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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (82,878) $ 292,414 $ 151,803
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Depreciation and amortization 289,025 286,235 276,861
Amortization of debt premiums, discounts and issuance costs 6,032 6,221 5,282
Straight line rental income (4,508) (10,227) (13,958)
Amortization of acquired real estate leases and other intangible assets (6,791) (5,787) (5,349)
Loss on early extinguishment of debt 44 22 7,627
Impairment of assets 115,201 66,346 5,082
Gain on sale of properties (39,696) (261,916) (46,055)
Gains and losses on equity securities, net 41,898 20,724 0
Other non-cash adjustments (3,771) (3,772) (3,772)
Equity in earnings of an investee (400) (516) (608)
Distribution of earnings from Affiliates Insurance Company 2,574 0 0
Change in assets and liabilities:      
Other assets 1,794 (3,586) (5,197)
Accrued interest (2,105) 8,195 (484)
Other liabilities (50,574) (1,513) 48,072
Net cash provided by operating activities 265,845 392,840 419,304
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate acquisitions and deposits (50,636) (129,494) (159,290)
Real estate improvements (222,417) (103,804) (117,213)
Proceeds from sale of properties, net 254,241 332,389 55,068
Proceeds from sale of RMR Inc. common shares, net 98,557 0 0
Distributions in excess of earnings from equity investee 6,426 0 0
Net cash provided by (used in) investing activities 86,171 99,091 (221,435)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior unsecured notes, net 0 491,560 0
Proceeds from borrowings on revolving credit facility 994,500 727,000 764,000
Repayments of borrowings on revolving credit facility (596,000) (1,184,000) (495,000)
Redemption of senior notes (400,000) 0 0
Repayments of Long-term Debt (100,000) 0 0
Repayment of other debt (46,345) (107,116) (313,964)
Loss on early extinguishment of debt settled in cash 0 (150) (5,485)
Payment of debt issuance costs (417) (4,296) (6,845)
Repurchase of common shares (299) (411) (341)
Proceeds from noncontrolling interest, net 0 0 255,931
Distributions to noncontrolling interest (21,583) (21,022) (13,814)
Distributions to shareholders (199,719) (370,746) (370,608)
Net cash used in financing activities (369,863) (469,181) (186,126)
(Decrease) increase in cash and cash equivalents and restricted cash (17,847) 22,750 11,743
Cash and cash equivalents and restricted cash at beginning of period 70,071 47,321 35,578
Cash and cash equivalents and restricted cash at end of period 52,224 70,071 47,321
SUPPLEMENTAL CASH FLOWS INFORMATION:      
Interest paid 177,308 164,996 160,221
Income taxes paid 452 474 441
NON-CASH INVESTING ACTIVITIES:      
Acquisitions funded by assumed debt 0 (44,386) 0
Capitalized interest 1,124 124 0
NON-CASH FINANCING ACTIVITIES:      
Assumption of mortgage notes payable $ 0 $ 44,386 $ 0