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As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Assets

Investment in real estate

Master Planned Community assets 1,642,842 1,669,561 1,642,278 1,642,660
Buildings and equipment 1,772,401 2,027,363 2,238,617 2,932,963
Less - accumulated depreciation (232,969) (245,814) (321,882) (380,892)
Land 322,462 320,936 277,932 297,596
Developments 1,036,927 961,980 1,196,582 1,290,068
Net property and equipment 4,541,663 4,734,026 5,033,527 5,782,395
Investment in Real Estate and Other Affiliates 57,811 76,376 76,593 102,287
Net investment in real estate 4,599,474 4,810,402 5,110,120 5,884,682
Cash and cash equivalents 445,301 665,510 861,059 499,676
Restricted cash NA NA 103,241 224,539
Accounts receivable, net 9,962 9,883 13,041 12,589
Municipal Utility District receivables, net 139,946 150,385 184,811 222,269
Notes receivable, net 1,664 155 5,864 4,694
Deferred expenses, net 61,804 64,531 80,901 95,714
Prepaid expenses and other assets, net 463,431 666,516 370,027 411,636
Total assets 5,721,582 6,367,382 6,729,064 7,355,799

Liabilities

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

Equity

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