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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 13,908 $ 13,192
Depreciation, Depletion and Amortization 121 342
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Allocated Share-based Compensation Expense 834 196
Deferred income taxes, net 5,084 3,994
Changes in operating assets and liabilities    
(Increase) decrease in restricted cash (1,450) 30
Decrease (increase) in accounts receivable 1,128 (62)
Increase in inventory (41,263) (28,097)
Decrease (increase) in earnest money deposits 2,963 (2,265)
Decrease (increase) in other assets 1,041 (1,317)
Increase in accounts payable 3,215 1,052
Increase in accrued expenses 3,403 810
Increase in customer and builder deposits 3,184 457
Net cash used in operating activities (7,832) (11,668)
Cash flows from investing activities    
Proceeds from sale of investment in direct financing leases 0 2,768
Acquisition of property and equipment (164) (432)
Net cash (used in) provided by investing activities (164) 2,336
Cash flows from financing activities    
Borrowings from lines of credit 40,000 13,500
Proceeds from notes payable 0 2,676
Repayments of lines of credit (24,000) (7,061)
Repayments of notes payable (1,157) (3,004)
Contributions from noncontrolling interests 2,351 87
Distributions to noncontrolling interests (6,292) (2,673)
Net cash provided by financing activities 10,902 3,525
Net cash provided by financing activities 2,906 (5,807)
Cash and cash equivalents at beginning of period 21,207 22,651
Cash and cash equivalents at beginning of period 24,113 16,844
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of capitalized interest 0 3,046
Cash paid for taxes 706 914
Supplemental disclosure of noncash investing and financing activities:    
Decrease in land not owned under option agreements 3,263 1,429
Out-of-period equity adjustment $ 0 $ 1,933