QTS Realty Trust, Inc. QTS Cash Flow

Qts realty trust, inc. (QTS)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13
Cash flow from operating activities:
Net income
18,637	31,665	41,673	28,193	14,225	-7,175	-29,690	-15,404	-4,363	1,457	23,051	22,195	23,394	24,685	24,538	26,238	25,951	24,129	24,643	20,411	18,812	19,103	17,257	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
166,654	160,528	153,783	149,569	146,021	143,354	143,149	140,946	138,195	136,585	132,493	130,312	130,466	120,805	115,025	107,066	91,445	83,605	72,604	63,134	58,275	55,327	50,706	0	0	0
Non-cash integration costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Amortization of above and below market leases
226	200	200	300	425	500	601	721	780	900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred loan costs
3,877	3,877	3,856	3,956	3,856	3,856	3,803	3,725	3,768	3,640	3,598	3,474	3,344	3,285	3,233	3,222	3,203	3,181	3,151	2,944	2,882	2,673	2,390	0	0	0
Amortization of senior notes discount
-	-	-	-	-	-	-	-	-	229	273	269	265	261	257	252	249	247	0	0	0	-	-	-	-	0
Distributions from unconsolidated entity
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in net loss of unconsolidated entity
-1,876	-1,473	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity-based compensation expense
17,987	16,412	15,583	15,088	14,791	14,972	14,797	14,528	14,262	13,863	13,204	12,149	11,616	10,584	9,645	9,076	7,707	6,964	6,458	5,315	4,549	4,153	3,479	0	0	0
Bad debt expense
5,886	2,406	90	-795	-1,173	-2,275	144	1,184	2,342	3,519	2,301	2,049	1,539	1,752	1,884	1,765	1,792	1,323	838	697	510	600	773	0	0	0
Gain on sale of real estate, net
-	14,769	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write off of deferred loan costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Deferred tax expense (benefit)
729	348	-919	330	457	2,970	8,794	10,206	11,563	10,742	6,244	8,091	9,147	10,171	0	0	0	-	-	-	-	-	-	-	-	0
Restructuring costs, net of cash paid
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency remeasurement income
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Changes in operating assets and liabilities
Rents and other receivables, net
22,303	27,234	23,672	6,579	11,291	6,495	8,792	11,196	9,044	12,881	15,428	10,866	15,012	17,101	7,947	9,416	3,102	1,138	4,231	4,893	5,743	1,745	2,315	0	0	0
Prepaid expenses
3,808	3,406	1,116	-897	1,660	3,063	2,219	1,213	157	-755	-2,721	-167	-961	-158	323	1,388	2,840	2,182	3,734	1,525	1,657	1,266	1,567	0	0	0
Due to/from affiliates, net
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other assets
-216	-35	4,086	-2,226	-7,438	-4,518	-7,709	-2,744	2,257	-282	-39	677	1,232	561	5,631	5,169	5,335	5,016	1,021	147	115	73	-133	0	0	0
Accounts payable and accrued liabilities
17,286	2,973	-1,081	-6,777	-8,186	8,573	12,315	6,104	16,363	-5,071	-1,214	-6,740	6,564	6,290	15,253	16,498	2,754	9,467	-3,257	-2,308	-8,186	-8,663	7,228	0	0	0
Advance rents, security deposits and other liabilities
-771	-5,845	-2,694	-2,901	4,076	2,069	3,055	1,115	993	5,491	8,455	10,220	8,593	5,959	658	1,175	609	-763	-352	-349	109	41	-38	0	0	0
Deferred income
1,394	5,928	9,887	7,497	9,822	8,270	9,311	9,436	4,895	3,312	4,137	5,127	7,235	5,038	-5,847	-4,134	-4,873	-3,597	4,700	4,242	3,296	2,639	2,173	0	0	0
Net cash provided by operating activities
226,384	199,490	194,401	199,178	183,888	191,273	196,169	184,465	191,341	170,323	170,558	162,676	171,655	153,794	140,963	136,946	108,522	109,787	94,721	85,450	73,762	73,757	80,990	0	0	0
Cash flow from investing activities:
Accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Deferred income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, net
-	54,427	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Acquisitions, net of cash acquired
0	-	-	-	-	117,029	0	0	0	-	-	-	-	-	-	-	-	292,685	0	0	0	-	-	-	-	0
Additions to property and equipment
431,144	361,160	372,961	440,938	481,601	484,303	452,564	416,348	345,131	307,314	319,125	270,420	267,971	279,905	265,653	299,211	324,712	320,058	297,293	257,138	215,379	201,145	203,971	0	0	0
Net cash used in investing activities
-511,763	-387,260	-468,384	-523,486	-518,503	-598,553	-568,049	-561,497	-496,795	-434,352	-416,224	-325,525	-441,038	-452,972	-391,806	-425,364	-616,749	-612,095	-586,158	-563,767	-306,443	-292,209	-295,035	0	0	0
Cash flow from financing activities:
Credit facility proceeds
518,945	399,028	477,149	465,311	474,000	483,000	979,000	1,010,000	923,000	888,000	528,000	452,000	555,000	574,000	518,000	552,000	692,000	671,162	460,162	438,162	277,662	270,500	245,000	0	0	0
Credit facility repayments
