Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The financial results of Douglas Elliman through the completion of the Distribution are presented as income from discontinued operations, net of income taxes on the Company’s condensed consolidated statements of operations. The following table presents financial results of Douglas Elliman for the periods prior to the completion of the Distribution:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(Dollars in thousands)
Revenues:
Real estate	$	—	$	354,161	$	—	$	1,018,912
Expenses:
Cost of sales	—		259,646		—		744,800
Operating, selling, administrative and general expenses	—		69,000		—		191,186
Operating income	—		25,515		—		82,926
Other income (expenses):
Interest expense	—		(61)		—		(134)
Equity in earnings from real estate ventures	—		(175)		—		(100)
Other, net	—		481		—		(2,506)
Pretax income from discontinued operations	—		25,760		—		80,186
Income tax expense	—		6,903		—		22,598
Net income from discontinued operations	—		18,857		—		57,588
Net loss from discontinued operations attributed to non-controlling interest	—		120		—		120
Net income attributed to Douglas Elliman Inc.	$	—	$	18,977	$	—	$	57,708

The following table presents the information regarding certain components of cash flows from discontinued operations:

	Nine Months Ended September 30,
	2022		2021
	(Dollars in thousands)
Depreciation and amortization	$	—	$	6,408
Non-cash lease expense	—		13,833
Capital expenditures	—		(2,693)