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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:          
Net income $ 836 $ (869) $ 20,926 $ 21,378 $ 4,757
Adjustments to reconcile net income to net cash used in operating activities:          
Deferred taxes (54) (27) (918) (1,675) (5,819)
Amortization of equity based compensation 611 985 3,471 3,884 2,322
Excess income tax provision/(benefit) from stock-based compensation 0 97 97 (97) 0
Inventory impairments     3,500 0 0
Gain from notes payable principal reduction     (250) 0 0
Distributions of earnings from unconsolidated joint ventures 1,588 0 3,742 18,477 6,040
Equity in net income of unconsolidated joint ventures (306) 7 (7,691) (13,767) (8,443)
Deferred profit from unconsolidated joint ventures 148 312 646 (1,603) 0
Depreciation 123 125 511 473 381
Abandoned project costs 34 149 580 635 754
Home sales impairments   0 2,350 0 0
Net changes in operating assets and liabilities:          
Restricted cash 376 138 396 (97) (153)
Contracts and accounts receivable 2,151 5,875 (3,737) (10,796) (5,986)
Due from affiliates 799 53 (344) 1,683 (2,104)
Real estate inventories (36,077) (98,712) (71,388) (65,942) (114,932)
Other assets (3,669) (3,616) (756) (3,651) (1,285)
Accounts payable 4,988 5,470 6,171 9,790 7,893
Accrued expenses and other liabilities (10,979) (10,723) 2,921 8,712 4,349
Due to affiliates 0 (30) (293) 293 0
Net cash used in operating activities (39,431) (100,766) (42,416) (32,303) (112,226)
Investing activities:          
Purchases of property and equipment (50) (174) (439) (418) (883)
Cash assumed from joint venture at consolidation     2,009 0 0
Contributions and advances to unconsolidated joint ventures (3,796) (4,327) (15,088) (15,028) (34,610)
Distributions of capital from unconsolidated joint ventures 24 3,531 15,307 32,026 10,609
Net cash provided by (used in) investing activities (3,822) (970) 1,789 16,580 (24,884)
Financing activities:          
Net proceeds from issuance of common stock     0 47,253 87,800
Repurchase of common stock     0 0 (11,989)
Cash distributions to noncontrolling interest in subsidiary     (725) (2,411) (52)
Borrowings from credit facility 72,000 115,000 223,050 99,450 100,474
Repayments of credit facility (190,000) 0 (179,974) (125,000) 0
Proceeds from senior notes 247,402 0      
Borrowings from other notes payable 0 339 343 3,552 11,162
Repayments of other notes payable 0 (14,822) (15,636) (5,171) (15,768)
Payment of debt issuance costs (5,967) 0 (1,064) 0 0
Minimum tax withholding paid on behalf of employees for stock awards (565) (630) (648) (248) 0
Excess income tax (provision)/benefit from stock-based compensation 0 (97) (97) 97 0
Proceeds from exercise of stock options     0 17 0
Net cash provided by financing activities 122,870 99,790 25,249 17,539 171,627
Net increase (decrease) in cash and cash equivalents 79,617 (1,946) (15,378) 1,816 34,517
Cash and cash equivalents – beginning of period 30,496 45,874 45,874 44,058 9,541
Cash and cash equivalents – end of period $ 110,113 $ 43,928 $ 30,496 $ 45,874 $ 44,058