| 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 | ||||||||||||||||
169,000 | 216,000 | 264,000 | 255,000 | 323,000 | 298,000 | 361,257 | 362,958 | 306,787 | 327,000 | 182,015 | 174,041 | 170,212 | 168,000 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
Depreciation and amortization | ||||||||||||||||
55,000 | 51,000 | 48,000 | 43,000 | 36,000 | 36,000 | 33,000 | 31,000 | 30,000 | 29,000 | 28,000 | 27,000 | 26,000 | 24,000 | 0 | 0 | 0 |
Amortization of deferred financing costs, contract costs, and other | ||||||||||||||||
10,000 | 10,000 | 10,000 | 9,000 | 10,000 | 7,000 | 5,000 | 5,000 | 5,000 | 5,000 | 6,000 | 6,000 | 5,000 | 5,000 | 0 | 0 | 0 |
Provision for financing receivables losses | ||||||||||||||||
97,000 | 74,000 | 79,000 | 77,000 | 71,000 | 69,000 | 63,000 | 61,000 | 59,000 | 58,000 | 57,000 | 53,000 | 50,000 | 49,000 | 0 | 0 | 0 |
Other (gain) loss, net | ||||||||||||||||
0 | -3,000 | 0 | 0 | 0 | - | - | - | 0 | - | - | - | 0 | - | - | - | - |
Share-based compensation | ||||||||||||||||
15,000 | 22,000 | 21,000 | 20,000 | 18,000 | 16,000 | 15,000 | 15,000 | 15,000 | 15,000 | 0 | 0 | 3,000 | - | 0 | 0 | 0 |
Deferred income tax (benefit) expense | ||||||||||||||||
-10,000 | 3,000 | 20,000 | 17,000 | 33,000 | 20,000 | -145,000 | -136,000 | -143,000 | -129,000 | 6,000 | 23,000 | 24,000 | 23,000 | 0 | 0 | 0 |
Equity in earnings from unconsolidated affiliates | ||||||||||||||||
6,000 | 4,000 | 0 | 0 | 0 | - | - | 0 | 2,000 | 1,000 | 0 | 0 | 0 | - | - | - | - |
Distributions received from unconsolidated affiliates | ||||||||||||||||
- | - | - | - | - | 2,000 | 0 | 0 | 0 | - | - | 0 | 0 | - | - | - | - |
Net changes in assets and liabilities: | ||||||||||||||||
Accounts receivable, net | ||||||||||||||||
11,000 | 20,000 | -15,000 | 18,000 | 29,000 | 41,000 | 46,000 | 14,000 | 1,000 | -12,000 | -17,000 | 2,000 | 14,000 | 30,000 | 0 | 0 | 0 |
Timeshare financing receivables, net | ||||||||||||||||
109,000 | 111,000 | 114,000 | 112,000 | 108,000 | 118,000 | 111,000 | 116,000 | 114,000 | 103,000 | 121,000 | 106,000 | 93,000 | 98,000 | 0 | 0 | 0 |
Inventory | ||||||||||||||||
11,000 | 4,000 | -25,000 | 6,000 | -32,000 | -16,000 | 6,000 | -36,000 | -22,000 | -47,000 | -55,000 | -26,000 | -17,000 | -7,000 | 0 | 0 | 0 |
Purchases and development of real estate for future conversion to inventory | ||||||||||||||||
110,000 | 168,000 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Other assets | ||||||||||||||||
25,000 | 16,000 | -8,000 | -1,000 | 13,000 | 31,000 | 54,000 | 43,000 | 26,000 | 4,000 | 8,000 | 6,000 | 11,000 | 4,000 | 0 | 0 | 0 |
Accounts payable, accrued expenses and other | ||||||||||||||||
-32,000 | -17,000 | 11,000 | 15,000 | -9,000 | -24,000 | -16,000 | 17,000 | 17,000 | 95,000 | 107,000 | 53,000 | 83,000 | 28,000 | 0 | 0 | 0 |
Advanced deposits | ||||||||||||||||
11,000 | 14,000 | 12,000 | 13,000 | 14,000 | 14,000 | 15,000 | 12,000 | 2,000 | 1,000 | 0 | -2,000 | 9,000 | 7,000 | 0 | 0 | 0 |
Deferred revenues | ||||||||||||||||
141,000 | 91,000 | -98,000 | -62,000 | -190,000 | -126,000 | 32,000 | -15,000 | 72,000 | 3,000 | 6,000 | 5,000 | 17,000 | 3,000 | 0 | 0 | 0 |
Other | ||||||||||||||||
- | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | 0 |
Net cash provided by operating activities | ||||||||||||||||
