$NVR
NVR INC

2015 Q3 Form 10-Q Financial Statement

#000156459015009895 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q4 2014 Q3
Revenue $1.402B $1.330B $1.203B
YoY Change 16.56% 6.89% 1.19%
Cost Of Revenue $1.112B $1.071B $960.1M
YoY Change 15.79% 6.91% -0.45%
Gross Profit $293.7M $259.8M $245.6M
YoY Change 19.58% 6.78% 8.1%
Gross Profit Margin 20.94% 19.53% 20.41%
Selling, General & Admin $102.6M $102.7M $96.10M
YoY Change 6.76% 19.84% 6.9%
% of Gross Profit 34.93% 39.53% 39.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.500M $5.000M $4.700M
YoY Change 17.02% 25.0% 30.56%
% of Gross Profit 1.87% 1.92% 1.91%
Operating Expenses $102.6M $102.7M $96.00M
YoY Change 6.88% 19.84% 6.79%
Operating Profit $191.1M $157.1M $149.6M
YoY Change 27.74% -0.32% 8.96%
Interest Expense $6.081M -$5.800M $5.775M
YoY Change 5.3% 0.0% 1.64%
% of Operating Profit 3.18% -3.69% 3.86%
Other Income/Expense, Net
YoY Change
Pretax Income $185.0M $151.2M $143.8M
YoY Change 28.66% -0.4% 9.27%
Income Tax $68.53M $51.80M $53.64M
% Of Pretax Income 37.04% 34.26% 37.3%
Net Earnings $116.5M $99.45M $90.15M
YoY Change 29.19% 1.68% 8.7%
Net Earnings / Revenue 8.31% 7.48% 7.49%
Basic Earnings Per Share $28.75 $21.49
Diluted Earnings Per Share $27.11 $23.24 $20.70
COMMON SHARES
Basic Shares Outstanding 4.050M 4.096M shares 4.196M
Diluted Shares Outstanding 4.296M 4.354M

Balance Sheet

Concept 2015 Q3 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $386.3M $544.9M $463.7M
YoY Change -16.69% -37.05% -42.87%
Cash & Equivalents $387.5M $545.4M $466.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.163B $873.1M $1.020B
Prepaid Expenses
Receivables $9.900M $10.00M $11.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.560B $1.428B $1.495B
YoY Change 4.3% -11.9% -14.64%
LONG-TERM ASSETS
Property, Plant & Equipment $50.40M $52.40M $52.80M
YoY Change -4.55% 40.48% 47.49%
Goodwill $441.0K $441.0K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $63.50M $80.10M $83.80M
YoY Change -24.22% -11.49% 6.62%
Other Assets $165.2M
YoY Change 1.72%
Total Long-Term Assets $1.011B $923.3M $917.9M
YoY Change 10.17% 6.71% 19.62%
TOTAL ASSETS
Total Short-Term Assets $1.560B $1.428B $1.495B
Total Long-Term Assets $1.011B $923.3M $917.9M
Total Assets $2.571B $2.351B $2.413B
YoY Change 6.53% -5.42% -4.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $295.7M $230.4M $250.4M
YoY Change 18.09% 13.22% 0.68%
Accrued Expenses $301.6M $289.1M $289.7M
YoY Change 4.11% -8.57% 6.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $100.0K $700.0K
YoY Change -100.0% -97.06% 16.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $729.4M $626.4M $660.2M
YoY Change 10.48% 0.37% 2.79%
LONG-TERM LIABILITIES
Long-Term Debt $599.2M $599.2M $599.1M
YoY Change 0.02% 0.02% 0.0%
Other Long-Term Liabilities $1.600M $1.600M $2.300M
YoY Change -30.43% 0.0% -8.0%
Total Long-Term Liabilities $600.8M $600.8M $601.4M
YoY Change -0.1% 0.02% -0.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $729.4M $626.4M $660.2M
Total Long-Term Liabilities $600.8M $600.8M $601.4M
Total Liabilities $1.330B $1.227B $1.262B
YoY Change 5.43% 0.19% 1.44%
SHAREHOLDERS EQUITY
Retained Earnings $4.887B $4.788B
YoY Change 6.12% 6.21%
Common Stock $1.326B $1.300B
YoY Change 9.36% 7.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.089B $4.936B
YoY Change 11.68% 11.14%
Treasury Stock Shares $16.57M $16.51M 16.39M shares
Shareholders Equity $1.240B $1.124B $1.151B
YoY Change
Total Liabilities & Shareholders Equity $2.571B $2.351B $2.413B
YoY Change 6.53% -5.42% -4.2%

Cashflow Statement

Concept 2015 Q3 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $116.5M $99.45M $90.15M
YoY Change 29.19% 1.68% 8.7%
Depreciation, Depletion And Amortization $5.500M $5.000M $4.700M
YoY Change 17.02% 25.0% 30.56%
Cash From Operating Activities $56.00M $226.4M -$24.80M
YoY Change -325.81% 24.4% -113.88%
INVESTING ACTIVITIES
Capital Expenditures -$4.900M -$4.400M -$6.500M
YoY Change -24.62% -10.2% 8.33%
Acquisitions
YoY Change
Other Investing Activities $3.200M $3.300M $700.0K
YoY Change 357.14% -130.0% -82.93%
Cash From Investing Activities -$1.700M -$1.100M -$5.800M
YoY Change -70.69% -93.08% 205.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -164.4M -146.2M -56.80M
YoY Change 189.44% 28.13% -59.72%
NET CHANGE
Cash From Operating Activities 56.00M 226.4M -24.80M
Cash From Investing Activities -1.700M -1.100M -5.800M
Cash From Financing Activities -164.4M -146.2M -56.80M
Net Change In Cash -110.1M 79.10M -87.40M
YoY Change 25.97% 52.12% -344.13%
FREE CASH FLOW
Cash From Operating Activities $56.00M $226.4M -$24.80M
Capital Expenditures -$4.900M -$4.400M -$6.500M
Free Cash Flow $60.90M $230.8M -$18.30M
YoY Change -432.79% 23.49% -109.91%

Facts In Submission

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LetterOfCreditRelatedToLandUnderDevelopment
2200000
CY2015Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
288000
CY2014Q3 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
301000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
263446000
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
94060000
CY2013Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
101507000
nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
32899000
nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
35556000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
41028000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
42751000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
39874000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
14465000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
76419000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
183000
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
116000
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
85874000
CY2014Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
97190000
CY2015Q3 nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
12674000
CY2014Q3 nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
12103000
CY2015Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12617000
CY2014Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
14981000
CY2015Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
85931000
CY2014Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
94312000
nvr Fair Value Measurements Security Price Change Included In Earnings
FairValueMeasurementsSecurityPriceChangeIncludedInEarnings
-4701000

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