Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2017



	March 31, 2017
	NWHM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	68,311	$	41,568	$	234	$	—		$	110,113
Restricted cash	—		209		—		—			209
Contracts and accounts receivable	18		27,669		—		(2,005		)	25,682
Intercompany receivables	81,747		—		—		(81,747		)	—
Due from affiliates	—		418		—		38			456
Real estate inventories	—		321,994		—		—			321,994
Investment in and advances to unconsolidated joint ventures	—		54,204		—		—			54,204
Investment in subsidiaries	323,883		—		—		(323,883		)	—
Other assets	14,098		12,147		—		(1,138		)	25,107
Total assets	$	488,057	$	458,209	$	234	$	(408,735	)	$	537,765

Liabilities and equity
Accounts payable	$	904	$	37,176	$	2	$	—		$	38,082
Accrued expenses and other liabilities	—		15,398		129		(3,088		)	12,439
Intercompany payables	—		81,747		—		(81,747		)	—
Due to affiliates	—		17		—		(17		)	—
Senior notes, net	241,738		—		—		—			241,738
Total liabilities	242,642		134,338		131		(84,852		)	292,259
Stockholders' equity	245,415		323,871		12		(323,883		)	245,415
Noncontrolling interest	—		—		91		—			91
Total equity	245,415		323,871		103		(323,883		)	245,506
Total liabilities and equity	$	488,057	$	458,209	$	234	$	(408,735	)	$	537,765



	December 31, 2016
	NWHM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	16,385	$	13,842	$	269	$	—		$	30,496
Restricted cash	—		585		—		—			585
Contracts and accounts receivable	30		29,774		—		(1,971		)	27,833
Intercompany receivables	73,972		—		—		(73,972		)	—
Due from affiliates	—		1,138		—		—			1,138
Real estate inventories	—		286,928		—		—			286,928
Investment in and advances to unconsolidated joint ventures	—		50,857		—		—			50,857
Investment in subsidiaries	268,411		—		—		(268,411		)	—
Other assets	9,381		11,918		—		—			21,299
Total assets	$	368,179	$	395,042	$	269	$	(344,354	)	$	419,136

Liabilities and equity
Accounts payable	$	167	$	32,900	$	27	$	—		$	33,094
Accrued expenses and other liabilities	5,489		19,763		108		(1,942		)	23,418
Intercompany payables	—		73,972		—		(73,972		)	—
Due to affiliates	—		29		—		(29		)	—
Unsecured revolving credit facility	118,000		—		—		—			118,000
Total liabilities	123,656		126,664		135		(75,943		)	174,512
Stockholders' equity	244,523		268,378		33		(268,411		)	244,523
Noncontrolling interest	—		—		101		—			101
Total equity	244,523		268,378		134		(268,411		)	244,624
Total liabilities and equity	$	368,179	$	395,042	$	269	$	(344,354	)	$	419,136



	Three Months Ended March 31, 2017
	NWHM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Revenues:
Home sales	$	—		$	69,406		$	—		$	—		$	69,406
Fee Building	—			55,617			—			—			55,617
	—			125,023			—			—			125,023
Cost of Sales:
Home sales	—			60,034			31			—			60,065
Fee building	490			53,436			—			—			53,926
	490			113,470			31			—			113,991
Gross Margin:
Home sales	—			9,372			(31		)	—			9,341
Fee building	(490		)	2,181			—			—			1,691
	(490		)	11,553			(31		)	—			11,032
Selling and marketing expenses	—			(5,001		)	—			—			(5,001		)
General and administrative expenses	(779		)	(4,311		)	—			—			(5,090		)
Equity in net income of unconsolidated joint ventures	—			306			—			—			306
Equity in net income (loss) of subsidiaries	1,672			—			—			(1,672		)	—
Other income (expense), net	18			95			—			—			113
Income (loss) before income taxes	421			2,642			(31		)	(1,672		)	1,360
Benefit (provision) for income taxes	425			(949		)	—			—			(524		)
Net income (loss)	846			1,693			(31		)	(1,672		)	836
Net loss attributable to noncontrolling interest	—			—			10			—			10
Net income (loss) attributable to The New Home Company Inc.	$	846		$	1,693		$	(21	)	$	(1,672	)	$	846



