Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands)	2016 Y 10-K 12/31/2016 USD	2017 Y 10-K 12/31/2017 USD	2018 Y 10-K 12/31/2018 USD	2019 Y 10-K 12/31/2019 USD	2020 Q1 YTD 10-Q 3/31/2020 USD
Document Name As Of Date Currency Code	2016 Y 10-K 12/31/2016 USD	2017 Y 10-K 12/31/2017 USD	2018 Y 10-K 12/31/2018 USD	2019 Y 10-K 12/31/2019 USD	2020 Q1 YTD 10-Q 3/31/2020 USD
Cash flows from operating activities
Net income	(200,824)	32,378	(88,030)	(307,106)	86,863	Column Line
Column Line
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	806,548	745,499	659,948	495,232	126,980	Column Line
Column Line
Gain on real estate assets, net	(55,722)	(61,536)	(96,068)	(296,447)	(25,508)	Column Line
Column Line
Impairments from held for sale	0	20,027	0	0	NA	Column Line
Column Line
Impairments	303,751	50,548	54,647	47,091	8,380	Column Line
Column Line
Equity-based compensation	10,728	16,751	13,314	13,101	2,855	Column Line
Column Line
Equity in income of unconsolidated entities	415	(2,726)	(1,869)	(2,618)	(246)	Column Line
Column Line
Distributions from unconsolidated entities	1,433	3,646	1,366	284	259	Column Line
Column Line
Loss on investments	0	(65)	(4,092)	492	541	Column Line
Column Line
Loss on derivative instruments	1,191	(2,976)	(355)	58	0	Column Line
Column Line
Non-cash restructuring expense	NA	0	0	3,951	0	Column Line
Column Line
Loss on extinguishment and forgiveness of debt, net	771	(18,373)	(5,360)	17,910	1,280	Column Line
Column Line
Surrender of Limited Partner OP Units	NA	0	0	(26,536)	NA	Column Line
Column Line
Changes in assets and liabilities
Investment in direct financing leases	3,976	2,097	2,078	1,622	364	Column Line
Column Line
Rent and tenant receivables, operating lease right-of-use and other assets, net	(52,626)	(21,394)	(34,096)	(18,367)	(4,462)	Column Line
Column Line
Due from affiliates	(416)	1,163	0	0	NA	Column Line
Column Line
Assets held for sale classified as discontinued operations	0	13,812	(2,492)	0	NA	Column Line
Column Line
Accounts payable and accrued expenses	(3,323)	10,742	1,688	(16,719)	(2,749)	Column Line
Column Line
Deferred rent, operating lease and other liabilities	(17,740)	(395)	7,162	(19,551)	(22,546)	Column Line
Column Line
Due to affiliates	(214)	50	(66)	0	NA	Column Line
Column Line
Liabilities related to discontinued operations	0	4,019	(13,861)	0	NA	Column Line
Column Line
Net cash provided by operating activities	797,948	793,267	493,914	(107,603)	172,011	Column Line
Column Line
Cash flows from investing activities
Investments in real estate assets	(100,194)	(699,004)	(500,625)	(394,662)	(147,121)	Column Line
Column Line
Capital expenditures and leasing costs	(16,568)	(21,694)	(22,291)	(37,957)	(9,502)	Column Line
Column Line
Real estate developments	(17,411)	(14,850)	(9,221)	(28,125)	(3,231)	Column Line
Column Line
Principal repayments received on mortgage notes receivable	5,417	6,796	5,761	106	0	Column Line
Column Line
Investments in unconsolidated entities	(25,777)	0	(771)	(2,767)	(2,669)	Column Line
Column Line
Return of investment from unconsolidated entities	2,580	1,972	48	1,138	257	Column Line
Column Line
Proceeds from disposition of real estate	1,000,700	445,525	502,289	1,067,532	140,428	Column Line
Column Line
Proceeds from disposition of discontinued operations	0	0	122,915	0	NA	Column Line
Column Line
Investment in leasehold improvements and other assets	(2,259)	(1,191)	(841)	(1,716)	(87)	Column Line
Column Line
Deposits for real estate assets	(17,856)	(37,226)	(13,412)	(8,453)	(895)	Column Line
Column Line
Proceeds from sale of investments and other assets	0	400	46,966	9,837	0	Column Line
Column Line
Uses and refunds of deposits for real estate assets	13,305	36,111	17,267	6,328	3,130	Column Line
Column Line
Proceeds from the settlement of property-related insurance claims	0	355	1,434	1,957	38	Column Line
Column Line
Line of credit advances to Cole REITs	(10,300)	(16,400)	(2,200)	0	NA	Column Line
Column Line
