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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2013
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2013 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 190,757 |  |  | $ | 1,316,119 |  |  | $ | 86,048 |  |  | $ | — |  |  | $ | 1,592,924 |
Restricted cash | 50,034 |  |  | 3,880 |  |  | 12,663 |  |  | — |  |  | 66,577 |
House and land inventory | — |  |  | 4,108,952 |  |  | 3,845 |  |  | — |  |  | 4,112,797 |
Land held for sale | — |  |  | 92,153 |  |  | — |  |  | — |  |  | 92,153 |
Land, not owned, under option agreements | — |  |  | 38,988 |  |  | — |  |  | — |  |  | 38,988 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 238,204 |  |  | — |  |  | 238,204 |
Investments in unconsolidated entities | 70 |  |  | 41,012 |  |  | 3,662 |  |  | — |  |  | 44,744 |
Other assets | 19,631 |  |  | 332,555 |  |  | 56,595 |  |  | — |  |  | 408,781 |
Intangible assets | — |  |  | 145,973 |  |  | — |  |  | — |  |  | 145,973 |
Investments in subsidiaries and intercompany accounts, net | 4,797,074 |  |  | 7,292,980 |  |  | 6,880,435 |  |  | (18,970,489 | ) |  | — |
| $ | 5,057,566 |  |  | $ | 13,372,612 |  |  | $ | 7,281,452 |  |  | $ | (18,970,489 | ) |  | $ | 6,741,141 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 73,459 |  |  | $ | 1,340,300 |  |  | $ | 286,644 |  |  | $ | — |  |  | $ | 1,700,403 |
Income tax liabilities | 196,863 |  |  | — |  |  | — |  |  | — |  |  | 196,863 |
Financial Services debt | — |  |  | — |  |  | 56,631 |  |  | — |  |  | 56,631 |
Senior notes | 2,511,729 |  |  | — |  |  | — |  |  | — |  |  | 2,511,729 |
Total liabilities | 2,782,051 |  |  | 1,340,300 |  |  | 343,275 |  |  | — |  |  | 4,465,626 |
Total shareholders’ equity | 2,275,515 |  |  | 12,032,312 |  |  | 6,938,177 |  |  | (18,970,489 | ) |  | 2,275,515 |
| $ | 5,057,566 |  |  | $ | 13,372,612 |  |  | $ | 7,281,452 |  |  | $ | (18,970,489 | ) |  | $ | 6,741,141 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2012 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 146,168 |  |  | $ | 1,063,943 |  |  | $ | 194,649 |  |  | $ | — |  |  | $ | 1,404,760 |
Restricted cash | 54,546 |  |  | 3,365 |  |  | 14,039 |  |  | — |  |  | 71,950 |
House and land inventory | — |  |  | 4,210,201 |  |  | 3,845 |  |  | — |  |  | 4,214,046 |
Land held for sale | — |  |  | 91,104 |  |  | — |  |  | — |  |  | 91,104 |
Land, not owned, under option agreements | — |  |  | 31,066 |  |  | — |  |  | — |  |  | 31,066 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 318,931 |  |  | — |  |  | 318,931 |
Investments in unconsolidated entities | 1,528 |  |  | 40,973 |  |  | 3,128 |  |  | — |  |  | 45,629 |
Other assets | 28,951 |  |  | 324,109 |  |  | 54,615 |  |  | — |  |  | 407,675 |
Intangible assets | — |  |  | 149,248 |  |  | — |  |  | — |  |  | 149,248 |
Investments in subsidiaries and intercompany accounts, net | 4,723,466 |  |  | 7,198,710 |  |  | 6,296,915 |  |  | (18,219,091 | ) |  | — |
| $ | 4,954,659 |  |  | $ | 13,112,719 |  |  | $ | 6,886,122 |  |  | $ | (18,219,091 | ) |  | $ | 6,734,409 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 56,565 |  |  | $ | 1,343,653 |  |  | $ | 297,302 |  |  | $ | — |  |  | $ | 1,697,520 |
Income tax liabilities | 198,865 |  |  | — |  |  | — |  |  | — |  |  | 198,865 |
Financial Services debt | — |  |  | — |  |  | 138,795 |  |  | — |  |  | 138,795 |
Senior notes | 2,509,613 |  |  | — |  |  | — |  |  | — |  |  | 2,509,613 |
Total liabilities | 2,765,043 |  |  | 1,343,653 |  |  | 436,097 |  |  | — |  |  | 4,544,793 |
Total shareholders’ equity | 2,189,616 |  |  | 11,769,066 |  |  | 6,450,025 |  |  | (18,219,091 | ) |  | 2,189,616 |
| $ | 4,954,659 |  |  | $ | 13,112,719 |  |  | $ | 6,886,122 |  |  | $ | (18,219,091 | ) |  | $ | 6,734,409 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended March 31, 2013 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,099,752 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,099,752 |
Land sale revenues | — |  |  | 26,131 |  |  | — |  |  | — |  |  | 26,131 |
| — |  |  | 1,125,883 |  |  | — |  |  | — |  |  | 1,125,883 |
Financial Services | — |  |  | 619 |  |  | 36,254 |  |  | — |  |  | 36,873 |
| — |  |  | 1,126,502 |  |  | 36,254 |  |  | — |  |  | 1,162,756 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 901,470 |  |  | — |  |  | — |  |  | 901,470 |
Land sale cost of revenues | — |  |  | 22,018 |  |  | — |  |  | — |  |  | 22,018 |
| — |  |  | 923,488 |  |  | — |  |  | — |  |  | 923,488 |
Financial Services expenses | 208 |  |  | 143 |  |  | 22,237 |  |  | — |  |  | 22,588 |
Selling, general and administrative expenses | — |  |  | 128,892 |  |  | 734 |  |  | — |  |  | 129,626 |
Other expense (income), net | (15 | ) |  | 4,403 |  |  | 384 |  |  | — |  |  | 4,772 |
Interest income | (76 | ) |  | (1,055 | ) |  | (42 | ) |  | — |  |  | (1,173 | )
Interest expense | 207 |  |  | — |  |  | — |  |  | — |  |  | 207 |
Intercompany interest | 174,865 |  |  | (172,399 | ) |  | (2,466 | ) |  | — |  |  | — |
Equity in (earnings) loss of unconsolidated entities | 1,459 |  |  | (26 | ) |  | (535 | ) |  | — |  |  | 898 |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (176,648 | ) |  | 243,056 |  |  | 15,942 |  |  | — |  |  | 82,350 |
Income tax expense (benefit) | 152 |  |  | (4,393 | ) |  | 4,829 |  |  | — |  |  | 588 |
Income (loss) before equity in income (loss) of subsidiaries | (176,800 | ) |  | 247,449 |  |  | 11,113 |  |  | — |  |  | 81,762 |
Equity in income (loss) of subsidiaries | 258,562 |  |  | 11,421 |  |  | 174,959 |  |  | (444,942 | ) |  | — |
Net income (loss) | 81,762 |  |  | 258,870 |  |  | 186,072 |  |  | (444,942 | ) |  | 81,762 |
Other comprehensive income | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Comprehensive income | $ | 81,810 |  |  | $ | 258,870 |  |  | $ | 186,072 |  |  | $ | (444,942 | ) |  | $ | 81,810 |
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 | 57 |  |  | — |  |  | — |  |  | — |  |  | 57 |
Comprehensive income (loss) | $ | (11,609 | ) |  | $ | 127,330 |  |  | $ | 84,141 |  |  | $ | (211,471 | ) |  | $ | (11,609 | )
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2013 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | (146,577 | ) |  | $ | 331,557 |  |  | $ | 85,640 |  |  | $ | — |  |  | $ | 270,620 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Distributions from unconsolidated entities | — |  |  | 200 |  |  | — |  |  | — |  |  | 200 |
Investments in unconsolidated entities | — |  |  | (593 | ) |  | — |  |  | — |  |  | (593 | )
Net change in loans held for investment | — |  |  |  |  |  | 10 |  |  | — |  |  | 10 |
Change in restricted cash related to letters of credit | 4,513 |  |  | — |  |  | — |  |  | — |  |  | 4,513 |
Proceeds from the sale of property and equipment | — |  |  | 59 |  |  | — |  |  | — |  |  | 59 |
Capital expenditures | — |  |  | (4,921 | ) |  | (457 | ) |  | — |  |  | (5,378 | )
Net cash provided by (used in) investing activities | 4,513 |  |  | (5,255 | ) |  | (447 | ) |  | — |  |  | (1,189 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (82,164 | ) |  | — |  |  | (82,164 | )
Other borrowings (repayments) | — |  |  | (213 | ) |  | — |  |  | — |  |  | (213 | )
Stock option exercises | 7,537 |  |  | — |  |  | — |  |  | — |  |  | 7,537 |
Stock repurchases | (6,427 | ) |  | — |  |  | — |  |  | — |  |  | (6,427 | )
Intercompany activities, net | 185,543 |  |  | (73,913 | ) |  | (111,630 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | 186,653 |  |  | (74,126 | ) |  | (193,794 | ) |  | — |  |  | (81,267 | )
Net increase (decrease) in cash and equivalents | 44,589 |  |  | 252,176 |  |  | (108,601 | ) |  | — |  |  | 188,164 |
Cash and equivalents at beginning of period | 146,168 |  |  | 1,063,943 |  |  | 194,649 |  |  | — |  |  | 1,404,760 |
Cash and equivalents at end of period | $ | 190,757 |  |  | $ | 1,316,119 |  |  | $ | 86,048 |  |  | $ | — |  |  | $ | 1,592,924 |
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: |  |  |  |  |  |  |  |  |
Distributions from unconsolidated entities | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 property and equipment | — |  |  | 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: |  |  |  |  |  |  |  |  |
Other borrowings (repayments) | — |  |  | 1,920 |  |  | — |  |  | — |  |  | 1,920 |
Stock option exercises | — |  |  | — |  |  | — |  |  | — |  |  | — |
Stock repurchases | (845 | ) |  | — |  |  | — |  |  | — |  |  | (845 | )
Intercompany activities, net | 105,054 |  |  | 4,733 |  |  | (109,787 | ) |  | — |  |  | — |
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 |

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