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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ 201,219 $ (307,106) $ (88,030)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 469,035 495,232 659,948
Gain on real estate assets, net (95,551) (296,447) (96,068)
Impairments 65,075 47,091 54,647
Equity-based compensation 13,302 13,101 13,314
Equity in income and gain on disposition of unconsolidated entities (3,539) (2,618) (1,869)
Distributions from unconsolidated entities 2,364 284 1,366
(Gain) loss on other investments (3,510) 492 (4,092)
Loss (gain) on derivative instruments 85,392 58 (355)
Non-cash restructuring expense 0 3,951 0
Loss (gain) on extinguishment and forgiveness of debt, net 1,486 17,910 (5,360)
Surrender of Limited Partner OP Units 0 (26,536) 0
Changes in assets and liabilities:      
Investment in direct financing leases 1,495 1,622 2,078
Rent and tenant receivables, operating lease right-of-use and other assets, net (27,260) (18,367) (34,096)
Assets held for sale classified as discontinued operations 0 0 (2,492)
Accounts payable and accrued expenses (2,075) (16,719) 1,688
Deferred rent, operating lease and other liabilities (8,863) (19,551) 7,162
Due to affiliates 0 0 (66)
Liabilities related to discontinued operations 0 0 (13,861)
Net cash provided by (used in) operating activities 698,570 (107,603) 493,914
Cash flows from investing activities:      
Investments in real estate assets (303,306) (394,662) (500,625)
Capital expenditures and leasing costs (26,773) (37,957) (22,291)
Real estate developments (18,904) (28,125) (9,221)
Principal repayments received on other investments 15,727 106 5,761
Investments in unconsolidated entities (44,174) (2,767) (771)
Return of investment from unconsolidated entities 4,557 1,138 48
Proceeds from disposition of real estate 407,994 1,067,532 502,289
Proceeds from disposition of discontinued operations 0 0 122,915
Investment in leasehold improvements and other assets (722) (1,716) (841)
Deposits for real estate assets (4,451) (8,453) (13,412)
Investments in mezzanine position (9,959) 0 0
Proceeds from sale of investments and other assets 3,804 9,837 46,966
Uses and refunds of deposits for real estate assets 6,611 6,328 17,267
Proceeds from the settlement of property-related insurance claims 685 1,957 1,434
Line of credit advances to Cole REITs 0 0 (2,200)
Line of credit repayments from Cole REITs 0 0 3,800
Net cash provided by investing activities 31,089 613,218 151,119
Cash flows from financing activities:      
Proceeds from mortgage notes payable 1,032 705 187
Payments on mortgage notes payable and other debt, including debt extinguishment costs (198,284) (374,058) (137,887)
Proceeds from credit facility 902,000 1,386,000 1,934,000
Payments on credit facility, including swap termination payments (2,037,391) (739,000) (1,716,000)
Proceeds from corporate bonds 1,781,765 593,052 546,304
Redemptions of corporate bonds, including extinguishment costs (26) (1,160,977) 0
Repayments and repurchases of convertible notes, including extinguishment costs (322,133) (82,254) (597,500)
Payments of deferred financing costs (18,047) (4,190) (25,471)
Repurchases of Common Stock under Share Repurchase Programs 0 0 (50,154)
Repurchases of Common Stock to settle tax obligations (2,392) (1,618) (2,326)
Proceeds from the issuance of Common Stock, net of underwriters’ discount and offering expenses 478,572 1,014,215 0
Redemption of Series F Preferred Stock (300,152) (300,122) 0
Redemption of Limited Partners’ Common OP Units (149) 0 0
Fractional common shares settled in reverse stock split (205) 0 0
Contributions from non-controlling interest holders 0 64 120
Distributions paid (510,748) (665,241) (606,679)
Payment related to the surrender of Limited Partner OP Units 0 (191,974) 0
Net cash used in financing activities (226,158) (525,398) (655,406)
Net change in cash and cash equivalents and restricted cash 503,501 (19,783) (10,373)
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 0 (2,198)
Cash and cash equivalents and restricted cash, beginning of period 33,880 53,663 61,838
Cash and cash equivalents and restricted cash, end of period   33,880 53,663
Less: cash and cash equivalents of discontinued operations   0 0
Cash and cash equivalents and restricted cash, end of period 537,381 33,880 53,663
Cash and cash equivalents at beginning of period 12,921 30,758 34,176
Restricted cash at beginning of period 20,959 22,905 27,662
Cash and cash equivalents at end of period 523,539 12,921 30,758
Restricted cash at end of period 13,842 20,959 22,905
