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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income: $ 26,981 $ 17,884
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 7,978 6,092
Stock based compensation   45
(Gain) loss on sale of investments (17) 48
Unrealized loss on investments, net 2,010 4,903
Equity in loss from unconsolidated affiliates 1,070 206
Deferred income tax expense 4,464 5,487
Cost of real estate sold 22,607 16,515
Expenditures for and acquisition of real estate to be sold (14,673) (17,395)
Accretion income and other (407) (492)
Loss (gain) on disposal of property and equipment 48 (7)
Gain on contribution to equity method investment (3,290) (19,616)
Gain on insurance for damage to property and equipment, net (1,384)  
Changes in operating assets and liabilities:    
Other assets (6,656) (2,104)
Other liabilities 8,465 584
Income taxes receivable   356
Net cash provided by operating activities 47,196 12,506
Cash flows from investing activities:    
Expenditures for operating property (67,742) (62,574)
Expenditures for property and equipment (1,666) (3,244)
Proceeds from the disposition of assets 26 7
Proceeds from insurance claims 1,384  
Purchases of investments - debt securities (107,963) (56,915)
Purchases of restricted investments   (17)
Maturities of investments - debt securities 46,000 7,000
Sales of investments - debt securities 36  
Sales of investments - equity securities 298 2,502
Sales of restricted investments 1,173 1,210
Maturities of assets held by special purpose entities 416 415
Net cash used in investing activities (128,038) (111,616)
Cash flows from financing activities:    
Capital contribution from non-controlling interests 3,188 5,139
Capital distribution to non-controlling interests (653)  
Capital contribution to unconsolidated affiliates (9,708) (3,329)
Capital distribution from unconsolidated affiliates 50  
Repurchase of common shares   (8,803)
Dividends paid (9,422) 0
Borrowings on debt 26,380 29,914
Principal payments for debt (1,361) (1,063)
Principal payments under finance lease obligation (46) (25)
Debt issuance costs (931) (1,479)
Net cash provided by financing activities 7,497 20,354
Net decrease in cash, cash equivalents and restricted cash (73,345) (78,756)
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 $ 36,774 $ 109,921