2017 Q2 Form 10-Q Financial Statement

#000079526617000052 Filed on July 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $1.003B $811.1M
YoY Change 23.64% 30.19%
Cost Of Revenue $846.6M $688.7M
YoY Change 22.93% 31.33%
Gross Profit $155.4M $121.5M
YoY Change 27.92% 24.41%
Gross Profit Margin 15.49% 14.98%
Selling, General & Admin $103.9M $93.81M
YoY Change 10.77% 19.45%
% of Gross Profit 66.88% 77.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $700.0K $900.0K
YoY Change -22.22% 12.5%
% of Gross Profit 0.45% 0.74%
Operating Expenses $103.9M $93.81M
YoY Change 10.77% 19.45%
Operating Profit $49.56M $25.94M
YoY Change 91.07% 45.21%
Interest Expense $0.00 $1.970M
YoY Change -100.0% -75.73%
% of Operating Profit 0.0% 7.6%
Other Income/Expense, Net
YoY Change
Pretax Income $51.98M $24.80M
YoY Change 109.63% 95.67%
Income Tax $20.20M $9.200M
% Of Pretax Income 38.86% 37.1%
Net Earnings $31.78M $15.60M
YoY Change 103.77% 62.93%
Net Earnings / Revenue 3.17% 1.92%
Basic Earnings Per Share $0.37 $0.18
Diluted Earnings Per Share $0.33 $0.17
COMMON SHARES
Basic Shares Outstanding 85.45M shares 84.20M shares
Diluted Shares Outstanding 97.73M shares 94.72M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $348.6M $274.8M
YoY Change 26.86% -37.53%
Cash & Equivalents $349.4M $276.5M
Short-Term Investments
Other Short-Term Assets $9.700M $31.80M
YoY Change -69.5% -9.92%
Inventory $3.488B $3.525B
Prepaid Expenses
Receivables $94.50M $151.1M
Other Receivables $140.2M $0.00
Total Short-Term Assets $4.081B $3.983B
YoY Change 2.47% -0.94%
LONG-TERM ASSETS
Property, Plant & Equipment $16.83M $14.14M
YoY Change 19.04% 20.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $75.40M $78.10M
YoY Change -3.46% -12.64%
Other Assets $711.9M $773.9M
YoY Change -8.01% -8.6%
Total Long-Term Assets $877.6M $933.0M
YoY Change -5.94% -8.4%
TOTAL ASSETS
Total Short-Term Assets $4.081B $3.983B
Total Long-Term Assets $877.6M $933.0M
Total Assets $4.959B $4.916B
YoY Change 0.87% -2.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $187.0M $190.3M
YoY Change -1.73% 15.61%
Accrued Expenses $464.1M $430.2M
YoY Change 7.88% 5.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $670.0M $640.8M
YoY Change 4.56% 50.25%
LONG-TERM LIABILITIES
Long-Term Debt $2.510B $2.632B
YoY Change -4.64% -6.65%
Other Long-Term Liabilities $4.900M $6.200M
YoY Change -20.97% -51.18%
Total Long-Term Liabilities $2.515B $2.638B
YoY Change -4.67% -6.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $670.0M $640.8M
Total Long-Term Liabilities $2.515B $2.638B
Total Liabilities $3.186B $3.281B
YoY Change -2.87% -4.16%
SHAREHOLDERS EQUITY
Retained Earnings $1.605B $1.491B
YoY Change 7.67% 6.2%
Common Stock $819.6M $801.9M
YoY Change 2.21% 1.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $537.3M $534.6M
YoY Change 0.5% 19.65%
Treasury Stock Shares
Shareholders Equity $1.772B $1.635B
YoY Change
Total Liabilities & Shareholders Equity $4.959B $4.916B
YoY Change 0.87% -2.45%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $31.78M $15.60M
YoY Change 103.77% 62.93%
Depreciation, Depletion And Amortization $700.0K $900.0K
YoY Change -22.22% 12.5%
Cash From Operating Activities $12.40M -$24.20M
YoY Change -151.24% -72.18%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M -$1.500M
YoY Change 106.67% 50.0%
Acquisitions
YoY Change
Other Investing Activities $3.500M -$500.0K
YoY Change -800.0% -95.37%
Cash From Investing Activities $500.0K -$1.900M
YoY Change -126.32% -83.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.90M -22.20M
YoY Change -28.38% 212.68%
NET CHANGE
Cash From Operating Activities 12.40M -24.20M
Cash From Investing Activities 500.0K -1.900M
Cash From Financing Activities -15.90M -22.20M
Net Change In Cash -3.000M -48.30M
YoY Change -93.79% -54.39%
FREE CASH FLOW
Cash From Operating Activities $12.40M -$24.20M
Capital Expenditures -$3.100M -$1.500M
Free Cash Flow $15.50M -$22.70M
YoY Change -168.28% -73.6%

Facts In Submission

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0 USD
CY2017Q2 us-gaap Due From Affiliates
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0 USD
CY2016Q4 us-gaap Due To Affiliate Current And Noncurrent
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0 USD
CY2017Q2 us-gaap Due To Affiliate Current And Noncurrent
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0 USD
CY2016Q2 us-gaap Earnings Per Share Basic
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0.18
us-gaap Earnings Per Share Basic
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0.33
CY2017Q2 us-gaap Earnings Per Share Basic
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0.37
us-gaap Earnings Per Share Basic
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CY2016Q2 us-gaap Earnings Per Share Diluted
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0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.371
us-gaap Effective Income Tax Rate Continuing Operations
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0.296
CY2017Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.389
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.373
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
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198824000 USD
CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
177774000 USD
CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
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18501000 USD
us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
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25996000 USD
CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
6898000 USD
us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
EquityMethodInvestmentSummarizedFinancialInformationCostOfSales
24793000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
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134563000 USD
CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
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124566000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
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198824000 USD
CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
177774000 USD
CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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-975000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Revenue
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18514000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
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21852000 USD
CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
7080000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
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26802000 USD
CY2016Q2 us-gaap Financial Services Costs
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871000 USD
us-gaap Financial Services Costs
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1730000 USD
CY2017Q2 us-gaap Financial Services Costs
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816000 USD
us-gaap Financial Services Costs
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1635000 USD
CY2016Q4 us-gaap Financial Services Liabilities
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2003000 USD
CY2017Q2 us-gaap Financial Services Liabilities
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1457000 USD
CY2016Q2 us-gaap Financial Services Revenue
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2588000 USD
us-gaap Financial Services Revenue
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5217000 USD
CY2017Q2 us-gaap Financial Services Revenue
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2722000 USD
us-gaap Financial Services Revenue
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5072000 USD
us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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CY2016Q2 us-gaap Home Building Revenue
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808462000 USD
us-gaap Home Building Revenue
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1484204000 USD
CY2017Q2 us-gaap Home Building Revenue
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1000072000 USD
us-gaap Home Building Revenue
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1816318000 USD
CY2016Q2 us-gaap Impairment Of Real Estate
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9930000 USD
us-gaap Impairment Of Real Estate
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11276000 USD
CY2016 us-gaap Impairment Of Real Estate
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49600000 USD
CY2017Q2 us-gaap Impairment Of Real Estate
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4302000 USD
us-gaap Impairment Of Real Estate
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7519000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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24797000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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40824000 USD
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51982000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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73441000 USD
us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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1075000 USD
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0 USD
us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
CY2017Q2 us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
us-gaap Income Loss From Subsidiaries Net Of Tax
IncomeLossFromSubsidiariesNetOfTax
0 USD
CY2016Q2 us-gaap Income Tax Credits And Adjustments
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-400000 USD
us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
-3700000 USD
CY2017Q2 us-gaap Income Tax Credits And Adjustments
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-100000 USD
us-gaap Income Tax Credits And Adjustments
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-1200000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
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9200000 USD
us-gaap Income Tax Expense Benefit
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12100000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
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20200000 USD
us-gaap Income Tax Expense Benefit
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27400000 USD
us-gaap Income Taxes Paid
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2635000 USD
us-gaap Income Taxes Paid
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3039000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
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-13734000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
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2905000 USD
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-29546000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Deferred Income Taxes
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-11800000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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-27100000 USD
us-gaap Increase Decrease In Inventories
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220061000 USD
us-gaap Increase Decrease In Inventories
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100520000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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1136000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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6093000 USD
CY2016Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8402000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8402000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8402000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8402000 shares
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2122000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1954000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3885000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3288000 shares
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1371000 USD
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2947000 USD
CY2017Q2 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
1408000 USD
us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2618000 USD
CY2016Q2 us-gaap Interest And Other Income
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0 USD
us-gaap Interest And Other Income
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0 USD
CY2017Q2 us-gaap Interest And Other Income
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0 USD
us-gaap Interest And Other Income
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5000 USD
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1970000 USD
us-gaap Interest Expense
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5667000 USD
CY2017Q2 us-gaap Interest Expense
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0 USD
us-gaap Interest Expense
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6307000 USD
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667000 USD
us-gaap Interest On Convertible Debt Net Of Tax
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1333000 USD
CY2017Q2 us-gaap Interest On Convertible Debt Net Of Tax
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664000 USD
us-gaap Interest On Convertible Debt Net Of Tax
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1327000 USD
us-gaap Interest Paid
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2729000 USD
us-gaap Interest Paid
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2105000 USD
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67411000 USD
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65928000 USD
CY2016Q4 us-gaap Inventory Homes Under Construction
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1245938000 USD
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1531052000 USD
CY2016Q4 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
429633000 USD
CY2017Q2 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
396393000 USD
CY2016Q4 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
63400000 USD
CY2017Q2 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
65400000 USD
CY2016Q4 us-gaap Inventory Operative Builders
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3403228000 USD
CY2017Q2 us-gaap Inventory Operative Builders
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3488204000 USD
CY2016Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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1727657000 USD
CY2017Q2 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
1560759000 USD
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134000 USD
us-gaap Investment Income Interest
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286000 USD
CY2017Q2 us-gaap Investment Income Interest
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202000 USD
us-gaap Investment Income Interest
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400000 USD
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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64016000 USD
CY2017Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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64000000 USD
CY2016Q4 us-gaap Investments In And Advances To Affiliates Amount Of Equity
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0 USD
CY2017Q2 us-gaap Investments In And Advances To Affiliates Amount Of Equity
InvestmentsInAndAdvancesToAffiliatesAmountOfEquity
0 USD
CY2016Q4 us-gaap Letters Of Credit Outstanding Amount
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31000000 USD
CY2017Q2 us-gaap Letters Of Credit Outstanding Amount
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32400000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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4958795000 USD
CY2017Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
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275000000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1050000000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
195800000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
350000000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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630000000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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302600000 USD
us-gaap Long Term Purchase Commitment Amount
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43700000 USD
us-gaap Longterm Purchase Commitment Period
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P3Y
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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CY2016Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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28724000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
31782000 USD
us-gaap Net Income Loss
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46041000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15521000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28587000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31568000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
45727000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16195000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
29932000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
32257000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
47088000 USD
us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
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32436000 USD
us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
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28160000 USD
CY2016Q4 us-gaap Notes And Loans Payable
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2640149000 USD
CY2017Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
2510121000 USD
CY2017Q2 us-gaap Number Of Reportable Segments
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5 segment
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
25938000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
44930000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
49559000 USD
us-gaap Operating Income Loss
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74836000 USD
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CY2017Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
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4873000 USD
CY2016Q4 us-gaap Other Assets
