| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||
Net income (loss) | ||||||||
- | - | - | -1,932 | - | - | - | - | - |
Net income (loss) | ||||||||
-21,936 | 147,107 | 11,950 | - | -8,272 | -87,683 | -166,177 | -35,682 | -28,983 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
Depreciation and amortization | ||||||||
6,897 | 6,368 | 3,693 | 3,267 | 2,804 | 4,405 | 3,762 | 4,794 | 5,246 |
Amortization of share-based compensation | ||||||||
3,312 | 2,207 | 3,113 | 2,770 | 1,648 | 3,034 | 1,850 | 1,442 | 2,138 |
Change in fair value of contingent consideration | ||||||||
-1,818 | -422 | -116 | - | 0 | - | - | - | - |
Impairment charges | ||||||||
943 | 769 | 0 | 0 | - | - | - | - | - |
Impairment of goodwill | ||||||||
- | - | - | - | - | - | 17,215 | 0 | 0 |
Impairment charges, net | ||||||||
- | - | - | - | -248 | 59,043 | 112,732 | 660 | 13,739 |
Loss on extinguishment of debt | ||||||||
-9,848 | - | - | - | - | -1,144 | -211 | - | 1,783 |
Impairment of Poinciana Parkway | ||||||||
- | - | - | - | - | - | - | 0 | 8,108 |
Change in fair value of contingent consideration | ||||||||
- | - | - | - | - | - | -4,388 | 239 | 0 |
Loss on extinguishment of debt | ||||||||
- | - | - | - | - | - | - | 0 | - |
Gain from write-off of 5.50% term bonds | ||||||||
- | - | - | - | - | - | 111 | 0 | - |
Gain from write-off of 5.50% bonds | ||||||||
- | - | - | - | - | - | - | - | 0 |
Equity in loss (income) from unconsolidated entities | ||||||||
- | - | - | -16 | -101 | 259 | -398 | -276 | -196 |
Gain from disposal of assets | ||||||||
- | - | - | - | -36 | -1,130 | 0 | 0 | - |
Deferred income taxes, net | ||||||||
39,892 | -110,257 | - | - | - | - | - | 0 | 1,388 |
Other adjustments | ||||||||
-369 | -135 | 185 | - | - | - | - | - | - |
Distributions of earnings from an unconsolidated entity | ||||||||
- | - | - | - | - | - | 357 | -53 | 341 |
Changes in operating assets and liabilities: | ||||||||
Restricted cash | ||||||||
-66 | -25,717 | 10,501 | 12,491 | -726 | -3,190 | -550 | 7,723 | -915 |
Receivables | ||||||||
2,716 | 3,649 | 3,698 | -987 | -2,837 | -999 | 1,295 | -33,546 | - |
Receivables, net | ||||||||
- | - | - | - | - | - | - | - | 16,410 |
Land and other inventories | ||||||||
-19,011 | 2,646 | 83,804 | 111,667 | 68,787 | 40,576 | -11,230 | 6,300 | -29,084 |
Income tax receivable | ||||||||
- | - | - | - | -1,293 | 0 | -473 | 0 | 0 |
Assets held for sale | ||||||||
- | - | - | -19,811 | 1,213 | -4,429 | 0 | - | - |
Assets held for sale | ||||||||
- | - | - | - | - | - | - | 0 | - |
Prepaid expenses and other assets | ||||||||
5,889 | -3,646 | -1,510 | -398 | 361 | 786 | -4,426 | 832 | -1,529 |
Accounts payable, estimated development liability, and accrued and other liabilities | ||||||||
-12,898 | 3,487 | 17,248 | 15,643 | 6,661 | 3,243 | 2,356 | -488 | -2,964 |
Customer deposits | ||||||||
-472 | 1,350 | 1,813 | 1,789 | - | - | - | - | - |
Net cash used in operating activities | ||||||||
- | - | - | -81,409 | - | - | - | - | - |
Customer deposits | ||||||||
- | - | - | - | 338 | 374 | -946 | -317 | -737 |
Notes, mortgage notes and other debt from the JEN Transaction | ||||||||
- | - | - | - | - | - | - | - | 0 |
Net cash used in operating activities | ||||||||
34,609 | 73,812 | -58,977 | - | -62,437 | -48,313 | -17,357 | -10,438 | 11,807 |
Investing Activities | ||||||||
Investment in property and equipment | ||||||||
2,161 | 1,578 | 1,209 | 1,815 | 1,023 | 4,421 | 831 | 53 | 131 |
Proceeds from sales of property and equipment | ||||||||
5 | 11 | 31 | 12 | 0 | 150 | 0 | 0 | - |
Business acquisitions | ||||||||
41,150 | -10 | 93,760 | 62,684 | - | - | - | - | - |
Business acquisitions | ||||||||
- | - | - | - | 0 | - | - | - | - |
Investment related to JEN Transaction | ||||||||
- | - | - | - | - | - | - | 33,303 | 0 |
Investment in unconsolidated entities | ||||||||
267 | 20 | 2,887 | 3,644 | 111 | 135 | 138 | 96 | 68 |
Return from Poinciana Parkway | ||||||||
