2017 Form 10-K Financial Statement

#000082241618000009 Filed on February 07, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016 Q3
Revenue $8.573B $2.493B $1.943B
YoY Change 11.8% 20.93% 28.95%
Cost Of Revenue $6.715B $1.682B $1.524B
YoY Change 17.21% 8.14% 32.88%
Gross Profit $1.858B $810.9M $419.0M
YoY Change -4.23% 60.26% 16.39%
Gross Profit Margin 21.67% 32.53% 21.57%
Selling, General & Admin $891.6M $390.8M $250.9M
YoY Change -6.85% 181.15% 57.45%
% of Gross Profit 47.99% 48.19% 59.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.20M $13.80M $13.50M
YoY Change -7.46% 10.4% 14.41%
% of Gross Profit 2.0% 1.7% 3.22%
Operating Expenses $891.6M $395.6M $250.9M
YoY Change -6.85% 199.24% 57.45%
Operating Profit $966.4M $415.3M $168.1M
YoY Change -1.67% 11.1% -16.22%
Interest Expense $503.0K $4.300M $1.200M
YoY Change -26.68% 26.47% 491.13%
% of Operating Profit 0.05% 1.04% 0.71%
Other Income/Expense, Net -$32.39M -$23.62M
YoY Change -43.05% 10.71%
Pretax Income $938.8M $413.7M $212.3M
YoY Change 0.53% 10.82% 18.44%
Income Tax $491.6M $140.5M $83.87M
% Of Pretax Income 52.36% 33.97% 39.5%
Net Earnings $447.2M $273.2M $128.5M
YoY Change -25.8% 19.8% 19.21%
Net Earnings / Revenue 5.22% 10.96% 6.61%
Basic Earnings Per Share $1.45 $0.83 $0.37
Diluted Earnings Per Share $1.44 $0.83 $0.37
COMMON SHARES
Basic Shares Outstanding 305.1M shares 326.0M shares 340.2M shares
Diluted Shares Outstanding 306.8M shares 327.8M shares 342.4M shares

Balance Sheet

Concept 2017 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $273.0M $699.0M $434.0M
YoY Change -60.94% -7.29% -40.87%
Cash & Equivalents $273.0M $698.9M $434.2M
Short-Term Investments
Other Short-Term Assets $117.0M
YoY Change 9.35%
Inventory $7.147B $6.771B $6.950B
Prepaid Expenses
Receivables $66.50M
Other Receivables
Total Short-Term Assets $7.544B $7.470B $7.384B
YoY Change -0.55% 20.41% 23.58%
LONG-TERM ASSETS
Property, Plant & Equipment $71.00M $77.44M
YoY Change -7.79% -10.27%
Goodwill
YoY Change
Intangibles $154.8M $158.2M
YoY Change 40.45% 39.49%
Long-Term Investments $634.0M $51.45M $51.77M
YoY Change 7.28% 24.67% 24.72%
Other Assets $747.0M $1.106B $1.280B
YoY Change -32.46% -26.17% -22.89%
Total Long-Term Assets $2.143B $2.708B $2.488B
YoY Change -17.32% -9.29% -11.99%
TOTAL ASSETS
Total Short-Term Assets $7.544B $7.470B $7.384B
Total Long-Term Assets $2.143B $2.708B $2.488B
Total Assets $9.687B $10.18B $9.872B
YoY Change -4.82% 10.76% 12.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $321.0M $405.0M $378.0M
YoY Change 4.9% 51.69% 17.39%
Accrued Expenses $185.0M $1.447B $1.267B
YoY Change 5.71% -4.49% -7.38%
Deferred Revenue
YoY Change
Short-Term Debt $472.0M $332.0M $159.0M
YoY Change 42.17% 23.88% 47.22%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.389B $2.407B $2.086B
YoY Change 20.26% 2.25% -2.57%
LONG-TERM LIABILITIES
Long-Term Debt $3.007B $3.110B $3.110B
YoY Change -4.21% 49.88% 49.23%
Other Long-Term Liabilities $1.137B $2.000M $3.000M
YoY Change -7.26% 100.0% -40.0%
Total Long-Term Liabilities $4.144B $3.112B $3.113B
YoY Change -5.06% 49.9% 49.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.389B $2.407B $2.086B
Total Long-Term Liabilities $4.144B $3.112B $3.113B
Total Liabilities $5.533B $5.519B $5.200B
YoY Change 0.25% 24.58% 22.92%
SHAREHOLDERS EQUITY
Retained Earnings $1.540B
YoY Change -7.36%
Common Stock $3.191M
YoY Change -8.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.154B $4.659B $4.672B
YoY Change
Total Liabilities & Shareholders Equity $9.687B $10.18B $9.872B
YoY Change -4.82% 10.76% 12.16%

Cashflow Statement

Concept 2017 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $447.2M $273.2M $128.5M
YoY Change -25.8% 19.8% 19.21%
Depreciation, Depletion And Amortization $37.20M $13.80M $13.50M
YoY Change -7.46% 10.4% 14.41%
Cash From Operating Activities $663.1M $374.8M $18.80M
YoY Change 871.26% -504.31% -134.94%
INVESTING ACTIVITIES
Capital Expenditures $32.05M -$8.700M -$9.600M
YoY Change -18.43% -23.68% -11.93%
Acquisitions
YoY Change
Other Investing Activities -$4.846M $7.100M -$700.0K
YoY Change -63.01% -353.57% -30.0%
Cash From Investing Activities -$50.24M -$1.600M -$10.20M
YoY Change -89.34% -88.73% -14.29%
FINANCING ACTIVITIES
Cash Dividend Paid $112.7M
YoY Change -9.56%
Common Stock Issuance & Retirement, Net $882.6M
YoY Change 47.75%
Debt Paid & Issued, Net $134.7M
YoY Change -86.35%
Cash From Financing Activities -$1.030B -111.1M 202.1M
YoY Change -393.65% -184.29% -40.47%
NET CHANGE
Cash From Operating Activities $663.1M 374.8M 18.80M
Cash From Investing Activities -$50.24M -1.600M -10.20M
Cash From Financing Activities -$1.030B -111.1M 202.1M
Net Change In Cash -$417.1M 262.1M 210.7M
YoY Change 699.2% 952.61% -23.05%
FREE CASH FLOW
Cash From Operating Activities $663.1M $374.8M $18.80M
Capital Expenditures $32.05M -$8.700M -$9.600M
Free Cash Flow $631.0M $383.5M $28.40M
YoY Change 2077.84% -571.71% -166.2%

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134449000 USD
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1474000 USD
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CY2017Q4 us-gaap Customer Advances And Deposits
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3243750000 USD
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P3Y
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11200000 USD
CY2017Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
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14000000 USD
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13057000 USD
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311699000 USD
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33804000 USD
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
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53917000 USD
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28391000 USD
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17860000 USD
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12600000 USD
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14600000 USD
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15700000 USD
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40200000 USD
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2165000 USD
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0.24
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-0.010
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0.37
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0.26
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1.44
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0.395
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0.355
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0.524
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0.350
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0.004
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-0.022
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-0.011
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0.003
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0.005
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.183
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0.009
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0.002
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0.028
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0.033
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0.031
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0.001
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-0.013
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2800000 USD
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-2200000 USD
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82047000 USD
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108573000 USD
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119289000 USD
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140753000 USD
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35848000 USD
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48020000 USD
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54175000 USD
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47275000 USD
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46952000 USD
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56166000 USD
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P20Y
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162600000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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176400000 USD
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13800000 USD
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5650000 USD
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10404000 USD
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13800000 USD
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13800000 USD
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277000000 USD
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277000000 USD
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80800000 USD
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109600000 USD
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110900000 USD
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19800000 USD
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0 USD
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CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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4235945000 USD
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5587974000 USD
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6461152000 USD
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5792675000 USD
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7451315000 USD
CY2017 us-gaap Home Building Revenue
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8323984000 USD
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0 USD
CY2016 us-gaap Impairment Losses Related To Real Estate Partnerships
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0 USD
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8000000 USD
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8017000 USD
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7347000 USD
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1074000 USD
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88952000 USD
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816023000 USD
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118213000 USD
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189580000 USD
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212335000 USD
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413721000 USD
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933850000 USD
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139265000 USD
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122547000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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268249000 USD
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408767000 USD
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938828000 USD
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7355000 USD
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8337000 USD
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321933000 USD
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34913000 USD
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71820000 USD
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83865000 USD
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140549000 USD
CY2016 us-gaap Income Tax Expense Benefit
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331147000 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
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47747000 USD
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21798000 USD
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90710000 USD
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331352000 USD
CY2017 us-gaap Income Tax Expense Benefit
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491607000 USD
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9272000 USD
CY2017Q4 us-gaap Income Tax Receivable
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6964000 USD
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-5654000 USD
CY2016 us-gaap Income Taxes Paid Net
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2743000 USD
CY2017 us-gaap Income Taxes Paid Net
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14875000 USD
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-23898000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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75257000 USD
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65684000 USD
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-311699000 USD
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-334787000 USD
CY2017 us-gaap Increase Decrease In Deferred Income Taxes
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-422307000 USD
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917298000 USD
CY2016 us-gaap Increase Decrease In Inventories
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897092000 USD
CY2017 us-gaap Increase Decrease In Inventories
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569030000 USD
CY2015 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
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-64775000 USD
CY2016 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
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-57132000 USD
CY2017 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
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-97789000 USD
CY2015 us-gaap Increase Decrease In Mortgage Loans Held For Sale
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CY2016 us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
99527000 USD
CY2017 us-gaap Increase Decrease In Mortgage Loans Held For Sale
IncreaseDecreaseInMortgageLoansHeldForSale
33009000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
175150000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
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45721000 USD
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-55099000 USD
CY2015 us-gaap Increase Decrease In Self Insurance Reserve
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-29600000 USD
