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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2016
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2016 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 937,248 |  |  | $ | 58,448 |  |  | $ | — |  |  | $ | 995,696 |
Restricted cash | — |  |  | 20,937 |  |  | 1,482 |  |  | — |  |  | 22,419 |
House and land inventory | — |  |  | 6,160,236 |  |  | 42,243 |  |  | — |  |  | 6,202,479 |
Land held for sale | — |  |  | 84,507 |  |  | 510 |  |  | — |  |  | 85,017 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 290,578 |  |  | — |  |  | 290,578 |
Investments in unconsolidated entities | 97 |  |  | 48,234 |  |  | 4,759 |  |  | — |  |  | 53,090 |
Other assets | 23,002 |  |  | 522,693 |  |  | 140,468 |  |  | — |  |  | 686,163 |
Intangible assets | — |  |  | 163,185 |  |  | — |  |  | — |  |  | 163,185 |
Deferred tax assets, net | 1,342,225 |  |  | — |  |  | 2,628 |  |  | — |  |  | 1,344,853 |
Investments in subsidiaries and intercompany accounts, net | 6,597,500 |  |  | (754,237 | ) |  | 6,491,667 |  |  | (12,334,930 | ) |  | — |
| $ | 7,962,824 |  |  | $ | 7,182,803 |  |  | $ | 7,032,783 |  |  | $ | (12,334,930 | ) |  | $ | 9,843,480 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 88,474 |  |  | $ | 1,569,237 |  |  | $ | 192,805 |  |  | $ | — |  |  | $ | 1,850,516 |
Income tax liabilities | 33,460 |  |  | — |  |  | — |  |  | — |  |  | 33,460 |
Financial Services debt | — |  |  | — |  |  | 118,614 |  |  | — |  |  | 118,614 |
Term loan | 498,817 |  |  | — |  |  | — |  |  | — |  |  | 498,817 |
Senior notes | 2,568,546 |  |  | — |  |  | — |  |  | — |  |  | 2,568,546 |
Total liabilities | 3,189,297 |  |  | 1,569,237 |  |  | 311,419 |  |  | — |  |  | 5,069,953 |
Total shareholders’ equity | 4,773,527 |  |  | 5,613,566 |  |  | 6,721,364 |  |  | (12,334,930 | ) |  | 4,773,527 |
| $ | 7,962,824 |  |  | $ | 7,182,803 |  |  | $ | 7,032,783 |  |  | $ | (12,334,930 | ) |  | $ | 9,843,480 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2015 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 638,602 |  |  | $ | 115,559 |  |  | $ | — |  |  | $ | 754,161 |
Restricted cash | — |  |  | 20,274 |  |  | 1,000 |  |  | — |  |  | 21,274 |
House and land inventory | — |  |  | 5,450,058 |  |  | — |  |  | — |  |  | 5,450,058 |
Land held for sale | — |  |  | 80,458 |  |  | 1,034 |  |  | — |  |  | 81,492 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 442,715 |  |  | — |  |  | 442,715 |
Investments in unconsolidated entities | 93 |  |  | 36,499 |  |  | 4,675 |  |  | — |  |  | 41,267 |
Other assets | 38,991 |  |  | 531,120 |  |  | 90,724 |  |  | — |  |  | 660,835 |
Intangible assets | — |  |  | 110,215 |  |  | — |  |  | — |  |  | 110,215 |
Deferred tax assets, net | 1,392,251 |  |  | 11 |  |  | 2,617 |  |  | — |  |  | 1,394,879 |
Investments in subsidiaries and intercompany accounts, net | 5,529,606 |  |  | 465,644 |  |  | 6,293,018 |  |  | (12,288,268 | ) |  | — |
| $ | 6,960,941 |  |  | $ | 7,332,881 |  |  | $ | 6,951,342 |  |  | $ | (12,288,268 | ) |  | $ | 8,956,896 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 70,061 |  |  | $ | 1,558,885 |  |  | $ | 169,193 |  |  | $ | — |  |  | $ | 1,798,139 |
Income tax liabilities | 57,050 |  |  | — |  |  | — |  |  | — |  |  | 57,050 |
Financial Services debt | — |  |  | — |  |  | 267,877 |  |  | — |  |  | 267,877 |
Term loan | 498,423 |  |  | — |  |  | — |  |  | — |  |  | 498,423 |
Senior notes | 1,576,082 |  |  | — |  |  | — |  |  | — |  |  | 1,576,082 |
Total liabilities | 2,201,616 |  |  | 1,558,885 |  |  | 437,070 |  |  | — |  |  | 4,197,571 |
