Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Communities
Mar. 31, 2013
Cash flows from operating activities:    
Net earnings as reported $ 25,377 $ 12,041
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 2,513 2,158
Stock-based compensation 2,411 1,844
Loss on early extinguishment of debt 0 700
Equity in earnings from unconsolidated entities (2,032) (2,632)
Excess income tax benefit from stock-based awards 0 (464)
Distributions of earnings from unconsolidated entities 3,955 3,722
Other 1,843 3,632
Changes in assets and liabilities:    
Increase in real estate (134,807) (38,876)
(Increase)/decrease in deposits on real estate under option or contract (3,071) 3,030
Increase in receivables and prepaid expenses and other assets (13,998) (5,312)
(Decrease)/increase in accounts payable and accrued liabilities (15,697) 14,671
Increase in home sale deposits 1,839 5,367
Net cash used in operating activities (131,667) (119)
Cash flows from investing activities:    
Purchases of property and equipment (6,995) (2,704)
Maturities of investments and securities 47,533 43,999
Payments to purchase investments and securities (35,514) (46,826)
Other 49 79
Net cash provided by/(used in) investing activities 5,073 (5,452)
Cash flows from financing activities:    
Repayment of senior subordinated notes 0 (17,264)
Proceeds from issuance of senior notes 0 175,000
Proceeds from issuance of common stock, net 110,432 0
Other 2,982 2,399
Net cash provided by financing activities 113,414 160,135
Net (decrease)/increase in cash and cash equivalents (13,180) 154,564
Cash and cash equivalents at beginning of period 274,136 170,457
Cash and cash equivalents at end of period $ 260,956 $ 325,021
Balance, shares 39,114,486  
Number of remaining actively selling communities 189