Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Operations And Comprehensive Income

v3.21.1
Consolidated Statements Of Operations And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Provision for loan losses $ (12,319) $ (30,353)
Total revenues 127,154 134,927
Interest income 19,261 21,200
Other income, net   170
Total revenues 146,415 156,297
Costs and expenses:    
Interest expense 9,735 9,898
Selling, general and administrative expenses 90,964 110,485
Other expense, net 161  
Total costs and expenses 139,722 165,313
Income (loss) before income taxes 6,693 (9,016)
(Provision) benefit for income taxes (1,189) 1,453
Net income (loss) from continuing operations 5,504 (7,563)
Discontinued operations    
Loss from operations   (27,629)
Benefit for income taxes   4,377
Net income (loss) 5,504 (30,815)
Less: Income attributable to noncontrolling interests - continuing operations 2,530 951
Less: Loss attributable to noncontrolling interests - discontinued operations   (3,456)
Net income (loss) attributable to shareholders 2,974 (28,310)
Comprehensive income attributable to Bluegreen Vacations Corporation shareholders $ 2,974 $ (28,897)
Basic earnings (loss) per share from continuing operations $ 0.15 $ (0.47)
Basic loss per share from discontinued operations   (1.08)
Basic earnings (loss) per share 0.15 (1.55)
Diluted earnings (loss) per share from continuing operations 0.15 (0.47)
Diluted loss per share from discontinued operations   (1.08)
Diluted earnings (loss) per share $ 0.15 $ (1.55)
Basic weighted average number of common shares outstanding 19,318 18,298
Diluted weighted average number of common and common equivalent shares outstanding [1] 19,318 18,298
Net income (loss) $ 5,504 $ (30,815)
Other comprehensive loss, net of tax:    
Foreign currency translation adjustments   (550)
Unrealized loss on securities available for sale   (37)
Other comprehensive loss, net   (587)
Comprehensive income (loss), net of tax 5,504 (31,402)
Less: Comprehensive income (loss) attributable to noncontrolling interests 2,530 (2,505)
Comprehensive income (loss) attributable to shareholders 2,974 (28,897)
Gross Sales Of VOIs [Member]    
Revenues:    
Total revenues 68,250 75,481
Sales of VOIs [Member]    
Revenues:    
Total revenues 55,931 45,128
Costs and expenses:    
Total costs and expenses 5,169 4,099
Cost Of VOIs [Member]    
Costs and expenses:    
Total costs and expenses 5,169 4,099
Fee-Based Sales Commission Revenue [Member]    
Revenues:    
Total revenues 25,718 41,365
Other Fee-Based Services Revenue [Member]    
Revenues:    
Total revenues 28,897 29,314
Costs and expenses:    
Total costs and expenses 17,085 21,711
Cost Reimbursements [Member]    
Revenues:    
Total revenues 16,608 19,120
Costs and expenses:    
Total costs and expenses $ 16,608 $ 19,120
[1] Approximately 1,016,981 shares of unvested restricted stock awards were not included in the computation of diluted earnings per share for the three months ended March 31, 2020 as the shares were antidilutive due to a loss for the period.