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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (37,827) $ 124,432
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 28,940 27,811
Amortization of deferred financing costs 946 1,121
Lease expense adjustment 7 (256)
Loss on disposition of assets, net 0 436
Write-off of other assets 535 0
Unrealized gain on interest rate cap, net (206) 0
Loss (gain) on extinguishment of debt 641 (168,292)
Provision for bad debt 908 747
Non-cash stock-based compensation expense 3,479 1,269
Changes in operating assets and liabilities:    
Accounts receivable, net (1,760) 763
Prepaid expenses and other 6,755 369
Other assets, net (115) (95)
Accounts payable and accrued expense 566 5,199
Federal and state income taxes payable (423) 211
Deferred resident revenue 414 (502)
Other current liabilities 43 (375)
Net cash provided by (used in) operating activities 2,903 (7,162)
Cash flows from investing activities:    
Acquisition of new communities (12,342) 0
Capital expenditures (18,317) (7,096)
Net cash used in investing activities (30,659) (7,096)
Cash flows from financing activities:    
Proceeds from notes payable 80,000 17,168
Repayments of notes payable (98,535) (10,513)
Cash payments for finance leases and financing obligations (81) (74)
Purchase of common stock (263) 0
Dividends paid to Series A preferred stockholders (2,987) 0
Purchase of interest rate cap (258) 0
Deferred financing costs paid (2,180) 0
Net cash (used in) provided by financing activities (24,304) 6,581
Decrease in cash and cash equivalents and restricted cash (52,060) (7,677)
Cash, cash equivalents, and restricted cash at beginning of period 92,876 30,504
Cash, cash equivalents, and restricted cash at end of period 40,816 22,827
Cash paid during the period for:    
Interest 21,536 23,221
Income taxes $ 672 $ 309