$mho 2019 Q4 10-K

Concept	2019 Q4	2018
Revenue	$742.2M	$2.286B
YoY Change	2.72%	16.53%
Cost Of Revenue	$594.4M	$1.837B
YoY Change	1.33%	17.66%
Gross Profit	$142.8M	$449.6M
YoY Change	9.79%	12.13%
Gross Profit Margin	19.24%	19.66%
Selling, General & Admin	$86.90M	$280.6M
YoY Change	8.08%	10.21%
% of Gross Profit	60.86%	62.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$3.400M	$14.53M
YoY Change	9.68%	2.52%
% of Gross Profit	2.38%	3.23%
Operating Expenses	$86.90M	$280.6M
YoY Change	8.08%	10.21%
Operating Profit	$55.88M	$163.2M
YoY Change	12.56%	17.67%
Interest Expense	-$4.600M	$20.48M
YoY Change	-11.54%	8.53%
% of Operating Profit	-8.23%	12.55%
Other Income/Expense, Net
YoY Change
Pretax Income	$51.30M	$141.3M
YoY Change	15.54%	17.42%
Income Tax	$9.500M	$33.63M
% Of Pretax Income	18.52%	23.8%
Net Earnings	$41.80M	$107.7M
YoY Change	29.01%	49.36%
Net Earnings / Revenue	5.63%	4.71%
Basic Earnings Per Share	$1.48	$3.81
Diluted Earnings Per Share	$1.44	$3.70
COMMON SHARES
Basic Shares Outstanding	28.30M shares	28.23M shares
Diluted Shares Outstanding	29.05M shares	29.18M shares

Concept	2019 Q4	2018
SHORT-TERM ASSETS
Cash & Short-Term Investments	$6.100M	$21.50M
YoY Change	-71.63%	-85.83%
Cash & Equivalents	$6.083M	$21.50M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory	$1.770B	$1.675B
Prepaid Expenses
Receivables	$155.2M	$169.7M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$1.931B	$1.866B
YoY Change	3.49%	7.35%
LONG-TERM ASSETS
Property, Plant & Equipment	$22.12M	$29.40M
YoY Change	-24.76%	9.7%
Goodwill	$16.40M
YoY Change	0.0%
Intangibles
YoY Change
Long-Term Investments	$37.89M	$35.90M
YoY Change	5.62%	75.12%
Other Assets	$9.600M	$13.50M
YoY Change	-28.89%	-26.63%
Total Long-Term Assets	$174.8M	$155.9M
YoY Change	12.13%	22.85%
TOTAL ASSETS
Total Short-Term Assets	$1.931B	$1.866B
Total Long-Term Assets	$174.8M	$155.9M
Total Assets	$2.106B	$2.022B
YoY Change	4.16%	8.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$125.0M	$131.5M
YoY Change	-4.94%	12.2%
Accrued Expenses	$18.40M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due		$0.00
YoY Change
Total Short-Term Liabilities	$177.9M	$163.6M
YoY Change	8.74%	13.93%
LONG-TERM LIABILITIES
Long-Term Debt	$754.8M	$821.0M
YoY Change	-8.06%	1.65%
Other Long-Term Liabilities	$169.4M	$181.8M
YoY Change	-6.82%	9.45%
Total Long-Term Liabilities	$924.2M	$1.003B
YoY Change	-7.84%	2.98%
TOTAL LIABILITIES
Total Short-Term Liabilities	$177.9M	$163.6M
Total Long-Term Liabilities	$924.2M	$1.003B
Total Liabilities	$1.102B	$1.166B
YoY Change	-5.5%	4.37%
SHAREHOLDERS EQUITY
Retained Earnings	$708.6M
YoY Change	21.96%
Common Stock	$333.2M
YoY Change	0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$38.26M
YoY Change	-32.28%
Treasury Stock Shares	1.751M shares
Shareholders Equity	$1.003B	$855.3M
YoY Change
Total Liabilities & Shareholders Equity	$2.106B	$2.022B
YoY Change	4.16%	8.41%

Concept	2019 Q4	2018
OPERATING ACTIVITIES
Net Income	$41.80M	$107.7M
YoY Change	29.01%	49.36%
Depreciation, Depletion And Amortization	$3.400M	$14.53M
YoY Change	9.68%	2.52%
Cash From Operating Activities	$64.60M	-$2.592M
YoY Change	-9.4%	-95.13%
INVESTING ACTIVITIES
Capital Expenditures	-$1.900M	$8.141M
YoY Change	-13.64%	-7.48%
Acquisitions
YoY Change
Other Investing Activities	$0.00	-$125.8M
YoY Change	-100.0%	12480.0%
Cash From Investing Activities	-$1.900M	-$134.0M
YoY Change	-84.8%	1362.89%
FINANCING ACTIVITIES
Cash Dividend Paid		$0.00
YoY Change		-100.0%
Common Stock Issuance & Retirement, Net		$5.400M
YoY Change		-109.39%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-90.20M	$6.375M
YoY Change	22.39%	-96.45%
NET CHANGE
Cash From Operating Activities	64.60M	-$2.592M
Cash From Investing Activities	-1.900M	-$134.0M
Cash From Financing Activities	-90.20M	$6.375M
Net Change In Cash	-27.50M	-$130.2M
YoY Change	84.56%	-211.01%
FREE CASH FLOW
Cash From Operating Activities	$64.60M	-$2.592M
Capital Expenditures	-$1.900M	$8.141M
Free Cash Flow	$66.50M	-$10.73M
YoY Change	-9.52%	-82.68%

