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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities:        
Net income (loss) $ (3,606) $ 31,665 $ (7,175) $ 1,457
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization   160,528 143,354 136,585
Amortization of above and below market leases   187 465 865
Amortization of deferred loan costs   3,877 3,856 3,640
Amortization of senior notes discount       229
Distributions from unconsolidated entity   3,280    
Equity in (earnings) loss of unconsolidated entity   1,473    
Loss on extinguishment of debt       19,912
Equity-based compensation expense   16,412 14,972 13,863
Bad debt expense (recoveries)   2,406 (2,275) 3,519
Write off of deferred loan costs   1,532 605 80
Deferred tax expense (benefit)   (348) (2,970) (10,742)
(Gain) loss on sale of assets, net   (14,769) 6,994  
Integration, impairment & restructuring costs   11,462 19,575 9,027
Foreign currency remeasurement (gain) loss   50    
Changes in operating assets and liabilities        
Rents and other receivables, net   (27,234) (6,495) (12,881)
Prepaid expenses   (3,406) (3,063) 755
Due to/from affiliates, net   9,284    
Other assets   35 4,518 282
Accounts payable and accrued liabilities   2,973 8,573 (5,071)
Advance rents, security deposits and other liabilities   (5,845) 2,069 5,491
Deferred income   5,928 8,270 3,312
Net cash provided by operating activities   199,490 191,273 170,323
Cash flow from investing activities:        
Proceeds from sale of property   54,427 2,779  
Acquisitions, net of cash acquired   (76,383) (117,029) (127,038)
Investments in unconsolidated entity   4,144    
Additions to property and equipment   (361,160) (484,303) (307,314)
Net cash used in investing activities   (387,260) (598,553) (434,352)
Cash flow from financing activities:        
Credit facility proceeds   399,028 483,000 888,000
Credit facility repayments   (334,000) (362,000) (696,000)
Debt Proceeds       1,920
5.75% Senior Notes Repayment       (300,000)
4.75% Notes Issuance       400,000
Payment of debt extinguishment costs       (13,218)
Payment of deferred financing costs   (5,130) (3,964) (10,862)
Payment of preferred stock dividends   (28,180) (10,728)  
Payment of common stock dividends   (94,085) (82,579) (74,592)
Distribution to noncontrolling interests   (11,533) (10,759) (10,289)
Proceeds from exercise of stock options   3,857 246 4,972
Payment of tax withholdings related to equity based awards   (3,900) (2,205) (4,725)
Principal payments on finance lease obligations   (2,855) (7,626) (12,224)
Mortgage principal debt repayments   (65) (66) (54)
Preferred stock issuance proceeds, net of costs     407,477  
Common stock issuance proceeds, net of costs   268,259   107,549
Net cash provided by financing activities   191,396 410,796 262,692
Effect of foreign currency exchange rates on cash and cash equivalents   268    
Net change in cash and cash equivalents   3,894 3,516 (1,337)
Cash and cash equivalents, beginning of period   11,759 8,243 9,580
Cash and cash equivalents, end of period 15,653 15,653 11,759 8,243
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
Cash paid for interest (excluding deferred financing costs and amounts capitalized)   56,023 51,380 44,357
Noncash investing and financing activities:        
Accrued capital additions   92,206 76,890 75,965
Net increase (decrease) in derivative liabilities related to change in fair value of derivative contracts   (28,952) 895  
Equity received in unconsolidated entity in exchange for real estate assets   25,280    
Accrued preferred stock dividends   5,938 5,938  
Accrued deferred financing costs     76 458
Accrued equity issuance costs   30 115 25
Acquisitions, net of cash acquired:        
Land 1,743 1,743   9,363
Buildings, improvements and equipment 8,640 8,640 445 14,341
Construction in Progress 61,514 61,514 114,283 103,334
Rents and other receivables, net 1,239 1,239    
Acquired intangibles, net 2,628 2,628 2,301  
Deferred costs 906 906    
Prepaid expenses 359 359    
Other assets 128 128    
Accounts payable and accrued liabilities (52) (52)    
Advance rents, security deposits and other liabilities (722) (722)    
Total acquisitions, net of cash acquired   76,383 117,029 127,038
Dulles, Virginia        
Cash flow from financing activities:        
Principal payments on finance lease obligations       (17,785)
