XML 50 R40.htm IDEA: XBRL DOCUMENT v3.19.2
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Summary of Discontinued Operations in Financial Statements

The carrying amount of the assets and liabilities from discontinued operations, which were included within the Homebuilding segment, have been reclassified from their historical balance sheet presentation to assets and liabilities from discontinued operations as follows:

 

 

June 30,

2019

 

 

December 31,

2018

 

ASSETS

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

2,766

 

 

$

4,926

 

Restricted cash

 

 

1,090

 

 

 

1,231

 

Trade receivables

 

 

1,290

 

 

 

527

 

Real estate inventories

 

 

14,285

 

 

 

20,082

 

Other assets, net

 

 

1,236

 

 

 

1,102

 

TOTAL ASSETS

 

$

20,667

 

 

$

27,868

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

 

4,825

 

 

 

4,839

 

Notes payable - secured by real estate inventories, net of deferred financing charges

 

 

7,027

 

 

 

12,510

 

Income taxes payable

 

 

25

 

 

 

50

 

TOTAL LIABILITIES

 

 

11,877

 

 

 

17,399

 

The operating results of the discontinued operations that are reflected on the consolidated statement of operations within the net loss from discontinued operations are as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue—homebuilding

 

$

6,845

 

 

$

10,709

 

 

$

13,614

 

 

$

16,270

 

Revenue—real estate services

 

 

—

 

 

 

137

 

 

 

—

 

 

 

137

 

Total revenue

 

 

6,845

 

 

 

10,846

 

 

 

13,614

 

 

 

16,407

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales—homebuilding

 

 

6,898

 

 

 

11,554

 

 

 

13,620

 

 

 

17,069

 

Impairment charges

 

 

—

 

 

 

216

 

 

 

-

 

 

 

774

 

Sales and marketing

 

 

67

 

 

 

204

 

 

 

181

 

 

 

423

 

General and administrative

 

 

19

 

 

 

—

 

 

 

20

 

 

 

—

 

Interest and real estate tax expense

 

 

—

 

 

 

—

 

 

 

—

 

 

 

61

 

Operating loss

 

 

(139

)

 

 

(1,128

)

 

 

(207

)

 

 

(1,920

)

Other income, net

 

 

—

 

 

 

6

 

 

 

—

 

 

 

5

 

Loss from discontinued operations before income taxes

 

 

(139

)

 

 

(1,122

)

 

 

(207

)

 

 

(1,915

)

Income tax expense

 

 

7

 

 

 

11

 

 

 

10

 

 

 

17

 

Net loss from discontinued operations

 

 

(146

)

 

 

(1,133

)

 

 

(217

)

 

 

(1,932

)

Net income attributable to non-controlling interests

 

 

13

 

 

 

185

 

 

 

313

 

 

 

280

 

Net loss attributable to Comstock Holding Companies, Inc.

 

 

(159

)

 

 

(1,318

)

 

 

(530

)

 

 

(2,212

)