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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 14,802 $ 10,132
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 3,985 4,390
Stock based compensation 19 56
Gain on sale of investments (10,861) 0
Other-than-temporary impairment loss 366 0
Deferred income tax expense 3,488 650
Cost of real estate sold 3,426 3,951
Expenditures for and acquisition of real estate to be sold (5,021) (1,736)
Accretion income and other (1,899) (778)
Loss on disposal of real estate and property and equipment 29 5
Changes in operating assets and liabilities:    
Notes receivable (808) 157
Claim settlement receivable 0 (12,651)
Other assets (2,316) (141)
Other liabilities 14,093 6,544
Income taxes receivable 26,671 1,272
Net cash provided by operating activities 45,974 11,851
Cash flows from investing activities:    
Expenditures for operating property (15,646) (2,662)
Expenditures for property and equipment (1,271) (408)
Proceeds from the disposition of assets 0 3
Purchases of investments (93,821) (216,698)
Maturities of investments 0 185,000
Sales of investments 110,389 8,413
Maturities of assets held by special purpose entities 415 415
Net cash provided by (used in) investing activities 66 (25,937)
Cash flows from financing activities:    
Capital contribution from non-controlling interest 141 0
Repurchase of common shares (40,444) (14,820)
Borrowings on construction loan 1,188 0
Principal payments for debt (838) (384)
Debt issue costs (20) 0
Net cash used in financing activities (39,973) (15,204)
Net increase (decrease) in cash and cash equivalents 6,067 (29,290)
Cash and cash equivalents at beginning of the period 241,111 212,773
Cash and cash equivalents at end of the period 247,178 183,483
Cash paid during the period for:    
Interest expense 5,819 5,859
Income taxes 2,312 2,300
Non-cash financing and investing activities:    
Increase in Community Development District debt 73 57
Expenditures for operating properties and property and equipment financed through accounts payable $ 6,098 $ 577