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CONDENSED CONSOLIDATED FINANCIAL STATEMENTS STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Cash flow from operating activities:        
Net income $ 6,538 $ 8,238 $ 19,204 $ 18,795
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization     89,104 57,347
Amortization of deferred loan costs     2,424 2,372
Amortization of senior notes discount     194 184
Equity-based compensation expense     7,887 5,206
Bad debt expense     1,201 640
Write off of deferred loan costs       83
Deferred tax benefit     (9,298) (5,695)
Changes in operating assets and liabilities        
Rents and other receivables, net     (9,191) (2,382)
Prepaid expenses     (2,854) (4,713)
Other assets     (967) (352)
Accounts payable and accrued liabilities     3,359 (2,427)
Advance rents, security deposits and other liabilities     984 (437)
Deferred income     1,448 3,698
Net cash provided by operating activities     103,495 72,319
Cash flow from investing activities:        
Acquisitions, net of cash acquired     (122,981) (288,865)
Additions to property and equipment     (197,751) (252,156)
Net cash used in investing activities     (320,732) (541,021)
Cash flow from financing activities:        
Credit facility proceeds     267,000 420,162
Debt repayment     (259,002) (260,000)
Payment of deferred financing costs     (35) (577)
Payment of cash dividends     (45,371) (32,756)
Distribution to noncontrolling interests     (7,189) (6,652)
Payments to net settle equity awards     (1,252)  
Principal payments on capital lease obligations     (9,612) (4,415)
Mortgage principal debt repayments       (16,600)
Equity proceeds, net of costs     275,663 369,482
Net cash provided by financing activities     220,202 468,644
Net increase (decrease) in cash and cash equivalents     2,965 (58)
Cash and cash equivalents, beginning of period     8,804 10,788
Cash and cash equivalents, end of period 11,769 10,730 11,769 10,730
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
Cash paid for interest (excluding deferred financing costs and amounts capitalized)     18,659 17,785
Noncash investing and financing activities:        
Accrued capital additions     40,344 48,540
Capital lease and lease financing obligations assumed       43,832
Land 7,440 1,130 7,440 1,130
Buildings, improvements and equipment 80,390 78,898 80,390 78,898
Construction in process 13,900 12,127 13,900 12,127
Rents and other receivables, net (2,033) 13,704 (2,033) 13,704
Acquired intangibles 34,281 93,400 34,281 93,400
Deferred costs 4,391   4,391  
Prepaid expenses 479 1,653 479 1,653
Goodwill     (7,895) 174,697
Other assets 303 633 303 633
Capital lease and lease financing obligations   (43,832)   (43,832)
Accounts payable and accrued liabilities (922) (8,586) (922) (8,586)
Advance rents, security deposits and other liabilities (1,343) (2,468) (1,343) (2,468)
Deferred income 35 (10,818) 35 (10,818)
Deferred income taxes (6,045) (21,673) (6,045) (21,673)
Total acquisitions, net of cash acquired     122,981 288,865
Qualitytech, LP [Member]        
Cash flow from operating activities:        
Net income 6,538 8,238 19,204 18,795
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization     89,104 57,347
Amortization of deferred loan costs     2,424 2,372
Amortization of senior notes discount     194 184
Equity-based compensation expense     7,887 5,206
Bad debt expense     1,201 640
Write off of deferred loan costs       83
Deferred tax benefit     (9,298) (5,695)
Changes in operating assets and liabilities        
Rents and other receivables, net     (9,191) (2,382)
Prepaid expenses     (2,854) (4,713)
Other assets     (967) (352)
Accounts payable and accrued liabilities     3,359 (2,427)
Advance rents, security deposits and other liabilities     984 (437)
Deferred income     1,448 3,698
Net cash provided by operating activities     103,495 72,319
Cash flow from investing activities:        
Acquisitions, net of cash acquired     (122,981) (288,865)
Additions to property and equipment     (197,751) (252,156)
Net cash used in investing activities     (320,732) (541,021)
Cash flow from financing activities:        
Credit facility proceeds     267,000 420,162
Debt repayment     (259,002) (260,000)
Payment of deferred financing costs     (35) (577)
Payment of cash dividends     (45,371) (32,756)
Partnership distributions     (7,189) (6,652)
Payments to net settle equity awards     (1,252)  
Principal payments on capital lease obligations     (9,612) (4,415)
Mortgage principal debt repayments       (16,600)
Equity proceeds, net of costs     275,663 369,482
Net cash provided by financing activities     220,202 468,644
Net increase (decrease) in cash and cash equivalents     2,965 (58)
Cash and cash equivalents, beginning of period     8,804 10,788
Cash and cash equivalents, end of period 11,769 10,730 11,769 10,730
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
Cash paid for interest (excluding deferred financing costs and amounts capitalized)     18,659 17,785
Noncash investing and financing activities:        
Accrued capital additions     40,344 48,540
Capital lease and lease financing obligations assumed       43,832
Land 7,440 1,130 7,440 1,130
Buildings, improvements and equipment 80,390 78,898 80,390 78,898
Construction in process 13,900 12,127 13,900 12,127
Rents and other receivables, net (2,033) 13,704 (2,033) 13,704
Acquired intangibles 34,281 93,400 34,281 93,400
Deferred costs 4,391   4,391  
Prepaid expenses 479 1,653 479 1,653
Goodwill     (7,895) 174,697
Other assets 303 633 303 633
Capital lease and lease financing obligations   (43,832)   (43,832)
Accounts payable and accrued liabilities (922) (8,586) (922) (8,586)
Advance rents, security deposits and other liabilities (1,343) (2,468) (1,343) (2,468)
Deferred income 35 (10,818) 35 (10,818)
Deferred income taxes $ (6,045) $ (21,673) (6,045) (21,673)
Total acquisitions, net of cash acquired     $ 122,981 $ 288,865