2023 Q1 Form 10-Q Financial Statement
#000090616323000048 Filed on May 02, 2023
Income Statement
Concept | 2023 Q1 |
---|---|
Revenue | $2.178B |
YoY Change | -8.41% |
Cost Of Revenue | $1.608B |
YoY Change | -2.63% |
Gross Profit | $607.3M |
YoY Change | -16.98% |
Gross Profit Margin | 27.88% |
Selling, General & Admin | $166.3M |
YoY Change | 9.08% |
% of Gross Profit | 27.37% |
Research & Development | |
YoY Change | |
% of Gross Profit | |
Depreciation & Amortization | $4.188M |
YoY Change | -6.1% |
% of Gross Profit | 0.69% |
Operating Expenses | $166.3M |
YoY Change | 9.08% |
Operating Profit | $441.1M |
YoY Change | -23.84% |
Interest Expense | $7.258M |
YoY Change | -44.87% |
% of Operating Profit | 1.65% |
Other Income/Expense, Net | |
YoY Change | |
Pretax Income | $433.8M |
YoY Change | -23.35% |
Income Tax | $89.46M |
% Of Pretax Income | 20.62% |
Net Earnings | $344.4M |
YoY Change | -19.19% |
Net Earnings / Revenue | 15.81% |
Basic Earnings Per Share | $106.30 |
Diluted Earnings Per Share | $99.89 |
COMMON SHARES | |
Basic Shares Outstanding | 3.249M shares |
Diluted Shares Outstanding | 3.447M shares |
Balance Sheet
Concept | 2023 Q1 |
---|---|
SHORT-TERM ASSETS | |
Cash & Short-Term Investments | $2.801B |
YoY Change | 29.79% |
Cash & Equivalents | $2.859B |
Short-Term Investments | |
Other Short-Term Assets | |
YoY Change | |
Inventory | $1.866B |
Prepaid Expenses | |
Receivables | $23.31M |
Other Receivables | $0.00 |
Total Short-Term Assets | $4.690B |
YoY Change | 7.19% |
LONG-TERM ASSETS | |
Property, Plant & Equipment | $153.2M |
YoY Change | 19.19% |
Goodwill | |
YoY Change | |
Intangibles | |
YoY Change | |
Long-Term Investments | $27.20M |
YoY Change | 44.68% |
Other Assets | $57.83M |
YoY Change | -16.46% |
Total Long-Term Assets | $1.386B |
YoY Change | 2.59% |
TOTAL ASSETS | |
Total Short-Term Assets | $4.690B |
Total Long-Term Assets | $1.386B |
Total Assets | $6.076B |
YoY Change | 6.11% |
SHORT-TERM LIABILITIES | |
YoY Change | |
Accounts Payable | $422.1M |
YoY Change | -7.56% |
Accrued Expenses | $558.8M |
YoY Change | -2.79% |
Deferred Revenue | |
YoY Change | |
Short-Term Debt | $0.00 |
YoY Change | |
Long-Term Debt Due | |
YoY Change | |
Total Short-Term Liabilities | $1.316B |
YoY Change | -11.35% |
LONG-TERM LIABILITIES | |
Long-Term Debt | $914.4M |
YoY Change | -39.68% |
Other Long-Term Liabilities | |
YoY Change | |
Total Long-Term Liabilities | $914.4M |
YoY Change | -39.68% |
TOTAL LIABILITIES | |
Total Short-Term Liabilities | $1.316B |
Total Long-Term Liabilities | $914.4M |
Total Liabilities | $2.231B |
YoY Change | -25.66% |
SHAREHOLDERS EQUITY | |
Retained Earnings | $12.12B |
YoY Change | 15.69% |
Common Stock | $2.677B |
YoY Change | 10.76% |
Preferred Stock | |
YoY Change | |
Treasury Stock (at cost) | $10.95B |
YoY Change | 7.71% |
Treasury Stock Shares | |
Shareholders Equity | $3.845B |
YoY Change | |
Total Liabilities & Shareholders Equity | $6.076B |
YoY Change | 6.11% |
Cashflow Statement
Concept | 2023 Q1 |
---|---|
OPERATING ACTIVITIES | |
Net Income | $344.4M |
YoY Change | -19.19% |
Depreciation, Depletion And Amortization | $4.188M |
YoY Change | -6.1% |
Cash From Operating Activities | $315.5M |
YoY Change | 2.0% |
INVESTING ACTIVITIES | |
Capital Expenditures | $2.714M |
YoY Change | -33.09% |
Acquisitions | |
YoY Change | |
Other Investing Activities | -$201.0K |
YoY Change | -23.28% |
Cash From Investing Activities | -$2.915M |
YoY Change | -32.49% |
FINANCING ACTIVITIES | |
Cash Dividend Paid | |
YoY Change | |
Common Stock Issuance & Retirement, Net | |
YoY Change | |
Debt Paid & Issued, Net | |
YoY Change | |
Cash From Financing Activities | -$28.53M |
YoY Change | -96.01% |
NET CHANGE | |
Cash From Operating Activities | $315.5M |
Cash From Investing Activities | -$2.915M |
Cash From Financing Activities | -$28.53M |
Net Change In Cash | $284.1M |
YoY Change | -169.3% |
FREE CASH FLOW | |
Cash From Operating Activities | $315.5M |
Capital Expenditures | $2.714M |
Free Cash Flow | $312.8M |
YoY Change | 2.47% |
Facts In Submission
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---|---|---|---|---|
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Q1 | |
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11700 Plaza America Drive | |
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Suite 500 | |
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LettersOfCreditRelatedToLots
|
6896000 | usd |
CY2023Q1 | us-gaap |
Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
|
509596000 | usd |
CY2022Q4 | us-gaap |
Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
|
502976000 | usd |
CY2023Q1 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
26800000 | usd |
CY2023Q1 | nvr |
Number Of Joint Ventures
NumberOfJointVentures
|
4 | joint_venture |
CY2023Q1 | nvr |
Expected Production Of Finished Lots From Joint Ventures
ExpectedProductionOfFinishedLotsFromJointVentures
|
5300 | lot |
CY2023Q1 | nvr |
Joint Venture Lots Controlled By Company
JointVentureLotsControlledByCompany
|
4900 | lot |
CY2023Q1 | nvr |
Joint Venture Lots Either Under Contract With Unrelated Parties Or Not Under Contract
JointVentureLotsEitherUnderContractWithUnrelatedPartiesOrNotUnderContract
|
400 | lot |
CY2023Q1 | nvr |
Aggregate Additional Funding Commitments
AggregateAdditionalFundingCommitments
|
12400000 | usd |
CY2023Q1 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
28814000 | usd |
CY2023Q1 | nvr |
Number Of Finished Lots Expected To Be Developed From Raw Parcels Of Land
NumberOfFinishedLotsExpectedToBeDevelopedFromRawParcelsOfLand
|
1900 | lot |
CY2023Q1 | nvr |
Aggregate Additional Funding Commitments Related To Raw Land Property Development
AggregateAdditionalFundingCommitmentsRelatedToRawLandPropertyDevelopment
|
1900000 | usd |
CY2023Q1 | nvr |
Expected Development Credit
ExpectedDevelopmentCredit
|
900000 | usd |
CY2022Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
570000 | usd |
CY2021Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
593000 | usd |
CY2023Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
7004000 | usd |
CY2022Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
13254000 | usd |
CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
7258000 | usd |
CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
13166000 | usd |
CY2023Q1 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
111000 | usd |
CY2022Q1 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
41000 | usd |
CY2023Q1 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
205000 | usd |
CY2022Q1 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
640000 | usd |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3239263 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3385259 | shares |
CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
208211 | shares |
CY2022Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
270258 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
3447474 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
3655517 | shares |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
184114 | shares |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
21032 | shares |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3506849000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
344352000 | usd |
CY2023Q1 | us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
110048000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
22277000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
81916000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3845346000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3002378000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
426100000 | usd |
CY2022Q1 | us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
748788000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
11668000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
34241000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2725599000 | usd |
CY2023Q1 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
21174 | shares |
CY2022Q1 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
146054 | shares |
CY2023Q1 | nvr |
Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
|
43941 | shares |
CY2022Q1 | nvr |
Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
|
13323 | shares |
CY2022Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
144006000 | usd |
CY2021Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
134859000 | usd |
CY2023Q1 | nvr |
Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
|
21270000 | usd |
CY2022Q1 | nvr |
Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
|
17967000 | usd |
CY2023Q1 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
20845000 | usd |
CY2022Q1 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
17485000 | usd |
CY2023Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
144431000 | usd |
CY2022Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
135341000 | usd |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
2178277000 | usd |
CY2022Q1 | us-gaap |
Revenues
Revenues
|
2378409000 | usd |
CY2023Q1 | nvr |
Corporate Interest Income
CorporateInterestIncome
|
29939000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
433810000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
565945000 | usd |
CY2023Q1 | us-gaap |
Assets
Assets
|
6075905000 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
5660973000 | usd |
CY2023Q1 | nvr |
Fair Value Measurement Assumed Gain Loss From Loan Sale
FairValueMeasurementAssumedGainLossFromLoanSale
|
4757000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
|
20 | |
CY2023Q1 | nvr |
Fair Value Measurements Interest Rate Movement Effect
FairValueMeasurementsInterestRateMovementEffect
|
12561000 | usd |
CY2023Q1 | nvr |
Fair Value Measurements Changes In Servicing Rights Value
FairValueMeasurementsChangesInServicingRightsValue
|
31610000 | usd |
CY2023Q1 | nvr |
Fair Value Measurements Security Price Change Gain Loss Included In Earnings
FairValueMeasurementsSecurityPriceChangeGainLossIncludedInEarnings
|
-14175000 | usd |
CY2023Q1 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
|
34753000 | usd |
CY2022 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
|
-7435000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
13492000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
14851000 | usd |
CY2022Q4 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
13745000 | usd |
CY2022Q4 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
15002000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P17Y4M24D | |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
9140000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
8101000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
502000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
464000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
105000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
104000 | usd |
CY2023Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
7492000 | usd |
CY2022Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
6332000 | usd |
CY2023Q1 | us-gaap |
Lease Cost
LeaseCost
|
17239000 | usd |
CY2022Q1 | us-gaap |
Lease Cost
LeaseCost
|
15001000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
7316000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
7169000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
105000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
104000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
400000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
356000 | usd |
CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
13247000 | usd |
CY2022Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
5813000 | usd |
CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
249000 | usd |
CY2022Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
272000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P6Y | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P6Y | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P10Y7M6D | |
CY2022Q4 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P10Y9M18D | |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.038 | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.036 | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.029 | |
CY2022Q4 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.029 | |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.206 | |
CY2022Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.247 | |
CY2023Q1 | nvr |
Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
|
23245000 | usd |
CY2022Q1 | nvr |
Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
|
8446000 | usd |