Hovnanian enterprises inc (HOVNP)
CashFlow / TTM
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11
Cash flows from operating activities:
Net (loss)

-33,813

-42,117

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (loss)

-

-

-

-

-

-

-

-

-362,859

-

-321,745

14,990

13,211

-2,819

411

-6,799

-17,897

-16,100

280,845

305,634

317,291

307,144

17,499

8,860

18,080

31,295

-85,934

-59,724

-59,240

-66,197

-80,135

-165,741

-240,210

-286,087

0

0

0

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

4,472

4,172

3,778

3,585

3,345

3,156

3,357

3,675

4,026

4,249

4,169

3,919

3,713

3,565

3,443

3,398

3,404

3,388

3,399

3,430

3,413

3,417

3,501

3,574

4,103

4,712

5,294

5,850

6,027

6,223

6,884

7,992

8,679

9,340

0

0

0

Compensation from stock options and awards

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Compensation from stock options and awards

-

-

-

-

-

3,669

1,657

1,132

1,144

557

2,750

3,596

1,828

2,921

1,388

2,976

6,861

8,816

11,698

11,906

10,249

10,279

9,369

9,425

9,223

6,842

7,978

6,041

6,415

6,453

4,843

5,469

5,466

6,219

0

0

0

Amortization of bond discounts, premiums and deferred financing costs

7,589

8,128

8,925

8,552

8,305

8,822

8,390

8,677

12,083

13,875

15,006

16,072

13,988

12,830

12,013

11,802

11,795

11,687

11,612

11,398

10,803

10,320

9,793

9,110

8,379

7,843

7,824

7,589

7,649

7,436

6,844

6,760

6,369

6,047

0

0

0

Gain on sale and retirement of property and assets

12

25

18

39

6

3,619

3,663

3,680

3,738

166

139

610

607

632

1,046

368

1,032

1,119

843

1,118

646

483

490

428

4,625

4,696

4,684

4,587

284

230

303

124

-5

266

0

0

0

Income from unconsolidated joint ventures

20,910

28,932

37,690

44,680

38,771

24,033

9,961

-4,652

-10,557

-7,047

-9,228

-7,748

-4,532

-4,346

-3,528

-1,575

1,237

4,169

6,518

7,177

6,778

7,897

9,083

12,562

12,322

12,040

9,883

7,044

7,713

5,401

-155

-3,261

-7,989

-8,958

0

0

0

Distributions of earnings from unconsolidated joint ventures

0

-

-

-

-

-

-

-

-

1,864

1,585

1,205

1,187

1,002

3,017

3,993

5,398

8,438

11,002

9,998

8,835

6,044

2,250

2,093

2,189

2,340

2,483

2,231

1,984

1,790

1,754

1,587

1,264

1,583

0

0

0

Gain on extinguishment of debt

0

-

-

-

-

-

-

-

-

-34,854

-38,054

4,204

4,446

-3,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-29,066

0

0

0

-

-

-

-

Noncontrolling interest in consolidated joint venture

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Expenses related to the debt for debt exchange

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,694

0

0

0

-

-

-

-

Inventory impairment and land option write-offs

8,412

6,288

3,919

2,580

3,791

3,501

11,662

15,763

15,043

17,813

19,772

17,140

24,856

33,353

27,341

26,853

21,495

12,044

10,915

10,579

6,790

5,224

3,413

3,295

4,964

4,965

8,779

8,845

9,870

12,530

67,103

77,840

91,549

101,749

0

0

0

Deferred income tax provision

-

-

-

-

-

-

-

-

-

285,578

294,892

9,509

4,255

6,851

11,345

7,207

3,870

-4,691

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in assets:
Origination of mortgage loans

1,167,374

1,089,825

1,051,009

1,047,703

1,061,557

1,069,519

1,019,478

1,025,974

1,015,332

1,045,991

1,130,470

1,166,250

1,228,204

1,274,284

1,240,101

1,197,578

1,117,311

1,042,407

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sale of mortgage loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sale of mortgage loans

-

-

-

-

-

-

-

0

-1,017,677

-

-1,190,783

-1,208,148

-1,310,572

-1,239,521

-1,212,987

-1,174,031

-1,046,118

-1,007,425

-1,462,501

-1,188,686

-971,733

-825,026

-7,853

-27,444

-15,047

-4,071

-7,327

10,386

5,194

44,852

38,155

27,705

29,587

-14,154

0

0

0

Receivables, prepaids, deposits and other assets

19,017

15,911

-4,231

-41,730

-21,447

-20,669

-6,560

27,772

1,693

-5,249

-26,607

-37,116

-30,615

-22,905

-25,893

-13,182

-14,473

-10,855

43,963

44,420

65,421

48,908

21,316

-3,100

-21,796

-52,940

-54,357

-30,213

-21,302

-3,680

-31,471

-49,255

-72,149

-59,686

0

0

0

Inventories

125,754

220,608

249,794

230,593

128,650

58,801

-81,182

-166,442

-237,907

-255,444

-258,133

-449,784

-333,704

-328,141

-118,394

164,232

191,505

312,312

247,247

253,680

278,832

270,770

261,561

263,643

218,517

111,770

132,268

73,210

2,594

-8,430

11,559

45,290

132,543

88,385

0

0

0

State income tax payable

340

-1,033

-719

188

1,489

1,107

444

-643

-50

282

263

108

-189

-205

-913

-688

-1,045

-1,045

-263

-296

-56

-104

-38

4,906

6,149

-3,581

-3,943

-44,418

-45,141

-34,947

-29,090

2,452

2,485

23,919

0

0

0

Customers’ deposits

2,817

5,786

2,306

6,956

-3,894

-3,686

199

-9,324

-1,564

-3,657

-7,677

-7,655

-6,480

-6,789

-1,769

6,545

8,532

9,249

7,158

3,150

1,908

4,850

2,219

5,288

3,098

6,273

12,779

10,724

9,697

5,903

8,380

5,769

3,724

7,150

0

0

0

Accounts payable, accrued interest and other accrued liabilities

28,226

-2,665

12,803

-9,002

-11,863

-31,394

-11,793

-10,951

-54,920

-21,876

-63,319

-55,215

-24,542

13,090

30,770

22,510

18,082

-10,594

39,218

42,136

66,215

59,269

31,798

36,705

14,117

19,314

-9,461

4,010

-14,743

-1,576

5,394

-16,621

-22,721

-63,954

0

0

0

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-189,999

-

-263,722

-260,608

-255,150

-190,585

-202,878

-160,918

-127,559

9,268

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-99,311

-249,127

-228,297

-195,733

-101,350

-66,822

59,543

114,402

188,018

301,578

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

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

23

29

24

46

148

38,303

38,363

38,457

38,380

270

330

735

731

764

1,073

705

1,498

1,573

1,312

1,266

678

515

507

454

7,293

7,369

7,381

10,219

3,265

3,206

3,424

547

1,003

1,341

0

0

0

Purchase of property, equipment and other fixed assets and acquisitions

3,795

4,005

4,120

3,941

4,296

5,193

5,655

5,186

7,834

6,478

7,947

10,856

7,314

8,007

5,495

2,533

2,428

2,054

3,091

3,547

4,207

3,423

2,243

1,938

1,206

1,558

1,485

4,999

5,372

5,059

4,957

1,105

693

826

0

0

0

Increase (decrease) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Investments in and advances to unconsolidated joint ventures

30,451

13,256

15,093

15,119

25,568

26,271

27,737

32,314

24,196

36,803

44,219

56,530

53,047

49,905

40,795

19,911

18,469

18,707

23,344

37,206

33,318

21,699

15,083

1,927

2,566

4,907

7,034

4,987

5,342

4,743

3,672

3,611

3,550

4,071

0

0

0

Distributions of capital from unconsolidated joint ventures

5,719

8,925

6,892

5,664

27,743

28,662

27,864

31,323

18,011

13,304

12,837

10,934

5,071

5,264

12,794

14,832

18,617

17,112

14,619

11,500

11,181

11,107

13,967

17,551

12,821

24,806

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,350

-

-10,164

-26,621

-25,591

-14,155

2,194

18,339

20,574

30,285

0

0

0

-

-

-

-

-

-

-

-

Distributions of capital from unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Net cash (used in) provided by investing activities

-28,504

-8,307

-12,297

-13,350

-1,973

35,501

31,151

34,994

26,686

-29,707

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Cash flows from financing activities:
Proceeds from mortgages and notes

