Forestar group inc. (FOR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
OPERATING ACTIVITIES
Net income

10,300

16,800

12,700

6,900

12,800

3,900

55,134

10,286

4,580

-15,600

45,226

-2,531

25,245

43,946

10,275

10,254

-4,296

-5,485

-164,331

-34,318

-8,237

-11,906

5,239

14,748

9,007

15,924

12,897

1,198

5,042

13,288

-380

1,471

3,497

-21,694

36,965

-4,326

-1,704

Adjustments:
Depreciation and amortization

1,500

1,900

1,900

1,800

1,600

1,400

1,326

1,278

1,296

1,300

1,259

1,377

1,485

1,562

2,617

2,483

4,785

8,305

13,420

12,035

11,325

12,606

11,182

10,488

7,439

8,282

8,121

7,285

6,292

5,974

8,030

2,558

2,364

3,467

2,471

2,570

2,294

Deferred income taxes

3,800

5,600

3,600

2,000

2,500

1,400

-24,083

-56

-661

1,800

-9

-16

-29

1,344

-29

45

0

80,367

-64,209

20,744

4,359

12,294

-18,317

4,692

2,976

1,854

2,043

843

649

-3,535

-62

-1,445

-1,464

-16,164

-4,013

-5,504

-1,496

Change in unrecognized tax benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-6,326

38

37

37

38

38

38

-291

49

48

47

Equity in earnings of unconsolidated ventures

300

500

0

-100

0

600

2,271

1,000

1,529

7,000

1,764

2,747

6,362

2,251

3,637

188

47

4,470

2,909

5,584

3,045

4,720

2,016

958

991

2,133

3,125

2,566

913

12,297

680

768

724

-30,841

648

402

582

Distributions of earnings of unconsolidated ventures

0

0

0

0

0

4,900

3,462

38

0

8,300

2,709

7,062

4,974

2,926

2,726

763

1,304

5,398

2,254

2,244

2,845

2,904

1,049

750

1,018

5,491

659

210

0

-

-

-

-

1,290

1,205

1,067

3,035

Distributions of earnings to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

632

-

-408

-1,465

-1,026

Stock-based compensation expense

800

500

200

900

100

100

94

112

94

4,100

308

1,416

843

1,372

949

336

1,380

-1,285

2,204

-15

3,342

-1,106

991

3,219

313

1,442

3,492

1,460

10,415

3,438

6,327

-67

5,231

6,668

-3,553

-148

4,100

Real estate cost of sales

-

-

-

-

-

-

-

10,809

15,309

-

22,109

16,198

12,240

41,595

22,981

20,995

12,841

54,158

9,424

14,267

9,884

25,414

11,275

23,164

24,812

33,575

18,116

11,863

41,345

13,362

-725

21,239

5,484

16,988

6,624

5,230

5,295

Dry hole and unproved leasehold impairment costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,917

16,059

30,577

86

17,987

4,537

4,623

2,381

3,631

910

554

742

-

-

-

-

-

-

-

-

Real estate development and acquisition expenditures, net

-

-

-

-

-

-

-

111,770

149,052

-

12,732

11,883

13,740

24,627

23,486

18,272

14,794

26,933

23,702

22,584

34,769

31,830

16,306

31,523

35,035

40,847

30,990

17,204

17,568

24,813

14,622

15,755

36,750

116,527

-73,059

9,958

13,571

Reimbursements from utility and improvement districts

-

-

-

-

-

-

-

2,212

0

-

5,170

3,491

1,180

13,409

13,392

612

-306

-6,891

-1,131

-3,024

-4,130

-57,493

-1,936

-5,082

-1,536

-5,405

-1,659

-3,090

209

-5,602

-1,985

-1,045

108

-12,731

4,060

-1,754

-36

Other changes in real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-807

-1,689

-652

-

-1,296

-4

-140

-549

-102

-130

-603

521

-242

24

-19

Cost of timber cut

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

332

282

242

Changes in deferred income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,039

