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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2012
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2012 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 129,287 |  |  | $ | 998,732 |  |  | $ | 83,716 |  |  | $ | — |  |  | $ | 1,211,735 |
Restricted cash | 71,261 |  |  | 3,755 |  |  | 14,853 |  |  | — |  |  | 89,869 |
House and land inventory | — |  |  | 4,580,285 |  |  | 4,131 |  |  | — |  |  | 4,584,416 |
Land held for sale | — |  |  | 136,232 |  |  | — |  |  | — |  |  | 136,232 |
Land, not owned, under option agreements | — |  |  | 26,121 |  |  | — |  |  | — |  |  | 26,121 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 184,164 |  |  | — |  |  | 184,164 |
Securities purchased under agreements to resell | 54,513 |  |  | — |  |  | (54,513 | ) |  | — |  |  | — |
Investments in unconsolidated entities | 1,529 |  |  | 29,914 |  |  | 2,703 |  |  | — |  |  | 34,146 |
Income taxes receivable | 29,673 |  |  | — |  |  | — |  |  | — |  |  | 29,673 |
Other assets | 20,010 |  |  | 350,709 |  |  | 33,295 |  |  | — |  |  | 404,014 |
Intangible assets | — |  |  | 159,073 |  |  | — |  |  | — |  |  | 159,073 |
Deferred income tax assets | (15,517 | ) |  | 23 |  |  | 15,494 |  |  | — |  |  | — |
Investments in subsidiaries and intercompany accounts, net | 5,029,795 |  |  | 6,756,981 |  |  | 6,069,822 |  |  | (17,856,598 | ) |  | — |
| $ | 5,320,551 |  |  | $ | 13,041,825 |  |  | $ | 6,353,665 |  |  | $ | (17,856,598 | ) |  | $ | 6,859,443 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 85,627 |  |  | $ | 1,273,759 |  |  | $ | 265,133 |  |  | $ | — |  |  | $ | 1,624,519 |
Income tax liabilities | 215,150 |  |  | — |  |  | — |  |  | — |  |  | 215,150 |
Senior notes | 3,090,946 |  |  | — |  |  | — |  |  | — |  |  | 3,090,946 |
Total liabilities | 3,391,723 |  |  | 1,273,759 |  |  | 265,133 |  |  | — |  |  | 4,930,615 |
Total shareholders’ equity | 1,928,828 |  |  | 11,768,066 |  |  | 6,088,532 |  |  | (17,856,598 | ) |  | 1,928,828 |
| $ | 5,320,551 |  |  | $ | 13,041,825 |  |  | $ | 6,353,665 |  |  | $ | (17,856,598 | ) |  | $ | 6,859,443 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2011 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 119,287 |  |  | $ | 875,561 |  |  | $ | 88,223 |  |  | $ | — |  |  | $ | 1,083,071 |
Restricted cash | 83,199 |  |  | 3,255 |  |  | 15,406 |  |  | — |  |  | 101,860 |
House and land inventory | — |  |  | 4,632,337 |  |  | 4,131 |  |  | — |  |  | 4,636,468 |
Land held for sale | — |  |  | 135,307 |  |  | — |  |  | — |  |  | 135,307 |
Land, not owned, under option agreements | — |  |  | 24,905 |  |  | — |  |  | — |  |  | 24,905 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 258,075 |  |  | — |  |  | 258,075 |
Securities purchased under agreements to resell | 127,327 |  |  | — |  |  | (127,327 | ) |  | — |  |  | — |
Investments in unconsolidated entities | 1,527 |  |  | 31,836 |  |  | 2,625 |  |  | — |  |  | 35,988 |
Income taxes receivable | 27,154 |  |  | — |  |  | — |  |  | — |  |  | 27,154 |
Other assets | 20,983 |  |  | 364,747 |  |  | 34,714 |  |  | — |  |  | 420,444 |
Intangible assets | — |  |  | 162,348 |  |  | — |  |  | — |  |  | 162,348 |
Deferred income tax assets | (15,517 | ) |  | 23 |  |  | 15,494 |  |  | — |  |  | — |
Investments in subsidiaries and intercompany accounts, net | 4,937,002 |  |  | 6,533,838 |  |  | 6,366,758 |  |  | (17,837,598 | ) |  | — |
| $ | 5,300,962 |  |  | $ | 12,764,157 |  |  | $ | 6,658,099 |  |  | $ | (17,837,598 | ) |  | $ | 6,885,620 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 70,690 |  |  | $ | 1,310,972 |  |  | $ | 273,686 |  |  | $ | — |  |  | $ | 1,655,348 |
Income tax liabilities | 203,313 |  |  | — |  |  | — |  |  | — |  |  | 203,313 |
Senior notes | 3,088,344 |  |  | — |  |  | — |  |  | — |  |  | 3,088,344 |
Total liabilities | 3,362,347 |  |  | 1,310,972 |  |  | 273,686 |  |  | — |  |  | 4,947,005 |
