As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 9/30/2017 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 9/30/2017 USD 2017 Q3 YTD 9/30/2017 USD

Assets

Investment in real estate

Master Planned Community assets 1,537,758 1,641,063 1,642,842 1,669,561 1,667,496
Buildings and equipment 754,878 1,243,979 1,772,401 2,027,363 2,155,071
Less - accumulated depreciation (111,728) (157,182) (232,969) (245,814) (303,887)
Land 244,041 317,211 322,462 320,936 314,383
Developments 488,156 914,303 1,036,927 961,980 1,124,079
Net property and equipment 2,913,105 3,959,374 4,541,663 4,734,026 4,957,142
Investment in Real Estate and Other Affiliates 61,021 53,686 57,811 76,376 89,155
Net investment in real estate 2,974,126 4,013,060 4,599,474 4,810,402 5,046,297
Cash and cash equivalents 894,948 560,451 445,301 665,510 601,934
Accounts receivable, net 21,409 28,190 9,962 10,038 9,654
Municipal Utility District receivables, net 125,830 104,394 139,946 150,385 193,100
Notes receivable, net 20,554 28,630 1,664 NA NA
Tax indemnity receivable, including interest 320,494 NA NA NA NA
Deferred expenses, net 36,567 60,407 61,804 64,531 76,692
Prepaid expenses and other assets, net 173,940 310,136 463,431 666,516 796,019
Total assets 4,567,868 5,105,268 5,721,582 6,367,382 6,723,696

Liabilities

Mortgages, notes and loans payable 1,514,623 1,978,807 2,443,962 2,690,747 2,993,448
Deferred tax liabilities 89,365 62,205 89,221 200,945 237,013
Warrant liabilities 305,560 366,080 307,760 332,170 0
Uncertain tax position liability 129,183 4,653 1,396 NA NA
Accounts payable and accrued expenses 283,991 466,017 515,354 572,010 462,853
Total liabilities 2,322,722 2,877,762 3,357,693 3,795,872 3,693,314

Equity

Preferred stock 0 0 0 0 0
Common stock 396 396 398 398 433
Additional paid-in capital 2,829,813 2,838,013 2,847,823 2,853,269 3,295,586
Accumulated deficit (583,403) (606,934) (480,215) (277,912) (258,629)
Accumulated other comprehensive loss (8,222) (7,712) (7,889) (6,786) (9,017)
Treasury stock NA NA 0 (1,231) (1,763)
Total stockholders' equity 2,238,584 2,223,763 2,360,117 2,567,738 3,026,610
Noncontrolling interests 6,562 3,743 3,772 3,772 3,772
Total equity 2,245,146 2,227,506 2,363,889 2,571,510 3,030,382
Total liabilities and equity 4,567,868 5,105,268 5,721,582 6,367,382 6,723,696
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.