Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

v3.20.2
Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information The table below sets forth the Company’s segment information for the three months ended September 30, 2020 (in thousands):

Revenue:

Sales of
VOIs and
financing

Resort
operations
and club
management

Bluegreen Corporate
and other

BVH Corporate

Elimination


Total

Sales of VOIs

$

59,265

$

$

$

$

59,265

Fee-based sales commission revenue

22,119

22,119

Other fee-based services revenue

1,281

26,550

27,831

Cost reimbursements

15,684

15,684

Mortgage servicing revenue

1,403

(1,403)

Interest income

19,049

623

127

(453)

19,346

Other revenue

Total revenue

103,117

42,234

623

127

(1,856)

144,245

Costs and expenses:

Cost of VOIs sold

3,597

3,597

Net carrying cost of VOI inventory

8,580

(8,580)

Cost of other fee-based services

800

11,481

8,580

20,861

Cost reimbursements

15,684

15,684

Selling, general and administrative expenses

59,502

20,254

41,583

(406)

120,933

Mortgage servicing expense

997

(997)

Interest expense

3,910

3,409

1,102

(453)

7,968

Total costs and expenses

77,386

27,165

23,663

42,685

(1,856)

169,043

Other (expense) income

(365)

26

(339)

Income (loss) before non-controlling interest and (benefit) provision for income taxes

$

25,731

$

15,069

$

(23,405)

(42,532)

$

$

(25,137)

Add: Depreciation and amortization

1,405

208

Add: Severance

208

114

Segment Adjusted EBITDA

$

27,344

$

15,391


The table below sets forth the Company’s segment information as of and for the three months ended September 30, 2019 (in thousands):

Revenue:

Sales of
VOIs and
financing

Resort
operations
and club
management

Bluegreen Corporate
and other

BVH Corporate

Elimination


Total

Sales of VOIs

$

66,318

$

$

$

$

$

66,318

Fee-based sales commission revenue

60,478

60,478

Other fee-based services revenue

4,289

29,455

33,744

Cost reimbursements

17,883

17,883

Mortgage servicing revenue

1,588

(1,588)

Interest income

20,043

2,038

705

(1,200)

21,586

Other income, net

(45)

73

28

Total revenue

152,716

47,338

2,038

660

(2,715)

200,037

Costs and expenses:

Cost of VOIs sold

3,121

3,121

Net carrying cost of VOI inventory

5,878

(5,878)

Cost of other fee-based services

2,442

14,552

5,878

22,872

Cost reimbursements

17,883

17,883

Selling, general and administrative expenses

95,672

22,388

11,926

46

130,032

Mortgage servicing expense

1,561

(1,561)

Interest expense

5,062

5,326

2,566

(1,200)

11,754

Total costs and expenses

113,736

32,435

27,714

14,492

(2,715)

185,662

Other income

537

1,609

58

2,204

Income (loss) before non-controlling interest and (benefit) provision for income taxes

$

39,517

$

14,903

$

(24,067)

$

(13,774)

$

$

16,579

Add: Depreciation and amortization

1,507

321

Add: Bass Pro Settlement

594

238

Segment Adjusted EBITDA

$

41,618

$

15,462


The table below sets forth the Company’s segment information as of and for the nine months ended September 30, 2020 (in thousands):

Revenue:

Sales of
VOIs and
financing

Resort
operations
and club
management

Bluegreen Corporate
and other

BVH Corporate

Elimination


Total

Sales of VOIs

$

113,447

$

$

$

$

$

113,447

Fee-based sales commission revenue

64,619

64,619

Other fee-based services revenue

5,353

78,205

83,558

Cost reimbursements

46,654

46,654

Mortgage servicing revenue

4,508

(4,508)

Interest income

58,258

3,388

841

(2,524)

59,963

Other revenue

Total revenue

246,185

124,859

3,388

841

(7,032)

368,241

Costs and expenses:

Cost of VOIs sold

8,734

8,734

Net carrying cost of VOI inventory

27,407

(27,407)

Cost of other fee-based services

2,989

30,711

27,407

61,107

Cost reimbursements

46,654

46,654

Selling, general and administrative expenses

174,969

48,603

58,810

(1,145)

281,237

Mortgage servicing expense

3,363

(3,363)

Interest expense

12,745

11,932

5,515

(2,524)

27,668

Total costs and expenses

230,207

77,365

60,535

64,325

(7,032)

425,400

Other income, net

41

145

186

Income (loss) before non-controlling interest and (benefit) provision for income taxes

$

15,978

$

47,494

$

(57,106)

$

(63,339)

$

$

(56,973)

Add: Depreciation and amortization

4,447

588

Add: Severance

3,977

1,347

Segment Adjusted EBITDA

$

24,402

$

49,429


The table below sets forth the Company’s segment information as of and for the nine months ended September 30, 2019 (in thousands):

Revenue:

Sales of
VOIs and
financing

Resort
operations
and club
management

Bluegreen Corporate

and other

BVH Corporate

Elimination


Total

Sales of VOIs

$

186,351

$

$

$

$

186,351

Fee-based sales commission revenue

161,033

161,033

Other fee-based services revenue

10,092

83,923

94,015

Cost reimbursements

48,933

48,933

Mortgage servicing revenue

4,621

(4,621)

Interest income

59,985

5,979

1,605

(3,600)

63,969

Other income, net

(127)

197

70

Total revenue

422,082

132,856

5,979

1,478

(8,024)

554,371