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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 54,979 $ (57,272)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Equity in (earnings) loss from unconsolidated entities (52,554) 4,654
Return on investment from Great Park Venture 52,736 0
Depreciation and amortization 13,077 9,763
Share-based compensation 2,610 5,451
Changes in operating assets and liabilities:    
Inventories (12,245) (131,288)
Related party assets 4,244 (4,778)
Other assets 3,581 (878)
Accounts payable and other liabilities 5,893 (7,866)
Related party liabilities (7,257) 7,191
Net cash provided by (used in) operating activities 65,064 (175,023)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Contribution to Valencia Landbank Venture 0 (95)
Purchase of properties and equipment 0 (62)
Net cash provided by investing activities 29,946 2,307
CASH FLOWS FROM FINANCING ACTIVITIES:    
Related party reimbursement obligation (4,282) (3,196)
Reacquisition of share-based compensation awards for tax-withholding purposes (202) (2,736)
Tax distributions to noncontrolling interests (4,033) (435)
Net cash used in financing activities (8,517) (6,367)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 86,493 (179,083)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period 132,763 266,792
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period 219,256 87,709
Great Park Venture    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Equity in (earnings) loss from unconsolidated entities (53,072) 5,634
CASH FLOWS FROM INVESTING ACTIVITIES:    
Return of investment 29,028 0
Valencia Landbank Venture    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Equity in (earnings) loss from unconsolidated entities (500) (900)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Return of investment $ 918 $ 2,464