CY2016Q4 us-gaap Insurance Settlements Receivable
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307344000 USD
CY2017Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
213407000 USD
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154792000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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140992000 USD
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788000 USD
CY2016 us-gaap Interest Expense Other
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686000 USD
CY2017 us-gaap Interest Expense Other
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503000 USD
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3107000 USD
CY2016 us-gaap Interest Income Other
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3236000 USD
CY2017 us-gaap Interest Income Other
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2537000 USD
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50793000 USD
CY2017Q4 us-gaap Interest Payable Current And Noncurrent
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50620000 USD
CY2015Q4 us-gaap Inventory Homes Under Construction
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1408260000 USD
CY2016Q4 us-gaap Inventory Homes Under Construction
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1921259000 USD
CY2016Q4 us-gaap Inventory Real Estate Mortgage Loans Held In Inventory
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529700000 USD
CY2017Q4 us-gaap Inventory Homes Under Construction
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2421405000 USD
CY2015Q4 us-gaap Inventory Operative Builders
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5450058000 USD
CY2016Q4 us-gaap Inventory Operative Builders
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6770655000 USD
CY2017Q4 us-gaap Inventory Operative Builders
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7147130000 USD
CY2016Q4 us-gaap Inventory Real Estate Held For Sale
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31728000 USD
CY2017Q4 us-gaap Inventory Real Estate Held For Sale
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68384000 USD
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589911000 USD
CY2017Q4 us-gaap Loans Held For Sale Fair Value Disclosure
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570600000 USD
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8400000 USD
CY2017Q4 us-gaap Loans Receivable Net
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11200000 USD
CY2017Q4 us-gaap Inventory Real Estate Mortgage Loans Held In Inventory
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553500000 USD
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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0 USD
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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0 USD
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3259066000 USD
CY2016Q4 us-gaap Land Available For Development
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4072109000 USD
CY2017Q4 us-gaap Land Available For Development
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4135814000 USD
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48536000 USD
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36035000 USD
CY2017 us-gaap Land Sales
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57106000 USD
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27700000 USD
CY2016 us-gaap Lease And Rental Expense
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33000000 USD
CY2017 us-gaap Lease And Rental Expense
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30800000 USD
CY2016Q4 us-gaap Letters Of Credit Outstanding Amount
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219100000 USD
CY2017Q4 us-gaap Letters Of Credit Outstanding Amount
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235500000 USD
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5518837000 USD
CY2017Q4 us-gaap Liabilities
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5532623000 USD
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10178200000 USD
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9686649000 USD
CY2016Q4 us-gaap Line Of Credit
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331621000 USD
CY2017Q4 us-gaap Line Of Credit
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CY2016Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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530900000 USD
CY2017Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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764500000 USD
CY2015 us-gaap Litigation Settlement Expense
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20000000 USD
CY2016 us-gaap Litigation Settlement Expense
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15000000 USD
CY2016Q4 us-gaap Loans Held For Sale Fair Value Disclosure
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539496000 USD
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2300000000 USD
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700000000 USD
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46381000 USD
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35114000 USD
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34641000 USD
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408000 USD
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11773000 USD
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423000 USD
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-11433000 USD
CY2016 us-gaap Loss Contingency Accrual Provision
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506000 USD
CY2017 us-gaap Loss Contingency Accrual Provision
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CY2017Q4 us-gaap Loss Contingency Pending Claims Number
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1000 claim
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32600000 USD
CY2017 us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
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P60D
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-161631000 USD
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-50242000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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350735000 USD
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-1029915000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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-34564000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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-337590000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
68270000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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663077000 USD
CY2015 us-gaap Net Income Loss
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494090000 USD
CY2016Q1 us-gaap Net Income Loss
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83300000 USD
CY2016Q2 us-gaap Net Income Loss
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117760000 USD
CY2016Q3 us-gaap Net Income Loss
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128470000 USD
