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As Reported Financials

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-Q 12/31/2018 USD 2019 Q2 YTD 10-Q 6/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-Q 12/31/2018 USD 2019 Q2 YTD 10-Q 6/30/2019 USD

Assets

Investment in real estate

Master Planned Communities assets 1,642,842 1,669,561 1,642,278 1,642,660 1,675,536
Buildings and equipment 1,772,401 2,027,363 2,238,617 2,932,963 3,136,130
Less - accumulated depreciation (232,969) (245,814) (321,882) (380,892) (444,461)
Land 322,462 320,936 277,932 297,596 303,384
Developments 1,036,927 961,980 1,196,582 1,290,068 1,349,855
Net property and equipment 4,541,663 4,734,026 5,033,527 5,782,395 6,020,444
Investment in real estate and other affiliates 57,811 76,376 76,593 102,287 117,821
Net investment in real estate 4,599,474 4,810,402 5,110,120 5,884,682 6,138,265
Cash and cash equivalents 445,301 665,510 861,059 499,676 650,702
Restricted cash NA NA 103,241 224,539 197,898
Accounts receivable, net 9,962 9,883 13,041 12,589 19,980
Municipal Utility District receivables, net 139,946 150,385 184,811 222,269 273,169
Notes receivable, net 1,664 155 5,864 4,694 300
Deferred expenses, net 61,804 64,531 80,901 95,714 108,198
Operating lease right-of-use assets, net NA NA NA 0 71,176
Prepaid expenses and other assets, net 463,431 666,516 370,027 411,636 249,490
Total assets 5,721,582 6,367,382 6,729,064 7,355,799 7,709,178

Liabilities

Mortgages, notes and loans payable, net 2,443,962 2,690,747 2,857,945 3,181,213 3,422,490
Operating lease obligations NA NA NA 0 71,125
Deferred tax liabilities 89,221 200,945 160,850 157,188 166,033
Warrant liabilities 307,760 332,170 NA NA NA
Uncertain tax position liability 1,396 NA NA NA NA
Accounts payable and accrued expenses 515,354 572,010 521,718 779,272 697,763
Total liabilities 3,357,693 3,795,872 3,540,513 4,117,673 4,357,411

Equity

Preferred stock 0 0 0 0 0
Common stock 398 398 433 436 437
Additional paid-in capital 2,847,823 2,853,269 3,302,502 3,322,433 3,329,062
Accumulated deficit (480,215) (277,912) (109,508) (120,341) (75,043)
Accumulated other comprehensive loss (7,889) (6,786) (6,965) (8,126) (28,542)
Treasury stock, at cost 0 (1,231) (3,476) (62,190) (62,190)
Total stockholders' equity 2,360,117 2,567,738 3,182,986 3,132,212 3,163,724
Noncontrolling interests 3,772 3,772 5,565 105,914 188,043
Total equity 2,363,889 2,571,510 3,188,551 3,238,126 3,351,767
Total liabilities and equity 5,721,582 6,367,382 6,729,064 7,355,799 7,709,178
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.