2015 Q4 Form 10-Q Financial Statement

#000148251215000045 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $154.7M $151.6M $68.16M
YoY Change 124.83% 122.37% 27.76%
Cost Of Revenue $57.10M $57.80M $31.40M
YoY Change 114.66% 84.08% 37.12%
Gross Profit $97.50M $93.70M $36.80M
YoY Change 137.8% 154.62% 21.05%
Gross Profit Margin 63.05% 61.83% 53.99%
Selling, General & Admin $9.600M $9.400M $6.800M
YoY Change 5.49% 38.24% 36.0%
% of Gross Profit 9.85% 10.03% 18.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $74.20M $80.20M $17.36M
YoY Change 267.33% 361.93% -14.29%
% of Gross Profit 76.1% 85.59% 47.18%
Operating Expenses $83.70M $147.4M $24.10M
YoY Change 185.67% 511.58% -4.74%
Operating Profit $13.80M $4.165M $12.62M
YoY Change 18.58% -67.0% 144.14%
Interest Expense -$16.60M $14.46M $6.550M
YoY Change 159.38% 120.78% -10.51%
% of Operating Profit -120.26% 347.2% 51.89%
Other Income/Expense, Net -$100.0K -$3.000K $100.0K
YoY Change -103.0%
Pretax Income -$2.700M -$1.800M $11.50M
YoY Change -400.0% -115.65% -542.31%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$6.460M -$3.905M $7.620M
YoY Change 182.1% -151.25% -233.83%
Net Earnings / Revenue -4.18% -2.58% 11.18%
Basic Earnings Per Share
Diluted Earnings Per Share -$21.35K -$34.83K $168.4K
COMMON SHARES
Basic Shares Outstanding 89.49M shares 88.98M shares 67.05M shares
Diluted Shares Outstanding 88.98M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.60M $46.70M $69.40M
YoY Change 201.12% -32.71% 136.86%
Cash & Equivalents $53.55M $46.67M $69.40M
Short-Term Investments
Other Short-Term Assets $27.30M $21.60M $11.60M
YoY Change 173.0% 86.21% 87.1%
Inventory
Prepaid Expenses
Receivables $80.50M $73.40M $45.70M
Other Receivables $28.60M $28.60M $28.10M
Total Short-Term Assets $190.0M $170.3M $154.8M
YoY Change 80.44% 10.01% 131.04%
LONG-TERM ASSETS
Property, Plant & Equipment $5.391B $5.681B $2.016B
YoY Change 164.68% 181.81% 6.47%
Goodwill $8.754M $8.754M $8.754M
YoY Change 0.0% 0.0% 0.0%
Intangibles $318.0M $353.1M $109.5M
YoY Change 211.72% 222.52% 2.27%
Long-Term Investments $0.00
YoY Change
Other Assets $348.3M $41.50M $28.50M
YoY Change 322.69% 45.61% 9.62%
Total Long-Term Assets $6.064B $6.084B $2.163B
YoY Change 171.95% 181.33% 6.26%
TOTAL ASSETS
Total Short-Term Assets $190.0M $170.3M $154.8M
Total Long-Term Assets $6.064B $6.084B $2.163B
Total Assets $6.254B $6.255B $2.317B
YoY Change 167.82% 169.89% 10.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $82.40M $90.10M $35.60M
YoY Change 123.91% 153.09% -9.41%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $102.7M $111.9M $42.00M
YoY Change 138.28% 166.43% -7.49%
LONG-TERM LIABILITIES
Long-Term Debt $2.261B $2.088B $920.9M
YoY Change 147.69% 126.77% 3.33%
Other Long-Term Liabilities $151.4M $143.1M $55.50M
YoY Change 60.72% 157.84% -18.02%
Total Long-Term Liabilities $2.412B $2.231B $976.4M
YoY Change 139.56% 128.53% 1.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $102.7M $111.9M $42.00M
Total Long-Term Liabilities $2.412B $2.231B $976.4M
Total Liabilities $2.515B $2.343B $1.018B
YoY Change 139.52% 130.09% 2.69%
SHAREHOLDERS EQUITY
Retained Earnings -$44.96M -$44.59M -$32.66M
YoY Change 28.87% 36.53% -27.58%
Common Stock $891.0K $891.0K $668.0K
YoY Change 33.38% 33.38% 17.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.666B $1.825B $1.192B
YoY Change
Total Liabilities & Shareholders Equity $6.254B $6.255B $2.317B
YoY Change 167.82% 169.89% 10.23%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$6.460M -$3.905M $7.620M
YoY Change 182.1% -151.25% -233.83%
Depreciation, Depletion And Amortization $74.20M $80.20M $17.36M
YoY Change 267.33% 361.93% -14.29%
Cash From Operating Activities $54.70M $57.50M $22.40M
YoY Change 1016.33% 156.7% 73.64%
INVESTING ACTIVITIES
Capital Expenditures -$55.90M -$85.10M -$27.60M
YoY Change -32.0% 208.33% -93.01%
Acquisitions
YoY Change
Other Investing Activities $0.00 $91.30M -$12.00M
YoY Change -100.0% -860.83% -116.44%
Cash From Investing Activities -$55.90M $6.200M -$39.60M
YoY Change -29.86% -115.66% -87.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.000M -57.50M 53.80M
YoY Change -61.21% -206.88% -77.76%
NET CHANGE
Cash From Operating Activities 54.70M 57.50M 22.40M
Cash From Investing Activities -55.90M 6.200M -39.60M
Cash From Financing Activities 9.000M -57.50M 53.80M
Net Change In Cash 7.800M 6.200M 36.60M
YoY Change -115.12% -83.06% -154.55%
FREE CASH FLOW
Cash From Operating Activities $54.70M $57.50M $22.40M
Capital Expenditures -$55.90M -$85.10M -$27.60M
Free Cash Flow $110.6M $142.6M $50.00M
YoY Change 26.98% 185.2% -87.74%

