0000878560-17-000145.txt : 20171109 0000878560-17-000145.hdr.sgml : 20171109 20171109150558 ACCESSION NUMBER: 0000878560-17-000145 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 84 CONFORMED PERIOD OF REPORT: 20170930 FILED AS OF DATE: 20171109 DATE AS OF CHANGE: 20171109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CalAtlantic Group, Inc. CENTRAL INDEX KEY: 0000878560 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 330475989 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-10959 FILM NUMBER: 171190379 BUSINESS ADDRESS: STREET 1: 15360 BARRANCA PARKWAY CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 9497891600 MAIL ADDRESS: STREET 1: 15360 BARRANCA PARKWAY CITY: IRVINE STATE: CA ZIP: 92618 FORMER COMPANY: FORMER CONFORMED NAME: STANDARD PACIFIC CORP /DE/ DATE OF NAME CHANGE: 19930328 10-Q 1 form10-q.htm FORM 10-Q

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 10-Q
 
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended September 30, 2017
 
OR
 
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from N/A to
 
Commission file number 1-10959
 
CALATLANTIC GROUP, INC.
(Exact name of registrant as specified in its charter)
 
 
Delaware
33-0475989
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
 
1100 Wilson Boulevard, #2100, Arlington, Virginia
(Address of principal executive offices)
 
22209
(Zip Code)
 
(240) 532-3806
(Registrant’s telephone number, including area code)
 
 
N/A
  
  (Former name, former address and former fiscal year, if changed since last report)  
 
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ___.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes X No ___.
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company.  See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer x
Accelerated filer ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)
Smaller reporting company ¨
Emerging growth company ¨
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes ___ No X .
 
Registrant's shares of common stock outstanding at November 8, 2017: 110,334,484
CALATLANTIC GROUP, INC.
FORM 10-Q
INDEX
 
     
Page No.
   
 
PART I. Financial Information  
       
   
ITEM 1.
       
    2
       
    Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2017 and 2016 3
       
   
4
       
   
5
       
   
6
       
    ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 27
       
    ITEM 3.
40
       
    ITEM 4.
41
     
PART II. Other Information
 
       
    ITEM 1.
43
       
   
ITEM 1A.
43
       
    ITEM 2.
44
       
    ITEM 3.
44
       
    ITEM 4.
44
       
    ITEM 5. Other Information 44
       
    ITEM 6. Exhibits 45
       
SIGNATURES  
46
 
 
 
PART I.   FINANCIAL INFORMATION

ITEM 1.    FINANCIAL STATEMENTS

CALATLANTIC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 
     
Three Months Ended
 September 30,
    
Nine Months Ended
 September 30,
  
   
2017
    
2016
    
2017
    
2016
  
     
(Dollars in thousands, except per share amounts)
  
     
(Unaudited)
  
                         
Homebuilding:
                        
Home sale revenues
  
$
1,515,167
    
$
1,665,030
    
$
4,473,480
    
$
4,402,896
  
Land sale revenues
    
676
      
5,928
      
1,176
      
32,107
  
Total revenues
    
1,515,843
      
1,670,958
      
4,474,656
      
4,435,003
  
Cost of home sales
    
(1,212,468
)
    
(1,290,628
)
    
(3,572,572
)
    
(3,440,549
)
Cost of land sales
    
(240
)
    
(5,638
)
    
(247
)
    
(31,217
)
Total cost of sales
    
(1,212,708
)
    
(1,296,266
)
    
(3,572,819
)
    
(3,471,766
)
Gross margin
    
303,135
      
374,692
      
901,837
      
963,237
  
Selling, general and administrative expenses
    
(168,429
)
    
(170,815
)
    
(498,702
)
    
(473,210
)
Income (loss) from unconsolidated joint ventures
    
5,426
      
1,231
      
9,760
      
2,643
  
Other income (expense)
    
(1,238
)
    
(4,169
)
    
(4,082
)
    
(11,992
)
Homebuilding pretax income
    
138,894
      
200,939
      
408,813
      
480,678
  
Financial Services:
                                
Revenues
    
20,161
      
21,433
      
60,394
      
59,524
  
Expenses
    
(12,883
)
    
(11,626
)
    
(36,919
)
    
(34,635
)
Financial services pretax income
    
7,278
      
9,807
      
23,475
      
24,889
  
                                 
Income before taxes
    
146,172
      
210,746
      
432,288
      
505,567
  
Provision for income taxes
    
(52,820
)
    
(78,398
)
    
(157,322
)
    
(187,798
)
Net income
    
93,352
      
132,348
      
274,966
      
317,769
  
  Less: Net income allocated to unvested restricted stock
    
(400
)
    
(294
)
    
(1,104
)
    
(635
)
Net income available to common stockholders
  
$
92,952
    
$
132,054
    
$
273,862
    
$
317,134
  
                                 
Income Per Common Share:
                                
Basic
  
$
0.84
    
$
1.12
    
$
2.43
    
$
2.66
  
Diluted
  
$
0.75
    
$
0.97
    
$
2.14
    
$
2.34
  
                                 
Weighted Average Common Shares Outstanding:
                                
Basic
    
110,205,460
      
118,338,891
      
112,778,362
      
119,188,145
  
Diluted
    
124,449,912
      
136,077,415
      
129,521,479
      
136,888,927
  
                                 
Cash Dividends Declared Per Common Share
  
$
0.04
    
$
0.04
    
$
0.12
    
$
0.12
  





 






The accompanying notes are an integral part of these condensed consolidated statements.
CALATLANTIC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
 
  
Three Months Ended
 September 30,
    
Nine Months Ended
 September 30,
  
 
2017
    
2016
    
2017
    
2016
  
  
(Dollars in thousands)
  
  
(Unaudited)
  
                         
Net income
  
$
93,352
    
$
132,348
    
$
274,966
    
$
317,769
  
Other comprehensive income, net of tax:
                                
Unrealized gain on marketable securities, available for sale
    
―
      
―
      
―
      
39
  
Total comprehensive income
  
$
93,352
    
$
132,348
    
$
274,966
    
$
317,808
  








































The accompanying notes are an integral part of these condensed consolidated statements.
CALATLANTIC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
 
   
September 30,
 2017
    
December 31,
 2016
  
    (Dollars in thousands)  
   
(Unaudited)
        
ASSETS
            
Homebuilding:
            
Cash and equivalents
  
$
83,310
    
$
191,086
  
Restricted cash
    
29,620
      
28,321
  
Inventories:
                
Owned
    
6,946,766
      
6,438,792
  
Not owned
    
91,944
      
66,267
  
Investments in unconsolidated joint ventures
    
130,692
      
127,127
  
Deferred income taxes, net of valuation allowance of $1,925 and $2,456
                
at September 30, 2017 and December 31, 2016, respectively
    
307,251
      
330,378
  
Goodwill
    
985,185
      
970,185
  
Other assets
    
235,135
      
204,489
  
Total Homebuilding Assets
    
8,809,903
      
8,356,645
  
Financial Services:
                
Cash and equivalents
    
46,357
      
17,041
  
Restricted cash
    
21,205
      
21,710
  
Mortgage loans held for sale, net
    
160,068
      
262,058
  
Mortgage loans held for investment, net
    
25,510
      
24,924
  
Other assets
    
15,991
      
26,666
  
Total Financial Services Assets
    
269,131
      
352,399
  
Total Assets
  
$
9,079,034
    
$
8,709,044
  
                 
LIABILITIES AND EQUITY
                
Homebuilding:
                
Accounts payable
  
$
177,752
    
$
211,780
  
Accrued liabilities
    
562,424
      
599,905
  
Revolving credit facility
    
295,600
      
―
  
Secured project debt and other notes payable
    
43,150
      
27,579
  
Senior notes payable
    
3,483,388
      
3,392,208
  
Total Homebuilding Liabilities
    
4,562,314
      
4,231,472
  
Financial Services:
                
Accounts payable and other liabilities
    
20,831
      
22,559
  
Mortgage credit facility
    
152,786
      
247,427
  
Total Financial Services Liabilities
    
173,617
      
269,986
  
Total Liabilities
    
4,735,931
      
4,501,458
  
                 
Equity:
                
Stockholders' Equity:
                
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued
                
and outstanding at September 30, 2017 and December 31, 2016
    
―
      
―
  
Common stock, $0.01 par value; 600,000,000 shares authorized; 110,217,216
                
and 114,429,297 shares issued and outstanding at September 30, 2017 and
               
December 31, 2016, respectively
    
1,102
      
1,144
  
Additional paid-in capital
    
3,064,963
      
3,204,835
  
Accumulated earnings
    
1,263,318
      
1,001,779
  
Accumulated other comprehensive income (loss), net of tax
    
(172
)
    
(172
)
  Total Stockholders' Equity
    
4,329,211
      
4,207,586
  
Noncontrolling Interest
    
13,892
      
―
  
Total Equity
    
4,343,103
      
4,207,586
  
Total Liabilities and Equity
  
$
9,079,034
    
$
8,709,044
  



The accompanying notes are an integral part of these condensed consolidated balance sheets.
CALATLANTIC GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 
      
Nine Months Ended September 30,
  
   
2017
    
2016
  
       (Dollars in thousands)  
   
(Unaudited)
  
Cash Flows From Operating Activities:
      
Net income
  
$
274,966
    
$
317,769
  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
                
(Income) loss from unconsolidated joint ventures
    
(9,760
)
    
(2,643
)
Depreciation and amortization
    
41,818
      
43,193
  
Amortization of stock-based compensation
    
14,282
      
11,216
  
Deferred income tax provision
    
22,972
      
8,118
  
Other operating activities
    
7,062
      
100
  
Changes in cash and equivalents due to:
                
Mortgage loans held for sale
    
101,968
      
154,622
  
Inventories - owned
    
(450,620
)
    
(366,095
)
Inventories - not owned
    
(56,722
)
    
(29,192
)
Other assets
    
(12,206
)
    
7,665
  
Accounts payable
    
(34,028
)
    
13,122
  
Accrued liabilities
    
(23,207
)
    
9,787
  
Net cash provided by (used in) operating activities
    
(123,475
)
    
167,662
  
                 
Cash Flows From Investing Activities:
                
Investments in unconsolidated homebuilding joint ventures
    
(33,212
)
    
(27,000
)
Distributions of capital from unconsolidated homebuilding joint ventures
    
12,770
      
23,727
  
Net cash paid for acquisitions
    
(44,477
)
    
―
  
Other investing activities
    
(11,113
)
    
(5,389
)
Net cash provided by (used in) investing activities
    
(76,032
)
    
(8,662
)
                 
Cash Flows From Financing Activities:
                
Change in restricted cash
    
(794
)
    
7,309
  
Borrowings from revolving credit facility
    
685,550
      
1,008,000
  
Principal payments on revolving credit facility
    
(389,950
)
    
(862,000
)
Principal payments on secured project debt and other notes payable
    
(909
)
    
(10,389
)
Principal payment on senior notes payable
    
(483,000
)
    
(280,000
)
Proceeds from the issuance of senior notes payable
    
579,125
      
300,000
  
Payment of debt issuance costs
    
(5,019
)
    
(2,657
)
Net proceeds from (payments on) mortgage credit facility
    
(94,641
)
    
(141,524
)
Repurchases of common stock
    
(150,014
)
    
(137,464
)
Common stock dividend payments
    
(13,427
)
    
(14,264
)
Issuance of common stock under employee stock plans, net of tax withholdings
    
(5,807
)
    
1,868
  
Other financing activities
    
(67
)
    
(199
)
Net cash provided by (used in) financing activities
    
121,047
      
(131,320
)
                 
Net increase (decrease) in cash and equivalents
    
(78,460
)
    
27,680
  
Cash and equivalents at beginning of period
    
208,127
      
186,594
  
Cash and equivalents at end of period
  
$
129,667
    
$
214,274
  
                 
Cash and equivalents at end of period
  
$
129,667
    
$
214,274
  
Homebuilding restricted cash at end of period
    
29,620
      
29,796
  
Financial services restricted cash at end of period
    
21,205
      
21,799
  
Cash and equivalents and restricted cash at end of period
  
$
180,492
    
$
265,869
  







The accompanying notes are an integral part of these condensed consolidated statements.
CALATLANTIC GROUP, INC. AND SUBSIDIARIES
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2017


1. Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for Form 10-Q and include the accounts of CalAtlantic Group, Inc., its wholly owned subsidiaries, and partnerships in which CalAtlantic Group, Inc. either has a controlling interest or is deemed to be the primary beneficiary of a variable interest entity.  Certain information normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") has been omitted pursuant to applicable rules and regulations.   In the opinion of management, the unaudited condensed consolidated financial statements included herein reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our financial position as of September 30, 2017 and the results of operations and cash flows for the periods presented.
 
The unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10‑K for the year ended December 31, 2016.  Unless the context otherwise requires, the terms "we," "us," "our" and "the Company" refer to CalAtlantic Group, Inc. and its subsidiaries.  The results of operations for interim periods are not necessarily indicative of results to be expected for the full year.
 
2.    Recent Accounting Pronouncements
 
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), which supersedes existing accounting literature relating to how and when a company recognizes revenue.  Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services.  In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606):  Deferral of the Effective Date, which delayed the effective date of ASU 2014-09 by one year.  As a result, for public companies, ASU 2014-09 will be effective for annual reporting periods and interim periods within those annual periods beginning after December 15, 2017, and is to be applied either with a full retrospective or modified retrospective approach.  We expect to adopt the new standard under the modified retrospective approach.  Although we are still in the process of evaluating our contracts, we do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. We are continuing to evaluate the impact the adoption of ASU 2014-09 may have on other aspects of our business and on our consolidated financial statements and disclosures.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"), which modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for a new practicality exception.  A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value under Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements, and as such these investments may be measured at cost.  ASU 2016-01 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017.  We are currently evaluating the impact adoption will have on our consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-02, Leases ("ASU 2016-02"), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or 
 
operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification.  The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease.  ASU 2016-02 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2018.  We are currently evaluating the impact adoption will have on our consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting ("ASU 2016-07"), which eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment.  Our adoption of ASU 2016-07 on January 1, 2017 did not have an effect on our consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows.  In connection with our adoption of ASU 2016-09 on January 1, 2017, the Company elected to apply the provisions of ASU 2016-09 related to the income statement and statement of cash flows impact of income taxes on a prospective basis, and as such, prior periods have not been adjusted.  The Company made a policy election to continue to estimate forfeitures at the grant date of an award.  The remaining updates required in connection with our adoption of ASU 2016-09 did not have a material effect on our consolidated financial statements.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"), which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows.  ASU 2016-15 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017.  We do not believe that the adoption of ASU 2016-15 will have a material effect on our consolidated financial statements.

In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash ("ASU 2016-18"), which provides guidance on the classification of restricted cash in the statement of cash flows. ASU 2016-18 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017.  We determined that upon adoption of this new standard, the Company will no longer present the changes within restricted cash in the consolidated statements of cash flows.

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business ("ASU 2017-01"), which clarifies the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2017.  Once adopted, the Company will be required to analyze any future acquisitions to determine whether the transaction qualifies as a purchase of a business or an asset.  Transaction costs associated with asset acquisitions will be capitalized, while transaction costs associated with a business combination will continue to be expensed as incurred.  In addition, asset acquisitions will not be subject to a measurement period, as are business combinations.  The adoption of ASU 2017-01 may have a future impact on our consolidated financial statements.
In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment ("ASU 2017-04"), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2019, and early adoption is permitted.  We elected to early adopt ASU 2017-04 for the reporting period beginning January 1, 2017.  Our adoption of ASU 2017-04 did not have a material effect on our consolidated financial statements.
 
3.       Segment Reporting
 
We operate two principal businesses: homebuilding and financial services.
 
Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes.  In accordance with ASC Topic 280, Segment Reporting ("ASC 280"), we have determined that each of our four homebuilding regions and financial services operations (consisting of our mortgage financing and title operations) are our operating segments.  Our four homebuilding reportable segments include:  North, consisting of our divisions in Georgia, Delaware, Illinois, Indiana, Maryland, Minnesota, New Jersey, Pennsylvania, Virginia and Washington D.C.; Southeast, consisting of our divisions in Florida and the Carolinas; Southwest, consisting of our divisions in Texas, Colorado, Nevada and Utah; and West, consisting of our divisions in California, Arizona and Washington.
 
Our mortgage financing operation, CalAtlantic Mortgage, provides mortgage financing to many of our homebuyers in substantially all of the markets in which we operate, and sells substantially all of the loans it originates in the secondary mortgage market.  Our title, escrow and insurance subsidiaries provide title, escrow and insurance services to homebuyers in many of our markets.  Our mortgage financing, title, escrow and insurance services operations are included in our financial services reportable segment, which is separately reported in our condensed consolidated financial statements under "Financial Services."
 
Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance and treasury, information technology, insurance and risk management, litigation, marketing and human resources.  Corporate also provides the necessary administrative functions to support us as a publicly traded company.  All of the expenses incurred by Corporate are allocated to each of our four homebuilding regions based on their respective percentage of revenues.


Segment financial information relating to the Company's homebuilding operations was as follows:
 
    
Three Months Ended
 September 30,
    
Nine Months Ended
 September 30,
  
   
2017
    
2016
    
2017
    
2016
  
    
(Dollars in thousands)
  
Homebuilding revenues:
                        
North
  
$
282,591
    
$
283,060
    
$
848,438
    
$
710,889
  
Southeast
    
427,244
      
400,720
      
1,207,616
      
1,065,038
  
Southwest
    
356,952
      
389,160
      
1,099,803
      
1,165,797
  
 West
    
449,056
      
598,018
      
1,318,799
      
1,493,279
  
     Total homebuilding revenues
  
$
1,515,843
    
$
1,670,958
    
$
4,474,656
    
$
4,435,003
  
                                 
Homebuilding pretax income (1):
                                
North
  
$
25,895
    
$
25,627
    
$
74,492
    
$
53,177
  
Southeast
    
30,094
      
31,303
      
85,695
      
84,125
  
Southwest
    
31,648
      
39,312
      
100,757
      
113,145
  
 West
    
51,257
      
104,697
      
147,869
      
230,231
  
     Total homebuilding pretax income
  
$
138,894
    
$
200,939
    
$
408,813
    
$
480,678
  
                                 
Homebuilding income (loss) from unconsolidated joint ventures:
                                
North
  
$
78
    
$
113
    
$
525
    
$
486
  
Southeast
    
―
      
―
      
―
      
437
  
Southwest
    
252
      
44
      
515
      
869
  
 West
    
5,096
      
1,074
      
8,720
      
851
  
     Total homebuilding income (loss) from unconsolidated joint ventures
  
$
5,426
    
$
1,231
    
$
9,760
    
$
2,643
  
__________________
(1)
Homebuilding pretax income includes depreciation and amortization expense of $2.0 million, $4.5 million, $2.3 million and $5.3 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2017 and $1.7 million, $4.2 million, $2.8 million and $7.1 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2016.  Homebuilding pretax income includes depreciation and amortization expense of $5.6 million, $12.2 million, $7.8 million and $16.1 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2017 and $4.5 million, $11.2 million, $8.6 million and $18.9 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2016.

Segment financial information relating to the Company's homebuilding assets was as follows:
 
    
September 30,
    
December 31,
  
   
2017
    
2016
  
    
(Dollars in thousands)
  
Homebuilding assets:
            
North
  
$
1,347,835
    
$
1,181,544
  
Southeast
    
2,375,363
      
2,253,289
  
Southwest
    
1,895,329
      
1,842,869
  
 West
    
2,706,155
      
2,500,163
  
Corporate
    
485,221
      
578,780
  
     Total homebuilding assets
  
$
8,809,903
    
$
8,356,645
  
                 
Homebuilding investments in unconsolidated joint ventures:
                
North
  
$
5,829
    
$
5,691
  
Southeast
    
162
      
334
  
Southwest
    
4,855
      
6,085
  
 West
    
119,846
      
115,017
  
     Total homebuilding investments in unconsolidated joint ventures
  
$
130,692
    
$
127,127
  


4. Earnings Per Common Share

We compute earnings per share in accordance with ASC Topic 260, Earnings per Share ("ASC 260"), which requires earnings per share for each class of stock to be calculated using the two-class method.  The two-class method is an allocation of earnings between the holders of common stock and a company's participating security holders.  Under the two-class method, earnings for the reporting period are allocated between common shareholders and other security holders based on their respective participation rights in undistributed earnings.  Unvested share-based payment awards that contain non-forfeitable rights to
 
dividends or dividend equivalents are participating securities and, therefore, are included in computing earnings per share pursuant to the two-class method.

Basic earnings per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of basic common stock outstanding.  Our unvested restricted stock is classified as a participating security in accordance with ASC 260.  Net income allocated to the holders of our unvested restricted stock is calculated based on the shareholders' proportionate share of weighted average shares of common stock outstanding on an if-converted basis.

For purposes of determining diluted earnings per common share, basic earnings per common share is further adjusted to include the effect of potential dilutive common shares outstanding, including stock options, stock appreciation rights, performance share awards and unvested restricted stock using the more dilutive of either the two-class method or the treasury stock method, and convertible debt using the if-converted method.  Under the two-class method of calculating diluted earnings per share, net income is reallocated to common stock, unvested restricted stock and all dilutive securities based on the contractual participating rights of the security to share in the current earnings as if all of the earnings for the period had been distributed.
 
     
Three Months Ended
 September 30,
    
Nine Months Ended
 September 30,
  
   
2017
    
2016
    
2017
    
2016
  
     
(Dollars in thousands, except per share amounts)
  
                         
Numerator:
                        
Net income
  
$
93,352
    
$
132,348
    
$
274,966
    
$
317,769
  
Less: Net income allocated to unvested restricted stock
    
(400
)
    
(294
)
    
(1,104
)
    
(635
)
Net income available to common stockholders for basic
                                
earnings per common share
    
92,952
      
132,054
      
273,862
      
317,134
  
Effect of dilutive securities:
                                
Interest on 1.625% convertible senior notes due 2018
    
94
      
91
      
1,123
      
1,088
  
Interest on 0.25% convertible senior notes due 2019
    
85
      
82
      
1,016
      
984
  
Interest on 1.25% convertible senior notes due 2032
    
48
      
62
      
752
      
744
  
Net income available to common stock for diluted
                                
earnings per share
  
$
93,179
    
$
132,289
    
$
276,753
    
$
319,950
  
                                 
Denominator:
                                
Weighted average basic common shares outstanding
    
110,205,460
      
118,338,891
      
112,778,362
      
119,188,145
  
Effect of dilutive securities:
                                
Share-based awards
    
875,214
      
643,602
      
881,500
      
605,860
  
1.625% convertible senior notes due 2018
    
7,174,013
      
7,165,845
      
7,174,013
      
7,165,845
  
0.25% convertible senior notes due 2019
    
3,642,200
      
3,638,080
      
3,642,200
      
3,638,080
  
1.25% convertible senior notes due 2032
    
2,553,025
      
6,290,997
      
5,045,404
      
6,290,997
  
Weighted average diluted shares outstanding
    
124,449,912
      
136,077,415
      
129,521,479
      
136,888,927
  
                                 
Income per common share:
                                
Basic
  
$
0.84
    
$
1.12
    
$
2.43
    
$
2.66
  
Diluted
  
$
0.75
    
$
0.97
    
$
2.14
    
$
2.34
  


5. Stock-Based Compensation

We account for share-based awards in accordance with ASC Topic 718, Compensation – Stock Compensation ("ASC 718"), which requires that the cost resulting from all share-based payment transactions be recognized in the financial statements.  ASC 718 requires all entities to apply a fair value-based measurement method in accounting for share-based payment transactions with employees except for equity instruments held by employee share ownership plans.

Total compensation expense recognized related to stock-based compensation was $5.1 million and $3.7 million for the three months ended September 30, 2017 and 2016, respectively.  For the nine months ended September 30, 2017 and 2016, we recognized stock-based compensation expense of $14.3 million and $11.2 million, respectively.  As of September 30, 2017, total unrecognized stock-based compensation
 
expense was $31.3 million, with a weighted average period over which the remaining unrecognized compensation expense is expected to be recorded of approximately 2.2 years.

6. Cash and Equivalents and Restricted Cash

Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of three months or less from the date of purchase.  At September 30, 2017, cash and equivalents included $80.8 million of cash from home closings held in escrow for our benefit, typically for less than five days, which are considered deposits in-transit.

At September 30, 2017, homebuilding restricted cash represented $29.6 million of cash held in cash collateral accounts primarily related to certain letters of credit that have been issued.  Financial services restricted cash as of September 30, 2017 consisted of $17.7 million held in cash collateral accounts primarily related to certain letters of credit that have been issued, $3.0 million related to our financial services subsidiary mortgage credit facility and $0.5 million related to funds held in trust for third parties.

7. Marketable Securities, Available-for-sale

The Company's investment portfolio includes mainly municipal debt securities and metropolitan district bond securities, which are included in homebuilding other assets in the accompanying condensed consolidated balance sheets.  As defined in ASC Topic 320, Investments—Debt and Equity Securities ("ASC 320"), the Company considers its investment portfolio to be available-for-sale.  Accordingly, these investments are recorded at their fair values.  The cost of securities sold is based on an average-cost basis.  Unrealized gains and losses on these investments are included in accumulated other comprehensive income (loss), net of tax, within stockholders' equity.  At September 30, 2017, accumulated other comprehensive income (loss) included unrealized losses of $172,000 on available-for-sale marketable securities.  Realized earnings associated with the Company's available-for-sale marketable securities, which included interest and dividends totaled $173,000 for the nine months ended September 30, 2017, and were included in homebuilding other income (expense) in the accompanying condensed consolidated statements of operations.

The Company periodically reviews its available-for-sale securities for other-than-temporary declines in fair values that are below their cost bases, as well as whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  At September 30, 2017, the Company believes that the cost bases for its available-for-sale securities were recoverable in all material respects.

The following table displays the fair values of marketable securities, available-for-sale, by type of security:
         
   
  
September 30, 2017
  
December 31, 2016
   
  
Amortized
Cost
  
Gross Unrealized Losses
  
Estimated
Fair Value
  
Amortized
Cost
  
Gross Unrealized Losses
  
Estimated
Fair Value
   
  
(Dollars in thousands)
Type of security:
  
                      
 
Municipal bond and metropolitan district securities
  
 $               24,994
 
 $                  (465)
  
 $            24,529
 
 $               18,563
 
 $                 (465)
  
 $            18,098

The following table displays the fair values of marketable securities, available-for-sale, by contractual maturity:
 
   
  
September 30, 2017
   
  
(Dollars in thousands)
Contractual maturity:
  
    
 
Maturing in one year or less
  
$
   ―  
 
Maturing after three years
  
  
 24,529
 
Total marketable securities, available-for-sale
  
$
 24,529

8. Inventories
 
a.  Inventories Owned
 
Inventories owned consisted of the following at:
 
   
September 30, 2017
  
   
North
    
Southeast
    
Southwest
    
West
    
Total
  
   
(Dollars in thousands)
  
                               
Land and land under development (1)
  
$
136,182
    
$
993,953
    
$
420,686
    
$
1,335,910
    
$
2,886,731
  
Homes completed and under construction
    
790,486
      
928,157
      
966,286
      
939,488
      
3,624,417
  
Model homes
    
57,518
      
112,197
      
102,969
      
162,934
      
435,618
  
   Total inventories owned
  
$
984,186
    
$
2,034,307
    
$
1,489,941
    
$
2,438,332
    
$
6,946,766
  
                                         
   
December 31, 2016
  
   
North
    
Southeast
    
Southwest
    
West
    
Total
  
   
(Dollars in thousands)
  
                                         
Land and land under development (1)
  
$
445,245
    
$
1,177,646
    
$
594,585
    
$
1,410,264
    
$
3,627,740
  
Homes completed and under construction
    
327,421
      
585,938
      
710,509
      
680,241
      
2,304,109
  
Model homes
    
79,306
      
132,968
      
116,575
      
178,094
      
506,943
  
   Total inventories owned
  
$
851,972
    
$
1,896,552
    
$
1,421,669
    
$
2,268,599
    
$
6,438,792
  
__________________
(1)
During the nine months ended September 30, 2017, we purchased $732.4 million of land (10,694 homesites), of which 27% (based on homesites) were located in the North, 34% in the Southeast, 18% in the Southwest, and 21% in the West. During the year ended December 31, 2016, we purchased $960.8 million of land (13,566 homesites), of which 25% (based on homesites) were located in the North, 25% in the Southeast, 24% in the Southwest, and 26% in the West. 


In accordance with ASC Topic 360, Property, Plant, and Equipment ("ASC 360"), we record impairment losses on inventories when events and circumstances indicate that they may be impaired, and the future undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts.  We perform a detailed budget and cash flow review of all of our real estate communities (including actively selling communities, future communities and communities on hold/inactive) on a semi-annual basis throughout each fiscal year to, among other things, determine whether the community's estimated remaining undiscounted future cash flows are more or less than the carrying value of the inventory balance.  Inventories that are determined to be impaired are written down to their estimated fair value.  We calculate the fair value of a community under a land residual value analysis and in certain cases in conjunction with a discounted cash flow analysis.  As of September 30, 2017 and 2016, the total active and future communities that we owned were 901 and 879, respectively.  During the nine months ended September 30, 2017 and 2016, we reviewed all communities for indicators of impairment and based on our review we did not record any inventory impairments during these periods.

During the 2017 second quarter, we acquired the homebuilding operations (representing approximately 19 current and future communities) from a Seattle-based developer and homebuilder for total consideration of $44.5 million, which we accounted for as a business combination in accordance with ASC Topic 805, Business Combinations.  As a result of this transaction, we recorded approximately $25.7 million of inventories owned, $3.9 million of inventories not owned, $15.0 million of goodwill and $0.1 million of other accrued liabilities and other debt.  As of September 30, 2017, these amounts are subject to change as we have not yet finalized the purchase price allocation of the real estate assets acquired in this transaction.
 
b.   Inventories Not Owned
 
Inventories not owned as of September 30, 2017 and December 31, 2016 consisted of land purchase and lot option deposits outstanding at the end of each period, and purchase price allocated to lot option contracts assumed in connection with business acquisitions. Under ASC Topic 810, Consolidation ("ASC 810"), a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity's expected losses if they occur.  Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property.  In some instances, we may also expend funds for due diligence, development and construction activities with
 
respect to optioned land prior to takedown.  Such costs are classified as inventories owned, which we would have to write-off should we not exercise the option.  Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a variable interest entity ("VIE") may have been created.  In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.

9. Capitalization of Interest

We follow the practice of capitalizing interest to inventories owned during the period of development and to investments in unconsolidated homebuilding and land development joint ventures in accordance with ASC Topic 835, Interest ("ASC 835").  Homebuilding interest capitalized as a cost of inventories owned is included in cost of sales as related units or lots are sold.  Interest capitalized to investments in unconsolidated homebuilding and land development joint ventures is included as a reduction of income from unconsolidated joint ventures when the related homes or lots are sold to third parties.  Interest capitalized to investments in unconsolidated land development joint ventures is transferred to inventories owned if the underlying lots are purchased by us.  To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us.  Qualified assets represent communities that are actively selling or under development as well as investments in homebuilding and land development unconsolidated joint ventures.  During the nine months ended September 30, 2017 and 2016, our qualified assets exceeded our debt, and as a result, all of our homebuilding interest incurred during these periods was capitalized in accordance with ASC 835.

The following is a summary of homebuilding interest capitalized to inventories owned and investments in unconsolidated joint ventures, amortized to cost of sales and income (loss) from unconsolidated joint ventures and expensed as interest expense, for the three and nine months ended September 30, 2017 and 2016:
 
   
Three Months Ended
September 30,
    
Nine Months Ended
 September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands)
  
                         
Total interest incurred (1)
 
$
52,972
    
$
56,872
    
$
156,845
    
$
175,207
  
Less: Interest capitalized to inventories owned (1)
    
(52,158
)
    
(55,761
)
    
(154,371
)
    
(172,170
)
Less: Interest capitalized to investments in unconsolidated joint ventures
    
(814
)
    
(1,111
)
    
(2,474
)
    
(3,037
)
Interest expense
 
$
―
    
$
―
    
$
―
    
$
―
  
                                 
Interest previously capitalized to inventories owned, included in cost of home sales
  
$
48,912
    
$
44,636
    
$
140,687
    
$
115,367
  
Interest previously capitalized to inventories owned, included in cost of land sales
  
$
―
    
$
115
    
$
―
    
$
1,596
  
Interest previously capitalized to investments in unconsolidated joint ventures,
                                
included in income (loss) from unconsolidated joint ventures
  
$
5
    
$
613
    
$
13
    
$
613
  
Interest capitalized in ending inventories owned (2)
  
$
379,884
    
$
362,807
    
$
379,884
    
$
362,807
  
Interest capitalized as a percentage of inventories owned
    
5.5
%
    
5.6
%
    
5.5
%
    
5.6
%
Interest capitalized in ending investments in unconsolidated joint ventures (2)
  
$
5,324
    
$
3,224
    
$
5,324
    
$
3,224
  
Interest capitalized as a percentage of investments in unconsolidated joint ventures
    
4.1
%
    
2.3
%
    
4.1
%
    
2.3
%
__________________
(1)
Total interest incurred and interest capitalized to inventories owned during the nine months ended September 30, 2016 includes a $9 million increase related to the valuation of the 1.625% convertible senior notes that was completed during the 2016 first quarter. 
(2)
During the three and nine months ended September 30, 2017, in connection with lot purchases from our joint ventures, $0 and $0.5 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.

10.     Investments in Unconsolidated Land Development and Homebuilding Joint Ventures

Income (loss) from unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations represents our share of the income (loss) of our unconsolidated land development and homebuilding joint ventures, which is allocated based on the provisions of the underlying joint venture operating agreements less any additional impairments, if any, recorded against our investments in joint ventures which we do not deem recoverable.  In addition, we defer recognition of our share of income that relates to lots purchased by us from land development joint ventures until we
 
ultimately sell the homes to be constructed to third parties, at which time we account for these earnings as a reduction of the cost basis of the lots purchased from these joint ventures.

During each of the nine months ended September 30, 2017 and 2016, all of our investments in unconsolidated joint ventures were reviewed for impairment.  Based on the impairment review, no joint venture communities were determined to be impaired for the nine months ended September 30, 2017, and we recorded a $1.0 million impairment charge during the three and nine months ended September 30, 2016, related to one joint venture in the West.

Our investments in unconsolidated joint ventures may represent a variable interest in a VIE depending on, among other things, the economic interests of the members of the entity and the contractual terms of the arrangement.  We analyze all of our unconsolidated joint ventures under the provisions of ASC 810 to determine whether these entities are deemed to be VIEs, and if so, whether we are the primary beneficiary.  As of September 30, 2017, with the exception of two homebuilding joint ventures that we consolidated during 2017 in accordance with ASC 810, all of our homebuilding and land development joint ventures with unrelated parties were determined under the provisions of ASC 810 to be unconsolidated joint ventures either because they were not deemed to be VIEs and we did not have a controlling interest, or, if they were a VIE, we were not deemed to be the primary beneficiary.  Based on our assessment of each consolidated joint venture's operating agreement in accordance with ASC 810, we determined that two joint ventures were either (1) a consolidated VIE where CalAtlantic Group, Inc. is the primary beneficiary that has both (i) the power to direct the activities of the entity that most significantly impact the entity's economic performance and (ii) the obligation to absorb the expected losses of the entity and right to receive benefits from the entity that could be potentially significant to the joint venture or (2) a consolidated joint venture in which CalAtlantic Group, Inc. has a controlling financial interest.  As a result of consolidating these two entities, we have $13.9 million of noncontrolling interest reflected in the accompanying condensed consolidated balance sheets as of September 30, 2017.
 
11.     Warranty Costs

Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized.  Amounts accrued are based upon historical experience.  Indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred.  We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary.  Our warranty accrual is included in accrued liabilities in the accompanying condensed consolidated balance sheets.
 
Changes in our warranty accrual are detailed in the table set forth below:
 
 
Nine Months Ended September 30,
  
 
2017
  
2016
  
 
(Dollars in thousands)
  
         
Warranty accrual, beginning of the period
$
43,932
  
$
40,691
  
Warranty costs accrued during the period
  
16,097
    
16,903
  
Warranty costs paid during the period
  
(18,303
)
  
(15,088
)
Warranty accrual, end of the period
$
41,726
  
$
42,506
  
 
 
12.     Revolving Credit Facility and Letter of Credit Facilities
  
As of September 30, 2017, we were party to a $750 million unsecured revolving credit facility, $350 million of which is available for letters of credit, which matures in October 2019.  The facility has an accordion feature under which the Company may increase the total commitment up to a maximum aggregate amount of $1.2 billion, subject to certain conditions, including the availability of additional bank commitments.  Interest rates, as defined in the credit agreement, approximate (i) LIBOR (approximately 1.24% at September 30, 2017) plus 1.75%, or (ii) Prime (4.25% at September 30, 2017) plus 0.75%.

In addition to customary representations and warranties, the facility contains financial and other covenants, including a minimum tangible net worth requirement of $1.65 billion (which amount is subject to increase over time based on subsequent earnings and proceeds from equity offerings), a net homebuilding leverage covenant that prohibits the leverage ratio (as defined therein) from exceeding 2.00 to 1.00 and a land covenant that limits land not under development to an amount not to exceed tangible net worth. The Company is also required to maintain either (a) a minimum liquidity level (unrestricted cash in excess of interest incurred for the previous four quarters) or (b) a minimum interest coverage ratio (EBITDA to interest expense, as defined therein) of at least 1.25 to 1.00.  We were in compliance with all of the revolving facility covenants as of September 30, 2017. The revolving facility also limits, among other things, the Company's investments in joint ventures and the amount of the Company's common stock that the Company can repurchase.On September 30, 2017, we had $295.6 million outstanding under the facility and the Company had outstanding letters of credit issued under the facility totaling $119.2 million, leaving $335.2 million available under the facility to be drawn.
 
As of September 30, 2017, in addition to our $350 million letter of credit sublimit under our revolving facility, we were party to four committed homebuilding letter of credit facilities totaling $48.0 million, of which $22.4 million was outstanding.  These facilities require cash collateralization and have maturity dates ranging from October 2018 to August 2020.  As of September 30, 2017, these facilities were secured by cash collateral deposits of $22.8 million.  Upon maturity, we may renew or enter into new letter of credit facilities with the same or other financial institutions.

13.     Secured Project Debt and Other Notes Payable

Our secured project debt and other notes payable consist of seller non-recourse financing and community development district and similar assessment district bond financings used to finance land acquisition, development and infrastructure costs for which we are responsible.  At September 30, 2017, we had approximately $43.2 million outstanding in secured project debt and other notes payable.  

14.     Senior Notes Payable

Senior notes payable consisted of the following at:
 
   
September 30,
   
December 31,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
             
8.4% Senior Notes due May 2017
  
$
―
    
$
235,175
  
8.375% Senior Notes due May 2018
    
574,784
      
574,501
  
1.625% Convertible Senior Notes due May 2018
    
222,757
      
220,236
  
0.25% Convertible Senior notes due June 2019
    
258,035
      
253,777
  
6.625% Senior Notes due May 2020
    
315,430
      
319,909
  
8.375% Senior Notes due January 2021
    
396,087
      
395,246
  
6.25% Senior Notes due December 2021
    
297,980
      
297,623
  
5.375% Senior Notes due October 2022
    
249,331
      
249,230
  
5.875% Senior Notes due November 2024
    
426,558
      
296,982
  
5.25% Senior Notes due June 2026
    
395,323
      
297,483
  
5.00% Senior Notes due June 2027
    
347,103
      
―
  
1.25% Convertible Senior Notes due August 2032
    
―
      
252,046
  
   
$
3,483,388
    
$
3,392,208
  


The carrying amount of our senior notes listed above are net of debt issuance costs and any discounts and premiums that are amortized to interest costs over the respective terms of the notes.
 
The Company's 1.625% Convertible Senior Notes due 2018 are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The 1.625% Convertible Notes bear interest at a rate of 1.625% per year and will mature on May 15, 2018, unless earlier converted or repurchased. The holders may convert their 1.625% Convertible Notes at any time into shares of the Company's common stock at a conversion rate of 31.8845 shares of common stock per $1,000 of their principal amount (which is equal to a conversion price of approximately $31.36 per
 
share), subject to adjustment. The Company may not redeem the 1.625% Convertible Notes prior to the stated maturity date.
 
The Company's 0.25% Convertible Senior Notes due 2019 are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The 0.25% Convertible Notes bear interest at a rate of 0.25% per year and will mature on June 1, 2019, unless earlier converted, redeemed or repurchased. The holders may convert their 0.25% Convertible Notes at any time into shares of the Company's common stock at a conversion rate of 13.6157 shares of common stock per $1,000 of their principal amount (which is equal to a conversion price of approximately $73.44 per share), subject to adjustment. The Company may not redeem the 0.25% Convertible Notes prior to June 6, 2017. On or after that date, the Company may redeem for cash any or all of the 0.25% Convertible Notes, at its option, if the closing sale price of its common stock for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending within 5 trading days immediately preceding the date on which it provides notice of redemption, including the last trading day of such 30 day trading period, exceeds 130 percent of the applicable conversion price on each applicable trading day. The redemption price will equal 100 percent of the principal amount of the 0.25% Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

Our senior notes payable are all senior obligations and rank equally with our other existing senior indebtedness and, with the exception of our Convertible Notes, are redeemable at our option, in whole or in part, pursuant to a "make whole" formula.  These notes contain various restrictive covenants, including, but not limited to, a limitation on secured indebtedness and a restriction on sale leaseback transactions.  As of September 30, 2017, we were in compliance with the covenants required by our senior notes.

Many of our 100% owned direct and indirect subsidiaries (collectively, the "Guarantor Subsidiaries") guarantee our outstanding senior notes.  The guarantees are full and unconditional, and joint and several.  Under our most restrictive indenture, a Guarantor Subsidiary will be released and relieved of any obligations under the applicable note guarantee in the event that i) such Guarantor Subsidiary ceases to be a restricted subsidiary in the homebuilding segment or ii) in the event of a sale or other disposition of such Guarantor Subsidiary, in compliance with the indenture, and such Guarantor Subsidiary ceases to guaranty any other debt of the Company.  Please see Note 21 for supplemental financial statement information about our guarantor subsidiaries group and non-guarantor subsidiaries group.
 
In April 2017, the Company issued $225 million in aggregate principal amount of senior notes, consisting of $125 million aggregate principal amount of additional notes to the Company's existing 5.875% Senior Notes due 2024 and $100 million aggregate principal amount of additional notes to the Company's existing 5.25% Senior Notes due 2026, each of which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis.  A portion of the net proceeds of this issuance were used to repay the remaining $230 million principal balance of our 8.4% Senior Notes upon maturity in May 2017.
 
During June 2017, the Company issued $350 million in aggregate principal amount of 5.00% Senior Notes due 2027, which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis.  A portion of the net proceeds of this issuance were used to repurchase and repay the aggregate principal balance of our 1.25% Convertible Senior Notes due August 2032.
 
During August 2017, the Company redeemed for cash, at a redemption price equal to 100% of the principal amount, all of the remaining $253 million of our 1.25% Convertible Senior Notes which were scheduled to mature on August 1, 2032.

15.     Mortgage Credit Facility

At September 30, 2017, we had $152.8 million outstanding under our mortgage financing subsidiary's mortgage credit facility.  This mortgage credit facility consisted of a $300 million uncommitted repurchase facility, maturing in June 2018. This facility requires our mortgage financing subsidiary to maintain cash collateral accounts, which totaled $3.0 million as of September 30, 2017, and also contains financial covenants which require CalAtlantic Mortgage to, among other things, maintain a minimum level of tangible net worth, not to exceed a debt to tangible net worth ratio, maintain a minimum liquidity amount based on a measure of total assets (inclusive of the cash collateral requirement), and satisfy pretax income (loss) requirements.  As of September 30, 2017, CalAtlantic Mortgage was in compliance with the financial and other covenants contained in this facility.
16.     Disclosures about Fair Value

ASC Topic 820, Fair Value Measurements and Disclosures ("ASC 820"), establishes a framework for measuring fair value, expands disclosures regarding fair value measurements and defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Further, ASC 820 requires us to maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. The three levels of the hierarchy are as follows:

•    Level 1 – quoted prices for identical assets or liabilities in active markets;

•    Level 2 – quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and

•    Level 3 – valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Financial instruments measured at fair value on a recurring basis:
 
       
Fair Value at
 
  
Fair Value Hierarchy
  
September 30,
 2017
  
December 31,
 2016
        (Dollars in thousands)
 
  
              
Marketable securities, available-for-sale
                
     Municipal debt securities
  
Level 2
  
$
 9,387
 
$
 9,387
     Metropolitan district bond securities
  
Level 3
  
$
 15,142
 
$
 8,711
Mortgage loans held for sale
  
Level 2
  
$
 163,352
 
$
 265,542

 
Marketable Securities, Available-for-sale

Marketable securities that are available-for-sale are comprised mainly of municipal debt securities and metropolitan district bond securities.  The Company's municipal debt securities are valued based on quoted market prices of similar instruments, which uses Level 2 inputs, and the metropolitan district bond securities are based on a discounted future cash flow model, which uses Level 3 inputs.  The primary unobservable inputs used in our discounted cash flow model are (1) the forecasted number of homes to be closed, as homes drive increases to the taxpaying base for the metropolitan district, (2) the forecasted assessed value of those closed homes and (3) the discount rate.

Mortgage loans held for sale

Mortgage loans held for sale consist of FHA, VA, USDA and agency first mortgages on single-family residences which are eligible for sale to FNMA/FHLMC, GNMA or other investors, as applicable.  Fair values of these loans are based on quoted prices from third party investors when preselling loans.

Financial instruments for which we have not elected the fair value option in accordance with ASC 825:
 
         
September 30, 2017
  
December 31, 2016
Description
  
Fair Value Hierarchy
  
 
Carrying
 Amount
  
 
Fair Value
  
 
Carrying
 Amount
  
 
Fair Value
          (Dollars in thousands)
   
  
                          
Financial services assets:
  
                          
 
Mortgage loans held for investment, net
  
Level 2
  
$
 25,510
 
$
 25,510
 
$
 24,924
 
$
 24,924
Homebuilding liabilities:
  
                          
 
Senior and convertible senior notes payable, net
  
Level 2
  
$
 3,483,388
 
$
 3,753,098
 
$
 3,392,208
 
$
 3,617,838


Mortgage Loans Held for Investment – Fair value of these loans is based on the estimated market value of the underlying collateral based on market data and other factors for similar type properties as further adjusted to reflect the estimated net realizable value of carrying the loans through disposition.

Senior and Convertible Senior Notes Payable – The senior notes are traded over the counter and their fair values were estimated based upon the values of their last trade at the end of the period.

The fair value of our cash and equivalents, restricted cash, accounts payable and accrued liabilities, secured project debt and other notes payable, revolving credit facility, and mortgage credit facility approximate their carrying amounts due to the short-term nature and/or variable interest rate attribute of these assets and liabilities.

17.     Commitments and Contingencies
 
a.  Land Purchase and Option Agreements
 
We are subject to obligations associated with entering into contracts for the purchase of land and improved homesites. These purchase contracts typically require us to provide a cash deposit or deliver a letter of credit in favor of the seller, and our purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements.  We also utilize option contracts with land sellers as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the near-term use of funds from our corporate financing sources.  Option contracts generally require a non-refundable deposit for the right to acquire lots over a specified period of time at predetermined prices.  We generally have the right at our discretion to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit or by repaying amounts drawn under a letter of credit provided by us with no further financial responsibility to the land seller, although in certain instances, the land seller has the right to compel us to purchase a specified number of lots at predetermined prices.

In some instances, we may also expend funds for due diligence, development and construction activities with respect to our land purchase and option contracts prior to purchase, which we would have to write off should we not purchase the land.  At September 30, 2017, we had non-refundable cash deposits outstanding of approximately $80.3 million and capitalized pre-acquisition and other development and construction costs of approximately $31.3 million relating to land purchase and option contracts having a total remaining purchase price of approximately $995.1 million.

