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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 47,607 $ 29,585
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization expense 1,804 238
Share-based compensation expense 1,597 2,242
Deferred income taxes 11,120 11,771
Distributions of income from unconsolidated entities 3,361 259
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (2,245) 640
Increase in inventory (108,634) (70,605)
Decrease (increase) in earnest money deposits 1,021 (6,905)
Increase in other assets (3,053) (1,460)
Increase in accounts payable 8,424 910
Increase in accrued expenses 3,914 2,463
Increase in customer and builder deposits 3,293 8,668
Net cash used in operating activities (38,325) (23,162)
Income (Loss) from Equity Method Investments (6,534) (968)
Cash flows from investing activities:    
Business combination, net of acquired cash (26,861) 0
Investments in unconsolidated entities (755) (241)
Purchase of property and equipment (1,767) (27)
Net cash used in investing activities (29,383) (268)
Cash flows from financing activities:    
Borrowings from lines of credit 133,000 61,500
Payments of debt issuance costs (228) (452)
Repayments of lines of credit (40,000) (41,500)
Repayments of notes payable (9,181) (744)
Withholdings of taxes from vesting of restricted stock awards (412) (586)
Contributions from noncontrolling interests 0 438
Distributions to noncontrolling interests (10,746) (9,740)
Net cash provided by financing activities 72,433 8,916
Net increase (decrease) in cash and restricted cash 4,725 (14,514)
Cash, beginning of period 36,684 35,157
Restricted cash, beginning of period 3,605 4,445
Cash and restricted cash, beginning of period 40,289 39,602
Cash, end of period 33,116 20,720
Restricted cash, end of period 11,898 4,368
Cash and restricted cash, end of period 45,014 25,088
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for income taxes, net of refunds 3,400 2,872
Supplemental disclosure of noncash investing activities:    
Decrease in land not owned under option contracts 0 2,271
NoncashOrPartNoncashEquityInvestmentNoncashFinancialOrEquityInstrumentConsiderationEquityIssuedValue $ 0 $ 14,623