| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||
Net (loss) income | ||||||||||||
-3,489 | 16,167 | 7,098 | 4,431 | 3,846 | 11,166 | 4,663 | 9,539 | 3,950 | -60,346 | 16,485 | 14,953 | 20,328 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||
Depreciation and amortization of property and equipment | ||||||||||||
32,518 | 31,348 | 30,236 | 29,803 | 28,558 | 27,356 | 28,989 | 25,718 | 24,603 | 24,448 | 22,890 | 21,749 | 20,037 |
Loss on disposal of property and equipment | ||||||||||||
-60 | -438 | -41 | -64 | -43 | -397 | -182 | -413 | -214 | -545 | 13 | -17 | -20 |
Deferred income taxes | ||||||||||||
-273 | 1,464 | 610 | 433 | 206 | -121 | 1,212 | 967 | -115 | -981 | 0 | 0 | 0 |
Amortization of debt issuance costs | ||||||||||||
409 | 409 | 409 | 409 | 409 | 409 | 409 | 409 | 409 | 402 | 403 | 245 | 253 |
Credit loss expense (benefit) | ||||||||||||
18 | 7 | -35 | -49 | -23 | 124 | -9 | 9 | 83 | 228 | 167 | -502 | 507 |
Unrealized loss on interest rate swaps | ||||||||||||
-16,745 | 3,435 | -3,684 | -8,780 | -4,985 | 0 | 0 | 0 | 0 | - | - | - | - |
Equity in net losses of investments | ||||||||||||
- | - | - | - | - | 0 | 0 | 0 | -331 | -122 | -221 | -293 | -441 |
Equity-based compensation | ||||||||||||
7,524 | 6,626 | 7,310 | 7,443 | 8,145 | 7,539 | 7,628 | 8,209 | 12,357 | 79,911 | 1,315 | 1,314 | 2,250 |
Amortization of portfolio energy credits | ||||||||||||
267 | 608 | 551 | 326 | 359 | 468 | 1,932 | 35 | 32 | - | - | - | - |
Cost of revenue for sales-type leases | ||||||||||||
2,803 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||||
Accounts receivable | ||||||||||||
-5,944 | 3,485 | 2,977 | 4,194 | -5,164 | 1,688 | 3,360 | -7,938 | 3,077 | 3,072 | 1,038 | -1,890 | 4,215 |
Prepaid expenses | ||||||||||||
-454 | 594 | 2,462 | -2,223 | -58 | 2,849 | -43 | -1,187 | 125 | 950 | 1,322 | -1,029 | -127 |
Other current assets | ||||||||||||
626 | 449 | 69 | -35 | 62 | 41 | 90 | -430 | 530 | 137 | -664 | 355 | 433 |
Other assets | ||||||||||||
-411 | -5,509 | 453 | 2,502 | -893 | 2,245 | 2,255 | 724 | 129 | 473 | 325 | 331 | 92 |
Accounts payable | ||||||||||||
1,987 | -3,583 | 3,184 | 1,708 | -2,201 | -1,250 | 1,437 | -729 | 230 | 3,239 | -656 | -2,216 | 4,712 |
Accrued interest, capital lease obligations | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -53 |
Accrued salaries and benefits | ||||||||||||
1,025 | -6,798 | 2,729 | 4,390 | 249 | -4,713 | 1,546 | 3,746 | -532 | -3,752 | 1,618 | 3,420 | -295 |
Accrued expenses | ||||||||||||
117 | 1,408 | 1,028 | -1,888 | 1,650 | 438 | 1,459 | 98 | 1,314 | -2,314 | 531 | 5,260 | -5,912 |
Deferred revenue | ||||||||||||
-2,261 | -5,063 | 13,092 | 3,735 | 673 | 2,227 | 648 | -779 | 100 | 1,673 | -4,500 | 3,486 | 5,347 |
Customer deposits | ||||||||||||
298 | 388 | 380 | -129 | 229 | 258 | 308 | 392 | 370 | 695 | 241 | 352 | 407 |
Increase (Decrease) in Operating Lease Liabilities | ||||||||||||
-1,281 | - | - | - | -1,198 | - | - | - | - | - | - | - | - |
Other long-term liabilities | ||||||||||||
-92 | -971 | -115 | 817 | -61 | -60 | -58 | -56 | -56 | - | - | - | - |
Net cash provided by operating activities | ||||||||||||
62,558 | 36,217 | 64,241 | 57,033 | 51,922 | 37,415 | 44,684 | 56,802 | 39,429 | 40,812 | 36,720 | 25,640 | 43,429 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
Acquisition of property and equipment | ||||||||||||
80,898 | 86,416 | 121,165 | 54,185 | 45,946 | 54,380 | 60,371 | 99,386 | 61,387 | 118,550 | 64,095 | 112,901 | 107,015 |
Acquisition of intangible asset | ||||||||||||
- | - | - | - | - | - | - | - | - | 0 | -1 | 20 | 13 |
Escrow deposit | ||||||||||||
- | - | - | - | - | - | - | 2,461 | 1,047 | - | 7,632 | -1,350 | 1,350 |
Proceeds from sale of property and equipment | ||||||||||||
0 | 0 | 15 | 2 | 16 | 37 | 25 | 0 | 0 | - | - | - | - |
Proceeds from notes receivable | ||||||||||||