Our utilization of option contracts is dependent on, among other things, the availability of land sellers willing to enter into option takedown arrangements, the availability of capital to financial intermediaries,
 
general housing market conditions, and geographic preferences.  Options may be more difficult to procure from land sellers in strong housing markets and are more prevalent in certain geographic regions.
 
b.  Land Development and Homebuilding Joint Ventures
 
Our joint ventures have historically obtained secured acquisition, development and construction financing designed to reduce the use of funds from corporate financing sources.  As of September 30, 2017, we held ownership interests in 28 homebuilding and land development joint ventures, of which 14 were active and 14 were inactive or winding down.  As of September 30, 2017, we had no unconsolidated joint ventures with project specific debt outstanding.  At September 30, 2017, we had no joint venture surety bonds outstanding subject to indemnity arrangements by us.
 
c.  Surety Bonds
 
We obtain surety bonds in the normal course of business to ensure completion of the infrastructure of our communities.  At September 30, 2017, we had approximately $1,002.2 million in surety bonds outstanding, with respect to which we had an estimated $506.1 million remaining in cost to complete.
 
d.  Mortgage Loans and Commitments
 
We commit to making mortgage loans to our homebuyers through our mortgage financing subsidiary, CalAtlantic Mortgage.  CalAtlantic Mortgage sells substantially all of the loans it originates in the secondary mortgage market and finances these loans under its mortgage credit facility for a short period of time (typically for 30 to 45 days), as investors complete their administrative review of applicable loan documents.  Mortgage loans in process for which interest rates were committed to borrowers totaled approximately $291.6 million at September 30, 2017 and carried a weighted average interest rate of approximately 4.0%.  Interest rate risks related to these obligations are mitigated by CalAtlantic Mortgage through the preselling of loans to investors or through its interest rate hedging program.  As of September 30, 2017, CalAtlantic Mortgage had approximately $163.4 million in closed mortgage loans held for sale and $33.3 million of mortgage loans in process that we were committed to sell to investors subject to our funding of the loans and the investors' completion of their administrative review of the applicable loan documents.  In addition, as of September 30, 2017, CalAtlantic Mortgage had approximately $258.3 million of mortgage loans in process that were or are expected to be originated on a non-presold basis, substantially all of which were hedged by forward sale commitments of mortgage-backed securities prior to entering into loan sale transactions with third party investors.

Substantially all of the loans originated by CalAtlantic Mortgage are sold with servicing rights released on a non-recourse basis.  These sales are generally subject to CalAtlantic Mortgage's obligation to repay its gain on sale if the loan is prepaid by the borrower within a certain time period following such sale, or to repurchase the loan if, among other things, the purchaser's underwriting guidelines are not met, or there is fraud in connection with the loan.  During the nine months ended September 30, 2017 and 2016, CalAtlantic Mortgage recorded loan loss expense related to indemnification and repurchase allowances of $0.3 million and $0.1 million, respectively.  As of September 30, 2017 and December 31, 2016, CalAtlantic Mortgage had indemnity and repurchase allowances related to loans sold of approximately $3.8 million and $3.6 million, respectively.  In addition, during the nine months ended September 30, 2017 and 2016, CalAtlantic Mortgage made make-whole payments of $0.1 million and $0.3 million, respectively.
 
e.  Insurance and Litigation Accruals
 
Insurance and litigation accruals are established with respect to estimated future claims cost. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related claims.  We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations.  However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy.  We record allowances to cover the estimated costs of our self-insurance liability based on an
 
analysis performed by an independent third party actuary that uses our historical claim and expense data, as well as industry data to estimate these overall costs.  Our total insurance and litigation accruals as of September 30, 2017 and December 31, 2016 were $233.8 million and $233.5 million, respectively, which are included in accrued liabilities in the accompanying condensed consolidated balance sheets.  Because of the high degree of judgment required in determining these estimated accrual amounts, actual future claim costs could differ materially from our currently estimated amounts.

In July 2017, Weyerhaeuser Company notified the Company of an issue with a specific type of fire rated I-joist product manufactured after December 1, 2016.  The Company estimates that the joist is present in approximately 370 Company homes located in our Colorado, Twin Cities and Philadelphia markets. Weyerhaeuser has committed to us that they will absorb the costs and directly pay for the repair of the affected homes, and as a result, we do not believe we will incur any material costs, expenses or charges as a result of this issue.

18.     Income Taxes

We account for income taxes in accordance with ASC Topic 740, Income Taxes ("ASC 740").  ASC 740 requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered.  Changes to enacted tax rates could materially impact the recorded amount of our deferred tax asset.
 
Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740.  We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not to be unrealizable.  Our assessment considers, among other things, the nature, frequency and severity of our prior and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods, our utilization experience with operating loss and tax credit carryforwards, and tax planning alternatives.
 
Our 2017 third quarter provision for income taxes of $52.8 million primarily related to our $146.2 million of pretax income.  As of September 30, 2017, we had a $309.2 million deferred tax asset which was partially offset by a valuation allowance of $1.9 million related to state net operating loss carryforwards that are limited by shorter carryforward periods.  As of such date, $96.0 million of our deferred tax asset related to net operating loss carryforwards is subject to the Internal Revenue Code Section 382 gross annual deduction limitation of $15.6 million for both federal and state purposes.  Additionally, $16.1 million of our state deferred tax asset related to net operating losses is subject to 382 limitations resulting from our October 1, 2015 merger with Ryland, and $5.0 million related to state net operating loss carryforwards that are not limited by Section 382.  The remaining deferred tax asset balance of $192.1 million represented deductible timing differences, primarily related to inventory impairments and financial accruals, which have no expiration date.   As of September 30, 2017 and December 31, 2016, our liability for unrecognized tax benefits was $14.0 million and $12.1 million, respectively, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets. In addition, as of September 30, 2017, we remained subject to examination by various tax jurisdictions for the tax years ended December 31, 2012 through 2016.

19.     Subsequent Event

On October 29, 2017, the Company and Lennar Corporation ("Lennar") entered into an Agreement and Plan of Merger (the "Merger").  At the effective time of the Merger, each share of common stock of the Company issued and outstanding will be converted into and become the right to receive either (i) subject to adjustment, 0.885 shares (as adjusted, the "Exchange Ratio") of Class A common stock of Lennar ("Lennar stock") or (ii) $48.26 in cash.  Holders of Company common stock will have the option to elect to receive their consideration in the Merger in cash or stock, subject to proration to the extent cash to be paid to all such holders electing to receive cash consideration would exceed $1.16 billion.  At the effective time of the Merger, (i) the Company's options, restricted stock units and stock appreciation rights will be converted
 
into the option to acquire or right to receive in lieu of Company common stock, the number of shares of Lennar stock, as determined in accordance with the exchange ratio, and (ii) the Company's convertible notes will remain outstanding and become convertible in lieu of Company common stock, the number of shares of Lennar stock, as determined in accordance with the Exchange Ratio.  It is expected that the Merger will qualify as a tax-free reorganization for U.S. federal income tax purposes.  The consummation of the Merger is subject to the satisfaction or waiver of certain customary conditions, including the approval of the Merger by the Company's stockholders and the stockholders of Lennar.  For additional information about the Merger Agreement, reference is made to the Current Report on Form 8-K filed by the Company on October 30, 2017, which is incorporated by reference herein.

20.     Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows

The following are supplemental disclosures to the condensed consolidated statements of cash flows:
 
   
Nine Months Ended
 September 30,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
Supplemental Disclosures of Cash Flow Information:
            
Cash paid during the period for:
            
Income taxes
  
$
177,332
    
$
150,822
  
                 
Supplemental Disclosures of Noncash Activities:
                
Increase in secured project debt for assets acquired
  
$
16,480
    
$
25,625
  
 
 
 
 

 
21.     Supplemental Guarantor Information

Certain of our 100% owned direct and indirect subsidiaries guarantee our outstanding senior notes payable (please see Note 14 "Senior Notes Payable").  Presented below are the condensed consolidated financial statements for our guarantor subsidiaries and non-guarantor subsidiaries.

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
     
Three Months Ended September 30, 2017
  
     
CalAtlantic
 Group, Inc.
    
Guarantor Subsidiaries
    
Non-
 Guarantor Subsidiaries
    
Consolidating Adjustments
    
Consolidated
CalAtlantic
 Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
                              
Revenues
  
$
647,336
    
$
632,262
    
$
236,245
    
$
―
    
$
1,515,843
  
Cost of sales
    
(528,858
)
    
(505,367
)
    
(178,483
)
    
―
      
(1,212,708
)
Gross margin
    
118,478
      
126,895
      
57,762
      
―
      
303,135
  
Selling, general and administrative expenses
    
(68,237
)
    
(80,147
)
    
(20,045
)
    
―
      
(168,429
)
Income (loss) from unconsolidated joint ventures
    
981
      
252
      
4,193
      
―
      
5,426
  
Equity income of subsidiaries
    
62,765
      
―
      
―
      
(62,765
)
    
―
  
Interest income (expense), net
    
845
      
(519
)
    
(326
)
    
―
      
―
  
Other income (expense)
    
(3,714
)
    
(287
)
    
2,763
      
―
      
(1,238
)
Homebuilding pretax income
    
111,118
      
46,194
      
44,347
      
(62,765
)
    
138,894
  
Financial Services:
                                        
Financial services pretax income
    
―
      
―
      
7,278
      
―
      
7,278
  
Income before taxes
    
111,118
      
46,194
      
51,625
      
(62,765
)
    
146,172
  
Provision for income taxes
    
(17,766
)
    
(22,788
)
    
(12,266
)
    
―
      
(52,820
)
Net income
  
$
93,352
    
$
23,406
    
$
39,359
    
$
(62,765
)
  
$
93,352
  

 
   
Three Months Ended September 30, 2016
  
   
CalAtlantic
 Group, Inc.
    
Guarantor Subsidiaries
    
Non-
 Guarantor Subsidiaries
    
Consolidating Adjustments
    
Consolidated
CalAtlantic
 Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
                              
Revenues
  
$
707,397
    
$
656,095
    
$
307,466
    
$
―
    
$
1,670,958
  
Cost of sales
    
(561,856
)
    
(520,810
)
    
(213,600
)
    
―
      
(1,296,266
)
Gross margin
    
145,541
      
135,285
      
93,866
      
―
      
374,692
  
Selling, general and administrative expenses
    
(75,217
)
    
(75,834
)
    
(19,764
)
    
―
      
(170,815
)
Income (loss) from unconsolidated joint ventures
    
(717
)
    
44
      
1,904
      
―
      
1,231
  
Equity income of subsidiaries
    
95,380
      
―
      
―
      
(95,380
)
    
―
  
Interest income (expense), net
    
1,075
      
(886
)
    
(189
)
    
―
      
―
  
Other income (expense)
    
(3,602
)
    
(762
)
    
195
      
―
      
(4,169
)
Homebuilding pretax income
    
162,460
      
57,847
      
76,012
      
(95,380
)
    
200,939
  
Financial Services:
                                        
Financial services pretax income
    
―
      
―
      
9,807
      
―
      
9,807
  
Income before taxes
    
162,460
      
57,847
      
85,819
      
(95,380
)
    
210,746
  
Provision for income taxes
    
(30,112
)
    
(23,111
)
    
(25,175
)
    
―
      
(78,398
)
Net income
  
$
132,348
    
$
34,736
    
$
60,644
    
$
(95,380
)
  
$
132,348
  




21.     Supplemental Guarantor Information (continued)


CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
     
Nine Months Ended September 30, 2017
  
     
CalAtlantic
 Group, Inc.
    
Guarantor Subsidiaries
    
Non-
 Guarantor Subsidiaries
    
Consolidating Adjustments
    
Consolidated
CalAtlantic
 Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
                              
Revenues
  
$
1,955,915
    
$
1,835,567
    
$
683,174
    
$
―
    
$
4,474,656
  
Cost of sales
    
(1,592,317
)
    
(1,468,154
)
    
(512,348
)
    
―
      
(3,572,819
)
Gross margin
    
363,598
      
367,413
      
170,826
      
―
      
901,837
  
Selling, general and administrative expenses
    
(203,674
)
    
(237,232
)
    
(57,796
)
    
―
      
(498,702
)
Income (loss) from unconsolidated joint ventures
    
2,006
      
550
      
7,204
      
―
      
9,760
  
Equity income of subsidiaries
    
178,762
      
―
      
―
      
(178,762
)
    
―
  
Interest income (expense), net
    
2,439
      
(1,724
)
    
(715
)
    
―
      
―
  
Other income (expense)
    
(9,612
)
    
(543
)
    
6,073
      
―
      
(4,082
)
Homebuilding pretax income
    
333,519
      
128,464
      
125,592
      
(178,762
)
    
408,813
  
Financial Services:
                                        
Financial services pretax income
    
―
      
―
      
23,475
      
―
      
23,475
  
Income before taxes
    
333,519
      
128,464
      
149,067
      
(178,762
)
    
432,288
  
Provision for income taxes
    
(58,553
)
    
(61,411
)
    
(37,358
)
    
―
      
(157,322
)
Net income
  
$
274,966
    
$
67,053
    
$
111,709
    
$
(178,762
)
  
$
274,966
  



   
Nine Months Ended September 30, 2016
  
   
CalAtlantic
 Group, Inc.
    
Guarantor Subsidiaries
    
Non-
 Guarantor Subsidiaries
    
Consolidating Adjustments
    
Consolidated
CalAtlantic
 Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
                              
Revenues
  
$
1,817,935
    
$
1,866,598
    
$
750,470
    
$
―
    
$
4,435,003
  
Cost of sales
    
(1,451,579
)
    
(1,486,644
)
    
(533,543
)
    
―
      
(3,471,766
)
Gross margin
    
366,356
      
379,954
      
216,927
      
―
      
963,237
  
Selling, general and administrative expenses
    
(201,503
)
    
(220,595
)
    
(51,112
)
    
―
      
(473,210
)
Income (loss) from unconsolidated joint ventures
    
29
      
444
      
2,170
      
―
      
2,643
  
Equity income of subsidiaries
    
229,414
      
―
      
―
      
(229,414
)
    
―
  
Interest income (expense), net
    
3,685
      
(2,785
)
    
(900
)
    
―
      
―
  
Other income (expense)
    
(10,885
)
    
(1,241
)
    
134
      
―
      
(11,992
)
Homebuilding pretax income
    
387,096
      
155,777
      
167,219
      
(229,414
)
    
480,678
  
Financial Services:
                                        
Financial services pretax income
    
―
      
―
      
24,889
      
―
      
24,889
  
Income before taxes
    
387,096
      
155,777
      
192,108
      
(229,414
)
    
505,567
  
Provision for income taxes
    
(69,327
)
    
(66,659
)
    
(51,812
)
    
―
      
(187,798
)
Net income
  
$
317,769
    
$
89,118
    
$
140,296
    
$
(229,414
)
  
$
317,769
  

21.     Supplemental Guarantor Information (continued)

CONDENSED CONSOLIDATING BALANCE SHEET
 
   
September 30, 2017
  
   
CalAtlantic
 Group, Inc.
    
Guarantor
 Subsidiaries
    
Non-Guarantor
 Subsidiaries
    
Consolidating
 Adjustments
    
Consolidated
CalAtlantic
 Group, Inc.
  
   
(Dollars in thousands)
  
ASSETS
                              
Homebuilding:
                              
Cash and equivalents
  
$
25,694
    
$
31,465
    
$
26,151
    
$
―
    
$
83,310
  
Restricted cash
    
―
      
―
      
29,620
      
―
      
29,620
  
Intercompany receivables
    
2,121,692
      
―
      
398,530
      
(2,520,222
)
    
―
  
Inventories:
                                        
Owned
    
3,208,403
      
2,279,408
      
1,458,955
      
―
      
6,946,766
  
Not owned
    
44,285
      
37,100
      
10,559
      
―
      
91,944
  
Investments in unconsolidated joint ventures
    
5,895
      
3,750
      
121,047
      
―
      
130,692
  
Investments in subsidiaries
    
2,131,970
      
―
      
―
      
(2,131,970
)
    
―
  
Deferred income taxes, net
    
313,894
      
―
      
―
      
(6,643
)
    
307,251
  
Goodwill
    
970,185
      
―
      
15,000
      
―
      
985,185
  
Other assets
    
172,296
      
43,380
      
19,459
      
―
      
235,135
  
Total Homebuilding Assets
    
8,994,314
      
2,395,103
      
2,079,321
      
(4,658,835
)
    
8,809,903
  
Financial Services:
                                        
Cash and equivalents
    
―
      
―
      
46,357
      
―
      
46,357
  
Restricted cash
    
―
      
―
      
21,205
      
―
      
21,205
  
Mortgage loans held for sale, net
    
―
      
―
      
160,068
      
―
      
160,068
  
Mortgage loans held for investment, net
    
―
      
―
      
25,510
      
―
      
25,510
  
Other assets
    
―
      
―
      
17,792
      
(1,801
)
    
15,991
  
Total Financial Services Assets
    
―
      
―
      
270,932
      
(1,801
)
    
269,131
  
Total Assets
  
$
8,994,314
    
$
2,395,103
    
$
2,350,253
    
$
(4,660,636
)
  
$
9,079,034
  
                                         
LIABILITIES AND EQUITY
                                        
Homebuilding:
                                        
Accounts payable
  
$
95,533
    
$
58,196
    
$
24,023
    
$
―
    
$
177,752
  
Accrued liabilities and intercompany payables
    
365,920
      
1,260,516
      
1,066,124
      
(2,130,136
)
    
562,424
  
Revolving credit facility
    
295,600
      
―
      
―
      
―
      
295,600
  
Secured project debt and other notes payable
    
424,662
      
―
      
17,018
      
(398,530
)
    
43,150
  
Senior notes payable
    
3,483,388
      
―
      
―
      
―
      
3,483,388
  
Total Homebuilding Liabilities
    
4,665,103
      
1,318,712
      
1,107,165
      
(2,528,666
)
    
4,562,314
  
Financial Services:
                                        
Accounts payable and other liabilities
    
―
      
―
      
20,831
      
―
      
20,831
  
Mortgage credit facility
    
―
      
―
      
152,786
      
―
      
152,786
  
Total Financial Services Liabilities
    
―
      
―
      
173,617
      
―
      
173,617
  
Total Liabilities
    
4,665,103
      
1,318,712
      
1,280,782
      
(2,528,666
)
    
4,735,931
  
                                         
Equity:
                                        
Total Stockholders' Equity
    
4,329,211
      
1,076,391
      
1,055,579
      
(2,131,970
)
    
4,329,211
  
Noncontrolling interest
    
―
      
―
      
13,892
      
―
      
13,892
  
     Total Equity
    
4,329,211
      
1,076,391
      
1,069,471
      
(2,131,970
)
    
4,343,103
  
Total Liabilities and Equity
  
$
8,994,314
    
$
2,395,103
    
$
2,350,253
    
$
(4,660,636
)
  
$
9,079,034
  

21.     Supplemental Guarantor Information (continued)

CONDENSED CONSOLIDATING BALANCE SHEET
 
   
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
  



21.     Supplemental Guarantor Information (continued)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
 
     
Nine Months Ended September 30, 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
  
$
(287,435
)
  
$
16,744
    
$
147,216
    
$
―
    
$
(123,475
)
                                         
Cash Flows From Investing Activities:
                                        
Investments in unconsolidated homebuilding joint ventures
    
(178
)
    
(79
)
    
(32,955
)
    
―
      
(33,212
)
Distributions of capital from unconsolidated homebuilding joint ventures
    
500
      
1,867
      
10,403
      
―
      
12,770
  
Net cash paid for acquisitions
    
―
      
―
      
(44,477
)
    
―
      
(44,477
)
Loan to parent and subsidiaries
    
―
      
―
      
(65,054
)
    
65,054
      
―
  
Other investing activities
    
(2,098
)
    
(1,519
)
    
(7,496
)
    
―
      
(11,113
)
Net cash provided by (used in) investing activities
    
(1,776
)
    
269
      
(139,579
)
    
65,054
      
(76,032
)
                                         
Cash Flows From Financing Activities:
                                        
Change in restricted cash
    
―
      
―
      
(794
)
    
―
      
(794
)
Borrowings from revolving credit facility
    
685,550
      
―
      
―
      
―
      
685,550
  
Principal payments on revolving credit facility
    
(389,950
)
    
―
      
―
      
―
      
(389,950
)
Principal payments on secured project debt and other notes payable
    
―
      
―
      
(909
)
    
―
      
(909
)
Principal payment on senior notes payable
    
(483,000
)
    
―
      
―
      
―
      
(483,000
)
Proceeds from the issuance of senior notes payable
    
579,125
      
―
      
―
      
―
      
579,125
  
Payment of debt issuance costs
    
(5,019
)
    
―
      
―
      
―
      
(5,019
)
Loan from subsidiary
    
65,054
      
―
      
―
      
(65,054
)
    
―
  
Net proceeds from (payments on) mortgage credit facility
    
―
      
―
      
(94,641
)
    
―
      
(94,641
)
(Contributions to) distributions from Corporate and subsidiaries
    
1,210
      
―
      
(1,210
)
    
―
      
―
  
Repurchases of common stock
    
(150,014
)
    
―
      
―
      
―
      
(150,014
)
Common stock dividend payments
    
(13,427
)
    
―
      
―
      
―
      
(13,427
)
Issuance of common stock under employee stock plans, net of tax withholdings
    
(5,807
)
    
―
      
―
      
―
      
(5,807
)
Other financing activities
    
―
      
―
      
(67
)
    
―
      
(67
)
Intercompany advances, net
    
(74,078
)
    
(23,759
)
    
97,837
      
―
      
―
  
Net cash provided by (used in) financing activities
    
209,644
      
(23,759
)
    
216
      
(65,054
)
    
121,047
  
                                         
Net increase (decrease) in cash and equivalents
    
(79,567
)
    
(6,746
)
    
7,853
      
―
      
(78,460
)
Cash and equivalents at beginning of period
    
105,261
      
38,211
      
64,655
      
―
      
208,127
  
Cash and equivalents at end of period
  
$
25,694
    
$
31,465
    
$
72,508
    
$
―
    
$
129,667
  


     
Nine Months Ended September 30, 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
  
$
(49,169
)
  
$
16,087
    
$
200,744
    
$
―
    
$
167,662
  
                                         
Cash Flows From Investing Activities:
                                        
Investments in unconsolidated homebuilding joint ventures
    
(235
)
    
(192
)
    
(26,573
)
    
―
      
(27,000
)
Distributions of capital from unconsolidated homebuilding joint ventures
    
1,107
      
333
      
22,287
      
―
      
23,727
  
Loan to parent and subsidiaries
    
―
      
―
      
(88,800
)
    
88,800
      
―
  
Other investing activities
    
(325
)
    
(1,958
)
    
(3,106
)
    
―
      
(5,389
)
Net cash provided by (used in) investing activities
    
547
      
(1,817
)
    
(96,192
)
    
88,800
      
(8,662
)
                                         
Cash Flows From Financing Activities:
                                        
Change in restricted cash
    
―
      
―
      
7,309
      
―
      
7,309
  
Borrowings from revolving credit facility
    
1,008,000
      
―
      
―
      
―
      
1,008,000
  
Principal payments on revolving credit facility
    
(862,000
)
    
―
      
―
      
―
      
(862,000
)
Principal payments on secured project debt and other notes payable
    
(9,985
)
    
―
      
(404
)
    
―
      
(10,389
)
Principal payments on senior notes payable
    
(280,000
)
    
―
      
―
      
―
      
(280,000
)
Proceeds from the issuance of senior notes payable
    
300,000
      
―
      
―
      
―
      
300,000
  
Payment of debt issue costs
    
(2,657
)
    
―
      
―
      
―
      
(2,657
)
Loan from subsidiary
    
88,800
      
―
      
―
      
(88,800
)
    
―
  
Net proceeds from (payments on) mortgage credit facility
    
―
      
―
      
(141,524
)
    
―
      
(141,524
)
(Contributions to) distributions from Corporate and subsidiaries
    
18,350
      
―
      
(18,350
)
    
―
      
―
  
Repurchases of common stock
    
(137,464
)
    
―
      
―
      
―
      
(137,464
)
Common stock dividend payments
    
(14,264
)
    
―
      
―
      
―
      
(14,264
)
Issuance of common stock under employee stock plans, net of tax withholdings
    
1,868
      
―
      
―
      
―
      
1,868
  
Other financing activities
    
―
      
(199
)
    
―
      
―
      
(199
)
Intercompany advances, net
    
49,757
      
(95,992
)
    
46,235
      
―
      
―
  
Net cash provided by (used in) financing activities
    
160,405
      
(96,191
)
    
(106,734
)
    
(88,800
)
    
(131,320
)
                                         
Net increase (decrease) in cash and equivalents
    
111,783
      
(81,921
)
    
(2,182
)
    
―
      
27,680
  
Cash and equivalents at beginning of period
    
6,387
      
112,852
      
67,355
      
―
      
186,594
  
Cash and equivalents at end of period
  
$
118,170
    
$
30,931
    
$
65,173
    
$
―
    
$
214,274
  

ITEM 2.        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 
Recent Developments

On October 30, 2017, the Company announced that it has entered into a definitive merger agreement with Lennar Corporation ("Lennar") pursuant to which each share of CalAtlantic stock will be exchanged for 0.885 shares of Lennar Class A common stock.  CalAtlantic's stockholders will also have the option to elect to exchange all or a portion of their shares for cash in the amount of $48.26 per share, subject to a maximum cash amount of approximately $1.2 billion.  This business combination will create the nation's largest homebuilder.  The transaction, which is subject to the satisfaction or waiver of certain customary conditions, including the approval of the merger by the Company's stockholders and the stockholders of Lennar, is expected to close in the first calendar quarter of 2018.
 
 
 
 
 
 
 

Results of Operations
Selected Financial Information
(Unaudited)
 
     
Three Months Ended
 September 30,
    
Nine Months Ended
 September 30,
  
   
2017
    
2016
    
2017
    
2016
  
     
(Dollars in thousands, except per share amounts)
  
Homebuilding:
                        
Home sale revenues
  
$
1,515,167
    
$
1,665,030
    
$
4,473,480
    
$
4,402,896
  
Land sale revenues
    
676
      
5,928
      
1,176
      
32,107
  
Total revenues
    
1,515,843
      
1,670,958
      
4,474,656
      
4,435,003
  
Cost of home sales
    
(1,212,468
)
    
(1,290,628
)
    
(3,572,572
)
    
(3,440,549
)
Cost of land sales
    
(240
)
    
(5,638
)
    
(247
)
    
(31,217
)
Total cost of sales
    
(1,212,708
)
    
(1,296,266
)
    
(3,572,819
)
    
(3,471,766
)
Gross margin
    
303,135
      
374,692
      
901,837
      
963,237
  
Gross margin percentage
    
20.0
%
    
22.4
%
    
20.2
%
    
21.7
%
Selling, general and administrative expenses
    
(168,429
)
    
(170,815
)
    
(498,702
)
    
(473,210
)
Income (loss) from unconsolidated joint ventures
    
5,426
      
1,231
      
9,760
      
2,643
  
Other income (expense)
    
(1,238
)
    
(4,169
)
    
(4,082
)
    
(11,992
)
Homebuilding pretax income
    
138,894
      
200,939
      
408,813
      
480,678
  
                                 
Financial Services:
                                
Revenues
    
20,161
      
21,433
      
60,394
      
59,524
  
Expenses
    
(12,883
)
    
(11,626
)
    
(36,919
)
    
(34,635
)
Financial services pretax income
    
7,278
      
9,807
      
23,475
      
24,889
  
                                 
Income before taxes
    
146,172
      
210,746
      
432,288
      
505,567
  
Provision for income taxes
    
(52,820
)
    
(78,398
)
    
(157,322
)
    
(187,798
)
Net income
    
93,352
      
132,348
      
274,966
      
317,769
  
   Less: Net income allocated to unvested restricted stock
    
(400
)
    
(294
)
    
(1,104
)
    
(635
)
Net income available to common stockholders
  
$
92,952
    
$
132,054
    
$
273,862
    
$
317,134
  
                                 
Income Per Common Share:
                                
Basic
  
$
0.84
    
$
1.12
    
$
2.43
    
$
2.66
  
Diluted
  
$
0.75
    
$
0.97
    
$
2.14
    
$
2.34
  
                                 
Weighted Average Common Shares Outstanding:
                                
Basic
    
110,205,460
      
118,338,891
      
112,778,362
      
119,188,145
  
Diluted
    
124,449,912
      
136,077,415
      
129,521,479
      
136,888,927
  
                                 
Cash dividends declared per common share
  
$
0.04
    
$
0.04
    
$
0.12
    
$
0.12
  
Net cash provided by (used in) operating activities
  
$
(124,067
)
  
$
104,048
    
$
(123,475
)
  
$
167,662
  
Net cash provided by (used in) investing activities
  
$
(4,805
)
  
$
9,981
    
$
(76,032
)
  
$
(8,662
)
Net cash provided by (used in) financing activities
  
$
42,845
    
$
(187,625
)
  
$
121,047
    
$
(131,320
)
                                 
Adjusted Homebuilding EBITDA (1)
  
$
205,852
    
$
267,835
    
$
605,216
    
$
682,113
  
__________________
(1)
Adjusted Homebuilding EBITDA means net income (plus cash distributions of income from unconsolidated joint ventures) before (a) income taxes, (b) homebuilding interest expense, (c) expensing of previously capitalized interest included in cost of sales, (d) impairment charges, (e) gain (loss) on early extinguishment of debt, (f) homebuilding depreciation and amortization, including amortization of capitalized model costs, (g) amortization of stock-based compensation, (h) income (loss) from unconsolidated joint ventures, (i) income (loss) from financial services subsidiaries, (j) purchase accounting adjustments and (k) merger and other one-time transaction related costs.  Other companies may calculate Adjusted Homebuilding EBITDA (or similarly titled measures) differently. We believe Adjusted Homebuilding EBITDA information is useful to management and investors as it provides perspective on the underlying performance of the business. However, it should be noted that Adjusted Homebuilding EBITDA is not a U.S. generally accepted accounting principles ("GAAP") financial measure. Due to the significance of the GAAP components excluded, Adjusted Homebuilding EBITDA should not be considered in isolation or as an alternative to cash flows from operations or any other liquidity performance measure prescribed by GAAP.

(1) continued
The table set forth below reconciles net income, calculated and presented in accordance with GAAP, to Adjusted Homebuilding EBITDA:
 
   
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
    
LTM Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands)
  
                                     
Net income
 
$
93,352
    
$
132,348
    
$
274,966
    
$
317,769
    
$
441,927
    
$
395,298
  
Provision for income taxes
   
52,820
      
78,398
      
157,322
      
187,798
      
237,910
      
236,446
  
Homebuilding interest amortized to cost of sales
    
48,912
      
44,751
      
140,687
      
116,963
      
195,425
      
163,820
  
Homebuilding depreciation and amortization
   
14,101
      
15,735
      
41,692
      
43,128
      
60,116
      
61,827
  
EBITDA
    
209,185
      
271,232
      
614,667
      
665,658
      
935,378
      
857,391
  
Add:
                                                
Amortization of stock-based compensation
    
5,066
      
3,704
      
14,282
      
11,216
      
20,860
      
18,220
  
Cash distributions of income from unconsolidated
                                               
joint ventures
   
3,970
      
―
      
7,244
      
450
      
7,465
      
2,688
  
Merger-related purchase accounting adjustments
                                               
included in cost of home sales
   
―
      
―
      
―
      
18,535
      
―
      
82,705
  
Merger and other one-time costs
   
335
      
3,937
      
2,258
      
13,786
      
4,957
      
58,635
  
Less:
                                                
Income (loss) from unconsolidated joint ventures
   
5,426
      
1,231
      
9,760
      
2,643
      
11,174
      
4,990
  
Income from financial services subsidiaries
   
7,278
      
9,807
      
23,475
      
24,889
      
38,200
      
34,955
  
Adjusted Homebuilding EBITDA
 
$
205,852
    
$
267,835
    
$
605,216
    
$
682,113
    
$
919,286
    
$
979,694
  
 
Discussion and Analysis of CalAtlantic's Results for the Three and Nine Months Ended September 30, 2017 with comparisons to the Three and Nine Months Ended September 30, 2016

Overview
 
Operating and Financial Results.  The Company's 2017 third quarter results reflect a continuation of the housing market recovery and our focus on the execution of our strategy, offset by the negative impact to our business from the Weyerhaueser I-joist issue and Hurricanes Harvey and Irma discussed below, which collectively reduced our 2017 third quarter deliveries by approximately 240 units. We delivered 3,380 homes during the quarter, generating home sale revenues of $1.5 billion, down 9% in dollar value from the prior year period, on an average selling price of $448 thousand, compared to $452 thousand for the third quarter of 2016.  We reported net income of $93.4 million, or $0.75 per diluted share in the 2017 third quarter, as compared to $132.3 million, or $0.97 per diluted share, for the 2016 third quarter.  Homebuilding pretax income for the 2017 third quarter was $138.9 million, compared to $200.9 million in the 2016 third quarter.  Our gross margin from home sales was 20.0% for the third quarter of 2017, compared to 22.5% for the prior year period, and our operating margin from home sales for the 2017 third quarter was 8.9%, compared to 12.2% for the 2016 third quarter. For the nine months ended September 30, 2017, we reported net income of $275.0 million, or $2.14 per diluted share, as compared to $317.8 million, or $2.34 per diluted share, in the prior period.  Homebuilding pretax income for the nine months ended September 30, 2017 was $408.8 million, compared to $480.7 million in the prior year period.

In July 2017, Weyerhaeuser Company notified the building community of an issue with a specific type of fire rated I-joist product manufactured after December 1, 2016.  Weyerhaueser has estimated that approximately 2,200 homes nationwide contain the joist.  The Company estimates that the joist is present in approximately 370 Company homes located in our Colorado, Twin Cities and Philadelphia markets.  Of the identified 370 impacted homes, 53 have been delivered to homeowners, 6 are model homes, and the remainder are in various stages of construction.  Weyerhaeuser has committed to us that they will absorb the costs and directly pay for the repair of the affected homes, and as a result, we do not believe we will incur any material costs, expenses or charges as a result of this issue.  Weyerhaeuser has hired a national restoration general contractor to remediate the affected homes, however, we do not yet know the ultimate timing for delivering the remaining homes impacted by this issue. 

During the 2017 third quarter, our Houston division and divisions within our Southeast reporting segment were adversely impacted by the severe flooding associated with Hurricanes Harvey and Irma. 
 
While the impact of the hurricanes did not result in significant damage or losses to our properties, our 2017 third quarter closings were negatively impacted by approximately 145 deliveries.


Homebuilding

         
Three Months Ended
 September 30,
   Nine Months Ended
September 30,
           
2017
  
2016
  
% Change
  
2017
  
2016
  
% Change
           
(Dollars in thousands)
Homebuilding revenues:
                                
 
North
  
$
 282,591
 
$
 283,060
 
(0%)
  
$
 848,438
 
$
 710,889
 
19%
 
Southeast
  
 427,244
   
 400,720
 
7%
    
 1,207,616
   
 1,065,038
 
13%
 
Southwest
  
 356,952
   
 389,160
 
(8%)
    
 1,099,803
   
 1,165,797
 
(6%)
 
West
  
 
 449,056
 
 
 598,018
 
(25%)
  
 
 1,318,799
 
 
 1,493,279
 
(12%)
     
Total homebuilding revenues
  
$
 1,515,843
 
$
 1,670,958
 
(9%)
  
$
 4,474,656
 
$
 4,435,003
 
1%
         
  
                            
Homebuilding pretax income:
  
                            
 
North
  
$
 25,895
 
$
 25,627
 
1%
  
$
 74,492
 
$
 53,177
 
40%
 
Southeast
  
 30,094
   
 31,303
 
(4%)
    
 85,695
   
 84,125
 
2%
 
Southwest
  
 31,648
   
 39,312
 
(19%)
    
 100,757
   
 113,145
 
(11%)
 
West
  
 
 51,257
 
 
 104,697
 
(51%)
  
 
 147,869
 
 
 230,231
 
(36%)
     
Total homebuilding pretax income
  
$
 138,894
 
$
 200,939
 
(31%)
  
$
 408,813
 
$
 480,678
 
(15%)
         
  
                            
Homebuilding pretax income as a percentage
  
                            
 of homebuilding revenues:
                                
 
North
  
9.2%
    
9.1%
  
0.1%
    
8.8%
    
7.5%
  
1.3%
 
Southeast
  
7.0%
    
7.8%
  
(0.8%)
    
7.1%
    
7.9%
  
(0.8%)
 
Southwest
  
8.9%
    
10.1%
  
(1.2%)
    
9.2%
    
9.7%
  
(0.5%)
 
West
  
 
11.4%
  
 
17.5%
  
(6.1%)
  
 
11.2%
  
 
15.4%
  
(4.2%)
     
Total homebuilding pretax income percentage
  
 
9.2%
  
 
12.0%
  
(2.8%)
  
 
9.1%
  
 
10.8%
  
(1.7%)

Homebuilding pretax income for the 2017 third quarter was $138.9 million compared to $200.9 million in the year earlier period.  This decrease was primarily attributable to the 250 basis point decrease in gross margin percentage from home sales and a 9% decrease in home sale revenues.  Homebuilding pretax income as a percentage of homebuilding revenues for the 2017 third quarter was 9.2%, down 280 basis points compared to 12.0% for the prior year period, ranging from up 10 basis points in the North to down 610 basis points in the West.  The West region pretax income as a percentage of homebuilding revenues was down 610 basis points primarily due to a mix shift from higher to lower margin communities.  Homebuilding pretax income as a percentage of homebuilding revenues for the 2017 third quarter was down slightly from the prior year in our Southeast and Southwest regions and up slightly from the prior year in our North region.
 
For the nine months ended September 30, 2017, we reported homebuilding pretax income of $408.8 million compared to $480.7 million in the year earlier period.  This decrease was primarily attributable to the 180 basis point decrease in gross margin percentage from home sales, partially offset by an 2% increase in home sale revenues.
 
Revenues

Home sale revenues for the 2017 third quarter were down 9% from the prior year period, primarily as a result of an 8% decrease in new home deliveries, driven by the effects of Hurricanes Harvey and Irma and the Weyerhaeuser I-joist issue.  In the Southeast, homebuilding revenues increased 7% in the 2017 third quarter compared to the prior year period, primarily as a result of a 10% increase in average home price, partially offset by a 3% decrease in deliveries.
 
Home sales revenues increased 2%, from $4.4 billion for the nine months ended September 30, 2016, to $4.5 billion for the nine months ended September 30, 2017, primarily as a result of a 2% increase in new home deliveries.
 
           
Three Months Ended
 September 30,
 
Nine Months Ended
 September 30,
           
2017
  
2016
  
% Change
  
2017
  
2016
  
% Change
New homes delivered:
 
                      
 
North
 
 792
 
 848
 
(7%)
  
 2,389
 
 2,120
 
13%
 
Southeast
 
 1,025
 
 1,052
 
(3%)
  
 2,981
 
 2,748
 
8%
 
Southwest
 
 792
 
 894
 
(11%)
  
 2,485
 
 2,751
 
(10%)
 
West
 
 771
 
 886
 
(13%)
  
 2,190
 
 2,272
 
(4%)
   
Total
 
 3,380
 
 3,680
 
(8%)
  
 10,045
 
 9,891
 
2%

 
During the 2017 third quarter, deliveries within our North and Southwest regions were negatively impacted by the Weyerhauser I-joist issue discussed above, which caused a reduction in deliveries in each region of approximately 45 and 50 units, respectively.  Our Southwest region also experienced a reduction in deliveries of approximately 30 units as a result of Hurricane Harvey's impact on our Houston division.  Additionally our Southeast region experienced a reduction in deliveries of approximately 115 units as a result of Hurricane Irma.  In the West, the majority of divisions within the region experienced double digit percentage decreases in deliveries, which were partially offset by double digit percentage increases in Phoenix.
 
         
Three Months Ended
 September 30,
 
Nine Months Ended
 September 30,
         
2017
  
2016
  
% Change
  
2017
  
2016
  
% Change
         
(Dollars in thousands)
Average selling prices of homes delivered:
 
                              
 
North
 
$
 357
 
$
 332
 
8%
  
$
 355
 
$
 335
 
6%
 
Southeast
 
  
 417
   
 380
 
10%
    
 405
   
 387
 
5%
 
Southwest
 
  
 450
   
 435
 
3%
    
 442
   
 424
 
4%
 
West
 
  
 582
   
 671
 
(13%)
    
 602
   
 645
 
(7%)
   
Total
 
$
 448
 
$
 452
 
(1%)
  
$
 445
 
$
 445
 
   ―  

 
Our 2017 third quarter consolidated average selling price of $448 thousand decreased 1% compared to $452 thousand for the prior year period.  The decrease in our consolidated average selling price was primarily driven by a 13% decrease in our West region, attributable to a shift in product mix.

Gross Margin

Our 2017 third quarter gross margin percentage from home sales was 20.0% compared to 22.5% in the 2016 third quarter.  For the nine months ended September 30, 2017, our gross margin percentage from home sales decreased to 20.1% compared to 21.9% in the prior year period. The year over year decrease was primarily attributable to a shift in product mix and an increase in direct construction costs per home.

SG&A Expenses

Our 2017 third quarter SG&A expenses (including Corporate G&A) were $168.4 million compared to $170.8 million for the prior year period, up 80 basis points as a percentage of home sale revenues to 11.1% compared to 10.3% for the 2016 third quarter.  Isolating G&A from selling expenses, G&A expenses increased as a percentage of home sale revenues to 5.6% for the 2017 third quarter compared to 5.2% for the prior year period, primarily as a result of a decrease in home sale revenues, driven by the effects of Hurricanes Harvey and Irma and the Weyerhaeuser I-joist issue.  Our selling expenses as a percentage of home sale revenues increased to 5.5% for the 2017 third quarter compared to 5.1% in the prior year period, as we continue to experience higher co-broker participation, driving an approximately 20 basis point increase compared to the prior year period.  In addition, internal commissions for the 2017 third quarter were up approximately 10 basis points compared to the prior year period, driven by a timing related increase due to a large order/delivery imbalance, primarily in the West region where our orders exceeded our deliveries by 16%.

Operating Data
 
         
Three Months Ended
 September 30,
  
Nine Months Ended
 September 30,
         
2017
  
2016
  
% Change
  
% Absorption Change (1)
  
2017
  
2016
  
% Change
  
% Absorption Change (1)
Net new orders (2):
 
                              
 
North
 
 768
 
 823
 
(7%)
  
(17%)
  
 2,747
 
 2,647
 
4%
  
(9%)
 
Southeast
 
 1,015
 
 1,071
 
(5%)
  
(6%)
  
 3,550
 
 3,384
 
5%
  
3%
 
Southwest
 
 735
 
 831
 
(12%)
  
(8%)
  
 2,662
 
 2,907
 
(8%)
  
(0%)
 
West
 
 898
 
 806
 
11%
  
15%
  
 2,839
 
 2,649
 
7%
  
18%
   
Total
 
 3,416
 
 3,531
 
(3%)
  
(5%)
  
 11,798
 
 11,587
 
2%
  
2%
 

         
Three Months Ended
 September 30,
 
Nine Months Ended
 September 30,
         
2017
  
2016
  
% Change
  
2017
  
2016
  
% Change
Cancellation Rates:
 
                              
 
North
 
  
16%
    
16%
  
         ― 
   
15%
    
13%
  
2%
 
Southeast
 
  
12%
    
14%
  
(2%)
    
12%
    
13%
  
(1%)
 
Southwest
 
  
19%
    
18%
  
1%
    
15%
    
15%
  
         ― 
 
West
 
  
15%
    
18%
  
(3%)
    
15%
    
17%
  
(2%)
   
Total
 
 
15%
  
 
16%
  
(1%)
  
 
14%
  
 
14%
  
         ― 


         
Three Months Ended
 September 30,
 
Nine Months Ended
 September 30,
         
2017
  
2016
  
% Change
  
2017
  
2016
  
% Change
Average selling prices of net new orders:
 
(Dollars in thousands)
 
North
 
$
 358
 
$
 337
 
6%
  
$
 352
 
$
 333
 
6%
 
Southeast
 
  
 405
   
 375
 
8%
    
 397
   
 374
 
6%
 
Southwest
 
  
 450
   
 428
 
5%
    
 446
   
 429
 
4%
 
West
 
  
 669
   
 603
 
11%
    
 649
   
 632
 
3%
   
Total
 
$
 473
 
$
 431
 
10%
  
$
 458
 
$
 437
 
5%


         
Three Months Ended
 September 30,
  
Nine Months Ended
 September 30,
         
2017
  
2016
  
% Change
  
2017
  
2016
  
% Change
Average number of selling communities during the period:
 
                      
 
North
 
 150
 
 134
 
12%
  
 143
 
 125
 
14%
 
Southeast
 
 184
 
 182
 
1%
  
 183
 
 180
 
2%
 
Southwest
 
 158
 
 165
 
(4%)
  
 156
 
 170
 
(8%)
 
West
 
 82
 
 85
 
(4%)
  
 83
 
 91
 
(9%)
   
Total
 
 574
 
 566
 
1%
  
 565
 
 566
 
(0%)
__________________
(1)
Represents the percentage change of net new orders per average number of selling communities during the period.
(2)
Net new orders are new orders for the purchase of homes during the period, less cancellations during such period of existing contracts for the purchase of homes.

Net new orders for the 2017 third quarter decreased 3%, to 3,416 homes, from the prior year period on a 1% increase in average active selling communities.  Our monthly sales absorption rate was 2.0 per community for the 2017 third quarter, down 5% compared to the 2016 third quarter and down 19% compared to the 2017 second quarter.  Although our monthly sales absorption rate of 2.0 per community for the 2017 third quarter was down compared to the 2016 third quarter, the change in our absorption rates varied widely across our regions, from up 15% in the West, to down 17% in the North.  In the West, strong double digit increases in absorption rate in Phoenix and Southern California were partially offset by a slight decrease in San Diego and Sacramento compared to the prior year period.  The 17% decrease in absorption rate for our North region was driven primarily by decreases in most divisions, partially offset by a 1% increase in Philadelphia compared to the prior year period.  Our cancellation rate for the 2017 third quarter was 15%, down compared to 16% for the 2016 third quarter and up slightly from 14% for the 2017 second quarter.  Our 2017 third quarter cancellation rate was down significantly from the average historical
 
cancellation rate of approximately 18% we have experienced over the last 10 years.  At September 30, 2017, we had 574 active selling communities.
 
         
At September 30,
       
 
2017
  
2016
  
% Change
Backlog ($ in thousands):
 
Homes
  
Dollar Value
  
Homes
  
Dollar Value
  
Homes
  
Dollar Value
 
North
 
  
 1,656
 
$
 603,952
   
 1,530
 
$
 523,882
   
8%
    
15%
 
Southeast
 
  
 2,362
   
 1,018,389
   
 2,257
   
 934,797
   
5%
    
9%
 
Southwest
 
  
 1,791
   
 877,533
   
 2,058
   
 945,052
   
(13%)
    
(7%)
 
West
 
  
 1,761
   
 1,208,827
   
 1,462
   
 911,152
   
20%
    
33%
   
Total
 
 
 7,570
 
$
 3,708,701
 
 
 7,307
 
$
 3,314,883
 
 
4%
  
 
12%
 
The dollar value of our backlog as of September 30, 2017 increased 12% from the year earlier period to $3.7 billion, or 7,570 homes.  The increase in backlog value compared to the prior year period was driven by the 8% increase in the average home price in our backlog, to $490 thousand as of September 30, 2017, and a 4% increase in units in backlog.
 
