Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2016

Supplemental Guarantor Information [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

JUNE 30, 2016

($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	$	—	$	166,389		$	62,798	$	—		$	229,187
Restricted cash	—		25,001			1,483		—			26,484
House and land inventory	—		6,583,222			46,242		—			6,629,464
Land held for sale	—		85,271			510		—			85,781
Residential mortgage loans available- for-sale	—		—			364,004		—			364,004
Investments in unconsolidated entities	99		47,569			4,832		—			52,500
Other assets	22,145		533,458			125,565		—			681,168
Intangible assets	—		161,372			—		—			161,372
Deferred tax assets, net	1,274,468		—			2,628		—			1,277,096
Investments in subsidiaries and intercompany accounts, net	6,237,109		(264,227		)	6,614,233		(12,587,115		)	—
	$	7,533,821	$	7,338,055		$	7,222,295	$	(12,587,115	)	$	9,507,056
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	$	78,691	$	1,609,312		$	174,366	$	—		$	1,862,369
Income tax liabilities	33,980		—			—		—			33,980
Financial Services debt	—		—			189,557		—			189,557
Term loan	499,212		—			—		—			499,212
Senior notes	2,103,821		—			—		—			2,103,821
Total liabilities	2,715,704		1,609,312			363,923		—			4,688,939
Total shareholders’ equity	4,818,117		5,728,743			6,858,372		(12,587,115		)	4,818,117
	$	7,533,821	$	7,338,055		$	7,222,295	$	(12,587,115	)	$	9,507,056

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2015

($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	$	—	$	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 June 30, 2016

($000’s omitted)



	Unconsolidated											Consolidated PulteGroup, Inc.
	PulteGroup, Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated PulteGroup, Inc.
Revenues:
Homebuilding
Home sale revenues	$	—		$	1,746,484	$	5,398		$	—		$	1,751,882
Land sale revenues	—			3,893		1,057			—			4,950
	—			1,750,377		6,455			—			1,756,832
Financial Services	—			—		43,082			—			43,082
	—			1,750,377		49,537			—			1,799,914
Homebuilding Cost of Revenues:
Home sale cost of revenues	—			1,369,003		5,506			—			1,374,509
Land sale cost of revenues	—			3,505		898			—			4,403
	—			1,372,508		6,404			—			1,378,912
Financial Services expenses	—			137		26,043			—			26,180
Selling, general, and administrative expenses	—			184,515		7,818			—			192,333
Other expense (income), net	170			20,759		(8,020		)	—			12,909
Intercompany interest	490			2,035		(2,525		)	—			—
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(660		)	170,423		19,817			—			189,580
Income tax expense (benefit)	(246		)	64,415		7,651			—			71,820
Income (loss) before equity in income (loss) of subsidiaries	(414		)	106,008		12,166			—			117,760
Equity in income (loss) of subsidiaries	118,174			2,869		73,975			(195,018		)	—
Net income (loss)	117,760			108,877		86,141			(195,018		)	117,760
Other comprehensive income	20			—		—			—			20
Comprehensive income (loss)	$	117,780		$	108,877	$	86,141		$	(195,018	)	$	117,780

CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the three months ended June 30, 2015

($000’s omitted)



