2015 Q3 Form 10-Q Financial Statement
#000079929215000037 Filed on October 23, 2015
Income Statement
| Concept | 2015 Q3 | 2014 Q3 |
|---|---|---|
| Revenue | $363.5M | $330.8M |
| YoY Change | 9.88% | 20.19% |
| Cost Of Revenue | $285.4M | $261.6M |
| YoY Change | 9.1% | 19.89% |
| Gross Profit | $78.04M | $68.51M |
| YoY Change | 13.91% | 24.77% |
| Gross Profit Margin | 21.47% | 20.71% |
| Selling, General & Admin | $47.92M | $43.68M |
| YoY Change | 9.71% | 20.46% |
| % of Gross Profit | 61.4% | 63.76% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $1.800M | $1.400M |
| YoY Change | 28.57% | 16.67% |
| % of Gross Profit | 2.31% | 2.04% |
| Operating Expenses | $47.92M | $43.68M |
| YoY Change | 9.71% | 20.46% |
| Operating Profit | $30.12M | $24.83M |
| YoY Change | 21.3% | 33.14% |
| Interest Expense | $3.658M | $2.649M |
| YoY Change | 38.09% | -23.2% |
| % of Operating Profit | 12.14% | 10.67% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $26.50M | $22.20M |
| YoY Change | 19.34% | 61.45% |
| Income Tax | $10.93M | $8.586M |
| % Of Pretax Income | 41.24% | 38.67% |
| Net Earnings | $15.57M | $13.62M |
| YoY Change | 14.34% | -89.13% |
| Net Earnings / Revenue | 4.28% | 4.12% |
| Basic Earnings Per Share | $0.58 | $0.51 |
| Diluted Earnings Per Share | $0.51 | $0.44 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 24.61M shares | 24.47M shares |
| Diluted Shares Outstanding | 30.07M shares | 29.92M shares |
Balance Sheet
| Concept | 2015 Q3 | 2014 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $25.10M | $17.20M |
| YoY Change | 45.93% | -87.93% |
| Cash & Equivalents | $25.06M | $17.17M |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | $1.133B | $894.0M |
| Prepaid Expenses | ||
| Receivables | $77.60M | $77.00M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $1.236B | $988.2M |
| YoY Change | 25.09% | 12.4% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $11.84M | $11.43M |
| YoY Change | 3.6% | 10.48% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $33.28M | $40.77M |
| YoY Change | -18.36% | 19.6% |
| Other Assets | $74.00M | $111.8M |
| YoY Change | -33.81% | -13.0% |
| Total Long-Term Assets | $169.9M | $205.0M |
| YoY Change | -17.1% | 0.53% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.236B | $988.2M |
| Total Long-Term Assets | $169.9M | $205.0M |
| Total Assets | $1.406B | $1.193B |
| YoY Change | 17.84% | 10.16% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $96.00M | $97.90M |
| YoY Change | -1.94% | 14.1% |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $115.0M | $112.1M |
| YoY Change | 2.59% | 11.32% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $611.2M | $468.8M |
| YoY Change | 30.38% | 7.65% |
| Other Long-Term Liabilities | $96.50M | $79.00M |
| YoY Change | 22.15% | 17.38% |
| Total Long-Term Liabilities | $707.7M | $547.8M |
| YoY Change | 29.19% | 8.95% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $115.0M | $112.1M |
| Total Long-Term Liabilities | $707.7M | $547.8M |
| Total Liabilities | $822.7M | $659.9M |
| YoY Change | 24.67% | 9.34% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $343.4M | $298.8M |
| YoY Change | 14.93% | 19.71% |
| Common Stock | $240.3M | $238.4M |
| YoY Change | 0.83% | 0.94% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $48.54M | $52.01M |
| YoY Change | -6.67% | -4.25% |
| Treasury Stock Shares | 2.444M shares | 2.619M shares |
| Shareholders Equity | $583.3M | $533.3M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.406B | $1.193B |
| YoY Change | 17.84% | 10.16% |
Cashflow Statement
| Concept | 2015 Q3 | 2014 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $15.57M | $13.62M |
| YoY Change | 14.34% | -89.13% |
| Depreciation, Depletion And Amortization | $1.800M | $1.400M |
| YoY Change | 28.57% | 16.67% |
| Cash From Operating Activities | -$49.00M | -$40.00M |
| YoY Change | 22.5% | 163.16% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$600.0K | -$600.0K |
| YoY Change | 0.0% | 0.0% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$1.400M | -$1.700M |
| YoY Change | -17.65% | -81.11% |
| Cash From Investing Activities | -$2.000M | -$2.300M |
| YoY Change | -13.04% | -76.29% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 54.30M | 25.90M |
| YoY Change | 109.65% | 2058.33% |
| NET CHANGE | ||
| Cash From Operating Activities | -49.00M | -40.00M |
| Cash From Investing Activities | -2.000M | -2.300M |
| Cash From Financing Activities | 54.30M | 25.90M |
| Net Change In Cash | 3.300M | -16.40M |
| YoY Change | -120.12% | -30.8% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$49.00M | -$40.00M |
| Capital Expenditures | -$600.0K | -$600.0K |
| Free Cash Flow | -$48.40M | -$39.40M |
| YoY Change | 22.84% | 169.86% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
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Q3 | ||
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2015 | ||
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Document Period End Date
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2015-09-30 | ||
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10-Q | ||
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Consolidated Inventory Not Owned Obligation
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Deferral Of Executive And Director Compensation
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Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
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Long Lived Real Estate Assets Fair Value Disclosure
