2017 Q1 Form 10-Q Financial Statement

#000079526617000034 Filed on April 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $818.6M $678.4M
YoY Change 20.67% 16.94%
Cost Of Revenue $698.1M $568.8M
YoY Change 22.73% 15.52%
Gross Profit $119.7M $108.7M
YoY Change 10.12% 25.31%
Gross Profit Margin 14.62% 16.02%
Selling, General & Admin $92.89M $87.93M
YoY Change 5.64% 23.72%
% of Gross Profit 77.6% 80.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $900.0K
YoY Change -11.11% 12.5%
% of Gross Profit 0.67% 0.83%
Operating Expenses $92.89M $87.93M
YoY Change 5.64% 23.72%
Operating Profit $25.28M $18.99M
YoY Change 33.09% 31.91%
Interest Expense $6.307M $3.697M
YoY Change 70.6% -30.74%
% of Operating Profit 24.95% 19.47%
Other Income/Expense, Net
YoY Change
Pretax Income $21.46M $16.03M
YoY Change 33.89% 52.65%
Income Tax $7.200M $2.900M
% Of Pretax Income 33.55% 18.09%
Net Earnings $14.26M $13.13M
YoY Change 8.62% 68.32%
Net Earnings / Revenue 1.74% 1.94%
Basic Earnings Per Share $0.17 $0.15
Diluted Earnings Per Share $0.15 $0.14
COMMON SHARES
Basic Shares Outstanding 85.12M shares 89.24M shares
Diluted Shares Outstanding 96.27M shares 99.43M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $351.9M $323.1M
YoY Change 8.91% -40.78%
Cash & Equivalents $352.5M $324.9M
Short-Term Investments
Other Short-Term Assets $9.700M $34.80M
YoY Change -72.13% -7.2%
Inventory $3.423B $3.469B
Prepaid Expenses
Receivables $93.90M $152.1M
Other Receivables $144.5M $0.00
Total Short-Term Assets $4.023B $3.979B
YoY Change 1.12% 0.14%
LONG-TERM ASSETS
Property, Plant & Equipment $14.45M $13.61M
YoY Change 6.14% 17.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $80.40M $81.40M
YoY Change -1.23% -2.63%
Other Assets $731.9M $783.8M
YoY Change -6.62% -7.85%
Total Long-Term Assets $899.3M $943.5M
YoY Change -4.68% -7.2%
TOTAL ASSETS
Total Short-Term Assets $4.023B $3.979B
Total Long-Term Assets $899.3M $943.5M
Total Assets $4.923B $4.922B
YoY Change 0.01% -1.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $178.5M $167.6M
YoY Change 6.5% 3.52%
Accrued Expenses $475.6M $457.2M
YoY Change 4.02% 28.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $670.8M $641.7M
YoY Change 4.53% 20.92%
LONG-TERM LIABILITIES
Long-Term Debt $2.504B $2.653B
YoY Change -5.59% -6.07%
Other Long-Term Liabilities $9.600M $9.100M
YoY Change 5.49% -67.96%
Total Long-Term Liabilities $2.514B $2.662B
YoY Change -5.55% -6.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $670.8M $641.7M
Total Long-Term Liabilities $2.514B $2.662B
Total Liabilities $3.186B $3.305B
YoY Change -3.6% -2.37%
SHAREHOLDERS EQUITY
Retained Earnings $1.576B $1.478B
YoY Change 6.65% 5.79%
Common Stock $814.0M $797.2M
YoY Change 2.1% 1.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $537.9M $534.6M
YoY Change 0.63% 19.73%
Treasury Stock Shares
Shareholders Equity $1.736B $1.617B
YoY Change
Total Liabilities & Shareholders Equity $4.923B $4.922B
YoY Change 0.01% -1.36%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $14.26M $13.13M
YoY Change 8.62% 68.32%
Depreciation, Depletion And Amortization $800.0K $900.0K
YoY Change -11.11% 12.5%
Cash From Operating Activities -$77.04M -$143.3M
YoY Change -46.24% 193.02%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$1.400M
YoY Change -28.57% 133.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$8.658M -$1.704M
YoY Change 408.1% -43.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.543M $87.53M
YoY Change -97.09% 416690.48%
Debt Paid & Issued, Net $105.3M
YoY Change
Cash From Financing Activities -$154.9M -$90.47M
YoY Change 71.17% -137.5%
NET CHANGE
Cash From Operating Activities -$77.04M -$143.3M
Cash From Investing Activities -$8.658M -$1.704M
Cash From Financing Activities -$154.9M -$90.47M
Net Change In Cash -$240.6M -$235.5M
YoY Change 2.15% -224.39%
FREE CASH FLOW
Cash From Operating Activities -$77.04M -$143.3M
Capital Expenditures -$1.000M -$1.400M
Free Cash Flow -$76.04M -$141.9M
YoY Change -46.42% 193.76%

Facts In Submission

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CY2017Q1 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
182750000 USD
CY2016Q1 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2017Q1 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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731000 USD
CY2016Q1 us-gaap Equity Method Investment Summarized Financial Information Revenue
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3338000 USD
CY2017Q1 us-gaap Equity Method Investment Summarized Financial Information Revenue
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19722000 USD
CY2016Q1 us-gaap Financial Services Costs
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859000 USD
CY2017Q1 us-gaap Financial Services Costs
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819000 USD
CY2016Q4 us-gaap Financial Services Liabilities
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2003000 USD
CY2017Q1 us-gaap Financial Services Liabilities
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1278000 USD
CY2016Q1 us-gaap Financial Services Revenue
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2629000 USD
CY2017Q1 us-gaap Financial Services Revenue
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2350000 USD
CY2016Q1 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017Q1 us-gaap Gains Losses On Extinguishment Of Debt
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-5685000 USD
CY2016Q1 us-gaap Home Building Revenue
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675742000 USD
CY2017Q1 us-gaap Home Building Revenue
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816246000 USD
CY2016Q1 us-gaap Impairment Of Real Estate
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1346000 USD
CY2016 us-gaap Impairment Of Real Estate
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49600000 USD
CY2017Q1 us-gaap Impairment Of Real Estate
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3217000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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16027000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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21459000 USD
CY2016Q1 us-gaap Income Loss From Equity Method Investments
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-1190000 USD
CY2017Q1 us-gaap Income Loss From Equity Method Investments
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760000 USD
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0 USD
CY2017Q1 us-gaap Income Loss From Subsidiaries Net Of Tax
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0 USD
CY2016Q1 us-gaap Income Tax Credits And Adjustments
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-3300000 USD
CY2017Q1 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
-1100000 USD
CY2016Q1 us-gaap Income Tax Expense Benefit
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2900000 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7200000 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7200000 USD
CY2016Q1 us-gaap Income Taxes Paid
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458000 USD
CY2017Q1 us-gaap Income Taxes Paid
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836000 USD
CY2016Q1 us-gaap Increase Decrease In Accounts And Notes Receivable
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-3999000 USD
CY2017Q1 us-gaap Increase Decrease In Accounts And Notes Receivable
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6788000 USD
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-20558000 USD
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-64105000 USD
CY2016Q1 us-gaap Increase Decrease In Deferred Income Taxes
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-2800000 USD
CY2017Q1 us-gaap Increase Decrease In Deferred Income Taxes
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-7100000 USD
CY2016Q1 us-gaap Increase Decrease In Inventories
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150265000 USD
CY2017Q1 us-gaap Increase Decrease In Inventories
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36878000 USD
CY2016Q1 us-gaap Increase Decrease In Other Operating Capital Net
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1246000 USD
