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SEC Filings

10-Q
EQUINIX INC filed this Form 10-Q on 05/03/2019
Entire Document
 

EQUINIX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
Three Months Ended
March 31,
 
2019
 
2018
 
(Unaudited)
Cash flows from operating activities:
 
 
 
Net income
$
117,747

 
$
62,894

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation
263,643

 
256,952

Stock-based compensation
49,023

 
42,536

Amortization of intangible assets
49,535

 
50,616

Amortization of debt issuance costs and debt discounts and premiums
2,995

 
4,099

Provision for allowance for doubtful accounts
4,594

 
3,281

Impairment charges
14,448

 

Loss on debt extinguishment
382

 
21,491

Other items
5,157

 
4,504

Changes in operating assets and liabilities:
 
 
 
Accounts receivable
(84,350
)
 
(71,275
)
Income taxes, net
15,825

 
(15,381
)
Other assets
(7,833
)
 
(6,694
)
Operating lease right-of-use assets
41,264

 

Operating lease liabilities
(38,886
)
 

Accounts payable and accrued expenses
(11,463
)
 
(35,143
)
Other liabilities
(940
)
 
(16,973
)
Net cash provided by operating activities
421,141

 
300,907

Cash flows from investing activities:
 
 
 
Purchases of investments
(9,297
)
 
(29,265
)
Sales of investments
518

 
28,768

Purchases of real estate
(5,721
)
 
(14,700
)
Purchases of other property, plant and equipment
(363,967
)
 
(349,729
)
Net cash used in investing activities
(378,467
)
 
(364,926
)
Cash flows from financing activities:
 
 
 
Proceeds from employee equity awards
27,593

 
25,847

Payment of dividends and special distribution
(204,603
)
 
(186,999
)
Proceeds from public offering of common stock, net of issuance costs
1,213,434

 

Proceeds from senior notes

 
929,850

Repayments of finance lease liabilities
(31,158
)
 
(55,787
)
Repayments of mortgage and loans payable
(18,334
)
 
(6,599
)
Debt extinguishment costs

 
(20,704
)
Debt issuance costs

 
(11,583
)
Net cash provided by financing activities
986,932

 
674,025

Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash 
(1,695
)
 
7,903

Net increase in cash, cash equivalents and restricted cash
1,027,911

 
617,909

Cash, cash equivalents and restricted cash at beginning of period
627,604

 
1,450,701

Cash, cash equivalents and restricted cash at end of period
$
1,655,515

 
$
2,068,610

 
 
 
 
Cash and cash equivalents
$
1,633,844

 
$
2,023,808

Current portion of restricted cash included in other current assets
11,305

 
33,460

Non-current portion of restricted cash included in other assets
10,366

 
11,342

Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows
$
1,655,515

 
$
2,068,610

See accompanying notes to condensed consolidated financial statements.

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