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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Net Income $ 367,582 $ 238,312 $ 210,780
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Stock-based compensation expense 30,062 26,016 14,017
Depreciation and amortization 27,166 23,054 21,326
Inventory impairments 0 935 21,850
Net (gain) loss on marketable equity securities 8,285 (11,797) 3,745
Amortization of discount / premiums on marketable debt securities 0 0 (366)
Deferred income tax expense 10,688 13,670 3,729
Net changes in assets and liabilities:      
Trade and other receivables (12,815) (12,997) (4,638)
Mortgage loans held-for-sale (35,535) (47,810) (11,097)
Prepaids and other assets (44,932) (4,694) (245)
Accounts payable and accrued liabilities 91,318 66,205 49,325
Net cash provided by (used in) operating activities (23,095) 57,833 (7,906)
Investing Activities:      
Purchases of marketable securities (10,804) (11,708) (18,850)
Maturities of marketable securities 0 0 50,000
Sales of marketable securities 59,266 7,637 16,230
Purchases of property and equipment (26,777) (24,714) (27,166)
Net cash provided by (used in) investing activities 21,685 (28,785) 20,214
Financing Activities:      
Advances on mortgage repurchase facility, net 52,774 32,801 4,475
Payments of senior notes (250,000) 0 0
Proceeds from issuance of senior notes 298,050 0 0
Dividend payments (89,008) (73,117) (67,718)
Payments of deferred debt issuance costs (4,471) 0 (3,026)
Issuance of shares under stock-based compensation programs, net 28,825 15,341 9,860
Net cash provided by (used in) financing activities 31,170 (24,975) (56,409)
Net increase (decrease) in cash, cash equivalents and restricted cash 29,760 4,073 (44,101)
Cash, cash equivalents and restricted cash:      
Beginning of year 474,212 470,139 514,240
End of year 503,972 474,212 470,139
Reconciliation of cash, cash equivalents and restricted cash:      
Total cash, cash equivalents and restricted cash 474,212 474,212 470,139
Homebuilding Line of Credit Facility [Member]      
Financing Activities:      
Payments on homebuilding line of credit, net (5,000) 0 0
Homebuilding Segment      
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Inventory impairments 0 935 21,850
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 411,362 424,186 414,724
Restricted cash 15,343 14,279 6,363
Financial Services Segment      
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 77,267 35,747 49,052
Housing completed or under construction      
Net changes in assets and liabilities:      
Housing completed or under construction and land under development (449,882) (83,484) (12,082)
Land and land under development      
Net changes in assets and liabilities:      
Housing completed or under construction and land under development $ (15,032) $ (149,577) $ (304,250)