 36,111
Proceeds from the settlement of property-related insurance claims 1,957 1,434 355
Line of credit advances to Cole REITs 0 (2,200) (16,400)
Line of credit repayments from Cole REITs 0 3,800 25,100
Net cash provided by (used in) investing activities 613,218 151,119 (274,106)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 705 187 4,652
Payments on mortgage notes payable and other debt, including debt extinguishment costs (374,058) (137,887) (424,385)
Proceeds from credit facility 1,386,000 1,934,000 329,000
Payments on credit facility (739,000) (1,716,000) (645,107)
Proceeds from corporate bonds 593,052 546,304 600,000
Redemptions of corporate bonds, including extinguishment costs (1,160,977) 0 0
Repurchases of convertible notes, including extinguishment costs (82,254) (597,500) 0
Payments of deferred financing costs (4,190) (25,471) (9,575)
Repurchases of Common Stock under the share repurchase programs 0 (50,154) (518)
Repurchases of Common Stock to settle tax obligations (1,618) (2,326) (2,148)
Proceeds from the issuance of Common Stock, net of underwriters’ discount and offering expenses 1,014,215 0 0
Redemption of Series F Preferred Stock (300,122) 0 0
Contributions from non-controlling interest holders 64 120 101
Distributions paid (665,241) (606,679) (608,615)
Payment related to the surrender of Limited Partner OP Units (191,974) 0 0
Net cash used in financing activities (525,398) (655,406) (756,595)
Net change in cash and cash equivalents and restricted cash (19,783) (10,373) (237,434)
Cash and cash equivalents and restricted cash, beginning of period 33,880 53,663 64,036
Less: cash and cash equivalents of discontinued operations 0 (2,198) (2,973)
Cash and cash equivalents and restricted cash from continuing operations, beginning of period 53,663 61,838 298,497
Cash and cash equivalents and restricted cash, beginning of period 53,663 64,036 301,470
Less: cash and cash equivalents of discontinued operations 0 0 (2,198)
Cash and cash equivalents and restricted cash from continuing operations, end of period 33,880 53,663 61,838
Cash and cash equivalents at beginning of period 30,758 34,176 253,479
Restricted cash at beginning of period 22,905 27,662 45,018
Cash and cash equivalents at end of period 12,921 30,758 34,176
Restricted cash at end of period 20,959 22,905 27,662
VEREIT Operating Partnership, L.P. [Member]      
Cash flows from operating activities:      
Net (loss) income (307,106) (88,030) 32,378
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 495,232 659,948 745,499
Gain on real estate assets, net (296,447) (96,068) (61,536)
Impairments from held for sale 0 0 20,027
Impairments 47,091 54,647 50,548
Equity-based compensation 13,101 13,314 16,751
Equity in income of unconsolidated entities and gain on joint venture (2,618) (1,869) (2,726)
Distributions from unconsolidated entities 284 1,366 3,646
Loss (gain) on investments 492 (4,092) (65)
Loss (gain) on derivative instruments 58 (355) (2,976)
Non-cash restructuring expense 3,951 0 0
Loss (gain) on extinguishment and forgiveness of debt, net 17,910 (5,360) (18,373)
Surrender of Limited Partner OP Units 26,536 0 0
Changes in assets and liabilities:      
Investment in direct financing leases 1,622 2,078 2,097
Rent and tenant receivables, operating lease right-of-use and other assets, net (18,367) (34,096) (21,394)
Due from affiliates 0 0 1,163
Assets held for sale classified as discontinued operations 0 (2,492) 13,812
Accounts payable and accrued expenses (16,719) 1,688 10,742
Deferred rent, operating lease and other liabilities (19,551) 7,162 (395)
Due to affiliates 0 (66) 50
Liabilities related to discontinued operations 0 (13,861) 4,019
Net cash (used in) provided by operating activities (107,603) 493,914 793,267
Cash flows from investing activities:      
Investments in real estate assets (394,662) (500,625) (699,004)
Capital expenditures and leasing costs (37,957) (22,291) (21,694)
Real estate developments (28,125) (9,221) (14,850)
Principal repayments received on investment securities and mortgage notes receivable 106 5,761 6,796
Investments in unconsolidated entities (2,767) (771) 0
Return of investment from unconsolidated entities 1,138 48 1,972
Proceeds from disposition of real estate and joint venture 1,067,532 502,289 445,525
Proceeds from disposition of discontinued operations 0 122,915 0
Investment in leasehold improvements and other assets (1,716) (841) (1,191)
Deposits for real estate assets (8,453) (13,412) (37,226)
Proceeds from sale of investments and other assets 9,837 46,966 400
Uses and refunds of deposits for real estate assets 6,328 17,267 36,111
Proceeds from the settlement of property-related insurance claims 1,957 1,434 355
Line of credit advances to Cole REITs 0 (2,200) (16,400)
Line of credit repayments from Cole REITs 0 3,800 25,100
Net cash provided by (used in) investing activities 613,218 151,119 (274,106)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 705 187 4,652
Payments on mortgage notes payable and other debt, including debt extinguishment costs (374,058) (137,887) (424,385)
Proceeds from credit facility 1,386,000 1,934,000 329,000
Payments on credit facility (739,000) (1,716,000) (645,107)
Proceeds from corporate bonds 593,052 546,304 600,000
Redemptions of corporate bonds, including extinguishment costs (1,160,977) 0 0
Repurchases of convertible notes, including extinguishment costs (82,254) (597,500) 0
Payments of deferred financing costs (4,190) (25,471) (9,575)
Repurchases of Common Stock under the share repurchase programs 0 (50,154) (518)
Repurchases of Common Stock to settle tax obligations (1,618) (2,326) (2,148)
Proceeds from the issuance of Common Stock, net of underwriters’ discount and offering expenses 1,014,215 0 0
Redemption of Series F Preferred Stock (300,122) 0 0
Contributions from non-controlling interest holders 64 120 101
Distributions paid (665,241) (606,679) (608,615)
Payment related to the surrender of Limited Partner OP Units (191,974) 0 0
Net cash used in financing activities (525,398) (655,406) (756,595)
Net change in cash and cash equivalents and restricted cash (19,783) (10,373) (237,434)
Cash and cash equivalents and restricted cash, beginning of period 33,880 53,663 64,036
Less: cash and cash equivalents of discontinued operations 0 (2,198) (2,973)
Cash and cash equivalents and restricted cash from continuing operations, beginning of period 53,663 61,838 298,497
Cash and cash equivalents and restricted cash, beginning of period 53,663 64,036 301,470
Less: cash and cash equivalents of discontinued operations 0 0 (2,198)
Cash and cash equivalents and restricted cash from continuing operations, end of period 33,880 53,663 61,838
Cash and cash equivalents at beginning of period 30,758 34,176 253,479
Restricted cash at beginning of period 22,905 27,662 45,018
Cash and cash equivalents at end of period 12,921 30,758 34,176
Restricted cash at end of period $ 20,959 $ 22,905 $ 27,662