Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net (loss) income $ (47,090) $ 13,513 $ (9,467)
Adjustment to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Recoveries from loan losses, net (8,876) (5,428) (8,653)
Depreciation, amortization and accretion, net 6,532 8,008 8,322
Net gains on sales of real estate and property and equipment (255) (13,305) (4,563)
Equity earnings of unconsolidated real estate joint ventures (465) (37,898) (14,194)
Return on investment in unconsolidated real estate joint ventures 4,910 39,043 17,679
Loss on the deconsolidation of IT'SUGAR, LLC 3,326    
(Increase) decrease in deferred income tax asset, net (4,737) 2,343 1,084
Impairment losses 31,620 6,938 4,718
(Increase) decrease in trade receivable (7,975) 5,190 (2,323)
(Increase) decrease in trade inventory (3,245) (2,733) 3,882
Decrease (increase) in real estate inventory 3,482 (7,445) 12,001
Net change in operating lease asset and operating lease liability (621) 515  
(Increase) decrease in other assets (6,802) 6,817 2,197
(Decrease) Increase in accounts payable (1,253) (596) 1,648
Net change in due/from to parent (1,362) 3,284 (1,282)
Increase in accrued expenses 27,668 927 1,638
(Decrease) increase in other liabilities (1,040) 3,496 (1,480)
Net cash (used in) provided by operating activities (6,183) 22,669 11,207
Investing activities:      
Return of investment in unconsolidated real estate joint ventures 7,567 31,442 12,080
Investments in unconsolidated real estate joint ventures (14,276) (25,179) (29,187)
Loan fundings to IT'SUGAR, LLC, net (3,947)    
Proceeds from repayment of loans receivable 9,296 6,339 19,394
Proceeds from sales of real estate held-for-sale 2,608 23,512 17,431
Proceeds from sales of property and equipment   11,762 569
Additions to real estate held-for-sale and held-for-investment 91 600 1,221
Purchases of property and equipment (5,345) (11,091) (12,796)
Cash paid for acquisition, net of cash received (42,133)    
Decrease in cash from other investing activities (6,078) (222) (4,696)
Net cash (used in) provided by investing activities (52,399) 35,963 1,574
Financing activities:      
Repayments of notes payable and other borrowings (16,459) (3,947) (18,037)
Proceeds from notes payable and other borrowings 50,136 1,983 721
Payments for debt issuance costs (216) (96) (125)
Acquisition of noncontrolling interest     (258)
Distribution to noncontrolling interests (54)    
Net transfers from (to) parent 94,275 (65,367) 7,615
Net cash provided by (used in) financing activities 127,682 (67,427) (10,084)
Increase (decrease) in cash, cash equivalents and restricted cash 69,100 (8,795) 2,697
Cash, cash equivalents and restricted cash at beginning of period 21,287 30,082 27,385
Cash, cash equivalents and restricted cash at end of period 90,387 21,287 30,082
Supplemental cash flow information:      
Interest paid on borrowings, net of amounts capitalized   721 854
Income taxes paid 330 1,227 678
Supplementary disclosure of non-cash investing and financing activities:      
Bluegreen Vacations Holding Corporation note receivable 75,000    
Construction funds receivable transferred to real estate   18,318 14,548
Loans receivable transferred to real estate   333 1,673
Increase in other assets upon issuance of Community Development District Bonds 827 8,110 15,996
Assumption of Community Development District Bonds by builders 4,170 1,035 5,572
Operating lease assets recognized upon adoption of ASC 842   86,431  
Operating lease liabilities recognized upon adoption of ASC 842   95,296  
Operating lease assets obtained in exchange for new operating lease liabilities 4,721 22,942  
Reconciliation of cash, cash equivalents and restricted cash:      
Total cash, cash equivalents, and restricted cash $ 90,387 $ 21,287 $ 30,082