2021 Q1 Form 10-Q Financial Statement

#000156168021000067 Filed on April 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $721.0M $597.1M
YoY Change 20.75% 20.71%
Cost Of Revenue $545.5M $473.1M
YoY Change 15.3% 13.24%
Gross Profit $175.5M $123.3M
YoY Change 42.29% 73.69%
Gross Profit Margin 24.34% 20.66%
Selling, General & Admin $81.81M $82.47M
YoY Change -0.81% 6.3%
% of Gross Profit 46.61% 66.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.130M $5.456M
YoY Change 30.68% 7.3%
% of Gross Profit 4.06% 4.42%
Operating Expenses $81.81M $82.47M
YoY Change -0.81% 6.3%
Operating Profit $90.92M $39.27M
YoY Change 131.5% -671.09%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $108.0K $373.0K
YoY Change -71.05% -94.02%
Pretax Income $94.40M $41.70M
YoY Change 126.36% 43798.95%
Income Tax $23.60M $9.800M
% Of Pretax Income 25.0% 23.5%
Net Earnings $70.80M $31.88M
YoY Change 122.07% 44805.63%
Net Earnings / Revenue 9.82% 5.34%
Basic Earnings Per Share $0.59 $0.24
Diluted Earnings Per Share $0.59 $0.24
COMMON SHARES
Basic Shares Outstanding 119.4M shares 134.4M shares
Diluted Shares Outstanding 120.1M shares 135.0M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $584.7M $624.1M
YoY Change -6.31% 319.42%
Cash & Equivalents $584.7M $624.1M
Short-Term Investments
Other Short-Term Assets $11.70M $26.50M
YoY Change -55.85% -12.83%
Inventory $3.016B $3.194B
Prepaid Expenses
Receivables $34.80M $43.70M
Other Receivables $46.60M $40.00M
Total Short-Term Assets $3.694B $3.928B
YoY Change -5.97% 12.88%
LONG-TERM ASSETS
Property, Plant & Equipment $50.67M $60.88M
YoY Change -16.77% 7.83%
Goodwill $139.3M $139.3M
YoY Change 0.0% 0.0%
Intangibles $18.26M $20.46M
YoY Change -10.72% -2.54%
Long-Term Investments $68.20M $11.10M
YoY Change 514.41% 164.29%
Other Assets $47.10M $50.30M
YoY Change -6.36% -31.19%
Total Long-Term Assets $399.2M $364.7M
YoY Change 9.46% -2.96%
TOTAL ASSETS
Total Short-Term Assets $3.694B $3.928B
Total Long-Term Assets $399.2M $364.7M
Total Assets $4.093B $4.293B
YoY Change -4.66% 11.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $118.9M $77.30M
YoY Change 53.82% 16.07%
Accrued Expenses $281.8M $265.7M
YoY Change 6.06% -2.57%
Deferred Revenue $55.74M $28.05M
YoY Change 98.73%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $490.4M $379.2M
YoY Change 29.32% 1.99%
LONG-TERM LIABILITIES
Long-Term Debt $1.344B $1.785B
YoY Change -24.71% 26.36%
Other Long-Term Liabilities $19.00M $13.70M
YoY Change 38.69% -6.16%
Total Long-Term Liabilities $1.363B $1.799B
YoY Change -24.23% 26.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $490.4M $379.2M
Total Long-Term Liabilities $1.363B $1.799B
Total Liabilities $1.853B $2.178B
YoY Change -14.9% 21.06%
SHAREHOLDERS EQUITY
Retained Earnings $1.957B $1.636B
YoY Change 19.63% 17.11%
Common Stock $282.8M $479.4M
YoY Change -41.02% -27.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.240B $2.115B
YoY Change
Total Liabilities & Shareholders Equity $4.093B $4.293B
YoY Change -4.66% 11.34%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $70.80M $31.88M
YoY Change 122.07% 44805.63%
Depreciation, Depletion And Amortization $7.130M $5.456M
YoY Change 30.68% 7.3%
Cash From Operating Activities $30.20M -$88.97M
YoY Change -133.95% -22.58%
INVESTING ACTIVITIES
Capital Expenditures $5.684M $8.239M
YoY Change -31.01% 14.05%
Acquisitions
YoY Change
Other Investing Activities $6.100M -$900.0K
YoY Change -777.78% 350.0%
Cash From Investing Activities $399.0K -$9.151M
YoY Change -104.36% 22.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $65.43M $102.0M
YoY Change -35.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$67.23M $393.2M
YoY Change -117.1% -6111.97%
NET CHANGE
Cash From Operating Activities $30.20M -$88.97M
Cash From Investing Activities $399.0K -$9.151M
Cash From Financing Activities -$67.23M $393.2M
Net Change In Cash -$36.63M $295.1M
YoY Change -112.41% -328.93%
FREE CASH FLOW
Cash From Operating Activities $30.20M -$88.97M
Capital Expenditures $5.684M $8.239M
Free Cash Flow $24.52M -$97.21M
YoY Change -125.22% -20.41%

