v3.22.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 44,068,000 $ 58,286,000
Restricted cash 3,985,000 3,480,000
Accounts receivable, net 5,405,000 5,563,000
Real estate securities, available-for-sale 3,655,000 3,486,000
Other current assets 31,577,000 30,034,000
Total current assets 88,690,000 100,849,000
Restricted cash, noncurrent 216,000 798,000
Property and equipment, net of accumulated depreciation 172,002,000 179,260,000
Operating lease right-of-use assets 198,926,000 181,915,000
Intangibles, net of accumulated amortization 13,509,000 13,430,000
Other assets 6,374,000 6,538,000
Total assets 479,717,000 482,790,000
Current liabilities    
Obligations under finance leases 5,186,000 5,400,000
Membership deposit liabilities 18,039,000 18,039,000
Accounts payable and accrued expenses 33,310,000 34,469,000
Deferred revenue 23,323,000 26,301,000
Other current liabilities 29,375,000 26,524,000
Total current liabilities 109,233,000 110,733,000
Credit facilities and obligations under finance leases - noncurrent 8,867,000 9,075,000
Operating lease liabilities - noncurrent 183,302,000 166,031,000
Junior subordinated notes payable 51,172,000 51,174,000
Membership deposit liabilities, noncurrent 105,749,000 104,430,000
Deferred revenue, noncurrent 10,864,000 10,005,000
Other liabilities 1,716,000 1,487,000
Total liabilities 470,903,000 452,935,000
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 1,347,321 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, 496,000 shares of 8.05% Series C Cumulative Redeemable Preferred Stock, and 620,000 shares of 8.375% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, issued and outstanding as of March 31, 2022 and December 31, 2021 61,583,000 61,583,000
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 92,362,845 and 92,093,425 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively. 921,000 921,000
Additional paid-in capital 3,232,912,000 3,233,608,000
Accumulated deficit (3,289,237,000) (3,268,876,000)
Accumulated other comprehensive income 1,163,000 1,163,000
Total equity of the company 7,342,000 28,399,000
Noncontrolling interest 1,472,000 1,456,000
Total equity 8,814,000 29,855,000
Total liabilities and equity $ 479,717,000 $ 482,790,000

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