Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Operating activities:              
Net income $ 15,702 $ 20,077 [1] $ 102,303 $ 42,596      
Adjustment to reconcile net income to net cash provided by operating activities:              
Recoveries from loan losses and asset impairments, net (4,581) (3,107)          
Provision for notes receivable allowances 8,006 9,199          
Depreciation, amortization and accretion, net 6,017 4,434          
Share-based compensation expense 3,452 3,382          
Net (gains) losses on sales of real estate held-for-sale and properties and equipment (4,070) 198          
Equity in earnings of unconsolidated real estate joint ventures (1,280) (3,236) [1] (12,541) (12,178)      
Return on investment in unconsolidated real estate joint ventures 2,058 3,009          
Increase in deferred income tax 6,612 12,492          
Net gains realized on cancellation of junior subordinated debentures [1]   (6,929)          
Interest accretion on redeemable 5% cumulative preferred stock 446 298          
Increase in notes receivable (5,264) (3,872)          
Increase in VOI inventory (9,673) (6,664)          
Increase in trade inventory (685) (2,966)          
Decrease (increase) in real estate inventory 5,690 (1,395)          
Increase in other assets (6,353) (10,091)          
Decrease in other liabilities (17,759) (12,042)          
Net cash (used in) provided by operating activities (1,682) 2,787          
Investing activities:              
Return of investment in unconsolidated real estate joint ventures 1,672 971          
Investments in unconsolidated real estate joint ventures (57) (313)          
Repayment of loans receivable 15,170 3,991          
Proceeds from sale of loans and real estate held-for-sale 11,943 3,636          
Additions to real estate held-for-sale and held-for-investment (193) (194)          
Purchases of property and equipment (8,075) (3,899)          
Proceeds from the sale of property and equipment 280            
Decrease in cash from other investing activities (183) (22)          
Net cash provided by investing activities 20,557 4,170          
Financing activities:              
Repayments of notes payable and other borrowings (53,906) (39,912)          
Proceeds from notes payable and other borrowings 26,866 11,679          
Redemption of junior subordinated debentures   (11,438)          
Payments for debt issuance costs (663) (24)          
Payments of interest on redeemable 5% cumulative preferred stock (188) (188)          
Dividends paid on common stock (779) (504)          
Distributions to noncontrolling interest (1,121)            
Net cash used in financing activities (29,791) (40,387)          
Decrease in cash, cash equivalents and restricted cash (10,916) (33,430)          
Cash, cash equivalents and restricted cash at beginning of period 409,247 346,317 346,317        
Cash, cash equivalents and restricted cash at end of period 398,331 312,887 409,247 346,317      
Supplemental cash flow information:              
Interest paid on borrowings (8,059) (7,822)          
Income taxes paid (283) (307)          
Income tax refunded          
Supplementary disclosure of non-cash investing and financing activities:              
Construction funds receivable transferred to real estate 3,704            
Loans receivable transferred to real estate 668 601          
Reduction in redeemable 5% cumulative preferred stock (4,862)            
Reduction in note receivable from holder of redeemable cumulative preferred stock 5,000            
Decrease in deferred tax liabilities due to cumulative effect of excess tax benefits             $ 3,054
Reconciliation of cash, cash equivalents and restricted cash              
Cash and cash equivalents         $ 349,945 $ 362,526 [1] 262,392
Restricted cash         48,386 46,721 [1] 50,495
Total cash, cash equivalents, and restricted cash $ 409,247 $ 346,317 $ 346,317 $ 346,317 $ 398,331 $ 409,247 $ 312,887
[1] See Note 1 for a summary of adjustments.