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Supplemental Guarantor Information | 9 Months Ended
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Sep. 30, 2019
Supplemental Guarantor Information [Abstract] |
Supplemental Guarantor information | Supplemental Guarantor information All of our senior notes are guaranteed jointly and severally on a senior basis by certain of our wholly-owned Homebuilding subsidiaries and certain other wholly-owned subsidiaries (collectively, the “Guarantors”). Such guaranties are full and unconditional. Our subsidiaries comprising the Financial Services segment along with certain other subsidiaries (collectively, the "Non-Guarantor Subsidiaries") do not guarantee the senior notes. In accordance with Rule 3-10 of Regulation S-X, supplemental consolidating financial information of the Company, including such information for the Guarantors, is presented below. Investments in subsidiaries are presented using the equity method of accounting. CONDENSED CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2019 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 688,125 |  |  | $ | 48,861 |  |  | $ | — |  |  | $ | 736,986 |
Restricted cash | — |  |  | 29,685 |  |  | 1,973 |  |  | — |  |  | 31,658 |
Total cash, cash equivalents, and restricted cash | — |  |  | 717,810 |  |  | 50,834 |  |  | — |  |  | 768,644 |
House and land inventory | — |  |  | 7,718,786 |  |  | 111,273 |  |  | — |  |  | 7,830,059 |
Land held for sale | — |  |  | 34,001 |  |  | 494 |  |  | — |  |  | 34,495 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 383,893 |  |  | — |  |  | 383,893 |
Investments in unconsolidated entities | — |  |  | 61,639 |  |  | 543 |  |  | — |  |  | 62,182 |
Other assets | 12,918 |  |  | 662,912 |  |  | 189,016 |  |  | — |  |  | 864,846 |
Intangible assets | — |  |  | 128,592 |  |  | — |  |  |  |  |  | 128,592 |
Deferred tax assets, net | 199,875 |  |  | — |  |  | (8,073 | ) |  | — |  |  | 191,802 |
Investments in subsidiaries and intercompany accounts, net | 7,790,167 |  |  | 861,532 |  |  | 9,154,242 |  |  | (17,805,941 | ) |  | — |
| $ | 8,002,960 |  |  | $ | 10,185,272 |  |  | $ | 9,882,222 |  |  | $ | (17,805,941 | ) |  | $ | 10,264,513 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 71,221 |  |  | $ | 1,718,707 |  |  | $ | 260,828 |  |  | $ | — |  |  | $ | 2,050,756 |
Income tax liabilities | 38,624 |  |  | — |  |  | — |  |  | — |  |  | 38,624 |
Financial Services debt | — |  |  | — |  |  | 249,360 |  |  | — |  |  | 249,360 |
Notes payable | 2,711,523 |  |  | 32,658 |  |  | — |  |  | — |  |  | 2,744,181 |
Total liabilities | 2,821,368 |  |  | 1,751,365 |  |  | 510,188 |  |  | — |  |  | 5,082,921 |
Total shareholders’ equity | 5,181,592 |  |  | 8,433,907 |  |  | 9,372,034 |  |  | (17,805,941 | ) |  | 5,181,592 |
| $ | 8,002,960 |  |  | $ | 10,185,272 |  |  | $ | 9,882,222 |  |  | $ | (17,805,941 | ) |  | $ | 10,264,513 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2018 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 906,961 |  |  | $ | 203,127 |  |  | $ | — |  |  | $ | 1,110,088 |
Restricted cash | — |  |  | 22,406 |  |  | 1,206 |  |  | — |  |  | 23,612 |
Total cash, cash equivalents, and restricted cash | — |  |  | 929,367 |  |  | 204,333 |  |  | — |  |  | 1,133,700 |
House and land inventory | — |  |  | 7,157,665 |  |  | 95,688 |  |  | — |  |  | 7,253,353 |
Land held for sale | — |  |  | 36,849 |  |  | — |  |  | — |  |  | 36,849 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 461,354 |  |  | — |  |  | 461,354 |
Investments in unconsolidated entities | — |  |  | 54,045 |  |  | 545 |  |  | — |  |  | 54,590 |
Other assets | 66,154 |  |  | 579,452 |  |  | 184,753 |  |  | — |  |  | 830,359 |
Intangible assets | — |  |  | 127,192 |  |  | — |  |  | — |  |  | 127,192 |
Deferred tax assets, net | 282,874 |  |  | — |  |  | (7,295 | ) |  | — |  |  | 275,579 |
Investments in subsidiaries and intercompany accounts, net | 7,557,245 |  |  | 500,138 |  |  | 8,231,342 |  |  | (16,288,725 | ) |  | — |
| $ | 7,906,273 |  |  | $ | 9,384,708 |  |  | $ | 9,170,720 |  |  | $ | (16,288,725 | ) |  | $ | 10,172,976 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 90,158 |  |  | $ | 1,598,265 |  |  | $ | 278,713 |  |  | $ | — |  |  | $ | 1,967,136 |
Income tax liabilities | 11,580 |  |  | — |  |  | — |  |  | — |  |  | 11,580 |
Financial Services debt | — |  |  | — |  |  | 348,412 |  |  | — |  |  | 348,412 |
Notes payable | 2,986,753 |  |  | 40,776 |  |  | 537 |  |  | — |  |  | 3,028,066 |
Total liabilities | 3,088,491 |  |  | 1,639,041 |  |  | 627,662 |  |  | — |  |  | 5,355,194 |
Total shareholders’ equity | 4,817,782 |  |  | 7,745,667 |  |  | 8,543,058 |  |  | (16,288,725 | ) |  | 4,817,782 |
| $ | 7,906,273 |  |  | $ | 9,384,708 |  |  | $ | 9,170,720 |  |  | $ | (16,288,725 | ) |  | $ | 10,172,976 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2019 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 2,588,933 |  |  | $ | 48,069 |  |  | $ | — |  |  | $ | 2,637,002 |
Land sale and other revenues | — |  |  | 8,526 |  |  | 22 |  |  | — |  |  | 8,548 |
| — |  |  | 2,597,459 |  |  | 48,091 |  |  | — |  |  | 2,645,550 |
Financial Services | — |  |  | — |  |  | 64,815 |  |  | — |  |  | 64,815 |
| — |  |  | 2,597,459 |  |  | 112,906 |  |  | — |  |  | 2,710,365 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,992,043 | ) |  | (36,579 | ) |  | — |  |  | (2,028,622 | )
Land sale cost of revenues | — |  |  | (7,350 | ) |  | — |  |  | — |  |  | (7,350 | )
| — |  |  | (1,999,393 | ) |  | (36,579 | ) |  | — |  |  | (2,035,972 | )
Financial Services expenses | — |  |  | (133 | ) |  | (32,381 | ) |  | — |  |  | (32,514 | )
Selling, general, and administrative expenses | — |  |  | (252,414 | ) |  | (18,211 | ) |  | — |  |  | (270,625 | )
Other income (expense), net | (126 | ) |  | (15,697 | ) |  | 10,715 |  |  | — |  |  | (5,108 | )
Intercompany interest | (2,255 | ) |  | — |  |  | 2,255 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (2,381 | ) |  | 329,822 |  |  | 38,705 |  |  | — |  |  | 366,146 |
Income tax (expense) benefit | 688 |  |  | (83,937 | ) |  | (9,793 | ) |  | — |  |  | (93,042 | )
Income (loss) before equity in income (loss) of subsidiaries | (1,693 | ) |  | 245,885 |  |  | 28,912 |  |  | — |  |  | 273,104 |
Equity in income (loss) of subsidiaries | 274,797 |  |  | 34,672 |  |  | 371,107 |  |  | (680,576 | ) |  | — |
Net income (loss) | 273,104 |  |  | 280,557 |  |  | 400,019 |  |  | (680,576 | ) |  | 273,104 |
Other comprehensive income | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Comprehensive income (loss) | $ | 273,129 |  |  | $ | 280,557 |  |  | $ | 400,019 |  |  | $ | (680,576 | ) |  | $ | 273,129 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2018 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 2,535,930 |  |  | $ | 36,306 |  |  | $ | — |  |  | $ | 2,572,236 |
Land sale and other revenues | — |  |  | 25,266 |  |  | 244 |  |  | — |  |  | 25,510 |
| — |  |  | 2,561,196 |  |  | 36,550 |  |  | — |  |  | 2,597,746 |
Financial Services | — |  |  | — |  |  | 51,620 |  |  | — |  |  | 51,620 |
| — |  |  | 2,561,196 |  |  | 88,170 |  |  | — |  |  | 2,649,366 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,928,365 | ) |  | (25,795 | ) |  | — |  |  | (1,954,160 | )
Land sale cost of revenues | — |  |  | (22,060 | ) |  |  |  |  | — |  |  | (22,060 | )
| — |  |  | (1,950,425 | ) |  | (25,795 | ) |  | — |  |  | (1,976,220 | )
Financial Services expenses | — |  |  | (130 | ) |  | (32,083 | ) |  | — |  |  | (32,213 | )
Selling, general, and administrative expenses | — |  |  | (245,776 | ) |  | (6,981 | ) |  | — |  |  | (252,757 | )
Other income (expense), net | (120 | ) |  | (12,398 | ) |  | 9,030 |  |  | — |  |  | (3,488 | )
Intercompany interest | (2,158 | ) |  |  |  |  | 2,158 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (2,278 | ) |  | 352,467 |  |  | 34,499 |  |  | — |  |  | 384,688 |
Income tax (expense) benefit | 609 |  |  | (88,368 | ) |  | (7,394 | ) |  | — |  |  | (95,153 | )
Income (loss) before equity in income (loss) of subsidiaries | (1,669 | ) |  | 264,099 |  |  | 27,105 |  |  | — |  |  | 289,535 |
Equity in income (loss) of subsidiaries | 291,204 |  |  | 25,094 |  |  | 190,161 |  |  | (506,459 | ) |  | — |
Net income (loss) | 289,535 |  |  | 289,193 |  |  | 217,266 |  |  | (506,459 | ) |  | 289,535 |
Other comprehensive income | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Comprehensive income (loss) | $ | 289,560 |  |  | $ | 289,193 |  |  | $ | 217,266 |  |  | $ | (506,459 | ) |  | $ | 289,560 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2019 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 6,855,951 |  |  | $ | 134,466 |  |  | $ | — |  |  | $ | 6,990,417 |
Land sale revenues | — |  |  | 40,311 |  |  | 682 |  |  | — |  |  | 40,993 |
| — |  |  | 6,896,262 |  |  | 135,148 |  |  | — |  |  | 7,031,410 |
Financial Services | — |  |  | — |  |  | 164,634 |  |  | — |  |  | 164,634 |
| — |  |  | 6,896,262 |  |  | 299,782 |  |  | — |  |  | 7,196,044 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (5,267,638 | ) |  | (101,930 | ) |  | — |  |  | (5,369,568 | )
Land sale cost of revenues | — |  |  | (34,509 | ) |  | (1,106 | ) |  |  |  |  | (35,615 | )
| — |  |  | (5,302,147 | ) |  | (103,036 | ) |  | — |  |  | (5,405,183 | )
Financial Services expenses | — |  |  | (390 | ) |  | (94,474 | ) |  | — |  |  | (94,864 | )
Selling, general, and administrative expenses | — |  |  | (731,801 | ) |  | (50,990 | ) |  | — |  |  | (782,791 | )
Other expense, net | (5,213 | ) |  | (29,961 | ) |  | 25,593 |  |  | — |  |  | (9,581 | )
Intercompany interest | (6,506 | ) |  | — |  |  | 6,506 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (11,719 | ) |  | 831,963 |  |  | 83,381 |  |  | — |  |  | 903,625 |