- | - | - | - | - | - | - | - | - | 0 | 194 | 10 | 7 |
Purchase of portfolio energy credits | ||||||||||||
601 | 608 | 551 | 245 | 299 | 609 | 1,932 | 35 | 32 | 105 | 0 | 34 | 30 |
Net cash used in investing activities | ||||||||||||
-81,499 | -87,024 | -121,701 | -54,428 | -46,229 | -54,952 | -58,770 | -101,907 | -62,466 | -111,023 | -71,532 | -111,495 | -108,401 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Proceeds from borrowings | ||||||||||||
70,000 | - | - | - | 0 | - | - | - | - | 0 | 0 | 906,000 | 70,000 |
Repayment of borrowings, including finance lease liabilities | ||||||||||||
1,671 | 2,376 | 1,500 | 1,500 | 1,500 | 1,833 | 1,500 | 1,500 | 1,500 | 233,691 | 1,500 | 617,300 | 2,500 |
Change in long-term deposit | ||||||||||||
1,659 | -1,223 | -393 | -6 | 2,543 | 0 | 0 | -641 | -355 | 598 | 0 | 0 | 0 |
Payment of tax withholdings upon settlement of restricted stock unit awards | ||||||||||||
4,040 | 7 | 98 | 5 | 1,338 | 5 | 7 | 7 | 1,213 | 0 | 0 | 0 | 0 |
Dividends paid to Class A common stockholders | ||||||||||||
2,795 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Distributions paid to noncontrolling interest | ||||||||||||
4,222 | 4,364 | 4,652 | 10,354 | 0 | - | - | - | - | 11,202 | 3,063 | 167,468 | 3,532 |
Net cash provided by (used in) financing activities | ||||||||||||
58,931 | 23,050 | 49,769 | -29,394 | -295 | -5,414 | -65,407 | -9,452 | -3,068 | 326,885 | -6,982 | 113,932 | 63,968 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | ||||||||||||
39,990 | -27,757 | -7,691 | -26,789 | 5,398 | -22,951 | -79,493 | -54,557 | -26,105 | 256,674 | -41,794 | 28,077 | -1,004 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||||||||
Cash paid for interest, net of amounts capitalized | ||||||||||||
7,106 | 6,196 | 6,487 | 6,967 | 6,588 | 6,318 | 6,905 | 6,352 | 5,266 | 6,651 | 8,435 | 4,114 | 4,294 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION: | ||||||||||||
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION: | ||||||||||||
Decrease in liabilities incurred to acquire property and equipment | ||||||||||||
-13,532 | 13,719 | 7,840 | 13,264 | -10,585 | -4,089 | 7,354 | -7,481 | 13,023 | -34,043 | -3,386 | -3,799 | -12,227 |
Decrease in accrued construction payables incurred related to long-term deposit | ||||||||||||
-882 | 179 | 68 | 746 | 0 | - | - | - | - | - | - | - | - |
Increase in property and equipment related to transfer of long-term deposit | ||||||||||||
244 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Increase in dividends payable on unvested restricted stock units | ||||||||||||
96 | 79 | 99 | 95 | 90 | 30 | 34 | 62 | 0 | - | - | - | - |
Decrease in noncontrolling interest as a result of exchanges for Class A common stock | ||||||||||||
13,403 | 15,538 | 18,550 | 67,362 | 0 | - | - | - | - | - | - | - | - |
Recognition of liabilities under tax receivable agreement | ||||||||||||
19,198 | 29,560 | 20,505 | 59,476 | 0 | - | - | - | - | - | - | - | - |
Increase (decrease) in deferred tax asset resulting from changes in outside basis difference on investment in Switch, Ltd. | ||||||||||||
16,610 | 25,774 | 15,671 | 47,871 | -728 | 7,575 | 1,588 | 20,349 | 0 | - | - | - | - |
Property and equipment obtained in exchange for new finance leases | ||||||||||||
145 | - | - | - | - | - | - | - | - | - | - | - | - |
Increase in distributions payable on unvested common units | ||||||||||||
82 | 77 | 73 | 96 | 490 | 0 | 0 | 0 | 0 | - | - | - | - |
Dividends payable settled with shares of Class A common stock | ||||||||||||
129 | 0 | 2 | 0 | 28 | 0 | 0 | 0 | 0 | - | - | - | - |
Distributions used for payment of option loans and related interest | ||||||||||||
- | - | - | - | - | - | - | - | - | 1 | 4 | 165 | 3 |
Dividends and distributions declared but not paid | ||||||||||||
0 | - | - | - | 7,154 | - | - | - | 0 | -6,067 | 336 | 5,765 | 118 |