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Supplemental Guarantor Information (Tables) | 6 Months Ended
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Jun. 30, 2018
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2018 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 318,811 |  |  | $ | 48,280 |  |  | $ | — |  |  | $ | 367,091 |
Restricted cash | — |  |  | 33,634 |  |  | 1,190 |  |  | — |  |  | 34,824 |
Total cash, cash equivalents, and restricted cash | — |  |  | 352,445 |  |  | 49,470 |  |  | — |  |  | 401,915 |
House and land inventory | — |  |  | 7,402,692 |  |  | 96,973 |  |  | — |  |  | 7,499,665 |
Land held for sale | — |  |  | 77,941 |  |  | — |  |  | — |  |  | 77,941 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 369,634 |  |  | — |  |  | 369,634 |
Investments in unconsolidated entities | — |  |  | 61,182 |  |  | 536 |  |  | — |  |  | 61,718 |
Other assets | 17,108 |  |  | 576,371 |  |  | 165,751 |  |  | — |  |  | 759,230 |
Intangible assets | — |  |  | 134,092 |  |  | — |  |  | — |  |  | 134,092 |
Deferred tax assets, net | 519,188 |  |  | — |  |  | (7,807 | ) |  | — |  |  | 511,381 |
Investments in subsidiaries and intercompany accounts, net | 7,084,815 |  |  | 288,223 |  |  | 7,967,379 |  |  | (15,340,417 | ) |  | — |
| $ | 7,621,111 |  |  | $ | 8,892,946 |  |  | $ | 8,641,936 |  |  | $ | (15,340,417 | ) |  | $ | 9,815,576 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 85,067 |  |  | $ | 1,661,695 |  |  | $ | 249,885 |  |  | $ | — |  |  | $ | 1,996,647 |
Income tax liabilities | 22,484 |  |  | — |  |  | — |  |  | — |  |  | 22,484 |
Financial Services debt | — |  |  | — |  |  | 264,043 |  |  | — |  |  | 264,043 |
Notes payable | 2,986,848 |  |  | 17,962 |  |  | 880 |  |  | — |  |  | 3,005,690 |
Total liabilities | 3,094,399 |  |  | 1,679,657 |  |  | 514,808 |  |  | — |  |  | 5,288,864 |
Total shareholders’ equity | 4,526,712 |  |  | 7,213,289 |  |  | 8,127,128 |  |  | (15,340,417 | ) |  | 4,526,712 |
| $ | 7,621,111 |  |  | $ | 8,892,946 |  |  | $ | 8,641,936 |  |  | $ | (15,340,417 | ) |  | $ | 9,815,576 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2017 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 125,462 |  |  | $ | 147,221 |  |  | $ | — |  |  | $ | 272,683 |
Restricted cash | — |  |  | 32,339 |  |  | 1,146 |  |  | — |  |  | 33,485 |
Total cash, cash equivalents, and restricted cash | — |  |  | 157,801 |  |  | 148,367 |  |  | — |  |  | 306,168 |
House and land inventory | — |  |  | 7,053,087 |  |  | 94,043 |  |  | — |  |  | 7,147,130 |
Land held for sale | — |  |  | 68,384 |  |  | — |  |  | — |  |  | 68,384 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 570,600 |  |  | — |  |  | 570,600 |
Investments in unconsolidated entities | — |  |  | 62,415 |  |  | 542 |  |  | — |  |  | 62,957 |
Other assets | 9,417 |  |  | 592,045 |  |  | 143,661 |  |  | — |  |  | 745,123 |
Intangible assets | — |  |  | 140,992 |  |  | — |  |  | — |  |  | 140,992 |
Deferred tax assets, net | 646,227 |  |  | — |  |  | (932 | ) |  | — |  |  | 645,295 |
Investments in subsidiaries and intercompany accounts, net | 6,661,638 |  |  | 284,983 |  |  | 7,300,127 |  |  | (14,246,748 | ) |  | — |
| $ | 7,317,282 |  |  | $ | 8,359,707 |  |  | $ | 8,256,408 |  |  | $ | (14,246,748 | ) |  | $ | 9,686,649 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 89,388 |  |  | $ | 1,636,913 |  |  | $ | 274,626 |  |  | $ | — |  |  | $ | 2,000,927 |
Income tax liabilities | 86,925 |  |  | — |  |  | — |  |  | — |  |  | 86,925 |
Financial Services debt | — |  |  | — |  |  | 437,804 |  |  | — |  |  | 437,804 |
Notes payable | 2,986,943 |  |  | 16,911 |  |  | 3,113 |  |  | — |  |  | 3,006,967 |
Total liabilities | 3,163,256 |  |  | 1,653,824 |  |  | 715,543 |  |  | — |  |  | 5,532,623 |
