2016 Q3 Form 10-Q Financial Statement
#000079929216000076 Filed on October 28, 2016
Income Statement
Concept | 2016 Q3 | 2015 Q3 |
---|---|---|
Revenue | $442.5M | $363.5M |
YoY Change | 21.74% | 9.88% |
Cost Of Revenue | $363.6M | $285.4M |
YoY Change | 27.4% | 9.1% |
Gross Profit | $78.83M | $78.04M |
YoY Change | 1.01% | 13.91% |
Gross Profit Margin | 17.82% | 21.47% |
Selling, General & Admin | $56.82M | $47.92M |
YoY Change | 18.58% | 9.71% |
% of Gross Profit | 72.08% | 61.4% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $2.700M | $1.800M |
YoY Change | 50.0% | 28.57% |
% of Gross Profit | 3.43% | 2.31% |
Operating Expenses | $56.82M | $47.92M |
YoY Change | 18.58% | 9.71% |
Operating Profit | $22.01M | $30.12M |
YoY Change | -26.94% | 21.3% |
Interest Expense | $3.587M | $3.658M |
YoY Change | -1.94% | 38.09% |
% of Operating Profit | 16.3% | 12.14% |
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | $18.44M | $26.50M |
YoY Change | -30.4% | 19.34% |
Income Tax | $7.501M | $10.93M |
% Of Pretax Income | 40.67% | 41.24% |
Net Earnings | $10.94M | $15.57M |
YoY Change | -29.72% | 14.34% |
Net Earnings / Revenue | 2.47% | 4.28% |
Basic Earnings Per Share | $0.39 | $0.58 |
Diluted Earnings Per Share | $0.35 | $0.51 |
COMMON SHARES | ||
Basic Shares Outstanding | 24.67M shares | 24.61M shares |
Diluted Shares Outstanding | 30.14M shares | 30.07M shares |
Balance Sheet
Concept | 2016 Q3 | 2015 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $22.30M | $25.10M |
YoY Change | -11.16% | 45.93% |
Cash & Equivalents | $23.31M | $25.06M |
Short-Term Investments | ||
Other Short-Term Assets | ||
YoY Change | ||
Inventory | $1.225B | $1.133B |
Prepaid Expenses | ||
Receivables | $95.50M | $77.60M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $1.343B | $1.236B |
YoY Change | 8.65% | 25.09% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $21.79M | $11.84M |
YoY Change | 84.04% | 3.6% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $26.53M | $33.28M |
YoY Change | -20.29% | -18.36% |
Other Assets | $40.90M | $74.00M |
YoY Change | -44.73% | -33.81% |
Total Long-Term Assets | $154.2M | $169.9M |
YoY Change | -9.22% | -17.1% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.343B | $1.236B |
Total Long-Term Assets | $154.2M | $169.9M |
Total Assets | $1.497B | $1.406B |
YoY Change | 6.49% | 17.84% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $110.2M | $96.00M |
YoY Change | 14.79% | -1.94% |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $56.90M | |
YoY Change | ||
Total Short-Term Liabilities | $193.5M | $115.0M |
YoY Change | 68.26% | 2.59% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $565.7M | $611.2M |
YoY Change | -7.44% | 30.38% |
Other Long-Term Liabilities | $106.4M | $96.50M |
YoY Change | 10.26% | 22.15% |
Total Long-Term Liabilities | $672.1M | $707.7M |
YoY Change | -5.03% | 29.19% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $193.5M | $115.0M |
Total Long-Term Liabilities | $672.1M | $707.7M |
Total Liabilities | $865.6M | $822.7M |
YoY Change | 5.22% | 24.67% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $387.8M | $343.4M |
YoY Change | 12.94% | 14.93% |
Common Stock | $243.8M | $240.3M |
YoY Change | 1.42% | 0.83% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $48.14M | $48.54M |
YoY Change | -0.82% | -6.67% |
Treasury Stock Shares | 2.424M shares | 2.444M shares |
Shareholders Equity | $631.6M | $583.3M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.497B | $1.406B |
YoY Change | 6.49% | 17.84% |
Cashflow Statement
Concept | 2016 Q3 | 2015 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $10.94M | $15.57M |
YoY Change | -29.72% | 14.34% |
Depreciation, Depletion And Amortization | $2.700M | $1.800M |
YoY Change | 50.0% | 28.57% |
Cash From Operating Activities | -$14.40M | -$49.00M |
YoY Change | -70.61% | 22.5% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$600.0K | -$600.0K |
YoY Change | 0.0% | 0.0% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$4.300M | -$1.400M |
YoY Change | 207.14% | -17.65% |
Cash From Investing Activities | -$4.900M | -$2.000M |
YoY Change | 145.0% | -13.04% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 12.60M | 54.30M |
YoY Change | -76.8% | 109.65% |
NET CHANGE | ||
Cash From Operating Activities | -14.40M | -49.00M |
Cash From Investing Activities | -4.900M | -2.000M |
Cash From Financing Activities | 12.60M | 54.30M |
Net Change In Cash | -6.700M | 3.300M |
YoY Change | -303.03% | -120.12% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$14.40M | -$49.00M |
Capital Expenditures | -$600.0K | -$600.0K |
Free Cash Flow | -$13.80M | -$48.40M |
YoY Change | -71.49% | 22.84% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2016-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000799292 | ||
mho |
Increase Decrease In Cash Held In Escrow
IncreaseDecreaseInCashHeldInEscrow
|
-18000 | USD | |
mho |
Gain Loss On Assets And Liabilities Measured On Recurring Basis
GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis
|
116000 | USD | |
us-gaap |
Payments For Flight Equipment
PaymentsForFlightEquipment
|
9900000 | USD | |
CY2016Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
24668833 | shares |
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
M I HOMES INC | ||
CY2015Q4 | mho |
A2017 Convertible Subordianted Debt
