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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows - Operating Activities    
Net (loss) income $ (8,469) $ 27,410
Adjustments to net (loss) income:    
Depreciation and amortization 38,743 38,973
Asset management fees to affiliates settled in shares 7,126 7,095
Amortization of deferred financing costs and other 1,388 1,568
Equity in earnings of equity method investments in real estate, net (860) (51)
Business interruption income (812) (12,198)
Amortization of stock-based compensation expense 427 353
Net loss on extinguishment of debt 136 188
Net gain on sale of real estate (Note 4) 0 (31,929)
Straight-line rent adjustments 0 2,597
Gain on hurricane-related property damage 0 (1,065)
Net changes in other operating assets and liabilities 4,897 1,494
Net decrease in operating lease right-of-use assets 3,256  
Distributions of earnings from equity method investments 2,907 2,911
Insurance proceeds for remediation work due to hurricane damage 1,760 3,210
Net increase in operating lease liabilities 960  
Business interruption insurance proceeds 812 7,487
(Decrease) increase in due to related parties and affiliates (645) 1,032
Receipt of key money and other deferred incentive payments 500 0
Funding of hurricane/fire-related remediation work (3) (10,201)
Net Cash Provided by Operating Activities 52,123 38,874
Cash Flows — Investing Activities    
Capital expenditures (22,766) (35,993)
Hurricane-related property insurance proceeds 6,839 11,246
Capital contributions to equity investments in real estate (3,429) (732)
Distributions from equity investments in excess of cumulative equity income 912 10,886
Repayments of loan receivable 109 183
Proceeds from the sale of real estate investments (Note 4) 0 135,301
Net Cash (Used in) Provided by Investing Activities (18,335) 120,891
Cash Flows — Financing Activities    
Scheduled payments and prepayments of mortgage principal (75,918) (147,950)
Proceeds from mortgage financing 69,688 75,250
Distributions paid (39,990) (39,477)
Net proceeds from issuance of shares 21,617 22,092
Repurchase of shares (13,821) (20,639)
Proceeds from WPC Credit Facility 5,000 10,000
Distributions to noncontrolling interests (4,856) (2,247)
Deferred financing costs (1,369) (1,679)
Other financing activities, net (266) (808)
Repayment of WPC Credit Facility 0 (37,000)
Net Cash Used in Financing Activities (39,915) (142,458)
Change in Cash and Cash Equivalents and Restricted Cash During the Period    
Net (decrease) increase in cash and cash equivalents and restricted cash (6,127) 17,307
Cash and cash equivalents and restricted cash, beginning of period 121,130 132,376
Cash and cash equivalents and restricted cash, end of period $ 115,003 $ 149,683