Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income (loss) from continuing operations $ 2,455 $ (24,701)
Adjustment to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Recoveries from loan losses, net (508) (3,512)
Depreciation, amortization and accretion, net 1,041 1,951
Net (gains) losses on sales of real estate and property and equipment (163) 47
Equity in net losses (earnings) of unconsolidated real estate joint ventures 271 (551)
Return on investment in unconsolidated real estate joint ventures 88 1,430
Increase in deferred tax asset, net (46) (3,210)
Impairment losses   27,435
Decrease in trade inventory 349 312
Decrease (increase) in trade receivables 18 (1,734)
Decrease in real estate inventory 6,119 1,241
Net change in operating lease asset and operating lease liability 140 337
Increase in other assets (4,480) (372)
Decrease in accrued expenses (801) (4,162)
Decrease in due to parent   (2,093)
Advances to IT'SUGAR (233)  
(Decrease) increase in accounts payable (968) 3,279
Increase (decrease) in other liabilities 508 (170)
Net cash used in operating activities from discontinued operations   (4)
Net cash provided by (used in) operating activities 3,790 (4,477)
Investing activities:    
Return of investment in unconsolidated real estate joint ventures 3,115  
Investments in unconsolidated real estate joint ventures (5,866) (2,922)
Proceeds from repayment of loans receivable 1,001 3,909
Proceeds from sales of real estate held-for-sale 368  
Additions to real estate held-for-sale and held-for-investment (19) (51)
Purchases of property and equipment (266) (3,548)
Change in cash from other investing activities (111) (47)
Net cash used in investing activities (1,778) (2,659)
Financing activities:    
Repayments of notes payable and other borrowings (4,337) (5,771)
Proceeds from notes payable and other borrowings 1,757 6,375
Purchase and retirement of Class A common stock (1,662)  
Net transfers from parent   3,448
Net cash (used in) provided by financing activities (4,242) 4,052
Decrease in cash, cash equivalents and restricted cash (2,230) (3,084)
Cash, cash equivalents and restricted cash at beginning of period 90,387 21,287
Cash, cash equivalents and restricted cash at end of period 88,157 18,203
Supplemental cash flow information:    
Interest paid on borrowings, net of amounts capitalized 106  
Income taxes paid 20  
Supplementary disclosure of non-cash investing and financing activities:    
Construction funds receivable transferred to real estate 48  
Class A Common Stock purchases with settlement dates in April 2021 474  
Increase in other assets upon issuance of Community Development District Bonds   185
Operating lease assets obtained in exchange for new operating lease liabilities   180
Assumption of Community Development District Bonds by builders 2,194 1,532
Reconciliation of cash, cash equivalents and restricted cash:    
Total cash, cash equivalents, and restricted cash $ 88,157 $ 18,203