Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2013

Supplemental Guarantor Information [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

MARCH 31, 2013

($000’s omitted)



	Unconsolidated						Eliminating Entries			Consolidated PulteGroup, Inc.
	PulteGroup, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated PulteGroup, Inc.
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		Eliminating Entries			Consolidated PulteGroup, Inc.
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		Consolidated PulteGroup, Inc.
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		Consolidated PulteGroup, Inc.
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