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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income (loss) $ 5,327,000 $ (32,769,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Deferred taxes 1,179,000 1,637,000
Amortization of stock-based compensation 1,258,000 1,110,000
Inventory impairments 0 19,000,000
Project abandonment costs 89,000 14,130,000
Equity in net (income) loss of unconsolidated joint ventures (174,000) 21,899,000
Depreciation and amortization 2,727,000 3,623,000
Gain on early extinguishment of debt 0 (579,000)
Net changes in operating assets and liabilities:    
Contracts and accounts receivable 527,000 8,870,000
Due from affiliates 41,000 98,000
Real estate inventories (5,185,000) 30,579,000
Other assets 840,000 (31,133,000)
Accounts payable (3,762,000) (8,932,000)
Accrued expenses and other liabilities 2,122,000 (5,510,000)
Net cash provided by operating activities 4,989,000 22,023,000
Investing activities:    
Purchases of property and equipment (130,000) (143,000)
Contributions to unconsolidated joint ventures 0 (3,847,000)
Distributions of capital from unconsolidated joint ventures 1,512,000 2,370,000
Cash paid for acquisition, net of cash acquired (6,477,000) 0
Net cash used in investing activities (5,095,000) (1,620,000)
Financing activities:    
Proceeds from senior notes 36,138,000 0
Repurchases of senior notes 0 (9,825,000)
Proceeds from notes payable 0 7,036,000
Repayment of notes payable (23,848,000) (7,036,000)
Payment of debt issuance costs (996,000) (255,000)
Repurchases of common stock (976,000) (3,718,000)
Tax withholding paid on behalf of employees for stock awards (320,000) (304,000)
Net cash provided by (used in) financing activities 9,998,000 (14,102,000)
Net increase in cash, cash equivalents and restricted cash 9,892,000 6,301,000
Cash, cash equivalents and restricted cash – beginning of period 107,459,000 79,431,000
Cash, cash equivalents and restricted cash – end of period $ 117,351,000 $ 85,732,000