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2020	dei	Entity Central Index Key EntityCentralIndexKey	0000799292
CY2020	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2020	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2020
CY2020	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2020	dei	Amendment Flag AmendmentFlag	false
CY2020Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
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CY2020Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	58000000	shares
CY2019Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	58000000	shares
CY2020Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	30137141	shares
CY2019Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	30137141	shares
CY2020	mho	Homebuildingoperationspercentoftotalrevenue Homebuildingoperationspercentoftotalrevenue	0.97	Rate
CY2019	mho	Homebuildingoperationspercentoftotalrevenue Homebuildingoperationspercentoftotalrevenue	0.98	Rate
CY2018	mho	Homebuildingoperationspercentoftotalrevenue Homebuildingoperationspercentoftotalrevenue	0.98	Rate
CY2020Q4	mho	Value Of Stock Units Awarded Under2009 Ltip Plan ValueOfStockUnitsAwardedUnder2009LtipPlan	652000	USD
CY2019Q4	mho	Value Of Stock Units Awarded Under2009 Ltip Plan ValueOfStockUnitsAwardedUnder2009LtipPlan	680000	USD
CY2018Q4	mho	Value Of Stock Units Awarded Under2009 Ltip Plan ValueOfStockUnitsAwardedUnder2009LtipPlan	651000	USD
CY2020	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	400000	USD
CY2019	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	200000	USD
CY2018	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	200000	USD
CY2020Q4	mho	Stock Units Awarded Under2009 Ltip Plan StockUnitsAwardedUnder2009LtipPlan	24000	shares
CY2019Q4	mho	Stock Units Awarded Under2009 Ltip Plan StockUnitsAwardedUnder2009LtipPlan	24000	shares
CY2018Q4	mho	Stock Units Awarded Under2009 Ltip Plan StockUnitsAwardedUnder2009LtipPlan	21000	shares
CY2020Q4	us-gaap	Deferred Compensation Liability Current And Noncurrent DeferredCompensationLiabilityCurrentAndNoncurrent	200000	USD
CY2019Q4	us-gaap	Deferred Compensation Liability Current And Noncurrent DeferredCompensationLiabilityCurrentAndNoncurrent	200000	USD
CY2018Q4	us-gaap	Deferred Compensation Liability Current And Noncurrent DeferredCompensationLiabilityCurrentAndNoncurrent	200000	USD
CY2020Q4	mho	Split Dollar Life Insurance Policies SplitDollarLifeInsurancePolicies	200000	USD
CY2019Q4	mho	Split Dollar Life Insurance Policies SplitDollarLifeInsurancePolicies	203000	USD
CY2020	mho	Equityin Incomelossfromunconsolidatedjointventures EquityinIncomelossfromunconsolidatedjointventures	500000	USD
CY2019	mho	Equityin Incomelossfromunconsolidatedjointventures EquityinIncomelossfromunconsolidatedjointventures	300000	USD
CY2018	mho	Equityin Incomelossfromunconsolidatedjointventures EquityinIncomelossfromunconsolidatedjointventures	300000	USD
CY2020Q4	mho	Total Of Guaranteed Loans Inquired About TotalOfGuaranteedLoansInquiredAbout	600000	USD
CY2019Q4	mho	Total Of Guaranteed Loans Inquired About TotalOfGuaranteedLoansInquiredAbout	600000	USD
CY2020Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	USD
CY2019Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	USD
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CY2020	dei	Document Type DocumentType	10-K
CY2020	dei	Document Annual Report DocumentAnnualReport	true
CY2020	dei	Document Period End Date DocumentPeriodEndDate	2020-12-31
CY2020	dei	Document Transition Report DocumentTransitionReport	false
CY2020	dei	Entity File Number EntityFileNumber	1-12434
CY2020	dei	Entity Registrant Name EntityRegistrantName	M/I HOMES, INC.
CY2020	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	OH
CY2020	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	31-1210837
CY2020	dei	Entity Address Address Line1 EntityAddressAddressLine1	4131 Worth Avenue
CY2020	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 500
CY2020	dei	Entity Address City Or Town EntityAddressCityOrTown	Columbus
CY2020	dei	Entity Address State Or Province EntityAddressStateOrProvince	OH
CY2020	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	43219
CY2020	dei	City Area Code CityAreaCode	614
CY2020	dei	Local Phone Number LocalPhoneNumber	418-8000
CY2020	dei	Security12b Title Security12bTitle	Common Shares, par value $.01
CY2020	dei	Trading Symbol TradingSymbol	MHO
CY2020	dei	Security Exchange Name SecurityExchangeName	NYSE
CY2020	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2020	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2020	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2020	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2020	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2020	dei	Entity Small Business EntitySmallBusiness	false
CY2020	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2020	dei	Entity Shell Company EntityShellCompany	false
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CY2020	us-gaap	Business Combination Acquisition Related Costs BusinessCombinationAcquisitionRelatedCosts	0	USD
CY2019	us-gaap	Business Combination Acquisition Related Costs BusinessCombinationAcquisitionRelatedCosts	0	USD
CY2018	us-gaap	Business Combination Acquisition Related Costs BusinessCombinationAcquisitionRelatedCosts	1700000	USD
CY2020	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	466000	USD
CY2019	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	311000	USD
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CY2020	us-gaap	Interest Expense InterestExpense	9684000	USD
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CY2020	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	310043000	USD
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CY2020	us-gaap	Asset Impairment Charges AssetImpairmentCharges	8435000	USD
CY2019	us-gaap	Asset Impairment Charges AssetImpairmentCharges	5002000	USD
CY2018	us-gaap	Asset Impairment Charges AssetImpairmentCharges	5809000	USD
CY2020	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	466000	USD
CY2019	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	311000	USD
CY2018	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	312000	USD
CY2020	us-gaap	Payments For Origination Of Mortgage Loans Held For Sale PaymentsForOriginationOfMortgageLoansHeldForSale	1843576000	USD
CY2019	us-gaap	Payments For Origination Of Mortgage Loans Held For Sale PaymentsForOriginationOfMortgageLoansHeldForSale	1382695000	USD
CY2018	us-gaap	Payments For Origination Of Mortgage Loans Held For Sale PaymentsForOriginationOfMortgageLoansHeldForSale	1200474000	USD
CY2020	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2019	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	448000	USD
CY2018	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2020	us-gaap	Proceeds From Sale Of Mortgage Loans Held For Sale ProceedsFromSaleOfMortgageLoansHeldForSale	1764845000	USD
CY2019	us-gaap	Proceeds From Sale Of Mortgage Loans Held For Sale ProceedsFromSaleOfMortgageLoansHeldForSale	1394841000	USD
CY2018	us-gaap	Proceeds From Sale Of Mortgage Loans Held For Sale ProceedsFromSaleOfMortgageLoansHeldForSale	1206167000	USD
CY2020	mho	Fair Value Adjustment Of Mortgage Loans Held For Sale FairValueAdjustmentOfMortgageLoansHeldForSale	318000	USD
CY2019	mho	Fair Value Adjustment Of Mortgage Loans Held For Sale FairValueAdjustmentOfMortgageLoansHeldForSale	-2261000	USD
CY2018	mho	Fair Value Adjustment Of Mortgage Loans Held For Sale FairValueAdjustmentOfMortgageLoansHeldForSale	3764000	USD
CY2020	us-gaap	Payments For Proceeds From Mortgage Servicing Rights PaymentsForProceedsFromMortgageServicingRights	6048000	USD
CY2019	us-gaap	Payments For Proceeds From Mortgage Servicing Rights PaymentsForProceedsFromMortgageServicingRights	4684000	USD
CY2018	us-gaap	Payments For Proceeds From Mortgage Servicing Rights PaymentsForProceedsFromMortgageServicingRights	4550000	USD
CY2020	us-gaap	Amortization Of Mortgage Servicing Rights Ms Rs AmortizationOfMortgageServicingRightsMSRs	2427000	USD
CY2019	us-gaap	Amortization Of Mortgage Servicing Rights Ms Rs AmortizationOfMortgageServicingRightsMSRs	1547000	USD
CY2018	us-gaap	Amortization Of Mortgage Servicing Rights Ms Rs AmortizationOfMortgageServicingRightsMSRs	784000	USD
CY2020	us-gaap	Gain On Sale Of Investments GainOnSaleOfInvestments	33000	USD
CY2019	us-gaap	Gain On Sale Of Investments GainOnSaleOfInvestments	0	USD
CY2018	us-gaap	Gain On Sale Of Investments GainOnSaleOfInvestments	1224000	USD
CY2020	us-gaap	Depreciation Depreciation	12636000	USD
CY2019	us-gaap	Depreciation Depreciation	11691000	USD
CY2018	us-gaap	Depreciation Depreciation	10956000	USD
CY2020	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	2515000	USD
CY2019	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	2712000	USD
CY2018	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	2791000	USD
CY2020	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-950000	USD
CY2019	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
CY2018	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
CY2020	us-gaap	Share Based Compensation ShareBasedCompensation	7138000	USD
CY2019	us-gaap	Share Based Compensation ShareBasedCompensation	5846000	USD
CY2018	us-gaap	Share Based Compensation ShareBasedCompensation	5974000	USD
CY2020	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-3448000	USD
CY2019	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-3851000	USD
CY2018	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-4957000	USD
CY2020	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	134941000	USD
CY2019	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	88358000	USD
CY2018	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	157573000	USD
CY2020	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	17253000	USD
CY2019	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	2072000	USD
CY2018	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-2044000	USD
CY2020	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	60643000	USD
CY2019	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-6485000	USD
CY2018	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	3750000	USD
CY2020	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	38173000	USD
CY2019	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	2407000	USD
CY2018	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	1521000	USD
CY2020	us-gaap	Increase Decrease In Accrued Salaries IncreaseDecreaseInAccruedSalaries	9420000	USD
CY2019	us-gaap	Increase Decrease In Accrued Salaries IncreaseDecreaseInAccruedSalaries	3944000	USD
CY2018	us-gaap	Increase Decrease In Accrued Salaries IncreaseDecreaseInAccruedSalaries	3486000	USD
CY2020	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	20465000	USD
CY2019	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-11005000	USD
CY2018	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	9403000	USD
CY2020	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	168334000	USD
CY2019	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	65631000	USD
CY2018	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2592000	USD
CY2020	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	11677000	USD
CY2019	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	4526000	USD
CY2018	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	8141000	USD
CY2020	us-gaap	Payments To Acquire Businesses Gross PaymentsToAcquireBusinessesGross	0	USD
CY2019	us-gaap	Payments To Acquire Businesses Gross PaymentsToAcquireBusinessesGross	0	USD
CY2018	us-gaap	Payments To Acquire Businesses Gross PaymentsToAcquireBusinessesGross	100960000	USD
CY2020	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	2477000	USD
CY2019	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	812000	USD
CY2018	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	676000	USD
CY2020	us-gaap	Payments To Acquire Interest In Subsidiaries And Affiliates PaymentsToAcquireInterestInSubsidiariesAndAffiliates	28539000	USD
CY2019	us-gaap	Payments To Acquire Interest In Subsidiaries And Affiliates PaymentsToAcquireInterestInSubsidiariesAndAffiliates	30188000	USD
CY2018	us-gaap	Payments To Acquire Interest In Subsidiaries And Affiliates PaymentsToAcquireInterestInSubsidiariesAndAffiliates	31867000	USD
CY2020	us-gaap	Proceeds From Sale Of Mortgage Servicing Rights Msr ProceedsFromSaleOfMortgageServicingRightsMSR	3869000	USD
CY2019	us-gaap	Proceeds From Sale Of Mortgage Servicing Rights Msr ProceedsFromSaleOfMortgageServicingRightsMSR	0	USD
CY2018	us-gaap	Proceeds From Sale Of Mortgage Servicing Rights Msr ProceedsFromSaleOfMortgageServicingRightsMSR	6335000	USD
CY2020	us-gaap	Proceeds From Sale Of Property Held For Sale ProceedsFromSaleOfPropertyHeldForSale	0	USD
CY2019	us-gaap	Proceeds From Sale Of Property Held For Sale ProceedsFromSaleOfPropertyHeldForSale	6308000	USD
CY2018	us-gaap	Proceeds From Sale Of Property Held For Sale ProceedsFromSaleOfPropertyHeldForSale	0	USD
CY2020	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-33870000	USD
CY2019	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-27594000	USD
CY2018	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-133957000	USD
CY2020	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	300000000	USD
CY2019	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	0	USD
CY2018	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	0	USD
CY2020	us-gaap	Proceeds From Other Debt ProceedsFromOtherDebt	400000000	USD
CY2019	us-gaap	Proceeds From Other Debt ProceedsFromOtherDebt	0	USD
CY2018	us-gaap	Proceeds From Other Debt ProceedsFromOtherDebt	0	USD
CY2020	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	0	USD
CY2019	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	0	USD
CY2018	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	-65941000	USD
CY2020	us-gaap	Proceeds From Bank Debt ProceedsFromBankDebt	306800000	USD
CY2019	us-gaap	Proceeds From Bank Debt ProceedsFromBankDebt	696500000	USD
CY2018	us-gaap	Proceeds From Bank Debt ProceedsFromBankDebt	666600000	USD
CY2019	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	19644000	USD
CY2018	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	538000	USD
CY2020	us-gaap	Repayments Of Bank Debt RepaymentsOfBankDebt	372800000	USD
CY2019	us-gaap	Repayments Of Bank Debt RepaymentsOfBankDebt	747900000	USD
CY2018	us-gaap	Repayments Of Bank Debt RepaymentsOfBankDebt	549200000	USD
CY2020	us-gaap	Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess	88730000	USD
CY2019	us-gaap	Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess	-16264000	USD
CY2018	us-gaap	Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess	-15027000	USD
CY2020	us-gaap	Proceeds From Repayments Of Other Debt ProceedsFromRepaymentsOfOtherDebt	-1756000	USD
CY2019	us-gaap	Proceeds From Repayments Of Other Debt ProceedsFromRepaymentsOfOtherDebt	-110000	USD
CY2018	us-gaap	Proceeds From Repayments Of Other Debt ProceedsFromRepaymentsOfOtherDebt	-4638000	USD
CY2020	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1912000	USD
CY2019	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	5150000	USD
CY2018	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	25709000	USD
CY2020	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	8705000	USD
CY2019	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	203000	USD
CY2018	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	248000	USD
CY2020	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	9906000	USD
CY2020	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	120263000	USD
CY2019	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-53483000	USD
CY2018	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	6375000	USD
CY2020	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	254727000	USD
CY2019	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-15446000	USD
CY2018	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-130174000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6083000	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	21529000	USD
CY2017Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	151703000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	260810000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6083000	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	21529000	USD
CY2020	us-gaap	Interest Paid Net InterestPaidNet	7811000	USD
CY2019	us-gaap	Interest Paid Net InterestPaidNet	18962000	USD
CY2018	us-gaap	Interest Paid Net InterestPaidNet	17793000	USD
CY2020	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	63666000	USD
CY2019	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	36993000	USD
CY2018	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	25279000	USD
CY2020	mho	Community Development District Infrastructure CommunityDevelopmentDistrictInfrastructure	-5335000	USD
CY2019	mho	Community Development District Infrastructure CommunityDevelopmentDistrictInfrastructure	1139000	USD
CY2018	mho	Community Development District Infrastructure CommunityDevelopmentDistrictInfrastructure	-657000	USD
CY2020	mho	Consolidated Inventory Not Owned Obligation ConsolidatedInventoryNotOwnedObligation	1980000	USD
CY2019	mho	Consolidated Inventory Not Owned Obligation ConsolidatedInventoryNotOwnedObligation	-11374000	USD
CY2018	mho	Consolidated Inventory Not Owned Obligation ConsolidatedInventoryNotOwnedObligation	-2237000	USD
CY2020	mho	Distribution Of Single Family Lots From Unconsolidated Llcs DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs	29740000	USD
CY2019	mho	Distribution Of Single Family Lots From Unconsolidated Llcs DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs	27672000	USD
CY2018	mho	Distribution Of Single Family Lots From Unconsolidated Llcs DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs	16158000	USD
CY2020	us-gaap	Proceeds From Repurchase Of Equity ProceedsFromRepurchaseOfEquity	0	USD
CY2019	us-gaap	Proceeds From Repurchase Of Equity ProceedsFromRepurchaseOfEquity	0	USD
CY2018	us-gaap	Proceeds From Repurchase Of Equity ProceedsFromRepurchaseOfEquity	20309000	USD
CY2020	us-gaap	Basis Of Accounting BasisOfAccounting	Summary of Significant Accounting Policies<div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> M/I Homes, Inc. and its subsidiaries (the “Company” or “we”) is engaged primarily in the construction and sale of single-family residential homes in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Orlando and Sarasota, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; and Charlotte and Raleigh, North Carolina. The Company designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction. The Company also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others. Our homebuilding operations operate across two geographic regions in the United States. Within these regions, our operations have similar economic characteristics; therefore, they have been aggregated into two reportable homebuilding segments: Southern homebuilding and Northern homebuilding.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company conducts mortgage financing activities through its 100%-owned subsidiary, M/I Financial, LLC (“M/I Financial”), which originates mortgage loans primarily for purchasers of the Company’s homes. The loans and the servicing rights are generally sold to outside mortgage lenders. The Company and M/I Financial also operate 100%-owned subsidiaries that provide title services to purchasers of the Company’s homes. Our mortgage banking and title service activities have similar economic characteristics; therefore, they have been aggregated into one reportable segment, the financial services segment. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of M/I Homes, Inc. and those of our consolidated subsidiaries, partnerships and other entities in which we have a controlling financial interest, and of variable interest entities in which we are deemed the primary beneficiary. Intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP 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 consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Cash, Cash Equivalents and Restricted Cash.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Cash and cash equivalents are liquid investments with an initial maturity of three months or less. Amounts in transit from title companies for homes delivered are included in this balance at December 31, 2020 and 2019, respectively. Restricted cash consists of cash held in escrow. Cash, Cash Equivalents and Restricted Cash includes restricted cash balances of $0.1 million and $0.2 million at December 31, 2020 and 2019, respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Mortgage Loans Held for Sale.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Mortgage loans held for sale consists primarily of single-family residential loans collateralized by the underlying property. Generally, all of the mortgage loans and related servicing rights are sold to third-party investors shortly after origination. Refer to the Revenue Recognition policy described below for additional discussion.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Inventory.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. Land acquisition, land development and common costs (both incurred and estimated to be incurred) are typically allocated to individual lots based on the total number of lots expected to be closed in each community or phase, or based on the relative fair value, the relative sales value or the front footage method of each lot. Any changes to the estimated total development costs of a community or phase are allocated proportionately to homes remaining in the community or phase and homes previously closed. The cost of individual lots is transferred to homes under construction when home construction begins. Home construction costs are accumulated on a specific identification basis. Costs of home deliveries include the specific construction cost of the home and the allocated lot costs. Such costs are charged to cost of sales simultaneously with revenue recognition, as discussed above. When a home is closed, we typically have not yet paid all incurred costs necessary to complete the home. As homes close, we compare the home construction budget to actual recorded costs to date to estimate the additional costs to be incurred from our subcontractors related to the home. We record a liability and a corresponding charge to cost of sales for the amount we estimate will ultimately be paid related to that home. We monitor the accuracy of such estimates by comparing actual costs incurred in subsequent months to the estimate, although actual costs to complete a home in the future could differ from our estimates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventory is recorded at cost, unless events and circumstances indicate that the carrying value of the inventory is impaired, at which point the inventory is written down to fair value as required by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property, Plant and Equipment </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 360”). The Company assesses </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">inventory for recoverability on a quarterly basis to determine if events or changes in local or national economic conditions indicate that the carrying amount of an asset may not be recoverable. In conducting our quarterly review for indicators of impairment on a community level, we evaluate, among other things, the margins on sales contracts in backlog, the margins on homes that have been delivered, expected changes in margins with regard to future home sales over the life of the community, expected changes in margins with regard to future land sales, the value of the land itself as well as any results from third party appraisals. We pay particular attention to communities in which inventory is moving at a slower than anticipated absorption pace, and communities whose average sales price and/or margins are trending downward and are anticipated to continue to trend downward. We also evaluate communities where management intends to lower the sales price or offer incentives in order to improve absorptions even if the community’s historical results do not indicate a potential for impairment. From the review of all of these factors, we identify communities whose carrying values may exceed their estimated undiscounted future cash flows and run a test for recoverability. For those communities whose carrying values exceed the estimated undiscounted future cash flows and which are deemed to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the communities exceeds the estimated fair value. Due to the fact that the Company’s cash flow models and estimates of fair values are based upon management estimates and assumptions, unexpected changes in market conditions and/or changes in management’s intentions with respect to the inventory may lead the Company to incur additional impairment charges in the future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our determination of fair value is based on projections and estimates, which are Level 3 measurement inputs. Because each inventory asset is unique, there are numerous inputs and assumptions used in our valuation techniques, including estimated average selling price, construction and development costs, absorption pace (reflecting any product mix change strategies implemented or to be implemented), selling strategies, alternative land uses (including disposition of all or a portion of the land owned), or discount rates, which could materially impact future cash flow and fair value estimates. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2020, our projections generally assume a gradual improvement in market conditions over time. If communities are not recoverable based on estimated future undiscounted cash flows, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. The fair value of a community is estimated by discounting management’s cash flow projections using an appropriate risk-adjusted interest rate. As of both December 31, 2020 and December 31, 2019, we utilized discount rates ranging from 13% to 16% in our valuations. The discount rate used in determining each asset’s estimated fair value reflects the inherent risks associated with the related estimated cash flow stream, as well as current risk-free rates available in the market and estimated market risk premiums. For example, construction in progress inventory, which is closer to completion, will generally require a lower discount rate than land under development in communities consisting of multiple phases spanning several years of development.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our quarterly assessments reflect management’s best estimates. Due to the inherent uncertainties in management’s estimates and uncertainties related to our operations and our industry as a whole, we are unable to determine at this time if and to what extent continuing future impairments will occur. Additionally, due to the volume of possible outcomes that can be generated from changes in the various model inputs for each community, we do not believe it is possible to create a sensitivity analysis that can provide meaningful information for the users of our consolidated financial statements. Further details relating to our assessment of inventory for recoverability are included in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_103" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Property and Equipment-net.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company records property and equipment at cost and subsequently depreciates the assets using both straight-line and accelerated methods. Following are the major classes of depreciable assets and their estimated useful lives:</span></div><div style="margin-bottom:10pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:75.946%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.700%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.428%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Office furnishings, leasehold improvements, computer equipment and computer software</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,567</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,207 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transportation and construction equipment</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,045</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,061 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property and equipment</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">47,612</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,268 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accumulated depreciation</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21,000)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16,150)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property and equipment, net</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,612</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,118 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.677%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.123%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Estimated Useful Lives</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Office furnishings, leasehold improvements, computer equipment and computer software</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3-7 years</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transportation and construction equipment</span></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5-25 years</span></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation expense was $6.8 million, $5.9 million and $5.6 million in 2020, 2019 and 2018, respectively.</span></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Goodwill.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired and liabilities assumed in business combinations. As a result of the Company’s acquisition of the homebuilding assets and operations of Pinnacle Homes in Detroit, Michigan on March 1, 2018, the Company recorded goodwill of $16.4 million, which is included as Goodwill in our Consolidated Balance Sheets. This amount was based on the estimated fair values of the acquired assets and assumed liabilities at the date of the acquisition in accordance with ASC 350,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Intangibles, Goodwill and Other </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 350”). The Company performed its annual goodwill impairment analysis during the fourth quarter of 2020, and no impairment was recorded at December 31, 2020. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_154" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 12</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to the Company’s Consolidated Financial Statements for further discussion.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Assets.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Other assets at December 31, 2020 and 2019 consisted of the following:</span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.408%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Development reimbursement receivable from local municipalities</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,237</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,083 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mortgage servicing rights</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,237</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,614 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid expenses</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,918</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,841 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid acquisition costs</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,092</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,688 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,691</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,085 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total other assets</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95,175</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70,311 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Warranty Reserves. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> We use subcontractors for nearly all aspects of home construction. Although our subcontractors are generally required to repair and replace any product or labor defects, we are, during applicable warranty periods, ultimately responsible to the homeowner for making such repairs. As such, we record warranty reserves to cover our exposure to the costs for materials and labor not expected to be covered by our subcontractors to the extent they relate to warranty-type claims. Warranty reserves are established by charging cost of sales and crediting a warranty reserve for each home delivered. The amounts charged are estimated by management to be adequate to cover expected warranty-related costs under the Company’s warranty programs. Warranty reserves are recorded for warranties under our Home Builder’s Limited Warranty (“HBLW”) and our transferable structural warranty (see additional information in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_133" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 8</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The warranty reserves for the HBLW are established as a percentage of average sales price and adjusted based on historical payment patterns determined, generally, by geographic area and recent trends. Factors that are given consideration in determining the HBLW reserves include: (1) the historical range of amounts paid per average sales price on a home; (2) type and mix of amenity packages added to the home; (3) any warranty expenditures not considered to be normal and recurring; (4) timing of payments; (5) improvements in quality of construction expected to impact future warranty expenditures; and (6) conditions that may affect certain projects and require a different percentage of average sales price for those specific projects. Changes in estimates for warranties occur due to changes in the historical payment experience and differences between the actual payment pattern experienced during the period and the historical payment pattern used in our evaluation of the warranty reserve balance at the end of each quarter. Actual future warranty costs could differ from our current estimated amount.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our warranty reserves for our transferable structural warranty programs are established on a per-unit basis. While the structural warranty reserve is recorded as each house is delivered, the sufficiency of the structural warranty per unit charge and total reserve is re-evaluated on an annual basis, with the assistance of an actuary, using our own historical data and trends, industry-wide historical data and trends, and other project specific factors. The reserves are also evaluated quarterly and adjusted if we encounter activity that is inconsistent with the historical experience used in the annual analysis. These reserves are subject to variability due to uncertainties regarding structural defect claims for products we build, the markets in which we build, claim settlement history, insurance and legal interpretations, among other factors.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our warranty reserve amounts are based upon historical experience and geographic location. While we believe that our warranty reserves are sufficient to cover our projected costs, there can be no assurances that historical data and trends will accurately predict our actual warranty costs. At December 31, 2020 and 2019, warranty reserves of $29.0 million and $26.4 million, respectively, are included in Other Liabilities on the Consolidated Balance Sheets. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_133" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 8</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements for additional information related to our warranty reserves, including reserves related to stucco-related repairs in certain of our Florida communities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Self-insurance Reserves.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Self-insurance reserves are made for estimated liabilities associated with employee health care, workers’ compensation, and general liability insurance. Our workers’ compensation claims are insured by a third party. The reserves related to employee health care and workers’ compensation are based on historical experience and open case reserves. Our general liability claims are insured by a third party, subject to a self-insured retention (“SIR”). The Company records a reserve for general liability claims falling below the Company’s SIR. The reserve estimate is based on an actuarial evaluation of our past history of general liability claims, other industry specific factors and specific event analysis. At December 31, 2020 </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and 2019, self-insurance reserves of $2.8 million and $2.7 million, respectively, are included in Other Liabilities on the Consolidated Balance Sheets. The Company recorded expenses totaling $10.1 million, $9.5 million and $9.2 million for all self-insured and general liability claims during the years ended December 31, 2020, 2019 and 2018, respectively.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Liabilities.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Other liabilities at December 31, 2020 and 2019 consisted of the following:</span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.408%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accruals related to land development</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64,580</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48,694 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Warranty</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,012</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,420 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payroll and other benefits</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">44,330</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,125 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45,661</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,698 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total other liabilities</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">183,583</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">147,937 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Revenue and the related profit from the sale of a home and revenue and the related profit from the sale of land to third parties are recognized in the financial statements on the date of closing if delivery has occurred, title has passed to the buyer, all performance obligations (as defined below) have been met, and control of the home or land is transferred to the buyer in an amount that reflects the consideration we expect to be entitled to receive in exchange for the home or land. If not received immediately upon closing, cash proceeds from home closings are held in escrow for the Company’s benefit, typically for up to three days, and are included in Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales incentives vary by type of incentive and by amount on a community-by-community and home-by-home basis. The costs of any sales incentives in the form of free or discounted products and services provided to homebuyers are reflected in Land and housing costs in the Consolidated Statements of Income because such incentives are identified in our home purchase contracts with homebuyers as an intrinsic part of our single performance obligation to deliver and transfer title to their home for the transaction price stated in the contracts. Sales incentives that we may provide in the form of closing cost allowances are recorded as a reduction of housing revenue at the time the home is delivered. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We record sales commissions within Selling expenses in the Consolidated Statements of Income when incurred (i.e., when the home is delivered) as the amortization period is generally one year or less and therefore capitalization is not required as part of the practical expedient for incremental costs of obtaining a contract. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contract liabilities include customer deposits related to sold but undelivered homes. Substantially all of our home sales are scheduled to close and be recorded to revenue within one year from the date of receiving a customer deposit. Contract liabilities expected to be recognized as revenue, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. All of our home purchase contracts have a single performance obligation as the promise to transfer the home is not separately identifiable from other promises in the contract and, therefore, not distinct. Our performance obligation, to deliver the agreed-upon home, is generally satisfied in less than one year from the original contract date. Deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers is not material.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although our third party land sale contracts may include multiple performance obligations, the revenue we expect to recognize in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material. We do not disclose the value of unsatisfied performance obligations for land sale contracts with an original expected duration of one year or less.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or retained and managed under a third party sub-service arrangement. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee (note that guarantees are excluded from the scope of ASC 606). As of December 31, 2020 and 2019, we retained mortgage servicing rights of 5,489 and 3,613 loans, respectively, for a total value of $9.2 million and $9.6 million, respectively. We recognize financial services revenue associated with our title operations as homes are delivered, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is delivered. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents our revenues disaggregated by revenue source:</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:513.00pt"><tr><td style="width:1.0pt"/><td style="width:363.25pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:43.75pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:3.25pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:43.75pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:3.25pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:43.75pt"/><td style="width:1.0pt"/></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr style="height:11pt"><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Dollars in thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2018</span></div></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:11pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Housing</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,939,962</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,420,348 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,217,197 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:11pt"><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land sales</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,170</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,619 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,889 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:11pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial services </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(a)</span></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">87,013</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,323 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,196 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:11pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,046,145</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,500,290 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,286,282 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%">(a)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;padding-left:9.36pt">Revenues include hedging losses of $19.0 million and $12.1 million for the years ended December 31, 2020 and 2019, respectively, and hedging gains of $3.6 million for the year ended December 31, 2018. Hedging gains (losses) do not represent revenues recognized from contracts with customers.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Refer to</span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_166" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"> Note 15</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for presentation of our revenues disaggregated by geography. As our homebuilding operations accounted for over 97% of our total revenues for the years ended December 31, 2020, 2019 and 2018, with most of those revenues generated from home purchase contracts with customers, we believe the disaggregation of revenues as disclosed above and in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_166" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 15</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> fairly depict how the nature, amount, timing and uncertainty of cash flows are affected by economic factors.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Land and Housing Cost of Sales. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All associated homebuilding costs are charged to cost of sales in the period when the revenues from home deliveries are recognized. Homebuilding costs include: land and land development costs; home construction costs (including an estimate of the costs to complete construction); previously capitalized interest; real estate taxes; indirect costs; and estimated warranty costs. All other costs are expensed as incurred. Sales incentives, including pricing discounts and financing costs paid by the Company, are recorded as a reduction of revenue in the Company’s Consolidated Statements of Income. Sales incentives in the form of options or upgrades are recorded in homebuilding costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company records income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based on future tax consequences attributable to (1) temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and (2) operating loss and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the change is enacted. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC 740-10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 740”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> we evaluate the realizability of our deferred tax assets, including the benefit from net operating losses (“NOLs”) and tax credit carryforwards, if any, to determine if a valuation allowance is required based on whether it is more likely than not (a likelihood of more than 50%) that all or any portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income. In determining the future tax consequences of events that have been recognized in the consolidated financial statements or tax returns, judgment is required. This assessment gives appropriate consideration to all positive and negative evidence related to the realization of the deferred tax assets and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, our experience with operating losses and our experience of utilizing tax credit carryforwards and tax planning alternatives. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_160" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 14</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements for more information regarding our deferred tax assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Earnings Per Share.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company computes earnings per share in accordance with ASC 260, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Earnings per Share</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, (“ASC 260”). Basic earnings per share is calculated by dividing income attributable to common shareholders by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to the potential dilution that could occur if securities or contracts to issue our common shares that are dilutive were exercised or converted into common shares or resulted in the issuance of common shares that then shared our earnings. In periods of net losses, no dilution is computed. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_157" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 13</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements for more information regarding our earnings per share calculation.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards and SEC Guidance.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to estimate credit losses. ASU 2016-13 is effective for our fiscal year beginning January 1, 2020. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU No. 2018-19, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements to Topic 326, Financial Instruments-Credit Losses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2018-19”) in November 2018, ASU No. 2019-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2019-04”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in April 2019, and ASU No. 2019-05, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments-Credit Losses (Topic 326) Targeted Transition Relief </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2019-05”) in May 2019. These ASUs do not change the core principle of the guidance in ASU 2016-13. Instead these amendments are intended to clarify and improve operability of certain topics included within the </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">credit losses standard. These ASUs will have the same effective date and transition requirements as ASU 2016-13. Our adoption of ASU 2016-13 on January 1, 2020 did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2018, the FASB issued ASU No. 2018-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2018-13”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ASU 2018-13 modifies the disclosure requirements for fair value measurements and removes the requirement to disclose (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. ASU 2018-13 requires disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For all entities, ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Our adoption of ASU 2018-13 on January 1, 2020 did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Facilitation of the Effects of Reference Rate Reform on Financial Reporting </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective beginning March 12, 2020 and can be applied prospectively through December 31, 2022. Our adoption of this guidance did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the Securities and Exchange Commission (the “SEC”) issued Final Rule Release No. 33-10762, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Disclosures About Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities (“SEC Release No. 33-10762”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which amends the financial disclosure requirements applicable to registered debt offerings that include credit enhancements, such as subsidiary guarantees, in Rule 3-10 of Regulation S-X. The amended rule focuses on providing material, relevant and decision-useful information regarding guarantees and other credit enhancements, while eliminating certain prescriptive requirements. In October 2020, the FASB issued ASU No. 2020-09, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt (Topic 470) - Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762 (“ASU 2020-09”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, to reflect the SEC’s new disclosure rules on guaranteed debt securities offerings adopted by the Company. The new SEC and FASB guidance is effective January 4, 2021 with earlier adoption permitted. The Company early adopted these amendments on December 31, 2020. Accordingly, summarized financial information has been presented only for the issuers and guarantors of the Company's registered securities for the most recent fiscal year and as permitted, this information is included in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.”</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2020, the SEC issued Final Rule Release No.33-10786, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Amendments to Financial Disclosures about Acquired and Disposed Businesses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">SEC Release No. 33-10786”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The rule was effective on January 1, 2021. Our adoption of this rule did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, the SEC issued Final Rule Release No. 33-10825, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Modernization of Regulation S-K Items 101, 103, and 105 (“SEC Release No. 33-10825”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The rule was effective on November 9, 2020. Our adoption of this rule did not have a material impact on our consolidated financial statements and disclosures. The updated disclosures required by this rule are included in “Item 1. Business”, “Item 2. Risk Factors” and “Item 3. Legal Proceedings.”</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2020, the SEC issued Final Rule Release No. 33-10890, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information (“SEC Release No. 33-10890”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The rule was effective on February 10, 2021. We elected to early adopt Items 301 and 302 of this rule which eliminated the disclosure of certain selected financial data and supplementary financial data, which did not have a material impact on our consolidated financial statements and disclosures. We did not adopt the amendments related to Item 303. The Company is required to adopt those amendments in its Form 10-K for the fiscal year ended December 31, 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impact of New Accounting Standards.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, the FASB issued ASU No. 2019-12, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ("ASU 2019-12"), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning January 1, 2021. We are currently evaluating the impact the adoption of ASU 2019-12 will have on our Consolidated Financial Statements and disclosures, but we do not expect that adoption will have a material impact on our Consolidated Financial Statements and disclosures. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-03, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements to Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2020-03”). ASU 2020-03 improves and clarifies various financial instruments topics, including the current expected credit losses (CECL) standard issued in 2016 (described above). ASU 2020-03 includes seven different issues that describe the areas of improvement and the related amendments to GAAP that are intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments have different effective dates. We are currently evaluating the effect of adopting this new accounting guidance, but we do not expect that adoption will have a material impact on our Consolidated Financial Statements and disclosures.</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, the FASB issued ASU 2020-06, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt-Debt with Conversion and Other Options</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2020-06”), to address the complexity associated with applying GAAP to certain financial instruments with characteristics of liabilities and equity. The ASU includes amendments to the guidance on convertible instruments and the derivative scope exception for contracts in an entity’s own equity and simplifies the accounting for convertible instruments which include beneficial conversion features or cash conversion features by removing certain separation models in Subtopic 470-20. Additionally, the ASU will require entities to use the “if-converted” method when calculating diluted earnings per share for convertible instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We are currently evaluating the effect of adopting this new accounting guidance, but we do not expect that adoption will have a material impact on our Consolidated Financial Statements and disclosures.</span></div>
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CY2020Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	47612000	USD
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CY2020Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	21000000	USD
CY2019Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	16150000	USD
CY2020Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	26612000	USD
CY2019Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	22118000	USD
CY2020	us-gaap	Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense	6800000	USD
CY2019	us-gaap	Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense	5900000	USD
CY2018	us-gaap	Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense	5600000	USD
CY2020Q4	us-gaap	Goodwill Goodwill	16400000	USD
CY2020Q4	us-gaap	Other Receivables OtherReceivables	22237000	USD
CY2019Q4	us-gaap	Other Receivables OtherReceivables	16083000	USD
CY2020Q4	us-gaap	Servicing Asset ServicingAsset	9237000	USD
CY2019Q4	us-gaap	Servicing Asset ServicingAsset	9614000	USD
CY2020Q4	us-gaap	Prepaid Expense Current And Noncurrent PrepaidExpenseCurrentAndNoncurrent	15918000	USD
CY2019Q4	us-gaap	Prepaid Expense Current And Noncurrent PrepaidExpenseCurrentAndNoncurrent	13841000	USD
CY2020Q4	mho	Prepaid Land Acquisition Costs PrepaidLandAcquisitionCosts	10092000	USD
CY2019Q4	mho	Prepaid Land Acquisition Costs PrepaidLandAcquisitionCosts	5688000	USD
CY2020Q4	us-gaap	Other Assets Miscellaneous OtherAssetsMiscellaneous	37691000	USD
CY2019Q4	us-gaap	Other Assets Miscellaneous OtherAssetsMiscellaneous	25085000	USD
CY2020Q4	us-gaap	Other Assets OtherAssets	95175000	USD
CY2019Q4	us-gaap	Other Assets OtherAssets	70311000	USD
CY2020Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	29000000.0	USD
CY2019Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	26400000	USD
CY2020Q4	us-gaap	Self Insurance Reserve SelfInsuranceReserve	2800000	USD
CY2019Q4	us-gaap	Self Insurance Reserve SelfInsuranceReserve	2700000	USD
CY2020	us-gaap	General Insurance Expense GeneralInsuranceExpense	10100000	USD
CY2019	us-gaap	General Insurance Expense GeneralInsuranceExpense	9500000	USD
CY2018	us-gaap	General Insurance Expense GeneralInsuranceExpense	9200000	USD
CY2020Q4	mho	Accrualsrelatedtolanddevelopment Accrualsrelatedtolanddevelopment	64580000	USD
CY2019Q4	mho	Accrualsrelatedtolanddevelopment Accrualsrelatedtolanddevelopment	48694000	USD
CY2020Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	29012000	USD
CY2019Q4	us-gaap	Standard Product Warranty Accrual StandardProductWarrantyAccrual	26420000	USD
CY2020Q4	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	44330000	USD
CY2019Q4	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	35125000	USD
CY2020Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	45661000	USD
CY2019Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	37698000	USD
CY2020Q4	us-gaap	Other Liabilities OtherLiabilities	183583000	USD
CY2019Q4	us-gaap	Other Liabilities OtherLiabilities	147937000	USD
CY2020Q4	mho	Number Of Loans We Retain Mortgage Servicing Rights On NumberOfLoansWeRetainMortgageServicingRightsOn	5489
CY2019Q4	mho	Number Of Loans We Retain Mortgage Servicing Rights On NumberOfLoansWeRetainMortgageServicingRightsOn	3613
CY2020	us-gaap	Revenues Revenues	3046145000	USD
CY2019	us-gaap	Revenues Revenues	2500290000	USD
CY2018	us-gaap	Revenues Revenues	2286282000	USD
CY2020	us-gaap	Gain Loss On Oil And Gas Hedging Activity GainLossOnOilAndGasHedgingActivity	-19000000.0	USD
CY2019	us-gaap	Gain Loss On Oil And Gas Hedging Activity GainLossOnOilAndGasHedgingActivity	-12100000	USD
CY2018	us-gaap	Gain Loss On Oil And Gas Hedging Activity GainLossOnOilAndGasHedgingActivity	3600000	USD
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CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized	2250000	shares
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CY2019Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	25.30
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CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	424500	shares
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	8400000	USD
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	14500000	USD
CY2018	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	600000	USD
CY2020	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3900000	USD
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3600000	USD
CY2020	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	42.23
CY2020	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	422820	shares
CY2020	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	23.43
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	0	shares
CY2020	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	0
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1625400	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	30.21
CY2020	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P7Y3M10D
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	22882000	USD
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	1580805	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	30.11
CY2020	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P7Y3M3D
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	22408000	USD
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	666100	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	23.91
CY2020	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2	P5Y10M2D
CY2020Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	13577000	USD
CY2018	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3900000	USD
CY2020Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	9000000.0	USD
CY2020	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P2Y1M6D
CY2020Q4	mho	Stock Units Awarded Under2009 Ltip Plan StockUnitsAwardedUnder2009LtipPlan	24000	shares
CY2018Q4	mho	Stock Units Awarded Under2009 Ltip Plan StockUnitsAwardedUnder2009LtipPlan	21000	shares
CY2020Q4	mho	Value Of Stock Units Awarded Under2009 Ltip Plan ValueOfStockUnitsAwardedUnder2009LtipPlan	700000	USD
CY2020Q4	mho	Share Based Compensation Arrangement By Share Based Payment Award Units Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardUnitsOutstanding	8059	shares
CY2020Q4	mho	Share Based Compensation Arrangement By Share Based Payment Award Value Of Units Outstanding ShareBasedCompensationArrangementByShareBasedPaymentAwardValueOfUnitsOutstanding	200000	USD
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CY2020Q4	mho	Percentageweightof Ps Usrelatedtomarketcondition PercentageweightofPSUsrelatedtomarketcondition	0.20	Rate
CY2020Q4	us-gaap	Deferred Compensation Liability Current And Noncurrent DeferredCompensationLiabilityCurrentAndNoncurrent	200000	USD
CY2020	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	400000	USD
CY2020Q4	mho	Stock Units Outstanding Under Stock Option Plan StockUnitsOutstandingUnderStockOptionPlan	50579	shares
CY2020Q4	mho	Total Value Of Units Outstanding Under All Stock Option Plans TotalValueOfUnitsOutstandingUnderAllStockOptionPlans	1300000	USD
CY2020Q4	us-gaap	Deferred Compensation Equity DeferredCompensationEquity	2200000	USD
CY2020Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits	1200000	USD
CY2020	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	3900000	USD
CY2019	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	2900000	USD
CY2018	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	2300000	USD
CY2020	us-gaap	Mortgage Servicing Rights Msr Impairment Recovery MortgageServicingRightsMSRImpairmentRecovery	200000	USD
CY2020	us-gaap	Mortgage Servicing Rights Msr Impairment Recovery MortgageServicingRightsMSRImpairmentRecovery	200000	USD
CY2020Q4	mho	Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments	2354000	USD
CY2018	mho	Gain Loss On Assets And Liabilities Measured On Recurring Basis GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis	833000	USD
CY2019Q4	mho	Model Home Accumulated Depreciation ModelHomeAccumulatedDepreciation	12723000	USD
CY2020Q4	mho	Inventory Model Homes And Furnishings InventoryModelHomesAndFurnishings	81264000	USD
CY2019Q4	mho	Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments	1445000	USD
CY2020Q4	mho	Notional Amount Of Uncommitted Interest Rate Lock Commitments NotionalAmountOfUncommittedInterestRateLockCommitments	208500000	USD
CY2019Q4	mho	Notional Amount Of Uncommitted Interest Rate Lock Commitments NotionalAmountOfUncommittedInterestRateLockCommitments	87340000	USD
CY2020Q4	mho	Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments	183000000	USD
CY2019Q4	mho	Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments	88000000	USD
CY2020Q4	mho	Best Effort Contracts And Related Mortgage Loans Held For Sale BestEffortContractsAndRelatedMortgageLoansHeldForSale	78142000	USD
CY2019Q4	mho	Best Effort Contracts And Related Mortgage Loans Held For Sale BestEffortContractsAndRelatedMortgageLoansHeldForSale	6125000	USD
CY2020Q4	mho	Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale	131000000	USD
CY2019Q4	mho	Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale	144000000	USD
CY2020Q4	mho	Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities	148331000	USD
CY2019Q4	mho	Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities	144411000	USD
CY2020	mho	Gain Loss On Assets And Liabilities Measured On Recurring Basis GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis	-382000	USD
CY2019	mho	Gain Loss On Assets And Liabilities Measured On Recurring Basis GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis	511000	USD
CY2019Q4	mho	Inventory Model Homes And Furnishings InventoryModelHomesAndFurnishings	98777000	USD
CY2020Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	868288000	USD
CY2019Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	858065000	USD
CY2020Q4	us-gaap	Inventory Land Held For Sale InventoryLandHeldForSale	4623000	USD
CY2019Q4	us-gaap	Inventory Land Held For Sale InventoryLandHeldForSale	5670000	USD
CY2020Q4	us-gaap	Inventory Homes Under Construction InventoryHomesUnderConstruction	898966000	USD
CY2019Q4	us-gaap	Inventory Homes Under Construction InventoryHomesUnderConstruction	756998000	USD
CY2020Q4	mho	Model Home Accumulated Depreciation ModelHomeAccumulatedDepreciation	12909000	USD
CY2020Q4	mho	Community Development District CommunityDevelopmentDistrict	8196000	USD
CY2019Q4	mho	Community Development District CommunityDevelopmentDistrict	13531000	USD
CY2020Q4	mho	Land Purchase Deposits LandPurchaseDeposits	45357000	USD
CY2019Q4	mho	Land Purchase Deposits LandPurchaseDeposits	28532000	USD
CY2020Q4	us-gaap	Land Under Purchase Options Recorded LandUnderPurchaseOptionsRecorded	9914000	USD
CY2019Q4	us-gaap	Land Under Purchase Options Recorded LandUnderPurchaseOptionsRecorded	7934000	USD
CY2020Q4	us-gaap	Inventory Real Estate InventoryRealEstate	1916608000	USD
CY2019Q4	us-gaap	Inventory Real Estate InventoryRealEstate	1769507000	USD
CY2020Q4	mho	Number Of Speculative Homes NumberOfSpeculativeHomes	1131	homes
CY2020Q4	mho	Speculative Homes Carrying Value SpeculativeHomesCarryingValue	186900000	USD
CY2019Q4	mho	Number Of Speculative Homes NumberOfSpeculativeHomes	1459	homes
CY2019Q4	mho	Speculative Homes Carrying Value SpeculativeHomesCarryingValue	304000000.0	USD
CY2019Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	21607000	USD
CY2018Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	20765000	USD
CY2019Q4	mho	Loan Repurchase Guarantee Liability LoanRepurchaseGuaranteeLiability	500000	USD
CY2020Q4	us-gaap	Guarantee Obligations Current Carrying Value GuaranteeObligationsCurrentCarryingValue	1400000	USD
CY2017Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	17169000	USD
CY2020	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	32408000	USD
CY2019	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	30253000	USD
CY2018	us-gaap	Real Estate Inventory Capitalized Interest Costs Incurred RealEstateInventoryCapitalizedInterestCostsIncurred	29053000	USD
CY2020	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	32686000	USD
CY2019	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	29411000	USD
CY2018	us-gaap	Real Estate Inventory Capitalized Interest Costs Cost Of Sales1 RealEstateInventoryCapitalizedInterestCostsCostOfSales1	25457000	USD
CY2020Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	21329000	USD
CY2019Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	21607000	USD
CY2018Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	20765000	USD
CY2020	us-gaap	Interest Costs Incurred InterestCostsIncurred	42092000	USD

