XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net earnings $ 15 $ 792
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization expense 2,362 2,259
Net (gain) loss on disposition of assets (39) 24
Net (gain) loss on derivatives and convertible debt 237 (447)
Equity in earnings of joint venture (513) (229)
Amortization of deferred financing costs 373 353
Impairment recovery, net   (93)
Stock-based compensation expense 336 402
Provision for deferred taxes 180 122
Changes in operating assets and liabilities:    
Increase in assets (838) (31)
Increase (decrease) in liabilities 959 (217)
Net cash provided by operating activities 3,072 2,935
Cash flows from investing activities:    
Additions to hotel properties (791) (661)
Distributions in excess of cumulative earnings from joint venture 200 360
Hotel acquisitions   (35,623)
Net proceeds from sale of hotel assets 4,189 7,875
Net cash provided by (used in) investing activities 3,598 (28,049)
Cash flows from financing activities:    
Deferred financing costs (283) (150)
Proceeds from long-term debt 1,500 34,818
Principal payments on long-term debt (4,393) (7,770)
Proceeds from common stock issuance   103
Redemption of common units (42)  
Tax withholdings on stock compensation (65) (161)
Cash dividends paid to common shareholders (2,318) (2,308)
Cash dividends paid to common unit holders (12) (17)
Cash dividends paid to preferred shareholders   (144)
Net cash provided by (used in) financing activities (5,613) 24,371
Increase (decrease) in cash, cash equivalents, and restricted cash 1,057 (743)
Cash, cash equivalents, and restricted cash beginning of period 9,156 10,335
Cash, cash equivalents, and restricted cash end of period 10,213 9,592
Supplemental cash flow information:    
Interest paid 1,690 1,515
Income taxes paid, net of refunds $ 66 22
Schedule of noncash investing and financing activities:    
Fair value of operating partnership common units issued in acquisitions   $ 50