Annual report pursuant to Section 13 and 15(d)

Basis of Presentation and Significant Accounting Policies (Tables)

v3.8.0.1
Basis of Presentation and Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Basis of Presentation and Significant Accounting Policies [Abstract]  
Schedule of Deferred Income



 

 

 

 

 

 



 

 

 

 

 

 



 

As of December 31,



 

2017

 

2016



 

 

 

 

 

 

Deferred sampler program income

 

$

10,056 

 

$

11,821 

Deferred VOI sales revenue

 

 

22,461 

 

 

21,126 

Other deferred income

 

 

3,794 

 

 

4,068 

Total

 

$

36,311 

 

$

37,015 



Expected Impacts To Reported Results





 



 

 

 

 

 

 

 

 



 

As of and for the Year ended December 31, 2017



 

As Reported Herein

 

 

New Revenue Standard Adjustment

 

 

As Adjusted

Balance Sheet:

 

 

 

 

 

 

 

 

Notes receivable, net

$

431,801 

 

$

(4,507)

 

$

427,294 

Deferred income

 

36,311 

 

 

(19,418)

 

 

16,893 

Deferred income taxes

 

83,628 

 

 

3,647 

 

 

87,275 

Total shareholders' equity

$

424,517 

 

$

11,264 

 

$

435,781 



 

 

 

 

 

 

 

 

Income Statement:

 

 

 

 

 

 

 

 

Sales of VOIs

$

239,662 

 

$

12,633 

 

$

252,295 

Reimbursement revenue

 

 —

 

 

52,639 

 

 

52,639 

Cost of reimbursement

 

 —

 

 

52,639 

 

 

52,639 

Cost of VOIs sold

 

17,439 

 

 

240 

 

 

17,679 

Selling, general and administrative expenses

 

416,970 

 

 

453 

 

 

417,423 

Income before non-controlling interest and provision
for income taxes

 

135,336 

 

 

11,940 

 

 

147,276 

Provision for income taxes

 

(2,974)

 

 

2,464 

 

 

(510)

Net income

 

138,310 

 

 

9,476 

 

 

147,786 

   Less: Net income attributable to non-controlling interest

 

12,784 

 

 

463 

 

 

13,247 

Net income attributable to Bluegreen Vacations Corporation
shareholders

$

125,526 

 

$

9,013 

 

$

134,539 

Basic and diluted earnings per share

$

1.76 

 

$

0.13 

 

$

1.89 







 

 

 

 

 

 

 

 



 

As of and for the Year ended December 31, 2016



 

As Reported Herein

 

 

New Revenue Standard Adjustment

 

 

As Adjusted

Balance Sheet:

 

 

 

 

 

 

 

 

Notes receivable, net

$

430,480 

 

$

(4,600)

 

$

425,880 

Deferred income

 

37,015 

 

 

(17,493)

 

 

19,522 

Deferred income taxes

 

126,278 

 

 

4,734 

 

 

131,012 

Total shareholders' equity

$

290,208 

 

$

8,160 

 

$

298,368 



 

 

 

 

 

 

 

 

Income Statement:

 

 

 

 

 

 

 

 

Sales of VOIs

$

266,142 

 

$

14,781 

 

$

280,923 

Reimbursement revenue

 

 —

 

 

49,557 

 

 

49,557 

Cost of reimbursement

 

 —

 

 

49,557 

 

 

49,557 

Cost of VOIs sold

 

27,346 

 

 

1,483 

 

 

28,829 

Selling, general and administrative expenses

 

415,027 

 

 

1,572 

 

 

416,599 

Income before non-controlling interest and provision
for income taxes

 

124,948 

 

 

11,726 

 

 

136,674 

Provision for income taxes

 

40,172 

 

 

4,276 

 

 

44,448 

Net income

 

84,776 

 

 

7,450 

 

 

92,226 

   Less: Net income attributable to non-controlling interest

 

9,825 

 

 

401 

 

 

10,226 

Net income attributable to Bluegreen Vacations Corporation
shareholders

$

74,951 

 

$

7,049 

 

$

82,000 

Basic and diluted earnings per share

$

1.06 

 

$

0.10 

 

$

1.16