Acquisition of RSI Communities (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Reconciliation of Consideration Transferred as of Acquisition Date

A reconciliation of the consideration transferred as of the acquisition date is as follows:



Net proceeds received from RSI inventory involved in land banking transactions	$	194,131
Issuance of 6.00% Senior Notes due September 1, 2023	190,437
Cash on hand	90,653
	475,221

Summary of Preliminary Amounts for Acquired Assets and Liabilities Recorded at Fair Value

The following table summarizes the preliminary amounts for acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands):



Assets Acquired
	Real estate inventories	$	436,578
	Goodwill	51,975
	Other	6,532
	Total Assets	495,085

Liabilities Assumed
	Accounts payable	$	9,315
	Accrued expenses	8,244
	Notes payable	2,305
	Total liabilities	19,864
	Net assets acquired	$	475,221

Summary of Unaudited Pro Forma Amounts of Polygon Northwest Homes Acquisition

The following table presents unaudited pro forma amounts for the three months ended March 31, 2018 and March 31, 2017 as if the RSI Acquisition had been completed as of January 1, 2017 (amounts in thousands, except per share data):



	Three months ended March 31, 2018		Three months ended March 31, 2017
Operating revenues	$	401,600	258,854
Net income (loss) available to common stockholders	$	6,419	$	(10,767	)
Income (Loss) per share - basic	$	0.17	$	(0.29	)
Income (Loss) per share - diluted	$	0.16	$	(0.29	)