CY2020

dei

Entity Central Index Key

EntityCentralIndexKey

0000799292

CY2020

dei

Current Fiscal Year End Date

CurrentFiscalYearEndDate

--12-31

CY2020

dei

Document Fiscal Year Focus

DocumentFiscalYearFocus

2020

CY2020

dei

Document Fiscal Period Focus

DocumentFiscalPeriodFocus

FY

CY2020

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Amendment Flag

AmendmentFlag

false

CY2020Q4

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

0.01

CY2019Q4

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

0.01

CY2020Q4

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Common Stock Shares Authorized

CommonStockSharesAuthorized

58000000

shares

CY2019Q4

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Common Stock Shares Authorized

CommonStockSharesAuthorized

58000000

shares

CY2020Q4

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Common Stock Shares Issued

CommonStockSharesIssued

30137141

shares

CY2019Q4

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Common Stock Shares Issued

CommonStockSharesIssued

30137141

shares

CY2020

mho

Homebuildingoperationspercentoftotalrevenue

0.97

Rate

CY2019

mho

Homebuildingoperationspercentoftotalrevenue

0.98

Rate

CY2018

mho

Homebuildingoperationspercentoftotalrevenue

0.98

Rate

CY2020Q4

mho

Value Of Stock Units Awarded Under2009 Ltip Plan

ValueOfStockUnitsAwardedUnder2009LtipPlan

652000

USD

CY2019Q4

mho

Value Of Stock Units Awarded Under2009 Ltip Plan

ValueOfStockUnitsAwardedUnder2009LtipPlan

680000

USD

CY2018Q4

mho

Value Of Stock Units Awarded Under2009 Ltip Plan

ValueOfStockUnitsAwardedUnder2009LtipPlan

651000

USD

CY2020

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Stock Option Plan Expense

StockOptionPlanExpense

400000

USD

CY2019

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Stock Option Plan Expense

StockOptionPlanExpense

200000

USD

CY2018

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Stock Option Plan Expense

StockOptionPlanExpense

200000

USD

CY2020Q4

mho

Stock Units Awarded Under2009 Ltip Plan

StockUnitsAwardedUnder2009LtipPlan

24000

shares

CY2019Q4

mho

Stock Units Awarded Under2009 Ltip Plan

StockUnitsAwardedUnder2009LtipPlan

24000

shares

CY2018Q4

mho

Stock Units Awarded Under2009 Ltip Plan

StockUnitsAwardedUnder2009LtipPlan

21000

shares

CY2020Q4

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Deferred Compensation Liability Current And Noncurrent

DeferredCompensationLiabilityCurrentAndNoncurrent

200000

USD

CY2019Q4

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Deferred Compensation Liability Current And Noncurrent

DeferredCompensationLiabilityCurrentAndNoncurrent

200000

USD

CY2018Q4

us-gaap

Deferred Compensation Liability Current And Noncurrent

DeferredCompensationLiabilityCurrentAndNoncurrent

200000

USD

CY2020Q4

mho

Split Dollar Life Insurance Policies

SplitDollarLifeInsurancePolicies

200000

USD

CY2019Q4

mho

Split Dollar Life Insurance Policies

SplitDollarLifeInsurancePolicies

203000

USD

CY2020

mho

Equityin Incomelossfromunconsolidatedjointventures

EquityinIncomelossfromunconsolidatedjointventures

500000

USD

CY2019

mho

Equityin Incomelossfromunconsolidatedjointventures

EquityinIncomelossfromunconsolidatedjointventures

300000

USD

CY2018

mho

Equityin Incomelossfromunconsolidatedjointventures

EquityinIncomelossfromunconsolidatedjointventures

300000

USD

CY2020Q4

mho

Total Of Guaranteed Loans Inquired About

TotalOfGuaranteedLoansInquiredAbout

600000

USD

CY2019Q4

mho

Total Of Guaranteed Loans Inquired About

TotalOfGuaranteedLoansInquiredAbout

600000

USD

CY2020Q4

us-gaap

Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued

UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued

0

USD

CY2019Q4

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Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued

UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued

0

USD

CY2018Q4

us-gaap

Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued

UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued

0

USD

CY2020

dei

Document Type

DocumentType

10-K

CY2020

dei

Document Annual Report

DocumentAnnualReport

true

CY2020

dei

Document Period End Date

DocumentPeriodEndDate

2020-12-31

CY2020

dei

Document Transition Report

DocumentTransitionReport

false

CY2020

dei

Entity File Number

EntityFileNumber

1-12434

CY2020

dei

Entity Registrant Name

EntityRegistrantName

M/I HOMES, INC.

