| Sep'19 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||
Net income | |||||||||
36,300 | 52,300 | 60,179 | -212,371 | 17,088 | 35,061 | 17,876 | 9,241 | 5,834 | 61,574 |
Adjustments: | |||||||||
Depreciation and amortization | |||||||||
6,700 | 5,500 | 11,447 | 45,085 | 41,715 | 29,980 | 18,926 | 10,802 | 10,558 | 9,786 |
Deferred income taxes | |||||||||
9,500 | -1,700 | 1,360 | 41,261 | 1,645 | 5,389 | -6,506 | -27,177 | -6,527 | -22,734 |
Change in unrecognized tax benefits | |||||||||
- | - | - | - | - | -6,251 | 151 | -147 | 133 | 6,162 |
Equity in earnings of unconsolidated ventures | |||||||||
500 | 17,800 | 6,123 | 16,008 | 8,685 | 8,737 | 14,469 | -29,209 | 4,701 | -7,771 |
Distributions of earnings of unconsolidated ventures | |||||||||
4,900 | 23,000 | 7,719 | 12,741 | 5,721 | 6,360 | 3,251 | 6,597 | 1,609 | 259 |
Proceeds from consolidated ventures sale of assets, net | |||||||||
- | - | - | - | - | - | 24,294 | 0 | - | - |
Distributions of earnings to noncontrolling interests | |||||||||
- | - | - | - | - | - | - | - | 1,881 | -3,325 |
Stock-based compensation expense | |||||||||
1,300 | 6,600 | 4,037 | 4,246 | 3,417 | 16,809 | 14,929 | 7,067 | 11,596 | 11,998 |
Real estate cost of sales | |||||||||
- | - | 98,412 | 87,733 | 84,665 | 104,899 | 39,360 | 34,137 | 18,261 | 25,858 |
Dry hole and unproved leasehold impairment costs | |||||||||
- | - | - | 67,639 | 29,528 | 5,837 | 1,069 | 0 | - | - |
Cost of assets sold | |||||||||
- | - | - | - | - | - | - | 24,931 | 9,503 | 49,804 |
Proceeds reinvested through qualified intermediary | |||||||||
- | - | - | - | - | - | - | - | 23,045 | - |
Real estate development and acquisition expenditures, net | |||||||||
- | - | 81,179 | 107,988 | 114,694 | 106,609 | 91,940 | 66,997 | 16,660 | 33,787 |
Reimbursements from utility and improvement districts | |||||||||
- | - | 27,107 | -15,176 | -66,047 | -9,945 | -8,524 | -10,461 | 4,752 | -24,945 |
Acquisition of loan secured by real estate | |||||||||
- | - | - | - | - | - | - | 21,137 | - | - |
Other changes in real estate | |||||||||
- | - | - | - | - | - | -1,384 | 284 | -179 | -384 |
Gain on termination of timber lease | |||||||||
- | - | - | - | - | - | - | - | - | 195 |
Cost of timber cut | |||||||||
- | - | - | - | - | - | - | - | - | 3,104 |
Changes in deferred income | |||||||||
- | - | - | - | - | - | -1,070 | -32 | 1,307 | 2,673 |
Real estate and land option charges | |||||||||
1,300 | 47,200 | 60,939 | 108,184 | 15,934 | 1,790 | 0 | 11,525 | 9,042 | 7,931 |
Loss on extinguishment of debt | |||||||||
0 | -600 | -35,864 | 0 | 0 | - | - | - | - | - |
Gain on sale of assets | |||||||||
3,000 | 113,400 | 153,083 | 879 | 38,038 | 5,161 | 25,983 | 134 | 394 | - |
Other | |||||||||
100 | 800 | -5,359 | -4,680 | -5,887 | -2,391 | 21 | -73 | -16 | 528 |
Changes in operating assets and liabilities: | |||||||||
Increase in real estate | |||||||||
531,700 | 17,700 | - | - | - | - | - | - | - | - |
Increase in other assets | |||||||||
-300 | -2,300 | - | - | - | - | - | - | - | - |
Notes and accounts receivables | |||||||||
- | - | -13,486 | 978 | -10,704 | 3,864 | 1,132 | -1,359 | -104 | 747 |
Proceeds due from qualified intermediary | |||||||||
- | - | - | - | - | - | - | - | 1,347 | - |
Prepaid expenses, land purchase contract deposits and other | |||||||||
- | - | 133 | -3,026 | -2,180 | 795 | 2,560 | -536 | -1,154 | -1,259 |
(Decrease) increase in accounts payable and other accrued liabilities | |||||||||
41,900 | -7,800 | -17,009 | -11,868 | -4,653 | -1,557 | -2,527 | 4,549 | -6,394 | -8,490 |
(Decrease) increase in earnest money deposits on sales contracts | |||||||||
40,500 | 600 | 298 | - | - | - | - | - | - | - |
Decrease in income taxes receivable | |||||||||
-1,200 | -4,200 | 1,189 | -4,553 | -11,379 | 3,290 | -7,914 | 5,209 | 484 | 2,708 |
Net cash used in operating activities | |||||||||
-391,200 | -15,300 | 67,149 | 35,126 | 107,082 | 88,777 | -22,218 | 39,852 | 13,551 | 142,120 |
INVESTING ACTIVITIES | |||||||||
Return of investment in unconsolidated ventures | |||||||||
100 | 11,400 | 5,700 | 12,168 | 1,797 | 3,494 | 12,654 | 3,067 | 14,849 | 3,797 |
Property, equipment, software and other | |||||||||
