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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Condominium rights and unit sales $ 148,211 $ 125,112 $ 228,356 $ 247,206
Master Planned Community land sales 69,144 61,098 122,625 103,040
Minimum rents 45,073 42,036 91,399 83,345
Tenant recoveries 11,642 10,923 23,041 21,451
Hospitality revenues 19,703 19,129 39,414 32,038
Builder price participation 4,480 6,501 9,141 11,148
Other land revenues 4,463 4,122 15,045 8,170
Other rental and property revenues 5,923 4,593 11,380 7,797
Total revenues 308,639 273,514 540,401 514,195
Expenses:        
Condominium rights and unit cost of sales 106,195 79,726 166,678 154,541
Master Planned Community cost of sales 33,376 29,008 59,245 44,696
Master Planned Community operations 7,307 9,169 16,701 19,778
Other property operating costs 20,291 15,236 38,799 30,978
Rental property real estate taxes 6,550 7,329 14,087 14,077
Rental property maintenance costs 3,608 2,753 6,636 5,885
Hospitality operating costs 14,164 14,242 28,009 24,717
Provision for doubtful accounts 745 (352) 1,280 2,689
Demolition costs 63 490 128 962
Development-related marketing costs 4,716 6,339 8,921 10,870
General and administrative 22,944 20,053 41,061 40,377
Depreciation and amortization 34,770 24,952 60,294 47,924
Total expenses 254,729 208,945 441,839 397,494
Operating income before other items 53,910 64,569 98,562 116,701
Other:        
Gains on sales of properties     32,215 140,479
Other income, net 223 9,067 910 9,426
Total other 223 9,067 33,125 149,905
Operating income 54,133 73,636 131,687 266,606
Interest income 785 435 1,407 704
Interest expense (14,448) (16,533) (32,306) (32,526)
Loss on redemption of senior notes due 2021     (46,410)  
Warrant liability loss (30,881) (44,150) (43,443) (14,330)
Gain on acquisition of joint venture partner's interest     5,490  
Equity in earnings from Real Estate and Other Affiliates 9,834 20,275 18,354 22,207
Income before taxes 19,423 33,663 34,779 242,661
Provision for income taxes 16,303 26,693 26,000 91,926
Net income 3,120 6,970 8,779 150,735
Net income attributable to common stockholders $ 3,120 $ 6,970 $ 8,779 $ 150,735
Basic income per share: (in dollars per share) $ 0.08 $ 0.18 $ 0.22 $ 3.82
Diluted income per share: (in dollars per share) $ 0.07 $ 0.16 $ 0.20 $ 3.53