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 9/30/2018 USD 2018 Q3 YTD 9/30/2018 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 9/30/2018 USD 2018 Q3 YTD 9/30/2018 USD

Assets

Investment in real estate

Master Planned Communities assets 1,641,063 1,642,842 1,669,561 1,642,278 1,621,168
Buildings and equipment 1,243,979 1,772,401 2,027,363 2,238,617 2,510,945
Less - accumulated depreciation (157,182) (232,969) (245,814) (321,882) (359,445)
Land 317,211 322,462 320,936 277,932 302,858
Developments 914,303 1,036,927 961,980 1,196,582 1,825,847
Net property and equipment 3,959,374 4,541,663 4,734,026 5,033,527 5,901,373
Investment in real estate and other affiliates 53,686 57,811 76,376 76,593 107,720
Net investment in real estate 4,013,060 4,599,474 4,810,402 5,110,120 6,009,093
Cash and cash equivalents 560,451 445,301 665,510 861,059 454,080
Restricted cash NA NA NA 103,241 158,468
Accounts receivable, net 28,190 9,962 9,883 13,041 15,437
Municipal Utility District receivables, net 104,394 139,946 150,385 184,811 237,567
Notes receivable, net 28,630 1,664 155 5,864 40,220
Deferred expenses, net 60,407 61,804 64,531 80,901 95,811
Prepaid expenses and other assets, net 310,136 463,431 666,516 370,027 286,194
Total assets 5,105,268 5,721,582 6,367,382 6,729,064 7,296,870

Liabilities

Mortgages, notes and loans payable, net 1,978,807 2,443,962 2,690,747 2,857,945 3,261,210
Deferred tax liabilities 62,205 89,221 200,945 160,850 148,770
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 466,017 515,354 572,010 521,718 705,864
Total liabilities 2,877,762 3,357,693 3,795,872 3,540,513 4,115,844

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 3,318,747
Accumulated deficit (606,934) (480,215) (277,912) (109,508) (157,602)
Accumulated other comprehensive income (loss) (7,712) (7,889) (6,786) (6,965) 4,450
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 3,105,288
Noncontrolling interests 3,743 3,772 3,772 5,565 75,738
Total equity 2,227,506 2,363,889 2,571,510 3,188,551 3,181,026
Total liabilities and equity 5,105,268 5,721,582 6,367,382 6,729,064 7,296,870
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.