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in million USD FY '09FY '10FY '11FY '12FY '13FY '14FY '15
Condominium rights and unit sales
0
1
22
0
33
84
305
Resort and conference center revenues
0
0
16
40
0
0
0
Master Planned Community land sales
35
38
115
183
251
325
187
Minimum Rents
66
67
71
83
82
97
151
Builder price participation
6
4
4
6
9
21
27
Tenant recoveries
20
19
19
23
21
28
40
Hospitality revenues
0
0
0
0
39
38
45
Other land revenues
6
6
13
18
13
17
15
Other rental and property revenues
5
8
16
24
21
25
27
Total revenues
136
143
276
377
469
635
797
Condominium rights and unit cost of sales
0
1
14
0
17
50
192
Resort and conference center operations
0
0
13
29
0
0
0
Master Planned Community cost of sales
22
23
70
89
124
120
88
Master Planned Community operations
27
30
34
41
38
42
45
Other property operating costs
35
37
51
63
66
67
73
Rental property real estate taxes
14
14
10
14
14
17
24
Rental property maintenance costs
6
6
7
9
8
9
11
Hospitality expenses
0
0
0
0
29
32
35
Provision for doubtful accounts
3
2
0
1
1
1
4
Demolition costs
0
0
0
0
2
7
3
Development-related marketing costs
0
0
0
0
6
23
25
General and administrative
23
22
32
37
48
74
81
Provisions for impairment
680
503
0
0
0
0
0
Other income
0
0
0
-2
-29
-29
-2
Depreciation and amortization
20
17
17
24
34
56
99
Total expenses
829
655
248
304
358
468
678
Operating Income
-693
-512
27
72
111
167
119
Interest income
2
0
10
9
3
23
1
Interest expense
-1
-2
0
-1
-10
-39
-60
Warrant liability gain (loss)
0
-141
102
-185
-182
-61
58
Gain on sale of The Club at Carlton Woods
0
0
0
0
0
0
29
Increase (reduction) in tax indemnity receivable
0
0
0
-20
-1
0
0
Loss on settlement of tax indemnity receivable
0
0
0
0
0
-74
0
Investment in Real Estate Affiliate Basis Adjustment
0
0
-6
0
0
0
0
Early extinguishment of debt
0
0
-11
0
0
0
0
Equity in earnings from Real Estate and Other Affiliates
-28
9
9
4
14
23
4
Income (loss) before taxes
-720
-645
130
-121
-64
39
151
Provision for income taxes
-24
-633
-18
7
10
63
24
Reorganization items
-7
-57
0
0
0
0
0
Net income (loss) from continuing operations
-703
0
0
0
0
0
0
Discontinued operations - loss on dispositions
-1
0
0
0
0
0
0
Net Income (Loss)
-704
-69
148
-128
-74
-24
127
Net income attributable to noncontrolling interests
0
0
-1
-1
0
0
0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS
-704
-69
147
-128
-74
-24
127
Remarks
restated on Nov 30, -1 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,
restated on Feb 27, 2014 n/a
calculated values,
restated on Mar 2, 2015 n/a
calculated values,
restated on Feb 29, 2016 n/a
calculated values,
restated on Feb 29, 2016 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,
Balance SheetBS data quality: 0% (?)
