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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net income $ 112,705 $ 49,655
Adjustments to Reconcile Net Income to Net cash used in operating activities    
Depreciation and amortization 4,230 1,927
(Gain) loss on sale of property and equipment (16) 17
Amortization of debt issuance costs 1,860 1,429
Extinguishment of unamortized debt issuance costs 282 0
Amortization of right-of-use operating lease 2,489 1,695
Stock compensation expense 3,244 2,560
Deferred tax expense 16,633 9,295
Income from equity method investments, net of distributions received 1,372 (2,857)
Remeasurement of contingent consideration 9,234 5,160
Changes in Operating Assets and Liabilities    
Accounts receivable 3,203 1,762
Inventories (289,355) (117,315)
Lot deposits (47,021) (41,001)
Other assets (32,058) (6,915)
Accounts payable and accrued expenses (20,161) (26,176)
Customer deposits 13,260 28,942
Operating lease ROU assets (8,238) (264)
Operating lease liabilities 5,799 (1,346)
Net cash used in operating activities (222,538) (93,432)
Cash Flows from Investing Activities    
Purchase of property and equipment (1,923) (1,278)
Proceeds from disposal of property and equipment 42 460
Investments in equity method investments 0 (600)
Returns of investment from equity method investments 407 549
Business combinations, net of cash acquired 0 (22,616)
Net cash used in investing activities (1,474) (23,485)
Cash Flows from Financing Activities    
Proceeds from construction lines of credit 230,000 1,001,317
Principal payments on construction lines of credit (115,000) (926,703)
Proceeds from notes payable 578 2,420
Principal payments on notes payable (2,301) (24,378)
Payment of debt issuance costs (5,069) (3,884)
Payment of equity issuance costs 0 (12,572)
Payments on financing leases 0 (77)
Payments on contingent consideration (17,735) (1,207)
Distributions to non-controlling interests (18,390) (16,026)
Proceeds from stock issuance 0 142,569
Distributions 0 (23,276)
Redemptions 0 (25,531)
Contribution from conversion of converted LLC units 0 123,658
Conversion of LLC units 0 (123,658)
Net cash provided by financing activities 72,083 112,652
Net increase (decrease) in cash, cash equivalents and restricted cash (151,929) (4,265)
Cash, cash equivalents and restricted cash at beginning of period 281,322 85,211
Cash, cash equivalents and restricted cash at ending of period 129,393 80,946
Non-cash Financing Activities    
Financed land payments to seller 0 8,916
Leased assets obtained in exchange for new operating lease liabilities 8,239 0
Equity issuance costs incurred 0 906
Accrued distributions 0 0
Non-cash Investing Activities    
Investment capital reallocation 0 (3,469)
Total non-cash financing and investing activities 8,239 6,353
Reconciliation of Cash, cash equivalents and Restricted cash    
Cash and cash equivalents 84,097 34,009
Restricted cash 45,296 46,937
Total Cash, cash equivalents and Restricted cash shown on the Consolidated Statements of Cash Flows $ 129,393 $ 80,946