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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 156,979 $ 132,453
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,934 10,741
Excess income tax benefit from equity-based compensation (8,678) (9,899)
Equity-based compensation expense 21,378 26,303
Contract land deposit recoveries, net (1,436) (5,747)
Gain on sale of loans, net (36,687) (27,331)
Mortgage loans closed (1,558,775) (1,311,016)
Mortgage loans sold and principal payments on mortgage loans held for sale 1,644,385 1,273,413
Distribution of earnings from unconsolidated joint ventures 6,135 9,939
Net change in assets and liabilities:    
Increase in inventory (240,708) (213,837)
Increase in contract land deposits (30,340) (1,425)
Increase in receivables (7,406) (6,948)
Increase in accounts payable and accrued expenses 35,357 66,521
Increase in customer deposits 30,781 31,628
Other, net (18,025) (15,204)
Net cash provided by (used in) operating activities 3,894 (40,409)
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (321) (1,245)
Distribution of capital from unconsolidated joint ventures 7,003 10,561
Purchase of property, plant and equipment (11,773) (8,585)
Proceeds from the sale of property, plant and equipment 446 338
Net cash (used in) provided by investing activities (4,645) 1,069
Cash flows from financing activities:    
Purchase of treasury stock (96,508) (69,285)
Repayments under non-recourse debt related to consolidated variable interest entity and note payable   (64)
Distributions to partner in consolidated variable interest entity (150) (300)
Excess income tax benefit from equity-based compensation 8,678 9,899
Proceeds from the exercise of stock options 27,909 51,256
Net cash used in financing activities (60,071) (8,494)
Net decrease in cash and cash equivalents (60,822) (47,834)
Cash and cash equivalents, beginning of the period 425,316 545,419
Cash and cash equivalents, end of the period 364,494 497,585
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 9,566 12,221
Income taxes paid during the period, net of refunds $ 90,078 $ 52,781