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INTERIM CONSOLIDATED FINANCIAL STATEMENTS STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flow from operating activities:    
Net income (loss) $ (13,577) $ 17,570
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 107,019 100,455
Amortization of above and below market leases 385 699
Amortization of deferred loan costs 2,882 2,737
Amortization of senior notes discount   206
Equity-based compensation expense 11,441 10,507
Bad debt expense (recoveries) (1,625) 1,750
Deferred tax benefit (3,423) (5,371)
Loss on sale of equipment 2,846  
Restructuring costs, net of cash paid 18,960  
Changes in operating assets and liabilities    
Proceeds from sale of property 1,496  
Rents and other receivables, net (3,429) (7,518)
Prepaid expenses (3,265) (291)
Other assets 7,060 (367)
Accounts payable and accrued liabilities 13,241 (4,145)
Advance rents, security deposits and other liabilities 1,044 3,480
Deferred income 6,546 547
Net cash provided by operating activities 146,105 120,259
Cash flow from investing activities:    
Acquisitions, net of cash acquired (36,956) (47,013)
Additions to property and equipment (382,221) (236,971)
Net cash used in investing activities (417,681) (283,984)
Cash flow from financing activities:    
Credit facility proceeds 312,000 221,000
Credit facility repayments (362,000) (81,000)
Debt proceeds   1,920
Payment of deferred financing costs (609) (200)
Payment of Preferred Stock dividend (2,541)  
Payment of common stock dividends (61,612) (54,919)
Distribution to noncontrolling interests (8,024) (7,732)
Proceeds from exercise of stock options 48 4,948
Payment of tax withholdings related to equity-based awards (1,481) (3,310)
Principal payments on capital lease obligations (6,142) (9,865)
Mortgage principal debt repayments (43) (38)
Preferred stock issuance proceeds, net of costs 407,616  
Common stock issuance proceeds, net of costs   92,612
Net cash provided by financing activities 277,212 163,416
Net increase/(decrease) in cash and cash equivalents 5,636 (309)
Cash and cash equivalents, beginning of period 8,243 9,580
Cash and cash equivalents, end of period 13,879 9,271
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 33,296 22,759
Noncash investing and financing activities:    
Accrued capital additions 75,315 28,368
Increase in other assets related to change in fair value of interest rate swaps 9,974 1,785
Accrued equity issuance costs 139 26
Accrued preferred stock dividend 7,080  
Accrued deferred financing costs 4 8
Qualitytech, LP    
Cash flow from operating activities:    
Net income (loss) (13,577) 17,570
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 107,019 100,455
Amortization of above and below market leases 385 699
Amortization of deferred loan costs 2,882 2,737
Amortization of senior notes discount   206
Equity-based compensation expense 11,441 10,507
Bad debt expense (recoveries) (1,625) 1,750
Deferred tax benefit (3,423) (5,371)
Loss on sale of equipment 2,846  
Restructuring costs, net of cash paid 18,960  
Changes in operating assets and liabilities    
Proceeds from sale of property 1,496  
Rents and other receivables, net (3,429) (7,518)
Prepaid expenses (3,265) (291)
Other assets 7,060 (367)
Accounts payable and accrued liabilities 13,241 (4,145)
Advance rents, security deposits and other liabilities 1,044 3,480
Deferred income 6,546 547
Net cash provided by operating activities 146,105 120,259
Cash flow from investing activities:    
Acquisitions, net of cash acquired (36,956) (47,013)
Additions to property and equipment (382,221) (236,971)
Net cash used in investing activities (417,681) (283,984)
Cash flow from financing activities:    
Credit facility proceeds 312,000 221,000
Credit facility repayments (362,000) (81,000)
Debt proceeds   1,920
Payment of deferred financing costs (609) (200)
Payment of Preferred Stock dividend (2,541)  
Payment of cash dividends (61,612) (54,919)
Proceeds from exercise of stock options 48 4,948
Payment of tax withholdings related to equity-based awards (1,481) (3,310)
Principal payments on capital lease obligations (6,142) (9,865)
Mortgage principal debt repayments (43) (38)
Preferred stock issuance proceeds, net of costs 407,616  
Common stock issuance proceeds, net of costs   92,612
Partnership distributions (8,024) (7,732)
Net cash provided by financing activities 277,212 163,416
Net increase/(decrease) in cash and cash equivalents 5,636 (309)
Cash and cash equivalents, beginning of period 8,243 9,580
Cash and cash equivalents, end of period 13,879 9,271
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 33,296 22,759
Noncash investing and financing activities:    
Accrued capital additions 75,315 28,368
Increase in other assets related to change in fair value of interest rate swaps 9,974 1,785
Accrued equity issuance costs 139 26
Accrued preferred stock dividend 7,080  
Accrued deferred financing costs $ 4 $ 8