A2017ConvertibleSubordiantedDebt
|
56518000 | USD |
CY2016Q3 | mho |
A2017 Convertible Subordianted Debt
A2017ConvertibleSubordiantedDebt
|
56949000 | USD |
CY2015Q4 | mho |
A2018 Convertible Subordinated Debt
A2018ConvertibleSubordinatedDebt
|
84714000 | USD |
CY2016Q3 | mho |
A2018 Convertible Subordinated Debt
A2018ConvertibleSubordinatedDebt
|
85246000 | USD |
CY2016Q3 | mho |
Additional Number Of Affected Homes Associated With Repair Costs
AdditionalNumberOfAffectedHomesAssociatedWithRepairCosts
|
199 | homes |
CY2016Q3 | mho |
Aggregate Capacity Of Secured Letters Of Credit Under Credit Facility
AggregateCapacityOfSecuredLettersOfCreditUnderCreditFacility
|
2000000 | USD |
mho |
Amortization Of Intangibles And Debt Discount And Debt Issue Costs
AmortizationOfIntangiblesAndDebtDiscountAndDebtIssueCosts
|
2390000 | USD | |
mho |
Amortization Of Intangibles And Debt Discount And Debt Issue Costs
AmortizationOfIntangiblesAndDebtDiscountAndDebtIssueCosts
|
2552000 | USD | |
CY2015Q4 | mho |
Amount Reserved For Legal Expenses
AmountReservedForLegalExpenses
|
600000 | USD |
CY2016Q3 | mho |
Amount Reserved For Legal Expenses
AmountReservedForLegalExpenses
|
300000 | USD |
CY2015Q4 | mho |
Best Effort Contracts And Related Mortgage Loans Held For Sale
BestEffortContractsAndRelatedMortgageLoansHeldForSale
|
100152000 | USD |
CY2016Q3 | mho |
Best Effort Contracts And Related Mortgage Loans Held For Sale
BestEffortContractsAndRelatedMortgageLoansHeldForSale
|
6927000 | USD |
CY2015Q4 | mho |
Capitalized Interest And Other Costs Included In Investment In Unconsolidated Llcs
CapitalizedInterestAndOtherCostsIncludedInInvestmentInUnconsolidatedLlcs
|
411000 | USD |
CY2016Q3 | mho |
Capitalized Interest And Other Costs Included In Investment In Unconsolidated Llcs
CapitalizedInterestAndOtherCostsIncludedInInvestmentInUnconsolidatedLlcs
|
267000 | USD |
CY2015Q4 | mho |
Community Development District
CommunityDevelopmentDistrict
|
1018000 | USD |
CY2016Q3 | mho |
Community Development District
CommunityDevelopmentDistrict
|
551000 | USD |
mho |
Community Development District Infrastructure
CommunityDevelopmentDistrictInfrastructure
|
-1412000 | USD | |
mho |
Community Development District Infrastructure
CommunityDevelopmentDistrictInfrastructure
|
-467000 | USD | |
CY2015Q4 | mho |
Community Development District Obligations
CommunityDevelopmentDistrictObligations
|
1018000 | USD |
CY2016Q3 | mho |
Community Development District Obligations
CommunityDevelopmentDistrictObligations
|
551000 | USD |
CY2015Q4 | mho |
Consolidated Inventory Not Owned
ConsolidatedInventoryNotOwned
|
6007000 | USD |
CY2016Q3 | mho |
Consolidated Inventory Not Owned
ConsolidatedInventoryNotOwned
|
5862000 | USD |
mho |
Consolidated Inventory Not Owned Obligation
ConsolidatedInventoryNotOwnedObligation
|
10810000 | USD | |
mho |
Consolidated Inventory Not Owned Obligation
ConsolidatedInventoryNotOwnedObligation
|
-145000 | USD | |
mho |
Deferral Of Executive And Director Compensation
DeferralOfExecutiveAndDirectorCompensation
|
109000 | USD | |
mho |
Distribution Of Single Family Lots From Unconsolidated Llcs
DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs
|
5460000 | USD | |
mho |
Distribution Of Single Family Lots From Unconsolidated Llcs
DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs
|
20912000 | USD | |
CY2015Q3 | mho |
Equity In Income Loss Of Subsidiaries
EquityInIncomeLossOfSubsidiaries
|
0 | USD |
mho |
Equity In Income Loss Of Subsidiaries
EquityInIncomeLossOfSubsidiaries
|
0 | USD | |
CY2016Q3 | mho |
Equity In Income Loss Of Subsidiaries
EquityInIncomeLossOfSubsidiaries
|
0 | USD |
mho |
Equity In Income Loss Of Subsidiaries
EquityInIncomeLossOfSubsidiaries
|
0 | USD | |
CY2016Q2 | mho |
Estimated Repair Costsfor Affected Homes
EstimatedRepairCostsforAffectedHomes
|
2900000 | USD |
CY2016Q3 | mho |
Estimated Repair Costsfor Affected Homes
EstimatedRepairCostsforAffectedHomes
|
15100000 | USD |
mho |
Executive And Director Deferred Compensation Distributions
ExecutiveAndDirectorDeferredCompensationDistributions
|
0 | USD | |
mho |
Fair Value Adjustment Of Mortgage Loans Held For Sale
FairValueAdjustmentOfMortgageLoansHeldForSale
|
761000 | USD | |
mho |
Fair Value Adjustment Of Mortgage Loans Held For Sale
FairValueAdjustmentOfMortgageLoansHeldForSale
|
1059000 | USD | |
CY2016Q3 | mho |
Financial Bonds
FinancialBonds
|
7300000 | USD |
CY2016Q3 | mho |
Financial Letters Of Credit
FinancialLettersOfCredit
|
7100000 | USD |
CY2015Q4 | mho |
Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale
|
27000000 | USD |
CY2016Q3 | mho |
Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale
|
87000000 | USD |
CY2015Q4 | mho |
Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments
ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments
|
46000000 | USD |
CY2016Q3 | mho |
Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments
ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments
|
92000000 | USD |
CY2015Q3 | mho |
Gain Loss On Assets And Liabilities Measured On Recurring Basis
GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis
|
-136000 | USD |
CY2016Q3 | mho |
Gain Loss On Assets And Liabilities Measured On Recurring Basis
GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis
|
-200000 | USD |
mho |