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CY2017Q2 us-gaap Other Assets
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99996000 USD
CY2016Q4 us-gaap Other Receivables
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28745000 USD
CY2017Q2 us-gaap Other Receivables
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35279000 USD
CY2016Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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10000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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21000 USD
CY2017Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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14000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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29000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
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652000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
2876000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
4100000 USD
us-gaap Payments For Repurchase Of Common Stock
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87531000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2543000 USD
us-gaap Payments Of Dividends Common Stock
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4364000 USD
us-gaap Payments Of Dividends Common Stock
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4341000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
750000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
11105000 USD
CY2017Q2 us-gaap Pledged Assets Not Separately Reported Real Estate
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61600000 USD
CY2016Q4 us-gaap Prepaid Expense Current And Noncurrent
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4894000 USD
CY2017Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
8699000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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6958000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
0 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3049000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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5827000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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0 USD
us-gaap Proceeds From Repayments Of Secured Debt
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us-gaap Proceeds From Repayments Of Secured Debt
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CY2016Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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393000 USD
CY2017Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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14240000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16831000 USD
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
288442000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
300314000 USD
CY2016Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
309045000 USD
CY2016Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
306723000 USD
CY2017Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
311111000 USD
CY2017Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
303984000 USD
CY2016Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
35557000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
66239000 USD
CY2017Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
50471000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
89855000 USD
CY2016Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
46258000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
92509000 USD
CY2017Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
43344000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
93423000 USD
us-gaap Repayments Of Senior Debt
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0 USD
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
us-gaap Selling General And Administrative Expense
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196806000 USD
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62800000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12731545 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12131394 shares
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1605442000 USD
CY2016Q2 us-gaap Revenues
Revenues
811050000 USD
us-gaap Revenues
Revenues
1489421000 USD
CY2017Q2 us-gaap Revenues
Revenues
1002794000 USD
us-gaap Revenues
Revenues
1821390000 USD
CY2015Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
173011000 USD
CY2016Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
173017000 USD
CY2016Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
156733000 USD
CY2016Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
158584000 USD
CY2017Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
159882000 USD
CY2017Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
156505000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
93810000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
181742000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
103917000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7506000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7037000 USD
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
10082581 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
19.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
344528 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.95
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.12
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
11.93
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
18.26
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
51400000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y0M0D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y11M30D
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
49085000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
50575000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
48837000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
56682000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
57710000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
60037000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
8446000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
12467000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
6457000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
12569000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
6315000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
11567000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
8784000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
15924000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
255623 shares
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
0 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3049000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1723145000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1772388000 USD
CY2016Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
14370000 USD
CY2017Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
9347000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
535402000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
537268000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2543000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
66000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
116000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
200000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
285000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
66000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
116000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
200000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
285000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
100000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
100000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94720000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97060000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97732000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96975000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84196000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86704000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85445000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85285000 shares
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 expect to adopt ASU 2014-09 under the modified retrospective method in our 2019 first quarter. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements and disclosures, 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. We are also continuing to evaluate the impact adopting this guidance may have on other aspects of our business.</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 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 November 2016, the FASB issued Accounting Standards Update No. 2016-18, &#8220;Statement of Cash Flows (Topic 230): Restricted Cash&#8221; (&#8220;ASU 2016-18&#8221;). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements.</font></div></div>
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>
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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