$MTH
Meritage Homes CORP

2023 Q2 Form 10-Q Financial Statement

#000083307923000094 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $1.574B $1.285B $1.292B
YoY Change 11.42% -0.51% 18.66%
Cost Of Revenue $1.289B $1.081B $966.5M
YoY Change 33.3% 11.87% 9.03%
Gross Profit $284.6M $203.7M $325.1M
YoY Change -36.1% -37.33% 60.92%
Gross Profit Margin 18.09% 15.85% 25.17%
Selling, General & Admin $52.14M $130.4M $105.5M
YoY Change -55.56% 23.53% -0.15%
% of Gross Profit 18.32% 63.99% 32.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.988M $5.208M $5.759M
YoY Change 0.4% -9.57% -11.87%
% of Gross Profit 2.1% 2.56% 1.77%
Operating Expenses $39.28M $130.4M $105.5M
YoY Change -66.52% 23.53% -0.15%
Operating Profit $245.3M $73.35M $219.5M
YoY Change -25.22% -66.59% 127.95%
Interest Expense -$5.795M $0.00 $41.00K
YoY Change -100.0% -54.44%
% of Operating Profit -2.36% 0.0% 0.02%
Other Income/Expense, Net $12.86M $8.844M -$317.0K
YoY Change -2908.3% -2889.91% -139.72%
Pretax Income $239.5M $165.3M $285.9M
YoY Change -27.79% -42.18% 72.24%
Income Tax $52.69M $34.00M $68.63M
% Of Pretax Income 22.0% 20.57% 24.01%
Net Earnings $186.8M $131.3M $217.3M
YoY Change -25.29% -39.56% 64.78%
Net Earnings / Revenue 11.87% 10.22% 16.82%
Basic Earnings Per Share $5.08 $3.58 $5.87
Diluted Earnings Per Share $5.02 $3.54 $5.79
COMMON SHARES
Basic Shares Outstanding 36.77M shares 36.57M shares 37.00M shares
Diluted Shares Outstanding 37.19M shares 37.12M shares 37.53M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.163B $957.2M $520.4M
YoY Change 327.43% 83.94% -27.36%
Cash & Equivalents $1.163B $957.2M $520.4M
Short-Term Investments
Other Short-Term Assets $121.4M $132.4M $116.3M
YoY Change -13.23% 13.9% 10.74%
Inventory $4.349B $4.355B $4.028B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.843B $5.654B $4.820B
YoY Change 15.54% 17.31% 23.61%
LONG-TERM ASSETS
Property, Plant & Equipment $69.10M $41.70M $38.30M
YoY Change 77.04% 8.89% 2.66%
Goodwill $32.96M $32.96M $32.96M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $12.45M $11.28M $5.631M
YoY Change 10.94% 100.32% 40.78%
Other Assets $45.04M $44.80M $40.52M
YoY Change 9.12% 10.58% 21.67%
Total Long-Term Assets $222.3M $217.0M $238.2M
YoY Change -11.14% -8.88% 71.32%
TOTAL ASSETS
Total Short-Term Assets $5.843B $5.654B $4.820B
Total Long-Term Assets $222.3M $217.0M $238.2M
Total Assets $6.066B $5.871B $5.058B
YoY Change 14.28% 16.07% 25.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $276.1M $263.7M $280.1M
YoY Change -19.2% -5.88% 40.27%
Accrued Expenses $314.3M $285.2M $285.6M
YoY Change 1.47% -0.12% 16.27%
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 $662.0M $653.2M $717.3M
YoY Change -9.24% -8.94% 32.54%
LONG-TERM LIABILITIES
Long-Term Debt $1.155B $1.151B $1.165B
YoY Change -0.29% -1.25% 14.18%
Other Long-Term Liabilities $7.210M
YoY Change
Total Long-Term Liabilities $1.155B $1.151B $1.173B
YoY Change -0.9% -1.86% 14.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $662.0M $653.2M $717.3M
Total Long-Term Liabilities $1.155B $1.151B $1.173B
Total Liabilities $1.817B $1.804B $1.890B
YoY Change -4.11% -4.55% 21.01%
SHAREHOLDERS EQUITY
Retained Earnings $3.920B $3.743B $2.846B
YoY Change 26.58% 31.49% 40.66%
Common Stock $328.6M $324.5M $321.9M
YoY Change 4.02% 0.8% -28.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.248B $4.067B $3.168B
YoY Change
Total Liabilities & Shareholders Equity $6.066B $5.871B $5.058B
YoY Change 14.28% 16.07% 25.25%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $186.8M $131.3M $217.3M
YoY Change -25.29% -39.56% 64.78%
Depreciation, Depletion And Amortization $5.988M $5.208M $5.759M
YoY Change 0.4% -9.57% -11.87%
Cash From Operating Activities $231.4M $124.5M $12.19M
YoY Change -205.66% 921.27% -187.39%
INVESTING ACTIVITIES
Capital Expenditures $12.24M $8.899M $6.423M
YoY Change -290.31% 38.55% 28.64%
Acquisitions
YoY Change
Other Investing Activities -$1.177M $171.0K $178.0K
YoY Change -78.92% -3.93% 78.0%
Cash From Investing Activities -$13.41M -$8.728M -$6.245M
YoY Change 11.65% 39.76% 27.19%
FINANCING ACTIVITIES
Cash Dividend Paid $9.927M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $99.30M
YoY Change 1084.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.97M -$20.10M -$103.9M
YoY Change -30.5% -80.66% 905.45%
NET CHANGE
Cash From Operating Activities 231.4M $124.5M $12.19M
Cash From Investing Activities -13.41M -$8.728M -$6.245M
Cash From Financing Activities -11.97M -$20.10M -$103.9M
Net Change In Cash 206.0M $95.65M -$97.94M
YoY Change -182.99% -197.66% 235.55%
FREE CASH FLOW
Cash From Operating Activities $231.4M $124.5M $12.19M
Capital Expenditures $12.24M $8.899M $6.423M
Free Cash Flow $219.2M $115.6M $5.765M
YoY Change -203.1% 1904.74% -130.44%

