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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
OPERATING ACTIVITIES  
Net loss (including net loss attributable to non-controlling interests)$ (148,571)$ (25,815)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:  
Depreciation and amortization2,8313,562
Amortization of stock-based compensation1,508763
Impairment of land and other inventories109,271204
Impairment of Goodwill17,2150
Change in fair value of contingent consideration(4,388)0
Distribution of earnings(338)(32)
Equity in (earnings) losses of unconsolidated entities326331
Changes in operating assets and liabilities:  
Restricted cash587(22,573)
Receivables, net1,221370
Income tax receivable033,252
Land and other inventories(287)(7,483)
Prepaid expenses and other assets3,0541,250
Accounts payable and accrued and other liabilities3053,030
Customer deposits and deferred revenues(584)170
Net cash used in operating activities(17,850)(12,971)
INVESTING ACTIVITIES  
Investment in property and equipment(862)(79)
Return from Poinciana Parkway030
Investment in unconsolidated entities(83)(82)
Notes receivable from unconsolidated affilitates3,9570
Return of capital from unconsolidated joint venture4710
Net cash provided by (used in) investing activities3,483(131)
FINANCING ACTIVITIES  
Proceeds from issue of 7.50% Convertible Notes100,0000
Principal payments of real estate borrowings(2,679)(55,881)
Repurchase 4.50% Convertible Notes(59,402)0
Debt issuance costs(4,627)0
Net cash provided by (used in) financing activities33,292(55,881)
Net increase (decrease) in cash and cash equivalents18,925(68,983)
Cash and cash equivalents at beginning of period115,502217,132
Cash and cash equivalents at end of period$ 134,427$ 148,149