$NVR
NVR INC

2016 Q1 Form 10-Q Financial Statement

#000156459016017128 Filed on April 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $1.144B $957.7M
YoY Change 19.45% 18.05%
Cost Of Revenue $925.8M $781.7M
YoY Change 18.43% 19.31%
Gross Profit $221.0M $178.0M
YoY Change 24.16% 12.37%
Gross Profit Margin 19.32% 18.59%
Selling, General & Admin $112.6M $109.7M
YoY Change 2.64% 6.61%
% of Gross Profit 50.95% 61.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.447M $5.281M
YoY Change 3.14% 42.35%
% of Gross Profit 2.46% 2.97%
Operating Expenses $112.5M $109.7M
YoY Change 2.55% 6.71%
Operating Profit $108.5M $68.30M
YoY Change 58.86% 22.84%
Interest Expense $5.088M $5.918M
YoY Change -14.03% 2.14%
% of Operating Profit 4.69% 8.66%
Other Income/Expense, Net
YoY Change
Pretax Income $103.3M $62.36M
YoY Change 65.66% 25.46%
Income Tax $38.01M $23.31M
% Of Pretax Income 36.79% 37.37%
Net Earnings $65.30M $39.06M
YoY Change 67.19% 63.77%
Net Earnings / Revenue 5.71% 4.08%
Basic Earnings Per Share $16.81 $9.63
Diluted Earnings Per Share $15.79 $9.22
COMMON SHARES
Basic Shares Outstanding 3.884M 4.057M
Diluted Shares Outstanding 4.135M 4.235M

