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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net earnings (loss) $ (1,255) $ 3,699
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization expense 4,756 4,703
Net gain on disposition of assets (23) (1,871)
Net (gain) loss on derivatives and convertible debt 693 (603)
Equity in earnings of joint venture (679) (292)
Distributions from cumulative earnings of joint venture 3 124
Amortization of deferred financing costs 695 717
Impairment recovery, net   (93)
Stock-based compensation expense 760 665
Provision for deferred taxes 619 169
Changes in operating assets and liabilities:    
Increase in assets (2,359) (481)
Increase (decrease) in liabilities 1,160 (19)
Net cash provided by operating activities 4,370 6,718
Cash flows from investing activities:    
Additions to hotel properties (1,070) (1,171)
Distributions in excess of cumulative earnings from joint venture 850 836
Hotel acquisitions   (35,623)
Net proceeds from sale of hotel assets 4,189 14,756
Net cash provided by (used in) investing activities 3,969 (21,202)
Cash flows from financing activities:    
Deferred financing costs (412) (147)
Proceeds from long-term debt 1,500 35,318
Principal payments on long-term debt (4,684) (14,817)
Proceeds from common stock issuance   257
Redemption of common units (42)  
Tax withholdings on stock compensation (166) (175)
Cash dividends paid to common shareholders (4,642) (4,624)
Cash dividends paid to common unit holders (23) (35)
Cash dividends paid to preferred shareholders (145) (289)
Net cash provided by (used in) financing activities (8,614) 15,488
Increase (decrease) in cash, cash equivalents, and restricted cash (275) 1,004
Cash, cash equivalents, and restricted cash beginning of period 9,156 10,335
Cash, cash equivalents, and restricted cash end of period 8,881 11,339
Supplemental cash flow information:    
Interest paid 3,519 3,215
Income taxes paid, net of refunds $ 67 22
Schedule of noncash investing and financing activities:    
Fair value of operating partnership common units issued in acquisitions   $ 50