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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
5 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2016
Cash flow from operating activities    
Net income $ 17,704 $ 4,158
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 151,715 275,448
Amortization of deferred financing costs 3,039 5,640
Amortization of debt discount 3,253 5,964
Deferred income taxes (672) 836
Straight-line rental revenues (7,497) (13,174)
Stock-based compensation 1,117 3,478
Other   22
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable 217 (4,435)
Other assets (1,664) (4,951)
Accounts payable, accrued expenses and other liabilities 54,047 27,565
Net cash provided by operating activities 221,259 300,551
Cash flow from investing activities    
Acquisition of businesses, net of cash acquired   (489,538)
Consideration paid to Windstream Services, LLC (1,035,029)  
Capital expenditures [1] (712) (19,204)
Net cash used in investing activities (1,035,741) (508,742)
Cash flow from financing activities    
Principal payment on debt (5,350) (16,744)
Dividends paid (66,522) (273,692)
Proceeds from issuance of Term Loans 1,127,000  
Proceeds from issuance of Notes   148,875
Borrowings under revolving credit facility   521,000
Payments under revolving credit facility   (321,000)
Capital lease payments   (945)
Deferred financing costs (30,018) (2,946)
Common stock issuance, net of costs (516) 54,211
Net share settlement (113) (2,123)
Cash in-lieu of fractional shares (19)  
Net cash provided by financing activities 1,024,462 106,636
Effect of exchange rates on cash and cash equivalents   (181)
Net (decrease) increase in cash and cash equivalents 209,980 (101,736)
Cash and cash equivalents at beginning of period 18 142,498
Cash and cash equivalents at end of period 209,998 40,762
Supplemental cash flow information:    
Cash paid for interest 58,600 158,695
Cash paid for income taxes   2,522
Non-cash investing and financing activities:    
Property and equipment acquired but not yet paid   4,403
Tenant capital improvements 41,289 112,200
Acquisition of businesses through non-cash consideration   $ 259,996
Issuance of notes and other debt to Windstream Services, LLC, net of deferred financing costs ($34,681) $ 2,412,829  
[1] Segment capital expenditures represents capital expenditures as reported in the investing activities section of the Statement of Cash Flows.