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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 26,101 $ 21,102
Adjustments to reconcile net income to net cash used in operating activities:    
Provisions for credit losses and impairment 0 388
Net equity in income from investments in partnerships (9,619) (2,382)
Net gains on bonds (24,264) 0
Net gains on real estate and other investments 0 (63)
Gain on disposal of discontinued operations 0 (20,420)
Net losses (gains) on derivatives 4,791 (2,856)
Net losses on extinguishment of liabilities 30 0
Advances on, originations and purchases of loans held for sale 0 (9,000)
Distributions received from investments in partnerships 7,417 3,606
Depreciation and amortization (627) (642)
Foreign currency gains (84) (35)
Stock-based compensation expense 165 1,128
Other, net 695 12
Net cash provided by (used in) operating activities 4,605 (9,162)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Principal payments and sales proceeds received on bonds and loans held for investment 24,197 6,885
Advances on and originations of loans held for investment (11,279) 0
Investments in partnerships and real estate (95,941) (26,045)
Proceeds from the sale of real estate and other investments 0 63
Cash and restricted cash derecognized in the Disposition 0 (23,009)
Restricted cash related to deconsolidated guaranteed Low-Income Housing Tax Credit ("LIHTC") funds 0 (23,487)
Capital distributions received from investments in partnerships 61,357 17,866
Net cash used in investing activities (21,666) (47,727)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowing activity 0 12,189
Repayment of borrowings (3,724) (17,244)
Repurchase of common shares 0 (3,341)
Options tendered for payment of withholding taxes 0 (315)
Issuance of common shares 0 8,375
Net cash used in financing activities (3,724) (336)
Net decrease in cash, cash equivalents and restricted cash (20,785) (57,225)
Cash, cash equivalents and restricted cash at beginning of period 33,878 100,186
Cash, cash equivalents and restricted cash at end of period 13,093 42,961
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 3,147 3,672
Income taxes paid 16 281
Non-cash investing and financing activities:    
Unrealized (losses) gains included in other comprehensive income (24,283) 13,207
Debt and liabilities extinguished through sales and collections on bonds 37,606 419
Decrease in bonds and common shareholders' equity due to change in accounting principle 267 0
Increase in loans held for investment and decrease in investment in partnerships due to secured lending $ 1,873 0
Increase in common shareholders' equity and decrease in other liabilities due to change in accounting principle   9,206
Increase in loans from the Disposition   57,000
Increase in investments in debt securities from the Disposition   17,986
Increase in other assets from the Disposition   2,142
Increase in deferred revenue from the Disposition   (13,000)
Increase in accumulated other comprehensive income from the Disposition   (9,415)
Increase in loans held for investment, interest receivable and other liabilities and decrease in investment in partnerships   6,138
Increase in common shareholders' equity and decrease in other liabilities due to stock options exercised   784
Net change in assets, liabilities and equity due to deconsolidation of guaranteed LIHTC funds:    
Net decrease in investment in partnerships   (98,760)
Decrease in other assets   (5,174)
Decrease in debt   6,712
Decrease in unfunded equity commitments to lower tier property partnerships   8,003
Decrease in other liabilities   35,850
Decrease in noncontrolling interests   $ 83,909