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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 219,562 $ 64,576
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,655 6,842
Stock-based compensation expense 7,212 8,588
Fair value of mortgage loans held for sale and other 3,359 (6,175)
Inventory impairment and other 41 1,691
Deferred income taxes (5,942) (1,322)
Loss on disposition of assets 804 914
Changes in assets and liabilities:    
Cash held in escrow (14,491) (11,311)
Accounts receivable (8,505) 4,592
Inventories (56,779) 138,049
Mortgage loans held for sale 42,659 (30,990)
Prepaid expenses and other assets (25,694) 13,229
Accounts payable (27,103) (35,158)
Accrued expenses and other liabilities 2,643 20,259
Net cash provided by operating activities 143,421 173,784
Investing activities    
Purchases of property and equipment (4,405) (4,913)
Other investing activities 54 62
Net cash used in investing activities (4,351) (4,851)
Financing activities    
Borrowings under revolving credit facilities   678,000
Payments on revolving credit facilities   (746,700)
Proceeds from issuance of insurance premium notes and other 9,477 4,542
Principal payments on insurance notes payable (3,854) (4,220)
Net proceeds (payments) on mortgage repurchase facilities (99,274) 23,374
Withholding of common stock upon vesting of restricted stock units (13,726) (5,145)
Dividend payments (5,065)  
Other (34) (345)
Net cash used in financing activities (112,476) (50,494)
Net increase 26,594 118,439
Cash and cash equivalents and Restricted cash, Beginning of period 398,081 58,521
Cash and cash equivalents and Restricted cash, End of period 424,675 176,960
Supplemental cash flow disclosure    
Cash paid for income taxes 78,909 410
Cash and cash equivalents and Restricted cash    
Cash and cash equivalents 419,416 173,521
Restricted cash (Note 5) $ 5,259 $ 3,439