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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss $ (54,836) $ (6,600)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 36,696 42,102
Impairment and allowance for loan losses 4,574 6,072
Amortization of deferred financing costs 3,038 1,727
Amortization of debt discounts 3,429 3,634
Share-based compensation expense 1,235 2,424
Loss on debt extinguishment, net 21,267 363
Gain on disposition of real estate assets (1,519) (3,254)
Non-cash revenue (1,838) (1,437)
Bad debt expense and other 29 175
Changes in operating assets and liabilities:    
Deferred costs and other assets, net 1,930 (2,539)
Accounts payable, accrued expenses and other liabilities 14,904 4,137
Net cash provided by operating activities 28,909 46,804
Investing activities    
Acquisitions of real estate 0 (15,328)
Capitalized real estate expenditures (3,567) (1,937)
Collections of principal on loans receivable 23,402 3,003
Proceeds from dispositions of real estate and other assets 17,175 39,118
Net cash provided by investing activities 37,010 24,856
Financing activities    
Borrowings under mortgages and notes payable 0 92,216
Repayments under mortgages and notes payable (17,971) (23,248)
Restricted cash surrendered in loan foreclosure (21,227) (363)
Deferred financing costs 0 (1,415)
Repurchase of common shares for tax withholdings related to net shares settlements (36) 0
Preferred share offering costs (25) 0
Dividends paid on common shares (71,409) 0
Dividends paid on preferred shares (7,958) (1,325)
Contributions from parent company 0 91,662
Distributions to parent company 0 (198,038)
Net cash used in financing activities (118,626) (40,511)
Net (decrease) increase in cash, cash equivalents and restricted cash (52,707) 31,149
Cash, cash equivalents and restricted cash, beginning of period 205,100 66,510
Cash, cash equivalents and restricted cash, end of period 152,393 97,659
Interest paid 49,943 49,069
Taxes paid 139 202
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Investment distribution from parent 0 80,429
Investment distribution to parent 0 2,144
Financing provided in connection with the disposition of assets 0 2,888
Preferred equity issuance 0 155,000
Relief of debt through foreclosure of real estate properties 160,785 0
Net real estate and other assets surrendered to lender 159,735 0
Accrued interest capitalized to principal 3,364 0
Distributions declared and unpaid $ 14,243 $ 0