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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 1,181,536 $ 1,270,807
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,585 13,237
Equity-based compensation expense 73,488 58,441
Contract land deposit (recoveries) impairments, net (6,217) 2,482
Gain on sale of loans, net (127,898) (120,035)
Mortgage loans closed (4,243,040) (4,791,742)
Mortgage loans sold and principal payments on mortgage loans held for sale 4,347,960 4,925,431
Net change in assets and liabilities:    
Increase in inventory (215,498) (223,083)
Increase in contract land deposits (27,873) (26,915)
Increase in receivables (17,628) (69,132)
(Decrease) increase in accounts payable and accrued expenses (5,669) 42,087
Increase (decrease) in customer deposits 41,507 (41,303)
Other, net (12,966) 5,131
Net Cash Provided by (Used in) Operating Activities 1,002,287 1,052,906
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (1,224) (9,222)
Distribution of capital from unconsolidated joint ventures 180 0
Purchase of property, plant and equipment (18,531) (11,972)
Proceeds from the sale of property, plant and equipment 2,221 553
Net Cash Provided by (Used in) Investing Activities (17,354) (20,641)
Cash flows from financing activities:    
Purchase of treasury stock (795,387) (1,384,193)
Repayments of Senior Debt 0 (600,000)
Principal payments on finance lease liabilities (1,233) (1,107)
Proceeds from the exercise of stock options 207,163 137,406
Net Cash Provided by (Used in) Financing Activities (589,457) (1,847,894)
Net increase (decrease) in cash, restricted cash, and cash equivalents 395,476 (815,629)
Cash, restricted cash, and cash equivalents, beginning of the period 2,574,518 2,636,984
Cash, restricted cash, and cash equivalents, end of the period 2,969,994 1,821,355
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 15,285 33,475
Income taxes paid during the period, net of refunds 312,631 403,875
Distribution of earnings from unconsolidated joint ventures $ 2,000 $ 7,500