CY2020

dei

Entity Incorporation State Country Code

EntityIncorporationStateCountryCode

OH

CY2020

dei

Entity Tax Identification Number

EntityTaxIdentificationNumber

31-1210837

CY2020

dei

Entity Address Address Line1

EntityAddressAddressLine1

4131 Worth Avenue

CY2020

dei

Entity Address Address Line2

EntityAddressAddressLine2

Suite 500

CY2020

dei

Entity Address City Or Town

EntityAddressCityOrTown

Columbus

CY2020

dei

Entity Address State Or Province

EntityAddressStateOrProvince

OH

CY2020

dei

Entity Address Postal Zip Code

EntityAddressPostalZipCode

43219

CY2020

dei

City Area Code

CityAreaCode

614

CY2020

dei

Local Phone Number

LocalPhoneNumber

418-8000

CY2020

dei

Security12b Title

Security12bTitle

Common Shares, par value $.01

CY2020

dei

Trading Symbol

TradingSymbol

MHO

CY2020

dei

Security Exchange Name

SecurityExchangeName

NYSE

CY2020

dei

Entity Well Known Seasoned Issuer

EntityWellKnownSeasonedIssuer

Yes

CY2020

dei

Entity Voluntary Filers

EntityVoluntaryFilers

No

CY2020

dei

Entity Current Reporting Status

EntityCurrentReportingStatus

Yes

CY2020

dei

Entity Interactive Data Current

EntityInteractiveDataCurrent

Yes

CY2020

dei

Entity Filer Category

EntityFilerCategory

Large Accelerated Filer

CY2020

dei

Entity Small Business

EntitySmallBusiness

false

CY2020

dei

Entity Emerging Growth Company

EntityEmergingGrowthCompany

false

CY2020

dei

Entity Shell Company

EntityShellCompany

false

CY2020Q2

dei

Entity Public Float

EntityPublicFloat

961900000

USD

CY2021Q1

dei

Entity Common Stock Shares Outstanding

EntityCommonStockSharesOutstanding

29109685

shares

CY2020

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Revenues

3046145000

USD

CY2019

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Revenues

2500290000

USD

CY2018

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Revenues

2286282000

USD

CY2020

us-gaap

Cost Of Goods And Services Sold

CostOfGoodsAndServicesSold

2361367000

USD

CY2019

us-gaap

Cost Of Goods And Services Sold

CostOfGoodsAndServicesSold

2005861000

USD

CY2018

us-gaap

Cost Of Goods And Services Sold

CostOfGoodsAndServicesSold

1836704000

USD

CY2020

us-gaap

Impairment Of Real Estate

ImpairmentOfRealEstate

8435000

USD

CY2019

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Impairment Of Real Estate

ImpairmentOfRealEstate

5002000

USD

CY2018

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Impairment Of Real Estate

ImpairmentOfRealEstate

5809000

USD

CY2020

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General And Administrative Expense

GeneralAndAdministrativeExpense

177547000

USD

CY2019

us-gaap

General And Administrative Expense

GeneralAndAdministrativeExpense

147954000

USD

CY2018

us-gaap

General And Administrative Expense

GeneralAndAdministrativeExpense

137779000

USD

CY2020

us-gaap

Selling Expense

SellingExpense

179535000

USD

CY2019

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Selling Expense

SellingExpense

154384000

USD

CY2018

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Selling Expense

SellingExpense

142829000

USD

CY2020

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Business Combination Acquisition Related Costs

BusinessCombinationAcquisitionRelatedCosts

0

USD

CY2019

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Business Combination Acquisition Related Costs

BusinessCombinationAcquisitionRelatedCosts

0

USD

CY2018

us-gaap

Business Combination Acquisition Related Costs

BusinessCombinationAcquisitionRelatedCosts

1700000

USD

CY2020

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Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

466000

USD

CY2019

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

311000

USD

CY2018

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

312000

USD

CY2020

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Interest Expense

InterestExpense

9684000

USD

CY2019

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Interest Expense

InterestExpense

21375000

USD

CY2018

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Interest Expense

InterestExpense

20484000

USD

CY2020

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Costs And Expenses

CostsAndExpenses

2736102000

USD

CY2019

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Costs And Expenses

CostsAndExpenses

2334265000

USD

CY2018

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Costs And Expenses

CostsAndExpenses

2144993000

USD

CY2020

us-gaap

Income Loss From Continuing Operations Before Income Taxes Domestic

IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic

310043000

USD

CY2019

us-gaap

Income Loss From Continuing Operations Before Income Taxes Domestic

IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic

166025000

USD

CY2018

us-gaap

Income Loss From Continuing Operations Before Income Taxes Domestic

IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic

141289000

USD

CY2020

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

70169000

USD

CY2019

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

38438000

USD

CY2018

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

33626000

USD

CY2020

us-gaap

Net Income Loss

NetIncomeLoss

239874000

USD

CY2019

us-gaap

Net Income Loss

NetIncomeLoss

127587000

USD

CY2018

us-gaap

Net Income Loss

NetIncomeLoss

107663000

USD

CY2020

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

8.38

CY2019

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

4.58

CY2018

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

3.81

CY2020

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

8.23

CY2019

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

4.48

CY2018

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

3.70

CY2020

us-gaap

Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

28610000

shares

CY2019

us-gaap

Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

27846000

shares

CY2018

us-gaap

Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

28234000

shares

CY2020

us-gaap

Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

29152000

shares

CY2019

us-gaap

Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

28475000

shares

CY2018

us-gaap

Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

29178000

shares

CY2020Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

260810000

USD

CY2019Q4

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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

6083000

USD

CY2020Q4

us-gaap

Loans Receivable Held For Sale Net Not Part Of Disposal Group

LoansReceivableHeldForSaleNetNotPartOfDisposalGroup

234293000

USD

CY2019Q4

us-gaap

Loans Receivable Held For Sale Net Not Part Of Disposal Group

LoansReceivableHeldForSaleNetNotPartOfDisposalGroup

155244000

USD

CY2020Q4

us-gaap

Inventory Real Estate

InventoryRealEstate

1916608000

USD

CY2019Q4

us-gaap

Inventory Real Estate

InventoryRealEstate

1769507000

USD

CY2020Q4

us-gaap

Property Plant And Equipment Net

PropertyPlantAndEquipmentNet

26612000

USD

CY2019Q4

us-gaap

Property Plant And Equipment Net

PropertyPlantAndEquipmentNet

22118000

USD

CY2020Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

34673000

USD

CY2019Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

37885000

USD

CY2020Q4

us-gaap

Operating Lease Right Of Use Asset

OperatingLeaseRightOfUseAsset

52291000

USD

CY2019Q4

us-gaap

Operating Lease Right Of Use Asset

OperatingLeaseRightOfUseAsset

18415000

USD

CY2020Q4

us-gaap

Deferred Income Tax Assets Net

DeferredIncomeTaxAssetsNet

6183000

USD

CY2019Q4

us-gaap

Deferred Income Tax Assets Net

DeferredIncomeTaxAssetsNet

9631000

USD

CY2020Q4

us-gaap

Goodwill

16400000

USD

CY2019Q4

us-gaap

Goodwill

16400000

USD

CY2020Q4

us-gaap

Other Assets

OtherAssets

95175000

USD

CY2019Q4

us-gaap

Other Assets

OtherAssets

70311000

USD

CY2020Q4

us-gaap

Assets

2643045000

USD

CY2019Q4

us-gaap

Assets

2105594000

USD

CY2020Q4

us-gaap

Accounts Payable Current And Noncurrent

AccountsPayableCurrentAndNoncurrent

185669000

USD

CY2019Q4

us-gaap

Accounts Payable Current And Noncurrent

AccountsPayableCurrentAndNoncurrent

125026000

USD

CY2020Q4

us-gaap

Customer Advances And Deposits

CustomerAdvancesAndDeposits

72635000

USD

CY2019Q4

us-gaap

Customer Advances And Deposits

CustomerAdvancesAndDeposits

34462000

USD

CY2020Q4

us-gaap

Operating Lease Liability

OperatingLeaseLiability

52474000

USD

CY2019Q4

us-gaap

Operating Lease Liability

OperatingLeaseLiability

18415000

USD

CY2020Q4

us-gaap

Other Liabilities

OtherLiabilities

183583000

USD

CY2019Q4

us-gaap

Other Liabilities

OtherLiabilities

147937000

USD

CY2020Q4

us-gaap

Special Assessment Bond Noncurrent

SpecialAssessmentBondNoncurrent

8196000

USD

CY2019Q4

us-gaap

Special Assessment Bond Noncurrent

SpecialAssessmentBondNoncurrent

13531000

USD

CY2020Q4

mho

Obligation For Consolidated Inventory Not Owned

ObligationForConsolidatedInventoryNotOwned

9914000

USD

CY2019Q4

mho

Obligation For Consolidated Inventory Not Owned

ObligationForConsolidatedInventoryNotOwned

7934000

USD

CY2020Q4

us-gaap

Line Of Credit

LineOfCredit

0

USD

CY2019Q4

us-gaap

Line Of Credit

LineOfCredit

66000000

USD

CY2020Q4

us-gaap

Warehouse Agreement Borrowings

WarehouseAgreementBorrowings

225634000

USD

CY2019Q4

us-gaap

Warehouse Agreement Borrowings

WarehouseAgreementBorrowings

136904000

USD

CY2020Q4

us-gaap

Other Notes Payable

OtherNotesPayable

4072000

USD

CY2019Q4

us-gaap

Other Notes Payable

OtherNotesPayable

5828000

USD

CY2020Q4

mho

Seniornotesdue2021

0

USD

CY2019Q4

mho

Seniornotesdue2021

298988000

USD

CY2020Q4

mho

Seniornotesdue2025

247613000

USD

CY2019Q4

mho

Seniornotesdue2025

247092000

USD

CY2020Q4

mho

Senior Notes Due2028

SeniorNotesDue2028

394557000

USD

CY2019Q4

mho

Senior Notes Due2028

SeniorNotesDue2028

0

USD

CY2020Q4

us-gaap

Liabilities

1384347000

USD

CY2019Q4

us-gaap

Liabilities

1102117000

USD

CY2020Q4

us-gaap

Commitments And Contingencies

CommitmentsAndContingencies

0

USD

CY2019Q4

us-gaap

Commitments And Contingencies

CommitmentsAndContingencies

0

USD

CY2020Q4

us-gaap

Common Stock Par Or Stated Value Per Share

CommonStockParOrStatedValuePerShare

0.01

CY2020Q4

us-gaap

Common Stock Shares Authorized

CommonStockSharesAuthorized

58000000

shares

CY2018

us-gaap

Profit Loss

ProfitLoss

107663000

USD

CY2020Q4

us-gaap

Common Stock Shares Issued

CommonStockSharesIssued

30137141

shares

CY2020Q4

us-gaap

Common Stock Value

CommonStockValue

301000

USD

CY2019Q4

us-gaap

Common Stock Value

CommonStockValue

301000

USD

CY2020Q4

us-gaap

Additional Paid In Capital Common Stock

AdditionalPaidInCapitalCommonStock

339001000

USD

CY2019Q4

us-gaap

Additional Paid In Capital Common Stock

AdditionalPaidInCapitalCommonStock

332861000

USD

CY2020Q4

us-gaap

Retained Earnings Accumulated Deficit

RetainedEarningsAccumulatedDeficit

948453000

USD

CY2019Q4

us-gaap

Retained Earnings Accumulated Deficit

RetainedEarningsAccumulatedDeficit

708579000

USD

CY2020Q4

us-gaap

Treasury Stock Shares

TreasuryStockShares

1323292

shares

CY2019Q4

us-gaap

Treasury Stock Shares

TreasuryStockShares

1750685

shares

CY2020Q4

us-gaap

Treasury Stock Value

TreasuryStockValue

29057000

USD

CY2019Q4

us-gaap

Treasury Stock Value

TreasuryStockValue

38264000

USD

CY2020Q4

us-gaap

Stockholders Equity

StockholdersEquity

1258698000

USD

CY2019Q4

us-gaap

Stockholders Equity

StockholdersEquity

1003477000

USD

CY2020Q4

us-gaap

Liabilities And Stockholders Equity

LiabilitiesAndStockholdersEquity

2643045000

USD

CY2019Q4

us-gaap

Liabilities And Stockholders Equity

LiabilitiesAndStockholdersEquity

2105594000

USD

CY2017Q4

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Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

