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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 4,817 $ 75,296
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:    
Depreciation 146,345 106,328
Amortization 14,082 7,584
Amortization of deferred financing costs 10,392 8,126
Amortization of intangibles other than in-place leases 510 618
Straight-line rent amortization (10,277) (4,833)
Deferred income taxes 1,186 23,191
Restricted stock and stock option amortization 4,000 9,902
Net gain on sales and acquisitions of properties 0 (24,201)
Net gain on sale of lease receivable (38,124) 0
Proceeds from the sale of lease receivable 64,155 0
Loss on extinguishment of debt 9,604 0
Selling profit from sales-type leases 0 (13,537)
Impairment charges 60,762 0
Equity in (earnings) losses from real estate and other affiliates, net of distributions (267,168) (12,260)
Provision for doubtful accounts 16,835 3,698
Master Planned Communities land acquisitions 0 (752)
Master Planned Communities development expenditures (160,217) (180,733)
Master Planned Communities cost of sales 55,470 78,040
Condominium development expenditures (175,536) (165,520)
Condominium rights and unit cost of sales 99,314 365,324
Net changes:    
Accounts and notes receivable (17,514) (2,544)
Prepaid expenses and other assets (37,345) (3,827)
Condominium deposits received 102,606 (93,530)
Deferred expenses (20,716) (29,613)
Accounts payable and accrued expenses (32,979) (9,561)
Cash (used in) provided by operating activities (169,798) 137,196
CASH FLOWS FROM INVESTING ACTIVITIES    
Property and equipment expenditures (830) (5,395)
Operating property improvements (28,490) (44,083)
Property development and redevelopment (379,219) (492,279)
Acquisition of assets 0 (579)
Proceeds from sales of properties 0 9,460
Proceeds from (reimbursements under) Tax Increment Financings 4,887 3,224
Distributions from real estate and other affiliates 2,049 315
Investments in real estate and other affiliates, net (2,919) (6,469)
Cash used in investing activities (404,522) (535,806)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from mortgages, notes and loans payable 1,324,360 638,686
Proceeds from issuance of common stock 593,617 0
Principal payments on mortgages, notes and loans payable (861,975) (196,081)
Special Improvement District bond funds released from (held in) escrow 4,562 1,777
Deferred financing costs and bond issuance costs, net (16,399) (14,468)
Taxes paid on stock options exercised and restricted stock vested (844) (987)
Stock options exercised 1,365 3,208
Issuance of noncontrolling interest 0  
Contributions from noncontrolling interest   84,889
Cash provided by financing activities 1,044,686 517,024
Net change in cash, cash equivalents and restricted cash 470,366 118,414
Cash, cash equivalents and restricted cash at beginning of period 620,135 724,215
Cash, cash equivalents and restricted cash at end of period 1,090,501 842,629
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 154,448 137,967
Interest capitalized 53,699 55,110
Income taxes paid (refunded), net 312 (409)
NON-CASH TRANSACTIONS    
Accrued property improvements, developments, and redevelopments (88,867) 33,151
Special Improvement District bond transfers associated with land sales 3,090 88
Special Improvement District bonds held in third party escrow 22,750 0
Accrued interest on construction loan borrowing 9,743 4,627
Capitalized stock compensation 1,107 1,325
Initial recognition of ASC 842 Operating lease ROU asset 493 72,106
Initial recognition of ASC 842 Operating lease obligation $ 493 $ 71,888