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Condensed Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Cash flows from operating activities:      
Net income $ 12,475 $ 288,518 $ 176,609
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of properties (9,750) (80,042) (9,608)
Unrealized gain on equity investment   (2,005) 0
Impairment of investments in real estate 28,992 0 28,992
Equity in earnings of unconsolidated joint ventures (5,880) (23,734) (19,592)
Distributions from unconsolidated joint ventures   15,487 26,592
Write-off of net assets due to early lease terminations   1,723 3,075
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases   570,179 409,229
Amortization of acquired in-place lease value and deferred leasing costs   317,355 145,262
Amortization of share-based compensation   21,177 15,590
Non-cash amortization of terminated swaps   858 903
Allowance for (recovery of) doubtful accounts   2,594 (1,320)
Amortization of deferred financing costs   8,926 7,572
Gain on early extinguishment of debt   0 (1,990)
Amortization of debt discount/premium   2,590 2,156
Amortization of acquired above-market leases and acquired below-market leases, net   20,008 (4,857)
Changes in assets and liabilities:      
Accounts and other receivables   (37,498) (41,713)
Deferred rent   (29,474) (7,873)
Deferred leasing costs   (18,986) (14,847)
Other assets   (20,794) (1,635)
Accounts payable and other accrued liabilities   3,671 (52,597)
Security deposits and prepaid rents   (6,704) 21,603
Net cash provided by operating activities   1,033,849 681,551
Cash flows from investing activities:      
Acquisitions of real estate   (116,990) (44,354)
Proceeds from sale of properties, net of sales costs   286,204 20,200
Excess proceeds from forward contracts   0 63,956
Investments in unconsolidated joint ventures   (463) (7,614)
Prepaid construction costs and other investments   (13,514) 0
Improvements to investments in real estate   (946,118) (763,877)
Improvement advances to tenants   (35,223) (37,271)
Collection of improvement advances to tenants   32,328 30,340
Cash assumed in DFT merger   0 20,650
Net cash used in investing activities   (793,776) (717,970)
Cash flows from financing activities:      
Borrowings on global revolving credit facility   1,079,673 1,499,691
Repayments on global revolving credit facility   (1,045,816) (2,035,808)
Repayments on unsecured term loans   (39,095) (354,000)
Borrowings on unsecured senior notes   649,038 2,265,060
Repayments on unsecured senior notes   0 (669,109)
Principal payments on mortgage loans   (440) (105,406)
Borrowings on mortgage loans   0 104,000
Payment of loan fees and costs   (6,272) (15,643)
Capital contributions from (distributions paid to) noncontrolling interests in consolidated joint ventures, net   63,745 (365)
Taxes paid related to net settlement of stock-based compensation awards   (4,952) 0
Proceeds from common and preferred stock offerings, net   (1,292) 405,237
Redemption of preferred stock   0 (182,500)
Proceeds from equity plans   5,874 5,872
Proceeds from forward swap contract   1,560 0
Payment of dividends/distributions to preferred stockholders/unitholders   (60,987) (46,268)
Payment of dividends/distributions to common stockholders/unitholders and distributions to noncontrolling interests in operating partnership   (849,571) (647,217)
Net cash (used in) provided by financing activities   (208,535) 223,544
Net increase in cash, cash equivalents and restricted cash   31,538 187,125
Effect of exchange rate changes on cash, cash equivalents and restricted cash   9,591 1,170
Cash, cash equivalents and restricted cash at beginning of period   13,181 22,036
Cash, cash equivalents and restricted cash at end of period 210,331 54,310 210,331
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized   247,652 167,148
Cash paid for income taxes   7,861 8,454
Supplementary disclosure of noncash investing and financing activities:      
Change in net assets related to foreign currency translation adjustments   (8,608) 25,954
Increase (decrease) in accounts payable and other accrued liabilities related to change in fair value of interest rate swaps and foreign currency hedges   16,336 (8,926)
Acquisition measurement period adjustment to goodwill and accounts payable and other accrued liabilities   0 2,162
Noncontrolling interests in operating partnership converted to shares of common stock   49,696 6,915
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and accrued expenses   193,615 232,459
Addition to leasehold improvements pursuant to capital lease obligation   73,873 0
Allocation of purchase price of real estate/investment in partnership to:      
Investments in real estate   116,990 43,585
Acquired below-market leases   0 (684)
Acquired in-place lease value and deferred leasing costs   0 1,453
Cash paid for acquisition of real estate   116,990 44,354
Assets and liabilities assumed in DFT merger:      
Goodwill   3,373,342  
Redeemable noncontrolling interests -- operating partnership (66,259)   (66,259)
Issuance of preferred stock in connection with merger   1,292  
Digital Realty Trust, L.P.      
Cash flows from operating activities:      
Net income 12,475 288,518 176,609
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of properties (9,750) (80,042) (9,608)
Unrealized gain on equity investment   (2,005) 0
Impairment of investments in real estate 28,992 0 28,992
Equity in earnings of unconsolidated joint ventures (5,880) (23,734) (19,592)
Distributions from unconsolidated joint ventures   15,487 26,592
Write-off of net assets due to early lease terminations   1,723 3,075
Depreciation and amortization of buildings and improvements, tenant improvements and acquired ground leases   570,179 409,229
Amortization of acquired in-place lease value and deferred leasing costs   317,355 145,262
Amortization of share-based compensation   21,177 15,590
Non-cash amortization of terminated swaps   858 903
Allowance for (recovery of) doubtful accounts   2,594 (1,320)
Amortization of deferred financing costs   8,926 7,572
Gain on early extinguishment of debt   0 (1,990)
Amortization of debt discount/premium   2,590 2,156
Amortization of acquired above-market leases and acquired below-market leases, net   20,008 (4,857)
Changes in assets and liabilities:      
Accounts and other receivables   (37,498) (41,713)
Deferred rent   (29,474) (7,873)
Deferred leasing costs   (18,986) (14,847)
Other assets   (20,794) (1,635)
Accounts payable and other accrued liabilities   3,671 (52,597)
Security deposits and prepaid rents   (6,704) 21,603
Net cash provided by operating activities   1,033,849 681,551
Cash flows from investing activities:      
Acquisitions of real estate   (116,990) (44,354)
Proceeds from sale of properties, net of sales costs   286,204 20,200
Excess proceeds from forward contracts   0 63,956
Investments in unconsolidated joint ventures   (463) (7,614)
Prepaid construction costs and other investments   (13,514) 0
Improvements to investments in real estate   (946,118) (763,877)
Improvement advances to tenants   (35,223) (37,271)
Collection of improvement advances to tenants   32,328 30,340
Cash assumed in DFT merger   0 20,650
Net cash used in investing activities   (793,776) (717,970)
Cash flows from financing activities:      
Borrowings on global revolving credit facility   1,079,673 1,499,691
Repayments on global revolving credit facility   (1,045,816) (2,035,808)
Repayments on unsecured term loans   (39,095) (354,000)
Borrowings on unsecured senior notes   649,038 2,265,060
Repayments on unsecured senior notes   0 (669,109)
Principal payments on mortgage loans   (440) (105,406)
Borrowings on mortgage loans   0 104,000
Payment of loan fees and costs   (6,272) (15,643)
Capital contributions from (distributions paid to) noncontrolling interests in consolidated joint ventures, net   63,745 (365)
Taxes paid related to net settlement of stock-based compensation awards   (4,952) 0
General partner contributions, net   4,582 228,609
Proceeds from forward swap contract   1,560 0
Payment of dividends/distributions to preferred stockholders/unitholders   (60,987) (46,268)
Payment of dividends/distributions to common stockholders/unitholders and distributions to noncontrolling interests in operating partnership   (849,571) (647,217)
Net cash (used in) provided by financing activities   (208,535) 223,544
Net increase in cash, cash equivalents and restricted cash   31,538 187,125
Effect of exchange rate changes on cash, cash equivalents and restricted cash   9,591 1,170
Cash, cash equivalents and restricted cash at beginning of period   13,181 22,036
Cash, cash equivalents and restricted cash at end of period 210,331 54,310 210,331
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized   247,652 167,148
Cash paid for income taxes   7,861 8,454
Supplementary disclosure of noncash investing and financing activities:      
Change in net assets related to foreign currency translation adjustments   (8,608) 25,954
Increase (decrease) in accounts payable and other accrued liabilities related to change in fair value of interest rate swaps and foreign currency hedges   16,336 (8,926)