Qualitytech, LP        
Cash flow from operating activities:        
Net income (loss) (3,606) 31,665 (7,175) 1,457
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization   160,528 143,354 136,585
Amortization of above and below market leases   187 465 865
Amortization of deferred loan costs   3,877 3,856 3,640
Amortization of senior notes discount       229
Distributions from unconsolidated entity   3,280    
Equity in (earnings) loss of unconsolidated entity   1,473    
Loss on extinguishment of debt       19,912
Equity-based compensation expense   16,412 14,972 13,863
Bad debt expense (recoveries)   2,406 (2,275) 3,519
Write off of deferred loan costs   1,532 605 80
Deferred tax expense (benefit)   (348) (2,970) (10,742)
(Gain) loss on sale of assets, net   (14,769) 6,994  
Integration, impairment & restructuring costs   11,462 19,575 9,027
Foreign currency remeasurement (gain) loss   50    
Changes in operating assets and liabilities        
Rents and other receivables, net   (27,234) (6,495) (12,881)
Prepaid expenses   (3,406) (3,063) 755
Due to/from affiliates, net   9,284    
Other assets   35 4,518 282
Accounts payable and accrued liabilities   2,973 8,573 (5,071)
Advance rents, security deposits and other liabilities   (5,845) 2,069 5,491
Deferred income   5,928 8,270 3,312
Net cash provided by operating activities   199,490 191,273 170,323
Cash flow from investing activities:        
Proceeds from sale of property   54,427 2,779  
Acquisitions, net of cash acquired   (76,383) (117,029) (127,038)
Investments in unconsolidated entity   4,144    
Additions to property and equipment   (361,160) (484,303) (307,314)
Net cash used in investing activities   (387,260) (598,553) (434,352)
Cash flow from financing activities:        
Credit facility proceeds   399,028 483,000 888,000
Credit facility repayments   (334,000) (362,000) (696,000)
Debt Proceeds       1,920
5.75% Senior Notes Repayment       (300,000)
4.75% Notes Issuance       400,000
Payment of debt extinguishment costs       (13,218)
Payment of deferred financing costs   (5,130) (3,964) (10,862)
Payment of preferred stock dividends   (28,180) (10,728)  
Payment of cash dividends   (94,085) (82,579) (74,592)
Partnership distributions   (11,533) (10,759) (10,289)
Proceeds from exercise of stock options   3,857 246 4,972
Payment of tax withholdings related to equity based awards   (3,900) (2,205) (4,725)
Principal payments on finance lease obligations   (2,855) (7,626) (12,224)
Mortgage principal debt repayments   (65) (66) (54)
Preferred stock issuance proceeds, net of costs     407,477  
Common stock issuance proceeds, net of costs   268,259   107,549
Net cash provided by financing activities   191,396 410,796 262,692
Effect of foreign currency exchange rates on cash and cash equivalents   268    
Net change in cash and cash equivalents   3,894 3,516 (1,337)
Cash and cash equivalents, beginning of period   11,759 8,243 9,580
Cash and cash equivalents, end of period 15,653 15,653 11,759 8,243
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
Cash paid for interest (excluding deferred financing costs and amounts capitalized)   56,023 51,380 44,357
Noncash investing and financing activities:        
Accrued capital additions   92,206 76,890 75,965
Net increase (decrease) in derivative liabilities related to change in fair value of derivative contracts   (28,952) 895  
Equity received in unconsolidated entity in exchange for real estate assets   25,280    
Accrued preferred stock dividends   5,938 5,938  
Accrued deferred financing costs     76 458
Accrued equity issuance costs   30 115 25
Acquisitions, net of cash acquired:        
Land 1,743 1,743   9,363
Buildings, improvements and equipment 8,640 8,640 445 14,341
Construction in Progress 61,514 61,514 114,283 103,334
Rents and other receivables, net 1,239 1,239    
Acquired intangibles, net 2,628 2,628 2,301  
Deferred costs 906 906    
Prepaid expenses 359 359    
Other assets 128 128    
Accounts payable and accrued liabilities (52) (52)    
Advance rents, security deposits and other liabilities $ (722) (722)    
Total acquisitions, net of cash acquired   $ 76,383 $ 117,029 127,038
Qualitytech, LP | Dulles, Virginia        
Cash flow from financing activities:        
Principal payments on finance lease obligations       $ (17,785)