Hovnanian enterprises inc (HOVNP)
CashFlow / Yearly
Oct'19Oct'18Oct'17Oct'16Oct'15Oct'14Oct'13Oct'12Oct'11Oct'10Oct'09
Cash flows from operating activities:
Net (loss)

-42,117

4,520

-332,193

-

-

-

-

-

-

-

-

Net (loss)

-

-

-

-2,819

-16,100

307,144

31,295

-66,197

-286,087

2,588

-716,712

Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:
Depreciation

4,172

3,156

4,249

3,565

3,388

3,417

4,712

6,223

9,340

12,576

18,527

Compensation from stock options and awards

721

3,669

557

2,921

8,816

10,279

6,842

6,453

6,219

8,706

13,218

Stock option cancellations

-

-

-

-

-

-

-

-

-

-

15,687

Amortization of bond discounts, premiums and deferred financing costs

8,128

8,822

13,875

12,830

11,687

10,320

7,843

7,436

6,047

5,051

15,479

Gain on sale and retirement of property and assets

25

3,619

166

632

1,119

483

4,696

230

266

69

-487

Income from unconsolidated joint ventures

28,932

24,033

-7,047

-4,346

4,169

7,897

12,040

5,401

-8,958

956

-46,041

Distributions of earnings from unconsolidated joint ventures

29,919

-

1,864

1,002

8,438

6,044

2,340

1,790

1,583

2,251

4,093

Gain on extinguishment of debt

-42,436

-7,536

-34,854

-3,200

0

-1,155

-760

-29,066

7,528

25,047

410,185

Noncontrolling interest in consolidated joint venture

-4

-

-

-

-

-

-

-

-

-

-

Expenses related to the debt for debt exchange

-

-

-

-

-

-

-

4,694

-

-

-

Inventory impairment and land option write-offs

6,288

3,501

17,813

33,353

12,044

5,224

4,965

12,530

101,749

135,699

659,475

Deferred income tax provision

-

-

285,578

6,851

-4,691

-287,740

-

-

-

-

-

(Increase) decrease in assets:
Origination of mortgage loans

1,089,825

1,069,519

1,045,991

1,274,284

1,042,407

807,411

-

-

-

-

-

Sale of mortgage loans

1,054,535

1,071,250

1,078,649

-

-

-

-

-

-

-

-

Sale of mortgage loans

-

-

-

-1,239,521

-1,007,425

-825,026

-4,071

44,852

-14,154

16,780

-21,056

Receivables, prepaids, deposits and other assets

15,911

-20,669

-5,249

-22,905

-10,855

48,908

-52,940

-3,680

-59,686

-40,400

74,293

Inventories

220,608

58,801

-255,444

-328,141

312,312

270,770

111,770

-8,430

88,385

27,726

-354,676

Increase (decrease) in liabilities:
State and federal income tax assets

-

-

-

-

-

-

-

-

-

-

-126,826

State income tax payable

-1,033

1,107

282

-205

-1,045

-104

-3,581

-34,947

23,919

-44,444

62,354

Customers’ deposits

5,786

-3,686

-3,657

-6,789

9,249

4,850

6,273

5,903

7,150

-9,291

-9,865

Accounts payable, accrued interest and other accrued liabilities

-2,665

-31,394

-21,876

13,090

-10,594

59,269

19,314

-1,576

-63,954

-50,471

-156,592

Net cash provided by operating activities

-

-

-

-

-

-190,585

9,268

-66,998

-207,415

-

-

Net cash provided by (used in) operating activities

-249,127

-66,822

301,578

386,996

-320,535

-

-

-

-

32,487

-29,728

Cash flows from investing activities:
Proceeds from sale of property and assets

29

38,303

270

764

1,573

515

7,369

3,206

1,341

474

1,069

Purchase of property, equipment and other fixed assets and acquisitions

4,005

5,193

6,478

8,007

2,054

3,423

1,558

5,059

826

2,456

750

Increase (decrease) in restricted cash

-

-

-

-

-

-

-4,575

-

-

-

-

Investments in and advances to unconsolidated joint ventures

13,256

26,271

36,803

49,905

18,707

21,699

4,907

4,743

4,071

5,262

32,185

Distributions of capital from unconsolidated joint ventures

8,925

28,662

13,304

5,264

17,112

11,107

24,806

5,096

4,751

-

-

Net cash used in investing activities

-

-

-

-

-

-14,155

30,285

-1,500

1,195

-

-

Distributions of capital from unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

