Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 188,406	$ 166,049
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,062	5,036
Equity-based compensation expense	19,333	9,509
Contract land deposit and other impairments, net	542	(215)
Gain on sale of loans, net	(34,957)	(31,320)
Mortgage loans closed	(1,141,720)	(1,009,675)
Mortgage loans sold and principal payments on mortgage loans held for sale	1,204,898	1,045,538
Distribution of earnings from unconsolidated joint ventures	608	1,383
Net change in assets and liabilities:
Increase in inventory	(28,059)	(98,193)
(Increase) decrease in contract land deposits	6,303	8,753
(Increase) decrease in receivables	(12,005)	(4,585)
Increase in accounts payable and accrued expenses	21,152	(25,035)
Increase in customer deposits	4,388	17,453
Other, net	(6,096)	(6,670)
Net cash provided by operating activities	227,855	78,028
Cash flows from investing activities:
Investments in and advances to unconsolidated joint ventures	(335)	0
Distribution of capital from unconsolidated joint ventures	3,257	2,482
Purchase of property, plant and equipment	(5,285)	(3,113)
Proceeds from the sale of property, plant and equipment	484	195
Net cash used in investing activities	(1,879)	(436)
Cash flows from financing activities:
Purchase of treasury stock	(216,499)	(357,242)
Proceeds from the exercise of stock options	98,974	40,804
Net cash used in financing activities	(117,525)	(316,438)
Net (decrease) increase in cash, restricted cash, and cash equivalents	108,451	(238,846)
Cash, restricted cash, and cash equivalents, beginning of the period	732,248	689,557
Cash, restricted cash, and cash equivalents, end of the period	840,699	450,711
Supplemental disclosures of cash flow information:
Interest paid during the period, net of interest capitalized	11,910	11,977
Income taxes paid during the period, net of refunds	$ 2,316	$ 3,333