Line of credit repayments from Cole REITs	50,000	25,100	3,800	0	NA	Column Line
Column Line
Net cash used in investing activities	881,637	(274,106)	151,119	613,218	(19,652)	Column Line
Column Line
Cash flows from financing activities
Proceeds from mortgage notes payable	3,112	4,652	187	705	913	Column Line
Column Line
Payments on mortgage notes payable and other debt, including debt extinguishment costs	(337,022)	(424,385)	(137,887)	(374,058)	(123,574)	Column Line
Column Line
Proceeds from credit facility	1,033,000	329,000	1,934,000	1,386,000	831,313	Column Line
Column Line
Payments on credit facility	(1,993,000)	(645,107)	(1,716,000)	(739,000)	(110,000)	Column Line
Column Line
Proceeds from corporate bonds	1,000,000	600,000	546,304	593,052	NA	Column Line
Column Line
Redemptions of corporate bonds, including extinguishment costs	(1,311,203)	0	0	(1,160,977)	(26)	Column Line
Column Line
Extinguishment costs related to the repurchases of convertible notes	0	0	(597,500)	(82,254)	(13)	Column Line
Column Line
Payments of deferred financing costs	(19,872)	(9,575)	(25,471)	(4,190)	(35)	Column Line
Column Line
Repurchases of Common Stock under the share repurchase programs	0	(518)	(50,154)	0	NA	Column Line
Column Line
Proceeds from 2016 term loan	300,000	NA	NA	NA	NA	Column Line
Column Line
Repayment of 2016 term loan	(300,000)	NA	NA	NA	NA	Column Line
Column Line
Repurchases of Common Stock to settle tax obligations	(4,652)	(2,148)	(2,326)	(1,618)	(2,378)	Column Line
Column Line
Proceeds from the issuance of Common Stock, net of underwriters' discount and offering expenses	702,765	0	0	1,014,215	0	Column Line
Column Line
Payments of equity issuance costs	(280)	NA	NA	NA	NA	Column Line
Column Line
Series F Preferred Stock redemption expenses	NA	0	0	(300,122)	(27)	Column Line
Column Line
Contributions from non-controlling interest holders	675	101	120	64	0	Column Line
Column Line
Distributions paid	(580,508)	(608,615)	(606,679)	(665,241)	(162,747)	Column Line
Column Line
Payment related to the surrender of Limited Partner OP Units	NA	0	0	(191,974)	NA	Column Line
Column Line
Net cash provided by (used in) financing activities	(1,506,985)	(756,595)	(655,406)	(525,398)	433,426	Column Line
Column Line
Net change in cash and cash equivalents and restricted cash	172,600	(237,434)	(10,373)	(19,783)	585,785	Column Line
Column Line
Cash and cash equivalents and restricted cash, beginning of period
Cash and cash equivalents and restricted cash, beginning of period	128,870	301,470	64,036	53,663	33,880	Column Line
Column Line
Less - cash and cash equivalents of discontinued operations	(4,968)	(2,973)	(2,198)	0	NA	Column Line
Column Line
Cash and cash equivalents and restricted cash from continuing operations, beginning of period	123,902	298,497	61,838	53,663	NA	Column Line
Column Line
Cash and cash equivalents and restricted cash, end of period
Cash and cash equivalents and restricted cash, end of period	301,470	64,036	53,663	33,880	619,665	Column Line
Column Line
Less - cash and cash equivalents of discontinued operations	(2,973)	(2,198)	0	0	NA	Column Line
Column Line
Cash and cash equivalents and restricted cash from continuing operations, end of period	298,497	61,838	53,663	33,880	NA	Column Line
Column Line
Reconciliation of Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents at beginning of period	64,135	253,479	34,176	30,758	12,921	Column Line
Column Line
Restricted cash at beginning of period	59,767	45,018	27,662	22,905	20,959	Column Line
Column Line
Cash and cash equivalents and restricted cash at beginning of period	123,902	298,497	61,838	53,663	33,880	Column Line
Column Line
Cash and cash equivalents at end of period	253,479	34,176	30,758	12,921	600,945	Column Line
Column Line
Restricted cash at end of period	45,018	27,662	22,905	20,959	18,720	Column Line
Column Line
Cash and cash equivalents and restricted cash at end of period	298,497	61,838	53,663	33,880	619,665	Column Line
Column Line

Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.