Guarantors (Details) (USD $) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | 0 Months Ended | |
Jan. 23, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 25, 2014 | Jan. 25, 2013 | Dec. 31, 2011 |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | $89,700,000 | | | | $89,300,000 | | | $89,300,000 | $89,700,000 | $89,300,000 | | | | |
Buildings and improvements | | | 812,600,000 | | | | 783,700,000 | | | 783,700,000 | 812,600,000 | 783,700,000 | | | | |
Equipment | | | 349,100,000 | | | | 190,200,000 | | | 190,200,000 | 349,100,000 | 190,200,000 | | | | |
Construction in progress | | | 127,000,000 | | | | 57,300,000 | | | 57,300,000 | 127,000,000 | 57,300,000 | | | | |
Subtotal | | | 1,378,400,000 | | | | 1,120,500,000 | | | 1,120,500,000 | 1,378,400,000 | 1,120,500,000 | | | | |
Accumulated depreciation | | | -327,000,000 | | | | -236,700,000 | | | -236,700,000 | -327,000,000 | -236,700,000 | | | | |
Net investment in real estate | | | 1,051,400,000 | | | | 883,800,000 | | | 883,800,000 | 1,051,400,000 | 883,800,000 | | | | |
Cash and cash equivalents | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 60,900,000 | | | | 41,200,000 | | | 41,200,000 | 60,900,000 | 41,200,000 | | | | |
Goodwill | | | 276,200,000 | | | | 276,200,000 | | | 276,200,000 | 276,200,000 | 276,200,000 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 68,900,000 | | | | 85,900,000 | | | 85,900,000 | 68,900,000 | 85,900,000 | | | | |
Due from affiliates | | | 800,000 | | | | 600,000 | | | 600,000 | 800,000 | 600,000 | | | | |
Other assets | | | 91,800,000 | | | | 70,300,000 | | | 70,300,000 | 91,800,000 | 70,300,000 | | | | |
Total assets | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Accounts payable and accrued expenses | | | 69,900,000 | | | | 66,800,000 | | | 66,800,000 | 69,900,000 | 66,800,000 | | | | |
Deferred revenue | | | 65,700,000 | | | | 55,900,000 | | | 55,900,000 | 65,700,000 | 55,900,000 | | | | |
Due to affiliates | | | 7,300,000 | | | | 8,500,000 | | | 8,500,000 | 7,300,000 | 8,500,000 | | | | |
Capital lease obligations | | | 13,400,000 | | | | 16,700,000 | | | 16,700,000 | 13,400,000 | 16,700,000 | | | | |
Long-term debt | | | 659,800,000 | | | | 525,000,000 | | | 525,000,000 | 659,800,000 | 525,000,000 | | | | |
Other financing arrangements | | | 53,400,000 | | | | 56,300,000 | | | 56,300,000 | 53,400,000 | 56,300,000 | | | | |
Total liabilities | | | 869,500,000 | | | | 729,200,000 | | | 729,200,000 | 869,500,000 | 729,200,000 | | | | |
Total shareholders’ equity | | | 460,700,000 | | | | 322,000,000 | | | 322,000,000 | 460,700,000 | 322,000,000 | | | | |
Noncontrolling interest | | | 256,300,000 | | | | 455,600,000 | | | 455,600,000 | 256,300,000 | 455,600,000 | | | | |
Total equity | | | 717,000,000 | | | | 777,600,000 | | | 777,600,000 | 717,000,000 | 777,600,000 | | | | |
Total liabilities and equity | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 15,100,000 | 45,000,000 | 86,900,000 | 84,800,000 | 81,700,000 | 77,500,000 | 72,300,000 | 67,500,000 | 63,600,000 | | 330,900,000 | 263,500,000 | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Restructuring charges | | | | | | | | | | | | 700,000 | 0 | | | |
Operating income (loss) | -17,300,000 | 5,800,000 | 11,200,000 | 9,600,000 | 7,400,000 | 11,800,000 | 9,000,000 | 8,500,000 | 5,600,000 | | 40,000,000 | 11,600,000 | | | | |
Income tax (expense) benefit | -400,000 | | | | | | | | | -1,900,000 | -1,400,000 | | 5,100,000 | | | |
Net loss | -20,200,000 | -2,800,000 | -11,800,000 | 200,000 | -3,600,000 | 700,000 | -3,800,000 | -2,200,000 | -6,800,000 | | -14,500,000 | -35,800,000 | | | | |
Net loss attributed to common shareholders | 0 | -900,000 | -7,000,000 | 100,000 | -1,100,000 | 200,000 | -1,300,000 | -800,000 | -2,300,000 | | -7,800,000 | -5,300,000 | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -20,200,000 | -2,800,000 | -11,800,000 | 200,000 | -3,600,000 | 700,000 | -3,800,000 | -2,200,000 | -6,800,000 | | -14,500,000 | -35,800,000 | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Provision for bad debt write off | | | | | | | | | | | 1,000,000 | 500,000 | 300,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Cash and cash equivalents at beginning of period | | | | | | 148,800,000 | | | | | 148,800,000 | | | | | |
Cash and cash equivalents at end of period | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Parent Company [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Combined interest held on completion of transactions | 33.90% | | | | | | | | | | | | | | | |
CyrusOne GP [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Combined interest held on completion of transactions | | | | | | | | 1.00% | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | 100.00% | | 100.00% | | | | | | | | 100.00% | | | | | |
LP Co-Issuer and Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | | | 100.00% | | | | | | | | 100.00% | | | | | |
Non-Guarantor [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | | | | | | | | 100.00% | | | | | | | | |
Eliminations/Consolidations [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Noncontrolling interest | | | | | | | 455,600,000 | | | 455,600,000 | | 455,600,000 | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | | | 10,300,000 | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Dividends/Distributions paid | | | | | | | | | | | | -20,400,000 | | | | |
CyrusOne L.P. [Member] | Parent Company [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Combined interest held on completion of transactions | 33.90% | | | | | | | | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | 100.00% | | | | | | | | | | | | | | | |
CyrusOne L.P. [Member] | CyrusOne LP [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | | | 100.00% | | | | | | | | 100.00% | | | | | |
CyrusOne L.P. [Member] | CyrusOne GP [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Combined interest held on completion of transactions | | | | | | | | 1.00% | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | 100.00% | | | | | | | | | | | | | | | |
CyrusOne L.P. [Member] | LP Co-Issuer and Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | | | 100.00% | | | | | | | | 100.00% | | | | | |
CyrusOne L.P. [Member] | Non-Guarantor [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of non-guarantors/subsidiaries | | | | | | | | 100.00% | | | | | | | | |
Successor [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 89,700,000 | | | | 89,300,000 | | | 89,300,000 | 89,700,000 | 89,300,000 | | | | |
Buildings and improvements | | | 812,600,000 | | | | 783,700,000 | | | 783,700,000 | 812,600,000 | 783,700,000 | | | | |
Equipment | | | 349,100,000 | | | | 190,200,000 | | | 190,200,000 | 349,100,000 | 190,200,000 | | | | |
Construction in progress | | | 127,000,000 | | | | 57,300,000 | | | 57,300,000 | 127,000,000 | 57,300,000 | | | | |
Subtotal | | | 1,378,400,000 | | | | 1,120,500,000 | | | 1,120,500,000 | 1,378,400,000 | 1,120,500,000 | | | | |
Accumulated depreciation | | | -327,000,000 | | | | -236,700,000 | | | -236,700,000 | -327,000,000 | -236,700,000 | | | | |
Net investment in real estate | | | 1,051,400,000 | | | | 883,800,000 | | | 883,800,000 | 1,051,400,000 | 883,800,000 | | | | |
Cash and cash equivalents | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Investment in subsidiary | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 60,900,000 | | | | 41,200,000 | | | 41,200,000 | 60,900,000 | 41,200,000 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 276,200,000 | | | | 276,200,000 | | | 276,200,000 | 276,200,000 | 276,200,000 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 68,900,000 | | | | 85,900,000 | | | 85,900,000 | 68,900,000 | 85,900,000 | | | | |
Due from affiliates | | | 800,000 | | | | 600,000 | | | 600,000 | 800,000 | 600,000 | | | | |
Other assets | | | 91,800,000 | | | | 70,300,000 | | | 70,300,000 | 91,800,000 | 70,300,000 | | | | |
Total assets | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Accounts payable and accrued expenses | | | 69,900,000 | | | | 66,800,000 | | | 66,800,000 | 69,900,000 | 66,800,000 | | | | |
Deferred revenue | | | 65,700,000 | | | | 55,900,000 | | | 55,900,000 | 65,700,000 | 55,900,000 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 7,300,000 | | | | 8,500,000 | | | 8,500,000 | 7,300,000 | 8,500,000 | | | | |
Capital lease obligations | | | 13,400,000 | | | | 16,700,000 | | | 16,700,000 | 13,400,000 | 16,700,000 | | | | |
Long-term debt | | | 659,800,000 | | | | 525,000,000 | | | 525,000,000 | 659,800,000 | 525,000,000 | | | | |
Other financing arrangements | | | 53,400,000 | | | | 56,300,000 | | | 56,300,000 | 53,400,000 | 56,300,000 | | | | |
Total liabilities | | | 869,500,000 | | | | 729,200,000 | | | 729,200,000 | 869,500,000 | 729,200,000 | | | | |
Total shareholders’ equity | | | 460,700,000 | | | | 322,000,000 | | | 322,000,000 | 460,700,000 | 322,000,000 | | | | |
Noncontrolling interest | | | 256,300,000 | | | | 455,600,000 | | | 455,600,000 | 256,300,000 | 455,600,000 | | | | |
Total equity | | | 717,000,000 | | | | 777,600,000 | | | 777,600,000 | 717,000,000 | 777,600,000 | | | | |
Total liabilities and equity | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 248,400,000 | 330,900,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 88,400,000 | 124,500,000 | | | | | |
Sales and marketing | | | | | | | | | | 9,900,000 | 12,800,000 | | | | | |
General and administrative | | | | | | | | | | 26,500,000 | 34,600,000 | | | | | |
Transaction-related compensation | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 89,900,000 | 118,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 700,000 | 0 | | | | | |
Transaction costs | | | | | | | | | | 1,300,000 | 1,000,000 | | | | | |
Management fees charged by CBI | | | | | | | | | | 0 | 0 | | | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | 0 | | | | | |
Total costs and expenses | | | | | | | | | | 219,500,000 | 290,900,000 | | | | | |
Operating income (loss) | | | | | | | | | | 28,900,000 | 40,000,000 | | | | | |
Interest expense | | | | | | | | | | 41,200,000 | 39,500,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 13,600,000 | | | | | |
Other income | | | | | | | | | | -100,000 | 0 | | | | | |
Net loss before income taxes | | | | | | | | | | -13,500,000 | -13,100,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | -1,900,000 | -1,400,000 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | -200,000 | 0 | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | -10,300,000 | -6,700,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -5,300,000 | -7,800,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 89,900,000 | 118,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 6,000,000 | 10,300,000 | | | | | |
Noncash interest expense | | | | | | | | | | 4,000,000 | 3,400,000 | | | | | |
Provision for bad debt write off | | | | | | | | | | 400,000 | 800,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 13,600,000 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | 0 | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 600,000 | 0 | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -15,700,000 | -37,000,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | -14,600,000 | 6,900,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 18,400,000 | -200,000 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | -100,000 | 9,800,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 77,400,000 | 111,100,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | -48,000,000 | 0 | | | | | |
Capital expenditures – other | | | | | | | | | | -172,900,000 | -284,200,000 | | | | | |
Proceeds from the sale of assets | | | | | | | | | | 0 | 0 | | | | | |
Increase in restricted cash | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 4,400,000 | 0 | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | -200,000 | 0 | | | | | |
Net cash used in investing activities | | | | | | | | | | -216,700,000 | -284,200,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 360,500,000 | 356,000,000 | | | | | |
IPO costs | | | | | | | | | | -26,600,000 | 0 | | | | | |
Stock issuance costs | | | | | | | | | | 0 | -1,300,000 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | 0 | -355,900,000 | | | | | |
Dividends/Distributions paid | | | | | | | | | | -31,000,000 | -50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | 0 | 315,000,000 | | | | | |
Payments on revolving credit facility | | | | | | | | | | 0 | -30,000,000 | | | | | |
Payments on senior notes | | | | | | | | | | 0 | -150,200,000 | | | | | |
Borrowings from affiliates, net | | | | | | | | | | 0 | 0 | | | | | |
Repayment of related party note | | | | | | | | | | 0 | 0 | | | | | |
Proceeds from issuance of debt | | | | | | | | | | 0 | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | -5,300,000 | -3,000,000 | | | | | |
Payments on financing obligations | | | | | | | | | | -700,000 | -900,000 | | | | | |
Payments to buyout capital leases | | | | | | | | | | -9,600,000 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | -10,200,000 | 0 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | 0 | -12,800,000 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 0 | | | | | |
Debt issuance costs | | | | | | | | | | -1,300,000 | -5,200,000 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 275,800,000 | 60,800,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 136,500,000 | -112,300,000 | | | | | |
Cash and cash equivalents at beginning of period | | 12,300,000 | | | | 148,800,000 | | | | 12,300,000 | 148,800,000 | | | | | |
Cash and cash equivalents at end of period | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Successor [Member] | Parent Company [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | 458,500,000 | | | | 322,000,000 | | | 322,000,000 | 458,500,000 | 322,000,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total assets | | | 458,500,000 | | | | 322,000,000 | | | 322,000,000 | 458,500,000 | 322,000,000 | | | | |
Accounts payable and accrued expenses | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total shareholders’ equity | | | 458,500,000 | | | | 322,000,000 | | | 322,000,000 | 458,500,000 | 322,000,000 | | | | |
Noncontrolling interest | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 458,500,000 | | | | 322,000,000 | | | 322,000,000 | 458,500,000 | 322,000,000 | | | | |
Total liabilities and equity | | | 458,500,000 | | | | 322,000,000 | | | 322,000,000 | 458,500,000 | 322,000,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | 0 | 0 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | -5,300,000 | -10,000,000 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -5,300,000 | -10,000,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -5,300,000 | -10,000,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -5,300,000 | -10,000,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 5,300,000 | 10,000,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | -7,100,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | 9,400,000 | 0 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | -2,300,000 | 0 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | -337,100,000 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 10,600,000 | 25,200,000 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | -326,500,000 | 25,200,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 360,500,000 | 356,000,000 | | | | | |
IPO costs | | | | | | | | | | -23,400,000 | | | | | | |
Stock issuance costs | | | | | | | | | | | -1,300,000 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | -355,900,000 | | | | | |
Dividends/Distributions paid | | | | | | | | | | -10,600,000 | -24,000,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | 0 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 0 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 326,500,000 | -25,200,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 0 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 0 | | | | 0 | | | | 0 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | CyrusOne LP [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 89,700,000 | | | | 89,300,000 | | | 89,300,000 | 89,700,000 | 89,300,000 | | | | |
Buildings and improvements | | | 812,600,000 | | | | 783,700,000 | | | 783,700,000 | 812,600,000 | 783,700,000 | | | | |
Equipment | | | 349,100,000 | | | | 190,200,000 | | | 190,200,000 | 349,100,000 | 190,200,000 | | | | |
Construction in progress | | | 127,000,000 | | | | 57,300,000 | | | 57,300,000 | 127,000,000 | 57,300,000 | | | | |
Subtotal | | | 1,378,400,000 | | | | 1,120,500,000 | | | 1,120,500,000 | 1,378,400,000 | 1,120,500,000 | | | | |
Accumulated depreciation | | | -327,000,000 | | | | -236,700,000 | | | -236,700,000 | -327,000,000 | -236,700,000 | | | | |
Net investment in real estate | | | 1,051,400,000 | | | | 883,800,000 | | | 883,800,000 | 1,051,400,000 | 883,800,000 | | | | |
Cash and cash equivalents | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 60,900,000 | | | | 41,200,000 | | | 41,200,000 | 60,900,000 | 41,200,000 | | | | |
Goodwill | | | 276,200,000 | | | | 276,200,000 | | | 276,200,000 | 276,200,000 | 276,200,000 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 68,900,000 | | | | 85,900,000 | | | 85,900,000 | 68,900,000 | 85,900,000 | | | | |
Due from affiliates | | | 800,000 | | | | 600,000 | | | 600,000 | 800,000 | 600,000 | | | | |
Other assets | | | 91,800,000 | | | | 70,300,000 | | | 70,300,000 | 91,800,000 | 70,300,000 | | | | |
Total assets | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Accounts payable and accrued expenses | | | 69,900,000 | | | | 66,800,000 | | | 66,800,000 | 69,900,000 | 66,800,000 | | | | |
Deferred revenue | | | 65,700,000 | | | | 55,900,000 | | | 55,900,000 | 65,700,000 | 55,900,000 | | | | |
Due to affiliates | | | 7,300,000 | | | | 8,500,000 | | | 8,500,000 | 7,300,000 | 8,500,000 | | | | |
Capital lease obligations | | | 13,400,000 | | | | 16,700,000 | | | 16,700,000 | 13,400,000 | 16,700,000 | | | | |
Long-term debt | | | 659,800,000 | | | | 525,000,000 | | | 525,000,000 | 659,800,000 | 525,000,000 | | | | |
Other financing arrangements | | | 53,400,000 | | | | 56,300,000 | | | 56,300,000 | 53,400,000 | 56,300,000 | | | | |
Total liabilities | | | 869,500,000 | | | | 729,200,000 | | | 729,200,000 | 869,500,000 | 729,200,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 248,400,000 | 330,900,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 88,400,000 | 124,500,000 | | | | | |
Sales and marketing | | | | | | | | | | 9,900,000 | 12,800,000 | | | | | |
General and administrative | | | | | | | | | | 26,500,000 | 34,600,000 | | | | | |
Transaction-related compensation | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 89,900,000 | 118,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 700,000 | 0 | | | | | |
Transaction costs | | | | | | | | | | 1,300,000 | 1,000,000 | | | | | |
Management fees charged by CBI | | | | | | | | | | 0 | 0 | | | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | 0 | | | | | |
Total costs and expenses | | | | | | | | | | 219,500,000 | 290,900,000 | | | | | |
Operating income (loss) | | | | | | | | | | 28,900,000 | 40,000,000 | | | | | |
Interest expense | | | | | | | | | | 41,200,000 | 39,500,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 13,600,000 | | | | | |
Other income | | | | | | | | | | -100,000 | 0 | | | | | |
Net loss before income taxes | | | | | | | | | | -13,500,000 | -13,100,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | -1,900,000 | -1,400,000 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | -200,000 | 0 | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 89,900,000 | 118,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 6,000,000 | 10,300,000 | | | | | |
Noncash interest expense | | | | | | | | | | 4,000,000 | 3,400,000 | | | | | |
Provision for bad debt write off | | | | | | | | | | 400,000 | 800,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 13,600,000 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | 0 | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 600,000 | 0 | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -15,700,000 | -37,000,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | -14,600,000 | 6,900,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 18,400,000 | -200,000 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | -100,000 | 9,800,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 77,400,000 | 111,100,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | -48,000,000 | 0 | | | | | |
Capital expenditures – other | | | | | | | | | | -172,900,000 | -284,200,000 | | | | | |
Proceeds from the sale of assets | | | | | | | | | | 0 | 0 | | | | | |
Increase in restricted cash | | | | | | | | | | 0 | 0 | | | | | |
Release of restricted cash | | | | | | | | | | 4,400,000 | 0 | | | | | |
Other | | | | | | | | | | -200,000 | 0 | | | | | |
Net cash used in investing activities | | | | | | | | | | -216,700,000 | -284,200,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 333,900,000 | 100,000 | | | | | |
Dividends/Distributions paid | | | | | | | | | | -31,000,000 | -50,900,000 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | 0 | 315,000,000 | | | | | |
Payments on revolving credit facility | | | | | | | | | | 0 | -30,000,000 | | | | | |
Payments on senior notes | | | | | | | | | | 0 | -150,200,000 | | | | | |
Borrowings from affiliates, net | | | | | | | | | | 0 | 0 | | | | | |
Repayment of related party note | | | | | | | | | | 0 | 0 | | | | | |
Proceeds from issuance of debt | | | | | | | | | | 0 | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | -5,300,000 | -3,000,000 | | | | | |
Payments on financing obligations | | | | | | | | | | -700,000 | -900,000 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | -10,200,000 | 0 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | 0 | -12,800,000 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | -1,300,000 | | | | | |
Debt issuance costs | | | | | | | | | | -1,300,000 | -5,200,000 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 275,800,000 | 60,800,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 136,500,000 | -112,300,000 | | | | | |
Cash and cash equivalents at beginning of period | | 12,300,000 | | | | 148,800,000 | | | | 12,300,000 | 148,800,000 | | | | | |
Cash and cash equivalents at end of period | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Successor [Member] | LP Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | 734,300,000 | | | | 795,000,000 | | | 795,000,000 | 734,300,000 | 795,000,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | 642,900,000 | | | | 508,100,000 | | | 508,100,000 | 642,900,000 | 508,100,000 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 15,500,000 | | | | 14,100,000 | | | 14,100,000 | 15,500,000 | 14,100,000 | | | | |
Total assets | | | 1,392,700,000 | | | | 1,317,200,000 | | | 1,317,200,000 | 1,392,700,000 | 1,317,200,000 | | | | |
Accounts payable and accrued expenses | | | 12,500,000 | | | | 7,800,000 | | | 7,800,000 | 12,500,000 | 7,800,000 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 5,600,000 | | | | 6,800,000 | | | 6,800,000 | 5,600,000 | 6,800,000 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 659,800,000 | | | | 525,000,000 | | | 525,000,000 | 659,800,000 | 525,000,000 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | 677,900,000 | | | | 539,600,000 | | | 539,600,000 | 677,900,000 | 539,600,000 | | | | |
Total shareholders’ equity | | | 714,800,000 | | | | 777,600,000 | | | 777,600,000 | 714,800,000 | 777,600,000 | | | | |
Noncontrolling interest | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 714,800,000 | | | | 777,600,000 | | | 777,600,000 | 714,800,000 | 777,600,000 | | | | |
Total liabilities and equity | | | 1,392,700,000 | | | | 1,317,200,000 | | | 1,317,200,000 | 1,392,700,000 | 1,317,200,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 36,500,000 | 38,200,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 13,600,000 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | -36,500,000 | -51,800,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -16,700,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -15,600,000 | -16,700,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -16,700,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | -20,900,000 | -35,100,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 4,000,000 | 3,400,000 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 13,600,000 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | -13,400,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | 0 | 400,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 4,800,000 | 4,700,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 6,800,000 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | -34,300,000 | -29,700,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | -337,100,000 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 66,500,000 | 97,300,000 | | | | | |
Intercompany receipts | | | | | | | | | | | 180,200,000 | | | | | |
Intercompany distributions | | | | | | | | | | | -315,000,000 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | -270,600,000 | -37,500,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 337,100,000 | 0 | | | | | |
IPO costs | | | | | | | | | | 0 | | | | | | |
Stock issuance costs | | | | | | | | | | | 0 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | 0 | | | | | |
Dividends/Distributions paid | | | | | | | | | | -31,000,000 | -50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 315,000,000 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | -30,000,000 | | | | | |
Payments on senior notes | | | | | | | | | | | -150,200,000 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | 0 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | -12,800,000 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 1,300,000 | | | | | |
Debt issuance costs | | | | | | | | | | -1,300,000 | -5,200,000 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 304,800,000 | 67,200,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | -100,000 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 100,000 | | | | 0 | | | | 100,000 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accounts payable and accrued expenses | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total shareholders’ equity | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Noncontrolling interest | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities and equity | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | 0 | 0 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | 0 | 0 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | 0 | 0 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | 0 | 0 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 0 | 0 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
IPO costs | | | | | | | | | | 0 | | | | | | |
Stock issuance costs | | | | | | | | | | | 0 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | 0 | | | | | |
Dividends/Distributions paid | | | | | | | | | | 0 | 0 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | 0 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 0 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 0 | 0 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 0 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 0 | | | | 0 | | | | 0 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | Guarantors [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 89,700,000 | | | | 89,300,000 | | | 89,300,000 | 89,700,000 | 89,300,000 | | | | |
Buildings and improvements | | | 770,900,000 | | | | 739,600,000 | | | 739,600,000 | 770,900,000 | 739,600,000 | | | | |
Equipment | | | 348,300,000 | | | | 189,400,000 | | | 189,400,000 | 348,300,000 | 189,400,000 | | | | |
Construction in progress | | | 124,800,000 | | | | 57,300,000 | | | 57,300,000 | 124,800,000 | 57,300,000 | | | | |
Subtotal | | | 1,333,700,000 | | | | 1,075,600,000 | | | 1,075,600,000 | 1,333,700,000 | 1,075,600,000 | | | | |
Accumulated depreciation | | | -319,700,000 | | | | -232,000,000 | | | -232,000,000 | -319,700,000 | -232,000,000 | | | | |
Net investment in real estate | | | 1,014,000,000 | | | | 843,600,000 | | | 843,600,000 | 1,014,000,000 | 843,600,000 | | | | |
Cash and cash equivalents | | | 33,500,000 | | | | 146,800,000 | | | 146,800,000 | 33,500,000 | 146,800,000 | | | | |
Investment in subsidiary | | | 3,600,000 | | | | 2,100,000 | | | 2,100,000 | 3,600,000 | 2,100,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 57,900,000 | | | | 40,300,000 | | | 40,300,000 | 57,900,000 | 40,300,000 | | | | |