         
At September 30,
         
2017
  
2016
  
% Change
Homesites owned and controlled:
 
          
 
North
 
 14,172
 
 15,966
 
(11%)
 
Southeast
 
 23,591
 
 22,993
 
3%
 
Southwest
 
 14,560
 
 15,113
 
(4%)
 
West
 
 15,638
 
 13,892
 
13%
   
Total (including joint ventures)
 
 67,961
 
 67,964
 
(0%)
       
 
          
 
Homesites owned
 
 52,285
 
 51,385
 
2%
 
Homesites optioned or subject to contract
 
 14,544
 
 15,209
 
(4%)
 
Joint venture homesites (1)
 
 1,132
 
 1,370
 
(17%)
   
Total (including joint ventures)
 
 67,961
 
 67,964
 
(0%)
       
 
          
                   
Homesites owned:
 
          
 
Raw lots
 
 11,309
 
 10,013
 
13%
 
Homesites under development
 
 12,825
 
 10,980
 
17%
 
Finished homesites
 
 12,908
 
 15,071
 
(14%)
 
Under construction or completed homes
 
 10,826
 
 10,055
 
8%
 
Held for future development/for sale
 
 4,417
 
 5,266
 
(16%)
   
Total
 
 52,285
 
 51,385
 
2%
__________________
(1)
Joint venture homesites represent our expected share of land development joint venture homesites and all of the homesites of our homebuilding joint ventures.

Total homesites owned and controlled as of September 30, 2017 remained flat from the year earlier period and increased 4% from the 65,424 homesites owned and controlled as of December 31, 2016.  We purchased $304.7 million of land (4,043 homesites) during the 2017 third quarter, of which 17% (based on homesites) were located in the North, 40% in the Southeast, 20% in the Southwest, and 23% in the West.  As of September 30, 2017, we owned or controlled 67,961 homesites, of which 47,868 were owned and actively selling or under development, 15,676 were controlled or under option (including joint venture homesites), and the remaining 4,417 homesites were held for future development or for sale.  Land acquisition remains a key strategic initiative and we continue a disciplined approach in pursuing opportunities across our regions that meet our underwriting standards.
 
               
At September 30,
               
2017
  
2016
  
% Change
Homes under construction: 
 
          
 
Homes under construction (excluding specs)
 
 5,210
 
 4,797
 
9%
 
Speculative homes under construction
 
 2,909
 
 2,568
 
13%
   
Total homes under construction
 
 8,119
 
 7,365
 
10%
                         
Completed homes:
 
          
 
Completed and unsold homes (excluding models)
 
 1,059
 
 973
 
9%
 
Completed and under contract (excluding models)
 
 779
 
 845
 
(8%)
 
Model homes
 
 869
 
 872
 
(0%)
   
Total completed homes
 
 2,707
 
 2,690
 
1%
 
Homes under construction (excluding speculative homes) as of September 30, 2017 increased 9% compared to September 30, 2016, consistent with our homes in backlog, which were up 4% compared to September 30, 2016.  Speculative homes under construction as of September 30, 2017 increased 13% from the prior year period, resulting primarily from our strategy to maintain a supply of speculative homes in each community.

Financial Services

In the 2017 third quarter our financial services segment reported pretax income of $7.3 million compared to $9.8 million in the year earlier period.  The decrease was driven primarily by a decrease in title services income and higher personnel related costs.

The following table details information regarding loan originations and related credit statistics for our mortgage financing operations:
 
           
Three Months Ended
 September 30,
  
Nine Months Ended
 September 30,
           
2017
  
2016
  
2017
  
2016
           
(Dollars in thousands)
Total Originations:
 
              
 
Loans
  
 1,796
 
 1,779
 
 4,916
 
 5,026
 
Principal
 
 $569,816
 
 $546,408
 
 $1,559,731
 
 $1,567,455
 
Capture Rate
 
59%
  
54%
  
54%
  
57%
                         
Loans Sold to Third Parties:
 
              
 
Loans
 
 1,773
 
 1,813
 
 5,218
 
 5,434
 
Principal
  
 $564,251
 
 $562,962
 
 $1,657,642
 
 $1,713,306
                         
Mortgage Loan Origination Product Mix:
 
              
 
FHA loans
 
14%
  
15%
  
15%
  
15%
 
Other government loans (VA & USDA)
 
10%
  
10%
  
10%
  
11%
   
Total government loans
 
24%
  
25%
  
25%
  
26%
 
Conforming loans
 
72%
  
71%
  
71%
  
70%
 
Jumbo loans
  
4%
  
4%
  
4%
  
4%
           
100%
  
100%
  
100%
  
100%
Loan Type:
 
              
 
Fixed
 
96%
  
98%
  
96%
  
97%
 
ARM
 
4%
  
2%
  
4%
  
3%
Credit Quality:
 
              
 
Avg. FICO score
 
741
  
737
  
740
  
738
Other Data:m
 
              
 
Avg. combined LTV ratio
 
81%
  
83%
  
82%
  
83%
 
Full documentation loans
 
100%
  
100%
  
100%
  
100%
 

Income Taxes

Our 2017 third quarter provision for income taxes of $52.8 million primarily relates to our $146.2 million of pretax income.  As of September 30, 2017, we had a $309.2 million deferred tax asset which was
 
partially offset by a valuation allowance of $1.9 million related to state net operating loss carryforwards that are limited by shorter carryforward periods.  As of such date, $96.0 million of our deferred tax asset related to net operating loss carryforwards is subject to the Section 382 gross annual deduction limitation of $15.6 million for both federal and state purposes.  Additionally, $16.1 million of our state deferred tax asset related to net operating losses is subject to 382 limitations resulting from our October 1, 2015 merger with Ryland, and $5.0 million related to state net operating loss carryforwards that are not limited by Section 382.  The remaining deferred tax asset balance of $192.1 million represented deductible timing differences, primarily related to inventory impairments and financial accruals, which have no expiration date.  

Liquidity and Capital Resources

Our principal uses of cash over the last several years have been for:

·    land acquisition
·    homebuilder acquisitions
·    investments in joint ventures
·    construction and development
·    operating expenses
·    principal and interest payments on debt
·    cash collateralization
·    stock repurchases
·    the payment of dividends

Cash requirements over the last several years have been met by:

·    internally generated funds
·    bank revolving credit and term loans
·    land option contracts and seller notes
·    sales of our equity
·    note offerings
·    joint venture financings
·    assessment district bond financings
·    letters of credit and surety bonds
·    mortgage credit facilities
 

For the nine months ended September 30, 2017, cash used in operating activities was $123.5 million as compared to $167.7 million of cash provided by operating activities in the year earlier period.  The change in operating activities cash flow during 2017 as compared to the prior year period was driven primarily by a 10% increase in homes under construction as of September 30, 2017 and a $61.0 million increase in cash land purchase and development costs, partially offset by a 1% increase in homebuilding revenues.  As of September 30, 2017, our homebuilding cash balance was $112.9 million, including $29.6 million of restricted cash.

Revolving Credit Facility. As of September 30, 2017, we were party to a $750 million unsecured revolving credit facility, $350 million of which is available for letters of credit, which matures in October 2019.  The facility has an accordion feature under which the Company may increase the total commitment up to a maximum aggregate amount of $1.2 billion, subject to certain conditions, including the availability of additional bank commitments.  Interest rates, as defined in the credit agreement, approximate (i) LIBOR (approximately 1.24% at September 30, 2017) plus 1.75%, or (ii) Prime (4.25% at September 30, 2017) plus 0.75%. 

In addition to customary representations and warranties, the facility contains financial and other covenants, including a minimum tangible net worth requirement of $1.65 billion (which amount is subject to increase over time based on subsequent earnings and proceeds from equity offerings), a net homebuilding leverage covenant that prohibits the leverage ratio (as defined therein) from exceeding 2.00 to 1.00 and a land covenant that limits land not under development to an amount not to exceed tangible net worth. The Company is also required to maintain either (a) a minimum liquidity level (unrestricted cash in excess of interest incurred for the previous four quarters) or (b) a minimum interest coverage ratio (EBITDA to interest expense, as defined therein) of at least 1.25 to 1.00.  The revolving facility also limits, among other things, the Company's investments in joint ventures and the amount of the Company's common stock that the Company can repurchase.  On September 30, 2017, we had $295.6 million outstanding under the facility and the Company had outstanding letters of credit issued under the facility totaling $119.2 million, leaving $335.2 million available under the facility to be drawn.
 
 
Our covenant compliance for the revolving facility is set forth in the table below:
Covenant and Other Requirement
  
Actual at
September 30, 2017
  
Covenant
Requirements at
September 30, 2017
    (Dollars in millions)
           
Consolidated Tangible Net Worth (1)
   $3,344.0   ≥ $2,070.8
Leverage Ratio:
  
 
 
 
Net Homebuilding Debt to Adjusted Consolidated Tangible Net Worth Ratio (2)
   1.14   ≤ 2.00
Liquidity or Interest Coverage Ratio (3):          
  Liquidity   $57.2   ≥ $215.0
  EBITDA (as defined in the Revolving Facility) to Consolidated Interest Incurred (4)   3.10   ≥ 1.25
Investments in Homebuilding Joint Ventures or Consolidated Homebuilding Non-Guarantor Entities (5)   $954.9   ≤ $1,250.4
__________________
(1)
The minimum covenant requirement amount is subject to increase over time based on subsequent earnings (without deductions for losses) and proceeds from equity offerings.
(2)
Net Homebuilding Debt represents Consolidated Homebuilding Debt reduced for certain cash balances in excess of $5 million.
(3)
Under the liquidity and interest coverage covenant, we are required to either (i) maintain an unrestricted cash balance in excess of our consolidated interest incurred for the previous four fiscal quarters or (ii) satisfy a minimum interest coverage ratio.  At September 30, 2017, we met the condition described in clause (ii).
(4)
Consolidated Interest Incurred excludes noncash interest expense.
(5)
Net investments in unconsolidated homebuilding joint ventures or consolidated homebuilding non-guarantor entities must not exceed 35% of consolidated tangible net worth plus $80 million. 
 
Letter of Credit Facilities.  As of September 30, 2017, in addition to our $350 million letter of credit sublimit under our revolving credit facility, we were party to four committed homebuilding letter of credit facilities totaling $48.0 million, of which $22.4 million was outstanding.  These facilities require cash collateralization and have maturity dates ranging from October 2018 to August 2020.  As of September 30, 2017, these facilities were secured by cash collateral deposits of $22.8 million.  Upon maturity, we may renew or enter into new letter of credit facilities with the same or other financial institutions.
Senior and Convertible Senior Notes.  As of September 30, 2017, the principal amount outstanding on our senior and convertible senior notes payable consisted of the following:
 
     
September 30, 2017
     
(Dollars in thousands)
   
  
    
8.375% Senior Notes due May 2018
 
$
 575,000
1.625% Convertible Senior Notes due May 2018
 
  
 224,999
0.25% Convertible Senior Notes due June 2019
 
  
 267,500
6.625% Senior Notes due May 2020
 
  
 300,000
8.375% Senior Notes due January 2021
 
  
 400,000
6.25% Senior Notes due December 2021
 
  
 300,000
5.375% Senior Notes due October 2022
 
  
 250,000
5.875% Senior Notes due November 2024
 
  
 425,000
5.25% Senior Notes due June 2026
 
  
 400,000
5.00% Senior Notes due June 2027
 
  
 350,000
     
$
 3,492,499
 
As required by the applicable note indentures, certain Company subsidiaries guarantee the Company's obligations under the notes.  The guarantees are unsecured obligations of each subsidiary, ranking equal in right of payment with all such subsidiary's existing and future unsecured and unsubordinated indebtedness. Interest on each series of notes is payable semi-annually.  Each of the senior notes rank equally with all of the Company's other unsecured and unsubordinated indebtedness.
 
The Company's notes contain various restrictive covenants, including, but not limited to, a limitation on secured indebtedness and a restriction on sale leaseback transactions.  As of September 30, 2017, we were in compliance with the covenants required by our senior notes.   
 
The Company's 1.625% Convertible Senior Notes due 2018 are senior unsecured obligations of the
 
Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The 1.625% Convertible Notes will mature on May 15, 2018, unless earlier converted or repurchased. The holders may convert their 1.625% Convertible Notes at any time into shares of the Company's common stock at a conversion rate of 31.8845 shares of common stock per $1,000 of their principal amount (which is equal to a conversion price of approximately $31.36 per share), subject to adjustment. The Company may not redeem the 1.625% Convertible Notes prior to the stated maturity date.
 
The Company's 0.25% Convertible Senior Notes due 2019 are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The 0.25% Convertible Notes will mature on June 1, 2019, unless earlier converted, redeemed or repurchased. The holders may convert their 0.25% Convertible Notes at any time into shares of the Company's common stock at a conversion rate of 13.6157 shares of common stock per $1,000 of their principal amount (which is equal to a conversion price of approximately $73.44 per share), subject to adjustment. The Company may not redeem the 0.25% Convertible Notes prior to June 6, 2017. On or after that date, the Company may redeem for cash any or all of the 0.25% Convertible Notes, at its option, if the closing sale price of its common stock for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending within 5 trading days immediately preceding the date on which it provides notice of redemption, including the last trading day of such 30 day trading period, exceeds 130 percent of the applicable conversion price on each applicable trading day. The redemption price will equal 100 percent of the principal amount of the 0.25% Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
 
In April 2017, the Company issued $225 million in aggregate principal amount of senior notes, consisting of $125 million aggregate principal amount of additional notes to the Company's existing 5.875% Senior Notes due 2024 and $100 million aggregate principal amount of additional notes to the Company's existing 5.25% Senior Notes due 2026, each of which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis.  A portion of the net proceeds of this issuance were used to repay the remaining $230 million principal balance of our 8.4% Senior Notes upon maturity in May 2017.
 
During June 2017, the Company issued $350 million in aggregate principal amount of 5.00% Senior Notes due 2027, which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis.  A portion of the net proceeds of this issuance were used to repurchase and repay the aggregate principal balance of our 1.25% Convertible Senior Notes due August 2032.
 
During August 2017, the Company redeemed for cash, at a redemption price equal to 100% of the principal amount, all of the remaining $253 million of our 1.25% Convertible Senior Notes which were scheduled to mature on August 1, 2032.
 
Potential Future Transactions.  In the future, we may, from time to time, undertake negotiated or open market purchases of, or tender offers for, our notes prior to maturity when they can be purchased at prices that we believe are attractive.  We may also, from time to time, engage in exchange transactions (including debt for equity and debt for debt transactions) for all or part of our notes.  Such transactions, if any, will depend on market conditions, our liquidity requirements, contractual restrictions and other factors.
 
Joint Venture Loans.  As described more particularly under the heading "Off-Balance Sheet Arrangements", our land development and homebuilding joint ventures have historically obtained secured acquisition, development and/or construction financing.  This financing is designed to reduce the use of funds from our corporate financing sources.  As of September 30, 2017, we had no joint ventures with project specific debt outstanding.  At September 30, 2017, we had no joint venture surety bonds outstanding subject to indemnity arrangements by us.
 
Secured Project Debt and Other Notes Payable.  At September 30, 2017, we had $43.2 million outstanding in secured project debt and other notes
 
payable.  Our secured project debt and other notes payable consist of seller non-recourse financing and community development district and similar assessment district bond financings used to finance land acquisition, development and infrastructure costs for which we are responsible. 
 
Mortgage Credit Facility.  At September 30, 2017, we had $152.8 million outstanding under our mortgage financing subsidiary's mortgage credit facility.  This mortgage credit facility consisted of a $300 million uncommitted repurchase facility, maturing in June 2018.  This facility requires our mortgage financing subsidiary to maintain cash collateral accounts, which totaled $3.0 million as of September 30, 2017, and also contains financial covenants which require CalAtlantic Mortgage to, among other things, maintain a minimum level of tangible net worth, not to exceed a debt to tangible net worth ratio, maintain a minimum liquidity amount based on a measure of total assets (inclusive of the cash collateral requirement), and satisfy pretax income (loss) requirements.  As of September 30, 2017, CalAtlantic Mortgage was in compliance with the financial and other covenants contained in this facility.
 
Surety Bonds.  Surety bonds serve as a source of liquidity for the Company because they are used in lieu of cash deposits and letters of credit that would otherwise be required by governmental entities and other third parties to ensure our completion of the infrastructure of our communities and other performance obligations.  At September 30, 2017, we had approximately $1,002.2 million in surety bonds outstanding (exclusive of surety bonds related to our joint ventures), with respect to which we had an estimated $506.1 million remaining in cost to complete.
 
Availability of Additional Liquidity.  Over the last several years we have focused on acquiring and developing strategically located and appropriately priced land and on designing and building highly desirable, amenity-rich communities and homes that appeal to the home buying segments we target.  In the near term, so long as we are able to continue to find appropriately priced land opportunities, we plan to continue with this strategy.  To that end, we may utilize cash generated from our operating activities, our $750 million revolving credit facility (including through the exercise of the accordion feature which would allow the facility be increased up to $1.2 billion, subject to the availability of additional capital commitments and certain other conditions) and the debt and equity capital markets to finance these activities.
 
It is important to note, however, that the availability of additional capital, whether from private capital sources (including banks) or the public capital markets, fluctuates as market conditions change.  There may be times when the private capital markets and the public debt or equity markets lack sufficient liquidity or when our securities cannot be sold at attractive prices, in which case we would not be able to access capital from these sources.  A weakening of our financial condition, including in particular, a material increase in our leverage or a decrease in our profitability or cash flows, could adversely affect our ability to obtain necessary funds, result in a credit rating downgrade or change in outlook, or otherwise increase our cost of borrowing.
 
Dividends.  For the three months ended September 30, 2017 and 2016, we paid a dividend of $0.04 per share on September 30, 2017 and 2016, respectively.  On October 30, 2017 our Board of Directors declared a dividend of $0.04 per share to be paid on December 30, 2017 to holders of record on December 15, 2017.
 
Stock Repurchases.  On July 27, 2016, our Board of Directors authorized a new $500 million stock repurchase plan.  During the nine months ended September 30, 2017, we repurchased 4.4 million shares of our common stock, and as of September 30, 2017, we had remaining authorization to repurchase $217.4 million of our common stock.
 
Leverage.  Our homebuilding debt to total book capitalization as of September 30, 2017 was 46.9%.  In addition, our homebuilding debt to adjusted homebuilding EBITDA for the trailing twelve month periods ended September 30, 2017 and 2016 was 4.2x and 3.7x, respectively, and our adjusted net homebuilding debt to adjusted homebuilding EBITDA was 4.0x and 3.4x, respectively (please see page 29 for the reconciliation of net income, calculated and presented in accordance with GAAP, to adjusted homebuilding
 
EBITDA).  We believe that these adjusted ratios are useful to investors as additional measures of our ability to service debt.

Off-Balance Sheet Arrangements

Land Purchase and Option Agreements

We are subject to customary obligations associated with entering into contracts for the purchase of land and improved homesites. These purchase contracts typically require us to provide a cash deposit or deliver a letter of credit in favor of the seller, and our purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements.  We also utilize option contracts with land sellers as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the near-term use of funds from our corporate financing sources.  Option contracts generally require us to provide a non-refundable deposit for the right to acquire lots over a specified period of time at predetermined prices.  We generally have the right at our discretion to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit or by repaying amounts drawn under a letter of credit provided by us with no further financial responsibility to the land seller, although in certain instances, the land seller has the right to compel us to purchase a specified number of lots at predetermined prices.

In some instances, we may also expend funds for due diligence, development and construction activities with respect to our land purchase and option contracts prior to purchase, which we would have to write off should we not purchase the land.  At September 30, 2017, we had non-refundable cash deposits outstanding of approximately $80.3 million and capitalized pre-acquisition and other development and construction costs of approximately $31.3 million relating to land purchase and option contracts having a total remaining purchase price of approximately $995.1 million.

Our utilization of option contracts is dependent on, among other things, the availability of land sellers willing to enter into option takedown arrangements, the availability of capital to financial intermediaries, general housing market conditions, and geographic preferences.  Options may be more difficult to procure from land sellers in strong housing markets and are more prevalent in certain geographic regions.

Land Development and Homebuilding Joint Ventures

Historically, we have entered into land development and homebuilding joint ventures from time to time as a means of:

·    accessing larger or highly desirable lot positions
·    stablishing strategic alliances
·    leveraging our capital base
·    expanding our market opportunities
·    managing the financial and market risk associated with land holdings

These joint ventures have historically obtained secured acquisition, development and/or construction financing designed to reduce the use of funds from our corporate financing sources.  As of September 30, 2017, we held ownership interests in 28 homebuilding and land development joint ventures, of which 14 were active and 14 were inactive or winding down.  As of September 30, 2017, we had no unconsolidated joint ventures with project specific debt outstanding.  At September 30, 2017, we had no joint venture surety bonds outstanding subject to indemnity arrangements by us.

Critical Accounting Policies

The preparation of our condensed consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of our assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities.  On an ongoing basis, we evaluate our estimates and judgments, including those that impact our most critical accounting policies.  We base our estimates and judgments on historical experience and various other assumptions that are believed to be reasonable under the circumstances.  Actual results may differ from these estimates under different assumptions or conditions.  We believe that the accounting policies related to the following accounts or activities are those that are most critical to the portrayal of our financial condition and results of operations and require the more significant judgments and estimates:
 
·
Segment reporting;
·
Inventories and impairments;
·
Stock-based compensation;
·
Homebuilding revenue and cost of sales;
·
Variable interest entities;
·
Unconsolidated homebuilding and land development joint ventures;
·
Warranty accruals;
·
Insurance and litigation accruals;
·
Income taxes; and
·
Goodwill.

There have been no significant changes to our critical accounting policies from those described in Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of our Annual Report on Form 10-K for the year ended December 31, 2016. 

ITEM 3.       QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to market risks related to fluctuations in interest rates on our rate-locked loan commitments, mortgage loans held for sale and outstanding variable rate debt.  Other than forward sales commitments in connection with preselling loans to third party investors and forward sale commitments of mortgage-backed securities entered into by our financial services subsidiary for the purpose of hedging interest rate risk as described below, we did not utilize swaps, forward or option contracts on interest rates or commodities, or other types of derivative financial instruments as of or during the nine months ended September 30, 2017.  We have not entered into and currently do not hold derivatives for trading or speculative purposes.
 
As part of our ongoing operations, we provide mortgage loans to our homebuyers through our mortgage financing subsidiary, CalAtlantic Mortgage.  For a portion of its loan originations, CalAtlantic Mortgage manages the interest rate risk associated with making loan commitments to our customers and holding loans for sale by preselling loans.  Preselling loans consists of obtaining commitments (subject to certain conditions) from third party investors to purchase the mortgage loans while concurrently extending interest rate locks to loan applicants. Before completing the sale of mortgage loans to these investors, CalAtlantic Mortgage finances these loans under its mortgage credit facility for a short period of time (typically for 30 to 45 days), while the investors complete their administrative review of the applicable loan documents. While preselling these loans reduces risk, we remain subject to risk relating to investor non-performance, particularly during periods of significant market turmoil.  As of September 30, 2017, CalAtlantic Mortgage had approximately $163.4 million in closed mortgage loans held for sale and $33.3 million of mortgage loans in process that we were committed to sell to investors subject to our funding of the loans and the investors' completion of their administrative review of the applicable loan documents.

CalAtlantic Mortgage also originates a portion of its mortgage loans on a non-presold basis.  When originating mortgage loans on a non-presold basis, CalAtlantic Mortgage locks interest rates with its
 
customers and funds loans prior to obtaining purchase commitments from third party investors, thereby creating interest rate risk.  To hedge this interest rate risk, CalAtlantic Mortgage enters into forward sale commitments of mortgage-backed securities.  Mortgage loans originated in this manner are typically held by CalAtlantic Mortgage and financed under its mortgage credit facility for a short period of time (typically for 30 to 45 days) before the loans are sold to third party investors.  CalAtlantic Mortgage utilizes third party hedging software to assist with the execution of its hedging strategy for loans originated on a non-presold basis.  While this hedging strategy is designed to assist CalAtlantic Mortgage in mitigating risk associated with originating mortgage loans on a non-presold basis, these instruments involve elements of market risk related to fluctuations in interest rates that could result in losses on loans originated in this manner.  As of September 30, 2017, CalAtlantic Mortgage had approximately $258.3 million of mortgage loans in process that were or are expected to be originated on a non-presold basis, all of which were hedged by forward sale commitments of mortgage-backed securities prior to entering into loan sale transactions with third party investors.

ITEM 4.        CONTROLS AND PROCEDURES

Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

As of the end of the period covered by this quarterly report on Form 10-Q, we carried out an evaluation under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as such term is defined in Exchange Act Rules 13a-15(e) and 15d-15(e), including controls and procedures to timely alert management to material information relating to CalAtlantic Group, Inc. and its subsidiaries required to be included in our periodic SEC filings.  Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report.

Change in Internal Control Over Financial Reporting

There was no change in our internal control over financial reporting that occurred during our most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

FORWARD-LOOKING STATEMENTS

This report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  In addition, other statements we may make from time to time, such as press releases, oral statements made by Company officials and other reports we file with the Securities and Exchange Commission, may also contain such forward-looking statements.  These statements, which represent our expectations or beliefs regarding future events, may include, but are not limited to, statements regarding:

·
our strategy;
·
housing market and economic conditions and trends in the geographic markets in which we operate;
·
our land acquisition strategy and our sources of funds relating thereto;
·
litigation outcomes and related costs;
·
the outcome and impact relating to the remediation of an issue relating to certain fire rated I-joist products that we purchased from a third party manufacturer;
·
plans to repurchase our common stock, purchase notes prior to maturity and engage in debt exchange transactions;
·
the impact of recent accounting standards;
·
amounts remaining to complete relating to existing surety bonds; and
·
our interest rate hedging and derivatives strategy.

Forward-looking statements are based on our current expectations or beliefs regarding future events or circumstances, and you should not place undue reliance on these statements.  Such statements involve known and unknown risks, uncertainties, assumptions and other factors—many of which are out of our control and difficult to forecast—that may cause actual results to differ materially from those that may be described or implied.  Such factors include, but are not limited to, the following:

·
adverse economic developments that negatively impact the demand for homes;
·
the market value and availability of land;
·
the willingness of customers to purchase homes at times when mortgage-financing costs are high or when credit is difficult to obtain;
·
competition with other homebuilders as well as competition from the sellers of existing homes and rental properties;
·
the cost and availability of labor and materials;
·
our ability to obtain suitable bonding for development of our communities;
·
high cancellation rates;
·
the risk of our longer term acquisition strategy;
·
adverse weather conditions, natural disasters and climate change;
·
product liability and warranty claims;
·
the inherent danger of our building sites;
·
our reliance on subcontractors and their ability to construct our homes;
·
risks relating to our mortgage financing activities, including our obligation to repurchase loans we previously sold in the secondary market;
·
our dependence on key employees;
·
risks relating to acquisitions, including integration risks;
·
our failure to maintain the security of our electronic and other confidential information;
·
the adverse effects of negative media publicity;
·
government regulation, including environmental, building, energy efficiency, climate change, worker health, safety, mortgage lending, title insurance, zoning and land use regulation;
·
increased regulation of the mortgage industry;
·
changes to tax laws that make homeownership more expensive;
·
the impact of "slow growth", "no growth" and similar initiatives;
·
our ability to obtain additional capital when needed and at an acceptable cost;
·
the amount of, and our ability to repay, renew or extend, our outstanding debt and its impact on our operations and our ability to obtain financing;
·
our ability to generate cash, including to service our debt;
·
risks relating to our unconsolidated joint ventures, including our ability and the ability of our partners to contribute funds to our joint ventures when needed or contractually agreed to, entitlement and development risks for the land owned by our joint ventures, the availability of financing to the joint ventures, our completion obligations to the joint ventures, the illiquidity of our joint venture investments, partner disputes, and risks relating to our determinations concerning the consolidation or non-consolidation of our joint venture investments;
·
the influence of our principal stockholder;
·
the provisions of our charter, bylaws, stockholders' rights agreements and debt covenants that could prevent a third party from acquiring us or limit the price investors might be willing to pay for shares of our common stock; and
·
other risks discussed in this report and our other filings with the Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2016.
 
Except as required by law, we assume no, and hereby disclaim any, obligation to update any of the foregoing or any other forward-looking statements.  We nonetheless reserve the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this report.  No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.

PART II.  OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

Various claims and actions that we consider normal to our business have been asserted and are pending against us.  We do not believe that any of such claims and actions are material to our financial statements.

ITEM 1A.     RISK FACTORS

Except as described below, there has been no material change in our risk factors as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2016.  For a detailed description of risk factors, refer to Item 1A, "Risk Factors", of our Annual Report on Form 10-K for the year ended December 31, 2016.

The proposed merger between CalAtlantic and Lennar may present certain risks to CalAtlantic's business and operations.

On October 29, 2017, CalAtlantic, Lennar Corporation ("Lennar") and Cheetah Cub Group Corp., a wholly owned subsidiary of Lennar ("Merger Sub"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which CalAtlantic, subject to the terms and conditions set forth in the Merger Agreement, would merge with and into Merger Sub (the "Merger").  At the effective time of the Merger, each share of common stock of CalAtlantic issued and outstanding will be converted into and become the right to receive 0.885 shares (the "Exchange Ratio") of Class A common stock of Lennar ("Lennar stock"). Holders of CalAtlantic common stock will also have the option to elect to exchange all or a portion of their shares for cash in the amount of $48.26 per share, subject to proration to the extent cash to be paid to all such holders electing to receive cash consideration would exceed $1.16 billion.  At the effective time of the Merger, (i) CalAtlantic's options, restricted stock units and stock appreciation rights will be converted into the option to acquire or right to receive in lieu of CalAtlantic common stock, the number of shares of Lennar stock, as determined in accordance with the Exchange Ratio, and (ii) CalAtlantic's convertible notes will remain outstanding and become convertible in lieu of CalAtlantic common stock, the number of shares of Lennar stock, as determined in accordance with the Exchange Ratio, unless the indenture relating to a particular issue of convertible debt provides otherwise, in which case the holder of convertible debt of that issue will receive what is provided in the indenture.  The consummation of the Merger is subject to the satisfaction or waiver of certain customary conditions, including the approval of the Merger by CalAtlantic's stockholders and the stockholders of Lennar, and the Merger cannot be completed until all of the conditions to closing are satisfied or waived.  The obligation of each of the parties to the Merger Agreement to consummate the Merger is conditioned, among other things, on the other party's representations and warranties being true and correct (subject to certain materiality exceptions) and the performance in all material respects by the other party of its obligations imposed under the Merger Agreement.  If the Merger is not completed for any reason, the holders of our common stock will not receive any payment for their shares of our common stock in connection with the proposed Merger. Instead, CalAtlantic will remain an independent public company and holders of our common stock will continue to own their shares of our common stock.

The Merger may present certain risks to CalAtlantic's business and operations prior to the closing of the Merger, including, among other things, risks that:

·
we may lose management personnel and other key employees and be unable to attract and retain such personnel and employees;
·
uncertainty regarding the Merger could cause customers, suppliers and others who have or may have a business relationship with CalAtlantic to seek to change their business relationship or proposed business relationship;
 
·
the Merger Agreement contains restrictions on CalAtlantic's business and operations and may prevent CalAtlantic from pursuing otherwise attractive business opportunities and making other changes to its business;
·
management's attention and other Company resources may be focused on the Merger instead of on day-to-day management activities, including pursuing other opportunities beneficial to CalAtlantic;
·
we may incur substantial unexpected transaction fees and Merger-related costs;
·
litigation that could be instituted against the Company and its officers and directors relating to the Merger, which could be costly to defend and lead to liabilities;
·
the Merger may not be completed, which may have an adverse effect on our stock price and our future business and financial results, and we may incur substantial costs if the Merger Agreement is terminated under certain conditions; and
·
the Merger Agreement contains provisions that could discourage a potential competing acquirer of CalAtlantic.

In addition, certain risks may arise from entry into the Merger Agreement, including, among other matters:

·
any delay in completing the Merger may reduce or eliminate the benefits expected to be achieved thereunder;
·
the Exchange Ratio and the cash consideration are fixed and will not be adjusted in the event of any change in the price of CalAtlantic's common stock or Lennar stock;
·
Lennar may be unable to successfully integrate our business and workforce with those of Lennar after the Merger and many of the anticipated benefits of combining CalAtlantic and Lennar may not be realized;
·
completion of the Merger may trigger assignment, change of control or other provisions in certain commercial contracts to which CalAtlantic is a party, such that counterparties may potentially have the right to terminate such contracts or give consent to the Merger;
·
holders of CalAtlantic common stock will have a reduced ownership and voting interest in the combined company after the Merger and will exercise less influence over management;
·
after the Merger, Lennar may lose management personnel and other key employees and be unable to attract and retain such personnel and employees; and
·
launching branding or rebranding initiatives may involve substantial costs and may not be favorably received by customers.
 
ITEM 2.     UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 
During the three months ended September 30, 2017, we did not repurchase any shares under our repurchase program.

ITEM 3.     DEFAULTS UPON SENIOR SECURITIES
 
Not applicable.

ITEM 4.     MINE SAFETY DISCLOSURES
 
Not applicable.

ITEM 5.     OTHER INFORMATION
 
Not applicable.

ITEM 6.     EXHIBITS
 

 
 
 
31.1
Certification of the CEO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2
Certification of the CFO pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101
The following materials from CalAtlantic Group, Inc.'s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, formatted in eXtensible Business Reporting Language (XBRL): (i) Unaudited Condensed Consolidated Statements of Operations, (ii) Unaudited Condensed Consolidated Statements of Comprehensive Income, (iii) Unaudited Condensed Consolidated Balance Sheets, (iv) Unaudited Condensed Consolidated Statements of Cash Flows, and (v) Notes to Unaudited Condensed Consolidated Financial Statements.
__________________
(*)
Previously filed.
(+)
Management contract, compensation plan or arrangement.

 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
                                                               CALATLANTIC GROUP, INC.
                                                               (Registrant)
 
 
Dated:  November 9, 2017
By:  
/s/ Larry T. Nicholson
   
Larry T. Nicholson
President and Chief Executive Officer
(Principal Executive Officer)
     
     
Dated:  November 9, 2017
By:  
/s/ Jeff J. McCall
   
Jeff J. McCall
Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)

 
 
 
 
 
 
 
 
 
46
 
 EX-31.1 2 ex311.htm SECTION 302 CEO CERTIFICATION
Exhibit 31.1

Certification:

I, Larry T. Nicholson, certify that:

1.
I have reviewed this Quarterly Report on Form 10-Q of CalAtlantic Group, Inc.;

2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 9, 2017
/s/ Larry T. Nicholson
Larry T. Nicholson
President and Chief Executive Officer

EX-31.2 3 ex312.htm SECTION 302 CFO CERTIFICATION
Exhibit 31.2
Certification:

I, Jeff J. McCall, certify that:

1.
I have reviewed this Quarterly Report on Form 10-Q of CalAtlantic Group, Inc.;

2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 9, 2017
/s/ Jeff J. McCall
Jeff J. McCall
Executive Vice President and Chief Financial Officer
 
 EX-32.1 4 ex321.htm SECTION 906 CEO AND CFO CERTIFICATIONS
Exhibit 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


Each of the undersigned hereby certifies, in his capacity as an officer of CalAtlantic Group, Inc., a Delaware corporation (the “Company”), for purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

•    
the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and

•    
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 
Dated: November 9, 2017
 
/s/ Larry T. Nicholson
Larry T. Nicholson
President and Chief Executive Officer
 
 
/s/ Jeff J. McCall
Jeff J. McCall
Executive Vice President and Chief Financial Officer

