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Basis of Presentation and Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Basis of Presentation and Significant Accounting Policies [Abstract]  
Schedule of Deferred Income



 

 

 

 

 

 



 

 

 

 

 

 



 

As of December 31,



 

2017

 

2016



 

 

 

 

 

 

Deferred sampler program income

 

$

10,056 

 

$

11,821 

Deferred VOI sales revenue

 

 

22,461 

 

 

21,126 

Other deferred income

 

 

3,794 

 

 

4,068 

Total

 

$

36,311 

 

$

37,015 



Expected Impacts To Reported Results





 



 

 

 

 

 

 

 

 



 

As of and for the Year ended December 31, 2017



 

As Reported Herein

 

 

New Revenue Standard Adjustment

 

 

As Adjusted

Balance Sheet:

 

 

 

 

 

 

 

 

Notes receivable, net

$

431,801 

 

$

(4,507)

 

$

427,294 

Deferred income

 

36,311 

 

 

(19,418)

 

 

16,893 

Deferred income taxes

 

83,628 

 

 

3,647 

 

 

87,275 

Total shareholders' equity

$

424,517 

 

$

11,264 

 

$

435,781 



 

 

 

 

 

 

 

 

Income Statement:

 

 

 

 

 

 

 

 

Sales of VOIs

$

239,662 

 

$

12,633 

 

$

252,295 

Reimbursement revenue

 

 —

 

 

52,639 

 

 

52,639 

Cost of reimbursement

 

 —

 

 

52,639 

 

 

52,639 

Cost of VOIs sold

 

17,439 

 

 

240 

 

 

17,679 

Selling, general and administrative expenses

 

416,970 

 

 

453 

 

 

417,423 

Income before non-controlling interest and provision
for income taxes

 

135,336 

 

 

11,940 

 

 

147,276 

Provision for income taxes

 

(2,974)

 

 

2,464 

 

 

(510)

Net income

 

138,310 

 

 

9,476 

 

 

147,786 

   Less: Net income attributable to non-controlling interest

 

12,784 

 

 

463 

 

 

13,247 

Net income attributable to Bluegreen Vacations Corporation
shareholders

$

125,526 

 

$

9,013 

 

$

134,539 

Basic and diluted earnings per share

$

1.76 

 

$

0.13 

 

$

1.89 







 

 

 

 

 

 

 

 



 

As of and for the Year ended December 31, 2016



 

As Reported Herein

 

 

New Revenue Standard Adjustment

 

 

As Adjusted

Balance Sheet:

 

 

 

 

 

 

 

 

Notes receivable, net

$

430,480 

 

$

(4,600)

 

$

425,880 

Deferred income

 

37,015 

 

 

(17,493)

 

 

19,522 

Deferred income taxes

 

126,278 

 

 

4,734 

 

 

131,012 

Total shareholders' equity

$

290,208 

 

$

8,160 

 

$

298,368 



 

 

 

 

 

 

 

 

Income Statement:

 

 

 

 

 

 

 

 

Sales of VOIs

$

266,142 

 

$

14,781 

 

$

280,923 

Reimbursement revenue

 

 —

 

 

49,557 

 

 

49,557 

Cost of reimbursement

 

 —

 

 

49,557 

 

 

49,557 

Cost of VOIs sold

 

27,346 

 

 

1,483 

 

 

28,829 

Selling, general and administrative expenses

 

415,027 

 

 

1,572 

 

 

416,599 

Income before non-controlling interest and provision
for income taxes

 

124,948 

 

 

11,726 

 

 

136,674 

Provision for income taxes

 

40,172 

 

 

4,276 

 

 

44,448 

Net income

 

84,776 

 

 

7,450 

 

 

92,226 

   Less: Net income attributable to non-controlling interest

 

9,825 

 

 

401 

 

 

10,226 

Net income attributable to Bluegreen Vacations Corporation
shareholders

$

74,951 

 

$

7,049 

 

$

82,000 

Basic and diluted earnings per share

$

1.06 

 

$

0.10 

 

$

1.16