747298000

USD

CY2018

us-gaap

Proceeds From Issuance Of Common Stock

ProceedsFromIssuanceOfCommonStock

20309000

USD

CY2018

us-gaap

Treasury Stock Value Acquired Cost Method

TreasuryStockValueAcquiredCostMethod

25709000

USD

CY2018

us-gaap

Stock Issued During Period Value Stock Options Exercised

StockIssuedDuringPeriodValueStockOptionsExercised

538000

USD

CY2018

us-gaap

Share Based Compensation

ShareBasedCompensation

5974000

USD

CY2018

us-gaap

Deferred Compensation Arrangement With Individual Contributions By Employer

DeferredCompensationArrangementWithIndividualContributionsByEmployer

185000

USD

CY2018

us-gaap

Deferred Compensation Arrangement With Individual Distribution Paid

DeferredCompensationArrangementWithIndividualDistributionPaid

955000

USD

CY2018Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

855303000

USD

CY2019

us-gaap

Profit Loss

ProfitLoss

127587000

USD

CY2019

us-gaap

Treasury Stock Value Acquired Cost Method

TreasuryStockValueAcquiredCostMethod

5150000

USD

CY2019

us-gaap

Stock Issued During Period Value Stock Options Exercised

StockIssuedDuringPeriodValueStockOptionsExercised

19644000

USD

CY2019

us-gaap

Share Based Compensation

ShareBasedCompensation

5846000

USD

CY2019

us-gaap

Deferred Compensation Arrangement With Individual Contributions By Employer

DeferredCompensationArrangementWithIndividualContributionsByEmployer

247000

USD

CY2019

us-gaap

Deferred Compensation Arrangement With Individual Distribution Paid

DeferredCompensationArrangementWithIndividualDistributionPaid

0

USD

CY2019Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

1003477000

USD

CY2020

us-gaap

Profit Loss

ProfitLoss

239874000

USD

CY2020

us-gaap

Treasury Stock Value Acquired Cost Method

TreasuryStockValueAcquiredCostMethod

1912000

USD

CY2020

us-gaap

Stock Issued During Period Value Stock Options Exercised

StockIssuedDuringPeriodValueStockOptionsExercised

9906000

USD

CY2020

us-gaap

Share Based Compensation

ShareBasedCompensation

7138000

USD

CY2020

us-gaap

Deferred Compensation Arrangement With Individual Contributions By Employer

DeferredCompensationArrangementWithIndividualContributionsByEmployer

215000

USD

CY2020

us-gaap

Deferred Compensation Arrangement With Individual Distribution Paid

DeferredCompensationArrangementWithIndividualDistributionPaid

0

USD

CY2020Q4

us-gaap

Stockholders Equity Including Portion Attributable To Noncontrolling Interest

StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

1258698000

USD

CY2020

us-gaap

Net Income Loss

NetIncomeLoss

239874000

USD

CY2019

us-gaap

Net Income Loss

NetIncomeLoss

127587000

USD

CY2018

us-gaap

Net Income Loss

NetIncomeLoss

107663000

USD

CY2020

us-gaap

Asset Impairment Charges

AssetImpairmentCharges

8435000

USD

CY2019

us-gaap

Asset Impairment Charges

AssetImpairmentCharges

5002000

USD

CY2018

us-gaap

Asset Impairment Charges

AssetImpairmentCharges

5809000

USD

CY2020

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

466000

USD

CY2019

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

311000

USD

CY2018

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

312000

USD

CY2020

us-gaap

Payments For Origination Of Mortgage Loans Held For Sale

PaymentsForOriginationOfMortgageLoansHeldForSale

1843576000

USD

CY2019

us-gaap

Payments For Origination Of Mortgage Loans Held For Sale

PaymentsForOriginationOfMortgageLoansHeldForSale

1382695000

USD

CY2018

us-gaap

Payments For Origination Of Mortgage Loans Held For Sale

PaymentsForOriginationOfMortgageLoansHeldForSale

1200474000

USD

CY2020

us-gaap

Gain Loss On Sale Of Properties

GainLossOnSaleOfProperties

0

USD

CY2019

us-gaap

Gain Loss On Sale Of Properties

GainLossOnSaleOfProperties

448000

USD

CY2018

us-gaap

Gain Loss On Sale Of Properties

GainLossOnSaleOfProperties

0

USD

CY2020

us-gaap

Proceeds From Sale Of Mortgage Loans Held For Sale

ProceedsFromSaleOfMortgageLoansHeldForSale

1764845000

USD

CY2019

us-gaap

Proceeds From Sale Of Mortgage Loans Held For Sale

ProceedsFromSaleOfMortgageLoansHeldForSale

1394841000

USD

CY2018

us-gaap

Proceeds From Sale Of Mortgage Loans Held For Sale

ProceedsFromSaleOfMortgageLoansHeldForSale

1206167000

USD

CY2020

mho

Fair Value Adjustment Of Mortgage Loans Held For Sale

FairValueAdjustmentOfMortgageLoansHeldForSale

318000

USD

CY2019

mho

Fair Value Adjustment Of Mortgage Loans Held For Sale

FairValueAdjustmentOfMortgageLoansHeldForSale

-2261000

USD

CY2018

mho

Fair Value Adjustment Of Mortgage Loans Held For Sale

FairValueAdjustmentOfMortgageLoansHeldForSale

3764000

USD

CY2020

us-gaap

Payments For Proceeds From Mortgage Servicing Rights

PaymentsForProceedsFromMortgageServicingRights

6048000

USD

CY2019

us-gaap

Payments For Proceeds From Mortgage Servicing Rights

PaymentsForProceedsFromMortgageServicingRights

4684000

USD

CY2018

us-gaap

Payments For Proceeds From Mortgage Servicing Rights

PaymentsForProceedsFromMortgageServicingRights

4550000

USD

CY2020

us-gaap

Amortization Of Mortgage Servicing Rights Ms Rs

AmortizationOfMortgageServicingRightsMSRs

2427000

USD

CY2019

us-gaap

Amortization Of Mortgage Servicing Rights Ms Rs

AmortizationOfMortgageServicingRightsMSRs

1547000

USD

CY2018

us-gaap

Amortization Of Mortgage Servicing Rights Ms Rs

AmortizationOfMortgageServicingRightsMSRs

784000

USD

CY2020

us-gaap

Gain On Sale Of Investments

GainOnSaleOfInvestments

33000

USD

CY2019

us-gaap

Gain On Sale Of Investments

GainOnSaleOfInvestments

0

USD

CY2018

us-gaap

Gain On Sale Of Investments

GainOnSaleOfInvestments

1224000

USD

CY2020

us-gaap

Depreciation

12636000

USD

CY2019

us-gaap

Depreciation

11691000

USD

CY2018

us-gaap

Depreciation

10956000

USD

CY2020

us-gaap

Amortization Of Financing Costs And Discounts

AmortizationOfFinancingCostsAndDiscounts

2515000

USD

CY2019

us-gaap

Amortization Of Financing Costs And Discounts

AmortizationOfFinancingCostsAndDiscounts

2712000

USD

CY2018

us-gaap

Amortization Of Financing Costs And Discounts

AmortizationOfFinancingCostsAndDiscounts

2791000

USD

CY2020

us-gaap

Gains Losses On Extinguishment Of Debt

GainsLossesOnExtinguishmentOfDebt

-950000

USD

CY2019

us-gaap

Gains Losses On Extinguishment Of Debt

GainsLossesOnExtinguishmentOfDebt

0

USD

CY2018

us-gaap

Gains Losses On Extinguishment Of Debt

GainsLossesOnExtinguishmentOfDebt

0

USD

CY2020

us-gaap

Share Based Compensation

ShareBasedCompensation

7138000

USD

CY2019

us-gaap

Share Based Compensation

ShareBasedCompensation

5846000

USD

CY2018

us-gaap

Share Based Compensation

ShareBasedCompensation

5974000

USD

CY2020

us-gaap

Increase Decrease In Deferred Income Taxes

IncreaseDecreaseInDeferredIncomeTaxes

-3448000

USD

CY2019

us-gaap

Increase Decrease In Deferred Income Taxes

IncreaseDecreaseInDeferredIncomeTaxes

-3851000

USD

CY2018

us-gaap

Increase Decrease In Deferred Income Taxes

IncreaseDecreaseInDeferredIncomeTaxes

-4957000

USD

CY2020

us-gaap

Increase Decrease In Inventories

IncreaseDecreaseInInventories

134941000

USD

CY2019

us-gaap

Increase Decrease In Inventories

IncreaseDecreaseInInventories

88358000

USD

CY2018

us-gaap

Increase Decrease In Inventories

IncreaseDecreaseInInventories

157573000

USD

CY2020

us-gaap

Increase Decrease In Other Operating Assets

IncreaseDecreaseInOtherOperatingAssets

17253000

USD

CY2019

us-gaap

Increase Decrease In Other Operating Assets

IncreaseDecreaseInOtherOperatingAssets

2072000

USD

CY2018

us-gaap

Increase Decrease In Other Operating Assets

IncreaseDecreaseInOtherOperatingAssets

-2044000

USD

CY2020

us-gaap

Increase Decrease In Accounts Payable

IncreaseDecreaseInAccountsPayable

60643000

USD

CY2019

us-gaap

Increase Decrease In Accounts Payable

IncreaseDecreaseInAccountsPayable

-6485000

USD

CY2018

us-gaap

Increase Decrease In Accounts Payable

IncreaseDecreaseInAccountsPayable

3750000

USD

CY2020

us-gaap

Increase Decrease In Customer Deposits

IncreaseDecreaseInCustomerDeposits

38173000

USD

CY2019

us-gaap

Increase Decrease In Customer Deposits

IncreaseDecreaseInCustomerDeposits

2407000

USD

CY2018

us-gaap

Increase Decrease In Customer Deposits

IncreaseDecreaseInCustomerDeposits

1521000

USD

CY2020

us-gaap

Increase Decrease In Accrued Salaries

IncreaseDecreaseInAccruedSalaries

9420000

USD

CY2019

us-gaap

Increase Decrease In Accrued Salaries

IncreaseDecreaseInAccruedSalaries

3944000

USD

CY2018

us-gaap

Increase Decrease In Accrued Salaries

IncreaseDecreaseInAccruedSalaries

3486000

USD

CY2020

us-gaap

Increase Decrease In Other Operating Liabilities

IncreaseDecreaseInOtherOperatingLiabilities

20465000

USD

CY2019

us-gaap

Increase Decrease In Other Operating Liabilities

IncreaseDecreaseInOtherOperatingLiabilities

-11005000

USD

CY2018

us-gaap

Increase Decrease In Other Operating Liabilities

IncreaseDecreaseInOtherOperatingLiabilities

9403000

USD

CY2020

us-gaap

Net Cash Provided By Used In Operating Activities

NetCashProvidedByUsedInOperatingActivities

168334000

USD

CY2019

us-gaap

Net Cash Provided By Used In Operating Activities

NetCashProvidedByUsedInOperatingActivities

65631000

USD

CY2018

us-gaap

Net Cash Provided By Used In Operating Activities

NetCashProvidedByUsedInOperatingActivities

-2592000

USD

CY2020

us-gaap

Payments To Acquire Property Plant And Equipment

PaymentsToAcquirePropertyPlantAndEquipment

11677000

USD

CY2019

us-gaap

Payments To Acquire Property Plant And Equipment

PaymentsToAcquirePropertyPlantAndEquipment

4526000

USD

CY2018

us-gaap

Payments To Acquire Property Plant And Equipment

PaymentsToAcquirePropertyPlantAndEquipment

8141000

USD

CY2020

us-gaap

Payments To Acquire Businesses Gross

PaymentsToAcquireBusinessesGross

0

USD

CY2019

us-gaap

Payments To Acquire Businesses Gross

PaymentsToAcquireBusinessesGross

0

USD

CY2018

us-gaap

Payments To Acquire Businesses Gross

PaymentsToAcquireBusinessesGross

100960000

USD

CY2020

us-gaap

Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital

ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital

2477000

USD

CY2019

us-gaap

Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital

ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital

812000

USD

CY2018

us-gaap

Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital

ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital

676000

USD

CY2020

us-gaap

Payments To Acquire Interest In Subsidiaries And Affiliates

PaymentsToAcquireInterestInSubsidiariesAndAffiliates

28539000

USD

CY2019

us-gaap

Payments To Acquire Interest In Subsidiaries And Affiliates

PaymentsToAcquireInterestInSubsidiariesAndAffiliates

30188000

USD

CY2018

us-gaap

Payments To Acquire Interest In Subsidiaries And Affiliates

PaymentsToAcquireInterestInSubsidiariesAndAffiliates

31867000

USD

CY2020

us-gaap

Proceeds From Sale Of Mortgage Servicing Rights Msr

ProceedsFromSaleOfMortgageServicingRightsMSR

3869000

USD

CY2019

us-gaap

Proceeds From Sale Of Mortgage Servicing Rights Msr

ProceedsFromSaleOfMortgageServicingRightsMSR

0

USD

CY2018

us-gaap

Proceeds From Sale Of Mortgage Servicing Rights Msr

ProceedsFromSaleOfMortgageServicingRightsMSR

6335000

USD

CY2020

us-gaap

Proceeds From Sale Of Property Held For Sale

ProceedsFromSaleOfPropertyHeldForSale

0

USD

CY2019

us-gaap

Proceeds From Sale Of Property Held For Sale

ProceedsFromSaleOfPropertyHeldForSale

6308000

USD

CY2018

us-gaap

Proceeds From Sale Of Property Held For Sale

ProceedsFromSaleOfPropertyHeldForSale

0

USD

CY2020

us-gaap

Net Cash Provided By Used In Investing Activities

NetCashProvidedByUsedInInvestingActivities

-33870000

USD

CY2019

us-gaap

Net Cash Provided By Used In Investing Activities

NetCashProvidedByUsedInInvestingActivities

-27594000

USD

CY2018

us-gaap

Net Cash Provided By Used In Investing Activities

NetCashProvidedByUsedInInvestingActivities

-133957000

USD

CY2020

us-gaap

Repayments Of Other Debt

RepaymentsOfOtherDebt

300000000

USD

CY2019

us-gaap

Repayments Of Other Debt

RepaymentsOfOtherDebt

0

USD

CY2018

us-gaap

Repayments Of Other Debt

RepaymentsOfOtherDebt

0

USD

CY2020

us-gaap

Proceeds From Other Debt

ProceedsFromOtherDebt

400000000

USD

CY2019

us-gaap

Proceeds From Other Debt

ProceedsFromOtherDebt

0

USD

CY2018

us-gaap

Proceeds From Other Debt

ProceedsFromOtherDebt

0

USD

CY2020

us-gaap

Proceeds From Convertible Debt

ProceedsFromConvertibleDebt

0

USD

CY2019

us-gaap

Proceeds From Convertible Debt

ProceedsFromConvertibleDebt

0

USD

CY2018

us-gaap

Proceeds From Convertible Debt

ProceedsFromConvertibleDebt

-65941000

USD

CY2020

us-gaap

Proceeds From Bank Debt

ProceedsFromBankDebt

306800000

USD

CY2019

us-gaap

Proceeds From Bank Debt

ProceedsFromBankDebt

696500000

USD

CY2018

us-gaap

Proceeds From Bank Debt

ProceedsFromBankDebt

666600000

USD

CY2019

us-gaap

Proceeds From Stock Options Exercised

ProceedsFromStockOptionsExercised

19644000

USD

CY2018

us-gaap

Proceeds From Stock Options Exercised

ProceedsFromStockOptionsExercised

538000

USD

CY2020

us-gaap

Repayments Of Bank Debt

RepaymentsOfBankDebt

372800000

USD

CY2019

us-gaap

Repayments Of Bank Debt

RepaymentsOfBankDebt

747900000

USD

CY2018

us-gaap

Repayments Of Bank Debt

RepaymentsOfBankDebt

549200000

USD

CY2020

us-gaap

Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less

ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess

88730000

USD

CY2019

us-gaap

Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less

ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess

-16264000

USD

CY2018

us-gaap

Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less

ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess

-15027000

USD

CY2020

us-gaap

Proceeds From Repayments Of Other Debt

ProceedsFromRepaymentsOfOtherDebt

-1756000

USD

CY2019

us-gaap

Proceeds From Repayments Of Other Debt

ProceedsFromRepaymentsOfOtherDebt

-110000

USD

CY2018

us-gaap

Proceeds From Repayments Of Other Debt

ProceedsFromRepaymentsOfOtherDebt

-4638000

USD

CY2020

us-gaap

Payments For Repurchase Of Common Stock

PaymentsForRepurchaseOfCommonStock

1912000

USD

CY2019

us-gaap

Payments For Repurchase Of Common Stock

PaymentsForRepurchaseOfCommonStock

5150000

USD

CY2018

us-gaap

Payments For Repurchase Of Common Stock

PaymentsForRepurchaseOfCommonStock

25709000

USD

CY2020

us-gaap

Payments Of Debt Issuance Costs

PaymentsOfDebtIssuanceCosts

8705000

USD

CY2019

us-gaap

Payments Of Debt Issuance Costs

PaymentsOfDebtIssuanceCosts

203000

USD

CY2018

us-gaap

Payments Of Debt Issuance Costs

PaymentsOfDebtIssuanceCosts

248000

USD

CY2020

us-gaap

Proceeds From Stock Options Exercised

ProceedsFromStockOptionsExercised

9906000

USD

CY2020

us-gaap

Net Cash Provided By Used In Financing Activities

NetCashProvidedByUsedInFinancingActivities

120263000

USD

CY2019

us-gaap

Net Cash Provided By Used In Financing Activities

NetCashProvidedByUsedInFinancingActivities

-53483000

USD

CY2018

us-gaap

Net Cash Provided By Used In Financing Activities

NetCashProvidedByUsedInFinancingActivities

6375000

USD

CY2020

us-gaap

Cash And Cash Equivalents Period Increase Decrease

CashAndCashEquivalentsPeriodIncreaseDecrease

254727000

USD

CY2019

us-gaap

Cash And Cash Equivalents Period Increase Decrease

CashAndCashEquivalentsPeriodIncreaseDecrease

-15446000

USD

CY2018

us-gaap

Cash And Cash Equivalents Period Increase Decrease

CashAndCashEquivalentsPeriodIncreaseDecrease

-130174000

USD

CY2019Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

6083000

USD

CY2018Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

21529000

USD

CY2017Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

151703000

USD

CY2020Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

260810000

USD

CY2019Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

6083000

USD

CY2018Q4

us-gaap

Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents

CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

21529000

USD

CY2020

us-gaap

Interest Paid Net

InterestPaidNet

7811000

USD

CY2019

us-gaap

Interest Paid Net

InterestPaidNet

18962000

USD

CY2018

us-gaap

Interest Paid Net

InterestPaidNet

17793000

USD

CY2020

us-gaap

Income Taxes Paid Net

IncomeTaxesPaidNet

63666000

USD

CY2019

us-gaap

Income Taxes Paid Net

IncomeTaxesPaidNet

36993000

USD

CY2018

us-gaap

Income Taxes Paid Net

IncomeTaxesPaidNet

25279000

USD

CY2020

mho

Community Development District Infrastructure

CommunityDevelopmentDistrictInfrastructure

-5335000

USD

CY2019

mho

Community Development District Infrastructure

CommunityDevelopmentDistrictInfrastructure

1139000

USD

CY2018

mho

Community Development District Infrastructure

CommunityDevelopmentDistrictInfrastructure

-657000

USD

CY2020

mho

Consolidated Inventory Not Owned Obligation

ConsolidatedInventoryNotOwnedObligation

1980000

USD

CY2019

mho

Consolidated Inventory Not Owned Obligation

ConsolidatedInventoryNotOwnedObligation

-11374000

USD

CY2018

mho

Consolidated Inventory Not Owned Obligation

ConsolidatedInventoryNotOwnedObligation

-2237000

USD

CY2020

mho

Distribution Of Single Family Lots From Unconsolidated Llcs

DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs

29740000

USD

CY2019

mho

Distribution Of Single Family Lots From Unconsolidated Llcs

DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs

27672000

USD

CY2018

mho

Distribution Of Single Family Lots From Unconsolidated Llcs

DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs

16158000

USD

CY2020

us-gaap

Proceeds From Repurchase Of Equity

ProceedsFromRepurchaseOfEquity

0

USD

CY2019

us-gaap

Proceeds From Repurchase Of Equity

ProceedsFromRepurchaseOfEquity

0

USD

CY2018

us-gaap

Proceeds From Repurchase Of Equity

ProceedsFromRepurchaseOfEquity

20309000

USD

CY2020

us-gaap

Basis Of Accounting

BasisOfAccounting

Summary of Significant Accounting Policies<div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> M/I Homes, Inc. and its subsidiaries (the “Company” or “we”) is engaged primarily in the construction and sale of single-family residential homes in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Orlando and Sarasota, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; and Charlotte and Raleigh, North Carolina. The Company designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction. The Company also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others. Our homebuilding operations operate across two geographic regions in the United States. Within these regions, our operations have similar economic characteristics; therefore, they have been aggregated into two reportable homebuilding segments: Southern homebuilding and Northern homebuilding.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company conducts mortgage financing activities through its 100%-owned subsidiary, M/I Financial, LLC (“M/I Financial”), which originates mortgage loans primarily for purchasers of the Company’s homes. The loans and the servicing rights are generally sold to outside mortgage lenders. The Company and M/I Financial also operate 100%-owned subsidiaries that provide title services to purchasers of the Company’s homes. Our mortgage banking and title service activities have similar economic characteristics; therefore, they have been aggregated into one reportable segment, the financial services segment. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of M/I Homes, Inc. and those of our consolidated subsidiaries, partnerships and other entities in which we have a controlling financial interest, and of variable interest entities in which we are deemed the primary beneficiary. Intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP 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 consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Cash, Cash Equivalents and Restricted Cash.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Cash and cash equivalents are liquid investments with an initial maturity of three months or less. Amounts in transit from title companies for homes delivered are included in this balance at December 31, 2020 and 2019, respectively. Restricted cash consists of cash held in escrow. Cash, Cash Equivalents and Restricted Cash includes restricted cash balances of $0.1 million and $0.2 million at December 31, 2020 and 2019, respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Mortgage Loans Held for Sale.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Mortgage loans held for sale consists primarily of single-family residential loans collateralized by the underlying property. Generally, all of the mortgage loans and related servicing rights are sold to third-party investors shortly after origination. Refer to the Revenue Recognition policy described below for additional discussion.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Inventory.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. Land acquisition, land development and common costs (both incurred and estimated to be incurred) are typically allocated to individual lots based on the total number of lots expected to be closed in each community or phase, or based on the relative fair value, the relative sales value or the front footage method of each lot. Any changes to the estimated total development costs of a community or phase are allocated proportionately to homes remaining in the community or phase and homes previously closed. The cost of individual lots is transferred to homes under construction when home construction begins. Home construction costs are accumulated on a specific identification basis. Costs of home deliveries include the specific construction cost of the home and the allocated lot costs. Such costs are charged to cost of sales simultaneously with revenue recognition, as discussed above. When a home is closed, we typically have not yet paid all incurred costs necessary to complete the home. As homes close, we compare the home construction budget to actual recorded costs to date to estimate the additional costs to be incurred from our subcontractors related to the home. We record a liability and a corresponding charge to cost of sales for the amount we estimate will ultimately be paid related to that home. We monitor the accuracy of such estimates by comparing actual costs incurred in subsequent months to the estimate, although actual costs to complete a home in the future could differ from our estimates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventory is recorded at cost, unless events and circumstances indicate that the carrying value of the inventory is impaired, at which point the inventory is written down to fair value as required by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property, Plant and Equipment </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 360”). The Company assesses </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">inventory for recoverability on a quarterly basis to determine if events or changes in local or national economic conditions indicate that the carrying amount of an asset may not be recoverable. In conducting our quarterly review for indicators of impairment on a community level, we evaluate, among other things, the margins on sales contracts in backlog, the margins on homes that have been delivered, expected changes in margins with regard to future home sales over the life of the community, expected changes in margins with regard to future land sales, the value of the land itself as well as any results from third party appraisals. We pay particular attention to communities in which inventory is moving at a slower than anticipated absorption pace, and communities whose average sales price and/or margins are trending downward and are anticipated to continue to trend downward. We also evaluate communities where management intends to lower the sales price or offer incentives in order to improve absorptions even if the community’s historical results do not indicate a potential for impairment. From the review of all of these factors, we identify communities whose carrying values may exceed their estimated undiscounted future cash flows and run a test for recoverability. For those communities whose carrying values exceed the estimated undiscounted future cash flows and which are deemed to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the communities exceeds the estimated fair value. Due to the fact that the Company’s cash flow models and estimates of fair values are based upon management estimates and assumptions, unexpected changes in market conditions and/or changes in management’s intentions with respect to the inventory may lead the Company to incur additional impairment charges in the future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our determination of fair value is based on projections and estimates, which are Level 3 measurement inputs. Because each inventory asset is unique, there are numerous inputs and assumptions used in our valuation techniques, including estimated average selling price, construction and development costs, absorption pace (reflecting any product mix change strategies implemented or to be implemented), selling strategies, alternative land uses (including disposition of all or a portion of the land owned), or discount rates, which could materially impact future cash flow and fair value estimates. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2020, our projections generally assume a gradual improvement in market conditions over time. If communities are not recoverable based on estimated future undiscounted cash flows, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. The fair value of a community is estimated by discounting management’s cash flow projections using an appropriate risk-adjusted interest rate. As of both December 31, 2020 and December 31, 2019, we utilized discount rates ranging from 13% to 16% in our valuations. The discount rate used in determining each asset’s estimated fair value reflects the inherent risks associated with the related estimated cash flow stream, as well as current risk-free rates available in the market and estimated market risk premiums. For example, construction in progress inventory, which is closer to completion, will generally require a lower discount rate than land under development in communities consisting of multiple phases spanning several years of development.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our quarterly assessments reflect management’s best estimates. Due to the inherent uncertainties in management’s estimates and uncertainties related to our operations and our industry as a whole, we are unable to determine at this time if and to what extent continuing future impairments will occur. Additionally, due to the volume of possible outcomes that can be generated from changes in the various model inputs for each community, we do not believe it is possible to create a sensitivity analysis that can provide meaningful information for the users of our consolidated financial statements. Further details relating to our assessment of inventory for recoverability are included in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_103" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Property and Equipment-net.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company records property and equipment at cost and subsequently depreciates the assets using both straight-line and accelerated methods. Following are the major classes of depreciable assets and their estimated useful lives:</span></div><div style="margin-bottom:10pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:75.946%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.700%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.428%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Office furnishings, leasehold improvements, computer equipment and computer software</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,567</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,207 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transportation and construction equipment</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,045</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,061 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property and equipment</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">47,612</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,268 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accumulated depreciation</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21,000)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16,150)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property and equipment, net</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,612</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,118 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.677%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.123%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Estimated Useful Lives</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Office furnishings, leasehold improvements, computer equipment and computer software</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3-7 years</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transportation and construction equipment</span></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5-25 years</span></td></tr></table></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation expense was $6.8 million, $5.9 million and $5.6 million in 2020, 2019 and 2018, respectively.</span></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Goodwill.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired and liabilities assumed in business combinations. As a result of the Company’s acquisition of the homebuilding assets and operations of Pinnacle Homes in Detroit, Michigan on March 1, 2018, the Company recorded goodwill of $16.4 million, which is included as Goodwill in our Consolidated Balance Sheets. This amount was based on the estimated fair values of the acquired assets and assumed liabilities at the date of the acquisition in accordance with ASC 350,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Intangibles, Goodwill and Other </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 350”). The Company performed its annual goodwill impairment analysis during the fourth quarter of 2020, and no impairment was recorded at December 31, 2020. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_154" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 12</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to the Company’s Consolidated Financial Statements for further discussion.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Assets.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Other assets at December 31, 2020 and 2019 consisted of the following:</span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.408%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Development reimbursement receivable from local municipalities</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,237</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,083 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mortgage servicing rights</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,237</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,614 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid expenses</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,918</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,841 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepaid acquisition costs</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,092</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,688 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,691</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,085 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total other assets</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95,175</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70,311 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Warranty Reserves. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> We use subcontractors for nearly all aspects of home construction. Although our subcontractors are generally required to repair and replace any product or labor defects, we are, during applicable warranty periods, ultimately responsible to the homeowner for making such repairs. As such, we record warranty reserves to cover our exposure to the costs for materials and labor not expected to be covered by our subcontractors to the extent they relate to warranty-type claims. Warranty reserves are established by charging cost of sales and crediting a warranty reserve for each home delivered. The amounts charged are estimated by management to be adequate to cover expected warranty-related costs under the Company’s warranty programs. Warranty reserves are recorded for warranties under our Home Builder’s Limited Warranty (“HBLW”) and our transferable structural warranty (see additional information in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_133" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 8</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The warranty reserves for the HBLW are established as a percentage of average sales price and adjusted based on historical payment patterns determined, generally, by geographic area and recent trends. Factors that are given consideration in determining the HBLW reserves include: (1) the historical range of amounts paid per average sales price on a home; (2) type and mix of amenity packages added to the home; (3) any warranty expenditures not considered to be normal and recurring; (4) timing of payments; (5) improvements in quality of construction expected to impact future warranty expenditures; and (6) conditions that may affect certain projects and require a different percentage of average sales price for those specific projects. Changes in estimates for warranties occur due to changes in the historical payment experience and differences between the actual payment pattern experienced during the period and the historical payment pattern used in our evaluation of the warranty reserve balance at the end of each quarter. Actual future warranty costs could differ from our current estimated amount.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our warranty reserves for our transferable structural warranty programs are established on a per-unit basis. While the structural warranty reserve is recorded as each house is delivered, the sufficiency of the structural warranty per unit charge and total reserve is re-evaluated on an annual basis, with the assistance of an actuary, using our own historical data and trends, industry-wide historical data and trends, and other project specific factors. The reserves are also evaluated quarterly and adjusted if we encounter activity that is inconsistent with the historical experience used in the annual analysis. These reserves are subject to variability due to uncertainties regarding structural defect claims for products we build, the markets in which we build, claim settlement history, insurance and legal interpretations, among other factors.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our warranty reserve amounts are based upon historical experience and geographic location. While we believe that our warranty reserves are sufficient to cover our projected costs, there can be no assurances that historical data and trends will accurately predict our actual warranty costs. At December 31, 2020 and 2019, warranty reserves of $29.0 million and $26.4 million, respectively, are included in Other Liabilities on the Consolidated Balance Sheets. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_133" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 8</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements for additional information related to our warranty reserves, including reserves related to stucco-related repairs in certain of our Florida communities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Self-insurance Reserves.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Self-insurance reserves are made for estimated liabilities associated with employee health care, workers’ compensation, and general liability insurance. Our workers’ compensation claims are insured by a third party. The reserves related to employee health care and workers’ compensation are based on historical experience and open case reserves. Our general liability claims are insured by a third party, subject to a self-insured retention (“SIR”). The Company records a reserve for general liability claims falling below the Company’s SIR. The reserve estimate is based on an actuarial evaluation of our past history of general liability claims, other industry specific factors and specific event analysis. At December 31, 2020 </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and 2019, self-insurance reserves of $2.8 million and $2.7 million, respectively, are included in Other Liabilities on the Consolidated Balance Sheets. The Company recorded expenses totaling $10.1 million, $9.5 million and $9.2 million for all self-insured and general liability claims during the years ended December 31, 2020, 2019 and 2018, respectively.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Liabilities.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Other liabilities at December 31, 2020 and 2019 consisted of the following:</span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.408%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accruals related to land development</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64,580</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48,694 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Warranty</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,012</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,420 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payroll and other benefits</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">44,330</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,125 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45,661</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,698 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total other liabilities</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">183,583</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">147,937 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Revenue and the related profit from the sale of a home and revenue and the related profit from the sale of land to third parties are recognized in the financial statements on the date of closing if delivery has occurred, title has passed to the buyer, all performance obligations (as defined below) have been met, and control of the home or land is transferred to the buyer in an amount that reflects the consideration we expect to be entitled to receive in exchange for the home or land. If not received immediately upon closing, cash proceeds from home closings are held in escrow for the Company’s benefit, typically for up to three days, and are included in Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales incentives vary by type of incentive and by amount on a community-by-community and home-by-home basis. The costs of any sales incentives in the form of free or discounted products and services provided to homebuyers are reflected in Land and housing costs in the Consolidated Statements of Income because such incentives are identified in our home purchase contracts with homebuyers as an intrinsic part of our single performance obligation to deliver and transfer title to their home for the transaction price stated in the contracts. Sales incentives that we may provide in the form of closing cost allowances are recorded as a reduction of housing revenue at the time the home is delivered. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We record sales commissions within Selling expenses in the Consolidated Statements of Income when incurred (i.e., when the home is delivered) as the amortization period is generally one year or less and therefore capitalization is not required as part of the practical expedient for incremental costs of obtaining a contract. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contract liabilities include customer deposits related to sold but undelivered homes. Substantially all of our home sales are scheduled to close and be recorded to revenue within one year from the date of receiving a customer deposit. Contract liabilities expected to be recognized as revenue, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. All of our home purchase contracts have a single performance obligation as the promise to transfer the home is not separately identifiable from other promises in the contract and, therefore, not distinct. Our performance obligation, to deliver the agreed-upon home, is generally satisfied in less than one year from the original contract date. Deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers is not material.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although our third party land sale contracts may include multiple performance obligations, the revenue we expect to recognize in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material. We do not disclose the value of unsatisfied performance obligations for land sale contracts with an original expected duration of one year or less.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or retained and managed under a third party sub-service arrangement. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee (note that guarantees are excluded from the scope of ASC 606). As of December 31, 2020 and 2019, we retained mortgage servicing rights of 5,489 and 3,613 loans, respectively, for a total value of $9.2 million and $9.6 million, respectively. We recognize financial services revenue associated with our title operations as homes are delivered, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is delivered. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents our revenues disaggregated by revenue source:</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:513.00pt"><tr><td style="width:1.0pt"/><td style="width:363.25pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:43.75pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:3.25pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:43.75pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:3.25pt"/><td style="width:1.0pt"/><td style="width:1.0pt"/><td style="width:43.75pt"/><td style="width:1.0pt"/></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"/><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year Ended December 31,</span></td></tr><tr style="height:11pt"><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Dollars in thousands)</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2018</span></div></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:11pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Housing</span></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,939,962</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,420,348 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,217,197 </span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:11pt"><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land sales</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,170</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,619 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,889 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:11pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial services </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(a)</span></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">87,013</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,323 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52,196 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:11pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total revenue</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,046,145</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,500,290 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"/><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,286,282 </span></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%">(a)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;padding-left:9.36pt">Revenues include hedging losses of $19.0 million and $12.1 million for the years ended December 31, 2020 and 2019, respectively, and hedging gains of $3.6 million for the year ended December 31, 2018. Hedging gains (losses) do not represent revenues recognized from contracts with customers.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Refer to</span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_166" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"> Note 15</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for presentation of our revenues disaggregated by geography. As our homebuilding operations accounted for over 97% of our total revenues for the years ended December 31, 2020, 2019 and 2018, with most of those revenues generated from home purchase contracts with customers, we believe the disaggregation of revenues as disclosed above and in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_166" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 15</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> fairly depict how the nature, amount, timing and uncertainty of cash flows are affected by economic factors.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Land and Housing Cost of Sales. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All associated homebuilding costs are charged to cost of sales in the period when the revenues from home deliveries are recognized. Homebuilding costs include: land and land development costs; home construction costs (including an estimate of the costs to complete construction); previously capitalized interest; real estate taxes; indirect costs; and estimated warranty costs. All other costs are expensed as incurred. Sales incentives, including pricing discounts and financing costs paid by the Company, are recorded as a reduction of revenue in the Company’s Consolidated Statements of Income. Sales incentives in the form of options or upgrades are recorded in homebuilding costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company records income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based on future tax consequences attributable to (1) temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and (2) operating loss and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the change is enacted. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC 740-10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASC 740”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> we evaluate the realizability of our deferred tax assets, including the benefit from net operating losses (“NOLs”) and tax credit carryforwards, if any, to determine if a valuation allowance is required based on whether it is more likely than not (a likelihood of more than 50%) that all or any portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income. In determining the future tax consequences of events that have been recognized in the consolidated financial statements or tax returns, judgment is required. This assessment gives appropriate consideration to all positive and negative evidence related to the realization of the deferred tax assets and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, our experience with operating losses and our experience of utilizing tax credit carryforwards and tax planning alternatives. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_160" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 14</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements for more information regarding our deferred tax assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Earnings Per Share.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company computes earnings per share in accordance with ASC 260, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Earnings per Share</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, (“ASC 260”). Basic earnings per share is calculated by dividing income attributable to common shareholders by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to the potential dilution that could occur if securities or contracts to issue our common shares that are dilutive were exercised or converted into common shares or resulted in the issuance of common shares that then shared our earnings. In periods of net losses, no dilution is computed. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic14e145f7bd04b4283dfefb22efe1071_157" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 13</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to our Consolidated Financial Statements for more information regarding our earnings per share calculation.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards and SEC Guidance.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to estimate credit losses. ASU 2016-13 is effective for our fiscal year beginning January 1, 2020. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU No. 2018-19, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements to Topic 326, Financial Instruments-Credit Losses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2018-19”) in November 2018, ASU No. 2019-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2019-04”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in April 2019, and ASU No. 2019-05, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments-Credit Losses (Topic 326) Targeted Transition Relief </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2019-05”) in May 2019. These ASUs do not change the core principle of the guidance in ASU 2016-13. Instead these amendments are intended to clarify and improve operability of certain topics included within the </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">credit losses standard. These ASUs will have the same effective date and transition requirements as ASU 2016-13. Our adoption of ASU 2016-13 on January 1, 2020 did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2018, the FASB issued ASU No. 2018-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2018-13”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ASU 2018-13 modifies the disclosure requirements for fair value measurements and removes the requirement to disclose (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. ASU 2018-13 requires disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For all entities, ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Our adoption of ASU 2018-13 on January 1, 2020 did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Facilitation of the Effects of Reference Rate Reform on Financial Reporting </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective beginning March 12, 2020 and can be applied prospectively through December 31, 2022. Our adoption of this guidance did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the Securities and Exchange Commission (the “SEC”) issued Final Rule Release No. 33-10762, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Disclosures About Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities (“SEC Release No. 33-10762”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which amends the financial disclosure requirements applicable to registered debt offerings that include credit enhancements, such as subsidiary guarantees, in Rule 3-10 of Regulation S-X. The amended rule focuses on providing material, relevant and decision-useful information regarding guarantees and other credit enhancements, while eliminating certain prescriptive requirements. In October 2020, the FASB issued ASU No. 2020-09, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt (Topic 470) - Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762 (“ASU 2020-09”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, to reflect the SEC’s new disclosure rules on guaranteed debt securities offerings adopted by the Company. The new SEC and FASB guidance is effective January 4, 2021 with earlier adoption permitted. The Company early adopted these amendments on December 31, 2020. Accordingly, summarized financial information has been presented only for the issuers and guarantors of the Company's registered securities for the most recent fiscal year and as permitted, this information is included in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.”</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2020, the SEC issued Final Rule Release No.33-10786, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Amendments to Financial Disclosures about Acquired and Disposed Businesses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">SEC Release No. 33-10786”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The rule was effective on January 1, 2021. Our adoption of this rule did not have a material impact on our consolidated financial statements and disclosures.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, the SEC issued Final Rule Release No. 33-10825, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Modernization of Regulation S-K Items 101, 103, and 105 (“SEC Release No. 33-10825”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The rule was effective on November 9, 2020. Our adoption of this rule did not have a material impact on our consolidated financial statements and disclosures. The updated disclosures required by this rule are included in “Item 1. Business”, “Item 2. Risk Factors” and “Item 3. Legal Proceedings.”</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2020, the SEC issued Final Rule Release No. 33-10890, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information (“SEC Release No. 33-10890”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The rule was effective on February 10, 2021. We elected to early adopt Items 301 and 302 of this rule which eliminated the disclosure of certain selected financial data and supplementary financial data, which did not have a material impact on our consolidated financial statements and disclosures. We did not adopt the amendments related to Item 303. The Company is required to adopt those amendments in its Form 10-K for the fiscal year ended December 31, 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Impact of New Accounting Standards.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, the FASB issued ASU No. 2019-12, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ("ASU 2019-12"), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning January 1, 2021. We are currently evaluating the impact the adoption of ASU 2019-12 will have on our Consolidated Financial Statements and disclosures, but we do not expect that adoption will have a material impact on our Consolidated Financial Statements and disclosures. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU No. 2020-03, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Codification Improvements to Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2020-03”). ASU 2020-03 improves and clarifies various financial instruments topics, including the current expected credit losses (CECL) standard issued in 2016 (described above). ASU 2020-03 includes seven different issues that describe the areas of improvement and the related amendments to GAAP that are intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments have different effective dates. We are currently evaluating the effect of adopting this new accounting guidance, but we do not expect that adoption will have a material impact on our Consolidated Financial Statements and disclosures.</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, the FASB issued ASU 2020-06, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt-Debt with Conversion and Other Options</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASU 2020-06”), to address the complexity associated with applying GAAP to certain financial instruments with characteristics of liabilities and equity. The ASU includes amendments to the guidance on convertible instruments and the derivative scope exception for contracts in an entity’s own equity and simplifies the accounting for convertible instruments which include beneficial conversion features or cash conversion features by removing certain separation models in Subtopic 470-20. Additionally, the ASU will require entities to use the “if-converted” method when calculating diluted earnings per share for convertible instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We are currently evaluating the effect of adopting this new accounting guidance, but we do not expect that adoption will have a material impact on our Consolidated Financial Statements and disclosures.</span></div>

CY2020Q4

us-gaap

Restricted Cash And Cash Equivalents

RestrictedCashAndCashEquivalents

100000

USD

CY2019Q4

us-gaap

Restricted Cash And Cash Equivalents

RestrictedCashAndCashEquivalents

200000

USD

CY2020Q4

us-gaap

Property Plant And Equipment Gross

PropertyPlantAndEquipmentGross

47612000

USD

CY2019Q4

us-gaap

Property Plant And Equipment Gross

PropertyPlantAndEquipmentGross

38268000

USD

CY2020Q4

us-gaap

Accumulated Depreciation Depletion And Amortization Property Plant And Equipment

AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment

21000000

USD

CY2019Q4

us-gaap

Accumulated Depreciation Depletion And Amortization Property Plant And Equipment

AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment

16150000

USD

CY2020Q4

us-gaap

Property Plant And Equipment Net

PropertyPlantAndEquipmentNet

26612000

USD

CY2019Q4

us-gaap

Property Plant And Equipment Net

PropertyPlantAndEquipmentNet

22118000

USD

CY2020

us-gaap

Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense

SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense

6800000

USD

CY2019

us-gaap

Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense

SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense

5900000

USD

CY2018

us-gaap

Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense

SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense

5600000

USD

CY2020Q4

us-gaap

Goodwill

16400000

USD

CY2020Q4

us-gaap

Other Receivables

OtherReceivables

22237000

USD

CY2019Q4

us-gaap

Other Receivables

OtherReceivables

16083000

USD

CY2020Q4

us-gaap

Servicing Asset

ServicingAsset

9237000

USD

CY2019Q4

us-gaap

Servicing Asset

ServicingAsset

9614000

USD

CY2020Q4

us-gaap

Prepaid Expense Current And Noncurrent

PrepaidExpenseCurrentAndNoncurrent

15918000

USD

CY2019Q4

us-gaap

Prepaid Expense Current And Noncurrent

PrepaidExpenseCurrentAndNoncurrent

13841000

USD

CY2020Q4

mho

Prepaid Land Acquisition Costs

PrepaidLandAcquisitionCosts

10092000

USD

CY2019Q4

mho

Prepaid Land Acquisition Costs

PrepaidLandAcquisitionCosts

5688000

USD

CY2020Q4

us-gaap

Other Assets Miscellaneous

OtherAssetsMiscellaneous

37691000

USD

CY2019Q4

us-gaap

Other Assets Miscellaneous

OtherAssetsMiscellaneous

25085000

USD

CY2020Q4

us-gaap

Other Assets

OtherAssets

95175000

USD

CY2019Q4

us-gaap

Other Assets

OtherAssets

70311000

USD

CY2020Q4

us-gaap

Standard Product Warranty Accrual

StandardProductWarrantyAccrual

29000000.0

USD

CY2019Q4

us-gaap

Standard Product Warranty Accrual

StandardProductWarrantyAccrual

26400000

USD

CY2020Q4

us-gaap

Self Insurance Reserve

SelfInsuranceReserve

2800000

USD

CY2019Q4

us-gaap

Self Insurance Reserve

SelfInsuranceReserve

2700000

USD

CY2020

us-gaap

General Insurance Expense

GeneralInsuranceExpense

10100000

USD

CY2019

us-gaap

General Insurance Expense

GeneralInsuranceExpense

9500000

USD

CY2018

us-gaap

General Insurance Expense

GeneralInsuranceExpense

9200000

USD

CY2020Q4

mho

Accrualsrelatedtolanddevelopment

64580000

USD

CY2019Q4

mho

Accrualsrelatedtolanddevelopment

48694000

USD

CY2020Q4

us-gaap

Standard Product Warranty Accrual

StandardProductWarrantyAccrual

29012000

USD

CY2019Q4

us-gaap

Standard Product Warranty Accrual

StandardProductWarrantyAccrual

26420000

USD

CY2020Q4

us-gaap

Employee Related Liabilities Current And Noncurrent

EmployeeRelatedLiabilitiesCurrentAndNoncurrent

44330000

USD

CY2019Q4

us-gaap

Employee Related Liabilities Current And Noncurrent

EmployeeRelatedLiabilitiesCurrentAndNoncurrent

35125000

USD

CY2020Q4

us-gaap

Other Accrued Liabilities Current And Noncurrent

OtherAccruedLiabilitiesCurrentAndNoncurrent

45661000

USD

CY2019Q4

us-gaap

Other Accrued Liabilities Current And Noncurrent

OtherAccruedLiabilitiesCurrentAndNoncurrent

37698000

USD

CY2020Q4

us-gaap

Other Liabilities

OtherLiabilities

183583000

USD

CY2019Q4

us-gaap

Other Liabilities

OtherLiabilities

147937000

USD

CY2020Q4

mho

Number Of Loans We Retain Mortgage Servicing Rights On

NumberOfLoansWeRetainMortgageServicingRightsOn

5489

CY2019Q4

mho

Number Of Loans We Retain Mortgage Servicing Rights On

NumberOfLoansWeRetainMortgageServicingRightsOn

3613

CY2020

us-gaap

Revenues

3046145000

USD

CY2019

us-gaap

Revenues

2500290000

USD

CY2018

us-gaap

Revenues

2286282000

USD

CY2020

us-gaap

Gain Loss On Oil And Gas Hedging Activity

GainLossOnOilAndGasHedgingActivity

-19000000.0

USD

CY2019

us-gaap

Gain Loss On Oil And Gas Hedging Activity

GainLossOnOilAndGasHedgingActivity

-12100000

USD

CY2018

us-gaap

Gain Loss On Oil And Gas Hedging Activity

GainLossOnOilAndGasHedgingActivity

3600000

USD

CY2020

mho

Homebuildingoperationspercentoftotalrevenue

0.97

Rate

CY2020

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized

ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized

2250000

shares

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant

ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant

1150810

shares

CY2019Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber

1623720

shares

CY2019Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice

25.30

CY2019

us-gaap

Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2

SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2

P7Y2M19D

CY2019Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue

22836000

USD

CY2020

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross

424500

shares

CY2020

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue

8400000

USD

CY2019

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue

14500000

USD

CY2018

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue

600000

USD

CY2020

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

3900000

USD

CY2019

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

3600000

USD

CY2020

us-gaap

Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price

ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice

42.23

CY2020

us-gaap

Stock Issued During Period Shares Stock Options Exercised

StockIssuedDuringPeriodSharesStockOptionsExercised

422820

shares

CY2020

us-gaap

Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price

ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice

23.43

CY2020

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod

0

shares

CY2020

us-gaap

Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price

ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice

0

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber

1625400

shares

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice

30.21

CY2020

us-gaap

Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2

SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2

P7Y3M10D

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue

22882000

USD

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber

1580805

shares

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice

30.11

CY2020

us-gaap

Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1

SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1

P7Y3M3D

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue

22408000

USD

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber

666100

shares

CY2020Q4

us-gaap

Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price

ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice

23.91

CY2020

us-gaap

Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2

SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2

P5Y10M2D

CY2020Q4

us-gaap

Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1

SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1

13577000

USD

CY2018

us-gaap

Allocated Share Based Compensation Expense

AllocatedShareBasedCompensationExpense

3900000

USD

CY2020Q4

us-gaap

Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized

EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized

9000000.0

USD

CY2020

us-gaap

Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1

EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1

P2Y1M6D

CY2020Q4

mho

Stock Units Awarded Under2009 Ltip Plan

StockUnitsAwardedUnder2009LtipPlan

24000

shares

CY2018Q4

mho

Stock Units Awarded Under2009 Ltip Plan

StockUnitsAwardedUnder2009LtipPlan

21000

shares

CY2020Q4

mho

Value Of Stock Units Awarded Under2009 Ltip Plan

ValueOfStockUnitsAwardedUnder2009LtipPlan

700000

USD

CY2020Q4

mho

Share Based Compensation Arrangement By Share Based Payment Award Units Outstanding

