Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2015

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Consolidating Balance Sheet

	Supplemental Condensed Consolidated Balance Sheet
	As of March 31, 2015  (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	CCS		Subsidiaries		Subsidiaries		Entries		CCS
Assets
Cash and cash equivalents	$	14,378	$	12,269	$	—	$	—	$	26,647
Accounts receivable		855		17,950		—		—		18,805
Investment in subsidiaries		609,424		—		—		(609,424)		—
Inventories		—		599,747		—		—		599,747
Prepaid expenses and other assets		7,176		21,027		—		—		28,203
Property and equipment, net		772		12,647		—		—		13,419
Deferred tax asset, net		1,812		—		—		—		1,812
Amortizable intangible assets, net		—		7,543		—		—		7,543
Goodwill		—		21,994		—		—		21,994
Total assets	$	634,417	$	693,177	$	—	$	(609,424)	$	718,170
Liabilities and stockholders’ equity
Liabilities:
Accounts payable	$	—	$	9,483	$	—	$	—	$	9,483
Accrued expenses and other liabilities		8,152		65,601		—		—		73,753
Note payable and revolving line of credit		253,652		8,669		—		—		262,321
Total liabilities		261,804		83,753		—		—		345,557
Stockholders’ equity:		372,613		609,424		—		(609,424)		372,613
Total liabilities and stockholders’ equity	$	634,417	$	693,177	$	—	$	(609,424)	$	718,170

	Supplemental Condensed Consolidated Balance Sheet
	As of December 31, 2014 (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	CCS		Subsidiaries		Subsidiaries		Entries		CCS
Assets
Cash and cash equivalents	$	22,710	$	10,752	$	—	$	—	$	33,462
Accounts receivable		1,202		12,597		—		—		13,799
Investment in subsidiaries		558,177		—		—		(558,177)		—
Inventories		—		556,323		—		—		556,323
Prepaid expenses and other assets		7,286		21,510		—		—		28,796
Property and equipment, net		641		11,830		—		—		12,471
Deferred tax asset, net		1,359		—		—		—		1,359
Amortizable intangible assets, net		—		8,632		—		—		8,632
Goodwill		—		21,137		—		—		21,137
Total assets	$	591,375	$	642,781	$	—	$	(558,177)	$	675,979
Liabilities and stockholders’ equity
Liabilities:
Accounts payable	$	70	$	17,065	$	—	$	—	$	17,135
Accrued expenses and other liabilities		7,495		56,534		—		—		64,029
Note payable and revolving line of credit		218,605		11,005		—		—		229,610
Total liabilities		226,170		84,604		—		—		310,774
Stockholders’ equity:		365,205		558,177		—		(558,177)		365,205
Total liabilities and stockholders’ equity	$	591,375	$	642,781	$	—	$	(558,177)	$	675,979

Supplemental Condensed Consolidating Statement of Operations

		Supplemental Condensed Consolidated Statement of Operations
	For the Three Months Ended March 31, 2015  (in thousands)
				Guarantor		Non Guarantor		Elimination		Consolidated
		CCS		Subsidiaries		Subsidiaries		Entries		CCS
Revenue
Home sales revenues		$	—	$	154,335	$	—	$	—	$	154,335
Golf course and other revenue			—		2,103		—		—		2,103
Total revenue			—		156,438		—		—		156,438
Costs and expenses
Cost of homes sales revenues			—		124,806		—		—		124,806
Cost of golf course and other revenue			—		1,506		—		—		1,506
Selling, general and administrative			4,884		16,048		—		—		20,932
Total operating costs and expenses			4,884		142,360		—		—		147,244
Operating income			(4,884)		14,078		—		—		9,194
Other income (expense)
Equity in earnings from consolidated subsidiaries			9,356		—		—		(9,356)		—
Interest income			14		2		—		—		16
Interest expense			—		(3)		—		—		(3)
Acquisition expense			—		—		—		—		—
Other income			—		317		—		—		317
Income before tax expense			4,486		14,394		—		(9,356)		9,524
Income tax expense			(1,865)		5,038		—		—		3,173
Net income		$	6,351	$	9,356	$	—	$	(9,356)	$	6,351

	Supplemental Condensed Consolidated Statement of Operations
	For the Three Months Ended March 31, 2014  (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	CCS		Subsidiaries		Subsidiaries		Entries		CCS
Revenue
Home sales revenues	$	—	$	49,671	$	—	$	—	$	49,671
Golf course and other revenue		—		—		—		—		—
Total revenue		—		49,671		—		—		49,671
Cost of home sale revenues
Cost of homes sales revenues		—		37,274		—		—		37,274
Cost of golf course and other revenue		—		—		—		—		—
Selling, general and administrative		2,044		4,959		—		—		7,003
Total operating costs and expenses		2,044		42,233		—		—		44,277
Operating income		(2,044)		7,438		—		—		5,394
Other income (expense)
Equity in earnings from consolidated subsidiaries		4,963		—		—		(4,963)		—
Interest income		—		69		—		—		69
Interest expense		—		—		—		—		—
Acquisition expense		(395)		—		—		—		(395)
Other income		—		128		—		—		128
Income before tax expense		2,524		7,635		—		(4,963)		5,196
Income tax expense		(844)		2,672		—		—		1,828
Net income	$	3,368	$	4,963	$	—	$	(4,963)	$	3,368

Supplemental Condensed Consolidating Statement of Operations Statement of Cash Flow

	Supplemental Condensed Consolidated Statement of Cash Flows
	For the Three Months Ended March 31, 2015 (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	CCS		Subsidiaries		Subsidiaries		Entries		CCS
Net cash used in operating activities	$	(1,270)	$	(36,503)	$	—	$		$	(37,773)
Net cash used in investing activities	$	(41,677)	$	(1,069)	$	—	$	41,531	$	(1,215)
Financing activities
Borrowings under revolving credit facilities	$	35,000	$		$	—	$		$	35,000
Principal payments				(2,442)		—				(2,442)
Debt issuance costs		(385)				—				(385)
Payments from (and advances to) parent/subsidiary				41,531		—		(41,531)		—
Net cash provided by financing activities	$	34,615	$	39,089	$	—	$	(41,531)	$	32,173
Net increase (decrease) in cash and cash equivalents	$	(8,332)	$	1,517	$	—	$	—	$	(6,815)
Cash and cash equivalents
Beginning of period	$	22,710	$	10,752	$	—	$		$	33,462
End of period	$	14,378	$	12,269	$	—	$	—	$	26,647

	Supplemental Condensed Consolidated Statement of Cash Flows
	For the Three Months Ended March 31, 2014 (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	CCS		Subsidiaries		Subsidiaries		Entries		CCS
Net cash used in operating activities	$	1,432	$	(20,220)	$	—	$	—	$	(18,788)
Net cash used in investing activities	$	(22,771)	$	(76)	$	—	$	17,771	$	(5,076)
Financing activities
Borrowings under revolving credit facilities	$	99,000	$	—	$	—	$	—	$	99,000
Principal payments		—		—		—		—		—
Debt issuance costs		—		—		—		—		—
Payments from (and advances to) parent/subsidiary		—		17,771		—		(17,771)		—
Net cash provided by financing activities		99,000		17,771		—		(17,771)		99,000
Net increase (decrease) in cash and cash equivalents	$	77,661	$	(2,525)	$	—	$	—	$	75,136
Cash and cash equivalents
Beginning of period		106,614		3,384		—		—		109,998
End of period	$	184,275	$	859	$	—	$	—	$	185,134