XML 58 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flow from operating activities    
Net income $ 26,333us-gaap_ProfitLoss $ 31,644us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 25,027us-gaap_DepreciationDepletionAndAmortization 23,269us-gaap_DepreciationDepletionAndAmortization
Straight line rent 3,783us-gaap_StraightLineRent 711us-gaap_StraightLineRent
Amortization of deferred financing costs (642)us-gaap_AmortizationOfFinancingCosts (743)us-gaap_AmortizationOfFinancingCosts
Amortization of lease contracts above and below market value (593)us-gaap_AmortizationOfAboveAndBelowMarketLeases (599)us-gaap_AmortizationOfAboveAndBelowMarketLeases
Compensation paid with Company common shares 5,290us-gaap_ShareBasedCompensation 1,593us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities    
Rents and other receivables (3,599)us-gaap_IncreaseDecreaseInReceivables (979)us-gaap_IncreaseDecreaseInReceivables
Deferred costs (1,474)us-gaap_IncreaseDecreaseInDeferredCharges (52)us-gaap_IncreaseDecreaseInDeferredCharges
Prepaid expenses and other assets (2,052)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (5,933)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable and accrued liabilities 1,916us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (1,191)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Accrued interest payable (8,816)us-gaap_IncreaseDecreaseInInterestPayableNet (8,012)us-gaap_IncreaseDecreaseInInterestPayableNet
Prepaid rents and other liabilities 2,635dft_PrepaidRentsAndOtherLiabilitiesCf 3,297dft_PrepaidRentsAndOtherLiabilitiesCf
Net cash provided by operating activities 49,092us-gaap_NetCashProvidedByUsedInOperatingActivities 44,491us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flow from investing activities    
Investments in real estate – development (57,584)us-gaap_PaymentsToAcquireAndDevelopRealEstate (80,159)us-gaap_PaymentsToAcquireAndDevelopRealEstate
Interest capitalized for real estate under development (2,856)us-gaap_InterestCostsCapitalized (2,965)us-gaap_InterestCostsCapitalized
Improvements to real estate (574)us-gaap_PaymentsForCapitalImprovements (425)us-gaap_PaymentsForCapitalImprovements
Additions to non-real estate property (176)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment (220)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
Net cash used in investing activities (61,190)us-gaap_NetCashProvidedByUsedInInvestingActivities (83,769)us-gaap_NetCashProvidedByUsedInInvestingActivities
Line of credit:    
Proceeds 90,000us-gaap_ProceedsFromLinesOfCredit 0us-gaap_ProceedsFromLinesOfCredit
Unsecured term loan:    
Proceeds 0us-gaap_ProceedsFromIssuanceOfUnsecuredDebt 96,000us-gaap_ProceedsFromIssuanceOfUnsecuredDebt
Payments of financing costs 0us-gaap_PaymentsOfFinancingCosts (96)us-gaap_PaymentsOfFinancingCosts
Equity compensation (payments) proceeds 7,489dft_Equitycompensationpaymentsproceeds (3,457)dft_Equitycompensationpaymentsproceeds
Payments for Repurchase of Common Stock (31,912)us-gaap_PaymentsForRepurchaseOfCommonStock 0us-gaap_PaymentsForRepurchaseOfCommonStock
Dividends and distributions:    
Common shares (27,745)us-gaap_PaymentsOfDividendsCommonStock (16,301)us-gaap_PaymentsOfDividendsCommonStock
Preferred shares (6,811)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (6,811)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Redeemable noncontrolling interests – operating partnership (6,484)us-gaap_PaymentsOfDividendsMinorityInterest (3,918)us-gaap_PaymentsOfDividendsMinorityInterest
Net cash provided by financing activities 9,559us-gaap_NetCashProvidedByUsedInFinancingActivities 72,331us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents (2,539)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 33,053us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning 29,598us-gaap_CashAndCashEquivalentsAtCarryingValue 38,733us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, ending 27,059us-gaap_CashAndCashEquivalentsAtCarryingValue 71,786us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental information:    
Cash paid for interest 19,930us-gaap_InterestPaid 18,802us-gaap_InterestPaid
Deferred financing costs capitalized for real estate under development 231dft_DeferredFinancingCostsCapitalizedForRealEstateUnderDevelopment 170dft_DeferredFinancingCostsCapitalizedForRealEstateUnderDevelopment
Construction costs payable capitalized for real estate under development 25,482dft_ConstructionCostsPayableCapitalizedToRealEstate 25,489dft_ConstructionCostsPayableCapitalizedToRealEstate
Redemption of operating partnership units 598us-gaap_PartnersCapitalAccountRedemptions 2,100us-gaap_PartnersCapitalAccountRedemptions
Adjustments to redeemable noncontrolling interests – operating partnership 5,878dft_AdjustmentToRedeemableNoncontrollingInterestsOperatingPartnership 9,334dft_AdjustmentToRedeemableNoncontrollingInterestsOperatingPartnership
DuPont Fabros Technology, L.P. [Member]    
Cash flow from operating activities    
Net income 26,333us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
31,644us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 25,027us-gaap_DepreciationDepletionAndAmortization
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
23,269us-gaap_DepreciationDepletionAndAmortization
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Straight line rent 3,783us-gaap_StraightLineRent
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
711us-gaap_StraightLineRent
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Amortization of deferred financing costs (642)us-gaap_AmortizationOfFinancingCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(743)us-gaap_AmortizationOfFinancingCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Amortization of lease contracts above and below market value (593)us-gaap_AmortizationOfAboveAndBelowMarketLeases
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(599)us-gaap_AmortizationOfAboveAndBelowMarketLeases
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Compensation paid with Company common shares 5,290us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
