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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2014
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2014 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 261,885 |  |  | $ | 950,771 |  |  | $ | 55,506 |  |  | $ | — |  |  | $ | 1,268,162 |
Restricted cash | 60,690 |  |  | 2,729 |  |  | 12,177 |  |  | — |  |  | 75,596 |
House and land inventory | — |  |  | 4,033,584 |  |  | 710 |  |  | — |  |  | 4,034,294 |
Land held for sale | — |  |  | 71,497 |  |  | 1,034 |  |  | — |  |  | 72,531 |
Land, not owned, under option agreements | — |  |  | 22,200 |  |  | — |  |  | — |  |  | 22,200 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 209,921 |  |  | — |  |  | 209,921 |
Investments in unconsolidated entities | 70 |  |  | 36,019 |  |  | 4,031 |  |  | — |  |  | 40,120 |
Other assets | 34,034 |  |  | 374,644 |  |  | 52,368 |  |  | — |  |  | 461,046 |
Intangible assets | — |  |  | 132,873 |  |  | — |  |  | — |  |  | 132,873 |
Deferred tax assets, net | 2,022,051 |  |  | 17 |  |  | 12,600 |  |  | — |  |  | 2,034,668 |
Investments in subsidiaries and intercompany accounts, net | 4,385,910 |  |  | 197,260 |  |  | 6,080,952 |  |  | (10,664,122 | ) |  | — |
| $ | 6,764,640 |  |  | $ | 5,821,594 |  |  | $ | 6,429,299 |  |  | $ | (10,664,122 | ) |  | $ | 8,351,411 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 80,725 |  |  | $ | 1,344,683 |  |  | $ | 206,253 |  |  | $ | — |  |  | $ | 1,631,661 |
Income tax liabilities | 205,811 |  |  | (1 | ) |  | — |  |  | — |  |  | 205,810 |
Financial Services debt | — |  |  | — |  |  | 35,836 |  |  | — |  |  | 35,836 |
Senior notes | 1,814,041 |  |  | — |  |  | — |  |  | — |  |  | 1,814,041 |
Total liabilities | 2,100,577 |  |  | 1,344,682 |  |  | 242,089 |  |  | — |  |  | 3,687,348 |
Total shareholders’ equity | 4,664,063 |  |  | 4,476,912 |  |  | 6,187,210 |  |  | (10,664,122 | ) |  | 4,664,063 |
| $ | 6,764,640 |  |  | $ | 5,821,594 |  |  | $ | 6,429,299 |  |  | $ | (10,664,122 | ) |  | $ | 8,351,411 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2013 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | 262,364 |  |  | $ | 1,188,999 |  |  | $ | 128,966 |  |  | $ | — |  |  | $ | 1,580,329 |
Restricted cash | 58,699 |  |  | 2,635 |  |  | 11,381 |  |  | — |  |  | 72,715 |
House and land inventory | — |  |  | 3,977,851 |  |  | 710 |  |  | — |  |  | 3,978,561 |
Land held for sale | — |  |  | 60,701 |  |  | 1,034 |  |  | — |  |  | 61,735 |
Land, not owned, under option agreements | — |  |  | 24,024 |  |  | — |  |  | — |  |  | 24,024 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 287,933 |  |  | — |  |  | 287,933 |
Investments in unconsolidated entities | 68 |  |  | 41,319 |  |  | 3,936 |  |  | — |  |  | 45,323 |
Other assets | 50,251 |  |  | 359,228 |  |  | 51,142 |  |  | — |  |  | 460,621 |
Intangible assets | — |  |  | 136,148 |  |  | — |  |  | — |  |  | 136,148 |
Deferred tax assets, net | 2,074,137 |  |  | 17 |  |  | 12,600 |  |  | — |  |  | 2,086,754 |
Investments in subsidiaries and intercompany accounts, net | 4,532,950 |  |  | (16,513 | ) |  | 5,939,784 |  |  | (10,456,221 | ) |  | — |
| $ | 6,978,469 |  |  | $ | 5,774,409 |  |  | $ | 6,437,486 |  |  | $ | (10,456,221 | ) |  | $ | 8,734,143 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 65,334 |  |  | $ | 1,413,752 |  |  | $ | 236,258 |  |  | $ | — |  |  | $ | 1,715,344 |
Income tax liabilities | 206,015 |  |  | — |  |  | — |  |  | — |  |  | 206,015 |
Financial Services debt | — |  |  | — |  |  | 105,664 |  |  | — |  |  | 105,664 |
Senior notes | 2,058,168 |  |  | — |  |  | — |  |  | — |  |  | 2,058,168 |
Total liabilities | 2,329,517 |  |  | 1,413,752 |  |  | 341,922 |  |  | — |  |  | 4,085,191 |
Total shareholders’ equity | 4,648,952 |  |  | 4,360,657 |  |  | 6,095,564 |  |  | (10,456,221 | ) |  | 4,648,952 |
| $ | 6,978,469 |  |  | $ | 5,774,409 |  |  | $ | 6,437,486 |  |  | $ | (10,456,221 | ) |  | $ | 8,734,143 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended March 31, 2014 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,088,015 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,088,015 |
Land sale revenues | — |  |  | 5,984 |  |  | — |  |  | — |  |  | 5,984 |
| — |  |  | 1,093,999 |  |  | — |  |  | — |  |  | 1,093,999 |
Financial Services | — |  |  | 379 |  |  | 24,516 |  |  | — |  |  | 24,895 |
| — |  |  | 1,094,378 |  |  | 24,516 |  |  | — |  |  | 1,118,894 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 828,603 |  |  | — |  |  | — |  |  | 828,603 |
Land sale cost of revenues | — |  |  | 5,011 |  |  | — |  |  | — |  |  | 5,011 |
| — |  |  | 833,614 |  |  | — |  |  | — |  |  | 833,614 |
Financial Services expenses | 201 |  |  | 77 |  |  | 3,044 |  |  | — |  |  | 3,322 |
Selling, general and administrative expenses | — |  |  | 144,724 |  |  | 163 |  |  | — |  |  | 144,887 |
Other expense, net | 8,568 |  |  | 4,981 |  |  | 282 |  |  | — |  |  | 13,831 |
Interest income | (121 | ) |  | (971 | ) |  | (19 | ) |  | — |  |  | (1,111 | )
Interest expense | 213 |  |  | — |  |  | — |  |  | — |  |  | 213 |
Equity in (earnings) loss of unconsolidated entities | (2 | ) |  | (5,802 | ) |  | (87 | ) |  | — |  |  | (5,891 | )
Intercompany interest | 253 |  |  | 1,944 |  |  | (2,197 | ) |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (9,112 | ) |  | 115,811 |  |  | 23,330 |  |  | — |  |  | 130,029 |
Income tax expense (benefit) | (82 | ) |  | 52,727 |  |  | 2,565 |  |  | — |  |  | 55,210 |
Income (loss) before equity in income (loss) of subsidiaries | (9,030 | ) |  | 63,084 |  |  | 20,765 |  |  | — |  |  | 74,819 |
Equity in income (loss) of subsidiaries | 83,849 |  |  | 20,887 |  |  | 60,216 |  |  | (164,952 | ) |  | — |
Net income (loss) | 74,819 |  |  | 83,971 |  |  | 80,981 |  |  | (164,952 | ) |  | 74,819 |
Other comprehensive income | 40 |  |  | — |  |  | — |  |  | — |  |  | 40 |
Comprehensive income | $ | 74,859 |  |  | $ | 83,971 |  |  | $ | 80,981 |  |  | $ | (164,952 | ) |  | $ | 74,859 |
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 |
Equity in (earnings) loss of unconsolidated entities | 174,865 |  |  | (172,399 | ) |  | (2,466 | ) |  | — |  |  | — |
Intercompany interest | 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 (loss) | $ | 81,810 |  |  | $ | 258,870 |  |  | $ | 186,072 |  |  | $ | (444,942 | ) |  | $ | 81,810 |
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2014 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 27,643 |  |  | $ | (14,676 | ) |  | $ | 78,429 |  |  | $ | — |  |  | $ | 91,396 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Distributions from unconsolidated entities | — |  |  | 6,385 |  |  | — |  |  | — |  |  | 6,385 |
Investments in unconsolidated entities | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Net change in loans held for investment | — |  |  | — |  |  | (6,390 | ) |  | — |  |  | (6,390 | )
Change in restricted cash related to letters of credit | (1,991 | ) |  | — |  |  | — |  |  | — |  |  | (1,991 | )
Proceeds from the sale of property and equipment | — |  |  | 23 |  |  | — |  |  | — |  |  | 23 |
Capital expenditures | — |  |  | (16,466 | ) |  | (1,399 | ) |  |  |  |  | (17,865 | )
Net cash provided by (used in) investing activities | (1,991 | ) |  | (10,058 | ) |  | (7,798 | ) |  | — |  |  | (19,847 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (69,828 | ) |  | — |  |  | (69,828 | )
Other borrowings (repayments) | (249,765 | ) |  | (248 | ) |  | — |  |  | — |  |  | (250,013 | )
Stock option exercises | 5,295 |  |  | — |  |  | — |  |  | — |  |  | 5,295 |
Stock repurchases | (50,105 | ) |  | — |  |  | — |  |  | — |  |  | (50,105 | )
Dividends paid | (19,065 | ) |  | — |  |  | — |  |  | — |  |  | (19,065 | )
Intercompany activities, net | 287,509 |  |  | (213,246 | ) |  | (74,263 | ) |  |  |  |  | — |
Net cash provided by (used in) financing activities | (26,131 | ) |  | (213,494 | ) |  | (144,091 | ) |  | — |  |  | (383,716 | )
Net increase (decrease) in cash and equivalents | (479 | ) |  | (238,228 | ) |  | (73,460 | ) |  | — |  |  | (312,167 | )
Cash and equivalents at beginning of period | 262,364 |  |  | 1,188,999 |  |  | 128,966 |  |  | — |  |  | 1,580,329 |
Cash and equivalents at end of period | $ | 261,885 |  |  | $ | 950,771 |  |  | $ | 55,506 |  |  | $ | — |  |  | $ | 1,268,162 |
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 |

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