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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 248,923 $ 182,179
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 16,182 12,583
Excess income tax benefit from equity-based compensation (14,465) (6,786)
Equity-based compensation expense 39,874 44,874
Contract land deposit recoveries (9,925) (4,108)
Gain on sale of loans (48,243) (32,621)
Mortgage loans closed (2,163,472) (1,714,682)
Mortgage loans sold and principal payments on mortgage loans held for sale 2,153,721 1,761,410
Distribution of earnings from unconsolidated joint ventures 13,069 4,790
Net change in assets and liabilities:    
Increase in inventory (289,754) (272,457)
Increase in contract land deposits (13,987) (42,586)
Decrease (increase) in receivables 12 (1,755)
Increase in accounts payable and accrued expenses 78,935 22,224
Increase in customer deposits 25,317 18,401
Other, net (20,605) (13,327)
Net cash provided by (used in) operating activities 15,582 (41,861)
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (1,552)  
Distribution of capital from unconsolidated joint ventures 13,931 8,710
Purchase of property, plant and equipment (13,468) (27,324)
Proceeds from the sale of property, plant and equipment 476 626
Net cash used in investing activities (613) (17,988)
Cash flows from financing activities:    
Purchase of treasury stock (263,446) (409,436)
Repayments under non-recourse debt related to consolidated variable interest entity and note payable (64) (2,819)
Distributions to partner in consolidated variable interest entity (300) (281)
Excess income tax benefit from equity-based compensation 14,465 6,786
Proceeds from the exercise of stock options 76,419 65,639
Net cash used in financing activities (172,926) (340,111)
Net decrease in cash and cash equivalents (157,957) (399,960)
Cash and cash equivalents, beginning of the period 545,419 866,253
Cash and cash equivalents, end of the period 387,462 466,293
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 24,313 24,252
Income taxes paid during the period, net of refunds $ 123,841 $ 121,772