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INTERIM CONSOLIDATED FINANCIAL STATEMENTS STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flow from operating activities:    
Net income (loss) $ 21,148 $ (252)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 37,247 34,580
Amortization of above and below market leases 64 139
Amortization of deferred loan costs 978 962
Equity-based compensation expense 3,300 3,481
Bad debt recoveries   (863)
Gain on sale of real estate, net (13,408)  
Deferred tax expense (benefit) 111 (2,402)
Restructuring costs, net of cash paid   8,020
Changes in operating assets and liabilities    
Rents and other receivables, net (1,804) 2,753
Prepaid expenses (2,762) (4,165)
Other assets (419) (3,339)
Accounts payable and accrued liabilities (6,866) 9,619
Advance rents, security deposits and other liabilities 1,653 (354)
Deferred income 4,926 3,374
Net cash provided by operating activities 44,168 51,553
Cash flow from investing activities:    
Proceeds from sale of property, net 52,722  
Acquisitions, net of cash acquired   (24,626)
Additions to property and equipment (101,234) (103,936)
Net cash used in investing activities (48,512) (128,562)
Cash flow from financing activities:    
Credit facility proceeds 93,000 102,000
Credit facility repayments (210,000) (95,000)
Payment of deferred financing costs (173) (499)
Payment of preferred stock dividends (7,045)  
Payment of common stock dividends (20,961) (19,670)
Distribution to noncontrolling interests (2,735) (2,552)
Proceeds from exercise of stock options 2,687  
Payment of tax withholdings related to equity-based awards (2,062) (867)
Principal payments on capital lease obligations   (2,324)
Principal payments on finance lease obligations (799)  
Mortgage principal debt repayments (9) (16)
Preferred stock issuance proceeds, net of costs   103,615
Common stock issuance proceeds, net of costs 159,360  
Net cash provided by financing activities 11,263 84,687
Net increase in cash and cash equivalents 6,919 7,678
Cash and cash equivalents, beginning of period 11,759 8,243
Cash and cash equivalents, end of period 18,678 15,921
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 9,461 4,720
Noncash investing and financing activities:    
Accrued capital additions 69,963 102,489
Net increase (decrease) in other assets/liabilities related to change in fair value of derivative contracts (9,853) 5,982
Equity received in unconsolidated entity in exchange for real estate assets 25,280  
Increase in assets in exchange for finance lease obligation 45,024  
Accrued equity issuance costs 918 432
Accrued preferred stock dividend 5,938 328
Qualitytech, LP    
Cash flow from operating activities:    
Net income (loss) 21,148 (252)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 37,247 34,580
Amortization of above and below market leases 64 139
Amortization of deferred loan costs 978 962
Equity-based compensation expense 3,300 3,481
Bad debt recoveries   (863)
Gain on sale of real estate, net (13,408)  
Deferred tax expense (benefit) 111 (2,402)
Restructuring costs, net of cash paid   8,020
Changes in operating assets and liabilities    
Rents and other receivables, net (1,804) 2,753
Prepaid expenses (2,762) (4,165)
Other assets (419) (3,339)
Accounts payable and accrued liabilities (6,866) 9,619
Advance rents, security deposits and other liabilities 1,653 (354)
Deferred income 4,926 3,374
Net cash provided by operating activities 44,168 51,553
Cash flow from investing activities:    
Proceeds from sale of property, net 52,722  
Acquisitions, net of cash acquired   (24,626)
Additions to property and equipment (101,234) (103,936)
Net cash used in investing activities (48,512) (128,562)
Cash flow from financing activities:    
Credit facility proceeds 93,000 102,000
Credit facility repayments (210,000) (95,000)
Payment of deferred financing costs (173) (499)
Payment of preferred stock dividends (7,045)  
Payment of cash dividends (20,961) (19,670)
Partnership distributions (2,735) (2,552)
Proceeds from exercise of stock options 2,687  
Payment of tax withholdings related to equity-based awards (2,062) (867)
Principal payments on capital lease obligations   (2,324)
Principal payments on finance lease obligations (799)  
Mortgage principal debt repayments (9) (16)
Preferred stock issuance proceeds, net of costs   103,615
Common stock issuance proceeds, net of costs 159,360  
Net cash provided by financing activities 11,263 84,687
Net increase in cash and cash equivalents 6,919 7,678
Cash and cash equivalents, beginning of period 11,759 8,243
Cash and cash equivalents, end of period 18,678 15,921
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 9,461 4,720
Noncash investing and financing activities:    
Accrued capital additions 69,963 102,489
Net increase (decrease) in other assets/liabilities related to change in fair value of derivative contracts (9,853) 5,982
Equity received in unconsolidated entity in exchange for real estate assets 25,280  
Increase in assets in exchange for finance lease obligation 45,024  
Accrued equity issuance costs 918 432
Accrued preferred stock dividend $ 5,938 $ 328