XML 22 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 494,090 $ 474,338 $ 2,620,116
Adjustments to reconcile net income to net cash from operating activities:      
Deferred income tax expense (benefit) 311,699 223,769 (2,096,425)
Write-down of land and deposits and pre-acquisition costs 11,467 11,168 9,672
Depreciation and amortization 46,222 39,864 31,587
Share-based compensation expense 24,752 29,292 30,480
Loss on debt retirements 0 8,584 26,930
Other, net 5,605 6,091 10,294
Increase (decrease) in cash due to:      
Restricted cash (8,626) 1,368 3,387
Inventories (927,768) (346,596) 265,064
Residential mortgage loans available-for-sale (104,609) (53,734) 28,448
Other assets (177,063) (46,249) (38,190)
Accounts payable, accrued and other liabilities (23,898) (38,646) (10,227)
Net cash provided by (used in) operating activities (348,129) 309,249 881,136
Cash flows from investing activities:      
Net change in loans held for investment 8,664 335 (12,265)
Change in restricted cash related to letters of credit 3,710 54,989 (4,152)
Capital expenditures (45,440) (48,790) (28,899)
Cash used for business acquisition 0 (82,419) 0
Other investing activities, net 2,212 8,261 (661)
Net cash used in investing activities (30,854) (67,624) (45,977)
Cash flows from financing activities:      
Proceeds from debt issuance 500,000 0 0
Repayments of debt (239,193) (250,631) (479,827)
Borrowings under revolving credit facility 125,000 0 0
Repayments under revolving credit facility (125,000) 0 0
Financial Services borrowings (repayments) 127,636 34,577 (33,131)
Stock option exercises 10,535 15,627 19,411
Share repurchases (442,738) (253,019) (127,661)
Dividends paid (115,958) (75,646) (38,382)
Net cash used in financing activities (159,718) (529,092) (659,590)
Net increase (decrease) in cash and equivalents (538,701) (287,467) 175,569
Cash and equivalents at beginning of period 1,292,862 1,580,329 1,404,760
Cash and equivalents at end of period 754,161 1,292,862 1,580,329
Supplemental Cash Flow Information:      
Interest paid (capitalized), net (4,193) (4,561) (171)
Income taxes paid (refunded), net $ (5,654) $ 1,030 $ 373