$MTH
Meritage Homes CORP

2014 Q2 Form 10-Q Financial Statement

#000083307914000110 Filed on July 31, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $505.6M $450.0M
YoY Change 12.37% 59.5%
Cost Of Revenue $432.8M $386.8M
YoY Change 11.89% 52.4%
Gross Profit $110.0M $95.05M
YoY Change 15.73% 84.33%
Gross Profit Margin 21.76% 21.13%
Selling, General & Admin $60.68M $53.63M
YoY Change 13.14% 35.32%
% of Gross Profit 55.16% 56.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.700M $2.500M
YoY Change 8.0% 31.58%
% of Gross Profit 2.45% 2.63%
Operating Expenses $60.68M $53.63M
YoY Change 13.14% 35.32%
Operating Profit $56.68M $48.92M
YoY Change 15.86% 187.49%
Interest Expense $1.396M $4.523M
YoY Change -69.14% -28.64%
% of Operating Profit 2.46% 9.25%
Other Income/Expense, Net $3.749M $685.0K
YoY Change 447.3% -26.66%
Pretax Income $55.24M $38.53M
YoY Change 43.35% 1255.81%
Income Tax $20.16M $10.39M
% Of Pretax Income 36.49% 26.96%
Net Earnings $35.08M $28.14M
YoY Change 24.65% 251.57%
Net Earnings / Revenue 6.94% 6.25%
Basic Earnings Per Share $0.90 $0.78
Diluted Earnings Per Share $0.85 $0.74
COMMON SHARES
Basic Shares Outstanding 39.12M shares 36.15M shares
Diluted Shares Outstanding 41.60M shares 38.76M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $230.6M $218.0M
YoY Change 5.78% 166.5%
Cash & Equivalents $230.6M $218.0M
Short-Term Investments
Other Short-Term Assets $42.50M $30.00M
YoY Change 41.67% 67.6%
Inventory $1.638B $1.227B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.962B $1.505B
YoY Change 30.32% 40.6%
LONG-TERM ASSETS
Property, Plant & Equipment $28.83M $17.01M
YoY Change 69.45% 21.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $69.80M $102.7M
YoY Change -32.04% -11.39%
Other Assets $68.30M $120.5M
YoY Change -43.32% 349.63%
Total Long-Term Assets $230.9M $262.1M
YoY Change -11.9% 51.4%
TOTAL ASSETS
Total Short-Term Assets $1.962B $1.505B
Total Long-Term Assets $230.9M $262.1M
Total Assets $2.193B $1.767B
YoY Change 24.06% 42.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $84.00M $68.70M
YoY Change 22.27% 28.17%
Accrued Expenses $151.8M $108.7M
YoY Change 39.65% 36.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $263.3M $218.6M
YoY Change 20.45% 44.86%
LONG-TERM LIABILITIES
Long-Term Debt $904.8M $798.2M
YoY Change 13.36% 33.9%
Other Long-Term Liabilities $4.300M
YoY Change
Total Long-Term Liabilities $909.1M $798.2M
YoY Change 13.89% 33.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $263.3M $218.6M
Total Long-Term Liabilities $909.1M $798.2M
Total Liabilities $1.172B $1.017B
YoY Change 15.3% 36.08%
SHAREHOLDERS EQUITY
Retained Earnings $488.5M $343.8M
YoY Change 42.1%
Common Stock $531.8M $406.9M
YoY Change 30.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $1.020B $750.7M
YoY Change
Total Liabilities & Shareholders Equity $2.193B $1.767B
YoY Change 24.06% 42.1%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $35.08M $28.14M
YoY Change 24.65% 251.57%
Depreciation, Depletion And Amortization $2.700M $2.500M
YoY Change 8.0% 31.58%
Cash From Operating Activities -$41.10M -$19.40M
YoY Change 111.86% -60.81%
INVESTING ACTIVITIES
Capital Expenditures -$4.900M -$3.100M
YoY Change 58.06% 47.62%
Acquisitions
YoY Change
Other Investing Activities $17.60M -$7.600M
YoY Change -331.58% -112.04%
Cash From Investing Activities $12.70M -$10.50M
YoY Change -220.95% -117.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.000M -77.00M
YoY Change -97.4% 279.31%
NET CHANGE
Cash From Operating Activities -41.10M -19.40M
Cash From Investing Activities 12.70M -10.50M
Cash From Financing Activities -2.000M -77.00M
Net Change In Cash -30.40M -106.9M
YoY Change -71.56% 1114.77%
FREE CASH FLOW
Cash From Operating Activities -$41.10M -$19.40M
Capital Expenditures -$4.900M -$3.100M
Free Cash Flow -$36.20M -$16.30M
YoY Change 122.09% -65.61%

Facts In Submission

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CY2014Q2 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
4999000 USD
CY2013Q4 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
289000 USD
CY2013Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
42068000 USD
CY2014Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
26743000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
1161969000 USD
CY2014Q2 us-gaap Liabilities
Liabilities
1172359000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2192678000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2003361000 USD
CY2014Q2 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
CY2013Q4 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
0 USD
CY2014Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
CY2014Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
200000000 USD
CY2013Q4 us-gaap Litigation Reserve
LitigationReserve
16463000 USD
CY2014Q2 us-gaap Litigation Reserve
LitigationReserve
16298000 USD
CY2012Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
13500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
83121000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
113321000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
17823000 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
-174650000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19521000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
28143000 USD
us-gaap Net Income Loss
NetIncomeLoss
40184000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
35079000 USD
us-gaap Net Income Loss
NetIncomeLoss
60456000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