VEREIT Operating Partnership, L.P. [Member]      
Cash flows from operating activities:      
Net income (loss) 201,219 (307,106) (88,030)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 469,035 495,232 659,948
Gain on real estate assets, net (95,551) (296,447) (96,068)
Impairments 65,075 47,091 54,647
Equity-based compensation 13,302 13,101 13,314
Equity in income and gain on disposition of unconsolidated entities (3,539) (2,618) (1,869)
Distributions from unconsolidated entities 2,364 284 1,366
(Gain) loss on other investments (3,510) 492 (4,092)
Loss (gain) on derivative instruments 85,392 58 (355)
Non-cash restructuring expense 0 3,951 0
Loss (gain) on extinguishment and forgiveness of debt, net 1,486 17,910 (5,360)
Surrender of Limited Partner OP Units 0 (26,536) 0
Changes in assets and liabilities:      
Investment in direct financing leases 1,495 1,622 2,078
Rent and tenant receivables, operating lease right-of-use and other assets, net (27,260) (18,367) (34,096)
Assets held for sale classified as discontinued operations 0 0 (2,492)
Accounts payable and accrued expenses (2,075) (16,719) 1,688
Deferred rent, operating lease and other liabilities (8,863) (19,551) 7,162
Due to affiliates 0 0 (66)
Liabilities related to discontinued operations 0 0 (13,861)
Net cash provided by (used in) operating activities 698,570 (107,603) 493,914
Cash flows from investing activities:      
Investments in real estate assets (303,306) (394,662) (500,625)
Capital expenditures and leasing costs (26,773) (37,957) (22,291)
Real estate developments (18,904) (28,125) (9,221)
Principal repayments received on other investments 15,727 106 5,761
Investments in unconsolidated entities (44,174) (2,767) (771)
Return of investment from unconsolidated entities 4,557 1,138 48
Proceeds from disposition of real estate 407,994 1,067,532 502,289
Proceeds from disposition of discontinued operations 0 0 122,915
Investment in leasehold improvements and other assets (722) (1,716) (841)
Deposits for real estate assets (4,451) (8,453) (13,412)
Investments in mezzanine position (9,959) 0 0
Proceeds from sale of investments and other assets 3,804 9,837 46,966
Uses and refunds of deposits for real estate assets 6,611 6,328 17,267
Proceeds from the settlement of property-related insurance claims 685 1,957 1,434
Line of credit advances to Cole REITs 0 0 (2,200)
Line of credit repayments from Cole REITs 0 0 3,800
Net cash provided by investing activities 31,089 613,218 151,119
Cash flows from financing activities:      
Proceeds from mortgage notes payable 1,032 705 187
Payments on mortgage notes payable and other debt, including debt extinguishment costs (198,284) (374,058) (137,887)
Proceeds from credit facility 902,000 1,386,000 1,934,000
Payments on credit facility, including swap termination payments (2,037,391) (739,000) (1,716,000)
Proceeds from corporate bonds 1,781,765 593,052 546,304
Redemptions of corporate bonds, including extinguishment costs (26) (1,160,977) 0
Repayments and repurchases of convertible notes, including extinguishment costs (322,133) (82,254) (597,500)
Payments of deferred financing costs (18,047) (4,190) (25,471)
Repurchases of Common Stock under Share Repurchase Programs 0 0 (50,154)
Repurchases of Common Stock to settle tax obligations (2,392) (1,618) (2,326)
Proceeds from the issuance of Common Stock, net of underwriters’ discount and offering expenses 478,572 1,014,215 0
Redemption of Series F Preferred Stock (300,152) (300,122) 0
Redemption of Limited Partners’ Common OP Units (149) 0 0
Fractional common shares settled in reverse stock split (205) 0 0
Contributions from non-controlling interest holders 0 64 120
Distributions paid (510,748) (665,241) (606,679)
Payment related to the surrender of Limited Partner OP Units 0 (191,974) 0
Net cash used in financing activities (226,158) (525,398) (655,406)
Net change in cash and cash equivalents and restricted cash 503,501 (19,783) (10,373)
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 0 (2,198)
Cash and cash equivalents and restricted cash, beginning of period 33,880 53,663 61,838
Cash and cash equivalents and restricted cash, end of period 537,381 33,880 53,663
Less: cash and cash equivalents of discontinued operations 0 0 0
Cash and cash equivalents and restricted cash, end of period 537,381 33,880 53,663
Cash and cash equivalents at beginning of period 12,921 30,758 34,176
Restricted cash at beginning of period 20,959 22,905 27,662
Cash and cash equivalents at end of period 523,539 12,921 30,758
Restricted cash at end of period $ 13,842 $ 20,959 $ 22,905