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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (134,307) $ (82,878) $ 292,414
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Depreciation and amortization 270,147 289,025 286,235
Net amortization of debt premiums, discounts and issuance costs 8,022 6,032 6,221
Straight line rental income (6,069) (4,508) (10,227)
Amortization of acquired real estate leases (7,405) (6,791) (5,787)
Loss on early extinguishment of debt 51 44 22
Gain on lease termination (22,896) 0 0
Impairment of assets 106,972 115,201 66,346
Gain on sale of properties (6,487) (39,696) (261,916)
Gains and losses on equity securities, net (34,106) 41,898 20,724
Other non-cash adjustments, net (2,203) (3,771) (3,772)
Equity in earnings of an investee 0 (400) (516)
Distribution of earnings from Affiliates Insurance Company 0 2,574 0
Change in assets and liabilities:      
Other assets (33,867) 1,794 (3,586)
Accrued interest (305) (2,105) 8,195
Other liabilities 20,997 (50,574) (1,513)
Net cash provided by operating activities 158,544 265,845 392,840
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate acquisitions and deposits (2,526) (50,636) (129,494)
Real estate improvements (185,585) (222,417) (103,804)
Proceeds from sale of properties, net 147,388 254,241 332,389
Proceeds from sale of RMR Inc. common shares, net 0 98,557 0
Distributions in excess of earnings from Affiliates Insurance Company 287 6,426 0
Net cash (used in) provided by investing activities (40,436) 86,171 99,091
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior unsecured notes, net 985,000 0 491,560
Proceeds from borrowings on revolving credit facility 430,500 994,500 727,000
Repayments of borrowings on revolving credit facility (968,000) (596,000) (1,184,000)
Repayment of senior unsecured notes (200,000) (400,000) 0
Repayment of term loan (250,000) (100,000) 0
Repayment of other debt (5,941) (46,345) (107,116)
Loss on early extinguishment of debt settled in cash (376) 0 (150)
Payment of debt issuance costs (5,378) (417) (4,296)
Repurchase of common shares (171) (299) (411)
Distributions to noncontrolling interest (22,292) (21,583) (21,022)
Distributions to shareholders (42,825) (199,719) (370,746)
Net cash used in financing activities (79,483) (369,863) (469,181)
Increase (decrease) in cash and cash equivalents and restricted cash 38,625 (17,847) 22,750
Cash and cash equivalents and restricted cash at end of period 90,849 52,224 70,071
Cash and cash equivalents and restricted cash at beginning of period $ 52,224 $ 70,071 $ 47,321