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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 11,968 $ 10,389
Accounts receivable, net of allowance for doubtful accounts of $1,285 and $1,246, respectively 17,586 18,044
Prepaid expenses and other assets 9,036 10,055
Total current assets 38,590 38,488
Property and equipment, net 441,239 302,680
Investment in joint venture 0 3,002
Intangible assets, net 26,661 27,978
Goodwill 50,209 50,209
Deposits and other assets 10,733 8,258
Total assets 567,432 430,615
Current liabilities:    
Accounts payable 16,732 20,875
Accrued liabilities 13,513 10,603
Deferred revenues 5,054 5,746
Capital lease obligations 11,729 10,030
Term loan, less discount and prepaid costs of $2,119 and $2,243, respectively 881 757
Exit activities and restructuring liability 4,263 3,177
Other current liabilities 3,400 3,171
Total current liabilities 55,572 54,359
Deferred revenues 4,661 5,144
Capital lease obligations 206,927 43,876
Revolving credit facility 0 35,500
Term loan, less discount and prepaid costs of $8,216 and $4,579, respectively 288,034 283,421
Exit activities and restructuring liability 1,537 1,526
Deferred rent 1,581 4,642
Deferred tax liability 1,484 1,513
Other long-term liabilities 3,026 4,358
Total liabilities 562,822 434,339
Commitments and contingencies (note 9)
Stockholders’ equity:    
Preferred stock, $0.001 par value; 20,000 shares authorized; no shares issued or outstanding 0 0
Common stock, $0.001 par value; 200,000 shares authorized; 83,305 and 57,799 shares outstanding, respectively 84 58
Additional paid-in capital 1,325,755 1,283,332
Treasury stock, at cost, 1,164 and 1,073 shares, respectively (7,145) (6,923)
Accumulated deficit (1,316,788) (1,278,699)
Accumulated items of other comprehensive loss (1,334) (1,492)
Total INAP stockholders’ equity 572 (3,724)
Non-controlling interests 4,038 0
Total stockholders’ equity 4,610 (3,724)
Total liabilities and stockholders’ equity $ 567,432 $ 430,615