XML 18 R5.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Operating activities          
Net income $ 15,495 $ 33,193 $ 32,612 $ 53,212  
Adjustments to reconcile net income to net cash used in operating activities:          
Depreciation and amortization     6,196 5,512  
Stock-based compensation expense     7,468 6,323  
Loss on debt extinguishment 10,832   10,832    
Deferred income taxes     428 (989)  
Distributions from unconsolidated subsidiaries       7,432  
Equity in income of unconsolidated subsidiaries   (11,681)   (14,849)  
(Gain) loss on disposition of assets     526 230  
Changes in assets and liabilities:          
Cash held in escrow     (1,495) (5,897)  
Accounts receivable     (2,535) (6,199)  
Inventories     (121,734) (124,863)  
Prepaid expenses and other assets     (5,041) (2,404)  
Accounts payable     7,137 22,260  
Accrued expenses and other liabilities     (18,428) (15,634)  
Mortgage loans held for sale     (8,965) (5,026)  
Net cash provided by (used in) operating activities     (92,999) (80,892)  
Investing activities          
Purchases of property and equipment     (6,274) (7,534)  
Business combinations, net of acquired cash       (28,036)  
Other investing activities     59 322  
Net cash provided by (used in) investing activities     (6,215) (35,248)  
Financing activities          
Borrowings under revolving credit facilities     767,600 305,000  
Payments on revolving credit facilities     (758,100) (175,000)  
Proceeds from issuance of senior notes due 2027     500,000    
Extinguishment of senior notes due 2022     (391,942)    
Extinguishments of debt assumed in business combination       (94,231)  
Debt issuance costs     (5,728) (3,521)  
Proceeds from issuance of insurance premium notes and other     9,301    
Principal payments on insurance notes payable     (17,586)    
Net proceeds from mortgage repurchase facilities     (3,805) 4,679  
Net proceeds from issuances of common stock     2,663 14,309  
Repurchases of common stock upon vesting of stock based compensation     (3,434) (4,788)  
Repurchases of common stock under our stock repurchase program     (1,439)    
Net cash provided by (used in) financing activities     97,530 46,448  
Net increase (decrease)     (1,684) (69,692)  
Cash and cash equivalents and Restricted cash, Beginning of period     36,441 93,713 $ 93,713
Cash and cash equivalents and Restricted cash, End of period 34,757 24,021 34,757 24,021 36,441
Supplemental cash flow disclosure          
Cash paid for income taxes     13,111 26,323  
Cash and cash equivalents and Restricted cash          
Cash and cash equivalents 31,704 19,482 31,704 19,482 $ 32,902
Restricted cash (Note 6) $ 3,053 $ 4,539 $ 3,053 $ 4,539