Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 182,371 $ 140,140
Restricted cash 4,629 4,992
Accounts receivable, net 8,540 8,047
Real estate securities, available-for-sale 2,236 629,254
Other current assets 22,540 78,687
Total Current Assets 220,316 861,120
Restricted cash, noncurrent 1,407 1,412
Property and equipment, net of accumulated depreciation 226,049 217,611
Intangibles, net of accumulated amortization 59,309 65,112
Other investments 20,601 19,256
Other assets 8,433 7,447
Total Assets 536,115 1,171,958
Current Liabilities    
Obligations under capital leases 4,484 3,699
Membership deposit liabilities - current portion 8,830 8,491
Repurchase agreements 0 600,964
Accounts payable and accrued expenses 33,672 26,249
Deferred revenue 9,955 29,851
Other current liabilities 21,753 28,968
Total Current Liabilities 78,694 698,222
Credit facilities and obligations under capital leases 112,383 111,585
Junior subordinated notes payable 51,210 51,217
Membership deposit liabilities 84,896 80,549
Deferred revenue, noncurrent 6,900 6,256
Other liabilities 5,724 6,062
Total Liabilities 339,807 953,891
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 September 30, 2017 and December 31, 2016 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 66,932,744 and 66,824,304 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 669 668
Additional paid-in capital 3,173,095 3,172,720
Accumulated deficit (3,040,386) (3,018,072)
Accumulated other comprehensive income 1,347 1,168
Total Equity 196,308 218,067
Total Liabilities and Equity $ 536,115 $ 1,171,958