CY2017Q1 us-gaap Increase Decrease In Other Operating Capital Net
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5182000 USD
CY2016Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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8402000 shares
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CY2017Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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8402000 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1786000 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2749000 shares
CY2016Q1 us-gaap Insurance Commissions And Fees
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1576000 USD
CY2017Q1 us-gaap Insurance Commissions And Fees
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1210000 USD
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0 USD
CY2017Q1 us-gaap Interest And Other Income
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5000 USD
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3697000 USD
CY2017Q1 us-gaap Interest Expense
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6307000 USD
CY2016Q1 us-gaap Interest On Convertible Debt Net Of Tax
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667000 USD
CY2017Q1 us-gaap Interest On Convertible Debt Net Of Tax
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663000 USD
CY2016Q1 us-gaap Interest Paid
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CY2017Q1 us-gaap Interest Paid
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CY2017Q1 us-gaap Interest Payable Current And Noncurrent
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1245938000 USD
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1332386000 USD
CY2016Q4 us-gaap Inventory Land Held For Development And Sale
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429633000 USD
CY2017Q1 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
432683000 USD
CY2016Q4 us-gaap Inventory Land Held For Sale
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63400000 USD
CY2017Q1 us-gaap Inventory Land Held For Sale
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71700000 USD
CY2016Q4 us-gaap Inventory Operative Builders
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3403228000 USD
CY2017Q1 us-gaap Inventory Operative Builders
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3423344000 USD
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1727657000 USD
CY2017Q1 us-gaap Inventory Real Estate Land And Land Development Costs
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1658275000 USD
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152000 USD
CY2017Q1 us-gaap Investment Income Interest
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198000 USD
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64016000 USD
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64916000 USD
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0 USD
CY2017Q1 us-gaap Investments In And Advances To Affiliates Amount Of Equity
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0 USD
CY2016Q4 us-gaap Letters Of Credit Outstanding Amount
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31000000 USD
CY2017Q1 us-gaap Letters Of Credit Outstanding Amount
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31000000 USD
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4922580000 USD
CY2017Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
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275000000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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1050000000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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194300000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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350000000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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630000000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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300000000 USD
CY2017Q1 us-gaap Long Term Purchase Commitment Amount
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48400000 USD
CY2017Q1 us-gaap Longterm Purchase Commitment Period
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P4Y
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CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2016Q1 us-gaap Net Income Loss
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13127000 USD
CY2017Q1 us-gaap Net Income Loss
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14259000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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13067000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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14159000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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13739000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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14832000 USD
CY2016Q1 us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
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32435000 USD
CY2017Q1 us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
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7814000 USD
CY2016Q4 us-gaap Notes And Loans Payable
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2640149000 USD
CY2017Q1 us-gaap Notes And Loans Payable
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2504449000 USD
CY2017Q1 us-gaap Number Of Reportable Segments
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5 segment
CY2016Q1 us-gaap Operating Income Loss
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18992000 USD
CY2017Q1 us-gaap Operating Income Loss
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25277000 USD
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CY2017Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
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9578000 USD
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91145000 USD
CY2017Q1 us-gaap Other Assets
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28745000 USD
CY2017Q1 us-gaap Other Receivables
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33122000 USD
CY2016Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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10000 USD
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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15000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
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0 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
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0 USD
CY2016Q1 us-gaap Payments For Proceeds From Productive Assets
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1413000 USD
CY2017Q1 us-gaap Payments For Proceeds From Productive Assets
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1015000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
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87526000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
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2543000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
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2270000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
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2215000 USD
CY2016Q1 us-gaap Payments To Acquire Interest In Joint Venture
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291000 USD
CY2017Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
8750000 USD
CY2017Q1 us-gaap Pledged Assets Not Separately Reported Real Estate
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60500000 USD
CY2016Q4 us-gaap Prepaid Expense Current And Noncurrent
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4894000 USD
CY2017Q1 us-gaap Prepaid Expense Current And Noncurrent
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8610000 USD
CY2016Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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0 USD