Total shareholders’ equity | 4,154,026 |  |  | 6,705,883 |  |  | 7,540,865 |  |  | (14,246,748 | ) |  | 4,154,026 |
| $ | 7,317,282 |  |  | $ | 8,359,707 |  |  | $ | 8,256,408 |  |  | $ | (14,246,748 | ) |  | $ | 9,686,649 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended June 30, 2018 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 2,421,643 |  |  | $ | 28,411 |  |  | $ | — |  |  | $ | 2,450,054 |
Land sale and other revenues | — |  |  | 66,418 |  |  | 486 |  |  | — |  |  | 66,904 |
| — |  |  | 2,488,061 |  |  | 28,897 |  |  | — |  |  | 2,516,958 |
Financial Services | — |  |  | — |  |  | 52,764 |  |  | — |  |  | 52,764 |
| — |  |  | 2,488,061 |  |  | 81,661 |  |  | — |  |  | 2,569,722 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,840,487 | ) |  | (21,646 | ) |  | — |  |  | (1,862,133 | )
Land sale cost of revenues | — |  |  | (37,884 | ) |  | (299 | ) |  | — |  |  | (38,183 | )
| — |  |  | (1,878,371 | ) |  | (21,945 | ) |  | — |  |  | (1,900,316 | )
Financial Services expenses | — |  |  | (133 | ) |  | (32,091 | ) |  | — |  |  | (32,224 | )
Selling, general, and administrative expenses | — |  |  | (221,590 | ) |  | (4,466 | ) |  | — |  |  | (226,056 | )
Other expense, net | (196 | ) |  | (13,436 | ) |  | 11,676 |  |  | — |  |  | (1,956 | )
Intercompany interest | (2,085 | ) |  | — |  |  | 2,085 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (2,281 | ) |  | 374,531 |  |  | 36,920 |  |  | — |  |  | 409,170 |
Income tax (expense) benefit | 547 |  |  | (75,977 | ) |  | (9,651 | ) |  | — |  |  | (85,081 | )
Income (loss) before equity in income (loss) of subsidiaries | (1,734 | ) |  | 298,554 |  |  | 27,269 |  |  | — |  |  | 324,089 |
Equity in income (loss) of subsidiaries | 325,823 |  |  | 24,504 |  |  | 258,352 |  |  | (608,679 | ) |  | — |
Net income (loss) | 324,089 |  |  | 323,058 |  |  | 285,621 |  |  | (608,679 | ) |  | 324,089 |
Other comprehensive income | 30 |  |  | — |  |  | — |  |  | — |  |  | 30 |
Comprehensive income (loss) | $ | 324,119 |  |  | $ | 323,058 |  |  | $ | 285,621 |  |  | $ | (608,679 | ) |  | $ | 324,119 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended June 30, 2017 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,945,312 |  |  | $ | 20,329 |  |  | $ | — |  |  | $ | 1,965,641 |
Land sale and other revenues | — |  |  | 7,399 |  |  | 1,545 |  |  | — |  |  | 8,944 |
| — |  |  | 1,952,711 |  |  | 21,874 |  |  | — |  |  | 1,974,585 |
Financial Services | — |  |  | — |  |  | 47,275 |  |  | — |  |  | 47,275 |
| — |  |  | 1,952,711 |  |  | 69,149 |  |  | — |  |  | 2,021,860 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,533,402 | ) |  | (16,535 | ) |  | — |  |  | (1,549,937 | )
Land sale cost of revenues | — |  |  | (86,408 | ) |  | (1,191 | ) |  | — |  |  | (87,599 | )
| — |  |  | (1,619,810 | ) |  | (17,726 | ) |  | — |  |  | (1,637,536 | )
Financial Services expenses | — |  |  | (124 | ) |  | (28,354 | ) |  | — |  |  | (28,478 | )
Selling, general, and administrative expenses | — |  |  | (210,110 | ) |  | (6,101 | ) |  | — |  |  | (216,211 | )
Other expense, net | (129 | ) |  | (23,877 | ) |  | 6,918 |  |  | — |  |  | (17,088 | )
Intercompany interest | (544 | ) |  | — |  |  | 544 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (673 | ) |  | 98,790 |  |  | 24,430 |  |  | — |  |  | 122,547 |
Income tax (expense) benefit | 256 |  |  | (12,733 | ) |  | (9,321 | ) |  | — |  |  | (21,798 | )
Income (loss) before equity in income (loss) of subsidiaries | (417 | ) |  | 86,057 |  |  | 15,109 |  |  | — |  |  | 100,749 |
Equity in income (loss) of subsidiaries | 101,166 |  |  | 11,013 |  |  | 45,621 |  |  | (157,800 | ) |  | — |
Net income (loss) | 100,749 |  |  | 97,070 |  |  | 60,730 |  |  | (157,800 | ) |  | 100,749 |
