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Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors (Tables) | 6 Months Ended
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Jun. 30, 2018
Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors |
Schedule of selected consolidated Balance sheet statements of Parent, Guarantors, Canada Company and Non-Guarantors | CONSOLIDATED BALANCE SHEETS
| December 31, 2017
| Parent |  | Guarantors |  | Non- Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents(1) | $ | 2,433 |  |  | $ | 634,317 |  |  | $ | 383,675 |  |  | $ | (94,726 | ) |  | $ | 925,699 |
Accounts receivable | — |  |  | 32,972 |  |  | 802,770 |  |  | — |  |  | 835,742 |
Intercompany receivable | 332,293 |  |  | 149,731 |  |  | — |  |  | (482,024 | ) |  | — |
Prepaid expenses and other | 1,579 |  |  | 103,643 |  |  | 83,681 |  |  | (29 | ) |  | 188,874 |
Total Current Assets | 336,305 |  |  | 920,663 |  |  | 1,270,126 |  |  | (576,779 | ) |  | 1,950,315 |
Property, Plant and Equipment, Net | 316 |  |  | 2,030,875 |  |  | 1,386,488 |  |  | — |  |  | 3,417,679 |
Other Assets, Net: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term notes receivable from affiliates and intercompany receivable | 4,578,995 |  |  | — |  |  | — |  |  | (4,578,995 | ) |  | — |
Investment in subsidiaries | 1,858,045 |  |  | 885,999 |  |  | — |  |  | (2,744,044 | ) |  | — |
Goodwill | — |  |  | 2,577,310 |  |  | 1,492,957 |  |  | — |  |  | 4,070,267 |
Other | — |  |  | 796,913 |  |  | 737,228 |  |  | — |  |  | 1,534,141 |
Total Other Assets, Net | 6,437,040 |  |  | 4,260,222 |  |  | 2,230,185 |  |  | (7,323,039 | ) |  | 5,604,408 |
Total Assets | $ | 6,773,661 |  |  | $ | 7,211,760 |  |  | $ | 4,886,799 |  |  | $ | (7,899,818 | ) |  | $ | 10,972,402 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany Payable | $ | — |  |  | $ | — |  |  | $ | 482,024 |  |  | $ | (482,024 | ) |  | $ | — |
Debit Balances Under Cash Pools | — |  |  | 56,233 |  |  | 38,493 |  |  | (94,726 | ) |  | — |
Current Portion of Long-Term Debt | — |  |  | 54,247 |  |  | 92,082 |  |  | (29 | ) |  | 146,300 |
Total Other Current Liabilities | 235,062 |  |  | 527,549 |  |  | 421,262 |  |  | — |  |  | 1,183,873 |
Long-Term Debt, Net of Current Portion | 4,232,759 |  |  | 758,166 |  |  | 1,906,046 |  |  | — |  |  | 6,896,971 |
Long-Term Notes Payable to Affiliates and Intercompany Payable | — |  |  | 4,578,995 |  |  | — |  |  | (4,578,995 | ) |  | — |
Other Long-term Liabilities | — |  |  | 113,024 |  |  | 241,974 |  |  | — |  |  | 354,998 |
Commitments and Contingencies (See Note 8) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redeemable Noncontrolling Interests | 8,402 |  |  | — |  |  | 83,016 |  |  | — |  |  | 91,418 |
Total Iron Mountain Incorporated Stockholders' Equity | 2,297,438 |  |  | 1,123,546 |  |  | 1,620,498 |  |  | (2,744,044 | ) |  | 2,297,438 |
Noncontrolling Interests | — |  |  | — |  |  | 1,404 |  |  | — |  |  | 1,404 |
Total Equity | 2,297,438 |  |  | 1,123,546 |  |  | 1,621,902 |  |  | (2,744,044 | ) |  | 2,298,842 |
Total Liabilities and Equity | $ | 6,773,661 |  |  | $ | 7,211,760 |  |  | $ | 4,886,799 |  |  | $ | (7,899,818 | ) |  | $ | 10,972,402 |
______________________________________________________________
(1) | Included within Cash and Cash Equivalents at December 31, 2017 is approximately $38,400 and $62,000 of cash on deposit associated with our Cash Pools for the Guarantors and Non-Guarantors, respectively.
CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
| June 30, 2018
| Parent |  | Guarantors |  | Non- Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents(1) | $ | 62 |  |  | $ | 50,056 |  |  | $ | 227,993 |  |  | $ | (89,919 | ) |  | $ | 188,192 |
Accounts receivable | — |  |  | 58,280 |  |  | 808,761 |  |  | — |  |  | 867,041 |
Intercompany receivable | — |  |  | 437,598 |  |  | — |  |  | (437,598 | ) |  | — |
Prepaid expenses and other | 318 |  |  | 108,078 |  |  | 80,734 |  |  | (29 | ) |  | 189,101 |
Total Current Assets | 380 |  |  | 654,012 |  |  | 1,117,488 |  |  | (527,546 | ) |  | 1,244,334 |
Property, Plant and Equipment, Net | 251 |  |  | 2,939,491 |  |  | 1,466,745 |  |  | — |  |  | 4,406,487 |
Other Assets, Net: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term notes receivable from affiliates and intercompany receivable | 4,764,133 |  |  | — |  |  | — |  |  | (4,764,133 | ) |  | — |
Investment in subsidiaries | 1,892,689 |  |  | 935,316 |  |  | — |  |  | (2,828,005 | ) |  | — |
Goodwill | — |  |  | 2,860,920 |  |  | 1,605,714 |  |  | — |  |  | 4,466,634 |
Other | 2,203 |  |  | 944,678 |  |  | 748,198 |  |  | — |  |  | 1,695,079 |
Total Other Assets, Net | 6,659,025 |  |  | 4,740,914 |  |  | 2,353,912 |  |  | (7,592,138 | ) |  | 6,161,713 |
Total Assets | $ | 6,659,656 |  |  | $ | 8,334,417 |  |  | $ | 4,938,145 |  |  | $ | (8,119,684 | ) |  | $ | 11,812,534 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany Payable | $ | 114,379 |  |  | $ | — |  |  | $ | 323,219 |  |  | $ | (437,598 | ) |  | $ | — |
Debit Balances Under Cash Pools | — |  |  | 48,576 |  |  | 41,343 |  |  | (89,919 | ) |  | — |
Current Portion of Long-Term Debt | — |  |  | 60,363 |  |  | 63,484 |  |  | (29 | ) |  | 123,818 |
Total Other Current Liabilities | 246,808 |  |  | 532,092 |  |  | 370,385 |  |  | — |  |  | 1,149,285 |
Long-Term Debt, Net of Current Portion | 4,227,267 |  |  | 1,637,813 |  |  | 2,096,681 |  |  | — |  |  | 7,961,761 |
Long-Term Notes Payable to Affiliates and Intercompany Payable | — |  |  | 4,764,133 |  |  | — |  |  | (4,764,133 | ) |  | — |
Other Long-term Liabilities | — |  |  | 118,575 |  |  | 306,308 |  |  | — |  |  | 424,883 |
Commitments and Contingencies (See Note 8) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redeemable Noncontrolling Interests | 15,262 |  |  | — |  |  | 80,078 |  |  | — |  |  | 95,340 |
Total Iron Mountain Incorporated Stockholders' Equity | 2,055,940 |  |  | 1,172,865 |  |  | 1,655,140 |  |  | (2,828,005 | ) |  | 2,055,940 |
Noncontrolling Interests | — |  |  | — |  |  | 1,507 |  |  | — |  |  | 1,507 |
Total Equity | 2,055,940 |  |  | 1,172,865 |  |  | 1,656,647 |  |  | (2,828,005 | ) |  | 2,057,447 |
Total Liabilities and Equity | $ | 6,659,656 |  |  | $ | 8,334,417 |  |  | $ | 4,938,145 |  |  | $ | (8,119,684 | ) |  | $ | 11,812,534 |
______________________________________________________________
(1) | Included within Cash and Cash Equivalents at June 30, 2018 is approximately $42,000 and $50,600 of cash on deposit associated with our Cash Pools for the Guarantors and Non-Guarantors, respectively.
