2021 Q2 Form 10-Q Financial Statement

#000090616321000084 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $2.284B $1.620B $1.583B
YoY Change 40.93% -9.99% -6.19%
Cost Of Revenue $1.722B $1.285B $1.295B
YoY Change 34.03% -9.88% -3.29%
Gross Profit $566.8M $340.8M $296.2M
YoY Change 66.3% -11.27% -17.1%
Gross Profit Margin 24.82% 21.03% 18.72%
Selling, General & Admin $136.0M $121.5M $128.4M
YoY Change 11.95% -8.65% -3.09%
% of Gross Profit 24.0% 35.65% 43.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.838M $5.700M $5.622M
YoY Change -15.12% 14.0% 11.06%
% of Gross Profit 0.85% 1.67% 1.9%
Operating Expenses $136.0M $121.5M $128.4M
YoY Change 11.95% -8.65% -3.09%
Operating Profit $430.7M $219.3M $167.8M
YoY Change 96.41% -12.66% -25.36%
Interest Expense $13.27M $9.525M $6.486M
YoY Change 39.32% 51.17% 4.36%
% of Operating Profit 3.08% 4.34% 3.87%
Other Income/Expense, Net
YoY Change
Pretax Income $417.5M $209.8M $161.4M
YoY Change 98.95% -14.25% -26.18%
Income Tax $96.17M $45.76M -$14.33M
% Of Pretax Income 23.04% 21.81% -8.88%
Net Earnings $321.3M $164.1M $175.7M
YoY Change 95.82% -21.95% -6.74%
Net Earnings / Revenue 14.07% 10.13% 11.1%
Basic Earnings Per Share $88.69 $44.56 $47.97
Diluted Earnings Per Share $82.45 $42.50 $44.96
COMMON SHARES
Basic Shares Outstanding 3.623M shares 3.682M shares 3.663M shares
Diluted Shares Outstanding 3.897M shares 3.861M shares 3.908M shares

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.618B $2.001B $1.092B
YoY Change 30.86% 126.78% 33.74%
Cash & Equivalents $2.665B $2.028B $1.118B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.973B $1.603B $1.516B
Prepaid Expenses
Receivables $24.48M $20.80M $27.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.616B $3.624B $2.635B
YoY Change 27.37% 56.97% 23.8%
LONG-TERM ASSETS
Property, Plant & Equipment $132.0M $127.6M $132.1M
YoY Change 3.43% -4.49% 3.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.70M $28.40M $27.80M
YoY Change -23.59% 13.6% -10.61%
Other Assets $46.23M $26.80M $26.00M
YoY Change 72.5% 12.61% 8.79%
Total Long-Term Assets $1.238B $1.106B $1.253B
YoY Change 11.98% -14.56% 1.48%
TOTAL ASSETS
Total Short-Term Assets $4.616B $3.624B $2.635B
Total Long-Term Assets $1.238B $1.106B $1.253B
Total Assets $5.854B $4.730B $3.888B
YoY Change 23.77% 31.27% 15.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $430.6M $336.8M $367.2M
YoY Change 27.84% -4.54% 12.5%
Accrued Expenses $499.3M $428.9M $357.8M
YoY Change 16.42% 10.88% -9.9%
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 $1.295B $923.7M $872.2M
YoY Change 40.23% 4.28% 0.7%
LONG-TERM LIABILITIES
Long-Term Debt $1.517B $1.194B $598.5M
YoY Change 27.04% 99.67% 0.12%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.517B $1.194B $598.5M
YoY Change 27.04% 99.67% 0.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.295B $923.7M $872.2M
Total Long-Term Liabilities $1.517B $1.194B $598.5M
Total Liabilities $2.812B $2.118B $1.471B
YoY Change 32.8% 42.72% 0.45%
SHAREHOLDERS EQUITY
Retained Earnings $9.381B $8.250B $8.086B
YoY Change 13.72% 11.03% 11.99%
Common Stock $2.315B $2.152B $2.128B
YoY Change 7.57% 9.66% 12.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.654B $7.789B $7.796B
YoY Change 11.1% 7.1% 7.98%
Treasury Stock Shares 16.98M shares 16.88M shares 16.88M shares
Shareholders Equity $3.042B $2.612B $2.417B
YoY Change
Total Liabilities & Shareholders Equity $5.854B $4.730B $3.888B
YoY Change 23.77% 31.27% 15.6%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $321.3M $164.1M $175.7M
YoY Change 95.82% -21.95% -6.74%
Depreciation, Depletion And Amortization $4.838M $5.700M $5.622M
YoY Change -15.12% 14.0% 11.06%
Cash From Operating Activities $192.7M $302.3M $68.44M
YoY Change -36.25% 304.69% -69.96%
INVESTING ACTIVITIES
Capital Expenditures -$3.520M -$4.700M $3.510M
YoY Change -25.11% -12.96% -33.59%
Acquisitions
YoY Change
Other Investing Activities $298.0K $100.0K $300.0K
YoY Change 198.0% -97.78% -91.18%
Cash From Investing Activities -$3.222M -$4.500M -$3.258M
YoY Change -28.4% 400.0% 73.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $216.6M
YoY Change 0.04%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -339.3M 612.0M -$107.7M
YoY Change -155.43% -7563.41% -8.34%
NET CHANGE
Cash From Operating Activities 192.7M 302.3M $68.44M
Cash From Investing Activities -3.222M -4.500M -$3.258M
Cash From Financing Activities -339.3M 612.0M -$107.7M
Net Change In Cash -149.8M 909.8M -$42.54M
YoY Change -116.46% 1286.89% -139.22%
FREE CASH FLOW
Cash From Operating Activities $192.7M $302.3M $68.44M
Capital Expenditures -$3.520M -$4.700M $3.510M
Free Cash Flow $196.2M $307.0M $64.93M
YoY Change -36.08% 283.27% -70.83%

