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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 42,604 $ 41,759
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 16,263 12,594
Stock based compensation 256  
Gain on sale of investments   (17)
Unrealized (gain) loss on investments, net (91) 1,947
Equity in (income) loss from unconsolidated joint ventures, net of distributions (3,114) 1,770
Deferred income tax expense 3,471 11,464
Cost of real estate sold 32,564 30,105
Expenditures for and acquisition of real estate to be sold (69,699) (28,288)
Accretion income and other (1,069) (614)
Loss on disposal of property and equipment 181 270
Gain on contributions to unconsolidated joint ventures (2,001) (3,290)
Gain on insurance for damage to property and equipment, net (4,186) (3,924)
Loss on extinguishment of debt 130  
Changes in operating assets and liabilities:    
Other assets 15,755 (6,186)
Deferred revenue 3,039 7,337
Other liabilities (3,845) 206
Net cash provided by operating activities 30,258 65,133
Cash flows from investing activities:    
Expenditures for operating property (156,478) (109,215)
Expenditures for property and equipment (3,384) (3,135)
Proceeds from the disposition of assets 17 34
Proceeds from insurance claims 4,186 3,924
Purchases of investments - debt securities (97,133) (127,958)
Maturities of investments - debt securities 99,000 73,000
Sales of investments - debt securities 12,980 36
Sales of investments - equity securities 207 325
Sales of restricted investments   1,173
Capital contributions to unconsolidated joint ventures (2,505) (9,213)
Capital distributions from unconsolidated joint ventures 3,203  
Payments for interest in unconsolidated joint venture   (495)
Maturities of assets held by special purpose entities 785 788
Net cash used in investing activities (139,122) (170,736)
Cash flows from financing activities:    
Capital contributions from non-controlling interest 3,613 3,188
Capital distributions to non-controlling interest (2,253) (958)
Repurchase of common shares (19,972)  
Dividends paid (17,666) (14,133)
Borrowings on debt 119,043 39,812
Principal payments for debt (19,535) (1,536)
Principal payments for finance leases (89) (75)
Debt issuance costs (1,876) (1,087)
Net cash provided by financing activities 61,265 25,211
Net decrease in cash, cash equivalents and restricted cash (47,599) (80,392)
Cash, cash equivalents and restricted cash at beginning of the year 74,400 110,119
Cash, cash equivalents and restricted cash at end of the year $ 26,801 $ 29,727