61213000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
28536000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
35457000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
40966000 USD
CY2013Q4 us-gaap Notes Payable
NotesPayable
905055000 USD
CY2014Q2 us-gaap Notes Payable
NotesPayable
904771000 USD
CY2014Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
8 State
us-gaap Operating Income Loss
OperatingIncomeLoss
101627000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
48923000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
56684000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
73702000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
23058000 USD
CY2014Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
22976000 USD
CY2014Q2 us-gaap Other Assets
OtherAssets
485866000 USD
CY2013Q4 us-gaap Other Assets
OtherAssets
534829000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4397000 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3749000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1155000 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
685000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
4022000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
3955000 USD
CY2013Q4 us-gaap Other Receivables
OtherReceivables
38983000 USD
CY2014Q2 us-gaap Other Receivables
OtherReceivables
50695000 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
1403000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
35614000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
76938000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
233000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
116000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11864000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5787000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
257000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
39231000 USD
CY2014Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
42481000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
110420000 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
0 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
65388000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
32000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
146000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
707000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10916000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22099000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
28828000 USD
CY2012Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
21600000 USD
CY2014Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
44355000 USD
CY2014Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
38701000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
26294000 USD
CY2013Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
32992000 USD
CY2013Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
24198000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
11023000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
6023000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
13166000 USD
CY2014Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
7332000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
12642000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
25368000 USD
CY2014Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
14382000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
28638000 USD
CY2014Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
505604000 USD
CY2013Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
449950000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
913949000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
786385000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
102822000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
428069000 USD
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
488525000 USD
CY2014Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
45.75
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
67039000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
36105000 USD
CY2013Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31180000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
57059000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5264000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3941000 USD
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2097000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2853000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1100000 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
10050000 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1553578 shares
CY2013Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21971000 USD
CY2014Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
20882000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21844000 USD
CY2013Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21384000 USD
CY2012Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22064000 USD
CY2014Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21482000 USD
CY2014Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3859000 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
6624000 USD
CY2014Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
500000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
500000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
500000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
500000 USD
CY2014Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2759000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4737000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5035000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2666000 USD
CY2014Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
40245 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
322100 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
110420000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
10916000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
707000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
841392000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
1020319000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
694210000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
750681000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-114000 USD
CY2014Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
11205000 USD
CY2013Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
22902000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2013 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
0 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41487000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38662000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41598000 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
38904000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36151000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39118000 shares
CY2014Q2 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
36736000 USD
CY2013Q4 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
29992000 USD
CY2014Q2 mth Aggregate Deposit Assets
AggregateDepositAssets
59581000 USD
CY2014Q2 mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
0 USD
mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
0 USD
mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
6772 USD
CY2013Q2 mth Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
4916 USD
CY2014Q2 mth Amounts In Transit From Title Companies For Home Closings
AmountsInTransitFromTitleCompaniesForHomeClosings
42500000 USD
CY2013Q4 mth Amounts In Transit From Title Companies For Home Closings
AmountsInTransitFromTitleCompaniesForHomeClosings
26400000 USD
CY2013Q2 mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
7502000 USD
CY2014Q2 mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
7357000 USD
mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
13349000 USD
mth Corporate And Unallocated Income Expense
CorporateAndUnallocatedIncomeExpense
13333000 USD
CY2014Q2 mth Deposit Assets On Recorded Real Estate Not Owned
DepositAssetsOnRecordedRealEstateNotOwned
700000 USD
mth Distributions Of Capital From Unconsolidated Entities
DistributionsOfCapitalFromUnconsolidatedEntities
74000 USD
mth Distributions Of Capital From Unconsolidated Entities
DistributionsOfCapitalFromUnconsolidatedEntities
0 USD
mth Distributions Of Earnings From Unconsolidated Entities
DistributionsOfEarningsFromUnconsolidatedEntities
7236000 USD
mth Distributions Of Earnings From Unconsolidated Entities
DistributionsOfEarningsFromUnconsolidatedEntities
6119000 USD
mth Earnings From Financial Services Unconsolidated Entities And Other Net
EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet
4498000 USD
CY2014Q2 mth Earnings From Financial Services Unconsolidated Entities And Other Net
EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet
2297000 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
6273000 USD
CY2013Q2 mth Earnings From Other Unconsolidated Entities Net
EarningsFromOtherUnconsolidatedEntitiesNet
-120000 USD
mth Earnings From Other Unconsolidated Entities Net
EarningsFromOtherUnconsolidatedEntitiesNet
-230000 USD
CY2014Q2 mth Earnings From Other Unconsolidated Entities Net
EarningsFromOtherUnconsolidatedEntitiesNet
-61000 USD
mth Earnings From Other Unconsolidated Entities Net
EarningsFromOtherUnconsolidatedEntitiesNet
-275000 USD
mth Earnings From Unconsolidated Entities Net
EarningsFromUnconsolidatedEntitiesNet
4268000 USD
mth Earnings From Unconsolidated Entities Net
EarningsFromUnconsolidatedEntitiesNet
5998000 USD
CY2014Q2 mth Entity Operations In Number Of Regions
EntityOperationsInNumberOfRegions
3 Region
CY2014Q2 mth Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
3701000 USD
CY2013Q4 mth Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
2889000 USD
CY2013Q4 mth Equity Method Investment Summarized Financial Information Cash And Cash Equivalent
EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalent
7299000 USD
CY2014Q2 mth Equity Method Investment Summarized Financial Information Cash And Cash Equivalent
EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalent
3316000 USD
CY2014Q2 mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
3112000 USD
mth Equity Method Investment Summarized Financial Information Costs And Expenses
EquityMethodInvestmentSummarizedFinancialInformationCostsAndExpenses
5865000 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
6210000 USD
CY2014Q2 mth Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
3223000 USD
CY2013Q4 mth Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
3067000 USD
CY2014Q2 mth Financial Services Operating Profit
FinancialServicesOperatingProfit
3617000 USD
mth Financial Services Operating Profit
FinancialServicesOperatingProfit
6642000 USD
mth Financial Services Operating Profit
FinancialServicesOperatingProfit
7221000 USD
CY2013Q2 mth Financial Services Operating Profit
FinancialServicesOperatingProfit