Facts In Submission

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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19129000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
23481000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
22782000 usd
CY2023Q1 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
130340000 usd
CY2022Q4 mth Accruals Related To Real Estate Development And Construction Activities
AccrualsRelatedToRealEstateDevelopmentAndConstructionActivities
139447000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
55278000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
110338000 usd
CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
21225000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
7026000 usd
CY2023Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
56427000 usd
CY2022Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
25182000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
37063000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
35575000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
23481000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
22782000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
17820000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
20265000 usd
CY2023Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
341634000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
360615000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
35575000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
26264000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4406000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4528000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2918000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4125000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
37063000 usd
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
26667000 usd
CY2022Q4 mth Contract Asset Insurance Renewals
ContractAssetInsuranceRenewals
0 usd
CY2023Q1 mth Contract Asset Insurance Renewals
ContractAssetInsuranceRenewals
0 usd
CY2023Q1 mth Inventory Sold Homes Under Construction
InventorySoldHomesUnderConstruction
1021522000 usd
CY2022Q4 mth Inventory Sold Homes Under Construction
InventorySoldHomesUnderConstruction
822428000 usd
CY2023Q1 mth Inventory Unsold Homes Completed And Under Construction
InventoryUnsoldHomesCompletedAndUnderConstruction
896093000 usd
CY2022Q4 mth Inventory Unsold Homes Completed And Under Construction
InventoryUnsoldHomesCompletedAndUnderConstruction
1155543000 usd
CY2023Q1 mth Inventory Model Homes
InventoryModelHomes
107291000 usd
CY2022Q4 mth Inventory Model Homes
InventoryModelHomes
97198000 usd
CY2023Q1 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
2330272000 usd
CY2022Q4 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
2283094000 usd
CY2023Q1 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
4355178000 usd
CY2022Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
4358263000 usd
CY2023Q1 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
29000000 usd
CY2022Q4 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
66800000 usd
CY2022Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
60169000 usd
CY2021Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
56253000 usd
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
15030000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
15213000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
0 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
41000 usd
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
12747000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
12343000 usd
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
62452000 usd
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
59082000 usd
CY2023Q1 mth Land Under Purchase Contracts And Options Recorded Number Of Lots
LandUnderPurchaseContractsAndOptionsRecordedNumberOfLots
0 lot
CY2023Q1 mth Land Under Purchase Contracts And Options Recorded
LandUnderPurchaseContractsAndOptionsRecorded
0 usd
CY2023Q1 mth Land Under Purchase Contracts And Options Recorded Cash Deposits
LandUnderPurchaseContractsAndOptionsRecordedCashDeposits
0 usd
CY2023Q1 mth Land Under Option Contracts Not Recorded Non Refundable Committed Number Of Lots
LandUnderOptionContractsNotRecordedNonRefundableCommittedNumberOfLots
7331 lot
CY2023Q1 mth Land Under Option Contracts Not Recorded Non Refundable Committed
LandUnderOptionContractsNotRecordedNonRefundableCommitted
420173000 usd
CY2023Q1 mth Land Under Option Contracts Not Recorded Non Refundable Committed Cash Deposits
LandUnderOptionContractsNotRecordedNonRefundableCommittedCashDeposits
39412000 usd
CY2023Q1 mth Land Under Purchase Contracts Not Recorded Non Refundable Committed Number Of Lots
LandUnderPurchaseContractsNotRecordedNonRefundableCommittedNumberOfLots
5881 lot
CY2023Q1 mth Land Under Purchase Contracts Not Recorded Non Refundable Committed
LandUnderPurchaseContractsNotRecordedNonRefundableCommitted
192681000 usd
CY2023Q1 mth Land Under Purchase Contracts Not Recorded Non Refundable Committed Cash Deposits
LandUnderPurchaseContractsNotRecordedNonRefundableCommittedCashDeposits
15311000 usd
CY2023Q1 mth Land Under Purchase Contracts Not Recorded Refundable Committed Number Of Lots
LandUnderPurchaseContractsNotRecordedRefundableCommittedNumberOfLots
1910 lot
CY2023Q1 mth Land Under Purchase Contracts Not Recorded Refundable Committed
LandUnderPurchaseContractsNotRecordedRefundableCommitted
47370000 usd
CY2023Q1 mth Land Under Purchase Contracts Not Recorded Refundable Committed Cash Deposits
LandUnderPurchaseContractsNotRecordedRefundableCommittedCashDeposits
1515000 usd
CY2023Q1 mth Land Under Purchase And Option Contracts Committed Number Of Lots
LandUnderPurchaseAndOptionContractsCommittedNumberOfLots
15122 lot
CY2023Q1 mth Land Under Purchase And Option Contracts Committed
LandUnderPurchaseAndOptionContractsCommitted
660224000 usd
CY2023Q1 mth Land Under Purchase And Option Contracts Committed Cash Deposits
LandUnderPurchaseAndOptionContractsCommittedCashDeposits
56238000 usd
CY2023Q1 mth Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Number Of Lots
LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedNumberOfLots
18928 lot