ShareBasedCompensationArrangementByShareBasedPaymentAwardUnitsOutstanding

8059

shares

CY2020Q4

mho

Share Based Compensation Arrangement By Share Based Payment Award Value Of Units Outstanding

ShareBasedCompensationArrangementByShareBasedPaymentAwardValueOfUnitsOutstanding

200000

USD

CY2020Q4

mho

Percentageweightof Ps Usrelatedtoperformancecondition

PercentageweightofPSUsrelatedtoperformancecondition

0.80

Rate

CY2020Q4

mho

Percentageweightof Ps Usrelatedtomarketcondition

PercentageweightofPSUsrelatedtomarketcondition

0.20

Rate

CY2020Q4

us-gaap

Deferred Compensation Liability Current And Noncurrent

DeferredCompensationLiabilityCurrentAndNoncurrent

200000

USD

CY2020

us-gaap

Stock Option Plan Expense

StockOptionPlanExpense

400000

USD

CY2020Q4

mho

Stock Units Outstanding Under Stock Option Plan

StockUnitsOutstandingUnderStockOptionPlan

50579

shares

CY2020Q4

mho

Total Value Of Units Outstanding Under All Stock Option Plans

TotalValueOfUnitsOutstandingUnderAllStockOptionPlans

1300000

USD

CY2020Q4

us-gaap

Deferred Compensation Equity

DeferredCompensationEquity

2200000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits

DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits

1200000

USD

CY2020

us-gaap

Defined Benefit Plan Contributions By Employer

DefinedBenefitPlanContributionsByEmployer

3900000

USD

CY2019

us-gaap

Defined Benefit Plan Contributions By Employer

DefinedBenefitPlanContributionsByEmployer

2900000

USD

CY2018

us-gaap

Defined Benefit Plan Contributions By Employer

DefinedBenefitPlanContributionsByEmployer

2300000

USD

CY2020

us-gaap

Mortgage Servicing Rights Msr Impairment Recovery

MortgageServicingRightsMSRImpairmentRecovery

200000

USD

CY2020

us-gaap

Mortgage Servicing Rights Msr Impairment Recovery

MortgageServicingRightsMSRImpairmentRecovery

200000

USD

CY2020Q4

mho

Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments

NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments

2354000

USD

CY2018

mho

Gain Loss On Assets And Liabilities Measured On Recurring Basis

GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis

833000

USD

CY2019Q4

mho

Model Home Accumulated Depreciation

ModelHomeAccumulatedDepreciation

12723000

USD

CY2020Q4

mho

Inventory Model Homes And Furnishings

InventoryModelHomesAndFurnishings

81264000

USD

CY2019Q4

mho

Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments

NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments

1445000

USD

CY2020Q4

mho

Notional Amount Of Uncommitted Interest Rate Lock Commitments

NotionalAmountOfUncommittedInterestRateLockCommitments

208500000

USD

CY2019Q4

mho

Notional Amount Of Uncommitted Interest Rate Lock Commitments

NotionalAmountOfUncommittedInterestRateLockCommitments

87340000

USD

CY2020Q4

mho

Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments

ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments

183000000

USD

CY2019Q4

mho

Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments

ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments

88000000

USD

CY2020Q4

mho

Best Effort Contracts And Related Mortgage Loans Held For Sale

BestEffortContractsAndRelatedMortgageLoansHeldForSale

78142000

USD

CY2019Q4

mho

Best Effort Contracts And Related Mortgage Loans Held For Sale

BestEffortContractsAndRelatedMortgageLoansHeldForSale

6125000

USD

CY2020Q4

mho

Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale

ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale

131000000

USD

CY2019Q4

mho

Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale

ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale

144000000

USD

CY2020Q4

mho

Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities

MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities

148331000

USD

CY2019Q4

mho

Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities

MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities

144411000

USD

CY2020

mho

Gain Loss On Assets And Liabilities Measured On Recurring Basis

GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis

-382000

USD

CY2019

mho

Gain Loss On Assets And Liabilities Measured On Recurring Basis

GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis

511000

USD

CY2019Q4

mho

Inventory Model Homes And Furnishings

InventoryModelHomesAndFurnishings

98777000

USD

CY2020Q4

us-gaap

Inventory Real Estate Land And Land Development Costs

InventoryRealEstateLandAndLandDevelopmentCosts

868288000

USD

CY2019Q4

us-gaap

Inventory Real Estate Land And Land Development Costs

InventoryRealEstateLandAndLandDevelopmentCosts

858065000

USD

CY2020Q4

us-gaap

Inventory Land Held For Sale

InventoryLandHeldForSale

4623000

USD

CY2019Q4

us-gaap

Inventory Land Held For Sale

InventoryLandHeldForSale

5670000

USD

CY2020Q4

us-gaap

Inventory Homes Under Construction

InventoryHomesUnderConstruction

898966000

USD

CY2019Q4

us-gaap

Inventory Homes Under Construction

InventoryHomesUnderConstruction

756998000

USD

CY2020Q4

mho

Model Home Accumulated Depreciation

ModelHomeAccumulatedDepreciation

12909000

USD

CY2020Q4

mho

Community Development District

CommunityDevelopmentDistrict

8196000

USD

CY2019Q4

mho

Community Development District

CommunityDevelopmentDistrict

13531000

USD

CY2020Q4

mho

Land Purchase Deposits

LandPurchaseDeposits

45357000

USD

CY2019Q4

mho

Land Purchase Deposits

LandPurchaseDeposits

28532000

USD

CY2020Q4

us-gaap

Land Under Purchase Options Recorded

LandUnderPurchaseOptionsRecorded

9914000

USD

CY2019Q4

us-gaap

Land Under Purchase Options Recorded

LandUnderPurchaseOptionsRecorded

7934000

USD

CY2020Q4

us-gaap

Inventory Real Estate

InventoryRealEstate

1916608000

USD

CY2019Q4

us-gaap

Inventory Real Estate

InventoryRealEstate

1769507000

USD

CY2020Q4

mho

Number Of Speculative Homes

NumberOfSpeculativeHomes

1131

homes

CY2020Q4

mho

Speculative Homes Carrying Value

SpeculativeHomesCarryingValue

186900000

USD

CY2019Q4

mho

Number Of Speculative Homes

NumberOfSpeculativeHomes

1459

homes

CY2019Q4

mho

Speculative Homes Carrying Value

SpeculativeHomesCarryingValue

304000000.0

USD

CY2019Q4

us-gaap

Real Estate Inventory Capitalized Interest Costs

RealEstateInventoryCapitalizedInterestCosts

21607000

USD

CY2018Q4

us-gaap

Real Estate Inventory Capitalized Interest Costs

RealEstateInventoryCapitalizedInterestCosts

20765000

USD

CY2019Q4

mho

Loan Repurchase Guarantee Liability

LoanRepurchaseGuaranteeLiability

500000

USD

CY2020Q4

us-gaap

Guarantee Obligations Current Carrying Value

GuaranteeObligationsCurrentCarryingValue

1400000

USD

CY2017Q4

us-gaap

Real Estate Inventory Capitalized Interest Costs

RealEstateInventoryCapitalizedInterestCosts

17169000

USD

CY2020

us-gaap

Real Estate Inventory Capitalized Interest Costs Incurred

RealEstateInventoryCapitalizedInterestCostsIncurred

32408000

USD

CY2019

us-gaap

Real Estate Inventory Capitalized Interest Costs Incurred

RealEstateInventoryCapitalizedInterestCostsIncurred

30253000

USD

CY2018

us-gaap

Real Estate Inventory Capitalized Interest Costs Incurred

RealEstateInventoryCapitalizedInterestCostsIncurred

29053000

USD

CY2020

us-gaap

Real Estate Inventory Capitalized Interest Costs Cost Of Sales1

RealEstateInventoryCapitalizedInterestCostsCostOfSales1

32686000

USD

CY2019

us-gaap

Real Estate Inventory Capitalized Interest Costs Cost Of Sales1

RealEstateInventoryCapitalizedInterestCostsCostOfSales1

29411000

USD

CY2018

us-gaap

Real Estate Inventory Capitalized Interest Costs Cost Of Sales1

RealEstateInventoryCapitalizedInterestCostsCostOfSales1

25457000

USD

CY2020Q4

us-gaap

Real Estate Inventory Capitalized Interest Costs

RealEstateInventoryCapitalizedInterestCosts

21329000

USD

CY2019Q4

us-gaap

Real Estate Inventory Capitalized Interest Costs

RealEstateInventoryCapitalizedInterestCosts

21607000

USD

CY2018Q4

us-gaap

Real Estate Inventory Capitalized Interest Costs

RealEstateInventoryCapitalizedInterestCosts

20765000

USD

CY2020

us-gaap

Interest Costs Incurred

InterestCostsIncurred

42092000

USD

CY2019

us-gaap

Interest Costs Incurred

InterestCostsIncurred

51628000

USD

CY2018

us-gaap

Interest Costs Incurred

InterestCostsIncurred

49537000

USD

CY2020

us-gaap

Related Party Transaction Amounts Of Transaction

RelatedPartyTransactionAmountsOfTransaction

900000

USD

CY2020Q4

mho

Split Dollar Life Insurance Policies

SplitDollarLifeInsurancePolicies

200000

USD

CY2020Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

34700000

USD

CY2019Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

37900000

USD

CY2020

mho

Distribution Of Single Family Lots From Unconsolidated Llcs

DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs

29700000

USD

CY2020

us-gaap

Payments To Acquire Interest In Subsidiaries And Affiliates

PaymentsToAcquireInterestInSubsidiariesAndAffiliates

28500000

USD

CY2020Q4

mho

Companysinvestmentinjointdevelopmentorsimilaragreements

33900000

USD

CY2019Q4

mho

Companysinvestmentinjointdevelopmentorsimilaragreements

35500000

USD

CY2020Q4

mho

Equityinvestedin Ll Cs

EquityinvestedinLLCs

800000

USD

CY2019Q4

mho

Equityinvestedin Ll Cs

EquityinvestedinLLCs

2400000

USD

CY2020

mho

Equityin Incomelossfromunconsolidatedjointventures

EquityinIncomelossfromunconsolidatedjointventures

500000

USD

CY2019

mho

Equityin Incomelossfromunconsolidatedjointventures

EquityinIncomelossfromunconsolidatedjointventures

300000

USD

CY2020Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

34700000

USD

CY2020Q4

mho

Total Of Loans Covered By Guarantees

TotalOfLoansCoveredByGuarantees

21100000

USD

CY2019Q4

mho

Total Of Loans Covered By Guarantees

TotalOfLoansCoveredByGuarantees

48100000

USD

CY2020Q4

mho

Total Of Guaranteed Loans Inquired About

TotalOfGuaranteedLoansInquiredAbout

600000

USD

CY2020Q4

mho

Loan Repurchase Guarantee Liability

LoanRepurchaseGuaranteeLiability

400000

USD

CY2020Q4

mho

Outstanding Performance Bonds

OutstandingPerformanceBonds

193900000

USD

CY2020Q4

mho

Performance Letters Of Credit Outstanding

PerformanceLettersOfCreditOutstanding

53800000

USD

CY2019Q4

us-gaap

Guarantee Obligations Current Carrying Value

GuaranteeObligationsCurrentCarryingValue

700000

USD

CY2019Q4

us-gaap

Product Warranty Accrual

ProductWarrantyAccrual

26420000

USD

CY2018Q4

us-gaap

Product Warranty Accrual

ProductWarrantyAccrual

26459000

USD

CY2017Q4

us-gaap

Product Warranty Accrual

ProductWarrantyAccrual

26133000

USD

CY2020

us-gaap

Product Warranty Accrual Warranties Issued

ProductWarrantyAccrualWarrantiesIssued

17913000

USD

CY2019

us-gaap

Product Warranty Accrual Warranties Issued

ProductWarrantyAccrualWarrantiesIssued

14685000

USD

CY2018

us-gaap

Product Warranty Accrual Warranties Issued

ProductWarrantyAccrualWarrantiesIssued

13456000

USD

CY2020

us-gaap

Product Warranty Accrual Preexisting Increase Decrease

ProductWarrantyAccrualPreexistingIncreaseDecrease

1315000

USD

CY2019

us-gaap

Product Warranty Accrual Preexisting Increase Decrease

ProductWarrantyAccrualPreexistingIncreaseDecrease

2165000

USD

CY2018

us-gaap

Product Warranty Accrual Preexisting Increase Decrease

ProductWarrantyAccrualPreexistingIncreaseDecrease

4746000

USD

CY2020

us-gaap

Product Warranty Accrual Period Increase Decrease

ProductWarrantyAccrualPeriodIncreaseDecrease

860000

USD

CY2019

us-gaap

Product Warranty Accrual Period Increase Decrease

ProductWarrantyAccrualPeriodIncreaseDecrease

0

USD

CY2018

us-gaap

Product Warranty Accrual Period Increase Decrease

ProductWarrantyAccrualPeriodIncreaseDecrease

0

USD

CY2020

us-gaap

Product Warranty Accrual Payments

ProductWarrantyAccrualPayments

17496000

USD

CY2019

us-gaap

Product Warranty Accrual Payments

ProductWarrantyAccrualPayments

16889000

USD

CY2018

us-gaap

Product Warranty Accrual Payments

ProductWarrantyAccrualPayments

17876000

USD

CY2020Q4

us-gaap

Product Warranty Accrual

ProductWarrantyAccrual

29012000

USD

CY2019Q4

us-gaap

Product Warranty Accrual

ProductWarrantyAccrual

26420000

USD

CY2018Q4

us-gaap

Product Warranty Accrual

ProductWarrantyAccrual

26459000

USD

CY2020

mho

Stucco Repair Cost

StuccoRepairCost

1600000

USD

CY2020

us-gaap

Insurance Recoveries

InsuranceRecoveries

700000

USD

CY2018

mho

Stucco Repair Cost

StuccoRepairCost

1000000.0

USD

CY2018

us-gaap

Insurance Recoveries

InsuranceRecoveries

1000000.0

USD

us-gaap

Product Warranty Accrual Period Increase Decrease

ProductWarrantyAccrualPeriodIncreaseDecrease

28400000

USD

CY2019

us-gaap

Insurance Recoveries

InsuranceRecoveries

1100000

USD

CY2020

mho

Stucco Repair Cost

StuccoRepairCost

1600000

USD

CY2020

us-gaap

Insurance Recoveries

InsuranceRecoveries

700000

USD

CY2020

us-gaap

Product Warranty Accrual Period Increase Decrease

ProductWarrantyAccrualPeriodIncreaseDecrease

900000

USD

CY2020Q4

mho

Estimated Repair Costsfor Affected Homes

EstimatedRepairCostsforAffectedHomes

4700000

USD

CY2020Q4

mho

Letters Of Credit And Bonds

LettersOfCreditAndBonds

261600000

USD

CY2020Q4

mho

Financial Letters Of Credit

FinancialLettersOfCredit

7200000

USD

CY2020Q4

mho

Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts

OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts

6700000

USD

CY2020Q4

mho

Financial Bonds

FinancialBonds

6700000

USD

CY2020Q4

mho

Outstanding Deposits On Land And Lots

OutstandingDepositsOnLandAndLots

65300000

USD

CY2020Q4

mho

Land Purchase Deposits

LandPurchaseDeposits

45400000

USD

CY2020Q4

mho

Prepaid Land Acquisition Costs

PrepaidLandAcquisitionCosts

10100000

USD

CY2020Q4

mho

Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts

OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts

6700000

USD

CY2020Q4

us-gaap

Short Term Non Bank Loans And Notes Payable

ShortTermNonBankLoansAndNotesPayable

3100000

USD

CY2020Q4

us-gaap

Purchase Options Land

PurchaseOptionsLand

799700000

USD

CY2020Q4

us-gaap

Land Under Purchase Options Recorded

LandUnderPurchaseOptionsRecorded

9900000

USD

CY2019Q4

us-gaap

Land Under Purchase Options Recorded

LandUnderPurchaseOptionsRecorded

7900000

USD

CY2020Q4

mho

Obligation For Consolidated Inventory Not Owned

ObligationForConsolidatedInventoryNotOwned

9900000

USD

CY2019Q4

mho

Obligation For Consolidated Inventory Not Owned

ObligationForConsolidatedInventoryNotOwned

7900000

USD

CY2020Q4

us-gaap

Loss Contingency Accrual At Carrying Value

LossContingencyAccrualAtCarryingValue

800000

USD

CY2019Q4

us-gaap

Loss Contingency Accrual At Carrying Value

LossContingencyAccrualAtCarryingValue

700000

USD

CY2020

us-gaap

Right Of Use Asset Obtained In Exchange For Operating Lease Liability

RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability

33900000

USD

CY2020

us-gaap

Capital Lease Obligations Incurred

CapitalLeaseObligationsIncurred

34100000

USD

CY2020

mho

Increasein Operatingleasesduetonewleases

IncreaseinOperatingleasesduetonewleases

40200000

USD

CY2020

us-gaap

Operating Lease Right Of Use Asset Amortization Expense

OperatingLeaseRightOfUseAssetAmortizationExpense

6300000

USD

CY2020

us-gaap

Operating Lease Cost

OperatingLeaseCost

6100000

USD

CY2020Q4

us-gaap

Operating Lease Right Of Use Asset

OperatingLeaseRightOfUseAsset

52300000

USD

CY2020Q4

us-gaap

Operating Lease Liability

OperatingLeaseLiability

52500000

USD

CY2020Q4

us-gaap

Operating Lease Weighted Average Remaining Lease Term1

OperatingLeaseWeightedAverageRemainingLeaseTerm1

P13Y2M12D

CY2020Q4

us-gaap

Operating Lease Weighted Average Discount Rate Percent

OperatingLeaseWeightedAverageDiscountRatePercent

0.039

Rate

CY2020

us-gaap

Operating Lease Payments

OperatingLeasePayments

7548000

USD

CY2020

us-gaap

Variable Lease Payment

VariableLeasePayment

137000

USD

CY2020

us-gaap

Short Term Lease Payments

ShortTermLeasePayments

2686000

USD

CY2020

us-gaap

Operating Lease Expense

OperatingLeaseExpense

10371000

USD

CY2020Q4

mho

Lessee Operating Lease Liability Payments Due Year One

LesseeOperatingLeaseLiabilityPaymentsDueYearOne

8998000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Payments Due Year Two

LesseeOperatingLeaseLiabilityPaymentsDueYearTwo

8212000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Payments Due Year Three

