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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 37,626 $ 43,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 22,477 16,789
Stock based compensation 555 367
Equity in income from unconsolidated joint ventures, net of distributions (3,070) (7,224)
Deferred income tax 1,026 7,400
Cost of real estate sold 30,203 48,880
Expenditures for and acquisition of real estate to be sold (35,695) (48,207)
Accretion income and other (399) (1,622)
Loss on disposal of property and equipment 549 53
Gain on contributions to unconsolidated joint ventures (11) (557)
Gain on insurance for damage to property and equipment, net (178)  
Loss on extinguishment of debt   133
Changes in operating assets and liabilities:    
Other assets (3,797) (19,194)
Deferred revenue 1,458 3,895
Accounts payable and other liabilities (321) 8,900
Net cash provided by operating activities 50,423 52,929
Cash flows from investing activities:    
Expenditures for operating property (24,490) (79,694)
Expenditures for property and equipment (3,711) (2,588)
Proceeds from the disposition of assets 84 12
Proceeds from insurance claims 178  
Purchases of investments - debt securities   (27,540)
Maturities of investments - debt securities   41,000
Capital contributions to unconsolidated joint ventures (1,156) (1,893)
Capital distributions from unconsolidated joint ventures 150 150
Maturities of assets held by special purpose entities 414 415
Net cash used in investing activities (28,531) (70,138)
Cash flows from financing activities:    
Capital contributions from non-controlling interest   739
Capital distributions to non-controlling interest (389) (2,094)
Dividends paid (14,014) (11,667)
Borrowings on debt 92 109,330
Principal payments for debt (6,956) (47,936)
Principal payments for finance leases (85) (69)
Debt issuance costs (16) (916)
Net cash (used in) provided by financing activities (21,368) 47,387
Net increase in cash, cash equivalents and restricted cash 524 30,178
Cash, cash equivalents and restricted cash at beginning of the year 90,770 45,303
Cash, cash equivalents and restricted cash at end of the year $ 91,294 $ 75,481