| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
41,400 | 1,200 | -83,500 | 19,900 | -20,200 | -14,500 | -15,600 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
417,700 | 334,100 | 258,900 | 183,900 | 141,500 | 118,000 | 89,900 |
Provision for bad debt expense | ||||||
1,700 | 2,600 | 200 | 1,600 | 0 | 800 | 400 |
Unrealized gain on marketable equity investment | ||||||
65,600 | 9,900 | 0 | 0 | - | - | - |
Equity Securities, FV-NI, Realized Gain (Loss) | ||||||
66,700 | 0 | 0 | - | - | - | - |
Foreign currency and derivative gains, net | ||||||
-7,500 | 0 | 0 | - | - | - | - |
Proceeds from swap terminations | ||||||
-3,600 | - | - | - | - | - | - |
Loss on asset disposals | ||||||
-400 | 0 | 0 | - | - | - | - |
Asset Impairment Charges | ||||||
700 | 0 | 58,000 | 5,000 | 13,500 | 0 | 2,800 |
Gain (Loss) on Extinguishment of Debt | ||||||
-71,800 | -3,100 | -36,500 | 0 | 0 | -13,600 | -1,300 |
Interest expense amortization, net | ||||||
5,000 | 4,000 | 4,200 | 4,900 | 3,400 | 3,400 | 4,000 |
Stock-based compensation expense | ||||||
16,700 | 17,500 | 14,700 | 12,300 | 14,400 | 10,300 | 6,000 |
Deferred income tax benefit | ||||||
7,500 | 0 | 0 | - | - | - | 600 |
Operating lease cost | ||||||
20,300 | 0 | 0 | - | - | - | - |
Other income (expense) | ||||||
200 | -600 | 1,500 | 300 | - | - | - |
Change in operating assets and liabilities: | ||||||
Rent and other receivables, net and other assets | ||||||
74,200 | 80,200 | 64,300 | 51,700 | 23,900 | 37,000 | 15,700 |
Accounts payable and accrued expenses | ||||||
-800 | 3,000 | 29,300 | 6,900 | 7,000 | 6,900 | -14,600 |
Deferred revenue and prepaid rents | ||||||
15,600 | 34,500 | 34,000 | -2,500 | 5,400 | 9,800 | -100 |
Operating lease liabilities | ||||||
-22,100 | 0 | 0 | - | - | - | - |
Due to affiliates | ||||||
- | - | - | - | -900 | -200 | 18,400 |
Other | ||||||
- | - | - | - | - | - | 0 |
Net Cash Provided by (Used in) Operating Activities | ||||||
365,700 | 309,300 | 289,500 | 180,600 | 140,200 | 111,100 | 77,400 |
Cash flows from investing activities: | ||||||
Payments to Acquire Other Property, Plant, and Equipment | ||||||
876,400 | 865,700 | 914,500 | 600,000 | 217,200 | 284,200 | 172,900 |
Payments to Acquire Real Estate Held-for-investment | ||||||
0 | 462,800 | 492,300 | 131,100 | 17,300 | 0 | 48,000 |
Proceeds from Sale of Equity Method Investments | ||||||
199,000 | 0 | 0 | - | - | - | - |
Equity investments | ||||||
3,800 | 12,600 | 100,000 | 0 | 0 | - | - |
Proceeds from Sale of Real Estate | ||||||
1,300 | 0 | 0 | - | - | - | - |
Business acquisition, net of cash acquired | ||||||
- | - | - | - | 389,600 | 0 | 0 |
Changes in restricted cash | ||||||
- | - | - | - | - | 0 | 4,400 |
Other | ||||||
- | - | - | - | - | - | 200 |
Net cash used in investing activities | ||||||
-679,900 | -1,341,100 | -1,506,800 | -731,100 | -624,100 | -284,200 | -216,700 |
Cash flows from financing activities: | ||||||
Issuance of common stock, net | ||||||
357,200 | 699,600 | 705,700 | 447,100 | 799,500 | 356,000 | 360,500 |
Stock issuance costs | ||||||
- | - | - | - | 800 | 1,300 | 0 |
IPO costs | ||||||
- | - | - | - | - | - | 26,600 |
Acquisition of operating partnership units | ||||||
- | - | - | - | 596,400 | 355,900 | 0 |
Payments of Dividends | ||||||
210,400 | 181,100 | 145,700 | 114,300 | 80,800 | 50,900 | 31,000 |
Repayments of Senior Debt | ||||||
