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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (125,082) $ 31,925
Adjustments to reconcile net (loss) income to cash provided by (used in) operating activities:    
Depreciation 57,349 32,905
Amortization 4,075 3,086
Amortization of deferred financing costs 4,114 2,201
Amortization of intangibles other than in-place leases 170 278
Straight-line rent amortization (2,870) (1,548)
Deferred income taxes (34,625) 10,703
Restricted stock and stock option amortization 1,152 3,069
Net gain on sale of lease receivable (38,124) 0
Selling profit from sales-type leases 64,155 0
Impairment charges 48,738 0
Equity in earnings from real estate and other affiliates, net of distributions (5,817) (4,606)
Provision for doubtful accounts (3,115) (2)
Master Planned Communities land acquisitions 0 (752)
Master Planned Communities development expenditures (64,895) (56,772)
Master Planned Communities cost of sales 16,783 16,744
Condominium development expenditures (60,688) (40,559)
Condominium rights and unit cost of sales 97,901 137,694
Net changes:    
Accounts and notes receivable 9,596 (5,679)
Prepaid expenses and other assets (31,565) 1,881
Condominium deposits received 46,186 (115,774)
Deferred expenses (9,176) (17,191)
Accounts payable and accrued expenses (47,443) (57,286)
Cash used in operating activities (73,181) (59,683)
Cash Flows from Investing Activities:    
Property and equipment expenditures (270) (1,178)
Operating property improvements (10,419) (25,854)
Property development and redevelopment (144,422) (148,894)
Reimbursements under Tax Increment Financings 1,625 0
Distributions from real estate and other affiliates 1,232 315
Investments in real estate and other affiliates, net (952) (222)
Cash used in investing activities (153,206) (175,833)
Cash Flows from Financing Activities:    
Proceeds from mortgages, notes and loans payable 256,770 61,614
Proceeds from issuance of common stock 593,698 0
Principal payments on mortgages, notes and loans payable (5,115) (4,587)
Special Improvement District bond funds released from (held in) escrow 1,126 936
Deferred financing costs and bond issuance costs, net (2,276) (343)
Taxes paid on stock options exercised and restricted stock vested (662) 0
Stock options exercised 1,424 0
Contributions from noncontrolling interest 0 40,987
Cash provided by financing activities 844,965 98,607
Net change in cash, cash equivalents and restricted cash 618,578 (136,909)
Cash, cash equivalents and restricted cash at beginning of period 620,135 724,215
Cash, cash equivalents and restricted cash at end of period 1,238,713 587,306
Supplemental Disclosure of Cash Flow Information:    
Interest paid 62,679 52,905
Interest capitalized 19,041 18,370
Income taxes (refunded) paid, net 0 (1,839)
Non-Cash Transactions:    
Accrued property improvements, developments, and redevelopments (28,221) 24,774
Special Improvement District bond transfers associated with land sales 3 74
Accrued interest on construction loan borrowing 4,773 860
Capitalized stock compensation $ 0 441
Initial recognition of ASC 842 Operating lease ROU asset   72,106
Initial recognition of ASC 842 Operating lease obligation   $ 71,888