$TMHC
Taylor Morrison Home Corp

2015 Q1 Form 10-Q Financial Statement

#000119312515177212 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $509.4M $470.5M
YoY Change 8.28% 40.15%
Cost Of Revenue $414.8M $367.1M
YoY Change 12.99% 22.37%
Gross Profit $94.58M $103.4M
YoY Change -8.51% 52.27%
Gross Profit Margin 18.57% 21.97%
Selling, General & Admin $56.92M $52.63M
YoY Change 8.17% 13.7%
% of Gross Profit 60.18% 50.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $861.0K -$387.0K
YoY Change -322.48% -129.75%
% of Gross Profit 0.91% -0.37%
Operating Expenses $56.92M $52.63M
YoY Change 8.17% 13.7%
Operating Profit $37.66M $50.76M
YoY Change -25.8% 134.88%
Interest Expense $30.30M $300.0K
YoY Change 10000.0% -91.67%
% of Operating Profit 80.46% 0.59%
Other Income/Expense, Net -$5.721M -$3.784M
YoY Change 51.19% 409.97%
Pretax Income $62.22M $47.96M
YoY Change 29.75% 70.49%
Income Tax $22.04M $10.96M
% Of Pretax Income 35.42% 22.85%
Net Earnings $25.96M $10.93M
YoY Change 137.49%
Net Earnings / Revenue 5.1% 2.32%
Basic Earnings Per Share $0.79 $0.33
Diluted Earnings Per Share $0.79 $0.33
COMMON SHARES
Basic Shares Outstanding 33.07M shares 32.86M shares
Diluted Shares Outstanding 122.4M shares 122.3M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $399.5M $433.0M
YoY Change -7.74% 81.93%
Cash & Equivalents $399.5M $433.0M
Short-Term Investments
Other Short-Term Assets $101.9M $120.5M
YoY Change -15.44% -28.57%
Inventory $2.755B $2.483B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.356B $3.104B
YoY Change 8.11% 44.73%
LONG-TERM ASSETS
Property, Plant & Equipment $4.893M $7.355M
YoY Change -33.47% 18.63%
Goodwill $23.38M $23.38M
YoY Change 0.0%
Intangibles $6.392M $12.69M
YoY Change -49.61%
Long-Term Investments $144.2M $199.7M
YoY Change -27.79% 86.46%
Other Assets $335.5M $341.3M
YoY Change -1.7% 4.05%
Total Long-Term Assets $514.3M $630.4M
YoY Change -18.43% -129.4%
TOTAL ASSETS
Total Short-Term Assets $3.356B $3.104B
Total Long-Term Assets $514.3M $630.4M
Total Assets $3.870B $3.734B
YoY Change 3.63% 1955872.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.8M $123.2M
YoY Change 11.04% 64144.97%
Accrued Expenses $179.5M $194.5M
YoY Change -7.71% 5.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $441.8M $448.6M
YoY Change -1.52% -22.85%
LONG-TERM LIABILITIES
Long-Term Debt $1.572B $1.698B
YoY Change -7.41% 74.08%
Other Long-Term Liabilities $4.600M $14.10M
YoY Change -67.38%
Total Long-Term Liabilities $1.577B $1.712B
YoY Change -7.91% 75.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $441.8M $448.6M
Total Long-Term Liabilities $1.577B $1.712B
Total Liabilities $2.019B $2.161B
YoY Change -6.57% 38.09%
SHAREHOLDERS EQUITY
Retained Earnings $140.9M $54.41M
YoY Change 158.97% -2931727.16%
Common Stock $375.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $498.3M $1.574B
YoY Change
Total Liabilities & Shareholders Equity $3.870B $3.734B
YoY Change 3.63% 1955872.97%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $25.96M $10.93M
YoY Change 137.49%
Depreciation, Depletion And Amortization $861.0K -$387.0K
YoY Change -322.48% -129.75%
Cash From Operating Activities -$170.2M -$246.4M
YoY Change -30.95% 362.11%
INVESTING ACTIVITIES
Capital Expenditures $317.0K -$693.0K
YoY Change -145.74% -280.47%
Acquisitions
YoY Change
Other Investing Activities $296.8M -$2.300M
YoY Change -13004.35% 155.56%
Cash From Investing Activities $296.4M -$2.345M
YoY Change -12741.71% 82.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$169.0M 299.3M
YoY Change -156.46% -7532.75%
NET CHANGE
Cash From Operating Activities -$170.2M -246.4M
Cash From Investing Activities $296.4M -2.345M
Cash From Financing Activities -$169.0M 299.3M
Net Change In Cash -$42.72M 50.53M
YoY Change -184.56% -186.16%
FREE CASH FLOW
Cash From Operating Activities -$170.2M -$246.4M
Capital Expenditures $317.0K -$693.0K
Free Cash Flow -$170.5M -$245.8M
YoY Change -30.62% 357.51%

Facts In Submission

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CY2015Q1 dei Document Type
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CY2015Q1 dei Entity Registrant Name
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Taylor Morrison Home Corp
CY2015Q1 dei Trading Symbol
TradingSymbol
TMHC
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<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 Consolidated Financial Statements and accompanying notes. Significant estimates include real estate development costs to complete, valuation of 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>
CY2015Q1 dei Document Period End Date
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CY2015Q1 dei Document Fiscal Year Focus
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DiscontinuedOperationTaxEffectOfDiscontinuedOperation
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CY2015Q1 tmhc Weighted Average Number Of Shares Outstanding Conversion Of Principal Equityholders Noncontrolling Interest
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CY2015Q1 tmhc Share Based Compensation By Share Based Payment Award Unamortized Compensation Expense
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CY2015Q1 tmhc Common Stock Exchange Under Agreement Description
CommonStockExchangeUnderAgreementDescription
One share of Class B Common Stock, together with one New TMM Unit is exchangeable into one share of our Class A Common Stock in accordance with the Exchange Agreement, dated as of April 9, 2013, among the Company, New TMM and the holders of Class B Common Stock and New TMM Units.
CY2015Q1 tmhc Net Income Loss From Continuing Operations Diluted
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CY2015Q1 tmhc Repayments Of Revolving Credit Facility
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40000000

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