2016 Q1 Form 10-Q Financial Statement
#000156459017007726 Filed on April 28, 2017
Income Statement
| Concept | 2016 Q1 |
|---|---|
| Revenue | $1.144B |
| YoY Change | 19.45% |
| Cost Of Revenue | $925.8M |
| YoY Change | 18.43% |
| Gross Profit | $221.0M |
| YoY Change | 24.16% |
| Gross Profit Margin | 19.32% |
| Selling, General & Admin | $112.6M |
| YoY Change | 2.64% |
| % of Gross Profit | 50.95% |
| Research & Development | |
| YoY Change | |
| % of Gross Profit | |
| Depreciation & Amortization | $5.447M |
| YoY Change | 3.14% |
| % of Gross Profit | 2.46% |
| Operating Expenses | $112.5M |
| YoY Change | 2.55% |
| Operating Profit | $108.5M |
| YoY Change | 58.86% |
| Interest Expense | $5.088M |
| YoY Change | -14.03% |
| % of Operating Profit | 4.69% |
| Other Income/Expense, Net | |
| YoY Change | |
| Pretax Income | $103.3M |
| YoY Change | 65.66% |
| Income Tax | $38.01M |
| % Of Pretax Income | 36.79% |
| Net Earnings | $65.30M |
| YoY Change | 67.19% |
| Net Earnings / Revenue | 5.71% |
| Basic Earnings Per Share | $16.81 |
| Diluted Earnings Per Share | $15.79 |
| COMMON SHARES | |
| Basic Shares Outstanding | 3.884M |
| Diluted Shares Outstanding | 4.135M |
Balance Sheet
| Concept | 2016 Q1 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $318.0M |
| YoY Change | -40.11% |
| Cash & Equivalents | $318.0M |
| Short-Term Investments | |
| Other Short-Term Assets | |
| YoY Change | |
| Inventory | $1.263B |
| Prepaid Expenses | |
| Receivables | $13.80M |
| Other Receivables | $0.00 |
| Total Short-Term Assets | $1.595B |
| YoY Change | 6.38% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $50.00M |
| YoY Change | -4.4% |
| Goodwill | $441.0K |
| YoY Change | 0.0% |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | $55.20M |
| YoY Change | -23.76% |
| Other Assets | |
| YoY Change | |
| Total Long-Term Assets | $947.0M |
| YoY Change | 7.98% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $1.595B |
| Total Long-Term Assets | $947.0M |
| Total Assets | $2.542B |
| YoY Change | 6.97% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $263.4M |
| YoY Change | 20.83% |
| Accrued Expenses | $298.0M |
| YoY Change | 11.99% |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $0.00 |
| YoY Change | |
| Long-Term Debt Due | |
| YoY Change | |
| Total Short-Term Liabilities | $688.0M |
| YoY Change | 12.77% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $596.0M |
| YoY Change | -0.53% |
| Other Long-Term Liabilities | $1.200M |
| YoY Change | -25.0% |
| Total Long-Term Liabilities | $597.2M |
| YoY Change | -0.6% |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $688.0M |
| Total Long-Term Liabilities | $597.2M |
| Total Liabilities | $1.285B |
| YoY Change | 6.14% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | $5.335B |
| YoY Change | 8.31% |
| Common Stock | $1.467B |
| YoY Change | 7.02% |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | $5.546B |
| YoY Change | 8.07% |
| Treasury Stock Shares | $16.66M |
| Shareholders Equity | $1.256B |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $2.542B |
| YoY Change | 6.97% |
Cashflow Statement
| Concept | 2016 Q1 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | $65.30M |
| YoY Change | 67.19% |
| Depreciation, Depletion And Amortization | $5.447M |
| YoY Change | 3.14% |
| Cash From Operating Activities | -$40.00M |
| YoY Change | 2400.0% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | $5.431M |
| YoY Change | 11.0% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | $4.100M |
| YoY Change | -24.07% |
| Cash From Investing Activities | -$1.400M |
| YoY Change | -380.0% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | $87.10M |
| YoY Change | 38.04% |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | -65.00M |
| YoY Change | 450.85% |
| NET CHANGE | |
| Cash From Operating Activities | -40.00M |
| Cash From Investing Activities | -1.400M |
| Cash From Financing Activities | -65.00M |
| Net Change In Cash | -106.4M |
| YoY Change | 724.81% |
| FREE CASH FLOW | |
| Cash From Operating Activities | -$40.00M |
| Capital Expenditures | $5.431M |
| Free Cash Flow | -$45.43M |
| YoY Change | 599.69% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2017Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4097000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4135000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
15587000 | |
| CY2017Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
5699000 | |
| CY2016Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
5447000 | |
| CY2017Q1 | us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
-16024000 | |
| CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10549000 | |
| CY2016Q1 | us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
-10615000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-39993000 | |
| CY2016Q1 | nvr |
Contract Land Deposit Impairment Recoveries
ContractLandDepositImpairmentRecoveries
|
-1303000 | |
| CY2016Q1 | us-gaap |
Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
|
17022000 | |
| CY2016Q1 | us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
688361000 | |
| CY2016Q1 | us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
839297000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1382000 | |
| CY2016Q1 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
3521000 | |
| CY2017Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
132161000 | |
| CY2016Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
103312000 | |
| CY2017Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
29238000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
254639000 | |
| CY2016Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
38009000 | |
| CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
102923000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
|
2353000 | |
| CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
65303000 | |
| CY2017Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
27.78 | |
| CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3705000 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
4022000 | |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3884000 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
16.81 | |
| CY2017Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
25.12 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
15.79 | |
| CY2017Q1 | us-gaap |
Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
|
455000 | |
| CY2016Q1 | us-gaap |
Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
|
138000 | |
| CY2017Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
2480000 | |
| CY2016Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
4017000 | |
| CY2017Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5161000 | |
| CY2016Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5431000 | |
| CY2017Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
177000 | |
| CY2016Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
199000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2959000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1353000 | |
| CY2017Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
85547000 | |
| CY2016Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
87101000 | |
| CY2017Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
75265000 | |
| CY2016Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
22263000 | |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-10282000 | |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-64988000 | |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
97142000 | |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-106334000 | |
| CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
396619000 | |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
425316000 | |
| CY2017Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
11536000 | |
| CY2016Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
10837000 | |
| CY2017Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
7079000 | |
| CY2016Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
16516000 | |
| CY2017Q1 | nvr |
Contract Land Deposits
ContractLandDeposits
|
401737000 | |
| CY2017Q1 | nvr |
Loss Reserve On Contract Land Deposits
LossReserveOnContractLandDeposits
|
32034000 | |
| CY2017Q1 | us-gaap |
Deposits Assets
DepositsAssets
|
369703000 | |
| CY2017Q1 | nvr |
Letters Of Credit Related To Lots
LettersOfCreditRelatedToLots
|
2552000 | |
| CY2017Q1 | nvr |
Specific Performance Obligations
SpecificPerformanceObligations
|
1505000 | |
| CY2016Q4 | nvr |
Specific Performance Obligations
SpecificPerformanceObligations
|
1505000 | |
| CY2017Q1 | us-gaap |
Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
|
373760000 | |
| CY2017Q1 | nvr |
Finished Lots Committed To Purchase
FinishedLotsCommittedToPurchase
|
10 | |
| CY2017Q1 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
47700000 | |
| CY2017Q1 | nvr |
Number Of Joint Ventures
NumberOfJointVentures
|
6 | |
| CY2017Q1 | nvr |
Expected Production Of Finished Lots From Joint Ventures
ExpectedProductionOfFinishedLotsFromJointVentures
|
7400 | |
| CY2017Q1 | nvr |
Joint Venture Lots Controlled By Company
JointVentureLotsControlledByCompany
|
4100 | |
| CY2017Q1 | nvr |
Joint Venture Lots Either Under Contract With Unrelated Parties Or Not Under Contract
JointVentureLotsEitherUnderContractWithUnrelatedPartiesOrNotUnderContract
|
3300 | |
| CY2017Q1 | nvr |
Aggregate Additional Funding Commitments
AggregateAdditionalFundingCommitments
|
5800000 | |
| CY2017Q1 | nvr |
Number Joint Ventures With Additional Funding Commitment
NumberJointVenturesWithAdditionalFundingCommitment
|
3 | |
| CY2017Q1 | nvr |
Number Of Joint Ventures Company Is Not Primary Beneficiary
NumberOfJointVenturesCompanyIsNotPrimaryBeneficiary
|
5 | |
| CY2017Q1 | nvr |
Inventory Real Estate Land Acquisition Costs
InventoryRealEstateLandAcquisitionCosts
|
14400000 | |
| CY2017Q1 | nvr |
Number Of Lots Expected To Be Produce From Raw Land Parcel
NumberOfLotsExpectedToBeProduceFromRawLandParcel
|
90 | |
| CY2017Q1 | nvr |
Number Of Raw Parcels Of Land Owned
NumberOfRawParcelsOfLandOwned
|
4 | |
| CY2017Q1 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
63684000 | |
| CY2017Q1 | nvr |
Number Of Finished Lots Expected To Be Developed From Raw Parcels Of Land
NumberOfFinishedLotsExpectedToBeDevelopedFromRawParcelsOfLand
|
700 | |
| CY2017Q1 | nvr |
Aggregate Additional Funding Commitments Related To Raw Land Property Development
AggregateAdditionalFundingCommitmentsRelatedToRawLandPropertyDevelopment
|
11200000 | |
| CY2017Q1 | nvr |
Expected Development Credit Offset Amount
ExpectedDevelopmentCreditOffsetAmount
|
6200000 | |
| CY2017Q1 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
265000 | |
| CY2016Q1 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
|
376000 | |
| CY2016Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.368 | |
| CY2017Q1 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
0 | |
| CY2017Q1 | us-gaap |
Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
|
609000 | |
| CY2017Q1 | us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
85547000 | |
| CY2017Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10589000 | |
| CY2017Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
75265000 | |
| CY2017Q1 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
51000 | |
| CY2017Q1 | nvr |
Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
|
94000 | |
| CY2016Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
93895000 | |
| CY2017Q1 | nvr |
Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
|
8961000 | |
| CY2017Q1 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
9353000 | |
| CY2017Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
93503000 | |
| CY2017Q1 | us-gaap |
Revenues
Revenues
|
1277092000 | |
| CY2017Q1 | nvr |
Fair Value Measurement Assumed Gain Loss From Loan Sale
FairValueMeasurementAssumedGainLossFromLoanSale
|
-3850000 | |
| CY2017Q1 | nvr |
Fair Value Measurements Interest Rate Movement Effect
FairValueMeasurementsInterestRateMovementEffect
|
1362000 | |
| CY2017Q1 | nvr |
Fair Value Measurements Changes In Servicing Rights Value
FairValueMeasurementsChangesInServicingRightsValue
|
8000000 | |
| CY2017Q1 | nvr |
Fair Value Measurements Security Price Change Gain Loss Included In Earnings
FairValueMeasurementsSecurityPriceChangeGainLossIncludedInEarnings
|
-3343000 | |
| CY2017Q1 | us-gaap |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
|
2169000 | |
| CY2017Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.221 |