Schedule of selected consolidated Income statements of Parent, Guarantors, Canada Company and Non-Guarantors | CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
| Three Months Ended June 30, 2017
| Parent |  | Guarantors |  | Canada Company |  | Non- Guarantors |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storage rental and service (excluding intercompany) | $ | — |  |  | $ | 574,211 |  |  | $ | 47,587 |  |  | $ | 328,008 |  |  | $ | — |  |  | $ | 949,806 |
Intercompany | — |  |  | 1,141 |  |  | — |  |  | 21,649 |  |  | (22,790 | ) |  | — |
Total Revenues | — |  |  | 575,352 |  |  | 47,587 |  |  | 349,657 |  |  | (22,790 | ) |  | 949,806 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales (excluding depreciation and amortization) and Selling, general and administrative | 273 |  |  | 389,679 |  |  | 10,585 |  |  | 251,192 |  |  | — |  |  | 651,729 |
Intercompany | — |  |  | 6,590 |  |  | 15,059 |  |  | 1,141 |  |  | (22,790 | ) |  | — |
Depreciation and amortization | 43 |  |  | 75,129 |  |  | 4,309 |  |  | 48,618 |  |  | — |  |  | 128,099 |
(Gain) Loss on disposal/write-down of property, plant and equipment (excluding real estate), net | — |  |  | (246 | ) |  | 4 |  |  | 26 |  |  | — |  |  | (216 | )
Total Operating Expenses | 316 |  | — |  | 471,152 |  | — |  | 29,957 |  | — |  | 300,977 |  |  | (22,790 | ) |  | 779,612 |
Operating (Loss) Income | (316 | ) |  | 104,200 |  |  | 17,630 |  |  | 48,680 |  |  | — |  |  | 170,194 |
Interest Expense (Income), Net | 40,377 |  |  | 15,637 |  |  | (6,035 | ) |  | 39,987 |  |  | — |  |  | 89,966 |
Other Expense (Income), Net | 339 |  |  | 543 |  |  | (127 | ) |  | (20,121 | ) |  | — |  |  | (19,366 | )
(Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes and Gain on Sale of Real Estate | (41,032 | ) |  | 88,020 |  |  | 23,792 |  |  | 28,814 |  |  | — |  |  | 99,594 |
Provision (Benefit) for Income Taxes | — |  |  | 436 |  |  | 10,010 |  |  | 7,563 |  |  | — |  |  | 18,009 |
Gain on Sale of Real Estate, Net of Tax | — |  |  | — |  |  | — |  |  | (1,563 | ) |  | — |  |  | (1,563 | )
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | (119,662 | ) |  | (29,962 | ) |  | (363 | ) |  | (13,782 | ) |  | 163,769 |  |  | — |
Income (Loss) from Continuing Operations | 78,630 |  |  | 117,546 |  |  | 14,145 |  |  | 36,596 |  |  | (163,769 | ) |  | 83,148 |
(Loss) Income from Discontinued Operations | — |  |  | (1,155 | ) |  | — |  |  | (871 | ) |  | — |  |  | (2,026 | )
Net Income (Loss) | 78,630 |  |  | 116,391 |  |  | 14,145 |  |  | 35,725 |  |  | (163,769 | ) |  | 81,122 |
Less: Net Income (Loss) Attributable to Noncontrolling Interests | — |  |  | — |  |  | — |  |  | 2,492 |  |  | — |  |  | 2,492 |
Net Income (Loss) Attributable to Iron Mountain Incorporated | $ | 78,630 |  |  | $ | 116,391 |  |  | $ | 14,145 |  |  | $ | 33,233 |  |  | $ | (163,769 | ) |  | $ | 78,630 |
Net Income (Loss) | $ | 78,630 |  |  | $ | 116,391 |  |  | $ | 14,145 |  |  | $ | 35,725 |  |  | $ | (163,769 | ) |  | $ | 81,122 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |  |  |
Foreign Currency Translation Adjustments | (7,076 | ) |  | — |  |  | 2,704 |  |  | 11,910 |  |  | — |  |  | 7,538 |
Equity in Other Comprehensive Income (Loss) of Subsidiaries | 14,725 |  |  | 11,213 |  |  | 970 |  |  | 2,704 |  |  | (29,612 | ) |  | — |
Total Other Comprehensive Income (Loss) | 7,649 |  |  | 11,213 |  |  | 3,674 |  |  | 14,614 |  |  | (29,612 | ) |  | 7,538 |
Comprehensive Income (Loss) | 86,279 |  |  | 127,604 |  |  | 17,819 |  |  | 50,339 |  |  | (193,381 | ) |  | 88,660 |
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | — |  |  | — |  |  | — |  |  | 2,381 |  |  | — |  |  | 2,381 |
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | $ | 86,279 |  |  | $ | 127,604 |  |  | $ | 17,819 |  |  | $ | 47,958 |  |  | $ | (193,381 | ) |  | $ | 86,279 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Continued)
