2022 Q3 Form 10-Q Financial Statement

#000079929222000057 Filed on July 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $1.013B $1.041B $1.052B
YoY Change 12.01% 8.28% 16.04%
Cost Of Revenue $741.0M $756.4M $808.2M
YoY Change 8.56% 5.1% 17.26%
Gross Profit $271.9M $284.3M $243.6M
YoY Change 22.62% 17.78% 12.16%
Gross Profit Margin 26.84% 27.32% 23.16%
Selling, General & Admin $104.6M $101.4M $103.5M
YoY Change 8.38% 1.77% -2.14%
% of Gross Profit 38.48% 35.68% 42.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.706M $3.641M $3.731M
YoY Change 1.26% 2.85% -4.33%
% of Gross Profit 1.36% 1.28% 1.53%
Operating Expenses $104.6M $101.4M $103.5M
YoY Change 8.38% 1.77% -2.23%
Operating Profit $167.3M $182.9M $140.1M
YoY Change 33.6% 29.04% 25.84%
Interest Expense $701.0K $693.0K $1.299M
YoY Change 2820.83% 53.32% -218.09%
% of Operating Profit 0.42% 0.38% 0.93%
Other Income/Expense, Net
YoY Change
Pretax Income $166.6M $182.2M $141.4M
YoY Change 43.4% 28.93% 38.73%
Income Tax $35.00M $45.30M $27.98M
% Of Pretax Income 21.01% 24.87% 19.79%
Net Earnings $131.6M $136.8M $113.4M
YoY Change 44.59% 27.16% 41.55%
Net Earnings / Revenue 12.99% 13.15% 10.78%
Basic Earnings Per Share $4.76 $4.88
Diluted Earnings Per Share $4.67 $4.79 $3.828M
COMMON SHARES
Basic Shares Outstanding 27.76M shares 28.04M shares 29.10M shares
Diluted Shares Outstanding 28.19M shares 28.59M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.76M $188.8M $236.4M
YoY Change -69.36% -49.23% -9.37%
Cash & Equivalents $67.76M $188.8M $236.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $3.017B $2.816B $2.452B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.084B $3.005B $2.689B
YoY Change 19.82% 22.74% 11.49%
LONG-TERM ASSETS
Property, Plant & Equipment $35.22M $36.15M $37.65M
YoY Change 48.95% 50.64% 41.47%
Goodwill $16.40M $16.40M $16.40M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $51.70M $55.63M $57.12M
YoY Change 21.74% 69.42% 64.74%
Other Assets $193.6M $204.7M $285.9M
YoY Change -12.82% 14.39% 4511.39%
Total Long-Term Assets $503.4M $488.3M $551.1M
YoY Change 6.59% 18.19% 138.19%
TOTAL ASSETS
Total Short-Term Assets $3.084B $3.005B $2.689B
Total Long-Term Assets $503.4M $488.3M $551.1M
Total Assets $3.588B $3.493B $3.240B
YoY Change 17.77% 22.08% 22.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $296.3M $329.4M $244.5M
YoY Change 30.36% 48.43% 31.67%
Accrued Expenses $56.20M $53.06M $51.50M
YoY Change 8.83% 1.16% -1.91%
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 $478.9M $518.2M $403.9M
YoY Change 21.47% 34.92% 29.94%
LONG-TERM LIABILITIES
Long-Term Debt $881.9M $887.4M $962.0M
YoY Change -2.86% 9.01% 10.33%
Other Long-Term Liabilities $415.7M $269.4M $249.8M
YoY Change 107.9% 36.96% 23.86%
Total Long-Term Liabilities $1.298B $1.157B $1.212B
YoY Change 17.12% 14.45% 12.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $478.9M $518.2M $403.9M
Total Long-Term Liabilities $1.298B $1.157B $1.212B
Total Liabilities $1.650B $1.675B $1.616B
YoY Change 9.85% 20.09% 16.71%
SHAREHOLDERS EQUITY
Retained Earnings $1.706B $1.574B $1.345B
YoY Change 38.45% 37.96% 41.84%
Common Stock $350.9M $348.2M $347.8M
YoY Change 1.59% 1.35% 2.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $118.7M $104.0M $68.89M
YoY Change 261.14% 478.04% 137.09%
Treasury Stock Shares 2.708M shares 2.377M shares 1.638M shares
Shareholders Equity $1.938B $1.818B $1.624B
YoY Change
Total Liabilities & Shareholders Equity $3.588B $3.493B $3.240B
YoY Change 17.77% 22.08% 22.58%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $131.6M $136.8M $113.4M
YoY Change 44.59% 27.16% 41.55%
Depreciation, Depletion And Amortization $3.706M $3.641M $3.731M
YoY Change 1.26% 2.85% -4.33%
Cash From Operating Activities -$92.69M $9.214M $17.52M
YoY Change -55.47% -90.66% -160.62%
INVESTING ACTIVITIES
Capital Expenditures -$1.185M -$1.488M -$22.74M
YoY Change -22.19% 77.99% 610.69%
Acquisitions
YoY Change
Other Investing Activities -$6.450M -$3.341M $2.943M
YoY Change -63.43% -73.33% 320.43%
Cash From Investing Activities -$7.635M -$4.829M -$19.80M
YoY Change -60.15% -63.86% 661.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.67M -34.24M 17.49M
YoY Change -126.97% 439.83% -80.52%
NET CHANGE
Cash From Operating Activities -92.69M 9.214M 17.52M
Cash From Investing Activities -7.635M -4.829M -19.80M
Cash From Financing Activities -20.67M -34.24M 17.49M
Net Change In Cash -121.0M -29.85M 15.21M
YoY Change -19.68% -137.84% -73.91%
FREE CASH FLOW
Cash From Operating Activities -$92.69M $9.214M $17.52M
Capital Expenditures -$1.185M -$1.488M -$22.74M
Free Cash Flow -$91.50M $10.70M $40.26M
YoY Change -55.71% -89.24% -256.65%

Facts In Submission

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4405000 usd
us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
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us-gaap Deferred Compensation Arrangement With Individual Distribution Paid
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1466544000 usd
us-gaap Net Income Loss
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us-gaap Net Income Loss
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192473000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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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
PaymentsForOriginationOfMortgageLoansHeldForSale
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us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
1074370000 usd
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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mho Fair Value Adjustment Of Mortgage Loans Held For Sale
FairValueAdjustmentOfMortgageLoansHeldForSale
2875000 usd
mho Fair Value Adjustment Of Mortgage Loans Held For Sale
FairValueAdjustmentOfMortgageLoansHeldForSale
258000 usd
mho Fair Value Adjustment Of Mortgage Servicing Rights
FairValueAdjustmentOfMortgageServicingRights
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mho Fair Value Adjustment Of Mortgage Servicing Rights
FairValueAdjustmentOfMortgageServicingRights
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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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654000 usd
us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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583000 usd
us-gaap Depreciation
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us-gaap Depreciation
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us-gaap Amortization Of Financing Costs And Discounts
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1289000 usd
us-gaap Amortization Of Financing Costs And Discounts
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mho Loss On Sale Of Mortgage Servicing Rights
LossOnSaleOfMortgageServicingRights
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mho Loss On Sale Of Mortgage Servicing Rights
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
36241000 usd
us-gaap Increase Decrease In Customer Deposits
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us-gaap Increase Decrease In Customer Deposits
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us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
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us-gaap Increase Decrease In Other Operating Liabilities
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9894000 usd
us-gaap Increase Decrease In Other Operating Liabilities
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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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1050000 usd
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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
ProceedsFromSaleOfMortgageServicingRightsMSR
100000 usd
us-gaap Proceeds From Sale Of Mortgage Servicing Rights Msr
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4324000 usd
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Bank Debt
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47100000 usd
us-gaap Proceeds From Bank Debt
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47100000 usd
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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 Notes Payable
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In 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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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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110996000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
236368000 usd
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260810000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
188755000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
371806000 usd
us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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420000 usd
us-gaap Income Taxes Paid Net
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71702000 usd
us-gaap Income Taxes Paid Net
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60523000 usd
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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6186000 usd
mho Consolidated Inventory Not Owned Obligation
ConsolidatedInventoryNotOwnedObligation
2567000 usd
mho Distribution Of Single Family Lots From Unconsolidated Llcs
DistributionOfSingleFamilyLotsFromUnconsolidatedLlcs
10383000 usd
mho Distribution Of Single Family Lots From Unconsolidated Llcs
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us-gaap Basis Of Accounting
BasisOfAccounting
<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, 2021 (the “2021 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 2021 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 became effective on March 12, 2020 and can be applied prospectively through December 31, 2022. In January 2021, the FASB issued Accounting Standards Update 2021-01, “Reference Rate Reform (Topic 848): Scope” (“ASU 2021-01”), which clarified the scope and application of the original guidance. We plan to adopt ASU 2020-04 and ASU 2021-01 when LIBOR is discontinued. We do not expect the adoption of this guidance to 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 June 30, 2022 as compared to those disclosed in our 2021 Form 10-K.</span></div>
CY2022Q2 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
1136380000 usd
CY2021Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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1125738000 usd
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10524000 usd
CY2021Q4 us-gaap Inventory Land Held For Sale
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4312000 usd
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1514965000 usd
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11977000 usd
CY2021Q4 mho Model Home Accumulated Depreciation
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12023000 usd
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56050000 usd
CY2021Q4 mho Inventory Model Homes And Furnishings
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59268000 usd
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CY2021Q4 mho Community Development District
CommunityDevelopmentDistrict
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52918000 usd
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257000000 usd
CY2021Q4 mho Number Of Speculative Homes
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1266
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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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18618000 usd
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14863000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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17643000 usd
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mho Increasedecreaseininvestmentsinunconsolidatedjointventuresandothersimilararrangements
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CY2021Q4 mho Equityinvestedin Ll Cs
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us-gaap Income Loss From Equity Method Investments
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CY2022Q2 mho Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
7082000 usd
CY2021Q4 mho Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
782000 usd
CY2022Q2 mho Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
562101000 usd
CY2021Q4 mho Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
228831000 usd
CY2022Q2 mho Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments
ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments
570000000 usd
CY2021Q4 mho Forward Sales Of Mortgage Backed Securities Related To Uncommitted Interest Rate Lock Commitments
ForwardSalesOfMortgageBackedSecuritiesRelatedToUncommittedInterestRateLockCommitments
223000000 usd
CY2022Q2 mho Best Effort Contracts And Related Mortgage Loans Held For Sale
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CY2021Q4 mho Best Effort Contracts And Related Mortgage Loans Held For Sale
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3785000 usd
CY2022Q2 mho Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale
188000000 usd
CY2021Q4 mho Forward Sales Of Mortgage Backed Securities Related To Mortgage Loans Held For Sale
ForwardSalesOfMortgageBackedSecuritiesRelatedToMortgageLoansHeldForSale
251000000 usd
CY2022Q2 mho Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
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184620000 usd
CY2021Q4 mho Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
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263088000 usd
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CY2021Q2 mho Gain Loss On Assets And Liabilities Measured On Recurring Basis
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1421000 usd
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
GainLossOnAssetsAndLiabilitiesMeasuredOnRecurringBasis
1622000 usd
CY2022Q2 us-gaap Asset Impairment Charges
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CY2022Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2021Q1 us-gaap Product Warranty Accrual
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CY2022Q2 mho Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
339700000 usd
CY2021Q4 mho Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
305000000 usd
CY2022Q2 mho Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
1100000 usd
CY2021Q4 mho Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
700000 usd
CY2022Q2 mho Loan Repurchase Guarantee Liability
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400000 usd
CY2021Q4 mho Loan Repurchase Guarantee Liability
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300000 usd
CY2022Q1 us-gaap Product Warranty Accrual
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29472000 usd
CY2022Q2 mho Letters Of Credit Outstanding Under Credit Facility
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105700000 usd
CY2021Q4 us-gaap Product Warranty Accrual
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CY2020Q4 us-gaap Product Warranty Accrual
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29012000 usd
CY2022Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5546000 usd
CY2021Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5586000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
10106000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
10412000 usd
CY2022Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
907000 usd
CY2021Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
248000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1178000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
611000 usd
CY2022Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5955000 usd
CY2021Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5380000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
11042000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
10155000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29970000 usd
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29880000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29970000 usd
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29880000 usd
CY2022Q2 mho Estimated Repair Costsfor Affected Homes
EstimatedRepairCostsforAffectedHomes
2300000 usd
CY2022Q2 mho Letters Of Credit And Bonds
LettersOfCreditAndBonds
426000000 usd
CY2022Q2 mho Outstanding Performance Bonds
OutstandingPerformanceBonds
315300000 usd
CY2022Q2 mho Performance Letters Of Credit Outstanding
PerformanceLettersOfCreditOutstanding
92900000 usd
CY2022Q2 mho Financial Letters Of Credit
FinancialLettersOfCredit
12900000 usd
CY2022Q2 mho Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts
12400000 usd
CY2022Q2 mho Financial Bonds
FinancialBonds
4900000 usd
CY2022Q2 us-gaap Purchase Options Land
PurchaseOptionsLand
1100000000 usd
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
700000 usd
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1200000 usd
CY2022Q2 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
1510000000 usd
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2022Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
444300000 usd
CY2022Q2 mho Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
290000000 usd
CY2021Q4 mho Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
325000000 usd
CY2022Q2 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
194600000 usd
CY2021Q4 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
266200000 usd
CY2022Q2 us-gaap Equity Restrictions
EquityRestrictions
553200000 usd
CY2021Q4 us-gaap Equity Restrictions
EquityRestrictions
487500000 usd
CY2022Q2 us-gaap Other Notes Payable
OtherNotesPayable
1000000 usd
CY2021Q4 us-gaap Other Notes Payable
OtherNotesPayable
4500000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
136838000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
107607000 usd
us-gaap Net Income Loss
NetIncomeLoss
228677000 usd
us-gaap Net Income Loss
NetIncomeLoss
192473000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28041000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29271000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28231000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29144000 shares
CY2022Q2 mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
246000 shares
CY2021Q2 mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
512000 shares
mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
287000 shares
mho Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
487000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
303000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
310000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
308000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
304000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28590000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30093000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28826000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29935000 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.88
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.60
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.79
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.58
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.43
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
908000 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
784000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3000 shares
CY2022Q2 us-gaap Revenues
Revenues
1040654000 usd
CY2021Q2 us-gaap Revenues
Revenues
961040000 usd
us-gaap Revenues
Revenues
1901465000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45300000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33700000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249 rate
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238 rate
CY2022Q2 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1000000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
900000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
75700000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
59100000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249 rate
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.235 rate
us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2300000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2000000 usd
us-gaap Revenues
Revenues
1789816000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
182865000 usd
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
141714000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
305770000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
253011000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
693000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
452000 usd
us-gaap Interest Expense
InterestExpense
1364000 usd
us-gaap Interest Expense
InterestExpense
1628000 usd
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1000 usd
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
35000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
195000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
182173000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
141297000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
304423000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
251578000 usd
CY2022Q2 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
56175000 usd
CY2022Q2 mho Inventory Segments
InventorySegments
2760090000 usd
CY2022Q2 us-gaap Equity Method Investments
EquityMethodInvestments
55625000 usd
CY2022Q2 mho Other Combined Assets
OtherCombinedAssets
621434000 usd
CY2022Q2 us-gaap Assets
Assets
3493324000 usd
CY2021Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
52918000 usd
CY2021Q4 mho Inventory Segments
InventorySegments
2399516000 usd
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
57121000 usd
CY2021Q4 mho Other Combined Assets
OtherCombinedAssets
730298000 usd
CY2021Q4 us-gaap Assets
Assets
3239853000 usd
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2022Q1 mho Stock Repurchase Program Authorized Amount Increasedecrease
StockRepurchaseProgramAuthorizedAmountIncreasedecrease
100000000 usd
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000 usd
CY2022Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
600000 shares
CY2022Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
24800000 usd
CY2022Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
108200000 usd
CY2022Q2 us-gaap Revenues
Revenues
1040654000 usd
CY2021Q2 us-gaap Revenues
Revenues
961040000 usd
us-gaap Revenues
Revenues
1901465000 usd
us-gaap Revenues
Revenues
1789816000 usd
CY2022Q2 us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
18300000 usd
CY2021Q2 us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
2700000 usd
us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
26500000 usd
us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
3900000 usd

Files In Submission

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0000799292-22-000057.txt Edgar Link pending
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