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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 14.7 $ 89.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 108.1 102.1
Provision for bad debt expense (0.1) 0.0
Unrealized gain on marketable equity investment (14.7) (101.2)
Foreign currency and derivative gains, net (5.1) 0.0
Proceeds from swap terminations 2.9 0.0
Loss on early extinguishment of debt 3.4 0.0
Interest expense amortization, net 2.0 1.2
Stock-based compensation expense 3.7 4.5
Deferred income tax benefit (2.0) (0.8)
Operating lease cost 6.2 5.0
Other income (expense) 0.2 (0.5)
Change in operating assets and liabilities:    
Rent and other receivables, net and other assets (29.4) (18.0)
Accounts payable and accrued expenses (1.2) (39.8)
Deferred revenue and prepaid rents 3.2 7.1
Operating lease liabilities (5.6) (5.1)
Net cash provided by operating activities 86.3 43.9
Cash flows from investing activities:    
Investment in real estate (196.5) (301.9)
Equity investments (3.3) 0.0
Net cash used in investing activities (199.8) (301.9)
Cash flows from financing activities:    
Issuance of common stock, net 0.6 105.0
Dividends paid (58.4) (50.4)
Payment of deferred financing costs (13.6) 0.0
Proceeds from revolving credit facility 244.4 275.7
Repayments of revolving credit facility (623.1) 0.0
Proceeds from Euro bond 550.6 0.0
Proceeds from unsecured term loan 1,100.0 0.0
Repayments of unsecured term loan (1,100.0) 0.0
Payments on finance lease liabilities (0.7) (0.6)
Tax payment upon exercise of equity awards (6.3) (8.7)
Net cash provided by (used in) financing activities 93.5 321.0
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.9 (0.1)
Net decrease in cash, cash equivalents and restricted cash (19.1) 62.9
Cash, cash equivalents and restricted cash at beginning of period 77.7 64.4
Cash, cash equivalents and restricted cash at end of period 58.6 127.3
Supplemental disclosure of cash flow information:    
Cash paid for interest, including amounts capitalized of $6.0 million and $9.3 million in 2020 and 2019, respectively 8.3 46.7
Non-cash investing and financing activities:    
Construction costs payable 183.4 155.5
Dividends payable $ 58.7 $ 51.5