1,593us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Changes in operating assets and liabilities    
Rents and other receivables (3,599)us-gaap_IncreaseDecreaseInReceivables
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(979)us-gaap_IncreaseDecreaseInReceivables
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Deferred costs (1,474)us-gaap_IncreaseDecreaseInDeferredCharges
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(52)us-gaap_IncreaseDecreaseInDeferredCharges
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Prepaid expenses and other assets (2,052)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(5,933)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Accounts payable and accrued liabilities 1,916us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(1,190)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Accrued interest payable (8,816)us-gaap_IncreaseDecreaseInInterestPayableNet
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(8,012)us-gaap_IncreaseDecreaseInInterestPayableNet
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Prepaid rents and other liabilities 2,635dft_PrepaidRentsAndOtherLiabilitiesCf
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
3,297dft_PrepaidRentsAndOtherLiabilitiesCf
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net cash provided by operating activities 49,092us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
44,492us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Cash flow from investing activities    
Investments in real estate – development (57,584)us-gaap_PaymentsToAcquireAndDevelopRealEstate
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(80,159)us-gaap_PaymentsToAcquireAndDevelopRealEstate
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Interest capitalized for real estate under development (2,856)us-gaap_InterestCostsCapitalized
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(2,965)us-gaap_InterestCostsCapitalized
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Improvements to real estate (574)us-gaap_PaymentsForCapitalImprovements
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(425)us-gaap_PaymentsForCapitalImprovements
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Additions to non-real estate property (176)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(220)us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net cash used in investing activities (61,190)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(83,769)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Line of credit:    
Proceeds 90,000us-gaap_ProceedsFromLinesOfCredit
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
0us-gaap_ProceedsFromLinesOfCredit
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Unsecured term loan:    
Proceeds 0us-gaap_ProceedsFromIssuanceOfUnsecuredDebt
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
96,000us-gaap_ProceedsFromIssuanceOfUnsecuredDebt
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Payments of financing costs 0us-gaap_PaymentsOfFinancingCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(96)us-gaap_PaymentsOfFinancingCosts
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Equity compensation (payments) proceeds 7,489dft_Equitycompensationpaymentsproceeds
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(3,457)dft_Equitycompensationpaymentsproceeds
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Payments for Repurchase of Common Stock (31,912)us-gaap_PaymentsForRepurchaseOfCommonStock
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
0us-gaap_PaymentsForRepurchaseOfCommonStock
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Distributions (41,040)us-gaap_DistributionMadeToLimitedPartnerCashDistributionsPaid
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
(27,030)us-gaap_DistributionMadeToLimitedPartnerCashDistributionsPaid
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Dividends and distributions:    
Net cash provided by financing activities 9,559us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
72,331us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Net increase (decrease) in cash and cash equivalents (2,539)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
33,054us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Cash and cash equivalents, beginning 25,380us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
34,514us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Cash and cash equivalents, ending 22,841us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
67,568us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Supplemental information:    
Cash paid for interest 19,930us-gaap_InterestPaid
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
18,802us-gaap_InterestPaid
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Deferred financing costs capitalized for real estate under development 231dft_DeferredFinancingCostsCapitalizedForRealEstateUnderDevelopment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
170dft_DeferredFinancingCostsCapitalizedForRealEstateUnderDevelopment
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Construction costs payable capitalized for real estate under development 25,482dft_ConstructionCostsPayableCapitalizedToRealEstate
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
25,489dft_ConstructionCostsPayableCapitalizedToRealEstate
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Redemption of operating partnership units 598us-gaap_PartnersCapitalAccountRedemptions
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
2,100us-gaap_PartnersCapitalAccountRedemptions
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
Adjustments to redeemable noncontrolling interests – operating partnership $ (8,635)dft_AdjustmentToRedeemableNoncontrollingInterestsOperatingPartnership
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember
$ (4,547)dft_AdjustmentToRedeemableNoncontrollingInterestsOperatingPartnership
/ dei_LegalEntityAxis
= us-gaap_SubsidiariesMember