XML 64 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net Income $ 177,379,000 $ 120,158,000 $ 81,819,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on disposition of assets (11,085,000) (9,376,000) (9,338,000)
Unrealized foreign currency translation (gain) / loss (4,557,000) 8,234,000 (6,146,000)
Remeasurement of marketable securities (34,240,000) 3,639,000 0
Contingent liability remeasurement (gain) / loss 1,503,000 (2,336,000) (3,035,000)
Asset impairment charges 0 0 742,000
Share-based compensation 17,482,000 15,066,000 12,695,000
Depreciation and amortization 313,966,000 274,432,000 256,193,000
Deferred tax (benefit) expense 222,000 507,000 582,000
Amortization of below market lease (7,442,000) (7,399,000) (7,402,000)
Amortization of debt premium (4,962,000) (6,353,000) (8,205,000)
Amortization of deferred financing costs 2,988,000 3,233,000 2,910,000
Amortization of ground lease intangibles 752,000 1,638,000 1,914,000
Loss on extinguishment of debt 16,505,000 1,190,000 4,676,000
Income from nonconsolidated affiliates (1,374,000) (790,000) 0
Distributions from nonconsolidated affiliates 3,049,000 0 0
Change in notes receivable from financed sales of inventory homes, net of repayments 2,988,000 (2,299,000) (26,193,000)
Change in inventory, other assets and other receivables, net (44,322,000) (39,514,000) (33,031,000)
Change in other liabilities 48,326,000 4,098,000 (9,034,000)
Net Cash Provided By Operating Activities 476,734,000 363,114,000 257,983,000
Investing Activities      
Investment in properties (569,261,000) (389,399,000) (288,537,000)
Acquisitions of properties, net of cash acquired (472,681,000) (320,268,000) (120,377,000)
Proceeds from dispositions of assets and depreciated homes, net 61,337,000 55,855,000 8,575,000
Issuance of notes and other receivables (18,122,000) (216,000) (3,918,000)
Repayments of notes and other receivables 4,542,000 4,312,000 2,615,000
Investments in nonconsolidated affiliates (60,742,000) (84,997,000) 0
Distributions from nonconsolidated affiliates 44,470,000 970,000 0
Net Cash Used For Investing Activities (1,010,457,000) (733,743,000) (401,642,000)
Financing Activities      
Issuance of common stock, OP units, and preferred OP units, net 440,782,000 623,540,000 487,677,000
Borrowings on lines of credit 3,881,543,000 1,542,677,000 661,000,000
Payments on lines of credit (3,883,950,000) (1,456,486,000) (719,536,000)
Proceeds from issuance of other debt 923,721,000 250,000,000 185,153,000
Payments on other debt (552,868,000) (298,754,000) (124,427,000)
Prepayment penalty on debt (18,838,000) (2,024,000) (6,019,000)
Distributions to stockholders, OP unit holders, and preferred OP unit holders (276,697,000) (242,813,000) (224,483,000)
Payments for deferred financing costs (6,756,000) (2,130,000) (3,650,000)
Net Cash Provided By Financing Activities 505,880,000 409,905,000 141,557,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash 411,000 (523,000) 298,000
Net change in cash, cash equivalents and restricted cash (27,432,000) 38,753,000 (1,804,000)
Cash, cash equivalents and restricted cash, beginning of period 62,262,000 23,509,000 25,313,000
Cash, cash equivalents and restricted cash, end of period 34,830,000 62,262,000 23,509,000
Supplemental Information      
Cash paid for interest (net of capitalized interest of $7,943, $4,328 and $2,755 respectively) 134,990,000 126,153,000 124,046,000
Cash paid for interest on mandatorily redeemable debt 4,698,000 2,551,000 3,114,000
Cash paid (refunds) for income taxes 948,000 461,000 (194,000)
Noncash investing and financing activities      
Reduction in secured borrowing balance 107,731,000 21,451,000 23,449,000
Change in distributions declared and outstanding 8,452,000 7,889,000 3,267,000
Conversion of common and preferred OP units 11,310,000 1,515,000 3,556,000
Conversion of Series A-4 preferred stock 31,739,000 675,000 4,720,000
Capital lease 0 0 4,114,000
Noncash investing and financing activities at the date of acquisition      
Acquisitions - Common stock and OP units issued 313,391,000 0 28,410,000
Acquisitions - Equity Interests - NG Sun LLC (see Note 8) 0 21,976,000 0
Acquisitions - Debt 61,900,000 3,120,000 4,592,000
Acquisitions - Escrow 392,000 0 0
Series B-3 Preferred OP Units      
Financing Activities      
Redemption of Series B-3 preferred OP units (2,675,000) (4,105,000) (4,460,000)
Series A-4 Preferred Stock and OP Units      
Financing Activities      
Redemption of Series B-3 preferred OP units 0 0 (85,000,000)
Distributions to stockholders, OP unit holders, and preferred OP unit holders 0 0 (24,698,000)
Series A Preferred Stock      
Financing Activities      
Proceeds received from return of prepaid deferred financing costs 1,618,000 0 0
Noncash investing and financing activities at the date of acquisition      
Acquisitions - Preferred Equity - Sun NG RV Resorts LLC (see Note 8) 0 35,277,000 0
Series D Preferred Stock      
Noncash investing and financing activities at the date of acquisition      
Acquisitions - Series D preferred interest $ 51,930,000 $ 0 $ 0