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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 1,270,807 $ 902,138
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,237 14,720
Equity-based compensation expense 58,441 42,859
Contract land deposit impairments (recoveries), net 2,482 (17,474)
Gain on sale of loans, net (120,035) (162,729)
Mortgage loans closed (4,791,742) (4,599,324)
Mortgage loans sold and principal payments on mortgage loans held for sale 4,925,431 4,918,464
Net change in assets and liabilities:    
Increase in inventory (223,083) (154,443)
Increase in contract land deposits (26,915) (48,153)
Increase in receivables (69,132) (2,349)
Increase (decrease) in accounts payable and accrued expenses 42,087 (44,970)
(Decrease) increase in customer deposits (41,303) 140,836
Other, net 5,131 (14,783)
Net Cash Provided by (Used in) Operating Activities 1,052,906 982,292
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (9,222) (861)
Purchase of property, plant and equipment (11,972) (11,946)
Proceeds from the sale of property, plant and equipment 553 821
Net Cash Provided by (Used in) Investing Activities (20,641) (11,986)
Cash flows from financing activities:    
Purchase of treasury stock (1,384,193) (1,152,855)
Repayments of Senior Debt (600,000) 0
Principal payments on finance lease liabilities (1,107) (1,008)
Proceeds from the exercise of stock options 137,406 121,835
Net Cash Provided by (Used in) Financing Activities (1,847,894) (1,032,028)
Net decrease in cash, restricted cash, and cash equivalents (815,629) (61,722)
Cash, restricted cash, and cash equivalents, beginning of the period 2,636,984 2,809,782
Cash, restricted cash, and cash equivalents, end of the period 1,821,355 2,748,060
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 33,475 39,473
Income taxes paid during the period, net of refunds 403,875 289,850
Distribution of earnings from unconsolidated joint ventures $ 7,500 $ 7,500