v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net income (loss) $ (18,913) $ (10,904)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,193 6,245
Amortization of discount and premium (171) (126)
Other amortization 2,044 2,000
Amortization of revenue on golf membership deposit liabilities (508) (564)
Amortization of prepaid golf membership dues (3,935) (6,467)
Non-cash operating lease expense 736 107
Stock-based compensation (696) 349
Loss on lease terminations and impairment 12,871 3,209
Gain from insurance proceeds for property loss 2,781 0
Other losses, net 120 182
Change in:    
Accounts receivable, net, other current assets and other assets - noncurrent (1,220) (3,868)
Accounts payable and accrued expenses, deferred revenue, other current liabilities and other liabilities - noncurrent 3,798 2,281
Net cash used in operating activities (2,462) (7,556)
Cash Flows From Investing Activities    
Insurance proceeds for property loss (2,781) 0
Acquisition and additions of property and equipment and intangibles (10,964) (6,542)
Net cash used in investing activities (8,183) (6,542)
Cash Flows From Financing Activities    
Repayments of debt obligations (1,499) (1,685)
Golf membership deposits received 45 815
Proceeds from issuance of common stock 0 53,905
Capital distribution paid (40) 0
Preferred stock dividends paid (1,395) 0
Other financing activities (761) (187)
Net cash provided by (used in) financing activities (3,650) 52,848
Net Increase (Decrease) in Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent (14,295) 38,750
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, Beginning of Period 62,564 50,833
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, End of Period 48,269 89,583
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Preferred stock dividends declared but not paid 930 930
Additions to finance lease assets and liabilities 1,297 298
Decreases in accounts payable and accrued expenses related to the purchase of property and equipment (235) (1,916)
Additions for operating right of use assets and liabilities 21,467 0
Cash paid during the period for interest expense 540 0
Cash paid during the period for income taxes $ 0 $ 0

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