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No data available for the selected time periods
in million USD FY '09FY '10FY '11FY '12FY '13FY '14FY '15
Assets
Master Planned Community assets
n/a
1,351
1,602
1,563
1,538
1,641
1,643
Land
n/a
181
234
253
244
317
322
Buildings and equipment
n/a
337
545
657
755
1,244
1,772
Less: accumulated depreciation
n/a
-79
-92
-112
-112
-157
-233
Developments
n/a
293
208
274
488
914
1,037
Net property and equipment
n/a
2,083
2,498
2,634
2,913
3,959
4,542
Investment in Real Estate and Other Affiliates
n/a
150
59
32
61
54
58
Net investment in real estate
n/a
2,233
2,557
2,666
2,974
4,013
4,599
Cash and cash equivalents
n/a
285
228
229
895
560
445
Accounts receivable, net
n/a
8
20
14
21
28
32
Municipal Utility District receivables, net
n/a
28
87
90
126
104
140
Notes receivable, net
n/a
39
35
28
21
29
2
Tax indemnity receivable, including interest
n/a
324
332
320
320
0
0
Deferred expenses, net
n/a
7
10
13
37
60
62
PREPAID EXPENSES AND OTHER ASSETS, NET
n/a
100
131
143
174
310
441
Total assets
n/a
3,023
3,400
3,503
4,568
5,105
5,722
Liabilities and owners' equity
Mortgages, notes and loans payable
n/a
319 318660000
606 606477000
688 688312000
1,515 1514623000
1,979 1978807000
2,444 2443962000
Deferred tax liabilities
n/a
79 78680000
76 75966000
77 77147000
89 89365000
62 62205000
89 89221000
Warrant liabilities
n/a
227 227348000
128 127764000
124 123573000
306 305560000
366 366080000
308 307760000
Uncertain tax position liability
n/a
140 140076000
130 129939000
132 132492000
129 129183000
5 4653000
1 1396000
Accounts payable and accrued expenses
n/a
79 78836000
130 129848000
171 170521000
284 283991000
466 466017000
515 515354000
Total liabilities
n/a
844 843600000
1,070 1069994000
1,192 1192045000
2,323 2322722000
2,878 2877762000
3,358 3357693000
Commitments and contingencies (See Note 10)
n/a
0 0
0 0
0 0
0 0
0 0
0 0
Preferred stock
n/a
0 0
0 0
0 0
0 0
0 0
0 0
Common stock
n/a
0 379000
0 379000
0 395000
0 396000
0 396000
0 398000
Additional paid-in capital
n/a
2,708 2708036000
2,711 2711109000
2,824 2824031000
2,830 2829813000
2,838 2838013000
2,848 2847823000
Accumulated deficit
n/a
-529 -528505000
-381 -381325000
-510 -509613000
-583 -583403000
-607 -606934000
-480 -480215000
Accumulated other comprehensive loss
n/a
-2 -1627000
-6 -5578000
-10 -9575000
-8 -8222000
-8 -7712000
-8 -7889000
Total stockholders' equity
n/a
2,178 2178283000
2,325 2324585000
2,305 2305238000
2,239 2238584000
2,224 2223763000
2,360 2360117000
Noncontrolling interests
n/a
1 824000
5 5014000
6 5759000
7 6562000
4 3743000
4 3772000
Total equity
n/a
2,179 2179107000
2,330 2329599000
2,311 2310997000
2,245 2245146000
2,228 2227506000
2,364 2363889000
Total liabilities and equity
n/a
3,023 3022707000
3,400 3399593000
3,503 3503042000
4,568 4567868000
5,105 5105268000
5,722 5721582000
Remarks restated on n/a restated on Nov 30, -1 n/a restated on Feb 28, 2013 n/a restated on Nov 30, -1 n/a restated on Nov 30, -1 n/a restated on Feb 29, 2016 n/a restated on Nov 30, -1 n/a
Cash Flow StatementCF data quality: 0% (?)
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Reason:
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No data available for the selected time periods
in million USD FY '09FY '10FY '11FY '12FY '13FY '14FY '15
Net Income (Loss)
-704
-69
148
-128
-74
-24
127
Equity in (earnings) loss from Real Estate Affiliates, net of distributions
30
0
0
0
0
0
0
Depreciation
17
15
14
19
30
51
82
Amortization
3
2
3
5
4
5
17
Amortization of deferred financing costs
1
1
2
1
3
4
6
Amortization of intangibles other than in-place leases
0
0
0
0
0
1
0
Straight-line rent amortization
0
0
-1
-1
-4
0
-5
Deferred income taxes
-23
-636
-19
4
8
65
21
Loss on dispositions
1
0
0
0
0
0
0
Restricted stock and stock option amortization
0
0
0
0
6
8
7
Gain on disposition of assets
0
0
0
0
-8
-2
-29
Warrant liability (gain) loss
0
141
-102
185
182
61
-58
Reduction (increase) in tax indemnity receivable
0
0
0
20
1
0
0
Interest income related to tax indemnity
0
0
0
-8
-2
-22
0
Loss on settlement of tax indemnity receivable
0
0
0
0
0
74
0
Equity in earnings from Real Estate and Other Affiliates, net of distributions
0
-9
-4
0
-7
11
1
Investment in Real Estate Affiliate Basis Adjustment
0
0
6
0
0
0
0
Provision for doubtful accounts
3
2
0
1
1
1
4
Provisions for impairment
680
503
0
0
0
0
0
Represents the financial cost related to emerged entities included in the reorganization item.