EX-101.INS 5 caa-20170930.xml XBRL INSTANCE DOCUMENT 24529000 0.885 19 1160000000 0 500000 31300000 22800000 1.3 5 1000 1000 9000000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.</div> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Mortgage Credit Facility</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$152.8</div> million outstanding under our mortgage financing subsidiary&#x2019;s mortgage credit facility. This mortgage credit facility consisted of a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$300</div> million uncommitted repurchase facility, maturing in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2018. </div>This facility requires our mortgage financing subsidiary to maintain cash collateral accounts, which totaled <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.0</div> million as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>and also contains financial covenants which require CalAtlantic Mortgage to, among other things, maintain a minimum level of tangible net worth, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to exceed a debt to tangible net worth ratio, maintain a minimum liquidity amount based on a measure of total assets (inclusive of the cash collateral requirement), and satisfy pretax income (loss) requirements. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>CalAtlantic Mortgage was in compliance with the financial and other covenants contained in this facility.</div></div></div> 62765000 -62765000 95380000 -95380000 178762000 -178762000 229414000 -229414000 7278000 7278000 9807000 9807000 23475000 23475000 24889000 24889000 300000 100000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.&nbsp; &nbsp; &nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Capitalization of Interest</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">We follow the practice of capitalizing interest to inventories owned during the period of development and to investments in unconsolidated homebuilding and land development joint ventures in accordance with ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">835,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Interest</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">835&quot;</div>). Homebuilding interest capitalized as a cost of inventories owned is included in cost of sales as related units or lots are sold. Interest capitalized to investments in unconsolidated homebuilding and land development joint ventures is included as a reduction of income from unconsolidated joint ventures when the related homes or lots are sold to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties. Interest capitalized to investments in unconsolidated land development joint ventures is transferred to inventories owned if the underlying lots are purchased by us. To the extent our debt exceeds our qualified assets as defined in ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">835,</div> we expense a portion of the interest incurred by us. Qualified assets represent communities that are actively selling or under development as well as investments in homebuilding and land development unconsolidated joint ventures. During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> our qualified assets exceeded our debt, and as a result, all of our homebuilding interest incurred during these periods was capitalized in accordance with ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">835.</div> </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The following is a summary of homebuilding interest capitalized to inventories owned and investments in unconsolidated joint ventures, amortized to cost of sales and income (loss) from unconsolidated joint ventures and expensed as interest expense, for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016:</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Total interest incurred (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52,972</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56,872</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156,845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175,207</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Less: Interest capitalized to inventories owned (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,158</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(55,761</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(154,371</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(172,170</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Less: Interest capitalized to investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(814</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,111</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,474</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,037</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest expense</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest previously capitalized to inventories owned, included in cost of home sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,912</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44,636</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">140,687</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,367</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest previously capitalized to inventories owned, included in cost of land sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,596</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; TEXT-INDENT: -9pt">Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">613</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">613</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized in ending inventories owned (2)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">379,884</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">362,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">379,884</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">362,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized as a percentage of inventories owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized in ending investments in unconsolidated joint ventures (2)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,324</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,224</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,324</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,224</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized as a percentage of investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 3pt; FONT-FAMILY: 41; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <hr align="left" style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 10%; BORDER-BOTTOM: medium none; COLOR: #000000; MARGIN: 3pt auto 3pt 0px; BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" /> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)</div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">Total interest incurred and interest capitalized to in<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">ventories owned during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2016 </div>includes a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$9</div> million increase related to the valuation of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.625%</div> convertible senior notes that was completed during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> quarter. </div></div></td> </tr> </table> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>)</div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>in connection with lot purchases from our joint ventures, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.5</div> million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.</div></div></td> </tr> </table></div> 25895000 25627000 74492000 53177000 30094000 31303000 85695000 84125000 31648000 39312000 100757000 113145000 51257000 104697000 147869000 230231000 138894000 200939000 408813000 480678000 111118000 46194000 44347000 -62765000 138894000 162460000 57847000 76012000 -95380000 200939000 333519000 128464000 125592000 -178762000 408813000 387096000 155777000 167219000 -229414000 480678000 790486000 928157000 966286000 939488000 3624417000 327421000 585938000 710509000 680241000 2304109000 56722000 29192000 450620000 366095000 16480000 25625000 233800000 233500000 74078000 23759000 -97837000 -49757000 95992000 -46235000 2121692000 398530000 -2520222000 2045773000 334926000 -2380699000 0.055 0.056 0.041 0.023 5324000 3224000 814000 1111000 2474000 3037000 5000 613000 13000 613000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 95%; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">North</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southeast</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southwest</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">West</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 35%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Land and land under development (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136,182</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">993,953</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">420,686</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,335,910</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,886,731</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homes completed and under construction</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">790,486</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">928,157</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">966,286</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">939,488</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,624,417</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Model homes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,518</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112,197</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102,969</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,934</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">435,618</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total inventories owned</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">984,186</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,034,307</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,489,941</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,438,332</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,946,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 95%; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">North</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southeast</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southwest</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">West</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 35%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Land and land under development (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">445,245</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,177,646</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">594,585</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,410,264</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,627,740</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homes completed and under construction</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">327,421</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">585,938</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">710,509</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">680,241</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,304,109</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Model homes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79,306</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,968</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">116,575</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,094</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">506,943</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total inventories owned</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">851,972</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,896,552</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,421,669</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,268,599</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,438,792</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> 732400000 960800000 0.27 0.34 0.18 0.21 0.25 0.25 0.24 0.26 91944000 66267000 44285000 37100000 10559000 30953000 32596000 2718000 10694 13566 2131970000 -2131970000 1954418000 -1954418000 2 1.25 1650000000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.</div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Revolving Credit Facility and Letter of Credit Facilities </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 22.5pt; TEXT-INDENT: -22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.3pt">As of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we were party to a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$750</div> million unsecured revolving credit facility, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$350</div> million of which is available for letters of credit, which matures in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2019. </div>The facility has an accordion feature under which the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>increase the total commitment up to a maximum aggregate amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.2</div> billion, subject to certain conditions, including the availability of additional bank commitments. Interest rates, as defined in the credit agreement, approximate (i) LIBOR (approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.24%</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017) </div>plus <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.75%,</div> or (ii) Prime (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.25%</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017) </div>plus <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.75%.</div> </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.3pt">&nbsp;</div><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.3pt">In addition to customary representations and warranties, the facility contains financial and other covenants, including a minimum tangible net worth requirement of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.65</div> billion (which amount is subject to increase over time based on subsequent earnings and proceeds from equity offerings), a net homebuilding leverage covenant that prohibits the leverage ratio (as defined therein) from exceeding <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.00</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.00</div> and a land covenant that limits land <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> under development to an amount <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to exceed tangible net worth. The Company is also required to maintain either (a) a minimum liquidity level (unrestricted cash in excess of interest incurred for the previous <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> quarters) or (b) a minimum interest coverage ratio (EBITDA to interest expense, as defined therein) of at least <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.25</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.00.</div> We were in compliance with all of the <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">revolving facility covenants as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017. </div>The revolving facility also limits, among other things, the Company&#x2019;s investments in joint ventures and the amount of the Company&#x2019;s common stock that the Company can repurchase. </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$295.6</div> million outstanding under the facility and the Company had outstanding letters of credit issued under the facility totaling <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$119.2</div> million, leaving <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$335.2</div> million available under the facility to be drawn. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.3pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.3pt">As of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>in addition to our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$350</div> million letter of credit sublimit under our revolving facility, we were party to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> committed homebuilding letter of credit facilities totaling <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$48.0</div> million, of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$22.4</div> million was outstanding. These facilities require cash collateralization and have maturity dates ranging from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2018 </div>to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2020. </div>As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>these facilities were secured by cash collateral deposits of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$22.8</div> million. Upon maturity, we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>renew or enter into new letter of credit facilities with the same or other financial institutions.</div></div></div> 160068000 262058000 160068000 262058000 100000 300000 3800000 3600000 33300000 258300000 25510000 25510000 24924000 24924000 291600000 0.04 400000 294000 1104000 635000 80300000 901 879 14 14 0 28 0 1002200000 -5807000 1868000 -5807000 1868000 94641000 141524000 94641000 141524000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.</div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Recent Accounting Pronouncements</div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the Financial Accounting Standards Board (&quot;FASB&quot;) issued Accounting Standards Update (&quot;ASU&quot;) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Revenue from Contracts with Customers</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&quot;</div>), which supersedes existing accounting literature relating to how and when a company recognizes revenue. Under ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2015, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,</div> <div style="display: inline; font-style: italic;">Revenue from Contracts with Customers (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>): Deferral of the Effective Date</div>, which delayed the effective date of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year. As a result, for public companies, ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> will be effective for annual reporting periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017, </div>and is to be applied either with a full retrospective or modified retrospective approach. We expect to adopt the new standard under the modified retrospective approach. Although we are still in the process of evaluating our contracts, we do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> will have a material impact on the amount or timing of our homebuilding revenues. We are continuing to evaluate the impact the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have on other aspects of our business and on our consolidated financial statements and disclosures.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2016, </div>the FASB issued ASU <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01,</div> <div style="display: inline; font-style: italic;">Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01&quot;</div>), which modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> result in consolidation and are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for a new practicality exception. A practicality exception will apply to those equity investments that do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a readily determinable fair value and do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify for the practical expedient to estimate fair value under Accounting Standards Codification (&quot;ASC&quot;) Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">820,</div> <div style="display: inline; font-style: italic;">Fair Value Measurements</div>, and as such these investments <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be measured at cost. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01</div> is effective for annual periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017. </div>We are currently evaluating the impact adoption will have on our consolidated financial statements.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the FASB issued ASU <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div>&nbsp;<div style="display: inline; font-style: italic;">Leases</div>&nbsp;(&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02&quot;</div>), which provides guidance for accounting for leases. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> is effective for annual periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2018. </div>We are currently evaluating the impact adoption will have on our consolidated financial statements.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the FASB issued ASU <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">07,</div>&nbsp;<div style="display: inline; font-style: italic;">Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting</div>&nbsp;(&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">07&quot;</div>), which eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment. Our adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">07</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017 </div>did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have an effect on our consolidated financial statements.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Compensation &#x2014; Stock Compensation: Improvements to Employee Share-Based Payment Accounting</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&quot;</div>), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. In connection with our adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017, </div>the Company elected to apply the provisions of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> related to the income statement and statement of cash flows impact of income taxes on a prospective basis, and as such, prior periods have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> been adjusted. The Company made a policy election to continue to estimate forfeitures at the grant date of an award. The remaining updates required in connection with our adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a material effect on our consolidated financial statements.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Statement of Cash Flows (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230</div>): Classification of Certain Cash Receipts and Cash Payments</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15&quot;</div>), which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> is effective for annual periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017. </div>We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe that the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> will have a material effect on our consolidated financial statements.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Statement of Cash Flows (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230</div>): Restricted Cash</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18&quot;</div>), which provides guidance on the classification of restricted cash in the statement of cash flows. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> is effective for annual periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017. </div>We determined that upon adoption of this new standard, the Company will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer present the changes within restricted cash in the consolidated statements of cash flows. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2017, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Business Combinations: Clarifying the Definition of a Business</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01&quot;</div>), which clarifies the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01</div> is effective for annual periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017. </div>Once adopted, the Company will be required to analyze any future acquisitions to determine whether the transaction qualifies as a purchase of a business or an asset. Transaction costs associated with asset acquisitions will be capitalized, while transaction costs associated with a business combination will continue to be expensed as incurred. In addition, asset acquisitions will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be subject to a measurement period, as are business combinations. The adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have a future impact on our consolidated financial statements.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2017, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">04,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Intangibles - Goodwill and Other (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">350</div>): Simplifying the Accounting for Goodwill Impairment</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">04&quot;</div>), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit&#x2019;s carrying value exceeds its fair value, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to exceed the carrying amount of goodwill. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">04</div> is effective for annual periods and interim periods within those annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2019, </div>and early adoption is permitted. We elected to early adopt ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">04</div> for the reporting period beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017. </div>Our adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">04</div> did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a material effect on our consolidated financial statements.</div></div></div> 995100000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Total interest incurred (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52,972</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56,872</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156,845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175,207</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Less: Interest capitalized to inventories owned (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,158</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(55,761</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(154,371</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(172,170</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Less: Interest capitalized to investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(814</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,111</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,474</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,037</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest expense</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest previously capitalized to inventories owned, included in cost of home sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,912</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44,636</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">140,687</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,367</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest previously capitalized to inventories owned, included in cost of land sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,596</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; TEXT-INDENT: -9pt">Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">613</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">613</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized in ending inventories owned (2)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">379,884</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">362,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">379,884</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">362,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized as a percentage of inventories owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized in ending investments in unconsolidated joint ventures (2)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,324</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,224</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,324</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,224</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Interest capitalized as a percentage of investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">%</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">S</div><div style="display: inline; text-decoration: underline;">upplemental Guarantor </div><div style="display: inline; text-decoration: underline;">Information</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Certain of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100%</div> owned direct and indirect subsidiaries guarantee our outstanding senior n<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">otes payable (please see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div> &quot;Senior Notes Payable&quot;). Presented below are the condensed consolidated financial statements for our guarantor subsidiaries and non-guarantor subsidiaries. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt">CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 3pt; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">647,336</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">632,262</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236,245</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,515,843</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(528,858</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(505,367</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,483</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,212,708</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,478</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126,895</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">303,135</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,237</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(80,147</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(20,045</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(168,429</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">981</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">252</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,193</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,426</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(326</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,714</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(287</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,763</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,238</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,118</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,194</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44,347</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138,894</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,278</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,278</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,118</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,194</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51,625</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146,172</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22,788</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12,266</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,820</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,352</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,406</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,359</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,352</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">&nbsp;&nbsp;</div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2016</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor </div></div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">707,397</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">656,095</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307,466</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670,958</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(561,856</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(520,810</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(213,600</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,296,266</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">145,541</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135,285</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,866</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">374,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,217</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,834</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,764</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(170,815</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(717</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,904</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,075</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(886</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(189</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,602</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">195</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,169</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,847</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">76,012</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,939</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,847</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85,819</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">210,746</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30,112</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,111</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,175</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(78,398</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,736</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,644</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt">CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor</div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,955,915</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,835,567</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">683,174</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,474,656</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,592,317</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,468,154</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(512,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,572,819</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 36.8%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">363,598</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">367,413</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">170,826</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">901,837</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(203,674</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(237,232</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(57,796</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(498,702</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,006</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,204</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,760</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,439</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,724</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(715</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,612</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(543</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,073</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,082</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">128,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">125,592</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">408,813</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,475</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,475</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">128,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">149,067</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">432,288</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(58,553</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61,411</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(37,358</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(157,322</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274,966</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,053</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,709</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274,966</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,817,935</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,866,598</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">750,470</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,435,003</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,451,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,486,644</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(533,543</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,471,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 36.9%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">366,356</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">379,954</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">216,927</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">963,237</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(201,503</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(220,595</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(51,112</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(473,210</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">444</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,170</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,685</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,785</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(900</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,885</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,241</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">134</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,992</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387,096</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">155,777</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167,219</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,678</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,889</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,889</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387,096</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">155,777</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">192,108</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">505,567</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(69,327</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(66,659</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(51,812</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(187,798</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,769</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89,118</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">140,296</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,769</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"> </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">CONDENSED CONSOLIDATING BALANCE SHEET</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">ASSETS</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,694</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,151</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83,310</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,620</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,620</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Intercompany receivables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,121,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">398,530</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,520,222</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Inventories:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,208,403</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,279,408</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,458,955</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,946,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Not owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44,285</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,100</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,559</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91,944</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,895</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,750</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,047</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Deferred income taxes, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">313,894</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307,251</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Goodwill</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">985,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172,296</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,459</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">235,135</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,994,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,395,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,079,321</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,658,835</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,809,903</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,357</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,357</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,205</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,205</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for sale, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">160,068</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">160,068</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for investment, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,792</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,991</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">270,932</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269,131</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,994,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,395,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,350,253</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,660,636</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,079,034</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">LIABILITIES AND EQUITY</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95,533</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58,196</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,023</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177,752</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accrued liabilities and intercompany payables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">365,920</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,260,516</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,066,124</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,130,136</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">562,424</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">295,600</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">295,600</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">424,662</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(398,530</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43,150</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,665,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,318,712</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,107,165</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,528,666</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,562,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable and other liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,831</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,831</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">152,786</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">152,786</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">173,617</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">173,617</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,665,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,318,712</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,280,782</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,528,666</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,735,931</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Equity:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Total Stockholders' Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,329,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,076,391</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,055,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,329,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Noncontrolling interest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,892</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,892</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 27pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total Equity</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,329,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,076,391</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,069,471</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,343,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities and Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,994,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,395,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,350,253</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,660,636</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,079,034</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">CONDENSED CONSOLIDATING BALANCE SHEET</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">ASSETS</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,261</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,614</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">191,086</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,321</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,321</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Intercompany receivables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,045,773</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">334,926</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,380,699</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Inventories:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,825,234</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,277,840</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,335,718</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,438,792</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Not owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,953</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,596</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,718</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66,267</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,469</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,923</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117,735</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">127,127</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,954,418</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954,418</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Deferred income taxes, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">337,021</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">330,378</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Goodwill</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165,214</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36,725</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">204,489</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,438,528</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,390,295</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,869,582</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,341,760</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,356,645</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,041</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,041</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,710</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,710</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for sale, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">262,058</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">262,058</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for investment, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,467</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,666</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">354,200</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">352,399</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,438,528</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,390,295</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,223,782</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,343,561</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,709,044</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">LIABILITIES AND EQUITY</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">92,611</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78,729</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40,440</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">211,780</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accrued liabilities and intercompany payables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,302,228</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">964,796</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,054,217</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">599,905</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">359,025</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,480</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(334,926</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,230,942</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,380,957</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,008,716</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,389,143</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,231,472</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable and other liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,559</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,559</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269,986</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269,986</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,230,942</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,380,957</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,278,702</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,389,143</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,501,458</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Equity:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Total Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,207,586</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,009,338</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">945,080</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954,418</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,207,586</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities and Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,438,528</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,390,295</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,223,782</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,343,561</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,709,044</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;"></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Operating Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 37.6%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Net cash provided by (used in) operating activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(287,435</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,744</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">147,216</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(123,475</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Investing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Investments in unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(79</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,955</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33,212</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Distributions of capital from unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">500</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,867</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,403</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,770</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Net cash paid for acquisitions</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44,477</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44,477</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan to parent and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,496</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,113</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,776</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(139,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(76,032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Financing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Change in restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(794</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(794</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Borrowings from revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685,550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685,550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(389,950</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(389,950</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(909</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(909</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payment on senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(483,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(483,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Proceeds from the issuance of senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579,125</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579,125</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Payment of debt issuance costs</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan from subsidiary</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Net proceeds from (payments on) mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(94,641</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(94,641</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">(Contributions to) distributions from Corporate and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,210</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,210</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Repurchases of common stock</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(150,014</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(150,014</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Common stock dividend payments</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Issuance of common stock under employee stock plans, net of tax withholdings</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Intercompany advances, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74,078</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,759</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">97,837</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">209,644</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,759</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">216</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,047</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net increase (decrease) in cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(79,567</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,746</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,853</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(78,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at beginning of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,261</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">64,655</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">208,127</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at end of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,694</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72,508</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129,667</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Operating Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 36.7%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Net cash provided by (used in) operating activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49,169</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,087</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,744</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167,662</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Investing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Investments in unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(235</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(192</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(26,573</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(27,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Distributions of capital from unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,107</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,287</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,727</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan to parent and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(325</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,958</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,106</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,389</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">547</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,817</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(96,192</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,662</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Financing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Change in restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,309</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,309</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Borrowings from revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,008,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,008,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(862,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(862,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,985</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(404</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,389</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(280,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(280,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Proceeds from the issuance of senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Payment of debt issue costs</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,657</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,657</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan from subsidiary</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Net proceeds from (payments on) mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(141,524</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(141,524</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">(Contributions to) distributions from Corporate and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,350</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,350</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Repurchases of common stock</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(137,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(137,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Common stock dividend payments</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,264</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,264</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Issuance of common stock under employee stock plans, net of tax withholdings</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,868</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,868</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(199</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(199</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Intercompany advances, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49,757</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,992</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,235</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">160,405</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(96,191</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(106,734</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(131,320</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net increase (decrease) in cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,783</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(81,921</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,182</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,680</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at beginning of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,387</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112,852</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,355</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">186,594</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at end of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,170</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,931</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,173</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">214,274</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div> 506100000 124449912 136077415 129521479 136888927 false --12-31 Q3 2017 2017-09-30 10-Q 0000878560 110334484 Yes Large Accelerated Filer CalAtlantic Group, Inc. No Yes caa 20831000 22559000 20831000 22559000 177752000 211780000 95533000 58196000 24023000 92611000 78729000 40440000 562424000 599905000 365920000 1260516000 1066124000 -2130136000 387098000 1302228000 964796000 -2054217000 -172000 -172000 3064963000 3204835000 5100000 3700000 14300000 11200000 0 1000000 1000000 0 8809903000 8356645000 269131000 352399000 9079034000 8709044000 8994314000 2395103000 2079321000 -4658835000 270932000 -1801000 8994314000 2395103000 2350253000 -4660636000 8438528000 2390295000 1869582000 -4341760000 354200000 -1801000 8438528000 2390295000 2223782000 -4343561000 1347835000 1181544000 2375363000 2253289000 1895329000 1842869000 2706155000 2500163000 485221000 578780000 24529000 9387000 9387000 15142000 8711000 24529000 18098000 172000 465000 465000 24994000 18563000 0 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 18pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: justify; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></td> <td> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: justify; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;<div style="display: inline; text-decoration: underline;">Basis of Presentation</div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: justify; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The accompanying condensed consolidated financial statements<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (&quot;SEC&quot;) for Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-Q and include the accounts of CalAtlantic Group, Inc., its wholly owned subsidiaries, and partnerships in which CalAtlantic Group, Inc. either has a controlling interest or is deemed to be the primary beneficiary of a variable interest entity. Certain information normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (&quot;GAAP&quot;) has been omitted pursuant to applicable rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements included herein reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our financial position as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and the results of operations and cash flows for the periods presented.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">-K for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016. </div>Unless the context otherwise requires, the terms &quot;we,&quot; &quot;us,&quot; &quot;our&quot; and &quot;the Company&quot; refer to CalAtlantic Group, Inc. and its subsidiaries. The results of operations for interim periods are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> necessarily indicative of results to be expected for the full year.</div></div></div> 48.26 44500000 100000 25700000 3900000 80800000 83310000 191086000 46357000 17041000 25694000 31465000 26151000 46357000 105261000 38211000 47614000 17041000 208127000 186594000 129667000 214274000 105261000 38211000 64655000 25694000 31465000 72508000 6387000 112852000 67355000 118170000 30931000 65173000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Cash and Equivalents and Restricted Cash</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less from the date of purchase. At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>cash and equivalents included <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$80.8</div> million of cash from home closings held in escrow for our benefit, typically for less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> days, which are considered deposits in-transit.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>homebuilding restricted cash represented <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$29.6</div> million of cash held in cash collateral accounts primarily related to certain letters of credit that have been issued. Financial services restricted cash as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>consisted of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$17.7</div> million held in cash collateral accounts primarily related to certain letters of credit that have been issued, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.0</div> million related to our financial services subsidiary mortgage credit facility and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.5</div> million related to funds held in trust for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties.</div></div></div> -78460000 27680000 -79567000 -6746000 7853000 111783000 -81921000 -2182000 29620000 29796000 21205000 21799000 180492000 265869000 3000000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.&nbsp; &nbsp; &nbsp;<div style="display: inline; text-decoration: underline;">Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following are supplemental disclosures to the condensed consolidated statements of cash flows:</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Supplemental Disclosures of Cash Flow Information:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Cash paid during the period for:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177,332</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">150,822</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Supplemental Disclosures of Noncash Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Increase in secured project debt for assets acquired</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,480</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,625</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.</div>&nbsp; &nbsp; &nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Commitments and Contingencies</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 28pt">&nbsp;</td> <td style="WIDTH: 22pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">a.</div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">Land Purchase and Option Agreements</div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">We are subject to obligations associated with entering into contracts for the purchase of land and improved homesites. These purchase contracts typically require us to provide a cash deposit or deliver a letter of credit in favor of the seller, and our purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements. We also utilize option contracts with land sellers as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the near-term use of funds from our corporate financing sources. Option contracts generally require a non-refundable deposit for the right to acquire lots over a specified period of time at predetermined prices. We generally have the right at our discretion to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit or by repaying amounts drawn under <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">a letter of credit provided by us with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> further financial responsibility to the land seller, although in certain instances, the land seller has the right to compel us to purchase a specified number of lots at predetermined prices. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In some instances, we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>also expend funds for due diligence, development and construction activities with respect to our land purchase and option contracts prior to purchase, which we would have to write off should we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> purchase the land. At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had non-refundable cash deposits outstanding of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$80.3</div> million and capitalized pre-acquisition and other development and construction costs of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$31.3</div> million relating to land purchase and option contracts having a total remaining purchase price of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$995.1</div> million.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Our utilization of option contracts is dependent on, among other things, the availability of land sellers willing to enter into option takedown arrangements, the availability of capital to financial intermediaries, general housing market conditions, and geographic preferences. Options <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be more difficult to procure from land sellers in strong housing markets and are more prevalent in certain geographic regions.</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 28pt">&nbsp;</td> <td style="WIDTH: 22pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">b.</div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">Land Development and Homebuilding Joint Ventures</div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 23.1pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Our joint ventures have historically obtained secured acquisition, development and construction financing designed to reduce the use of funds from corporate financing sources. As of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we held ownership interests in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28</div> homebuilding and land development joint ventures, of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div> were active and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div> were inactive or winding down. </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> unconsolidated joint ventures with project specific debt outstanding</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> joint venture surety bonds outstanding subject to indemnity arrangements by us. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 40.5pt; TEXT-INDENT: -18pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">c. </div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Surety Bonds</div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">We obtain surety bonds in the normal course of business to ensure completion of the infrastructure of our communities. At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,002.2</div> million in surety bonds outstanding, with respect to which we had an estimated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$506.1</div> million remaining in cost to complete.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 40.5pt; TEXT-INDENT: -18pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">d. </div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mortgage Loans and Commitments </div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">We commit to making mortgage loans to our homebuyers through our mortgage financing subsidiary, CalAtlantic Mortgage. CalAtlantic Mortgage sells substantially all of the loans it originates in the <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">secondary mortgage market and finances these loans under its mortgage credit facility for a short period of time (typically for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45</div> days), as investors complete their administrative review of applicable loan documents. Mortgage loans in process for which interest rates were committed to borrowers totaled approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$291.6</div> million at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and carried a weighted average interest rate of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.0%.</div> Interest rate risks related to these obligations are mitigated by CalAtlantic Mortgage through the preselling of loans to investors or through its interest rate hedging program. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>CalAtlantic Mortgage had approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$163.4</div> million in closed mortgage loans held for sale and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$33.3</div> million of mortgage loans in process that we were committed to sell to investors subject to our funding of the loans and the investors&#x2019; completion of their administrative review of the applicable loan documents. In addition, as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>CalAtlantic Mortgage had approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$258.3</div> million of mortgage loans in process that were or are expected to be originated on a non-presold basis, substantially all of which were hedged by forward sale commitments of mortgage-backed securities prior to entering into loan sale transactions with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party investors.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Substantially all of the loans originated by CalAtlantic Mortgage are sold with servicing rights released on a non-recourse basis. These sales are generally subject to CalAtlantic Mortgage<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2019;s obligation to repay its gain on sale if the loan is prepaid by the borrower within a certain time period following such sale, or to repurchase the loan if, among other things, the purchaser&#x2019;s underwriting guidelines are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> met, or there is fraud in connection with the loan. During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> CalAtlantic Mortgage recorded loan loss expense related to indemnification and repurchase allowances of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.3</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.1</div> million, respectively. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>CalAtlantic Mortgage had indemnity and repurchase allowances related to loans sold of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.8</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.6</div> million, respectively. In addition, during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> CalAtlantic Mortgage made make-whole payments of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.1</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.3</div> million, respectively.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 40.5pt; TEXT-INDENT: -18.2pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">e. </div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Insurance and Litigation Accruals</div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Insurance and litigation accruals are established with respect to estimated future claims cost. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy. We record allowances to cover the estimated costs of our self-insurance liability based on an analysis performed by an independent <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party actuary that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Our total insurance and litigation accruals as of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$233.8</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$233.5</div> million, respectively, which are included in accrued liabilities in the accompanying condensed consolidated balance sheets. Because of the high degree of judgment required in determining these estimated accrual amounts, actual future claim costs could differ materially from our currently estimated amounts.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2017, </div>Weyerhaeuser Company notified the <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Company of an issue with a specific type of fire rated I-joist product manufactured after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 1, 2016.&nbsp; </div>The Company estimates that the joist is present in approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">370</div> Company homes located in our Colorado, Twin Cities and Philadelphia markets. Weyerhaeuser has committed to us that they will absorb the costs and directly pay for the repair of the affected homes, and as a result, we do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe we will incur any material costs, expenses or charges as a result of this issue.</div></div></div> 0.04 0.04 0.12 0.12 0.01 0.01 600000000 600000000 110217216 114429297 110217216 114429297 1102000 1144000 93352000 132348000 274966000 317808000 528858000 505367000 178483000 1212708000 561856000 520810000 213600000 1296266000 1592317000 1468154000 512348000 3572819000 1451579000 1486644000 533543000 3471766000 115000 1596000 240000 5638000 247000 31217000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. <div style="display: inline; text-decoration: underline;">Secured Project Debt and Other Notes Payable</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 23.1pt">Our secured project debt and other notes payable consist of seller non-recourse financing and community development district and similar assessment district bond financings used to finance land acquisition, development and infrastructure costs for which we are responsible. At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$43.2</div> million outstanding in secured project debt and other notes payable. </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></div></div></div> 0.0124 0.0425 31.36 73.44 31.8845 13.6157 30 20 350000000 0.01625 0.01625 0.0025 0.05875 0.0525 0.084 0.05 0.0125 0.01625 0.0025 0.0125 0.0125 0.084 0.08375 0.08375 0.01625 0.01625 0.0025 0.0025 0.06625 0.06625 0.08375 0.08375 0.0625 0.0625 0.05375 0.05375 0.05875 0.05875 0.0525 0.0525 0.05 0.0125 0.0125 1 1 22972000 8118000 309200000 307251000 330378000 313894000 -6643000 337021000 -6643000 96000000 16100000 5000000 15600000 192100000 1925000 2456000 1900000 2000000 4500000 2300000 5300000 1700000 4200000 2800000 7100000 5600000 12200000 7800000 16100000 4500000 11200000 8600000 18900000 41818000 43193000 94000 91000 1123000 1088000 85000 82000 1016000 984000 48000 62000 752000 744000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Stock-Based Compensation</div></div></div> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt; TEXT-INDENT: -54pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.3pt">We account for share-based awards in accordance with <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">ASC Topic&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718,</div><div style="display: inline; font-style: italic;"> Compensation &#x2013; Stock Compensation </div>(&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718&quot;</div>), which requires that the cost resulting from all share-based payment transactions be recognized in the financial statements. ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718</div> requires all entities to apply a fair value-based measurement method in accounting for share-based payment transactions with employees except for equity instruments held by employee share ownership plans.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total compensation expense recognized related to stock-based compensation was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.1</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.7</div> million for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> respectively. For the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> we recognized stock-based compensation expense of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$14.3</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$11.2</div> million, respectively. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>total unrecognized stock-based compensation expense was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$31.3</div> million, with a weighted average period over which the remaining unrecognized compensation expense is expected to be recorded of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div> years.</div></div></div> 0.84 1.12 2.43 2.66 0.75 0.97 2.14 2.34 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Earnings Per Common Share</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We compute earnings per share in accordance with ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">260,</div> <div style="display: inline; font-style: italic;">Earnings per Share</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">260&quot;</div>), which requires earnings per share for each class of stock to be calculated using the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div>-class method. The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div>-class method is an allocation of earnings between the holders of common stock and a company's participating security holders. Under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div>-class method, earnings for the reporting period are allocated between common shareholders and other security holders based on their respective participation rights in undistributed earnings. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and, therefore, are included in computing earnings per share pursuant to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div>-class method.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Basic earnings per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of basic common stock outstanding. Our unvested restricted stock is classified as a participating security in accordance with ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">260.</div> Net income allocated to the holders of our unvested restricted stock is calculated based on the shareholders&#x2019; proportionate share of weighted average shares of common stock outstanding on an if-converted basis.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For purposes of determining diluted earnings per common share, basic earnings per common share is further adjusted to include the effect of potential dilutive common shares outstanding, including stock options, stock appreciation rights, performance share awards and unvested restricted stock using the more dilutive of either the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div>-class method or the treasury stock method, and convertible debt using the if-converted method. Under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div>-class method of calculating diluted earnings per share, net income is reallocated to common stock, unvested restricted stock and all dilutive securities based on the contractual participating rights of the security to share in the current earnings as if all of the earnings for the period had been distributed. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 95%; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands, except per share amounts)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 48%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Numerator:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,352</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274,966</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,769</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Less: Net income allocated to unvested restricted stock</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(400</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(294</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,104</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(635</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; TEXT-INDENT: -9pt">Net income available to common stockholders for basic earnings per common share</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">92,952</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">273,862</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,134</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Effect of dilutive securities:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest on 1.625% convertible senior notes due 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,123</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,088</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest on 0.25% convertible senior notes due 2019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,016</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">984</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest on 1.25% convertible senior notes due 2032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">752</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">744</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; TEXT-INDENT: -9pt">Net income available to common stock for diluted earnings per share</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,179</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,289</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">276,753</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">319,950</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 48%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Denominator:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Weighted average basic common shares outstanding</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110,205,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,338,891</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112,778,362</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">119,188,145</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Effect of dilutive securities:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Share-based awards</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">875,214</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">643,602</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">881,500</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">605,860</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">1.625% convertible senior notes due 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,174,013</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,165,845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,174,013</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,165,845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">0.25% convertible senior notes due 2019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,642,200</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,638,080</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,642,200</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,638,080</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">1.25% convertible senior notes due 2032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553,025</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,290,997</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,045,404</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,290,997</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Weighted average diluted shares outstanding</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">124,449,912</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136,077,415</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129,521,479</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136,888,927</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="WIDTH: 48%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Income per common share:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Basic</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.84</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.12</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.43</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.66</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Diluted</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.75</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.97</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.14</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.34</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div> 31300000 P2Y73D <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.</div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Investments in Unconsolidated Land Development and Homebuilding Joint Ventures</div></div></div> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-TOP: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Income (loss) from unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations represents our share of the income (loss) of our unconsolidated land development and homebuilding joint ventures, which is allocated based on the provisions of the underlying joint venture operating agreements less any additional impairments<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">, if any, recorded against our investments in joint ventures which we do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> deem recoverable. In addition, we defer recognition of our share of income that relates to lots purchased by us from land development joint ventures until we ultimately sell the homes to be constructed to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties, at which time we account for these earnings as a reduction of the cost basis of the lots purchased from these joint ventures. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">During each of the <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> all of our investments in unconsolidated joint ventures were reviewed for impairment. Based on the impairment review, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> joint venture communities were determined to be impaired for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>and we recorded a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.0</div> million impairment charge during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2016, </div>related to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> joint venture in the West. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Our investments in unconsolidated joint ventures <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>represent a variable interest in a VIE depending on, among other things, the economic interests of the members of the entity and the contractual terms of the arrangement. We analyze all of our unconsolidated joint ventures under the provisions of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810</div> to determine whether these entities are deemed to be VIEs, and if so, whether we are the primary beneficiary. As of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>with the exception of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> homebuilding joint ventures that we consolidated during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> in accordance with ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810,</div> all of our homebuilding and land development joint ventures with unrelated parties were determined under the provisions of ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810</div> to be unconsolidated joint ventures either because they were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> deemed to be VIEs and we did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a controlling interest, or, if they were a VIE, we were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> deemed to be the primary beneficiary. Based on our assessment of each consolidated joint venture&#x2019;s operating agreement in accordance with ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810,</div> we determined that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> joint ventures were either (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) a consolidated VIE&nbsp;where CalAtlantic Group, Inc. is the primary beneficiary that has both (i) the power to direct the activities of the entity that most significantly impact the entity&#x2019;s economic performance and (ii) the obligation to absorb the expected losses of the entity and right to receive benefits from the entity that could be potentially significant to the joint venture or (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) a consolidated joint venture in which CalAtlantic Group, Inc. has a controlling financial interest. As a result of consolidating these <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> entities, we have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$13.9</div> million of noncontrolling interest reflected in the accompanying condensed consolidated balance sheets as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017.</div></div></div></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 20%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value at</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; BORDER-BOTTOM: rgb(0,0,0) thin solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Hierarchy</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30,<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2017</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2016</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 43%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Marketable securities, available-for-sale</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Municipal debt securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,387</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,387</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Metropolitan district bond securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 3</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,142</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,711</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Mortgage loans held for sale</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">163,352</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">265,542</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.</div> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Disclosures about Fair Value</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">820,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Fair Value Measurements and Disclosures</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">820&quot;</div>), establishes a framework for measuring fair value, expands disclosures regarding fair value measurements and defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Further, ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">820</div> requires us to maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">820</div> specifies a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> levels of the hierarchy are as follows:</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&#x2022;<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> &#x2013; quoted prices for <div style="display: inline; font-style: italic;">identical </div>assets or liabilities in active markets;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&#x2022;<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> &#x2013; quoted prices for <div style="display: inline; font-style: italic;">similar</div> assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&#x2022;<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> &#x2013; valuations derived from valuation techniques in which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more significant inputs or significant value drivers are <div style="display: inline; font-style: italic;">unobservable</div>.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">F<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">inancial instruments measured at fair value on a recurring basis:</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 20%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value at</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; BORDER-BOTTOM: rgb(0,0,0) thin solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Hierarchy</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30,<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2017</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2016</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 43%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Marketable securities, available-for-sale</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Municipal debt securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,387</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,387</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Metropolitan district bond securities</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 3</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,142</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,711</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 43%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Mortgage loans held for sale</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">163,352</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">265,542</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">Marketable Securities, Available-for-sale</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Marketable securities that are available-for-sale are comprised mainly of municipal debt securities and metropolitan district bond securities. The Company<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2019;s municipal debt securities are valued based on quoted market prices of similar instruments, which uses Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> inputs, and the metropolitan district bond securities are based on a discounted future cash flow model, which uses Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> inputs. The primary unobservable inputs used in our discounted cash flow model are (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) the forecasted number of homes to be closed, as homes drive increases to the taxpaying base for the metropolitan district, (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) the forecasted assessed value of those closed homes and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) the discount rate. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">Mortgage loans held for sale</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Mortgage loans held for sale<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"> </div>consist of FHA, VA, USDA and agency <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> mortgages on single-family residences which are eligible for sale to FNMA/FHLMC, GNMA or other investors, as applicable. Fair values of these loans are based on quoted prices from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party investors when preselling loans. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">F<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">inancial instruments for which we have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> elected the fair value option in accordance with ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825:</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%; BORDER-BOTTOM: rgb(0,0,0) thin solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Description</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Hierarchy</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Carrying<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amount</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Carrying<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amount</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 40%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Financial services assets:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Mortgage loans held for investment, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding liabilities:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Senior and convertible senior notes payable, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,753,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,617,838</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">Mortgage Loans Held for Investment <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2013; </div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Fair value of these loans is based on the estimated market value of the underlying collateral based on market data and other factors for similar type properties as further adjusted to reflect the estimated net realizable value of carrying the loans through disposition.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">Senior </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">and Convertible Senior </div><div style="display: inline; font-style: italic;">Notes Payable &#x2013; </div>The senior notes are traded over the counter and their fair values were estimated based upon the values of their last trade at the end of the period. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The fair value of our cash and equivalents, restricted cash, accounts payable and <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">accrued liabilities, secured project debt and other notes payable, revolving credit facility, and mortgage credit facility approximate their carrying amounts due to the short-term nature and/or variable interest rate attribute of these assets and liabilities.</div></div></div> 12883000 11626000 36919000 34635000 20161000 21433000 60394000 59524000 15000000 985185000 970185000 970185000 15000000 970185000 118478000 126895000 57762000 303135000 145541000 135285000 93866000 374692000 363598000 367413000 170826000 901837000 366356000 379954000 216927000 963237000 1212468000 1290628000 3572572000 3440549000 1515167000 1665030000 4473480000 4402896000 0 0 146172000 111118000 46194000 51625000 -62765000 162460000 57847000 85819000 -95380000 210746000 333519000 128464000 149067000 -178762000 432288000 387096000 155777000 192108000 -229414000 505567000 9760000 2643000 78000 113000 525000 486000 437000 252000 44000 515000 869000 5096000 1074000 8720000 851000 5426000 1231000 9760000 2643000 981000 252000 4193000 5426000 -717000 44000 1904000 1231000 2006000 550000 7204000 29000 444000 2170000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Income Taxes</div><div style="display: inline; text-decoration: underline;"> </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 22.5pt; TEXT-INDENT: -22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24.5pt">We account for income taxes in accordance with ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740,</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Income Taxes</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740&quot;</div>). ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740</div> requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered. Changes to enacted tax rates could materially impact the recorded amount of our deferred tax asset.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24.5pt">Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> unrealizable under ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740.</div> We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our prior and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods, our utilization experience with operating loss and tax credit carryforwards, and tax planning alternatives.</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24.5pt">Our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter provision for income taxes of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$52.8</div> million primarily related to our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$146.2</div> million of pretax income. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we had a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$309.2</div> million deferred tax asset which was partially offset by a valuation allowance of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.9</div> million related to state net operating loss carryforwards that are limited by shorter carryforward periods. As of such date, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$96.0</div> million of our deferred tax asset related to net operating loss carryforwards is subject to the Internal Revenue Code Section <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">382</div> gross annual deduction limitation of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15.6</div> million for both federal and state purposes. Additionally, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$16.1</div>&nbsp;million of our state deferred tax asset related to net operating losses is subject to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">382</div> limitations resulting from our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 1, 2015 </div>merger with Ryland, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.0</div> million related to state net operating loss carryforwards that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited by Section <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">382.</div> The remaining deferred tax asset balance of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$192.1</div> million represented deductible timing differences, primarily related to inventory impairments and financial accruals, which have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> expiration date. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>our liability for unrecognized tax benefits was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$14.0</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$12.1</div> million, respectively, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets. In addition, as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we remained subject to examination by various tax jurisdictions for the tax years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2012 </div>through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div></div></div></div> 52820000 17766000 22788000 12266000 30112000 23111000 25175000 78398000 58553000 61411000 37358000 157322000 69327000 66659000 51812000 187798000 177332000 150822000 -34028000 13122000 -23207000 9787000 -101968000 -154622000 12206000 -7665000 7174013 7165845 7174013 7165845 3642200 3638080 3642200 3638080 2553025 6290997 5045404 6290997 875214 643602 881500 605860 52158000 55761000 154371000 172170000 52972000 56872000 156845000 175207000 845000 -519000 -326000 1075000 -886000 -189000 2439000 -1724000 -715000 3685000 -2785000 -900000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.&nbsp; &nbsp; &nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Inventories</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt">&nbsp;</td> <td style="WIDTH: 14pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">a.</div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">Inventories Owned</div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Inventories owned consisted of the following at:&nbsp;&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 95%; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">North</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southeast</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southwest</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">West</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 35%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Land and land under development (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136,182</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">993,953</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">420,686</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,335,910</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,886,731</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homes completed and under construction</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">790,486</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">928,157</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">966,286</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">939,488</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,624,417</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Model homes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,518</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112,197</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102,969</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,934</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">435,618</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total inventories owned</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">984,186</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,034,307</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,489,941</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,438,332</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,946,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 95%; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">North</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southeast</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Southwest</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">West</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Total</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 35%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Land and land under development (1)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">445,245</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,177,646</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">594,585</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,410,264</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,627,740</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homes completed and under construction</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">327,421</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">585,938</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">710,509</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">680,241</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,304,109</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Model homes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79,306</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,968</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">116,575</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,094</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">506,943</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 35%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total inventories owned</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">851,972</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,896,552</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,421,669</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,268,599</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,438,792</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <hr align="left" style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 10%; BORDER-BOTTOM: medium none; COLOR: #000000; MARGIN: 3pt auto 3pt 0px; BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" /> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)</div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">During the <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we purchased <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$732.4</div> million of land (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,694</div> homesites), of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27%</div> (based on homesites) were located in the North, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34%</div> in the Southeast, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18%</div> in the Southwest, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21%</div> in the West. During the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>we purchased <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$960.8</div> million of land (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,566</div> homesites), of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div> (based on homesites) were located in the North, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div> in the Southeast, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24%</div> in the Southwest, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26%</div> in the West. </div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In accordance with ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">360,</div> <div style="display: inline; font-style: italic;">Property, Plant, and Equipment</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">360&quot;</div>), we record impairment losses on inventories when events and circumstances indicate that they <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be impaired, and the future undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts. We perform a detailed budget and cash flow review of all of our real estate communities (including actively selling communities, future communities and communities on hold/inactive) on a semi-annual basis throughout each fiscal year to, among other things, determine whether the community&#x2019;s estimated remaining undiscounted future cash flows are more or less than the carrying value of the inventory balance. Inventories that are determined to be impaired are written down to their estimated fair value. We calculate the fair value of a community under a land residual value analysis and in certain cases in conjunction with a discounted cash flow analysis. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the total active and future communities that we owned were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">901</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">879,</div> respectively.&nbsp; During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> we reviewed all communities for indicators of impairment and based on our review we did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> record any inventory impairments during these periods. </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter, we acquired the homebuilding operations (representing approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19</div> current and future communities) from a Seattle-based developer and homebuilder for total consideration of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$44.5</div> million, which we accounted for as a business combination in accordance with ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">805,</div> <div style="display: inline; font-style: italic;">Business Combinations</div>.&nbsp; As a result of this transaction, we recorded approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$25.7</div> million of inventories owned, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.9</div> million of inventories <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> owned, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15.0</div> million of goodwill and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.1</div> million of other accrued liabilities and other debt.&nbsp; As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>these amounts are subject to change as we have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet finalized the purchase price allocation of the real estate assets acquired in this transaction.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt">&nbsp;</td> <td style="WIDTH: 14pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">b.</div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic;">Inventories <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Not</div> Owned </div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Inventories <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> owned as of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>consisted of land purchase and lot option deposits outstanding at the end of each period, and purchase price allocated to lot option contracts assumed in connection with business acquisitions. Under ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810,</div> <div style="display: inline; font-style: italic;">Consolidation</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810&quot;</div>), a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity&#x2019;s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to purchase the optioned property. In some instances, we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as inventories owned, which we would have to write-off should we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a variable interest entity (&quot;VIE&quot;) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have been created. In accordance with ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810,</div> we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.</div></div></div> 6946766000 6438792000 3208403000 2279408000 1458955000 2825234000 2277840000 1335718000 984186000 2034307000 1489941000 2438332000 851972000 1896552000 1421669000 2268599000 57518000 112197000 102969000 162934000 435618000 79306000 132968000 116575000 178094000 506943000 136182000 993953000 420686000 1335910000 2886731000 445245000 1177646000 594585000 1410264000 3627740000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Contractual maturity:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Maturing in one year or less</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Maturing after three years</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,529</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Total marketable securities, available-for-sale</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,529</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> 130692000 127127000 5895000 3750000 121047000 4469000 4923000 117735000 5829000 5691000 162000 334000 4855000 6085000 119846000 115017000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Marketable Securities, Available-for-sale</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: justify; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The Company<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2019;s investment portfolio includes mainly municipal debt securities and metropolitan district bond securities, which are included in homebuilding other assets in the accompanying condensed consolidated balance sheets. As defined in ASC Topic&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320,</div><div style="display: inline; font-style: italic;"> Investments&#x2014;Debt and Equity Securities</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320&quot;</div>), the Company considers its investment portfolio to be available-for-sale. Accordingly, these investments are recorded at their fair values. The cost of securities sold is based on an average-cost basis. Unrealized gains and losses on these investments are included in accumulated other comprehensive income (loss), net of tax, within stockholders' equity. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>accumulated other comprehensive income (loss) included unrealized losses of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$172,000</div> on available-for-sale marketable securities. Realized earnings associated with the Company&#x2019;s available-for-sale marketable securities, which included interest and dividends totaled <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$173,000</div> for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>and were included in homebuilding other income (expense) in the accompanying condensed consolidated statements of operations.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The Company periodically reviews its available-for-sale securities for other-than-temporary declines in fair values that are below their cost bases, as well as whenever events or changes in circumstances indicate that the carrying amount of an asset <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. At <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>the Company believes that the cost bases for its available-for-sale securities were recoverable in all material respects.