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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 239,085 $ (378,274)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 353,400 379,133
Gain on real estate assets, net (77,117) (251,106)
Impairments 36,871 24,240
Equity-based compensation 10,137 9,899
Equity in income of unconsolidated entities (2,406) (1,682)
Distributions from unconsolidated entities 1,753 130
Loss on investments 607 492
Loss on derivative instruments 0 58
Noncash Restructuring Expense 0 3,999
Loss on extinguishment and forgiveness of debt, net 1,419 497
Surrender of Limited Partner OP Units 0 (26,536)
Changes in assets and liabilities:    
Investment in direct financing leases 1,117 1,230
Rent and tenant receivables, operating lease right-of-use and other assets, net (38,277) (17,234)
Accounts payable and accrued expenses (9,645) 786,839
Deferred rent, operating lease and other liabilities (2,936) (26,460)
Net cash provided by operating activities 514,008 505,225
Cash flows from investing activities:    
Investments in real estate assets (147,121) (251,804)
Capital expenditures and leasing costs (21,102) (27,309)
Real estate developments (16,592) (17,274)
Principal repayments received on mortgage notes receivable 0 106
Investments in unconsolidated entities (21,348) (2,767)
Return of investment from unconsolidated entities 1,961 154
Proceeds from disposition of real estate 346,675 846,023
Investment in leasehold improvements and other assets (612) (1,417)
Deposits for real estate assets (1,973) (5,238)
Investments in mezzanine position (9,959) 0
Proceeds from sale of investments and other assets 0 9,837
Uses and refunds of deposits for real estate assets 4,036 3,562
Proceeds from the settlement of property-related insurance claims 654 473
Net cash provided by investing activities 134,619 554,346
Cash flows from financing activities:    
Proceeds from mortgage notes payable 1,032 0
Payments on mortgage notes payable and other debt, including debt extinguishment costs (197,382) (182,648)
Proceeds from credit facility 902,000 1,061,000
Payments on credit facility (1,052,000) (564,000)
Proceeds from corporate bonds 594,864 0
Redemptions of corporate bonds, including extinguishment costs (26) (750,000)
Repurchases of convertible notes, including extinguishment costs (69,362) 0
Payments of deferred financing costs (7,275) (181)
Repurchases of Common Stock to settle tax obligations (2,386) (1,618)
Proceeds from the issuance of Common Stock, net of underwriters’ discount and offering expenses 89,279 929,004
Redemption of Series F Preferred Stock (300,104) (100,096)
Redemption of Limited Partners’ Common OP Units (149) 0
Contributions from non-controlling interest holders 0 64
Distributions paid (418,722) (454,702)
Net cash used in financing activities (460,231) (63,177)
Net change in cash and cash equivalents and restricted cash 188,396 996,394
Cash and cash equivalents and restricted cash, beginning of period 33,880 53,663
Cash and cash equivalents and restricted cash, end of period 222,276 1,050,057
Cash and cash equivalents at beginning of period 12,921 30,758
Restricted cash at beginning of period 20,959 22,905
Cash and cash equivalents at end of period 207,321 1,029,315
Restricted cash at end of period 14,955 20,742
VEREIT Operating Partnership, L.P. [Member]    
Cash flows from operating activities:    
Net income (loss) 239,085 (378,274)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 353,400 379,133
Gain on real estate assets, net (77,117) (251,106)
Impairments 36,871 24,240
Equity-based compensation 10,137 9,899
Equity in income of unconsolidated entities (2,406) (1,682)
Distributions from unconsolidated entities 1,753 130
Loss on investments 607 492
Loss on derivative instruments 0 58
Noncash Restructuring Expense 0 3,999
Loss on extinguishment and forgiveness of debt, net 1,419 497
Surrender of Limited Partner OP Units 0 (26,536)
Changes in assets and liabilities:    
Investment in direct financing leases 1,117 1,230
Rent and tenant receivables, operating lease right-of-use and other assets, net (38,277) (17,234)
Accounts payable and accrued expenses (9,645) 786,839
Deferred rent, operating lease and other liabilities (2,936) (26,460)
Net cash provided by operating activities 514,008 505,225
Cash flows from investing activities:    
Investments in real estate assets (147,121) (251,804)
Capital expenditures and leasing costs (21,102) (27,309)
Real estate developments (16,592) (17,274)
Principal repayments received on mortgage notes receivable 0 106
Investments in unconsolidated entities (21,348) (2,767)
Return of investment from unconsolidated entities 1,961 154
Proceeds from disposition of real estate 346,675 846,023
Investment in leasehold improvements and other assets (612) (1,417)
Deposits for real estate assets (1,973) (5,238)
Investments in mezzanine position (9,959) 0
Proceeds from sale of investments and other assets 0 9,837
Uses and refunds of deposits for real estate assets 4,036 3,562
Proceeds from the settlement of property-related insurance claims 654 473
Net cash provided by investing activities 134,619 554,346
Cash flows from financing activities:    
Proceeds from mortgage notes payable 1,032 0
Payments on mortgage notes payable and other debt, including debt extinguishment costs (197,382) (182,648)
Proceeds from credit facility 902,000 1,061,000
Payments on credit facility (1,052,000) (564,000)
Proceeds from corporate bonds 594,864 0
Redemptions of corporate bonds, including extinguishment costs (26) (750,000)
Repurchases of convertible notes, including extinguishment costs (69,362) 0
Payments of deferred financing costs (7,275) (181)
Repurchases of Common Stock to settle tax obligations (2,386) (1,618)
Proceeds from the issuance of Common Stock, net of underwriters’ discount and offering expenses 89,279 929,004
Redemption of Series F Preferred Stock (300,104) (100,096)
Redemption of Limited Partners’ Common OP Units (149) 0
Contributions from non-controlling interest holders 0 64
Distributions paid (418,722) (454,702)
Net cash used in financing activities (460,231) (63,177)
Net change in cash and cash equivalents and restricted cash 188,396 996,394
Cash and cash equivalents and restricted cash, beginning of period 33,880 53,663
Cash and cash equivalents and restricted cash, end of period 222,276 1,050,057
Cash and cash equivalents at beginning of period 12,921 30,758
Restricted cash at beginning of period 20,959 22,905
Cash and cash equivalents at end of period 207,321 1,029,315
Restricted cash at end of period $ 14,955 $ 20,742