Intercompany receivable | | | 0 | | | | 200,000 | | | 200,000 | 0 | 200,000 | | | | |
Goodwill | | | 276,200,000 | | | | 276,200,000 | | | 276,200,000 | 276,200,000 | 276,200,000 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 68,900,000 | | | | 85,900,000 | | | 85,900,000 | 68,900,000 | 85,900,000 | | | | |
Due from affiliates | | | 800,000 | | | | 600,000 | | | 600,000 | 800,000 | 600,000 | | | | |
Other assets | | | 73,100,000 | | | | 53,000,000 | | | 53,000,000 | 73,100,000 | 53,000,000 | | | | |
Total assets | | | 1,528,000,000 | | | | 1,448,700,000 | | | 1,448,700,000 | 1,528,000,000 | 1,448,700,000 | | | | |
Accounts payable and accrued expenses | | | 56,900,000 | | | | 58,600,000 | | | 58,600,000 | 56,900,000 | 58,600,000 | | | | |
Deferred revenue | | | 65,100,000 | | | | 55,100,000 | | | 55,100,000 | 65,100,000 | 55,100,000 | | | | |
Intercompany and loan payable | | | 642,900,000 | | | | 508,100,000 | | | 508,100,000 | 642,900,000 | 508,100,000 | | | | |
Due to affiliates | | | 1,700,000 | | | | 1,700,000 | | | 1,700,000 | 1,700,000 | 1,700,000 | | | | |
Capital lease obligations | | | 6,200,000 | | | | 8,600,000 | | | 8,600,000 | 6,200,000 | 8,600,000 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 20,900,000 | | | | 21,600,000 | | | 21,600,000 | 20,900,000 | 21,600,000 | | | | |
Total liabilities | | | 793,700,000 | | | | 653,700,000 | | | 653,700,000 | 793,700,000 | 653,700,000 | | | | |
Total shareholders’ equity | | | 734,300,000 | | | | 795,000,000 | | | 795,000,000 | 734,300,000 | 795,000,000 | | | | |
Noncontrolling interest | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 734,300,000 | | | | 795,000,000 | | | 795,000,000 | 734,300,000 | 795,000,000 | | | | |
Total liabilities and equity | | | 1,528,000,000 | | | | 1,448,700,000 | | | 1,448,700,000 | 1,528,000,000 | 1,448,700,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 244,300,000 | 325,100,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 85,900,000 | 121,900,000 | | | | | |
Sales and marketing | | | | | | | | | | 9,700,000 | 12,600,000 | | | | | |
General and administrative | | | | | | | | | | 26,300,000 | 34,200,000 | | | | | |
Depreciation and amortization | | | | | | | | | | 87,100,000 | 115,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 700,000 | | | | | | |
Transaction costs | | | | | | | | | | 1,300,000 | 1,000,000 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | | | | | | |
Total costs and expenses | | | | | | | | | | 213,800,000 | 284,700,000 | | | | | |
Operating income (loss) | | | | | | | | | | 30,500,000 | 40,400,000 | | | | | |
Interest expense | | | | | | | | | | 1,800,000 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 0 | | | | | |
Other income | | | | | | | | | | -100,000 | | | | | | |
Net loss before income taxes | | | | | | | | | | 27,500,000 | 40,400,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | -1,900,000 | -1,400,000 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | -200,000 | | | | | | |
Net loss | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 4,500,000 | 3,900,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 87,100,000 | 115,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 6,000,000 | 10,300,000 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 400,000 | 800,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 0 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 600,000 | | | | | | |
Other, net | | | | | | | | | | -16,200,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -9,900,000 | -35,300,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 200,000 | 2,100,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 18,400,000 | -200,000 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | -300,000 | 10,000,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 115,800,000 | 141,700,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | -48,000,000 | | | | | | |
Capital expenditures – other | | | | | | | | | | -172,900,000 | -283,900,000 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 4,400,000 | | | | | | |
Return of investment | | | | | | | | | | 0 | -45,400,000 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | -200,000 | | | | | | |
Net cash used in investing activities | | | | | | | | | | -216,700,000 | -329,300,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
IPO costs | | | | | | | | | | -3,200,000 | | | | | | |
Stock issuance costs | | | | | | | | | | | 0 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | 0 | | | | | |
Dividends/Distributions paid | | | | | | | | | | -31,000,000 | -50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 315,000,000 | | | | | |
Intercompany payments | | | | | | | | | | | -180,200,000 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | -4,400,000 | -2,400,000 | | | | | |
Payments on financing obligations | | | | | | | | | | -500,000 | -700,000 | | | | | |
Payments to buyout capital leases | | | | | | | | | | -9,600,000 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | -10,200,000 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 295,400,000 | -6,500,000 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 236,500,000 | 74,300,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 135,600,000 | -113,300,000 | | | | | |
Cash and cash equivalents at beginning of period | | 11,200,000 | | | | 146,800,000 | | | | 11,200,000 | 146,800,000 | | | | | |
Cash and cash equivalents at end of period | | | 33,500,000 | | | | 146,800,000 | | | 146,800,000 | 33,500,000 | 146,800,000 | | | | |
Successor [Member] | Non-Guarantor [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 41,700,000 | | | | 44,100,000 | | | 44,100,000 | 41,700,000 | 44,100,000 | | | | |
Equipment | | | 800,000 | | | | 800,000 | | | 800,000 | 800,000 | 800,000 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 42,500,000 | | | | 44,900,000 | | | 44,900,000 | 42,500,000 | 44,900,000 | | | | |
Accumulated depreciation | | | -7,300,000 | | | | -4,700,000 | | | -4,700,000 | -7,300,000 | -4,700,000 | | | | |
Net investment in real estate | | | 35,200,000 | | | | 40,200,000 | | | 40,200,000 | 35,200,000 | 40,200,000 | | | | |
Cash and cash equivalents | | | 3,000,000 | | | | 2,000,000 | | | 2,000,000 | 3,000,000 | 2,000,000 | | | | |
Investment in subsidiary | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 3,000,000 | | | | 900,000 | | | 900,000 | 3,000,000 | 900,000 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 3,200,000 | | | | 3,200,000 | | | 3,200,000 | 3,200,000 | 3,200,000 | | | | |
Total assets | | | 44,400,000 | | | | 46,300,000 | | | 46,300,000 | 44,400,000 | 46,300,000 | | | | |
Accounts payable and accrued expenses | | | 500,000 | | | | 400,000 | | | 400,000 | 500,000 | 400,000 | | | | |
Deferred revenue | | | 600,000 | | | | 800,000 | | | 800,000 | 600,000 | 800,000 | | | | |
Intercompany and loan payable | | | 0 | | | | 200,000 | | | 200,000 | 0 | 200,000 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 7,200,000 | | | | 8,100,000 | | | 8,100,000 | 7,200,000 | 8,100,000 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 32,500,000 | | | | 34,700,000 | | | 34,700,000 | 32,500,000 | 34,700,000 | | | | |
Total liabilities | | | 40,800,000 | | | | 44,200,000 | | | 44,200,000 | 40,800,000 | 44,200,000 | | | | |
Total shareholders’ equity | | | 3,600,000 | | | | 2,100,000 | | | 2,100,000 | 3,600,000 | 2,100,000 | | | | |
Noncontrolling interest | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 3,600,000 | | | | 2,100,000 | | | 2,100,000 | 3,600,000 | 2,100,000 | | | | |
Total liabilities and equity | | | 44,400,000 | | | | 46,300,000 | | | 46,300,000 | 44,400,000 | 46,300,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 4,100,000 | 5,800,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 2,500,000 | 2,600,000 | | | | | |
Sales and marketing | | | | | | | | | | 200,000 | 200,000 | | | | | |
General and administrative | | | | | | | | | | 200,000 | 400,000 | | | | | |
Depreciation and amortization | | | | | | | | | | 2,800,000 | 3,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 5,700,000 | 6,200,000 | | | | | |
Operating income (loss) | | | | | | | | | | -1,600,000 | -400,000 | | | | | |
Interest expense | | | | | | | | | | 2,900,000 | 3,500,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 2,800,000 | 3,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -3,000,000 | -2,100,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 300,000 | 100,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 200,000 | -200,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | -4,200,000 | -3,100,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | -300,000 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 0 | -300,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
IPO costs | | | | | | | | | | 0 | | | | | | |
Stock issuance costs | | | | | | | | | | | 0 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | 0 | | | | | |
Dividends/Distributions paid | | | | | | | | | | 0 | 0 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | -900,000 | -600,000 | | | | | |
Payments on financing obligations | | | | | | | | | | -200,000 | -200,000 | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | 0 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 6,300,000 | 5,200,000 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 5,200,000 | 4,400,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 1,000,000 | 1,000,000 | | | | | |
Cash and cash equivalents at beginning of period | | 1,000,000 | | | | 2,000,000 | | | | 1,000,000 | 2,000,000 | | | | | |
Cash and cash equivalents at end of period | | | 3,000,000 | | | | 2,000,000 | | | 2,000,000 | 3,000,000 | 2,000,000 | | | | |
Successor [Member] | Eliminations/Consolidations [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 2,200,000 | | | | 0 | | | 0 | 2,200,000 | 0 | | | | |
Subtotal | | | 2,200,000 | | | | 0 | | | 0 | 2,200,000 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 2,200,000 | | | | 0 | | | 0 | 2,200,000 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | -1,203,500,000 | | | | -1,126,900,000 | | | -1,126,900,000 | -1,203,500,000 | -1,126,900,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | -642,900,000 | | | | -508,300,000 | | | -508,300,000 | -642,900,000 | -508,300,000 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total assets | | | -1,844,200,000 | | | | -1,635,200,000 | | | -1,635,200,000 | -1,844,200,000 | -1,635,200,000 | | | | |
Accounts payable and accrued expenses | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | -642,900,000 | | | | -508,300,000 | | | -508,300,000 | -642,900,000 | -508,300,000 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | -642,900,000 | | | | -508,300,000 | | | -508,300,000 | -642,900,000 | -508,300,000 | | | | |
Total shareholders’ equity | | | -1,457,600,000 | | | | -1,582,500,000 | | | -1,582,500,000 | -1,457,600,000 | -1,582,500,000 | | | | |
Noncontrolling interest | | | 256,300,000 | | | | 455,600,000 | | | 455,600,000 | 256,300,000 | 455,600,000 | | | | |
Total equity | | | -1,201,300,000 | | | | -1,126,900,000 | | | -1,126,900,000 | -1,201,300,000 | -1,126,900,000 | | | | |
Total liabilities and equity | | | -1,844,200,000 | | | | -1,635,200,000 | | | -1,635,200,000 | -1,844,200,000 | -1,635,200,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 0 | -2,200,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | 0 | 2,200,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | -10,900,000 | -21,000,000 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -10,900,000 | -18,800,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | -10,300,000 | -6,700,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -600,000 | -12,100,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -10,900,000 | -18,800,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 10,900,000 | 21,000,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 36,700,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -12,200,000 | 0 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | -17,600,000 | 0 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | -6,800,000 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 100,000 | 2,200,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | 674,200,000 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | -77,100,000 | -77,100,000 | | | | | |
Intercompany receipts | | | | | | | | | | | -180,200,000 | | | | | |
Intercompany distributions | | | | | | | | | | | 315,000,000 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 597,100,000 | 57,700,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | -337,100,000 | 0 | | | | | |
IPO costs | | | | | | | | | | 0 | | | | | | |
Stock issuance costs | | | | | | | | | | | 0 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | 0 | | | | | |
Dividends/Distributions paid | | | | | | | | | | 41,600,000 | 74,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | -315,000,000 | | | | | |
Intercompany payments | | | | | | | | | | | 180,200,000 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | 0 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | -301,700,000 | 0 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | -597,200,000 | -59,900,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 0 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 0 | | | | 0 | | | | 0 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | General Partner [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | 7,100,000 | | | | 7,800,000 | | | 7,800,000 | 7,100,000 | 7,800,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total assets | | | 7,100,000 | | | | 7,800,000 | | | 7,800,000 | 7,100,000 | 7,800,000 | | | | |
Accounts payable and accrued expenses | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total shareholders’ equity | | | 7,100,000 | | | | 7,800,000 | | | 7,800,000 | 7,100,000 | 7,800,000 | | | | |
Noncontrolling interest | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 7,100,000 | | | | 7,800,000 | | | 7,800,000 | 7,100,000 | 7,800,000 | | | | |
