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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities:    
Net income $ 36,760 $ 40,550
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock-based compensation expense 4,440 4,251
Depreciation and amortization 5,152 4,878
Inventory impairments 0 610
Net (gain) loss on marketable equity securities 13,268 (4,840)
Deferred income tax expense 1,131 2,696
Net changes in assets and liabilities:    
Trade and other receivables (1,611) (13,771)
Mortgage loans held-for-sale, net 63,100 38,401
Prepaid and other assets (8,460) 1,085
Accounts payable and accrued liabilities (1,131) (3,153)
Net cash provided by (used in) operating activities (37,173) 54,348
Investing Activities:    
Purchases of marketable securities (9,782) (4,785)
Sales of marketable securities 9,276 4,737
Purchases of property and equipment (6,512) (6,386)
Net cash used in investing activities (7,018) (6,434)
Financing Activities:    
Payments on mortgage repurchase facility, net (40,872) (31,959)
Repayment of senior notes (250,000) 0
Proceeds from issuance of senior notes 298,050 0
Dividend payments (20,768) (17,115)
Issuance of shares under stock-based compensation programs, net 8,194 7,087
Net cash used in financing activities (5,396) (41,987)
Net increase (decrease) in cash, cash equivalents and restricted cash (49,587) 5,927
Cash, cash equivalents and restricted cash:    
Beginning of period 474,212 470,139
End of period 424,625 476,066
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 424,625 476,066
End of period 424,625 476,066
Homebuilding Segment [Member]    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Inventory impairments (0) 610
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 386,704 416,374
Restricted cash 15,762 8,136
Financial Services Segment [Member]    
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 22,159 51,556
Housing Completed or Under Construction [Member]    
Net changes in assets and liabilities:    
Housing completed or under construction and land under development (178,873) 2,137
Land and Land Under Development [Member]    
Net changes in assets and liabilities:    
Housing completed or under construction and land under development $ 29,051 $ (18,496)