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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 152,222$ 114,307
Adjustments to reconcile net income to cash provided by operating activities:  
Depreciation and amortization171,050179,260
Amortization of deferred financing costs and debt discounts as interest4,6235,629
Straight line rental income(3,684) 
Security deposits applied to payment shortfalls(27,814)(19,749)
FF&E reserve income and deposits(39,592)(44,451)
Loss on extinguishment of debt 6,720
Loss on asset impairment7,26316,384
Equity in (earnings) losses of an investee(111)17
Other non-cash (income) expense, net134(1,943)
Changes in assets and liabilities:  
Increase in other assets(3,546)(1,585)
Decrease in accounts payable and other liabilities(20,413)(23,730)
Increase in due to related persons8,5968,461
Cash provided by operating activities248,728239,320
Cash flows from investing activities:  
Real estate acquisitions and improvements(45,614)(7,043)
FF&E reserve fundings(11,425)(55,004)
Net proceeds from sale of real estate6,905 
Investment in TravelCenters of America common shares(5,690) 
Investment in Affiliates Insurance Company (76)
Increase in security deposits37,000 
Cash used in investing activities(18,824)(62,123)
Cash flows from financing activities:  
Repayment of mortgage note(3,383) 
Repurchase of convertible senior notes (185,626)
Repayment of senior notes (50,000)
Borrowings under revolving credit facility200,000228,000
Repayments of revolving credit facility(229,000)(105,000)
Deferred financing costs(6,852)(1,125)
Distributions to preferred shareholders(22,410)(22,410)
Distributions to common shareholders(166,654)(166,573)
Cash used in financing activities(228,299)(302,734)
Increase (decrease) in cash and cash equivalents1,605(125,537)
Cash and cash equivalents at beginning of period4,882130,399
Cash and cash equivalents at end of period6,4874,862
Supplemental cash flow information:  
Cash paid for interest117,958126,619
Cash paid for income taxes1,3541,737
Non-cash investing activities:  
Property managers' deposits in FF&E reserve42,49745,309
Property managers' purchases with FF&E reserve(92,795)(58,615)
Non-cash financing activities:  
Issuance of common shares$ 1,366$ 1,018