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Long Lived Real Estate Assets Fair Value Disclosure
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| CY2014Q4 | mho |
Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
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| CY2015Q3 | mho |
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| CY2015Q3 | mho |
Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
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|
5554000 | USD |
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|
28028000 | USD |
| CY2015Q3 | mho |
Notional Amount Of Uncommitted Interest Rate Lock Commitments
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|
79604000 | USD |
| CY2015Q3 | mho |
Number Of Secured Letters Of Credit Outstanding Under Credit Facility
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|
3 | |
| CY2014Q4 | mho |
Number Of Speculative Homes
NumberOfSpeculativeHomes
|
979 | |
| CY2015Q3 | mho |
Number Of Speculative Homes
NumberOfSpeculativeHomes
|
962 | homes |
| CY2014Q4 | mho |
Obligation For Consolidated Inventory Not Owned
ObligationForConsolidatedInventoryNotOwned
|
608000 | USD |
| CY2015Q3 | mho |
Obligation For Consolidated Inventory Not Owned
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|
11418000 | USD |
| CY2014Q4 | mho |
Other Combined Assets
OtherCombinedAssets
|
265052000 | USD |
| CY2015Q3 | mho |
Other Combined Assets
OtherCombinedAssets
|
239306000 | USD |
| CY2015Q3 | mho |
Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts
|
6500000 | USD |
| CY2015Q3 | mho |
Outstanding Performance Bonds
OutstandingPerformanceBonds
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101200000 | USD |
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Performance Letters Of Credit Outstanding
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Real Estate Related Impairments
RealEstateRelatedImpairments
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622000 | USD |
| mho |
Real Estate Related Impairments
RealEstateRelatedImpairments
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| CY2015Q3 | mho |
Real Estate Related Impairments
RealEstateRelatedImpairments
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| mho |
Real Estate Related Impairments
RealEstateRelatedImpairments
|
0 | USD | |
| CY2014Q4 | mho |
Restricted Cash For Secured Letter Of Credit Agreements
RestrictedCashForSecuredLetterOfCreditAgreements
|
6600000 | USD |
| CY2015Q3 | mho |
Restricted Cash For Secured Letter Of Credit Agreements
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3000000 | USD |
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Restricted Payments Basket
RestrictedPaymentsBasket
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148600000 | USD |
| CY2015Q3 | mho |
Restricted Payments Basket
RestrictedPaymentsBasket
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159600000 | USD |
| CY2014Q4 | mho |
Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
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186700000 | USD |
| CY2015Q3 | mho |
Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
|
183800000 | USD |
| CY2014Q4 | mho |
Total Loans Indemnified
TotalLoansIndemnified
|
2000000 | USD |
| CY2015Q3 | mho |
Total Loans Indemnified
TotalLoansIndemnified
|
2200000 | USD |
| CY2014Q4 | mho |
Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
|
9100000 | USD |
| CY2015Q3 | mho |
Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
|
7200000 | USD |
| CY2014Q4 | mho |
Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
|
33400000 | USD |
| CY2015Q3 | mho |
Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
|
18900000 | USD |
| CY2015Q3 | mho |
Uncommitted Lettersof Credit
UncommittedLettersofCredit
|
4800000 | USD |
| CY2015Q3 | mho |
Unrecorded Conditional Purchase Obligation
UnrecordedConditionalPurchaseObligation
|
495200000 | USD |
| CY2014Q3 | mho |
Valuation Adjustments To Future Communities
ValuationAdjustmentsToFutureCommunities
|
600000 | USD |
| mho |
Valuation Adjustments To Future Communities
ValuationAdjustmentsToFutureCommunities
|
600000 | USD | |
| mho |
Valuation Adjustments To Operating Communities
ValuationAdjustmentsToOperatingCommunities
|
800000 | USD | |
| CY2014Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
75338000 | USD |
| CY2015Q3 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
95950000 | USD |
| CY2014Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
238560000 | USD |
| CY2015Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
240071000 | USD |
| CY2014Q4 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
23495000 | USD |
| CY2015Q3 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
21994000 | USD |
| us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
548000 | USD | |
| us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
729000 | USD | |
| CY2014Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1286000 | shares |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1243000 | shares | |
| CY2015Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1460000 | shares |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1443000 | shares | |
| us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
1426000 | USD | |
| us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | USD | |
| CY2014Q4 | us-gaap |
Assets
Assets
|
1211410000 | USD |
| CY2015Q3 | us-gaap |
Assets
Assets
|
1406002000 | USD |
| CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
128725000 | USD |
| CY2014Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
17168000 | USD |
| CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
