$MTH
Meritage Homes CORP

2021 Q4 Form 10-Q Financial Statement

#000083307921000136 Filed on October 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.504B $1.265B $1.143B
YoY Change 6.27% 10.68% 20.93%
Cost Of Revenue $1.143B $958.7M $969.3M
YoY Change -2.92% -1.09% 18.21%
Gross Profit $361.1M $306.4M $173.7M
YoY Change 51.73% 76.39% 38.74%
Gross Profit Margin 24.0% 24.22% 15.2%
Selling, General & Admin $53.15M $116.1M $114.0M
YoY Change 10.96% 1.86% 13.29%
% of Gross Profit 14.72% 37.91% 65.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.353M $6.478M $7.900M
YoY Change -26.13% -18.0% 9.72%
% of Gross Profit 1.76% 2.11% 4.55%
Operating Expenses $51.73M $116.1M $114.0M
YoY Change 15.99% 1.86% 13.29%
Operating Profit $309.4M $190.2M $59.68M
YoY Change 59.97% 218.77% 143.01%
Interest Expense $2.116M $79.00K $55.00K
YoY Change 5.8% 43.64% -94.85%
% of Operating Profit 0.68% 0.04% 0.09%
Other Income/Expense, Net $1.268M $1.188M
YoY Change 6.73% -50.54%
Pretax Income $311.5M $261.7M $135.5M
YoY Change 59.44% 93.13% 46.71%
Income Tax $74.04M $60.96M $26.39M
% Of Pretax Income 23.77% 23.29% 19.47%
Net Earnings $237.5M $200.8M $109.1M
YoY Change 55.68% 83.98% 56.31%
Net Earnings / Revenue 15.78% 15.87% 9.55%
Basic Earnings Per Share $5.33 $2.90
Diluted Earnings Per Share $6.236M $5.25 $2.84
COMMON SHARES
Basic Shares Outstanding 37.31M shares 37.65M shares 37.61M shares
Diluted Shares Outstanding 38.23M shares 38.41M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $618.3M $562.3M $610.0M
YoY Change -17.07% -7.82% 34.12%
Cash & Equivalents $618.3M $562.3M $610.0M
Short-Term Investments
Other Short-Term Assets $70.78M $53.95M $101.7M
YoY Change -31.48% -46.95% -5.83%
Inventory $3.734B $3.593B $2.741B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.571B $4.358B $3.549B
YoY Change 22.7% 22.78% 1.33%
LONG-TERM ASSETS
Property, Plant & Equipment $37.34M $36.60M $42.73M
YoY Change -4.09% -14.36% -19.55%
Goodwill $32.96M $32.96M $32.96M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $5.764M $3.905M $3.800M
YoY Change 31.0% 2.76% -51.9%
Other Assets $40.67M $38.85M $28.40M
YoY Change 12.98% 36.8% 10.51%
Total Long-Term Assets $236.5M $207.5M $137.9M
YoY Change 70.24% 50.42% 4.22%
TOTAL ASSETS
Total Short-Term Assets $4.571B $4.358B $3.549B
Total Long-Term Assets $236.5M $207.5M $137.9M
Total Assets $4.808B $4.565B $3.687B
YoY Change 24.41% 23.81% 1.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $216.0M $214.6M $167.8M
YoY Change 23.22% 27.88% -6.83%
Accrued Expenses $300.0M $297.9M $257.1M
YoY Change 14.63% 15.86% 14.22%
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 $595.9M $579.0M $467.7M
YoY Change 20.04% 23.79% 3.54%
LONG-TERM LIABILITIES
Long-Term Debt $1.160B $1.161B $1.020B
YoY Change 13.72% 13.86% -22.15%
Other Long-Term Liabilities $7.210M
YoY Change
Total Long-Term Liabilities $1.167B $1.161B $1.020B
YoY Change 14.42% 13.86% -22.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $595.9M $579.0M $467.7M
Total Long-Term Liabilities $1.167B $1.161B $1.020B
Total Liabilities $1.763B $1.740B $1.487B
YoY Change 16.26% 16.99% -15.56%
SHAREHOLDERS EQUITY
Retained Earnings $2.629B $2.392B $1.739B
YoY Change 38.98% 37.52% 27.45%
Common Stock $415.2M $433.6M $460.6M
YoY Change -8.97% -5.88% -9.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.044B $2.825B $2.200B
YoY Change
Total Liabilities & Shareholders Equity $4.808B $4.565B $3.687B
YoY Change 24.41% 23.81% 1.44%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $237.5M $200.8M $109.1M
YoY Change 55.68% 83.98% 56.31%
Depreciation, Depletion And Amortization $6.353M $6.478M $7.900M
YoY Change -26.13% -18.0% 9.72%
Cash From Operating Activities $96.61M -$105.2M $135.7M
YoY Change -38.58% -177.55% 150.83%
INVESTING ACTIVITIES
Capital Expenditures -$7.754M -$6.940M -$4.500M
YoY Change 52.04% 54.22% -28.57%
Acquisitions
YoY Change
Other Investing Activities -$1.560M $112.0K $200.0K
YoY Change -880.0% -44.0% 100.0%
Cash From Investing Activities -$9.314M -$6.828M -$4.100M
YoY Change 86.28% 66.54% -33.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.26M -10.02M -6.100M
YoY Change 87.16% 64.28% 1425.0%
NET CHANGE
Cash From Operating Activities 96.61M -105.2M 135.7M
Cash From Investing Activities -9.314M -6.828M -4.100M
Cash From Financing Activities -31.26M -10.02M -6.100M
Net Change In Cash 56.04M -122.1M 125.5M
YoY Change -58.67% -197.28% 164.21%
FREE CASH FLOW
Cash From Operating Activities $96.61M -$105.2M $135.7M
Capital Expenditures -$7.754M -$6.940M -$4.500M
Free Cash Flow $104.4M -$98.29M $140.2M
YoY Change -35.73% -170.11% 132.12%

Facts In Submission

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2021-09-30
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dei Entity File Number
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dei Entity Registrant Name
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Meritage Homes Corp
dei Entity Incorporation State Country Code
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MD
dei Entity Tax Identification Number
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dei Entity Address Address Line1
EntityAddressAddressLine1
8800 E. Raintree Drive
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Suite 300
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dei Security12b Title
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
290513000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
745621000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
