Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income

v3.22.4
Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Sales $ 307,919 $ 303,557 $ 167,573
Interest income 5,993 6,413 2,399
Net gains on sales of real estate assets 24,289 643 255
Other revenue 3,844 2,984 3,002
Total revenues 342,045 313,597 173,229
Costs and expenses:      
Interest expense 2,399 1,439 237
Recoveries from loan losses, net (4,835) (7,774) (8,876)
Impairment losses 549 38 30,772
Selling, general and administrative expenses 116,215 76,014 65,972
Total costs and expenses 339,512 284,553 228,304
Operating income (losses) 2,533 29,044 (55,075)
Equity in net earnings of unconsolidated real estate joint ventures 38,414 18,154 465
Loss on the deconsolidation of IT'SUGAR, LLC 0 0 (3,326)
Gain on the consolidation of IT'SUGAR, LLC 0 15,890 0
Other income 964 341 290
Foreign exchange gain (loss) 880 812 (692)
Income (loss) before income taxes 42,791 64,241 (58,338)
(Provision) benefit for income taxes (15,149) (17,175) 11,248
Net income (loss) 27,642 47,066 (47,090)
Net loss (income) attributable to noncontrolling interests 378 (155) 4,803
Net income (loss) attributable to shareholders $ 28,020 $ 46,911 $ (42,287)
Basic earnings (loss) per share (in dollars per share) $ 1.81 $ 2.63 $ (2.19)
Diluted earnings (loss) per share (in dollars per share) $ 1.81 $ 2.63 $ (2.19)
Basic weighted average number of common shares outstanding (1) (in shares) [1] 15,471 17,840 19,318
Diluted weighted average number of common shares outstanding (1) (in shares) [1] 15,508 17,840 19,318
Net income (loss) $ 27,642 $ 47,066 $ (47,090)
Other comprehensive income, net of tax:      
Unrealized (loss) gain on securities available for sale (103) 3 35
Foreign currency translation adjustments (911) 3 241
Other comprehensive (loss) income, net (1,014) 6 276
Comprehensive income (loss), net of tax 26,628 47,072 (46,814)
Comprehensive loss (income) attributable to noncontrolling interests 378 (155) 4,803
Comprehensive income (loss) attributable to shareholders 27,006 46,917 (42,011)
Trade [Member]      
Revenues:      
Sales 280,125 238,078 147,210
Costs and expenses:      
Cost of sales 213,721 185,146 127,028
Real Estate [Member]      
Revenues:      
Sales 27,794 65,479 20,363
Costs and expenses:      
Cost of sales $ 11,463 $ 29,690 $ 13,171
[1] For periods prior to the spin-off on September 30, 2020, the number of shares is based on the shares issued in connection with the spin-off. See Note 1 for further discussion.