Gain Loss On Assets And Liabilities Measured On Recurring Basis
GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis
|
1233000 | USD | |
mho |
Increase Decrease In Cash Held In Escrow
IncreaseDecreaseInCashHeldInEscrow
|
-265000 | USD | |
mho |
Increase In Investment In Llcs And Other Joint Agreements
IncreaseInInvestmentInLlcsAndOtherJointAgreements
|
-10500000 | USD | |
CY2015Q3 | mho |
Incremental Common Shares Attributable To Deferred Compensation
IncrementalCommonSharesAttributableToDeferredCompensation
|
133000 | shares |
mho |
Incremental Common Shares Attributable To Deferred Compensation
IncrementalCommonSharesAttributableToDeferredCompensation
|
147000 | shares | |
CY2016Q3 | mho |
Incremental Common Shares Attributable To Deferred Compensation
IncrementalCommonSharesAttributableToDeferredCompensation
|
154000 | shares |
mho |
Incremental Common Shares Attributable To Deferred Compensation
IncrementalCommonSharesAttributableToDeferredCompensation
|
143000 | shares | |
CY2015Q3 | mho |
Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
|
244000 | shares |
mho |
Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
|
238000 | shares | |
CY2016Q3 | mho |
Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
|
231000 | shares |
mho |
Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
|
200000 | shares | |
mho |
Intercompany Financing
IntercompanyFinancing
|
0 | USD | |
mho |
Intercompany Financing
IntercompanyFinancing
|
0 | USD | |
mho |
Intercompany Investing
IntercompanyInvesting
|
0 | USD | |
mho |
Intercompany Investing
IntercompanyInvesting
|
0 | USD | |
CY2015Q4 | mho |
Intercompanyassets
Intercompanyassets
|
0 | USD |
CY2016Q3 | mho |
Intercompanyassets
Intercompanyassets
|
0 | USD |
CY2015Q4 | mho |
Intercompanyliabilities
Intercompanyliabilities
|
0 | USD |
CY2016Q3 | mho |
Intercompanyliabilities
Intercompanyliabilities
|
0 | USD |
CY2015Q4 | mho |
Inventory Model Homes And Furnishings
InventoryModelHomesAndFurnishings
|
63929000 | USD |
CY2016Q3 | mho |
Inventory Model Homes And Furnishings
InventoryModelHomesAndFurnishings
|
71290000 | USD |
CY2015Q4 | mho |
Inventory Segments
InventorySegments
|
1088332000 | USD |
CY2016Q3 | mho |
Inventory Segments
InventorySegments
|
1192159000 | USD |
CY2015Q3 | mho |
Land And Housing Costs
LandAndHousingCosts
|
285416000 | USD |
mho |
Land And Housing Costs
LandAndHousingCosts
|
744194000 | USD | |
CY2016Q3 | mho |
Land And Housing Costs
LandAndHousingCosts
|
363635000 | USD |
mho |
Land And Housing Costs
LandAndHousingCosts
|
943515000 | USD | |
CY2015Q4 | mho |
Land Purchase Deposits
LandPurchaseDeposits
|
23710000 | USD |
CY2016Q3 | mho |
Land Purchase Deposits
LandPurchaseDeposits
|
32994000 | USD |
CY2016Q3 | mho |
Letters Of Credit And Bonds
LettersOfCreditAndBonds
|
145800000 | USD |
CY2016Q3 | mho |
Letters Of Credit Outstanding Under Credit Facility
LettersOfCreditOutstandingUnderCreditFacility
|
35500000 | USD |
CY2015Q4 | mho |
Letters Of Credit Outstanding Under Letter Of Credit Facilities
LettersOfCreditOutstandingUnderLetterOfCreditFacilities
|
2700000 | USD |
CY2016Q3 | mho |
Letters Of Credit Outstanding Under Letter Of Credit Facilities
LettersOfCreditOutstandingUnderLetterOfCreditFacilities
|
900000 | USD |
CY2015Q4 | mho |
Loan Repurchase Guarantee Liability
LoanRepurchaseGuaranteeLiability
|
1200000 | USD |
CY2016Q3 | mho |
Loan Repurchase Guarantee Liability
LoanRepurchaseGuaranteeLiability
|
700000 | USD |
CY2015Q4 | mho |
Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
|
150000000 | USD |
CY2016Q3 | mho |
Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
|
165000000 | USD |
CY2016Q3 | mho |
Maximumborrowingavailabilitysubjecttolimit
Maximumborrowingavailabilitysubjecttolimit
|
279500000 | USD |
CY2015Q4 | mho |
Model Home Accumulated Depreciation
ModelHomeAccumulatedDepreciation
|
8296000 | USD |
CY2016Q3 | mho |
Model Home Accumulated Depreciation
ModelHomeAccumulatedDepreciation
|
11332000 | USD |
CY2015Q4 | mho |
Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities
|
26690000 | USD |
CY2016Q3 | mho |
Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities
|
87700000 | USD |
CY2015Q4 | mho |
Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
|
2625000 | USD |
CY2016Q3 | mho |
Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
|
3799000 | USD |
CY2015Q4 | mho |
Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
|
46339000 | USD |
CY2016Q3 | mho |
Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
|
90244000 | USD |
CY2016Q2 | mho |
Number Of Secured Letters Of Credit Outstanding Under Credit Facility
NumberOfSecuredLettersOfCreditOutstandingUnderCreditFacility
|
3 | |
CY2016Q3 | mho |
Number Of Secured Letters Of Credit Outstanding Under Credit Facility
NumberOfSecuredLettersOfCreditOutstandingUnderCreditFacility
|
1 | |
CY2015Q4 | mho |
Number Of Speculative Homes
NumberOfSpeculativeHomes
|
872 | |
CY2016Q3 | mho |
Number Of Speculative Homes
NumberOfSpeculativeHomes
|
973 | homes |
CY2016Q2 | mho |
Numberof Affected Homes
NumberofAffectedHomes
|
178 | homes |
CY2016Q3 | mho |
Numberof Affected Homes
NumberofAffectedHomes
|
265 | homes |
CY2016Q3 | mho |
Numberof Affected Homesonwhich Repairs Were Resolved
NumberofAffectedHomesonwhichRepairsWereResolved
|
-112 | homes |
CY2015Q4 | mho |
Obligation For Consolidated Inventory Not Owned
