$MTH
Meritage Homes CORP

2012 Q4 Form 10-Q Financial Statement

#000083307912000033 Filed on October 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $364.6M $342.6M $217.5M
YoY Change 48.21% 57.51% -6.96%
Cost Of Revenue $322.1M $305.7M $198.4M
YoY Change 41.83% 54.08% -5.93%
Gross Profit $68.97M $62.42M $37.94M
YoY Change 107.82% 64.52% 65.69%
Gross Profit Margin 18.92% 18.22% 17.44%
Selling, General & Admin $17.70M $45.06M $36.17M
YoY Change 0.57% 24.58% 130.41%
% of Gross Profit 25.66% 72.19% 95.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.300M $2.300M $1.700M
YoY Change 21.05% 35.29% -19.05%
% of Gross Profit 3.33% 3.68% 4.48%
Operating Expenses $16.60M $45.06M $36.17M
YoY Change -9.78% 24.58% 141.16%
Operating Profit $52.37M $24.68M $7.212M
YoY Change 254.13% 242.25% -8.71%
Interest Expense -$1.900M $5.009M $7.517M
YoY Change -64.81% -33.36% -204.4%
% of Operating Profit -3.63% 20.29% 104.23%
Other Income/Expense, Net -$8.276M $876.0K
YoY Change -1044.75%
Pretax Income $23.60M $6.986M -$3.075M
YoY Change -303.38% -327.19% -539.29%
Income Tax $8.400M $202.0K $160.0K
% Of Pretax Income 35.59% 2.89%
Net Earnings $95.13M $6.784M -$3.235M
YoY Change -907.95% -309.71% -369.58%
Net Earnings / Revenue 26.09% 1.98% -1.49%
Basic Earnings Per Share $2.67 $0.19 -$0.10
Diluted Earnings Per Share $2.49 $0.19 -$0.10
COMMON SHARES
Basic Shares Outstanding 35.59M shares 35.22M shares 32.42M shares
Diluted Shares Outstanding 35.76M shares 32.42M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $170.5M $305.0M $157.1M
YoY Change -1.79% 94.14% 8.12%
Cash & Equivalents $170.5M $305.0M $157.1M
Short-Term Investments
Other Short-Term Assets $26.50M $26.00M $16.90M
YoY Change 47.22% 53.85% 46.96%
Inventory $1.113B $1.005B $798.1M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.331B $1.353B $991.7M
YoY Change 30.2% 36.38% 7.51%
LONG-TERM ASSETS
Property, Plant & Equipment $15.72M $14.11M $14.80M
YoY Change 16.51% -4.65% -1.99%
Goodwill $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $98.20M $78.60M $199.8M
YoY Change -38.04% -60.66% -27.82%
Other Assets $116.9M $23.00M $11.10M
YoY Change 866.12% 107.21% 24.72%
Total Long-Term Assets $245.1M $128.7M $241.8M
YoY Change 22.85% -46.77% -24.03%
TOTAL ASSETS
Total Short-Term Assets $1.331B $1.353B $991.7M
Total Long-Term Assets $245.1M $128.7M $241.8M
Total Assets $1.576B $1.481B $1.234B
YoY Change 29.0% 20.08% -0.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.80M $52.10M $38.90M
YoY Change 32.1% 33.93% 31.86%
Accrued Expenses $93.00M $90.70M $79.30M
YoY Change 21.73% 14.38% -8.75%
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 $158.6M $162.5M $128.2M
YoY Change 25.87% 26.76% -2.66%
LONG-TERM LIABILITIES
Long-Term Debt $722.8M $722.7M $606.3M
YoY Change 19.2% 19.2% 0.12%
Other Long-Term Liabilities $1.300M
YoY Change -67.5%
Total Long-Term Liabilities $722.8M $722.7M $607.6M
YoY Change 19.2% 18.94% -0.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $158.6M $162.5M $128.2M
Total Long-Term Liabilities $722.8M $722.7M $607.6M
Total Liabilities $881.4M $885.1M $735.8M
YoY Change 20.33% 20.3% -0.76%
SHAREHOLDERS EQUITY
Retained Earnings $303.6M $208.5M
YoY Change 52.99%
Common Stock $390.6M $387.6M
YoY Change -18.5%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00
YoY Change -100.0%
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $694.2M $596.1M $497.7M
YoY Change
Total Liabilities & Shareholders Equity $1.576B $1.481B $1.234B
YoY Change 29.0% 20.08% -0.58%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $95.13M $6.784M -$3.235M
YoY Change -907.95% -309.71% -369.58%
Depreciation, Depletion And Amortization $2.300M $2.300M $1.700M
YoY Change 21.05% 35.29% -19.05%
Cash From Operating Activities -$88.20M -$27.40M -$18.50M
YoY Change 285.15% 48.11% -10.19%
INVESTING ACTIVITIES
Capital Expenditures -$3.800M -$2.700M -$1.400M
YoY Change 123.53% 92.86% 27.27%
Acquisitions
YoY Change
Other Investing Activities -$43.20M $41.20M $9.500M
YoY Change -207.2% 333.68% -8.65%
Cash From Investing Activities -$46.90M $38.40M $7.900M
YoY Change -221.19% 386.08% -13.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 600.0K 212.1M 0.000
YoY Change -25.0% -100.0%
NET CHANGE
Cash From Operating Activities -88.20M -27.40M -18.50M
Cash From Investing Activities -46.90M 38.40M 7.900M
Cash From Financing Activities 600.0K 212.1M 0.000
Net Change In Cash -134.5M 223.1M -10.60M
YoY Change -910.24% -2204.72% -6.19%
FREE CASH FLOW
Cash From Operating Activities -$88.20M -$27.40M -$18.50M
Capital Expenditures -$3.800M -$2.700M -$1.400M
Free Cash Flow -$84.40M -$24.70M -$17.10M
YoY Change 298.11% 44.44% -12.31%

Facts In Submission

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InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
12008000 USD
CY2011Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
11088000 USD
CY2012Q3 us-gaap Land Available For Sale
LandAvailableForSale
24619000 USD
CY2011Q4 us-gaap Land Available For Sale
LandAvailableForSale
29908000 USD
CY2012Q3 us-gaap Land Sales
LandSales
7763000 USD
CY2011Q3 us-gaap Land Sales
LandSales
0 USD
us-gaap Land Sales
LandSales
100000 USD
us-gaap Land Sales
LandSales
8846000 USD
CY2012Q3 us-gaap Land Under Purchase Options Not Recorded
LandUnderPurchaseOptionsNotRecorded
170940000 USD
CY2012Q3 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
0 USD
CY2012Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
14740000 USD
CY2011Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
11411000 USD
CY2011Q4 us-gaap Liabilities
Liabilities
732466000 USD
CY2012Q3 us-gaap Liabilities
Liabilities
885135000 USD
CY2012Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1481202000 USD
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1221378000 USD
CY2012Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
40000000 USD
CY2012Q3 us-gaap Litigation Reserve
LitigationReserve
16177000 USD
CY2011Q4 us-gaap Litigation Reserve
LitigationReserve
10157000 USD
CY2012Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
13500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
192945000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1831000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
102533000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
70744000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-51213000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-132252000 USD
us-gaap Treasury Stock Retired Par Value Method Amount
TreasuryStockRetiredParValueMethodAmount
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
426500000 USD
us-gaap Net Income Loss
NetIncomeLoss
-9332000 USD
us-gaap Net Income Loss
NetIncomeLoss
10035000 USD
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-3235000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
6784000 USD
CY2012Q3 us-gaap Notes Payable
NotesPayable
722675000 USD
CY2011Q4 us-gaap Notes Payable
NotesPayable
606409000 USD
CY2012Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
7 State
us-gaap Operating Income Loss
OperatingIncomeLoss
23081000 USD
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7212000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
24683000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
48063000 USD
CY2012Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
17737000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
18513000 USD
CY2012Q3 us-gaap Other Assets
OtherAssets
451386000 USD
CY2011Q4 us-gaap Other Assets
OtherAssets
379657000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8340000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2872000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7712000 USD
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
876000 USD
CY2011Q4 us-gaap Other Receivables
OtherReceivables
14932000 USD
CY2012Q3 us-gaap Other Receivables
OtherReceivables
16681000 USD
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Heldtomaturity Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetHeldtomaturitySecurities
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9500000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
109798000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
213896000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
427000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
406000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5429000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7139000 USD
CY2012Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
26032000 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
18047000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
87125000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
mth Distributions Of Earnings From Unconsolidated Entities
DistributionsOfEarningsFromUnconsolidatedEntities
4609000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
324000000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
190701000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
470000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
40000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1831000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3900000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14112000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13491000 USD
CY2011Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
14115000 USD
CY2011Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
14810000 USD
CY2012Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
20185000 USD
CY2011Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
13205000 USD
CY2010Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
11679000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
17836000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
9726000 USD
CY2011Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
2421000 USD
CY2012Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
4296000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
7073000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
32545000 USD
CY2012Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
11654000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
33819000 USD
CY2011Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
10848000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
615254000 USD
CY2012Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
342643000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
829088000 USD
CY2011Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
217534000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
315080000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15254000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12146000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
198442000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
208477000 USD
CY2012Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
34.75
CY2010Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
29265000 USD
CY2011Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
25929000 USD
CY2012Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
436000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
53876000 USD
CY2011Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
19708000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
67950000 USD
CY2012Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
25855000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6095000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5215000 USD
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2822000 USD
CY2011Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2114000 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
8950000 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1410014 shares
CY2011Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
23136000 USD
CY2012Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22973000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21243000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
8269000 USD
CY2012Q3 mth Land Impairments
LandImpairments
0 USD
CY2011Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2474000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
5934000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
406000 USD
CY2011Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
795000 USD
CY2012Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4673000 USD
CY2011Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1825000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5771000 USD
CY2012Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2166000 USD
CY2012Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
202000 USD
CY2011Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
160000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
560000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-4781000 USD
CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2645000 shares
CY2012Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
179832 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
259132 shares
CY2011Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
119600 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
87125000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3900000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1831000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
488912000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
596067000 USD
CY2011Q3 us-gaap Stockholders Equity
StockholdersEquity
497709000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
499995000 USD
CY2011Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
3075000 USD
CY2012Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
5652000 USD
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
7891250 shares
CY2012Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
188773000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2011 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7709000 USD