Total liabilities and equity | | | 7,100,000 | | | | 7,800,000 | | | 7,800,000 | 7,100,000 | 7,800,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | 0 | 0 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | -200,000 | -200,000 | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -200,000 | -200,000 | | | | | |
Noncontrolling interest in net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -200,000 | -200,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -200,000 | -200,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 200,000 | 200,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 0 | 0 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
IPO costs | | | | | | | | | | 0 | | | | | | |
Stock issuance costs | | | | | | | | | | | 0 | | | | | |
Acquisition of operating partnership units | | | | | | | | | | | 0 | | | | | |
Dividends/Distributions paid | | | | | | | | | | 0 | 0 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | 0 | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | 0 | | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 0 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 0 | 0 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 0 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 0 | | | | 0 | | | | 0 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | CyrusOne L.P. [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 89,700,000 | | | | 89,300,000 | | | 89,300,000 | 89,700,000 | 89,300,000 | | | | |
Buildings and improvements | | | 812,600,000 | | | | 783,700,000 | | | 783,700,000 | 812,600,000 | 783,700,000 | | | | |
Equipment | | | 349,100,000 | | | | 190,200,000 | | | 190,200,000 | 349,100,000 | 190,200,000 | | | | |
Construction in progress | | | 127,000,000 | | | | 57,300,000 | | | 57,300,000 | 127,000,000 | 57,300,000 | | | | |
Subtotal | | | 1,378,400,000 | | | | 1,120,500,000 | | | 1,120,500,000 | 1,378,400,000 | 1,120,500,000 | | | | |
Accumulated depreciation | | | -327,000,000 | | | | -236,700,000 | | | -236,700,000 | -327,000,000 | -236,700,000 | | | | |
Net investment in real estate | | | 1,051,400,000 | | | | 883,800,000 | | | 883,800,000 | 1,051,400,000 | 883,800,000 | | | | |
Cash and cash equivalents | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Investment in subsidiary | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 60,900,000 | | | | 41,200,000 | | | 41,200,000 | 60,900,000 | 41,200,000 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 276,200,000 | | | | 276,200,000 | | | 276,200,000 | 276,200,000 | 276,200,000 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 68,900,000 | | | | 85,900,000 | | | 85,900,000 | 68,900,000 | 85,900,000 | | | | |
Due from affiliates | | | 800,000 | | | | 600,000 | | | 600,000 | 800,000 | 600,000 | | | | |
Other assets | | | 91,800,000 | | | | 70,300,000 | | | 70,300,000 | 91,800,000 | 70,300,000 | | | | |
Total assets | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Accounts payable and accrued expenses | | | 69,900,000 | | | | 66,800,000 | | | 66,800,000 | 69,900,000 | 66,800,000 | | | | |
Deferred revenue | | | 65,700,000 | | | | 55,900,000 | | | 55,900,000 | 65,700,000 | 55,900,000 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 7,300,000 | | | | 8,500,000 | | | 8,500,000 | 7,300,000 | 8,500,000 | | | | |
Capital lease obligations | | | 13,400,000 | | | | 16,700,000 | | | 16,700,000 | 13,400,000 | 16,700,000 | | | | |
Long-term debt | | | 659,800,000 | | | | 525,000,000 | | | 525,000,000 | 659,800,000 | 525,000,000 | | | | |
Other financing arrangements | | | 53,400,000 | | | | 56,300,000 | | | 56,300,000 | 53,400,000 | 56,300,000 | | | | |
Total liabilities | | | 869,500,000 | | | | 729,200,000 | | | 729,200,000 | 869,500,000 | 729,200,000 | | | | |
Total equity | | | 717,000,000 | | | | 777,600,000 | | | 777,600,000 | 717,000,000 | 777,600,000 | | | | |
Total liabilities and equity | | | 1,586,500,000 | | | | 1,506,800,000 | | | 1,506,800,000 | 1,586,500,000 | 1,506,800,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 248,400,000 | 330,900,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 88,400,000 | 124,500,000 | | | | | |
Sales and marketing | | | | | | | | | | 9,900,000 | 12,800,000 | | | | | |
General and administrative | | | | | | | | | | 26,500,000 | 34,600,000 | | | | | |
Depreciation and amortization | | | | | | | | | | 89,900,000 | 118,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 1,300,000 | | | | | | |
Transaction costs | | | | | | | | | | 700,000 | 1,000,000 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | | | | | | |
Total costs and expenses | | | | | | | | | | 219,500,000 | 290,900,000 | | | | | |
Operating income (loss) | | | | | | | | | | 28,900,000 | 40,000,000 | | | | | |
Interest expense | | | | | | | | | | 41,200,000 | 39,500,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 13,600,000 | | | | | |
Other income | | | | | | | | | | -100,000 | | | | | | |
Net loss before income taxes | | | | | | | | | | -13,500,000 | -13,100,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | -1,900,000 | -1,400,000 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Loss from continuing operations | | | | | | | | | | -15,400,000 | | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | -200,000 | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -14,500,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 89,900,000 | 118,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 6,000,000 | 10,300,000 | | | | | |
Noncash interest expense | | | | | | | | | | 4,000,000 | 3,400,000 | | | | | |
Provision for bad debt write off | | | | | | | | | | 400,000 | 800,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 13,600,000 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 600,000 | | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -15,700,000 | -37,000,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | -14,600,000 | 6,900,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 18,400,000 | -200,000 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | -100,000 | 9,800,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 77,400,000 | 111,100,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | -48,000,000 | | | | | | |
Capital expenditures – other | | | | | | | | | | -172,900,000 | -284,200,000 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 4,400,000 | | | | | | |
Intercompany advances, net | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | -200,000 | | | | | | |
Net cash used in investing activities | | | | | | | | | | -216,700,000 | -284,200,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 333,900,000 | 100,000 | | | | | |
Stock issuance costs | | | | | | | | | | -31,000,000 | | | | | | |
Dividends/Distributions paid | | | | | | | | | | -5,300,000 | -50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 315,000,000 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | -30,000,000 | | | | | |
Payments on senior notes | | | | | | | | | | | -150,200,000 | | | | | |
Payments on capital lease obligations | | | | | | | | | | -9,600,000 | | | | | | |
Payments on financing obligations | | | | | | | | | | -700,000 | | | | | | |
Payments to buyout capital leases | | | | | | | | | | -10,200,000 | -3,000,000 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | | -900,000 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | -12,800,000 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | -1,300,000 | | | | | |
Debt issuance costs | | | | | | | | | | -1,300,000 | -5,200,000 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 275,800,000 | 60,800,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 136,500,000 | -112,300,000 | | | | | |
Cash and cash equivalents at beginning of period | | 12,300,000 | | | | 148,800,000 | | | | 12,300,000 | 148,800,000 | | | | | |
Cash and cash equivalents at end of period | | | 36,500,000 | | | | 148,800,000 | | | 148,800,000 | 36,500,000 | 148,800,000 | | | | |
Successor [Member] | CyrusOne L.P. [Member] | LP Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | 734,300,000 | | | | 795,000,000 | | | 795,000,000 | 734,300,000 | 795,000,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | 642,900,000 | | | | 508,100,000 | | | 508,100,000 | 642,900,000 | 508,100,000 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 15,500,000 | | | | 14,100,000 | | | 14,100,000 | 15,500,000 | 14,100,000 | | | | |
Total assets | | | 1,392,700,000 | | | | 1,317,200,000 | | | 1,317,200,000 | 1,392,700,000 | 1,317,200,000 | | | | |
Accounts payable and accrued expenses | | | 12,500,000 | | | | 7,800,000 | | | 7,800,000 | 12,500,000 | 7,800,000 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 5,600,000 | | | | 6,800,000 | | | 6,800,000 | 5,600,000 | 6,800,000 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 659,800,000 | | | | 525,000,000 | | | 525,000,000 | 659,800,000 | 525,000,000 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | 677,900,000 | | | | 539,600,000 | | | 539,600,000 | 677,900,000 | 539,600,000 | | | | |
Total equity | | | 714,800,000 | | | | 777,600,000 | | | 777,600,000 | 714,800,000 | 777,600,000 | | | | |
Total liabilities and equity | | | 1,392,700,000 | | | | 1,317,200,000 | | | 1,317,200,000 | 1,392,700,000 | 1,317,200,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 36,500,000 | 38,200,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 13,600,000 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | -36,500,000 | -51,800,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Loss from continuing operations | | | | | | | | | | -15,600,000 | | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -16,700,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -15,600,000 | -16,700,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -15,600,000 | -16,700,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | -20,900,000 | -35,100,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 4,000,000 | 3,400,000 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 13,600,000 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | -13,400,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | 0 | 400,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 4,800,000 | 4,700,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 6,800,000 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | -34,300,000 | -29,700,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | -337,100,000 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Intercompany advances, net | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 66,500,000 | 97,300,000 | | | | | |
Intercompany receipts | | | | | | | | | | | 180,200,000 | | | | | |
Intercompany distributions | | | | | | | | | | | -315,000,000 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | -270,600,000 | -37,500,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 337,100,000 | 100,000 | | | | | |
Stock issuance costs | | | | | | | | | | -31,000,000 | | | | | | |
Dividends/Distributions paid | | | | | | | | | | 0 | -50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 315,000,000 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | -30,000,000 | | | | | |
Payments on senior notes | | | | | | | | | | | -150,200,000 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | 0 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | | 0 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | -12,800,000 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 1,200,000 | | | | | |
Debt issuance costs | | | | | | | | | | -1,300,000 | -5,200,000 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 304,800,000 | 67,200,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | -100,000 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 100,000 | | | | 0 | | | | 100,000 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | CyrusOne L.P. [Member] | Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Accounts payable and accrued expenses | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total equity | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities and equity | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | 0 | 0 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Loss from continuing operations | | | | | | | | | | 0 | | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | 0 | 0 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | 0 | 0 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | 0 | 0 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 0 | 0 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Intercompany advances, net | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 0 | 0 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
Stock issuance costs | | | | | | | | | | 0 | | | | | | |
Dividends/Distributions paid | | | | | | | | | | 0 | 0 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | 0 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | | 0 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 0 | 0 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 0 | 0 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 0 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 0 | | | | 0 | | | | 0 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Successor [Member] | CyrusOne L.P. [Member] | Guarantors [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 89,700,000 | | | | 89,300,000 | | | 89,300,000 | 89,700,000 | 89,300,000 | | | | |
Buildings and improvements | | | 770,900,000 | | | | 739,600,000 | | | 739,600,000 | 770,900,000 | 739,600,000 | | | | |
Equipment | | | 348,300,000 | | | | 189,400,000 | | | 189,400,000 | 348,300,000 | 189,400,000 | | | | |
Construction in progress | | | 124,800,000 | | | | 57,300,000 | | | 57,300,000 | 124,800,000 | 57,300,000 | | | | |
Subtotal | | | 1,333,700,000 | | | | 1,075,600,000 | | | 1,075,600,000 | 1,333,700,000 | 1,075,600,000 | | | | |
Accumulated depreciation | | | -319,700,000 | | | | -232,000,000 | | | -232,000,000 | -319,700,000 | -232,000,000 | | | | |
Net investment in real estate | | | 1,014,000,000 | | | | 843,600,000 | | | 843,600,000 | 1,014,000,000 | 843,600,000 | | | | |
Cash and cash equivalents | | | 33,500,000 | | | | 146,800,000 | | | 146,800,000 | 33,500,000 | 146,800,000 | | | | |
Investment in subsidiary | | | 3,600,000 | | | | 2,100,000 | | | 2,100,000 | 3,600,000 | 2,100,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 57,900,000 | | | | 40,300,000 | | | 40,300,000 | 57,900,000 | 40,300,000 | | | | |