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $318.0M $531.0M
YoY Change -40.11% -39.56%
Cash & Equivalents $318.0M $532.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.263B $958.1M
Prepaid Expenses
Receivables $13.80M $10.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.595B $1.499B
YoY Change 6.38% -13.71%
LONG-TERM ASSETS
Property, Plant & Equipment $50.00M $52.30M
YoY Change -4.4% 33.08%
Goodwill $441.0K $441.0K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $55.20M $72.40M
YoY Change -23.76% -13.4%
Other Assets
YoY Change
Total Long-Term Assets $947.0M $877.0M
YoY Change 7.98% 11.36%
TOTAL ASSETS
Total Short-Term Assets $1.595B $1.499B
Total Long-Term Assets $947.0M $877.0M
Total Assets $2.542B $2.376B
YoY Change 6.97% -5.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $263.4M $218.0M
YoY Change 20.83% 6.45%
Accrued Expenses $298.0M $266.1M
YoY Change 11.99% -2.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $688.0M $610.1M
YoY Change 12.77% 2.02%
LONG-TERM LIABILITIES
Long-Term Debt $596.0M $599.2M
YoY Change -0.53% 0.02%
Other Long-Term Liabilities $1.200M $1.600M
YoY Change -25.0% -5.88%
Total Long-Term Liabilities $597.2M $600.8M
YoY Change -0.6% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $688.0M $610.1M
Total Long-Term Liabilities $597.2M $600.8M
Total Liabilities $1.285B $1.211B
YoY Change 6.14% 1.02%
SHAREHOLDERS EQUITY
Retained Earnings $5.335B $4.926B
YoY Change 8.31% 6.41%
Common Stock $1.467B $1.371B
YoY Change 7.02% 8.84%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.546B $5.132B
YoY Change 8.07% 12.47%
Treasury Stock Shares $16.66M
Shareholders Equity $1.256B $1.165B
YoY Change
Total Liabilities & Shareholders Equity $2.542B $2.376B
YoY Change 6.97% -5.89%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $65.30M $39.06M
YoY Change 67.19% 63.77%
Depreciation, Depletion And Amortization $5.447M $5.281M
YoY Change 3.14% 42.35%
Cash From Operating Activities -$40.00M -$1.600M
YoY Change 2400.0% -89.86%
INVESTING ACTIVITIES
Capital Expenditures $5.431M $4.893M
YoY Change 11.0% -9.94%
Acquisitions
YoY Change
Other Investing Activities $4.100M $5.400M
YoY Change -24.07% 0.0%
Cash From Investing Activities -$1.400M $500.0K
YoY Change -380.0% 9900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $87.10M $63.10M
YoY Change 38.04% 93.69%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.00M -11.80M
YoY Change 450.85% -140.9%
NET CHANGE
Cash From Operating Activities -40.00M -1.600M
Cash From Investing Activities -1.400M 500.0K
Cash From Financing Activities -65.00M -11.80M
Net Change In Cash -106.4M -12.90M
YoY Change 724.81% -198.7%
FREE CASH FLOW
Cash From Operating Activities -$40.00M -$1.600M
Capital Expenditures $5.431M $4.893M
Free Cash Flow -$45.43M -$6.493M
YoY Change 599.69% -69.4%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q1 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
17343000
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5335417000
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
5546160000
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
1256463000
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2541651000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
103312000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38009000
CY2016Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
688361000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
65303000
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
16.81
CY2016Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
3521000
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
15.79
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3884000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4135000
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5447000
CY2016Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
6284000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
10549000
CY2016Q1 nvr Contract Land Deposit Impairment Recoveries
ContractLandDepositImpairmentRecoveries
-1303000
CY2016Q1 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
17022000
CY2016Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
839297000
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
254639000
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
16660526
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
206000
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Common Stock Shares Held In Employee Trust
CommonStockSharesHeldInEmployeeTrust
17343000
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q1 us-gaap Liabilities
Liabilities
1285188000
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1467000000
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
20555330
CY2016Q1 us-gaap Common Stock Shares Held In Employee Trust Shares
CommonStockSharesHeldInEmployeeTrustShares
108621
CY2016Q1 us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
2353000
CY2016Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
4022000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1382000
CY2016Q1 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
15587000
CY2016Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-10615000
CY2015Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-10352000
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-46277000
CY2016Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
138000
CY2016Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
150000
CY2016Q1 nvr Loss Reserve On Contract Land Deposits
LossReserveOnContractLandDeposits
40910000
CY2016Q1 us-gaap Deposits Assets
DepositsAssets
346951000
CY2016Q1 nvr Letters Of Credit Related To Lots
LettersOfCreditRelatedToLots
3889000
CY2016Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
352345000
CY2016Q1 nvr Finished Lots Committed To Purchase
FinishedLotsCommittedToPurchase
10
CY2016Q1 nvr Number Of Finished Lots Expected To Be Developed From Raw Parcels Of Land
NumberOfFinishedLotsExpectedToBeDevelopedFromRawParcelsOfLand
1700
CY2016Q1 nvr Inventory Real Estate Land Acquisition Costs
InventoryRealEstateLandAcquisitionCosts
150000000
CY2016Q1 nvr Aggregate Additional Funding Commitments Related To Raw Land Property Development
AggregateAdditionalFundingCommitmentsRelatedToRawLandPropertyDevelopment
17500000