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32417000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32358000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34010000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35761000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32358000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33541000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32417000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35216000 shares
CY2011Q4 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
11048000 USD
CY2012Q3 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
16204000 USD
CY2012Q3 mth Aggregate Deposit Assets
AggregateDepositAssets
12983000 USD
mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
0 USD
mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
0 USD
CY2012Q3 mth Amounts In Transit From Title Companies For Home Closings
AmountsInTransitFromTitleCompaniesForHomeClosings
43200000 USD
CY2011Q4 mth Amounts In Transit From Title Companies For Home Closings
AmountsInTransitFromTitleCompaniesForHomeClosings
13100000 USD
CY2012Q3 mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
7323000 USD
mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
15620000 USD
CY2011Q3 mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
5443000 USD
mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
17233000 USD
CY2012Q3 mth Deposit Assets On Recorded Real Estate Not Owned
DepositAssetsOnRecordedRealEstateNotOwned
0 USD
CY2012Q3 mth Earnings From Unconsolidated Entities Net
EarningsFromUnconsolidatedEntitiesNet
2975000 USD
CY2011Q3 mth Land Impairments
LandImpairments
127000 USD
mth Land Impairments
LandImpairments
669000 USD
CY2011Q3 mth Earnings From Unconsolidated Entities Net
EarningsFromUnconsolidatedEntitiesNet
1797000 USD
mth Entity Operations In Number Of Regions
EntityOperationsInNumberOfRegions
3 Region
CY2012Q3 mth Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
4529000 USD
CY2011Q4 mth Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
4534000 USD
CY2011Q4 mth Equity Method Investment Summarized Financial Information Cash And Cash Equivalent
EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalent
4530000 USD
CY2012Q3 mth Equity Method Investment Summarized Financial Information Cash And Cash Equivalent
EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalent
3802000 USD
CY2012Q3 mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
3711000 USD
mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
8399000 USD
CY2011Q3 mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
3164000 USD
mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
8250000 USD
CY2011Q4 mth Equity Method Investment Summarized Financial Information Entity
EquityMethodInvestmentSummarizedFinancialInformationEntity
9351000 USD
CY2012Q3 mth Equity Method Investment Summarized Financial Information Entity
EquityMethodInvestmentSummarizedFinancialInformationEntity
9303000 USD
CY2012Q3 mth Equity Method Investment Summarized Financial Information Equity Other
EquityMethodInvestmentSummarizedFinancialInformationEquityOther
18738000 USD
CY2011Q4 mth Equity Method Investment Summarized Financial Information Equity Other
EquityMethodInvestmentSummarizedFinancialInformationEquityOther
18432000 USD
CY2012Q3 mth Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
3622000 USD
CY2011Q4 mth Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
3946000 USD
CY2011Q3 mth Fair Value Of Communities Impaired
FairValueOfCommunitiesImpaired
9395000 USD
mth Fair Value Of Communities Impaired
FairValueOfCommunitiesImpaired
16222000 USD
CY2011Q4 mth Finished Home Sites And Home Sites Under Development
FinishedHomeSitesAndHomeSitesUnderDevelopment
441242000 USD
CY2012Q3 mth Finished Home Sites And Home Sites Under Development
FinishedHomeSitesAndHomeSitesUnderDevelopment
524842000 USD
CY2012Q1 mth Future Infrastructure Improvement Costs
FutureInfrastructureImprovementCosts
9800000 USD
CY2012Q3 mth Home Closing Gross Profit
HomeClosingGrossProfit
62154000 USD
mth Home Closing Gross Profit
HomeClosingGrossProfit
108037000 USD
CY2011Q3 mth Home Closing Gross Profit
HomeClosingGrossProfit
38070000 USD
mth Home Closing Gross Profit
HomeClosingGrossProfit
149213000 USD
CY2011Q3 mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
358000 USD
mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
669000 USD
mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
0 USD
mth Impairment Of Real Estate And Joint Venture And Other Real Estate Related Impairments
ImpairmentOfRealEstateAndJointVentureAndOtherRealEstateRelatedImpairments
1573000 USD
CY2012Q3 mth Impairment Of Real Estate And Joint Venture And Other Real Estate Related Impairments
