BBX Capital, Inc. Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

The table below sets forth the Company’s segment information as of and for the three months ended September 30, 2021 (in thousands):



Revenues:		BBX Capital Real Estate	BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Trade sales	$	—		32,810		33,410		1,233		—		67,453
Sales of real estate inventory		21,849		—		—		—		—		21,849
Interest income		490		—		—		—		1,016		1,506
Net gains on sales of real estate assets		129		—		—		—		—		129
Other revenue		316		—		—		672		(134)		854
Total revenues		22,784		32,810		33,410		1,905		882		91,791
Costs and expenses:
Cost of trade sales		—		19,682		30,432		500		—		50,614
Cost of real estate inventory sold		9,999		—		—		—		—		9,999
Interest expense		—		185		448		—		(259)		374
Recoveries from loan losses, net		(5,393)		—		—		—		—		(5,393)
Selling, general and administrative expenses		2,088		12,563		3,545		1,293		3,181		22,670
Total costs and expenses		6,694		32,430		34,425		1,793		2,922		78,264
Operating income (losses)		16,090		380		(1,015)		112		(2,040)		13,527
Equity in net earnings of unconsolidated real estate joint ventures		11,820		—		—		—		—		11,820
Other income		14		33		—		—		13		60
Foreign exchange gain		—		—		292		—		—		292
Income (loss) from continuing operations before income taxes	$	27,924		413		(723)		112		(2,027)		25,699
Total assets	$	185,047		140,248		107,164		7,265		109,530		549,254
Expenditures for property and equipment	$	—		2,825		196		60		71		3,152
Depreciation and amortization	$	—		1,456		959		20		17		2,452
Debt accretion and amortization	$	100		9		31		—		—		140
Cash and cash equivalents	$	72,197		6,028		1,188		2,256		31,878		113,547
Real estate equity method investments	$	49,051		—		—		—		—		49,051
Goodwill	$	—		14,082		4,140		—		—		18,222
Notes payable and other borrowings	$	12,367		14,429		50,648		31		(11,000)		66,475

‎

The table below sets forth the Company’s segment information as of and for the three months ended September 30, 2020 (in thousands):



	BBX Capital Real Estate		BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Revenues:
Trade sales	$	—		15,166		19,662		864		—	35,692
Sales of real estate inventory		4,970		—		—		—		—	4,970
Interest income		419		2		—		—		(34)	387
Net gains on sales of real estate assets		164		—		—		—		—	164
Other revenue		329		77		—		610		(24)	992
Total revenues		5,882		15,245		19,662		1,474		(58)	42,205
Costs and expenses:
Cost of trade sales		—		11,678		15,927		376		—	27,981
Cost of real estate inventory sold		3,367		—		—		—		—	3,367
Interest expense		—		54		53		4		(111)	—
Recoveries from loan losses, net		(807)		—		—		—		—	(807)
Selling, general and administrative expenses		1,715		8,483		2,135		1,036		4,741	18,110
Total costs and expenses		4,275		20,215		18,115		1,416		4,630	48,651
Operating income (losses)		1,607		(4,970)		1,547		58		(4,688)	(6,446)
Equity in net loss of unconsolidated real estate joint ventures		(646)		—		—		—		—	(646)
Loss on the deconsolidation of IT'SUGAR, LLC		—		(3,326)		—		—		—	(3,326)
Other income		—		81		—		—		—	81
Foreign exchange loss		—		—		(58)		—		—	(58)
Income (loss) from continuing operations before income taxes	$	961		(8,215)		1,489		58		(4,688)	(10,395)
Total assets	$	160,442		26,108		36,894		6,707		157,296	387,447
Expenditures for property and equipment	$	—		196		247		15		—	458
Depreciation and amortization	$	—		1,323		260		26		—	1,609
Debt accretion and amortization	$	70		5		4		—		—	79
Cash and cash equivalents	$	24,066		610		1,168		941		69,807	96,592
Real estate equity method investments	$	60,648		—		—		—		—	60,648
Goodwill	$	—		—		—		—		—	—
Notes payable and other borrowings	$	29,597		1,427		4,929		47		—	36,000

‎

The table below sets forth the Company’s segment information as of and for the nine months ended September 30, 2021 (in thousands):



		BBX Capital Real Estate	BBX Sweet Holdings		Renin		Other		Reconciling Items and Eliminations		Segment Total
Revenues:
Trade sales	$	—		47,990		106,479		5,430		—		159,899
Sales of real estate inventory		47,774		—		—		—		—		47,774
Interest income		1,465		36		—		—		3,322		4,823
Net gains on sales of real estate assets		438		—		—		—		—		438
Other revenue		1,152		—		—		1,677		(379)		2,450
Total revenues		50,829		48,026		106,479		7,107		2,943		215,384
Costs and expenses:
Cost of trade sales		—		30,066		93,450		1,558		—		125,074
Cost of real estate inventory sold		23,425		—		—		—		—		23,425
Interest expense		—		251		1,287		1		(581)		958
Recoveries from loan losses, net		(7,038)		—		—		—		—		(7,038)
Selling, general and administrative expenses		5,709		17,724		11,653		4,277		10,544		49,907
Total costs and expenses		22,096		48,041		106,390		5,836		9,963		192,326
Operating income (losses)		28,733		(15)		89		1,271		(7,020)		23,058
Equity in net earnings of unconsolidated real estate joint ventures		15,992		—		—		—		—		15,992
Other (expense) income		(14)		78		—		(1)		189		252
Gain on the consolidation of IT'SUGAR, LLC		—		15,890		—		—		—		15,890
Foreign exchange gain		—		—		788		—		—		788
Income (loss) from continuing operations before income taxes	$	44,711		15,953		877		1,270		(6,831)		55,980
Expenditures for property and equipment	$	—		2,844		1,797		162		451		5,254
Depreciation and amortization	$	—		1,852		2,222		90		84		4,248
Debt accretion and amortization	$	479		11		92		—		—		582

‎

The table below sets forth the Company’s segment information as of and for the nine months ended September 30, 2020 (in thousands):

BBX Capital Real Estate

BBX Sweet Holdings

Renin

Other

Reconciling Items and Eliminations

Segment Total

Revenues: