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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 168,666 $ 119,961
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,375 5,822
Excess income tax benefit from equity-based compensation (23,811) (5,687)
Equity-based compensation expense 30,385 50,136
Contract land deposit recoveries (4,590) (243)
Gain on sale of loans (43,951) (33,351)
Mortgage loans closed (1,673,257) (1,423,299)
Proceeds from sales of mortgage loans 1,751,736 1,579,863
Principal payments on mortgage loans held for sale 1,288 1,894
Distribution of earnings from unconsolidated joint ventures 4,323 3,080
Net change in assets and liabilities:    
Increase in inventory (231,676) (162,507)
Increase in contract land deposits (22,399) (41,231)
Increase in receivables (3,909) (3,265)
Increase in accounts payable, accrued expenses and customer deposits 136,935 98,598
Other, net (10,950) (11,321)
Net cash provided by operating activities 88,165 178,450
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (11,000) (1,000)
Distribution of capital from unconsolidated joint ventures 6,135 5,746
Purchase of property, plant and equipment (14,069) (10,367)
Proceeds from the sale of property, plant and equipment 381 353
Net cash used in investing activities (18,553) (5,268)
Cash flows from financing activities:    
Purchases of treasury stock (435,809) (220,128)
Net repayments under note payable and credit lines (473) (660)
Repayments under non-recourse debt related to consolidated variable interest entity (4,015) (5,646)
Borrowings under non-recourse debt related to consolidated variable interest entity   1,528
Excess income tax benefit from equity-based compensation 23,811 5,687
Proceeds from issuance of Senior Notes due 2022   598,962
Debt issuance costs for Senior Notes due 2022   (4,024)
Proceeds from the exercise of stock options 7,564 48,853
Net cash (used in) provided by financing activities (408,922) 424,572
Net (decrease) increase in cash and cash equivalents (339,310) 597,754
Cash and cash equivalents, beginning of the period 1,153,507 480,794
Cash and cash equivalents, end of the period 814,197 1,078,548
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 24,673 705
Income taxes paid during the period, net of refunds $ 55,209 $ 36,054