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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (128,000,000) $ (46,000,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 82,000,000 90,000,000
Amortization of deferred costs and other assets 9,000,000 11,000,000
Impairment loss 54,000,000 0
Gain on casualty (3,000,000) (4,000,000)
Gain on sales of real estate (32,000,000) (2,000,000)
Equity-based compensation expense 5,000,000 6,000,000
Changes in assets and liabilities:    
Accounts receivable 2,000,000 (7,000,000)
Other assets 0 4,000,000
Accounts payable and accrued expenses (9,000,000) 6,000,000
Other liabilities 0 3,000,000
Net cash provided by (used in) operating activities (20,000,000) 61,000,000
Cash flows from investing activities:    
Capital expenditures, primarily investments in existing real estate (14,000,000) (47,000,000)
Lender and other escrows (10,000,000) 0
Insurance proceeds related to real estate casualties 9,000,000 9,000,000
Proceeds from sales of real estate 117,000,000 24,000,000
Net cash provided by (used in) investing activities 102,000,000 (14,000,000)
Cash flows from financing activities:    
Proceeds from debt 110,000,000 0
Repayment of debt (70,000,000) (19,000,000)
Debt issuance costs (1,000,000) 0
Payment of insurance financing (6,000,000) (5,000,000)
Dividends on common stock (22,000,000) (23,000,000)
Purchase of common stock 0 (26,000,000)
Net cash provided by (used in) financing activities 11,000,000 (73,000,000)
Increase (decrease) in cash and cash equivalents 93,000,000 (26,000,000)
Cash and cash equivalents at the beginning of the period 101,000,000 68,000,000
Cash and cash equivalents at the end of the period $ 194,000,000 $ 42,000,000