Income tax (expense) benefit | 2,930 |  |  | (204,186 | ) |  | (21,467 | ) |  | — |  |  | (222,723 | )
Income (loss) before equity in income (loss) of subsidiaries | (8,789 | ) |  | 627,777 |  |  | 61,914 |  |  | — |  |  | 680,902 |
Equity in income (loss) of subsidiaries | 689,691 |  |  | 77,480 |  |  | 647,207 |  |  | (1,414,378 | ) |  | — |
Net income (loss) | 680,902 |  |  | 705,257 |  |  | 709,121 |  |  | (1,414,378 | ) |  | 680,902 |
Other comprehensive income | 75 |  |  | — |  |  | — |  |  | — |  |  | 75 |
Comprehensive income (loss) | $ | 680,977 |  |  | $ | 705,257 |  |  | $ | 709,121 |  |  | $ | (1,414,378 | ) |  | $ | 680,977 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2018 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 6,852,430 |  |  | $ | 81,458 |  |  | $ | — |  |  | $ | 6,933,888 |
Land sale revenues | — |  |  | 103,243 |  |  | 1,728 |  |  | — |  |  | 104,971 |
| — |  |  | 6,955,673 |  |  | 83,186 |  |  | — |  |  | 7,038,859 |
Financial Services | — |  |  | — |  |  | 150,322 |  |  | — |  |  | 150,322 |
| — |  |  | 6,955,673 |  |  | 233,508 |  |  | — |  |  | 7,189,181 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (5,214,408 | ) |  | (61,824 | ) |  | — |  |  | (5,276,232 | )
Land sale cost of revenues | — |  |  | (70,774 | ) |  | (1,017 | ) |  | — |  |  | (71,791 | )
| — |  |  | (5,285,182 | ) |  | (62,841 | ) |  | — |  |  | (5,348,023 | )
Financial Services expenses | — |  |  | (405 | ) |  | (96,245 | ) |  | — |  |  | (96,650 | )
Selling, general, and administrative expenses | — |  |  | (699,311 | ) |  | (20,395 | ) |  | — |  |  | (719,706 | )
Other expense, net | (458 | ) |  | (33,436 | ) |  | 27,141 |  |  | — |  |  | (6,753 | )
Intercompany interest | (5,710 | ) |  | — |  |  | 5,710 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (6,168 | ) |  | 937,339 |  |  | 86,878 |  |  | — |  |  | 1,018,049 |
Income tax (expense) benefit | 1,543 |  |  | (213,876 | ) |  | (21,341 | ) |  | — |  |  | (233,674 | )
Income (loss) before equity in income (loss) of subsidiaries | (4,625 | ) |  | 723,463 |  |  | 65,537 |  |  | — |  |  | 784,375 |
Equity in income (loss) of subsidiaries | 789,000 |  |  | 62,162 |  |  | 559,184 |  |  | (1,410,346 | ) |  | — |
Net income (loss) | 784,375 |  |  | 785,625 |  |  | 624,721 |  |  | (1,410,346 | ) |  | 784,375 |
Other comprehensive income | 75 |  |  | — |  |  | — |  |  | — |  |  | 75 |
Comprehensive income (loss) | $ | 784,450 |  |  | $ | 785,625 |  |  | $ | 624,721 |  |  | $ | (1,410,346 | ) |  | $ | 784,450 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2019 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 162,105 |  |  | $ | 304,142 |  |  | $ | 116,533 |  |  | $ | — |  |  | $ | 582,780 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (36,098 | ) |  | (7,064 | ) |  | — |  |  | (43,162 | )
Investments in unconsolidated entities | — |  |  | (7,807 | ) |  | (708 | ) |  | — |  |  | (8,515 | )
Other investing activities, net | — |  |  | 3,286 |  |  | 1,723 |  |  | — |  |  | 5,009 |
Business acquisition | — |  |  | (163,724 | ) |  | — |  |  | — |  |  | (163,724 | )
Net cash provided by (used in) investing activities | — |  |  | (204,343 | ) |  | (6,049 | ) |  | — |  |  | (210,392 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowing (repayments), net | — |  |  | — |  |  | (99,052 | ) |  | — |  |  | (99,052 | )