CY2016Q4 us-gaap Net Income Loss
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273172000 USD
CY2016 us-gaap Net Income Loss
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602703000 USD
CY2017Q1 us-gaap Net Income Loss
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CY2017Q2 us-gaap Net Income Loss
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100749000 USD
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CY2017Q4 us-gaap Net Income Loss
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CY2017 us-gaap Net Income Loss
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CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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597981000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
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442649000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
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490906000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Diluted
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598001000 USD
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CY2017Q4 us-gaap Notes Payable
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3006967000 USD
CY2016Q4 us-gaap Notes Payable Fair Value Disclosure
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3131579000 USD
CY2017Q4 us-gaap Notes Payable Fair Value Disclosure
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3263774000 USD
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29111000 USD
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16768000 USD
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6 segment
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25040000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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16798000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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23561000 USD
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CY2017Q4 us-gaap Other Assets
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41357000 USD
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36070000 USD
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81000 USD
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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83000 USD
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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81000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
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81000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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83000 USD
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81000 USD
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1789000 USD
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1104000 USD
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6653000 USD
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17101000 USD
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CY2016 us-gaap Payments For Losses And Loss Adjustment Expense
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134289000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
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45440000 USD
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39295000 USD
CY2017 us-gaap Payments For Losses And Loss Adjustment Expense
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55960000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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32051000 USD
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19282000 USD
CY2017Q4 us-gaap Other Notes Payable
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20024000 USD
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90714000 USD
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322883000 USD
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305543000 USD
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755000 USD
CY2016 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1100000 USD
CY2017 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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1192000 USD
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CY2017 us-gaap Payments For Proceeds From Other Investing Activities
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CY2015 us-gaap Payments For Repurchase Of Common Stock
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442738000 USD
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603206000 USD
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115958000 USD
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124666000 USD
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112748000 USD
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0 USD
CY2016 us-gaap Payments To Acquire Businesses Gross
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430458000 USD
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0 USD
CY2015 us-gaap Payments To Acquire Equity Method Investments
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454000 USD
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14539000 USD
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23037000 USD
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14500000 USD
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23000000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
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0.01
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25000000 shares
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25000000 shares
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0 USD
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10535000 USD
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
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0 shares
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0 USD
CY2017Q4 us-gaap Preferred Stock Value
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0 USD
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106748000 USD
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116912000 USD
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0 USD
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5845000 USD
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27720000 USD
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498087000 USD
CY2015 us-gaap Production Related Impairments Or Charges
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11467000 USD
CY2016 us-gaap Production Related Impairments Or Charges
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19336000 USD
CY2017 us-gaap Production Related Impairments Or Charges
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191912000 USD
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77444000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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70706000 USD
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195436000 USD
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1995937000 USD
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
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125000000 USD
