William lyon homes (WLH)
CashFlow / TTM
Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12
Operating activities
Net income

90,569

104,873

117,679

115,133

88,374

86,620

79,635

57,751

67,441

53,895

48,730

67,967

68,669

64,432

62,596

60,261

53,943

49,288

50,790

54,526

152,032

155,090

149,418

135,603

15,999

5,785

-9,334

0

0

0

Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization

4,276

5,268

6,388

7,699

6,315

5,043

3,569

1,962

1,926

1,892

1,957

2,006

2,233

2,261

2,604

2,663

-430

1,598

2,086

2,874

6,851

4,851

4,226

3,795

3,175

4,519

7,545

0

0

0

Net change in deferred income taxes

677

-1,158

-532

-674

-30,354

-26,837

-27,442

-27,836

-1,819

-3,384

-4,265

-3,975

-6,867

-6,647

-7,896

-8,313

1,839

2,299

5,367

7,812

-91,055

-91,853

-93,457

-95,580

0

0

0

-

-

-

Stock based compensation expense

10,698

10,826

10,917

11,298

11,440

12,085

11,581

10,100

8,573

7,054

6,608

6,400

5,829

5,974

6,711

6,570

8,170

7,417

6,454

6,114

4,365

4,327

4,500

3,800

0

0

0

-

-

-

Equity in income of unconsolidated joint ventures

3,722

3,953

3,098

3,118

3,074

3,703

4,383

3,700

4,418

4,693

4,674

5,606

5,268

4,851

4,172

3,239

2,190

1,318

803

555

0

0

0

-

-

-

-

-

-

-

Distributions from unconsolidated joint ventures

5,611

2,881

2,815

5,439

6,141

6,198

6,301

3,085

4,669

3,810

3,760

3,725

1,275

1,330

1,323

1,075

903

715

429

353

0

0

0

-

-

-

-

-

-

-

Loss on extinguishment of debt

-418

1,398

1,398

1,015

0

0

0

-21,828

-21,828

-21,828

-21,828

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-504

-504

1

0

0

0

0

-

-

-

-

-

-

-

-

0

0

0

Receivables

2,128

1,778

1,372

1,524

-919

4,177

3,302

694

1,660

1,651

2,876

876

-9,427

-7,740

-9,034

-6,663

3,530

3,070

4,370

4,554

5,363

-7,788

986

6,050

5,443

16,688

8,161

0

0

0

Escrow proceeds receivable

2,394

-3,797

1,107

-3,319

142

3,758

-145

3,234

228

-2,262

-1,327

-2,956

-5,820

-5,952

-4,169

126

-8,786

3,597

1,503

-1,465

0

0

0

-

-

-

-

-

-

-

Real estate inventories - owned

-214,310

-61,778

248,410

199,409

151,256

53,299

-155,441

-52,913

21,900

38,718

14,569

69,598

87,853

251,005

279,429

264,868

0

0

0

-

0

0

0

-

0

0

0

-

-

-

Other assets, net

-1,906

4,800

4,131

2,448

2,771

912

1,986

2,158

3,975

2,442

-603

-2,367

-5,903

-6,789

-97

-758

3,932

7,270

3,496

5,588

6,036

3,355

732

-1,069

-3,099

-2,872

-1,292

0

0

0

Accounts payable

19,906

24,977

19,653

60,257

1,473

942

6,789

-15,483

7,195

-10,301

-6,105

-1,599

-38,387

19,577

19,601

24,067

68,188

37,861

39,921

34,103

27,108

9,430

-5,473

-1,636

6,884

7,973

13,164

0

0

0

Accrued expenses

-43,811

-19,358

-169

31,298

22,717

30,454

24,818

17,247

-3,907

-7,722

-20,913

9,466

-13,443

-11,555

-2,611

-15,045

5,373

11,371

6,411

21,290

25,776

26,044

16,331

18,596

22,036

8,833

15,757

0

0

0

Liabilities from real estate inventories not owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net cash used in operating activities

73,668

97,750

-101,452

27,603

5,448

104,316

306,863

167,454

81,190

29,295

39,357

21,202

-35,532

-142,873

-171,348

-172,908

-199,117

-62,206

-51,167

-159,807

-190,659

-310,380

-333,810

-174,534

-170,915

-61,716

39,533

0

0

0

Investing activities
Cash paid for acquisitions, net of cash acquired

8,682

8,007

4,107

479,328

475,221

475,221

475,221

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

1,370

866

3,513

7,359

9,384

10,249

6,740

4,300

2,672

644

505

1,029

4,285

5,172

5,176

4,800

1,639

685

955

2,078

2,122

3,858

4,344

3,754

3,618

1,826

995

0

0

0

Investment in and advances to unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

