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Supplemental Disclosure of Cash Flow Information | 12 Months Ended
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Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract] |
Supplemental Disclosure of Cash Flow Information | Supplemental Disclosure of Cash Flow Information
(in thousands) | For the Years Ended December 31,
Supplemental Disclosure of Cash Flow Information: | 2020 |  | 2019 |  | 2018
Interest paid | $ | 204,696 |  |  | $ | 244,469 |  |  | $ | 260,706 |
Income taxes paid, net of refunds | $ | 8,878 |  |  | $ | 1,534 |  |  | $ | 2,058 |
Capital expenditures, net of related payables: |  |  |  |  |
Capital expenditures - non-development, net | $ | 139,592 |  |  | $ | 235,797 |  |  | $ | 182,249 |
Capital expenditures - development, net | 13,667 |  |  | 24,595 |  |  | 24,687 |
Capital expenditures - non-development - reimbursable | 27,846 |  |  | 34,809 |  |  | 12,165 |
Capital expenditures - development - reimbursable | — |  |  | — |  |  | 1,709 |
Trade accounts payable | 4,766 |  |  | 8,891 |  |  | 4,663 |
Net cash paid | $ | 185,871 |  |  | $ | 304,092 |  |  | $ | 225,473 |
Acquisition of communities from Healthpeak: |  |  |  |  |
Property, plant and equipment and leasehold intangibles, net | $ | 286,734 |  |  | $ | — |  |  | $ | — |
Operating lease right-of-use assets | (63,285) |  |  | — |  |  | — |
Financing lease obligations | 129,196 |  |  | — |  |  | — |
Operating lease obligations | 74,335 |  |  | — |  |  | — |
Loss (gain) on debt modification and extinguishment, net | (19,731) |  |  | — |  |  | — |
Net cash paid | $ | 407,249 |  |  | $ | — |  |  | $ | — |
Master Agreement with Ventas: |  |  |  |  |
Property, plant and equipment and leasehold intangibles, net | $ | (66,444) |  |  | $ | — |  |  | $ | — |
Operating lease right-of-use assets | (153,213) |  |  | — |  |  | — |
Other assets, net | (42,354) |  |  | — |  |  | — |
Long-term debt | 34,053 |  |  | — |  |  | — |
Financing lease obligations | 7,077 |  |  | — |  |  | — |
Operating lease obligations | 362,944 |  |  | — |  |  | — |
Additional paid-in-capital | (22,883) |  |  | — |  |  | — |
Net cash paid | $ | 119,180 |  |  | $ | — |  |  | $ | — |
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Acquisition of other assets, net of related payables and cash received: |  |  |  |  |
Property, plant and equipment and leasehold intangibles, net | $ | 684 |  |  | $ | 44 |  |  | $ | 237,563 |
Other intangible assets, net | — |  |  | 453 |  |  | (4,345) |
Financing lease obligations | 64,260 |  |  | — |  |  | 36,120 |
Other liabilities | — |  |  | — |  |  | 2,433 |
Net cash paid | $ | 64,944 |  |  | $ | 497 |  |  | $ | 271,771 |
Proceeds from sale of CCRC Venture, net: |  |  |  |  |
Investments in unconsolidated ventures | $ | (14,848) |  |  | $ | — |  |  | $ | — |
Current portion of long-term debt | 34,706 |  |  | — |  |  | — |
Other liabilities | 60,748 |  |  | — |  |  | — |
Loss (gain) on sale of assets, net | (369,831) |  |  | — |  |  | — |
Net cash received | $ | (289,225) |  |  | $ | — |  |  | $ | — |
Proceeds from sale of other assets, net: |  |  |  |  |
Prepaid expenses and other assets, net | $ | (1,318) |  |  | $ | (4,422) |  |  | $ | (4,950) |
Assets held for sale | (34,348) |  |  | (79,054) |  |  | (197,111) |
Property, plant and equipment and leasehold intangibles, net | (938) |  |  | (379) |  |  | (93,098) |
Investments in unconsolidated ventures | — |  |  | (156) |  |  | (58,179) |
Financing lease obligations | — |  |  | — |  |  | 93,514 |
Refundable fees and deferred revenue | — |  |  | — |  |  | 8,632 |
Other liabilities | (786) |  |  | (1,479) |  |  | 1,139 |
Loss (gain) on sale of assets, net | (4,701) |  |  | (7,245) |  |  | (249,754) |
Net cash received | $ | (42,091) |  |  | $ | (92,735) |  |  | $ | (499,807) |
Lease termination and modification, net: |  |  |  |  |
Prepaid expenses and other assets, net | $ | — |  |  | $ | — |  |  | $ | (2,804) |
Property, plant and equipment and leasehold intangibles, net | — |  |  | — |  |  | (87,464) |
Financing lease obligations | — |  |  | — |  |  | 58,099 |
Deferred liabilities | — |  |  | — |  |  | 70,835 |
Loss (gain) on sale of assets, net | — |  |  | — |  |  | (5,761) |
Loss (gain) on facility lease termination and modification, net | — |  |  | — |  |  | 34,283 |
Net cash paid (1) | $ | — |  |  | $ | — |  |  | $ | 67,188 |
Supplemental Schedule of Non-cash Operating, Investing and Financing Activities:
Purchase of treasury stock: |  |  |  |  |
Treasury stock | $ | — |  |  | $ | — |  |  | $ | 4,244 |
Accounts payable | — |  |  | — |  |  | (4,244) |
Net | $ | — |  |  | $ | — |  |  | $ | — |
Assets designated as held for sale: |  |  |  |  |
Prepaid expenses and other assets, net | $ | — |  |  | $ | — |  |  | $ | (517) |
Assets held for sale | 7,935 |  |  | 28,608 |  |  | 198,445 |
Property, plant and equipment and leasehold intangibles, net | (7,935) |  |  | (28,608) |  |  | (197,928) |
Net | $ | — |  |  | $ | — |  |  | $ | — |
Healthpeak master lease modification: |  |  |  |  |
Property, plant and equipment and leasehold intangibles, net | $ | (57,462) |  |  | $ | — |  |  | $ | — |
Operating lease right-of-use assets | 88,044 |  |  | — |  |  | — |
Financing lease obligations | 70,874 |  |  | — |  |  | — |
Operating lease obligations | (101,456) |  |  | — |  |  | — |
Net | $ | — |  |  | $ | — |  |  | $ | — |
Other non-cash lease transactions, net: |  |  |  |  |
Prepaid expenses and other assets, net | $ | — |  |  | $ | (636) |  |  | $ | (248) |
Property, plant and equipment and leasehold intangibles, net | 10,707 |  |  | (1,963) |  |  | (132,733) |
Operating lease right-of-use assets | (7,941) |  |  | 18,148 |  |  | — |
Operating lease obligations | 15,126 |  |  | (18,206) |  |  | — |
Financing lease obligations | (15,483) |  |  | — |  |  | 165,918 |
Deferred liabilities | — |  |  | — |  |  | (122,304) |
Other liabilities | (77) |  |  | (731) |  |  | (620) |
Loss (gain) on sale of assets, net | — |  |  | — |  |  | (37,731) |
Loss (gain) on facility lease termination and modification, net | (2,332) |  |  | 3,388 |  |  | 127,718 |
Net | $ | — |  |  | $ | — |  |  | $ | — |
(1) The net cash paid to terminate community leases is presented within the consolidated statements of cash flows based upon the lease classification of the terminated leases. Net cash paid of $54.6 million for the termination of operating leases is presented within net cash provided by operating activities and net cash paid of $12.5 million for the termination of financing leases is presented within net cash used in financing activities for the year ended December 31, 2018. During 2019, the Company and its venture partner contributed cash in an aggregate amount of $13.3 million to a consolidated venture which owns two senior housing communities as of December 31, 2020. The Company obtained a $6.6 million promissory note receivable from its venture partner secured by a 50% equity interest in the venture in a non-cash exchange for the Company funding the $13.3 million aggregate contribution in cash. At the closing of the sale of a senior housing community during 2019 by the consolidated venture, the consolidated venture distributed $6.3 million to the partners with the Company receiving a $3.1 million repayment on the promissory note in a non-cash exchange. Refer to Note 2 for a schedule of the non-cash adjustments to the Company's consolidated balance sheet as of January 1, 2019 as a result of the adoption of new accounting standards. Restricted cash consists principally of escrow deposits for real estate taxes, property insurance, and capital expenditures, debt service reserve accounts required by certain lenders under mortgage debt agreements, and deposits as security for self-insured retention risk under workers' compensation programs and property insurance programs. The components of restricted cash are as follows:
| December 31,
(in thousands) | 2020 |  | 2019
Current: |  |  |
Real estate tax and property insurance escrows | $ | 17,465 |  |  | $ | 16,299 |
Replacement reserve escrows | 9,465 |  |  | 9,071 |
Resident deposits | 253 |  |  | 475 |
Other | 876 |  |  | 1,011 |
Subtotal | 28,059 |  |  | 26,856 |
Long term: |  |  |
Insurance deposits | 21,903 |  |  | 23,692 |
Debt service reserve | 17,784 |  |  | 281 |
CCRCs escrows | 15,329 |  |  | 10,641 |
Letters of credit collateral | 1,653 |  |  | — |
Subtotal | 56,669 |  |  | 34,614 |
Total | $ | 84,728 |  |  | $ | 61,470 |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sums to the total of the same such amounts shown in the consolidated statements of cash flows.
| December 31,
(in thousands) | 2020 |  | 2019
Reconciliation of cash, cash equivalents, and restricted cash: |  |  |
Cash and cash equivalents | $ | 380,420 |  |  | $ | 240,227 |
Restricted cash | 28,059 |  |  | 26,856 |
Long-term restricted cash | 56,669 |  |  | 34,614 |
Total cash, cash equivalents, and restricted cash | $ | 465,148 |  |  | $ | 301,697 |

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- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -URI http://asc.fasb.org/topic&trid=2134446 + Details
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