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The following table displays the fair values of marketable securities, available-for-sale, by type of security:</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="10"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="10"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Amortized</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gross</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Unrealized</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Losses</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Estimated </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Amortized </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gross </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Unrealized</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Losses</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Estimated </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="22"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Type of security:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Municipal bond and metropolitan district securities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,994</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,529</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,563</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.95pt">The following table displays the fair values of marketable securities, available-for-sale, by contractual maturity:</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: justify; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Contractual maturity:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Maturing in one year or less</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Maturing after three years</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,529</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 81%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Total marketable securities, available-for-sale</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,529</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div> 676000 5928000 1176000 32107000 119200000 22400000 4562314000 4231472000 173617000 269986000 4735931000 4501458000 4665103000 1318712000 1107165000 -2528666000 173617000 4665103000 1318712000 1280782000 -2528666000 4230942000 1380957000 1008716000 -2389143000 269986000 4230942000 1380957000 1278702000 -2389143000 9079034000 8709044000 8994314000 2395103000 2350253000 -4660636000 8438528000 2390295000 2223782000 -4343561000 295600000 295600000 295600000 750000000 350000000 1200000000 48000000 300000000 335200000 163400000 0.0175 0.0075 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Senior Notes Payable </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Senior notes payable consisted of the following at:</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30,<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">8.4% Senior Notes due May 2017</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">235,175</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">8.375% Senior Notes due May 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">574,784</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">574,501</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">1.625% Convertible Senior Notes due May 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">222,757</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">220,236</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">0.25% Convertible Senior notes due June 2019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">258,035</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253,777</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">6.625% Senior Notes due May 2020</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">315,430</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">319,909</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">8.375% Senior Notes due January 2021</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">396,087</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">395,246</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">6.25% Senior Notes due December 2021</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">297,980</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">297,623</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.375% Senior Notes due October 2022</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">249,331</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">249,230</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.875% Senior Notes due November 2024</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">426,558</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">296,982</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.25% Senior Notes due June 2026</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">395,323</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">297,483</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.00% Senior Notes due June 2027</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">347,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">1.25% Convertible Senior Notes due August 2032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">252,046</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">The carrying amount of our senior notes listed above are net of debt issuance costs and any discounts and premiums that are amortized to interest costs over the respective terms of the notes.</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">The Company's <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.625%</div> Convertible Senior Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.625%</div> Convertible Notes bear interest at a rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.625%</div> per year and will mature on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 15, 2018, </div>unless earlier converted or repurchased. The holders <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>convert their <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.625%</div> Convertible Notes at any time into shares of the Company's common stock at a conversion rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.8</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">845</div> shares of common stock per <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,000</div> of their principal amount (which is equal to a conversion price of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$31.36</div> per share), subject to adjustment. The Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> redeem the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.625%</div> Convertible Notes prior to the stated maturity date.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">The Company's <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> Convertible Senior Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> Convertible Notes bear interest at a rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> per year and will mature on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 1, 2019, </div>unless earlier converted, redeemed or repurchased. The holders <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>convert their <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> Convertible Notes at any time into shares of the Company's common stock at a conversion rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.6</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157</div> shares of common stock per <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,000</div> of their principal amount (which is equal to a conversion price of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$73.44</div> per share), subject to adjustment. The Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> redeem the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> Convertible Notes prior to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 6, 2017. </div>On or after that date, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>redeem for cash any or all of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> Convertible Notes, at its option, if the closing sale price of its common stock for at least <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20</div> trading days (whether or <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> consecutive) during any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30</div> consecutive trading day period ending within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> trading days immediately preceding the date on which it provides notice of redemption, including the last trading day of such <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30</div> day trading period, exceeds <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130</div> percent of the applicable conversion price on each applicable trading day. The redemption price will equal <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100</div> percent of the principal amount of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.25%</div> Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Our senior notes payable are all senior obligations and rank equally with our other existing senior indebtedness and, with the exception of our Convertible Notes, are redeemable at our option, in whole or in part, pursuant to a &quot;make whole&quot; formula. These notes contain various restrictive covenants, including, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, a limitation on secured indebtedness and a restriction on sale leaseback transactions. As of <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017, </div>we were in compliance with the covenants required by our senior notes.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Many of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100%</div> owned direct and indirect subsidiaries (collectively, the &quot;Guarantor Subsidiaries&quot;) guarantee our outstanding senior notes. The guarantees are full and unconditional, and joint and several. Under our most restrictive indenture, a Guarantor Subsidiary will be released and relieved of any obligations under the applicable note guarantee in the event that i) such Guarantor Subsidiary ceases to be a restricted subsidiary in the homebuilding segment or ii) in the event of a sale or other disposition of such Guarantor Subsidiary, <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">in compliance with the indenture, and such Guarantor Subsidiary ceases to guaranty any other debt of the Company. Please see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21</div> for supplemental financial statement information about our guarantor subsidiaries group and non-guarantor subsidiaries group.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 2017, </div>the Company issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$225</div> million in aggregate principal amount of senior notes, consisting of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$125</div> million aggregate principal amount of additional notes to the Company<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2019;s existing <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.875%</div> Senior Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2024</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$100</div> million aggregate principal amount of additional notes to the Company&#x2019;s existing <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.25%</div> Senior Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2026,</div> each of which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. A portion of the net proceeds of this issuance were used to repay the remaining <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$230</div> million principal balance of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.4%</div> Senior Notes upon maturity in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017.</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2017, </div>the Company issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$350</div> million in aggregate principal amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.00%</div> Senior Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2027,</div> which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">A portion of the net proceeds of this issuance were used to repurchase and repay the aggregate principal balance of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.25%</div> Convertible Senior Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2032. </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 18pt">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2017, </div>the Company redeemed for cash<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">, at a redemption price equal to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100%</div> of the principal amount, all of the remaining <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$253</div> million of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.25%</div> Convertible Senior Notes which were scheduled to mature on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 1, 2032.</div></div></div></div> 13892000 13892000 25510000 24924000 25510000 24924000 163352000 265542000 121047000 -131320000 209644000 -23759000 216000 -65054000 160405000 -96191000 -106734000 -88800000 -76032000 -8662000 -1776000 269000 -139579000 65054000 547000 -1817000 -96192000 88800000 -123475000 167662000 -287435000 16744000 147216000 -49169000 16087000 200744000 274966000 317769000 93352000 23406000 39359000 -62765000 93352000 132348000 34736000 60644000 -95380000 132348000 274966000 67053000 111709000 -178762000 317769000 89118000 140296000 -229414000 92952000 132054000 273862000 317134000 93179000 132289000 276753000 319950000 3483388000 3753098000 3392208000 3617838000 2 4 2016 2012 235135000 204489000 15991000 26666000 172296000 43380000 19459000 17792000 -1801000 165214000 36725000 2550000 28467000 -1801000 39000 -7062000 -100000 -3714000 -287000 2763000 -1238000 -3602000 -762000 195000 -4169000 -9612000 -543000 6073000 -4082000 -10885000 -1241000 134000 -11992000 11113000 5389000 2098000 1519000 7496000 325000 1958000 3106000 150014000 137464000 150014000 137464000 5019000 2657000 5019000 2657000 13427000 14264000 13427000 14264000 44477000 44477000 33212000 27000000 178000 79000 32955000 235000 192000 26573000 65054000 -65054000 88800000 -88800000 0.01 0.01 10000000 10000000 0 0 0 0 1210000 -1210000 18350000 -18350000 12770000 23727000 500000 1867000 10403000 1107000 333000 22287000 225000000 125000000 100000000 579125000 300000000 579125000 300000000 685550000 1008000000 685550000 1008000000 -67000 -199000 -67000 -199000 65054000 -65054000 88800000 -88800000 -794000 7309000 -794000 7309000 43932000 40691000 41726000 42506000 18303000 15088000 16097000 16903000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Warranty Costs</div> </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 23.85pt">Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts accrued are based upon historical experience. Indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary. Our warranty accrual is included in accrued liabilities in the accompanying condensed consolidated balance sheets.</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 23.85pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 23.85pt">Changes in our warranty accrual are detailed in the table set forth below:</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty accrual, beginning of the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43,932</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40,691</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty costs accrued during the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,097</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,903</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty costs paid during the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,303</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15,088</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty accrual, end of the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,726</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42,506</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div> 379884000 362807000 48912000 44636000 140687000 115367000 282591000 283060000 848438000 710889000 427244000 400720000 1207616000 1065038000 356952000 389160000 1099803000 1165797000 449056000 598018000 1318799000 1493279000 1515843000 1670958000 4474656000 4435003000 647336000 632262000 236245000 1515843000 707397000 656095000 307466000 1670958000 1955915000 1835567000 683174000 4474656000 1817935000 1866598000 750470000 4435003000 173000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding assets:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,347,835</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,181,544</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,375,363</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,253,289</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,895,329</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,842,869</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,706,155</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,500,163</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Corporate</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">485,221</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">578,780</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding assets</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,809,903</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,356,645</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding investments in unconsolidated joint ventures:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,829</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,691</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">334</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,855</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,085</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">119,846</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,017</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding investments in unconsolidated joint ventures</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">127,127</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> 389950000 862000000 389950000 862000000 909000 10389000 909000 9985000 404000 230000000 253000000 483000000 280000000 483000000 280000000 29600000 17700000 3000000 500000 29620000 28321000 21205000 21710000 29620000 21205000 28321000 21710000 1263318000 1001779000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="10"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="10"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Amortized</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gross</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Unrealized</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Losses</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Estimated </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Amortized </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Cost</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Gross </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Unrealized</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Losses</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Estimated </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="22"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Type of security:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 28%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Municipal bond and metropolitan district securities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,994</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,529</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,563</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%; BORDER-BOTTOM: rgb(0,0,0) thin solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Description</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Hierarchy</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Carrying<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amount</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Carrying<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amount</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Fair Value</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 40%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Financial services assets:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Mortgage loans held for investment, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding liabilities:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Senior and convertible senior notes payable, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,753,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,617,838</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Supplemental Disclosures of Cash Flow Information:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Cash paid during the period for:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177,332</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">150,822</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Supplemental Disclosures of Noncash Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,Times,serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Increase in secured project debt for assets acquired</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,480</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,625</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30, 2017</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">ASSETS</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,694</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,151</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83,310</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,620</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,620</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Intercompany receivables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,121,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">398,530</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,520,222</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Inventories:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,208,403</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,279,408</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,458,955</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,946,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Not owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44,285</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,100</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,559</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91,944</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,895</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,750</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,047</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Deferred income taxes, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">313,894</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307,251</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Goodwill</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">985,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172,296</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,459</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">235,135</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,994,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,395,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,079,321</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,658,835</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,809,903</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,357</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,357</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,205</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,205</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for sale, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">160,068</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">160,068</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for investment, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,510</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,792</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,991</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">270,932</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269,131</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,994,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,395,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,350,253</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,660,636</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,079,034</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">LIABILITIES AND EQUITY</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95,533</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58,196</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,023</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177,752</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accrued liabilities and intercompany payables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">365,920</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,260,516</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,066,124</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,130,136</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">562,424</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">295,600</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">295,600</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">424,662</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(398,530</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43,150</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,665,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,318,712</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,107,165</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,528,666</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,562,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable and other liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,831</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,831</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">152,786</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">152,786</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">173,617</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">173,617</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,665,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,318,712</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,280,782</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,528,666</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,735,931</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Equity:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Total Stockholders' Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,329,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,076,391</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,055,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,329,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Noncontrolling interest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,892</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,892</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 27pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total Equity</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,329,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,076,391</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,069,471</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,131,970</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,343,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities and Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,994,314</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,395,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,350,253</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,660,636</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,079,034</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">ASSETS</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,261</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,614</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">191,086</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,321</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,321</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Intercompany receivables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,045,773</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">334,926</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,380,699</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Inventories:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,825,234</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,277,840</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,335,718</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,438,792</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Not owned</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,953</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,596</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,718</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66,267</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,469</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,923</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117,735</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">127,127</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Investments in subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,954,418</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954,418</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Deferred income taxes, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">337,021</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">330,378</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Goodwill</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970,185</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165,214</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36,725</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">204,489</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,438,528</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,390,295</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,869,582</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,341,760</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,356,645</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,041</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,041</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,710</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,710</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for sale, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">262,058</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">262,058</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage loans held for investment, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,924</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Other assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,467</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,666</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">354,200</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,801</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">352,399</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Assets</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,438,528</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,390,295</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,223,782</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,343,561</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,709,044</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: center; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">LIABILITIES AND EQUITY</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">92,611</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78,729</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40,440</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">211,780</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accrued liabilities and intercompany payables</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,302,228</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">964,796</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,054,217</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">599,905</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">359,025</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,480</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(334,926</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Homebuilding Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,230,942</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,380,957</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,008,716</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,389,143</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,231,472</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Accounts payable and other liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,559</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,559</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Total Financial Services Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269,986</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269,986</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,230,942</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,380,957</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,278,702</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,389,143</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,501,458</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Equity:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 18pt; MARGIN-TOP: 0pt">Total Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,207,586</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,009,338</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">945,080</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954,418</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,207,586</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 54pt; MARGIN-TOP: 0pt">Total Liabilities and Equity</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,438,528</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,390,295</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,223,782</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,343,561</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,709,044</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Operating Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 37.6%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Net cash provided by (used in) operating activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(287,435</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,744</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">147,216</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(123,475</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Investing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Investments in unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(79</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32,955</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33,212</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Distributions of capital from unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">500</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,867</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,403</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,770</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Net cash paid for acquisitions</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44,477</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44,477</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan to parent and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,098</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,496</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,113</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,776</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(139,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(76,032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Financing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Change in restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(794</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(794</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Borrowings from revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685,550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685,550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(389,950</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(389,950</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(909</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(909</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payment on senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(483,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(483,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Proceeds from the issuance of senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579,125</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579,125</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Payment of debt issuance costs</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan from subsidiary</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Net proceeds from (payments on) mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(94,641</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(94,641</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">(Contributions to) distributions from Corporate and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,210</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,210</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Repurchases of common stock</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(150,014</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(150,014</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Common stock dividend payments</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,427</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Issuance of common stock under employee stock plans, net of tax withholdings</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Intercompany advances, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74,078</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,759</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">97,837</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">209,644</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,759</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">216</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(65,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,047</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net increase (decrease) in cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(79,567</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,746</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,853</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(78,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at beginning of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,261</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38,211</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">64,655</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">208,127</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at end of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,694</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,465</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72,508</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129,667</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-Guarantor<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Operating Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 36.7%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Net cash provided by (used in) operating activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49,169</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,087</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,744</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167,662</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Investing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Investments in unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(235</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(192</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(26,573</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(27,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Distributions of capital from unconsolidated homebuilding joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,107</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,287</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,727</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan to parent and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(325</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,958</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,106</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,389</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) investing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">547</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,817</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(96,192</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,662</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Cash Flows From Financing Activities:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Change in restricted cash</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,309</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,309</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Borrowings from revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,008,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,008,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on revolving credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(862,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(862,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on secured project debt and other notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,985</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(404</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,389</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Principal payments on senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(280,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(280,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Proceeds from the issuance of senior notes payable</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300,000</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Payment of debt issue costs</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,657</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,657</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Loan from subsidiary</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Net proceeds from (payments on) mortgage credit facility</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(141,524</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(141,524</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">(Contributions to) distributions from Corporate and subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,350</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,350</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Repurchases of common stock</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(137,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(137,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Common stock dividend payments</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,264</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,264</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Issuance of common stock under employee stock plans, net of tax withholdings</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,868</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,868</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(199</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(199</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Intercompany advances, net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49,757</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,992</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,235</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt">Net cash provided by (used in) financing activities</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">160,405</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(96,191</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(106,734</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(88,800</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(131,320</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net increase (decrease) in cash and equivalents</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,783</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(81,921</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,182</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,680</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at beginning of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,387</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112,852</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,355</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">186,594</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Cash and equivalents at end of period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,170</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,931</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65,173</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">214,274</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">647,336</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">632,262</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236,245</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,515,843</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(528,858</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(505,367</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,483</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,212,708</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,478</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126,895</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">303,135</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68,237</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(80,147</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(20,045</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(168,429</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">981</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">252</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,193</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,426</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(326</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,714</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(287</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,763</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,238</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,118</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,194</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44,347</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138,894</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,278</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,278</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,118</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,194</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51,625</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146,172</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22,788</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12,266</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52,820</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,352</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,406</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,359</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(62,765</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,352</div></td> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended September 30, 2016</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor </div></div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">707,397</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">656,095</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307,466</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670,958</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(561,856</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(520,810</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(213,600</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,296,266</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">145,541</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135,285</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,866</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">374,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,217</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,834</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,764</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(170,815</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(717</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,904</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,075</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(886</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(189</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,602</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">195</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,169</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,847</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">76,012</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,939</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,807</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,847</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85,819</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">210,746</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30,112</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,111</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25,175</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(78,398</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 40%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,736</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,644</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(95,380</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor</div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,955,915</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,835,567</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">683,174</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,474,656</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,592,317</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,468,154</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(512,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,572,819</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 36.8%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">363,598</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">367,413</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">170,826</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">901,837</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(203,674</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(237,232</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(57,796</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(498,702</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,006</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">550</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,204</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,760</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,439</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,724</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(715</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,612</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(543</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,073</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,082</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">128,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">125,592</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">408,813</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,475</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,475</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">333,519</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">128,464</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">149,067</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">432,288</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(58,553</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61,411</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(37,358</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(157,322</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274,966</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,053</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111,709</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178,762</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274,966</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30, 2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">CalAtlantic<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Guarantor </div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Non-<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Guarantor </div></div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidating</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Adjustments</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Consolidated<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CalAtlantic<br />Group, Inc.</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="18"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Homebuilding:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Revenues</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,817,935</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,866,598</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">750,470</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,435,003</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Cost of sales</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,451,579</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,486,644</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(533,543</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,471,766</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 36.9%"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Gross margin</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">366,356</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">379,954</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">216,927</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">963,237</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Selling, general and administrative expenses</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(201,503</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(220,595</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(51,112</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(473,210</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Income (loss) from unconsolidated joint ventures</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">444</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,170</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Equity income of subsidiaries</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest income (expense), net</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,685</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,785</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(900</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Other income (expense)</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,885</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,241</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">134</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,992</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 36pt; MARGIN-TOP: 0pt">Homebuilding pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387,096</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">155,777</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167,219</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,678</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;">Financial Services:</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;"><div style="display: inline; font-weight: bold;">&nbsp;</div></td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Financial services pretax income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,889</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,889</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Income before taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387,096</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">155,777</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">192,108</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">505,567</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Provision for income taxes</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(69,327</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(66,659</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(51,812</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(187,798</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; TEXT-ALIGN: left; MARGIN: 0pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,769</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89,118</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">140,296</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(229,414</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,769</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30,<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">8.4% Senior Notes due May 2017</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">235,175</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">8.375% Senior Notes due May 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">574,784</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">574,501</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">1.625% Convertible Senior Notes due May 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">222,757</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">220,236</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">0.25% Convertible Senior notes due June 2019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">258,035</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253,777</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">6.625% Senior Notes due May 2020</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">315,430</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">319,909</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">8.375% Senior Notes due January 2021</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">396,087</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">395,246</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">6.25% Senior Notes due December 2021</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">297,980</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">297,623</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.375% Senior Notes due October 2022</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">249,331</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">249,230</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.875% Senior Notes due November 2024</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">426,558</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">296,982</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.25% Senior Notes due June 2026</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">395,323</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">297,483</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">5.00% Senior Notes due June 2027</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">347,103</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">1.25% Convertible Senior Notes due August 2032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">252,046</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,483,388</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,392,208</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 95%; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 5%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands, except per share amounts)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 48%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Numerator:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Net income</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,352</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,348</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274,966</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,769</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Less: Net income allocated to unvested restricted stock</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(400</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(294</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,104</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(635</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; TEXT-INDENT: -9pt">Net income available to common stockholders for basic earnings per common share</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">92,952</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,054</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">273,862</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317,134</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Effect of dilutive securities:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest on 1.625% convertible senior notes due 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,123</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,088</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest on 0.25% convertible senior notes due 2019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,016</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">984</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Interest on 1.25% convertible senior notes due 2032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">752</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">744</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; TEXT-INDENT: -9pt">Net income available to common stock for diluted earnings per share</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93,179</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132,289</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">276,753</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">319,950</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 48%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Denominator:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Weighted average basic common shares outstanding</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110,205,460</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118,338,891</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112,778,362</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">119,188,145</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Effect of dilutive securities:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">Share-based awards</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">875,214</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">643,602</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">881,500</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">605,860</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">1.625% convertible senior notes due 2018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,174,013</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,165,845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,174,013</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,165,845</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">0.25% convertible senior notes due 2019</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,642,200</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,638,080</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,642,200</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,638,080</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt">1.25% convertible senior notes due 2032</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553,025</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,290,997</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,045,404</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,290,997</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Weighted average diluted shares outstanding</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">124,449,912</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136,077,415</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129,521,479</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136,888,927</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="WIDTH: 48%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Income per common share:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Basic</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.84</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.12</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.43</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.66</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 48%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Diluted</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.75</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.97</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.14</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 10%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.34</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended September 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty accrual, beginning of the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43,932</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40,691</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty costs accrued during the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,097</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,903</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty costs paid during the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,303</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15,088</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Warranty accrual, end of the period</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,726</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42,506</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding revenues:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282,591</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">283,060</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">848,438</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">710,889</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">427,244</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">400,720</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,207,616</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,065,038</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356,952</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">389,160</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099,803</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,165,797</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">449,056</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">598,018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,318,799</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,493,279</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding revenues</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,515,843</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670,958</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,474,656</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,435,003</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding pretax income (1):</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,895</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,627</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74,492</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,177</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,094</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,303</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85,695</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">84,125</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,648</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,312</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100,757</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113,145</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51,257</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,697</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">147,869</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230,231</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding pretax income</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138,894</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,939</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">408,813</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,678</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding income (loss) from unconsolidated joint ventures:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">525</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">486</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">437</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">252</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">515</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">869</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,096</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,074</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,720</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">851</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding income (loss) from unconsolidated joint ventures</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,426</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,760</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table></div> 43150000 27579000 424662000 17018000 -398530000 359025000 3480000 -334926000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.</div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Segment Reporting </div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We operate <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> principal businesses: homebuilding and financial services.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes. In accordance with ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">280,</div> <div style="display: inline; font-style: italic;">Segment Reporting</div> (&quot;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">280&quot;</div>), we have determined that each of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> homebuilding regions and financial services operations (consisting of our mortgage financing and title operations) are our operating segments. Our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> homebuilding reportable segments include: North, consisting of our divisions in Georgia, Delaware, Illinois, Indiana, Maryland, Minnesota, New Jersey, Pennsylvania, Virginia and Washington D.C.; Southeast, consisting of our divisions in Florida and the Carolinas; Southwest, consisting of our divisions in Texas, Colorado, Nevada and Utah; and West, consisting of our divisions in California, Arizona and Washington.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our mortgage financing operation, CalAtlantic Mortgage, provides mortgage financing to many of our homebuyers in substantially all of the markets in which we operate, and sells substantially all of the loans it originates in the secondary mortgage market. Our title, escrow and insurance subsidiaries provide title, escrow and insurance services to homebuyers in many of our markets. Our mortgage financing, title, escrow and insurance services operations are included in our financial services reportable segment, which is separately reported in our condensed consolidated financial statements under &quot;Financial Services.&quot;</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance and treasury, information technology, insurance and risk management, litigation, marketing and human resources. Corporate also provides the necessary administrative functions to support us as a publicly traded company. All of the expenses incurred by Corporate are allocated to each of our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> homebuilding regions based on their respective percentage of revenues.</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24pt">Segment financial information relating to the Company<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2019;s homebuilding operations was as follows:</div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Nine Months Ended<br /><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">September 30,</div></div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="14"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding revenues:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282,591</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">283,060</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">848,438</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">710,889</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">427,244</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">400,720</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,207,616</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,065,038</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356,952</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">389,160</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099,803</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,165,797</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">449,056</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">598,018</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,318,799</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,493,279</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding revenues</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,515,843</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670,958</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,474,656</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,435,003</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding pretax income (1):</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,895</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,627</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74,492</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,177</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,094</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,303</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85,695</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">84,125</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,648</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,312</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100,757</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113,145</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51,257</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,697</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">147,869</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230,231</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding pretax income</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138,894</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200,939</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">408,813</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,678</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 52%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding income (loss) from unconsolidated joint ventures:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">525</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">486</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: right; MARGIN: 0pt">&nbsp;</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2015;</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">437</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">252</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">515</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">869</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,096</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,074</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,720</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">851</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 52%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding income (loss) from unconsolidated joint ventures</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,426</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,760</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 9%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,643</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <hr align="left" style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 10%; BORDER-BOTTOM: medium none; COLOR: #000000; MARGIN: 3pt auto 3pt 0px; BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" /> <table style="TEXT-INDENT: 0;FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt">&nbsp;</td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)</div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-RIGHT: 0pt">Homebuilding pretax income includes depreciation and amortization expense of $<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4.5</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2.3</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.3</div> million, respectively, in the North, Southeast, Southwest and West for the quarter ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.7</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4.2</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2.8</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7.1</div> million, respectively, in the North, Southeast, Southwest and West for the quarter ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2016. </div>Homebuilding pretax income includes depreciation and amortization expense of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.6</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$12.2</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7.8</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$16.1</div> million, respectively, in the North, Southeast, Southwest and West for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4.5</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$11.2</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8.6</div> million and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$18.9</div> million, respectively, in the North, Southeast, Southwest and West for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 30, 2016.</div></div></div></td> </tr> </table> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">Segment financial information relating to the Company<div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#x2019;s homebuilding assets was as follows: </div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">&nbsp;</div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 80%; MARGIN-LEFT: 10%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px; min-width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">September 30,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="2"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colspan="6"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">(Dollars in thousands)</div></div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding assets:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,347,835</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,181,544</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,375,363</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,253,289</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,895,329</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,842,869</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,706,155</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,500,163</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Corporate</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">485,221</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">578,780</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding assets</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,809,903</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,356,645</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="WIDTH: 62%">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%; TEXT-ALIGN: left; MARGIN-LEFT: 0pt"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">Homebuilding investments in unconsolidated joint ventures:</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">North</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,829</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,691</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southeast</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">334</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">Southwest</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,855</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,085</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,238,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt">West</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">119,846</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 1px solid">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,017</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(255,255,255)"> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 62%"> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total homebuilding investments in unconsolidated joint ventures</div></div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130,692</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; BORDER-BOTTOM: rgb(0,0,0) 3px double; MARGIN-LEFT: 0pt">$</td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 16%; BORDER-BOTTOM: rgb(0,0,0) 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">127,127</div></td> <td style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;, Times, serif; WIDTH: 1%; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt" nowrap="nowrap">&nbsp;</td> </tr> </table> </div></div> 68237000 80147000 20045000 168429000 75217000 75834000 19764000 170815000 203674000 237232000 57796000 498702000 201503000 220595000 51112000 473210000 3483388000 3392208000 3483388000 3392208000 235175000 574784000 574501000 222757000 220236000 258035000 253777000 315430000 319909000 396087000 395246000 297980000 297623000 249331000 249230000 426558000 296982000 395323000 297483000 347103000 252046000 14282000 11216000 4329211000 4207586000 4329211000 1076391000 1055579000 -2131970000 4343103000 4207586000 4329211000 1076391000 1069471000 -2131970000 4207586000 1009338000 945080000 -1954418000 <div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. &nbsp;&nbsp;&nbsp;&nbsp;<div style="display: inline; text-decoration: underline;">Su</div><div style="display: inline; text-decoration: underline;">bsequent Event</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 24.5pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 29, 2017, </div>the Company <div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">and Lennar Corporation (&#x201c;Lennar&#x201d;) entered into an Agreement and Plan of Merger (the &#x201c;Merger&#x201d;).&nbsp; At the effective time of the Merger, each share of common stock of the Company issued and outstanding will be converted into and become the right to receive either (i) subject to adjustment, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.885</div> shares (as adjusted, the &#x201c;Exchange Ratio&#x201d;) of Class A common stock of Lennar (&#x201c;Lennar stock&#x201d;) or (ii) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$48.26</div> in cash.&nbsp; Holders of Company common stock will have the option to elect to receive their consideration in the Merger in cash or stock, subject to proration to the extent cash to be paid to all such holders electing to receive cash consideration would exceed <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.16</div> billion.&nbsp; At the effective time of the Merger, (i) the Company&#x2019;s options, restricted stock units and stock appreciation rights will be converted into the option to acquire or right to receive in lieu of Company common stock, the number of shares of Lennar stock, as determined in accordance with the exchange ratio, and (ii) the Company&#x2019;s convertible notes will remain outstanding and become convertible in lieu of Company common stock, the number of shares of Lennar stock, as determined in accordance with the Exchange Ratio.&nbsp; It is expected that the Merger will qualify as a tax-free reorganization for U.S. federal income tax purposes.&nbsp; The consummation of the Merger is subject to the satisfaction or waiver of certain customary conditions, including the approval of the Merger by the Company&#x2019;s stockholders and the stockholders of Lennar.&nbsp; For additional information about the Merger Agreement, reference is made to the Current Report on Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8</div>-K filed by the Company on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 30, 2017, </div>which is incorporated by reference herein.</div></div></div> 14000000 12100000 152786000 247427000 152786000 247427000 124449912 136077415 129521479 136888927 110205460 118338891 112778362 119188145 Homebuilding pretax income includes depreciation and amortization expense of $2.0 million, $4.5 million, $2.3 million and $5.3 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2017 and $1.7 million, $4.2 million, $2.8 million and $7.1 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2016. Homebuilding pretax income includes depreciation and amortization expense of $5.6 million, $12.2 million, $7.8 million and $16.1 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2017 and $4.5 million, $11.2 million, $8.6 million and $18.9 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2016. During the nine months ended September 30, 2017, we purchased $304.7 million of land (10,694 homesites), of which 27% (based on homesites) were located in the North, 34% in the Southeast, 18% in the Southwest, and 21% in the West. During the year ended December 31, 2016, we purchased $960.8 million of land (13,566 homesites), of which 25% (based on homesites) were located in the North, 25% in the Southeast, 24% in the Southwest, and 26% in the West. Total interest incurred and interest capitalized to inventories owned during the nine months ended September 30, 2016 includes a $9 million increase related to the valuation of the 1.625% convertible senior notes that was completed during the 2016 first quarter. During the three and nine months ended September 30, 2017, in connection with lot purchases from our joint ventures, $0 and $0.5 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned. xbrli:shares xbrli:pure iso4217:USD iso4217:USD xbrli:shares 0000878560 2016-01-01 2016-09-30 0000878560 us-gaap:GuarantorSubsidiariesMember us-gaap:ReportableLegalEntitiesMember 2016-01-01 2016-09-30 0000878560 us-gaap:NonGuarantorSubsidiariesMember us-gaap:ReportableLegalEntitiesMember 2016-01-01 2016-09-30 0000878560 us-gaap:ParentCompanyMember us-gaap:ReportableLegalEntitiesMember 2016-01-01 2016-09-30 0000878560 us-gaap:ConsolidationEliminationsMember 2016-01-01 2016-09-30 0000878560 caa:OnePointSixTwoFivePercentConvertibleSeniorNotesDueMay2018Member 2016-01-01 2016-09-30 0000878560 caa:OnePointTwentyFivePercentConvertibleSeniorNotesDueAugust2032Member 2016-01-01 2016-09-30 0000878560 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First Lender [Member] Repurchase Facility [Member] us-gaap_IncreaseDecreaseInAccruedLiabilities Accrued liabilities us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity Line of Credit Facility, Remaining Borrowing Capacity us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity Line of Credit Facility, Current Borrowing Capacity Restricted Cash and Cash Equivalents [Axis] Preferred stock, shares outstanding (in shares) Cash and Cash Equivalents Disclosure [Text Block] Common stock, shares outstanding (in shares) us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity Line of Credit Facility, Maximum Borrowing Capacity Subject to 382 Limitations [Member] Represents items subject to IRS Section 382 limitations. us-gaap_IncreaseDecreaseInAccountsPayable Accounts payable Basis of Accounting [Text Block] Line of Credit Facility, Lender [Domain] Lender Name [Axis] Cash and equivalents at end of period Cash and equivalents Cash and Cash Equivalents, at Carrying Value Cash and equivalents at beginning of period Cash and equivalents at end of period caa_NonrefundableCashDeposits Nonrefundable Cash Deposits Non-refundable cash deposits. caa_RemainingPurchasePriceOfLandPurchaseAndOptionContracts Remaining Purchase Price of Land Purchase and Option Contracts Remaining purchase price of land purchase and option contracts. Subsequent Events [Text Block] caa_CapitalizedPreacquisitionAndOtherDevelopmentAndConstructionCosts Capitalized Preacquisition and Other Development and Construction Costs Capitalized preacquisition and other development and construction costs relating to land purchase and option contracts. caa_NumberOfActiveJointVentures Number of Active Joint Ventures Number of active joint ventures. caa_NumberOfJointVenturesTheCompanyHoldsMembershipInterestIn Number of Joint Ventures the Company Holds Membership Interest In Number of Joint Ventures The Company Holds Membership Interest In. caa_NumberOfJointVenturesHavingProjectSpecificNonrecourseDebtToTheCompany Number of Joint Ventures Having Project Specific Non-recourse Debt to the Company Number of Joint Ventures Having Project Specific Non-recourse Debt to the Company caa_NumberOfInactiveJointVentures Number of Inactive Joint Ventures Number of inactive joint ventures. caa_OutstandingJointVentureSuretyBonds Outstanding Joint Venture Surety Bonds Joint venture surety bonds outstanding subject to indemnity arrangements by the Company. caa_SuretyBondsCostToComplete Surety Bonds Cost to Complete Remaining in cost to complete in connection with surety bonds outstanding (exclusive of surety bonds related to joint ventures). caa_OutstandingSuretyBonds Outstanding Surety Bonds Surety bonds outstanding (exclusive of surety bonds related to joint ventures). caa_MortgageLoansInProcess Mortgage Loans in Process Mortgage loans in process for which interest rates were committed to borrowers. caa_MortgageLoansInProcessInterestRate Mortgage Loans in Process, Interest Rate Weighted average interest rate of mortgage loans in process for which interest rates were committed to borrowers. caa_MortgageLoansExpectedToBeOriginatedOnANonPresoldBasis Mortgage Loans Expected to be Originated on a Non-presold Basis Mortgage loans in process that were or are expected to be originated on a non-presold basis. caa_MortgageLoansCommittedToSellToInvestors Mortgage Loans Committed to Sell to Investors Mortgage loans committed to sell to investors subject to the Company's funding and completion of the investors' administrative review of applicable loan documents. caa_MortgageLoanRepurchaseReserve Mortgage Loan Repurchase Reserve Reserve for probable loan indemnification or repurchase obligations. Debt Disclosure [Text Block] caa_MortgageLoanRepurchasePayments Mortgage Loan Repurchase Payments Payments related to loan indemnification or repurchase obligations. us-gaap_NotesPayableFairValueDisclosure Senior and convertible senior notes payable, net us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts Land and land under development Owned Total inventories owned caa_InsuranceAndLitigationAccruals Insurance and Litigation Accruals Accrual as of the balance sheet date for the estimate of insurance and litigation liabilities. Major Types of Debt Securities [Domain] Mortgage Loans in Process [Member] Not Limited by Section 382 [Member] Supplemental Guarantor Information [Text Block] Supplemental guarantor information. Debt Security [Axis] Equity income of subsidiaries Equity in net income (loss) of subsidiaries. us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets Other assets Revenues us-gaap_RealEstateRevenueNet Homebuilding revenues Total revenues Intercompany receivables Carrying amount as of the balance sheet date, net of allowance for doubtful accounts, of intercompany receivables. Investments in subsidiaries Investment in subsidiaries. Home sale revenues Homebuilding: caa_IntercompanyAdvancesNet Intercompany advances, net "The net cash inflow (outflow) from intercompany financing activities. " Land sale revenues us-gaap_AllocatedShareBasedCompensationExpense Allocated Share-based Compensation Expense Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] Cash Flow, Supplemental Disclosures [Text Block] Deferred income taxes, valuation allowance Deferred Tax Assets, Valuation Allowance Total Liabilities and Equity Total Liabilities and Equity Valuation Allowance by Deferred Tax Asset [Axis] Accumulated earnings Deferred Tax Asset [Domain] Accumulated other comprehensive income (loss), net of tax Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively Reconciliation of Assets from Segment to Consolidated [Table Text Block] Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] Revenues us-gaap_DeferredTaxAssetsGross Deferred Tax Assets, Gross Financial Services: us-gaap_DeferredTaxAssetsOther Deferred Tax Assets, Other Schedule of Segment Reporting Information, by Segment [Table Text Block] us-gaap_NumberOfReportableSegments Number of Reportable Segments us-gaap_NumberOfOperatingSegments Number of Operating Segments Interest income (expense), net Segment Reporting Disclosure [Text Block] us-gaap_IncreaseDecreaseInMortgageLoansHeldForSale Mortgage loans held for sale us-gaap_DisclosureTextBlockAbstract Notes to Financial Statements Other income (expense) Changes in cash and equivalents due to: us-gaap_OtherNoncashIncomeExpense Other operating activities us-gaap_DeferredTaxAssetsOperatingLossCarryforwards Deferred Tax Assets, Operating Loss Carryforwards us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal Deferred Tax Assets, Operating Loss Carryforwards, State and Local us-gaap_DeferredIncomeTaxesAndTaxCredits Deferred income tax provision Inventory Disclosure [Text Block] Gross margin Gross margin us-gaap_FinancialServicesCosts Expenses Amendment Flag Common stock, $0.01 par value; 600,000,000 shares authorized; 110,217,216 and 114,429,297 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively us-gaap_ProductWarrantyAccrualWarrantiesIssued Warranty costs accrued during the period us-gaap_ProductWarrantyAccrualPayments Warranty costs paid during the period Common stock, shares authorized (in shares) Common stock, shares issued (in shares) Homebuilding Operations from Seattle-based Developer [Member] An acquisition, accounted for as a business combination, of homebuilding operations from a Seattle-based developer. Common stock, par value (in dollars per share) caa_BusinessCombinationNumberOfCurrentAndFutureCommunitiesAcquired Business Combination, Number of Current and Future Communities Acquired Number of current and future communities transferred to the acquirer in a business acquisition. us-gaap_ShareBasedCompensation Amortization of stock-based compensation Current Fiscal Year End Date Document Fiscal Period Focus Document Fiscal Year Focus Document Period End Date Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued and outstanding at September 30, 2017 and December 31, 2016 Preferred stock, shares issued (in shares) Document Type Product Warranty Disclosure [Text Block] us-gaap_DepreciationDepletionAndAmortization Depreciation and amortization Preferred stock, shares authorized (in shares) Schedule of Product Warranty Liability [Table Text Block] Document Information [Line Items] Document Information [Table] Preferred stock, par value (in dollars per share) Estimate of Fair Value Measurement [Member] Entity Filer Category Entity Current Reporting Status Entity Voluntary Filers us-gaap_CostOfRealEstateRevenue Cost of sales Total cost of sales Entity Well-known Seasoned Issuer Measurement Basis [Axis] Portion at Fair Value Measurement [Member] Interest previously capitalized to inventories owned, included in cost of land sales us-gaap_HomeBuildingCosts Cost of home sales us-gaap_CostsOfRealEstateServicesAndLandSales Cost of land sales Adjustments to reconcile net income to net cash provided by (used in) operating activities: Entity Central Index Key Entity Registrant Name Entity [Domain] Legal Entity [Axis] Noncontrolling Interest Stockholders' Equity Attributable to Noncontrolling Interest us-gaap_MortgagesHeldForSaleFairValueDisclosure Mortgage loans held for sale Entity Common Stock, Shares Outstanding (in shares) us-gaap_IncomeTaxesPaid Income taxes Additional paid-in capital Municipal Bond and Metropolitan District Securities [Member] Refers to information regarding the municipal bond and metropolitan district securities. Stockholders' Equity: Trading Symbol us-gaap_LettersOfCreditOutstandingAmount Letters of Credit Outstanding, Amount caa_DebtInstrumentIncreaseDecreaseInInterestIncurredNetOfInterestCapitalizedValuationOfBusinessCombination Debt Instrument, Increase (Decrease) In Interest Incurred, Net of Interest Capitalized, Valuation of Business Combination Increase for accrued, but unpaid interest, net of capitalized interest costs, on the debt instrument for the period due to valuation for the debt instrument after a business combination. Other comprehensive income, net of tax: Total Stockholders' Equity Total Stockholders' Equity Total liabilities Total liabilities Inventories: Distributions of capital from unconsolidated homebuilding joint ventures Cash Flows From Operating Activities: Repurchase Agreements and Similar Transactions, Maturity Periods [Axis] Repurchase Agreements and Similar Transactions, Maturity Periods [Domain] Statement [Line Items] Accounts payable and other liabilities Unrealized gain on marketable securities, available for sale Accrued liabilities Fair Value Disclosures [Text Block] Accounts payable Cash and equivalents and restricted cash at end of period ASSETS Net cash provided by (used in) financing activities us-gaap_NetCashProvidedByUsedInFinancingActivities Net cash provided by (used in) financing activities us-gaap_ProductWarrantyAccrual Warranty accrual Warranty accrual Net cash provided by (used in) investing activities us-gaap_NetCashProvidedByUsedInInvestingActivities Net cash provided by (used in) investing activities Net cash provided by (used in) operating activities us-gaap_NetCashProvidedByUsedInOperatingActivities Net cash provided by (used in) operating activities Net increase (decrease) in cash and equivalents us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease Net increase (decrease) in cash and equivalents Income before taxes Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Income before taxes Total Equity Total Equity Other financing activities Business Acquisition, Acquiree [Domain] Business Acquisition [Axis] Equity Method Investments and Joint Ventures Disclosure [Text Block] us-gaap_PaymentsOfDividendsCommonStock Common stock dividend payments Senior notes payable us-gaap_PaymentsForRepurchaseOfCommonStock Repurchases of common stock Fair Value, Inputs, Level 2 [Member] Fair Value, Inputs, Level 3 [Member] Revolving credit facility Long-term Line of Credit Fair Value Hierarchy [Domain] Fair Value, Hierarchy [Axis] Cash Dividends Declared Per Common Share (in dollars per share) Equity Component [Domain] Secured project debt and other notes payable Secured Debt caa_InventoryRealEstateLandAndLandDevelopmentCostsLandPurchasedDuringPeriod Inventory, Real Estate, Land and Land Development Costs, Land Purchased During Period Represents the value of land purchased during the period, for development for purposes of selling completed units to home buyers or commercial or industrial entities. Equity Components [Axis] caa_InventoryRealEstateLandPurchasedDuringPeriodPercentageOfHomesitesIncludedInACertainCategory Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category Represents the percentage of land purchased during the period that is allocated (based on homesites) to a certain category. This may include, but is not limited to, a percentage of one or more of the following: segments, subsegments, or geographical regions. caa_InventoryRealEstateNumberOfHomesitesPurchasedDuringThePeriod Inventory, Real Estate, Number of Homesites Purchased During the Period Represents the land purchased during the period, for development, expressed in terms of the number of homesites. Mortgage credit facility Warehouse Agreement Borrowings us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding Diluted (in shares) us-gaap_PaymentsOfDebtIssuanceCosts Payment of debt issuance costs us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax Gross unrealized losses Amortized cost Diluted (in dollars per share) us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other Weighted average basic common shares outstanding (in shares) Basic (in shares) Basic (in dollars per share) Scenario, Unspecified [Domain] us-gaap_RepaymentsOfSeniorDebt Repayments of Senior Debt Principal payment on senior notes payable Scenario [Axis] us-gaap_RepaymentsOfSecuredDebt Principal payments on secured project debt and other notes payable us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory Consolidation, Eliminations [Member] Reportable Legal Entities [Member] Loan from subsidiary 1.625% Convertible Senior Notes due May 2018 [Member] Information pertaining to the 1.625% Convertible Senior Notes due May 2018. Corporate, Non-Segment [Member] Proceeds from the issuance of senior notes payable Proceeds from Issuance of Senior Long-term Debt us-gaap_BusinessCombinationConsiderationTransferred1 Business Combination, Consideration Transferred Consolidation Items [Domain] Consolidation Items [Axis] 5.25% Senior Notes due June 2026 [Member] Represents information pertaining to the 5.25% Senior Notes due 2026, which are senior unsecured obligations of the Company and are guaranteed by the guarantors of other senior notes on a senior unsecured basis. us-gaap_OpenTaxYear Open Tax Year us-gaap_UnrecognizedTaxBenefits Unrecognized Tax Benefits Accounting Policies [Abstract] Parent Company [Member] Statement of Financial Position [Abstract] Non-Guarantor Subsidiaries [Member] Guarantor Subsidiaries [Member] Consolidated Entities [Domain] Consolidated Entities [Axis] us-gaap_BusinessAcquisitionSharePrice Business Acquisition, Share Price us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue Maturing in one year or less Condensed Cash Flow Statement [Table Text Block] Statement of Cash Flows [Abstract] Latest Tax Year [Member] Earliest Tax Year [Member] Condensed Income Statement [Table Text Block] Condensed Balance Sheet [Table Text Block] us-gaap_RepaymentsOfLinesOfCredit Principal payments on revolving credit facility Borrowings from revolving credit facility Issuance of common stock under employee stock plans, net of tax withholdings The cash inflow (outflow) associated with the issuance of common stock under employee stock plans. Tax Period [Domain] Tax Period [Axis] Investments Classified by Contractual Maturity Date [Table Text Block] Schedule of Available-for-sale Securities Reconciliation [Table Text Block] Mortgage Loans on Real Estate, Loan Type [Domain] Fair Value, Assets Measured on Recurring Basis [Table Text Block] Mortgage Loans on Real Estate, Loan Type [Axis] Income (loss) from unconsolidated joint ventures Homebuilding income (loss) from unconsolidated joint ventures (Income) loss from unconsolidated joint ventures us-gaap_IncomeTaxExpenseBenefit Income Tax Expense (Benefit) Provision for income taxes Subsegments [Domain] (Contributions to) distributions from Corporate and subsidiaries Subsegments [Axis] Segments [Axis] Segments [Domain] us-gaap_PolicyTextBlockAbstract Accounting Policies US States and Political Subdivisions Debt Securities [Member] Credit Facility [Domain] Statement [Table] Available-for-sale Securities [Member] Credit Facility [Axis] Cash Flows From Financing Activities: Income Statement [Abstract] us-gaap_PaymentsForProceedsFromOtherInvestingActivities Other investing activities Common Class A [Member] Class of Stock [Domain] Class of Stock [Axis] Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] caa_MortgageLoansHeldForInvestmentNetFairValueDisclosure Mortgage loans held for investment, net Fair value portion of mortgage loans held for investment, net. us-gaap_RealizedInvestmentGainsLosses Realized Investment Gains (Losses) us-gaap_PaymentsToAcquireInterestInJointVenture Investments in unconsolidated homebuilding joint ventures Inventory [Domain] Inventory [Axis] Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired Net cash paid for acquisitions Schedule of Debt [Table Text Block] State and Local Net Operating Loss Carryforwards Limited to Shorter Carryforward Periods [Member] Operating loss carryfowards that are limited to shorter carryforward periods. 5.00% Senior Notes Due 2027 [Member] Information pertaining to the 5.00% Senior Notes due 2027. North [Member] Represents the North reporting segment. Held in Cash Collateral Accounts [Member] Represents information pertaining to amounts held in cash collateral accounts. caa_GainLossOnMortgageLoanRelatedToIndemnificationAndRepurchaseAllowance Gain (Loss) on Mortgage Loan Related to Indemnification and Repurchase Allowance Represents the amount of gain (loss) on mortgage loan related to indemnification and repurchase allowance. 0.25% Convertible Senior Notes Due June 2019 [Member] Information pertaining to the 0.25% Convertible Senior Notes due June 2019. Financial Service Subsidiary Mortgage Credit Facilities [Member] Represents information pertaining to financial services subsidiary mortgage credit facilities. Cash From Home Closings in Escrow [Member] Refers to information regarding cash from home closings in an Escrow. caa_AvailableForSaleSecuritiesDebtMaturitiesAfterThreeYearsFairValue Maturing after three years Fair value of available-for-sale debt securities maturing after the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Funds Held in Trust for Third Parties [Member] Represents information pertaining to funds held in trust for third parties. caa_IncreaseInSecuredProjectDebtRelatedToSellerFinancedInventoryPurchases Increase in secured project debt for assets acquired The increase in secured project debt related to seller financed inventory purchases in noncash investing and financing activities. Lenmar Corporation [Member] Refers to information regarding the entity Lenmar Corporation. caa_DebtInstrumentConvertibleConditionOfRedemptionStockPriceThresholdTradingPeriodNumberOfTradingDaysNumberOfTradingDaysImmediatelyPrecedingTheDateOnWhichNoticeOfRedemptionIsProvided Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold, Trading Period, Number of Trading Days, Number of Trading Days Immediately Preceding the Date On Which Notice of Redemption is Provided Represents the number of trading days immediately preceding the date on which the Company provides notice of redemption, with regard to the consecutive trading days that constitute the trading period, within which there must be a specified number of trading days (whether or not consecutive) for which the stock price exceeds a specified threshold in order for the Company to have the option to redeem the convertible debt instrument for cash. Commitments and Contingencies Disclosure [Text Block] caa_BusinessCombinationThresholdAmountAllowedToBePaidForCashConversionOfCommonStockBeforeItIsSubjectToProration Business Combination, Threshold Amount Allowed to be Paid For Cash Conversion of Common Stock Before it is Subject to Proration The threshold amount allowed to be paid in a business combination regarding the cash conversion of common stock from the nonsurviving entity. caa_DebtInstrumentConvertibleConditionOfRedemptionStockPriceThreshold Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold Represents the common stock price which must be exceeded for a specified number of trading days within a specified period in order for the Company to have the option to redeem the convertible debt instrument for cash. Income Tax Disclosure [Text Block] us-gaap_InterestCostsCapitalized Less: Interest capitalized to inventories owned Letter of Credit [Member] 5.375% Senior Notes Due October 2022 [Member] Information pertaining to the 5.375% Senior Notes due October 2022. 8.4% Senior Notes Due May 2017 [Member] Information pertaining to 8.4% Senior Notes due May 2017. Maturing January 2017 [Member] Credit facility that matures in June 2017. Metropolitan District Bond Securities [Member] Represents information pertaining to metropolitan district bond securities. us-gaap_AssetImpairmentCharges Asset Impairment Charges 6.625% Senior Notes due May 2020 [Member] Information pertaining to the 6.625% Senior Notes due May 2020. us-gaap_ImpairmentOfRealEstate Impairment of Real Estate us-gaap_LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage us-gaap_DepreciationAndAmortization Depreciation, Depletion and Amortization, Nonproduction Interest on convertible senior notes (in shares) Share-based awards (in shares) Change in restricted cash Weighted Average Common Shares Outstanding: Net income available to common stockholders for basic earnings per common share Net income available to common stockholders Net income available to common stock for diluted earnings per share LIABILITIES AND EQUITY Total assets Total assets Assets us-gaap_LongTermDebtPercentageBearingFixedInterestRate Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate Effect of dilutive securities: Interest on convertible senior notes us-gaap_DebtInstrumentRedemptionPricePercentage Debt Instrument, Redemption Price, Percentage Net income Net income us-gaap_SellingGeneralAndAdministrativeExpense Selling, general and administrative expenses Other assets us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition Homebuilding pretax income Homebuilding pretax income Homebuilding pretax income This element represents the income or loss from continuing operations attributable to the Homebuilding segment, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. caa_NetIncomeLossAllocatedToUnvestedRestrictedStock Less: Net income allocated to unvested restricted stock Net income (loss) allocated to unvested restricted stock. Financial services pretax income Financial services pretax income This element represents the income or loss from continuing operations attributable to the Financial Services segment, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Restricted cash Restricted Cash and Cash Equivalents Weighted average diluted shares outstanding (in shares) Total weighted average diluted common shares outstanding if preferred shares converted to common shares. Financial Services [Member] Represents information pertaining to the Financial Services segment, or otherwise pertaining to financial services. us-gaap_DebtInstrumentConvertibleThresholdConsecutiveTradingDays1 Debt Instrument, Convertible, Threshold Consecutive Trading Days Homebuilding [Member] Represents information pertaining to the Homebuilding segment, or otherwise pertaining to homebuilding. us-gaap_DebtInstrumentConvertibleThresholdTradingDays Debt Instrument, Convertible, Threshold Trading Days Not owned The carrying amount as of the balance sheet date of inventory not owned, consisting of refundable and non-refundable deposits, and specific performance contracts required to be consolidated us-gaap_DebtInstrumentConvertibleConversionPrice1 Debt Instrument, Convertible, Conversion Price Mortgage loans held for sale, net Carrying amount of mortgage loans to individuals not classified as held for investment but are held-for-sale, offset by reserves for probable loan indemnification or repurchase obligations us-gaap_DebtInstrumentConvertibleConversionRatio1 Debt Instrument, Convertible, Conversion Ratio Disclosure of Compensation Related Costs, Share-based Payments [Text Block] Statement of Comprehensive Income [Abstract] caa_IncreaseDecreaseInInventoryRealEstateOwned Inventories - owned The increase (decrease) during the reporting period in the net carrying amount of the sum of the various components of an operative builder's inventory, including finished homes. Operative builders primarily consist of entities that develop land, construct residential homes and commercial and industrial buildings thereon, and sell them to home buyers and operators of the commercial and industrial properties. caa_ProceedsFromPaymentsOnMortgageCreditFacilities Net proceeds from (payments on) mortgage credit facility The net cash inflow or outflow associated with short-term borrowings under a revolving line of credit used by mortgage bankers to finance the origination or purchase of loans. caa_IncreaseDecreaseInInventoryRealEstateNotOwned Inventories - not owned The increase (decrease) during the reporting period in inventory not owned, consisting of refundable and non-refundable deposits, and specific performance contracts required to be consolidated Interest expense Supplemental Disclosures of Cash Flow Information: Goodwill Goodwill Standard Pacific [Member] The legal entity Standard Pacific. Unsecured Revolving Credit Facility [Member] Represents information pertaining to an unsecured revolving credit facility. caa_BusinessCombinationConversionRatio Business Combination Conversion Ratio Ratio applied for the conversion of the parent company's stock to the surviving company. Southeast [Member] Represents the Southeast reporting segment. Debt Instrument [Axis] Recent Accounting Pronouncements [Text Block] The entire disclosure for all recent accounting pronouncements of the reporting entity. West [Member] Represents the West reporting segment. Southwest [Member] Represents the Southwest reporting segment. Debt Instrument, Name [Domain] 1.25% Convertible Senior Notes Due August 2032 [Member] Represents information pertaining to 1.25% Convertible Senior Notes due August 2032. us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 Debt Instrument, Basis Spread on Variable Rate caa_NumberOfActiveAndFutureProjectsOwned Number of Active and Future Projects Owned The number of active and future projects owned. Interest rate Debt Instrument, Interest Rate, Stated Percentage us-gaap_TableTextBlock Notes Tables Inventories Owned [Table Text Block] Tabular disclosure of inventories owned. caa_HomesCompletedAndUnderConstruction Homes completed and under construction The carrying amount as of the balance sheet date of homes that have been finished and are ready for sale, net of valuation allowance and impairment loss and of capitalized construction costs of homes for future sale. us-gaap_PaymentsToFundLongtermLoansToRelatedParties Loan to parent and subsidiaries caa_CapitalizedInterestTransferredFromInvestmentsInUnconsolidatedJointVenturesToInventoriesOwned Capitalized Interest Transferred from Investments in Unconsolidated Joint Ventures to Inventories Owned Capitalized interest transferred from investments in unconsolidated joint ventures to inventories owned. Home Building Interest [Text Block] The entire disclosure for home building interest and home building interest capitalization. caa_InterestCapitalizedToInvestmentsInUnconsolidatedJointVentures Less: Interest capitalized to investments in unconsolidated joint ventures Interest capitalized to investments in unconsolidated joint ventures. us-gaap_DebtInstrumentFaceAmount Debt Instrument, Face Amount Schedule of Capitalized Interest [Table Text Block] Tabular disclosure of capitalized interest. Mortgage loans held for investment, net Interest capitalized as a percentage of inventories owned Interest capitalized as a percentage of inventories owned. Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures Interest previously capitalized to investments in unconsolidated joint ventures, included in income/loss from unconsolidated joint ventures. Interest capitalized as a percentage of investments in unconsolidated joint ventures Interest capitalized as a percentage of investments in unconsolidated joint ventures. Interest capitalized in ending investments in unconsolidated joint ventures Interest capitalized in ending investments in unconsolidated joint ventures. Earnings Per Share [Text Block] Income Per Common Share: EX-101.PRE 10 caa-20170930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.8.0.1
Document And Entity Information - shares
 9 Months Ended
Sep. 30, 2017
Nov. 08, 2017
Document Information [Line Items]    
Entity Registrant Name CalAtlantic Group, Inc.  
Entity Central Index Key 0000878560  
Trading Symbol caa  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Well-known Seasoned Issuer Yes  
Entity Common Stock, Shares Outstanding (in shares)   110,334,484
Document Type 10-Q  
Document Period End Date Sep. 30, 2017  
Document Fiscal Year Focus 2017  
Document Fiscal Period Focus Q3  
Amendment Flag false  
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Homebuilding:        
Home sale revenues $ 1,515,167 $ 1,665,030 $ 4,473,480 $ 4,402,896
Land sale revenues 676 5,928 1,176 32,107
Total revenues 1,515,843 1,670,958 4,474,656 4,435,003
Cost of home sales (1,212,468) (1,290,628) (3,572,572) (3,440,549)
Cost of land sales (240) (5,638) (247) (31,217)
Total cost of sales (1,212,708) (1,296,266) (3,572,819) (3,471,766)
Gross margin 303,135 374,692 901,837 963,237
Selling, general and administrative expenses (168,429) (170,815) (498,702) (473,210)
Income (loss) from unconsolidated joint ventures 5,426 1,231 9,760 2,643
Other income (expense) (1,238) (4,169) (4,082) (11,992)
Homebuilding pretax income 138,894 200,939 408,813 480,678
Financial Services:        
Revenues 20,161 21,433 60,394 59,524
Expenses (12,883) (11,626) (36,919) (34,635)
Financial services pretax income 7,278 9,807 23,475 24,889
Income before taxes 146,172 210,746 432,288 505,567
Provision for income taxes (52,820) (78,398) (157,322) (187,798)
Net income 93,352 132,348 274,966 317,769
Less: Net income allocated to unvested restricted stock (400) (294) (1,104) (635)
Net income available to common stockholders $ 92,952 $ 132,054 $ 273,862 $ 317,134
Income Per Common Share:        
Basic (in dollars per share) $ 0.84 $ 1.12 $ 2.43 $ 2.66
Diluted (in dollars per share) $ 0.75 $ 0.97 $ 2.14 $ 2.34
Weighted Average Common Shares Outstanding:        
Basic (in shares) 110,205,460 118,338,891 112,778,362 119,188,145
Diluted (in shares) 124,449,912 136,077,415 129,521,479 136,888,927
Cash Dividends Declared Per Common Share (in dollars per share) $ 0.04 $ 0.04 $ 0.12 $ 0.12
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net income $ 93,352 $ 132,348 $ 274,966 $ 317,769
Other comprehensive income, net of tax:        
Unrealized gain on marketable securities, available for sale 39
Total comprehensive income $ 93,352 $ 132,348 $ 274,966 $ 317,808
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Cash and equivalents $ 129,667 $ 208,127
Inventories:    
Total assets 9,079,034 8,709,044
Cash and equivalents 129,667 208,127
Total assets 9,079,034 8,709,044
LIABILITIES AND EQUITY    
Total liabilities 4,735,931 4,501,458
Total liabilities 4,735,931 4,501,458
Stockholders' Equity:    
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued and outstanding at September 30, 2017 and December 31, 2016
Common stock, $0.01 par value; 600,000,000 shares authorized; 110,217,216 and 114,429,297 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 1,102 1,144
Additional paid-in capital 3,064,963 3,204,835
Accumulated earnings 1,263,318 1,001,779
Accumulated other comprehensive income (loss), net of tax (172) (172)
Total Stockholders' Equity 4,329,211 4,207,586
Noncontrolling Interest 13,892
Total Equity 4,343,103 4,207,586
Total Liabilities and Equity 9,079,034 8,709,044
Homebuilding [Member]    
ASSETS    
Cash and equivalents 83,310 191,086
Restricted cash 29,620 28,321
Inventories:    
Owned 6,946,766 6,438,792
Not owned 91,944 66,267
Investments in unconsolidated joint ventures 130,692 127,127
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively 307,251 330,378
Goodwill 985,185 970,185
Other assets 235,135 204,489
Total assets 8,809,903 8,356,645
Cash and equivalents 83,310 191,086
Restricted cash 29,620 28,321
Total assets 8,809,903 8,356,645
LIABILITIES AND EQUITY    
Accounts payable 177,752 211,780
Accrued liabilities 562,424 599,905
Revolving credit facility 295,600
Secured project debt and other notes payable 43,150 27,579
Senior notes payable 3,483,388 3,392,208
Total liabilities 4,562,314 4,231,472
Total liabilities 4,562,314 4,231,472
Financial Services [Member]    
ASSETS    
Cash and equivalents 46,357 17,041
Restricted cash 21,205 21,710
Inventories:    
Other assets 15,991 26,666
Total assets 269,131 352,399
Cash and equivalents 46,357 17,041
Restricted cash 21,205 21,710
Mortgage loans held for sale, net 160,068 262,058
Mortgage loans held for investment, net 25,510 24,924
Total assets 269,131 352,399
LIABILITIES AND EQUITY    
Total liabilities 173,617 269,986
Accounts payable and other liabilities 20,831 22,559
Mortgage credit facility 152,786 247,427
Total liabilities $ 173,617 $ 269,986
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000 600,000,000
Common stock, shares issued (in shares) 110,217,216 114,429,297
Common stock, shares outstanding (in shares) 110,217,216 114,429,297
Homebuilding [Member]    
Deferred income taxes, valuation allowance $ 1,925 $ 2,456
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net income $ 274,966,000 $ 317,769,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Income) loss from unconsolidated joint ventures (9,760,000) (2,643,000)
Depreciation and amortization 41,818,000 43,193,000
Amortization of stock-based compensation 14,282,000 11,216,000
Deferred income tax provision 22,972,000 8,118,000
Other operating activities 7,062,000 100,000
Changes in cash and equivalents due to:    
Mortgage loans held for sale 101,968,000 154,622,000
Inventories - owned (450,620,000) (366,095,000)
Inventories - not owned (56,722,000) (29,192,000)
Other assets (12,206,000) 7,665,000
Accounts payable (34,028,000) 13,122,000
Accrued liabilities (23,207,000) 9,787,000
Net cash provided by (used in) operating activities (123,475,000) 167,662,000
Cash Flows From Investing Activities:    
Investments in unconsolidated homebuilding joint ventures (33,212,000) (27,000,000)
Distributions of capital from unconsolidated homebuilding joint ventures 12,770,000 23,727,000
Net cash paid for acquisitions (44,477,000)
Other investing activities (11,113,000) (5,389,000)
Net cash provided by (used in) investing activities (76,032,000) (8,662,000)
Cash Flows From Financing Activities:    
Change in restricted cash (794,000) 7,309,000
Borrowings from revolving credit facility 685,550,000 1,008,000,000
Principal payments on revolving credit facility (389,950,000) (862,000,000)
Principal payments on secured project debt and other notes payable (909,000) (10,389,000)
Principal payment on senior notes payable (483,000,000) (280,000,000)
Proceeds from the issuance of senior notes payable 579,125,000 300,000,000
Payment of debt issuance costs (5,019,000) (2,657,000)
Net proceeds from (payments on) mortgage credit facility (94,641,000) (141,524,000)
Repurchases of common stock (150,014,000) (137,464,000)
Common stock dividend payments (13,427,000) (14,264,000)
Issuance of common stock under employee stock plans, net of tax withholdings (5,807,000) 1,868,000
Other financing activities (67,000) (199,000)
Net cash provided by (used in) financing activities 121,047,000 (131,320,000)
Net increase (decrease) in cash and equivalents (78,460,000) 27,680,000
Cash and equivalents at beginning of period 208,127,000 186,594,000
Cash and equivalents at end of period 129,667,000 214,274,000
Cash and equivalents at end of period 208,127,000 186,594,000
Homebuilding [Member]    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Income) loss from unconsolidated joint ventures (9,760,000) $ (2,643,000)
Cash Flows From Financing Activities:    
Cash and equivalents at beginning of period 191,086,000  
Cash and equivalents at end of period 83,310,000  
Cash and equivalents at end of period 83,310,000  
Financial Services [Member]    
Cash Flows From Financing Activities:    
Cash and equivalents at beginning of period 17,041,000  
Cash and equivalents at end of period 46,357,000  
Cash and equivalents at end of period $ 46,357,000  
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 1 - Basis of Presentation
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Basis of Accounting [Text Block]
1.
 
