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

Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Investments in and Advances to Consolidated and Unconsolidated VIEs (Tables)

Note 7 - Investments in and Advances to Consolidated and Unconsolidated VIEs (Tables)

6 Months Ended

Jun. 30, 2023

Equity Method Investments [Table Text Block]

	*January 31,*
	*2023*
Cash	$	19,083
Restricted cash		10,064
Real estate		24,410
Investment in and advances to unconsolidated real estate joint ventures		38,673
Other assets		818
Total consolidated VIE assets		93,048
Accounts payable		(2,365	)
Contract liabilities		(228	)
Fair value of identifiable net assets		90,455
Fair value of noncontrolling interests		61,017
Fair value of net assets attributable to the Company		29,438
Carrying amount of previously held investments		18,556
Gain on the consolidation of VIEs	$	10,882

	*June 30,*
	*2023*
Cash	$	7,439
Restricted cash		10,236
Real estate		37,771
Investment in and advances to unconsolidated real estate joint ventures		44,032
Other assets		1,225
Total assets	$	100,703
Total liabilities	$	33
Noncontrolling interest	$	58,596

Schedule of Variable Interest Entities [Table Text Block]

	*June 30,*					*December 31,*
	*2023*		*Ownership (1)*			*2022*		*Ownership (1)*
Altis Grand Central	$	687		1.49	%		687		1.49	%
Altis Ludlam Trail (2)		20,574		48.13			12,216		33.30
Altis Lake Willis Phase 1		6,750		1.68			850		1.23
Altis Lake Willis Phase 2		3,024		5.10			601		3.50
Altis Grand at Suncoast		12,190		12.31			4,579		11.00
Altis Blue Lake		4,150		1.68			647		1.22
Altis Santa Barbara		6,035		5.10			433		3.50
Altra Kendall (3)		—		—			5,670		13.70
Altis Twin Lakes		3,579		11.39			—
The Altman Companies (3)		—		—			11,992		50.00
ABBX Guaranty (3)		—		—			5,978		50.00
Marbella		1,047		70.00			1,064		70.00
The Main Las Olas		785		3.41			1,117		3.41
Sky Cove		116		26.25			24		26.25
Sky Cove South		1,878		26.25			3,241		26.25
Other		374					316
Total	$	61,189					49,415

Altis Little Havana [Member]

Notes Tables

Equity Method Investments [Table Text Block]

	June 30,		December 31,
	2023		2022
Assets
Cash	$	—		718
Real estate		—		—
Other assets		—		411
Total assets	$	—		1,129
Liabilities and Equity
Notes payable	$	—		—
Other liabilities		—		270
Total liabilities		—		270
Total equity		—		859
Total liabilities and equity	$	—		1,129

	*For the Three Months Ended*					*For the Six Months Ended*
	*June 30,*					*June 30,*
	*2023*		*2022*			*2023*		*2022*
Total revenues	$	—		200			—		200
Gain on sale of real estate		—		55,836			—		55,836
Other expenses		—		(258	)		—		(361	)
Net earnings	$	—		55,778			—		55,675
Equity in net earnings of unconsolidated real estate joint venture - Altis Little Havana	$	—		8,406			—		8,398

Marbella [Member]

Notes Tables

Equity Method Investments [Table Text Block]

	*June 30,*		*December 31,*
	*2023*		*2022*
Assets
Cash	$	1,755		3,508
Real estate inventory		1,705		1,706
Other assets		488		526
Total assets	$	3,948		5,740
Liabilities and Equity
Other liabilities	$	1,854		3,611
Total liabilities		1,854		3,611
Total equity		2,094		2,129
Total liabilities and equity	$	3,948		5,740

	*For the Three Months Ended*						*For the Six Months Ended*
	*June 30,*						*June 30,*
	*2023*			*2022*			*2023*			*2022*
Total revenues	$	9			32,228			1,192			48,020
Cost of real estate inventory sold		—			(24,360	)		—			(35,649	)
Other expenses		(8	)		(989	)		(27	)		(1,716	)
Net earnings	$	1			6,879			1,165			10,655
Equity in net earnings of unconsolidated real estate joint venture - Marbella	$	—			3,362			582			5,211

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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