Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 49,599 $ 79,235
Restricted cash 3,365 3,326
Accounts receivable, net 5,635 7,518
Real estate assets, held-for-sale, net 51,931 75,862
Real estate securities, available-for-sale 3,007 2,953
Other current assets 20,331 20,505
Total current assets 133,868 189,399
Restricted cash, noncurrent 258 258
Property and equipment, net of accumulated depreciation 157,636 132,605
Operating lease right-of-use assets 223,278  
Intangibles, net of accumulated amortization 20,952 48,388
Other investments 22,956 22,613
Other assets 5,043 8,684
Total assets 563,991 401,947
Current liabilities    
Obligations under finance leases 6,790 5,489
Deferred revenue 14,738 18,793
Accounts payable and accrued expenses 37,740 45,284
Real estate liabilities, held-for-sale 813 2,947
Other current liabilities 29,277 22,285
Total current liabilities 98,192 103,659
Credit facilities and obligations under finance leases - noncurrent 13,185 10,489
Operating lease liabilities - noncurrent 190,229  
Junior subordinated notes payable 51,198 51,200
Membership deposit liabilities, noncurrent 92,603 90,684
Deferred revenue, noncurrent 5,445 6,016
Other liabilities 3,076 5,232
Total liabilities 453,928 267,280
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, 2019 and December 31, 2018 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 67,027,104 and 67,027,104 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 670 670
Additional paid-in capital 3,177,065 3,175,843
Accumulated deficit (3,131,133) (3,105,307)
Accumulated other comprehensive income 1,878 1,878
Total equity 110,063 134,667
Total liabilities and equity 563,991 401,947
Membership deposit liabilities    
Current liabilities    
Deferred revenue $ 8,834 $ 8,861