XML 49 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
OPERATING ACTIVITIES      
Net loss (including net loss attributable to non-controlling interests) $ (87,683) $ (166,177) $ (35,682)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 4,405 3,762 4,794
Amortization of stock based compensation 3,034 1,850 1,442
Impairment of goodwill 0 17,215 0
Impairment of land and other inventories 51,384 112,732 660
Impairment of Poinciana Parkway 7,659 0 0
Change in fair value of contingent consideration 0 (4,388) 239
Change in estimated development liability (927) 2,825  
Loss on extinguishment of debt 1,144 0 0
Gain from write-off of 5.50% term bonds 0 (111) 0
Loss on disposal of assets 1,130 0 0
Equity loss from unconsolidated entities (259) 398 276
Distribution (return) of earnings from unconsolidated entity 0 357 (53)
Deferred income taxes 0 0 0
Changes in operating assets and liabilities:      
Restricted cash 3,190 550 (7,723)
Receivables, net 999 (1,295) 33,546
Income tax receivable 0 473 0
Land and other inventories (40,576) 11,230 (6,300)
Assets held for sale 4,429 0 0
Prepaid expenses and other assets (786) 4,426 (832)
Accounts payable, estimated development liability and accrued and other liabilities 4,135 (680) (488)
Customer deposits and deferred revenues 374 (946) (317)
NET CASH USED IN OPERATING ACTIVITIES (48,313) (17,568) (10,438)
INVESTING ACTIVITIES      
Investment in property and equipment (4,421) (831) (53)
Proceeds from sales of property and equipment 150 0 0
Return from (investment in) Poinciana Parkway 0 15 30
Investment related to JEN Transaction 0 0 (33,303)
Investment in unconsolidated entities (135) (138) (96)
Notes receivable from unconsolidated affiliates 0 3,669 0
Return of capital from unconsolidated joint venture 19 458 0
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (4,387) 3,173 (33,422)
FINANCING ACTIVITIES      
Proceeds from issuance of 7.50% Convertible Notes 0 100,000 0
Net proceeds from issuance of common stock 0 0 0
Repurchase 4.50% Convertible Notes 0 (59,402) 0
Principal payments of real estate borrowings 0 (12,501) (57,681)
Payment of withholding taxes related to restricted stock and units withheld (821) (261) (89)
Debt Issuance costs (1,683) (4,627) 0
Contributions from consolidated joint venture partner 13,779 0 0
Distributions to consolidated joint venture partner (3,076) 0 0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 8,199 23,209 (57,770)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (44,501) 8,814 (101,630)
Cash and cash equivalents at beginning of year 124,316 115,502 217,132
CASH AND CASH EQUIVALENTS AT END OF YEAR 79,815 124,316 115,502
NON-CASH FINANCING ACTIVITIES      
Notes, mortgage notes and other debt from the JEN Transaction $ 0 $ 0 $ 14,301