Intercompany receivable | | | 0 | | | | 200,000 | | | 200,000 | 0 | 200,000 | | | | |
Goodwill | | | 276,200,000 | | | | 276,200,000 | | | 276,200,000 | 276,200,000 | 276,200,000 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 68,900,000 | | | | 85,900,000 | | | 85,900,000 | 68,900,000 | 85,900,000 | | | | |
Due from affiliates | | | 800,000 | | | | 600,000 | | | 600,000 | 800,000 | 600,000 | | | | |
Other assets | | | 73,100,000 | | | | 53,000,000 | | | 53,000,000 | 73,100,000 | 53,000,000 | | | | |
Total assets | | | 1,528,000,000 | | | | 1,448,700,000 | | | 1,448,700,000 | 1,528,000,000 | 1,448,700,000 | | | | |
Accounts payable and accrued expenses | | | 56,900,000 | | | | 58,600,000 | | | 58,600,000 | 56,900,000 | 58,600,000 | | | | |
Deferred revenue | | | 65,100,000 | | | | 55,100,000 | | | 55,100,000 | 65,100,000 | 55,100,000 | | | | |
Intercompany and loan payable | | | 642,900,000 | | | | 508,100,000 | | | 508,100,000 | 642,900,000 | 508,100,000 | | | | |
Due to affiliates | | | 1,700,000 | | | | 1,700,000 | | | 1,700,000 | 1,700,000 | 1,700,000 | | | | |
Capital lease obligations | | | 6,200,000 | | | | 8,600,000 | | | 8,600,000 | 6,200,000 | 8,600,000 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 20,900,000 | | | | 21,600,000 | | | 21,600,000 | 20,900,000 | 21,600,000 | | | | |
Total liabilities | | | 793,700,000 | | | | 653,700,000 | | | 653,700,000 | 793,700,000 | 653,700,000 | | | | |
Total equity | | | 734,300,000 | | | | 795,000,000 | | | 795,000,000 | 734,300,000 | 795,000,000 | | | | |
Total liabilities and equity | | | 1,528,000,000 | | | | 1,448,700,000 | | | 1,448,700,000 | 1,528,000,000 | 1,448,700,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 244,300,000 | 325,100,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 85,900,000 | 121,900,000 | | | | | |
Sales and marketing | | | | | | | | | | 9,700,000 | 12,600,000 | | | | | |
General and administrative | | | | | | | | | | 26,300,000 | 34,200,000 | | | | | |
Depreciation and amortization | | | | | | | | | | 87,100,000 | 115,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 1,300,000 | | | | | | |
Transaction costs | | | | | | | | | | 700,000 | 1,000,000 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | | | | | | |
Total costs and expenses | | | | | | | | | | 213,800,000 | 284,700,000 | | | | | |
Operating income (loss) | | | | | | | | | | 30,500,000 | 40,400,000 | | | | | |
Interest expense | | | | | | | | | | 1,800,000 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 0 | | | | | |
Other income | | | | | | | | | | -100,000 | | | | | | |
Net loss before income taxes | | | | | | | | | | 27,500,000 | 40,400,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | -1,900,000 | -1,400,000 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Loss from continuing operations | | | | | | | | | | 21,100,000 | | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | -200,000 | | | | | | |
Net loss | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | 20,900,000 | 35,100,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 4,500,000 | 3,900,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 87,100,000 | 115,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 6,000,000 | 10,300,000 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 400,000 | 800,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 1,300,000 | 0 | | | | | |
Asset impairments | | | | | | | | | | 2,800,000 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 600,000 | | | | | | |
Other, net | | | | | | | | | | -16,200,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -9,900,000 | -35,300,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 200,000 | 2,100,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 18,400,000 | -200,000 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | -300,000 | 10,000,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 115,800,000 | 141,700,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | -48,000,000 | | | | | | |
Capital expenditures – other | | | | | | | | | | -172,900,000 | -283,900,000 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 4,400,000 | | | | | | |
Intercompany advances, net | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | -45,400,000 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | -200,000 | | | | | | |
Net cash used in investing activities | | | | | | | | | | -216,700,000 | -329,300,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | -3,200,000 | 0 | | | | | |
Stock issuance costs | | | | | | | | | | -31,000,000 | | | | | | |
Dividends/Distributions paid | | | | | | | | | | -4,400,000 | -50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | 315,000,000 | | | | | |
Intercompany payments | | | | | | | | | | | -180,200,000 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | -9,600,000 | | | | | | |
Payments on financing obligations | | | | | | | | | | -500,000 | | | | | | |
Payments to buyout capital leases | | | | | | | | | | -10,200,000 | -2,400,000 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | | -700,000 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 295,400,000 | -6,500,000 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 236,500,000 | 74,300,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 135,600,000 | -113,300,000 | | | | | |
Cash and cash equivalents at beginning of period | | 11,200,000 | | | | 146,800,000 | | | | 11,200,000 | 146,800,000 | | | | | |
Cash and cash equivalents at end of period | | | 33,500,000 | | | | 146,800,000 | | | 146,800,000 | 33,500,000 | 146,800,000 | | | | |
Successor [Member] | CyrusOne L.P. [Member] | Non-Guarantor [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 41,700,000 | | | | 44,100,000 | | | 44,100,000 | 41,700,000 | 44,100,000 | | | | |
Equipment | | | 800,000 | | | | 800,000 | | | 800,000 | 800,000 | 800,000 | | | | |
Construction in progress | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Subtotal | | | 42,500,000 | | | | 44,900,000 | | | 44,900,000 | 42,500,000 | 44,900,000 | | | | |
Accumulated depreciation | | | -7,300,000 | | | | -4,700,000 | | | -4,700,000 | -7,300,000 | -4,700,000 | | | | |
Net investment in real estate | | | 35,200,000 | | | | 40,200,000 | | | 40,200,000 | 35,200,000 | 40,200,000 | | | | |
Cash and cash equivalents | | | 3,000,000 | | | | 2,000,000 | | | 2,000,000 | 3,000,000 | 2,000,000 | | | | |
Investment in subsidiary | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 3,000,000 | | | | 900,000 | | | 900,000 | 3,000,000 | 900,000 | | | | |
Intercompany receivable | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 3,200,000 | | | | 3,200,000 | | | 3,200,000 | 3,200,000 | 3,200,000 | | | | |
Total assets | | | 44,400,000 | | | | 46,300,000 | | | 46,300,000 | 44,400,000 | 46,300,000 | | | | |
Accounts payable and accrued expenses | | | 500,000 | | | | 400,000 | | | 400,000 | 500,000 | 400,000 | | | | |
Deferred revenue | | | 600,000 | | | | 800,000 | | | 800,000 | 600,000 | 800,000 | | | | |
Intercompany and loan payable | | | 0 | | | | 200,000 | | | 200,000 | 0 | 200,000 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 7,200,000 | | | | 8,100,000 | | | 8,100,000 | 7,200,000 | 8,100,000 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 32,500,000 | | | | 34,700,000 | | | 34,700,000 | 32,500,000 | 34,700,000 | | | | |
Total liabilities | | | 40,800,000 | | | | 44,200,000 | | | 44,200,000 | 40,800,000 | 44,200,000 | | | | |
Total equity | | | 3,600,000 | | | | 2,100,000 | | | 2,100,000 | 3,600,000 | 2,100,000 | | | | |
Total liabilities and equity | | | 44,400,000 | | | | 46,300,000 | | | 46,300,000 | 44,400,000 | 46,300,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 4,100,000 | 5,800,000 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 2,500,000 | 2,600,000 | | | | | |
Sales and marketing | | | | | | | | | | 200,000 | 200,000 | | | | | |
General and administrative | | | | | | | | | | 200,000 | 400,000 | | | | | |
Depreciation and amortization | | | | | | | | | | 2,800,000 | 3,000,000 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 5,700,000 | 6,200,000 | | | | | |
Operating income (loss) | | | | | | | | | | -1,600,000 | -400,000 | | | | | |
Interest expense | | | | | | | | | | 2,900,000 | 3,500,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Loss from continuing operations | | | | | | | | | | -4,500,000 | | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -4,500,000 | -3,900,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 0 | 0 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 2,800,000 | 3,000,000 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 0 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -3,000,000 | -2,100,000 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | 300,000 | 100,000 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | 0 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 200,000 | -200,000 | | | | | |
Net cash provided by operating activities | | | | | | | | | | -4,200,000 | -3,100,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | -300,000 | | | | | |
Investment in subsidiaries | | | | | | | | | | 0 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Intercompany advances, net | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | 0 | 0 | | | | | |
Intercompany receipts | | | | | | | | | | | 0 | | | | | |
Intercompany distributions | | | | | | | | | | | 0 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 0 | -300,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
Stock issuance costs | | | | | | | | | | 0 | | | | | | |
Dividends/Distributions paid | | | | | | | | | | -900,000 | 0 | | | | | |
Intercompany borrowings | | | | | | | | | | | 0 | | | | | |
Intercompany payments | | | | | | | | | | | 0 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | | | | | | |
Payments on financing obligations | | | | | | | | | | -200,000 | | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | -600,000 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | | -200,000 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | 6,300,000 | 5,200,000 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | 5,200,000 | 4,400,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 1,000,000 | 1,000,000 | | | | | |
Cash and cash equivalents at beginning of period | | 1,000,000 | | | | 2,000,000 | | | | 1,000,000 | 2,000,000 | | | | | |
Cash and cash equivalents at end of period | | | 3,000,000 | | | | 2,000,000 | | | 2,000,000 | 3,000,000 | 2,000,000 | | | | |
Successor [Member] | CyrusOne L.P. [Member] | Eliminations/Consolidations [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Land | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Buildings and improvements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Equipment | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Construction in progress | | | 2,200,000 | | | | 0 | | | 0 | 2,200,000 | 0 | | | | |
Subtotal | | | 2,200,000 | | | | 0 | | | 0 | 2,200,000 | 0 | | | | |
Accumulated depreciation | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Net investment in real estate | | | 2,200,000 | | | | 0 | | | 0 | 2,200,000 | 0 | | | | |
Cash and cash equivalents | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Investment in subsidiary | | | -737,900,000 | | | | -797,100,000 | | | -797,100,000 | -737,900,000 | -797,100,000 | | | | |
Rent and other receivables, net of allowance for doubtful accounts of $1.0 and $0.5 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany receivable | | | -642,900,000 | | | | -508,300,000 | | | -508,300,000 | -642,900,000 | -508,300,000 | | | | |
Goodwill | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intangible assets, net of accumulated amortization of $72.1 and $55.1 as of December 31, 2014 and December 31, 2013, respectively | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Due from affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other assets | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total assets | | | -1,378,600,000 | | | | -1,305,400,000 | | | -1,305,400,000 | -1,378,600,000 | -1,305,400,000 | | | | |
Accounts payable and accrued expenses | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Deferred revenue | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Intercompany and loan payable | | | -642,900,000 | | | | -508,300,000 | | | -508,300,000 | -642,900,000 | -508,300,000 | | | | |
Due to affiliates | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Capital lease obligations | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Long-term debt | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Other financing arrangements | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Total liabilities | | | -642,900,000 | | | | -508,300,000 | | | -508,300,000 | -642,900,000 | -508,300,000 | | | | |
Total equity | | | -735,700,000 | | | | -797,100,000 | | | -797,100,000 | -735,700,000 | -797,100,000 | | | | |
Total liabilities and equity | | | -1,378,600,000 | | | | -1,305,400,000 | | | -1,305,400,000 | -1,378,600,000 | -1,305,400,000 | | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | | | | | | | | | | 0 | 0 | | | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | | | | | | | | | | 0 | 0 | | | | | |
Sales and marketing | | | | | | | | | | 0 | 0 | | | | | |
General and administrative | | | | | | | | | | 0 | 0 | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Restructuring charges | | | | | | | | | | 0 | | | | | | |
Transaction costs | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Total costs and expenses | | | | | | | | | | 0 | 0 | | | | | |
Operating income (loss) | | | | | | | | | | 0 | 0 | | | | | |
Interest expense | | | | | | | | | | 0 | -2,200,000 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Other income | | | | | | | | | | 0 | | | | | | |
Net loss before income taxes | | | | | | | | | | 0 | 2,200,000 | | | | | |
Income tax (expense) benefit | | | | | | | | | | 0 | 0 | | | | | |
Equity loss related to investment in subsidiaries | | | | | | | | | | -16,400,000 | -31,200,000 | | | | | |
Loss from continuing operations | | | | | | | | | | -16,400,000 | | | | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | 0 | | | | | | |
Net loss | | | | | | | | | | -16,400,000 | -29,000,000 | | | | | |
