XML 30 R8.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Operating activities:    
Net income (loss) $ 6,250 $ (1,514)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 8,806 8,450
Gain on sales of properties (7,829) (879)
Deferred income taxes 689 634
Amortization of debt issuance costs 211 224
Stock-based compensation expense 205 261
Gain on insurance recovery (126)  
Payment of employee withholding taxes on options exercised (87) (39)
Amortization of terminated swap agreement 31 162
Changes in assets and liabilities:    
Other assets (2,623) (1,950)
Accounts payable and accrued liabilities (355) (832)
Deferred revenue 1,298 (1)
Other liabilities 213 480
Net cash provided by operating activities 6,683 4,996
Investing activities:    
Additions to real estate assets (21,805) (23,667)
Proceeds from sales of properties, net of expenses 9,475 998
Short-term investments, net 7,989 (11,000)
Proceeds from sales of properties (deposited into) returned from escrow, net (2,217) 91
Deferred leasing costs and other (462) (485)
Net cash used in investing activities (7,020) (34,063)
Financing activities:    
Principal payments on mortgage loans (2,896) (14,501)
Dividends paid to stockholders (2,279) (2,000)
Proceeds from mortgage and construction loans 1,265 26,806
Proceeds from exercise of stock options 98 1,234
Payment of debt issuance costs (33) (568)
Net cash (used in) provided by financing activities (3,845) 10,971
Net decrease in cash and cash equivalents (4,182) (18,096)
Cash and cash equivalents at beginning of period 8,592 30,068
Cash and cash equivalents at end of period $ 4,410 $ 11,972