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 3/31/2018 USD 2018 Q1 YTD 3/31/2018 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 3/31/2018 USD 2018 Q1 YTD 3/31/2018 USD

Assets

Investment in real estate

Master Planned Community assets 1,641,063 1,642,842 1,669,561 1,642,278 1,633,492
Buildings and equipment 1,243,979 1,772,401 2,027,363 2,238,617 2,365,773
Less - accumulated depreciation (157,182) (232,969) (245,814) (321,882) (325,026)
Land 317,211 322,462 320,936 277,932 273,444
Developments 914,303 1,036,927 961,980 1,196,582 1,412,153
Net property and equipment 3,959,374 4,541,663 4,734,026 5,033,527 5,359,836
Investment in Real Estate and Other Affiliates 53,686 57,811 76,376 76,593 85,911
Net investment in real estate 4,013,060 4,599,474 4,810,402 5,110,120 5,445,747
Cash and cash equivalents 560,451 445,301 665,510 861,059 632,838
Restricted cash NA NA NA 103,241 132,105
Accounts receivable, net 28,190 9,962 9,883 13,041 14,384
Municipal Utility District receivables, net 104,394 139,946 150,385 184,811 203,436
Notes receivable, net 28,630 1,664 155 5,864 8,310
Deferred expenses, net 60,407 61,804 64,531 80,901 90,839
Prepaid expenses and other assets, net 310,136 463,431 666,516 370,027 210,327
Total assets 5,105,268 5,721,582 6,367,382 6,729,064 6,737,986

Liabilities

Mortgages, notes and loans payable, net 1,978,807 2,443,962 2,690,747 2,857,945 2,895,771
Deferred tax liabilities 62,205 89,221 200,945 160,850 143,581
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 466,017 515,354 572,010 521,718 619,271
Total liabilities 2,877,762 3,357,693 3,795,872 3,540,513 3,658,623

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 3,310,421
Accumulated deficit (606,934) (480,215) (277,912) (109,508) (175,879)
Accumulated other comprehensive loss (7,712) (7,889) (6,786) (6,965) (797)
Treasury stock, at cost NA 0 (1,231) (3,476) (60,743)
Total Stockholders' equity 2,223,763 2,360,117 2,567,738 3,182,986 3,073,438
Noncontrolling interests 3,743 3,772 3,772 5,565 5,925
Total equity 2,227,506 2,363,889 2,571,510 3,188,551 3,079,363
Total liabilities and equity 5,105,268 5,721,582 6,367,382 6,729,064 6,737,986
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.