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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 16,668 $ 13,102
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 12,130 11,182
Stock based compensation 310 231
Equity in income from unconsolidated joint ventures (10,159) (7,360)
Distribution of earnings from unconsolidated joint ventures 7,074 4,148
Deferred income tax (264) 719
Cost of real estate sold 17,591 14,829
Expenditures for and acquisition of real estate to be sold (27,177) (17,180)
Accretion income and other (574) (456)
Amortization of debt issuance costs 232 250
Loss on disposal of property and equipment 46 528
Gain on contributions to unconsolidated joint ventures   (14)
Gain on insurance for damage to property and equipment, net   (178)
Loss on extinguishment of debt 47  
Changes in operating assets and liabilities:    
Other assets 3,832 2,112
Deferred revenue 1,667 1,866
Accounts payable and other liabilities 7,593 3,829
Net cash provided by operating activities 29,016 27,608
Cash flows from investing activities:    
Expenditures for operating property (4,402) (11,890)
Expenditures for property and equipment (1,168) (2,384)
Proceeds from the disposition of assets 59 74
Proceeds from insurance claims   178
Capital contributions to unconsolidated joint ventures (1,479) (1,156)
Capital distributions from unconsolidated joint ventures   75
Maturities of assets held by special purpose entities 416 414
Net cash used in investing activities (6,574) (14,689)
Cash flows from financing activities:    
Capital distributions to non-controlling interest (299) (239)
Repurchase of common stock (5,685)  
Dividends paid (8,157) (7,001)
Borrowings on debt 27,832 91
Principal payments for debt (30,378) (2,269)
Principal payments for finance leases (33) (43)
Debt issuance costs (384)  
Net cash used in financing activities (17,104) (9,461)
Net increase in cash, cash equivalents and restricted cash 5,338 3,458
Cash, cash equivalents and restricted cash at beginning of the year 96,316 90,770
Cash, cash equivalents and restricted cash at end of the year $ 101,654 $ 94,228