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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2017
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2017 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 327,047 |  |  | $ | 70,711 |  |  | $ | — |  |  | $ | 397,758 |
Restricted cash | — |  |  | 25,055 |  |  | 1,050 |  |  | — |  |  | 26,105 |
Total cash, cash equivalents, and restricted cash | — |  |  | 352,102 |  |  | 71,761 |  |  | — |  |  | 423,863 |
House and land inventory | — |  |  | 6,955,235 |  |  | 73,100 |  |  | — |  |  | 7,028,335 |
Land held for sale | — |  |  | 48,053 |  |  | 510 |  |  | — |  |  | 48,563 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 345,379 |  |  | — |  |  | 345,379 |
Investments in unconsolidated entities | 112 |  |  | 59,803 |  |  | 5,378 |  |  | — |  |  | 65,293 |
Other assets | 11,509 |  |  | 697,869 |  |  | 120,247 |  |  | — |  |  | 829,625 |
Intangible assets | — |  |  | 151,342 |  |  | — |  |  | — |  |  | 151,342 |
Deferred tax assets, net | 1,030,351 |  |  | — |  |  | (1,937 | ) |  | — |  |  | 1,028,414 |
Investments in subsidiaries and intercompany accounts, net | 6,849,655 |  |  | (331,013 | ) |  | 6,991,618 |  |  | (13,510,260 | ) |  | — |
| $ | 7,891,627 |  |  | $ | 7,933,391 |  |  | $ | 7,606,056 |  |  | $ | (13,510,260 | ) |  | $ | 9,920,814 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 79,537 |  |  | $ | 1,703,179 |  |  | $ | 185,627 |  |  | $ | — |  |  | $ | 1,968,343 |
Income tax liabilities | 41,941 |  |  | — |  |  | — |  |  | — |  |  | 41,941 |
Financial Services debt | — |  |  | — |  |  | 140,381 |  |  | — |  |  | 140,381 |
Senior notes | 3,110,004 |  |  | — |  |  | — |  |  | — |  |  | 3,110,004 |
Total liabilities | 3,231,482 |  |  | 1,703,179 |  |  | 326,008 |  |  | — |  |  | 5,260,669 |
Total shareholders’ equity | 4,660,145 |  |  | 6,230,212 |  |  | 7,280,048 |  |  | (13,510,260 | ) |  | 4,660,145 |
| $ | 7,891,627 |  |  | $ | 7,933,391 |  |  | $ | 7,606,056 |  |  | $ | (13,510,260 | ) |  | $ | 9,920,814 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2016 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 588,353 |  |  | $ | 110,529 |  |  | $ | — |  |  | $ | 698,882 |
Restricted cash | — |  |  | 22,832 |  |  | 1,534 |  |  | — |  |  | 24,366 |
Total cash, cash equivalents, and restricted cash | — |  |  | 611,185 |  |  | 112,063 |  |  | — |  |  | 723,248 |
House and land inventory | — |  |  | 6,707,392 |  |  | 63,263 |  |  | — |  |  | 6,770,655 |
Land held for sale | — |  |  | 31,218 |  |  | 510 |  |  | — |  |  | 31,728 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 539,496 |  |  | — |  |  | 539,496 |
Investments in unconsolidated entities | 105 |  |  | 46,248 |  |  | 5,094 |  |  | — |  |  | 51,447 |
Other assets | 12,364 |  |  | 716,923 |  |  | 128,139 |  |  | — |  |  | 857,426 |
Intangible assets | — |  |  | 154,792 |  |  | — |  |  | — |  |  | 154,792 |
Deferred tax assets, net | 1,051,351 |  |  | — |  |  | (1,943 | ) |  | — |  |  | 1,049,408 |
Investments in subsidiaries and intercompany accounts, net | 6,835,075 |  |  | (376,748 | ) |  | 6,845,781 |  |  | (13,304,108 | ) |  | — |
| $ | 7,898,895 |  |  | $ | 7,891,010 |  |  | $ | 7,692,403 |  |  | $ | (13,304,108 | ) |  | $ | 10,178,200 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 94,656 |  |  | $ | 1,755,756 |  |  | $ | 191,928 |  |  | $ | — |  |  | $ | 2,042,340 |
Income tax liabilities | 34,860 |  |  | — |  |  | — |  |  | — |  |  | 34,860 |
Financial Services debt | — |  |  | — |  |  | 331,621 |  |  | — |  |  | 331,621 |
Senior notes | 3,110,016 |  |  | — |  |  | — |  |  | — |  |  | 3,110,016 |
Total liabilities | 3,239,532 |  |  | 1,755,756 |  |  | 523,549 |  |  | — |  |  | 5,518,837 |
Total shareholders’ equity | 4,659,363 |  |  | 6,135,254 |  |  | 7,168,854 |  |  | (13,304,108 | ) |  | 4,659,363 |
| $ | 7,898,895 |  |  | $ | 7,891,010 |  |  | $ | 7,692,403 |  |  | $ | (13,304,108 | ) |  | $ | 10,178,200 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2017 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,576,645 |  |  | $ | 8,776 |  |  | $ | — |  |  | $ | 1,585,421 |
Land sale revenues | — |  |  | 867 |  |  | 773 |  |  | — |  |  | 1,640 |
| — |  |  | 1,577,512 |  |  | 9,549 |  |  | — |  |  | 1,587,061 |
Financial Services | — |  |  | — |  |  | 41,767 |  |  | — |  |  | 41,767 |
| — |  |  | 1,577,512 |  |  | 51,316 |  |  | — |  |  | 1,628,828 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,209,640 | ) |  | (8,038 | ) |  | — |  |  | (1,217,678 | )
Land sale cost of revenues | — |  |  | (2,595 | ) |  | (633 | ) |  | — |  |  | (3,228 | )
| — |  |  | (1,212,235 | ) |  | (8,671 | ) |  | — |  |  | (1,220,906 | )
Financial Services expenses | — |  |  | (139 | ) |  | (28,228 | ) |  | — |  |  | (28,367 | )
Selling, general, and administrative expenses | — |  |  | (217,975 | ) |  | (18,293 | ) |  | — |  |  | (236,268 | )
Other expense, net | (130 | ) |  | (11,843 | ) |  | 7,951 |  |  | — |  |  | (4,022 | )
Intercompany interest | (335 | ) |  | — |  |  | 335 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (465 | ) |  | 135,320 |  |  | 4,410 |  |  | — |  |  | 139,265 |
Income tax (expense) benefit | 177 |  |  | (45,925 | ) |  | (1,999 | ) |  | — |  |  | (47,747 | )
Income (loss) before equity in income (loss) of subsidiaries | (288 | ) |  | 89,395 |  |  | 2,411 |  |  | — |  |  | 91,518 |
Equity in income (loss) of subsidiaries | 91,806 |  |  | 7,253 |  |  | 37,309 |  |  | (136,368 | ) |  | — |
Net income (loss) | 91,518 |  |  | 96,648 |  |  | 39,720 |  |  | (136,368 | ) |  | 91,518 |
Other comprehensive income | 21 |  |  | — |  |  | — |  |  | — |  |  | 21 |
Comprehensive income (loss) | $ | 91,539 |  |  | $ | 96,648 |  |  | $ | 39,720 |  |  | $ | (136,368 | ) |  | $ | 91,539 |
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 | — |  |  | (1,035,864 | ) |  | (2,164 | ) |  | — |  |  | (1,038,028 | )
Land sale cost of revenues | — |  |  | (1,643 | ) |  | (385 | ) |  | — |  |  | (2,028 | )
| — |  |  | (1,037,507 | ) |  | (2,549 | ) |  | — |  |  | (1,040,056 | )
Financial Services expenses | — |  |  | (123 | ) |  | (25,996 | ) |  | — |  |  | (26,119 | )
Selling, general, and administrative expenses | — |  |  | (238,882 | ) |  | (3,434 | ) |  | — |  |  | (242,316 | )
Other expense, 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 Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2017 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | (141,566 | ) |  | $ | (8,041 | ) |  | $ | 189,410 |  |  | $ | — |  |  | $ | 39,803 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (8,442 | ) |  | (1,554 | ) |  | — |  |  | (9,996 | )
Investment in unconsolidated subsidiaries | — |  |  | (14,802 | ) |  | — |  |  | — |  |  | (14,802 | )
Other investing activities, net | — |  |  | 2 |  |  | 1,421 |  |  | — |  |  | 1,423 |
Net cash provided by (used in) investing activities | — |  |  | (23,242 | ) |  | (133 | ) |  | — |  |  | (23,375 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (191,240 | ) |  | — |  |  | (191,240 | )
Proceeds from debt issuance | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repayments of debt | — |  |  | (741 | ) |  | (326 | ) |  | — |  |  | (1,067 | )
Borrowings under revolving credit facility | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repayments under revolving credit facility | — |  |  | — |  |  | — |  |  | — |  |  | — |
Stock option exercises | 11,118 |  |  | — |  |  | — |  |  | — |  |  | 11,118 |
Share repurchases | (105,522 | ) |  | — |  |  | — |  |  | — |  |  | (105,522 | )
Dividends paid | (29,102 | ) |  | — |  |  | — |  |  | — |  |  | (29,102 | )
Intercompany activities, net | 265,072 |  |  | (227,059 | ) |  | (38,013 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | 141,566 |  |  | (227,800 | ) |  | (229,579 | ) |  | — |  |  | (315,813 | )
Net increase (decrease) | — |  |  | (259,083 | ) |  | (40,302 | ) |  | — |  |  | (299,385 | )
Cash, cash equivalents, and restricted cash at beginning of year | — |  |  | 611,185 |  |  | 112,063 |  |  | — |  |  | 723,248 |
Cash, cash equivalents, and restricted cash at end of year | $ | — |  |  | $ | 352,102 |  |  | $ | 71,761 |  |  | $ | — |  |  | $ | 423,863 |
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 |  |  | $ | (254,849 | ) |  | $ | 150,874 |  |  | $ | — |  |  | $ | (62,917 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (8,918 | ) |  | (542 | ) |  | — |  |  | (9,460 | )
Cash used for business acquisition | — |  |  | (430,011 | ) |  | — |  |  | — |  |  | (430,011 | )
Investment in unconsolidated subsidiaries | (3 | ) |  | (13,531 | ) |  | — |  |  | — |  |  | (13,534 | )
Other investing activities, net | — |  |  | 800 |  |  | 453 |  |  | — |  |  | 1,253 |
Net cash provided by (used in) investing activities | (3 | ) |  | (451,660 | ) |  | (89 | ) |  | — |  |  | (451,752 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (149,263 | ) |  | — |  |  | (149,263 | )
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 | )
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) | — |  |  | 299,791 |  |  | (57,111 | ) |  | — |  |  | 242,680 |
Cash, cash equivalents, and restricted cash at beginning of year | — |  |  | 658,876 |  |  | 116,559 |  |  | — |  |  | 775,435 |
Cash, cash equivalents, and restricted cash at end of year | $ | — |  |  | $ | 958,667 |  |  | $ | 59,448 |  |  | $ | — |  |  | $ | 1,018,115 |

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