ObligationForConsolidatedInventoryNotOwned
|
6007000 | USD |
CY2016Q3 | mho |
Obligation For Consolidated Inventory Not Owned
ObligationForConsolidatedInventoryNotOwned
|
5862000 | USD |
CY2015Q4 | mho |
Other Combined Assets
OtherCombinedAssets
|
266545000 | USD |
CY2016Q3 | mho |
Other Combined Assets
OtherCombinedAssets
|
245556000 | USD |
CY2016Q3 | mho |
Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts
|
5300000 | USD |
CY2016Q3 | mho |
Outstanding Performance Bonds
OutstandingPerformanceBonds
|
102100000 | USD |
CY2016Q3 | mho |
Performance Letters Of Credit Outstanding
PerformanceLettersOfCreditOutstanding
|
29300000 | USD |
CY2015Q4 | mho |
Restricted Cash For Secured Letter Of Credit Agreements
RestrictedCashForSecuredLetterOfCreditAgreements
|
2700000 | USD |
CY2016Q3 | mho |
Restricted Cash For Secured Letter Of Credit Agreements
RestrictedCashForSecuredLetterOfCreditAgreements
|
900000 | USD |
CY2015Q4 | mho |
Restricted Payments Basket
RestrictedPaymentsBasket
|
128500000 | USD |
CY2016Q3 | mho |
Restricted Payments Basket
RestrictedPaymentsBasket
|
137700000 | USD |
CY2015Q4 | mho |
Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
|
184300000 | USD |
CY2016Q3 | mho |
Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
|
179700000 | USD |
CY2015Q4 | mho |
Total Loans Indemnified
TotalLoansIndemnified
|
2200000 | USD |
CY2016Q3 | mho |
Total Loans Indemnified
TotalLoansIndemnified
|
1600000 | USD |
CY2015Q4 | mho |
Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
|
1300000 | USD |
CY2016Q3 | mho |
Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
|
300000 | USD |
CY2015Q4 | mho |
Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
|
12200000 | USD |
CY2016Q3 | mho |
Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
|
20100000 | USD |
CY2016Q3 | mho |
Unrecorded Conditional Purchase Obligation
UnrecordedConditionalPurchaseObligation
|
589800000 | USD |
CY2015Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
86878000 | USD |
CY2016Q3 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
110179000 | USD |
CY2015Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
241239000 | USD |
CY2016Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
243481000 | USD |
us-gaap |
Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
|
1030000 | USD | |
CY2015Q4 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
23710000 | USD |
CY2016Q3 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
32994000 | USD |
us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
729000 | USD | |
us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
1262000 | USD | |
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 | |
CY2016Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
896000 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1288000 | shares | |
CY2015Q4 | us-gaap |
Assets
Assets
|
1415554000 | USD |
CY2016Q3 | us-gaap |
Assets
Assets
|
1497237000 | 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 |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10205000 | USD |
CY2016Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
22310000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
9520000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
12105000 | USD | |
CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
CY2016Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
58000000 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
58000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
27092723 | shares |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
27092723 | shares |
CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
271000 | USD |
CY2016Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
271000 | USD |
CY2015Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
336959000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
885397000 | USD | |
CY2016Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
424021000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
1109973000 | USD | |
CY2015Q4 | us-gaap |
Customer Advances And Deposits
CustomerAdvancesAndDeposits
|
19567000 | USD |
CY2016Q3 | us-gaap |
Customer Advances And Deposits
CustomerAdvancesAndDeposits
|
26439000 | USD |
CY2016Q3 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
|
536200000 | USD |
CY2015Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
67404000 | USD |
CY2016Q3 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
39944000 | USD |
us-gaap |
Depreciation
Depreciation
|
4823000 | USD | |
us-gaap |
Depreciation
Depreciation
|
6328000 | USD | |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
-3656000 | USD | |
CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.58 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.42 | ||
CY2016Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.39 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.31 | ||
CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.51 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.25 | ||
CY2016Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.35 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.17 | ||
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 | |
CY2016Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.407 | Rate |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.380 | Rate | |
