XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (91,070) $ 18,907
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization and depreciation 47,035 38,075
Amortization of finance lease and telecom real property interest liabilities discount 917 733
Impairment - decommissions 2,550 2,037
Realized and unrealized loss (gain) on foreign currency debt 27,461 (82,899)
Amortization of debt discount and deferred financing costs 3,504 2,715
Provision for bad debt expense 303 207
Share-based compensation 10,573 10,088
Deferred income taxes (5,632) (5,626)
Gain on extinguishment of debt   (942)
Change in assets and liabilities:    
Trade receivables, net (2,232) (881)
Prepaid expenses and other assets 3,123 (507)
Accounts payable, accrued expenses and other long-term liabilities 9,265 5,483
Rent received in advance 6,318 2,414
Net cash provided by (used in) operating activities 12,115 (10,196)
Cash flows from investing activities:    
Investments in real property interests and related intangible assets (150,402) (259,721)
Advance deposits made for real property interest investments (138) (22,686)
Proceeds from sales of real property interests 262  
Proceeds from maturities of short-term investments 20,000  
Purchases of property and equipment (348) (195)
Net cash used in investing activities (130,626) (282,602)
Cash flows from financing activities:    
Proceeds from borrowings under debt agreements 158,760 427,003
Repayments of term loans and other debt   (112,129)
Debt issuance costs (2,933) (12,571)
Proceeds from exercises of stock options 257 260
Repayments of finance lease and telecom real property interest liabilities (16,408) (7,407)
Net cash provided by financing activities 139,676 295,156
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash 3,147 (19,208)
Net change in cash and cash equivalents and restricted cash 24,312 (16,850)
Cash and cash equivalents and restricted cash at beginning of period 314,283 632,193
Cash and cash equivalents and restricted cash at end of period 338,595 615,343
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 32,793 30,063
Cash paid for income taxes $ 2,684 $ 1,371