Note 20 - Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Three Months Ended March 31, 2017
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	577,268		$	540,524		$	219,907		$	―		$	1,337,699
Cost of sales		(471,297	)		(431,552	)		(160,006	)		―			(1,062,855	)
Gross margin		105,971			108,972			59,901			―			274,844
Selling, general and administrative expenses		(64,708	)		(73,391	)		(18,177	)		―			(156,276	)
Income (loss) from unconsolidated joint ventures		674			133			3,081			―			3,888
Equity income of subsidiaries		57,597			―			―			(57,597	)		―
Interest income (expense), net		874			(680	)		(194	)		―			―
Other income (expense)		(1,987	)		(28	)		1,846			―			(169	)
Homebuilding pretax income		98,421			35,006			46,457			(57,597	)		122,287
Financial Services:
Financial services pretax income		―			―			7,581			―			7,581
Income before taxes		98,421			35,006			54,038			(57,597	)		129,868
Provision for income taxes		(15,801	)		(16,723	)		(14,724	)		―			(47,248	)
Net income	$	82,620		$	18,283		$	39,314		$	(57,597	)	$	82,620

	Three Months Ended March 31, 2016
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	461,738		$	534,454		$	189,491		$	―		$	1,185,683
Cost of sales		(372,841	)		(430,002	)		(135,652	)		―			(938,495	)
Gross margin		88,897			104,452			53,839			―			247,188
Selling, general and administrative expenses		(55,051	)		(67,846	)		(13,804	)		―			(136,701	)
Income (loss) from unconsolidated joint ventures		689			144			356			―			1,189
Equity income of subsidiaries		54,167			―			―			(54,167	)		―
Interest income (expense), net		1,337			(965	)		(372	)		―			―
Other income (expense)		(3,615	)		189			18			―			(3,408	)
Homebuilding pretax income		86,424			35,974			40,037			(54,167	)		108,268
Financial Services:
Financial services pretax income		―			―			6,936			―			6,936
Income before taxes		86,424			35,974			46,973			(54,167	)		115,204
Provision for income taxes		(13,763	)		(17,474	)		(11,306	)		―			(42,543	)
Net income	$	72,661		$	18,500		$	35,667		$	(54,167	)	$	72,661

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	March 31, 2017
	CalAtlantic Group, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	95,956	$	24,153	$	23,772	$	―		$	143,881
Restricted cash		―		―		30,306		―			30,306
Intercompany receivables		2,077,067		―		378,564		(2,455,631	)		―
Inventories:
Owned		2,885,973		2,320,920		1,349,382		―			6,556,275
Not owned		32,880		26,996		2,896		―			62,772
Investments in unconsolidated joint ventures		4,707		4,798		110,859		―			120,364
Investments in subsidiaries		2,011,015		―		―		(2,011,015	)		―
Deferred income taxes, net		332,392		―		―		(6,643	)		325,749
Goodwill		970,185		―		―		―			970,185
Other assets		168,787		40,902		11,402		―			221,091
Total Homebuilding Assets		8,578,962		2,417,769		1,907,181		(4,473,289	)		8,430,623
Financial Services:
Cash and equivalents		―		―		38,112		―			38,112
Restricted cash		―		―		21,242		―			21,242
Mortgage loans held for sale, net		―		―		157,851		―			157,851
Mortgage loans held for investment, net		―		―		25,744		―			25,744
Other assets		―		―		21,999		(1,801	)		20,198
Total Financial Services Assets		―		―		264,948		(1,801	)		263,147
Total Assets	$	8,578,962	$	2,417,769	$	2,172,129	$	(4,475,090	)	$	8,693,770
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	79,553	$	66,747	$	24,245	$	―		$	170,545
Accrued liabilities and intercompany payables		418,880		1,323,401		981,395		(2,085,511	)		638,165
Revolving credit facility		―		―		―		―			―
Secured project debt and other notes payable		402,652		―		3,309		(378,564	)		27,397
Senior notes payable		3,390,504		―		―		―			3,390,504
Total Homebuilding Liabilities		4,291,589		1,390,148		1,008,949		(2,464,075	)		4,226,611
Financial Services:
Accounts payable and other liabilities		―		―		17,576		―			17,576
Mortgage credit facility		―		―		154,467		―			154,467
Total Financial Services Liabilities		―		―		172,043		―			172,043
Total Liabilities		4,291,589		1,390,148		1,180,992		(2,464,075	)		4,398,654
Equity:
Total Stockholders' Equity		4,287,373		1,027,621		983,394		(2,011,015	)		4,287,373
Noncontrolling interest		―		―		7,743		―			7,743
Total Equity		4,287,373		1,027,621		991,137		(2,011,015	)		4,295,116
Total Liabilities and Equity	$	8,578,962	$	2,417,769	$	2,172,129	$	(4,475,090	)	$	8,693,770