Basis of Presentation
 
The accompanying condensed consolidated financial statements
have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for Form
10
-Q and include the accounts of CalAtlantic Group, Inc., its wholly owned subsidiaries, and partnerships in which CalAtlantic Group, Inc. either has a controlling interest or is deemed to be the primary beneficiary of a variable interest entity. Certain information normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") has been omitted pursuant to applicable rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements included herein reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our financial position as of
September 30, 2017
and the results of operations and cash flows for the periods presented.
 
The unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form
10
-K for the year ended
December 31, 2016.
Unless the context otherwise requires, the terms "we," "us," "our" and "the Company" refer to CalAtlantic Group, Inc. and its subsidiaries. The results of operations for interim periods are
not
necessarily indicative of results to be expected for the full year.
XML 18 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 2 - Recent Accounting Pronouncements
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Recent Accounting Pronouncements [Text Block]
2.
Recent Accounting Pronouncements
 
In
May 2014,
the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU")
No.
2014
-
09,
Revenue from Contracts with Customers
("ASU
2014
-
09"
), which supersedes existing accounting literature relating to how and when a company recognizes revenue. Under ASU
2014
-
09,
a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. In
August 2015,
the FASB issued ASU
No.
2015
-
14,
Revenue from Contracts with Customers (Topic
606
): Deferral of the Effective Date
, which delayed the effective date of ASU
2014
-
09
by
one
year. As a result, for public companies, ASU
2014
-
09
will be effective for annual reporting periods and interim periods within those annual periods beginning after
December 15, 2017,
and is to be applied either with a full retrospective or modified retrospective approach. We expect to adopt the new standard under the modified retrospective approach. Although we are still in the process of evaluating our contracts, we do
not
believe the adoption of ASU
2014
-
09
will have a material impact on the amount or timing of our homebuilding revenues. We are continuing to evaluate the impact the adoption of ASU
2014
-
09
may
have on other aspects of our business and on our consolidated financial statements and disclosures.
 
In
January 2016,
the FASB issued ASU
No.
2016
-
01,
Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities
("ASU
2016
-
01"
), which modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do
not
result in consolidation and are
not
accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for a new practicality exception. A practicality exception will apply to those equity investments that do
not
have a readily determinable fair value and do
not
qualify for the practical expedient to estimate fair value under Accounting Standards Codification ("ASC") Topic
820,
Fair Value Measurements
, and as such these investments
may
be measured at cost. ASU
2016
-
01
is effective for annual periods and interim periods within those annual periods beginning after
December 15, 2017.
We are currently evaluating the impact adoption will have on our consolidated financial statements.
 
In
March 2016,
the FASB issued ASU
No.
2016
-
02,
 
Leases
 ("ASU
2016
-
02"
), which provides guidance for accounting for leases. ASU
2016
-
02
requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than
12
months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight line basis over the term of the lease. ASU
2016
-
02
is effective for annual periods and interim periods within those annual periods beginning after
December 15, 2018.
We are currently evaluating the impact adoption will have on our consolidated financial statements.
 
In
March 2016,
the FASB issued ASU
No.
2016
-
07,
 
Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting
 ("ASU
2016
-
07"
), which eliminates the requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant influence over a previously held investment. Our adoption of ASU
2016
-
07
on
January 1, 2017
did
not
have an effect on our consolidated financial statements.
 
In
March 2016,
the FASB issued ASU
No.
2016
-
09,
Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting
("ASU
2016
-
09"
), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. In connection with our adoption of ASU
2016
-
09
on
January 1, 2017,
the Company elected to apply the provisions of ASU
2016
-
09
related to the income statement and statement of cash flows impact of income taxes on a prospective basis, and as such, prior periods have
not
been adjusted. The Company made a policy election to continue to estimate forfeitures at the grant date of an award. The remaining updates required in connection with our adoption of ASU
2016
-
09
did
not
have a material effect on our consolidated financial statements.
 
In
August 2016,
the FASB issued ASU
No.
2016
-
15,
Statement of Cash Flows (Topic
230
): Classification of Certain Cash Receipts and Cash Payments
("ASU
2016
-
15"
), which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU
2016
-
15
is effective for annual periods and interim periods within those annual periods beginning after
December 15, 2017.
We do
not
believe that the adoption of ASU
2016
-
15
will have a material effect on our consolidated financial statements.
 
In
November 2016,
the FASB issued ASU
No.
2016
-
18,
Statement of Cash Flows (Topic
230
): Restricted Cash
("ASU
2016
-
18"
), which provides guidance on the classification of restricted cash in the statement of cash flows. ASU
2016
-
18
is effective for annual periods and interim periods within those annual periods beginning after
December 15, 2017.
We determined that upon adoption of this new standard, the Company will
no
longer present the changes within restricted cash in the consolidated statements of cash flows.
 
In
January 2017,
the FASB issued ASU
No.
2017
-
01,
Business Combinations: Clarifying the Definition of a Business
("ASU
2017
-
01"
), which clarifies the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU
2017
-
01
is effective for annual periods and interim periods within those annual periods beginning after
December 15, 2017.
Once adopted, the Company will be required to analyze any future acquisitions to determine whether the transaction qualifies as a purchase of a business or an asset. Transaction costs associated with asset acquisitions will be capitalized, while transaction costs associated with a business combination will continue to be expensed as incurred. In addition, asset acquisitions will
not
be subject to a measurement period, as are business combinations. The adoption of ASU
2017
-
01
may
have a future impact on our consolidated financial statements.
 
In
January 2017,
the FASB issued ASU
No.
2017
-
04,
Intangibles - Goodwill and Other (Topic
350
): Simplifying the Accounting for Goodwill Impairment
("ASU
2017
-
04"
), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value,
not
to exceed the carrying amount of goodwill. ASU
2017
-
04
is effective for annual periods and interim periods within those annual periods beginning after
December 15, 2019,
and early adoption is permitted. We elected to early adopt ASU
2017
-
04
for the reporting period beginning
January 1, 2017.
Our adoption of ASU
2017
-
04
did
not
have a material effect on our consolidated financial statements.
XML 19 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Segment Reporting
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
3
.
Segment Reporting
 
We operate
two
principal businesses: homebuilding and financial services.
 
Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes. In accordance with ASC Topic
280,
Segment Reporting
("ASC
280"
), we have determined that each of our
four
homebuilding regions and financial services operations (consisting of our mortgage financing and title operations) are our operating segments. Our
four
homebuilding reportable segments include: North, consisting of our divisions in Georgia, Delaware, Illinois, Indiana, Maryland, Minnesota, New Jersey, Pennsylvania, Virginia and Washington D.C.; Southeast, consisting of our divisions in Florida and the Carolinas; Southwest, consisting of our divisions in Texas, Colorado, Nevada and Utah; and West, consisting of our divisions in California, Arizona and Washington.
 
Our mortgage financing operation, CalAtlantic Mortgage, provides mortgage financing to many of our homebuyers in substantially all of the markets in which we operate, and sells substantially all of the loans it originates in the secondary mortgage market. Our title, escrow and insurance subsidiaries provide title, escrow and insurance services to homebuyers in many of our markets. Our mortgage financing, title, escrow and insurance services operations are included in our financial services reportable segment, which is separately reported in our condensed consolidated financial statements under "Financial Services."
 
Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance and treasury, information technology, insurance and risk management, litigation, marketing and human resources. Corporate also provides the necessary administrative functions to support us as a publicly traded company. All of the expenses incurred by Corporate are allocated to each of our
four
homebuilding regions based on their respective percentage of revenues.
 
Segment financial information relating to the Company
’s homebuilding operations was as follows:
 
   
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands)
  
Homebuilding revenues:
                                
North
   $
282,591
     $
283,060
     $
848,438
     $
710,889
  
Southeast
    
427,244
      
400,720
      
1,207,616
      
1,065,038
  
Southwest
    
356,952
      
389,160
      
1,099,803
      
1,165,797
  
West
    
449,056
      
598,018
      
1,318,799
      
1,493,279
  
Total homebuilding revenues
   $
1,515,843
     $
1,670,958
     $
4,474,656
     $
4,435,003
  
                                 
Homebuilding pretax income (1):
                                
North
   $
25,895
     $
25,627
     $
74,492
     $
53,177
  
Southeast
    
30,094
      
31,303
      
85,695
      
84,125
  
Southwest
    
31,648
      
39,312
      
100,757
      
113,145
  
West
    
51,257
      
104,697
      
147,869
      
230,231
  
Total homebuilding pretax income
   $
138,894
     $
200,939
     $
408,813
     $
480,678
  
                                 
Homebuilding income (loss) from unconsolidated joint ventures:
                                
North
   $
78
     $
113
     $
525
     $
486
  
Southeast
  
 
―
    
 
―
    
 
―
      
437
  
Southwest
    
252
      
44
      
515
      
869
  
West
    
5,096
      
1,074
      
8,720
      
851
  
Total homebuilding income (loss) from unconsolidated joint ventures
   $
5,426
     $
1,231
     $
9,760
     $
2,643
  
 
 
(
1
)
Homebuilding pretax income includes depreciation and amortization expense of $
2.0
million,
$4.5
million,
$2.3
million and
$5.3
million, respectively, in the North, Southeast, Southwest and West for the quarter ended
September 30, 2017
and
$1.7
million,
$4.2
million,
$2.8
million and
$7.1
million, respectively, in the North, Southeast, Southwest and West for the quarter ended
September 30, 2016.
Homebuilding pretax income includes depreciation and amortization expense of
$5.6
million,
$12.2
million,
$7.8
million and
$16.1
million, respectively, in the North, Southeast, Southwest and West for the
nine
months ended
September 30, 2017
and
$4.5
million,
$11.2
million,
$8.6
million and
$18.9
million, respectively, in the North, Southeast, Southwest and West for the
nine
months ended
September 30, 2016.
 
Segment financial information relating to the Company
’s homebuilding assets was as follows:
 
   
September 30,
    
December 31,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
Homebuilding assets:
                
North
   $
1,347,835
     $
1,181,544
  
Southeast
    
2,375,363
      
2,253,289
  
Southwest
    
1,895,329
      
1,842,869
  
West
    
2,706,155
      
2,500,163
  
Corporate
    
485,221
      
578,780
  
Total homebuilding assets
   $
8,809,903
     $
8,356,645
  
                 
Homebuilding investments in unconsolidated joint ventures:
                
North
   $
5,829
     $
5,691
  
Southeast
    
162
      
334
  
Southwest
    
4,855
      
6,085
  
West
    
119,846
      
115,017
  
Total homebuilding investments in unconsolidated joint ventures
   $
130,692
     $
127,127
  
XML 20 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 4 - Earnings Per Common Share
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Earnings Per Share [Text Block]
4
.      
Earnings Per Common Share
 
We compute earnings per share in accordance with ASC Topic
260,
Earnings per Share
("ASC
260"
), which requires earnings per share for each class of stock to be calculated using the
two
-class method. The
two
-class method is an allocation of earnings between the holders of common stock and a company's participating security holders. Under the
two
-class method, earnings for the reporting period are allocated between common shareholders and other security holders based on their respective participation rights in undistributed earnings. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and, therefore, are included in computing earnings per share pursuant to the
two
-class method.
 
Basic earnings per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of basic common stock outstanding. Our unvested restricted stock is classified as a participating security in accordance with ASC
260.
Net income allocated to the holders of our unvested restricted stock is calculated based on the shareholders’ proportionate share of weighted average shares of common stock outstanding on an if-converted basis.
 
For purposes of determining diluted earnings per common share, basic earnings per common share is further adjusted to include the effect of potential dilutive common shares outstanding, including stock options, stock appreciation rights, performance share awards and unvested restricted stock using the more dilutive of either the
two
-class method or the treasury stock method, and convertible debt using the if-converted method. Under the
two
-class method of calculating diluted earnings per share, net income is reallocated to common stock, unvested restricted stock and all dilutive securities based on the contractual participating rights of the security to share in the current earnings as if all of the earnings for the period had been distributed.
 
   
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands, except per share amounts)
  
                                 
Numerator:
                                
Net income
   $
93,352
     $
132,348
     $
274,966
     $
317,769
  
Less: Net income allocated to unvested restricted stock
    
(400
 )    
(294
 )    
(1,104
 )    
(635
 )
Net income available to common stockholders for basic earnings per common share
    
92,952
      
132,054
      
273,862
      
317,134
  
Effect of dilutive securities:
                                
Interest on 1.625% convertible senior notes due 2018
    
94
      
91
      
1,123
      
1,088
  
Interest on 0.25% convertible senior notes due 2019
    
85
      
82
      
1,016
      
984
  
Interest on 1.25% convertible senior notes due 2032
    
48
      
62
      
752
      
744
  
Net income available to common stock for diluted earnings per share
   $
93,179
     $
132,289
     $
276,753
     $
319,950
  
                                 
Denominator:
                                
Weighted average basic common shares outstanding
    
110,205,460
      
118,338,891
      
112,778,362
      
119,188,145
  
Effect of dilutive securities:
                                
Share-based awards
    
875,214
      
643,602
      
881,500
      
605,860
  
1.625% convertible senior notes due 2018
    
7,174,013
      
7,165,845
      
7,174,013
      
7,165,845
  
0.25% convertible senior notes due 2019
    
3,642,200
      
3,638,080
      
3,642,200
      
3,638,080
  
1.25% convertible senior notes due 2032
    
2,553,025
      
6,290,997
      
5,045,404
      
6,290,997
  
Weighted average diluted shares outstanding
    
124,449,912
      
136,077,415
      
129,521,479
      
136,888,927
  
                                 
Income per common share:
                                
Basic
   $
0.84
     $
1.12
     $
2.43
     $
2.66
  
Diluted
   $
0.75
     $
0.97
     $
2.14
     $
2.34
  
XML 21 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 5 - Stock-based Compensation
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
5
.      
Stock-Based Compensation
 
We account for share-based awards in accordance with
ASC Topic 
718,
Compensation – Stock Compensation
("ASC
718"
), which requires that the cost resulting from all share-based payment transactions be recognized in the financial statements. ASC
718
requires all entities to apply a fair value-based measurement method in accounting for share-based payment transactions with employees except for equity instruments held by employee share ownership plans.
 
Total compensation expense recognized related to stock-based compensation was
$5.1
million and
$3.7
million for the
three
months ended
September 30, 2017
and
2016,
respectively. For the
nine
months ended
September 30, 2017
and
2016,
we recognized stock-based compensation expense of
$14.3
million and
$11.2
million, respectively. As of
September 30, 2017,
total unrecognized stock-based compensation expense was
$31.3
million, with a weighted average period over which the remaining unrecognized compensation expense is expected to be recorded of approximately
2.2
years.
XML 22 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 6 - Cash and Equivalents and Restricted Cash
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Cash and Cash Equivalents Disclosure [Text Block]
6
.      
Cash and Equivalents and Restricted Cash
 
Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of
three
months or less from the date of purchase. At
September 30, 2017,
cash and equivalents included
$80.8
million of cash from home closings held in escrow for our benefit, typically for less than
five
days, which are considered deposits in-transit.
 
At
September 30, 2017,
homebuilding restricted cash represented
$29.6
million of cash held in cash collateral accounts primarily related to certain letters of credit that have been issued. Financial services restricted cash as of
September 30, 2017
consisted of
$17.7
million held in cash collateral accounts primarily related to certain letters of credit that have been issued,
$3.0
million related to our financial services subsidiary mortgage credit facility and
$0.5
million related to funds held in trust for
third
parties.
XML 23 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Marketable Securities, Available-for-sale
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
7
.      
Marketable Securities, Available-for-sale
 
The Company
’s investment portfolio includes mainly municipal debt securities and metropolitan district bond securities, which are included in homebuilding other assets in the accompanying condensed consolidated balance sheets. As defined in ASC Topic 
320,
Investments—Debt and Equity Securities
("ASC
320"
), the Company considers its investment portfolio to be available-for-sale. Accordingly, these investments are recorded at their fair values. The cost of securities sold is based on an average-cost basis. Unrealized gains and losses on these investments are included in accumulated other comprehensive income (loss), net of tax, within stockholders' equity. At
September 30, 2017,
accumulated other comprehensive income (loss) included unrealized losses of
$172,000
on available-for-sale marketable securities. Realized earnings associated with the Company’s available-for-sale marketable securities, which included interest and dividends totaled
$173,000
for the
nine
months ended
September 30, 2017,
and were included in homebuilding other income (expense) in the accompanying condensed consolidated statements of operations.
 
The Company periodically reviews its available-for-sale securities for other-than-temporary declines in fair values that are below their cost bases, as well as whenever events or changes in circumstances indicate that the carrying amount of an asset
may
not
be recoverable. At
September 30, 2017,
the Company believes that the cost bases for its available-for-sale securities were recoverable in all material respects.
 
The following table displays the fair values of marketable securities, available-for-sale, by type of security:
 
   
September 30, 2017
    
December 31, 2016
  
   
Amortized
Cost
    
Gross
Unrealized
Losses
    
Estimated
Fair Value
    
Amortized
Cost
    
Gross
Unrealized
Losses
    
Estimated
Fair Value
  
   
(Dollars in thousands)
  
Type of security:
                                                
Municipal bond and metropolitan district securities
   $
24,994
     $
(465
 )   $
24,529
     $
18,563
     $
(465
 )   $
18,098
  
 
The following table displays the fair values of marketable securities, available-for-sale, by contractual maturity:
 
   
September 30, 2017
  
   
(Dollars in thousands)
  
Contractual maturity:
        
Maturing in one year or less
   $
—
  
Maturing after three years
    
24,529
  
Total marketable securities, available-for-sale
   $
24,529
  
XML 24 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Inventories
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Inventory Disclosure [Text Block]
8
.      
Inventories
 
 
a.
Inventories Owned
 
Inventories owned consisted of the following at:  
 
   
September 30, 2017
  
   
North
    
Southeast
    
Southwest
    
West
    
Total
  
   
(Dollars in thousands)
  
                                         
Land and land under development (1)
   $
136,182
     $
993,953
     $
420,686
     $
1,335,910
     $
2,886,731
  
Homes completed and under construction
    
790,486
      
928,157
      
966,286
      
939,488
      
3,624,417
  
Model homes
    
57,518
      
112,197
      
102,969
      
162,934
      
435,618
  
Total inventories owned
   $
984,186
     $
2,034,307
     $
1,489,941
     $
2,438,332
     $
6,946,766
  
 
   
December 31, 2016
  
   
North
    
Southeast
    
Southwest
    
West
    
Total
  
   
(Dollars in thousands)
  
                                         
Land and land under development (1)
   $
445,245
     $
1,177,646
     $
594,585
     $
1,410,264
     $
3,627,740
  
Homes completed and under construction
    
327,421
      
585,938
      
710,509
      
680,241
      
2,304,109
  
Model homes
    
79,306
      
132,968
      
116,575
      
178,094
      
506,943
  
Total inventories owned
   $
851,972
     $
1,896,552
     $
1,421,669
     $
2,268,599
     $
6,438,792
  
 
 
(
1
)
During the
nine
months ended
September 30, 2017,
we purchased
$732.4
million of land (
10,694
homesites), of which
27%
(based on homesites) were located in the North,
34%
in the Southeast,
18%
in the Southwest, and
21%
in the West. During the year ended
December 31, 2016,
we purchased
$960.8
million of land (
13,566
homesites), of which
25%
(based on homesites) were located in the North,
25%
in the Southeast,
24%
in the Southwest, and
26%
in the West.
 
In accordance with ASC Topic
360,
Property, Plant, and Equipment
("ASC
360"
), we record impairment losses on inventories when events and circumstances indicate that they
may
be impaired, and the future undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts. We perform a detailed budget and cash flow review of all of our real estate communities (including actively selling communities, future communities and communities on hold/inactive) on a semi-annual basis throughout each fiscal year to, among other things, determine whether the community’s estimated remaining undiscounted future cash flows are more or less than the carrying value of the inventory balance. Inventories that are determined to be impaired are written down to their estimated fair value. We calculate the fair value of a community under a land residual value analysis and in certain cases in conjunction with a discounted cash flow analysis. As of
September 30, 2017
and
2016,
the total active and future communities that we owned were
901
and
879,
respectively.  During the
nine
months ended
September 30, 2017
and
2016,
we reviewed all communities for indicators of impairment and based on our review we did
not
record any inventory impairments during these periods.
 
During the
2017
second
quarter, we acquired the homebuilding operations (representing approximately
19
current and future communities) from a Seattle-based developer and homebuilder for total consideration of
$44.5
million, which we accounted for as a business combination in accordance with ASC Topic
805,
Business Combinations
.  As a result of this transaction, we recorded approximately
$25.7
million of inventories owned,
$3.9
million of inventories
not
owned,
$15.0
million of goodwill and
$0.1
million of other accrued liabilities and other debt.  As of
September 30, 2017,
these amounts are subject to change as we have
not
yet finalized the purchase price allocation of the real estate assets acquired in this transaction.
 
 
b.
Inventories
Not
Owned
 
Inventories
not
owned as of
September 30, 2017
and
December 31, 2016
consisted of land purchase and lot option deposits outstanding at the end of each period, and purchase price allocated to lot option contracts assumed in connection with business acquisitions. Under ASC Topic
810,
Consolidation
("ASC
810"
), a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect
not
to purchase the optioned property. In some instances, we
may
also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as inventories owned, which we would have to write-off should we
not
exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a variable interest entity ("VIE")
may
have been created. In accordance with ASC
810,
we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.
XML 25 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 9 - Capitalization of Interest
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Home Building Interest [Text Block]
9
.      
Capitalization of Interest
 
We follow the practice of capitalizing interest to inventories owned during the period of development and to investments in unconsolidated homebuilding and land development joint ventures in accordance with ASC Topic
835,
Interest
("ASC
835"
). Homebuilding interest capitalized as a cost of inventories owned is included in cost of sales as related units or lots are sold. Interest capitalized to investments in unconsolidated homebuilding and land development joint ventures is included as a reduction of income from unconsolidated joint ventures when the related homes or lots are sold to
third
parties. Interest capitalized to investments in unconsolidated land development joint ventures is transferred to inventories owned if the underlying lots are purchased by us. To the extent our debt exceeds our qualified assets as defined in ASC
835,
we expense a portion of the interest incurred by us. Qualified assets represent communities that are actively selling or under development as well as investments in homebuilding and land development unconsolidated joint ventures. During the
nine
months ended
September 30, 2017
and
2016,
our qualified assets exceeded our debt, and as a result, all of our homebuilding interest incurred during these periods was capitalized in accordance with ASC
835.
 
The following is a summary of homebuilding interest capitalized to inventories owned and investments in unconsolidated joint ventures, amortized to cost of sales and income (loss) from unconsolidated joint ventures and expensed as interest expense, for the
three
and
nine
months ended
September 30, 2017
and
2016:
 
   
Three Months Ended September 30,
    
Nine Months Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands)
  
                                 
Total interest incurred (1)
   $
52,972
     $
56,872
     $
156,845
     $
175,207
  
Less: Interest capitalized to inventories owned (1)
    
(52,158
 )    
(55,761
 )    
(154,371
 )    
(172,170
 )
Less: Interest capitalized to investments in unconsolidated joint ventures
    
(814
 )    
(1,111
 )    
(2,474
 )    
(3,037
 )
Interest expense
   $
—
     $
—
     $
—
     $
—
  
                                 
Interest previously capitalized to inventories owned, included in cost of home sales
   $
48,912
     $
44,636
     $
140,687
     $
115,367
  
Interest previously capitalized to inventories owned, included in cost of land sales
   $
—
     $
115
     $
—
     $
1,596
  
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures
   $
5
     $
613
     $
13
     $
613
  
Interest capitalized in ending inventories owned (2)
   $
379,884
     $
362,807
     $
379,884
     $
362,807
  
Interest capitalized as a percentage of inventories owned
    
5.5
 %    
5.6
 %    
5.5
 %    
5.6
 %
Interest capitalized in ending investments in unconsolidated joint ventures (2)
   $
5,324
     $
3,224
     $
5,324
     $
3,224
  
Interest capitalized as a percentage of investments in unconsolidated joint ventures
    
4.1
 %    
2.3
 %    
4.1
 %    
2.3
 %
 
 
 
(
1
)
Total interest incurred and interest capitalized to in
ventories owned during the
nine
months ended
September 30, 2016
includes a
$9
million increase related to the valuation of the
1.625%
convertible senior notes that was completed during the
2016
first
quarter.
 
(
2
)
During the
three
and
nine
months ended
September 30, 2017,
in connection with lot purchases from our joint ventures,
$0
and
$0.5
million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.
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Note 10 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Equity Method Investments and Joint Ventures Disclosure [Text Block]
1
0.
     
Investments in Unconsolidated Land Development and Homebuilding Joint Ventures
 
Income (loss) from unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations represents our share of the income (loss) of our unconsolidated land development and homebuilding joint ventures, which is allocated based on the provisions of the underlying joint venture operating agreements less any additional impairments
, if any, recorded against our investments in joint ventures which we do
not
deem recoverable. In addition, we defer recognition of our share of income that relates to lots purchased by us from land development joint ventures until we ultimately sell the homes to be constructed to
third
parties, at which time we account for these earnings as a reduction of the cost basis of the lots purchased from these joint ventures.
 
During each of the
nine
months ended
September 30, 2017
and
2016,
all of our investments in unconsolidated joint ventures were reviewed for impairment. Based on the impairment review,
no
joint venture communities were determined to be impaired for the
nine
months ended
September 30, 2017,
and we recorded a
$1.0
million impairment charge during the
three
and
nine
months ended
September 30, 2016,
related to
one
joint venture in the West.
 
Our investments in unconsolidated joint ventures
may
represent a variable interest in a VIE depending on, among other things, the economic interests of the members of the entity and the contractual terms of the arrangement. We analyze all of our unconsolidated joint ventures under the provisions of ASC
810
to determine whether these entities are deemed to be VIEs, and if so, whether we are the primary beneficiary. As of
September 30, 2017,
with the exception of
two
homebuilding joint ventures that we consolidated during
2017
in accordance with ASC
810,
all of our homebuilding and land development joint ventures with unrelated parties were determined under the provisions of ASC
810
to be unconsolidated joint ventures either because they were
not
deemed to be VIEs and we did
not
have a controlling interest, or, if they were a VIE, we were
not
deemed to be the primary beneficiary. Based on our assessment of each consolidated joint venture’s operating agreement in accordance with ASC
810,
we determined that
two
joint ventures were either (
1
) a consolidated VIE where CalAtlantic Group, Inc. is the primary beneficiary that has both (i) the power to direct the activities of the entity that most significantly impact the entity’s economic performance and (ii) the obligation to absorb the expected losses of the entity and right to receive benefits from the entity that could be potentially significant to the joint venture or (
2
) a consolidated joint venture in which CalAtlantic Group, Inc. has a controlling financial interest. As a result of consolidating these
two
entities, we have
$13.9
million of noncontrolling interest reflected in the accompanying condensed consolidated balance sheets as of
September 30, 2017.
XML 27 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 11 - Warranty Costs
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Product Warranty Disclosure [Text Block]
1
1.
     
Warranty Costs
 
Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts accrued are based upon historical experience. Indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary. Our warranty accrual is included in accrued liabilities in the accompanying condensed consolidated balance sheets.
 
Changes in our warranty accrual are detailed in the table set forth below:
 
   
Nine Months Ended September 30,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
                 
Warranty accrual, beginning of the period
   $
43,932
     $
40,691
  
Warranty costs accrued during the period
    
16,097
      
16,903
  
Warranty costs paid during the period
    
(18,303
 )    
(15,088
 )
Warranty accrual, end of the period
   $
41,726
     $
42,506
  
XML 28 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 12 - Revolving Credit Facility and Letter of Credit Facilities
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Line of Credit Facility [Text Block]
1
2.
     
Revolving Credit Facility and Letter of Credit Facilities
 
As of
September 30, 2017,
we were party to a
$750
million unsecured revolving credit facility,
$350
million of which is available for letters of credit, which matures in
October 2019.
The facility has an accordion feature under which the Company
may
increase the total commitment up to a maximum aggregate amount of
$1.2
billion, subject to certain conditions, including the availability of additional bank commitments. Interest rates, as defined in the credit agreement, approximate (i) LIBOR (approximately
1.24%
at
September 30, 2017)
plus
1.75%,
or (ii) Prime (
4.25%
at
September 30, 2017)
plus
0.75%.
 
In addition to customary representations and warranties, the facility contains financial and other covenants, including a minimum tangible net worth requirement of
$1.65
billion (which amount is subject to increase over time based on subsequent earnings and proceeds from equity offerings), a net homebuilding leverage covenant that prohibits the leverage ratio (as defined therein) from exceeding
2.00
to
1.00
and a land covenant that limits land
not
under development to an amount
not
to exceed tangible net worth. The Company is also required to maintain either (a) a minimum liquidity level (unrestricted cash in excess of interest incurred for the previous
four
quarters) or (b) a minimum interest coverage ratio (EBITDA to interest expense, as defined therein) of at least
1.25
to
1.00.
We were in compliance with all of the
revolving facility covenants as of
September 30, 2017.
The revolving facility also limits, among other things, the Company’s investments in joint ventures and the amount of the Company’s common stock that the Company can repurchase.
On
September 30, 2017,
we had
$295.6
million outstanding under the facility and the Company had outstanding letters of credit issued under the facility totaling
$119.2
million, leaving
$335.2
million available under the facility to be drawn.
 
As of
September 30, 2017,
in addition to our
$350
million letter of credit sublimit under our revolving facility, we were party to
four
committed homebuilding letter of credit facilities totaling
$48.0
million, of which
$22.4
million was outstanding. These facilities require cash collateralization and have maturity dates ranging from
October 2018
to
August 2020.
As of
September 30, 2017,
these facilities were secured by cash collateral deposits of
$22.8
million. Upon maturity, we
may
renew or enter into new letter of credit facilities with the same or other financial institutions.
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Note 13 - Secured Project Debt and Other Notes Payable
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Debt Disclosure [Text Block]
13
.
Secured Project Debt and Other Notes Payable
 
Our secured project debt and other notes payable consist of seller non-recourse financing and community development district and similar assessment district bond financings used to finance land acquisition, development and infrastructure costs for which we are responsible. At
September 30, 2017,
we had approximately
$43.2
million outstanding in secured project debt and other notes payable.
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 14 - Senior Notes Payable
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Long-term Debt [Text Block]
14
.      
Senior Notes Payable
 
Senior notes payable consisted of the following at:
 
   
September 30,
    
December 31,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
                 
8.4% Senior Notes due May 2017
  
 
―
     $
235,175
  
8.375% Senior Notes due May 2018
    
574,784
      
574,501
  
1.625% Convertible Senior Notes due May 2018
    
222,757
      
220,236
  
0.25% Convertible Senior notes due June 2019
    
258,035
      
253,777
  
6.625% Senior Notes due May 2020
    
315,430
      
319,909
  
8.375% Senior Notes due January 2021
    
396,087
      
395,246
  
6.25% Senior Notes due December 2021
    
297,980
      
297,623
  
5.375% Senior Notes due October 2022
    
249,331
      
249,230
  
5.875% Senior Notes due November 2024
    
426,558
      
296,982
  
5.25% Senior Notes due June 2026
    
395,323
      
297,483
  
5.00% Senior Notes due June 2027
    
347,103
    
 
―
  
1.25% Convertible Senior Notes due August 2032
  
 
―
      
252,046
  
    $
3,483,388
     $
3,392,208
  
 
The carrying amount of our senior notes listed above are net of debt issuance costs and any discounts and premiums that are amortized to interest costs over the respective terms of the notes.
 
The Company's
1.625%
Convertible Senior Notes due
2018
are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The
1.625%
Convertible Notes bear interest at a rate of
1.625%
per year and will mature on
May 15, 2018,
unless earlier converted or repurchased. The holders
may
convert their
1.625%
Convertible Notes at any time into shares of the Company's common stock at a conversion rate of
31.8
845
shares of common stock per
$1,000
of their principal amount (which is equal to a conversion price of approximately
$31.36
per share), subject to adjustment. The Company
may
not
redeem the
1.625%
Convertible Notes prior to the stated maturity date.
 
The Company's
0.25%
Convertible Senior Notes due
2019
are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. The
0.25%
Convertible Notes bear interest at a rate of
0.25%
per year and will mature on
June 1, 2019,
unless earlier converted, redeemed or repurchased. The holders
may
convert their
0.25%
Convertible Notes at any time into shares of the Company's common stock at a conversion rate of
13.6
157
shares of common stock per
$1,000
of their principal amount (which is equal to a conversion price of approximately
$73.44
per share), subject to adjustment. The Company
may
not
redeem the
0.25%
Convertible Notes prior to
June 6, 2017.
On or after that date, the Company
may
redeem for cash any or all of the
0.25%
Convertible Notes, at its option, if the closing sale price of its common stock for at least
20
trading days (whether or
not
consecutive) during any
30
consecutive trading day period ending within
5
trading days immediately preceding the date on which it provides notice of redemption, including the last trading day of such
30
day trading period, exceeds
130
percent of the applicable conversion price on each applicable trading day. The redemption price will equal
100
percent of the principal amount of the
0.25%
Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
 
Our senior notes payable are all senior obligations and rank equally with our other existing senior indebtedness and, with the exception of our Convertible Notes, are redeemable at our option, in whole or in part, pursuant to a "make whole" formula. These notes contain various restrictive covenants, including, but
not
limited to, a limitation on secured indebtedness and a restriction on sale leaseback transactions. As of
September 30, 2017,
we were in compliance with the covenants required by our senior notes.
 
Many of our
100%
owned direct and indirect subsidiaries (collectively, the "Guarantor Subsidiaries") guarantee our outstanding senior notes. The guarantees are full and unconditional, and joint and several. Under our most restrictive indenture, a Guarantor Subsidiary will be released and relieved of any obligations under the applicable note guarantee in the event that i) such Guarantor Subsidiary ceases to be a restricted subsidiary in the homebuilding segment or ii) in the event of a sale or other disposition of such Guarantor Subsidiary,
in compliance with the indenture, and such Guarantor Subsidiary ceases to guaranty any other debt of the Company. Please see Note
21
for supplemental financial statement information about our guarantor subsidiaries group and non-guarantor subsidiaries group.
 
In
April 2017,
the Company issued
$225
million in aggregate principal amount of senior notes, consisting of
$125
million aggregate principal amount of additional notes to the Company
’s existing
5.875%
Senior Notes due
2024
and
$100
million aggregate principal amount of additional notes to the Company’s existing
5.25%
Senior Notes due
2026,
each of which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis. A portion of the net proceeds of this issuance were used to repay the remaining
$230
million principal balance of our
8.4%
Senior Notes upon maturity in
May 2017.
 
During
June 2017,
the Company issued
$350
million in aggregate principal amount of
5.00%
Senior Notes due
2027,
which are senior unsecured obligations of the Company and are guaranteed by the guarantors of our other senior notes on a senior unsecured basis.
A portion of the net proceeds of this issuance were used to repurchase and repay the aggregate principal balance of our
1.25%
Convertible Senior Notes due
August 2032.
 
During
August 2017,
the Company redeemed for cash
, at a redemption price equal to
100%
of the principal amount, all of the remaining
$253
million of our
1.25%
Convertible Senior Notes which were scheduled to mature on
August 1, 2032.
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Note 15 - Mortgage Credit Facility
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Disclosure of Warehouse Agreement Borrowings [Text Block]
1
5.
     
Mortgage Credit Facility
 
At
September 30, 2017,
we had
$152.8
million outstanding under our mortgage financing subsidiary’s mortgage credit facility. This mortgage credit facility consisted of a
$300
million uncommitted repurchase facility, maturing in
June 2018.
This facility requires our mortgage financing subsidiary to maintain cash collateral accounts, which totaled
$3.0
million as of
September 30, 2017,
and also contains financial covenants which require CalAtlantic Mortgage to, among other things, maintain a minimum level of tangible net worth,
not
to exceed a debt to tangible net worth ratio, maintain a minimum liquidity amount based on a measure of total assets (inclusive of the cash collateral requirement), and satisfy pretax income (loss) requirements. As of
September 30, 2017,
CalAtlantic Mortgage was in compliance with the financial and other covenants contained in this facility.
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Note 16 - Disclosures About Fair Value
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
1
6.
     
Disclosures about Fair Value
 
ASC Topic
820,
Fair Value Measurements and Disclosures
("ASC
820"
), establishes a framework for measuring fair value, expands disclosures regarding fair value measurements and defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Further, ASC
820
requires us to maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. ASC
820
specifies a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. The
three
levels of the hierarchy are as follows:
 
•
     Level
1
– quoted prices for
identical
assets or liabilities in active markets;
 
•
     Level
2
– quoted prices for
similar
assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are
not
active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
 
•
     Level
3
– valuations derived from valuation techniques in which
one
or more significant inputs or significant value drivers are
unobservable
.
 
F
inancial instruments measured at fair value on a recurring basis:
 
   
 
 
 
  
Fair Value at
  
   
Fair Value
Hierarchy
    
September 30,
2017
    
December 31,
2016
  
   
 
 
 
  
(Dollars in thousands)
  
                         
Marketable securities, available-for-sale
                        
Municipal debt securities
    
Level 2
     $
9,387
     $
9,387
  
Metropolitan district bond securities
    
Level 3
     $
15,142
     $
8,711
  
Mortgage loans held for sale
    
Level 2
     $
163,352
     $
265,542
  
 
Marketable Securities, Available-for-sale
 
Marketable securities that are available-for-sale are comprised mainly of municipal debt securities and metropolitan district bond securities. The Company
’s municipal debt securities are valued based on quoted market prices of similar instruments, which uses Level
2
inputs, and the metropolitan district bond securities are based on a discounted future cash flow model, which uses Level
3
inputs. The primary unobservable inputs used in our discounted cash flow model are (
1
) the forecasted number of homes to be closed, as homes drive increases to the taxpaying base for the metropolitan district, (
2
) the forecasted assessed value of those closed homes and (
3
) the discount rate.
 
Mortgage loans held for sale
 
Mortgage loans held for sale
consist of FHA, VA, USDA and agency
first
mortgages on single-family residences which are eligible for sale to FNMA/FHLMC, GNMA or other investors, as applicable. Fair values of these loans are based on quoted prices from
third
party investors when preselling loans.
 
F
inancial instruments for which we have
not
elected the fair value option in accordance with ASC
825:
 
   
 
 
 
  
September 30, 2017
    
December 31, 2016
  
Description
  
Fair Value
Hierarchy
    
Carrying
Amount
    
Fair Value
    
Carrying
Amount
    
Fair Value
  
   
 
 
 
  
(Dollars in thousands)
  
                                         
Financial services assets:
                                        
Mortgage loans held for investment, net
    
2
     $
25,510
     $
25,510
     $
24,924
     $
24,924
  
Homebuilding liabilities:
                                        
Senior and convertible senior notes payable, net
    
2
     $
3,483,388
     $
3,753,098
     $
3,392,208
     $
3,617,838
  
 
Mortgage Loans Held for Investment
–
Fair value of these loans is based on the estimated market value of the underlying collateral based on market data and other factors for similar type properties as further adjusted to reflect the estimated net realizable value of carrying the loans through disposition.
 
Senior
and Convertible Senior
Notes Payable –
The senior notes are traded over the counter and their fair values were estimated based upon the values of their last trade at the end of the period.
 
The fair value of our cash and equivalents, restricted cash, accounts payable and
accrued liabilities, secured project debt and other notes payable, revolving credit facility, and mortgage credit facility approximate their carrying amounts due to the short-term nature and/or variable interest rate attribute of these assets and liabilities.
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Note 17 - Commitments and Contingencies
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
1
7.
      
Commitments and Contingencies
 
 
a.
Land Purchase and Option Agreements
 
We are subject to obligations associated with entering into contracts for the purchase of land and improved homesites. These purchase contracts typically require us to provide a cash deposit or deliver a letter of credit in favor of the seller, and our purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements. We also utilize option contracts with land sellers as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the near-term use of funds from our corporate financing sources. Option contracts generally require a non-refundable deposit for the right to acquire lots over a specified period of time at predetermined prices. We generally have the right at our discretion to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit or by repaying amounts drawn under
a letter of credit provided by us with
no
further financial responsibility to the land seller, although in certain instances, the land seller has the right to compel us to purchase a specified number of lots at predetermined prices.
 
In some instances, we
may
also expend funds for due diligence, development and construction activities with respect to our land purchase and option contracts prior to purchase, which we would have to write off should we
not
purchase the land. At
September 30, 2017,
we had non-refundable cash deposits outstanding of approximately
$80.3
million and capitalized pre-acquisition and other development and construction costs of approximately
$31.3
million relating to land purchase and option contracts having a total remaining purchase price of approximately
$995.1
million.
 
Our utilization of option contracts is dependent on, among other things, the availability of land sellers willing to enter into option takedown arrangements, the availability of capital to financial intermediaries, general housing market conditions, and geographic preferences. Options
may
be more difficult to procure from land sellers in strong housing markets and are more prevalent in certain geographic regions.
 
 
b.
Land Development and Homebuilding Joint Ventures
 
Our joint ventures have historically obtained secured acquisition, development and construction financing designed to reduce the use of funds from corporate financing sources. As of
September 30, 2017,
we held ownership interests in
28
homebuilding and land development joint ventures, of which
14
were active and
14
were inactive or winding down.
As of
September 30, 2017,
we had
no
unconsolidated joint ventures with project specific debt outstanding
. At
September 30, 2017,
we had
no
joint venture surety bonds outstanding subject to indemnity arrangements by us.
 
 
c.
Surety Bonds
 
We obtain surety bonds in the normal course of business to ensure completion of the infrastructure of our communities. At
September 30, 2017,
we had approximately
$1,002.2
million in surety bonds outstanding, with respect to which we had an estimated
$506.1
million remaining in cost to complete.
 
 
d.
Mortgage Loans and Commitments
 
We commit to making mortgage loans to our homebuyers through our mortgage financing subsidiary, CalAtlantic Mortgage. CalAtlantic Mortgage sells substantially all of the loans it originates in the
secondary mortgage market and finances these loans under its mortgage credit facility for a short period of time (typically for
30
to
45
days), as investors complete their administrative review of applicable loan documents. Mortgage loans in process for which interest rates were committed to borrowers totaled approximately
$291.6
million at
September 30, 2017
and carried a weighted average interest rate of approximately
4.0%.
Interest rate risks related to these obligations are mitigated by CalAtlantic Mortgage through the preselling of loans to investors or through its interest rate hedging program. As of
September 30, 2017,
CalAtlantic Mortgage had approximately
$163.4
million in closed mortgage loans held for sale and
$33.3
million of mortgage loans in process that we were committed to sell to investors subject to our funding of the loans and the investors’ completion of their administrative review of the applicable loan documents. In addition, as of
September 30, 2017,
CalAtlantic Mortgage had approximately
$258.3
million of mortgage loans in process that were or are expected to be originated on a non-presold basis, substantially all of which were hedged by forward sale commitments of mortgage-backed securities prior to entering into loan sale transactions with
third
party investors.
 
