Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2011

Supplemental Guarantor Information [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2011

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated PulteGroup, Inc.
ASSETS
Cash and equivalents	$	113,028		$	687,574	$	341,911		$	—		$	1,142,513
Restricted cash		89,385			6,895		17,016			—			113,296
Unfunded settlements		—			23,924		(7,395	)		—			16,529
House and land inventory		—			4,885,536		4,132			—			4,889,668
Land held for sale		—			134,563		—			—			134,563
Land, not owned, under option agreements		—			25,422		—			—			25,422
Residential mortgage loans available-for-sale		—			—		173,956			—			173,956
Securities purchased under agreements to resell		50,675			—		(50,675	)		—			—
Investments in unconsolidated entities		1,526			33,028		2,630			—			37,184
Intangible assets, net		—			165,623		—			—			165,623
Other assets		18,899			388,770		42,853			—			450,522
Income taxes receivable		79,378			—		—			—			79,378
Deferred income tax assets		(29,521	)		27		29,494			—			—
Investments in subsidiaries and intercompany accounts, net		5,253,557			5,974,930		5,900,490			(17,128,977	)		—

	$	5,576,927		$	12,326,292	$	6,454,412		$	(17,128,977	)	$	7,228,654

LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	$	96,969		$	1,036,746	$	614,981		$	—		$	1,748,696
Income tax liabilities		221,128			—		—			—			221,128
Senior notes		3,335,363			—		—			—			3,335,363

Total liabilities		3,653,460			1,036,746		614,981			—			5,305,187
Total shareholders' equity		1,923,467			11,289,546		5,839,431			(17,128,977	)		1,923,467

	$	5,576,927		$	12,326,292	$	6,454,412		$	(17,128,977	)	$	7,228,654

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2010

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated PulteGroup, Inc.
ASSETS
Cash and equivalents	$	10,000		$	1,089,439	$	371,186		$	—		$	1,470,625
Restricted cash		—			3,927		20,674			—			24,601
Unfunded settlements		—			17,184		(4,419	)		—			12,765
House and land inventory		—			4,777,681		4,132			—			4,781,813
Land held for sale		—			71,055		—			—			71,055
Land, not owned, under option agreements		—			50,781		—			—			50,781
Residential mortgage loans available-for-sale		—			—		176,164			—			176,164
Securities purchased under agreements to resell		74,500			—		(74,500	)		—			—
Investments in unconsolidated entities		1,523			42,261		2,529			—			46,313
Goodwill		—			240,541		—			—			240,541
Intangible assets, net		—			175,448		—			—			175,448
Other assets		24,476			499,075		44,412			—			567,963
Income taxes receivable		81,307			—		—			—			81,307
Deferred income tax assets		(34,192	)		27		34,165			—			—
Investments in subsidiaries and intercompany accounts, net		5,749,695			5,783,384		6,265,591			(17,798,670	)		—

	$	5,907,309		$	12,750,803	$	6,839,934		$	(17,798,670	)	$	7,699,376

LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	$	86,066		$	1,166,805	$	625,262		$	—		$	1,878,133
Income tax liabilities		294,408			—		—			—			294,408
Senior notes		3,391,668			—		—			—			3,391,668

Total liabilities		3,772,142			1,166,805		625,262			—			5,564,209
Total shareholders' equity		2,135,167			11,583,998		6,214,672			(17,798,670	)		2,135,167

	$	5,907,309		$	12,750,803	$	6,839,934		$	(17,798,670	)	$	7,699,376

Statement Of Operations

CONSOLIDATING STATEMENT OF OPERATIONS

For the nine months ended September 30, 2011

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries		Consolidated PulteGroup, Inc.
Revenues
Homebuilding
Home sale revenues	$	—		$	2,783,602		$	—		$	—	$	2,783,602
Land sale revenues		—			19,023			—			—		19,023

		—			2,802,625			—			—		2,802,625
Financial Services		—			897			70,823			—		71,720

		—			2,803,522			70,823			—		2,874,345

Homebuilding Cost of Revenues
Home sale cost of revenues		—			2,422,525			—			—		2,422,525
Land sale cost of revenues		—			1,782			—			—		1,782

		—			2,424,307			—			—		2,424,307
Financial Services expenses		418			259			78,098			—		78,775
Selling, general, and administrative expenses		27,536			370,862			4,038			—		402,436
Other expense (income), net		3,537			273,450			(2,222	)		—		274,765
Interest income		(167	)		(3,277	)		(260	)		—		(3,704	)
Interest expense		990			—			—			—		990
Intercompany interest		32,051			(23,947	)		(8,104	)		—		—
Equity in (earnings) loss of unconsolidated entities		(4	)		(3,014	)		1,019			—		(1,999	)

Income (loss) before income taxes and equity in income (loss) of subsidiaries		(64,361	)		(235,118	)		(1,746	)		—		(301,225	)
Income tax expense (benefit)		(2,188	)		(76,810	)		1,982			—		(77,016	)

Income (loss) before equity in income (loss) of subsidiaries		(62,173	)		(158,308	)		(3,728	)		—		(224,209	)
Equity in income (loss) of subsidiaries		(162,036	)		(1,663	)		(134,112	)		297,811		—

Net income (loss)	$	(224,209	)	$	(159,971	)	$	(137,840	)	$	297,811	$	(224,209	)

CONSOLIDATING STATEMENT OF OPERATIONS

For the three months ended September 30, 2010

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries		Consolidated PulteGroup, Inc.
Revenues
Homebuilding
Home sale revenues	$	—		$	1,024,847		$	—		$	—	$	1,024,847
Land sale revenues		—			5,908			—			—		5,908

		—			1,030,755			—			—		1,030,755
Financial Services		—			610			26,399			—		27,009

		—			1,031,365			26,399			—		1,057,764

Homebuilding Cost of Revenues
Home sale cost of revenues		—			952,788			—			—		952,788
Land sale cost of revenues		—			4,849			—			—		4,849

		—			957,637			—			—		957,637
Financial Services expenses		193			221			23,036			—		23,450
Selling, general, and administrative expenses		17,321			228,512			179,810			—		425,643
Other expense (income), net		(256	)		674,102			(867	)		—		672,979
Interest income		—			(2,402	)		(199	)		—		(2,601	)
Interest expense		789			—			—			—		789
Intercompany interest		42,322			(42,366	)		44			—		—
Equity in (earnings) loss of unconsolidated entities		(2	)		2,492			1,214			—		3,704

Income (loss) before income taxes and equity in income (loss) of subsidiaries		(60,367	)		(786,831	)		(176,639	)		—		(1,023,837	)
Income tax expense (benefit)		61,119			(28,647	)		(61,193	)		—		(28,721	)

Income (loss) before equity in income (loss) of subsidiaries		(121,486	)		(758,184	)		(115,446	)		—		(995,116	)
Equity in income (loss) of subsidiaries		(873,630	)		1,320			(255,436	)		1,127,746		—

Net income (loss)	$	(995,116	)	$	(756,864	)	$	(370,882	)	$	1,127,746	$	(995,116	)

CONSOLIDATING STATEMENT OF OPERATIONS

For the nine months ended September 30, 2010

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries		Consolidated PulteGroup, Inc.
Revenues
Homebuilding
Home sale revenues	$	—		$	3,264,643		$	—		$	—	$	3,264,643
Land sale revenues		—			25,639			—			—		25,639

		—			3,290,282			—			—		3,290,282
Financial Services		—			2,629			91,109			—		93,738

		—			3,292,911			91,109			—		3,384,020

Homebuilding Cost of Revenues
Home sale cost of revenues		—			2,907,339			—			—		2,907,339
Land sale cost of revenues		—			16,410			—			—		16,410

		—			2,923,749			—			—		2,923,749
Financial Services expenses		564			(1,808	)		94,577			—		93,333
Selling, general, and administrative expenses		50,835			492,789			200,740			—		744,364
Other expense (income), net		(301	)		679,072			(4,999	)		—		673,772
Interest income		—			(7,248	)		(424	)		—		(7,672	)
Interest expense		2,289			—			—			—		2,289
Intercompany interest		126,229			(126,343	)		114			—		—
Equity in (earnings) loss of unconsolidated entities		(9	)		(2,898	)		1,163			—		(1,744	)

Income (loss) before income taxes and equity in income (loss) of subsidiaries		(179,607	)		(664,402	)		(200,062	)		—		(1,044,071	)
Income tax expense (benefit)		64,460			(112,572	)		(64,658	)		—		(112,770	)

Income (loss) before equity in income (loss) of subsidiaries		(244,067	)		(551,830	)		(135,404	)		—		(931,301	)
Equity in income (loss) of subsidiaries		(687,234	)		(4,109	)		(81,334	)		772,677		—

Net income (loss)	$	(931,301	)	$	(555,939	)	$	(216,738	)	$	772,677	$	(931,301	)

Statement Of Cash Flows

CONSOLIDATING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2011

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries		Consolidated PulteGroup, Inc.
Net cash provided by (used in) operating activities	$	(22,639	)	$	(148,312	)	$	7,221		$	—	$	(163,730	)

Cash flows from investing activities:
Distributions from unconsolidated entities		—			4,388			—			—		4,388
Investments in unconsolidated entities		—			(3,749	)		—			—		(3,749	)
Change in restricted cash related to letters of credit		(89,385	)		—								(89,385	)
Net change in loans held for investment		—			—			449			—		449
Proceeds from the sale of fixed assets		—			9,449			—			—		9,449
Capital expenditures		—			(12,133	)		(3,029	)		—		(15,162	)

Net cash provided by (used in) investing activities		(89,385	)		(2,045	)		(2,580	)		—		(94,010	)

Cash flows from financing activities:
Repayments of other borrowings		(69,311	)		960			—			—		(68,351	)
Intercompany activities, net		286,384			(252,468	)		(33,916	)		—		—
Stock repurchases		(2,021	)		—			—			—		(2,021	)

Net cash provided by (used in) financing activities		215,052			(251,508	)		(33,916	)		—		(70,372	)

Net increase (decrease) in cash and equivalents		103,028			(401,865	)		(29,275	)		—		(328,112	)
Cash and equivalents at beginning of period		10,000			1,089,439			371,186			—		1,470,625

Cash and equivalents at end of period	$	113,028		$	687,574		$	341,911		$	—	$	1,142,513

CONSOLIDATING STATEMENT OF CASH FLOWS

For the nine months ended September 30, 2010

($000's omitted)


	Unconsolidated
	PulteGroup, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries		Consolidated PulteGroup, Inc.
Net cash provided by (used in) operating activities	$	661,137		$	149,731		$	(12,282	)	$	—	$	798,586

Cash flows from investing activities:
Distributions from unconsolidated entities		—			3,893			—			—		3,893
Investments in unconsolidated entities		—			(21,398	)		(1,268	)		—		(22,666	)
Net change in loans held for investment		—			—			9,898			—		9,898
Proceeds from the sale of fixed assets		—			1,231			9			—		1,240
Capital expenditures		—			(10,197	)		(1,450	)		—		(11,647	)

Net cash provided by (used in) investing activities		—			(26,471	)		7,189			—		(19,282	)

Cash flows from financing activities:
Net borrowings under Financial Services credit arrangements		—			—			(18,394	)		—		(18,394	)
Repayment of other borrowings		—			(1,415	)		—			—		(1,415	)
Intercompany activities, net		(656,690	)		621,414			35,276			—		—
Issuance of common stock		8,668			—			—			—		8,668
Stock repurchases		(3,115	)		—			—			—		(3,115	)

Net cash provided by (used in) financing activities		(651,137	)		619,999			16,882			—		(14,256	)

Net increase (decrease) in cash and equivalents		10,000			743,259			11,789			—		765,048
Cash and equivalents at beginning of period		—			1,501,684			356,550			—		1,858,234

Cash and equivalents at end of period	$	10,000		$	2,244,943		$	368,339		$	—	$	2,623,282