Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Application of New Revenue Standard

The effect of the changes made to the Company’s consolidated statement of cash flow line items from the adoption of ASU No. 2016-18 were as follows (in thousands):

	Year Ended December 31, 2017
	As Previously Reported		Adjustments due to ASU No. 2016-18			As Adjusted
CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease in restricted cash and certificates of deposits	$	876	$	(876	)	$	—
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	786,174		(876		)	785,298
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period	62,304		2,343			64,647
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period	848,478		1,467			849,945

	Year Ended December 31, 2016
	As Previously Reported			Adjustments due to ASU No. 2016-18			As Adjusted
CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease in restricted cash and certificates of deposits	$	1,574		$	(1,574	)	$	—
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(46,353		)	(1,574		)	(47,927		)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period	108,657			3,917			112,574
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period	62,304			2,343			64,647

The application of the new revenue standard had the following impacts to the financial statement line items in the Company’s consolidated financial statements (in thousands):

Statement of Operations
	Year Ended December 31, 2018
	As Reported			Balances without Adoption of ASC 606			Effect of Change
REVENUES:
Land sales	$	133		$	486		$	(353	)
Land sales—related party	900			497			403
Management services—related party	40,976			23,055			17,921
Operating properties	6,981			6,667			314
COSTS AND EXPENSES:
Land sales	(165		)	(378		)	213
Management services	23,962			11,506			12,456
Operating properties	5,077			4,935			142
EQUITY IN (LOSS) EARNINGS FROM UNCONSOLIDATED ENTITIES	(2,163		)	(2,399		)	236
NET LOSS	(67,945		)	(73,654		)	5,709
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	(33,231		)	(36,023		)	2,792
NET LOSS ATTRIBUTABLE TO THE COMPANY	(34,714		)	(37,631		)	2,917

Balance Sheet
	December 31, 2018
	As Reported		Balances without Adoption of ASC 606		Effect of Change
ASSETS
Inventories	$	1,696,084	$	1,698,630	$	(2,546	)
Investment in unconsolidated entities	532,899		529,596		3,303
Intangible asset, net—related party	95,917		127,593		(31,676		)
Related party assets	61,039		11,205		49,834
Other assets	9,179		8,522		657
LIABILITIES
Accounts payable and other liabilities	161,139		162,588		(1,449		)
Related party liabilities	178,540		187,873		(9,333		)
CAPITAL
Retained earnings	33,811		20,210		13,601
Noncontrolling interest	1,261,491		1,244,738		16,753