- | - | - | - | - | 0 | 15 | 30 | -422 |
Notes receivable from unconsolidated entities | ||||||||
- | - | - | - | - | - | 3,669 | 0 | 0 |
Return of capital from unconsolidated entities | ||||||||
- | - | - | 33 | 0 | 19 | 458 | 0 | 0 |
Net cash used in investing activities | ||||||||
- | - | - | -68,098 | - | - | - | - | - |
Net cash used in investing activities | ||||||||
-43,573 | -1,577 | -97,825 | - | -1,134 | -4,387 | 3,173 | -33,422 | -621 |
Financing Activities | ||||||||
Proceeds from issuance of debt | ||||||||
- | - | - | 200,000 | 0 | 0 | 100,000 | 0 | 0 |
Proceeds from issuance of debt | ||||||||
400,000 | - | 79,930 | - | - | - | - | - | - |
Gross proceeds from Senior Secured Credit Facility | ||||||||
30,000 | 35,000 | 40,000 | - | 0 | - | - | - | - |
Payments of Senior Secured Credit Facility | ||||||||
30,000 | 35,000 | 40,000 | - | 0 | - | - | - | - |
Debt issuance costs | ||||||||
8,148 | - | 2,072 | 9,220 | 0 | 1,683 | 4,627 | 0 | 0 |
Principal payments of senior debt | ||||||||
200,000 | 46,793 | 53,163 | 5,446 | 0 | - | - | - | - |
Premium paid on redemption of debt | ||||||||
6,718 | - | - | - | - | - | - | - | - |
Payment of withholding taxes on share-based awards | ||||||||
- | - | - | - | - | - | 261 | 89 | 0 |
Contingent consideration and other financing activities | ||||||||
2,972 | 4,548 | 1,329 | 220 | - | - | - | - | - |
Repurchase of 4.5% Convertible Notes | ||||||||
- | - | - | - | - | - | 59,402 | 0 | 11,627 |
Principal payments of real estate borrowings | ||||||||
- | - | - | - | - | 0 | 12,501 | 57,681 | 119 |
Issuance of common shares | ||||||||
- | - | - | - | 35,805 | 0 | 0 | - | - |
Proceeds from Issuance of Common Stock | ||||||||
- | - | - | - | - | - | - | 0 | 42,296 |
Issuance of preferred shares | ||||||||
- | - | - | - | 92,030 | 0 | 0 | - | - |
Other financing activities | ||||||||
- | - | - | - | 648 | - | - | - | - |
Net cash used in financing activities | ||||||||
- | - | - | 185,114 | - | - | - | - | - |
Decrease in cash and cash equivalents | ||||||||
- | - | - | 35,607 | - | - | - | - | - |
Contributions from consolidated joint venture partner | ||||||||
- | - | - | - | - | 13,779 | 0 | - | - |
Distributions to consolidated joint venture partner | ||||||||
- | - | - | - | - | 3,897 | 0 | - | - |
Contributions from consolidated joint venture partner | ||||||||
- | - | - | - | - | - | - | 0 | - |
Distributions to consolidated joint venture partner | ||||||||
- | - | - | - | - | - | - | 0 | - |
Net cash used in financing activities | ||||||||
182,162 | -51,341 | 23,366 | - | 128,483 | 8,199 | 23,209 | -57,770 | 30,550 |
Increase (decrease) in cash and cash equivalents | ||||||||
173,198 | 20,894 | -133,436 | - | 64,912 | -44,501 | 9,025 | -101,630 | 41,736 |
Transfer from assets held for sale to land and other inventories and property and equipment | ||||||||
- | - | 4,051 | - | - | - | - | - | - |
Distribution of land from unconsolidated joint venture | ||||||||
- | - | 19,860 | 13,418 | - | - | - | - | - |
Supplemental cash flow information: | ||||||||
Interest paid, net of capitalized interest | ||||||||
12,656 | 2,098 | 4,846 | -4,683 | - | - | - | - | - |
Income taxes paid | ||||||||
720 | 1,240 | - | - | - | - | - | - | - |
Supplemental non-cash investing activity: | ||||||||
Accrual of contingent consideration as of the acquisition date | ||||||||
1,818 | - | 6,000 | - | - | - | - | - | - |
Transfer from assets held for sale to land and other inventories and property and equipment | ||||||||
- | - | - | - | 13,767 | 0 | 0 | - | - |
Distribution of land from unconsolidated joint venture | ||||||||
- | - | - | - | 0 | - | - | - | - |
Beneficial conversion feature (deemed dividend) | ||||||||
- | - | - | - | 11,894 | 0 | 0 | - | - |
Common stock issued for conversion of preferred stock | ||||||||
- | - | - | - | 92,030 | 0 | 0 | - | - |
Notes, mortgage notes and other debt from the JEN Transaction | ||||||||
- | - | - | - | - | - | - | 14,301 | - |