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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income before allocation to non-controlling interests $ 769,741,000 $ 1,056,247,000 $ 682,367,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Net (income)/loss from unconsolidated entities (8,757,000) 14,184,000 (11,130,000)
Stock compensation expense 26,095,000 26,901,000 19,943,000
Loss/(gain) on extinguishment of debt, net 295,000 (13,876,000) 0
Gain on land transfers 0 (14,508,000) 0
Distributions of earnings from unconsolidated entities 9,230,000 5,270,000 10,740,000
Depreciation and amortization 33,406,000 33,839,000 39,980,000
Lease expense 24,808,000 27,420,000 17,885,000
Debt issuance costs amortization 3,315,000 2,260,000 539,000
Estimated development liability change in estimate (14,829,000) 0 0
Deferred income taxes (169,000) 83,584,000 86,838,000
Inventory impairment charges 11,791,000 24,870,000 0
Change in Urban Form assets due to sale 0 42,046,000 20,440,000
Land held for sale impairments 0 0 4,663,000
Changes in operating assets and liabilities:      
Real estate inventory and land deposits (78,575,000) (50,792,000) (343,127,000)
Mortgage loans held for sale, prepaid expenses and other assets 31,012,000 5,789,000 (511,220,000)
Customer deposits (86,005,000) (73,613,000) 174,448,000
Accounts payable, accrued expenses and other liabilities 84,811,000 (61,849,000) 197,121,000
Income taxes payable 0 0 (12,841,000)
Net cash provided by operating activities 806,169,000 1,107,772,000 376,646,000 Close
Cash Flows from Investing Activities:      
Purchase of property and equipment (33,426,000) (30,581,000) (21,199,000)
Distributions of capital from unconsolidated entities 824,000 125,275,000 31,915,000
Investments of capital into unconsolidated entities (64,589,000) (109,574,000) (74,976,000)
Payments to acquire investments and securities 0 0 (10,000,000)
Net cash used in investing activities (97,191,000) (14,880,000) (74,260,000) Close
Cash Flows from Financing Activities      
Increase in loans payable and other borrowings 7,103,000 38,202,000 130,493,000
Repayments of loans payable and other borrowings (20,747,000) (71,172,000) (124,786,000)
Borrowings on revolving credit facility 0 381,019,000 131,529,000
Repayments on revolving credit facilities 0 (412,548,000) (100,000,000)
Borrowings on mortgage warehouse facilities 3,007,682,000 2,662,241,000 3,327,954,000
Repayments on mortgage warehouse facilities (3,160,290,000) (2,770,056,000) (3,041,356,000)
Repayments on senior notes (350,000,000) (622,780,000) 0
Proceeds from stock option exercises and issuance of restricted stock, net 17,013,000 1,377,000 17,911,000
Payment of principle portion of finance lease (1,316,000) (1,344,000) (1,345,000)
Repurchase of common stock, net (127,959,000) (376,275,000) (281,420,000)
Cash and distributions to non-controlling interests of consolidated joint ventures, net 0 (31,261,000) (59,135,000)
Net cash used in financing activities (628,514,000) (1,202,597,000) (155,000) Close
Net Increase/Decrease in Cash and Cash Equivalents and Restricted Cash 80,464,000 (109,705,000) 302,231,000 Close
Cash, Cash Equivalents, and Restricted Cash - Beginning of period 726,635,000 836,340,000 534,109,000
Cash, Cash Equivalents, and Restricted Cash - End of period 807,099,000 726,635,000 836,340,000
Supplemental Cash Flow Information      
Income tax payments (204,274,000) (270,034,000) (146,171,000)
Supplemental Non-Cash Investing and Financing Activities:      
Change in loans payable issued to sellers in connection with land purchase contracts 235,554,000 231,027,000 279,646,000
Change in inventory not owned 47,647,000 (31,343,000) (67,459,000)
Investments of land in unconsolidated joint ventures, net 0 146,649,000 0
Impairment in unconsolidated joint ventures 0 (14,714,000) 0
Net non-cash (distributions)/contributions (to)/from unconsolidated entities 0 0 (3,599,000)
Common stock surrendered in connection with warrant exercise 0 0 32,587,000
Common stock issued in connection with warrant exercise $ 0 $ 0 $ (32,584,000)