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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Property, plant, and equipment:    
Property, plant, and equipment - gross $ 4,027,019 $ 2,898,139
Accumulated depreciation and depletion (1,192,126) (1,097,624)
Property, plant, and equipment – net 2,834,893 1,800,515
Operating lease right-of-use assets 73,362  
Accumulated depreciation – operating leases (14,575)  
Operating leases – net 58,787  
Financing leases:    
Financing leases - gross 83,444  
Financing leases - gross   60,503
Accumulated depreciation – financing leases (26,347)  
Accumulated depreciation – financing leases   (21,317)
Financing leases – net 57,097  
Financing leases – net   39,186
Cash and cash equivalents 310,116 208,078
Restricted cash 6,872 6,019
Accounts receivable – net of allowance of $6,042 and $5,706 at September 30, 2019 and December 31, 2018, respectively 210,912 194,279
Identifiable intangible assets – net 288,232 25,056
Goodwill 310,640 186,095
Investments in partially owned entities 0 14,541
Other assets 64,642 58,659
Total assets 4,142,191 2,532,428
Liabilities:    
Accounts payable and accrued expenses 314,173 253,080
Mortgage notes, senior unsecured notes and term loan – net of unamortized deferred financing costs of $13,750 and $13,943, in the aggregate, at September 30, 2019 and December 31, 2018, respectively 1,696,350 1,351,014
Sale-leaseback financing obligations 116,628 118,920
Financing lease obligations 57,258  
Financing lease obligations   40,787
Operating lease obligations 61,849  
Unearned revenue 17,925 18,625
Pension and postretirement benefits 16,257 16,317
Deferred tax liability – net 14,385 17,992
Multi-employer pension plan withdrawal liability 8,787 8,938
Total liabilities 2,303,612 1,825,673
Shareholders’ equity:    
Common shares of beneficial interest, $0.01 par value – authorized 250,000,000 shares; 191,750,746 and 148,234,959 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 1,918 1,482
Paid-in capital 2,579,318 1,356,133
Accumulated deficit and distributions in excess of net earnings (718,874) (638,345)
Accumulated other comprehensive loss (23,783) (12,515)
Total shareholders’ equity 1,838,579 706,755
Total liabilities and shareholders’ equity 4,142,191 2,532,428
Land    
Property, plant, and equipment:    
Property, plant, and equipment - gross 516,354 385,232
Buildings and improvements    
Property, plant, and equipment:    
Property, plant, and equipment - gross 2,612,087 1,849,749
Financing leases:    
Financing leases - gross 11,227  
Financing leases - gross   11,227
Machinery and equipment    
Property, plant, and equipment:    
Property, plant, and equipment - gross 792,661 577,175
Financing leases:    
Financing leases - gross 72,217  
Financing leases - gross   49,276
Assets under construction    
Property, plant, and equipment:    
Property, plant, and equipment - gross 105,917 85,983
Americold Realty Operating Partnership, L.P.    
Property, plant, and equipment:    
Property, plant, and equipment - gross 4,027,019 2,898,139
Accumulated depreciation and depletion (1,192,126) (1,097,624)
Property, plant, and equipment – net 2,834,893 1,800,515
Operating lease right-of-use assets 73,362  
Accumulated depreciation – operating leases (14,575)  
Operating leases – net 58,787  
Financing leases:    
Financing leases - gross 83,444  
Financing leases - gross   60,503
Accumulated depreciation – financing leases (26,347)  
Accumulated depreciation – financing leases   (21,317)
Financing leases – net 57,097  
Financing leases – net   39,186
Cash and cash equivalents 310,116 208,078
Restricted cash 6,872 6,019
Accounts receivable – net of allowance of $6,042 and $5,706 at September 30, 2019 and December 31, 2018, respectively 210,912 194,279
Identifiable intangible assets – net 288,232 25,056
Goodwill 310,640 186,095
Investments in partially owned entities 0 14,541
Other assets 64,642 58,659
Total assets 4,142,191 2,532,428
Liabilities:    
Accounts payable and accrued expenses 314,173 253,080
Mortgage notes, senior unsecured notes and term loan – net of unamortized deferred financing costs of $13,750 and $13,943, in the aggregate, at September 30, 2019 and December 31, 2018, respectively 1,696,350 1,351,014
Sale-leaseback financing obligations 116,628 118,920
Financing lease obligations 57,258  
Financing lease obligations   40,787
Operating lease obligations 61,849  
Unearned revenue 17,925 18,625
Pension and postretirement benefits 16,257 16,317
Deferred tax liability – net 14,385 17,992
Multi-employer pension plan withdrawal liability 8,787 8,938
Total liabilities 2,303,612 1,825,673
Shareholders’ equity:    
General partner - 189,833,239 and 146,752,609 units issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 1,843,738 712,078
Limited partner - 1,917,507 and 1,482,350 units issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 18,624 7,192
Accumulated other comprehensive loss (23,783) (12,515)
Total shareholders’ equity 1,838,579 706,755
Total liabilities and shareholders’ equity 4,142,191 2,532,428
Americold Realty Operating Partnership, L.P. | Land    
Property, plant, and equipment:    
Property, plant, and equipment - gross 516,354 385,232
Americold Realty Operating Partnership, L.P. | Buildings and improvements    
Property, plant, and equipment:    
Property, plant, and equipment - gross 2,612,087 1,849,749
Financing leases:    
Financing leases - gross 11,227  
Financing leases - gross   11,227
Americold Realty Operating Partnership, L.P. | Machinery and equipment    
Property, plant, and equipment:    
Property, plant, and equipment - gross 792,661 577,175
Financing leases:    
Financing leases - gross 72,217  
Financing leases - gross   49,276
Americold Realty Operating Partnership, L.P. | Assets under construction    
Property, plant, and equipment:    
Property, plant, and equipment - gross $ 105,917 $ 85,983