-1,273

132

-

900

3,758

-2,429

-143

937

-2,886

1,022

313

602

-864

-83

Real estate and land option charges

-

300

-

-

-

400

300

0

0

9,300

0

0

37,900

3,874

7,627

49,438

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

0

0

0

-600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of assets

200

-100

600

1,500

0

900

23,736

1,318

2,746

0

9,393

29,606

74,215

44,969

1,456

104,054

2,604

614

-1,749

838

1,176

10,061

11,110

16,867

0

-

-

-

-

477

10,196

3,401

11,909

-

-

-

-

Other

-

-

-

-

-

-

2,073

415

-1,588

3,146

-211

-1,190

-945

-1,720

-237

-1,582

-1,820

-2,290

-57

-603

-1,730

-4,284

-459

-529

-615

-2,237

58

-83

-129

-14

493

-271

-187

-188

41

69

5

Changes in operating assets and liabilities:
Increase in real estate

208,900

-38,200

1,083,200

-905,000

548,700

-195,200

676,400

-447,500

132,200

41,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in other assets

3,800

700

-4,400

2,500

300

1,300

-1,300

-900

3,800

-700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes and accounts receivables

-

-

-

-

-

-

-

-1,547

-1,197

-

4,923

-2,837

1,925

7,248

-1,885

-4,870

-13,979

10,373

-1,251

-1,128

-7,016

-17,004

-509

14,242

-7,433

3,320

-908

2,095

-643

487

403

-911

1,153

-895

66

230

-760

Prepaid expenses, land purchase contract deposits and other

-

-

-

-

-

-

-

588

3,614

-

161

-380

647

1,669

-456

-1,740

660

80

-604

193

-2,695

2,052

-481

-2,961

-790

422

1,509

-1,162

26

3,860

-549

-548

-203

-1,117

342

317

-78

(Decrease) increase in accounts payable and other accrued liabilities

-4,400

3,400

11,700

17,600

9,500

3,100

9,092

9,673

-365

2,000

-1,060

381

-8,556

-3,453

2,513

-9,367

-6,702

-9,568

15,619

-2,275

-15,644

-1,404

5,907

5,948

-15,104

9,711

4,586

1,249

-17,103

-2,979

3,982

4,294

-7,824

-5,413

6,066

5,357

-1,461

(Decrease) increase in earnest money deposits on sales contracts

-

-200

-

-

-

18,800

7,817

10,531

19,152

0

-

-752

2,792

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in income taxes receivable

-1,300

600

-100

800

-2,000

100

-2,067

337

-570

17,100

-32,577

4,193

15,433

12,201

-19,840

11,131

-2,303

-8,178

52

-1,838

5,411

-7,503

415

-2,124

-2,167

5,446

-1,569

-1,420

833

-631

-1,205

-283

-5,795

-13,921

23,213

-1,523

-2,560

Net cash used in operating activities

-112,200

-11,600

58,900

-166,600

-119,400

-164,100

-100,789

-68,212

-113,999

-22,300

12,351

-8,978

-2,379

37,342

17,268

7,530

5,009

50,166

2,473

1,253

-18,766

70,696

17,391

13,452

5,543

43,694

10,210

1,578

33,295

-2,868

-8,530

36,694

-47,514

7,036

66,746

-27,524

-6,406

INVESTING ACTIVITIES
Expenditures for property, equipment, software and other

200

0

-

100

700

100

-

100

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of oil and gas properties, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Return of investment in unconsolidated ventures

600

1,800

0

0

0

100

332

281

187

7,000

1,546

1,395

1,511

1,752

2,034

347

1,567

4,385

5,823

1,305

655

196

1,446

0

155

2,223

-99

305

1,065

11,669

249

470

266

2,379

436

243

9

Property, equipment, software and other

-

-

-

-

-

-

52

12

36

54

5

24

17

236

263

2,138

3,501

3,808

3,911

4,162

2,809

2,815

3,760

5,124

4,699

5,587

2,884

2,442

915

1,158

236

478

863

578

567

392

507

Oil and gas properties and equipment

-

-

-

-

-

-

0

0

0

0

0

0

2,400

0

12

141

426

2,674

6,757

16,568

23,718

35,484

21,029

25,275

19,357

39,587

24,196

19,306

12,980

18,622

530

296

1,968

-

-

-

-

Acquisition of partner's interest in unconsolidated multifamily venture, net of cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

37

745

-

-

-

-

-

-

-

-

Payments to Acquire Equity Method Investments

-

-

-

-

-

-

0

0

0

100

845

1,702

1,915

474

957

1,639

3,019

2,441

13,772

9,305

831

9,676

586

137

4,293

-

-

-

-

-

-

-

117

657

215

462

673

Proceeds from sale of assets

0

1,300

0

0

0

0

29,745

0

228,555

-46

135

52,501

77,510

108,498

871

261,652

56,828

4,689

10,587

984

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of venture interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

32,095

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

84

-74

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

400

3,100

0

-100

-700

0

30,025

269

228,706

6,900

831

52,170

74,689

109,540

1,673

258,081

51,449

151

-8,030

-27,746

-24,703

-46,802

-35,221

-19,514

-28,194

-41,611

-27,251

-21,564

-13,501

-9,545

-123,370

-1,617

29,413

254

-1,648

-2,330

-1,171

FINANCING ACTIVITIES
Payments of debt

-

-

-

-

-

-

-41

441

100

10,000

-

-

-

3,505

4,233

296,306

11,185

50,693

2,602

2,462

2,463

3,013

2,815

203,942

15,711

9,161

3,525

2,642

90,748

27,852

10,327

8,633

27,414

18,649

67,707

22,607

14,436

Additions to debt

-

-

-

-

-

-

-50

43

207

1,200

1,019

466

304

435

1,287

155

1,307

4,358

2,089

1,897

3,119

5,424

6,786

7,775

2,608

5,010

6,280

4,909

27,712

44,713

111,535

13,702

33,692

16,539

30,579

52,832

23,447

Deferred financing fees

4,400

400

0

6,900

0

0

2,300

-100

100

100

-

-

-

-

-

-

-

-

-

94

6

103

46

3,068

0

85

160

178

15

674

4,866

312

31

4

2,367

1,094

285

Increase (Decrease) in Restricted Cash

-

-

-

-

-

-

-

-13

-4

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to noncontrolling interests, net

0

400

0

300

3,100

500

883

217

300

1,800

300

100

0

201

1,270

937

171

-2

16

349

338

2,076

172

400

498

5,593

160

592

809

2,369

-293

1,150

40

5,122

1

0

1

Cash paid for shares withheld for taxes

0

-200

0

0

0

-100

0

0

0

-12,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible senior notes, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

120,795

-

-

-

-

-

-

-

-

Exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14

-

443

0

754

294

167

1,112

533

-110

87

44

1,138

119

4

802

365

Purchase of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,971

0

0

0

0

-

-

-

-

-

-

-

-

Payroll taxes on restricted stock and stock options

-

-

-

-

-

-

-

0

0

-

0

0

980

1

16

0

205

40

-1

0

723

-

52

93

879

9

101

3

1,024

-203

20

3

1,148

77

74

26

1,190

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32

-

0

54

29

Excess income tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-

124

32

20

1

171

-135

54

-7

3

-20

390

-220

220

0

-110

Net cash provided by financing activities

176,700

-1,000

100,700

307,800

31,900

-600

-3,209

-702

-89

-23,500

787

766

-676

-2,942

-4,232

-300,836

-10,254

-46,515

-564

-1,008

-396

-24,373

4,268

42,251

-21,677

135,455

2,672

2,471

56,498

12,495

96,705

3,596

6,619

-18,128

-41,692

29,961

7,819

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-72,400

-68,700

113,100

-38,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-9,500

-

-

-

-164,700

-

-68,645

114,618

-

13,969

43,958

71,634

143,940

14,709

-35,225

46,204

3,802

-6,121

-27,501

-43,865

-479

-13,562

36,189

-44,328

137,538

-14,369

-17,515

76,292

82

-35,195

38,673

-11,482

-10,838

23,406

107

242