logo     Print Page | Close Window

SEC Filings

10-Q
EQUINIX INC filed this Form 10-Q on 11/02/2018
Entire Document
 

EQUINIX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
Nine Months Ended
September 30,
 
2018
 
2017
 
(Unaudited)
Cash flows from operating activities:
 
 
 
Net income
$
255,337

 
$
167,767

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation
767,182

 
622,135

Stock-based compensation
139,849

 
129,602

Amortization of intangible assets
153,443

 
128,068

Amortization of debt issuance costs and debt discounts and premiums
10,609

 
20,100

Provision for allowance for doubtful accounts
4,886

 
6,889

Gain on asset sales
(6,013
)
 

Loss on debt extinguishment
39,214

 
42,103

Other items
13,040

 
3,437

Changes in operating assets and liabilities:
 
 
 
Accounts receivable
(85,126
)
 
(202,430
)
Income taxes, net
(32,876
)
 
(53,608
)
Other assets
(22,409
)
 
29,046

Accounts payable and accrued expenses
4,782

 
44,952

Other liabilities
14,879

 
6,293

Net cash provided by operating activities
1,256,797

 
944,354

Cash flows from investing activities:
 
 
 
Purchases of investments
(55,181
)
 
(57,926
)
Sales of investments
74,376

 
32,867

Business acquisitions, net of cash and restricted cash acquired
(829,185
)
 
(3,628,526
)
Purchases of real estate
(136,612
)
 
(64,964
)
Purchases of other property, plant and equipment
(1,415,509
)
 
(946,048
)
Proceeds from sale of assets, net of cash transferred
12,154

 
47,767

Net cash used in investing activities
(2,349,957
)
 
(4,616,830
)
Cash flows from financing activities:
 
 
 
Proceeds from employee equity awards
50,103

 
41,625

Payment of dividends and special distribution
(554,742
)
 
(463,914
)
Proceeds from public offering of common stock, net of issuance costs
273,873

 
2,126,341

Proceeds from senior notes
929,850

 
2,449,700

Proceeds from loans payable
424,650

 
1,059,800

Repayments of capital lease and other financing obligations
(89,655
)
 
(60,252
)
Repayments of mortgage and loans payable
(429,498
)
 
(63,520
)
Repayment of senior notes

 
(500,000
)
Debt extinguishment costs
(20,556
)
 
(23,020
)
Debt issuance costs
(12,218
)
 
(56,886
)
Other financing activities

 
(900
)
Net cash provided by financing activities
571,807

 
4,508,974

Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash 
(30,944
)
 
26,450

Net increase (decrease) in cash, cash equivalents and restricted cash
(552,297
)
 
862,948

Cash, cash equivalents and restricted cash at beginning of period
1,450,701

 
773,247

Cash, cash equivalents and restricted cash at end of period
$
898,404

 
$
1,636,195

 
 
 
 
Cash and cash equivalents
$
870,486

 
$
1,599,988

Current portion of restricted cash included in other current assets
17,287

 
25,079

Non-current portion of restricted cash included in other assets
10,631

 
11,128

Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows
$
898,404

 
$
1,636,195

See accompanying notes to condensed consolidated financial statements.

6