| Three Months Ended June 30, 2018
| Parent |  | Guarantors |  | Non- Guarantors |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Storage rental and service (excluding intercompany) | $ | — |  |  | $ | 641,852 |  |  | $ | 418,971 |  |  | $ | — |  |  | $ | 1,060,823 |
Intercompany | — |  |  | 1,216 |  |  | 4,305 |  |  | (5,521 | ) |  | — |
Total Revenues | — |  |  | 643,068 |  |  | 423,276 |  |  | (5,521 | ) |  | 1,060,823 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales (excluding depreciation and amortization) and Selling, general and administrative | 36 |  |  | 419,099 |  |  | 282,655 |  |  | — |  |  | 701,790 |
Intercompany | — |  |  | 4,305 |  |  | 1,216 |  |  | (5,521 | ) |  | — |
Depreciation and amortization | 32 |  |  | 96,170 |  |  | 60,018 |  |  | — |  |  | 156,220 |
(Gain) Loss on disposal/write-down of property, plant and equipment (excluding real estate), net | — |  |  | (462 | ) |  | (84 | ) |  | — |  |  | (546 | )
Total Operating Expenses | 68 |  |  | 519,112 |  |  | 343,805 |  |  | (5,521 | ) |  | 857,464 |
Operating (Loss) Income | (68 | ) |  | 123,956 |  |  | 79,471 |  |  | — |  |  | 203,359 |
Interest Expense (Income), Net | 50,313 |  |  | 3,005 |  |  | 48,789 |  |  | — |  |  | 102,107 |
Other Expense (Income), Net | 2,767 |  |  | 6,575 |  |  | (28,398 | ) |  | — |  |  | (19,056 | )
(Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes | (53,148 | ) |  | 114,376 |  |  | 59,080 |  |  | — |  |  | 120,308 |
Provision (Benefit) for Income Taxes | — |  |  | 12,509 |  |  | 13,896 |  |  | — |  |  | 26,405 |
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | (146,549 | ) |  | (39,711 | ) |  | — |  |  | 186,260 |  |  | — |
Income (Loss) from Continuing Operations | 93,401 |  |  | 141,578 |  |  | 45,184 |  |  | (186,260 | ) |  | 93,903 |
(Loss) Income from Discontinued Operations, Net of Tax | — |  |  | (273 | ) |  | (87 | ) |  | — |  |  | (360 | )
Net Income (Loss) | 93,401 |  |  | 141,305 |  |  | 45,097 |  |  | (186,260 | ) |  | 93,543 |
Less: Net (Loss) Income Attributable to Noncontrolling Interests | — |  |  | — |  |  | 142 |  |  | — |  |  | 142 |
Net Income (Loss) Attributable to Iron Mountain Incorporated | $ | 93,401 |  |  | $ | 141,305 |  |  | $ | 44,955 |  |  | $ | (186,260 | ) |  | $ | 93,401 |
Net Income (Loss) | $ | 93,401 |  |  | $ | 141,305 |  |  | $ | 45,097 |  |  | $ | (186,260 | ) |  | $ | 93,543 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Currency Translation Adjustments | 10,257 |  |  | — |  |  | (149,429 | ) |  | — |  |  | (139,172 | )
Change in fair value of interest rate swap agreements | 2,388 |  |  | — |  |  | — |  |  | — |  |  | 2,388 |
Equity in Other Comprehensive Income (Loss) of Subsidiaries | (146,018 | ) |  | (129,860 | ) |  | — |  |  | 275,878 |  |  | — |
Total Other Comprehensive Income (Loss) | (133,373 | ) |  | (129,860 | ) |  | (149,429 | ) |  | 275,878 |  |  | (136,784 | )
Comprehensive Income (Loss) | (39,972 | ) |  | 11,445 |  |  | (104,332 | ) |  | 89,618 |  |  | (43,241 | )
Comprehensive (Loss) Income Attributable to Noncontrolling Interests | — |  |  | — |  |  | (3,274 | ) |  | — |  |  | (3,274 | )
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | $ | (39,972 | ) |  | $ | 11,445 |  |  | $ | (101,058 | ) |  | $ | 89,618 |  |  | $ | (39,967 | )
Schedule of selected consolidated cash flow statements of Parent, Guarantors, Canada Company and Non-Guarantors | CONSOLIDATED STATEMENTS OF CASH FLOWS
| Six Months Ended June 30, 2017
| Parent |  | Guarantors |  | Canada Company |  | Non- Guarantors |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash Flows from Operating Activities—Continuing Operations | $ | (81,406 | ) |  | $ | 305,548 |  |  | $ | 27,976 |  |  | $ | 69,922 |  |  | $ | — |  |  | $ | 322,040 |