324,683

318,462

287,335

276,184

201,515

181,101

175,169

171,617

178,681

199,275

217,556

201,935

208,013

211,209

206,933

216,609

206,968

180,284

168,919

165,174

159,704

152,906

131,100

134,294

119,554

109,209

90,510

49,490

26,804

16,240

0

0

0

-

-

-

-

Payments related to mortgages and notes

239,906

209,445

174,770

154,767

143,860

162,192

163,103

180,729

201,757

218,468

237,882

260,047

262,542

272,220

251,438

211,076

179,659

140,901

132,018

138,593

130,269

112,136

89,095

73,405

84,343

76,142

71,327

59,266

33,261

25,605

0

0

0

-

-

0

0

Proceeds from model sale leaseback financing programs

25,989

33,188

21,781

36,908

31,570

22,749

22,337

1,903

10,269

10,270

10,177

18,500

15,705

24,297

0

0

0

-

-

-

-

42,402

40,253

48,454

25,870

21,948

0

0

0

-

-

-

-

-

-

-

-

Payments related to model sale leaseback financing programs

-20,177

-25,791

-42,481

-46,237

-45,197

-30,123

-19,507

-16,988

-16,132

-28,798

34,062

38,675

38,593

41,435

32,371

25,928

21,505

20,197

21,971

20,397

27,815

23,188

16,889

16,743

8,169

9,193

0

0

0

-

-

-

-

-

-

-

-

Proceeds from land bank financing programs

129,955

104,961

89,604

76,216

31,249

18,827

35,484

24,313

26,606

29,190

22,406

29,431

40,685

174,211

169,392

166,264

152,168

16,985

13,995

20,174

26,901

24,696

23,546

13,605

26,953

36,233

0

0

0

-

-

-

-

-

-

-

-

Payments related to land bank financing programs

54,253

33,902

27,154

27,866

32,735

38,991

45,651

50,030

53,556

71,757

94,511

111,244

132,987

108,577

74,642

46,133

17,236

24,330

29,155

36,665

43,305

42,002

42,232

43,551

38,994

39,669

0

0

0

-

-

-

-

-

-

-

-

Net borrowings (payments) related to lines of credit

-

-

-

-

-

-

-

0

0

-

-

0

-80,826

-

27,102

26,166

71,590

31,956

34,591

47,658

34,949

-14,744

-3,489

-30,680

-18,221

-15,822

-20,756

1,458

2,994

57,756

36,549

31,002

24,972

-23,914

0

0

0

Payments related to senior secured debt

-

-

-

-

-

-

0

0

0

-

0

0

267,692

-

324,809

238,031

238,031

65,053

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from senior unsecured term loan facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

250,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing costs from land bank financing program and note issuances

25,896

16,748

5,611

6,474

7,681

8,035

8,955

16,474

15,461

14,556

16,214

10,493

8,524

11,469

9,354

7,103

7,887

9,015

13,152

13,094

13,667

11,947

7,622

9,264

7,887

5,071

0

0

0

-

-

-

-

-

-

-

-

Principal payments and debt repurchases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,989

8,325

8,203

6,231

870,925

870,045

921,936

941,158

0

0

0

-

-

-

-

Payments related to the debt for debt exchange

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,874

0

0

0

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

65,928

-

304,102

303,569

265,155

137,434

157,147

142,949

157,717

16,419

0

0

0

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

102,590

206,708

94,629

84,795

-44,911

-229,429

-128,612

-160,241

-138,026

-147,843

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

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

-25,225

-50,726

-145,965

-124,288

-148,234

-260,750

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

82,623

109,107

88,456

96,149

95,973

112,016

106,776

102,181

122,299

89,836

110,217

101,171

92,815

101,796

92,659

92,645

92,230

85,719

89,496

82,508

86,522

85,386

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash (received) paid for income taxes

3,475

3,483

3,888

3,547

2,147

2,520

1,708

1,731

1,314

1,089

1,182

1,250

-1,324

-1,390

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

0

0

49,202

-

-23,895

-131,918

-120,721

-8,153

30,216

16,340

-15,586

-67,306

-43,537

370

50,732

55,972

-6,712

37,845

68,464

22,492

-48,415

-146,713

-146,687

-116,440

0

0

0

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Cash received during the year for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

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

8,412

6,288

3,919

2,580

3,791

3,501

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Senior Secured Notes [Member]
Proceeds from senior secured notes, net of discount

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-