	December 31, 2016
	CalAtlantic Group, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	105,261	$	38,211	$	47,614	$	―		$	191,086
Restricted cash		―		―		28,321		―			28,321
Intercompany receivables		2,045,773		―		334,926		(2,380,699	)		―
Inventories:
Owned		2,825,234		2,277,840		1,335,718		―			6,438,792
Not owned		30,953		32,596		2,718		―			66,267
Investments in unconsolidated joint ventures		4,469		4,923		117,735		―			127,127
Investments in subsidiaries		1,954,418		―		―		(1,954,418	)		―
Deferred income taxes, net		337,021		―		―		(6,643	)		330,378
Goodwill		970,185		―		―		―			970,185
Other assets		165,214		36,725		2,550		―			204,489
Total Homebuilding Assets		8,438,528		2,390,295		1,869,582		(4,341,760	)		8,356,645
Financial Services:
Cash and equivalents		―		―		17,041		―			17,041
Restricted cash		―		―		21,710		―			21,710
Mortgage loans held for sale, net		―		―		262,058		―			262,058
Mortgage loans held for investment, net		―		―		24,924		―			24,924
Other assets		―		―		28,467		(1,801	)		26,666
Total Financial Services Assets		―		―		354,200		(1,801	)		352,399
Total Assets	$	8,438,528	$	2,390,295	$	2,223,782	$	(4,343,561	)	$	8,709,044
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	92,611	$	78,729	$	40,440	$	―		$	211,780
Accrued liabilities and intercompany payables		387,098		1,302,228		964,796		(2,054,217	)		599,905
Secured project debt and other notes payable		359,025		―		3,480		(334,926	)		27,579
Senior notes payable		3,392,208		―		―		―			3,392,208
Total Homebuilding Liabilities		4,230,942		1,380,957		1,008,716		(2,389,143	)		4,231,472
Financial Services:
Accounts payable and other liabilities		―		―		22,559		―			22,559
Mortgage credit facility		―		―		247,427		―			247,427
Total Financial Services Liabilities		―		―		269,986		―			269,986
Total Liabilities		4,230,942		1,380,957		1,278,702		(2,389,143	)		4,501,458
Equity:
Total Equity		4,207,586		1,009,338		945,080		(1,954,418	)		4,207,586
Total Liabilities and Equity	$	8,438,528	$	2,390,295	$	2,223,782	$	(4,343,561	)	$	8,709,044

Supplemental Condensed Consolidating Statements of Cash Flows [Table Text Block]

	Three Months Ended March 31, 2017
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(14,708	)	$	(37,052	)	$	143,518		$	―		$	91,758
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(96	)		(41	)		(18,772	)		―			(18,909	)
Distributions of capital from unconsolidated homebuilding joint ventures		500			350			5,621			―			6,471
Loan to parent and subsidiaries		―			―			(43,664	)		43,664			―
Other investing activities		(531	)		(446	)		(944	)		―			(1,921	)
Net cash provided by (used in) investing activities		(127	)		(137	)		(57,759	)		43,664			(14,359	)
Cash Flows From Financing Activities:
Change in restricted cash		―			―			(1,517	)		―			(1,517	)
Borrowings from revolving credit facility		109,550			―			―			―			109,550
Principal payments on revolving credit facility		(109,550	)		―			―			―			(109,550	)
Principal payments on secured project debt and other notes payable		―			―			(179	)		―			(179	)
Loan from subsidiary		43,664			―			―			(43,664	)		―
Net proceeds from (payments on) mortgage credit facility		―			―			(92,960	)		―			(92,960	)
(Contributions to) distributions from Corporate and subsidiaries		1,000			―			(1,000	)		―			―
Repurchases of common stock		―			―			―			―			―
Common stock dividend payments		(4,584	)		―			―			―			(4,584	)
Issuance of common stock under employee stock plans, net of tax withholdings		(4,167	)		―			―			―			(4,167	)
Other financing activities		(126	)		―			―			―			(126	)
Intercompany advances, net		(30,257	)		23,131			7,126			―			―
Net cash provided by (used in) financing activities		5,530			23,131			(88,530	)		(43,664	)		(103,533	)
Net increase (decrease) in cash and equivalents		(9,305	)		(14,058	)		(2,771	)		―			(26,134	)
Cash and equivalents at beginning of period		105,261			38,211			64,655			―			208,127
Cash and equivalents at end of period	$	95,956		$	24,153		$	61,884		$	―		$	181,993

	Three Months Ended March 31, 2016
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(43,214	)	$	(42,551	)	$	58,143		$	―		$	(27,622	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(135	)		(45	)		(4,011	)		―			(4,191	)
Distributions of capital from unconsolidated homebuilding joint ventures		―			―			99			―			99
Loan to parent and subsidiaries		―			―			71,000			(71,000	)		―
Other investing activities		488			(199	)		853			―			1,142
Net cash provided by (used in) investing activities		353			(244	)		67,941			(71,000	)		(2,950	)
Cash Flows From Financing Activities:
Change in restricted cash		―			―			1,267			―			1,267
Borrowings from revolving credit facility		386,400			―			―			―			386,400
Principal payments on revolving credit facility		(120,400	)		―			―			―			(120,400	)
Principal payments on secured project debt and other notes payable		(1,724	)		―			(57	)		―			(1,781	)
Loan from subsidiary		(71,000	)		―			―			71,000			―
Net proceeds from (payments on) mortgage credit facility		―			―			(138,479	)		―			(138,479	)
(Contributions to) distributions from Corporate and subsidiaries		(700	)		―			700			―			―
Repurchases of common stock		(87,050	)		―			―			―			(87,050	)
Common stock dividend payments		(4,792	)		―			―			―			(4,792	)
Issuance of common stock under employee stock plans, net of tax withholdings		2,055			―			―			―			2,055
Other financing activities		―			(23	)		―			―			(23	)
Intercompany advances, net		20,643			(34,059	)		13,416			―			―
Net cash provided by (used in) financing activities		123,432			(34,082	)		(123,153	)		71,000			37,197
Net increase (decrease) in cash and equivalents		80,571			(76,877	)		2,931			―			6,625
Cash and equivalents at beginning of period		6,387			112,852			67,355			―			186,594
Cash and equivalents at end of period	$	86,958		$	35,975		$	70,286		$	―		$	193,219