|6 Months Ended|
Jun. 30, 2021
|Discontinued Operations [Abstract]|
|Discontinued Operations||15. Discontinued Operations On September 30, 2020, the Company completed the spin-off its former wholly owned subsidiary, BBX Capital. The Company continues to hold its investment in Bluegreen. BBX Capital, which became a separate public company as a result of the spin-off, holds all of the other businesses and investments previously owned by the Company, including BBX Capital Real Estate, BBX Sweet Holdings, and Renin. The Company no longer holds any interest in BBX Capital. BBX Capital and its subsidiaries’ operations are presented as discontinued operations in the Company’s financial statements. As of June 30, 2021 and December 31, 2020, there were no carrying amounts of major classes of assets or liabilities included as part of discontinued operations. The major components of loss from discontinued operations were as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2021 2020 2021 2020Revenues: Trade sales $ — $ 23,043 $ — $ 63,920Sales of real estate inventory — 2,839 — 9,278Interest income — 81 — 197Net gain (loss) on sales of real estate assets — 12 — (34)Other revenue — 453 — 1,051Total revenues — 26,428 — 74,412Costs and Expenses: Cost of trade sales — 22,385 — 52,157Cost of real estate inventory sold — 1,474 — 6,106Recoveries from loan losses, net — (1,525) — (5,037)Impairment losses — 3,305 — 31,588Selling, general and administrative expenses — 9,452 — 26,755Total costs and expenses — 35,091 — 111,569Equity in net earnings (losses) of unconsolidated real estate joint ventures — 145 — 696Foreign exchanges gain — (5) — 273Other income — 75 — 111Loss from discontinued operations before income taxes $ — $ (8,448) $ — $ (36,077) The major components of the statement of cash flows from discontinued operations were as follows (in thousands): For the Six Months Ended June 30, 2021 2020Operating activities: Net loss $ — $ (34,936)Adjustment to reconcile net loss to net cash used in operating activities: Recoveries from loan losses, net — (5,037)Depreciation, amortization and accretion, net — 3,780Net losses on sales of real estate and property and equipment — 34Equity earnings of unconsolidated real estate joint ventures — (696)Return on investment in unconsolidated real estate joint ventures — 3,991Increase in deferred income tax asset — (1,144)Impairment losses — 31,588Decrease in trade inventory — 2,342Increase in trade receivables — (2,053)Decrease in real estate inventory — (316)Net change in operating lease assets and liabilities — (507)Increase in other assets — (234)Decrease in other liabilities — 1,840Net cash used in operating activities $ — $ (1,348)Investing activities: Return of investment in unconsolidated real estate joint ventures — 748Investments in unconsolidated real estate joint ventures — (12,664)Proceeds from repayment of loans receivable — 5,259Additions to real estate — (59)Purchases of property and equipment — (3,574)Decrease in cash from other investing activities — (34)Net cash used in investing activities $ — $ (10,324)|
The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef