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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 1,591,611 $ 1,725,575 $ 1,236,719
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 16,916 17,396 19,463
Equity-based compensation expense 99,507 82,537 58,234
Contract land deposit (recoveries) impairments and other impairments, net (2,908) 28,466 (20,827)
Gain on sale of loans, net (163,322) (152,668) (205,582)
Deferred tax benefit (3,743) (11,101) (234)
Mortgage loans closed (5,740,199) (6,314,514) (6,079,454)
Mortgage loans sold and principal payments on mortgage loans held for sale 5,949,657 6,471,270 6,424,204
Distribution of earnings from unconsolidated joint ventures 2,000 9,000 9,500
Net change in assets and liabilities:      
(Increase) decrease in inventory (161,875) 159,091 (238,284)
Increase in contract land deposits (77,563) (26,407) (87,374)
(Increase) decrease in receivables (59,653) (27,384) 1,956
Increase (decrease) in accounts payable and accrued expenses 49,105 (13,777) (19,954)
Increase (Decrease) in Contract with Customer, Liability 20,637 (103,659) 176,705
Other, net (22,177) 26,276 (32,679)
Operating activities 1,497,993 1,870,101 1,242,393
Net cash provided by operating activities 1,497,993 1,870,101 1,242,393
Cash flows from investing activities:      
Investments in and advances to unconsolidated joint ventures (1,776) (9,735) (1,282)
Distribution of capital from unconsolidated joint ventures 180 0 0
Purchase of property, plant and equipment (24,877) (18,428) (17,875)
Proceeds from the sale of property, plant and equipment 2,373 732 978
Net Cash Provided by (Used in) Investing Activities (24,100) (27,431) (18,179)
Cash flows from financing activities:      
Purchase of treasury stock (1,081,815) (1,500,358) (1,538,019)
Redemption of senior notes 0 (600,000) 0
Principal payments on finance lease liabilities (1,661) (1,495) (1,363)
Proceeds from the exercise of stock options 250,509 196,717 142,370
Net cash used in financing activities (832,967) (1,905,136) (1,397,012)
Net increase (decrease) in cash, restricted cash, and cash equivalents 640,926 (62,466) (172,798)
Cash, restricted cash, and cash equivalents, beginning of the year 2,574,518 2,636,984 2,809,782
Cash, restricted cash, and cash equivalents, end of the year 3,215,444 2,574,518 2,636,984
Supplemental disclosures of cash flow information:      
Interest paid during the year, net of interest capitalized 29,202 47,502 53,680
Income taxes paid during the year, net of refunds $ 407,185 $ 529,820 $ 389,383