As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD

Assets

Investment in real estate

Master Planned Communities assets 1,641,063 1,642,842 1,669,561 1,642,278 1,640,298
Buildings and equipment 1,243,979 1,772,401 2,027,363 2,238,617 2,390,097
Less - accumulated depreciation (157,182) (232,969) (245,814) (321,882) (341,599)
Land 317,211 322,462 320,936 277,932 273,444
Developments 914,303 1,036,927 961,980 1,196,582 1,739,787
Net property and equipment 3,959,374 4,541,663 4,734,026 5,033,527 5,702,027
Investment in real estate and other affiliates 53,686 57,811 76,376 76,593 99,444
Net investment in real estate 4,013,060 4,599,474 4,810,402 5,110,120 5,801,471
Cash and cash equivalents 560,451 445,301 665,510 861,059 606,715
Restricted cash NA NA NA 103,241 129,654
Accounts receivable, net 28,190 9,962 9,883 13,041 13,471
Municipal Utility District receivables, net 104,394 139,946 150,385 184,811 222,857
Notes receivable, net 28,630 1,664 155 5,864 4,085
Deferred expenses, net 60,407 61,804 64,531 80,901 93,319
Prepaid expenses and other assets, net 310,136 463,431 666,516 370,027 262,125
Total assets 5,105,268 5,721,582 6,367,382 6,729,064 7,133,697

Liabilities

Mortgages, notes and loans payable, net 1,978,807 2,443,962 2,690,747 2,857,945 3,137,773
Deferred tax liabilities 62,205 89,221 200,945 160,850 141,799
Warrant liabilities 366,080 307,760 332,170 NA NA
Uncertain tax position liability 4,653 1,396 NA NA NA
Accounts payable and accrued expenses 466,017 515,354 572,010 521,718 703,514
Total liabilities 2,877,762 3,357,693 3,795,872 3,540,513 3,983,086

Equity

Preferred stock 0 0 0 0 0
Common stock 396 398 398 433 436
Additional paid-in capital 2,838,013 2,847,823 2,853,269 3,302,502 3,314,197
Accumulated deficit (606,934) (480,215) (277,912) (109,508) (180,967)
Accumulated other comprehensive income (loss) (7,712) (7,889) (6,786) (6,965) 2,515
Treasury stock NA 0 (1,231) (3,476) (60,743)
Total Stockholders' equity 2,223,763 2,360,117 2,567,738 3,182,986 3,075,438
Noncontrolling interests 3,743 3,772 3,772 5,565 75,173
Total equity 2,227,506 2,363,889 2,571,510 3,188,551 3,150,611
Total liabilities and equity 5,105,268 5,721,582 6,367,382 6,729,064 7,133,697
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.