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, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net loss $ (31,762) $ (56,354) $ (54,854)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 24,018 27,152 22,396
Amortization of premium (576) (423) (275)
Accretion of membership deposit liability 8,198 8,160 7,225
Amortization of revenue on golf membership deposit liabilities (2,148) (1,611) (1,422)
Amortization of prepaid golf member dues (12,744) (14,311) (14,569)
Non-cash operating lease (benefit) expense (1,221) 8,421 7,043
Stock based compensation 2,055 1,523 1,317
(Gain) Loss on Lease Terminations and Impairment 5,035 (1,970) 15,413
Equity in (earnings), net of impairment from equity method investment 0 24,020 (1,381)
Other (gains) losses, net (384) (15,573) (19,073)
Realized and unrealized (gain) loss on investments 0 0 0
Change in:      
Accounts receivable, net, other current assets and other assets - noncurrent (12,069) 1,418 2,727
Accounts payable and accrued expenses, deferred revenue, other current liabilities and other liabilities - noncurrent 21,852 18,223 7,335
Net cash provided by (used in) operating activities 254 (1,325) (28,118)
Cash Flows From Investing Activities      
Proceeds from sale of property and equipment 0 35,617 62,899
Acquisition and additions of property and equipment and intangibles (32,587) (10,675) (74,892)
Net cash provided by (used in) from investing activities (32,587) 24,942 (11,993)
Cash Flows From Financing Activities      
Preferred stock dividends paid (4,185) (1,395) (5,580)
Repayments of debt obligations (6,350) (5,591) (7,440)
Golf membership deposits received 1,601 2,994 2,262
Issuance of common stock 53,905 0 0
Other financing activities (907) (756) 14
Net cash provided by (used in) financing activities 44,064 (4,748) (10,744)
Net Increase (Decrease) in Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent 11,731 18,869 (50,855)
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, Beginning of Period 50,833 31,964 82,819
Cash and Cash Equivalents, Restricted Cash and Restricted Cash, noncurrent, End of Period 62,564 50,833 31,964
Cash paid during the period for income taxes 1,489 176 124
Cash paid during the period for interest expense 2,297 3,053 3,854
Supplemental Schedule of Non-Cash Investing and Financing Activities      
Preferred stock dividends declared but not paid 930 0 930
Additions to finance lease assets and liabilities 1,955 6,068 12,776
Increases (decreases) in accounts payable and accrued expenses related to the purchase of property and equipment $ (728) $ 3,260 $ (7,508)