HHH: the cash flow

Cash Flow Overview

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-06-30

2026-03-31

2025-12-31

2025-09-30

Operating income (loss)

331,515

Interest income

46,998

Interest expense

169,931

Gain (loss) on extinguishment of debt

-698

Gain (loss) on sale of mud receivables

Equity in earnings (losses) from unconsolidated ventures

1,772

Income tax expense (benefit)

37,616

Net income (loss) from discontinued operations, net of tax

Net income (loss)

156,957

8,065

5,679

118,164

Net income (loss) from continuing operations

5,679

119,402

Depreciation

50,408

43,873

42,612

41,654

Amortization

26,514

4,785

4,872

4,812

Amortization and accretion of investment securities

157

Amortization of deferred financing costs

3,202

3,213

3,045

3,125

Amortization of intangibles other than in-place leases

Straight-line rent amortization

1,593

3,235

1,098

1,202

Deferred income taxes

37,346

1,851

-5,934

31,015

Restricted stock and stock option amortization

4,352

4,074

3,804

4,246

Net gain on sale of properties

51,800

-9

14,449

Investment (gain) loss, net

-38,278

(gain) loss on foreign exchange

-73

Loss on sale of mud receivables

-555

Proceeds from sale of mud receivables

17,540

(gain) loss on extinguishment of debt

-413

-10,226

-218

-173

Equity in (earnings) losses from unconsolidated ventures, net of distributions

-404

-8,508

4,432

-2,529

Provision for (recovery of) doubtful accounts

1,165

1,297

1,327

212

Master planned communities development expenditures

119,952

154,344

152,016

141,807

Master planned communities cost of sales, net of sid bonds transfers to buyers

51,957

33,307

24,881

78,200

Condominium development expenditures

141,751

136,221

113,246

112,065

Condominium rights and units cost of sales, net of closing commissions

557,072

3,020

357,841

Other

4,742

Accounts receivable, net

22,403

833

-14,841

3,309

Reinsurance recoverable on paid and unpaid losses

2,546

Other assets, net

30,752

-8,129

-28,506

17,213

Condominium deposits, net

-126,834

30,495

87,565

171,410

Deferred expenses, net

24,422

8,595

7,123

24,576

Accounts payable and other liabilities

-87,049

64,140

7,512

Reserves for claims and claim expenses

25,206

Cash provided by (used in) operating activities of continuing operations

360,263

149,758

Unearned premiums

22,334

Cash provided by (used in) operating activities of discontinued operations

Other liabilities, net

-52,050

Cash provided by (used in) operating activities

506,535

-229,404

360,263

149,758

Property and equipment expenditures

2,561

2,896

2,343

676

Operating property improvements

8,226

14,831

11,672

12,026

Property development and redevelopment

25,218

20,283

42,494

31,919

Sales of fixed maturity securities

2,335,763

Maturities, calls, and paydowns of fixed maturities securities

23,231

Purchases of short-term investments

201

Sales of short-term investments

4,606

Maturities, calls, and paydowns of short-term investments

600

Purchases of equity securities

1,113,489

Acquisition of business, net of cash acquired

1,639,220

Acquisition of assets

1,759

16,356

Proceeds from sales of properties, net

125,941

5,661

Reimbursements under tax increment financings and grants

2,207

672

1,404

Disbursement of loan to tenant

Proceeds from repayment of loan to tenant

Distributions from unconsolidated ventures

593

14,943

2,064

1,175

Investments in unconsolidated ventures, net

18,850

20,832

565

3,017

Other

-555

-11

1,458

Net parent investment in discontinued operations

Cash provided by (used in) investing activities of continuing operations

-57,008

-39,387

Cash provided by (used in) investing activities of discontinued operations

Cash provided by (used in) investing activities

-314,269

-43,185

-57,008

-39,387

Proceeds from mortgages, notes, and loans payable

108,698

1,450,585

158,955

218,080

Principal payments on mortgages, notes, and loans payable

439,961

755,100

340,096

154,104

Proceeds from issuance of common stock, net

-122

Proceeds from issuance of series a preferred stock, net

997,353

Proceeds from issuance of warrants

10,000

Debt extinguishment costs

180

6,720

218

Special improvement district bond funds released from (held in) escrow

8,620

1,354

6,013

Deferred financing costs and bond issuance costs

1,804

18,439

-172

4,580

Taxes paid on stock options exercised and restricted stock vested

5,750

204

856

Stock options exercised

1,026

Contributions from teravalis noncontrolling interest owner

124

138

102

149

Cash provided by (used in) financing activities of continuing operations

-179,901

64,604

Cash provided by (used in) financing activities of discontinued operations

Cash provided by (used in) financing activities

683,805

664,714

-179,901

64,604

Net change in cash, cash equivalents, and restricted cash

876,071

392,125

123,354

174,975

Cash, cash equivalents, and restricted cash at beginning of period

1,973,804

998,503

Cash, cash equivalents, and restricted cash at end of period

3,365,354

2,489,283

1,973,804

Cash and cash equivalents

2,647,959

Restricted cash

717,395

Cash, cash equivalents, and restricted cash at end of period

3,365,354

Time Plot

Show the time plot by selecting a row from the table.