LesseeOperatingLeaseLiabilityPaymentsDueYearThree

6536000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Payments Due Year Four

LesseeOperatingLeaseLiabilityPaymentsDueYearFour

4782000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Payments Due Year Five

LesseeOperatingLeaseLiabilityPaymentsDueYearFive

3287000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Payments Due After Year Five

LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive

35377000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Payments Due

LesseeOperatingLeaseLiabilityPaymentsDue

67192000

USD

CY2020Q4

us-gaap

Lessee Operating Lease Liability Undiscounted Excess Amount

LesseeOperatingLeaseLiabilityUndiscountedExcessAmount

14718000

USD

CY2020Q4

us-gaap

Operating Lease Liability

OperatingLeaseLiability

52474000

USD

CY2020Q4

us-gaap

Other Long Term Debt

OtherLongTermDebt

26460000

USD

CY2019Q4

us-gaap

Other Long Term Debt

OtherLongTermDebt

26460000

USD

CY2020Q4

mho

Community Development District Obligations

CommunityDevelopmentDistrictObligations

8200000

USD

CY2019Q4

mho

Community Development District Obligations

CommunityDevelopmentDistrictObligations

13500000

USD

CY2020Q4

us-gaap

Debt Instrument Unused Borrowing Capacity Amount

DebtInstrumentUnusedBorrowingCapacityAmount

926900000

USD

CY2020Q4

us-gaap

Line Of Credit

LineOfCredit

0

USD

CY2020Q4

mho

Letters Of Credit Outstanding Under Credit Facility

LettersOfCreditOutstandingUnderCreditFacility

61000000.0

USD

CY2020Q4

us-gaap

Line Of Credit Facility Remaining Borrowing Capacity

LineOfCreditFacilityRemainingBorrowingCapacity

439000000.0

USD

CY2020Q4

us-gaap

Minimum Net Worth Required For Compliance

MinimumNetWorthRequiredForCompliance

813400000

USD

CY2020Q4

mho

Leverageratio

0.60

CY2020Q4

mho

Maximum Borrowing Availability Under All Credit Lines

MaximumBorrowingAvailabilityUnderAllCreditLines

275000000.0

USD

CY2019Q4

mho

Maximum Borrowing Availability Under All Credit Lines

MaximumBorrowingAvailabilityUnderAllCreditLines

225000000.0

USD

CY2020Q4

us-gaap

Warehouse Agreement Borrowings

WarehouseAgreementBorrowings

225600000

USD

CY2019Q4

us-gaap

Warehouse Agreement Borrowings

WarehouseAgreementBorrowings

136900000

USD

CY2020Q4

us-gaap

Equity Restrictions

EquityRestrictions

363000000.0

USD

CY2019Q4

us-gaap

Equity Restrictions

EquityRestrictions

264500000

USD

CY2020Q4

us-gaap

Other Notes Payable

OtherNotesPayable

4100000

USD

CY2019Q4

us-gaap

Other Notes Payable

OtherNotesPayable

5800000

USD

CY2020Q4

us-gaap

Long Term Debt Maturities Repayments Of Principal In Next Twelve Months

LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths

228372000

USD

CY2020Q4

us-gaap

Long Term Debt Maturities Repayments Of Principal In Year Two

LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo

953000

USD

CY2018

us-gaap

Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

28234000

shares

CY2020Q4

us-gaap

Long Term Debt Maturities Repayments Of Principal In Year Three

LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree

304000

USD

CY2020Q4

us-gaap

Long Term Debt Maturities Repayments Of Principal In Year Four

LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour

77000

USD

CY2020Q4

us-gaap

Long Term Debt Maturities Repayments Of Principal In Year Five

LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive

250000000

USD

CY2020Q4

us-gaap

Long Term Debt Maturities Repayments Of Principal After Year Five

LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive

400000000

USD

CY2020Q4

mho

Long Term Debt Maturities Repayments Of Principal

LongTermDebtMaturitiesRepaymentsOfPrincipal

879706000

USD

CY2020Q4

us-gaap

Goodwill

16400000

USD

CY2020

us-gaap

Profit Loss

ProfitLoss

239874000

USD

CY2019

us-gaap

Profit Loss

ProfitLoss

127587000

USD

CY2018

us-gaap

Profit Loss

ProfitLoss

107663000

USD

CY2020

us-gaap

Net Income Loss Available To Common Stockholders Diluted

NetIncomeLossAvailableToCommonStockholdersDiluted

239874000

USD

CY2019

us-gaap

Net Income Loss Available To Common Stockholders Diluted

NetIncomeLossAvailableToCommonStockholdersDiluted

127587000

USD

CY2018

us-gaap

Net Income Loss Available To Common Stockholders Diluted

NetIncomeLossAvailableToCommonStockholdersDiluted

108070000

USD

CY2020

us-gaap

Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

28610000

shares

CY2019

us-gaap

Weighted Average Number Of Shares Outstanding Basic

WeightedAverageNumberOfSharesOutstandingBasic

27846000

shares

CY2020

mho

Incremental Common Shares Attributable To Stock Options

IncrementalCommonSharesAttributableToStockOptions

298000

shares

CY2019

mho

Incremental Common Shares Attributable To Stock Options

IncrementalCommonSharesAttributableToStockOptions

412000

shares

CY2018

mho

Incremental Common Shares Attributable To Stock Options

IncrementalCommonSharesAttributableToStockOptions

295000

shares

CY2020

us-gaap

Incremental Common Shares Attributable To Share Based Payment Arrangements

IncrementalCommonSharesAttributableToShareBasedPaymentArrangements

244000

shares

CY2019

us-gaap

Incremental Common Shares Attributable To Share Based Payment Arrangements

IncrementalCommonSharesAttributableToShareBasedPaymentArrangements

217000

shares

CY2018

us-gaap

Incremental Common Shares Attributable To Share Based Payment Arrangements

IncrementalCommonSharesAttributableToShareBasedPaymentArrangements

219000

shares

CY2020

us-gaap

Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

29152000

shares

CY2019

us-gaap

Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

28475000

shares

CY2018

us-gaap

Weighted Average Number Of Diluted Shares Outstanding

WeightedAverageNumberOfDilutedSharesOutstanding

29178000

shares

CY2020

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

8.38

CY2019

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

4.58

CY2018

us-gaap

Earnings Per Share Basic

EarningsPerShareBasic

3.81

CY2020

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

8.23

CY2019

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

4.48

CY2018

us-gaap

Earnings Per Share Diluted

EarningsPerShareDiluted

3.70

CY2020

us-gaap

Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount

AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

379000

shares

CY2019

us-gaap

Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount

AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

1000

shares

CY2018

us-gaap

Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount

AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

381000

shares

CY2020

us-gaap

Other Tax Expense Benefit

OtherTaxExpenseBenefit

7200000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Gross

DeferredTaxAssetsGross

29300000

USD

CY2020Q4

us-gaap

Deferred Income Tax Liabilities

DeferredIncomeTaxLiabilities

23100000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Net

DeferredTaxAssetsNet

6200000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves

DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves

8931000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves

DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves

8114000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost

DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost

1537000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost

DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost

2109000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Inventory

DeferredTaxAssetsInventory

5344000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Inventory

DeferredTaxAssetsInventory

4254000

USD

CY2020Q4

mho

Deferred Tax Asset Operating Lease Liabilities

DeferredTaxAssetOperatingLeaseLiabilities

13145000

USD

CY2019Q4

mho

Deferred Tax Asset Operating Lease Liabilities

DeferredTaxAssetOperatingLeaseLiabilities

4613000

USD

CY2020Q4

us-gaap

Deferred Tax Assets State Taxes

DeferredTaxAssetsStateTaxes

273000

USD

CY2019Q4

us-gaap

Deferred Tax Assets State Taxes

DeferredTaxAssetsStateTaxes

213000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Operating Loss Carryforwards

DeferredTaxAssetsOperatingLossCarryforwards

65000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Operating Loss Carryforwards

DeferredTaxAssetsOperatingLossCarryforwards

754000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Other

DeferredTaxAssetsOther

0

USD

CY2019Q4

us-gaap

Deferred Tax Assets Other

DeferredTaxAssetsOther

426000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Gross

DeferredTaxAssetsGross

29295000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Gross

DeferredTaxAssetsGross

20483000

USD

CY2020Q4

mho

Federaleffectofstatedeferredtaxes

230000

USD

CY2019Q4

mho

Federaleffectofstatedeferredtaxes

476000

USD

CY2020Q4

us-gaap

Deferred Tax Liabilities Property Plant And Equipment

DeferredTaxLiabilitiesPropertyPlantAndEquipment

7794000

USD

CY2019Q4

us-gaap

Deferred Tax Liabilities Property Plant And Equipment

DeferredTaxLiabilitiesPropertyPlantAndEquipment

5288000

USD

CY2020Q4

mho

Deferred Tax Liability Operating Lease Rightof Use Assets

DeferredTaxLiabilityOperatingLeaseRightofUseAssets

13099000

USD

CY2019Q4

mho

Deferred Tax Liability Operating Lease Rightof Use Assets

DeferredTaxLiabilityOperatingLeaseRightofUseAssets

4613000

USD

CY2020Q4

us-gaap

Deferred Tax Liabilities Prepaid Expenses

DeferredTaxLiabilitiesPrepaidExpenses

1304000

USD

CY2019Q4

us-gaap

Deferred Tax Liabilities Prepaid Expenses

DeferredTaxLiabilitiesPrepaidExpenses

475000

USD

CY2020Q4

us-gaap

Deferred Tax Liabilities Other

DeferredTaxLiabilitiesOther

685000

USD

CY2019Q4

us-gaap

Deferred Tax Liabilities Other

DeferredTaxLiabilitiesOther

0

USD

CY2020Q4

us-gaap

Deferred Income Tax Liabilities

DeferredIncomeTaxLiabilities

23112000

USD

CY2019Q4

us-gaap

Deferred Income Tax Liabilities

DeferredIncomeTaxLiabilities

10852000

USD

CY2020Q4

us-gaap

Deferred Tax Assets Net

DeferredTaxAssetsNet

6183000

USD

CY2019Q4

us-gaap

Deferred Tax Assets Net

DeferredTaxAssetsNet

9631000

USD

CY2020

us-gaap

Current Federal Tax Expense Benefit

CurrentFederalTaxExpenseBenefit

54634000

USD

CY2019

us-gaap

Current Federal Tax Expense Benefit

CurrentFederalTaxExpenseBenefit

29602000

USD

CY2018

us-gaap

Current Federal Tax Expense Benefit

CurrentFederalTaxExpenseBenefit

24408000

USD

CY2020

us-gaap

Current State And Local Tax Expense Benefit

CurrentStateAndLocalTaxExpenseBenefit

12087000

USD

CY2019

us-gaap

Current State And Local Tax Expense Benefit

CurrentStateAndLocalTaxExpenseBenefit

4985000

USD

CY2018

us-gaap

Current State And Local Tax Expense Benefit

CurrentStateAndLocalTaxExpenseBenefit

4261000

USD

CY2020

us-gaap

Current Income Tax Expense Benefit

CurrentIncomeTaxExpenseBenefit

66721000

USD

CY2019

us-gaap

Current Income Tax Expense Benefit

CurrentIncomeTaxExpenseBenefit

34587000

USD

CY2018

us-gaap

Current Income Tax Expense Benefit

CurrentIncomeTaxExpenseBenefit

28669000

USD

CY2020

us-gaap

Deferred Federal Income Tax Expense Benefit

DeferredFederalIncomeTaxExpenseBenefit

2520000

USD

CY2019

us-gaap

Deferred Federal Income Tax Expense Benefit

DeferredFederalIncomeTaxExpenseBenefit

1490000

USD

CY2018

us-gaap

Deferred Federal Income Tax Expense Benefit

DeferredFederalIncomeTaxExpenseBenefit

2333000

USD

CY2020

us-gaap

Deferred State And Local Income Tax Expense Benefit

DeferredStateAndLocalIncomeTaxExpenseBenefit

928000

USD

CY2019

us-gaap

Deferred State And Local Income Tax Expense Benefit

DeferredStateAndLocalIncomeTaxExpenseBenefit

2361000

USD

CY2018

us-gaap

Deferred State And Local Income Tax Expense Benefit

DeferredStateAndLocalIncomeTaxExpenseBenefit

2624000

USD

CY2020

us-gaap

Deferred Income Tax Expense Benefit

DeferredIncomeTaxExpenseBenefit

3448000

USD

CY2019

us-gaap

Deferred Income Tax Expense Benefit

DeferredIncomeTaxExpenseBenefit

3851000

USD

CY2018

us-gaap

Deferred Income Tax Expense Benefit

DeferredIncomeTaxExpenseBenefit

4957000

USD

CY2020

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

70169000

USD

CY2019

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

38438000

USD

CY2018

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

33626000

USD

CY2020

us-gaap

Effective Income Tax Rate Continuing Operations

EffectiveIncomeTaxRateContinuingOperations

0.2263

CY2019

us-gaap

Effective Income Tax Rate Continuing Operations

EffectiveIncomeTaxRateContinuingOperations

0.2315

CY2018

us-gaap

Effective Income Tax Rate Continuing Operations

EffectiveIncomeTaxRateContinuingOperations

0.2380

CY2020

us-gaap

Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate

IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate

65109000

USD

CY2019

us-gaap

Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate

IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate

34865000

USD

CY2018

us-gaap

Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate

IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate

29671000

USD

CY2020

us-gaap

Income Tax Reconciliation State And Local Income Taxes

IncomeTaxReconciliationStateAndLocalIncomeTaxes

10761000

USD

CY2019

us-gaap

Income Tax Reconciliation State And Local Income Taxes

IncomeTaxReconciliationStateAndLocalIncomeTaxes

5981000

USD

CY2018

us-gaap

Income Tax Reconciliation State And Local Income Taxes

IncomeTaxReconciliationStateAndLocalIncomeTaxes

5636000

USD

CY2020

us-gaap

Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost

IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost

-1322000

USD

CY2019

us-gaap

Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost

IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost

-1251000

USD

CY2018

us-gaap

Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost

IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost

-254000

USD

CY2020

us-gaap

Income Tax Reconciliation Tax Credits

IncomeTaxReconciliationTaxCredits

7182000

USD

CY2019

us-gaap

Income Tax Reconciliation Tax Credits

IncomeTaxReconciliationTaxCredits

3493000

USD

CY2018

us-gaap

Income Tax Reconciliation Tax Credits

IncomeTaxReconciliationTaxCredits

2817000

USD

CY2020

us-gaap

Income Tax Reconciliation Other Adjustments

IncomeTaxReconciliationOtherAdjustments

2803000

USD

CY2019

us-gaap

Income Tax Reconciliation Other Adjustments

IncomeTaxReconciliationOtherAdjustments

2336000

USD

CY2018

us-gaap

Income Tax Reconciliation Other Adjustments

IncomeTaxReconciliationOtherAdjustments

1390000

USD

CY2020

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

70169000

USD

CY2019

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

38438000

USD

CY2018

us-gaap

Income Tax Expense Benefit

IncomeTaxExpenseBenefit

33626000

USD

CY2018

us-gaap

Business Combination Acquisition Related Costs

BusinessCombinationAcquisitionRelatedCosts

1700000

USD

CY2020

us-gaap

Income Loss From Continuing Operations Before Income Taxes Domestic

IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic

310043000

USD

CY2020

us-gaap

Operating Income Loss

OperatingIncomeLoss

319261000

USD

CY2019

us-gaap

Operating Income Loss

OperatingIncomeLoss

187089000

USD

CY2020Q4

us-gaap

Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued

UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued

0

USD

CY2020

us-gaap

Revenues

3046145000

USD

CY2019

us-gaap

Revenues

2500290000

USD

CY2018

us-gaap

Revenues

2286282000

USD

CY2018

us-gaap

Operating Income Loss

OperatingIncomeLoss

163161000

USD

CY2020

us-gaap

Interest Expense

InterestExpense

9684000

USD

CY2019

us-gaap

Interest Expense

InterestExpense

21375000

USD

CY2018

us-gaap

Interest Expense

InterestExpense

20484000

USD

CY2020

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

466000

USD

CY2019

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

311000

USD

CY2018

us-gaap

Income Loss From Equity Method Investments

IncomeLossFromEquityMethodInvestments

312000

USD

CY2020

us-gaap

Business Combination Acquisition Related Costs

BusinessCombinationAcquisitionRelatedCosts

0

USD

CY2019

us-gaap

Business Combination Acquisition Related Costs

BusinessCombinationAcquisitionRelatedCosts

0

USD

CY2019Q4

us-gaap

Advances On Inventory Purchases

AdvancesOnInventoryPurchases

28532000

USD

CY2019

us-gaap

Income Loss From Continuing Operations Before Income Taxes Domestic

IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic

166025000

USD

CY2018

us-gaap

Income Loss From Continuing Operations Before Income Taxes Domestic

IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic

141289000

USD

CY2020

us-gaap

Depreciation Depletion And Amortization

DepreciationDepletionAndAmortization

17578000

USD

CY2019

us-gaap

Depreciation Depletion And Amortization

DepreciationDepletionAndAmortization

15950000

USD

CY2018

us-gaap

Depreciation Depletion And Amortization

DepreciationDepletionAndAmortization

14531000

USD

CY2019

mho

Purchase Accounting Adjustments

PurchaseAccountingAdjustments

600000

USD

CY2018

mho

Purchase Accounting Adjustments

PurchaseAccountingAdjustments

5100000

USD

CY2020

us-gaap

Product Warranty Accrual Period Increase Decrease

ProductWarrantyAccrualPeriodIncreaseDecrease

900000

USD

CY2020

mho

Total Valuation Adjustments And Write Offs

TotalValuationAdjustmentsAndWriteOffs

8400000

USD

CY2019

mho

Total Valuation Adjustments And Write Offs

TotalValuationAdjustmentsAndWriteOffs

5000000.0

USD

CY2018

mho

Total Valuation Adjustments And Write Offs

TotalValuationAdjustmentsAndWriteOffs

5800000

USD

CY2020Q4

us-gaap

Advances On Inventory Purchases

AdvancesOnInventoryPurchases

45357000

USD

CY2020Q4

mho

Inventory Segments

InventorySegments

1871251000

USD

CY2020Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

34673000

USD

CY2020Q4

mho

Other Combined Assets

OtherCombinedAssets

691764000

USD

CY2020Q4

us-gaap

Assets

2643045000

USD

CY2019Q4

mho

Inventory Segments

InventorySegments

1740975000

USD

CY2019Q4

us-gaap

Equity Method Investments

EquityMethodInvestments

37885000

USD

CY2019Q4

mho

Other Combined Assets

OtherCombinedAssets

298202000

USD

CY2019Q4

us-gaap

Assets

2105594000

USD

CY2020Q4

us-gaap

Stock Repurchase Program Authorized Amount1

StockRepurchaseProgramAuthorizedAmount1

50000000

USD

CY2020

us-gaap

Treasury Stock Shares Acquired

TreasuryStockSharesAcquired

100000

shares

CY2020

us-gaap

Treasury Stock Value Acquired Cost Method

TreasuryStockValueAcquiredCostMethod

1900000

USD

us-gaap

Treasury Stock Shares Acquired

TreasuryStockSharesAcquired

1400000

shares

us-gaap

Treasury Stock Value Acquired Cost Method

TreasuryStockValueAcquiredCostMethod

32800000

USD

CY2020Q4

us-gaap

Stock Repurchase Program Remaining Authorized Repurchase Amount1

StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1

17200000

USD

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$MHO
M/I HOMES, INC. Stock $mho

2019 Q4 Form 10-K Financial Statement

#000079929221000032 Filed on February 19, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MHO M/I HOMES, INC. Stock $mho

2019 Q4 Form 10-K Financial Statement

#000079929221000032 Filed on February 19, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MHO
M/I HOMES, INC. Stock $mho