7,228

11,959

Net cash (used in) provided by investing activities

-8,307

35,501

-29,707

-51,884

2,472

-

-

-

-

-16

-19,907

Cash flows from financing activities:
Proceeds from mortgages and notes

318,462

181,101

199,275

211,209

180,284

152,906

109,209

16,240

16,614

9,125

-

Payments related to mortgages and notes

209,445

162,192

218,468

272,220

140,901

112,136

76,142

25,605

14,247

5,662

2,368

Proceeds from model sale leaseback financing programs

33,188

22,749

10,270

24,297

43,181

42,402

21,948

34,389

-

-

-

Payments related to model sale leaseback financing programs

-25,791

-30,123

-28,798

41,435

20,197

23,188

9,193

1,444

-

-

-

Proceeds from land bank financing programs

104,961

18,827

29,190

174,211

16,985

24,696

36,233

50,927

-

-

-

Payments related to land bank financing programs

33,902

38,991

71,757

108,577

24,330

42,002

39,669

6,081

-

-

-

Proceeds from partner contributions to consolidated joint venture

683

-

-

-

-

-

-

-

-

-

-

Net borrowings from senior secured revolving credit facility

-

-

-

-

47,000

0

-

-

-

-

-

Net proceeds from tangible equity units

-

-

-

-

-

-

-

-

83,707

-

-

Net proceeds from Class A Common Stock

-

-

-

-

-

-

-

47,324

54,899

-

-

Net borrowings (payments) related to lines of credit

-

-

-

-

31,956

-14,744

-15,822

57,756

-23,914

17,786

-28,934

Proceeds from senior notes

-

-

-

-

-

-

41,581

-

151,220

-

-

Payments related to senior secured debt

-

-

-

-

65,053

28,553

40,424

-

-

-

-

Proceeds from senior unsecured term loan facility

-

-

-

-

250,000

-

-

100,000

-

-

-

Proceeds from senior secured notes, net of discount

-

-

-

-

0

0

-

797,000

12,660

-

752,046

Deferred financing costs from land bank financing program and note issuances

16,748

8,035

14,556

11,469

9,015

11,947

5,071

19,381

5,396

-

-

Deferred financing cost from land banking financing program and note issuances

-

-

-

-

-

-

-

-

-

1,656

-

Principal payments and debt repurchases

-

-

-

-

-

-

6,231

941,158

185,763

111,576

1,092,473

Payments related to the debt for debt exchange

-

-

-

-

-

-

-

18,874

-

-

-

Purchase of treasury stock

-

-

-

-

-

-

-

103

-

-

-

Net cash used in financing activities

-

-

-

-

-

137,434

16,419

90,990

89,780

-

-

Net cash (used in) provided by financing activities

206,708

-229,429

-147,843

-245,667

309,910

-

-

-

-

-91,983

-371,729

Net decrease in cash and cash equivalents, and restricted cash and cash equivalents

-50,726

-260,750

124,028

89,445

-

-

-

-

-

-

-

Supplemental disclosures of cash flows:
Cash paid for interest, net of capitalized interest (see Note 3 to the Condensed Consolidated Financial Statements)

109,107

112,016

89,836

101,796

85,719

85,386

-

-

-

-

-

Cash (received) paid for income taxes

3,483

2,520

1,089

-1,390

1,779

538

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-

-

-

-8,153

-67,306

55,972

22,492

-116,440

-59,512

-421,364

Cash received during the year for income taxes

-

-

-

-

-

-

5,780

103

28,008

-

-

Cash received during the year for income taxes

-

-

-

-

-

-

-

-

-

253,425

-145,443

Homebuilding [Member]
Inventory impairment and land option write-offs

6,288

3,501

17,813

-

-

-

-

-

-

-

-

Mortgage Warehouse Lines of Credit [Member]
Net borrowings (payments) related to lines of credit

27,101

-1,388

-31,023

-

-

-

-

-

-

-

-

Unsecured Revolving Credit Facility [Member]
Net borrowings (payments) related to lines of credit

-

-52,000

-

-

-

-

-

-

-

-

-

Senior Secured Term Loan [Member]
Payments related to senior secured debt

-

76,829

-

-

-

-

-

-

-

-

-

Senior Secured Notes [Member]
Payments related to senior secured debt

570,032

285,095

861,976

-

-

-

-

-

-

-

-

Proceeds from senior secured notes, net of discount

578,231

-

840,000

-

-

-

-

-

-

-

-

Senior Unsecured Term Loan Credit Facility [Member]
Proceeds from senior unsecured term loan facility

-

202,547

-

-

-

-

-

-

-

-

-