-	334,000	334,000	210,000	477,000	362,000	0	0	0	-	-	-	-	-	-	-	-	386,998	0	0	0	-	-	-	-	0
Debt Proceeds
-	-	-	-	-	-	-	-	-	1,920	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
4.75% Notes Issuance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Payment of deferred financing costs
4,962	5,130	3,537	3,499	3,638	3,964	11,271	11,430	11,357	10,862	0	0	0	-	-	-	-	3,649	793	9,452	9,849	9,864	10,638	0	0	0
Payment of preferred stock dividends
28,180	28,180	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of common stock dividends
98,751	94,085	90,676	87,270	83,870	82,579	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of cash dividends
-	-	-	-	-	-	-	-	-	-	-	-	66,614	-	58,507	54,323	50,554	45,892	41,171	36,503	33,776	32,198	23,783	0	0	0
Partnership distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Distribution to noncontrolling interests
11,732	11,533	11,336	11,139	10,942	10,759	10,581	10,491	10,399	10,289	10,162	9,982	9,875	9,619	9,402	9,175	8,877	8,865	8,769	8,809	9,211	9,049	6,932	0	0	0
Proceeds from exercise of stock options
1,978	3,857	0	0	0	-	-	-	-	4,972	4,947	854	800	858	0	0	0	-	-	-	-	-	-	-	-	-
Payment of tax withholdings related to equity based awards
4,131	3,900	3,867	3,495	3,400	2,205	2,896	3,494	3,822	4,725	3,783	3,747	3,559	2,584	0	0	0	-	-	-	-	-	-	-	-	-
Payments to net settle equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Principal payments on finance lease obligations
2,676	2,855	3,727	4,870	6,101	7,626	8,501	9,993	11,299	12,224	12,853	12,693	12,621	12,600	12,874	12,904	10,438	7,677	4,615	1,613	1,046	753	733	0	0	0
Mortgage principal debt repayments
68	65	66	60	59	66	59	64	56	54	0	0	0	-	-	-	-	86,600	17,174	17,739	2,278	2,239	2,024	0	0	0
Preferred stock issuance proceeds, net of costs
192,159	268,259	268,253	158,088	463,222	407,477	0	0	0	-	-	-	-	-	-	-	-	369,372	0	0	0	-	-	-	-	-
Equity issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	0
Net cash provided by financing activities
438,582	191,396	272,663	282,468	337,372	410,796	376,488	386,896	303,118	262,692	243,168	192,677	277,896	299,954	251,882	290,450	512,223	500,324	497,122	481,571	230,501	224,030	211,364	0	0	0
Effect of foreign currency exchange rates on cash and cash equivalents
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
153,279	3,894	-361	-41,831	2,757	3,516	4,608	9,864	-2,336	-1,337	-2,498	29,828	8,513	776	1,039	2,032	3,996	-1,984	5,685	3,255	-2,180	5,578	-2,681	0	0	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest (excluding deferred financing costs and amounts capitalized)
55,932	56,023	55,819	53,561	56,121	51,380	54,894	58,487	39,709	44,357	23,997	22,413	19,961	19,897	18,901	18,162	17,892	18,027	18,136	10,843	13,015	4,950	6,594	0	0	0
Noncash investing and financing activities:
Accrued capital additions
147,993	92,206	42,588	52,962	44,364	76,890	122,912	96,779	138,781	75,965	28,455	70,337	42,533	40,431	44,356	13,174	28,631	52,552	51,288	62,857	64,436	39,129	76,182	0	0	0
Net decrease in other assets/liabilities related to change in fair value of derivative contracts
-54,196	-28,952	-43,271	-36,109	-14,940	895	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity received in unconsolidated entity in exchange for real estate assets
-	25,280	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Increase in assets in exchange for finance lease obligation
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued equity issuance costs
-844	30	173	-277	601	115	0	0	0	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	0
Accrued preferred stock dividends
5,938	5,938	4,796	9,300	11,548	5,938	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease and lease financing obligations assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Acquisitions, net of cash acquired:
Acquired intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Prepaid expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-
Total acquisitions, net of cash acquired
0	-	-	-	-	117,029	0	0	0	-	-	-	-	-	-	-	-	292,685	0	0	0	-	-	-	-	0
Member advances exchanged for LP units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Qualitytech, LP
Net income
18,637	31,665	41,673	28,193	14,225	-7,175	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
166,654	160,528	153,783	149,569	146,021	143,354	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of above and below market leases
213	187	206	316	390	465	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred loan costs
3,886	3,877	3,909	3,890	3,872	3,856	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from unconsolidated entity