Facts In Submission

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CY2021Q1 us-gaap Use Of Estimates
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.</span></div>
CY2021Q1 tph Number Of Principal Businesses
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120086573 shares
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135038481 shares
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EarningsPerShareBasic
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EarningsPerShareBasic
0.24
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EarningsPerShareDiluted
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InsuranceSettlementsReceivable
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AllowanceForDoubtfulAccountsReceivable
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RealEstateInventoriesOwnedModelHomes
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InterestExpense
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InterestExpense
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RealEstateInventoryCapitalizedInterestCosts
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CY2019Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2021Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
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CY2020Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
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CY2021Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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CY2020Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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RealEstateInventoryCapitalizedInterestCosts
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RealEstateInventoryCapitalizedInterestCosts
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CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
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ImpairmentOfRealEstate
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LandOptionAbandonmentsAndPreAcquisitionCharges
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ProductionRelatedImpairmentsOrCharges
213000 USD
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ProductionRelatedImpairmentsOrCharges
349000 USD
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VariableInterestEntityDepositsAtRisk
134107000 USD
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VariableInterestEntityRemainingPurchasePrice
965212000 USD
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VariableInterestEntityConsolidatedInventoryHeld
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VariableInterestEntityDepositsAtRisk
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VariableInterestEntityRemainingPurchasePrice
935351000 USD
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VariableInterestEntityConsolidatedInventoryHeld
0 USD
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Goodwill
139300000 USD
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Goodwill
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Goodwill
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Goodwill
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Goodwill
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IntangibleAssetsGrossExcludingGoodwill
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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IntangibleAssetsGrossExcludingGoodwill
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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IntangibleAssetsNetExcludingGoodwill
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IntangibleAssetsGrossIncludingGoodwill
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RealEstateHeldForDevelopmentAndSale
1528000 USD
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DeferredFinanceCostsNet
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1300000 USD
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OtherAssetsMiscellaneous
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CY2021Q1 us-gaap Other Assets
OtherAssets
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CY2020Q4 us-gaap Other Assets
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CY2021Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
18525000 USD
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EmployeeRelatedLiabilitiesCurrentAndNoncurrent
48893000 USD
CY2021Q1 us-gaap Product Warranty Accrual
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CY2021Q1 tph Estimated Cost For Completion Of Real Estate Inventories
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EstimatedCostForCompletionOfRealEstateInventories
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CY2021Q1 us-gaap Contract With Customer Liability Current
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55741000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
43602000 USD
CY2021Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
307000 USD
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TaxesPayableCurrentAndNoncurrent
240000 USD
CY2021Q1 us-gaap Accrued Income Taxes
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33689000 USD
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13329000 USD
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InterestPayableCurrentAndNoncurrent
20454000 USD
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InterestPayableCurrentAndNoncurrent
4655000 USD
CY2021Q1 tph Other Tax Liability
OtherTaxLiability
2934000 USD
CY2020Q4 tph Other Tax Liability
OtherTaxLiability
2180000 USD
CY2021Q1 us-gaap Deferred Tax Assets Valuation Allowance
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3400000 USD
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20500000 USD
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54674000 USD
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53239000 USD
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18970000 USD
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12835000 USD
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390493000 USD
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366740000 USD
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258979000 USD
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20800000 USD
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4700000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
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9800000 USD
CY2021Q1 us-gaap Loss Contingency Accrual At Carrying Value
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0 USD
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1300000 USD
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CY2020Q1 us-gaap Product Warranty Accrual Warranties Issued
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P2Y2M12D
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3400000 USD
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957000 USD
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9000 USD
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228000 USD
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302000 USD
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871000 USD

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