319466000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
562291000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
609979000 USD
CY2021Q3 mth Entity Operations In Number Of Regions
EntityOperationsInNumberOfRegions
3 region
CY2021Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
9 state
CY2021Q3 mth Numberof Communitiesin Which Homesare Sold
NumberofCommunitiesinWhichHomesareSold
236 community
CY2021Q3 us-gaap Deposit Assets
DepositAssets
78000000 USD
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17159000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
21624000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
22644000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28254000 USD
CY2021Q3 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
116351000 USD
CY2020Q4 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
92701000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
85959000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
88337000 USD
CY2021Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
21528000 USD
CY2020Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
8457000 USD
CY2021Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
26526000 USD
CY2020Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
34373000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
26551000 USD
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
23743000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
22644000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28254000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
24848000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
20256000 USD
CY2021Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
324407000 USD
CY2020Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
296121000 USD
CY2021Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
25065000 USD
CY2020Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21578000 USD
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
23743000 USD
CY2019Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22015000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4442000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4592000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
12766000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
12620000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2956000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2911000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
9958000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
11376000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
CY2020Q3 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 Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
26551000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
23259000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
26551000 USD
CY2020Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
23259000 USD
CY2020Q4 mth Contract Asset Insurance Renewals
ContractAssetInsuranceRenewals
0 USD
CY2021Q3 mth Contract Asset Insurance Renewals
ContractAssetInsuranceRenewals
0 USD
CY2021Q3 mth Inventory Sold Homes Under Construction
InventorySoldHomesUnderConstruction
1142724000 USD
CY2020Q4 mth Inventory Sold Homes Under Construction
InventorySoldHomesUnderConstruction
873365000 USD
CY2021Q3 mth Inventory Unsold Homes Completed And Under Construction
InventoryUnsoldHomesCompletedAndUnderConstruction
397422000 USD
CY2020Q4 mth Inventory Unsold Homes Completed And Under Construction
InventoryUnsoldHomesCompletedAndUnderConstruction
357861000 USD
CY2021Q3 mth Inventory Model Homes
InventoryModelHomes
75239000 USD
CY2020Q4 mth Inventory Model Homes
InventoryModelHomes
82502000 USD
CY2021Q3 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
1977622000 USD
CY2020Q4 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
1464311000 USD
CY2021Q3 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
3593007000 USD
CY2020Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
2778039000 USD
CY2021Q3 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
47800000 USD
CY2020Q4 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
72700000 USD
CY2021Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
56710000 USD
CY2020Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
72882000 USD
CY2020Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
58940000 USD
CY2019Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
82014000 USD
CY2021Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
15212000 USD
CY2020Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
16103000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
47625000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
50188000 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
79000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
55000 USD
us-gaap Interest Expense
InterestExpense
246000 USD
us-gaap Interest Expense
InterestExpense
2176000 USD
CY2021Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
14550000 USD
CY2020Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
21380000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
49026000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
62476000 USD
CY2021Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
57293000 USD
CY2020Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
67550000 USD
CY2021Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
57293000 USD
CY2020Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
67550000 USD
CY2021Q3 mth Land Under Purchase Contracts And Options Recorded Number Of Lots
LandUnderPurchaseContractsAndOptionsRecordedNumberOfLots
0 lot
CY2021Q3 mth Land Under Purchase Contracts And Options Recorded
LandUnderPurchaseContractsAndOptionsRecorded
0 USD
CY2021Q3 mth Land Under Purchase Contracts And Options Recorded Cash Deposits
LandUnderPurchaseContractsAndOptionsRecordedCashDeposits
0 USD
CY2021Q3 mth Land Under Option Contracts Not Recorded Non Refundable Committed Number Of Lots
LandUnderOptionContractsNotRecordedNonRefundableCommittedNumberOfLots
11433 lot
CY2021Q3 mth Land Under Option Contracts Not Recorded Non Refundable Committed
LandUnderOptionContractsNotRecordedNonRefundableCommitted
530759000 USD
CY2021Q3 mth Land Under Option Contracts Not Recorded Non Refundable Committed Cash Deposits
LandUnderOptionContractsNotRecordedNonRefundableCommittedCashDeposits
43214000 USD
CY2021Q3 mth Land Under Purchase Contracts Not Recorded Non Refundable Committed Number Of Lots
LandUnderPurchaseContractsNotRecordedNonRefundableCommittedNumberOfLots
11084 lot
CY2021Q3 mth Land Under Purchase Contracts Not Recorded Non Refundable Committed
LandUnderPurchaseContractsNotRecordedNonRefundableCommitted
327738000 USD
CY2021Q3 mth Land Under Purchase Contracts Not Recorded Non Refundable Committed Cash Deposits
LandUnderPurchaseContractsNotRecordedNonRefundableCommittedCashDeposits
25734000 USD
CY2021Q3 mth Land Under Purchase Contracts Not Recorded Refundable Committed Number Of Lots
LandUnderPurchaseContractsNotRecordedRefundableCommittedNumberOfLots
2619 lot
CY2021Q3 mth Land Under Purchase Contracts Not Recorded Refundable Committed
LandUnderPurchaseContractsNotRecordedRefundableCommitted
86635000 USD
CY2021Q3 mth Land Under Purchase Contracts Not Recorded Refundable Committed Cash Deposits
LandUnderPurchaseContractsNotRecordedRefundableCommittedCashDeposits
743000 USD
CY2021Q3 mth Land Under Purchase And Option Contracts Committed Number Of Lots
LandUnderPurchaseAndOptionContractsCommittedNumberOfLots
25136 lot
CY2021Q3 mth Land Under Purchase And Option Contracts Committed
LandUnderPurchaseAndOptionContractsCommitted
945132000 USD
CY2021Q3 mth Land Under Purchase And Option Contracts Committed Cash Deposits
LandUnderPurchaseAndOptionContractsCommittedCashDeposits
69691000 USD
CY2021Q3 mth Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Number Of Lots
LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedNumberOfLots
31655 lot
CY2021Q3 mth Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted
LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommitted
769696000 USD
CY2021Q3 mth Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Cash Deposits
LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedCashDeposits
8296000 USD
CY2021Q3 mth Land Under Purchase And Option Contracts Number Of Lots
LandUnderPurchaseAndOptionContractsNumberOfLots
56791 lot
CY2021Q3 mth Land Under Purchase And Option Contracts
LandUnderPurchaseAndOptionContracts
1714828000 USD
CY2021Q3 mth Land Under Purchase And Option Contracts Cash Deposits
LandUnderPurchaseAndOptionContractsCashDeposits
77987000 USD
CY2021Q3 mth Land Under Option Contract Not Recorded Number Of Lots
LandUnderOptionContractNotRecordedNumberOfLots
56791 lot
CY2021Q3 us-gaap Land Under Purchase Options Not Recorded
LandUnderPurchaseOptionsNotRecorded
1714828000 USD
CY2021Q3 mth Land Under Option Contract Not Recorded Cash Deposits
LandUnderOptionContractNotRecordedCashDeposits
77987000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2021Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
500000000 USD
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
798000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37647000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37607000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37703000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37763000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
582000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
582000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
728000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38229000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38405000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38285000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38491000 shares
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
200752000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
109118000 USD
us-gaap Net Income Loss
NetIncomeLoss
499984000 USD
us-gaap Net Income Loss
NetIncomeLoss
270948000 USD
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.33
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.90
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
13.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.17
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.25
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
13.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.04
CY2021Q3 us-gaap Goodwill
Goodwill
33000000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
32962000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
CY2021Q3 us-gaap Goodwill
Goodwill
32962000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
2347868000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
131843000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5367000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
