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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 71 $ 42,880
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 5,085 5,488
Equity in income of unconsolidated entities, net (750) (534)
Deferred income taxes, net 7 5,024
Amortization of stock-based compensation 3,435 3,470
Charges for impairments and lot option abandonments 5,202 248
Changes in assets and liabilities:    
Real estate inventories (29,695) (87,107)
Receivables (6,642) 70,351
Other assets (5,476) 2,308
Accounts payable (14,708) 3,379
Accrued expenses and other liabilities (73,446) 2,165
Returns on investments in unconsolidated entities, net 1,992 2,214
Net cash (used in) provided by operating activities (114,925) 49,886
Cash flows from investing activities:    
Purchases of property and equipment (7,224) (2,170)
Proceeds from sale of property and equipment 7 0
Investments in unconsolidated entities (231) (947)
Net cash used in investing activities (7,448) (3,117)
Cash flows from financing activities:    
Repayment of debt (10) 0
Debt issuance costs (3,124) 0
Distributions to noncontrolling interests 0 (1)
Proceeds from issuance of common stock under share-based awards 198 975
Minimum tax withholding paid on behalf of employees for share-based awards (3,605) (6,049)
Net cash used in financing activities (6,541) (5,075)
Net (decrease) increase in cash and cash equivalents (128,914) 41,694
Cash and cash equivalents–beginning of period 277,696 282,914
Cash and cash equivalents–end of period $ 148,782 $ 324,608