900 | 100 | 6,138 | 14,690 | 16,398 | 11,828 | 2,735 | 2,044 | 2,701 | 7,295 |
Oil and gas properties and equipment | |||||||||
0 | 2,400 | 579 | 49,717 | 101,145 | 96,069 | 21,416 | 4,304 | 1 | - |
Acquisition of partner's interest in unconsolidated multifamily venture, net of cash | |||||||||
- | - | - | - | 20,155 | - | - | - | - | - |
Acquisition of oil and gas properties | |||||||||
- | - | - | - | 1,100 | 0 | 0 | - | - | - |
Payments to Acquire Equity Method Investments | |||||||||
0 | 4,500 | 6,089 | 26,349 | 14,692 | 857 | 2,318 | 2,007 | 3,291 | 2,875 |
Proceeds from sale of assets | |||||||||
0 | 130,100 | 427,849 | 18,260 | 21,962 | 1,333 | 0 | - | - | - |
Business acquisition, net of cash acquired | |||||||||
- | - | - | - | - | - | 152,915 | 0 | 38,055 | - |
Proceeds from sale of multifamily property | |||||||||
- | - | - | - | - | - | 29,474 | 0 | - | - |
Proceeds from sale of venture interest | |||||||||
- | - | - | - | - | - | 32,095 | 0 | - | - |
Other | |||||||||
- | - | - | - | - | - | -42 | -393 | - | - |
Proceeds from sale of property and equipment | |||||||||
- | - | - | - | - | - | - | - | 2,602 | - |
Net cash provided by (used in) investing activities | |||||||||
-800 | 134,500 | 420,743 | -60,328 | -129,731 | -103,927 | -105,119 | -4,895 | -26,597 | -6,373 |
FINANCING ACTIVITIES | |||||||||
Proceeds from Issuance of Common Stock | |||||||||
100,700 | 0 | - | - | - | - | - | - | - | - |
Payments of debt | |||||||||
85,000 | 10,000 | 315,229 | 58,220 | 225,481 | 106,076 | 74,226 | 123,399 | 63,420 | 164,612 |
Additions to debt | |||||||||
435,000 | 3,000 | 3,184 | 11,463 | 22,593 | 43,911 | 203,642 | 123,397 | 81,590 | 43,836 |
Deferred financing fees | |||||||||
6,900 | 300 | 0 | 295 | 3,217 | 438 | 5,883 | 3,750 | 6,304 | 3,209 |
Increase (Decrease) in Restricted Cash | |||||||||
- | - | 0 | 0 | - | - | - | - | - | - |
Distributions to noncontrolling interests, net | |||||||||
3,900 | 2,100 | 2,579 | 701 | 3,146 | 7,154 | 3,266 | 5,124 | 809 | 176 |
Cash paid for shares withheld for taxes | |||||||||
-100 | -13,100 | 0 | 0 | - | 144,998 | 0 | 0 | - | - |
Proceeds from issuance of convertible senior notes, net | |||||||||
- | - | - | - | - | 120,795 | 0 | 0 | - | - |
Proceeds from issuance of senior secured notes, net | |||||||||
- | - | - | - | 241,947 | 0 | 0 | - | - | - |
Exercise of stock options | |||||||||
- | - | 0 | 0 | - | 2,106 | 1,159 | 1,290 | 1,199 | 3,547 |
Purchase of noncontrolling interests | |||||||||
- | - | - | - | 7,971 | 0 | 0 | - | - | - |
Repurchases of common stock | |||||||||
- | - | 3,537 | 0 | 24,595 | 0 | 1,409 | 12,977 | 15,178 | - |
Payroll taxes on restricted stock and stock options | |||||||||
- | - | 222 | 762 | - | 1,137 | 968 | 1,367 | 61 | 2,347 |
Other | |||||||||
- | - | 119 | 32 | 339 | - | - | - | 314 | 109 |
Excess income tax benefit from share-based compensation | |||||||||
- | - | - | - | - | 91 | 366 | -110 | 30 | 29 |
Net cash provided by financing activities | |||||||||
439,800 | -22,500 | -318,264 | -48,483 | 469 | 197,096 | 119,415 | -22,040 | -2,639 | -122,823 |
Net increase (decrease) in cash and cash equivalents | |||||||||
47,800 | 96,700 | - | - | - | - | - | - | - | - |
Net decrease in cash and cash equivalents | |||||||||
- | - | 169,628 | -73,685 | -22,180 | 181,946 | -7,922 | 12,917 | -15,685 | 12,924 |
Interest paid, net of amounts capitalized | |||||||||
0 | 3,300 | 14,790 | 27,330 | 22,936 | 13,818 | 12,820 | 14,166 | 11,889 | 16,951 |
Income taxes paid (refunded), net | |||||||||
-1,700 | -2,700 | 10,205 | -4,077 | 18,322 | 4,955 | 21,678 | 25,335 | 8,423 | 48,299 |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION: | |||||||||
Capitalized interest | |||||||||
- | - | 2,838 | 2,938 | 1,154 | 816 | 721 | 625 | 75 | 1,021 |
Noncontrolling interests | |||||||||
- | - | - | - | 2,904 | 2,907 | 1,032 | 8 | - | - |
SUPPLEMENTAL DISCLOSURE OF BUSINESS ACQUISITIONS INFORMATION: | |||||||||
Proceeds reinvested through qualified intermediary under IRC Section 1031 | |||||||||
- | - | - | - | - | - | - | - | 23,045 | - |
Proceeds provided by financing activities | |||||||||
- | - | - | - | - | - | - | - | 38,055 | - |
Total business acquisitions | |||||||||
- | - | - | - | - | - | - | - | 61,100 | - |