Facts In Submission

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635000 USD
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us-gaap Asset Impairment Charges
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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5538000 USD
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5538000 USD
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us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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0.00
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0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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0.00
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4925000 USD
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3532000 USD
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14705000 USD
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2900000 USD
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1523000 USD
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389000 USD
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2340885000 USD
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892000 USD
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2842000 USD
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1746000 USD
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0 USD
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58346000 USD
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259000 USD
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155000 USD
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4668000 USD
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68000 USD
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206000 USD
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79000 USD
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229000 USD
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3195000 USD
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9585000 USD
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9590000 USD
CY2015Q3 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
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3195000 USD
CY2014Q4 us-gaap Notes Payable Fair Value Disclosure
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10027000 USD
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1084000 USD
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16327000 USD
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3000 USD
us-gaap Other Nonoperating Expense
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2000 USD
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us-gaap Payments For Capital Improvements
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2500000 USD
us-gaap Payments For Deposits On Real Estate Acquisitions
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0 USD
us-gaap Payments For Repurchase Of Common Stock
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0 USD
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1749000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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6531000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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304000 USD
us-gaap Payments For Repurchase Of Common Stock
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1833000 USD
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2325000 USD
us-gaap Payments Of Debt Issuance Costs
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18245000 USD
us-gaap Payments Of Distributions To Affiliates
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298000 USD
us-gaap Payments Of Distributions To Affiliates
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0 USD
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us-gaap Payments Of Dividends Common Stock
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46737000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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9590000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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9585000 USD
us-gaap Payments Of Stock Issuance Costs
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674000 USD
CY2014Q4 us-gaap Notes Receivable Fair Value Disclosure
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CY2015Q3 us-gaap Notes Receivable Fair Value Disclosure
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28528000 USD
CY2014Q4 us-gaap Off Market Lease Unfavorable
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CY2015Q3 us-gaap Off Market Lease Unfavorable
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CY2014Q3 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
OperatingIncomeLoss
37037000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4165000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
33585000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
2261080000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
114533000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
261572000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
301609000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
360682000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
431628000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
780000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
6300000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
11999000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
21857000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-17153000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19637000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
117000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
2430000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6186000 USD
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
113580000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1804596000 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
28112000 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
75580000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
1804596000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
6692000 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
21611000 USD
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
0 USD
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
217795000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
385600000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
197468000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
385589000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
332886000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1428616000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-2385000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-1746000 USD
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
18629000 USD
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
177488000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
11415000 USD
us-gaap Profit Loss
ProfitLoss
22637000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-1828000 USD
us-gaap Profit Loss
ProfitLoss
-13337000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-326000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
435000 USD
CY2014Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
68534000 USD
CY2015Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
134657000 USD
CY2015Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
228828000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2171295000 USD
CY2015Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
5909799000 USD
CY2014Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2036638000 USD
CY2015Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
5680971000 USD
CY2014Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
68155000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
185880000 USD
CY2015Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
151556000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
366199000 USD
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
10177000 USD
CY2015Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
10177000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
341636000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
299479000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
14244000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
18606000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34884000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44592000 USD
CY2014Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
6257000 USD
CY2015Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
21839000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5047000 USD
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
285445000 USD
CY2014 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3129000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1833000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1179174000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
1824772000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1102866000 USD
CY2015Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
31.75
CY2015Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
11000000 shares
CY2015Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6037500 shares
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
197468000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
385589000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1275015000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3900956000 USD
us-gaap Straight Line Rent
StraightLineRent
9830000 USD
us-gaap Straight Line Rent
StraightLineRent
24037000 USD
CY2014Q4 us-gaap Tenant Improvements
TenantImprovements
116317000 USD
CY2015Q3 us-gaap Tenant Improvements
TenantImprovements
280079000 USD
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66506179 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
65549741 shares
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
88984236 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
84894863 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including those related to acquiring, developing and assessing the carrying values of its real estate properties, its accrued liabilities, and its performance-based equity compensation awards. The Company bases its estimates on historical experience, current market conditions, and various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from these estimates.</font></div></div>

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