Net loss attributed to common shareholders | | | | | | | | | | -16,400,000 | -29,000,000 | | | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | | | | | | | | | | -16,400,000 | -29,000,000 | | | | | |
Equity earnings (loss) related to investment in subsidiaries | | | | | | | | | | 16,400,000 | 31,200,000 | | | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | | | | | | | | | | 0 | 0 | | | | | |
Stock-based compensation expense | | | | | | | | | | 0 | 0 | | | | | |
Noncash interest expense | | | | | | | | | | 0 | 0 | | | | | |
Provision for bad debt write off | | | | | | | | | | 0 | 0 | | | | | |
Loss on extinguishment of debt | | | | | | | | | | 0 | 0 | | | | | |
Asset impairments | | | | | | | | | | 0 | | | | | | |
Deferred income tax expense (benefit), including valuation allowance change | | | | | | | | | | 0 | | | | | | |
Other, net | | | | | | | | | | 29,600,000 | | | | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | | | | | | | | | | -2,800,000 | 0 | | | | | |
Increase (decrease) in accounts payable and accrued expenses | | | | | | | | | | -19,900,000 | 0 | | | | | |
(Decrease) increase in payables to related parties | | | | | | | | | | -6,800,000 | 0 | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by operating activities | | | | | | | | | | 100,000 | 2,200,000 | | | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | 0 | | | | | | |
Capital expenditures – other | | | | | | | | | | 0 | 0 | | | | | |
Investment in subsidiaries | | | | | | | | | | 337,100,000 | | | | | | |
Release of restricted cash | | | | | | | | | | 0 | | | | | | |
Intercompany advances, net | | | | | | | | | | 0 | | | | | | |
Return of investment | | | | | | | | | | -66,500,000 | -51,900,000 | | | | | |
Intercompany receipts | | | | | | | | | | | -180,200,000 | | | | | |
Intercompany distributions | | | | | | | | | | | 315,000,000 | | | | | |
Other | | | | | | | | | | 0 | | | | | | |
Net cash used in investing activities | | | | | | | | | | 270,600,000 | 82,900,000 | | | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | | | | | | | | | | 0 | 0 | | | | | |
Stock issuance costs | | | | | | | | | | 31,000,000 | | | | | | |
Dividends/Distributions paid | | | | | | | | | | 0 | 50,900,000 | | | | | |
Intercompany borrowings | | | | | | | | | | | -315,000,000 | | | | | |
Intercompany payments | | | | | | | | | | | 180,200,000 | | | | | |
Borrowings from revolving credit agreement | | | | | | | | | | | 0 | | | | | |
Payments on revolving credit facility | | | | | | | | | | | 0 | | | | | |
Payments on senior notes | | | | | | | | | | | 0 | | | | | |
Payments on capital lease obligations | | | | | | | | | | 0 | | | | | | |
Payments on financing obligations | | | | | | | | | | 0 | | | | | | |
Payments to buyout capital leases | | | | | | | | | | 0 | 0 | | | | | |
Payment to buyout other financing arrangements | | | | | | | | | | | 0 | | | | | |
Payment of debt extinguishment costs | | | | | | | | | | | 0 | | | | | |
Contributions from/(distributions to) parent, net | | | | | | | | | | -301,700,000 | -1,200,000 | | | | | |
Debt issuance costs | | | | | | | | | | 0 | 0 | | | | | |
Net cash provided by (used in) by financing activities | | | | | | | | | | -270,700,000 | -85,100,000 | | | | | |
Net (decrease) increase in cash and cash equivalents | | | | | | | | | | 0 | 0 | | | | | |
Cash and cash equivalents at beginning of period | | 0 | | | | 0 | | | | 0 | 0 | | | | | |
Cash and cash equivalents at end of period | | | 0 | | | | 0 | | | 0 | 0 | 0 | | | | |
Predecessor [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 12,300,000 | | | | | | | | | | | | 16,500,000 | | | |
Total equity | | | | | | | | | | | | | 500,100,000 | | | 0 |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 15,100,000 | | | | | | | | | | | | 220,800,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 4,800,000 | | | | | | | | | | | | 76,000,000 | | | |
Sales and marketing | 700,000 | | | | | | | | | | | | 9,700,000 | | | |
General and administrative | 1,500,000 | | | | | | | | | | | | 20,700,000 | | | |
Transaction-related compensation | 20,000,000 | | | | | | | | | | | | 0 | | | |
Depreciation and amortization | 5,300,000 | | | | | | | | | | | | 73,400,000 | | | |
Restructuring charges | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 100,000 | | | | | | | | | | | | 5,700,000 | | | |
Management fees charged by CBI | 0 | | | | | | | | | | | | 2,500,000 | | | |
Loss on sale of receivables to an affiliate | 0 | | | | | | | | | | | | 3,200,000 | | | |
Asset impairments | 0 | | | | | | | | | | | | 13,300,000 | | | |
Total costs and expenses | 32,400,000 | | | | | | | | | | | | 204,500,000 | | | |
Operating income (loss) | -17,300,000 | | | | | | | | | | | | 16,300,000 | | | |
Interest expense | 2,500,000 | | | | | | | | | | | | 41,800,000 | | | |
Loss on extinguishment of debt | 0 | | | | | | | | | | | | 0 | | | |
Other income | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | -19,800,000 | | | | | | | | | | | | -25,500,000 | | | |
Income tax (expense) benefit | -400,000 | | | | | | | | | | | | 5,100,000 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
(Loss) gain on sale of real estate improvements | 0 | | | | | | | | | | | | 100,000 | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Net loss attributed to common shareholders | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 5,900,000 | | | | | | | | | | | | 85,600,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,300,000 | | | | | | | | | | | | 73,400,000 | | | |
Stock-based compensation expense | 200,000 | | | | | | | | | | | | 0 | | | |
Noncash interest expense | 100,000 | | | | | | | | | | | | 300,000 | | | |
Provision for bad debt write off | 0 | | | | | | | | | | | | 100,000 | | | |
Loss on extinguishment of debt | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | 0 | | | | | | | | | | | | 13,300,000 | | | |
Deferred income tax expense (benefit), including valuation allowance change | 300,000 | | | | | | | | | | | | -4,500,000 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | -9,600,000 | | | | | | | | | | | | -24,000,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 20,500,000 | | | | | | | | | | | | -600,000 | | | |
(Decrease) increase in payables to related parties | 1,500,000 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in deferred revenues | 3,200,000 | | | | | | | | | | | | 3,800,000 | | | |
Other changes in assets and liabilities | 3,900,000 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 2,000,000 | | | | | | | | | | | | 44,500,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | 0 | | | | | | | | | | | | -25,400,000 | | | |
Capital expenditures – other | -7,700,000 | | | | | | | | | | | | -202,900,000 | | | |
Proceeds from the sale of assets | 0 | | | | | | | | | | | | 200,000 | | | |
Increase in restricted cash | 0 | | | | | | | | | | | | -11,100,000 | | | |
Release of restricted cash | 1,900,000 | | | | | | | | | | | | 4,800,000 | | | |
Advances to affiliate | | | | | | | | | | | | | -18,300,000 | | | |
Intercompany advances, net | 0 | | | | | | | | | | | | 0 | | | |
Other | 0 | | | | | | | | | | | | 100,000 | | | |
Net cash used in investing activities | -5,800,000 | | | | | | | | | | | | -252,600,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | 0 | | | | | | | | | | | | 0 | | | |
IPO costs | 0 | | | | | | | | | | | | 0 | | | |
Stock issuance costs | 0 | | | | | | | | | | | | 0 | | | |
Acquisition of operating partnership units | 0 | | | | | | | | | | | | 0 | | | |
Dividends/Distributions paid | 0 | | | | | | | | | | | | 0 | | | |
Borrowings from revolving credit agreement | 0 | | | | | | | | | | | | 0 | | | |
Payments on revolving credit facility | 0 | | | | | | | | | | | | 0 | | | |
Payments on senior notes | 0 | | | | | | | | | | | | 0 | | | |
Borrowings from affiliates, net | 0 | | | | | | | | | | | | 119,800,000 | | | |
Repayment of related party note | 0 | | | | | | | | | | | | -400,000,000 | | | |
Proceeds from issuance of debt | 0 | | | | | | | | | | | | 525,000,000 | | | |
Payments on capital lease obligations | -600,000 | | | | | | | | | | | | -9,000,000 | | | |
Payments on financing obligations | 0 | | | | | | | | | | | | 0 | | | |
Payment to buyout other financing arrangements | 0 | | | | | | | | | | | | 0 | | | |
Payment of debt extinguishment costs | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 200,000 | | | | | | | | | | | | 5,400,000 | | | |
Debt issuance costs | 0 | | | | | | | | | | | | -17,200,000 | | | |
Net cash provided by (used in) by financing activities | -400,000 | | | | | | | | | | | | 224,000,000 | | | |
Net (decrease) increase in cash and cash equivalents | -4,200,000 | | | | | | | | | | | | 15,900,000 | | | |
Cash and cash equivalents at beginning of period | 16,500,000 | | | | | | | | | | | 16,500,000 | 600,000 | | | |
Cash and cash equivalents at end of period | 12,300,000 | | | | | | | | | | | | 16,500,000 | | | |
Predecessor [Member] | Parent Company [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 0 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | 0 | | | |
Interest expense | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | 0 | | | | | | | | | | | | 0 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Net loss attributed to common shareholders | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | -7,900,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | 800,000 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | -7,100,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | 0 | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 7,100,000 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 7,100,000 | | | |
Net (decrease) increase in cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 0 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | CyrusOne LP [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 12,300,000 | | | | | | | | | | | | 16,500,000 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 15,100,000 | | | | | | | | | | | | 220,800,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 4,800,000 | | | | | | | | | | | | 76,000,000 | | | |
Sales and marketing | 700,000 | | | | | | | | | | | | 9,700,000 | | | |
General and administrative | 1,500,000 | | | | | | | | | | | | 20,700,000 | | | |
Transaction-related compensation | 20,000,000 | | | | | | | | | | | | 0 | | | |
Depreciation and amortization | 5,300,000 | | | | | | | | | | | | 73,400,000 | | | |
Restructuring charges | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 100,000 | | | | | | | | | | | | 5,700,000 | | | |
Management fees charged by CBI | 0 | | | | | | | | | | | | 2,500,000 | | | |
Loss on sale of receivables to an affiliate | 0 | | | | | | | | | | | | 3,200,000 | | | |
Asset impairments | 0 | | | | | | | | | | | | 13,300,000 | | | |
Total costs and expenses | 32,400,000 | | | | | | | | | | | | 204,500,000 | | | |
Operating income (loss) | -17,300,000 | | | | | | | | | | | | 16,300,000 | | | |
Interest expense | 2,500,000 | | | | | | | | | | | | 41,800,000 | | | |
Loss on extinguishment of debt | 0 | | | | | | | | | | | | 0 | | | |
Other income | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | -19,800,000 | | | | | | | | | | | | -25,500,000 | | | |
Income tax (expense) benefit | -400,000 | | | | | | | | | | | | 5,100,000 | | | |
(Loss) gain on sale of real estate improvements | 0 | | | | | | | | | | | | 100,000 | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,300,000 | | | | | | | | | | | | 73,400,000 | | | |
Stock-based compensation expense | 200,000 | | | | | | | | | | | | 0 | | | |
Noncash interest expense | 100,000 | | | | | | | | | | | | 300,000 | | | |
Provision for bad debt write off | 0 | | | | | | | | | | | | 100,000 | | | |
Loss on extinguishment of debt | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | 0 | | | | | | | | | | | | 13,300,000 | | | |
Deferred income tax expense (benefit), including valuation allowance change | 300,000 | | | | | | | | | | | | -4,500,000 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | -9,600,000 | | | | | | | | | | | | -16,100,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 20,500,000 | | | | | | | | | | | | -1,400,000 | | | |
(Decrease) increase in payables to related parties | 1,500,000 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in deferred revenues | 3,200,000 | | | | | | | | | | | | 3,800,000 | | | |
Net cash provided by operating activities | 2,000,000 | | | | | | | | | | | | 51,600,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | 0 | | | | | | | | | | | | -25,400,000 | | | |
Capital expenditures – other | -7,700,000 | | | | | | | | | | | | -202,900,000 | | | |
Proceeds from the sale of assets | 0 | | | | | | | | | | | | 200,000 | | | |
Increase in restricted cash | 0 | | | | | | | | | | | | -11,100,000 | | | |
Release of restricted cash | 1,900,000 | | | | | | | | | | | | 4,800,000 | | | |
Other | 0 | | | | | | | | | | | | 100,000 | | | |
Net cash used in investing activities | -5,800,000 | | | | | | | | | | | | -252,600,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Issuance of common stock/partnership units | 0 | | | | | | | | | | | | 0 | | | |
Dividends/Distributions paid | 0 | | | | | | | | | | | | 0 | | | |
Borrowings from revolving credit agreement | 0 | | | | | | | | | | | | 0 | | | |
Payments on revolving credit facility | 0 | | | | | | | | | | | | 0 | | | |
Payments on senior notes | 0 | | | | | | | | | | | | 0 | | | |
Borrowings from affiliates, net | 0 | | | | | | | | | | | | 119,800,000 | | | |
Repayment of related party note | 0 | | | | | | | | | | | | -400,000,000 | | | |
Proceeds from issuance of debt | 0 | | | | | | | | | | | | 525,000,000 | | | |
Payments on capital lease obligations | -600,000 | | | | | | | | | | | | -9,000,000 | | | |
Payments on financing obligations | 0 | | | | | | | | | | | | 0 | | | |
Payment to buyout other financing arrangements | 0 | | | | | | | | | | | | 0 | | | |
Payment of debt extinguishment costs | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 200,000 | | | | | | | | | | | | -1,700,000 | | | |
Debt issuance costs | 0 | | | | | | | | | | | | -17,200,000 | | | |
Net cash provided by (used in) by financing activities | -400,000 | | | | | | | | | | | | 216,900,000 | | | |
Net (decrease) increase in cash and cash equivalents | -4,200,000 | | | | | | | | | | | | 15,900,000 | | | |
