Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2019



	March 31, 2019
	NWHM		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	18,076	$	23,659	$	139	$	—		$	41,874
Restricted cash	—		116		—		—			116
Contracts and accounts receivable	10		17,447		—		(998		)	16,459
Intercompany receivables	210,665		—		—		(210,665		)	—
Due from affiliates	—		681		—		—			681
Real estate inventories	—		563,112		—		—			563,112
Investment in and advances to unconsolidated joint ventures	—		33,032		—		—			33,032
Investment in subsidiaries	401,754		—		—		(401,754		)	—
Other assets	20,175		15,194		—		(3		)	35,366
Total assets	$	650,680	$	653,241	$	139	$	(613,420	)	$	690,640

Liabilities and equity
Accounts payable	$	264	$	20,370	$	4	$	—		$	20,638
Accrued expenses and other liabilities	13,822		20,444		59		(993		)	33,332
Intercompany payables	—		210,665		—		(210,665		)	—
Due to affiliates	—		8		—		(8		)	—
Unsecured revolving credit facility	84,000		—		—		—			84,000
Senior notes, net	315,591		—		—		—			315,591
Total liabilities	413,677		251,487		63		(211,666		)	453,561
Stockholders' equity	237,003		401,754		—		(401,754		)	237,003
Non-controlling interest in subsidiary	—		—		76		—			76
Total equity	237,003		401,754		76		(401,754		)	237,079
Total liabilities and equity	$	650,680	$	653,241	$	139	$	(613,420	)	$	690,640



	December 31, 2018
	NWHM		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	28,877	$	13,249	$	147	$	—		$	42,273
Restricted cash	—		269		—		—			269
Contracts and accounts receivable	7		18,926		—		(668		)	18,265
Intercompany receivables	192,341		—		—		(192,341		)	—
Due from affiliates	—		1,218		—		—			1,218
Real estate inventories	—		566,290		—		—			566,290
Investment in and advances to unconsolidated joint ventures	—		34,330		—		—			34,330
Investment in subsidiaries	396,466		—		—		(396,466		)	—
Other assets	18,643		14,812		—		(3		)	33,452
Total assets	$	636,334	$	649,094	$	147	$	(589,478	)	$	696,097

Liabilities and equity
Accounts payable	$	240	$	39,151	$	—	$	—		$	39,391
Accrued expenses and other liabilities	8,492		21,129		71		(664		)	29,028
Intercompany payables	—		192,341		—		(192,341		)	—
Due to affiliates	—		7		—		(7		)	—
Unsecured revolving credit facility	67,500		—		—		—			67,500
Senior notes, net	320,148		—		—		—			320,148
Total liabilities	396,380		252,628		71		(193,012		)	456,067
Stockholders' equity	239,954		396,466		—		(396,466		)	239,954
Non-controlling interest in subsidiary	—		—		76		—			76
Total equity	239,954		396,466		$	76	(396,466		)	240,030
Total liabilities and equity	$	636,334	$	649,094	$	147	$	(589,478	)	$	696,097



	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
Other income (expense), net	(62		)	(131		)	—		—		(193		)
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 income (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	)



	Three Months Ended March 31, 2018
	NWHM			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated NWHM
	(Dollars in thousands)
Revenues:
Home sales	$	—		$	79,437		$	—		$	—	$	79,437
Fee building	—			43,794			—			—		43,794
	—			123,231			—			—		123,231
Cost of Sales:
Home sales	—			69,670			24			—		69,694
Fee building	—			42,699			—			—		42,699
	—			112,369			24			—		112,393

Gross Margin:
Home sales	—			9,767			(24		)	—		9,743
Fee building	—			1,095			—			—		1,095
	—			10,862			(24		)	—		10,838
Selling and marketing expenses	—			(6,639		)	—			—		(6,639		)
General and administrative expenses	(1,106		)	(4,913		)	—			—		(6,019		)
Equity in net income of unconsolidated joint ventures	—			335			—			—		335
Equity in net loss of subsidiaries	(118		)	—			—			118		—
Other income (expense), net	111			(137		)	—			—		(26		)
Pretax loss	(1,113		)	(492		)	(24		)	118		(1,511		)
Benefit for income taxes	473			387			—			—		860
Net loss	(640		)	(105		)	(24		)	118		(651		)
Net loss attributable to non-controlling interest in subsidiary	—			—			11			—		11
Net loss attributable to The New Home Company Inc.	$	(640	)	$	(105	)	$	(13	)	$	118	$	(640	)



	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	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



	Three Months Ended March 31, 2018
	NWHM			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Net cash used in operating activities	$	(14,743	)	$	(14,693	)	$	(6	)	$	—		$	(29,442	)
Investing activities:
Purchases of property and equipment	(6		)	(66		)	—			—			(72		)
Cash assumed from joint venture at consolidation	—			(4,273		)	—			—			(4,273		)
Contributions to subsidiaries from corporate	(56,185		)	—			—			56,185			—
Distributions of capital from subsidiaries	21,175			—			—			(21,175		)	—
Distributions of capital and repayment of advances from unconsolidated joint ventures	—			2,264			—			—			2,264
Interest collected on advances to unconsolidated joint ventures	—			129			—			—			129
Net cash used in investing activities	$	(35,016	)	$	(1,946	)	$	—		$	35,010		$	(1,952	)
Financing activities:
Contributions to subsidiaries from corporate	—			56,185			—			(56,185		)	—
Distributions to corporate from subsidiaries	—			(21,175		)	—			21,175			—
Tax withholding paid on behalf of employees for stock awards	(954		)	—			—			—			(954		)
Net cash (used in) provided by financing activities	$	(954	)	$	35,010		$	—		$	(35,010	)	$	(954	)
Net increase (decrease) in cash, cash equivalents and restricted cash	(50,713		)	18,371			(6		)	—			(32,348		)
Cash, cash equivalents and restricted cash – beginning of period	99,586			24,196			188			—			123,970
Cash, cash equivalents and restricted cash – end of period	$	48,873		$	42,567		$	182		$	—		$	91,622