CY2015Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
36967000 | USD |
CY2016Q3 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
26528000 | USD |
CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
23651000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
64690000 | USD | |
CY2016Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
29160000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
78249000 | 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 | |
CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
18443000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
58108000 | USD | |
CY2015Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
36000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
248000 | USD | |
CY2016Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
24000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
413000 | USD | |
CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
10928000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
25587000 | USD | |
CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7501000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
22061000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
1694000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
2073000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
20612000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
23301000 | USD | |
us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-5016000 | USD | |
us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-6073000 | USD | |
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
7217000 | USD | |
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
6872000 | USD | |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-23469000 | USD | |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
-20911000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
203144000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
96510000 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
8645000 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
16364000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
9336000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
18000000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-3615000 | USD | |
us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-1880000 | USD | |
CY2015Q3 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
8664000 | USD |
us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
25336000 | USD | |
CY2016Q3 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
8726000 | USD |
us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
26552000 | USD | |
CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
3658000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
11870000 | USD | |
CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
3587000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
13160000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
5705000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
8919000 | USD | |
CY2015Q4 | us-gaap |
Inventory Homes Under Construction
InventoryHomesUnderConstruction
|
420206000 | USD |
CY2016Q3 | us-gaap |
Inventory Homes Under Construction
InventoryHomesUnderConstruction
|
544350000 | USD |
CY2015Q4 | us-gaap |
Inventory Land Held For Sale
InventoryLandHeldForSale
|
12630000 | USD |
CY2016Q3 | us-gaap |
Inventory Land Held For Sale
InventoryLandHeldForSale
|
15956000 | USD |
CY2015Q4 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
1112042000 | USD |
CY2016Q3 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
1225153000 | USD |
CY2015Q4 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
584542000 | USD |
CY2016Q3 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
554150000 | USD |
CY2015Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
CY2016Q3 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
CY2015Q4 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
42500000 | USD |
CY2016Q3 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
36400000 | USD |
CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
818988000 | USD |
CY2016Q3 | us-gaap |
Liabilities
Liabilities
|
865645000 | USD |
CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1415554000 | USD |
CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1497237000 | USD |
CY2015Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
43800000 | USD |
CY2016Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
85000000 | USD |
CY2015Q4 | us-gaap |
Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
|
127001000 | USD |
CY2016Q3 | us-gaap |
Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
|
95545000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
110764000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5384000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-6048000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-19799000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-95196000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
26520000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
15570000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
38488000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10942000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
36047000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