Cash and cash equivalents at beginning of period | 16,500,000 | | | | | | | | | | | 16,500,000 | 600,000 | | | |
Cash and cash equivalents at end of period | 12,300,000 | | | | | | | | | | | | 16,500,000 | | | |
Predecessor [Member] | LP Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 100,000 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 5,700,000 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 5,700,000 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | -5,700,000 | | | |
Interest expense | 2,300,000 | | | | | | | | | | | | 4,200,000 | | | |
Net loss before income taxes | -2,300,000 | | | | | | | | | | | | -9,900,000 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Net loss attributed to common shareholders | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 17,900,000 | | | | | | | | | | | | 10,400,000 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 200,000 | | | | | | | | | | | | 200,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 2,100,000 | | | | | | | | | | | | 4,400,000 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | -5,300,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | 100,000 | | | | | | | | | | | | -508,200,000 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 100,000 | | | | | | | | | | | | -508,200,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 525,000,000 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 5,700,000 | | | |
Debt issuance costs | | | | | | | | | | | | | -17,200,000 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 513,500,000 | | | |
Net (decrease) increase in cash and cash equivalents | 100,000 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 100,000 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 0 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | 0 | | | |
Interest expense | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | 0 | | | | | | | | | | | | 0 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Net loss attributed to common shareholders | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | 0 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | 0 | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 0 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 0 | | | |
Net (decrease) increase in cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 0 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | Guarantors [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 11,200,000 | | | | | | | | | | | | 15,600,000 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 14,900,000 | | | | | | | | | | | | 219,400,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 4,800,000 | | | | | | | | | | | | 74,100,000 | | | |
Sales and marketing | 700,000 | | | | | | | | | | | | 9,500,000 | | | |
General and administrative | 1,400,000 | | | | | | | | | | | | 20,600,000 | | | |
Transaction-related compensation | 20,000,000 | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,200,000 | | | | | | | | | | | | 71,900,000 | | | |
Transaction costs | 100,000 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 2,500,000 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 3,200,000 | | | |
Asset impairments | | | | | | | | | | | | | 13,300,000 | | | |
Total costs and expenses | 32,200,000 | | | | | | | | | | | | 195,100,000 | | | |
Operating income (loss) | -17,300,000 | | | | | | | | | | | | 24,300,000 | | | |
Interest expense | 100,000 | | | | | | | | | | | | 35,000,000 | | | |
Net loss before income taxes | -17,400,000 | | | | | | | | | | | | -10,700,000 | | | |
Income tax (expense) benefit | -400,000 | | | | | | | | | | | | 5,100,000 | | | |
Equity loss related to investment in subsidiaries | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 100,000 | | | |
Net loss | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Net loss attributed to common shareholders | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 100,000 | | | | | | | | | | | | 4,900,000 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 5,600,000 | | | | | | | | | | | | 83,900,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,200,000 | | | | | | | | | | | | 71,900,000 | | | |
Asset impairments | | | | | | | | | | | | | 13,300,000 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | -9,600,000 | | | | | | | | | | | | -15,500,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 18,400,000 | | | | | | | | | | | | -5,500,000 | | | |
(Decrease) increase in payables to related parties | 1,500,000 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 3,300,000 | | | |
Other changes in assets and liabilities | 3,800,000 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 1,900,000 | | | | | | | | | | | | 60,700,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | -25,100,000 | | | |
Capital expenditures – other | -7,700,000 | | | | | | | | | | | | -202,900,000 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 200,000 | | | |
Increase in restricted cash | | | | | | | | | | | | | -11,100,000 | | | |
Release of restricted cash | 1,900,000 | | | | | | | | | | | | 4,800,000 | | | |
Advances to affiliate | | | | | | | | | | | | | -18,300,000 | | | |
Intercompany advances, net | -100,000 | | | | | | | | | | | | 508,100,000 | | | |
Other | | | | | | | | | | | | | 100,000 | | | |
Net cash used in investing activities | -5,900,000 | | | | | | | | | | | | 255,800,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 119,800,000 | | | |
Repayment of related party note | | | | | | | | | | | | | -400,000,000 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | -600,000 | | | | | | | | | | | | -8,400,000 | | | |
Contributions from/(distributions to) parent, net | 200,000 | | | | | | | | | | | | -12,700,000 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | -400,000 | | | | | | | | | | | | -301,300,000 | | | |
Net (decrease) increase in cash and cash equivalents | -4,400,000 | | | | | | | | | | | | 15,200,000 | | | |
Cash and cash equivalents at beginning of period | 15,600,000 | | | | | | | | | | | 15,600,000 | 400,000 | | | |
Cash and cash equivalents at end of period | 11,200,000 | | | | | | | | | | | | 15,600,000 | | | |
Predecessor [Member] | Non-Guarantor [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 1,000,000 | | | | | | | | | | | | 900,000 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 200,000 | | | | | | | | | | | | 1,400,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 1,900,000 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 200,000 | | | |
General and administrative | 100,000 | | | | | | | | | | | | 100,000 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 100,000 | | | | | | | | | | | | 1,500,000 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 200,000 | | | | | | | | | | | | 3,700,000 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | -2,300,000 | | | |
Interest expense | 100,000 | | | | | | | | | | | | 2,600,000 | | | |
Net loss before income taxes | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Net loss attributed to common shareholders | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 100,000 | | | | | | | | | | | | 1,500,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 100,000 | | | | | | | | | | | | 1,500,000 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | -600,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | -300,000 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 500,000 | | | |
Other changes in assets and liabilities | 100,000 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 100,000 | | | | | | | | | | | | -3,800,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | -300,000 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | 0 | | | | | | | | | | | | 100,000 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | -200,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | -600,000 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 5,300,000 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 4,700,000 | | | |
Net (decrease) increase in cash and cash equivalents | 100,000 | | | | | | | | | | | | 700,000 | | | |
Cash and cash equivalents at beginning of period | 900,000 | | | | | | | | | | | 900,000 | 200,000 | | | |
Cash and cash equivalents at end of period | 1,000,000 | | | | | | | | | | | | 900,000 | | | |
Predecessor [Member] | Eliminations/Consolidations [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 0 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | 0 | | | |
Interest expense | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | 0 | | | | | | | | | | | | 0 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Net loss attributed to common shareholders | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | -18,000,000 | | | | | | | | | | | | -15,300,000 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | 0 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | 0 | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 0 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 0 | | | |
Net (decrease) increase in cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 0 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | General Partner [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 0 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | 0 | | | |
Interest expense | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | 0 | | | | | | | | | | | | 0 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Net loss attributed to common shareholders | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | 0 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | | | | |
Increase (decrease) in deferred revenues | | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | 0 | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 0 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 0 | | | |
Net (decrease) increase in cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 0 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | CyrusOne L.P. [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 12,300,000 | | | | | | | | | | | | 16,500,000 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 15,100,000 | | | | | | | | | | | | 220,800,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 4,800,000 | | | | | | | | | | | | 76,000,000 | | | |
Sales and marketing | 700,000 | | | | | | | | | | | | 9,700,000 | | | |
General and administrative | 1,500,000 | | | | | | | | | | | | 20,700,000 | | | |
Transaction-related compensation | 20,000,000 | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,300,000 | | | | | | | | | | | | 73,400,000 | | | |
Transaction costs | 100,000 | | | | | | | | | | | | 5,700,000 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 2,500,000 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 3,200,000 | | | |
Asset impairments | | | | | | | | | | | | | 13,300,000 | | | |
Total costs and expenses | 32,400,000 | | | | | | | | | | | | 204,500,000 | | | |
Operating income (loss) | -17,300,000 | | | | | | | | | | | | 16,300,000 | | | |
Interest expense | 2,500,000 | | | | | | | | | | | | 41,800,000 | | | |
Net loss before income taxes | -19,800,000 | | | | | | | | | | | | -25,500,000 | | | |
Income tax (expense) benefit | -400,000 | | | | | | | | | | | | 5,100,000 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Loss from continuing operations | | | | | | | | | | | | | -20,400,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 100,000 | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Net loss attributed to common shareholders | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 5,900,000 | | | | | | | | | | | | 85,600,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,300,000 | | | | | | | | | | | | 73,400,000 | | | |
Asset impairments | | | | | | | | | | | | | 13,300,000 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | -9,600,000 | | | | | | | | | | | | -16,100,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 20,500,000 | | | | | | | | | | | | -1,400,000 | | | |
(Decrease) increase in payables to related parties | 1,500,000 | | | | | | | | | | | | 3,800,000 | | | |
Other changes in assets and liabilities | 3,900,000 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 2,000,000 | | | | | | | | | | | | 51,600,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | -25,400,000 | | | |
Capital expenditures – other | -7,700,000 | | | | | | | | | | | | -202,900,000 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 200,000 | | | |
Increase in restricted cash | | | | | | | | | | | | | -11,100,000 | | | |
Release of restricted cash | 1,900,000 | | | | | | | | | | | | 4,800,000 | | | |
Advances to affiliate | 0 | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | | | | | | | | | | | | | -18,300,000 | | | |
Other | | | | | | | | | | | | | 100,000 | | | |
Net cash used in investing activities | -5,800,000 | | | | | | | | | | | | -252,600,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 119,800,000 | | | |
Repayment of related party note | | | | | | | | | | | | | -400,000,000 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 525,000,000 | | | |
Payments on capital lease obligations | -600,000 | | | | | | | | | | | | -9,000,000 | | | |
Contributions from/(distributions to) parent, net | 200,000 | | | | | | | | | | | | -1,700,000 | | | |
Debt issuance costs | | | | | | | | | | | | | -17,200,000 | | | |
Net cash provided by (used in) by financing activities | -400,000 | | | | | | | | | | | | 216,900,000 | | | |
Net (decrease) increase in cash and cash equivalents | -4,200,000 | | | | | | | | | | | | 15,900,000 | | | |
Cash and cash equivalents at beginning of period | 16,500,000 | | | | | | | | | | | 16,500,000 | 600,000 | | | |
Cash and cash equivalents at end of period | 12,300,000 | | | | | | | | | | | | 16,500,000 | | | |
Predecessor [Member] | CyrusOne L.P. [Member] | LP Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 100,000 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 5,700,000 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 5,700,000 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | -5,700,000 | | | |
Interest expense | 2,300,000 | | | | | | | | | | | | 4,200,000 | | | |