CY2017Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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1107000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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0 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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662000 USD
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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4987000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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0 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Secured Debt
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CY2017Q1 us-gaap Proceeds From Repayments Of Secured Debt
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CY2016Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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259000 USD
CY2017Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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0 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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14240000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
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14450000 USD
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
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288442000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
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300314000 USD
CY2016Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
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306723000 USD
CY2017Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
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311111000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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30682000 USD
CY2017Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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39384000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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46251000 USD
CY2017Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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50079000 USD
CY2016Q1 us-gaap Repayments Of Senior Debt
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0 USD
CY2017Q1 us-gaap Repayments Of Senior Debt
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105326000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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1563742000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
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1575786000 USD
CY2016Q1 us-gaap Revenues
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678371000 USD
CY2017Q1 us-gaap Revenues
Revenues
818596000 USD
CY2015Q4 us-gaap Self Insurance Reserve
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173011000 USD
CY2016Q1 us-gaap Self Insurance Reserve
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173017000 USD
CY2016Q4 us-gaap Self Insurance Reserve
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158584000 USD
CY2017Q1 us-gaap Self Insurance Reserve
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159882000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
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87932000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
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92889000 USD
CY2016Q1 us-gaap Share Based Compensation
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2893000 USD
CY2017Q1 us-gaap Share Based Compensation
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3152000 USD
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10307866 shares
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19.78
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124090 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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0 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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38400000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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12731545 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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12532601 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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18.95
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.01
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.85
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
19.46
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
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33300000 USD
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y3M0D
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M0D
CY2015Q4 us-gaap Standard Product Warranty Accrual
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49085000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
50575000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
56682000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
57710000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4021000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
6112000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5252000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
7140000 USD
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
74854 shares
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
0 USD
CY2017Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
662000 USD
CY2016Q4 us-gaap Stockholders Equity
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1723145000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
1736460000 USD
CY2016Q4 us-gaap Taxes Payable Current And Noncurrent
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14370000 USD
CY2017Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
10547000 USD
CY2016Q4 us-gaap Treasury Stock Value
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535402000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
537945000 USD
CY2017Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2543000 USD
CY2016Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
50000 USD
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
85000 USD
CY2016Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
50000 USD
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
85000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
100000 USD
CY2017Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99427000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96273000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89239000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85122000 shares
CY2017Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update No. 2014-09, &#8220;Revenue from Contracts with Customers (Topic 606)&#8221; (&#8220;ASU 2014-09&#8221;). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, &#8220;Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,&#8221; which delayed the effective date of ASU 2014-09 by one year. In 2016, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us for annual and interim periods beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements, as well as the adoption method we will use, and have been involved in industry specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued Accounting Standards Update No. 2016-02, &#8220;Leases (Topic 842)&#8221; (&#8220;ASU 2016-02&#8221;). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted) and mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued Accounting Standards Update No. 2016-09, &#8220;Compensation &#8212; Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting&#8221; (&#8220;ASU 2016-09&#8221;). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 will be effective for us beginning December 1, 2017 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued Accounting Standards Update No. 2016-15, &#8220;Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments&#8221; (&#8220;ASU 2016-15&#8221;). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning after December 1, 2018 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements.</font></div></div>
CY2017Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation.</font></div></div>
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>

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