XML 186 R9.htm IDEA: XBRL DOCUMENT
v3.23.4

Restatement of Previously Issued Consolidated Financial Statements | 3 Months Ended
--- | ---
Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract] |
Restatement of Previously Issued Consolidated Financial Statements | Restatement of Previously Issued Consolidated Financial Statements During the quarter ended June 30, 2023, the Company identified and corrected an error related to the classification of cash outflows associated with the purchase of manufactured homes in the Consolidated Statements of Cash Flows. Previously, the Company classified these cash outflows within investing activities in the Consolidated Statements of Cash Flows. Based on the predominance principle in ASC 230-10-45-22, the Company determined that all of the cash flows associated with the purchase and sale of manufactured homes should be classified within operating activities in the Consolidated Statements of Cash Flows. There was no impact to the Consolidated Statements of Income and Comprehensive Income, Consolidated Balance Sheets, or Consolidated Statements of Changes in Equity for any periods presented. The Company is correcting this misclassification by restating its Consolidated Statements of Cash Flows through this Amended Report. The impact on the line items within the previously reported Consolidated Statements of Cash Flows for the quarters ended March 31, 2023 and 2022 previously filed in the Original Report are as follows (in thousands):
| Three Month Ended March 31, 2023 |  | Three Month Ended March 31, 2022 |  |
Operating Activities | As Reported | Adjustment | As Restated |  | As Reported | Adjustment | As Restated |  |  |  |
Manufactured homes, net | $ | — |  | (19,574) |  | $ | (19,574) |  |  | $ | — |  | $ | (1,378) |  | $ | (1,378) |  |  |  |  |
Other assets, net | $ | 21,763 |  | (15,907) |  | $ | 5,856 |  |  | $ | 23,168 |  | $ | (21,311) |  | $ | 1,857 |  |  |  |  |
Net cash provided by operating activities | $ | 194,461 |  | (35,481) |  | $ | 158,980 |  |  | $ | 177,331 |  | (22,689) |  | $ | 154,642 |  |  |  |  |
Investing Activities |  |  |  |  |  |  |  |  |  |  |
Capital improvements | $ | (96,455) |  | 35,481 |  | $ | (60,974) |  |  | $ | (83,647) |  | $ | 22,689 |  | $ | (60,958) |  |  |  |  |
Net cash used in investing activities | $ | (101,928) |  | 35,481 |  | $ | (66,447) |  |  | $ | (105,182) |  | $ | 22,689 |  | $ | (82,493) |  |  |  |  |
Cash and restricted cash, end of period | $ | 30,661 |  | — | $ | 30,661 |  |  | $ | 38,120 |  | — | $ | 38,120 |  |  |  |  |
In addition, capital improvements in our Home Sales and Rental Operations segment shown in Note 14. Reportable Segments has been updated to reflect the restatement to our Consolidated Statements of Cash Flows.

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting error correction. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 + Details
Name: | us-gaap_ErrorCorrectionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration