Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 137,028 $ 167,692
Restricted cash 3,162 5,178
Accounts receivable, net 9,046 8,780
Real estate assets, held-for-sale 164,040 2,000
Real estate securities, available-for-sale 2,362 2,294
Other current assets 25,815 21,568
Total Current Assets 341,453 207,512
Restricted cash, noncurrent 821 818
Property and equipment, net of accumulated depreciation 86,850 241,258
Intangibles, net of accumulated amortization 54,896 57,276
Other investments 21,514 21,135
Other assets 8,442 8,649
Total Assets 513,976 536,648
Current Liabilities    
Obligations under capital leases 4,892 4,652
Membership deposit liabilities 8,715 8,733
Accounts payable and accrued expenses 34,513 36,797
Deferred revenue 13,636 31,207
Real estate liabilities, held-for-sale 13,487 0
Other current liabilities 16,532 22,596
Total Current Liabilities 91,775 103,985
Credit facilities and obligations under capital leases 112,156 112,105
Junior subordinated notes payable 51,206 51,208
Membership deposit liabilities, noncurrent 88,247 86,523
Deferred revenue, noncurrent 7,332 6,930
Other liabilities 4,779 4,846
Total Liabilities 355,495 365,597
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, 2018 and December 31, 2017 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 66,977,104 and 66,977,104 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 670 670
Additional paid-in capital 3,173,559 3,173,281
Accumulated deficit (3,078,734) (3,065,853)
Accumulated other comprehensive income 1,403 1,370
Total Equity 158,481 171,051
Total Liabilities and Equity $ 513,976 $ 536,648