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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 35,173 $ 25,545 $ 61,062
Adjustment to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization expense 286 865 291
Share-based compensation 1,284 474 40
Deferred income taxes, net 13,147 8,352 (25,338)
Changes in operating assets and liabilities      
Increase in restricted cash (1,877) (2,242) (327)
Decrease (increase) in accounts receivable 866 (2,566) (303)
Increase in inventory (74,281) (58,728) (38,026)
Increase in earnest money deposits (298) (11,169) (3,384)
Decrease (increase) in other assets 1,341 (1,887) (828)
Increase (decrease) in accounts payable 1,583 (21) 4,898
Increase (decrease) in accrued expenses 8,571 (3,465) 4,706
Increase (decrease) in customer and builder deposits 7,150 (2,814) (1,022)
Net cash (used in) provided by operating activities (7,055) (47,656) 1,769
Net cash provided by (used in) financing activities 13,950 (1,443) 4,583
Cash and cash equivalents at beginning of year 21,207 22,650 18,067
Cash and cash equivalents at beginning of year 35,157 21,207 22,650
Cash flows from investing activities:      
Proceeds from sale of investment in direct financing leases 0 2,768 5,581
Issuance of notes receivable 0 0 (1,600)
Repayments of notes receivable 0 0 9,156
Acquisition of property and equipment (458) (307) (520)
Net cash (used in) provided by investing activities (458) 2,461 12,617
Cash flows from financing activities:      
Cash received as part of reverse recapitalization 0 0 (31,916)
Borrowings from lines of credit 63,000 86,000 19,000
Proceeds from notes payable 2,660 3,206 7,989
Repayments of lines of credit (35,500) (52,561) (22,147)
Repayments of notes payable (1,870) (5,199) (22,434)
Repayment of term loan facility 0 (150,000) 0
Proceeds from equity offering, net of issuance costs 0 169,942 0
Contributions from noncontrolling interests 2,928 87 787
Distributions to controlling interests 0 0 (13,121)
Distributions to noncontrolling interests (9,755) (7,723) (11,793)
Net cash provided by (used in) financing activities 21,463 43,752 (9,803)
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 0 2,764 1,433
Cash paid for taxes 1,503 1,339 636
Supplemental disclosure of noncash investing and financing activities:      
Decrease (increase) in land not owned under option agreements 6,921 (8,935) (7,279)
Accrued debt issuance costs 0 52 235
Out-of-period equity adjustment $ 0 $ 1,933 $ 0