ImpairmentOfRealEstateAndJointVentureAndOtherRealEstateRelatedImpairments
417000 USD
CY2011Q3 mth Impairment Of Real Estate And Joint Venture And Other Real Estate Related Impairments
ImpairmentOfRealEstateAndJointVentureAndOtherRealEstateRelatedImpairments
1047000 USD
mth Impairment Of Real Estate And Joint Venture And Other Real Estate Related Impairments
ImpairmentOfRealEstateAndJointVentureAndOtherRealEstateRelatedImpairments
2301000 USD
CY2012Q2 mth Increase In Authorized Shares
IncreaseInAuthorizedShares
1200000 shares
CY2011Q4 mth Inventory Communities In Mothball Status
InventoryCommunitiesInMothballStatus
40549000 USD
CY2012Q3 mth Inventory Communities In Mothball Status
InventoryCommunitiesInMothballStatus
40560000 USD
CY2011Q4 mth Inventory Land Held For Development
InventoryLandHeldForDevelopment
55143000 USD
CY2012Q3 mth Inventory Land Held For Development
InventoryLandHeldForDevelopment
54981000 USD
CY2012Q3 mth Inventory Model Homes
InventoryModelHomes
55853000 USD
CY2011Q4 mth Inventory Model Homes
InventoryModelHomes
49892000 USD
CY2011Q3 mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
-127000 USD
CY2012Q3 mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
270000 USD
mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
13000 USD
mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
-118000 USD
mth Land Impairments
LandImpairments
127000 USD
CY2012Q3 mth Land Under Purchase Options Recorded And Unrecorded
LandUnderPurchaseOptionsRecordedAndUnrecorded
170940000 USD
mth Liquid Investment Maturity Period To Be Classified As Cash Equivalent Maximum
LiquidInvestmentMaturityPeriodToBeClassifiedAsCashEquivalentMaximum
P3M
CY2012Q3 mth Money Market Funds Invested In Short Term Government Securities
MoneyMarketFundsInvestedInShortTermGovernmentSecurities
77800000 USD
CY2011Q3 mth Number Of Communities Impaired
NumberOfCommunitiesImpaired
5 Communities
mth Number Of Communities Impaired
NumberOfCommunitiesImpaired
7 Communities
CY2012Q3 mth Number Of Communities To Which Homes Are Sold
NumberOfCommunitiesToWhichHomesAreSold
153 Communities
CY2010Q4 mth Number Of Lenders Filing Petition For Involuntary Bankruptcy
NumberOfLendersFilingPetitionForInvoluntaryBankruptcy
3
CY2012Q3 mth Number Of Lots Under Option Contracts Recorded
NumberOfLotsUnderOptionContractsRecorded
0 Lot
CY2012Q3 mth Number Of Lots Under Option Or Contracts
NumberOfLotsUnderOptionOrContracts
4081 Lot
CY2012Q3 mth Number Of Lots Under Option Or Contracts Not Recorded
NumberOfLotsUnderOptionOrContractsNotRecorded
4081 Lot
mth Other Operating Expenses
OtherOperatingExpenses
-371000 USD
mth Other Operating Expenses
OtherOperatingExpenses
-403000 USD
CY2012Q3 mth Percentage Of Wholly Owned Subsidiaries
PercentageOfWhollyOwnedSubsidiaries
1
CY2012Q3 mth Proceeds From Sale Of Land Held For Sale Under Contract
ProceedsFromSaleOfLandHeldForSaleUnderContract
3300000 USD
CY2012Q3 mth Real Estate Inventory Capitalized Interest Costs Related To Joint Venture Investments
RealEstateInventoryCapitalizedInterestCostsRelatedToJointVentureInvestments
750000 USD
CY2011Q4 mth Real Estate Inventory Capitalized Interest Costs Related To Joint Venture Investments
RealEstateInventoryCapitalizedInterestCostsRelatedToJointVentureInvestments
750000 USD
mth Real Estate Not Owned
RealEstateNotOwned
532000 USD
mth Real Estate Not Owned
RealEstateNotOwned
0 USD
mth Real Estate Related Impairments
RealEstateRelatedImpairments
1573000 USD
mth Real Estate Related Impairments
RealEstateRelatedImpairments
2301000 USD
CY2011Q4 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1738533 shares
CY2012Q3 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1650135 shares
CY2012Q3 mth Sureties Outstanding
SuretiesOutstanding
83356000 USD
CY2011Q4 mth Sureties Outstanding
SuretiesOutstanding
67515000 USD
CY2011Q4 mth Sureties Related To Uncompleted Contracts
SuretiesRelatedToUncompletedContracts
37284000 USD
CY2012Q3 mth Sureties Related To Uncompleted Contracts
SuretiesRelatedToUncompletedContracts
51196000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000833079
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
35590401 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Meritage Homes CORP

Files In Submission

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0000833079-12-000033-index.html Edgar Link pending
0000833079-12-000033.txt Edgar Link pending
0000833079-12-000033-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
mth-20120930.xml Edgar Link completed
mth-20120930.xsd Edgar Link pending
mth-20120930_cal.xml Edgar Link unprocessable
mth-20120930_def.xml Edgar Link unprocessable
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