14352000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
34832000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
9724000 | USD |
CY2016Q3 | us-gaap |
Other Liabilities
OtherLiabilities
|
99969000 | USD |
CY2015Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
8441000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
32391000 | 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 | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
10612000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
35097000 | USD | |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
30120000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
75697000 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
22006000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
70855000 | USD | |
CY2015Q4 | us-gaap |
Other Assets
OtherAssets
|
46142000 | USD |
CY2016Q3 | us-gaap |
Other Assets
OtherAssets
|
64967000 | USD |
CY2015Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
93670000 | USD |
CY2016Q3 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
8566000 | USD |
us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
537385000 | USD | |
us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
654905000 | USD | |
us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
3789000 | USD | |
us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
4350000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
420000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
193000 | 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
|
10725000 | USD | |
us-gaap |
Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
|
10060000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2003000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
11619000 | USD | |
us-gaap |
Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
|
0.0975 | ||
CY2015Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1218000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3656000 | USD | |
CY2016Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1218000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3656000 | USD | |
CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
2000 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
2000 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
2000 | shares |
CY2016Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
2000 | shares |
CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
48163000 | USD |
CY2016Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
48163000 | USD |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
329400000 | USD | |
us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
276800000 | USD | |
us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
-155000 | USD | |
us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
125000 | USD | |
us-gaap |
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
-12140000 | USD | |
us-gaap |
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
-32165000 | USD | |
us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
553390000 | USD | |
us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
687420000 | USD | |
us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
3065000 | USD | |
us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
0 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1035000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
73000 | USD | |
CY2015Q4 | us-gaap |
Product Liability Accrual Component Amount
ProductLiabilityAccrualComponentAmount
|
500000 | USD |
CY2016Q2 | us-gaap |
Product Liability Accrual Component Amount
ProductLiabilityAccrualComponentAmount
|
4900000 | USD |
CY2016Q3 | us-gaap |
Product Liability Accrual Component Amount
ProductLiabilityAccrualComponentAmount
|
14500000 | 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 |
CY2015Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
14281000 | USD |
CY2016Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
15815000 | USD |
CY2016Q3 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
27938000 | USD |
CY2015Q3 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-3328000 | USD |
us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-9620000 | USD | |
CY2016Q3 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-5658000 | USD |
us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-13591000 | USD | |
CY2015Q3 | us-gaap |
Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
|
0 | USD |
us-gaap |
Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
|
0 | USD | |
CY2016Q3 | us-gaap |
Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
|
14500000 | USD |
us-gaap |
Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
|
19409000 | USD | |
CY2015Q3 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
905000 | USD |
us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
1580000 | USD | |
CY2016Q3 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
526000 | USD |
us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
563000 | USD | |
CY2015Q3 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
2263000 | USD |
us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
5847000 | USD | |
CY2016Q3 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
2755000 | USD |
us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
