Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities      
Net loss $ (56,354) $ (54,854) $ (38,683)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 27,152 22,396 19,704
Amortization of discount and premium (423) (275) 1,159
Other amortization 8,160 7,225 10,965
Amortization of revenue on golf membership deposit liabilities (1,611) (1,422) (1,549)
Amortization of prepaid golf member dues (14,311) (14,569) (26,545)
Non-cash operating lease expense 8,421 7,043 0
Stock based compensation 1,523 1,317 2,304
(Gain) Loss on Lease Terminations and Impairment (1,970) 15,413 8,240
Equity in (earnings), net of impairment from equity method investment 24,020 (1,381) (1,471)
Other (gains) losses, net (15,573) (19,073) (8,109)
Realized and unrealized (gain) loss on investments 0 0 (131)
Change in:      
Accounts receivable, net, other current assets and other assets - noncurrent 1,418 2,727 3,075
Accounts payable and accrued expenses, deferred revenue, other current liabilities and other liabilities - noncurrent 18,223 7,335 23,839
Net cash used in operating activities (1,325) (28,118) (7,202)
Cash Flows From Investing Activities      
Proceeds from sale of property and equipment 35,617 62,899 78,888
Deposits received on real estate held-for-sale 0 0 9,400
Acquisition and additions of property and equipment and intangibles (10,675) (74,892) (62,359)
Net cash provided by (used in) from investing activities 24,942 (11,993) 25,929
Cash Flows From Financing Activities      
Preferred stock dividends paid (1,395) (5,580) (5,580)
Repayments of debt obligations (5,591) (7,440) (107,790)
Golf membership deposits received 2,994 2,262 3,143
Other financing activities (756) 14 631
Net cash used in financing activities (4,748) (10,744) (109,596)
Net Increase (Decrease) in Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent 18,869 (50,855) (90,869)
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, Beginning of Period 31,964 82,819 173,688
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, End of Period 50,833 31,964 82,819
Cash paid during the period for income taxes 176 124 225
Cash paid during the period for interest expense 3,053 3,854 10,607
Supplemental Schedule of Non-Cash Investing and Financing Activities      
Preferred stock dividends declared but not paid 0 930 930
Additions to finance lease assets and liabilities 6,068 12,776 4,442
Increases (decreases) in accounts payable and accrued expenses related to the purchase of property and equipment $ 3,260 $ (7,508) $ 3,174