Total shareholders’ equity | 1,938,615 |  |  | 11,453,185 |  |  | 6,384,413 |  |  | (17,837,598 | ) |  | 1,938,615 |
| $ | 5,300,962 |  |  | $ | 12,764,157 |  |  | $ | 6,658,099 |  |  | $ | (17,837,598 | ) |  | $ | 6,885,620 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended March 31, 2012 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 813,786 |  |  | $ | — |  |  | $ | — |  |  | $ | 813,786 |
Land sale revenues | — |  |  | 38,398 |  |  | — |  |  | — |  |  | 38,398 |
| — |  |  | 852,184 |  |  | — |  |  | — |  |  | 852,184 |
Financial Services | — |  |  | 373 |  |  | 28,479 |  |  | — |  |  | 28,852 |
| — |  |  | 852,557 |  |  | 28,479 |  |  | — |  |  | 881,036 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 712,166 |  |  | — |  |  | — |  |  | 712,166 |
Land sale cost of revenues | — |  |  | 33,397 |  |  | — |  |  | — |  |  | 33,397 |
| — |  |  | 745,563 |  |  | — |  |  | — |  |  | 745,563 |
Financial Services expenses | 65 |  |  | 114 |  |  | 21,830 |  |  | — |  |  | 22,009 |
Selling, general and administrative expenses | — |  |  | 122,407 |  |  | 907 |  |  | — |  |  | 123,314 |
Other expense (income), net | (19 | ) |  | 6,291 |  |  | 347 |  |  | — |  |  | 6,619 |
Interest income | (62 | ) |  | (1,113 | ) |  | (24 | ) |  | — |  |  | (1,199 | )
Interest expense | 217 |  |  | — |  |  | — |  |  | — |  |  | 217 |
Intercompany interest | 109,133 |  |  | (105,892 | ) |  | (3,241 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | (2 | ) |  | (1,916 | ) |  | (78 | ) |  | — |  |  | (1,996 | )
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (109,332 | ) |  | 87,103 |  |  | 8,738 |  |  | — |  |  | (13,491 | )
Income tax expense (benefit) | 29,191 |  |  | (5,744 | ) |  | (25,272 | ) |  | — |  |  | (1,825 | )
Income (loss) before equity in income (loss) of subsidiaries | (138,523 | ) |  | 92,847 |  |  | 34,010 |  |  | — |  |  | (11,666 | )
Equity in income (loss) of subsidiaries | 126,857 |  |  | 34,483 |  |  | 50,131 |  |  | (211,471 | ) |  | — |
Net income (loss) | (11,666 | ) |  | 127,330 |  |  | 84,141 |  |  | (211,471 | ) |  | (11,666 | )
Other comprehensive income (loss) | 57 |  |  | — |  |  | — |  |  | — |  |  | 57 |
Comprehensive income (loss) | $ | (11,609 | ) |  | $ | 127,330 |  |  | $ | 84,141 |  |  | $ | (211,471 | ) |  | $ | (11,609 | )
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended March 31, 2011 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 782,471 |  |  | $ | — |  |  | $ | — |  |  | $ | 782,471 |
Land sale revenues | — |  |  | 1,296 |  |  | — |  |  | — |  |  | 1,296 |
| — |  |  | 783,767 |  |  | — |  |  | — |  |  | 783,767 |
Financial Services | — |  |  | 283 |  |  | 21,152 |  |  | — |  |  | 21,435 |
| — |  |  | 784,050 |  |  | 21,152 |  |  | — |  |  | 805,202 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 685,030 |  |  | — |  |  | — |  |  | 685,030 |
Land sale cost of revenues | — |  |  | 930 |  |  | — |  |  | — |  |  | 930 |
| — |  |  | 685,960 |  |  | — |  |  | — |  |  | 685,960 |
Financial Services expenses | 145 |  |  | 146 |  |  | 20,182 |  |  | — |  |  | 20,473 |
Selling, general and administrative expenses | 10,993 |  |  | 129,293 |  |  | 2,160 |  |  | — |  |  | 142,446 |
Other expense (income), net | 41 |  |  | 4,743 |  |  | (874 | ) |  | — |  |  | 3,910 |
Interest income | — |  |  | (1,327 | ) |  | (110 | ) |  | — |  |  | (1,437 | )
Interest expense | 351 |  |  | — |  |  | — |  |  | — |  |  | 351 |
Intercompany interest | 10,712 |  |  | (8,644 | ) |  | (2,068 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | — |  |  | (1,049 | ) |  | (60 | ) |  | — |  |  | (1,109 | )
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (22,242 | ) |  | (25,072 | ) |  | 1,922 |  |  | — |  |  | (45,392 | )
Income tax expense (benefit) | (707 | ) |  | (5,801 | ) |  | 642 |  |  | — |  |  | (5,866 | )
Income (loss) before equity in income (loss) of subsidiaries | (21,535 | ) |  | (19,271 | ) |  | 1,280 |  |  | — |  |  | (39,526 | )
Equity in income (loss) of subsidiaries | (17,991 | ) |  | 1,560 |  |  | (67,311 | ) |  | 83,742 |  |  | — |
Net income (loss) | (39,526 | ) |  | (17,711 | ) |  | (66,031 | ) |  | 83,742 |  |  | (39,526 | )
Other comprehensive income (loss) | (42 | ) |  | — |  |  | — |  |  | — |  |  | (42 | )
Comprehensive income (loss) | $ | (39,568 | ) |  | $ | (17,711 | ) |  | $ | (66,031 | ) |  | $ | 83,742 |  |  | $ | (39,568 | )
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2012 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | (106,147 | ) |  | $ | 115,341 |  |  | $ | 105,496 |  |  | $ | — |  |  | $ | 114,690 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Investments in unconsolidated entities | — |  |  | (49 | ) |  | — |  |  | — |  |  | (49 | )
Net change in loans held for investment | — |  |  | — |  |  | 293 |  |  | — |  |  | 293 |
Change in restricted cash related to letters of credit | 11,938 |  |  | — |  |  | — |  |  | — |  |  | 11,938 |
Proceeds from the sale of fixed assets | — |  |  | 4,475 |  |  | — |  |  | — |  |  | 4,475 |
Capital expenditures | — |  |  | (3,249 | ) |  | (509 | ) |  | — |  |  | (3,758 | )
Net cash provided by (used in) investing activities | 11,938 |  |  | 1,177 |  |  | (216 | ) |  | — |  |  | 12,899 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net borrowings (repayments) of other borrowings | — |  |  | 1,920 |  |  | — |  |  | — |  |  | 1,920 |
Intercompany activities, net | 105,054 |  |  | 4,733 |  |  | (109,787 | ) |  | — |  |  | — |
Stock repurchases | (845 | ) |  | — |  |  | — |  |  | — |  |  | (845 | )
Net cash provided by (used in) financing activities | 104,209 |  |  | 6,653 |  |  | (109,787 | ) |  | — |  |  | 1,075 |
Net increase (decrease) in cash and equivalents | 10,000 |  |  | 123,171 |  |  | (4,507 | ) |  | — |  |  | 128,664 |
Cash and equivalents at beginning of period | 119,287 |  |  | 875,561 |  |  | 88,223 |  |  | — |  |  | 1,083,071 |
Cash and equivalents at end of period | $ | 129,287 |  |  | $ | 998,732 |  |  | $ | 83,716 |  |  | $ | — |  |  | $ | 1,211,735 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2011 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 4,542 |  |  | $ | (73,387 | ) |  | $ | 19,204 |  |  | $ | — |  |  | $ | (49,641 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Distributions from unconsolidated entities | — |  |  | 1,021 |  |  | — |  |  | — |  |  | 1,021 |
Investments in unconsolidated entities | — |  |  | (1,968 | ) |  | — |  |  | — |  |  | (1,968 | )
Net change in loans held for investment | — |  |  | — |  |  | 255 |  |  | — |  |  | 255 |
Change in restricted cash related to letters of credit | (109,667 | ) |  | — |  |  | — |  |  | — |  |  | (109,667 | )
Proceeds from the sale of fixed assets | — |  |  | 2,441 |  |  | — |  |  | — |  |  | 2,441 |
Capital expenditures | — |  |  | (5,097 | ) |  | (1,031 | ) |  | — |  |  | (6,128 | )
Net cash provided by (used in) investing activities | (109,667 | ) |  | (3,603 | ) |  | (776 | ) |  | — |  |  | (114,046 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net borrowings (repayments) of other borrowings | (13,902 | ) |  | 590 |  |  | — |  |  | — |  |  | (13,312 | )
Intercompany activities, net | 202,578 |  |  | (154,222 | ) |  | (48,356 | ) |  | — |  |  | — |
Stock repurchases | (969 | ) |  | — |  |  | — |  |  | — |  |  | (969 | )
Net cash provided by (used in) financing activities | 187,707 |  |  | (153,632 | ) |  | (48,356 | ) |  | — |  |  | (14,281 | )
Net increase (decrease) in cash and equivalents | 82,582 |  |  | (230,622 | ) |  | (29,928 | ) |  | — |  |  | (177,968 | )
Cash and equivalents at beginning of period | 10,000 |  |  | 1,106,623 |  |  | 366,767 |  |  | — |  |  | 1,483,390 |
Cash and equivalents at end of period | $ | 92,582 |  |  | $ | 876,001 |  |  | $ | 336,839 |  |  | $ | — |  |  | $ | 1,305,422 |

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