8385000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
2476693000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
167389000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3223000 USD
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
19161000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
2628144000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
200752000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
200752000 USD
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5845000 USD
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
9471000 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
2825270000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1973990000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
71152000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6437000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
60813000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
1990766000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
90678000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3157000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
2084601000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
109118000 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6130000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
2199849000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5845000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6130000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14435000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15724000 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
29890000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
22687000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7D
CY2020 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3D
CY2021Q3 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
910557 shares
CY2020Q4 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
1098545 shares
CY2021Q3 mth Share Based Compensation Arrangement Payout Percentage
ShareBasedCompensationArrangementPayoutPercentage
1
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2021Q3 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
47955000 USD
CY2020Q3 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
21692000 USD
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
115781000 USD
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
54594000 USD
CY2021Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
13002000 USD
CY2020Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
4696000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
27572000 USD
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
12659000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
60957000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26388000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
143353000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
67253000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.199
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
CY2021Q3 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
0 USD
us-gaap Interest Paid Net
InterestPaidNet
14451000 USD
us-gaap Interest Paid Net
InterestPaidNet
14756000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
152843000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
49103000 USD
mth Increase Decreasein Real Estate Acquired Through Notes Payable
IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable
2199000 USD
mth Increase Decreasein Real Estate Acquired Through Notes Payable
IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable
8664000 USD
mth Numberof Business Segments
NumberofBusinessSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
9 operating_segment
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-18188000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
261709000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
135506000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
643337000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
338201000 USD
CY2021Q3 us-gaap Deposit Assets
DepositAssets
77987000 USD
CY2021Q3 us-gaap Inventory Real Estate
InventoryRealEstate
3593007000 USD
CY2021Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
3905000 USD
CY2021Q3 us-gaap Other Assets
OtherAssets
890550000 USD
CY2021Q3 us-gaap Assets
Assets
4565449000 USD
CY2020Q4 us-gaap Deposit Assets
DepositAssets
59534000 USD
CY2020Q4 us-gaap Inventory Real Estate
InventoryRealEstate
2778039000 USD
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
4350000 USD
CY2020Q4 us-gaap Other Assets
OtherAssets
1022475000 USD
CY2020Q4 us-gaap Assets
Assets
3864398000 USD
CY2021Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
26600000 USD
dei Entity Central Index Key
EntityCentralIndexKey
0000833079
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Type
DocumentType
10-Q

Files In Submission

Name View Source Status
0000833079-21-000136-index-headers.html Edgar Link pending
0000833079-21-000136-index.html Edgar Link pending
0000833079-21-000136.txt Edgar Link pending
0000833079-21-000136-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mth-20210930.htm Edgar Link pending
mth-20210930.xsd Edgar Link pending
mth-20210930_cal.xml Edgar Link unprocessable
mth-20210930_def.xml Edgar Link unprocessable
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mth-20210930_htm.xml Edgar Link completed
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