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

Note 2 - Acquisition of The Altman Companies (Provisional) (Tables)

6 Months Ended

Jun. 30, 2023

Cash	$	4,095
Restricted cash		113
Construction contracts receivable		14,784
Trade receivables		709
Real estate		3,867
Due from related parties		2,315
Property and equipment		94
Contract assets		22,194
Other assets		2,397
Total assets acquired		50,568
Accounts payable		(14,397	)
Accrued expenses		(5,501	)
Due to related parties		(175	)
Contract liabilities		(32,259	)
Notes payable and other borrowings		(2,100	)
Total liabilities assumed		(54,432	)
Fair value of identifiable net assets		(3,864	)
Cash consideration paid to seller		8,153
Consideration payable to seller		1,562
Predevelopment costs payable to seller		550
Writeoff of Altman Companies receivable		1,780
Fair value of previously held equity interest in the Altman Companies		17,968
Goodwill	$	33,877

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

	*For the Three Months Ended*						*For the Six Months Ended*
	*June 30,*						*June 30,*
	*2023*			*2022*			*2023*			*2022*
Total revenue	$	51,901			—			83,008			—
Equity in net losses from unconsolidated real estate joint ventures	$	—			(644	)		(73	)		(1,296	)
Loss before income taxes	$	(1,826	)		(644	)		(2,860	)		(1,296	)

	*For the Three Months Ended*					*For the Six Months Ended*
	*Pro Forma*					*Pro Forma*
	*June 30,*					*June 30,*
	*2023*			*2022*		*2023*			*2022*
Total revenues	$	106,844			109,022		216,021			201,014
Equity in net losses from unconsolidated real estate joint ventures	$	728			19,797		2,046			21,961
(Loss) income before income taxes	$	(9,062	)		13,041		(17,049	)		9,289
Net (loss) income	$	(7,621	)		7,757		(15,162	)		5,083