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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 250,800 $ 156,979
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,494 10,934
Equity-based compensation expense 21,467 21,378
Contract land deposit impairments (recoveries), net 3,567 (1,436)
Gain on sale of loans, net (47,474) (36,687)
Mortgage loans closed (1,772,432) (1,558,775)
Mortgage loans sold and principal payments on mortgage loans held for sale 1,936,118 1,644,385
Distribution of earnings from unconsolidated joint ventures 3,611 6,135
Net change in assets and liabilities:    
Increase in inventory (272,851) (240,708)
Decrease (increase) in contract land deposits 17,872 (30,340)
Increase in receivables (2,888) (7,406)
(Decrease) increase in accounts payable and accrued expenses (3,013) 35,357
Increase in customer deposits 43,448 30,781
Other, net (9,988) (18,025)
Net cash provided by operating activities 179,731 12,572
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (455) (321)
Distribution of capital from unconsolidated joint ventures 4,270 7,003
Purchase of property, plant and equipment (9,784) (11,773)
Proceeds from the sale of property, plant and equipment 472 446
Net cash used in investing activities (5,497) (4,645)
Cash flows from financing activities:    
Purchase of treasury stock (159,506) (96,508)
Distributions to partner in consolidated variable interest entity   (150)
Proceeds from the exercise of stock options 117,966 27,909
Net cash used in financing activities (41,540) (68,749)
Net increase (decrease) in cash and cash equivalents 132,694 (60,822)
Cash and cash equivalents, beginning of the period 396,619 425,316
Cash and cash equivalents, end of the period 529,313 364,494
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 11,293 9,566
Income taxes paid during the period, net of refunds $ 99,370 $ 90,078