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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 38,692 $ 30,622 $ 75,020
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 12,631 10,608 10,607
Non-cash stock-based expense 2,519 5,563 3,183
Acceleration of interest expense related to debt conversion 12,414 14,960 1,217
(Gain) loss on sale of assets 170 0 (43)
Deferred income taxes 466 (7,336) 9,366
Gain on sale of townhomes 0 0 (3,843)
Gain on liquidation of long-term investments accounted for at cost 0 0 (25,832)
Loss (income) on long-term investments accounted under the equity method (2,066) 1,261 859
Gain on sale of marketable securities (5,152) (1,640) (23,257)
Equity income in non-consolidated real estate businesses (22,925) (29,764) (19,966)
Distributions from non-consolidated real estate businesses 4,251 19,169 9,322
Non-cash interest expense 22,995 28,150 7,373
Loss (gain) on warrants (1,165) 1,193 (700)
Non-cash interest income (861) 0 0
Gain on acquisition of Douglas Elliman (60,842) 0 0
Changes in assets and liabilities:      
Receivables 5,975 13,622 (23,020)
Inventories 6,897 8,837 (2,149)
Accounts payable and accrued liabilities 41,047 4,497 (3,216)
Payments due under the Master Settlement Agreement (32,690) (14,903) 26,419
Other assets and liabilities, net 29,670 (753) (5,299)
Net cash provided by operating activities 52,026 84,086 36,041
Cash flows from investing activities:      
Proceeds from sale or maturity of investment securities 117,729 3,831 31,643
Purchase of investment securities (170,964) (5,647) (5,039)
Proceeds from sale or liquidation of long-term investments 580 72 66,190
Purchase of long-term investments (5,000) (5,000) (10,000)
Proceeds from sale of townhomes, net 0 0 19,629
Increase in restricted assets 1,081 (1,130) (96)
Investments in non-consolidated real estate businesses (75,731) (33,375) (41,859)
Distributions from non-consolidated real estate businesses 3,142 49,221 8,450
Issuance of notes receivable (8,600) (383) (15,256)
Cash acquired in Aberdeen consolidation 116,935 0 0
Proceeds from sale of businesses and assets 48 444 205
Capital expenditures (13,275) (11,265) (11,838)
Increase in cash surrender value of life insurance policies (628) (907) (744)
Purchase of subsidiaries (67,616) 0 0
Repayment of notes receivable 10,347 0 0
Net cash (used in) provided by investing activities (91,952) (4,139) 41,285
Cash flows from financing activities:      
Proceeds from issuance of debt 457,767 244,075 6,419
Repayments of debt (422,581) (19,258) (4,960)
Deferred financing charges (11,750) (11,479) 0
Borrowings under revolver 978,788 1,074,050 1,064,270
Repayments on revolver (977,794) (1,066,092) (1,078,508)
Distributions on common stock (144,711) (137,114) (125,299)
Distributions to non-controlling interest (11,764) 0 0
Proceeds from the issuance of Vector stock 0 611 0
Proceeds from exercise of Vector options 544 140 1,029
Tax benefit of options exercised 38 52 821
Net cash provided by (used in) financing activities (131,463) 84,985 (136,228)
Net increase (decrease) in cash and cash equivalents (171,389) 164,932 (58,902)
Cash and cash equivalents, beginning of year 405,855 240,923 299,825
Cash and cash equivalents, end of year $ 234,466 $ 405,855 $ 240,923