Operating Segments (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents our profit by reportable segment:


	For the Year Ended December 31,
	2023		2022		2021
Residential Segment
Revenue	$	32,608	$	17,828	$	14,495
Operating expenses	(17,749)		(9,524)		(8,167)
Profit from segment	14,859		8,304		6,328
Commercial Segment
Revenue	14,415		16,252		23,313
Operating expenses	(10,147)		(8,815)		(12,693)
Profit from segment	4,268		7,437		10,620
Total profit from all segments	$	19,127	$	15,741	$	16,948

The following table reconciles our profit by reportable segment to net income:


	For the Year Ended December 31,
	2023		2022		2021
Profit from reportable segments	$	19,127	$	15,741	$	16,948
Other non-segment items of income (expense)
Depreciation and amortization	(13,646)		(9,686)		(11,870)
General and administrative	(9,199)		(9,943)		(12,425)
Advisory fee to related party	(9,156)		(7,974)		(11,782)
Other income	2,882		2,580		2,966
Interest income	30,020		24,248		17,951
Interest expense	(9,291)		(17,316)		(22,979)
Gain (loss) on foreign currency transactions	993		20,067		(6,175)
Loss on early extinguishment of debt	(1,710)		(2,805)		(1,451)
Equity in income from unconsolidated joint venture	1,060		468,086		14,531
(Loss) gain on sale, remeasurement or write down of assets, net	(1,891)		89,196		23,352
Income tax provision	(1,939)		(103,190)		1,011
Net income	$	7,250	$	469,004	$	10,077

The table below reconciles our segment information to the corresponding amounts in our consolidated balance sheets:


	December 31,
	2023		2022
Segment assets	$	462,419	$	448,995
Real estate	69,139		80,055
Investment in unconsolidated joint venture	555		20,904
Notes receivable	133,837		129,304
Receivable from related parties	136,211		147,142
Cash, short-term investments and other non-segment assets	240,883		391,765
Total assets	$	1,043,044	$	1,218,165