184,000 | 145,000 | 194,000 | 47,000 | -170,000 | -159,000 | -148,000 | 45,000 | 246,000 | 356,000 | 348,000 | 273,000 | 281,000 | 182,000 | 0 | 0 | 0 |
Investing Activities | ||||||||||||||||
Capital expenditures for property and equipment | ||||||||||||||||
34,000 | 37,000 | 40,000 | 41,000 | 36,000 | 44,000 | 39,000 | 40,000 | 41,000 | 35,000 | 35,000 | 27,000 | 25,000 | 26,000 | 0 | 0 | 0 |
Software capitalization costs | ||||||||||||||||
27,000 | 26,000 | 26,000 | 21,000 | 19,000 | 19,000 | 12,000 | 15,000 | 14,000 | 12,000 | 15,000 | 11,000 | 9,000 | 8,000 | 0 | 0 | 0 |
Return of investment from unconsolidated affiliates | ||||||||||||||||
- | - | - | - | - | 11,000 | 0 | 0 | 0 | - | - | 0 | 0 | - | - | - | - |
Investments in unconsolidated affiliates | ||||||||||||||||
- | - | - | - | - | 10,000 | 5,000 | 45,000 | 45,000 | 40,000 | 0 | 0 | 0 | - | - | - | - |
Net cash used in investing activities | ||||||||||||||||
-63,000 | -65,000 | -73,000 | -69,000 | -58,000 | -62,000 | -45,000 | -89,000 | -91,000 | -87,000 | -90,000 | -38,000 | -34,000 | -34,000 | 0 | 0 | 0 |
Financing Activities | ||||||||||||||||
Issuance of debt | ||||||||||||||||
785,000 | 485,000 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Issuance of non-recourse debt | ||||||||||||||||
0 | - | - | - | - | - | - | - | - | 350,000 | 0 | 0 | 0 | - | - | - | 0 |
Repayment of debt | ||||||||||||||||
324,000 | 290,000 | 512,000 | 508,000 | 428,000 | 408,000 | 171,000 | 10,000 | 10,000 | 10,000 | 0 | 0 | 0 | - | - | - | 0 |
Repayment of non-recourse debt | ||||||||||||||||
394,000 | 376,000 | 376,000 | 484,000 | 486,000 | 485,000 | 467,000 | 144,000 | 154,000 | 459,000 | 453,000 | 447,000 | 425,000 | 110,000 | 0 | 0 | 0 |
Debt issuance costs | ||||||||||||||||
- | - | - | - | - | 12,000 | 6,000 | 2,000 | 2,000 | 5,000 | 0 | 0 | 0 | - | - | - | 0 |
Repurchase and retirement of common stock | ||||||||||||||||
201,000 | 283,000 | 354,000 | 342,000 | 163,000 | 183,000 | 0 | 0 | 0 | - | - | 0 | 0 | - | - | - | - |
Payment of withholding taxes on vesting of restricted stock units | ||||||||||||||||
4,000 | 4,000 | 3,000 | 6,000 | 5,000 | 4,000 | 0 | 0 | 0 | - | - | 0 | 0 | - | - | - | - |
Capital contribution | ||||||||||||||||
- | - | - | - | - | 3,000 | 0 | 0 | 0 | - | - | 0 | 0 | - | - | - | - |
Net transfers to Parent | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | -567,000 | 0 | 0 | 0 |
Other financing activity | ||||||||||||||||
0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||||||||||
416,000 | -108,000 | -122,000 | 6,000 | 296,000 | 104,000 | 121,000 | -6,000 | -275,000 | -123,000 | -71,000 | -57,000 | -57,000 | -76,000 | 0 | 0 | 0 |
Net increase in cash, cash equivalents and restricted cash | ||||||||||||||||
537,000 | -28,000 | -1,000 | -16,000 | 68,000 | -117,000 | -72,000 | -50,000 | -120,000 | 146,000 | 187,000 | 178,000 | 190,000 | 72,000 | 0 | 0 | 0 |
Non-cash transfer from Inventory to Property and Equipment | ||||||||||||||||
0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Supplemental Disclosures | ||||||||||||||||
Issuance of other debt | ||||||||||||||||
- | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Transfer of inventory from Parent | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 |