Cash Flow Overview

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-06-30

2026-03-31

2025-12-31

2025-09-30

Operating income (loss)

331,515

Interest income

46,998

Interest expense

169,931

Gain (loss) on extinguishment of debt

-698

Gain (loss) on sale of mud receivables

Equity in earnings (losses) from unconsolidated ventures

1,772

Income tax expense (benefit)

37,616

Net income (loss) from discontinued operations, net of tax

Net income (loss)

156,957

8,065

5,679

118,164

Net income (loss) from continuing operations

5,679

119,402

Depreciation

50,408

43,873

42,612

41,654

Amortization

26,514

4,785

4,872

4,812

Amortization and accretion of investment securities

157

Amortization of deferred financing costs

3,202

3,213

3,045

3,125

Amortization of intangibles other than in-place leases

Straight-line rent amortization

1,593

3,235

1,098

1,202

Deferred income taxes

37,346

1,851

-5,934

31,015

Restricted stock and stock option amortization

4,352

4,074

3,804

4,246

Net gain on sale of properties

51,800

-9

14,449

Investment (gain) loss, net

-38,278

(gain) loss on foreign exchange

-73

Loss on sale of mud receivables

-555

Proceeds from sale of mud receivables

17,540

(gain) loss on extinguishment of debt

-413

-10,226

-218

-173

Equity in (earnings) losses from unconsolidated ventures, net of distributions

-404

-8,508

4,432

-2,529

Provision for (recovery of) doubtful accounts

1,165

1,297

1,327

212

Master planned communities development expenditures

119,952

154,344

152,016

141,807

Master planned communities cost of sales, net of sid bonds transfers to buyers

51,957

33,307

24,881

78,200

Condominium development expenditures

141,751

136,221

113,246

112,065

Condominium rights and units cost of sales, net of closing commissions

557,072

3,020

357,841

Other

4,742

Accounts receivable, net

22,403

833

-14,841

3,309

Reinsurance recoverable on paid and unpaid losses

2,546

Other assets, net

30,752

-8,129

-28,506

17,213

Condominium deposits, net

-126,834

30,495

87,565

171,410

Deferred expenses, net

24,422

8,595

7,123

24,576

Accounts payable and other liabilities

-87,049

64,140

7,512

Reserves for claims and claim expenses

25,206

Cash provided by (used in) operating activities of continuing operations

360,263

149,758

Unearned premiums

22,334

Cash provided by (used in) operating activities of discontinued operations

Other liabilities, net

-52,050

Cash provided by (used in) operating activities

506,535

-229,404

360,263

149,758

Property and equipment expenditures

2,561

2,896

2,343

676

Operating property improvements

8,226

14,831

11,672

12,026

Property development and redevelopment

25,218

20,283

42,494

31,919

Sales of fixed maturity securities

2,335,763

Maturities, calls, and paydowns of fixed maturities securities

23,231

Purchases of short-term investments

201

Sales of short-term investments

4,606

Maturities, calls, and paydowns of short-term investments

600

Purchases of equity securities

1,113,489

Acquisition of business, net of cash acquired

1,639,220

Acquisition of assets

1,759

16,356

Proceeds from sales of properties, net

125,941

5,661

Reimbursements under tax increment financings and grants

2,207

672

1,404

Disbursement of loan to tenant

Proceeds from repayment of loan to tenant

Distributions from unconsolidated ventures

593

14,943

2,064

1,175

Investments in unconsolidated ventures, net

18,850

20,832

565

3,017

Other

-555

-11

1,458

Net parent investment in discontinued operations

Cash provided by (used in) investing activities of continuing operations

-57,008

-39,387

Cash provided by (used in) investing activities of discontinued operations

Cash provided by (used in) investing activities

-314,269

-43,185

-57,008

-39,387

Proceeds from mortgages, notes, and loans payable

108,698

1,450,585

158,955

218,080

Principal payments on mortgages, notes, and loans payable

439,961

755,100

340,096

154,104

Proceeds from issuance of common stock, net

-122

Proceeds from issuance of series a preferred stock, net

997,353

Proceeds from issuance of warrants

10,000

Debt extinguishment costs

180

6,720

218

Special improvement district bond funds released from (held in) escrow

8,620

1,354

6,013

Deferred financing costs and bond issuance costs

1,804

18,439

-172

4,580

Taxes paid on stock options exercised and restricted stock vested

5,750

204

856

Stock options exercised

1,026

Contributions from teravalis noncontrolling interest owner

124

138

102

149

Cash provided by (used in) financing activities of continuing operations

-179,901

64,604

Cash provided by (used in) financing activities of discontinued operations

Cash provided by (used in) financing activities

683,805

664,714

-179,901

64,604

Net change in cash, cash equivalents, and restricted cash

876,071

392,125

123,354

174,975

Cash, cash equivalents, and restricted cash at beginning of period

1,973,804

998,503

Cash, cash equivalents, and restricted cash at end of period

3,365,354

2,489,283

1,973,804

Cash and cash equivalents

2,647,959

Restricted cash

717,395

Cash, cash equivalents, and restricted cash at end of period

3,365,354

Time Plot

Show the time plot by selecting a row from the table.