XML 49 R34.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Quarterly Results (Unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information | UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data)
| 1st Quarter |  | 2nd Quarter |  | 3rd Quarter |  | 4th Quarter |  | Total (a)
2016 |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | 1,396,730 |  |  | $ | 1,756,832 |  |  | $ | 1,894,885 |  |  | $ | 2,438,903 |  |  | $ | 7,487,350 |
Cost of revenues | (1,040,056 | ) |  | (1,314,972 | ) |  | (1,429,133 | ) |  | (1,835,928 | ) |  | (5,620,089 | )
Income before income taxes (b) | 108,433 |  |  | 172,546 |  |  | 191,063 |  |  | 388,724 |  |  | 860,766 |
Financial Services: |  |  |  |  |  |  |  |  |
Revenues | $ | 35,848 |  |  | $ | 43,082 |  |  | $ | 48,020 |  |  | $ | 54,175 |  |  | $ | 181,126 |
Income before income taxes | 9,780 |  |  | 17,034 |  |  | 21,272 |  |  | 24,997 |  |  | 73,084 |
Consolidated results: |  |  |  |  |  |  |  |  |
Revenues | $ | 1,432,578 |  |  | $ | 1,799,914 |  |  | $ | 1,942,905 |  |  | $ | 2,493,078 |  |  | $ | 7,668,476 |
Income before income taxes | 118,213 |  |  | 189,580 |  |  | 212,335 |  |  | 413,721 |  |  | 933,850 |
Income tax expense | (34,913 | ) |  | (71,820 | ) |  | (83,865 | ) |  | (140,549 | ) |  | (331,147 | )
Net income | $ | 83,300 |  |  | $ | 117,760 |  |  | $ | 128,470 |  |  | $ | 273,172 |  |  | $ | 602,703 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic | $ | 0.24 |  |  | $ | 0.34 |  |  | $ | 0.37 |  |  | $ | 0.83 |  |  | $ | 1.76 |
Diluted | $ | 0.24 |  |  | $ | 0.34 |  |  | $ | 0.37 |  |  | $ | 0.83 |  |  | $ | 1.75 |
Number of shares used in calculation: |  |  |  |  |  |  |  |  |
Basic | 347,815 |  |  | 345,240 |  |  | 340,171 |  |  | 325,975 |  |  | 339,747 |
Effect of dilutive securities | 2,662 |  |  | 2,759 |  |  | 2,250 |  |  | 1,834 |  |  | 2,376 |
Diluted | 350,477 |  |  | 347,999 |  |  | 342,421 |  |  | 327,809 |  |  | 342,123 |
(a) | Due to rounding, the sum of quarterly results may not equal the total for the year. Additionally, quarterly and year-to-date computations of per share amounts are made independently.
(b) | Homebuilding income before income taxes includes a charge of $15.0 million in the 3rd Quarter related to the settlement of a disputed land transaction (see Note 12) and an adjustment to general liability insurance reserves relating to a reserve reversal of $55.2 million in the 4th Quarter.
UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data)
| 1st Quarter |  | 2nd Quarter |  | 3rd Quarter |  | 4th Quarter |  | Total (a)
2015 |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | 1,105,700 |  |  | $ | 1,249,537 |  |  | $ | 1,467,780 |  |  | $ | 2,018,194 |  |  | $ | 5,841,211 |
Cost of revenues | (816,368 | ) |  | (915,151 | ) |  | (1,070,231 | ) |  | (1,470,053 | ) |  | (4,271,803 | )
Income before income taxes (b) | 90,748 |  |  | 157,640 |  |  | 164,911 |  |  | 344,019 |  |  | 757,317 |
Financial Services: |  |  |  |  |  |  |  |  |
Revenues | $ | 27,598 |  |  | $ | 30,754 |  |  | $ | 38,967 |  |  | $ | 43,434 |  |  | $ | 140,753 |
Income before income taxes (c) | 5,057 |  |  | 9,987 |  |  | 14,365 |  |  | 29,296 |  |  | 58,706 |
Consolidated results: |  |  |  |  |  |  |  |  |
Revenues | $ | 1,133,298 |  |  | $ | 1,280,291 |  |  | $ | 1,506,747 |  |  | $ | 2,061,628 |  |  | $ | 5,981,964 |
Income before income taxes | 95,805 |  |  | 167,627 |  |  | 179,276 |  |  | 373,315 |  |  | 816,023 |
Income tax expense | (40,834 | ) |  | (64,303 | ) |  | (71,507 | ) |  | (145,288 | ) |  | (321,933 | )
Net income | $ | 54,971 |  |  | $ | 103,324 |  |  | $ | 107,769 |  |  | $ | 228,027 |  |  | $ | 494,090 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic | $ | 0.15 |  |  | $ | 0.28 |  |  | $ | 0.31 |  |  | $ | 0.65 |  |  | $ | 1.38 |
Diluted | $ | 0.15 |  |  | $ | 0.28 |  |  | $ | 0.30 |  |  | $ | 0.64 |  |  | $ | 1.36 |
Number of shares used in calculation: |  |  |  |  |  |  |  |  |
Basic | 366,748 |  |  | 361,009 |  |  | 350,147 |  |  | 348,699 |  |  | 356,576 |
Effect of dilutive securities | 3,362 |  |  | 3,232 |  |  | 3,225 |  |  | 3,047 |  |  | 3,217 |
Diluted | 370,110 |  |  | 364,241 |  |  | 353,372 |  |  | 351,746 |  |  | 359,793 |
(a) | Due to rounding, the sum of quarterly results may not equal the total for the year. Additionally, quarterly and year-to-date computations of per share amounts are made independently.
(b) | Homebuilding income before income taxes includes reserve reversals resulting from a legal settlement (see Note 12)of $26.9 million and $5.7 million in the 2nd and 3rd Quarters, respectively; a charge of $20.0 million in the 3rd Quarter related to the Applecross matter (see Note 12); and a reversal of $29.6 million relating to decreased general liability insurance reserves in the 4th Quarter.
(c) | Financial Services expenses in the 1st Quarter includes a reduction in loan origination liabilities totaling $11.4 million.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration