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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
8 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Apr. 30, 2018
Apr. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income (loss) $ (5,320) $ 84,822 $ 127,629 $ 30,525
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 51,394 75,408 83,276 46,135
Depreciation and amortization from discontinued operations 0 0 8,526 10,477
(Gain) loss on sale of real estate, land, other investments and discontinued operations (10,277) (97,624) (183,687) (74,847)
(Gain) loss on extinguishment of debt and discontinued operations 482 2,360 6,839 3,848
(Gain) loss on litigation settlement 0 (1,349) 0 0
Share-based compensation expense 845 1,905 1,587 6
Impairment of real estate investments 1,221 0 18,065 57,028
Other, net 629 1,096 1,457 3,660
Changes in other assets and liabilities:        
Other assets (1,145) 1,076 (646) (214)
Accounts payable and accrued expenses 2,205 1,930 (7,851) 2,434
Net cash provided (used) by operating activities 40,034 69,624 55,195 79,052
CASH FLOWS FROM INVESTING ACTIVITIES        
Issuance of loans receivable (918) (6,279) (15,480) 0
Purchase of marketable securities 0 (6,942) 0 0
Proceeds from sale of discontinued operations 0 0 426,131 237,135
Proceeds from sale of real estate and other investments 62,695 199,282 64,639 47,354
Payments for acquisitions of real estate assets (977) (158,466) (374,081) 0
Payments for improvements of real estate assets 0 0 (2,655) (18,274)
Payments for improvements of real estate assets (11,518) (20,954) (17,980) (41,083)
Other investing activities 1,889 366 (462) (972)
Net cash provided (used) by investing activities 51,171 7,007 80,112 224,160
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from mortgages payable 0 59,900 0 84,150
Principal payments on mortgages payable (67,016) (177,743) (205,159) (298,984)
Proceeds from revolving lines of credit 53,017 245,397 370,350 246,000
Principal payments on revolving lines of credit (119,517) (252,818) (303,400) (206,450)
Proceeds from notes payable and other debt 74,352 124,878 72,714 19,341
Principal payments on notes payable and other debt 0 0 (21,689) (49,080)
Payoff of financing liability 0 0 (7,900) 0
Proceeds from sale of common shares, net of issuance costs 0 22,019 0 0
Additions to notes receivable from noncontrolling partner – consolidated real estate entities 0 0 0 (9,211)
Proceeds from noncontrolling partner – consolidated real estate entities 0 0 0 9,749
Payments for acquisition of noncontrolling interests – consolidated real estate entities 0 (1,260) 0 (4,938)
Proceeds from sale of preferred shares 0 0 99,467 0
Repurchase of common shares (2,172) (18,023) (9,935) (4,501)
Repurchase of preferred shares 0 0 (115,017) (28,752)
Repurchase of partnership units (498) (8,147) (8,775) (966)
Distributions paid to common shareholders (16,724) (32,891) (33,689) (55,907)
Distributions paid to preferred shareholders (5,116) (6,821) (8,763) (10,744)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership (1,959) (3,630) (4,096) (7,453)
Distributions paid to noncontrolling interests – consolidated real estate entities (2,432) (220) (99) (174)
Distributions paid to preferred unitholders 0 (377) 0 0
Other financing activities 0 (34) 0 0
Net cash provided (used) by financing activities (88,065) (49,770) (175,991) (317,920)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 3,140 26,861 (40,684) (14,708)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR 16,116 19,256 56,800 71,508
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR 19,256 46,117 16,116 56,800
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES        
Accrued capital expenditures (329) 1,273 (3,415) (1,851)
Distributions declared but not paid 0 9,210 0 0
Conversion to equity of notes receivable from noncontrolling interests - consolidated real estate entities 670 0 0 9,846
Construction debt reclassified to mortgages payable 0 0 23,300 10,549
Increase in mortgage notes receivable 0 0 10,329 0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION        
Cash paid for interest, net of amounts capitalized of $0, $0, $0 and $431, respectively 24,135 28,679 35,758 34,432
Series D Preferred Units        
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES        
Property acquired through issuance of Series D preferred units $ 0 $ 16,560 $ 0 $ 0