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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net income $ 8,779 $ 150,735
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation 51,779 41,126
Amortization 8,515 6,798
Amortization of deferred financing costs 2,940 3,747
Amortization of intangibles other than in-place leases (791) (710)
Straight-line rent amortization (2,553) (5,187)
Deferred income taxes 24,440 85,927
Restricted stock and stock option amortization 3,407 4,670
Gains on sales of properties (32,215) (140,479)
Gain on acquisition of joint venture partner's interest (5,490)  
Warrant liability loss (gain) 43,443 14,330
Loss on redemption of senior notes due 2021 46,410  
Equity in earnings from Real Estate and Other Affiliates, net of distributions (13,440) (8,212)
Provision for doubtful accounts 1,280 2,689
Master Planned Community land acquisitions (1,415) (69)
Master Planned Community development expenditures (90,973) (70,678)
Master Planned Community cost of sales 53,240 41,310
Condominium development expenditures (191,499) (155,222)
Condominium rights and unit cost of sales 166,678 154,541
Percentage of completion revenue recognition from sale of condominium rights and unit sales (228,356) (247,206)
Net changes:    
Accounts receivable 272 (3,230)
Prepaid expenses and other assets (7,949) 2,616
Condominium deposits received 31,872 51,573
Deferred expenses (9,672) (1,659)
Accounts payable and accrued expenses (40,526) (24,798)
Condominium deposits held in escrow (31,872) (51,573)
Condominium deposits released from escrow 116,244 15,661
Other, net (191) (3,535)
Cash used in operating activities (97,643) (136,835)
Cash Flows from Investing Activities:    
Property and equipment expenditures (4,814) (7,339)
Operating property improvements (8,967) (5,712)
Property developments and redevelopments (195,189) (214,276)
Acquisition of partner's interest in Las Vegas 51s (15,404)  
Proceeds for reimbursement of development costs 11,165 2,915
Proceeds from sales of properties 36,000 378,257
Distributions from Real Estate and Other Affiliates   12,002
Note issued to Real Estate Affiliate   (25,000)
Proceeds from repayment of note to Real Estate Affiliate   25,000
Investments in Real Estate and Other Affiliates, net (1,391) (11,813)
Change in restricted cash (3,919) 4,658
Proceeds from insurance claims   3,107
Cash (used in) provided by investing activities (182,519) 161,799
Cash Flows from Financing Activities:    
Proceeds from mortgages, notes and loans payable 1,399,843 207,561
Principal payments on mortgages, notes and loans payable (1,085,438) (4,492)
Premium paid to redeem 2021 senior notes (39,966)  
Special Improvement District bond funds released from (held in) escrow 1,602  
Deferred financing costs (11,383) (1,303)
Taxes paid on vested stock options and restricted stock (9,029) (1,231)
Stock options exercised 19,109  
Cash provided by financing activities 274,738 200,535
Net change in cash and cash equivalents (5,424) 225,499
Cash and cash equivalents at beginning of period 665,510 445,301
Cash and cash equivalents at end of period 660,086 670,800
Supplemental Disclosure of Cash Flow Information:    
Interest paid 60,566 57,335
Interest capitalized 35,291 28,681
Income taxes paid 1,873 3,067
Non-Cash Transactions:    
Exercise of Sponsor and Management Warrants 375,613  
Special Improvement District bond transfers associated with land sales 6,005 3,386
Accrued interest on construction loan borrowing 2,522 3,005
Capitalized stock compensation 765 $ 1,387
Acquisition of Las Vegas 51s    
Building 87  
Developments 65  
Accounts receivable 633  
Other assets 33,313  
Other liabilities $ (2,294)