Note 17 - Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Condensed Balance Sheet [Table Text Block]

	March 31, 2020
	NWHM		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	69,603	$	18,085	$	175	$	—		$	87,863
Restricted cash		—		424		—		—			424
Contracts and accounts receivable		11		16,514		—		(888	)		15,637
Intercompany receivables		262,949		—		—		(262,949	)		—
Due from affiliates		—		108		—		—			108
Real estate inventories		—		398,973		—		—			398,973
Investment in and advances to unconsolidated joint ventures		—		29,237		—		—			29,237
Investment in subsidiaries		171,369		—		—		(171,369	)		—
Deferred tax asset, net		16,060		529		—		—			16,589
Other assets		20,324		10,754		27		—			31,105
Total assets	$	540,316	$	474,624	$	202	$	(435,206	)	$	579,936
Liabilities and equity
Accounts payable	$	47	$	20,991	$	—	$	—		$	21,038
Accrued expenses and other liabilities		17,566		19,368		26		(877	)		36,083
Intercompany payables		—		262,949		—		(262,949	)		—
Due to affiliates		—		11		—		(11	)		—
Senior notes, net		300,479		—		—		—			300,479
Total liabilities		318,092		303,319		26		(263,837	)		357,600
Total stockholders' equity		222,224		171,305		64		(171,369	)		222,224
Non-controlling interest in subsidiary		—		—		112		—			112
Total equity		222,224		171,305		176		(171,369	)		222,336
Total liabilities and equity	$	540,316	$	474,624	$	202	$	(435,206	)	$	579,936

	December 31, 2019
	NWHM		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	66,166	$	12,978	$	170	$	—		$	79,314
Restricted cash		—		117		—		—			117
Contracts and accounts receivable		3		16,403		—		(424	)		15,982
Intercompany receivables		258,372		—		—		(258,372	)		—
Due from affiliates		—		238		—		—			238
Real estate inventories		—		433,938		—		—			433,938
Investment in and advances to unconsolidated joint ventures		—		30,217		—		—			30,217
Investment in subsidiaries		198,448		—		—		(198,448	)		—
Deferred tax asset, net		17,003		500		—		—			17,503
Other assets		9,505		16,340		35		—			25,880
Total assets	$	549,497	$	510,731	$	205	$	(457,244	)	$	603,189
Liabilities and equity
Accounts payable	$	68	$	24,973	$	3	$	—		$	25,044
Accrued expenses and other liabilities		11,950		28,999		26		(421	)		40,554
Intercompany payables		—		258,372		—		(258,372	)		—
Due to affiliates		—		3		—		(3	)		—
Senior notes, net		304,832		—		—		—			304,832
Total liabilities		316,850		312,347		29		(258,796	)		370,430
Total stockholders' equity		232,647		198,384		64		(198,448	)		232,647
Non-controlling interest in subsidiary		—		—		112		—			112
Total equity		232,647		198,384		176		(198,448	)		232,759
Total liabilities and equity	$	549,497	$	510,731	$	205	$	(457,244	)	$	603,189

Condensed Income Statement [Table Text Block]

	Three Months Ended March 31, 2020
	NWHM			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Adjustments		Consolidated NWHM
	(Dollars in thousands)
Revenues:
Home sales	$	—		$	95,659		$	—	$	—	$	95,659
Land sales		—			147			—		—		147
Fee building		—			36,227			—		—		36,227
		—			132,033			—		—		132,033
Cost of Sales:
Home sales		—			84,722			—		—		84,722
Land sales		—			147			—		—		147
Fee building		—			35,497			—		—		35,497
		—			120,366			—		—		120,366
Gross Margin:
Home sales		—			10,937			—		—		10,937
Land sales		—			—			—		—		—
Fee building		—			730			—		—		730
		—			11,667			—		—		11,667
Selling and marketing expenses		—			(7,466	)		—		—		(7,466	)
General and administrative expenses		221			(6,244	)		—		—		(6,023	)
Equity in net loss of unconsolidated joint ventures		—			(1,937	)		—		—		(1,937	)
Equity in net loss of subsidiaries		(10,530	)		—			—		10,530		—
Interest expense		—			(718	)		—		—		(718	)
Project abandonment costs		—			(14,036	)		—		—		(14,036	)
Loss on early extinguishment of debt		(123	)		—			—		—		(123	)
Other income (expense), net		193			30			—		—		223
Pretax loss		(10,239	)		(18,704	)		—		10,530		(18,413	)
Benefit for income taxes		1,763			8,174			—		—		9,937
Net loss		(8,476	)		(10,530	)		—		10,530		(8,476	)
Net loss attributable to non-controlling interest in subsidiary		—			—			—		—		—
Net loss attributable to The New Home Company Inc.	$	(8,476	)	$	(10,530	)	$	—	$	10,530	$	(8,476	)

