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8/5/2022 part 7
Resource America, Inc. And Subsidiaries Consolidated Statements Of Cash Flows (Unaudited) (in thousands)
| Nine Months Ended June 30
|
| 1998 | 1997 |
Cash Flows from Operating Activities: Net income | $18,637 | $7,750 |
Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization | 1,948 | 1,161 |
Property impairments | 262 | 3 |
Amortization of discount on senior notes and deferred finance costs | 1,450 | 86 |
Provision for possible losses | 1,204 | 303 |
Collection of interest income | 4,263 | 432 |
Accretion of discount | (5,872) | (2,603) |
Deferred income taxes | 308 | 894 |
Gains on asset dispositions | (28,123) | (6,043) |
Change in operating assets and liabilities net of effects from purchase of subsidiaries: (Increase) decrease in accounts receivable | (606) | 333 |
Increase in prepaid expenses and other current assets | (1,640) | (196) |
Increase in accounts payable | 1,620 | 78 |
Increase in other current liabilities | 2,240
| 636
|
Net Cash Provided by (Used in) Operating Activities | (4,309) | 2,834 |
Investing Activities: Acquisition of business, less cash acquired | (997) | - |
Cost of equipment acquired for lease | (59,536) | (21,201) |
Capital expenditures | (3,271) | (1,814) |
Proceeds from sales or refinancings of assets | 245,072 | 20,749 |
Principal payments on notes receivable | 6,301 | 2,843 |
Payments received in excess of revenue recognized on leases and mortgages | 2,520 | 1,336 |
Increase in other assets | (12,409) | (4,031) |
Increase in other long-term liabilities | 878 | - |
Investments in real estate loans | (277,801)
| (35,130)
|
Net Cash Used in Investing Activities | (99,243) | (37,248) |
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