Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.20.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net (loss) income $ (89,940) $ 23,514
Adjustment to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Recoveries from loan losses, net (5,844) (4,206)
Provision for notes receivable allowances 44,083 39,462
Depreciation, amortization and accretion, net 19,829 21,150
Share-based compensation expense 25,417 9,379
Net losses (gains) on sales of real estate and property and equipment 507 (11,395)
Equity earnings of unconsolidated real estate joint ventures (49) (37,276)
Return on investment in unconsolidated real estate joint ventures 3,933 38,020
Loss on the deconsolidation of IT'SUGAR, LLC 3,326  
(Decrease) increase in deferred income tax (12,016) 5,210
Impairment losses 31,588 6,786
Interest accretion on redeemable 5% cumulative preferred stock   633
Increase in notes receivable (5,628) (46,001)
Increase in VOI inventory (3,408) (12,672)
Decrease (increase) in trade inventory 279 (5,016)
Increase in real estate inventory 925 (2,865)
Net change in operating lease asset and operating lease liability (914) 1,134
Decrease (increase) in other assets 7,111 (3,852)
Decrease (increase) in other liabilities (16,038) 38,389
Net cash (used in) provided by operating activities 3,161 60,394
Investing activities:    
Return of investment in unconsolidated real estate joint ventures 4,631 30,331
Investments in unconsolidated real estate joint ventures (14,009) (20,076)
Proceeds from repayment of loans receivable 6,127 4,766
Proceeds from sales of real estate 2,151 20,374
Proceeds from the sale of property and equipment 167 15,011
Additions to real estate (70) (438)
Purchases of property and equipment (9,970) (26,286)
Decrease in cash from other investing activities (1,210) (73)
Net cash (used in) provided by investing activities (12,183) 23,609
Financing activities:    
Repayments of notes payable and other borrowings (177,710) (171,061)
Proceeds from notes payable and other borrowings 144,699 99,921
Payments for debt issuance costs (1,134) (351)
Payments of interest of redeemable 5% cumulative preferred stock   (375)
Purchase and retirement of Class A common stock   (8,898)
Cash transferred in spin-off of BBX Capital, Inc. (96,842)  
Purchase and retirement of subsidiary common stock (11,741)  
Dividends paid on common stock (1,144) (3,257)
Distributions to noncontrolling interests (7,194) (3,664)
Net cash used in financing activities (151,066) (87,685)
Decrease in cash, cash equivalents and restricted cash (160,088) (3,682)
Cash, cash equivalents and restricted cash at beginning of period 406,870 421,097
Cash, cash equivalents and restricted cash at end of period 246,782 417,415
Supplemental cash flow information:    
Interest paid on borrowings, net of amounts capitalized 22,912 30,252
Income taxes paid 778 10,873
Supplementary disclosure of non-cash investing and financing activities:    
Construction funds receivable transferred to real estate   15,890
Operating lease assets recognized upon adoption of ASC 842   113,183
Operating lease liabilities recognized upon adoption of ASC 842   123,240
Operating lease assets obtained in exchange for new operating lease liabilities 7,882 27,715
Increase in other assets upon issuance of Community Development District Bonds 827 8,110
Assumption of Community Development District Bonds by builders 3,837 1,035
Reconciliation of cash, cash equivalents and restricted cash:    
Total cash, cash equivalents, and restricted cash $ 246,782 $ 417,415