| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||||||||
Net income | ||||||||||||||||
8,000 | 72,000 | 50,000 | 39,000 | 55,000 | 120,000 | 41,000 | 107,000 | 30,000 | 183,257 | 42,700 | 50,828 | 50,212 | 38,272 | 34,727 | 47,000 | 48,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
Depreciation and amortization | ||||||||||||||||
12,000 | 14,000 | 14,000 | 15,000 | 8,000 | 11,000 | 9,000 | 8,000 | 8,000 | 8,000 | 7,000 | 7,000 | 7,000 | 7,000 | 6,000 | 6,000 | 5,000 |
Amortization of deferred financing costs, contract costs, and other | ||||||||||||||||
4,000 | 3,000 | 2,000 | 1,000 | 4,000 | 3,000 | 1,000 | 2,000 | 1,000 | 1,000 | 1,000 | 2,000 | 1,000 | 2,000 | 1,000 | 1,000 | 1,000 |
Provision for financing receivables losses | ||||||||||||||||
37,000 | 14,000 | 22,000 | 24,000 | 14,000 | 19,000 | 20,000 | 18,000 | 12,000 | 13,000 | 18,000 | 16,000 | 11,000 | 12,000 | 14,000 | 13,000 | 10,000 |
Other (gain) loss, net | ||||||||||||||||
2,000 | 0 | -1,000 | -1,000 | -1,000 | - | - | - | -1,000 | - | - | - | 0 | - | - | - | - |
Share-based compensation | ||||||||||||||||
-2,000 | 4,000 | 6,000 | 7,000 | 5,000 | 3,000 | 5,000 | 5,000 | 3,000 | 2,000 | 5,000 | 5,000 | 3,000 | - | 0 | 0 | 0 |
Deferred income tax (benefit) expense | ||||||||||||||||
-8,000 | 24,000 | -12,000 | -14,000 | 5,000 | 41,000 | -15,000 | 2,000 | -8,000 | -124,000 | -6,000 | -5,000 | 6,000 | 11,000 | 11,000 | -4,000 | 5,000 |
Equity in earnings from unconsolidated affiliates | ||||||||||||||||
3,000 | 0 | 1,000 | 2,000 | 1,000 | - | - | -2,000 | 1,000 | 0 | 1,000 | 0 | 0 | - | - | - | - |
Distributions received from unconsolidated affiliates | ||||||||||||||||
- | - | - | - | - | 0 | 0 | 1,000 | 1,000 | - | - | 0 | 0 | - | - | - | - |
Net changes in assets and liabilities: | ||||||||||||||||
Accounts receivable, net | ||||||||||||||||
-16,000 | 37,000 | -20,000 | 10,000 | -7,000 | 2,000 | 13,000 | 21,000 | 5,000 | 7,000 | -19,000 | 8,000 | -8,000 | 2,000 | 0 | 20,000 | 8,000 |
Timeshare financing receivables, net | ||||||||||||||||
3,000 | 32,000 | 37,000 | 37,000 | 5,000 | 35,000 | 35,000 | 33,000 | 15,000 | 28,000 | 40,000 | 31,000 | 4,000 | 46,000 | 25,000 | 18,000 | 9,000 |
Inventory | ||||||||||||||||
10,000 | -2,000 | -5,000 | 8,000 | 3,000 | -31,000 | 26,000 | -30,000 | 19,000 | -9,000 | -16,000 | -16,000 | -6,000 | -17,000 | 13,000 | -7,000 | 4,000 |
Purchases and development of real estate for future conversion to inventory | ||||||||||||||||
5,000 | 61,000 | 27,000 | 17,000 | 63,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Other assets | ||||||||||||||||
42,000 | -6,000 | -4,000 | -7,000 | 33,000 | -30,000 | 3,000 | 7,000 | 51,000 | -7,000 | -8,000 | -10,000 | 29,000 | -3,000 | -10,000 | -5,000 | 22,000 |
Accounts payable, accrued expenses and other | ||||||||||||||||
-42,000 | -37,000 | 23,000 | 24,000 | -27,000 | -9,000 | 27,000 | 0 | -42,000 | -1,000 | 60,000 | 0 | 36,000 | 11,000 | 6,000 | 30,000 | -19,000 |
Advanced deposits | ||||||||||||||||
2,000 | 3,000 | 4,000 | 2,000 | 5,000 | 1,000 | 5,000 | 3,000 | 5,000 | 2,000 | 2,000 | -7,000 | 4,000 | 1,000 | 0 | 4,000 | 2,000 |
Deferred revenues | ||||||||||||||||
91,000 | 21,000 | 2,000 | 27,000 | 41,000 | -168,000 | 38,000 | -101,000 | 105,000 | -10,000 | -9,000 | -14,000 | 36,000 | -7,000 | -10,000 | -2,000 | 22,000 |
Other | ||||||||||||||||
- | - | - | - | 1,000 | - | - | - | - | - | - | - | - | - | - | - | 5,000 |