1,200,000 | 0 | 474,800 | - | 0 | 150,200 | 0 |
Payment for Debt Extinguishment or Debt Prepayment Cost | ||||||
72,000 | 0 | 30,000 | - | 0 | 12,800 | 0 |
Payment of deferred financing costs | ||||||
9,400 | 0 | 16,700 | - | - | - | - |
Proceeds from Issuance of Long-term Debt | ||||||
656,700 | 688,300 | 1,037,300 | 701,300 | - | - | - |
Repayments of Long-term Debt | ||||||
182,500 | 647,400 | 1,275,000 | 461,500 | - | - | 700 |
Proceeds from revolving credit facility | ||||||
- | - | - | - | 260,000 | 315,000 | 0 |
Repayments of revolving credit facility | ||||||
- | - | - | - | 10,000 | 30,000 | 0 |
Proceeds from unsecured term loan | ||||||
0 | 1,300,000 | 350,000 | - | - | - | - |
Repayments of unsecured term loan | ||||||
200,000 | 900,000 | 0 | - | - | - | - |
Proceeds from Issuance of Senior Long-term Debt | ||||||
1,197,400 | 0 | 1,217,800 | - | 103,800 | - | - |
Payment to buyout capital leases | ||||||
- | - | - | - | - | - | 9,600 |
Payment to buyout lease financing arrangements | ||||||
- | - | - | - | - | - | 10,200 |
Debt issuance costs | ||||||
- | - | - | - | 5,400 | 5,200 | 1,300 |
Proceeds from issuance of debt | ||||||
- | - | - | - | - | 0 | 0 |
Repayments of Long-term Capital Lease Obligations | ||||||
2,900 | 9,500 | 9,800 | 9,100 | 5,900 | 3,900 | 5,300 |
Payment of note payable | ||||||
- | - | - | - | 0 | 0 | - |
Proceeds From Issuance Of Senior Long-term Debt, Interest Paid By Others | ||||||
0 | 0 | 2,700 | 0 | 0 | - | - |
Payment, Tax Withholding, Share-based Payment Arrangement | ||||||
9,300 | 5,200 | 6,900 | 14,200 | 800 | 0 | 0 |
Contributions from/(distributions to) parent, net | ||||||
- | - | - | - | - | - | 0 |
Net cash provided by (used in) financing activities | ||||||
324,800 | 944,700 | 1,354,600 | 549,300 | 463,200 | 60,800 | 275,800 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||
2,700 | -400 | 0 | 0 | - | - | - |
Net decrease in cash, cash equivalents and restricted cash | ||||||
13,300 | -87,500 | 137,300 | -1,200 | -20,700 | -112,300 | 136,500 |
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest, including amounts capitalized of $32.9 million, $24.4 million and $17.0 million in 2019, 2018 and 2017, respectively | ||||||
123,000 | 115,400 | 68,800 | 55,000 | 43,700 | 41,300 | 40,700 |
Cash paid for income taxes | ||||||
3,500 | 3,400 | 2,200 | 1,200 | 3,400 | 400 | 0 |
Non-cash investing and financing activities: | ||||||
Capitalized interest | ||||||
- | - | - | - | 6,100 | 4,600 | 1,600 |
Non-cash investing and financing activities: | ||||||
Contribution receivable from Parent related to transaction-related compensation | ||||||
- | - | - | - | - | - | 0 |
Dividends payable | ||||||
- | - | - | - | 23,600 | 14,300 | 10,400 |
Deferred IPO costs | ||||||
- | - | - | - | - | - | 0 |
Acquisition and development of properties in accounts payable and other liabilities | ||||||
- | - | - | - | 59,200 | 26,800 | 35,800 |
Debt assumed in asset acquisition | ||||||
- | - | - | 0 | - | - | - |
Capital lease obligation assumed | ||||||
- | - | - | 0 | - | - | - |
Deferred IPO costs reclassified to additional paid in capital | ||||||
- | - | - | - | - | - | 9,500 |
Reclass of equipment to held for sale | ||||||
- | - | - | - | - | - | 300 |
Noncash additions to fixed assets through lease financing arrangements | ||||||
- | - | - | - | - | - | 4,000 |