CY2023Q1 mth Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted
LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommitted
704227000 usd
CY2023Q1 mth Land Under Purchase And Option Contracts Not Recorded Refundable Uncommitted Cash Deposits
LandUnderPurchaseAndOptionContractsNotRecordedRefundableUncommittedCashDeposits
9603000 usd
CY2023Q1 mth Land Under Purchase And Option Contracts Number Of Lots
LandUnderPurchaseAndOptionContractsNumberOfLots
34050 lot
CY2023Q1 mth Land Under Purchase And Option Contracts
LandUnderPurchaseAndOptionContracts
1364451000 usd
CY2023Q1 mth Land Under Purchase And Option Contracts Cash Deposits
LandUnderPurchaseAndOptionContractsCashDeposits
65841000 usd
CY2023Q1 mth Land Under Option Contract Not Recorded Number Of Lots
LandUnderOptionContractNotRecordedNumberOfLots
34050 lot
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
531000 shares
CY2023Q1 us-gaap Land Under Purchase Options Not Recorded
LandUnderPurchaseOptionsNotRecorded
1364451000 usd
CY2023Q1 mth Land Under Option Contract Not Recorded Cash Deposits
LandUnderOptionContractNotRecordedCashDeposits
65841000 usd
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 usd
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37121000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37527000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36664000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36996000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
457000 shares
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
131301000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
131301000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
217254000 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.58
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.87
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.54
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.79
CY2023Q1 us-gaap Goodwill
Goodwill
33000000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
32962000 usd
CY2023Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
CY2023Q1 us-gaap Goodwill
Goodwill
32962000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
3949611000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6225000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 usd
CY2023Q1 us-gaap Dividends
Dividends
9927000 usd
CY2023Q1 us-gaap Dividends
Dividends
9927000 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
10000000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
4067210000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
3044389000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
217254000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5975000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 usd
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
99303000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
3168315000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6225000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5975000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42820000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
29187000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M26D
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y11M23D
CY2023Q1 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
760194 shares
CY2022Q4 mth Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
803769 shares
CY2023Q1 mth Share Based Compensation Arrangement Payout Percentage
ShareBasedCompensationArrangementPayoutPercentage
1
CY2023Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
26440000 usd
CY2022Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
56345000 usd
CY2023Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
7562000 usd
CY2022Q1 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
12284000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34002000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
68629000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.206
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.240
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2023Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
0 usd
CY2023Q1 us-gaap Income Tax Receivable
IncomeTaxReceivable
0 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
14706000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
15035000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 usd
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
3000 usd
CY2023Q1 mth Increase Decreasein Real Estate Acquired Through Notes Payable
IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable
0 usd
CY2022Q1 mth Increase Decreasein Real Estate Acquired Through Notes Payable
IncreaseDecreaseinRealEstateAcquiredThroughNotesPayable
9589000 usd
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
11753000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
1325356000 usd
CY2023Q1 mth Numberof Business Segments
NumberofBusinessSegments
2 segment
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
10 operating_segment
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
165303000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
285883000 usd
CY2023Q1 us-gaap Deposit Assets
DepositAssets
65841000 usd
CY2023Q1 us-gaap Inventory Real Estate
InventoryRealEstate
4355178000 usd
CY2023Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
11280000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
1438847000 usd
CY2023Q1 us-gaap Assets
Assets
5871146000 usd
CY2022Q4 us-gaap Deposit Assets
DepositAssets
76729000 usd
CY2022Q4 us-gaap Inventory Real Estate
InventoryRealEstate
4358263000 usd
CY2022Q4 us-gaap Assets
Assets
5772101000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
37100000 usd

Files In Submission

Name View Source Status
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mth-20230331_cal.xml Edgar Link unprocessable
mth-20230331_def.xml Edgar Link unprocessable
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0000833079-23-000094.txt Edgar Link pending
0000833079-23-000094-xbrl.zip Edgar Link pending
ex101-meritageexecseveranc.htm Edgar Link pending
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mth-20230331.htm Edgar Link pending
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