7276000 | USD | |
CY2015Q3 | us-gaap |
Profit Loss
ProfitLoss
|
15570000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
38488000 | USD | |
CY2016Q3 | us-gaap |
Profit Loss
ProfitLoss
|
10942000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
36047000 | USD | |
CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
12897000 | USD |
CY2016Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
21792000 | 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 |
CY2015Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
16740000 | USD |
CY2016Q2 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
16818000 | USD |
CY2016Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
16994000 | USD |
CY2015Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
-4318000 | USD |
us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
-11637000 | USD | |
CY2016Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
-4963000 | USD |
us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
-13138000 | 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 | |
CY2016Q3 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
5139000 | USD |
us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
13392000 | USD | |
us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
-203300000 | USD | |
us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
-235600000 | USD | |
CY2015Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
2896000 | USD |
CY2016Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
998000 | USD |
CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
355427000 | USD |
CY2016Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
387818000 | USD |
CY2015Q3 | us-gaap |
Revenues
Revenues
|
363457000 | USD |
us-gaap |
Revenues
Revenues
|
949472000 | USD | |
CY2016Q3 | us-gaap |
Revenues
Revenues
|
442464000 | USD |
us-gaap |
Revenues
Revenues
|
1168081000 | USD | |
CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
363457000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
949472000 | USD | |
CY2016Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
442464000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1168081000 | USD | |
CY2015Q4 | us-gaap |
Secured Debt
SecuredDebt
|
3900000 | USD |
CY2016Q3 | us-gaap |
Secured Debt
SecuredDebt
|
3500000 | USD |
CY2015Q3 | us-gaap |
Selling Expense
SellingExpense
|
24270000 | USD |
us-gaap |
Selling Expense
SellingExpense
|
64891000 | USD | |
CY2016Q3 | us-gaap |
Selling Expense
SellingExpense
|
27663000 | USD |
us-gaap |
Selling Expense
SellingExpense
|
75462000 | USD | |
CY2015Q4 | us-gaap |
Senior Notes
SeniorNotes
|
294727000 | USD |
CY2016Q3 | us-gaap |
Senior Notes
SeniorNotes
|
295401000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3073000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3483000 | USD | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
73000 | USD | |
CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
596566000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
631592000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
596566000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
631592000 | USD |
CY2015Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2443679 | shares |
CY2016Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2423890 | shares |
CY2015Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
48534000 | USD |
CY2016Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
48141000 | USD |
CY2015Q4 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
123648000 | USD |
CY2016Q3 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
91483000 | USD |
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 | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30139000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30093000 | 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 | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24669000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24665000 | 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, 2015</font><font style="font-family:inherit;font-size:10pt;"> (the “</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</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;">2015</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, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: 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.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Subsequent to the issuance of ASU 2014-09, the FASB has issued several ASUs, such as ASU 2016-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net)</font><font style="font-family:inherit;font-size:10pt;">, ASU 2016-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing</font><font style="font-family:inherit;font-size:10pt;">, and ASU 2016-12, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients</font><font style="font-family:inherit;font-size:10pt;">. These ASUs do not change the core principle of the guidance stated in ASU 2014-09. Instead, these amendments are intended to clarify and improve the operability of certain topics addressed by ASU 2014-09. These additional ASUs will have the same effective date and transition requirements as ASU 2014-09, as amended. The Company is currently evaluating the method of adoption of ASU 2014-09 and these additional ASUs and the impact the adoption of ASU 2014-09 and these additional ASUs will have on the Company's consolidated financial statements and disclosures. See below for additional explanation of each of these additional ASUs.