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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flow from operating activities:    
Net income (loss) $ 35,271 $ (13,577)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 117,448 107,019
Amortization of above and below market leases 126 385
Amortization of deferred loan costs 2,935 2,882
Equity in (earnings) loss of unconsolidated entity 992  
Equity-based compensation expense 12,052 11,441
Bad debt expense (recoveries) 740 (1,625)
(Gain) loss on sale of assets, net (13,408) 2,846
Deferred tax expense (benefit) 466 (3,423)
Restructuring costs, net of cash paid   18,960
Foreign currency remeasurement (gain) loss (330)  
Changes in operating assets and liabilities    
Rents and other receivables, net (20,606) (3,429)
Prepaid expenses (1,318) (3,265)
Due from affiliates, net 8,378  
Other assets (1,544) 7,060
Accounts payable and accrued liabilities 3,587 13,241
Advance rents, security deposits and other liabilities (3,719) 1,044
Deferred income 8,163 6,546
Net cash provided by operating activities 149,233 146,105
Cash flow from investing activities:    
Proceeds from sale of property, net 52,722 1,496
Acquisitions, net of cash acquired (69,355) (36,956)
Additions to property and equipment (270,879) (382,221)
Net cash used in investing activities (287,512) (417,681)
Cash flow from financing activities:    
Credit facility proceeds 306,149 312,000
Credit facility repayments (334,000) (362,000)
Payment of deferred financing costs (182) (609)
Payment of preferred stock dividends (21,135) (2,541)
Payment of common stock dividends (69,709) (61,612)
Distribution to noncontrolling interests (8,601) (8,024)
Proceeds from exercise of stock options 3,594 48
Payment of tax withholdings related to equity-based awards (3,143) (1,481)
Principal payments on finance lease obligations (2,243) (6,142)
Mortgage principal debt repayments (43) (43)
Preferred stock issuance proceeds, net of costs   407,616
Common stock issuance proceeds, net of costs 268,392  
Net cash provided by financing activities 139,079 277,212
Effect of foreign currency exchange rates on cash and cash equivalents 959  
Net change in cash and cash equivalents 1,759 5,636
Cash and cash equivalents, beginning of period 11,759 8,243
Cash and cash equivalents, end of period 13,518 13,879
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 37,735 33,296
Noncash investing and financing activities:    
Accrued capital additions 41,013 75,315
Net increase (decrease) in other assets/liabilities related to change in fair value of derivative contracts (34,192) 9,974
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 197 139
Accrued preferred stock dividend 5,938 7,080
Qualitytech, LP    
Cash flow from operating activities:    
Net income (loss) 35,271 (13,577)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 117,448 107,019
Amortization of above and below market leases 126 385
Amortization of deferred loan costs 2,935 2,882
Equity in (earnings) loss of unconsolidated entity 992  
Equity-based compensation expense 12,052 11,441
Bad debt expense (recoveries) 740 (1,625)
(Gain) loss on sale of assets, net (13,408) 2,846
Deferred tax expense (benefit) 466 (3,423)
Restructuring costs, net of cash paid   18,960
Foreign currency remeasurement (gain) loss (330)  
Changes in operating assets and liabilities    
Rents and other receivables, net (20,606) (3,429)
Prepaid expenses (1,318) (3,265)
Due from affiliates, net 8,378  
Other assets (1,544) 7,060
Accounts payable and accrued liabilities 3,587 13,241
Advance rents, security deposits and other liabilities (3,719) 1,044
Deferred income 8,163 6,546
Net cash provided by operating activities 149,233 146,105
Cash flow from investing activities:    
Proceeds from sale of property, net 52,722 1,496
Acquisitions, net of cash acquired (69,355) (36,956)
Additions to property and equipment (270,879) (382,221)
Net cash used in investing activities (287,512) (417,681)
Cash flow from financing activities:    
Credit facility proceeds 306,149 312,000
Credit facility repayments (334,000) (362,000)
Payment of deferred financing costs (182) (609)
Payment of preferred stock dividends (21,135) (2,541)
Payment of cash dividends (69,709) (61,612)
Partnership distributions (8,601) (8,024)
Proceeds from exercise of stock options 3,594 48
Payment of tax withholdings related to equity-based awards (3,143) (1,481)
Principal payments on finance lease obligations (2,243) (6,142)
Mortgage principal debt repayments (43) (43)
Preferred stock issuance proceeds, net of costs   407,616
Common stock issuance proceeds, net of costs 268,392  
Net cash provided by financing activities 139,079 277,212
Effect of foreign currency exchange rates on cash and cash equivalents 959  
Net change in cash and cash equivalents 1,759 5,636
Cash and cash equivalents, beginning of period 11,759 8,243
Cash and cash equivalents, end of period 13,518 13,879
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest (excluding deferred financing costs and amounts capitalized) 37,735 33,296
Noncash investing and financing activities:    
Accrued capital additions 41,013 75,315
Net increase (decrease) in other assets/liabilities related to change in fair value of derivative contracts (34,192) 9,974
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 197 139
Accrued preferred stock dividend $ 5,938 $ 7,080