	Unconsolidated												Consolidated PulteGroup, Inc.
	PulteGroup, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated PulteGroup, Inc.
Revenues:
Homebuilding
Home sale revenues	$	—		$	1,243,077		$	—		$	—		$	1,243,077
Land sale revenues	—			6,460			—			—			6,460
	—			1,249,537			—			—			1,249,537
Financial Services	—			—			30,754			—			30,754
	—			1,249,537			30,754			—			1,280,291
Homebuilding Cost of Revenues:
Home sale cost of revenues	—			953,280			—			—			953,280
Land sale cost of revenues	—			5,312			—			—			5,312
	—			958,592			—			—			958,592
Financial Services expenses	101			(92		)	20,758			—			20,767
Selling, general, and administrative expenses	—			129,457			662			—			130,119
Other expense (income), net	198			3,139			(151		)	—			3,186
Intercompany interest	(6,781		)	9,269			(2,488		)	—			—
Income (loss) before income taxes and equity in income (loss) of subsidiaries	6,482			149,172			11,973			—			167,627
Income tax expense (benefit)	2,462			57,270			4,571			—			64,303
Income (loss) before equity in income (loss) of subsidiaries	4,020			91,902			7,402			—			103,324
Equity in income (loss) of subsidiaries	99,304			7,332			92,596			(199,232		)	—
Net income (loss)	103,324			99,234			99,998			(199,232		)	103,324
Other comprehensive income	21			—			—			—			21
Comprehensive income (loss)	$	103,345		$	99,234		$	99,998		$	(199,232	)	$	103,345

Consolidating Statement Of Cash Flows

CONSOLIDATING STATEMENT OF CASH FLOWS

For the six months ended June 30, 2016

($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	$	143,228		$	(548,580	)	$	80,036		$	—	$	(325,316	)
Cash flows from investing activities:
Capital expenditures	—			(19,736		)	(1,308		)	—		(21,044		)
Cash used for business acquisitions	—			(430,025		)	—			—		(430,025		)
Other investing activities, net	(6		)	(10,346		)	2,056			—		(8,296		)
Net cash provided by (used in) investing activities	(6		)	(460,107		)	748			—		(459,365		)
Cash flows from financing activities:
Proceeds from debt issuance	986,084			—			—			—		986,084
Repayments of debt	(465,245		)	(19,729		)	—			—		(484,974		)
Borrowings under revolving credit facility	358,000			—			—			—		358,000
Repayments under revolving credit facility	(358,000		)	—			—			—		(358,000		)
Financial Services borrowings (repayments)	—			—			(78,320		)	—		(78,320		)
Stock option exercises	742			—			—			—		742
Share repurchases	(100,806		)	—			—			—		(100,806		)
Dividends paid	(63,019		)	—			—			—		(63,019		)
Intercompany activities, net	(500,978		)	556,203			(55,225		)	—		—
Net cash provided by (used in) financing activities	(143,222		)	536,474			(133,545		)	—		259,707
Net increase (decrease) in cash and equivalents	—			(472,213		)	(52,761		)	—		(524,974		)
Cash and equivalents at beginning of period	—			638,602			115,559			—		754,161
Cash and equivalents at end of period	$	—		$	166,389		$	62,798		$	—	$	229,187

CONSOLIDATING STATEMENT OF CASH FLOWS

For the six months ended June 30, 2015

($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	$	65,947		$	(325,154	)	$	68,104		$	—	$	(191,103	)
Cash flows from investing activities:
Capital expenditures	—			(20,871		)	(2,244		)	—		(23,115		)
Other investing activities, net	3,710			1,031			9,909			—		14,650
Net cash provided by (used in) investing activities	3,710			(19,840		)	7,665			—		(8,465		)
Cash flows from financing activities:
Repayments of debt	(237,994		)	—			—			—		(237,994		)
Financial Services borrowings (repayments)	—			—			(20,970		)	—		(20,970		)
Stock option exercises	7,222			—			—			—		7,222
Share repurchases	(322,066		)	—			—			—		(322,066		)
Dividends paid	(59,125		)	—			—			—		(59,125		)
Intercompany activities, net	534,852			(408,588		)	(126,264		)	—		—
Net cash provided by (used in) financing activities	(77,111		)	(408,588		)	(147,234		)	—		(632,933		)
Net increase (decrease) in cash and equivalents	(7,454		)	(753,582		)	(71,465		)	—		(832,501		)
Cash and equivalents at beginning of period	7,454			1,157,307			128,101			—		1,292,862
Cash and equivalents at end of period	$	—		$	403,725		$	56,636		$	—	$	460,361