2014 Q2 Form 10-Q Financial Statement

#000082241614000033 Filed on July 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $1.286B $1.279B
YoY Change 0.53% 19.64%
Cost Of Revenue $981.6M $1.035B
YoY Change -5.12% 15.3%
Gross Profit $304.5M $244.9M
YoY Change 24.34% 42.3%
Gross Profit Margin 23.67% 19.14%
Selling, General & Admin $229.8M $150.5M
YoY Change 52.64% 21.21%
% of Gross Profit 75.46% 61.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00M $7.800M
YoY Change 28.21% 5.41%
% of Gross Profit 3.28% 3.18%
Operating Expenses $229.8M $150.5M
YoY Change 52.64% 21.21%
Operating Profit $74.73M $94.37M
YoY Change -20.81% 96.95%
Interest Expense $203.0K $166.0K
YoY Change 22.29% -16.16%
% of Operating Profit 0.27% 0.18%
Other Income/Expense, Net -$9.324M -$57.34M
YoY Change -83.74% 446.19%
Pretax Income $67.68M $38.33M
YoY Change 76.57% -4.0%
Income Tax $25.80M $1.913M
% Of Pretax Income 38.12% 4.99%
Net Earnings $41.88M $36.42M
YoY Change 15.0% -14.18%
Net Earnings / Revenue 3.26% 2.85%
Basic Earnings Per Share $0.11 $0.09
Diluted Earnings Per Share $0.11 $0.09
COMMON SHARES
Basic Shares Outstanding 376.1M shares 385.4M shares
Diluted Shares Outstanding 379.7M shares 391.2M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.171B $1.213B
YoY Change -3.46% -7.4%
Cash & Equivalents $1.171B $1.213B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $4.197B $4.183B
Prepaid Expenses
Receivables $9.700M $8.200M
Other Receivables
Total Short-Term Assets $5.368B $5.425B
YoY Change -1.05% -7.91%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $129.6M $142.7M
YoY Change -9.18% -8.41%
Long-Term Investments $40.13M $44.38M
YoY Change -9.57% 40.54%
Other Assets $2.184B $156.0M
YoY Change 1300.0% -30.97%
Total Long-Term Assets $3.099B $1.027B
YoY Change 201.71% -3.25%
TOTAL ASSETS
Total Short-Term Assets $5.368B $5.425B
Total Long-Term Assets $3.099B $1.027B
Total Assets $8.467B $6.452B
YoY Change 31.23% -7.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $217.0M $170.0M
YoY Change 27.65% -5.03%
Accrued Expenses $1.297B $1.407B
YoY Change -7.82% 5.0%
Deferred Revenue
YoY Change
Short-Term Debt $59.00M $98.00M
YoY Change -39.8% 180.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.010B $1.876B
YoY Change 7.14% 6.23%
LONG-TERM LIABILITIES
Long-Term Debt $1.816B $2.082B
YoY Change -12.78% -32.71%
Other Long-Term Liabilities $4.000M $167.0M
YoY Change -97.6% 42.74%
Total Long-Term Liabilities $1.820B $2.249B
YoY Change -19.08% -29.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.010B $1.876B
Total Long-Term Liabilities $1.820B $2.249B
Total Liabilities $3.829B $4.124B
YoY Change -7.15% -17.15%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.638B $2.328B
YoY Change
Total Liabilities & Shareholders Equity $8.467B $6.452B
YoY Change 31.23% -7.2%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $41.88M $36.42M
YoY Change 15.0% -14.18%
Depreciation, Depletion And Amortization $10.00M $7.800M
YoY Change 28.21% 5.41%
Cash From Operating Activities -$17.10M $64.50M
YoY Change -126.51% -33.37%
INVESTING ACTIVITIES
Capital Expenditures -$15.10M -$5.600M
YoY Change 169.64% 75.0%
Acquisitions
YoY Change
Other Investing Activities -$25.30M -$600.0K
YoY Change 4116.67% -108.96%
Cash From Investing Activities -$40.50M -$6.200M
YoY Change 553.23% -277.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -39.70M -438.5M
YoY Change -90.95% 27306.25%
NET CHANGE
Cash From Operating Activities -17.10M 64.50M
Cash From Investing Activities -40.50M -6.200M
Cash From Financing Activities -39.70M -438.5M
Net Change In Cash -97.30M -380.2M
YoY Change -74.41% -485.21%
FREE CASH FLOW
Cash From Operating Activities -$17.10M $64.50M
Capital Expenditures -$15.10M -$5.600M
Free Cash Flow -$2.000M $70.10M
YoY Change -102.85% -29.9%