15535000 | USD |
| CY2015Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
25055000 | USD |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-111557000 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
9520000 | USD | |
| CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
| CY2015Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
| CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
58000000 | shares |
| CY2015Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
58000000 | shares |
| CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
27092723 | shares |
| CY2015Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
27092723 | shares |
| CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
271000 | USD |
| CY2015Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
271000 | USD |
| CY2014Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
308564000 | USD |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
797225000 | USD | |
| CY2015Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
336959000 | USD |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
885397000 | USD | |
| CY2014Q4 | us-gaap |
Customer Advances And Deposits
CustomerAdvancesAndDeposits
|
11759000 | USD |
| CY2015Q3 | us-gaap |
Customer Advances And Deposits
CustomerAdvancesAndDeposits
|
18976000 | USD |
| CY2015 | us-gaap |
Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
|
1.04313 | |
| CY2016 | us-gaap |
Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
|
1.02156 | |
| us-gaap |
Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
|
1.00000 | ||
| CY2015Q3 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
|
523400000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
94412000 | USD |
| CY2015Q3 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
70943000 | USD |
| us-gaap |
Depreciation
Depreciation
|
3733000 | USD | |
| us-gaap |
Depreciation
Depreciation
|
4823000 | USD | |
| us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
-3656000 | USD | |
| CY2014Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.51 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.48 | ||
| CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.58 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.42 | ||
| CY2014Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.44 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.30 | ||
| CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.51 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.25 | ||
| CY2014Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.387 | Rate |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.204 | Rate | |
| CY2015Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.412 | Rate |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.399 | Rate | |
| CY2014Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
27769000 | USD |
| CY2015Q3 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
33282000 | USD |
| CY2014Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
21724000 | USD |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
61320000 | USD | |
| CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
23651000 | USD |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
64690000 | USD | |
| CY2014Q3 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
622000 | USD |
| us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
1426000 | USD | |
| CY2015Q3 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
0 | USD |
| us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
0 | USD | |
| CY2014Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
22203000 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
49991000 | USD | |
| CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
26498000 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
64075000 | USD | |
| CY2014Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
22000 | USD |
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
62000 | USD | |
| CY2015Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
36000 | USD |
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
248000 | USD | |
| CY2014Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
8586000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
10188000 | USD | |
| CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
14352000 | USD |
| CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
10928000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
25587000 | USD | |
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
551000 | USD | |
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
1694000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
27647000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
20612000 | USD | |
| us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-3247000 | USD | |
| us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-5016000 | USD | |
| us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
2940000 | USD | |
| us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
7217000 | USD | |
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-17320000 | USD | |
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-23469000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
196139000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
203144000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
4582000 | USD | |
| us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-4912000 | USD | |
| us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-3615000 | USD | |
| CY2014Q3 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