Cash Flows from Operating Activities—Discontinued Operations | — |  |  | (957 | ) |  | — |  |  | (1,406 | ) |  | — |  |  | (2,363 | )
Cash Flows from Operating Activities | (81,406 | ) |  | 304,591 |  |  | 27,976 |  |  | 68,516 |  |  | — |  |  | 319,677 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (124,559 | ) |  | (4,171 | ) |  | (36,477 | ) |  | — |  |  | (165,207 | )
Cash paid for acquisitions, net of cash acquired | — |  |  | (6,380 | ) |  | — |  |  | (31,843 | ) |  | — |  |  | (38,223 | )
Intercompany loans to subsidiaries | (51,119 | ) |  | (41,642 | ) |  | — |  |  | (474 | ) |  | 93,235 |  |  | — |
Investment in subsidiaries | (16,170 | ) |  | — |  |  | — |  |  | — |  |  | 16,170 |  |  | — |
Acquisitions of customer relationships and customer inducements | — |  |  | (26,924 | ) |  | (410 | ) |  | (1,176 | ) |  | — |  |  | (28,510 | )
Net proceeds from Divestments (see Note 10) | — |  |  | — |  |  | — |  |  | 2,423 |  |  | — |  |  | 2,423 |
Proceeds from sales of property and equipment and other, net (including real estate) | — |  |  | 12,933 |  |  | 2 |  |  | (4,388 | ) |  | — |  |  | 8,547 |
Cash Flows from Investing Activities—Continuing Operations | (67,289 | ) |  | (186,572 | ) |  | (4,579 | ) |  | (71,935 | ) |  | 109,405 |  |  | (220,970 | )
Cash Flows from Investing Activities—Discontinued Operations | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash Flows from Investing Activities | (67,289 | ) |  | (186,572 | ) |  | (4,579 | ) |  | (71,935 | ) |  | 109,405 |  |  | (220,970 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of revolving credit, term loan facilities and other debt | (262,579 | ) |  | (3,197,148 | ) |  | (51 | ) |  | (2,291,638 | ) |  | — |  |  | (5,751,416 | )
Proceeds from revolving credit, term loan facilities and other debt | 224,660 |  |  | 2,913,810 |  |  | — |  |  | 2,355,655 |  |  | — |  |  | 5,494,125 |
Net proceeds from sales of senior notes | 332,683 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 332,683 |
Debit balances (payments) under cash pools | — |  |  | 136,379 |  |  | — |  |  | 25,171 |  |  | (161,550 | ) |  | — |
Debt financing from (repayment to) and equity contribution from (distribution to) noncontrolling interests, net | — |  |  | — |  |  | — |  |  | 10,151 |  |  | — |  |  | 10,151 |
Intercompany loans from parent | — |  |  | 44,957 |  |  | (43,089 | ) |  | 91,367 |  |  | (93,235 | ) |  | — |
Equity contribution from parent | — |  |  | — |  |  | — |  |  | 16,170 |  |  | (16,170 | ) |  | — |
Parent cash dividends | (147,393 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (147,393 | )
Net proceeds (payments) associated with employee stock-based awards | 810 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 810 |
Payment of debt financing and stock issuance costs | (471 | ) |  | — |  |  | (73 | ) |  | — |  |  | — |  |  | (544 | )
Cash Flows from Financing Activities—Continuing Operations | 147,710 |  |  | (102,002 | ) |  | (43,213 | ) |  | 206,876 |  |  | (270,955 | ) |  | (61,584 | )
Cash Flows from Financing Activities—Discontinued Operations | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash Flows from Financing Activities | 147,710 |  |  | (102,002 | ) |  | (43,213 | ) |  | 206,876 |  |  | (270,955 | ) |  | (61,584 | )
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 2,706 |  |  | 14,706 |  |  | — |  |  | 17,412 |
(Decrease) Increase in cash and cash equivalents | (985 | ) |  | 16,017 |  |  | (17,110 | ) |  | 218,163 |  |  | (161,550 | ) |  | 54,535 |
Cash and cash equivalents, beginning of period | 2,405 |  |  | 23,380 |  |  | 17,110 |  |  | 193,589 |  |  | — |  |  | 236,484 |
Cash and cash equivalents, end of period | $ | 1,420 |  |  | $ | 39,397 |  |  | $ | — |  |  | $ | 411,752 |  |  | $ | (161,550 | ) |  | $ | 291,019 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Six Months Ended June 30, 2018
