2014 Q2 Form 10-Q Financial Statement

#000119312514296050 Filed on August 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $597.0M $450.4M
YoY Change 32.56% 41.56%
Cost Of Revenue $469.7M $403.9M
YoY Change 16.29% 57.59%
Gross Profit $127.4M $90.96M
YoY Change 40.01% 47.01%
Gross Profit Margin 21.33% 20.2%
Selling, General & Admin $58.77M $60.17M
YoY Change -2.33% 110.63%
% of Gross Profit 46.15% 66.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.600M $1.400M
YoY Change 85.71% 27.27%
% of Gross Profit 2.04% 1.54%
Operating Expenses $58.77M $60.17M
YoY Change -2.33% 110.63%
Operating Profit $68.58M $30.79M
YoY Change 122.77% -7.56%
Interest Expense $1.200M $7.800M
YoY Change -84.62% 27.87%
% of Operating Profit 1.75% 25.34%
Other Income/Expense, Net -$4.327M -$541.0K
YoY Change 699.82% -155.89%
Pretax Income $65.51M -$160.6M
YoY Change -140.79% -960.67%
Income Tax $20.11M -$69.50M
% Of Pretax Income 30.69%
Net Earnings $14.82M $5.327M
YoY Change 178.13% -81.54%
Net Earnings / Revenue 2.48% 1.18%
Basic Earnings Per Share $0.45 $0.16
Diluted Earnings Per Share $0.45 $0.16
COMMON SHARES
Basic Shares Outstanding 32.88M shares 32.81M shares
Diluted Shares Outstanding 122.4M shares 122.3M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.8M $421.1M
YoY Change -28.57%
Cash & Equivalents $300.8M $421.1M
Short-Term Investments
Other Short-Term Assets $117.6M $171.8M
YoY Change -31.55%
Inventory $2.729B $2.103B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.236B $2.696B
YoY Change 20.03%
LONG-TERM ASSETS
Property, Plant & Equipment $7.721M $5.839M
YoY Change 32.23%
Goodwill $23.38M $14.59M
YoY Change 60.17%
Intangibles $11.83M $22.28M
YoY Change -46.91%
Long-Term Investments $234.0M $115.0M
YoY Change 103.48%
Other Assets $347.2M $334.1M
YoY Change 3.92%
Total Long-Term Assets $677.8M $559.8M
YoY Change 21.09%
TOTAL ASSETS
Total Short-Term Assets $3.236B $2.696B
Total Long-Term Assets $677.8M $559.8M
Total Assets $3.913B $3.255B
YoY Change 20.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $153.4M $113.5M
YoY Change 35.15%
Accrued Expenses $191.3M $185.0M
YoY Change 3.41%
Deferred Revenue
YoY Change
Short-Term Debt $40.00M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $533.5M $447.5M
YoY Change 19.22%
LONG-TERM LIABILITIES
Long-Term Debt $1.721B $1.392B
YoY Change 23.58%
Other Long-Term Liabilities $16.60M
YoY Change
Total Long-Term Liabilities $1.737B $1.392B
YoY Change 24.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $533.5M $447.5M
Total Long-Term Liabilities $1.737B $1.392B
Total Liabilities $2.271B $1.840B
YoY Change 23.43%
SHAREHOLDERS EQUITY
Retained Earnings $69.23M $5.327M
YoY Change 1199.55%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $442.0M $1.416B
YoY Change
Total Liabilities & Shareholders Equity $3.913B $3.255B
YoY Change 20.21%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $14.82M $5.327M
YoY Change 178.13% -81.54%
Depreciation, Depletion And Amortization $2.600M $1.400M
YoY Change 85.71% 27.27%
Cash From Operating Activities -$104.5M -$241.2M
YoY Change -56.67% 2841.46%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$400.0K
YoY Change 350.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$45.90M -$800.0K
YoY Change 5637.5% -88.57%
Cash From Investing Activities -$47.60M -$1.200M
YoY Change 3866.67% -83.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.50M 434.7M
YoY Change -97.12% 104.08%
NET CHANGE
Cash From Operating Activities -104.5M -241.2M
Cash From Investing Activities -47.60M -1.200M
Cash From Financing Activities 12.50M 434.7M
Net Change In Cash -139.6M 192.3M
YoY Change -172.59% -2.58%
FREE CASH FLOW
Cash From Operating Activities -$104.5M -$241.2M
Capital Expenditures -$1.800M -$400.0K
Free Cash Flow -$102.7M -$240.8M
YoY Change -57.35% 2987.18%

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10-Q
dei Entity Registrant Name
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Taylor Morrison Home Corp
dei Trading Symbol
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TMHC
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b>Use of Estimates</b>&#xA0;&#x2014; The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the condensed and consolidated financial statements and accompanying notes. Significant estimates include purchase price allocations, valuation of certain real estate, valuation of equity awards, valuation allowance on deferred tax assets and reserves for warranty and self-insured risks. Actual results could differ from those estimates.</p> </div>
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300000

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