Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations And Comprehensive Income

v3.20.4
Consolidated Statements Of Operations And Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Revenue from customers $ 167,573 $ 185,368 $ 197,270
Interest income 2,399 811 2,338
Net gains on sales of real estate assets 255 13,616 4,563
Other revenue 3,002 3,929 4,394
Total revenues 173,229 203,724 208,565
Costs and Expenses:      
Interest expense 237 433 803
Recoveries from loan losses, net (8,876) (5,428) (8,653)
Impairment losses 30,772 189 4,718
Selling, general and administrative expenses 66,757 90,830 91,775
Total costs and expenses 228,213 213,227 226,126
Operating losses (54,984) (9,503) (17,561)
Equity in net earnings of unconsolidated real estate joint ventures 465 37,898 14,194
Loss on the deconsolidation of IT'SUGAR, LLC (3,326)    
Other income 290 665 277
Foreign exchange (loss) gain (692) (75) 68
(Loss) income from continuing operations before income taxes (58,247) 28,985 (3,022)
Benefit (provision) for income taxes 11,231 (8,334) (2,865)
(Loss) income from continuing operations (47,016) 20,651 (5,887)
Discontinued operation      
Loss from operations (91) (9,434) (4,529)
Benefit for income taxes 17 2,296 949
Loss from discontinued operations (74) (7,138) (3,580)
Net (loss) income (47,090) 13,513 (9,467)
Less: Net loss attributable to noncontrolling interests 4,803 224 266
Net (loss) income attributable to shareholders (42,287) 13,737 (9,201)
Other comprehensive income (loss), net of tax:      
Unrealized gain (loss) on securities available for sale 35 51 (46)
Foreign currency translation adjustments 241 287 (194)
Other comprehensive income (loss), net 276 338 (240)
Comprehensive (loss) income, net of tax (46,814) 13,851 (9,707)
Less: Comprehensive income attributable to noncontrolling interests 4,803 224 266
Comprehensive (loss) income attributable to shareholders $ (42,011) $ 14,075 $ (9,441)
Basic and diluted (loss) earnings per share from continuing operations $ (2.19) $ 1.08 $ (0.29)
Basic and diluted loss per share from discontinued operations   (0.37) (0.19)
Total basic and diluted (loss) earnings per share $ (2.19) $ 0.71 $ (0.48)
Weighted average number of common shares outstanding 19,318 19,318 19,318
Trade Sales [Member]      
Revenues      
Revenue from customers $ 147,210 $ 180,319 $ 175,499
Costs and Expenses:      
Total costs 126,152 124,560 123,367
Sales Of Real Estate Inventory [Member]      
Revenues      
Revenue from customers 20,363 5,049 21,771
Costs and Expenses:      
Total costs $ 13,171 $ 2,643 $ 14,116