Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net earnings $ 97,712 $ 65,152
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 12,608 7,872
Stock-based compensation 8,976 5,785
Equity in earnings from unconsolidated entities (5,978) (7,127)
Distributions of earnings from unconsolidated entities 6,834 6,712
Other 2,407 10
Changes in assets and liabilities:    
Increase in real estate (155,809) (211,384)
Decrease in deposits on real estate under option or contract 11,093 9,308
Decrease/(increase) in other receivables, prepaids and other assets 1,634 (9,428)
Increase/(decrease) in accounts payable and accrued liabilities 6,997 (5,497)
Increase in home sale deposits 3,071 7,849
Net cash used in operating activities (10,455) (130,748)
Cash flows from investing activities:    
Investments in unconsolidated entities (417) (408)
Distributions of capital from unconsolidated entities 0 1,250
Purchases of property and equipment (15,726) (8,322)
Proceeds from sales of property and equipment 92 86
Maturities/sales of investments and securities 1,065 1,258
Payments to purchase investments and securities (1,065) (1,258)
Net cash used in investing activities (16,051) (7,394)
Cash flows from financing activities:    
Repayment of Credit Facility, net 0 (15,000)
Repayment of loans payable and other borrowings (2,499) (5,725)
Repayment of senior notes and senior convertible notes (175,000) (52,098)
Proceeds from issuance of senior notes 206,000 300,000
Payment of debt issuance costs (3,315) (3,998)
Net cash provided by financing activities 25,186 223,179
Net (decrease)/increase in cash and cash equivalents (1,320) 85,037
Cash and cash equivalents, beginning of period 170,746 131,702
Cash and cash equivalents, end of period $ 169,426 $ 216,739