XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 64,196,000 $ 27,761,000
Depreciation, Depletion and Amortization 625,000 841,000
Gain (Loss) on Disposition of Property Plant Equipment 39,000 10,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Share-based compensation expense 2,923,000 2,583,000
Earnest Money Deposits and Pre-acquisition Costs Written-Off 59,000 43,000
Income (Loss) from Equity Method Investments (5,687,000) (3,891,000)
Distributions of income from unconsolidated entities 3,176,000 1,886,000
Changes in operating assets and liabilities:    
Increase in receivables (179,000) (2,337,000)
Increase in inventory (123,429,000) (76,034,000)
Decrease (increase) in earnest money deposits 1,265,000 (1,009,000)
Decrease (increase) in other assets 4,476,000 (106,000)
Increase in accounts payable (11,217,000) (14,479,000)
Increase in accrued expenses 28,317,000 9,819,000
Increase (Decrease) in Contract with Customer, Liability (992,000) 17,942,000
Net cash used in operating activities (13,994,000) (8,013,000)
Cash flows from investing activities:    
Purchase of property and equipment, net of disposals (448,000) (740,000)
Net cash used in investing activities (448,000) (749,000)
Net Cash Provided by (Used in) Financing Activities [Abstract]    
Borrowings from lines of credit 112,000,000 108,000,000
Repayments of Lines of Credit 92,000,000 211,000,000
Payment, Tax Withholding, Share-based Payment Arrangement 1,075,000 834,000
Payments for Repurchase of Common Stock (25,801,000)  
Payments of Dividends (655,000) 0
Payments to Noncontrolling Interests 5,718,000 0
Net cash provided by financing activities 1,123,000 18,565,000
Net (decrease) increase in cash and cash equivalents and restricted cash (13,319,000) 9,803,000
Cash and cash equivalents, beginning of period 78,696,000 19,479,000
Restricted cash, beginning of period 14,858,000 14,156,000
Cash and cash equivalents and restricted cash, beginning of period 93,554,000 33,635,000
Cash and cash equivalents, end of period 66,083,000 28,688,000
Restricted cash, end of period 14,152,000 14,750,000
Cash and cash equivalents and restricted cash, end of period 80,235,000 43,438,000
Supplemental Cash Flow Information [Abstract]    
Income Taxes Paid, Net 25,000 0
Earnest Money Deposits and Pre-acquisition Costs Written-Off 59,000 43,000
Proceeds from Notes Payable 14,472,000 0
Repayments of Notes Payable (14,000) (2,006,000)
Payments of Debt Issuance Costs (86,000) (595,000)
Payments to Acquire Equity Method Investments 0 (9,000)
Proceeds from Issuance of Senior Long-term Debt $ 0 $ 125,000,000