Substantially all of the loans originated by CalAtlantic Mortgage are sold with servicing rights released on a non-recourse basis. These sales are generally subject to CalAtlantic Mortgage
’s obligation to repay its gain on sale if the loan is prepaid by the borrower within a certain time period following such sale, or to repurchase the loan if, among other things, the purchaser’s underwriting guidelines are
not
met, or there is fraud in connection with the loan. During the
nine
months ended
September 30, 2017
and
2016,
CalAtlantic Mortgage recorded loan loss expense related to indemnification and repurchase allowances of
$0.3
million and
$0.1
million, respectively. As of
September 30, 2017
and
December 31, 2016,
CalAtlantic Mortgage had indemnity and repurchase allowances related to loans sold of approximately
$3.8
million and
$3.6
million, respectively. In addition, during the
nine
months ended
September 30, 2017
and
2016,
CalAtlantic Mortgage made make-whole payments of
$0.1
million and
$0.3
million, respectively.
 
 
e.
Insurance and Litigation Accruals
 
Insurance and litigation accruals are established with respect to estimated future claims cost. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy. We record allowances to cover the estimated costs of our self-insurance liability based on an analysis performed by an independent
third
party actuary that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Our total insurance and litigation accruals as of
September 30, 2017
and
December 31, 2016
were
$233.8
million and
$233.5
million, respectively, which are included in accrued liabilities in the accompanying condensed consolidated balance sheets. Because of the high degree of judgment required in determining these estimated accrual amounts, actual future claim costs could differ materially from our currently estimated amounts.
 
In
July 2017,
Weyerhaeuser Company notified the
Company of an issue with a specific type of fire rated I-joist product manufactured after
December 1, 2016. 
The Company estimates that the joist is present in approximately
370
Company homes located in our Colorado, Twin Cities and Philadelphia markets. Weyerhaeuser has committed to us that they will absorb the costs and directly pay for the repair of the affected homes, and as a result, we do
not
believe we will incur any material costs, expenses or charges as a result of this issue.
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Note 18 - Income Taxes
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
18.
     
Income Taxes
 
We account for income taxes in accordance with ASC Topic
740,
Income Taxes
("ASC
740"
). ASC
740
requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered. Changes to enacted tax rates could materially impact the recorded amount of our deferred tax asset.
 
Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than
not
unrealizable under ASC
740.
We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than
not
to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our prior and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods, our utilization experience with operating loss and tax credit carryforwards, and tax planning alternatives.
 
Our
2017
third
quarter provision for income taxes of
$52.8
million primarily related to our
$146.2
million of pretax income. As of
September 30, 2017,
we had a
$309.2
million deferred tax asset which was partially offset by a valuation allowance of
$1.9
million related to state net operating loss carryforwards that are limited by shorter carryforward periods. As of such date,
$96.0
million of our deferred tax asset related to net operating loss carryforwards is subject to the Internal Revenue Code Section
382
gross annual deduction limitation of
$15.6
million for both federal and state purposes. Additionally,
$16.1
 million of our state deferred tax asset related to net operating losses is subject to
382
limitations resulting from our
October 1, 2015
merger with Ryland, and
$5.0
million related to state net operating loss carryforwards that are
not
limited by Section
382.
The remaining deferred tax asset balance of
$192.1
million represented deductible timing differences, primarily related to inventory impairments and financial accruals, which have
no
expiration date. As of
September 30, 2017
and
December 31, 2016,
our liability for unrecognized tax benefits was
$14.0
million and
$12.1
million, respectively, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets. In addition, as of
September 30, 2017,
we remained subject to examination by various tax jurisdictions for the tax years ended
December 31, 2012
through
2016.
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Note 19 - Subsequent Event
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
19
.     
Su
bsequent Event
 
On
October 29, 2017,
the Company
and Lennar Corporation (“Lennar”) entered into an Agreement and Plan of Merger (the “Merger”).  At the effective time of the Merger, each share of common stock of the Company issued and outstanding will be converted into and become the right to receive either (i) subject to adjustment,
0.885
shares (as adjusted, the “Exchange Ratio”) of Class A common stock of Lennar (“Lennar stock”) or (ii)
$48.26
in cash.  Holders of Company common stock will have the option to elect to receive their consideration in the Merger in cash or stock, subject to proration to the extent cash to be paid to all such holders electing to receive cash consideration would exceed
$1.16
billion.  At the effective time of the Merger, (i) the Company’s options, restricted stock units and stock appreciation rights will be converted into the option to acquire or right to receive in lieu of Company common stock, the number of shares of Lennar stock, as determined in accordance with the exchange ratio, and (ii) the Company’s convertible notes will remain outstanding and become convertible in lieu of Company common stock, the number of shares of Lennar stock, as determined in accordance with the Exchange Ratio.  It is expected that the Merger will qualify as a tax-free reorganization for U.S. federal income tax purposes.  The consummation of the Merger is subject to the satisfaction or waiver of certain customary conditions, including the approval of the Merger by the Company’s stockholders and the stockholders of Lennar.  For additional information about the Merger Agreement, reference is made to the Current Report on Form
8
-K filed by the Company on
October 30, 2017,
which is incorporated by reference herein.
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Note 20 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Cash Flow, Supplemental Disclosures [Text Block]
20
.     
Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows
 
The following are supplemental disclosures to the condensed consolidated statements of cash flows:
 
   
Nine Months Ended
September 30,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
Supplemental Disclosures of Cash Flow Information:
  
 
 
 
  
 
 
 
Cash paid during the period for:
                
Income taxes
   $
177,332
     $
150,822
  
                 
Supplemental Disclosures of Noncash Activities:
  
 
 
 
  
 
 
 
Increase in secured project debt for assets acquired
   $
16,480
     $
25,625
  
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Note 21 - Supplemental Guarantor Information
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Supplemental Guarantor Information [Text Block]
21
.     
S
upplemental Guarantor
Information
 
Certain of our
100%
owned direct and indirect subsidiaries guarantee our outstanding senior n
otes payable (please see Note
14
"Senior Notes Payable"). Presented below are the condensed consolidated financial statements for our guarantor subsidiaries and non-guarantor subsidiaries.
 
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
 
   
Three Months Ended September 30, 2017
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
647,336
     $
632,262
     $
236,245
     $
—
     $
1,515,843
  
Cost of sales
    
(528,858
 )    
(505,367
 )    
(178,483
 )    
—
      
(1,212,708
 )
Gross margin
    
118,478
      
126,895
      
57,762
      
—
      
303,135
  
Selling, general and administrative expenses
    
(68,237
 )    
(80,147
 )    
(20,045
 )    
—
      
(168,429
 )
Income (loss) from unconsolidated joint ventures
    
981
      
252
      
4,193
      
—
      
5,426
  
Equity income of subsidiaries
    
62,765
      
—
      
—
      
(62,765
 )    
—
  
Interest income (expense), net
    
845
      
(519
 )    
(326
 )    
—
      
—
  
Other income (expense)
    
(3,714
 )    
(287
 )    
2,763
      
—
      
(1,238
 )
Homebuilding pretax income
    
111,118
      
46,194
      
44,347
      
(62,765
 )    
138,894
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
7,278
      
—
      
7,278
  
Income before taxes
    
111,118
      
46,194
      
51,625
      
(62,765
 )    
146,172
  
Provision for income taxes
    
(17,766
 )    
(22,788
 )    
(12,266
 )    
—
      
(52,820
 )
Net income
   $
93,352
     $
23,406
     $
39,359
     $
(62,765
 )   $
93,352
  
 
  
   
Three Months Ended September 30, 2016
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
707,397
     $
656,095
     $
307,466
     $
—
     $
1,670,958
  
Cost of sales
    
(561,856
 )    
(520,810
 )    
(213,600
 )    
—
      
(1,296,266
 )
Gross margin
    
145,541
      
135,285
      
93,866
      
—
      
374,692
  
Selling, general and administrative expenses
    
(75,217
 )    
(75,834
 )    
(19,764
 )    
—
      
(170,815
 )
Income (loss) from unconsolidated joint ventures
    
(717
 )    
44
      
1,904
      
—
      
1,231
  
Equity income of subsidiaries
    
95,380
      
—
      
—
      
(95,380
 )    
—
  
Interest income (expense), net
    
1,075
      
(886
 )    
(189
 )    
—
      
—
  
Other income (expense)
    
(3,602
 )    
(762
 )    
195
      
—
      
(4,169
 )
Homebuilding pretax income
    
162,460
      
57,847
      
76,012
      
(95,380
 )    
200,939
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
9,807
      
—
      
9,807
  
Income before taxes
    
162,460
      
57,847
      
85,819
      
(95,380
 )    
210,746
  
Provision for income taxes
    
(30,112
 )    
(23,111
 )    
(25,175
 )    
—
      
(78,398
 )
Net income
   $
132,348
     $
34,736
     $
60,644
     $
(95,380
 )   $
132,348
  
 
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
 
   
 
Nine Months Ended September 30, 2017
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
1,955,915
     $
1,835,567
     $
683,174
     $
—
     $
4,474,656
  
Cost of sales
    
(1,592,317
 )    
(1,468,154
 )    
(512,348
 )    
—
      
(3,572,819
 )
Gross margin
    
363,598
      
367,413
      
170,826
      
—
      
901,837
  
Selling, general and administrative expenses
    
(203,674
 )    
(237,232
 )    
(57,796
 )    
—
      
(498,702
 )
Income (loss) from unconsolidated joint ventures
    
2,006
      
550
      
7,204
      
—
      
9,760
  
Equity income of subsidiaries
    
178,762
      
—
      
—
      
(178,762
 )    
—
  
Interest income (expense), net
    
2,439
      
(1,724
 )    
(715
 )    
—
      
—
  
Other income (expense)
    
(9,612
 )    
(543
 )    
6,073
      
—
      
(4,082
 )
Homebuilding pretax income
    
333,519
      
128,464
      
125,592
      
(178,762
 )    
408,813
  
                                         
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
23,475
      
—
      
23,475
  
Income before taxes
    
333,519
      
128,464
      
149,067
      
(178,762
 )    
432,288
  
Provision for income taxes
    
(58,553
 )    
(61,411
 )    
(37,358
 )    
—
      
(157,322
 )
Net income
   $
274,966
     $
67,053
     $
111,709
     $
(178,762
 )   $
274,966
  
 
   
Nine Months Ended September 30, 2016
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
1,817,935
     $
1,866,598
     $
750,470
     $
—
     $
4,435,003
  
Cost of sales
    
(1,451,579
 )    
(1,486,644
 )    
(533,543
 )    
—
      
(3,471,766
 )
Gross margin
    
366,356
      
379,954
      
216,927
      
—
      
963,237
  
Selling, general and administrative expenses
    
(201,503
 )    
(220,595
 )    
(51,112
 )    
—
      
(473,210
 )
Income (loss) from unconsolidated joint ventures
    
29
      
444
      
2,170
      
—
      
2,643
  
Equity income of subsidiaries
    
229,414
      
—
      
—
      
(229,414
 )    
—
  
Interest income (expense), net
    
3,685
      
(2,785
 )    
(900
 )    
—
      
—
  
Other income (expense)
    
(10,885
 )    
(1,241
 )    
134
      
—
      
(11,992
 )
Homebuilding pretax income
    
387,096
      
155,777
      
167,219
      
(229,414
 )    
480,678
  
                                         
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
24,889
      
—
      
24,889
  
Income before taxes
    
387,096
      
155,777
      
192,108
      
(229,414
 )    
505,567
  
Provision for income taxes
    
(69,327
 )    
(66,659
 )    
(51,812
 )    
—
      
(187,798
 )
Net income
   $
317,769
     $
89,118
     $
140,296
     $
(229,414
 )   $
317,769
  
 
 
CONDENSED CONSOLIDATING BALANCE SHEET
 
 
   
September 30, 2017
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
ASSETS
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Cash and equivalents
   $
25,694
     $
31,465
     $
26,151
     $
—
     $
83,310
  
Restricted cash
    
—
      
—
      
29,620
      
—
      
29,620
  
Intercompany receivables
    
2,121,692
      
—
      
398,530
      
(2,520,222
 )    
—
  
Inventories:
                                        
Owned
    
3,208,403
      
2,279,408
      
1,458,955
      
—
      
6,946,766
  
Not owned
    
44,285
      
37,100
      
10,559
      
—
      
91,944
  
Investments in unconsolidated joint ventures
    
5,895
      
3,750
      
121,047
      
—
      
130,692
  
Investments in subsidiaries
    
2,131,970
      
—
      
—
      
(2,131,970
 )    
—
  
Deferred income taxes, net
    
313,894
      
—
      
—
      
(6,643
 )    
307,251
  
Goodwill
    
970,185
      
—
      
15,000
      
—
      
985,185
  
Other assets
    
172,296
      
43,380
      
19,459
      
—
      
235,135
  
Total Homebuilding Assets
    
8,994,314
      
2,395,103
      
2,079,321
      
(4,658,835
 )    
8,809,903
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Cash and equivalents
    
—
      
—
      
46,357
      
—
      
46,357
  
Restricted cash
    
—
      
—
      
21,205
      
—
      
21,205
  
Mortgage loans held for sale, net
    
—
      
—
      
160,068
      
—
      
160,068
  
Mortgage loans held for investment, net
    
—
      
—
      
25,510
      
—
      
25,510
  
Other assets
    
—
      
—
      
17,792
      
(1,801
 )    
15,991
  
Total Financial Services Assets
    
—
      
—
      
270,932
      
(1,801
 )    
269,131
  
Total Assets
   $
8,994,314
     $
2,395,103
     $
2,350,253
     $
(4,660,636
 )   $
9,079,034
  
                                         
LIABILITIES AND EQUITY
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Accounts payable
   $
95,533
     $
58,196
     $
24,023
     $
—
     $
177,752
  
Accrued liabilities and intercompany payables
    
365,920
      
1,260,516
      
1,066,124
      
(2,130,136
 )    
562,424
  
Revolving credit facility
    
295,600
      
—
      
—
      
—
      
295,600
  
Secured project debt and other notes payable
    
424,662
      
—
      
17,018
      
(398,530
 )    
43,150
  
Senior notes payable
    
3,483,388
      
—
      
—
      
—
      
3,483,388
  
Total Homebuilding Liabilities
    
4,665,103
      
1,318,712
      
1,107,165
      
(2,528,666
 )    
4,562,314
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Accounts payable and other liabilities
    
—
      
—
      
20,831
      
—
      
20,831
  
Mortgage credit facility
    
—
      
—
      
152,786
      
—
      
152,786
  
Total Financial Services Liabilities
    
—
      
—
      
173,617
      
—
      
173,617
  
Total Liabilities
    
4,665,103
      
1,318,712
      
1,280,782
      
(2,528,666
 )    
4,735,931
  
                                         
Equity:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Stockholders' Equity
    
4,329,211
      
1,076,391
      
1,055,579
      
(2,131,970
 )    
4,329,211
  
Noncontrolling interest
    
—
      
—
      
13,892
      
—
      
13,892
  
Total Equity
    
4,329,211
      
1,076,391
      
1,069,471
      
(2,131,970
 )    
4,343,103
  
Total Liabilities and Equity
   $
8,994,314
     $
2,395,103
     $
2,350,253
     $
(4,660,636
 )   $
9,079,034
  
 
 
CONDENSED CONSOLIDATING BALANCE SHEET
 
   
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
  
 
 
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
 
   
Nine Months Ended September 30, 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
   $
(287,435
 )   $
16,744
     $
147,216
     $
—
     $
(123,475
 )
                                         
Cash Flows From Investing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Investments in unconsolidated homebuilding joint ventures
    
(178
 )    
(79
 )    
(32,955
 )    
—
      
(33,212
 )
Distributions of capital from unconsolidated homebuilding joint ventures
    
500
      
1,867
      
10,403
      
—
      
12,770
  
Net cash paid for acquisitions
    
—
      
—
      
(44,477
 )    
—
      
(44,477
 )
Loan to parent and subsidiaries
    
—
      
—
      
(65,054
 )    
65,054
      
—
  
Other investing activities
    
(2,098
 )    
(1,519
 )    
(7,496
 )    
—
      
(11,113
 )
Net cash provided by (used in) investing activities
    
(1,776
 )    
269
      
(139,579
 )    
65,054
      
(76,032
 )
                                         
Cash Flows From Financing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Change in restricted cash
    
—
      
—
      
(794
 )    
—
      
(794
 )
Borrowings from revolving credit facility
    
685,550
      
—
      
—
      
—
      
685,550
  
Principal payments on revolving credit facility
    
(389,950
 )    
—
      
—
      
—
      
(389,950
 )
Principal payments on secured project debt and other notes payable
    
—
      
—
      
(909
 )    
—
      
(909
 )
Principal payment on senior notes payable
    
(483,000
 )    
—
      
—
      
—
      
(483,000
 )
Proceeds from the issuance of senior notes payable
    
579,125
      
—
      
—
      
—
      
579,125
  
Payment of debt issuance costs
    
(5,019
 )    
—
      
—
      
—
      
(5,019
 )
Loan from subsidiary
    
65,054
      
—
      
—
      
(65,054
 )    
—
  
Net proceeds from (payments on) mortgage credit facility
    
—
      
—
      
(94,641
 )    
—
      
(94,641
 )
(Contributions to) distributions from Corporate and subsidiaries
    
1,210
      
—
      
(1,210
 )    
—
      
—
  
Repurchases of common stock
    
(150,014
 )    
—
      
—
      
—
      
(150,014
 )
Common stock dividend payments
    
(13,427
 )    
—
      
—
      
—
      
(13,427
 )
Issuance of common stock under employee stock plans, net of tax withholdings
    
(5,807
 )    
—
      
—
      
—
      
(5,807
 )
Other financing activities
    
—
      
—
      
(67
 )    
—
      
(67
 )
Intercompany advances, net
    
(74,078
 )    
(23,759
 )    
97,837
      
—
      
—
  
Net cash provided by (used in) financing activities
    
209,644
      
(23,759
 )    
216
      
(65,054
 )    
121,047
  
                                         
Net increase (decrease) in cash and equivalents
    
(79,567
 )    
(6,746
 )    
7,853
      
—
      
(78,460
 )
Cash and equivalents at beginning of period
    
105,261
      
38,211
      
64,655
      
—
      
208,127
  
Cash and equivalents at end of period
   $
25,694
     $
31,465
     $
72,508
     $
—
     $
129,667
  
 
 
   
Nine Months Ended September 30, 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
   $
(49,169
 )   $
16,087
     $
200,744
     $
—
     $
167,662
  
                                         
Cash Flows From Investing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Investments in unconsolidated homebuilding joint ventures
    
(235
 )    
(192
 )    
(26,573
 )    
—
      
(27,000
 )
Distributions of capital from unconsolidated homebuilding joint ventures
    
1,107
      
333
      
22,287
      
—
      
23,727
  
Loan to parent and subsidiaries
    
—
      
—
      
(88,800
 )    
88,800
      
—
  
Other investing activities
    
(325
 )    
(1,958
 )    
(3,106
 )    
—
      
(5,389
 )
Net cash provided by (used in) investing activities
    
547
      
(1,817
 )    
(96,192
 )    
88,800
      
(8,662
 )
                                         
Cash Flows From Financing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Change in restricted cash
    
—
      
—
      
7,309
      
—
      
7,309
  
Borrowings from revolving credit facility
    
1,008,000
      
—
      
—
      
—
      
1,008,000
  
Principal payments on revolving credit facility
    
(862,000
 )    
—
      
—
      
—
      
(862,000
 )
Principal payments on secured project debt and other notes payable
    
(9,985
 )    
—
      
(404
 )    
—
      
(10,389
 )
Principal payments on senior notes payable
    
(280,000
 )    
—
      
—
      
—
      
(280,000
 )
Proceeds from the issuance of senior notes payable
    
300,000
      
—
      
—
      
—
      
300,000
  
Payment of debt issue costs
    
(2,657
 )    
—
      
—
      
—
      
(2,657
 )
Loan from subsidiary
    
88,800
      
—
      
—
      
(88,800
 )    
—
  
Net proceeds from (payments on) mortgage credit facility
    
—
      
—
      
(141,524
 )    
—
      
(141,524
 )
(Contributions to) distributions from Corporate and subsidiaries
    
18,350
      
—
      
(18,350
 )    
—
      
—
  
Repurchases of common stock
    
(137,464
 )    
—
      
—
      
—
      
(137,464
 )
Common stock dividend payments
    
(14,264
 )    
—
      
—
      
—
      
(14,264
 )
Issuance of common stock under employee stock plans, net of tax withholdings
    
1,868
      
—
      
—
      
—
      
1,868
  
Other financing activities
    
—
      
(199
 )    
—
      
—
      
(199
 )
Intercompany advances, net
    
49,757
      
(95,992
 )    
46,235
      
—
      
—
  
Net cash provided by (used in) financing activities
    
160,405
      
(96,191
 )    
(106,734
 )    
(88,800
 )    
(131,320
 )
                                         
Net increase (decrease) in cash and equivalents
    
111,783
      
(81,921
 )    
(2,182
 )    
—
      
27,680
  
Cash and equivalents at beginning of period
    
6,387
      
112,852
      
67,355
      
—
      
186,594
  
Cash and equivalents at end of period
   $
118,170
     $
30,931
     $
65,173
     $
—
     $
214,274
  
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands)
  
Homebuilding revenues:
                                
North
   $
282,591
     $
283,060
     $
848,438
     $
710,889
  
Southeast
    
427,244
      
400,720
      
1,207,616
      
1,065,038
  
Southwest
    
356,952
      
389,160
      
1,099,803
      
1,165,797
  
West
    
449,056
      
598,018
      
1,318,799
      
1,493,279
  
Total homebuilding revenues
   $
1,515,843
     $
1,670,958
     $
4,474,656
     $
4,435,003
  
                                 
Homebuilding pretax income (1):
                                
North
   $
25,895
     $
25,627
     $
74,492
     $
53,177
  
Southeast
    
30,094
      
31,303
      
85,695
      
84,125
  
Southwest
    
31,648
      
39,312
      
100,757
      
113,145
  
West
    
51,257
      
104,697
      
147,869
      
230,231
  
Total homebuilding pretax income
   $
138,894
     $
200,939
     $
408,813
     $
480,678
  
                                 
Homebuilding income (loss) from unconsolidated joint ventures:
                                
North
   $
78
     $
113
     $
525
     $
486
  
Southeast
  
 
―
    
 
―
    
 
―
      
437
  
Southwest
    
252
      
44
      
515
      
869
  
West
    
5,096
      
1,074
      
8,720
      
851
  
Total homebuilding income (loss) from unconsolidated joint ventures
   $
5,426
     $
1,231
     $
9,760
     $
2,643
  
Reconciliation of Assets from Segment to Consolidated [Table Text Block]
   
September 30,
    
December 31,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
Homebuilding assets:
                
North
   $
1,347,835
     $
1,181,544
  
Southeast
    
2,375,363
      
2,253,289
  
Southwest
    
1,895,329
      
1,842,869
  
West
    
2,706,155
      
2,500,163
  
Corporate
    
485,221
      
578,780
  
Total homebuilding assets
   $
8,809,903
     $
8,356,645
  
                 
Homebuilding investments in unconsolidated joint ventures:
                
North
   $
5,829
     $
5,691
  
Southeast
    
162
      
334
  
Southwest
    
4,855
      
6,085
  
West
    
119,846
      
115,017
  
Total homebuilding investments in unconsolidated joint ventures
   $
130,692
     $
127,127
  
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 4 - Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
   
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands, except per share amounts)
  
                                 
Numerator:
                                
Net income
   $
93,352
     $
132,348
     $
274,966
     $
317,769
  
Less: Net income allocated to unvested restricted stock
    
(400
 )    
(294
 )    
(1,104
 )    
(635
 )
Net income available to common stockholders for basic earnings per common share
    
92,952
      
132,054
      
273,862
      
317,134
  
Effect of dilutive securities:
                                
Interest on 1.625% convertible senior notes due 2018
    
94
      
91
      
1,123
      
1,088
  
Interest on 0.25% convertible senior notes due 2019
    
85
      
82
      
1,016
      
984
  
Interest on 1.25% convertible senior notes due 2032
    
48
      
62
      
752
      
744
  
Net income available to common stock for diluted earnings per share
   $
93,179
     $
132,289
     $
276,753
     $
319,950
  
                                 
Denominator:
                                
Weighted average basic common shares outstanding
    
110,205,460
      
118,338,891
      
112,778,362
      
119,188,145
  
Effect of dilutive securities:
                                
Share-based awards
    
875,214
      
643,602
      
881,500
      
605,860
  
1.625% convertible senior notes due 2018
    
7,174,013
      
7,165,845
      
7,174,013
      
7,165,845
  
0.25% convertible senior notes due 2019
    
3,642,200
      
3,638,080
      
3,642,200
      
3,638,080
  
1.25% convertible senior notes due 2032
    
2,553,025
      
6,290,997
      
5,045,404
      
6,290,997
  
Weighted average diluted shares outstanding
    
124,449,912
      
136,077,415
      
129,521,479
      
136,888,927
  
                                 
Income per common share:
                                
Basic
   $
0.84
     $
1.12
     $
2.43
     $
2.66
  
Diluted
   $
0.75
     $
0.97
     $
2.14
     $
2.34
  
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Marketable Securities, Available-for-sale (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
   
September 30, 2017
    
December 31, 2016
  
   
Amortized
Cost
    
Gross
Unrealized
Losses
    
Estimated
Fair Value
    
Amortized
Cost
    
Gross
Unrealized
Losses
    
Estimated
Fair Value
  
   
(Dollars in thousands)
  
Type of security:
                                                
Municipal bond and metropolitan district securities
   $
24,994
     $
(465
 )   $
24,529
     $
18,563
     $
(465
 )   $
18,098
  
Investments Classified by Contractual Maturity Date [Table Text Block]
   
September 30, 2017
  
   
(Dollars in thousands)
  
Contractual maturity:
        
Maturing in one year or less
   $
—
  
Maturing after three years
    
24,529
  
Total marketable securities, available-for-sale
   $
24,529
  
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Inventories (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Inventories Owned [Table Text Block]
   
September 30, 2017
  
   
North
    
Southeast
    
Southwest
    
West
    
Total
  
   
(Dollars in thousands)
  
                                         
Land and land under development (1)
   $
136,182
     $
993,953
     $
420,686
     $
1,335,910
     $
2,886,731
  
Homes completed and under construction
    
790,486
      
928,157
      
966,286
      
939,488
      
3,624,417
  
Model homes
    
57,518
      
112,197
      
102,969
      
162,934
      
435,618
  
Total inventories owned
   $
984,186
     $
2,034,307
     $
1,489,941
     $
2,438,332
     $
6,946,766
  
   
December 31, 2016
  
   
North
    
Southeast
    
Southwest
    
West
    
Total
  
   
(Dollars in thousands)
  
                                         
Land and land under development (1)
   $
445,245
     $
1,177,646
     $
594,585
     $
1,410,264
     $
3,627,740
  
Homes completed and under construction
    
327,421
      
585,938
      
710,509
      
680,241
      
2,304,109
  
Model homes
    
79,306
      
132,968
      
116,575
      
178,094
      
506,943
  
Total inventories owned
   $
851,972
     $
1,896,552
     $
1,421,669
     $
2,268,599
     $
6,438,792
  
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 9 - Capitalization of Interest (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Capitalized Interest [Table Text Block]
   
Three Months Ended September 30,
    
Nine Months Ended
September 30,
  
   
2017
    
2016
    
2017
    
2016
  
   
(Dollars in thousands)
  
                                 
Total interest incurred (1)
   $
52,972
     $
56,872
     $
156,845
     $
175,207
  
Less: Interest capitalized to inventories owned (1)
    
(52,158
 )    
(55,761
 )    
(154,371
 )    
(172,170
 )
Less: Interest capitalized to investments in unconsolidated joint ventures
    
(814
 )    
(1,111
 )    
(2,474
 )    
(3,037
 )
Interest expense
   $
—
     $
—
     $
—
     $
—
  
                                 
Interest previously capitalized to inventories owned, included in cost of home sales
   $
48,912
     $
44,636
     $
140,687
     $
115,367
  
Interest previously capitalized to inventories owned, included in cost of land sales
   $
—
     $
115
     $
—
     $
1,596
  
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures
   $
5
     $
613
     $
13
     $
613
  
Interest capitalized in ending inventories owned (2)
   $
379,884
     $
362,807
     $
379,884
     $
362,807
  
Interest capitalized as a percentage of inventories owned
    
5.5
 %    
5.6
 %    
5.5
 %    
5.6
 %
Interest capitalized in ending investments in unconsolidated joint ventures (2)
   $
5,324
     $
3,224
     $
5,324
     $
3,224
  
Interest capitalized as a percentage of investments in unconsolidated joint ventures
    
4.1
 %    
2.3
 %    
4.1
 %    
2.3
 %
XML 43 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 11 - Warranty Costs (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Product Warranty Liability [Table Text Block]
   
Nine Months Ended September 30,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
                 
Warranty accrual, beginning of the period
   $
43,932
     $
40,691
  
Warranty costs accrued during the period
    
16,097
      
16,903
  
Warranty costs paid during the period
    
(18,303
 )    
(15,088
 )
Warranty accrual, end of the period
   $
41,726
     $
42,506
  
XML 44 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 14 - Senior Notes Payable (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Debt [Table Text Block]
   
September 30,
    
December 31,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
                 
8.4% Senior Notes due May 2017
  
 
―
     $
235,175
  
8.375% Senior Notes due May 2018
    
574,784
      
574,501
  
1.625% Convertible Senior Notes due May 2018
    
222,757
      
220,236
  
0.25% Convertible Senior notes due June 2019
    
258,035
      
253,777
  
6.625% Senior Notes due May 2020
    
315,430
      
319,909
  
8.375% Senior Notes due January 2021
    
396,087
      
395,246
  
6.25% Senior Notes due December 2021
    
297,980
      
297,623
  
5.375% Senior Notes due October 2022
    
249,331
      
249,230
  
5.875% Senior Notes due November 2024
    
426,558
      
296,982
  
5.25% Senior Notes due June 2026
    
395,323
      
297,483
  
5.00% Senior Notes due June 2027
    
347,103
    
 
―
  
1.25% Convertible Senior Notes due August 2032
  
 
―
      
252,046
  
    $
3,483,388
     $
3,392,208
  
XML 45 R35.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 16 - Disclosures About Fair Value (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
   
 
 
 
  
Fair Value at
  
   
Fair Value
Hierarchy
    
September 30,
2017
    
December 31,
2016
  
   
 
 
 
  
(Dollars in thousands)
  
                         
Marketable securities, available-for-sale
                        
Municipal debt securities
    
Level 2
     $
9,387
     $
9,387
  
Metropolitan district bond securities
    
Level 3
     $
15,142
     $
8,711
  
Mortgage loans held for sale
    
Level 2
     $
163,352
     $
265,542
  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
   
 
 
 
  
September 30, 2017
    
December 31, 2016
  
Description
  
Fair Value
Hierarchy
    
Carrying
Amount
    
Fair Value
    
Carrying
Amount
    
Fair Value
  
   
 
 
 
  
(Dollars in thousands)
  
                                         
Financial services assets:
                                        
Mortgage loans held for investment, net
    
2
     $
25,510
     $
25,510
     $
24,924
     $
24,924
  
Homebuilding liabilities:
                                        
Senior and convertible senior notes payable, net
    
2
     $
3,483,388
     $
3,753,098
     $
3,392,208
     $
3,617,838
  
XML 46 R36.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 20 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
   
Nine Months Ended
September 30,
  
   
2017
    
2016
  
   
(Dollars in thousands)
  
Supplemental Disclosures of Cash Flow Information:
  
 
 
 
  
 
 
 
Cash paid during the period for:
                
Income taxes
   $
177,332
     $
150,822
  
                 
Supplemental Disclosures of Noncash Activities:
  
 
 
 
  
 
 
 
Increase in secured project debt for assets acquired
   $
16,480
     $
25,625
  
XML 47 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 21 - Supplemental Guarantor Information (Tables)
 9 Months Ended
Sep. 30, 2017
Notes Tables  
Condensed Income Statement [Table Text Block]
   
Three Months Ended September 30, 2017
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
647,336
     $
632,262
     $
236,245
     $
—
     $
1,515,843
  
Cost of sales
    
(528,858
 )    
(505,367
 )    
(178,483
 )    
—
      
(1,212,708
 )
Gross margin
    
118,478
      
126,895
      
57,762
      
—
      
303,135
  
Selling, general and administrative expenses
    
(68,237
 )    
(80,147
 )    
(20,045
 )    
—
      
(168,429
 )
Income (loss) from unconsolidated joint ventures
    
981
      
252
      
4,193
      
—
      
5,426
  
Equity income of subsidiaries
    
62,765
      
—
      
—
      
(62,765
 )    
—
  
Interest income (expense), net
    
845
      
(519
 )    
(326
 )    
—
      
—
  
Other income (expense)
    
(3,714
 )    
(287
 )    
2,763
      
—
      
(1,238
 )
Homebuilding pretax income
    
111,118
      
46,194
      
44,347
      
(62,765
 )    
138,894
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
7,278
      
—
      
7,278
  
Income before taxes
    
111,118
      
46,194
      
51,625
      
(62,765
 )    
146,172
  
Provision for income taxes
    
(17,766
 )    
(22,788
 )    
(12,266
 )    
—
      
(52,820
 )
Net income
   $
93,352
     $
23,406
     $
39,359
     $
(62,765
 )   $
93,352
  
   
Three Months Ended September 30, 2016
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
707,397
     $
656,095
     $
307,466
     $
—
     $
1,670,958
  
Cost of sales
    
(561,856
 )    
(520,810
 )    
(213,600
 )    
—
      
(1,296,266
 )
Gross margin
    
145,541
      
135,285
      
93,866
      
—
      
374,692
  
Selling, general and administrative expenses
    
(75,217
 )    
(75,834
 )    
(19,764
 )    
—
      
(170,815
 )
Income (loss) from unconsolidated joint ventures
    
(717
 )    
44
      
1,904
      
—
      
1,231
  
Equity income of subsidiaries
    
95,380
      
—
      
—
      
(95,380
 )    
—
  
Interest income (expense), net
    
1,075
      
(886
 )    
(189
 )    
—
      
—
  
Other income (expense)
    
(3,602
 )    
(762
 )    
195
      
—
      
(4,169
 )
Homebuilding pretax income
    
162,460
      
57,847
      
76,012
      
(95,380
 )    
200,939
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
9,807
      
—
      
9,807
  
Income before taxes
    
162,460
      
57,847
      
85,819
      
(95,380
 )    
210,746
  
Provision for income taxes
    
(30,112
 )    
(23,111
 )    
(25,175
 )    
—
      
(78,398
 )
Net income
   $
132,348
     $
34,736
     $
60,644
     $
(95,380
 )   $
132,348
  
   
 
Nine Months Ended September 30, 2017
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
1,955,915
     $
1,835,567
     $
683,174
     $
—
     $
4,474,656
  
Cost of sales
    
(1,592,317
 )    
(1,468,154
 )    
(512,348
 )    
—
      
(3,572,819
 )
Gross margin
    
363,598
      
367,413
      
170,826
      
—
      
901,837
  
Selling, general and administrative expenses
    
(203,674
 )    
(237,232
 )    
(57,796
 )    
—
      
(498,702
 )
Income (loss) from unconsolidated joint ventures
    
2,006
      
550
      
7,204
      
—
      
9,760
  
Equity income of subsidiaries
    
178,762
      
—
      
—
      
(178,762
 )    
—
  
Interest income (expense), net
    
2,439
      
(1,724
 )    
(715
 )    
—
      
—
  
Other income (expense)
    
(9,612
 )    
(543
 )    
6,073
      
—
      
(4,082
 )
Homebuilding pretax income
    
333,519
      
128,464
      
125,592
      
(178,762
 )    
408,813
  
                                         
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
23,475
      
—
      
23,475
  
Income before taxes
    
333,519
      
128,464
      
149,067
      
(178,762
 )    
432,288
  
Provision for income taxes
    
(58,553
 )    
(61,411
 )    
(37,358
 )    
—
      
(157,322
 )
Net income
   $
274,966
     $
67,053
     $
111,709
     $
(178,762
 )   $
274,966
  
   
Nine Months Ended September 30, 2016
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-
Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Revenues
   $
1,817,935
     $
1,866,598
     $
750,470
     $
—
     $
4,435,003
  
Cost of sales
    
(1,451,579
 )    
(1,486,644
 )    
(533,543
 )    
—
      
(3,471,766
 )
Gross margin
    
366,356
      
379,954
      
216,927
      
—
      
963,237
  
Selling, general and administrative expenses
    
(201,503
 )    
(220,595
 )    
(51,112
 )    
—
      
(473,210
 )
Income (loss) from unconsolidated joint ventures
    
29
      
444
      
2,170
      
—
      
2,643
  
Equity income of subsidiaries
    
229,414
      
—
      
—
      
(229,414
 )    
—
  
Interest income (expense), net
    
3,685
      
(2,785
 )    
(900
 )    
—
      
—
  
Other income (expense)
    
(10,885
 )    
(1,241
 )    
134
      
—
      
(11,992
 )
Homebuilding pretax income
    
387,096
      
155,777
      
167,219
      
(229,414
 )    
480,678
  
                                         
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Financial services pretax income
    
—
      
—
      
24,889
      
—
      
24,889
  
Income before taxes
    
387,096
      
155,777
      
192,108
      
(229,414
 )    
505,567
  
Provision for income taxes
    
(69,327
 )    
(66,659
 )    
(51,812
 )    
—
      
(187,798
 )
Net income
   $
317,769
     $
89,118
     $
140,296
     $
(229,414
 )   $
317,769
  
Condensed Balance Sheet [Table Text Block]
   
September 30, 2017
  
   
CalAtlantic
Group, Inc.
    
Guarantor
Subsidiaries
    
Non-Guarantor
Subsidiaries
    
Consolidating
Adjustments
    
Consolidated
CalAtlantic
Group, Inc.
  
   
(Dollars in thousands)
  
ASSETS
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Cash and equivalents
   $
25,694
     $
31,465
     $
26,151
     $
—
     $
83,310
  
Restricted cash
    
—
      
—
      
29,620
      
—
      
29,620
  
Intercompany receivables
    
2,121,692
      
—
      
398,530
      
(2,520,222
 )    
—
  
Inventories:
                                        
Owned
    
3,208,403
      
2,279,408
      
1,458,955
      
—
      
6,946,766
  
Not owned
    
44,285
      
37,100
      
10,559
      
—
      
91,944
  
Investments in unconsolidated joint ventures
    
5,895
      
3,750
      
121,047
      
—
      
130,692
  
Investments in subsidiaries
    
2,131,970
      
—
      
—
      
(2,131,970
 )    
—
  
Deferred income taxes, net
    
313,894
      
—
      
—
      
(6,643
 )    
307,251
  
Goodwill
    
970,185
      
—
      
15,000
      
—
      
985,185
  
Other assets
    
172,296
      
43,380
      
19,459
      
—
      
235,135
  
Total Homebuilding Assets
    
8,994,314
      
2,395,103
      
2,079,321
      
(4,658,835
 )    
8,809,903
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Cash and equivalents
    
—
      
—
      
46,357
      
—
      
46,357
  
Restricted cash
    
—
      
—
      
21,205
      
—
      
21,205
  
Mortgage loans held for sale, net
    
—
      
—
      
160,068
      
—
      
160,068
  
Mortgage loans held for investment, net
    
—
      
—
      
25,510
      
—
      
25,510
  
Other assets
    
—
      
—
      
17,792
      
(1,801
 )    
15,991
  
Total Financial Services Assets
    
—
      
—
      
270,932
      
(1,801
 )    
269,131
  
Total Assets
   $
8,994,314
     $
2,395,103
     $
2,350,253
     $
(4,660,636
 )   $
9,079,034
  
                                         
LIABILITIES AND EQUITY
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Homebuilding:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Accounts payable
   $
95,533
     $
58,196
     $
24,023
     $
—
     $
177,752
  
Accrued liabilities and intercompany payables
    
365,920
      
1,260,516
      
1,066,124
      
(2,130,136
 )    
562,424
  
Revolving credit facility
    
295,600
      
—
      
—
      
—
      
295,600
  
Secured project debt and other notes payable
    
424,662
      
—
      
17,018
      
(398,530
 )    
43,150
  
Senior notes payable
    
3,483,388
      
—
      
—
      
—
      
3,483,388
  
Total Homebuilding Liabilities
    
4,665,103
      
1,318,712
      
1,107,165
      
(2,528,666
 )    
4,562,314
  
Financial Services:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Accounts payable and other liabilities
    
—
      
—
      
20,831
      
—
      
20,831
  
Mortgage credit facility
    
—
      
—
      
152,786
      
—
      
152,786
  
Total Financial Services Liabilities
    
—
      
—
      
173,617
      
—
      
173,617
  
Total Liabilities
    
4,665,103
      
1,318,712
      
1,280,782
      
(2,528,666
 )    
4,735,931
  
                                         
Equity:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Total Stockholders' Equity
    
4,329,211
      
1,076,391
      
1,055,579
      
(2,131,970
 )    
4,329,211
  
Noncontrolling interest
    
—
      
—
      
13,892
      
—
      
13,892
  
Total Equity
    
4,329,211
      
1,076,391
      
1,069,471
      
(2,131,970
 )    
4,343,103
  
Total Liabilities and Equity
   $
8,994,314
     $
2,395,103
     $
2,350,253
     $
(4,660,636
 )   $
9,079,034
  
   
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
  
Condensed Cash Flow Statement [Table Text Block]
   
Nine Months Ended September 30, 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
   $
(287,435
 )   $
16,744
     $
147,216
     $
—
     $
(123,475
 )
                                         
Cash Flows From Investing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Investments in unconsolidated homebuilding joint ventures
    
(178
 )    
(79
 )    
(32,955
 )    
—
      
(33,212
 )
Distributions of capital from unconsolidated homebuilding joint ventures
    
500
      
1,867
      
10,403
      
—
      
12,770
  
Net cash paid for acquisitions
    
—
      
—
      
(44,477
 )    
—
      
(44,477
 )
Loan to parent and subsidiaries
    
—
      
—
      
(65,054
 )    
65,054
      
—
  
Other investing activities
    
(2,098
 )    
(1,519
 )    
(7,496
 )    
—
      
(11,113
 )
Net cash provided by (used in) investing activities
    
(1,776
 )    
269
      
(139,579
 )    
65,054
      
(76,032
 )
                                         
Cash Flows From Financing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Change in restricted cash
    
—
      
—
      
(794
 )    
—
      
(794
 )
Borrowings from revolving credit facility
    
685,550
      
—
      
—
      
—
      
685,550
  
Principal payments on revolving credit facility
    
(389,950
 )    
—
      
—
      
—
      
(389,950
 )
Principal payments on secured project debt and other notes payable
    
—
      
—
      
(909
 )    
—
      
(909
 )
Principal payment on senior notes payable
    
(483,000
 )    
—
      
—
      
—
      
(483,000
 )
Proceeds from the issuance of senior notes payable
    
579,125
      
—
      
—
      
—
      
579,125
  
Payment of debt issuance costs
    
(5,019
 )    
—
      
—
      
—
      
(5,019
 )
Loan from subsidiary
    
65,054
      
—
      
—
      
(65,054
 )    
—
  
Net proceeds from (payments on) mortgage credit facility
    
—
      
—
      
(94,641
 )    
—
      
(94,641
 )
(Contributions to) distributions from Corporate and subsidiaries
    
1,210
      
—
      
(1,210
 )    
—
      
—
  
Repurchases of common stock
    
(150,014
 )    
—
      
—
      
—
      
(150,014
 )
Common stock dividend payments
    
(13,427
 )    
—
      
—
      
—
      
(13,427
 )
Issuance of common stock under employee stock plans, net of tax withholdings
    
(5,807
 )    
—
      
—
      
—
      
(5,807
 )
Other financing activities
    
—
      
—
      
(67
 )    
—
      
(67
 )
Intercompany advances, net
    
(74,078
 )    
(23,759
 )    
97,837
      
—
      
—
  
Net cash provided by (used in) financing activities
    
209,644
      
(23,759
 )    
216
      
(65,054
 )    
121,047
  
                                         
Net increase (decrease) in cash and equivalents
    
(79,567
 )    
(6,746
 )    
7,853
      
—
      
(78,460
 )
Cash and equivalents at beginning of period
    
105,261
      
38,211
      
64,655
      
—
      
208,127
  
Cash and equivalents at end of period
   $
25,694
     $
31,465
     $
72,508
     $
—
     $
129,667
  
   
Nine Months Ended September 30, 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
   $
(49,169
 )   $
16,087
     $
200,744
     $
—
     $
167,662
  
                                         
Cash Flows From Investing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Investments in unconsolidated homebuilding joint ventures
    
(235
 )    
(192
 )    
(26,573
 )    
—
      
(27,000
 )
Distributions of capital from unconsolidated homebuilding joint ventures
    
1,107
      
333
      
22,287
      
—
      
23,727
  
Loan to parent and subsidiaries
    
—
      
—
      
(88,800
 )    
88,800
      
—
  
Other investing activities
    
(325
 )    
(1,958
 )    
(3,106
 )    
—
      
(5,389
 )
Net cash provided by (used in) investing activities
    
547
      
(1,817
 )    
(96,192
 )    
88,800
      
(8,662
 )
                                         
Cash Flows From Financing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Change in restricted cash
    
—
      
—
      
7,309
      
—
      
7,309
  
Borrowings from revolving credit facility
    
1,008,000
      
—
      
—
      
—
      
1,008,000
  
Principal payments on revolving credit facility
    
(862,000
 )    
—
      
—
      
—
      
(862,000
 )
Principal payments on secured project debt and other notes payable
    
(9,985
 )    
—
      
(404
 )    
—
      
(10,389
 )
Principal payments on senior notes payable
    
(280,000
 )    
—
      
—
      
—
      
(280,000
 )
Proceeds from the issuance of senior notes payable
    
300,000
      
—
      
—
      
—
      
300,000
  
Payment of debt issue costs
    
(2,657
 )    
—
      
—
      
—
      
(2,657
 )
Loan from subsidiary
    
88,800
      
—
      
—
      
(88,800
 )    
—
  
Net proceeds from (payments on) mortgage credit facility
    
—
      
—
      
(141,524
 )    
—
      
(141,524
 )
(Contributions to) distributions from Corporate and subsidiaries
    
18,350
      
—
      
(18,350
 )    
—
      
—
  
Repurchases of common stock
    
(137,464
 )    
—
      
—
      
—
      
(137,464
 )
Common stock dividend payments
    
(14,264
 )    
—
      
—
      
—
      
(14,264
 )
Issuance of common stock under employee stock plans, net of tax withholdings
    
1,868
      
—
      
—
      
—
      
1,868
  
Other financing activities
    
—
      
(199
 )    
—
      
—
      
(199
 )
Intercompany advances, net
    
49,757
      
(95,992
 )    
46,235
      
—
      
—
  
Net cash provided by (used in) financing activities
    
160,405
      
(96,191
 )    
(106,734
 )    
(88,800
 )    
(131,320
 )
                                         
