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INTERIM CONSOLIDATED FINANCIAL STATEMENTS STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flow from operating activities:    
Net income (loss) $ (252) $ 5,568
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 34,580 32,970
Amortization of above and below market leases 139 259
Amortization of deferred loan costs 962 872
Amortization of senior notes discount   68
Equity-based compensation expense 3,481 3,082
Bad debt expense (recoveries) (863) 314
Deferred tax benefit (2,402) (1,581)
Restructuring costs, net of cash paid 8,020  
Changes in operating assets and liabilities    
Rents and other receivables, net 2,753 (1,084)
Prepaid expenses (4,165) (3,253)
Other assets (3,339) (800)
Accounts payable and accrued liabilities 9,619 (11,815)
Advance rents, security deposits and other liabilities (354) 4,144
Deferred income 3,374 1,791
Net cash provided by operating activities 51,553 30,535
Cash flow from investing activities:    
Acquisitions, net of cash acquired (24,626)  
Additions to property and equipment (103,936) (66,119)
Net cash used in investing activities (128,562) (66,119)
Cash flow from financing activities:    
Credit facility proceeds 102,000 67,000
Credit facility repayments (95,000)  
Debt proceeds   1,920
Payment of deferred financing costs (499) (4)
Payment of dividends (19,670) (17,222)
Distribution to noncontrolling interests (2,552) (2,442)
Proceeds from exercise of stock options   42
Payment of tax withholdings related to equity based awards (867) (1,770)
Principal payments on capital lease obligations (2,324) (3,249)
Mortgage principal debt repayments (16) (14)
Preferred Stock issuance proceeds, net of costs 103,615  
Net cash provided by financing activities 84,687 44,261
Net increase in cash and cash equivalents 7,678 8,677
Cash and cash equivalents, beginning of period 8,243 9,580
Cash and cash equivalents, end of period 15,921 18,257
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 4,720 9,368
Noncash investing and financing activities:    
Accrued capital additions 102,489 39,673
Increase in other assets related to change in fair value of interest rate swaps 5,982  
Accrued equity issuance costs 432  
Accrued preferred stock dividend 328  
Qualitytech, LP    
Cash flow from operating activities:    
Net income (loss) (252) 5,568
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 34,580 32,970
Amortization of above and below market leases 139 259
Amortization of deferred loan costs 962 872
Amortization of senior notes discount   68
Equity-based compensation expense 3,481 3,082
Bad debt expense (recoveries) (863) 314
Deferred tax benefit (2,402) (1,581)
Restructuring costs, net of cash paid 8,020  
Changes in operating assets and liabilities    
Rents and other receivables, net 2,753 (1,084)
Prepaid expenses (4,165) (3,253)
Other assets (3,339) (800)
Accounts payable and accrued liabilities 9,619 (11,815)
Advance rents, security deposits and other liabilities (354) 4,144
Deferred income 3,374 1,791
Net cash provided by operating activities 51,553 30,535
Cash flow from investing activities:    
Acquisitions, net of cash acquired (24,626)  
Additions to property and equipment (103,936) (66,119)
Net cash used in investing activities (128,562) (66,119)
Cash flow from financing activities:    
Credit facility proceeds 102,000 67,000
Credit facility repayments (95,000)  
Debt proceeds   1,920
Payment of deferred financing costs (499) (4)
Payment of dividends (19,670) (17,222)
Partnership distributions (2,552) (2,442)
Proceeds from exercise of stock options   42
Payment of tax withholdings related to equity based awards (867) (1,770)
Principal payments on capital lease obligations (2,324) (3,249)
Mortgage principal debt repayments (16) (14)
Preferred Stock issuance proceeds, net of costs 103,615  
Net cash provided by financing activities 84,687 44,261
Net increase in cash and cash equivalents 7,678 8,677
Cash and cash equivalents, beginning of period 8,243 9,580
Cash and cash equivalents, end of period 15,921 18,257
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 4,720 9,368
Noncash investing and financing activities:    
Accrued capital additions 102,489 $ 39,673
Increase in other assets related to change in fair value of interest rate swaps 5,982  
Accrued equity issuance costs 432  
Accrued preferred stock dividend $ 328