Net loss before income taxes | -2,300,000 | | | | | | | | | | | | -9,900,000 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Loss from continuing operations | | | | | | | | | | | | | -20,300,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Net loss attributed to common shareholders | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -20,200,000 | | | | | | | | | | | | -20,300,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 17,900,000 | | | | | | | | | | | | 10,400,000 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 200,000 | | | | | | | | | | | | 200,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 2,100,000 | | | | | | | | | | | | 4,400,000 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | -5,300,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | 100,000 | | | | | | | | | | | | -508,200,000 | | | |
Intercompany advances, net | | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 100,000 | | | | | | | | | | | | -508,200,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 525,000,000 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 5,700,000 | | | |
Debt issuance costs | | | | | | | | | | | | | -17,200,000 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 513,500,000 | | | |
Net (decrease) increase in cash and cash equivalents | 100,000 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 100,000 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | CyrusOne L.P. [Member] | Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 0 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | 0 | | | |
Interest expense | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | 0 | | | | | | | | | | | | 0 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Loss from continuing operations | | | | | | | | | | | | | 0 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Net loss attributed to common shareholders | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | 0 | | | | | | | | | | | | 0 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | 0 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | 0 | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 0 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 0 | | | |
Net (decrease) increase in cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 0 | | | | | | | | | | | | 0 | | | |
Predecessor [Member] | CyrusOne L.P. [Member] | Guarantors [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 11,200,000 | | | | | | | | | | | | 15,600,000 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 14,900,000 | | | | | | | | | | | | 219,400,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 4,800,000 | | | | | | | | | | | | 74,100,000 | | | |
Sales and marketing | 700,000 | | | | | | | | | | | | 9,500,000 | | | |
General and administrative | 1,400,000 | | | | | | | | | | | | 20,600,000 | | | |
Transaction-related compensation | 20,000,000 | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,200,000 | | | | | | | | | | | | 71,900,000 | | | |
Transaction costs | 100,000 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 2,500,000 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 3,200,000 | | | |
Asset impairments | | | | | | | | | | | | | 13,300,000 | | | |
Total costs and expenses | 32,200,000 | | | | | | | | | | | | 195,100,000 | | | |
Operating income (loss) | -17,300,000 | | | | | | | | | | | | 24,300,000 | | | |
Interest expense | 100,000 | | | | | | | | | | | | 35,000,000 | | | |
Net loss before income taxes | -17,400,000 | | | | | | | | | | | | -10,700,000 | | | |
Income tax (expense) benefit | -400,000 | | | | | | | | | | | | 5,100,000 | | | |
Equity loss related to investment in subsidiaries | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Loss from continuing operations | | | | | | | | | | | | | -10,500,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 100,000 | | | |
Net loss | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Net loss attributed to common shareholders | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -17,900,000 | | | | | | | | | | | | -10,400,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 100,000 | | | | | | | | | | | | 4,900,000 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 5,600,000 | | | | | | | | | | | | 83,900,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 5,200,000 | | | | | | | | | | | | 71,900,000 | | | |
Asset impairments | | | | | | | | | | | | | 13,300,000 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | -9,600,000 | | | | | | | | | | | | -15,500,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 18,400,000 | | | | | | | | | | | | -5,500,000 | | | |
(Decrease) increase in payables to related parties | 1,500,000 | | | | | | | | | | | | 3,300,000 | | | |
Other changes in assets and liabilities | 3,800,000 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 1,900,000 | | | | | | | | | | | | 60,700,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | -25,100,000 | | | |
Capital expenditures – other | -7,700,000 | | | | | | | | | | | | -202,900,000 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 200,000 | | | |
Increase in restricted cash | | | | | | | | | | | | | -11,100,000 | | | |
Release of restricted cash | 1,900,000 | | | | | | | | | | | | 4,800,000 | | | |
Advances to affiliate | -100,000 | | | | | | | | | | | | 508,100,000 | | | |
Intercompany advances, net | | | | | | | | | | | | | -18,300,000 | | | |
Other | | | | | | | | | | | | | 100,000 | | | |
Net cash used in investing activities | -5,900,000 | | | | | | | | | | | | 255,800,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 119,800,000 | | | |
Repayment of related party note | | | | | | | | | | | | | -400,000,000 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | -600,000 | | | | | | | | | | | | -8,400,000 | | | |
Contributions from/(distributions to) parent, net | 200,000 | | | | | | | | | | | | -12,700,000 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | -400,000 | | | | | | | | | | | | -301,300,000 | | | |
Net (decrease) increase in cash and cash equivalents | -4,400,000 | | | | | | | | | | | | 15,200,000 | | | |
Cash and cash equivalents at beginning of period | 15,600,000 | | | | | | | | | | | 15,600,000 | 400,000 | | | |
Cash and cash equivalents at end of period | 11,200,000 | | | | | | | | | | | | 15,600,000 | | | |
Predecessor [Member] | CyrusOne L.P. [Member] | Non-Guarantor [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 1,000,000 | | | | | | | | | | | | 900,000 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 200,000 | | | | | | | | | | | | 1,400,000 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 1,900,000 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 200,000 | | | |
General and administrative | 100,000 | | | | | | | | | | | | 100,000 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 100,000 | | | | | | | | | | | | 1,500,000 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 200,000 | | | | | | | | | | | | 3,700,000 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | -2,300,000 | | | |
Interest expense | 100,000 | | | | | | | | | | | | 2,600,000 | | | |
Net loss before income taxes | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Loss from continuing operations | | | | | | | | | | | | | -4,900,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Net loss attributed to common shareholders | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | -100,000 | | | | | | | | | | | | -4,900,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 100,000 | | | | | | | | | | | | 1,500,000 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 100,000 | | | | | | | | | | | | 1,500,000 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | -600,000 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | -300,000 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | 500,000 | | | |
Other changes in assets and liabilities | 100,000 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 100,000 | | | | | | | | | | | | -3,800,000 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | -300,000 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | 0 | | | | | | | | | | | | 100,000 | | | |
Intercompany advances, net | | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | -200,000 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | -600,000 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 5,300,000 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 4,700,000 | | | |
Net (decrease) increase in cash and cash equivalents | 100,000 | | | | | | | | | | | | 700,000 | | | |
Cash and cash equivalents at beginning of period | 900,000 | | | | | | | | | | | 900,000 | 200,000 | | | |
Cash and cash equivalents at end of period | 1,000,000 | | | | | | | | | | | | 900,000 | | | |
Predecessor [Member] | CyrusOne L.P. [Member] | Eliminations/Consolidations [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Condensed Consolidating Statements of Operations | | | | | | | | | | | | | | | | |
Revenue | 0 | | | | | | | | | | | | 0 | | | |
Costs and expenses: | | | | | | | | | | | | | | | | |
Property operating expenses | 0 | | | | | | | | | | | | 0 | | | |
Sales and marketing | 0 | | | | | | | | | | | | 0 | | | |
General and administrative | 0 | | | | | | | | | | | | 0 | | | |
Transaction-related compensation | 0 | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Transaction costs | 0 | | | | | | | | | | | | 0 | | | |
Management fees charged by CBI | | | | | | | | | | | | | 0 | | | |
Loss on sale of receivables to an affiliate | | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Total costs and expenses | 0 | | | | | | | | | | | | 0 | | | |
Operating income (loss) | 0 | | | | | | | | | | | | 0 | | | |
Interest expense | 0 | | | | | | | | | | | | 0 | | | |
Net loss before income taxes | 0 | | | | | | | | | | | | 0 | | | |
Income tax (expense) benefit | 0 | | | | | | | | | | | | 0 | | | |
Equity loss related to investment in subsidiaries | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Loss from continuing operations | | | | | | | | | | | | | 15,300,000 | | | |
(Loss) gain on sale of real estate improvements | | | | | | | | | | | | | 0 | | | |
Net loss | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Net loss attributed to common shareholders | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Condensed Consolidating Statements of Cash Flows | | | | | | | | | | | | | | | | |
Net loss | 18,000,000 | | | | | | | | | | | | 15,300,000 | | | |
Equity earnings (loss) related to investment in subsidiaries | -18,000,000 | | | | | | | | | | | | -15,300,000 | | | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Adjustments to reconcile net loss to net cash provided by operating activities: | | | | | | | | | | | | | | | | |
Depreciation and amortization | 0 | | | | | | | | | | | | 0 | | | |
Asset impairments | | | | | | | | | | | | | 0 | | | |
Changes in operating assets and liabilities, net of effects of acquisitions: | | | | | | | | | | | | | | | | |
Increase in receivables and other assets | 0 | | | | | | | | | | | | 0 | | | |
Increase (decrease) in accounts payable and accrued expenses | 0 | | | | | | | | | | | | 0 | | | |
(Decrease) increase in payables to related parties | 0 | | | | | | | | | | | | 0 | | | |
Other changes in assets and liabilities | 0 | | | | | | | | | | | | | | | |
Net cash provided by operating activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from investing activities: | | | | | | | | | | | | | | | | |
Capital expenditures – acquisitions of real estate | | | | | | | | | | | | | 0 | | | |
Capital expenditures – other | 0 | | | | | | | | | | | | 0 | | | |
Proceeds from the sale of assets | | | | | | | | | | | | | 0 | | | |
Increase in restricted cash | | | | | | | | | | | | | 0 | | | |
Release of restricted cash | 0 | | | | | | | | | | | | 0 | | | |
Advances to affiliate | 0 | | | | | | | | | | | | 0 | | | |
Intercompany advances, net | | | | | | | | | | | | | 0 | | | |
Other | | | | | | | | | | | | | 0 | | | |
Net cash used in investing activities | 0 | | | | | | | | | | | | 0 | | | |
Cash flows from financing activities: | | | | | | | | | | | | | | | | |
Borrowings from affiliates, net | | | | | | | | | | | | | 0 | | | |
Repayment of related party note | | | | | | | | | | | | | 0 | | | |
Proceeds from issuance of debt | | | | | | | | | | | | | 0 | | | |
Payments on capital lease obligations | 0 | | | | | | | | | | | | 0 | | | |
Contributions from/(distributions to) parent, net | 0 | | | | | | | | | | | | 0 | | | |
Debt issuance costs | | | | | | | | | | | | | 0 | | | |
Net cash provided by (used in) by financing activities | 0 | | | | | | | | | | | | 0 | | | |
Net (decrease) increase in cash and cash equivalents | 0 | | | | | | | | | | | | 0 | | | |
Cash and cash equivalents at beginning of period | 0 | | | | | | | | | | | 0 | 0 | | | |
Cash and cash equivalents at end of period | 0 | | | | | | | | | | | | 0 | | | |
IPO [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Net proceeds from IPO after underwriting discounts and commissions | | | | | | | | | | | | | | 371,700,000 | | |
IPO [Member] | Parent Company [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Net proceeds from IPO after underwriting discounts and commissions | | | | | | | | | | | | | | | 337,100,000 | |
IPO [Member] | CyrusOne L.P. [Member] | Parent Company [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Net proceeds from IPO after underwriting discounts and commissions | | | | | | | | | | | | | | | 337,100,000 | |
6.375% Senior Notes Due 2022 [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Long-term debt | | | 374,800,000 | | | | 525,000,000 | | | 525,000,000 | 374,800,000 | 525,000,000 | | | | |
6.375% Senior Notes Due 2022 [Member] | CyrusOne GP [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of senior notes | | | | | | | | 100.00% | | | | | | | | |
6.375% Senior Notes Due 2022 [Member] | LP Co-Issuer and Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Long-term debt | | | 374,800,000 | | | | | | | | 374,800,000 | | | | | |
6.375% Senior Notes Due 2022 [Member] | CyrusOne L.P. [Member] | CyrusOne LP [Member] | | | | | | | | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | | | | | | | | |
Ownership percentage of senior notes | | | | | | | | 100.00% | | | | | | | | |
6.375% Senior Notes Due 2022 [Member] | CyrusOne L.P. [Member] | LP Co-Issuer and Finance Co-Issuer [Member] | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheets | | | | | | | | | | | | | | | | |
Long-term debt | | | $525,000,000 | | | | | | | | $525,000,000 | | | | | |