XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 252,833,000 $ 137,304,000
Depreciation, Depletion and Amortization 1,717,000 2,075,000
Gain (Loss) on Disposition of Property Plant Equipment (386,000) 195,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Share-based compensation expense 3,329,000 2,917,000
Earnest Money Deposits and Pre-acquisition Costs Written-Off 839,000 210,000
Income (Loss) from Equity Method Investments (19,907,000) (14,039,000)
Distributions of income from unconsolidated entities 9,870,000 7,755,000
Changes in operating assets and liabilities:    
Increase in receivables (368,000) (1,805,000)
Increase in inventory (248,303,000) (325,086,000)
Decrease (increase) in earnest money deposits 727,000 (4,166,000)
(Increase) decrease in other assets (1,486,000) 617,000
Increase in accounts payable (15,302,000) (23,793,000)
Payment for Contingent Consideration Liability, Operating Activities 0 (368,000)
Increase in accrued expenses 38,161,000 24,151,000
Increase (Decrease) in Contract with Customer, Liability (20,988,000) 31,948,000
Net cash provided by (used in) operating activities 31,340,000 (114,499,000)
Cash flows from investing activities:    
Purchase of property and equipment (1,349,000) (1,782,000)
Net cash used in investing activities (4,946,000) (1,790,000)
Net Cash Provided by (Used in) Financing Activities [Abstract]    
Borrowings from lines of credit 355,000,000 506,000,000
Repayments of Lines of Credit 312,000,000 490,000,000
Payment, Tax Withholding, Share-based Payment Arrangement 1,075,000 834,000
Payments for Repurchase of Common Stock (101,463,000) 0
Payments of Dividends (2,092,000) 0
Payments to Noncontrolling Interests 5,718,000 1,606,000
Net cash (used in) provided by financing activities (53,006,000) 135,657,000
Net (decrease) increase in cash and cash equivalents and restricted cash (26,612,000) 19,368,000
Cash and cash equivalents, beginning of period   19,479,000
Restricted cash, beginning of period 16,388,000 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   21,561,000
Restricted cash, end of period 18,739,000 31,442,000
Cash and cash equivalents and restricted cash, end of period 66,942,000 53,003,000
Supplemental Cash Flow Information [Abstract]    
Interest Paid, Excluding Capitalized Interest, Operating Activities 0 0
Income Taxes Paid, Net 63,527,000 32,485,000
Earnest Money Deposits and Pre-acquisition Costs Written-Off 839,000 210,000
Proceeds from Notes Payable 14,472,000 127,000
Repayments of Notes Payable (44,000) (2,030,000)
Payments of Debt Issuance Costs (86,000) (894,000)
Payments for Repurchase of Redeemable Noncontrolling Interest 0 (106,000)
Payments to Acquire Equity Method Investments (3,597,000) (8,000)
Proceeds from Issuance of Senior Long-term Debt $ 0 $ 125,000,000