Net increase (decrease) in cash and equivalents
    
111,783
      
(81,921
 )    
(2,182
 )    
—
      
27,680
  
Cash and equivalents at beginning of period
    
6,387
      
112,852
      
67,355
      
—
      
186,594
  
Cash and equivalents at end of period
   $
118,170
     $
30,931
     $
65,173
     $
—
     $
214,274
  
XML 48 R38.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Segment Reporting (Details Textual)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2017
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2017
USD ($)
Sep. 30, 2016
USD ($)
Number of Operating Segments     2  
Number of Reportable Segments     4  
Homebuilding [Member] | North [Member]        
Depreciation, Depletion and Amortization, Nonproduction $ 2.0 $ 1.7 $ 5.6 $ 4.5
Homebuilding [Member] | Southeast [Member]        
Depreciation, Depletion and Amortization, Nonproduction 4.5 4.2 12.2 11.2
Homebuilding [Member] | Southwest [Member]        
Depreciation, Depletion and Amortization, Nonproduction 2.3 2.8 7.8 8.6
Homebuilding [Member] | West [Member]        
Depreciation, Depletion and Amortization, Nonproduction $ 5.3 $ 7.1 $ 16.1 $ 18.9
XML 49 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Segment Reporting - Segment Financial Information Relating to Homebuilding Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Homebuilding revenues $ 1,515,843 $ 1,670,958 $ 4,474,656 $ 4,435,003
Homebuilding pretax income 138,894 200,939 408,813 480,678
Homebuilding income (loss) from unconsolidated joint ventures 5,426 1,231 9,760 2,643
Homebuilding [Member]        
Homebuilding revenues 1,515,843 1,670,958 4,474,656 4,435,003
Homebuilding pretax income [1] 138,894 200,939 408,813 480,678
Homebuilding income (loss) from unconsolidated joint ventures 5,426 1,231 9,760 2,643
Homebuilding [Member] | North [Member]        
Homebuilding revenues 282,591 283,060 848,438 710,889
Homebuilding pretax income [1] 25,895 25,627 74,492 53,177
Homebuilding income (loss) from unconsolidated joint ventures 78 113 525 486
Homebuilding [Member] | Southeast [Member]        
Homebuilding revenues 427,244 400,720 1,207,616 1,065,038
Homebuilding pretax income [1] 30,094 31,303 85,695 84,125
Homebuilding income (loss) from unconsolidated joint ventures 437
Homebuilding [Member] | Southwest [Member]        
Homebuilding revenues 356,952 389,160 1,099,803 1,165,797
Homebuilding pretax income [1] 31,648 39,312 100,757 113,145
Homebuilding income (loss) from unconsolidated joint ventures 252 44 515 869
Homebuilding [Member] | West [Member]        
Homebuilding revenues 449,056 598,018 1,318,799 1,493,279
Homebuilding pretax income [1] 51,257 104,697 147,869 230,231
Homebuilding income (loss) from unconsolidated joint ventures $ 5,096 $ 1,074 $ 8,720 $ 851
[1] Homebuilding pretax income includes depreciation and amortization expense of $2.0 million, $4.5 million, $2.3 million and $5.3 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2017 and $1.7 million, $4.2 million, $2.8 million and $7.1 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2016. Homebuilding pretax income includes depreciation and amortization expense of $5.6 million, $12.2 million, $7.8 million and $16.1 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2017 and $4.5 million, $11.2 million, $8.6 million and $18.9 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2016.
XML 50 R40.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 3 - Segment Reporting - Segment Financial Information Relating to Homebuilding Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Assets $ 9,079,034 $ 8,709,044
Homebuilding [Member]    
Assets 8,809,903 8,356,645
Homebuilding investments in unconsolidated joint ventures 130,692 127,127
Homebuilding [Member] | Corporate, Non-Segment [Member]    
Assets 485,221 578,780
Homebuilding [Member] | North [Member]    
Assets 1,347,835 1,181,544
Homebuilding investments in unconsolidated joint ventures 5,829 5,691
Homebuilding [Member] | Southeast [Member]    
Assets 2,375,363 2,253,289
Homebuilding investments in unconsolidated joint ventures 162 334
Homebuilding [Member] | Southwest [Member]    
Assets 1,895,329 1,842,869
Homebuilding investments in unconsolidated joint ventures 4,855 6,085
Homebuilding [Member] | West [Member]    
Assets 2,706,155 2,500,163
Homebuilding investments in unconsolidated joint ventures $ 119,846 $ 115,017
XML 51 R41.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net income $ 93,352 $ 132,348 $ 274,966 $ 317,769
Less: Net income allocated to unvested restricted stock (400) (294) (1,104) (635)
Net income available to common stockholders for basic earnings per common share 92,952 132,054 273,862 317,134
Effect of dilutive securities:        
Net income available to common stock for diluted earnings per share $ 93,179 $ 132,289 $ 276,753 $ 319,950
Weighted average basic common shares outstanding (in shares) 110,205,460 118,338,891 112,778,362 119,188,145
Share-based awards (in shares) 875,214 643,602 881,500 605,860
Weighted average diluted shares outstanding (in shares) 124,449,912 136,077,415 129,521,479 136,888,927
Income Per Common Share:        
Basic (in dollars per share) $ 0.84 $ 1.12 $ 2.43 $ 2.66
Diluted (in dollars per share) $ 0.75 $ 0.97 $ 2.14 $ 2.34
1.625% Convertible Senior Notes due May 2018 [Member]        
Effect of dilutive securities:        
Interest on convertible senior notes $ 94 $ 91 $ 1,123 $ 1,088
Interest on convertible senior notes (in shares) 7,174,013 7,165,845 7,174,013 7,165,845
0.25% Convertible Senior Notes Due June 2019 [Member]        
Effect of dilutive securities:        
Interest on convertible senior notes $ 85 $ 82 $ 1,016 $ 984
Interest on convertible senior notes (in shares) 3,642,200 3,638,080 3,642,200 3,638,080
1.25% Convertible Senior Notes Due August 2032 [Member]        
Effect of dilutive securities:        
Interest on convertible senior notes $ 48 $ 62 $ 752 $ 744
Interest on convertible senior notes (in shares) 2,553,025 6,290,997 5,045,404 6,290,997
XML 52 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) (Parentheticals)
Sep. 30, 2017
Aug. 31, 2017
Sep. 30, 2016
Mar. 31, 2016
1.625% Convertible Senior Notes due May 2018 [Member]        
Interest rate 1.625%   1.625% 1.625%
0.25% Convertible Senior Notes Due June 2019 [Member]        
Interest rate 0.25%   0.25%  
1.25% Convertible Senior Notes Due August 2032 [Member]        
Interest rate 1.25% 1.25% 1.25%  
XML 53 R43.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 5 - Stock-based Compensation (Details Textual) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Allocated Share-based Compensation Expense $ 5.1 $ 3.7 $ 14.3 $ 11.2
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized $ 31.3   $ 31.3  
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition     2 years 73 days  
XML 54 R44.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 6 - Cash and Equivalents and Restricted Cash (Details Textual) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Sep. 30, 2016
Dec. 31, 2015
Cash and Cash Equivalents, at Carrying Value $ 129,667 $ 208,127 $ 214,274 $ 186,594
Homebuilding [Member]        
Cash and Cash Equivalents, at Carrying Value 83,310 191,086    
Restricted Cash and Cash Equivalents 29,620 28,321    
Financial Services [Member]        
Cash and Cash Equivalents, at Carrying Value 46,357 17,041    
Restricted Cash and Cash Equivalents 21,205 $ 21,710    
Cash From Home Closings in Escrow [Member]        
Cash and Cash Equivalents, at Carrying Value 80,800      
Held in Cash Collateral Accounts [Member] | Homebuilding [Member]        
Restricted Cash and Cash Equivalents 29,600      
Held in Cash Collateral Accounts [Member] | Financial Services [Member]        
Restricted Cash and Cash Equivalents 17,700      
Financial Service Subsidiary Mortgage Credit Facilities [Member] | Financial Services [Member]        
Restricted Cash and Cash Equivalents 3,000      
Funds Held in Trust for Third Parties [Member] | Financial Services [Member]        
Restricted Cash and Cash Equivalents $ 500      
XML 55 R45.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Marketable Securities, Available-for-sale (Details Textual)
 9 Months Ended
Sep. 30, 2017
USD ($)
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax $ 172,000
Available-for-sale Securities [Member]  
Realized Investment Gains (Losses) $ 173,000
XML 56 R46.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Marketable Securities, Available-for-sale - Fair Values by Type of Security (Details) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Gross unrealized losses $ (172,000)  
Estimated fair value 24,529,000  
Municipal Bond and Metropolitan District Securities [Member]    
Amortized cost 24,994,000 $ 18,563,000
Gross unrealized losses (465,000) (465,000)
Estimated fair value $ 24,529,000 $ 18,098,000
XML 57 R47.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 7 - Marketable Securities, Available-for-sale - Contractual Maturity (Details)
$ in Thousands
Sep. 30, 2017
USD ($)
Maturing in one year or less $ 0
Maturing after three years 24,529
Total marketable securities, available-for-sale $ 24,529
XML 58 R48.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Inventories (Details Textual)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2017
USD ($)
Sep. 30, 2017
USD ($)
Sep. 30, 2016
USD ($)
Dec. 31, 2016
USD ($)
Inventory, Real Estate, Land and Land Development Costs, Land Purchased During Period   $ 732,400   $ 960,800
Inventory, Real Estate, Number of Homesites Purchased During the Period   10,694   13,566
Number of Active and Future Projects Owned   901 879  
Impairment of Real Estate   $ 0 $ 0  
Homebuilding Operations from Seattle-based Developer [Member]        
Business Combination, Number of Current and Future Communities Acquired 19      
Business Combination, Consideration Transferred $ 44,500      
Goodwill 15,000      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other 100      
Homebuilding Operations from Seattle-based Developer [Member] | Inventory Owned [Member]        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory 25,700      
Homebuilding Operations from Seattle-based Developer [Member] | Inventory Not Owned [Member]        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory $ 3,900      
Homebuilding [Member]        
Goodwill   $ 985,185   $ 970,185
Homebuilding [Member] | North [Member]        
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category   27.00%   25.00%
Homebuilding [Member] | Southeast [Member]        
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category   34.00%   25.00%
Homebuilding [Member] | Southwest [Member]        
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category   18.00%   24.00%
Homebuilding [Member] | West [Member]        
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category   21.00%   26.00%
XML 59 R49.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 8 - Inventories - Inventories Owned (Details) - Homebuilding [Member] - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Land and land under development [1] $ 2,886,731 $ 3,627,740
Homes completed and under construction 3,624,417 2,304,109
Model homes 435,618 506,943
Total inventories owned 6,946,766 6,438,792
North [Member]    
Land and land under development [1] 136,182 445,245
Homes completed and under construction 790,486 327,421
Model homes 57,518 79,306
Total inventories owned 984,186 851,972
Southeast [Member]    
Land and land under development [1] 993,953 1,177,646
Homes completed and under construction 928,157 585,938
Model homes 112,197 132,968
Total inventories owned 2,034,307 1,896,552
Southwest [Member]    
Land and land under development [1] 420,686 594,585
Homes completed and under construction 966,286 710,509
Model homes 102,969 116,575
Total inventories owned 1,489,941 1,421,669
West [Member]    
Land and land under development [1] 1,335,910 1,410,264
Homes completed and under construction 939,488 680,241
Model homes 162,934 178,094
Total inventories owned $ 2,438,332 $ 2,268,599
[1] During the nine months ended September 30, 2017, we purchased $304.7 million of land (10,694 homesites), of which 27% (based on homesites) were located in the North, 34% in the Southeast, 18% in the Southwest, and 21% in the West. During the year ended December 31, 2016, we purchased $960.8 million of land (13,566 homesites), of which 25% (based on homesites) were located in the North, 25% in the Southeast, 24% in the Southwest, and 26% in the West.
XML 60 R50.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 9 - Capitalization of Interest (Details Textual) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2017
Sep. 30, 2016
Mar. 31, 2016
Capitalized Interest Transferred from Investments in Unconsolidated Joint Ventures to Inventories Owned $ 0 $ 500,000    
1.625% Convertible Senior Notes due May 2018 [Member]        
Debt Instrument, Increase (Decrease) In Interest Incurred, Net of Interest Capitalized, Valuation of Business Combination     $ 9,000,000  
Debt Instrument, Interest Rate, Stated Percentage 1.625% 1.625% 1.625% 1.625%
XML 61 R51.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 9 - Capitalization of Interest - Homebuilding Capitalized Interest (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Total interest incurred [1] $ 52,972 $ 56,872 $ 156,845 $ 175,207
Less: Interest capitalized to inventories owned [1] (52,158) (55,761) (154,371) (172,170)
Less: Interest capitalized to investments in unconsolidated joint ventures (814) (1,111) (2,474) (3,037)
Interest expense
Interest previously capitalized to inventories owned, included in cost of home sales 48,912 44,636 140,687 115,367
Interest previously capitalized to inventories owned, included in cost of land sales 115 1,596
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures 5 613 13 613
Interest capitalized in ending inventories owned [2] $ 379,884 $ 362,807 $ 379,884 $ 362,807
Interest capitalized as a percentage of inventories owned 5.50% 5.60% 5.50% 5.60%
Interest capitalized in ending investments in unconsolidated joint ventures [2] $ 5,324 $ 3,224 $ 5,324 $ 3,224
Interest capitalized as a percentage of investments in unconsolidated joint ventures 4.10% 2.30% 4.10% 2.30%
[1] Total interest incurred and interest capitalized to inventories owned during the nine months ended September 30, 2016 includes a $9 million increase related to the valuation of the 1.625% convertible senior notes that was completed during the 2016 first quarter.
[2] During the three and nine months ended September 30, 2017, in connection with lot purchases from our joint ventures, $0 and $0.5 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.
XML 62 R52.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 10 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures (Details Textual) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Asset Impairment Charges $ 0 $ 1,000 $ 0 $ 1,000  
Stockholders' Equity Attributable to Noncontrolling Interest $ 13,892   $ 13,892  
XML 63 R53.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 11 - Warranty Costs - Warranty Accrual (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Warranty accrual $ 43,932 $ 40,691
Warranty costs accrued during the period 16,097 16,903
Warranty costs paid during the period (18,303) (15,088)
Warranty accrual $ 41,726 $ 42,506
XML 64 R54.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 12 - Revolving Credit Facility and Letter of Credit Facilities (Details Textual)
$ in Millions
 9 Months Ended
Sep. 30, 2017
USD ($)
Cash Collateral Deposits $ 22.8
London Interbank Offered Rate (LIBOR) [Member]  
Debt Instrument, Basis Spread on Variable Rate 1.24%
Prime Rate [Member]  
Debt Instrument, Basis Spread on Variable Rate 4.25%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate 0.75%
Unsecured Revolving Credit Facility [Member]  
Line of Credit Facility, Current Borrowing Capacity $ 750.0
Line of Credit Facility, Maximum Borrowing Capacity 1,200.0
Line of Credit Facility Covenant, Minimum Tangible Net Worth Requirement $ 1,650.0
Line of Credit Facility Covenant, Maximum Leverage Ratio 2
Line of Credit Facility Covenant, Minimum Interest Coverage Ratio 1.25
Long-term Line of Credit $ 295.6
Letters of Credit Outstanding, Amount 119.2
Line of Credit Facility, Remaining Borrowing Capacity $ 335.2
Unsecured Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]  
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate 1.75%
Letter of Credit [Member]  
Line of Credit Facility, Current Borrowing Capacity $ 350.0
Letter of Credit [Member] | Four Committed Letter of Credit [Member]  
Line of Credit Facility, Maximum Borrowing Capacity 48.0
Letters of Credit Outstanding, Amount $ 22.4
XML 65 R55.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 13 - Secured Project Debt and Other Notes Payable (Details Textual) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Homebuilding [Member]    
Secured Debt $ 43,150 $ 27,579
XML 66 R56.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 14 - Senior Notes Payable (Details Textual) - USD ($)
 1 Months Ended 9 Months Ended
Aug. 31, 2017
May 31, 2017
Apr. 30, 2017
Sep. 30, 2017
Sep. 30, 2016
Jun. 30, 2017
Mar. 31, 2016
Proceeds from Issuance of Senior Long-term Debt     $ 225,000,000 $ 579,125,000 $ 300,000,000    
Repayments of Senior Debt       $ 483,000,000 $ 280,000,000    
1.625% Convertible Senior Notes due May 2018 [Member]              
Debt Instrument, Interest Rate, Stated Percentage       1.625% 1.625%   1.625%
Debt Instrument, Convertible, Conversion Ratio       31.8845      
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation       $ 1,000      
Debt Instrument, Convertible, Conversion Price       $ 31.36      
0.25% Convertible Senior Notes Due June 2019 [Member]              
Debt Instrument, Interest Rate, Stated Percentage       0.25% 0.25%    
Debt Instrument, Convertible, Conversion Ratio       13.6157      
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation       $ 1,000      
Debt Instrument, Convertible, Conversion Price       $ 73.44      
Debt Instrument, Convertible, Threshold Trading Days       20      
Debt Instrument, Convertible, Threshold Consecutive Trading Days       30      
Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold, Trading Period, Number of Trading Days, Number of Trading Days Immediately Preceding the Date On Which Notice of Redemption is Provided       5      
Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold       130.00%      
Debt Instrument, Redemption Price, Percentage       100.00%      
5.875% Senior Notes Due November 2024 [Member]              
Debt Instrument, Interest Rate, Stated Percentage     5.875%        
Proceeds from Issuance of Senior Long-term Debt     $ 125,000,000        
5.25% Senior Notes due June 2026 [Member]              
Debt Instrument, Interest Rate, Stated Percentage     5.25%        
Proceeds from Issuance of Senior Long-term Debt     $ 100,000,000        
8.4% Senior Notes Due May 2017 [Member]              
Debt Instrument, Interest Rate, Stated Percentage     8.40%        
Repayments of Senior Debt   $ 230,000,000          
5.00% Senior Notes Due 2027 [Member]              
Debt Instrument, Interest Rate, Stated Percentage           5.00%  
Debt Instrument, Face Amount           $ 350,000,000  
1.25% Convertible Senior Notes Due August 2032 [Member]              
Debt Instrument, Interest Rate, Stated Percentage 1.25%     1.25% 1.25%    
Debt Instrument, Redemption Price, Percentage 100.00%            
Repayments of Senior Debt $ 253,000,000            
XML 67 R57.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 14 - Senior Notes Payable - Senior Notes Payable (Details) - Homebuilding [Member] - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Senior notes payable $ 3,483,388 $ 3,392,208
8.4% Senior Notes Due May 2017 [Member]    
Senior notes payable 235,175
8.375% Senior Notes Due May 2018 [Member]    
Senior notes payable 574,784 574,501
1.625% Convertible Senior Notes due May 2018 [Member]    
Senior notes payable 222,757 220,236
0.25% Convertible Senior Notes Due June 2019 [Member]    
Senior notes payable 258,035 253,777
6.625% Senior Notes due May 2020 [Member]    
Senior notes payable 315,430 319,909
8.375% Senior Notes Due January 2021 [Member]    
Senior notes payable 396,087 395,246
6.25% Senior Notes Due December 15, 2021 [Member]    
Senior notes payable 297,980 297,623
5.375% Senior Notes Due October 2022 [Member]    
Senior notes payable 249,331 249,230
5.875% Senior Notes Due November 2024 [Member]    
Senior notes payable 426,558 296,982
5.25% Senior Notes due June 2026 [Member]    
Senior notes payable 395,323 297,483
5.00% Senior Notes Due 2027 [Member]    
Senior notes payable 347,103
1.25% Convertible Senior Notes Due August 2032 [Member]    
Senior notes payable $ 252,046
XML 68 R58.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 14 - Senior Notes Payable - Senior Notes Payable (Details) (Parentheticals)
Sep. 30, 2017
Aug. 31, 2017
Jun. 30, 2017
Apr. 30, 2017
Dec. 31, 2016
Sep. 30, 2016
Mar. 31, 2016
8.4% Senior Notes Due May 2017 [Member]              
Interest rate       8.40%      
1.625% Convertible Senior Notes due May 2018 [Member]              
Interest rate 1.625%         1.625% 1.625%
0.25% Convertible Senior Notes Due June 2019 [Member]              
Interest rate 0.25%         0.25%  
5.875% Senior Notes Due November 2024 [Member]              
Interest rate       5.875%      
5.25% Senior Notes due June 2026 [Member]              
Interest rate       5.25%      
5.00% Senior Notes Due 2027 [Member]              
Interest rate     5.00%        
1.25% Convertible Senior Notes Due August 2032 [Member]              
Interest rate 1.25% 1.25%       1.25%  
Homebuilding [Member] | 8.4% Senior Notes Due May 2017 [Member]              
Interest rate       8.40%    
Homebuilding [Member] | 8.375% Senior Notes Due May 2018 [Member]              
Interest rate 8.375%       8.375%    
Homebuilding [Member] | 1.625% Convertible Senior Notes due May 2018 [Member]              
Interest rate 1.625%       1.625%    
Homebuilding [Member] | 0.25% Convertible Senior Notes Due June 2019 [Member]              
Interest rate 0.25%       0.25%    
Homebuilding [Member] | 6.625% Senior Notes due May 2020 [Member]              
Interest rate 6.625%       6.625%    
Homebuilding [Member] | 8.375% Senior Notes Due January 2021 [Member]              
Interest rate 8.375%       8.375%    
Homebuilding [Member] | 6.25% Senior Notes Due December 15, 2021 [Member]              
Interest rate 6.25%       6.25%    
Homebuilding [Member] | 5.375% Senior Notes Due October 2022 [Member]              
Interest rate 5.375%       5.375%    
Homebuilding [Member] | 5.875% Senior Notes Due November 2024 [Member]              
Interest rate 5.875%       5.875%    
Homebuilding [Member] | 5.25% Senior Notes due June 2026 [Member]              
Interest rate 5.25%       5.25%    
Homebuilding [Member] | 5.00% Senior Notes Due 2027 [Member]              
Interest rate 5.00%          
Homebuilding [Member] | 1.25% Convertible Senior Notes Due August 2032 [Member]              
Interest rate 1.25%       1.25%    
XML 69 R59.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 15 - Mortgage Credit Facility (Details Textual) - Financial Services [Member] - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Warehouse Agreement Borrowings $ 152,786 $ 247,427
Standard Pacific [Member]    
Cash Collateral for Borrowed Securities 3,000  
Maturing January 2017 [Member] | Repurchase Facility [Member] | First Lender [Member]    
Line of Credit Facility, Maximum Borrowing Capacity $ 300,000  
XML 70 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 16 - Disclosures About Fair Value - Financial Instruments Measured On a Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Marketable securities, available-for-sale    
Marketable securities, available-for-sale $ 24,529  
Fair Value, Inputs, Level 2 [Member]    
Marketable securities, available-for-sale    
Mortgage loans held for sale 163,352 $ 265,542
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]    
Marketable securities, available-for-sale    
Marketable securities, available-for-sale 9,387 9,387
Fair Value, Inputs, Level 3 [Member] | Metropolitan District Bond Securities [Member]    
Marketable securities, available-for-sale    
Marketable securities, available-for-sale $ 15,142 $ 8,711
XML 71 R61.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 16 - Disclosures About Fair Value - Financial Instruments With Fair Value Option Not Elected (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Financial Services [Member] | Reported Value Measurement [Member]    
Mortgage loans held for investment, net $ 25,510 $ 24,924
Financial Services [Member] | Estimate of Fair Value Measurement [Member]    
Mortgage loans held for investment, net 25,510 24,924
Homebuilding [Member] | Reported Value Measurement [Member]    
Senior and convertible senior notes payable, net 3,483,388 3,392,208
Homebuilding [Member] | Estimate of Fair Value Measurement [Member]    
Senior and convertible senior notes payable, net $ 3,753,098 $ 3,617,838
XML 72 R62.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 17 - Commitments and Contingencies (Details Textual) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Nonrefundable Cash Deposits $ 80,300    
Capitalized Preacquisition and Other Development and Construction Costs 31,300    
Remaining Purchase Price of Land Purchase and Option Contracts $ 995,100    
Number of Joint Ventures the Company Holds Membership Interest In 28    
Number of Active Joint Ventures 14    
Number of Inactive Joint Ventures 14    
Number of Joint Ventures Having Project Specific Non-recourse Debt to the Company 0    
Outstanding Joint Venture Surety Bonds $ 0    
Outstanding Surety Bonds 1,002,200    
Surety Bonds Cost to Complete 506,100    
Mortgage Loans in Process $ 291,600    
Mortgage Loans in Process, Interest Rate 4.00%    
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage $ 163,400    
Mortgage Loans Committed to Sell to Investors 33,300    
Gain (Loss) on Mortgage Loan Related to Indemnification and Repurchase Allowance 300 $ 100  
Mortgage Loan Repurchase Reserve 3,800   $ 3,600
Mortgage Loan Repurchase Payments 100 $ 300  
Insurance and Litigation Accruals 233,800   $ 233,500
Mortgage Loans in Process [Member]      
Mortgage Loans Expected to be Originated on a Non-presold Basis $ 258,300    
XML 73 R63.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 18 - Income Taxes (Details Textual) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Income Tax Expense (Benefit) $ 52,820 $ 78,398 $ 157,322 $ 187,798  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 146,172 $ 210,746 432,288 $ 505,567  
Deferred Tax Assets, Operating Loss Carryforwards 96,000   96,000    
Deferred Tax Assets, Operating Loss Carryforwards, State and Local 15,600   15,600    
Deferred Tax Assets, Other 192,100   192,100    
Unrecognized Tax Benefits 14,000   $ 14,000   $ 12,100
Latest Tax Year [Member]          
Open Tax Year     2016    
Earliest Tax Year [Member]          
Open Tax Year     2012    
State and Local Net Operating Loss Carryforwards Limited to Shorter Carryforward Periods [Member]          
Deferred Tax Assets, Gross 309,200   $ 309,200    
Deferred Tax Assets, Valuation Allowance 1,900   1,900    
Subject to 382 Limitations [Member]          
Deferred Tax Assets, Operating Loss Carryforwards 16,100   16,100    
Not Limited by Section 382 [Member]          
Deferred Tax Assets, Operating Loss Carryforwards $ 5,000   $ 5,000    
XML 74 R64.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 19 - Subsequent Event (Details Textual) - Lenmar Corporation [Member]
$ / shares in Units, $ in Millions
Oct. 29, 2017
USD ($)
$ / shares
Business Acquisition, Share Price | $ / shares $ 48.26
Business Combination, Threshold Amount Allowed to be Paid For Cash Conversion of Common Stock Before it is Subject to Proration | $ $ 1,160
Common Class A [Member]  
Business Combination Conversion Ratio 0.885
XML 75 R65.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 20 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows - Supplemental Disclosures of Cash Flow Information (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Supplemental Disclosures of Cash Flow Information:    
Income taxes $ 177,332 $ 150,822
Increase in secured project debt for assets acquired $ 16,480 $ 25,625
XML 76 R66.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 21 - Supplemental Guarantor Information - Condensed Consolidating Statements of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues $ 1,515,843 $ 1,670,958 $ 4,474,656 $ 4,435,003
Cost of sales (1,212,708) (1,296,266) (3,572,819) (3,471,766)
Gross margin 303,135 374,692 901,837 963,237
Selling, general and administrative expenses (168,429) (170,815) (498,702) (473,210)
Income (loss) from unconsolidated joint ventures 5,426 1,231 9,760 2,643
Equity income of subsidiaries
Interest income (expense), net
Other income (expense) (1,238) (4,169) (4,082) (11,992)
Homebuilding pretax income 138,894 200,939 408,813 480,678
Financial services pretax income 7,278 9,807 23,475 24,889
Income before taxes 146,172 210,746 432,288 505,567
Provision for income taxes (52,820) (78,398) (157,322) (187,798)
Net income 93,352 132,348 274,966 317,769
Reportable Legal Entities [Member] | Parent Company [Member]        
Revenues 647,336 707,397 1,955,915 1,817,935
Cost of sales (528,858) (561,856) (1,592,317) (1,451,579)
Gross margin 118,478 145,541 363,598 366,356
Selling, general and administrative expenses (68,237) (75,217) (203,674) (201,503)
Income (loss) from unconsolidated joint ventures 981 (717) 2,006 29
Equity income of subsidiaries 62,765 95,380 178,762 229,414
Interest income (expense), net 845 1,075 2,439 3,685
Other income (expense) (3,714) (3,602) (9,612) (10,885)
Homebuilding pretax income 111,118 162,460 333,519 387,096
Financial services pretax income
Income before taxes 111,118 162,460 333,519 387,096
Provision for income taxes (17,766) (30,112) (58,553) (69,327)
Net income 93,352 132,348 274,966 317,769
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]        
Revenues 632,262 656,095 1,835,567 1,866,598
Cost of sales (505,367) (520,810) (1,468,154) (1,486,644)
Gross margin 126,895 135,285 367,413 379,954
Selling, general and administrative expenses (80,147) (75,834) (237,232) (220,595)
Income (loss) from unconsolidated joint ventures 252 44 550 444
Equity income of subsidiaries
Interest income (expense), net (519) (886) (1,724) (2,785)
Other income (expense) (287) (762) (543) (1,241)
Homebuilding pretax income 46,194 57,847 128,464 155,777
Financial services pretax income
Income before taxes 46,194 57,847 128,464 155,777
Provision for income taxes (22,788) (23,111) (61,411) (66,659)
Net income 23,406 34,736 67,053 89,118
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]        
Revenues 236,245 307,466 683,174 750,470
Cost of sales (178,483) (213,600) (512,348) (533,543)
Gross margin 57,762 93,866 170,826 216,927
Selling, general and administrative expenses (20,045) (19,764) (57,796) (51,112)
Income (loss) from unconsolidated joint ventures 4,193 1,904 7,204 2,170
Equity income of subsidiaries
Interest income (expense), net (326) (189) (715) (900)
Other income (expense) 2,763 195 6,073 134
Homebuilding pretax income 44,347 76,012 125,592 167,219
Financial services pretax income 7,278 9,807 23,475 24,889
Income before taxes 51,625 85,819 149,067 192,108
Provision for income taxes (12,266) (25,175) (37,358) (51,812)
Net income 39,359 60,644 111,709 140,296
Consolidation, Eliminations [Member]        
Revenues
Cost of sales
Gross margin
Selling, general and administrative expenses
Income (loss) from unconsolidated joint ventures
Equity income of subsidiaries (62,765) (95,380) (178,762) (229,414)
Interest income (expense), net
Other income (expense)
Homebuilding pretax income (62,765) (95,380) (178,762) (229,414)
Financial services pretax income
Income before taxes (62,765) (95,380) (178,762) (229,414)
Provision for income taxes
Net income $ (62,765) $ (95,380) $ (178,762) $ (229,414)
XML 77 R67.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 21 - Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Sep. 30, 2016
Dec. 31, 2015
ASSETS        
Cash and equivalents $ 129,667 $ 208,127 $ 214,274 $ 186,594
Inventories:        
Total assets 9,079,034 8,709,044    
Cash and equivalents 129,667 208,127 214,274 186,594
LIABILITIES AND EQUITY        
Total liabilities 4,735,931 4,501,458    
Stockholders' Equity:        
Total Stockholders' Equity 4,329,211 4,207,586    
Noncontrolling Interest 13,892    
Total Equity 4,343,103 4,207,586    
Total Liabilities and Equity 9,079,034 8,709,044    
Reportable Legal Entities [Member] | Parent Company [Member]        
ASSETS        
Cash and equivalents 25,694 105,261 118,170 6,387
Inventories:        
Total assets 8,994,314 8,438,528    
Cash and equivalents 25,694 105,261 118,170 6,387
LIABILITIES AND EQUITY        
Total liabilities 4,665,103 4,230,942    
Stockholders' Equity:        
Total Stockholders' Equity 4,329,211      
Noncontrolling Interest      
Total Equity 4,329,211 4,207,586    
Total Liabilities and Equity 8,994,314 8,438,528    
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]        
ASSETS        
Cash and equivalents 31,465 38,211 30,931 112,852
Inventories:        
Total assets 2,395,103 2,390,295    
Cash and equivalents 31,465 38,211 30,931 112,852
LIABILITIES AND EQUITY        
Total liabilities 1,318,712 1,380,957    
Stockholders' Equity:        
Total Stockholders' Equity 1,076,391      
Noncontrolling Interest      
Total Equity 1,076,391 1,009,338    
Total Liabilities and Equity 2,395,103 2,390,295    
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]        
ASSETS        
Cash and equivalents 72,508 64,655 65,173 67,355
Inventories:        
Total assets 2,350,253 2,223,782    
Cash and equivalents 72,508 64,655 65,173 67,355
LIABILITIES AND EQUITY        
Total liabilities 1,280,782 1,278,702    
Stockholders' Equity:        
Total Stockholders' Equity 1,055,579      
Noncontrolling Interest 13,892      
Total Equity 1,069,471 945,080    
Total Liabilities and Equity 2,350,253 2,223,782    
Consolidation, Eliminations [Member]        
ASSETS        
Cash and equivalents
Inventories:        
Total assets (4,660,636) (4,343,561)    
Cash and equivalents
LIABILITIES AND EQUITY        
Total liabilities (2,528,666) (2,389,143)    
Stockholders' Equity:        
Total Stockholders' Equity (2,131,970)      
Noncontrolling Interest      
Total Equity (2,131,970) (1,954,418)    
Total Liabilities and Equity (4,660,636) (4,343,561)    
Homebuilding [Member]        
ASSETS        
Cash and equivalents 83,310 191,086    
Restricted cash 29,620 28,321    
Intercompany receivables    
Inventories:        
Owned 6,946,766 6,438,792    
Not owned 91,944 66,267    
Investments in unconsolidated joint ventures 130,692 127,127    
Investments in subsidiaries    
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively 307,251 330,378    
Goodwill 985,185 970,185    
Other assets 235,135 204,489    
Total assets 8,809,903 8,356,645    
Cash and equivalents 83,310 191,086    
Restricted cash 29,620 28,321    
LIABILITIES AND EQUITY        
Accounts payable 177,752 211,780    
Accrued liabilities 562,424 599,905    
Revolving credit facility 295,600    
Secured project debt and other notes payable 43,150 27,579    
Senior notes payable 3,483,388 3,392,208    
Total liabilities 4,562,314 4,231,472    
Homebuilding [Member] | Reportable Legal Entities [Member] | Parent Company [Member]        
ASSETS        
Cash and equivalents 25,694 105,261    
Restricted cash    
Intercompany receivables 2,121,692 2,045,773    
Inventories:        
Owned 3,208,403 2,825,234    
Not owned 44,285 30,953    
Investments in unconsolidated joint ventures 5,895 4,469    
Investments in subsidiaries 2,131,970 1,954,418    
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively 313,894 337,021    
Goodwill 970,185 970,185    
Other assets 172,296 165,214    
Total assets 8,994,314 8,438,528    
Cash and equivalents 25,694 105,261    
Restricted cash    
LIABILITIES AND EQUITY        
Accounts payable 95,533 92,611    
Accrued liabilities 365,920 387,098    
Revolving credit facility 295,600      
Secured project debt and other notes payable 424,662 359,025    
Senior notes payable 3,483,388 3,392,208    
Total liabilities 4,665,103 4,230,942    
Homebuilding [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]        
ASSETS        
Cash and equivalents 31,465 38,211    
Restricted cash    
Intercompany receivables    
Inventories:        
Owned 2,279,408 2,277,840    
Not owned 37,100 32,596    
Investments in unconsolidated joint ventures 3,750 4,923    
Investments in subsidiaries    
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively    
Goodwill    
Other assets 43,380 36,725    
Total assets 2,395,103 2,390,295    
Cash and equivalents 31,465 38,211    
Restricted cash    
LIABILITIES AND EQUITY        
Accounts payable 58,196 78,729    
Accrued liabilities 1,260,516 1,302,228    
Revolving credit facility      
Secured project debt and other notes payable    
Senior notes payable    
Total liabilities 1,318,712 1,380,957    
Homebuilding [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]        
ASSETS        
Cash and equivalents 26,151 47,614    
Restricted cash 29,620 28,321    
Intercompany receivables 398,530 334,926    
Inventories:        
Owned 1,458,955 1,335,718    
Not owned 10,559 2,718    
Investments in unconsolidated joint ventures 121,047 117,735    
Investments in subsidiaries    
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively    
Goodwill 15,000    
Other assets 19,459 2,550    
Total assets 2,079,321 1,869,582    
Cash and equivalents 26,151 47,614    
Restricted cash 29,620 28,321    
LIABILITIES AND EQUITY        
Accounts payable 24,023 40,440    
Accrued liabilities 1,066,124 964,796    
Revolving credit facility      
Secured project debt and other notes payable 17,018 3,480    
Senior notes payable    
Total liabilities 1,107,165 1,008,716    
Homebuilding [Member] | Consolidation, Eliminations [Member]        
ASSETS        
Cash and equivalents    
Restricted cash    
Intercompany receivables (2,520,222) (2,380,699)    
Inventories:        
Owned    
Not owned    
Investments in unconsolidated joint ventures    
Investments in subsidiaries (2,131,970) (1,954,418)    
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively (6,643) (6,643)    
Goodwill    
Other assets    
Total assets (4,658,835) (4,341,760)    
Cash and equivalents    
Restricted cash    
LIABILITIES AND EQUITY        
Accounts payable    
Accrued liabilities (2,130,136) (2,054,217)    
Revolving credit facility      
Secured project debt and other notes payable (398,530) (334,926)    
Senior notes payable    
Total liabilities (2,528,666) (2,389,143)    
Financial Services [Member]        
ASSETS        
Cash and equivalents 46,357 17,041    
Restricted cash 21,205 21,710    
Inventories:        
Other assets 15,991 26,666    
Total assets 269,131 352,399    
Cash and equivalents 46,357 17,041    
Restricted cash 21,205 21,710    
Mortgage loans held for sale, net 160,068 262,058    
Mortgage loans held for investment, net 25,510 24,924    
LIABILITIES AND EQUITY        
Total liabilities 173,617 269,986    
Accounts payable and other liabilities 20,831 22,559    
Mortgage credit facility 152,786 247,427    
Financial Services [Member] | Reportable Legal Entities [Member] | Parent Company [Member]        
ASSETS        
Cash and equivalents    
Restricted cash    
Inventories:        
Other assets    
Total assets    
Cash and equivalents    
Restricted cash    
Mortgage loans held for sale, net    
Mortgage loans held for investment, net    
LIABILITIES AND EQUITY        
Total liabilities    
Accounts payable and other liabilities    
Mortgage credit facility    
Financial Services [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]        
ASSETS        
Cash and equivalents    
Restricted cash    
Inventories:        
Other assets    
Total assets    
Cash and equivalents    
Restricted cash    
Mortgage loans held for sale, net    
Mortgage loans held for investment, net    
LIABILITIES AND EQUITY        
Total liabilities    
Accounts payable and other liabilities    
Mortgage credit facility    
Financial Services [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]        
ASSETS        
Cash and equivalents 46,357 17,041    
Restricted cash 21,205 21,710    
Inventories:        
Other assets 17,792 28,467    
Total assets 270,932 354,200    
Cash and equivalents 46,357 17,041    
Restricted cash 21,205 21,710    
Mortgage loans held for sale, net 160,068 262,058    
Mortgage loans held for investment, net 25,510 24,924    
LIABILITIES AND EQUITY        
Total liabilities 173,617 269,986    
Accounts payable and other liabilities 20,831 22,559    
Mortgage credit facility 152,786 247,427    
Financial Services [Member] | Consolidation, Eliminations [Member]        
ASSETS        
Cash and equivalents    
Restricted cash    
Inventories:        
Other assets (1,801) (1,801)    
Total assets (1,801) (1,801)    
Cash and equivalents    
Restricted cash    
Mortgage loans held for sale, net    
Mortgage loans held for investment, net    
LIABILITIES AND EQUITY        
Total liabilities    
Accounts payable and other liabilities    
Mortgage credit facility    
XML 78 R68.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 21 - Supplemental Guarantor Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($)
 1 Months Ended 9 Months Ended
Apr. 30, 2017
Sep. 30, 2017
Sep. 30, 2016
Net cash provided by (used in) operating activities   $ (123,475,000) $ 167,662,000
Investments in unconsolidated homebuilding joint ventures   (33,212,000) (27,000,000)
Distributions of capital from unconsolidated homebuilding joint ventures   12,770,000 23,727,000
Net cash paid for acquisitions   (44,477,000)
Loan to parent and subsidiaries  
Other investing activities   (11,113,000) (5,389,000)
Net cash provided by (used in) investing activities   (76,032,000) (8,662,000)
Change in restricted cash   (794,000) 7,309,000
Borrowings from revolving credit facility   685,550,000 1,008,000,000
Principal payments on revolving credit facility   (389,950,000) (862,000,000)
Principal payments on secured project debt and other notes payable   (909,000) (10,389,000)
Principal payment on senior notes payable   (483,000,000) (280,000,000)
Proceeds from the issuance of senior notes payable $ 225,000,000 579,125,000 300,000,000
Payment of debt issuance costs   (5,019,000) (2,657,000)
Loan from subsidiary  
Net proceeds from (payments on) mortgage credit facility   (94,641,000) (141,524,000)
(Contributions to) distributions from Corporate and subsidiaries  
Repurchases of common stock   (150,014,000) (137,464,000)
Common stock dividend payments   (13,427,000) (14,264,000)
Issuance of common stock under employee stock plans, net of tax withholdings   (5,807,000) 1,868,000
Other financing activities   (67,000) (199,000)
Intercompany advances, net  
Net cash provided by (used in) financing activities   121,047,000 (131,320,000)
Net increase (decrease) in cash and equivalents   (78,460,000) 27,680,000
Cash and equivalents at beginning of period   208,127,000 186,594,000
Cash and equivalents at end of period   129,667,000 214,274,000
Reportable Legal Entities [Member] | Parent Company [Member]      
Net cash provided by (used in) operating activities   (287,435,000) (49,169,000)
Investments in unconsolidated homebuilding joint ventures   (178,000) (235,000)
Distributions of capital from unconsolidated homebuilding joint ventures   500,000 1,107,000
Net cash paid for acquisitions    
Loan to parent and subsidiaries  
Other investing activities   (2,098,000) (325,000)
Net cash provided by (used in) investing activities   (1,776,000) 547,000
Change in restricted cash  
Borrowings from revolving credit facility   685,550,000 1,008,000,000
Principal payments on revolving credit facility   (389,950,000) (862,000,000)
Principal payments on secured project debt and other notes payable   (9,985,000)
Principal payment on senior notes payable   (483,000,000) (280,000,000)
Proceeds from the issuance of senior notes payable   579,125,000 300,000,000
Payment of debt issuance costs   (5,019,000) (2,657,000)
Loan from subsidiary   65,054,000 88,800,000
Net proceeds from (payments on) mortgage credit facility  
(Contributions to) distributions from Corporate and subsidiaries   1,210,000 18,350,000
Repurchases of common stock   (150,014,000) (137,464,000)
Common stock dividend payments   (13,427,000) (14,264,000)
Issuance of common stock under employee stock plans, net of tax withholdings   (5,807,000) 1,868,000
Other financing activities  
Intercompany advances, net   (74,078,000) 49,757,000
Net cash provided by (used in) financing activities   209,644,000 160,405,000
Net increase (decrease) in cash and equivalents   (79,567,000) 111,783,000
Cash and equivalents at beginning of period   105,261,000 6,387,000
Cash and equivalents at end of period   25,694,000 118,170,000
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]      
Net cash provided by (used in) operating activities   16,744,000 16,087,000
Investments in unconsolidated homebuilding joint ventures   (79,000) (192,000)
Distributions of capital from unconsolidated homebuilding joint ventures   1,867,000 333,000
Net cash paid for acquisitions    
Loan to parent and subsidiaries  
Other investing activities   (1,519,000) (1,958,000)
Net cash provided by (used in) investing activities   269,000 (1,817,000)
Change in restricted cash  
Borrowings from revolving credit facility  
Principal payments on revolving credit facility  
Principal payments on secured project debt and other notes payable  
Principal payment on senior notes payable  
Proceeds from the issuance of senior notes payable  
Payment of debt issuance costs  
Loan from subsidiary  
Net proceeds from (payments on) mortgage credit facility  
(Contributions to) distributions from Corporate and subsidiaries  
Repurchases of common stock  
Common stock dividend payments  
Issuance of common stock under employee stock plans, net of tax withholdings  
Other financing activities   (199,000)
Intercompany advances, net   (23,759,000) (95,992,000)
Net cash provided by (used in) financing activities   (23,759,000) (96,191,000)
Net increase (decrease) in cash and equivalents   (6,746,000) (81,921,000)
Cash and equivalents at beginning of period   38,211,000 112,852,000
Cash and equivalents at end of period   31,465,000 30,931,000
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]      
Net cash provided by (used in) operating activities   147,216,000 200,744,000
Investments in unconsolidated homebuilding joint ventures   (32,955,000) (26,573,000)
Distributions of capital from unconsolidated homebuilding joint ventures   10,403,000 22,287,000
Net cash paid for acquisitions   (44,477,000)  
Loan to parent and subsidiaries   (65,054,000) (88,800,000)
Other investing activities   (7,496,000) (3,106,000)
Net cash provided by (used in) investing activities   (139,579,000) (96,192,000)
Change in restricted cash   (794,000) 7,309,000
Borrowings from revolving credit facility  
Principal payments on revolving credit facility  
Principal payments on secured project debt and other notes payable   (909,000) (404,000)
Principal payment on senior notes payable  
Proceeds from the issuance of senior notes payable  
Payment of debt issuance costs  
Loan from subsidiary  
Net proceeds from (payments on) mortgage credit facility   (94,641,000) (141,524,000)
(Contributions to) distributions from Corporate and subsidiaries   (1,210,000) (18,350,000)
Repurchases of common stock  
Common stock dividend payments  
Issuance of common stock under employee stock plans, net of tax withholdings  
Other financing activities   (67,000)
Intercompany advances, net   97,837,000 46,235,000
Net cash provided by (used in) financing activities   216,000 (106,734,000)
Net increase (decrease) in cash and equivalents   7,853,000 (2,182,000)
Cash and equivalents at beginning of period   64,655,000 67,355,000
Cash and equivalents at end of period   72,508,000 65,173,000
Consolidation, Eliminations [Member]      
Net cash provided by (used in) operating activities  
Investments in unconsolidated homebuilding joint ventures  
Distributions of capital from unconsolidated homebuilding joint ventures  
Net cash paid for acquisitions    
Loan to parent and subsidiaries   65,054,000 88,800,000
Other investing activities  
Net cash provided by (used in) investing activities   65,054,000 88,800,000
Change in restricted cash  
Borrowings from revolving credit facility  
Principal payments on revolving credit facility  
Principal payments on secured project debt and other notes payable  
Principal payment on senior notes payable  
Proceeds from the issuance of senior notes payable  
Payment of debt issuance costs  
Loan from subsidiary   (65,054,000) (88,800,000)
Net proceeds from (payments on) mortgage credit facility  
(Contributions to) distributions from Corporate and subsidiaries  
Repurchases of common stock  
Common stock dividend payments  
Issuance of common stock under employee stock plans, net of tax withholdings  
Other financing activities  
Intercompany advances, net  
Net cash provided by (used in) financing activities   (65,054,000) (88,800,000)
Net increase (decrease) in cash and equivalents  
Cash and equivalents at beginning of period  
Cash and equivalents at end of period  
XML 79 R9999.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Cash and equivalents and restricted cash at end of period us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 180,492,000
Cash and equivalents and restricted cash at end of period us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents 265,869,000
Financial Services [Member]  
Cash and equivalents and restricted cash at end of period us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents 21,205,000
Cash and equivalents and restricted cash at end of period us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents 21,799,000
Homebuilding [Member]  
Cash and equivalents and restricted cash at end of period us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents 29,620,000
Cash and equivalents and restricted cash at end of period us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 29,796,000
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