Net cash provided by operating activities | ||||||||||||||||
53,000 | -3,000 | 76,000 | 58,000 | 14,000 | 46,000 | -71,000 | -159,000 | 25,000 | 57,000 | 122,000 | 42,000 | 135,000 | 49,000 | 47,000 | 50,000 | 36,000 |
Investing Activities | ||||||||||||||||
Capital expenditures for property and equipment | ||||||||||||||||
3,000 | 12,000 | 8,000 | 11,000 | 6,000 | 15,000 | 9,000 | 6,000 | 14,000 | 10,000 | 10,000 | 7,000 | 8,000 | 10,000 | 2,000 | 5,000 | 9,000 |
Software capitalization costs | ||||||||||||||||
5,000 | 7,000 | 8,000 | 7,000 | 4,000 | 7,000 | 3,000 | 5,000 | 4,000 | 0 | 6,000 | 4,000 | 2,000 | 3,000 | 2,000 | 2,000 | 1,000 |
Return of investment from unconsolidated affiliates | ||||||||||||||||
- | - | - | - | - | 0 | 0 | 2,000 | 9,000 | - | - | 0 | 0 | - | - | - | - |
Investments in unconsolidated affiliates | ||||||||||||||||
- | - | - | - | - | 5,000 | 0 | 0 | 5,000 | 0 | 40,000 | 0 | 0 | - | - | - | - |
Net cash used in investing activities | ||||||||||||||||
-8,000 | -19,000 | -16,000 | -20,000 | -10,000 | -27,000 | -12,000 | -9,000 | -14,000 | -10,000 | -56,000 | -11,000 | -10,000 | -13,000 | -4,000 | -7,000 | -10,000 |
Financing Activities | ||||||||||||||||
Issuance of debt | ||||||||||||||||
495,000 | 30,000 | 45,000 | 215,000 | 195,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Issuance of non-recourse debt | ||||||||||||||||
195,000 | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 350,000 | - | - | - | 0 |
Repayment of debt | ||||||||||||||||
57,000 | 18,000 | 167,000 | 82,000 | 23,000 | 240,000 | 163,000 | 2,000 | 3,000 | 3,000 | 2,000 | 2,000 | 3,000 | - | - | - | 0 |
Repayment of non-recourse debt | ||||||||||||||||
58,000 | 49,000 | 248,000 | 39,000 | 40,000 | 49,000 | 356,000 | 41,000 | 39,000 | 31,000 | 33,000 | 51,000 | 344,000 | 25,000 | 27,000 | 29,000 | 29,000 |
Debt issuance costs | ||||||||||||||||
- | - | - | - | - | 6,000 | 4,000 | 0 | 2,000 | 0 | 0 | 0 | 5,000 | - | - | - | 0 |
Repurchase and retirement of common stock | ||||||||||||||||
10,000 | 0 | 12,000 | 179,000 | 92,000 | 71,000 | 0 | 0 | 112,000 | - | - | 0 | 0 | - | - | - | - |
Payment of withholding taxes on vesting of restricted stock units | ||||||||||||||||
2,000 | 1,000 | 0 | 1,000 | 2,000 | 0 | 3,000 | 0 | 1,000 | - | - | 0 | 0 | - | - | - | - |
Capital contribution | ||||||||||||||||
- | - | - | - | - | 0 | 0 | 0 | 3,000 | - | - | 0 | 0 | - | - | - | - |
Net transfers to Parent | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | -681,000 | 99,000 | 23,000 | -8,000 |
Other financing activity | ||||||||||||||||
-1,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||||||||||
562,000 | -37,000 | -36,000 | -73,000 | 38,000 | -51,000 | 92,000 | 217,000 | -154,000 | -34,000 | -35,000 | -52,000 | -2,000 | 18,000 | -21,000 | -52,000 | -21,000 |
Net increase in cash, cash equivalents and restricted cash | ||||||||||||||||
607,000 | -59,000 | 24,000 | -35,000 | 42,000 | -32,000 | 9,000 | 49,000 | -143,000 | 13,000 | 31,000 | -21,000 | 123,000 | 54,000 | 22,000 | -9,000 | 5,000 |
Non-cash transfer from Inventory to Property and Equipment | ||||||||||||||||
301,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Supplemental Disclosures | ||||||||||||||||
Issuance of other debt | ||||||||||||||||
- | - | 0 | 0 | 23,000 | - | - | - | - | - | - | - | - | - | - | - | - |
Transfer of inventory from Parent | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -6,000 | 15,000 |