XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities:    
Net income $ 181,614,000 $ 185,421,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Income) loss from unconsolidated joint ventures (4,334,000) (1,412,000)
Depreciation and amortization 27,672,000 27,428,000
Amortization of stock-based compensation 9,216,000 7,512,000
Deferred income tax provision 14,866,000 4,315,000
Other operating activities 3,104,000 97,000
Changes in cash and equivalents due to:    
Mortgage loans held for sale 106,893,000 136,903,000
Inventories - owned (178,314,000) (271,304,000)
Inventories - not owned (34,472,000) (19,254,000)
Other assets (13,043,000) (1,758,000)
Accounts payable (65,397,000) 24,080,000
Accrued liabilities (47,213,000) (28,414,000)
Net cash provided by (used in) operating activities 592,000 63,614,000
Cash Flows From Investing Activities:    
Investments in unconsolidated homebuilding joint ventures (25,002,000) (22,592,000)
Distributions of capital from unconsolidated homebuilding joint ventures 8,045,000 8,115,000
Net cash paid for acquisitions (44,477,000)
Other investing activities (9,793,000) (4,166,000)
Net cash provided by (used in) investing activities (71,227,000) (18,643,000)
Cash Flows From Financing Activities:    
Change in restricted cash (3,711,000) 6,063,000
Borrowings from revolving credit facility 264,450,000 693,700,000
Principal payments on revolving credit facility (264,450,000) (693,700,000)
Principal payments on secured project debt and other notes payable (615,000) (10,169,000)
Principal payment on senior notes payable (230,000,000)
Proceeds from the issuance of senior notes payable 579,125,000 300,000,000
Payment of debt issuance costs (4,595,000) (2,195,000)
Net proceeds from (payments on) mortgage credit facility (97,599,000) (128,908,000)
Repurchases of common stock (150,014,000) (99,829,000)
Common stock dividend payments (9,019,000) (9,527,000)
Issuance of common stock under employee stock plans, net of tax withholdings (5,303,000) 1,069,000
Other financing activities (67,000) (199,000)
Net cash provided by (used in) financing activities 78,202,000 56,305,000
Net increase (decrease) in cash and equivalents 7,567,000 101,276,000
Cash and equivalents at beginning of period 208,127,000 186,594,000
Cash and equivalents at end of period 215,694,000 287,870,000
Cash and Cash Equivalents, at Carrying Value $ 208,127,000 $ 186,594,000