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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net earnings (loss) $ (3,025) $ 15
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 2,710 2,362
Net (gain) loss on disposition of assets 9 (39)
Net loss on derivatives and convertible debt 759 237
Equity in earnings of joint venture (80) (513)
Amortization of deferred financing costs 275 373
Stock-based compensation expense 84 336
Provision for deferred taxes (333) 180
Changes in operating assets and liabilities:    
(Increase) decrease in assets 748 (838)
Increase (decrease) in liabilities (12) 959
Net cash provided by operating activities 1,135 3,072
Cash flows from investing activities:    
Additions to hotel properties (264) (791)
Distributions in excess of cumulative earnings from joint venture 480 200
Hotel acquisitions, net of cash acquired (7,175)  
Net proceeds from sale of hotel assets 1 4,189
Net cash provided by (used in) investing activities (6,958) 3,598
Cash flows from financing activities:    
Deferred financing costs (345) (283)
Proceeds from long-term debt 9,020 1,500
Principal payments on long-term debt (306) (4,393)
Redemption of common units   (42)
Tax withholdings on stock compensation (15) (65)
Cash dividends paid to common shareholders   (2,318)
Cash dividends paid to common unit holders   (12)
Net cash provided by (used in) financing activities 8,354 (5,613)
Increase in cash, cash equivalents, and restricted cash 2,531 1,057
Cash, cash equivalents, and restricted cash beginning of period 8,395 9,156
Cash, cash equivalents, and restricted cash end of period 10,926 10,213
Supplemental cash flow information:    
Interest paid 1,564 1,690
Income taxes paid, net of refunds 1 66
Schedule of noncash investing and financing activities:    
Debt assumed in acquisition 34,080
Land option liability in acquisition $ 8,497