2
1
0
0
0
0
0
Non-cash reorganization items
-12
-3
0
0
0
0
0
Master Planned Community land acquisitions
0
0
0
0
-6
-101
-7
Master Planned Community development expenditures
-61
-57
-90
-107
-134
-141
-197
Master Planned Community cost of sales
22
24
65
87
113
111
69
Condominium development expenditures
0
0
0
0
-21
-76
-191
Condominium and other cost of sales
0
0
14
0
17
50
192
Deferred rental income
0
0
0
0
0
0
46
Proceeds from sale of condominium rights
0
0
0
0
48
0
0
Percentage of completion revenue recognition from sale of condominium rights and units
0
0
0
0
-33
-84
-305
Non-monetary consideration related to land transactions
0
0
0
0
0
-17
0
Proceeds received on settlement of tax indemnity receivable
0
0
0
0
0
138
0
Payment to IRS relating to tax court decision
0
0
0
0
0
-203
0
Accounts and notes receivable
-2
1
28
52
6
45
50
Prepaid expenses and other assets
25
19
2
4
-2
-6
-2
Condominium deposits received
0
0
0
0
0
139
82
Deferred expenses
-2
-2
0
-2
-19
-37
-12
Accounts payable and accrued expenses
2
0
20
15
20
37
30
Condominium deposits held in escrow
0
0
0
0
0
-139
-82
Condominium deposits released from escrow
0
0
0
0
0
0
178
Other, net
1
0
-3
-1
1
-9
0
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
-18
-68
87
153
129
-58
24
Property and Equipment Expenditures
0
0
-1
-1
-32
-9
-15
Operating property improvements
0
0
-8
-14
-17
-6
-8
Property developments and redevelopments
-28
-112
-35
-59
-221
-759
-579
Proceeds from grant to reimburse development costs
0
0
6
0
0
0
0
Proceeds from disposition of 80 South Street Assemblage, net
0
0
1
0
11
12
25
Acquisition of properties
0
0
0
-3
0
0
0
Proceeds from insurance claims
0
0
5
0
0
13
0
Proceeds from sales of investment in Real Estate Affiliates
6
0
0
9
13
0
0
Investments in Real Estate Affiliates
0
0
0
0
0
0
0
Investments in Real Estate and Other Affiliates, net
0
0
0
-5
-4
-6
-2
Change in restricted cash
0
0
-8
-15
-17
21
-7
Other
0
0
0
0
0
0
1
Change in GGP investment, net
51
217
0
0
0
0
0
Cash used in investing activities
-21
-112
-40
-81
-294
-746
-576
Proceeds from mortgages, notes and loans payable
0
0
305
68
1,120
598
584
Principal payments on mortgages, notes and loans payable
-10
-22
-407
-56
-280
-120
-104
Finance Costs Related to Emerged Entities
-2
-1
0
0
0
0
0
Cash distributions paid to preferred stockholders of Victoria Ward, Ltd.
0
0
0
0
0
0
0
Deferred financing costs
0
0
-4
-2
-7
-7
-4
Preferred dividend payment on behalf of REIT subsidiary
0
0
0
0
0
0
0
Distributions (contributions) to noncontrolling interests
-1
0
0
0
-3
0
0
Proceeds from issuance of management warrants
0
17
2
0
0
0
0
Purchase of Sponsors Warrants
0
0
0
-81
0
0
0
Proceeds from issuance of common stock and warrants to Plan Sponsors
0
251
0
0
0
0
0
Special Improvement District bonds held in escrow
0
0
0
0
0
0
-39
Cash provided by financing activities
38
461
-104
-70
831
470
436
Net change in cash and cash equivalents
-2
281
-57
2
666
-334
-115
Remarks
restated on Nov 30, -1 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,
restated on Feb 27, 2014 n/a
calculated values,
restated on Mar 2, 2015 n/a
calculated values,
restated on Feb 29, 2016 n/a
calculated values,
restated on Feb 29, 2016 n/a
calculated values,
restated on Nov 30, -1 n/a
calculated values,