v3.21.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income (loss) $ 5,504 $ (30,815)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Recoveries from loan losses, net   (3,512)
Provision for loan losses 12,319 30,353
Depreciation, amortization and accretion, net 5,189 6,902
Share-based compensation expense   2,731
Net losses on sales of real estate and property and equipment 11 3
Equity earnings of unconsolidated real estate joint ventures   (551)
Return on investment in unconsolidated real estate joint ventures   1,430
(Decrease) increase in deferred income tax liability (4,440) (6,052)
Impairment losses   28,283
Changes in operating assets and liabilities:    
Notes receivable (4,534) (11,184)
VOI Inventory 2,032 (356)
Trade inventory   312
Real estate inventory   1,241
Prepaid expense and other assets (15,192) (10,582)
Accounts payable, accrued liabilities and other, and deferred income 11,080 (38,197)
Net cash provided by (used in) operating activities 11,969 (29,994)
Investing activities:    
Investments in unconsolidated real estate joint ventures   (2,922)
Proceeds from repayment of loans receivable   3,909
Proceeds from sales of real estate   100
Additions to real estate   (51)
Purchases of property and equipment (4,049) (6,549)
Net cash used in investing activities (4,049) (5,513)
Financing activities:    
Repayments of notes payable and other borrowings (63,484) (44,076)
Proceeds from notes payable and other borrowings 42,350 118,943
Redemption of junior subordinated debentures (4,004)  
Payments for debt issuance costs   (185)
Purchase and retirement of subsidiary common stock   (11,741)
Dividends paid on common stock   (1,144)
Distributions to noncontrolling interests   (923)
Net cash (used in) provided by financing activities (25,138) 60,874
Net (decrease) increase in cash and cash equivalents and restricted cash (17,218) 25,367
Cash, cash equivalents and restricted cash at beginning of period 257,104 406,870
Cash, cash equivalents and restricted cash at end of period 239,886 432,237
Supplemental cash flow information:    
Interest paid on borrowings, net of amounts capitalized 1,818 9,095
Income taxes paid 228 217
Supplementary disclosure of non-cash investing and financing activities:    
Increase in other assets upon issuance of Community Development District Bonds   185
Assumption of Community Development District Bonds by builders   1,532
Reconciliation of cash, cash equivalents and restricted cash:    
Total cash, cash equivalents, and restricted cash $ 239,886 $ 432,237

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