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

Note 2 - Acquisition of The Altman Companies (Tables)

3 Months Ended

Mar. 31, 2023

Cash	$	4,095
Restricted cash		113
Construction contracts receivable		14,784
Trade receivables		745
Real estate		3,867
Due from related parties		2,315
Property and equipment		94
Contract assets		22,183
Other assets		2,553
Total assets acquired		50,749
Accounts payable		(14,470	)
Accrued expenses		(5,183	)
Due to related parties		(175	)
Contract liabilities		(32,259	)
Notes payable and other borrowings		(2,100	)
Total liabilities assumed		(54,187	)
Fair value of identifiable net assets		(3,438	)
Cash consideration paid to seller		8,153
Consideration payable to seller		1,562
Writeoff of Altman Companies receivable		1,780
Fair value of previously held equity interest in the Altman Companies		17,968
Goodwill	$	32,901

Gain on the consolidation of the Altman Companies ⁽¹⁾	$	6,195

	For the Three Months Ended March 31,
	2023			2022
Total revenue	$	31,107			—
Equity in net losses from unconsolidated real estate joint ventures	$	(73	)		(652	)
Loss before income taxes	$	(1,034	)		(652	)

	*For the Three Months Ended*
	*Pro Forma*
	*March 31,*			*March 31,*
	*2023*			*2022*
Total revenues	$	96,109			77,763
Equity in net losses from unconsolidated real estate joint ventures	$	1,318			2,164
Loss before income taxes	$	(7,914	)		(3,752	)
Net loss	$	(7,486	)		(2,674	)