$MTH
Meritage Homes CORP

2013 Q2 Form 10-Q Financial Statement

#000083307913000112 Filed on August 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $450.0M $282.1M
YoY Change 59.5% 28.15%
Cost Of Revenue $386.8M $253.8M
YoY Change 52.4% 27.67%
Gross Profit $95.05M $51.57M
YoY Change 84.33% 30.26%
Gross Profit Margin 21.13% 18.28%
Selling, General & Admin $53.63M $39.63M
YoY Change 35.32% 164.23%
% of Gross Profit 56.42% 76.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.500M $1.900M
YoY Change 31.58% 5.56%
% of Gross Profit 2.63% 3.68%
Operating Expenses $53.63M $39.63M
YoY Change 35.32% 189.3%
Operating Profit $48.92M $17.02M
YoY Change 187.49% -34.26%
Interest Expense $4.523M $6.338M
YoY Change -28.64% -200.6%
% of Operating Profit 9.25% 37.25%
Other Income/Expense, Net $685.0K $934.0K
YoY Change -26.66%
Pretax Income $38.53M $2.842M
YoY Change 1255.81% 280.46%
Income Tax $10.39M -$5.163M
% Of Pretax Income 26.96% -181.67%
Net Earnings $28.14M $8.005M
YoY Change 251.57% 1324.38%
Net Earnings / Revenue 6.25% 2.84%
Basic Earnings Per Share $0.78 $0.24
Diluted Earnings Per Share $0.74 $0.24
COMMON SHARES
Basic Shares Outstanding 36.15M shares 32.76M shares
Diluted Shares Outstanding 38.76M shares 33.10M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $218.0M $81.80M
YoY Change 166.5% -51.19%
Cash & Equivalents $218.0M $81.83M
Short-Term Investments
Other Short-Term Assets $30.00M $17.90M
YoY Change 67.6% 14.01%
Inventory $1.227B $955.2M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.505B $1.071B
YoY Change 40.6% 9.75%
LONG-TERM ASSETS
Property, Plant & Equipment $17.01M $14.00M
YoY Change 21.52% -5.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $102.7M $115.9M
YoY Change -11.39% -44.86%
Other Assets $120.5M $26.80M
YoY Change 349.63% 160.19%
Total Long-Term Assets $262.1M $173.1M
YoY Change 51.4% -30.82%
TOTAL ASSETS
Total Short-Term Assets $1.505B $1.071B
Total Long-Term Assets $262.1M $173.1M
Total Assets $1.767B $1.244B
YoY Change 42.1% 1.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $68.70M $53.60M
YoY Change 28.17% 71.25%
Accrued Expenses $108.7M $79.50M
YoY Change 36.73% 2.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $218.6M $150.9M
YoY Change 44.86% 26.17%
LONG-TERM LIABILITIES
Long-Term Debt $798.2M $596.1M
YoY Change 33.9% -1.65%
Other Long-Term Liabilities $200.0K
YoY Change -84.62%
Total Long-Term Liabilities $798.2M $596.3M
YoY Change 33.86% -1.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $218.6M $150.9M
Total Long-Term Liabilities $798.2M $596.3M
Total Liabilities $1.017B $747.2M
YoY Change 36.08% 2.78%
SHAREHOLDERS EQUITY
Retained Earnings $343.8M
YoY Change
Common Stock $406.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $750.7M $496.7M
YoY Change
Total Liabilities & Shareholders Equity $1.767B $1.244B
YoY Change 42.1% 1.47%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $28.14M $8.005M
YoY Change 251.57% 1324.38%
Depreciation, Depletion And Amortization $2.500M $1.900M
YoY Change 31.58% 5.56%
Cash From Operating Activities -$19.40M -$49.50M
YoY Change -60.81% 511.11%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M -$2.100M
YoY Change 47.62% -19.23%
Acquisitions
YoY Change
Other Investing Activities -$7.600M $63.10M
YoY Change -112.04% -15.3%
Cash From Investing Activities -$10.50M $61.00M
YoY Change -117.21% -15.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -77.00M -20.30M
YoY Change 279.31% -6866.67%
NET CHANGE
Cash From Operating Activities -19.40M -49.50M
Cash From Investing Activities -10.50M 61.00M
Cash From Financing Activities -77.00M -20.30M
Net Change In Cash -106.9M -8.800M
YoY Change 1114.77% -113.71%
FREE CASH FLOW
Cash From Operating Activities -$19.40M -$49.50M
Capital Expenditures -$3.100M -$2.100M
Free Cash Flow -$16.30M -$47.40M
YoY Change -65.61% 761.82%

Facts In Submission

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CY2013Q2 us-gaap Inventory Finished Homes
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96076000 USD
CY2013Q2 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
304159000 USD
CY2012Q4 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
192948000 USD
CY2013Q2 us-gaap Inventory Real Estate
InventoryRealEstate
1227229000 USD
CY2012Q4 us-gaap Inventory Real Estate
InventoryRealEstate
1113187000 USD
CY2013Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
10698000 USD
CY2012Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
12085000 USD
CY2012Q4 us-gaap Land Available For Sale
LandAvailableForSale
21650000 USD
CY2013Q2 us-gaap Land Available For Sale
LandAvailableForSale
15104000 USD
us-gaap Land Sales
LandSales
19635000 USD
us-gaap Land Sales
LandSales
1083000 USD
CY2012Q2 us-gaap Land Sales
LandSales
755000 USD
CY2013Q2 us-gaap Land Sales
LandSales
13910000 USD
CY2013Q2 us-gaap Land Under Purchase Options Not Recorded
LandUnderPurchaseOptionsNotRecorded
400143000 USD
CY2013Q2 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
0 USD
CY2012Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
37466000 USD
CY2013Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
42899000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
881352000 USD
CY2013Q2 us-gaap Liabilities
Liabilities
1016796000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1575562000 USD
CY2013Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1767477000 USD
CY2013Q2 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
CY2013Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
60000000 USD
CY2013Q2 us-gaap Litigation Reserve
LitigationReserve
16703000 USD
CY2012Q4 us-gaap Litigation Reserve
LitigationReserve
16067000 USD
CY2012Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
13500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19192000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
83121000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
32313000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16038000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19521000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-104907000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
8005000 USD
us-gaap Net Income Loss
NetIncomeLoss
3251000 USD
us-gaap Net Income Loss
NetIncomeLoss
40184000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
28143000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3251000 USD
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
8005000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
28536000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
40966000 USD
CY2013Q2 us-gaap Notes Payable
NotesPayable
798215000 USD
CY2012Q4 us-gaap Notes Payable
NotesPayable
722797000 USD
CY2013Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
6 State
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
48923000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
73702000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
23380000 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
17017000 USD
CY2013Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
24273000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
23014000 USD
CY2012Q4 us-gaap Other Assets
OtherAssets
435939000 USD
CY2013Q2 us-gaap Other Assets
OtherAssets
507838000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1155000 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
685000 USD
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
934000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
4022000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1202000 USD
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q4 us-gaap Other Receivables
OtherReceivables
20290000 USD
CY2013Q2 us-gaap Other Receivables
OtherReceivables
30246000 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
1403000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5334000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
76938000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
76502000 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2013Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
26488000 USD
CY2013Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
30028000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
175000000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
300000000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
71024000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
120201000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
364000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
32000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1222000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10916000 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17013000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15718000 USD
CY2011Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
14810000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
17836000 USD
CY2012Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
15908000 USD
CY2013Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
24198000 USD
CY2012Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
21600000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
26294000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
11023000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
5430000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
6023000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
3052000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
25368000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
11318000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
22165000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
12642000 USD
CY2013Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
449950000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
486445000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
786385000 USD
CY2012Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
282095000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
315080000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
102822000 USD
CY2013Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
43265000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
38938000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
303605000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
343789000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
42095000 USD
CY2012Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
23118000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
57059000 USD
CY2013Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31180000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3273000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3941000 USD
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2097000 USD
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1620000 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
8950000 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
935556 shares
CY2012Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21243000 USD
CY2013Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21384000 USD
CY2011Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
23136000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21844000 USD
CY2012Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22064000 USD
CY2012Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21705000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
5457000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2706000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
5498000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2536000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3605000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5237000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3166000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2074000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
322100 shares
CY2012Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
10600 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
79300.0 shares
CY2013Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
199827 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1222000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
10916000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
750681000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
694210000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
488912000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
496658000 USD
CY2012Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
3407000 USD
CY2013Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
15620000 USD
CY2013Q2 mth Earnings From Financial Services Unconsolidated Entities And Other Net
EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet
3486000 USD
mth Earnings From Financial Services Unconsolidated Entities And Other Net
EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet
3925000 USD
CY2012Q2 mth Earnings From Financial Services Unconsolidated Entities And Other Net
EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet
2319000 USD
CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
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
3057000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7705000 USD
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33104000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33086000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38662000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38758000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35976000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32694000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32755000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36151000 shares
CY2012Q4 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
19954000 USD
CY2013Q2 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
23760000 USD
CY2013Q2 mth Aggregate Deposit Assets
AggregateDepositAssets
21712000 USD
CY2012Q2 mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
0 USD
CY2013Q2 mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
4916 USD
mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
0 USD
mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
6772 USD
CY2012Q4 mth Amounts In Transit From Title Companies For Home Closings
AmountsInTransitFromTitleCompaniesForHomeClosings
30400000 USD
CY2013Q2 mth Amounts In Transit From Title Companies For Home Closings
AmountsInTransitFromTitleCompaniesForHomeClosings
57800000 USD
mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
13349000 USD
CY2012Q2 mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
5085000 USD
CY2013Q2 mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
7502000 USD
mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
9910000 USD
CY2013Q2 mth Deposit Assets On Recorded Real Estate Not Owned
DepositAssetsOnRecordedRealEstateNotOwned
0 USD
mth Distributions Of Capital From Unconsolidated Entities
DistributionsOfCapitalFromUnconsolidatedEntities
74000 USD
mth Distributions Of Capital From Unconsolidated Entities
DistributionsOfCapitalFromUnconsolidatedEntities
0 USD
CY2012Q2 mth Earnings From Other Unconsolidated Entities Net
EarningsFromOtherUnconsolidatedEntitiesNet
-91000 USD
CY2013Q2 mth Earnings From Other Unconsolidated Entities Net
EarningsFromOtherUnconsolidatedEntitiesNet
-120000 USD
mth Earnings From Unconsolidated Entities Net
EarningsFromUnconsolidatedEntitiesNet
5998000 USD
mth Earnings From Unconsolidated Entities Net
EarningsFromUnconsolidatedEntitiesNet
3651000 USD
CY2013Q2 mth Entity Operations In Number Of Regions
EntityOperationsInNumberOfRegions
3 Region
CY2013Q2 mth Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
4667000 USD
CY2012Q4 mth Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
4748000 USD
CY2012Q4 mth Equity Method Investment Summarized Financial Information Cash And Cash Equivalent
EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalent
7650000 USD
CY2013Q2 mth Equity Method Investment Summarized Financial Information Cash And Cash Equivalent
EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalent
5057000 USD
CY2012Q2 mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
2502000 USD
mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
6210000 USD
CY2013Q2 mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
3833000 USD
mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
4539000 USD
CY2013Q2 mth Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
3204000 USD
CY2012Q4 mth Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
3478000 USD
CY2013Q2 mth Financial Services Operating Profit
FinancialServicesOperatingProfit
4165000 USD
CY2012Q2 mth Financial Services Operating Profit
FinancialServicesOperatingProfit
2177000 USD
mth Financial Services Operating Profit
FinancialServicesOperatingProfit
3758000 USD
mth Financial Services Operating Profit
FinancialServicesOperatingProfit
7221000 USD
CY2012Q4 mth Finished Home Sites And Home Sites Under Development
FinishedHomeSitesAndHomeSitesUnderDevelopment
634106000 USD
CY2013Q2 mth Finished Home Sites And Home Sites Under Development
FinishedHomeSitesAndHomeSitesUnderDevelopment
644315000 USD
CY2012Q2 mth Future Infrastructure Improvement Costs
FutureInfrastructureImprovementCosts
9800000 USD
CY2013Q2 mth Home Closing Gross Profit
HomeClosingGrossProfit
93605000 USD
mth Home Closing Gross Profit
HomeClosingGrossProfit
157965000 USD
CY2012Q2 mth Home Closing Gross Profit
HomeClosingGrossProfit
51946000 USD
mth Home Closing Gross Profit
HomeClosingGrossProfit
87059000 USD
mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
1200000 USD
CY2012Q2 mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
863000 USD
CY2013Q2 mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
146000 USD
mth Impairment Charges Related To Communities
ImpairmentChargesRelatedToCommunities
192000 USD
CY2013Q2 mth Inventory Communities In Mothball Status
InventoryCommunitiesInMothballStatus
39329000 USD
CY2012Q4 mth Inventory Communities In Mothball Status
InventoryCommunitiesInMothballStatus
38488000 USD
CY2012Q4 mth Inventory Land Held For Development
InventoryLandHeldForDevelopment
56118000 USD
CY2013Q2 mth Inventory Land Held For Development
InventoryLandHeldForDevelopment
57650000 USD
CY2012Q4 mth Inventory Model Homes
InventoryModelHomes
62411000 USD
CY2013Q2 mth Inventory Model Homes
InventoryModelHomes
70596000 USD
mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
1622000 USD
CY2012Q2 mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
-380000 USD
CY2013Q2 mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
1447000 USD
mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
-257000 USD
CY2013Q2 mth Land Under Purchase Options Recorded And Unrecorded
LandUnderPurchaseOptionsRecordedAndUnrecorded
400143000 USD
mth Liquid Investment Maturity Period To Be Classified As Cash Equivalent Maximum
LiquidInvestmentMaturityPeriodToBeClassifiedAsCashEquivalentMaximum
P3M
CY2012Q4 mth Money Market Funds Invested In Short Term Government Securities
MoneyMarketFundsInvestedInShortTermGovernmentSecurities
300000 USD
CY2013Q2 mth Money Market Funds Invested In Short Term Government Securities
MoneyMarketFundsInvestedInShortTermGovernmentSecurities
10000000 USD
mth Noncontrollinginterestacquisition
Noncontrollinginterestacquisition
-257000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000833079
CY2013Q2 mth Number Of Communities To Which Homes Are Sold
NumberOfCommunitiesToWhichHomesAreSold
165 Communities
CY2010Q4 mth Number Of Lenders Filing Petition For Involuntary Bankruptcy
NumberOfLendersFilingPetitionForInvoluntaryBankruptcy
3 lender
CY2013Q2 mth Number Of Lots Under Option Contracts Recorded
NumberOfLotsUnderOptionContractsRecorded
0 Lot
CY2013Q2 mth Number Of Lots Under Option Or Contracts
NumberOfLotsUnderOptionOrContracts
10174 Lot
CY2013Q2 mth Number Of Lots Under Option Or Contracts Not Recorded
NumberOfLotsUnderOptionOrContractsNotRecorded
10174 Lot
CY2013Q2 mth Percentage Of Wholly Owned Subsidiaries
PercentageOfWhollyOwnedSubsidiaries
1.00
CY2013Q2 mth Real Estate Inventory Capitalized Interest Costs Related To Joint Venture Investments
RealEstateInventoryCapitalizedInterestCostsRelatedToJointVentureInvestments
532000 USD
CY2012Q4 mth Real Estate Inventory Capitalized Interest Costs Related To Joint Venture Investments
RealEstateInventoryCapitalizedInterestCostsRelatedToJointVentureInvestments
539000 USD
mth Real Estate Not Owned
RealEstateNotOwned
233000 USD
mth Real Estate Not Owned
RealEstateNotOwned
0 USD
CY2012Q4 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1615235 shares
CY2013Q2 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1367985 shares
CY2013Q2 mth Supersedeas Bond
SupersedeasBond
16050604 USD
CY2012Q4 mth Sureties Outstanding
SuretiesOutstanding
87392000 USD
CY2013Q2 mth Sureties Outstanding
SuretiesOutstanding
135842000 USD
CY2013Q2 mth Sureties Related To Uncompleted Contracts
SuretiesRelatedToUncompletedContracts
62203000 USD
CY2012Q4 mth Sureties Related To Uncompleted Contracts
SuretiesRelatedToUncompletedContracts
39023000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
36216251 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Meritage Homes CORP

Files In Submission

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0000833079-13-000112-index-headers.html Edgar Link pending
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