	Three Months Ended March 31, 2016
	NWHM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Revenues:
Home sales	$	—		$	38,496		$	3,807		$	—		$	42,303
Fee Building	—			43,052			—			(115		)	42,937
	—			81,548			3,807			(115		)	85,240
Cost of Sales:
Home sales	—			33,270			3,400			—			36,670
Fee building	470			40,444			—			—			40,914
	470			73,714			3,400			—			77,584
Gross Margin:
Home sales	—			5,226			407			—			5,633
Fee building	(470		)	2,608			—			(115		)	2,023
	(470		)	7,834			407			(115		)	7,656
Selling and marketing expenses	—			(3,018		)	(458		)	—			(3,476		)
General and administrative expenses	(3,183		)	(1,992		)	—			—			(5,175		)
Equity in net loss of unconsolidated joint ventures	—			(7		)	—			—			(7		)
Equity in net income (loss) of subsidiaries	1,605			—			—			(1,605		)	—
Other income (expense), net	18			(140		)	(102		)	115			(109		)
(Loss) income before income taxes	(2,030		)	2,677			(153		)	(1,605		)	(1,111		)
Benefit (provision) for income taxes	1,216			(974		)	—			—			242
Net (loss) income	(814		)	1,703			(153		)	(1,605		)	(869		)
Net loss attributable to noncontrolling interest	—			—			55			—			55
Net (loss) income attributable to The New Home Company Inc.	$	(814	)	$	1,703		$	(98	)	$	(1,605	)	$	(814	)



	Three Months Ended March 31, 2017
	NWHM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Net cash used in operating activities	$	(16,972	)	$	(22,276	)	$	(35	)	$	(148	)	$	(39,431	)
Investing activities:
Purchases of property and equipment	(24		)	(26		)	—			—			(50		)
Contributions and advances to unconsolidated joint ventures	—			(3,796		)	—			—			(3,796		)
Contributions to subsidiaries from corporate	(57,100		)	—			—			57,100			—
Distributions of capital from subsidiaries	3,152									(3,152		)	—
Distributions of capital from unconsolidated joint ventures	—			24			—			—			24
Net cash (used in) provided by investing activities	$	(53,972	)	$	(3,798	)	$	—		$	53,948		$	(3,822	)
Financing activities:
Proceeds from senior notes	247,402			—			—			—			247,402
Borrowings from credit facility	72,000			—			—			—			72,000
Repayments of credit facility	(190,000		)	—			—			—			(190,000		)
Payment of debt issuance costs	(5,967		)	—			—			—			(5,967		)
Contributions to subsidiaries from corporate	—			57,100			—			(57,100		)	—
Distributions to corporate from subsidiaries	—			(3,300		)	—			3,300			—
Minimum tax withholding paid on behalf of employees for stock awards	(565		)	—			—			—			(565		)
Net cash provided by (used in) financing activities	$	122,870		$	53,800		$	—		$	(53,800	)	$	122,870
Net increase (decrease) in cash and cash equivalents	51,926			27,726			(35		)	—			79,617
Cash and cash equivalents – beginning of period	16,385			13,842			269			—			30,496
Cash and cash equivalents – end of period	$	68,311		$	41,568		$	234		$	—		$	110,113



	Three Months Ended March 31, 2016
	NWHM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated NWHM
	(Dollars in thousands)
Net cash (used in) provided by operating activities	$	(17,812	)	$	(85,358	)	$	2,599		$	(195	)	$	(100,766	)
Investing activities:
Purchases of property and equipment	(100		)	(74		)	—			—			(174		)
Contributions and advances to unconsolidated joint venture	—			(4,327		)	—			—			(4,327		)
Contributions to subsidiaries from corporate	(103,905		)	—			—			103,905			—
Distributions of capital from subsidiaries	7,806			—			—			(7,806		)	—
Distributions of capital from unconsolidated joint ventures	—			3,531			—			—			3,531
Net cash (used in) provided by investing activities	$	(96,199	)	$	(870	)	$	—		$	96,099		$	(970	)
Financing activities:
Borrowings from credit facility	115,000			—			—			—			115,000
Borrowings from other notes payable	—			—			339			—			339
Repayments of other notes payable	—			(13,135		)	(1,687		)	—			(14,822		)
Contributions to subsidiaries from corporate	—			103,905			—			(103,905		)	—
Distributions to corporate from subsidiaries	—			(8,001		)	—			8,001			—
Minimum tax withholding paid on behalf of employees for stock awards	(630		)	—			—			—			(630		)
Excess income tax provision from stock-based compensation	(97		)	—			—			—			(97		)
Net cash provided by (used in) financing activities	$	114,273		$	82,769		$	(1,348	)	$	(95,904	)	$	99,790
Net increase (decrease) in cash and cash equivalents	262			(3,459		)	1,251			—			(1,946		)
Cash and cash equivalents – beginning of period	18,129			27,140			605			—			45,874
Cash and cash equivalents – end of period	$	18,391		$	23,681		$	1,856		$	—		$	43,928