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in net loss of unconsolidated entity
-1,876	-1,473	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity-based compensation expense
17,987	16,412	15,583	15,088	14,791	14,972	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
5,886	2,406	90	-795	-1,173	-2,275	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate, net
-	14,769	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax expense (benefit)
729	348	-919	330	457	2,970	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring costs, net of cash paid
-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency remeasurement income
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rents and other receivables, net
22,303	27,234	23,672	6,579	11,291	6,495	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses
3,808	3,406	1,116	-897	1,660	3,063	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Due to/from affiliates, net
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-216	-35	4,086	-2,226	-7,438	-4,518	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
17,286	2,973	-1,081	-6,777	-8,186	8,573	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance rents, security deposits and other liabilities
-771	-5,845	-2,694	-2,901	4,076	2,069	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income
1,394	5,928	9,887	7,497	9,822	8,270	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
226,384	199,490	194,401	199,178	183,888	191,273	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, net
-	54,427	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions, net of cash acquired
0	-	-	-	-	117,029	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property and equipment
431,144	361,160	372,961	440,938	481,601	484,303	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-511,763	-387,260	-468,384	-523,486	-518,503	-598,553	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit facility proceeds
518,945	399,028	477,149	465,311	474,000	483,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit facility repayments
-	334,000	334,000	210,000	477,000	362,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred financing costs
4,962	5,130	3,537	3,499	3,638	3,964	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of preferred stock dividends
28,180	28,180	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of cash dividends
98,751	94,085	90,676	87,270	83,870	82,579	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Partnership distributions
11,732	11,533	11,336	11,139	10,942	10,759	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
1,978	3,857	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of tax withholdings related to equity-based awards
4,131	3,900	3,867	3,495	3,400	2,205	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance lease obligations
2,676	2,855	3,727	4,870	6,101	7,626	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage principal debt repayments
68	65	66	60	59	66	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock issuance proceeds, net of costs
192,159	268,259	268,253	158,088	463,222	407,477	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
438,582	191,396	272,663	282,468	337,372	410,796	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of foreign currency exchange rates on cash and cash equivalents
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash and cash equivalents
153,279	3,894	-361	-41,831	2,757	3,516	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest (excluding deferred financing costs and amounts capitalized)
55,932	56,023	55,819	53,561	56,121	51,380	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued capital additions
147,993	92,206	42,588	52,962	44,364	76,890	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in other assets/liabilities related to change in fair value of derivative contracts
-54,196	-28,952	-43,271	-36,109	-14,940	895	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity received in unconsolidated entity in exchange for real estate assets
-	25,280	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in assets in exchange for finance lease obligation
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued equity issuance costs
-844	30	173	-277	601	115	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued preferred stock dividends
5,938	5,938	4,796	9,300	11,548	5,938	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total acquisitions, net of cash acquired
0	-	-	-	-	117,029	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-