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619000000 USD
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2720000000 USD
CY2015 us-gaap Proceeds From Repayments Of Lines Of Credit
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127636000 USD
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63744000 USD
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106183000 USD
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4074000 USD
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15341000 USD
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207987000 USD
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167638000 USD
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149498000 USD
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186097000 USD
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226611000 USD
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138141000 USD
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123907000 USD
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141205000 USD
CY2015 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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120001000 USD
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160506000 USD
CY2017 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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181719000 USD
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1756832000 USD
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1894885000 USD
CY2016Q4 us-gaap Real Estate Revenue Net
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2438903000 USD
CY2016 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
7487350000 USD
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1587061000 USD
CY2017Q2 us-gaap Real Estate Revenue Net
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1973571000 USD
CY2017Q3 us-gaap Real Estate Revenue Net
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2083067000 USD
CY2017Q4 us-gaap Real Estate Revenue Net
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2737391000 USD
CY2017 us-gaap Real Estate Revenue Net
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8381090000 USD
CY2017 us-gaap Repayments Of Debt
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500000000 USD
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125000000 USD
CY2016 us-gaap Repayments Of Lines Of Credit
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619000000 USD
CY2017 us-gaap Repayments Of Lines Of Credit
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2720000000 USD
CY2015 us-gaap Repayments Of Long Term Debt
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239193000 USD
CY2016 us-gaap Repayments Of Long Term Debt
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986919000 USD
CY2017 us-gaap Repayments Of Long Term Debt
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134747000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
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24366000 USD
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33485000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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1540208000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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980061000 USD
CY2015 us-gaap Revenues
Revenues
5981964000 USD
CY2016Q1 us-gaap Revenues
Revenues
1432578000 USD
CY2016Q2 us-gaap Revenues
Revenues
1799914000 USD
CY2016Q3 us-gaap Revenues
Revenues
1942905000 USD
CY2016Q4 us-gaap Revenues
Revenues
2493078000 USD
CY2016 us-gaap Revenues
Revenues
7668476000 USD
CY2017Q1 us-gaap Revenues
Revenues
1628828000 USD
CY2017Q2 us-gaap Revenues
Revenues
2020846000 USD
CY2017Q3 us-gaap Revenues
Revenues
2130019000 USD
CY2017Q4 us-gaap Revenues
Revenues
2793557000 USD
CY2017 us-gaap Revenues
Revenues
8573250000 USD
CY2014Q4 us-gaap Self Insurance Reserve
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995692000 USD
CY2015Q4 us-gaap Self Insurance Reserve
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924563000 USD
CY2016Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
831058000 USD
CY2017Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
758812000 USD
CY2015 us-gaap Selling General And Administrative Expense
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794728000 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
957150000 USD
CY2017 us-gaap Selling General And Administrative Expense
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891581000 USD
CY2016Q4 us-gaap Senior Notes
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3110016000 USD
CY2017Q4 us-gaap Senior Notes
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2986943000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
24752000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
22228000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
33683000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
25000000 shares
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1168000 shares
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1168000 shares
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
11
CY2017Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
11
CY2017 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P1Y11M
CY2017Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
40000000 USD
CY2014Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
65389000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
61179000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
66134000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
72709000 USD
CY2015 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
60968000 USD
CY2016 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
55892000 USD
CY2017 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
58780000 USD
CY2015 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
52684000 USD
CY2016 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
67169000 USD
CY2017 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
50014000 USD
CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
7424000 USD
CY2016 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
8856000 USD
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
3565000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
10534000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5845000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
27720000 USD
CY2015 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
442738000 USD
CY2016 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
603206000 USD
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
916323000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
4804954000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
4759325000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
4659363000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
4154026000 USD
CY2015 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
2429000 USD
CY2016 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
3602000 USD
CY2017 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
3361000 USD
CY2015 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2448000 USD
