v3.21.2
Consolidated Statements Of Cash Flows
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Operating activities:      
Net income (loss) $ (36,651) $ 29,383 $ (67,466)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Recoveries from loan losses, net, from discontinued operations     (5,037)
Provision for loan losses   30,807 32,199
Depreciation, amortization and accretion, net   10,116 13,632
Share-based compensation expense   152 5,675
Net losses on sales of real estate and property and equipment   24 77
Equity earnings of unconsolidated real estate joint ventures     (696)
Return on investment in unconsolidated real estate joint ventures     3,991
Decrease in deferred income tax liability   (3,401) (2,070)
Impairment losses     31,588
Changes in operating assets and liabilities:      
Notes receivable   (36,060) 12,137
VOI Inventory   3,760 (3,333)
Trade inventory     2,342
Real estate inventory     (316)
Prepaid expense and other assets   (13,888) 11,390
Accounts payable, accrued liabilities and other, and deferred income   32,376 (50,127)
Net cash provided by (used in) operating activities   53,269 (16,014)
Investing activities:      
Return of investment in unconsolidated real estate joint ventures     748
Investments in unconsolidated real estate joint ventures     (12,664)
Proceeds from repayment of loans receivable     5,260
Proceeds from sales of real estate     131
Additions to real estate     (59)
Purchases of property and equipment   (8,229) (8,157)
Decrease in cash from other investing activities     (145)
Net cash used in investing activities   (8,229) (14,886)
Financing activities:      
Repayments of notes payable and other borrowings   (100,858) (123,547)
Proceeds from notes payable and other borrowings   66,363 135,480
Redemption of junior subordinated debentures   (4,186)  
Payments for debt issuance costs   (87) (591)
Purchase and retirement of subsidiary common stock     (11,741)
Payments of merger transaction costs   (613)  
Dividends paid on common stock     (1,144)
Distributions to noncontrolling interests     (923)
Net cash used in financing activities   (39,381) (2,466)
Net increase (decrease) in cash and cash equivalents and restricted cash   5,659 (33,366)
Cash, cash equivalents and restricted cash at beginning of period   257,104 406,870
Cash, cash equivalents and restricted cash at end of period 373,504 262,763 373,504
Supplemental cash flow information:      
Interest paid on borrowings, net of amounts capitalized   16,138 18,394
Income taxes paid   8,830 259
Supplementary disclosure of non-cash investing and financing activities:      
Increase in other assets upon issuance of Community Development District Bonds     827
Assumption of Community Development District Bonds by builders     1,987
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 323,724 216,112 323,724
Restricted cash 25,189 46,651 25,189
Discontinued opearations cash 24,591   24,591
Total cash, cash equivalents, and restricted cash $ 373,504 $ 262,763 $ 373,504

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