1,500

1,500

1,500

500

0

0

0

-

-

-

-

-

-

-

Collection of related party note receivable

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-10,052

-8,873

-7,620

-486,687

-484,605

-485,470

-481,961

-4,300

-2,672

-644

-505

5,159

1,903

1,016

1,012

-5,800

-6,772

-494,603

-494,873

-494,996

-490,907

-3,858

-4,344

-3,754

-36,819

-35,027

-34,196

0

0

0

Financing activities
Proceeds from borrowings on notes payable

141,276

130,267

193,811

183,894

180,503

205,322

128,905

134,061

132,900

106,392

111,971

139,783

146,729

174,138

166,677

119,663

122,206

89,468

81,263

95,227

80,113

66,503

73,487

73,610

0

0

0

-

-

-

Principal payments on notes payable

167,105

136,104

135,825

127,105

123,782

142,966

150,610

142,211

158,037

158,931

142,141

147,887

128,344

88,468

77,781

58,217

60,433

69,593

83,963

96,465

76,733

84,642

71,525

65,037

56,578

31,843

86,652

0

0

0

Debt Instrument, Redemption Premium

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of senior notes

-

-

-

-

-

-

-

-

-

-

-

258,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings on revolver

622,000

522,446

572,446

492,446

478,567

411,121

351,121

346,121

335,000

328,000

308,000

258,000

233,000

205,000

195,000

229,000

94,000

164,000

109,000

20,000

0

0

0

-

-

-

-

-

-

-

Payments on revolver

692,000

534,446

547,446

447,446

308,567

331,121

323,121

375,121

381,000

322,000

300,000

294,000

222,000

250,000

195,000

164,000

129,000

60,000

60,000

20,000

0

0

0

-

-

-

-

-

-

-

Excess income tax benefit from stock based awards

-

-

-

-

-

-

-

-

-

-

-

-182

-238

-178

-226

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Payment of deferred loan costs

5,807

1,524

4,943

10,777

10,855

9,566

8,929

9,892

10,087

10,537

7,728

1,085

1,184

1,562

1,783

2,147

1,864

16,257

17,030

19,018

21,177

7,250

6,359

4,060

0

0

0

-

-

-

Principal payments on subordinated amortizing notes

-

-

-

-

-

-

-

7,225

7,351

7,204

7,034

6,841

6,748

6,657

6,567

6,651

4,999

3,368

1,760

0

0

0

0

-

-

-

-

-

-

-

Proceeds from issuance of convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

Proceeds from stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

106

106

106

391

285

0

0

0

-

-

-

-

-

-

-

Proceeds from issuance of Class B Shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

179,726

179,438

0

0

0

-

-

-

Shares remitted to, or withheld by the Company for employee tax withholding

2,356

2,614

2,614

4,954

5,048

4,860

4,860

1,544

1,474

1,478

1,478

942

924

1,044

1,044

1,832

0

0

0

-

0

0

0

-

-

-

-

-

-

-

Cash received for lease transaction

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments to repurchase common stock

4,132

9,245

10,366

15,366

12,062

9,233

8,112

3,112

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of preferred stock dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,550

3,157

3,731

2,370

0

0

0

Cash contributions from members of consolidated entities

8,033

14,019

128,594

131,267

133,971

135,523

69,307

66,712

61,023

55,662

6,560

38,334

42,865

48,188

53,091

19,850

0

0

0

-

11,426

11,078

45,464

37,184

33,691

35,084

15,425

0

0

0

Cash distributions to members of consolidated entities

68,508

72,695

77,909

83,957

74,618

82,825

72,279

62,513

46,697

28,069

25,511

19,636

15,196

9,441

6,683

10,632

10,283

19,652

26,327

27,326

33,994

30,117

36,860

30,447

22,331

21,229

16,004

0

0

0

Net cash provided by financing activities

-72,280

-102,550

104,308

310,153

486,335

397,752

186,063

-23,056

-76,128

-36,346

-35,646

-34,456

47,960

120,976

176,684

176,140

197,149

514,673

424,461

535,902

634,763

210,602

422,779

278,885

215,211

233,243

-19,465

0

0

0

Net increase (decrease) in cash and cash equivalents

-8,664

-13,673

-4,764

-148,931

7,178

16,598

10,965

140,098

2,390

-7,695

3,206

-8,095

14,331

-20,881

6,348

-2,568

-8,740

-42,136

-121,579

-118,901

-46,803

-103,636

84,625

100,597

7,477

136,500

-14,128

0

0

0

Supplemental disclosures:
Cash paid for taxes

57,189

25,615

24,284

24,388

18,851

40,129

26,065

35,761

26,705

31,260

26,240

16,540

21,138

27,065

18,826

24,955

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities

6,778

6,182

4,877

6,495

6,352

6,254

2,971

5,925

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable issued in conjunction with land acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

9,500

9,500

9,500

2,413

2,413

2,413

16,889

16,238

0

0

0

-

-

-

Shares remitted to the Company for employee tax withholding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

Accrued offering costs related to secondary sale of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

Accrued deferred loan costs

-807

-841

-856

15

869

869

-391

0

0

0

0

-

-

-

0

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

Inventory reclassified to Other assets upon adoption of ASC 606

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock related to land acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accretion of payable in kind dividends on convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

Preferred stock dividends, accrued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

325

0

0

0

Non-cash additions to Real estate inventories - not owned and Liabilities from inventories not owned

5,722

144,088

11,916

121,303

15,546

52,776

87,896

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of Senior Subordinated Secured Notes for payable in kind interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5 3/4% Senior Notes due April 15, 2019
Principal payments of Senior Notes

0

0

0

150,000

150,000

150,000

150,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8 1/2% Senior Notes due November 15, 2020
Debt Instrument, Redemption Premium

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Issuance of Senior Long-term Debt

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8 1/2% Senior Notes due 2020
Principal payments of Senior Notes

-

-

-

-

-

-

-

425,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5.875% Senior Notes due January 31, 2025
Principal payments of Senior Notes

11,716

11,716

11,716

8,125

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolver

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6% Senior Notes due September 1, 2023
Proceeds from issuance of senior notes

0

0

0

350,000

350,000

350,000

350,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5 7/8% Senior Notes due January 31, 2025
Proceeds from issuance of Senior Notes

-

-

-

-

-

-

-

446,468

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-