Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

The table below sets forth the Company’s segment information as of and for the three months ended June 30, 2021 (in thousands):

Revenues:		BBX Capital Real Estate	BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Trade sales	$	—		10,198		34,378		1,956		—		46,532
Sales of real estate inventory		12,390		—		—		—		—		12,390
Interest income		500		36		—		—		1,131		1,667
Net gains on sales of real estate assets		204		—		—		—		—		204
Other revenue		438		—		—		575		(88)		925
Total revenues		13,532		10,234		34,378		2,531		1,043		61,718
Costs and expenses:
Cost of trade sales		—		6,556		30,362		649		—		37,567
Cost of real estate inventory sold		5,568		—		—		—		—		5,568
Interest expense		—		40		429		—		(175)		294
Recoveries from loan losses, net		(1,137)		—		—		—		—		(1,137)
Selling, general and administrative expenses		1,647		3,590		3,804		1,478		3,520		14,039
Total costs and expenses		6,078		10,186		34,595		2,127		3,345		56,331
Operating profits (losses)		7,454		48		(217)		404		(2,302)		5,387
Equity in net earnings of unconsolidated real estate joint ventures		4,443		—		—		—		—		4,443
Other (expense) income		(28)		19		—		—		138		129
Gain on the consolidation of IT'SUGAR, LLC		—		15,890		—		—		—		15,890
Foreign exchange gain		—		—		976		—		—		976
Income (loss) from continuing operations before income taxes	$	11,869		15,957		759		404		(2,164)		26,825
Total assets	$	169,987		132,566		106,889		7,026		120,191		536,659
Expenditures for property and equipment	$	—		16		1,364		90		366		1,836
Depreciation and amortization	$	—		315		632		40		18		1,005
Debt accretion and amortization	$	160		2		30		—		—		192
Cash and cash equivalents	$	43,768		10,309		682		2,049		45,043		101,851
Real estate equity method investments	$	55,288		—		—		—		—		55,288
Goodwill	$	—		13,860		6,936		—		—		20,796
Notes payable and other borrowings	$	16,883		14,432		45,961		35		(13,036)		64,275

The table below sets forth the Company’s segment information as of and for the three months ended June 30, 2020 (in thousands):

	BBX Capital Real Estate		BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Revenues:
Trade sales	$	—		5,248		17,175		627		—	23,050
Sales of real estate inventory		2,839		—		—		—		—	2,839
Interest income		81		13		—		—		(11)	83
Net gains on sales of real estate assets		13		—		—		—		—	13
Other revenue		327		85		—		224		(17)	619
Total revenues		3,260		5,346		17,175		851		(28)	26,604
Costs and expenses:
Cost of trade sales		—		9,045		13,852		372		—	23,269
Cost of real estate inventory sold		1,474		—		—		—		—	1,474
Interest expense		—		55		71		2		(128)	—
Recoveries from loan losses, net		(1,525)		—		—		—		—	(1,525)
Impairment losses		2,710		595		—		—		—	3,305
Selling, general and administrative expenses		1,125		5,740		2,035		713		4,105	13,718
Total costs and expenses		3,784		15,435		15,958		1,087		3,977	40,241
Operating (losses) income		(524)		(10,089)		1,217		(236)		(4,005)	(13,637)
Equity in net earnings of unconsolidated real estate joint ventures		145		—		—		—		—	145
Other income		—		75		—		—		—	75
Foreign exchange loss		—		—		(6)		—		—	(6)
(Loss) income from continuing operations before income taxes	$	(379)		(10,014)		1,211		(236)		(4,005)	(13,423)
Total assets	$	161,933		133,182		35,917		6,225		79,479	416,736
Expenditures for property and equipment	$	—		—		214		14		—	228
Depreciation and amortization	$	—		1,352		314		26		—	1,692
Debt accretion and amortization	$	58		107		2		—		—	167
Cash and cash equivalents	$	17,933		3,744		1,871		771		72,218	96,537
Real estate equity method investments	$	63,775		—		—		—		—	63,775
Goodwill	$	—		14,864		—		—		—	14,864
Notes payable and other borrowings	$	32,074		7,688		7,974		129		(6,251)	41,614

‎

The table below sets forth the Company’s segment information as of and for the six months ended June 30, 2021 (in thousands):

		BBX Capital Real Estate	BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Revenues:
Trade sales	$	—		15,180		73,069		4,197		—		92,446
Sales of real estate inventory		25,925		—		—		—		—		25,925
Interest income		975		36		—		—		2,306		3,317
Net gains on sales of real estate assets		309		—		—		—		—		309
Other revenue		836		—		—		1,005		(245)		1,596
Total revenues		28,045		15,216		73,069		5,202		2,061		123,593
Costs and expenses:
Cost of trade sales		—		10,384		63,018		1,058		—		74,460
Cost of real estate inventory sold		13,426		—		—		—		—		13,426
Interest expense		—		66		839		1		(322)		584
Recoveries from loan losses, net		(1,645)		—		—		—		—		(1,645)
Selling, general and administrative expenses		3,621		5,161		8,108		2,984		7,363		27,237
Total costs and expenses		15,402		15,611		71,965		4,043		7,041		114,062
Operating income (losses)		12,643		(395)		1,104		1,159		(4,980)		9,531
Equity in net earnings of unconsolidated real estate joint ventures		4,172		—		—		—		—		4,172
Other (expense) income		(28)		45		—		(1)		176		192
Gain on the consolidation of IT'SUGAR, LLC		—		15,890		—		—		—		15,890
Foreign exchange gain		—		—		496		—		—		496
Income (loss) from continuing operations before income taxes	$	16,787		15,540		1,600		1,158		(4,804)		30,281
Expenditures for property and equipment	$	—		19		1,601		102		380		2,102
Depreciation and amortization	$	—		396		1,263		70		67		1,796
Debt accretion and amortization	$	379		2		61		—		—		442

‎

The table below sets forth the Company’s segment information as of and for the six months ended June 30, 2020 (in thousands):

	BBX Capital Real Estate		BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Revenues:
Trade sales	$	—		26,577		34,621		2,738		—		63,936
Sales of real estate inventory		9,278		—		—		—		—		9,278
Interest income		185		27		—		—		(13)		199
Net losses on sales of real estate assets		(34)		—		—		—		—		(34)
Other revenue		787		204		—		473		(58)		1,406
Total revenues		10,216		26,808		34,621		3,211		(71)		74,785
Costs and expenses:
Cost of trade sales		—		23,815		28,127		1,107		—		53,049
Cost of real estate inventory sold		6,106		—		—		—		—		6,106
Interest expense		—		116		185		5		(306)		—
Recoveries from loan losses, net		(5,037)		—		—		—		—		(5,037)
Impairment losses		2,710		25,303		—		2,727		—		30,740
Selling, general and administrative expenses		3,461		16,640		4,653		2,416		7,868		35,038
Total costs and expenses		7,240		65,874		32,965		6,255		7,562		119,896
Operating income (losses)		2,976		(39,066)		1,656		(3,044)		(7,633)		(45,111)
Equity in net earnings of unconsolidated real estate joint ventures		696		—		—		—		—		696
Other income (expense)		—		114		(3)		—		—		111
Foreign exchange gain		—		—		272		—		—		272
Income (loss) from continuing operations before income taxes	$	3,672		(38,952)		1,925		(3,044)		(7,633)		(44,032)
Expenditures for property and equipment	$	—		2,924		605		45		—		3,574
Depreciation and amortization	$	—		2,785		620		51		—		3,456
Debt accretion and amortization	$	153		162		9		—		—		324