Bluegreen Vacations Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2022


	Three Months Ended
	March 31,
Revenues:	2022		2021
Sales of VOIs and financing	$	149,591	$	104,362
Resort operations and club management		28,125		26,623
Cost reimbursements ⁽¹⁾		18,064		16,608
Total segment revenues		195,780		147,593
Corporate and other		610		133
Eliminations		(1,261)		(1,311)
Total revenues	$	195,129	$	146,415

(1)Revenue and Cost reimbursements net to zero and are excluded from the computation of adjusted EBITDA

below.

Reconciliation of Adjusted EBITDA from Segments to Net Income


	Three Months Ended
	March 31,
	2022		2021
Adjusted EBITDA ⁽¹⁾:
Sales of VOIs and financing	$	35,733	$	21,128
Resort operations and club management		20,551		18,233
Segment Adjusted EBITDA		56,284		39,361
General and administrative ⁽²⁾		(25,300)		(25,467)
Depreciation and amortization		(1,832)		(1,601)
Other income (expense), net		548		(161)
Interest income (other than interest earned on VOI notes receivable)		62		133
Interest expense - corporate		(4,364)		(5,572)
Provision for income taxes		(6,190)		(1,189)
Net income		19,208		5,504
Less: Net income attributable to ‎ Non-controlling interests		(3,220)		(2,530)
Net income attributable to shareholders	$	15,988	$	2,974

(1)See Management’s Discussion and Analysis of Financial Condition and Results of Operations for information regarding Adjusted

EBITDA, including the definition of Adjusted EBITDA.

(2) Included in general and administrative expenses for the three months ended Mach 31, 2022 is $0.7 million of share-based compensation. There was no share-based compensation during the three months ended March 31, 2021.