Facts In Submission

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us-gaap Loss Contingency Accrual Provision
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us-gaap Loss Contingency Accrual Provision
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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200000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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CY2014Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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us-gaap Real Estate Revenue Net
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us-gaap Revenues
Revenues
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CY2014Q2 us-gaap Standard Product Warranty Accrual
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us-gaap Undistributed Earnings Allocated To Participating Securities
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us-gaap Undistributed Earnings Diluted
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CY2014Q2 us-gaap Unrecognized Tax Benefits
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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phm Actual Loss Severities Percentage On Mortgage Repurchase Requests
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phm Additions To Self Insurance Reserves
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phm Additions To Self Insurance Reserves
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phm Equity In Income Loss Of Subsidiaries
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0 USD
phm Equity In Income Loss Of Subsidiaries
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0 USD
CY2014Q2 phm Equity In Income Loss Of Subsidiaries
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0 USD
CY2013Q2 phm Income Loss Before Equity In Income Loss Of Subsidiaries
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phm Income Loss Before Equity In Income Loss Of Subsidiaries
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phm Income Loss Before Equity In Income Loss Of Subsidiaries
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118179000 USD
CY2014Q2 phm Income Loss Before Equity In Income Loss Of Subsidiaries
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CY2013Q2 phm Income Loss Before Income Taxes And Equity In Income Loss Of Subsidiaries
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phm Income Loss Before Income Taxes And Equity In Income Loss Of Subsidiaries
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phm Income Loss Before Income Taxes And Equity In Income Loss Of Subsidiaries
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CY2014Q2 phm Incurred But Not Reported Percentage Of Liability Reserves
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0.75
CY2013Q2 phm Intercompany Interest
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phm Intercompany Interest
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0 USD
phm Intercompany Interest
IntercompanyInterest
0 USD
CY2014Q2 phm Intercompany Interest
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CY2014Q2 phm Investments In Joint Ventures With Debt Nonrecourse To Company
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CY2013Q4 phm Investments In Joint Ventures With Debt Nonrecourse To Company
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CY2014Q2 phm Investments In Other Joint Ventures
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CY2013Q4 phm Joint Venture Debt Company Proportionate Share Total
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CY2014Q2 phm Joint Venture Debt Company Proportionate Share Total
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8322000 USD
CY2013Q4 phm Joint Venture Debt Nonrecourse To Company
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3654000 USD
CY2014Q2 phm Joint Venture Debt Nonrecourse To Company
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7489000 USD
CY2013Q4 phm Joint Venture Debt Total
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12408000 USD
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20376000 USD
CY2014Q2 phm Joint Venture Debt With Limited Recourse Guaranties
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833000 USD
CY2013Q4 phm Joint Venture Debt With Limited Recourse Guaranties
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CY2014Q2 phm Land Held For Sale Gross
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CY2013Q4 phm Land Held For Sale Gross
LandHeldForSaleGross
70003000 USD
CY2013Q4 phm Land Held For Sale Nrv Reserves
LandHeldForSaleNRVReserves
8268000 USD
CY2014Q2 phm Land Held For Sale Nrv Reserves
LandHeldForSaleNRVReserves
7893000 USD
CY2014Q2 phm Liability For Land Under Option Contracts
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27294000 USD
CY2013Q4 phm Liability For Land Under Option Contracts
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24024000 USD
phm Maximum Product Warranty In Years
MaximumProductWarrantyInYears
P10Y
phm Percentage Of Loan Origination Repurchase Requests In Which Company Is Able To Cure Or Refute Claim
PercentageOfLoanOriginationRepurchaseRequestsInWhichCompanyIsAbleToCureOrRefuteClaim
0.60
CY2014Q2 phm Remaining Purchase Price Of All Land Option Agreements
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1644551000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
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--12-31
CY2013Q4 phm Remaining Purchase Price Of All Land Option Agreements
RemainingPurchasePriceOfAllLandOptionAgreements
1390286000 USD
phm Write Off Of Deposits And Pre Acquisition Costs
WriteOffOfDepositsAndPreAcquisitionCosts
3152000 USD
CY2014Q2 phm Surety Bonds Outstanding
SuretyBondsOutstanding
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CY2013Q4 phm Surety Bonds Outstanding
SuretyBondsOutstanding
958300000 USD
phm Total Dividends And Distribution Of Earnings From Unconsolidated Entities
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12400000 USD
phm Total Dividends And Distribution Of Earnings From Unconsolidated Entities
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1500000 USD
CY2013Q2 phm Write Off Of Deposits And Pre Acquisition Costs
WriteOffOfDepositsAndPreAcquisitionCosts
250000 USD
CY2014Q2 phm Write Off Of Deposits And Pre Acquisition Costs
WriteOffOfDepositsAndPreAcquisitionCosts
1688000 USD
phm Write Off Of Deposits And Pre Acquisition Costs
WriteOffOfDepositsAndPreAcquisitionCosts
591000 USD
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000822416
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
375945651 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
PULTEGROUP INC/MI/
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0000822416-14-000033-index-headers.html Edgar Link pending
0000822416-14-000033-index.html Edgar Link pending
0000822416-14-000033.txt Edgar Link pending
0000822416-14-000033-xbrl.zip Edgar Link pending
exhibit31aceocertification.htm Edgar Link pending
exhibit31bcfocertification.htm Edgar Link pending
exhibit32-certification630.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
phm-20140630.xml Edgar Link completed
phm-20140630.xsd Edgar Link pending
phm-20140630_cal.xml Edgar Link unprocessable
phm-20140630_def.xml Edgar Link unprocessable
phm-20140630_lab.xml Edgar Link unprocessable
phm-20140630_pre.xml Edgar Link unprocessable
phm0630201410-q.htm Edgar Link pending
pultegroupinccreditagreeme.htm Edgar Link pending
pultegroupinccreditag_image1.jpg Edgar Link pending
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