| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||
Net income | |||||||||
379,290 | 554,281 | 598,198 | 583,707 | 570,940 | 532,117 | 432,024 | 0 | 0 | 0 |
Adjustments to reconcile net (loss) income to cash flows provided by operating activities: | |||||||||
Non-cash leasing and financing adjustments | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Direct financing and sales-type lease adjustments | |||||||||
- | - | - | - | - | 45,404 | 47,562 | 0 | 0 | 0 |
Stock-based compensation | |||||||||
5,522 | 5,223 | 4,681 | 3,900 | 3,002 | 2,342 | 2,867 | 0 | 0 | 0 |
Depreciation | |||||||||
3,768 | 3,831 | 3,877 | 3,806 | 3,710 | 3,686 | 3,508 | 0 | 0 | 0 |
Amortization of debt issuance costs and original issue discount | |||||||||
37,868 | 33,034 | 19,679 | 6,358 | 5,947 | 5,976 | 4,633 | 0 | 0 | 0 |
Change in allowance for credit losses | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Impairment of Real Estate | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Loss on extinguishment of debt | |||||||||
-97,202 | -58,143 | 0 | 0 | 0 | -23,040 | -61,528 | 0 | 0 | 0 |
Deferred income taxes | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Change in operating assets and liabilities: | |||||||||
Other assets | |||||||||
1,309 | 5,635 | 9,288 | 26,190 | 26,360 | 22,945 | 26,768 | 0 | 0 | 0 |
Accrued interest | |||||||||
26,460 | 5,969 | 273 | -289 | -685 | -7,411 | 23,672 | 0 | 0 | 0 |
Deferred revenue | |||||||||
121 | 26,735 | -451 | -71,956 | -60,574 | -24,512 | 665 | 0 | 0 | 0 |
Other liabilities | |||||||||
-142 | 339 | 4,723 | 33,122 | 24,277 | 25,207 | 31,456 | 0 | 0 | 0 |
Net cash provided by operating activities | |||||||||
703,963 | 682,159 | 612,764 | 520,361 | 497,241 | 504,082 | 457,957 | 0 | 0 | 0 |
Cash flows from investing activities | |||||||||
Investments in leases - financing receivables | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Investments in loans | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Investments in direct financing and sales-type leases | |||||||||
1,547,877 | 1,812,404 | 1,794,290 | 1,742,270 | 1,036,034 | 771,507 | 1,643,995 | 0 | 0 | 0 |
Principal repayments of lease financing receivables | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Capitalized transaction costs | |||||||||
8,903 | 8,698 | 5,342 | 7,885 | 7,265 | 6,780 | 3,442 | 0 | 0 | 0 |
Lease modification fee | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Investments in short-term investments | |||||||||
415,570 | 440,353 | 961,230 | 999,991 | 967,094 | 942,311 | 421,434 | 0 | 0 | 0 |
Maturities of short-term investments | |||||||||
772,448 | 901,756 | 939,139 | 942,311 | 610,216 | 421,434 | 100,758 | 0 | 0 | 0 |
Proceeds from sale of land | |||||||||
0 | 1,044 | 1,044 | 1,230 | 1,230 | 186 | 186 | 0 | 0 | 0 |
Acquisition of property and equipment | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Acquisition of property and equipment | |||||||||
- | - | - | - | - | 899 | 795 | 0 | 0 | 0 |
Net cash used in investing activities | |||||||||
-2,099,798 | -1,361,379 | -1,664,263 | -1,649,428 | -1,241,692 | -1,140,877 | -1,968,722 | 0 | 0 | 0 |
Cash flows from financing activities | |||||||||
Proceeds from offering of common stock | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Proceeds from offering of common stock, net | |||||||||
0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 | - |
Proceeds from private placement of common stock | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Proceeds from February 2020 Senior Unsecured Notes | |||||||||
0 | - | - | - | 0 | - | - | - | - | 0 |
Payment of debt | |||||||||
- | - | - | - | - | - | 0 | 0 | 0 | - |
Payment of Revolving Credit Facility | |||||||||
- | - | - | - | - | - | 0 | 0 | 0 | - |
Redemption of Second Lien Notes | |||||||||
0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 | - |
Repurchase of stock for tax withholding | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Debt issuance costs | |||||||||
107,730 | 56,055 | 7,727 | 5,485 | 391 | 1,117 | 32,618 | 0 | 0 | 0 |
Proceeds from unrecognized sale of real estate | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Mandatory debt conversion costs | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Distributions to non-controlling interest | |||||||||
8,095 | 8,084 | 8,034 | 8,004 | 7,975 | 9,800 | 7,819 | 0 | 0 | 0 |
Dividends paid | |||||||||
524,750 | 503,958 | 473,245 | 437,822 | 379,023 | 262,682 | 156,296 | 0 | 0 | 0 |
Net cash provided by financing activities | |||||||||
3,144,277 | 1,182,666 | 1,369,728 | 1,408,071 | 435,070 | 1,037,836 | 1,600,275 | 0 | 0 | 0 |
Net increase in cash, cash equivalents and restricted cash | |||||||||
1,748,442 | 503,446 | 318,229 | 279,004 | -309,381 | 401,041 | 89,510 | 0 | 0 | 0 |
Supplemental cash flow information: | |||||||||
Cash paid for interest | |||||||||
206,562 | 209,379 | 211,894 | 210,971 | 207,775 | 213,309 | 187,186 | 0 | 0 | 0 |
Cash paid for income taxes | |||||||||
1,890 | 2,590 | 2,301 | 1,851 | 2,075 | 1,375 | 1,174 | 0 | 0 | 0 |
Supplemental non-cash investing and financing activity: | |||||||||
Dividends declared, not paid | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
CPLV CMBS Debt prepayment penalty reimbursement receivable from Eldorado | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Supplemental non-cash investing and financing activity: | |||||||||
Dividends declared, not paid | |||||||||
0 | - | 0 | 0 | 0 | - | - | - | - | - |
Lease liabilities arising from obtaining right-of-use assets | |||||||||
- | - | - | - | - | 0 | 0 | 0 | 0 | 0 |
Lease liabilities arising from obtaining right-of-use assets | |||||||||
17,591 | 16,066 | 0 | 0 | 0 | - | - | - | - | 0 |
Deferred transaction costs payable | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Transfer of investments in operating leases to land | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Transfer of investments in direct financing leases to investments in operating leases | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
CPLV CMBS Debt | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Term Loan B Facility | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Proceeds from debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Second Lien Notes | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Prior Term Loan | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Prior First Lien Notes | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Mezzanine Debt | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Revolving Credit Facility | |||||||||
Payment of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Proceeds from debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |