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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 755,868 $ 1,291,450 $ 1,065,948
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 501,728 439,224 451,988
Amortization and write-off of financing costs on extinguished debt 82,705 8,662 35,175
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets (297,980) (246,690) (229,376)
Asset impairments 88,676 89,787 0
Gain associated with remeasuring our investment in a joint venture entity to fair value at the date we acquired the remaining interest 0 0 (100,420)
Net realized and unrealized (gains) losses, primarily from investments (17,394) (28,907) 7,400
Provision for doubtful accounts 44,366 20,373 19,760
Net compensation expense for equity awards 60,391 127,738 128,171
Equity income from unconsolidated subsidiaries (126,161) (160,925) (324,664)
Distribution of earnings from unconsolidated subsidiaries 155,975 199,011 336,925
Proceeds from sale of mortgage loans 20,937,521 19,805,060 20,230,676
Origination of mortgage loans (21,268,114) (19,389,979) (20,591,602)
Increase (decrease) in warehouse lines of credit 406,789 (351,586) 417,995
Tenant concessions received 48,030 21,249 38,400
Purchase of equity securities (11,113) (83,001) (99,789)
Proceeds from sale of equity securities 13,741 46,949 75,120
(Increase) decrease in real estate under development (105,619) 31,420 (4,586)
Decrease (increase) in receivables, prepaid expenses and other assets (including contract and lease assets) 371,009 (821,134) (773,361)
Increase in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities) 105,491 306,677 273,782
(Decrease) increase in compensation and employee benefits payable and accrued bonus and profit sharing (100,142) 244,895 270,371
Decrease (increase) in net income taxes receivable/payable 173,648 (274,436) (47,074)
Other operating activities, net 11,364 (52,457) (49,590)
Net cash provided by operating activities 1,830,779 1,223,380 1,131,249
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (266,575) (293,514) (227,803)
Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired (27,848) (355,926) (322,573)
Contributions to unconsolidated subsidiaries (146,409) (105,947) (62,802)
Distributions from unconsolidated subsidiaries 88,731 33,289 61,709
Other investing activities, net 10,516 1,074 (9,215)
Net cash used in investing activities (341,585) (721,024) (560,684)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from senior term loans 0 300,000 1,002,745
Repayment of senior term loans 0 (300,000) (450,000)
Proceeds from revolving credit facility 835,671 3,609,000 3,258,000
Repayment of revolving credit facility (835,671) (3,609,000) (3,258,000)
Establishment of trust account for special purpose acquisition company (402,500) 0 0
Sale of non-controlling interest - special purpose acquisition company 393,661 0 0
Proceeds from notes payable on real estate 90,552 6,694 7,599
Repayments of notes payable on real estate (24,704) 0 (19,058)
Repurchase of common stock (50,028) (145,137) (161,034)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date) (44,700) (42,147) (18,660)
Units repurchased for payment of taxes on equity awards (43,835) (18,426) (29,386)
Non-controlling interest contributions 2,173 46,612 25,355
Non-controlling interest distributions (4,330) (3,957) (13,413)
Other financing activities, net (41,893) (4,901) (4,453)
Net cash used in financing activities (625,256) (271,949) (506,600)
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash 81,564 (606) (24,840)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 945,502 229,801 39,125
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT BEGINNING OF YEAR 1,093,745 863,944 824,819
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF YEAR 2,039,247 1,093,745 863,944
Cash paid during the year for:      
Interest 67,463 86,666 104,165
Income tax payments, net 51,681 365,065 375,849
Telford Homes      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of debt assumed in acquisition 0 (110,687) 0
FacilitySource      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of debt assumed in acquisition 0 0 (26,295)
5.25% Senior Notes      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of senior notes (including premium) (499,652) 0 0
5.00% Senior Notes      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of senior notes (including premium) $ 0 $ 0 $ (820,000)