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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income (loss) $ (201,994) $ (189,070) $ (238,340)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Loss (gain) on debt modification and extinguishment, net 20,762 2,702 1,357
Depreciation and amortization, net 367,511 350,408 353,890
Asset impairment 8,557 40,572 29,618
Equity in (earnings) loss of unconsolidated ventures 0 3,996 10,782
Distributions from unconsolidated ventures from cumulative share of net earnings 0 430 561
Amortization of entrance fees 0 (732) (2,307)
Proceeds from deferred entrance fee revenue 0 477 4,222
Deferred income tax (benefit) provision 3,617 7,590 (1,324)
Operating lease expense adjustment (48,793) (45,739) (34,896)
Change in fair value of derivatives (434) (1,144) (7,659)
Loss (gain) on sale of assets, net (923) (37,737) (74,445)
Non-cash stock-based compensation expense 14,184 11,985 14,466
Property and casualty insurance income (8,532) (18,920) (11,379)
Other non-operating (income) loss 0 (2,542) 0
Changes in operating assets and liabilities:      
Accounts receivable, net (3,498) 7,380 (4,624)
Prepaid expenses and other assets, net (21,560) 21,629 (21,240)
Trade accounts payable and accrued expenses 15,697 2,448 (27,185)
Refundable fees and deferred revenue 5,221 (654) (1,934)
Operating lease assets and liabilities for lessor capital expenditure reimbursements 16,362 9,844 13,718
Net cash provided by (used in) operating activities 166,177 162,923 3,281
Cash Flows from Investing Activities      
Purchase of marketable securities (49,054) (174,476) (263,669)
Sale and maturities of marketable securities 60,000 197,100 398,752
Capital expenditures, net of related payables (201,250) (233,205) (196,924)
Acquisition of assets, net of cash acquired (108,411) (574) (6,004)
Investment in unconsolidated ventures 0 (7,589) (218)
Distributions received from unconsolidated ventures 0 0 966
Proceeds from sale of assets, net 7,017 83,526 4,653
Property and casualty insurance proceeds 8,548 24,704 0
Change in lease acquisition deposits, net (5,000) 0 0
Purchase of interest rate cap instruments (10,149) (12,454) (1,632)
Proceeds from interest rate cap instruments 20,563 9,890 788
Other (330) (286) (4,141)
Net cash provided by (used in) investing activities (278,066) (113,364) (67,429)
Cash Flows from Financing Activities      
Proceeds from debt 765,652 205,549 254,259
Repayment of debt and financing lease obligations (594,997) (367,242) (281,185)
Proceeds from issuance of tangible equity units 0 0 139,438
Payment of financing costs, net of related payables (25,157) (10,831) (7,077)
Payments of employee taxes for withheld shares (3,437) (1,915) (4,293)
Other 0 0 (760)
Net cash provided by (used in) financing activities 142,061 (174,439) 100,382
Net increase (decrease) in cash, cash equivalents, and restricted cash 30,172 (124,880) 36,234
Cash, cash equivalents, and restricted cash at beginning of period 349,668 474,548 438,314
Cash, cash equivalents, and restricted cash at end of period $ 379,840 $ 349,668 $ 474,548