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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss): $ 2,957 $ (1,335)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 3,853 3,073
Stock based compensation   27
(Gain) loss on sale of investments (17) 48
Unrealized loss on investments, net 1,049 4,761
Equity in loss from unconsolidated affiliates 468 83
Deferred income tax expense 268 935
Cost of real estate sold 9,839 1,593
Expenditures for and acquisition of real estate to be sold (12,038) (6,323)
Accretion income and other (188) (268)
Gain on land contribution to equity method investment (120) (4,277)
Gain on insurance for damage to property and equipment, net (866)  
Changes in operating assets and liabilities:    
Other assets 816 4,390
Other liabilities 3,807 1,408
Income taxes receivable   (998)
Net cash provided by operating activities 9,828 3,117
Cash flows from investing activities:    
Expenditures for operating property (24,319) (32,974)
Expenditures for property and equipment (803) (1,476)
Proceeds from insurance claims 866  
Purchases of investments - debt securities (84,971) (49,927)
Purchases of restricted investments   (12)
Maturities of investments - debt securities 39,000  
Sales of investments - debt securities 36  
Sales of investments - equity securities 9 2,502
Sales of restricted investments 1,173 1,208
Maturities of assets held by special purpose entities 416 415
Net cash used in investing activities (68,593) (80,264)
Cash flows from financing activities:    
Capital contribution from non-controlling interests 1,745  
Capital distribution to non-controlling interests (319)  
Capital contribution to unconsolidated affiliates (2,500) (600)
Repurchase of common shares   (6,807)
Dividends paid (4,711)  
Borrowings on debt 11,343 6,545
Principal payments for debt (449) (272)
Principal payments under finance lease obligation (21) (11)
Debt issuance costs (540) (193)
Net cash provided by (used in) financing activities 4,548 (1,338)
Net decrease in cash, cash equivalents and restricted cash (54,217) (78,485)
Cash, cash equivalents and restricted cash at beginning of the year 110,119 188,677
Cash, cash equivalents and restricted cash at end of the year $ 55,902 $ 110,192