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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (62,425) $ 4,817
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation 140,867 146,345
Amortization 12,408 14,082
Amortization of deferred financing costs 7,676 10,392
Amortization of intangibles other than in-place leases 2,024 510
Straight-line rent amortization (6,547) (10,277)
Deferred income taxes (17,975) 1,186
Restricted stock and stock option amortization 7,432 4,000
Net gain on sale of properties (60,479) 0
Net gain on sale of lease receivable 0 (38,124)
Proceeds from the sale of lease receivable 0 64,155
(Gain) loss on extinguishment of debt 37,543 9,604
Impairment charges 13,799 60,762
Equity in (earnings) losses from real estate and other affiliates, net of distributions 23,000 (267,168)
Provision for doubtful accounts (1,175) 16,835
Master Planned Community development expenditures (215,559) (160,217)
Master Planned Community cost of sales 55,445 55,470
Condominium development expenditures (240,228) (175,536)
Condominium rights and units cost of sales 66,033 99,314
Net Changes:    
Accounts and notes receivable (17,737) (17,514)
Prepaid expenses and other assets (15,008) (37,345)
Condominium deposits received 240,730 102,606
Deferred expenses (14,115) (20,716)
Accounts payable and accrued expenses 3,891 (32,979)
Cash provided by (used in) operating activities (40,400) (169,798)
CASH FLOWS FROM INVESTING ACTIVITIES    
Property and equipment expenditures (1,223) (830)
Operating property improvements (27,064) (28,490)
Property development and redevelopment (178,734) (379,219)
Proceeds from sales of properties 299,085 0
Reimbursements under tax increment financings 667 4,887
Distributions from real estate and other affiliates 85,008 2,049
Investments in real estate and other affiliates, net (837) (2,919)
Cash provided by (used in) investing activities 176,902 (404,522)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from mortgages, notes and loans payable 1,870,378 1,324,360
Principal payments on mortgages, notes and loans payable (1,758,772) (861,975)
Proceeds from issuance of common stock 0 593,617
Debt extinguishment costs (29,793) 0
Special Improvement District bond funds released from (held in) escrow 7,939 4,562
Deferred financing costs and bond issuance costs, net (22,240) (16,399)
Taxes paid on stock options exercised and restricted stock vested (2,344) (844)
Stock options exercised 3,902 1,365
Cash provided by (used in) financing activities 69,070 1,044,686
Net change in cash, cash equivalents and restricted cash 205,572 470,366
Cash, cash equivalents and restricted cash at beginning of period 1,242,997 620,135
Cash, cash equivalents and restricted cash at end of period 1,448,569 1,090,501
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 159,583 154,448
Interest capitalized 54,287 53,699
Income taxes paid (refunded), net 1,789 312
NON-CASH TRANSACTIONS    
Initial recognition of ASC 842 operating leases ROU asset 0 493
Initial recognition of ASC 842 operating lease obligation 0 493
Accrued property improvements, developments and redevelopments 21,973 (88,867)
Special Improvement District bond transfers associated with land sales 8,484 3,090
Special Improvement District bonds held in third-party escrow 45,425 22,750
Accrued interest on construction loan borrowing 0 9,743
Capitalized stock compensation $ 1,538 $ 1,107