Repayments of debt | (280,175 | ) |  | (16,699 | ) |  | (537 | ) |  | — |  |  | (297,411 | )
Borrowings under revolving credit facility | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repayments under revolving credit facility | — |  |  | — |  |  | — |  |  | — |  |  | — |
Debt issuance costs | — |  |  | — |  |  | — |  |  | — |  |  | — |
Stock option exercises | 6,368 |  |  | — |  |  | — |  |  | — |  |  | 6,368 |
Share repurchases | (244,388 | ) |  | — |  |  | — |  |  | — |  |  | (244,388 | )
Cash paid for shares withheld for taxes | (10,726 | ) |  | — |  |  | — |  |  | — |  |  | (10,726 | )
Dividends paid | (92,235 | ) |  | 44,499 |  |  | (44,499 | ) |  | — |  |  | (92,235 | )
Intercompany activities, net | 459,051 |  |  | (339,156 | ) |  | (119,895 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (162,105 | ) |  | (311,356 | ) |  | (263,983 | ) |  | — |  |  | (737,444 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | (211,557 | ) |  | (153,499 | ) |  | — |  |  | (365,056 | )
Cash, cash equivalents, and restricted cash at beginning of year | — |  |  | 929,367 |  |  | 204,333 |  |  | — |  |  | 1,133,700 |
Cash, cash equivalents, and restricted cash at end of year | $ | — |  |  | $ | 717,810 |  |  | $ | 50,834 |  |  | $ | — |  |  | $ | 768,644 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 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 | $ | 347,335 |  |  | $ | 389,110 |  |  | $ | 278,535 |  |  | $ | — |  |  | $ | 1,014,980 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (40,483 | ) |  | (6,046 | ) |  | — |  |  | (46,529 | )
Investments in unconsolidated entities | — |  |  | (1,000 | ) |  | — |  |  | — |  |  | (1,000 | )
Other investing activities, net | — |  |  | 11,299 |  |  | 4,246 |  |  | — |  |  | 15,545 |
Business acquisition | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash provided by (used in) investing activities | — |  |  | (30,184 | ) |  | (1,800 | ) |  | — |  |  | (31,984 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments), net | — |  |  | — |  |  | (187,071 | ) |  | — |  |  | (187,071 | )
Repayments of debt | — |  |  | (81,757 | ) |  | (898 | ) |  | — |  |  | (82,655 | )
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 | (8,165 | ) |  | — |  |  | — |  |  | — |  |  | (8,165 | )
Stock option exercises | 5,462 |  |  | — |  |  | — |  |  | — |  |  | 5,462 |
Share repurchases | (172,061 | ) |  | — |  |  | — |  |  | — |  |  | (172,060 | )
Cash paid for shares withheld for taxes | (7,378 | ) |  | — |  |  | — |  |  | — |  |  | (7,379 | )
Dividends paid | (78,284 | ) |  | — |  |  | — |  |  | — |  |  | (78,284 | )
Intercompany activities, net | (86,909 | ) |  | 268,297 |  |  | (181,388 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (347,335 | ) |  | 186,540 |  |  | (369,357 | ) |  | — |  |  | (530,152 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | 545,466 |  |  | (92,622 | ) |  | — |  |  | 452,844 |
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 | $ | — |  |  | $ | 703,267 |  |  | $ | 55,745 |  |  | $ | — |  |  | $ | 759,012 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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