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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income (loss) $ (9,299) $ (12,313)
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Provision for (recovery of) loan losses 1,506 4,293
Depreciation and amortization 14,708 18,501
Payments for withholding taxes upon vesting of stock-based compensation (1,109) (1,683)
Non-cash expense for stock-based compensation 4,577 3,238
Amortization of discounts/premiums and deferred financing costs on debt obligations, net 4,601 4,025
Amortization of discounts/premiums and deferred interest on loans, net (22,049) (19,303)
Earnings from equity method investments (8,267) (6,547)
Distributions from operations of other investments 26,317 3,946
Deferred operating lease income (2,126) (1,796)
Income from sales of real estate (10,458) (21,156)
Land development in excess of cost of sales (10,458) (21,156)
Other operating activities, net 7,745 2,463
Changes in assets and liabilities:    
Changes in accrued interest and operating lease income receivable, net 2,415 (2,083)
Changes in deferred expenses and other assets, net 1,034 5,229
Changes in accounts payable, accrued expenses and other liabilities (23,023) (27,801)
Cash flows used in operating activities (16,800) (52,354)
Cash flows from investing activities:    
Originations and fundings of loans receivable, net (94,343) (188,044)
Capital expenditures on real estate assets (17,735) (14,716)
Capital expenditures on land and development assets (29,375) (19,953)
Repayments of and principal collections on loans receivable and other lending investments, net 73,211 34,992
Net proceeds from sales of loans receivable 0 5,595
Proceeds from Sale of Real Estate Held-for-investment 35,680 147,635
Proceeds from Sale of Land Held-for-investment 8,775 7,737
Distributions from other investments 7,675 4,260
Contributions to other investments (6,377) (1,231)
Changes in restricted cash held in connection with investing activities 1,660 (136)
Other investing activities, net 7,716 7,807
Cash flows used in investing activities (13,113) (16,054)
Cash flows from financing activities:    
Borrowings from debt obligations 275,000 250,000
Repayments of debt obligations (282,755) (12,328)
Preferred dividends paid (12,830) (12,830)
Repurchase of stock (58,760) (558)
Other financing activities, net (10,686) (2,585)
Cash flows from (used in) financing activities (90,031) 221,699
Effect of exchange rate changes on cash 24 0
Changes in cash and cash equivalents (119,920) 153,291
Cash and cash equivalents at beginning of period 711,101 472,061
Cash and cash equivalents at end of period 591,181 625,352
Land    
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Land development in excess of cost of sales $ (3,372) $ (1,367)