</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;">In January 2016, the FASB issued ASU No. 2016-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities </font><font style="font-family:inherit;font-size:10pt;">(“ASU 2016-01”), which makes a number of changes to the current GAAP model, including changes to the accounting for equity investments and financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for our interim and annual reporting periods beginning January 1, 2018. Early adoption of ASU 2016-01 is not permitted. The Company does not believe the adoption of ASU 2016-01 will have a material impact on the Company’s consolidated financial statements and disclosures.</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;">In February 2016, the FASB issued ASU No. 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-02”). ASU 2016-02 will require organizations that lease assets - referred to as “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 will be expanded to include qualitative and specific quantitative information. For public entities, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2016-02 mandates a modified retrospective transition method. The Company is currently evaluating the potential impact the adoption of ASU 2016-02 will have on the Company’s consolidated financial statements and disclosures.</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;">In March 2016, the FASB issued ASU No. 2016-06, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contingent Put and Call Options in Debt Instruments </font><font style="font-family:inherit;font-size:10pt;">(“ASU 2016-06”), which requires that embedded derivatives be separated from the host contract and accounted for separately as derivatives if certain criteria are met. One of those criteria is that the economic characteristics and risks of the embedded derivatives are not clearly and closely related to the economic characteristics and risks of the host contract (the “clearly and closely related” criterion). ASU 2016-06 clarifies the required steps for assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. ASU 2016-06 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted for all entities. The Company does not believe the adoption of ASU 2016-06 will have a material impact on the Company’s consolidated financial statements and disclosures.</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;">In March 2016, the FASB issued ASU No. 2016-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net)</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-08”). The amendments in this ASU are intended to improve the operability and understandability of the implementation guidance stated in ASU 2014-09 on principal versus agent considerations and whether an entity reports revenue on a gross or net basis. </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;">In March 2016, the FASB issued ASU No. 2016-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-09”). 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. For public entities, ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company does not believe the adoption of ASU 2016-09 will have a material impact on the Company’s consolidated financial statements and disclosures.</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;">In April 2016, the FASB issued ASU No. 2016-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-10”).  ASU 2016-10 provides guidance on identifying performance obligations and licensing. This update clarifies the guidance in ASU 2014-09 relating to identifying performance obligations and licensing. The new standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. </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%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2016, the FASB issued ASU No. 2016-12, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers: Narrow Scope Improvements and Practical Expedients</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-12”). ASU 2016-12 provides for amendments to ASU 2014-09 regarding transition, collectability, noncash consideration, and presentation of sales tax and other similar taxes.  Specifically, ASU 2016-12 clarifies that, for a contract to be considered completed at transition, all or substantially all of the revenue must have been recognized under legacy GAAP. In addition, ASU 2016-12 clarifies how an entity should evaluate the collectability threshold and when an entity can recognize nonrefundable consideration received as revenue if an arrangement does not meet the standard’s contract criteria. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued ASU 2016-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-15”). 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. For public entities, ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2016-15 will modify the Company's current disclosures and reclassifications within the condensed consolidated statement of cash flows but is not expected to have a material effect on the Company’s consolidated financial statements and disclosures.</font></div></div> |