7810000 | USD |
| us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
22690000 | USD | |
| CY2015Q3 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
8664000 | USD |
| us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
25336000 | USD | |
| CY2014Q3 | us-gaap |
Interest Expense
InterestExpense
|
2649000 | USD |
| us-gaap |
Interest Expense
InterestExpense
|
9549000 | USD | |
| CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
3658000 | USD |
| us-gaap |
Interest Expense
InterestExpense
|
11870000 | USD | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
3074000 | USD | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
5705000 | USD | |
| CY2014Q4 | us-gaap |
Inventory Homes Under Construction
InventoryHomesUnderConstruction
|
371119000 | USD |
| CY2015Q3 | us-gaap |
Inventory Homes Under Construction
InventoryHomesUnderConstruction
|
488041000 | USD |
| CY2014Q4 | us-gaap |
Inventory Land Held For Sale
InventoryLandHeldForSale
|
10647000 | USD |
| CY2015Q3 | us-gaap |
Inventory Land Held For Sale
InventoryLandHeldForSale
|
5803000 | USD |
| CY2014Q4 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
918589000 | USD |
| CY2015Q3 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
1133414000 | USD |
| CY2014Q4 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
463198000 | USD |
| CY2015Q3 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
539517000 | USD |
| CY2014Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
| CY2015Q3 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
| CY2014Q4 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
33600000 | USD |
| CY2015Q3 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
37700000 | USD |
| CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
667115000 | USD |
| CY2015Q3 | us-gaap |
Liabilities
Liabilities
|
822664000 | USD |
| CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1211410000 | USD |
| CY2015Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1406002000 | USD |
| CY2015Q3 | us-gaap |
Limited Partners Contributed Capital
LimitedPartnersContributedCapital
|
33282000 | USD |
| CY2014Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
30000000 | USD |
| CY2015Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
156100000 | USD |
| CY2014Q4 | us-gaap |
Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
|
92794000 | USD |
| CY2015Q3 | us-gaap |
Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
|
77550000 | USD |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6653000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
110764000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-11499000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-6048000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-106711000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-95196000 | USD | |
| CY2014Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
13617000 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
39803000 | USD | |
| CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
15570000 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
38488000 | USD | |
| CY2014Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
12399000 | USD |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
36147000 | USD | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
34832000 | USD | |
| CY2014Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
13263000 | USD |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
38754000 | USD | |
| CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
15226000 | USD |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
37456000 | USD | |
| CY2015Q3 | us-gaap |
Notes Receivable Related Parties
NotesReceivableRelatedParties
|
2500000 | USD |
| CY2014Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
24830000 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
59478000 | USD | |
| CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
30120000 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
75697000 | USD | |
| CY2014Q4 | us-gaap |
Other Assets
OtherAssets
|
43870000 | USD |
| CY2015Q3 | us-gaap |
Other Assets
OtherAssets
|
50846000 | USD |
| CY2014Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
79723000 | USD |
| CY2015Q3 | us-gaap |
Other Liabilities
OtherLiabilities
|
83940000 | USD |
| CY2014Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
9518000 | USD |
| CY2015Q3 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
9363000 | USD |
| us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
470345000 | USD | |
| us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
537385000 | USD | |
| us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
3046000 | USD | |
| us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
3789000 | USD | |
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
40000 | USD | |
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
420000 | USD | |
| us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
3656000 | USD | |
| us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
3656000 | USD | |
| us-gaap |
Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
|
16818000 | USD | |
| us-gaap |
Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
|
10725000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2347000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2003000 | USD | |
| us-gaap |
Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
|
0.0975 | ||
| CY2014Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1218000 | USD |
| us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3656000 | USD | |
| CY2015Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1218000 | USD |
| us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3656000 | USD | |
| CY2014Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
| CY2015Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
| CY2014Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
2000 | shares |
| CY2015Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
2000 | shares |
| CY2014Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
2000 | shares |
| CY2015Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
2000 | shares |
| CY2014Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
48163000 | USD |
| CY2015Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
48163000 | USD |
| us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
0 | USD | |
| us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
329400000 | USD | |
| us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
740000 | USD | |
| us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
-155000 | USD | |
| us-gaap |
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
-12140000 | USD | |
| us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
477728000 | USD | |
| us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
553390000 | USD | |
| us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
2135000 | USD | |
| us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
3065000 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1460000 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1035000 | USD | |
| CY2013Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
12291000 | USD |
| CY2014Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
11220000 | USD |
| CY2014Q3 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
10682000 | USD |
| CY2014Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
12671000 | USD |
| CY2015Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
10638000 | USD |
| CY2015Q3 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
10478000 | USD |
| CY2014Q3 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-3508000 | USD |
| us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-8508000 | USD | |
| CY2015Q3 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-3328000 | USD |
| us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-9620000 | USD | |
| CY2014Q3 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
1047000 | USD |
| us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
1937000 | USD | |
| CY2015Q3 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
905000 | USD |
| us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
1580000 | USD | |
| CY2014Q3 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
1923000 | USD |
| us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
4962000 | USD | |
| CY2015Q3 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
2263000 | USD |
| us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
5847000 | USD | |
| CY2014Q3 | us-gaap |
Profit Loss
ProfitLoss
|
13617000 | USD |
| us-gaap |
Profit Loss
ProfitLoss
|
39803000 | USD | |
| CY2015Q3 | us-gaap |
Profit Loss
ProfitLoss
|
15570000 | USD |
| us-gaap |
Profit Loss
ProfitLoss
|
38488000 | USD | |
| CY2014Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11490000 | USD |
| CY2015Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11841000 | USD |
| CY2013Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
13802000 | USD |
| CY2014Q2 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
14831000 | USD |
| CY2014Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
15711000 | USD |
| CY2014Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
15296000 | USD |
| CY2015Q2 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
16437000 | USD |
| CY2015Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
17125000 | USD |
| CY2014Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-4281000 | USD |
| us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-11232000 | USD | |
| CY2015Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-4318000 | USD |
| us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-11637000 | USD | |
| CY2014Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
5161000 | USD |
| us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
13141000 | USD | |
| CY2015Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
5006000 | USD |
| us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
13466000 | USD | |
| us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
-203300000 | USD | |
| CY2014Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
6951000 | USD |
| CY2015Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
3071000 | USD |
| CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
308539000 | USD |
| CY2015Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
343371000 | USD |
| CY2014Q3 | us-gaap |
Revenues
Revenues
|
330767000 | USD |
| us-gaap |
Revenues
Revenues
|
847216000 | USD | |
| CY2015Q3 | us-gaap |
Revenues
Revenues
|
363457000 | USD |
| us-gaap |
Revenues
Revenues
|
949472000 | USD | |
| CY2014Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
330767000 | USD |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
847216000 | USD | |
| CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
363457000 | USD |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
949472000 | USD | |
| CY2014Q4 | us-gaap |
Secured Debt
SecuredDebt
|
4300000 | USD |
| CY2015Q3 | us-gaap |
Secured Debt
SecuredDebt
|
4000000 | USD |
| CY2014Q3 | us-gaap |
Selling Expense
SellingExpense
|
21955000 | USD |
| us-gaap |
Selling Expense
SellingExpense
|
58175000 | USD | |
| CY2015Q3 | us-gaap |
Selling Expense
SellingExpense
|
24270000 | USD |
| us-gaap |
Selling Expense
SellingExpense
|
64891000 | USD | |
| CY2014Q4 | us-gaap |
Senior Notes
SeniorNotes
|
228469000 | USD |
| CY2015Q3 | us-gaap |
Senior Notes
SeniorNotes
|
228769000 | USD |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2504000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3073000 | USD | |
| us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1035000 | USD | |
| CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
544295000 | USD |
| CY2015Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
583338000 | USD |
| CY2014Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
544295000 | USD |
| CY2015Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
583338000 | USD |
| CY2014Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2579813 | shares |
| CY2015Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2443859 | shares |
| CY2014Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
51238000 | USD |
| CY2015Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
48538000 | USD |
| us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
9291000 | USD | |
| us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
0 | USD | |
| CY2014Q4 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
85379000 | USD |
| CY2015Q3 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
73239000 | USD |
| CY2014Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29921000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29900000 | shares | |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30067000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30021000 | shares | |
| CY2014Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24474000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24454000 | shares | |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24605000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24551000 | shares | |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying Unaudited Condensed Consolidated Financial Statements (the “financial statements”) of M/I Homes, Inc. and its subsidiaries (the “Company”) and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. The financial statements include the accounts of the Company. All intercompany transactions have been eliminated. Results for the interim period are not necessarily indicative of results for a full year. In the opinion of management, the accompanying financial statements reflect all adjustments (all of which are normal and recurring in nature) necessary for a fair presentation of financial results for the interim periods presented. These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> (the “</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K”).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows. With regard to the Company, estimates and assumptions are inherent in calculations relating to valuation of inventory and investment in unconsolidated joint ventures, property and equipment depreciation, valuation of derivative financial instruments, accounts payable on inventory, accruals for costs to complete inventory, accruals for warranty claims, accruals for self-insured general liability claims, litigation, accruals for health care and workers’ compensation, accruals for guaranteed or indemnified loans, stock-based compensation expense, income taxes, and contingencies. Items that could have a significant impact on these estimates and assumptions include the risks and uncertainties listed in “Item 1A. Risk Factors” in Part I of our </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K, as the same may be updated from time to time in our subsequent filings with the SEC. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Impact of New Accounting Standards</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers </font><font style="font-family:inherit;font-size:10pt;">(“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August 2015, the FASB issued ASU No. 2015-14, R</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">evenue from Contracts with Customers (Topic 606): Deferral of the Effective Date</font><font style="font-family:inherit;font-size:10pt;">, which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period . Early adoption is permitted as of the original effective date for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company’s consolidated financial statements and disclosures. </font></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued ASU No. 2015-03, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Presentation of Debt Issuance Costs</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs would not be affected by the amendments in ASU 2015-03. ASU 2015-03 will be effective for the Company beginning January 1, 2016, with early adoption permitted. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. The Company is currently evaluating the impact the adoption of ASU 2015-03 may have on our consolidated financial statements or disclosures and expects adoption to impact our consolidated balance sheet but not our results of operations.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2015, the FASB issued ASU No. 2015-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-15”), which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company believes the adoption of ASU 2015-15 will not have a material effect on its consolidated financial statements and disclosures.</font></div></div> |