| Parent |  | Guarantors |  | Non- Guarantors |  | Eliminations |  | Consolidated
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash Flows from Operating Activities—Continuing Operations | $ | (117,979 | ) |  | $ | 409,167 |  |  | $ | 102,618 |  |  | $ | — |  |  | $ | 393,806 |
Cash Flows from Operating Activities—Discontinued Operations | — |  |  | (477 | ) |  | — |  |  | — |  |  | (477 | )
Cash Flows from Operating Activities | (117,979 | ) |  | 408,690 |  |  | 102,618 |  |  | — |  |  | 393,329 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (142,737 | ) |  | (74,864 | ) |  | — |  |  | (217,601 | )
Cash paid for acquisitions, net of cash acquired | — |  |  | (1,314,370 | ) |  | (352,499 | ) |  | — |  |  | (1,666,869 | )
Intercompany loans to subsidiaries | 370,423 |  |  | 19,092 |  |  | — |  |  | (389,515 | ) |  | — |
Investment in subsidiaries | — |  |  | — |  |  | — |  |  | — |  |  | — |
Acquisitions of customer relationships, customer inducements and data center lease-based intangibles | — |  |  | (24,922 | ) |  | (12,311 | ) |  | — |  |  | (37,233 | )
Proceeds from sales of property and equipment and other, net (including real estate) | — |  |  | — |  |  | 207 |  |  | — |  |  | 207 |
Cash Flows from Investing Activities—Continuing Operations | 370,423 |  |  | (1,462,937 | ) |  | (439,467 | ) |  | (389,515 | ) |  | (1,921,496 | )
Cash Flows from Investing Activities—Discontinued Operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash Flows from Investing Activities | 370,423 |  |  | (1,462,937 | ) |  | (439,467 | ) |  | (389,515 | ) |  | (1,921,496 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of revolving credit, term loan facilities and other debt | — |  |  | (3,657,315 | ) |  | (4,219,481 | ) |  | — |  |  | (7,876,796 | )
Proceeds from revolving credit, term loan facilities and other debt | — |  |  | 4,531,603 |  |  | 4,412,813 |  |  | — |  |  | 8,944,416 |
Debit (payments) balances under cash pools | — |  |  | (7,657 | ) |  | 2,850 |  |  | 4,807 |  |  | — |
Debt financing from (repayment to) and equity contribution from (distribution to) noncontrolling interests, net | — |  |  | — |  |  | (1,079 | ) |  | — |  |  | (1,079 | )
Intercompany loans from parent | — |  |  | (384,323 | ) |  | (5,192 | ) |  | 389,515 |  |  | — |
Parent cash dividends | (337,052 | ) |  | — |  |  | — |  |  | — |  |  | (337,052 | )
Net (payments) proceeds associated with employee stock-based awards | (2,259 | ) |  | — |  |  | — |  |  | — |  |  | (2,259 | )
Net proceeds associated with the Over-Allotment Option exercise | 76,192 |  |  | — |  |  | — |  |  | — |  |  | 76,192 |
Net proceeds associated with the At the Market (ATM) Program | 8,716 |  |  | — |  |  | — |  |  | — |  |  | 8,716 |
Payment of debt financing and stock issuance costs | (412 | ) |  | (12,322 | ) |  | (651 | ) |  | — |  |  | (13,385 | )
Cash Flows from Financing Activities—Continuing Operations | (254,815 | ) |  | 469,986 |  |  | 189,260 |  |  | 394,322 |  |  | 798,753 |
Cash Flows from Financing Activities—Discontinued Operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash Flows from Financing Activities | (254,815 | ) |  | 469,986 |  |  | 189,260 |  |  | 394,322 |  |  | 798,753 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | (8,093 | ) |  | — |  |  | (8,093 | )
Increase (Decrease) in cash and cash equivalents | (2,371 | ) |  | (584,261 | ) |  | (155,682 | ) |  | 4,807 |  |  | (737,507 | )
Cash and cash equivalents, beginning of period | 2,433 |  |  | 634,317 |  |  | 383,675 |  |  | (94,726 | ) |  | 925,699 |
Cash and cash equivalents, end of period | $ | 62 |  |  | $ | 50,056 |  |  | $ | 227,993 |  |  | $ | (89,919 | ) |  | $ | 188,192 |

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