Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 167,692 $ 140,140
Restricted cash 5,178 4,992
Accounts receivable, net - Note 2 8,780 8,047
Real estate securities, available-for-sale - Note 8 2,294 629,254
Other current assets - Note 2 23,568 78,687
Total Current Assets 207,512 861,120
Restricted cash, noncurrent 818 1,412
Property and equipment, net of accumulated depreciation - Note 5 241,258 217,611
Intangibles, net of accumulated amortization - Note 6 57,276 65,112
Other investments 21,135 19,256
Other assets - Note 2 8,649 7,447
Total Assets 536,648 1,171,958
Current Liabilities    
Obligations under capital leases - Note 7 4,652 3,699
Membership deposit liabilities 8,733 8,491
Repurchase agreements - Note 7 0 600,964
Accounts payable and accrued expenses - Note 2 36,797 26,249
Deferred revenue - Note 2 31,207 29,851
Other current liabilities - Note 2 22,596 28,968
Total Current Liabilities 103,985 698,222
Credit facilities and obligations under capital leases - Note 7 112,105 111,585
Junior subordinated notes payable - Note 7 51,208 51,217
Membership deposit liabilities, noncurrent 86,523 80,549
Deferred revenue, noncurrent - Note 2 6,930 6,256
Other liabilities - Note 2 4,846 6,062
Total Liabilities 365,597 953,891
Commitments and contingencies - Note 14
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 December 31, 2017 and 2016 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 66,977,104 and 66,824,304 shares issued and outstanding at December 31, 2017 and 2016, respectively 670 668
Additional paid-in capital 3,173,281 3,172,720
Accumulated deficit (3,065,853) (3,018,072)
Accumulated other comprehensive income - Note 2 1,370 1,168
Total Equity 171,051 218,067
Total Liabilities and Equity $ 536,648 $ 1,171,958