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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 1,236,719 $ 901,248 $ 878,539
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 19,463 21,992 20,818
Equity-based compensation expense 58,234 50,794 78,532
Contract land deposit (recoveries) impairments and other impairments, net (20,827) 28,079 (680)
Gain on sale of loans, net (205,582) (168,720) (128,642)
Deferred tax (benefit) (234) (17,565) (4,070)
Mortgage loans closed (6,079,454) (5,323,932) (5,169,422)
Mortgage loans sold and principal payments on mortgage loans held for sale 6,424,204 5,536,568 5,260,600
Distribution of earnings from unconsolidated joint ventures 9,500 1,432 3,476
Net change in assets and liabilities:      
Increase in inventory (238,284) (362,384) (94,178)
(Increase) decrease in contract land deposits (87,374) 519 (16,994)
Decrease (increase) in receivables 1,956 (1,675) 2,754
(Decrease) increase in accounts payable and accrued expenses (19,954) 168,667 33,926
Increase (Decrease) in Contract with Customer, Liability 176,705 108,872 (6,360)
Other, net (32,679) (18,626) 8,236
Operating activities 1,242,393 925,269 866,535
Net cash provided by operating activities 1,242,393 925,269 866,535
Cash flows from investing activities:      
Investments in and advances to unconsolidated joint ventures (1,282) (435) (702)
Distribution of capital from unconsolidated joint ventures 0 11,625 8,247
Purchase of property, plant and equipment (17,875) (16,119) (22,699)
Proceeds from the sale of property, plant and equipment 978 996 1,870
Net Cash Provided by (Used in) Investing Activities (18,179) (3,933) (13,284)
Cash flows from financing activities:      
Purchase of treasury stock (1,538,019) (371,078) (698,417)
Proceeds from Issuance of Senior Long-term Debt 0 923,905 0
Payments of Debt Issuance Costs 0 (5,062) 0
Finance Lease, Principal Payments (1,363) (989) (306)
Proceeds from the exercise of stock options 142,370 180,866 274,028
Financing activities (1,397,012) 727,642 (424,695)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect (172,798) 1,648,978 428,556
Cash, restricted cash, and cash equivalents, beginning of the year 2,809,782 1,160,804 732,248
Cash, restricted cash, and cash equivalents, end of the year 2,636,984 2,809,782 1,160,804
Supplemental disclosures of cash flow information:      
Interest paid during the year, net of interest capitalized 53,680 36,805 24,453
Income taxes paid during the year, net of refunds $ 389,383 $ 163,076 $ 153,915