Facts In Submission

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RealEstateInventoryCapitalizedInterestCosts
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RealEstateInventoryCapitalizedInterestCosts
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RealEstateInventoryCapitalizedInterestCosts
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InterestCostsIncurred
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InterestCostsIncurred
26714000 USD
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InterestCostsIncurred
16300000 USD
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InterestExpense
13270000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
9525000 USD
us-gaap Interest Expense
InterestExpense
26667000 USD
us-gaap Interest Expense
InterestExpense
16011000 USD
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
206000 USD
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
501000 USD
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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RealEstateInventoryCapitalizedInterestCosts
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RealEstateInventoryCapitalizedInterestCosts
2673000 USD
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RealEstateInventoryCapitalizedInterestCosts
644000 USD
CY2020Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
2673000 USD
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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14434000 USD
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13379000 USD
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38048000 USD
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95673000 USD
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18000 shares
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StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
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2416919000 USD
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126046000 USD
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15677000 USD
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44089000 USD
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19094000 USD
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ProductWarrantyAccrual
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ProductWarrantyAccrual
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ProductWarrantyAccrual
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4325044000 USD
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417465000 USD
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209831000 USD
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729471000 USD
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371206000 USD
CY2021Q2 us-gaap Assets
Assets
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CY2020Q4 us-gaap Assets
Assets
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nvr Fair Value Measurement Assumed Gain Loss From Loan Sale
FairValueMeasurementAssumedGainLossFromLoanSale
6059000 USD
nvr Fair Value Measurements Interest Rate Movement Effect
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nvr Fair Value Measurements Security Price Change Gain Loss Included In Earnings
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us-gaap Operating Lease Expense
OperatingLeaseExpense
15488000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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17823000 USD
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CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14973000 USD
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
15601000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
15772000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
16173000 USD
CY2021Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P19Y2M12D
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
20
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
7911000 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
7942000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
15853000 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
445000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
281000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
888000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
547000 USD
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
108000 USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
51000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
217000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5861000 USD
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6185000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
11751000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
12611000 USD
CY2021Q2 us-gaap Lease Cost
LeaseCost
14325000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
14459000 USD
us-gaap Lease Cost
LeaseCost
28344000 USD
us-gaap Lease Cost
LeaseCost
29111000 USD
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
6878000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
6676000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
13688000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
13394000 USD
CY2021Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
108000 USD
CY2020Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
51000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
217000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
100000 USD
CY2021Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
331000 USD
CY2020Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
212000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
661000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
412000 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
16558000 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1901000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
19571000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5685000 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
89000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
440000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y1M6D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y6M
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.031
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.034
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.230
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CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.218
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.085
CY2021Q2 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
11213000 USD
nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
28590000 USD
CY2020Q2 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
6854000 USD
nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
62509000 USD

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