Condensed Consolidated Statement of Cash Flows (unaudited)
$ in Thousands |
5 Months Ended |
|
Sep. 30, 2015
USD ($)
|
|---|
| Cash flow from operating activities |
|
| Net income |
$ 17,704
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
| Depreciation and amortization |
151,715
|
| Amortization of deferred financing costs |
3,039
|
| Amortization of debt discount |
3,253
|
| Deferred income taxes |
(672)
|
| Straight-line rental revenues |
(7,497)
|
| Stock-based compensation |
1,117
|
| Changes in: |
|
| Accounts receivable |
217
|
| Other assets |
(1,664)
|
| Accounts payable, accrued expenses and other liabilities |
54,047
|
| Net cash provided by operating activities |
221,259
|
| Cash flow from investing activities |
|
| Consideration paid to Windstream Services, LLC |
(1,035,029)
|
| Capital expenditures |
(712)
|
| Net cash used in investing activities |
(1,035,741)
|
| Cash flow from financing activities |
|
| Proceeds from issuance of Term Loans |
1,127,000
|
| Deferred financing costs |
(30,018)
|
| Principal payment on debt |
(5,350)
|
| Common stock issuance costs |
(629)
|
| Dividends paid |
(66,522)
|
| Cash in-lieu of fractional shares |
(19)
|
| Net cash provided by financing activities |
1,024,462
|
| Net increase in cash and cash equivalents |
209,980
|
| Cash and cash equivalents at beginning of period |
18
|
| Cash and cash equivalents at end of period |
209,998
|
| Supplemental cash flow information: |
|
| Cash paid for interest |
58,600
|
| Non-cash investing and financing activities: |
|
| Issuance of notes and other debt to Windstream Services, LLC, net of deferred financing costs ($34,681) |
2,412,829
|
| Tenant capital improvements |
41,289
|
| Accrual of dividends declared |
$ 90,404
|