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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 64,302 $ 64,535 $ 25,206
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation and amortization expense 3,079 2,943 325
Share-based compensation expense 2,191 1,774 2,571
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 4,906 1,693 0
Deferred income taxes, net 1,237 14,712 36,299
Income (Loss) from Equity Method Investments (9,809) (7,259) (2,746)
Distributions of income from unconsolidated entities 5,084 4,623 974
Changes in operating assets and liabilities:      
Decrease (increase) in receivables 122 (3,029) 843
Increase in inventory (83,970) (129,291) (95,452)
Decrease (increase) in earnest money deposits 2,107 2,119 (3,097)
Increase in other assets (1,525) (2,741) (1,701)
Increase (decrease) in accounts payable 3,953 (483) 7,241
(Decrease) increase in accrued expenses (4,384) 9,470 4,175
Payment for Contingent Consideration Liability, Operating Activities (1,332) 0 0
(Decrease) increase in customer and builder deposits (8,024) 1,458 7,359
Net cash used in operating activities (22,063) (39,476) (18,003)
Payments to Acquire Businesses, Net of Cash Acquired 0 (26,861) 0
Cash flows from investing activities:      
Investments in unconsolidated entities (5,300) (755) (286)
Purchase of property and equipment (2,569) (3,211) (149)
Net cash used in investing activities (7,869) (30,827) (435)
Cash flows from financing activities:      
Borrowings from lines of credit 224,000 165,000 88,500
Proceeds from Issuance of Senior Long-term Debt 75,000 0 0
Payments of Debt Issuance Costs (1,974) (870) (809)
Repayments of lines of credit (260,000) (70,000) (56,500)
Repayments of notes payable 0 (10,226) (1,022)
Payment for Contingent Consideration Liability, Financing Activities (514) 0 0
Payments of withholding tax on vesting of restricted stock awards (544) (412) (586)
Payments for Repurchase of Common Stock (2,186) (981) 0
Contributions from noncontrolling interests 3,600 5 438
Distributions to noncontrolling interests (10,993) (10,747) (10,896)
Proceeds from (Payments for) Other Financing Activities 527 0 0
Net cash provided by financing activities 25,862 71,769 19,125
Net (decrease) increase in cash and restricted cash (4,070) 1,466 687
Restricted Cash 4,416 3,440 3,605
Cash 33,269 38,315 36,684
Cash and restricted cash 37,685 41,755 40,289
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 0 0 0
Cash paid for income taxes, net of refunds 14,313 4,611 2,941
Supplemental disclosure of noncash investing and financing activities:      
Equity issuance related to investment in unconsolidated entity $ 0 $ 0 $ 14,622