CY2016Q1 nvr Number Of Finished Lots Under Contract With Unrelated Parties Expected To Be Developed From Raw Parcels Of Land
NumberOfFinishedLotsUnderContractWithUnrelatedPartiesExpectedToBeDevelopedFromRawParcelsOfLand
130
CY2016Q1 nvr Expected Development Credit Offset Amount
ExpectedDevelopmentCreditOffsetAmount
9300000
CY2016Q1 nvr Contract Land Deposits
ContractLandDeposits
387861000
CY2016Q1 nvr Fair Value Measurements Security Price Change Included In Earnings
FairValueMeasurementsSecurityPriceChangeIncludedInEarnings
-1984000
CY2015Q4 nvr Contract Land Deposits
ContractLandDeposits
385534000
CY2015Q4 nvr Loss Reserve On Contract Land Deposits
LossReserveOnContractLandDeposits
42239000
CY2015Q4 us-gaap Deposits Assets
DepositsAssets
343295000
CY2015Q4 nvr Letters Of Credit Related To Lots
LettersOfCreditRelatedToLots
3302000
CY2016Q1 nvr Contingent Specific Performance Obligations
ContingentSpecificPerformanceObligations
1505000
CY2015Q4 nvr Contingent Specific Performance Obligations
ContingentSpecificPerformanceObligations
1505000
CY2015Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
348102000
CY2015Q4 nvr Finished Lots Committed To Purchase
FinishedLotsCommittedToPurchase
10
CY2016Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
55700000
CY2016Q1 nvr Number Of Joint Ventures
NumberOfJointVentures
6
CY2016Q1 nvr Expected Production Of Finished Lots From Joint Ventures
ExpectedProductionOfFinishedLotsFromJointVentures
7900
CY2016Q1 nvr Joint Venture Lots Under Contract With Company
JointVentureLotsUnderContractWithCompany
4600
CY2016Q1 nvr Joint Venture Lots Either Under Contract With Unrelated Parties Or Not Under Contract
JointVentureLotsEitherUnderContractWithUnrelatedPartiesOrNotUnderContract
3300
CY2016Q1 nvr Aggregate Additional Funding Commitments
AggregateAdditionalFundingCommitments
6700000
CY2016Q1 nvr Number Joint Ventures With Additional Funding Commitment
NumberJointVenturesWithAdditionalFundingCommitment
3
CY2016Q1 nvr Number Of Joint Ventures Company Is Not Primary Beneficiary
NumberOfJointVenturesCompanyIsNotPrimaryBeneficiary
5
CY2016Q1 nvr Number Of Raw Parcels Of Land Owned
NumberOfRawParcelsOfLandOwned
5
CY2016Q1 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
163826000
CY2016Q1 nvr Number Of Lots Expected To Be Produced From Raw Land Acquisition
NumberOfLotsExpectedToBeProducedFromRawLandAcquisition
1000
CY2016Q1 nvr Carrying Value Of Raw Land Acquired In Current Year
CarryingValueOfRawLandAcquiredInCurrentYear
108000000
CY2016Q1 nvr Inventory Land Unsold
InventoryLandUnsold
26000000
CY2016Q1 nvr Inventory Land Sold
InventoryLandSold
13000000
CY2016Q1 nvr Number Of Lots Expected To Produce From Raw Land Acquisition With Unrelated Parties
NumberOfLotsExpectedToProduceFromRawLandAcquisitionWithUnrelatedParties
160
CY2016Q1 nvr Finished Lots Sold Under Contract To Unrelated Party
FinishedLotsSoldUnderContractToUnrelatedParty
34
CY2016Q1 nvr Amount Of Finished Lots Sold Under Contract To Unrelated Party
AmountOfFinishedLotsSoldUnderContractToUnrelatedParty
10500000
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
4434000
CY2016Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
6388000
CY2015Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
6263000
CY2016Q1 us-gaap Interest Expense
InterestExpense
5088000
CY2015Q1 us-gaap Interest Expense
InterestExpense
5918000
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
376000
CY2015Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
146000
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
5358000
CY2015Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
4271000
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
251000
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
178000
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46000
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
28000
CY2016Q1 us-gaap Goodwill
Goodwill
441000
CY2016Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3195000
CY2016Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5583000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
346000
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
346000
CY2016Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2016Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
87101000
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10549000
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
6284000
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
22263000
CY2016Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
56000
CY2016Q1 nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
60000
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
87407000
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
94060000
CY2016Q1 nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
8842000
CY2015Q1 nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
9081000
CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
89743000
CY2016Q1 us-gaap Revenues
Revenues
1144026000
CY2016Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
6676000
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
9557000
CY2015Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
13398000
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
86692000
CY2015Q1 us-gaap Revenues
Revenues
957749000
CY2016Q1 nvr Fair Value Measurement Assumed Gain Loss From Loan Sale
FairValueMeasurementAssumedGainLossFromLoanSale
147000
CY2016Q1 nvr Fair Value Measurements Interest Rate Movement Effect
FairValueMeasurementsInterestRateMovementEffect
2724000
CY2016Q1 nvr Fair Value Measurements Changes In Servicing Rights Value
FairValueMeasurementsChangesInServicingRightsValue
5789000

Files In Submission

Name View Source Status
0001564590-16-017128-index-headers.html Edgar Link pending
0001564590-16-017128-index.html Edgar Link pending
0001564590-16-017128.txt Edgar Link pending
0001564590-16-017128-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
nvr-10q_20160331.htm Edgar Link pending
nvr-20160331.xml Edgar Link completed
nvr-20160331.xsd Edgar Link pending
nvr-20160331_cal.xml Edgar Link unprocessable
nvr-20160331_def.xml Edgar Link unprocessable
nvr-20160331_lab.xml Edgar Link unprocessable
nvr-20160331_pre.xml Edgar Link unprocessable
nvr-ex311_10.htm Edgar Link pending
nvr-ex312_13.htm Edgar Link pending
nvr-ex32_6.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending