Mdc holdings inc (MDC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Operating Activities:
Net income

238,312

210,780

141,835

103,211

65,791

63,143

314,385

62,699

-98,390

-64,770

24,679

-380,545

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Losses on early extinguishments of debt

-

-

-

-

-

-18,153

-

-

-38,795

-

-

-

Stock-based compensation expense

26,016

14,017

5,857

7,477

10,066

5,978

9,652

16,225

15,432

17,510

15,099

14,616

Depreciation and amortization

23,054

21,326

5,321

5,132

4,069

3,928

3,864

4,766

6,371

5,759

5,402

9,208

Inventory impairments

935

21,850

10,010

10,173

9,993

1,760

919

1,105

12,965

24,297

-

-

Other-than-temporary impairment of marketable securities

0

0

286

1,443

3,969

4,293

-

-

-

-

-

-

Net (gain) loss on marketable equity securities

0

0

18,122

1,074

-911

7,310

-

-

-

-

-

-

Gain on sale of metropolitan district bond securities (related party)

0

0

35,847

-

0

-

-

-

-

-

-

-

Asset impairments

-

-

-

-

-

-

-

-

-

-

30,986

298,155

Amortization of deferred marketing costs

-

-

-

-

-

-

-

-

-

-

9,055

23,502

Inventory impairments and write-offs of land option deposits

-

-

-

-

-

-

-

-

-

-

2,948

6,838

Amortization of discount / premiums on marketable debt securities

0

-366

0

-

100

566

219

596

1,271

2,557

-

-

Deferred income tax expense

13,670

3,729

44,787

16,145

33,333

34,226

-187,171

-

-

-

-

160,565

Excess tax benefits from stock-based compensation

-

-

-

-

-

26

391

-

-

-

-

3,561

(Gain) loss on sale of assets, net

-

-

-

-

-

-

-

-

-

-

-

6,241

Other non-cash items

-

-

-

-

-

-

-

-

-

-

1,316

5,970

Net changes in assets and liabilities:
Restricted cash

-

-

-

-

934

621

336

1,192

247

-56

-194

-1,228

Trade and other receivables

12,997

4,638

13,763

20,424

-5,247

6,638

-4,186

6,223

-12,078

-141,034

-9,986

-16,642

Income taxes receivable

-

-

-

-

-

-

-

-

-

-

-21,359

73,677

Mortgage loans held-for-sale, net

47,810

11,097

-660

23,104

27,278

-4,186

-27,375

41,618

13,221

2,799

-6,289

-31,540

Prepaid and other assets

4,694

245

13,121

1,036

7,648

11,873

13,562

-4,388

-17,163

15,054

10,331

50,034

Accounts payable

-

-

-

-

-

-

-

47,473

-9,012

-1,069

-

-43,139

Housing completed or under construction

-

-

-

-

-

-

-

-

-

-

146,505

404,079

Land and land under development

-

-

-

-

-

-

-

-

-

-

-30,843

134,623

Accounts payable and accrued liabilities

66,205

49,325

22,320

21,905

7,535

-16,013

-19,408

-198

-56,585

-33,116

-30,190

-70,258

Net cash provided by (used in) operating activities

57,833

-7,906

70,506

115,945

215

-163,647

-269,549

-108,819

-80,284

-209,081

202,454

479,511

Investing Activities:
Purchases of marketable securities

11,708

18,850

67,239

48,050

53,822

428,709

404,965

478,701

330,968

934,240

389,741

94,767

Maturities of marketable securities

0

50,000

0

-

1,510

167,339

159,592

108,250

492,051

138,042

116,661

39,903

Sales of marketable securities

7,637

16,230

83,315

61,736

101,165

687,692

216,756

349,938

275,038

159,881

56,042

-

Proceeds from sale of metropolitan district bond securities (related party)

0

0

44,253

-

0

-

-

-

-

-

-

-

Purchases of property and equipment

24,714

27,166

2,539

4,468

1,491

3,242

1,785

1,268

31,857

8,149

-

514

Other investing

-

-

-

-

-

-

-

-

-

-

7,954

-

Settlement of unsettled trades

-

-

-

-

-

-

-

-

-

-

-

57,074

Settlement of unsettled trades

-

-

-

-

-

-

-

-

-

-

-

115,135

Net cash used in investing activities

-28,785

20,214

57,790

9,218

47,362

423,080

-30,402

-21,781

404,264

-644,466

-224,992

-113,439

Financing Activities:
Payments on mortgage repurchase facility, net

32,801

4,475

-2,145

25,874

27,789

-2,252

-13,253

196,402

91,372

152,951

139,870

-

Repayment of senior notes

-

-

-

-

-

517,650

-

-

537,724

-

-

-

Lines of credit - advances

-

-

-

-

-

-

-

-

-

-

-

125,754

Lines of credit - payments

-

-

-

-

-

-

-

-

-

-

-

195,901

Proceeds from issuance of senior notes

0

0

146,463

-

0

248,375

346,938

-

-

242,288

-

-

Advances on revolving credit facility, net

-

-

-

-

-

15,000

-

224,027

114,640

149,270

134,112

34,873

Dividend payments

73,117

67,718

51,897

49,088

48,868

48,820

-

96,915

47,432

47,140

46,925

46,391

Payments of deferred financing costs

0

3,026

2,665

-

0

-

-

-

-

-

-

-

Issuance of shares under stock-based compensation programs, net

15,341

9,860

9,501

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

26

391

-

-

-

1,122

3,561

Proceeds from exercise of stock options

-

-

-

-

665

375

5,118

16,624

9,044

53

3,623

11,997

Net cash used in financing activities

-24,975

-56,409

99,257

-23,214

-20,414

-304,946

339,194

-52,666

-552,844

191,520

-47,938

-66,107

Net increase (decrease) in cash, cash equivalents and restricted cash

4,073

-44,101

227,553

101,949

27,163

-45,513

39,243

-183,266

-228,864

-662,027

-70,476

299,965

Homebuilding Segment [Member]
Inventory impairments

935

21,850

10,010

10,173

-

-

-

-

-

-

-

-

Net gain on sale of available-for-sale marketable securities

0

0

17,775

979

-

-

-

-

-

-

-

-

Gain on sale of metropolitan district bond securities (related party)

0

0

35,847

-

-

-

-

-

-

-

-

-

Financial Services Segment [Member]
Net gain on sale of available-for-sale marketable securities

11,797

-3,745

0

-

-

-

-

-

-

-

-

-

Housing Completed or Under Construction [Member]
Housing completed or under construction and land under development

83,484

12,082

69,548

128,525

-

-

-

-

-

-

-

-

Land and Land Under Development [Member]
Housing completed or under construction and land under development

149,577

304,250

10,169

-124,622

-

-

-

-

-

-

-

-