Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities    
Net loss $ (35,175) $ (18,129)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 14,358 17,952
Amortization of discount and premium 891 (3,856)
Other amortization 8,217 7,889
Net interest income on investments accrued to principal balance 0 (8,458)
Amortization of revenue on golf membership deposit liabilities (1,127) (963)
Amortization of prepaid golf membership dues (19,570) (20,017)
Stock-based compensation 1,409 376
Impairment 5,645 60
Equity in earnings from equity method investments, net of distributions (1,123) (1,149)
Other losses, net 2,075 5,368
Unrealized (gain) loss on investments (283) 1,246
Loss on extinguishment of debt 66 327
Change in:    
Accounts receivable, net, other current assets and other assets - noncurrent 1,436 (1,053)
Accounts payable and accrued expenses, deferred revenue, other current liabilities and other liabilities - noncurrent 1,064 5,405
Net cash used in operating activities (22,117) (15,002)
Cash Flows From Investing Activities    
Principal repayments from investments 0 100,020
Proceeds from sale of property and equipment 3,186 0
Proceeds from sale of securities and loans 0 595,850
Net payments for settlement of TBAs 0 (4,669)
Acquisition and additions of property and equipment and intangibles (36,542) (16,905)
Deposits paid on property and equipment (8,246) (1,486)
Contributions to equity method investees (7) (196)
Net cash (used in) provided by investing activities (41,609) 672,614
Cash Flows From Financing Activities    
Borrowings under debt obligations 0 1,651
Repayments of debt obligations (3,712) (605,469)
Margin deposits under repurchase agreements and derivatives 0 (89,692)
Return of margin deposits under repurchase agreements and derivatives 0 87,785
Golf membership deposits received 2,544 2,706
Issuance of common stock 258 0
Common stock dividends paid 0 (8,019)
Preferred stock dividends paid (4,185) (4,185)
Payment of deferred financing costs 0 (22)
Other financing activities (290) (504)
Net cash used in financing activities (5,385) (615,749)
Net Decrease in Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent (69,111) 41,863
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, Beginning of Period 173,688 146,544
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, End of Period 104,577 188,407
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Preferred stock dividends declared but not paid 930 930
Additions to capital lease assets and liabilities 4,035 3,601
Changes in property and equipment not yet paid for $ (945) $ 4,135