v3.8.0.1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Operating Activities |  |
Net income (loss) | $ (2,343) | $ 2,439
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |
Depreciation and amortization | 2,064 | 1,626
Amortization of share-based compensation | 662 | 626
Impairment charges | 653 | 149
Deferred income taxes, net | (738) | 1,665
Other adjustments | 95 | 366
Changes in operating assets and liabilities: |  |
Receivables | 5,875 | 4,590
Land and other inventories | (36,631) | (14,910)
Prepaid expenses and other assets | 892 | 1,507
Accounts payable, estimated development liability, and accrued and other liabilities | 3,977 | (8,888)
Customer deposits | 3,033 | 3,063
Net cash used in operating activities | (22,461) | (7,767)
Investing Activities |  |
Investment in property and equipment | (925) | (736)
Business acquisitions | (42,199) |
Investment in unconsolidated entities |  | (17)
Net cash used in investing activities | (43,124) | (753)
Financing Activities |  |
Other financing activities | (54) | (362)
Net cash used in financing activities | (54) | (362)
Increase (decrease) in cash, cash equivalents and restricted cash | (65,639) | (8,882)
Cash, cash equivalents and restricted cash at beginning of year | 242,155 | 69,023
Cash, cash equivalents and restricted cash at end of year | 176,516 | 60,141
Supplemental cash flow information: |  |
Interest paid, net of capitalized interest | (2,727) | $ 5,532
Supplemental non-cash investing activity: |  |
Accrual of contingent consideration as of the acquisition date | $ 2,418 |

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