4165000 USD
CY2013Q4 mth Finished Home Sites And Home Sites Under Development
FinishedHomeSitesAndHomeSitesUnderDevelopment
813135000 USD
CY2014Q2 mth Finished Home Sites And Home Sites Under Development
FinishedHomeSitesAndHomeSitesUnderDevelopment
890036000 USD
CY2012Q3 mth Future Infrastructure Improvement Costs
FutureInfrastructureImprovementCosts
9800000 USD
CY2014Q2 mth Home Closing Gross Profit
HomeClosingGrossProfit
109961000 USD
mth Home Closing Gross Profit
HomeClosingGrossProfit
157965000 USD
mth Home Closing Gross Profit
HomeClosingGrossProfit
202560000 USD
CY2013Q2 mth Home Closing Gross Profit
HomeClosingGrossProfit
93605000 USD
mth Increase Decreasein Real Estate Acquired Through Notes Payable
IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable
1388000 USD
mth Increase Decreasein Real Estate Acquired Through Notes Payable
IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable
1043000 USD
mth Increase Decreasein Real Estate Not Owned
IncreaseDecreaseinRealEstateNotOwned
0 USD
mth Increase Decreasein Real Estate Not Owned
IncreaseDecreaseinRealEstateNotOwned
4710000 USD
CY2014Q2 mth Inventory Communities In Mothball Status
InventoryCommunitiesInMothballStatus
23859000 USD
CY2013Q4 mth Inventory Communities In Mothball Status
InventoryCommunitiesInMothballStatus
28889000 USD
CY2013Q4 mth Inventory Land Held For Development
InventoryLandHeldForDevelopment
52100000 USD
CY2014Q2 mth Inventory Land Held For Development
InventoryLandHeldForDevelopment
51012000 USD
CY2014Q2 mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
42000 USD
mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
1622000 USD
CY2013Q2 mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
1447000 USD
mth Land Closing Gross Loss Profit
LandClosingGrossLossProfit
-985000 USD
CY2014Q2 mth Land Under Purchase Options Recorded And Unrecorded
LandUnderPurchaseOptionsRecordedAndUnrecorded
671214000 USD
CY2014Q2 mth Liabilities Related To Inventory Real Estate Not Owned
LiabilitiesRelatedToInventoryRealEstateNotOwned
4299000 USD
CY2013Q4 mth Liabilities Related To Inventory Real Estate Not Owned
LiabilitiesRelatedToInventoryRealEstateNotOwned
289000 USD
mth Liquid Investment Maturity Period To Be Classified As Cash Equivalent Maximum
LiquidInvestmentMaturityPeriodToBeClassifiedAsCashEquivalentMaximum
P3M
CY2014Q2 mth Money Market Funds Invested In Short Term Government Securities
MoneyMarketFundsInvestedInShortTermGovernmentSecurities
20300000 USD
CY2013Q4 mth Money Market Funds Invested In Short Term Government Securities
MoneyMarketFundsInvestedInShortTermGovernmentSecurities
68300000 USD
mth Noncontrollinginterestacquisition
Noncontrollinginterestacquisition
-257000 USD
CY2014Q2 mth Number Of Communities To Which Homes Are Sold
NumberOfCommunitiesToWhichHomesAreSold
175 Communities
mth Number Of Lenders Filing Petition For Involuntary Bankruptcy
NumberOfLendersFilingPetitionForInvoluntaryBankruptcy
3 lender
CY2014Q2 mth Number Of Lots Under Option Contracts Recorded
NumberOfLotsUnderOptionContractsRecorded
70 Lot
CY2014Q2 mth Number Of Lots Under Option Or Contracts
NumberOfLotsUnderOptionOrContracts
10988 Lot
CY2014Q2 mth Number Of Lots Under Option Or Contracts Not Recorded
NumberOfLotsUnderOptionOrContractsNotRecorded
10918 Lot
CY2014Q2 mth Percentage Of Wholly Owned Subsidiaries
PercentageOfWhollyOwnedSubsidiaries
1.00
CY2014Q2 mth Real Estate Inventory Capitalized Interest Costs Related To Joint Venture Investments
RealEstateInventoryCapitalizedInterestCostsRelatedToJointVentureInvestments
511000 USD
CY2013Q4 mth Real Estate Inventory Capitalized Interest Costs Related To Joint Venture Investments
RealEstateInventoryCapitalizedInterestCostsRelatedToJointVentureInvestments
511000 USD
CY2013Q4 mth Real Estate Notes Payable
RealEstateNotesPayable
15993000 USD
CY2014Q2 mth Real Estate Notes Payable
RealEstateNotesPayable
17036000 USD
CY2014Q2 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1336921 shares
CY2013Q4 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1317710 shares
CY2013Q3 mth Supersedeas Bond
SupersedeasBond
16050604 USD
CY2014Q2 mth Supersedeas Bond
SupersedeasBond
16930477 USD
CY2013Q4 mth Sureties Outstanding
SuretiesOutstanding
191829000 USD
CY2014Q2 mth Sureties Outstanding
SuretiesOutstanding
237397000 USD
CY2014Q2 mth Sureties Related To Uncompleted Contracts
SuretiesRelatedToUncompletedContracts
95969000 USD
CY2013Q4 mth Sureties Related To Uncompleted Contracts
SuretiesRelatedToUncompletedContracts
86202000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000833079
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
39121706 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Meritage Homes CORP

Files In Submission

Name View Source Status
0000833079-14-000110-index-headers.html Edgar Link pending
0000833079-14-000110-index.html Edgar Link pending
0000833079-14-000110.txt Edgar Link pending
0000833079-14-000110-xbrl.zip Edgar Link pending
a41_mth-edgarxsecondsupple.htm Edgar Link pending
a42-mthxthirdsupplementali.htm Edgar Link pending
a43_mth-edgarxsixthsupplem.htm Edgar Link pending
a44_mth-seventhsupplementa.htm Edgar Link pending
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a46mth-fourthsupplementali.htm Edgar Link pending
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ex311_q22014.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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mth-20140630_cal.xml Edgar Link unprocessable
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