| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net income | ||||||||
207,187 | 271,513 | 187,551 | 196,133 | 207,181 | 84,197 | -149,455 | 61,481 | -4,593 |
Adjustments to reconcile net income to net cash used in operating activities: | ||||||||
Depreciation and amortization | ||||||||
28,396 | 29,097 | 3,500 | 3,087 | 8,274 | 11,423 | 13,489 | 11,798 | 758 |
Income (Loss) from Equity Method Investments | ||||||||
9,264 | 8,124 | -5,007 | 4,989 | 2,691 | -288 | 2 | 2,453 | - |
Deferred income taxes, net | ||||||||
17,864 | 11,074 | 46,810 | 7,434 | 27,164 | 5,716 | -108,869 | 38,000 | - |
Amortization of stock-based compensation | ||||||||
14,806 | 14,814 | 15,906 | 12,612 | 11,935 | 8,626 | 5,002 | 3,854 | 466 |
Production Related Impairments or Charges | ||||||||
24,875 | 5,085 | 2,053 | 1,470 | 1,930 | 2,515 | 345,448 | 3,591 | - |
Charge for early extinguishment of debt | ||||||||
- | - | - | - | - | - | -645 | - | - |
Bridge commitment fee | ||||||||
- | - | - | - | - | 10,322 | - | - | - |
Excess tax deficit of share-based awards | ||||||||
- | - | - | 165 | 0 | 0 | 1,946 | - | - |
Changes in assets and liabilities: | ||||||||
Real estate inventories | ||||||||
-120,272 | 91,757 | 205,229 | 388,145 | 235,030 | 276,315 | 165,471 | 74,939 | 67,915 |
Receivables | ||||||||
17,684 | -74,545 | 44,280 | -576 | 23,592 | -40,933 | -44,689 | 11,823 | - |
Contracts and accounts receivable | ||||||||
- | - | - | - | - | - | - | - | -2,035 |
Other assets | ||||||||
12,369 | 9,895 | -13,487 | 8,501 | -35,360 | 6,680 | 19,391 | -3,845 | -170 |
Accounts payable | ||||||||
-15,193 | 3,222 | 2,618 | 5,412 | -4,020 | 5,571 | -6,538 | 10,262 | 1,662 |
Accrued expenses and other liabilities | ||||||||
-52,118 | 1,906 | 67,036 | 10,490 | 4,494 | -46 | 20,200 | 16,370 | - |
Returns on investments in unconsolidated entities, net | ||||||||
9,208 | 9,182 | 7,215 | 6,276 | 0 | 80 | 1,111 | 2,680 | - |
Net cash used in operating activities | ||||||||
315,980 | 310,662 | 101,674 | -158,310 | 31,005 | -113,370 | -21,004 | 62,846 | -66,443 |
Other operating cash flows | ||||||||
- | - | - | - | - | - | 84 | 180 | - |
Accrued liabilities | ||||||||
- | - | - | - | - | - | - | - | 974 |
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | ||||||||
30,282 | 31,651 | 2,605 | 3,985 | 809 | 7,850 | 10,350 | 3,529 | 308 |
Cash acquired in the Merger | ||||||||
- | - | - | - | - | 53,800 | - | - | - |
Proceeds from sale of property and equipment | ||||||||
46 | 8 | 6 | 9 | 0 | 23 | 5 | 4 | - |
Investments in unconsolidated entities | ||||||||
7,022 | 2,274 | 980 | 32 | 1,468 | 1,311 | 1,571 | - | - |
Net cash paid for acquisition | ||||||||
0 | 61,495 | 0 | 0 | - | - | - | - | - |
Proceeds from the sale of discontinued operations | ||||||||
- | - | - | - | - | - | 3,623 | - | - |
Distributions from unconsolidated entities | ||||||||
- | - | - | - | 1,415 | 0 | - | -232 | - |
Bridge commitment fee | ||||||||
- | - | - | - | - | 10,322 | - | - | - |
Proceeds from sale of partnership interests | ||||||||
- | - | - | - | - | - | - | 1,634 | - |
Net cash used in investing activities | ||||||||
-37,258 | -95,412 | -3,579 | -4,008 | -862 | 44,662 | -8,293 | -2,123 | -308 |
Cash flows from financing activities: | ||||||||
Borrowings from debt | ||||||||
400,000 | 125,000 | 500,000 | 541,069 | 140,000 | 987,298 | - | - | - |
Repayments of Debt | ||||||||
531,895 | 193,105 | 413,726 | 330,858 | 112,851 | 53,051 | 109,900 | - | - |
Debt issuance costs | ||||||||
3,125 | 0 | 5,957 | 5,062 | 2,688 | 23,000 | - | - | - |
Cash contributions from member | ||||||||
- | - | - | - | - | - | - | - | 64,000 |
Financial advisory fee paid on capital raised | ||||||||
- | - | - | - | - | - | - | - | -2,240 |
Borrowings from notes payable | ||||||||
- | - | - | - | - | - | - | - | 6,981 |
Repayment of notes payable | ||||||||
- | - | - | - | - | - | - | 175,805 | 3,570 |
Repayment of debt payable to Weyerhaeuser | ||||||||
- | - | - | - | - | -623,589 | 145,036 | 120,810 | - |
Decrease in book overdrafts | ||||||||
- | - | - | - | - | -22,491 | 6,821 | -2,809 | - |
Distributions to Weyerhaeuser | ||||||||
- | - | - | - | - | 8,606 | 13,920 | 2,351 | - |
Net repayments of debt held by variable interest entities | ||||||||
- | - | - | -2,442 | -6,769 | 3,903 | 5,582 | - | - |
Contributions from noncontrolling interests | ||||||||
- | - | - | 1,955 | 5,990 | 1,895 | 925 | 233 | - |
Distributions to noncontrolling interests | ||||||||
0 | 2,194 | 1,333 | 5,318 | 9,823 | 19,143 | 8,046 | - | - |
Proceeds from issuance of common stock under share-based awards | ||||||||
449 | 1,943 | 12,291 | 587 | 1,616 | 176 | - | - | - |
Excess tax benefits of share-based awards | ||||||||
- | - | - | - | 428 | 1,757 | 2,097 | 1,241 | - |
Minimum tax withholding paid on behalf of employees for share-based awards | ||||||||
3,612 | 6,049 | 2,896 | 1,359 | 2,190 | 0 | - | - | - |
Share repurchases | ||||||||
89,224 | 146,063 | 112,217 | 42,082 | 0 | 0 | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
-227,407 | -220,468 | -23,838 | 156,490 | 13,713 | 234,827 | 28,595 | -58,681 | 65,171 |
Net increase (decrease) in cash and cash equivalents | ||||||||
51,315 | -5,218 | 74,257 | -5,828 | 43,856 | 166,119 | -702 | 2,042 | -1,580 |