Acquisition measurement period adjustment to goodwill and accounts payable and other accrued liabilities   0 2,162
Accrual for additions to investments in real estate and tenant improvement advances included in accounts payable and accrued expenses   193,615 232,459
Addition to leasehold improvements pursuant to capital lease obligation   73,873 0
Allocation of purchase price of real estate/investment in partnership to:      
Investments in real estate   116,990 43,585
Acquired below-market leases   0 (684)
Acquired in-place lease value and deferred leasing costs   0 1,453
Cash paid for acquisition of real estate   116,990 44,354
Assets and liabilities assumed in DFT merger:      
Goodwill   3,373,342  
Redeemable noncontrolling interests -- operating partnership (66,259)   (66,259)
DFT Company      
Assets and liabilities assumed in DFT merger:      
Cash assumed in merger 20,650   20,650
Land 312,579   312,579
Building and improvements 3,677,497   3,677,497
Accounts and other receivables 10,978   10,978
Intangibles 1,582,385   1,582,385
Goodwill 2,592,181 2,592,146 2,592,181
Accounts payable and other accrued liabilities (248,259)   (248,259)
Acquired below-market leases (185,543)   (185,543)
Other working capital, net (24,630)   (24,630)
DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Cash assumed in merger 20,650   20,650
Land 312,579   312,579
Building and improvements 3,677,497   3,677,497
Accounts and other receivables 10,978   10,978
Intangibles 1,582,385   1,582,385
Goodwill 2,592,181   2,592,181
Accounts payable and other accrued liabilities (248,259)   (248,259)
Acquired below-market leases (185,543)   (185,543)
Other working capital, net (24,630)   (24,630)
Above Market Leases | DFT Company      
Assets and liabilities assumed in DFT merger:      
Acquired above-market leases 162,333   162,333
Above Market Leases | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Acquired above-market leases 162,333   162,333
Global Revolving Credit Facility | DFT Company      
Assets and liabilities assumed in DFT merger:      
Long term debt (450,697)   (450,697)
Global Revolving Credit Facility | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Long term debt (450,697)   (450,697)
Unsecured Term Loans | DFT Company      
Assets and liabilities assumed in DFT merger:      
Long term debt (250,000)   (250,000)
Unsecured Term Loans | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Long term debt (250,000)   (250,000)
Senior Notes | DFT Company      
Assets and liabilities assumed in DFT merger:      
Long term debt (884,841)   (884,841)
Senior Notes | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Long term debt (884,841)   (884,841)
Mortgage Loans | DFT Company      
Assets and liabilities assumed in DFT merger:      
Long term debt (105,000)   (105,000)
Mortgage Loans | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Long term debt $ (105,000)   (105,000)
Parent      
Cash flows from operating activities:      
Net income   279,687  
Assets and liabilities assumed in DFT merger:      
Issuance of preferred stock in connection with merger   $ 1,292  
Parent | DFT Company      
Assets and liabilities assumed in DFT merger:      
Common stock/units issued in connection with merger     (5,247,558)
Common Unit | DFT Company      
Assets and liabilities assumed in DFT merger:      
Common stock/units issued in connection with merger     (676,566)
Series C Preferred Units | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Issuance of preferred stock in connection with merger     (219,250)
Series C Preferred Stock | Preferred Stock | DFT Company      
Assets and liabilities assumed in DFT merger:      
Issuance of preferred stock in connection with merger     (219,250)
General Partner | Common Unit | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Common stock/units issued in connection with merger     (5,247,558)
Limited Partners | Common Unit | DFT Company | Digital Realty Trust, L.P.      
Assets and liabilities assumed in DFT merger:      
Common stock/units issued in connection with merger     $ (676,566)