	Three Months Ended March 31, 2019
	NWHM			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Adjustments		Consolidated NWHM
	(Dollars in thousands)
Revenues:
Home sales	$	—		$	99,186		$	—	$	—	$	99,186
Fee building		—			19,662			—		—		19,662
		—			118,848			—		—		118,848
Cost of Sales:
Home sales		—			86,569			—		—		86,569
Fee building		—			19,268			—		—		19,268
		—			105,837			—		—		105,837
Gross Margin:
Home sales		—			12,617			—		—		12,617
Fee building		—			394			—		—		394
		—			13,011			—		—		13,011
Selling and marketing expenses		—			(8,679	)		—		—		(8,679	)
General and administrative expenses		(566	)		(6,825	)		—		—		(7,391	)
Equity in net income of unconsolidated joint ventures		—			184			—		—		184
Equity in net loss of subsidiaries		(1,712	)		—			—		1,712		—
Gain on early extinguishment of debt		417			—			—		—		417
Project abandonment costs		—			(5	)		—		—		(5	)
Other income (expense), net		(62	)		(126	)		—		—		(188	)
Pretax loss		(1,923	)		(2,440	)		—		1,712		(2,651	)
(Provision) benefit for income taxes		(64	)		728			—		—		664
Net loss		(1,987	)		(1,712	)		—		1,712		(1,987	)
Net loss attributable to non-controlling interest in subsidiary		—			—			—		—		—
Net loss attributable to The New Home Company Inc.	$	(1,987	)	$	(1,712	)	$	—	$	1,712	$	(1,987	)

Condensed Cash Flow Statement [Table Text Block]

	Three Months Ended March 31, 2020
	NWHM			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Net cash (used in) provided by operating activities	$	(5,549	)	$	22,978		$	5	$	(133	)	$	17,301
Investing activities:
Purchases of property and equipment		(68	)		(57	)		—		—			(125	)
Contributions and advances to unconsolidated joint ventures		—			(2,057	)		—		—			(2,057	)
Contributions to subsidiaries from corporate		(21,800	)		—			—		21,800			—
Distributions of capital from subsidiaries to corporate		38,217			—			—		(38,217	)		—
Distributions of capital and repayment of advances from unconsolidated joint ventures		—			1,100			—		—			1,100
Net cash provided by (used in) investing activities	$	16,349		$	(1,014	)	$	—	$	(16,417	)	$	(1,082	)
Financing activities:
Repurchase of senior notes		(4,827	)		—			—		—			(4,827	)
Contributions to subsidiaries from corporate		—			21,800			—		(21,800	)		—
Distributions to corporate from subsidiaries		—			(38,350	)		—		38,350			—
Repurchases of common stock		(2,233	)		—			—		—			(2,233	)
Tax withholding paid on behalf of employees for stock awards		(303	)		—			—		—			(303	)
Net cash used in financing activities	$	(7,363	)	$	(16,550	)	$	—	$	16,550		$	(7,363	)
Net increase in cash, cash equivalents and restricted cash		3,437			5,414			5		—			8,856
Cash, cash equivalents and restricted cash – beginning of period		66,166			13,095			170		—			79,431
Cash, cash equivalents and restricted cash – end of period	$	69,603		$	18,509		$	175	$	—		$	88,287

	Three Months Ended March 31, 2019
	NWHM			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Net cash (used in) provided by operating activities	$	(14,259	)	$	2,035		$	(8	)	$	—		$	(12,232	)
Investing activities:
Purchases of property and equipment		—			(5	)		—			—			(5	)
Contributions and advances to unconsolidated joint ventures		—			(1,335	)		—			—			(1,335	)
Contributions to subsidiaries from corporate		(46,000	)		—			—			46,000			—
Distributions of capital from subsidiaries to corporate		39,000			—			—			(39,000	)		—
Distributions of capital and repayment of advances from unconsolidated joint ventures		—			2,562			—			—			2,562
Net cash (used in) provided by investing activities	$	(7,000	)	$	1,222		$	—		$	7,000		$	1,222
Financing activities:
Borrowings from credit facility		30,000			—			—			—			30,000
Repayments of credit facility		(13,500	)		—			—			—			(13,500	)
Repurchase of senior notes		(4,512	)		—			—			—			(4,512	)
Contributions to subsidiaries from corporate		—			46,000			—			(46,000	)		—
Distributions to corporate from subsidiaries		—			(39,000	)		—			39,000			—
Repurchases of common stock		(1,042	)		—			—			—			(1,042	)
Tax withholding paid on behalf of employees for stock awards		(488	)		—			—			—			(488	)
Net cash provided by financing activities	$	10,458		$	7,000		$	—		$	(7,000	)	$	10,458
Net (decrease) increase in cash, cash equivalents and restricted cash		(10,801	)		10,257			(8	)		—			(552	)
Cash, cash equivalents and restricted cash – beginning of period		28,877			13,518			147			—			42,542
Cash, cash equivalents and restricted cash – end of period	$	18,076		$	23,775		$	139		$	—		$	41,990