XML 115 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Operations And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Revenue from customers $ 843,726 $ 852,462 $ 777,949
Interest income 86,326 85,501 83,708
Net gains on sales of real estate assets 13,616 4,563 1,451
Other revenue 3,203 3,372 5,661
Total revenues 946,871 [1] 945,898 868,769
Costs and Expenses      
Interest expense 45,782 42,075 35,205
Recoveries from loan losses, net (5,428) (8,653) (7,546)
Impairment losses 6,938 4,718 7,482
Net gains on cancellation of junior subordinated debentures     (6,929)
Reimbursement of litigation costs and penalty   (600) (13,169)
Selling, general and administrative expenses 585,686 537,812 532,061
Total costs and expenses 936,015 [1] 874,423 789,317
Equity in net earnings of unconsolidated real estate joint ventures 37,898 14,194 12,541
Other income 82 1,695 801
Foreign exchange (loss) gain (75) 68 (193)
Income before income taxes 48,761 87,432 92,601
(Provision) benefit for income taxes [2] (16,658) (31,639) 9,702
Net income 32,103 55,793 102,303
Less: Net income attributable to noncontrolling interests 14,412 20,691 18,378
Net income attributable to shareholders $ 17,691 $ 35,102 $ 83,925
Basic earnings per share $ 0.19 $ 0.37 $ 0.85
Diluted earnings per share $ 0.19 $ 0.36 $ 0.81
Basic weighted average number of common shares outstanding 92,628 95,298 98,745
Diluted weighted average number of common and common equivalent shares outstanding 93,654 97,860 103,916
Other comprehensive income (loss), net of tax:      
Unrealized gain (loss) on securities available for sale $ 52 $ (47) $ 135
Foreign currency translation adjustments 287 (194) 406
Other comprehensive gain (loss), net 339 (241) 541
Comprehensive income, net of tax 32,442 55,552 102,844
Less: Comprehensive income attributable to noncontrolling interests 14,412 20,691 18,378
Comprehensive income attributable to shareholders $ 18,030 $ 34,861 $ 84,466
Class A Common Stock [Member]      
Costs and Expenses      
Cash dividends declared per common share $ 0.05 $ 0.04 $ 0.03
Class B Common Stock [Member]      
Costs and Expenses      
Cash dividends declared per common share $ 0.05 $ 0.04 $ 0.03
Sales Of VOIs [Member]      
Revenues      
Revenue from customers $ 255,375 $ 254,225 $ 242,017
Costs and Expenses      
Total costs 21,845 23,813 17,679
Fee-Based Sales Commissions [Member]      
Revenues      
Revenue from customers 207,832 216,422 229,389
Costs and Expenses      
Total costs 86,940    
Other Fee-Based Services [Member]      
Revenues      
Revenue from customers 125,244 118,024 111,819
Costs and Expenses      
Total costs 86,940 72,968 64,560
Cost Reimbursements [Member]      
Revenues      
Revenue from customers 63,889 62,534 52,639
Costs and Expenses      
Total costs 63,889 62,534 52,639
Trade Sales [Member]      
Revenues      
Revenue from customers 186,337 179,486 142,085
Costs and Expenses      
Total costs 127,720 125,640 107,335
Sales Of Real Estate Inventory [Member]      
Revenues      
Revenue from customers 5,049 21,771  
Costs and Expenses      
Total costs 2,643 14,116  
Other [Member]      
Revenues      
Revenue from customers $ 7,528 $ 6,284 $ 5,997
[1] During the fourth quarter of 2019, the prior 2019 quarterly revenue and operating expense amounts were reclassified for consistency to conform to the fourth quarter 2019 presentation.
[2] Expected tax is computed based upon income before income taxes.