Total shareholders’ equity | 4,759,325 |  |  | 5,773,996 |  |  | 6,514,272 |  |  | (12,288,268 | ) |  | 4,759,325 |
| $ | 6,960,941 |  |  | $ | 7,332,881 |  |  | $ | 6,951,342 |  |  | $ | (12,288,268 | ) |  | $ | 8,956,896 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2016 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,393,259 |  |  | $ | 984 |  |  | $ | — |  |  | $ | 1,394,243 |
Land sale revenues | — |  |  | 2,010 |  |  | 477 |  |  | — |  |  | 2,487 |
| — |  |  | 1,395,269 |  |  | 1,461 |  |  | — |  |  | 1,396,730 |
Financial Services | — |  |  | — |  |  | 35,848 |  |  | — |  |  | 35,848 |
| — |  |  | 1,395,269 |  |  | 37,309 |  |  | — |  |  | 1,432,578 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 1,087,165 |  |  | 2,164 |  |  | — |  |  | 1,089,329 |
Land sale cost of revenues | — |  |  | 1,643 |  |  | 385 |  |  | — |  |  | 2,028 |
| — |  |  | 1,088,808 |  |  | 2,549 |  |  | — |  |  | 1,091,357 |
Financial Services expenses | — |  |  | 123 |  |  | 25,996 |  |  | — |  |  | 26,119 |
Selling, general, and administrative expenses | — |  |  | 187,581 |  |  | 3,434 |  |  | — |  |  | 191,015 |
Other expense (income), net | 170 |  |  | 9,676 |  |  | (3,972 | ) |  | — |  |  | 5,874 |
Intercompany interest | 510 |  |  | 2,184 |  |  | (2,694 | ) |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (680 | ) |  | 106,897 |  |  | 11,996 |  |  | — |  |  | 118,213 |
Income tax expense (benefit) | (263 | ) |  | 30,568 |  |  | 4,608 |  |  | — |  |  | 34,913 |
Income (loss) before equity in income (loss) of subsidiaries | (417 | ) |  | 76,329 |  |  | 7,388 |  |  | — |  |  | 83,300 |
Equity in income (loss) of subsidiaries | 83,717 |  |  | 7,010 |  |  | 111,918 |  |  | (202,645 | ) |  | — |
Net income (loss) | 83,300 |  |  | 83,339 |  |  | 119,306 |  |  | (202,645 | ) |  | 83,300 |
Other comprehensive income | 21 |  |  | — |  |  | — |  |  | — |  |  | 21 |
Comprehensive income (loss) | $ | 83,321 |  |  | $ | 83,339 |  |  | $ | 119,306 |  |  | $ | (202,645 | ) |  | $ | 83,321 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2015 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,088,158 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,088,158 |
Land sale revenues | — |  |  | 17,542 |  |  | — |  |  | — |  |  | 17,542 |
| — |  |  | 1,105,700 |  |  | — |  |  | — |  |  | 1,105,700 |
Financial Services | — |  |  | — |  |  | 27,598 |  |  | — |  |  | 27,598 |
| — |  |  | 1,105,700 |  |  | 27,598 |  |  | — |  |  | 1,133,298 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | 841,145 |  |  | — |  |  | — |  |  | 841,145 |
Land sale cost of revenues | — |  |  | 13,378 |  |  | — |  |  | — |  |  | 13,378 |
| — |  |  | 854,523 |  |  | — |  |  | — |  |  | 854,523 |
Financial Services expenses | 187 |  |  | (168 | ) |  | 22,522 |  |  | — |  |  | 22,541 |
Selling, general, and administrative expenses | — |  |  | 160,828 |  |  | 484 |  |  | — |  |  | 161,312 |
Other expense (income), net | 174 |  |  | (708 | ) |  | (349 | ) |  | — |  |  | (883 | )
Intercompany interest | 7,723 |  |  | (5,422 | ) |  | (2,301 | ) |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (8,084 | ) |  | 96,647 |  |  | 7,242 |  |  | — |  |  | 95,805 |
Income tax expense (benefit) | (3,072 | ) |  | 41,097 |  |  | 2,809 |  |  | — |  |  | 40,834 |
Income (loss) before equity in income (loss) of subsidiaries | (5,012 | ) |  | 55,550 |  |  | 4,433 |  |  | — |  |  | 54,971 |
Equity in income (loss) of subsidiaries | 59,983 |  |  | 4,337 |  |  | 52,063 |  |  | (116,383 | ) |  | — |
Net income (loss) | 54,971 |  |  | 59,887 |  |  | 56,496 |  |  | (116,383 | ) |  | 54,971 |
Other comprehensive income | 21 |  |  | — |  |  | — |  |  | — |  |  | 21 |
Comprehensive income (loss) | $ | 54,992 |  |  | $ | 59,887 |  |  | $ | 56,496 |  |  | $ | (116,383 | ) |  | $ | 54,992 |
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2016 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 41,058 |  |  | $ | (255,994 | ) |  | $ | 150,874 |  |  | $ | — |  |  | $ | (64,062 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (8,918 | ) |  | (542 | ) |  | — |  |  | (9,460 | )
Cash used for business acquisitions | — |  |  | (430,011 | ) |  | — |  |  | — |  |  | (430,011 | )
Other investing activities, net | (3 | ) |  | (12,731 | ) |  | 453 |  |  | — |  |  | (12,281 | )
Net cash provided by (used in) investing activities | (3 | ) |  | (451,660 | ) |  | (89 | ) |  | — |  |  | (451,752 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from debt issuance | 991,575 |  |  | — |  |  | — |  |  | — |  |  | 991,575 |
Repayments of debt | — |  |  | (702 | ) |  | — |  |  | — |  |  | (702 | )
Borrowings under revolving credit facility | 220,000 |  |  | — |  |  | — |  |  | — |  |  | 220,000 |
Repayments under revolving credit facility | (220,000 | ) |  | — |  |  | — |  |  | — |  |  | (220,000 | )
Financial Services borrowings (repayments) | — |  |  | — |  |  | (149,263 | ) |  | — |  |  | (149,263 | )
Stock option exercises | 52 |  |  | — |  |  | — |  |  | — |  |  | 52 |
Share repurchases | (52,745 | ) |  | — |  |  | — |  |  | — |  |  | (52,745 | )
Dividends paid | (31,568 | ) |  | — |  |  | — |  |  | — |  |  | (31,568 | )
Intercompany activities, net | (948,369 | ) |  | 1,007,002 |  |  | (58,633 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (41,055 | ) |  | 1,006,300 |  |  | (207,896 | ) |  | — |  |  | 757,349 |
Net increase (decrease) in cash and equivalents | — |  |  | 298,646 |  |  | (57,111 | ) |  | — |  |  | 241,535 |
Cash and equivalents at beginning of period | — |  |  | 638,602 |  |  | 115,559 |  |  | — |  |  | 754,161 |
Cash and equivalents at end of period | $ | — |  |  | $ | 937,248 |  |  | $ | 58,448 |  |  | $ | — |  |  | $ | 995,696 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2015 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 87,624 |  |  | $ | (203,566 | ) |  | $ | 90,545 |  |  | $ | — |  |  | $ | (25,397 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (13,489 | ) |  | (1,028 | ) |  | — |  |  | (14,517 | )
Other investing activities, net | 3,710 |  |  | 5 |  |  | 917 |  |  | — |  |  | 4,632 |
Net cash provided by (used in) investing activities | 3,710 |  |  | (13,484 | ) |  | (111 | ) |  | — |  |  | (9,885 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (72,678 | ) |  | — |  |  | (72,678 | )
Stock option exercises | 6,596 |  |  | — |  |  | — |  |  | — |  |  | 6,596 |
Share repurchases | (107,955 | ) |  | — |  |  | — |  |  | — |  |  | (107,955 | )
Dividends paid | (29,616 | ) |  | — |  |  | — |  |  | — |  |  | (29,616 | )
Intercompany activities, net | 32,187 |  |  | 56,487 |  |  | (88,674 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (98,788 | ) |  | 56,487 |  |  | (161,352 | ) |  | — |  |  | (203,653 | )
Net increase (decrease) in cash and equivalents | (7,454 | ) |  | (160,563 | ) |  | (70,918 | ) |  | — |  |  | (238,935 | )
Cash and equivalents at beginning of period | 7,454 |  |  | 1,157,307 |  |  | 128,101 |  |  | — |  |  | 1,292,862 |
Cash and equivalents at end of period | $ | — |  |  | $ | 996,744 |  |  | $ | 57,183 |  |  | $ | — |  |  | $ | 1,053,927 |

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