XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Cash Flows [Abstract]    
Net income $ 5,715 $ 11,618
Adjustments to reconcile net income to net cash provided by operating activities    
Depletion 4,717 4,922
Equity-based compensation 523 605
Depreciation and amortization 140 110
Deferred taxes and other 45 65
Cost of land sold 0 230
Gain on sale of timberland - Funds 0 (12,503)
Gain on disposal of property and equipment (4) (1)
Cash flows from changes in operating accounts    
Accounts receivable, net 1,943 1,151
Prepaid expenses and other assets (203) 3,066
Real estate project expenditures (278) (1,825)
Accounts payable and accrued liabilities (1,979) (1,401)
Deferred revenue 245 37
Environmental remediation liability (219) (3,329)
Other current and long-term liabilities 27 (21)
Net cash provided by operating activities 10,672 2,724
Cash flows from investing activities    
Reforestation and roads (892) (335)
Capital expenditures (274) (23)
Proceeds from sale of property and equipment 4 11
Acquisitions of timberland - Partnership (4,626) (4,951)
Acquisitions of timberland - Funds (108,379) 0
Proceeds from sale of timberland - Funds 0 26,444
Net cash provided by (used in) investing activities (114,167) 21,146
Cash flows from financing activities    
Line of credit borrowings 19,800 10,000
Line of credit repayments (1,500) (7,000)
Repayment of long-term debt (31) (30)
Debt issuance costs 0 (7)
Proceeds from unit issuances - distribution reinvestment plan 59 0
Unit repurchases (292) 0
Payroll taxes paid on unit net settlements (102) (94)
Cash distributions to unitholders (3,052) (3,058)
Cash distributions - ORM Timber Funds, net of distributions to Partnership (3,481) (23,083)
Capital call - ORM Timber Funds, net of Partnership contribution 92,280 825
Net cash provided by (used in) financing activities 103,681 (22,447)
Net increase in cash and restricted cash 186 1,423
Cash and restricted cash at beginning of period 5,284 2,937
Cash and restricted cash at end of period $ 5,470 $ 4,360