$MHO
M/I HOMES, INC.

2021 Q4 Form 10-Q Financial Statement

#000079929221000112 Filed on October 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.052B $904.3M $847.9M
YoY Change 16.04% 6.65% 29.78%
Cost Of Revenue $808.2M $682.6M $653.4M
YoY Change 17.26% 4.46% 25.86%
Gross Profit $243.6M $221.8M $194.5M
YoY Change 12.16% 14.0% 44.96%
Gross Profit Margin 23.16% 24.52% 22.94%
Selling, General & Admin $103.5M $96.53M $98.42M
YoY Change -2.14% -1.91% 23.75%
% of Gross Profit 42.5% 43.53% 50.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.731M $3.660M $3.900M
YoY Change -4.33% -6.15% 14.71%
% of Gross Profit 1.53% 1.65% 2.0%
Operating Expenses $103.5M $96.53M $98.42M
YoY Change -2.23% -1.91% 23.75%
Operating Profit $140.1M $125.2M $96.10M
YoY Change 25.84% 30.31% 75.84%
Interest Expense $1.299M $24.00K $1.239M
YoY Change -218.09% -98.06% -73.28%
% of Operating Profit 0.93% 0.02% 1.29%
Other Income/Expense, Net
YoY Change
Pretax Income $141.4M $116.2M $95.11M
YoY Change 38.73% 22.15% 89.97%
Income Tax $27.98M $25.20M $21.60M
% Of Pretax Income 19.79% 21.69% 22.71%
Net Earnings $113.4M $91.01M $73.54M
YoY Change 41.55% 23.76% 94.35%
Net Earnings / Revenue 10.78% 10.06% 8.67%
Basic Earnings Per Share $3.11 $2.57
Diluted Earnings Per Share $3.828M $3.03 $2.51
COMMON SHARES
Basic Shares Outstanding 29.10M shares 29.25M shares 28.65M shares
Diluted Shares Outstanding 30.03M shares 29.29M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.4M $221.2M $202.5M
YoY Change -9.37% 9.21% 504.48%
Cash & Equivalents $236.4M $221.2M $202.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.452B $2.353B $1.843B
Prepaid Expenses
Receivables $140.0M
Other Receivables $0.00
Total Short-Term Assets $2.689B $2.574B $2.186B
YoY Change 11.49% 17.77% 9.9%
LONG-TERM ASSETS
Property, Plant & Equipment $37.65M $23.64M $25.70M
YoY Change 41.47% -7.99% -6.97%
Goodwill $16.40M $16.40M $16.40M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $57.12M $42.47M $34.04M
YoY Change 64.74% 24.76% -28.43%
Other Assets $285.9M $222.0M $9.200M
YoY Change 4511.39% 2313.48% -23.33%
Total Long-Term Assets $551.1M $472.3M $234.7M
YoY Change 138.19% 101.27% 21.77%
TOTAL ASSETS
Total Short-Term Assets $2.689B $2.574B $2.186B
Total Long-Term Assets $551.1M $472.3M $234.7M
Total Assets $3.240B $3.047B $2.421B
YoY Change 22.58% 25.86% 10.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $244.5M $227.3M $176.6M
YoY Change 31.67% 28.72% 4.19%
Accrued Expenses $51.50M $51.64M $52.70M
YoY Change -1.91% -2.02% 175.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $403.9M $394.2M $295.9M
YoY Change 29.94% 33.23% 31.57%
LONG-TERM LIABILITIES
Long-Term Debt $962.0M $908.0M $783.3M
YoY Change 10.33% 15.91% -7.81%
Other Long-Term Liabilities $249.8M $199.9M $166.6M
YoY Change 23.86% 20.01% 9.32%
Total Long-Term Liabilities $1.212B $1.108B $949.9M
YoY Change 12.87% 16.63% -5.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $403.9M $394.2M $295.9M
Total Long-Term Liabilities $1.212B $1.108B $949.9M
Total Liabilities $1.616B $1.502B $1.246B
YoY Change 16.71% 20.57% 1.54%
SHAREHOLDERS EQUITY
Retained Earnings $1.345B $1.232B $868.4M
YoY Change 41.84% 41.87% 30.23%
Common Stock $347.8M $345.4M $336.9M
YoY Change 2.49% 2.51% 1.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $68.89M $32.86M $30.55M
YoY Change 137.09% 7.56% -29.9%
Treasury Stock Shares 1.638M shares 1.038M shares 1.391M shares
Shareholders Equity $1.624B $1.544B $1.175B
YoY Change
Total Liabilities & Shareholders Equity $3.240B $3.047B $2.421B
YoY Change 22.58% 25.86% 10.95%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $113.4M $91.01M $73.54M
YoY Change 41.55% 23.76% 94.35%
Depreciation, Depletion And Amortization $3.731M $3.660M $3.900M
YoY Change -4.33% -6.15% 14.71%
Cash From Operating Activities $17.52M -$208.1M $114.4M
YoY Change -160.62% -281.94% -1291.67%
INVESTING ACTIVITIES
Capital Expenditures -$22.74M -$1.523M -$6.500M
YoY Change 610.69% -76.57% 550.0%
Acquisitions
YoY Change
Other Investing Activities $2.943M -$17.64M -$4.200M
YoY Change 320.43% 319.93% -47.5%
Cash From Investing Activities -$19.80M -$19.16M -$10.60M
YoY Change 661.5% 80.75% 17.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.49M 76.65M 4.700M
YoY Change -80.52% 1530.91% -85.17%
NET CHANGE
Cash From Operating Activities 17.52M -208.1M 114.4M
Cash From Investing Activities -19.80M -19.16M -10.60M
Cash From Financing Activities 17.49M 76.65M 4.700M
Net Change In Cash 15.21M -150.6M 108.5M
YoY Change -73.91% -238.85% 728.24%
FREE CASH FLOW
Cash From Operating Activities $17.52M -$208.1M $114.4M
Capital Expenditures -$22.74M -$1.523M -$6.500M
Free Cash Flow $40.26M -$206.6M $120.9M
YoY Change -256.65% -270.9% -1505.81%

Facts In Submission

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us-gaap Deferred Compensation Arrangement With Individual Distribution Paid
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us-gaap Deferred Compensation Arrangement With Individual Distribution Paid
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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145000 USD
us-gaap Income Loss From Equity Method Investments
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us-gaap Payments For Origination Of Mortgage Loans Held For Sale
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us-gaap Payments For Origination Of Mortgage Loans Held For Sale
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mho Fair Value Adjustment Of Mortgage Loans Held For Sale
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mho Fair Value Adjustment Of Mortgage Loans Held For Sale
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911000 USD
mho Fair Value Adjustment Of Mortgage Servicing Rights
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mho Fair Value Adjustment Of Mortgage Servicing Rights
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mho Additions Of Servicing Asset
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mho Additions Of Servicing Asset
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us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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us-gaap Amortization Of Financing Costs And Discounts
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mho Loss Gain On Sale Of Mortgage Servicing Rights
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mho Loss Gain On Sale Of Mortgage Servicing Rights
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mho Non Cash Portion Of Loss On Early Extinguishment Of Debt
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mho Non Cash Portion Of Loss On Early Extinguishment Of Debt
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us-gaap Share Based Compensation
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
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us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Senior Debt
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us-gaap Repayments Of Senior Debt
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us-gaap Proceeds From Issuance Of Senior Long Term Debt
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us-gaap Proceeds From Bank Debt
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us-gaap Repayments Of Bank Debt
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us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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mho Community Development District Infrastructure
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mho Community Development District Infrastructure
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mho Consolidated Inventory Not Owned Obligation
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mho Consolidated Inventory Not Owned Obligation
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mho Distribution Of Single Family Lots From Unconsolidated Llcs
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mho Distribution Of Single Family Lots From Unconsolidated Llcs
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us-gaap Basis Of Accounting
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Basis of Presentation<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 accompanying Unaudited Condensed Consolidated Financial Statements (the “financial statements”) of M/I Homes, Inc. and its subsidiaries (the “Company”) and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. The financial statements include the accounts of the Company. All intercompany transactions have been eliminated. Results for the interim period are not necessarily indicative of results for a full year. In the opinion of management, the accompanying financial statements reflect all adjustments (all of which are normal and recurring in nature) necessary for a fair presentation of financial results for the interim periods presented. These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”).</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%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows. With regard to the Company, estimates and assumptions are inherent in calculations relating to valuation of inventory and investment in unconsolidated joint ventures, property and equipment depreciation, valuation of derivative financial instruments, accounts payable on inventory, accruals for costs to complete inventory, accruals for warranty claims, accruals for self-insured general liability claims, litigation, accruals for health care and workers’ compensation, accruals for guaranteed or indemnified loans, stock-based compensation expense, income taxes, and contingencies. Items that could have a significant impact on these estimates and assumptions include the risks and uncertainties listed in “Item 1A. Risk Factors” in Part I of our 2020 Form 10-K, as the same may be updated from time to time in our subsequent filings with the SEC. </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-style:italic;font-weight:700;line-height:120%">Recently Adopted Accounting Standards</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 December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. The adoption of this ASU 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-style:italic;font-weight:700;line-height:120%">Significant Accounting Policies</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%">There have been no significant changes to our significant accounting policies during the quarter ended September 30, 2021 as compared to those disclosed in our 2020 Form 10-K.</span></div>
CY2021Q3 us-gaap Inventory Real Estate Land And Land Development Costs
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CY2020Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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CY2021Q3 us-gaap Inventory Land Held For Sale
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3620000 USD
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4623000 USD
CY2021Q3 us-gaap Inventory Homes Under Construction
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1190921000 USD
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898966000 USD
CY2021Q3 mho Model Home Accumulated Depreciation
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12593000 USD
CY2020Q4 mho Model Home Accumulated Depreciation
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12909000 USD
CY2021Q3 mho Inventory Model Homes And Furnishings
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67190000 USD
CY2020Q4 mho Inventory Model Homes And Furnishings
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81264000 USD
CY2021Q3 mho Community Development District
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15975000 USD
CY2020Q4 mho Community Development District
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8196000 USD
CY2021Q3 mho Land Purchase Deposits
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CY2020Q4 mho Land Purchase Deposits
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45357000 USD
CY2021Q3 us-gaap Land Under Purchase Options Recorded
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CY2021Q3 mho Number Of Speculative Homes
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1042 homes
CY2021Q3 mho Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
146700000 USD
CY2020Q4 mho Number Of Speculative Homes
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1131
CY2020Q4 mho Speculative Homes Carrying Value
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186900000 USD
CY2021Q3 mho Community Development District
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16000000 USD
CY2020Q4 mho Community Development District
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CY2021Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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CY2020Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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28020000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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CY2021Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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25855000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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23127000 USD
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23494000 USD
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us-gaap Interest Costs Incurred
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us-gaap Interest Costs Incurred
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mho Increasedecreaseininvestmentsinunconsolidatedjointventuresandothersimilararrangements
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7800000 USD
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mho Distribution Of Single Family Lots From Unconsolidated Llcs
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26000000 USD
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1100000 USD
CY2021Q3 mho Companysinvestmentinjointdevelopmentorsimilaragreements
Companysinvestmentinjointdevelopmentorsimilaragreements
42300000 USD
CY2020Q4 mho Companysinvestmentinjointdevelopmentorsimilaragreements
Companysinvestmentinjointdevelopmentorsimilaragreements
33900000 USD
CY2021Q3 mho Equityinvestedin Ll Cs
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200000 USD
CY2020Q4 mho Equityinvestedin Ll Cs
EquityinvestedinLLCs
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CY2021Q3 us-gaap Income Loss From Equity Method Investments
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CY2020Q3 us-gaap Income Loss From Equity Method Investments
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300000 USD
us-gaap Income Loss From Equity Method Investments
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100000 USD
us-gaap Income Loss From Equity Method Investments
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300000 USD
CY2021Q3 us-gaap Equity Method Investments
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42500000 USD
CY2020 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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200000 USD
CY2020Q4 us-gaap Valuation Allowance For Impairment Of Recognized Servicing Assets Balance
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200000 USD
CY2021Q3 mho Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
5294000 USD
CY2020Q4 mho Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
2354000 USD
CY2021Q3 mho Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
273470000 USD
CY2020Q4 mho Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
208500000 USD
CY2021Q3 mho Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments
ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments
258000000 USD
CY2020Q4 mho Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments
ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments
183000000 USD
CY2021Q3 mho Best Effort Contracts And Related Mortgage Loans Held For Sale
BestEffortContractsAndRelatedMortgageLoansHeldForSale
6813000 USD
CY2020Q4 mho Best Effort Contracts And Related Mortgage Loans Held For Sale
BestEffortContractsAndRelatedMortgageLoansHeldForSale
78142000 USD
CY2021Q3 mho Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale
192000000 USD
CY2020Q4 mho Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale
131000000 USD
CY2021Q3 mho Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities
192672000 USD
CY2020Q4 mho Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
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148331000 USD
CY2021Q3 mho Gain Loss On Assets And Liabilities Measured On Recurring Basis
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782000 USD
CY2020Q3 mho Gain Loss On Assets And Liabilities Measured On Recurring Basis
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mho Gain Loss On Assets And Liabilities Measured On Recurring Basis
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2404000 USD
CY2021Q3 mho Financial Bonds
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5600000 USD
mho Gain Loss On Assets And Liabilities Measured On Recurring Basis
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232000 USD
CY2021Q3 us-gaap Asset Impairment Charges
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0 USD
CY2021Q3 us-gaap Equity Method Investment Other Than Temporary Impairment
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0 USD
CY2021Q3 mho Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
113000000 USD
CY2020Q4 mho Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
21100000 USD
CY2021Q3 mho Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
900000 USD
CY2020Q4 mho Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
600000 USD
CY2021Q3 mho Loan Repurchase Guarantee Liability
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300000 USD
CY2020Q4 mho Loan Repurchase Guarantee Liability
LoanRepurchaseGuaranteeLiability
400000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29880000 USD
CY2020Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
26175000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29012000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
26420000 USD
CY2021Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4834000 USD
CY2020Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4961000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
15246000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
12624000 USD
CY2021Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1745000 USD
CY2020Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
416000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
2356000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-228000 USD
CY2021Q3 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
0 USD
CY2020Q3 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
0 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
0 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
0 USD
CY2021Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6078000 USD
CY2020Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4578000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
16233000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
11842000 USD
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
30381000 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
26974000 USD
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
30381000 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
26974000 USD
CY2021Q3 mho Estimated Repair Costsfor Affected Homes
EstimatedRepairCostsforAffectedHomes
3200000 USD
CY2021Q3 mho Letters Of Credit And Bonds
LettersOfCreditAndBonds
363600000 USD
CY2021Q3 mho Outstanding Performance Bonds
OutstandingPerformanceBonds
263600000 USD
CY2021Q3 mho Performance Letters Of Credit Outstanding
PerformanceLettersOfCreditOutstanding
81400000 USD
CY2021Q3 mho Financial Letters Of Credit
FinancialLettersOfCredit
13000000 USD
CY2021Q3 mho Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts
12600000 USD
CY2021Q3 us-gaap Purchase Options Land
PurchaseOptionsLand
866700000 USD
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1700000 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
800000 USD
CY2021Q3 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
1130000000 USD
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q3 mho Letters Of Credit Outstanding Under Credit Facility
LettersOfCreditOutstandingUnderCreditFacility
94400000 USD
CY2021Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
455600000 USD
CY2021Q3 mho Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
300000000 USD
CY2020Q4 mho Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
275000000 USD
CY2021Q3 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
211300000 USD
CY2020Q4 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
225600000 USD
CY2021Q3 us-gaap Equity Restrictions
EquityRestrictions
470900000 USD
CY2020Q4 us-gaap Equity Restrictions
EquityRestrictions
363000000 USD
CY2021Q3 us-gaap Other Notes Payable
OtherNotesPayable
5500000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
313000 shares
CY2020Q4 us-gaap Other Notes Payable
OtherNotesPayable
4100000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
91012000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
73537000 USD
us-gaap Net Income Loss
NetIncomeLoss
283485000 USD
us-gaap Net Income Loss
NetIncomeLoss
159791000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29250000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28653000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29179000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28554000 shares
CY2021Q3 mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
447000 shares
CY2020Q3 mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
376000 shares
mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
474000 shares
mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
253000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
331000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
257000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
223000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30028000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29286000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29966000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29030000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.11
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.60
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.03
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.51
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.50
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
435000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
360000 shares
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25200000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21600000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217 Rate
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.227 Rate
CY2021Q3 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
84300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48400000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.229 Rate
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.232 Rate
CY2021Q3 us-gaap Revenues
Revenues
904319000 USD
CY2020Q3 us-gaap Revenues
Revenues
847921000 USD
us-gaap Revenues
Revenues
2694135000 USD
us-gaap Revenues
Revenues
2139718000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
95109000 USD
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
125220000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
96096000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
378231000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
216339000 USD
CY2021Q3 mho Interest Income Net Of Interest Expense
InterestIncomeNetOfInterestExpense
74000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
1239000 USD
us-gaap Interest Expense
InterestExpense
1554000 USD
us-gaap Interest Expense
InterestExpense
8454000 USD
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-50000 USD
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
252000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
145000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
307000 USD
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
9072000 USD
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
9072000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
116172000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
367750000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
208192000 USD
CY2021Q3 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
48600000 USD
CY2021Q3 mho Inventory Segments
InventorySegments
2304543000 USD
CY2021Q3 us-gaap Equity Method Investments
EquityMethodInvestments
42466000 USD
CY2021Q3 mho Other Combined Assets
OtherCombinedAssets
650991000 USD
CY2021Q3 us-gaap Assets
Assets
3046600000 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
Assets
2643045000 USD
CY2021Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 USD
CY2021Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
200000 shares
CY2021Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
15500000 USD
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
84500000 USD
CY2021Q3 us-gaap Revenues
Revenues
904319000 USD
CY2020Q3 us-gaap Revenues
Revenues
847921000 USD
us-gaap Revenues
Revenues
2694135000 USD
us-gaap Revenues
Revenues
2139718000 USD
CY2021Q3 us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
-3100000 USD
CY2020Q3 us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
-5700000 USD
us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
800000 USD
us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
-16300000 USD
CY2020Q3 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
100000 USD
us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
500000 USD

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