CY2016 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3622000 USD
CY2017 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3380000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
32911000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
38992000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
21502000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
48604000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
13218000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
9665000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
707000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
12200000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
4900000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
318000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
114000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
18895000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
5763000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
224000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
20555000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3903000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2683000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
14000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
23400000 USD
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3217000 shares
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2662000 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2759000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2250000 shares
CY2016Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1834000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2376000 shares
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2329000 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1565000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1690000 shares
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1318000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1725000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
359793000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
350477000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
347999000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
342421000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
327809000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
342123000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
320085000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
313880000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
300228000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
293492000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
306814000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
356576000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
347815000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
345240000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
340171000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
325975000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
339747000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317756000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
312315000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
298538000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
292174000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
305089000 shares
CY2017 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Advertising costs are expensed to selling, general, and administrative expense as incurred and totaled </font><font style="font-family:inherit;font-size:10pt;">$45.0 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$50.7 million</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">$45.3 million</font><font style="font-family:inherit;font-size:10pt;">, in </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2017 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We record receivables from various parties in the normal course of business, including amounts due from insurance companies (see </font><a style="font-family:inherit;font-size:10pt;" href="#sE3B487D74A5741B049157CF216CC01A4"><font style="font-family:inherit;font-size:10pt;">Note 11</font></a><font style="font-family:inherit;font-size:10pt;">), municipalities, and vendors. In certain instances, we may accept consideration for land sales or other transactions in the form of a note receivable</font></div></div>
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;padding-left: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;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Effective with our fourth quarter 2017 reporting, we reclassified limited recourse notes payable to notes payable from accrued and other liabilities and also reclassified certain timing differences between deferred tax assets and deferred tax liabilities. All prior period amounts have been reclassified to conform to the current presentation.</font></div></div>
CY2017 us-gaap Revenue Recognition Incentives
RevenueRecognitionIncentives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">When sales incentives involve a discount on the selling price of the home, we record the discount as a reduction of revenue at the time of house closing. If the sales incentive requires us to provide a free product or service to the customer, the cost of the free product or service is recorded as cost of revenues at the time of house closing. This includes the cost related to optional upgrades and seller-paid financing costs, closing costs, homeowners&#8217; association fees, or merchandise.</font></div></div>
CY2017 us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest income on mortgage loans is recorded in Financial Services revenues, accrued from the date a mortgage loan is originated until the loan is sold, and totaled </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$9.5 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8.0 million</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2017</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Loans are placed on non-accrual status once they become greater than </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">90</font><font style="font-family:inherit;font-size:10pt;"> days past due their contractual terms. Subsequent payments received are applied according to the contractual terms of the loan. Mortgage discounts are not amortized as interest income due to the short period the loans are held until sale to third party investors</font></div></div>
CY2017 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues associated with our title operations are recognized within Financial Services revenues as closing services are rendered and title insurance policies are issued, both of which generally occur as each home is closed.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;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>

Files In Submission

Name View Source Status
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0000822416-18-000009.txt Edgar Link pending
0000822416-18-000009-xbrl.zip Edgar Link pending
a201710-k.htm Edgar Link pending
exhibit10l-amendedrsuagree.htm Edgar Link pending
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