Other comprehensive income | 20 |  |  | — |  |  | — |  |  | — |  |  | 20 |
Comprehensive income (loss) | $ | 100,769 |  |  | $ | 97,070 |  |  | $ | 60,730 |  |  | $ | (157,800 | ) |  | $ | 100,769 |
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2018 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 259,028 |  |  | $ | 63,775 |  |  | $ | 224,779 |  |  | $ | — |  |  | $ | 547,582 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (28,908 | ) |  | (4,151 | ) |  | — |  |  | (33,059 | )
Investments in unconsolidated entities | — |  |  | (1,000 | ) |  | — |  |  | — |  |  | (1,000 | )
Other investing activities, net | — |  |  | 5,759 |  |  | 1,156 |  |  | — |  |  | 6,915 |
Net cash provided by (used in) investing activities | — |  |  | (24,149 | ) |  | (2,995 | ) |  | — |  |  | (27,144 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (173,761 | ) |  | — |  |  | (173,761 | )
Repayments of debt | — |  |  | (81,758 | ) |  | (674 | ) |  | — |  |  | (82,432 | )
Borrowings under revolving credit facility | 1,566,000 |  |  | — |  |  | — |  |  | — |  |  | 1,566,000 |
Repayments under revolving credit facility | (1,566,000 | ) |  | — |  |  | — |  |  | — |  |  | (1,566,000 | )
Debt issuance costs | (8,090 | ) |  | — |  |  | — |  |  | — |  |  | (8,090 | )
Stock option exercises | 4,467 |  |  | — |  |  | — |  |  | — |  |  | 4,467 |
Share repurchases | (112,491 | ) |  | — |  |  | — |  |  | — |  |  | (112,491 | )
Dividends paid | (52,384 | ) |  | — |  |  | — |  |  | — |  |  | (52,384 | )
Intercompany activities, net | (90,530 | ) |  | 236,776 |  |  | (146,246 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (259,028 | ) |  | 155,018 |  |  | (320,681 | ) |  | — |  |  | (424,691 | )
Net increase (decrease) | — |  |  | 194,644 |  |  | (98,897 | ) |  | — |  |  | 95,747 |
Cash, cash equivalents, and restricted cash at beginning of year | — |  |  | 157,801 |  |  | 148,367 |  |  | — |  |  | 306,168 |
Cash, cash equivalents, and restricted cash at end of year | $ | — |  |  | $ | 352,445 |  |  | $ | 49,470 |  |  | $ | — |  |  | $ | 401,915 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 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 | $ | 58,415 |  |  | $ | (29,931 | ) |  | $ | 147,842 |  |  | $ | — |  |  | $ | 176,326 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (14,346 | ) |  | (2,546 | ) |  | — |  |  | (16,892 | )
Investments in unconsolidated entities | — |  |  | (17,832 | ) |  | — |  |  | — |  |  | (17,832 | )
Other investing activities, net | — |  |  | 2,874 |  |  | 269 |  |  | — |  |  | 3,143 |
Net cash provided by (used in) investing activities | — |  |  | (29,304 | ) |  | (2,277 | ) |  | — |  |  | (31,581 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments) | — |  |  | — |  |  | (177,918 | ) |  | — |  |  | (177,918 | )
Repayments of debt | — |  |  | (1,382 | ) |  | (771 | ) |  | — |  |  | (2,153 | )
Borrowings under revolving credit facility | 110,000 |  |  | — |  |  | — |  |  | — |  |  | 110,000 |
Repayments under revolving credit facility | (110,000 | ) |  | — |  |  | — |  |  | — |  |  | (110,000 | )
Stock option exercises | 15,966 |  |  | — |  |  | — |  |  | — |  |  | 15,966 |
Share repurchases | (405,819 | ) |  | — |  |  | — |  |  | — |  |  | (405,819 | )
Dividends paid | (58,214 | ) |  | — |  |  | — |  |  | — |  |  | (58,214 | )
Intercompany activities, net | 389,652 |  |  | (360,529 | ) |  | (29,123 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (58,415 | ) |  | (361,911 | ) |  | (207,812 | ) |  | — |  |  | (628,138 | )
Net increase (decrease) | — |  |  | (421,146 | ) |  | (62,247 | ) |  | — |  |  | (483,393 | )
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 | $ | — |  |  | $ | 190,039 |  |  | $ | 49,816 |  |  | $ | — |  |  | $ | 239,855 |

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