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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2020
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2020 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 1,752,047 |  |  | $ | 64,731 |  |  | $ | — |  |  | $ | 1,816,778 |
Restricted cash | — |  |  | 29,351 |  |  | 5,124 |  |  | — |  |  | 34,475 |
Total cash, cash equivalents, and restricted cash | — |  |  | 1,781,398 |  |  | 69,855 |  |  | — |  |  | 1,851,253 |
House and land inventory | — |  |  | 7,723,741 |  |  | 133,923 |  |  | — |  |  | 7,857,664 |
Land held for sale | — |  |  | 31,636 |  |  | — |  |  | — |  |  | 31,636 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 363,854 |  |  | — |  |  | 363,854 |
Investments in unconsolidated entities | — |  |  | 53,304 |  |  | 1,191 |  |  | — |  |  | 54,495 |
Other assets | 9,519 |  |  | 692,313 |  |  | 233,700 |  |  | — |  |  | 935,532 |
Intangible assets | — |  |  | 121,392 |  |  | 57,161 |  |  | — |  |  | 178,553 |
Deferred tax assets, net | 162,661 |  |  | — |  |  | (12,274 | ) |  | — |  |  | 150,387 |
Investments in subsidiaries and intercompany accounts, net | 8,914,412 |  |  | 260,346 |  |  | 9,707,683 |  |  | (18,882,441 | ) |  | — |
| $ | 9,086,592 |  |  | $ | 10,664,130 |  |  | $ | 10,555,093 |  |  | $ | (18,882,441 | ) |  | $ | 11,423,374 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 71,859 |  |  | $ | 1,749,600 |  |  | $ | 273,046 |  |  | $ | — |  |  | $ | 2,094,505 |
Income tax liabilities | 72,546 |  |  | — |  |  | — |  |  | — |  |  | 72,546 |
Financial Services debt | — |  |  | — |  |  | 270,000 |  |  | — |  |  | 270,000 |
Revolving credit facility | 700,000 |  |  | — |  |  | — |  |  | — |  |  | 700,000 |
Notes payable | 2,711,796 |  |  | 44,136 |  |  | — |  |  | — |  |  | 2,755,932 |
Total liabilities | 3,556,201 |  |  | 1,793,736 |  |  | 543,046 |  |  | — |  |  | 5,892,983 |
Total shareholders’ equity | 5,530,391 |  |  | 8,870,394 |  |  | 10,012,047 |  |  | (18,882,441 | ) |  | 5,530,391 |
| $ | 9,086,592 |  |  | $ | 10,664,130 |  |  | $ | 10,555,093 |  |  | $ | (18,882,441 | ) |  | $ | 11,423,374 |
CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2019 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 1,026,743 |  |  | $ | 191,170 |  |  | $ | — |  |  | $ | 1,217,913 |
Restricted cash | — |  |  | 31,328 |  |  | 2,215 |  |  | — |  |  | 33,543 |
Total cash, cash equivalents, and restricted cash | — |  |  | 1,058,071 |  |  | 193,385 |  |  | — |  |  | 1,251,456 |
House and land inventory | — |  |  | 7,554,662 |  |  | 125,952 |  |  | — |  |  | 7,680,614 |
Land held for sale | — |  |  | 24,009 |  |  | — |  |  | — |  |  | 24,009 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 508,967 |  |  | — |  |  | 508,967 |
Investments in unconsolidated entities | — |  |  | 59,266 |  |  | 500 |  |  | — |  |  | 59,766 |
Other assets | 8,172 |  |  | 688,996 |  |  | 198,518 |  |  |  |  |  | 895,686 |
Intangible assets | — |  |  | 124,992 |  |  | — |  |  | — |  |  | 124,992 |
Deferred tax assets, net | 182,461 |  |  | — |  |  | (12,354 | ) |  | — |  |  | 170,107 |
Investments in subsidiaries and intercompany accounts, net | 8,103,191 |  |  | 1,081,472 |  |  | 9,279,403 |  |  | (18,464,066 | ) |  | — |
| $ | 8,293,824 |  |  | $ | 10,591,468 |  |  | $ | 10,294,371 |  |  | $ | (18,464,066 | ) |  | $ | 10,715,597 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 87,892 |  |  | $ | 1,781,893 |  |  | $ | 259,926 |  |  | $ | — |  |  | $ | 2,129,711 |
Income tax liabilities | 36,093 |  |  | — |  |  | — |  |  | — |  |  | 36,093 |
Financial Services debt | — |  |  | — |  |  | 326,573 |  |  | — |  |  | 326,573 |
Notes payable | 2,711,659 |  |  | 53,381 |  |  | — |  |  | — |  |  | 2,765,040 |
Total liabilities | 2,835,644 |  |  | 1,835,274 |  |  | 586,499 |  |  | — |  |  | 5,257,417 |
Total shareholders’ equity | 5,458,180 |  |  | 8,756,194 |  |  | 9,707,872 |  |  | (18,464,066 | ) |  | 5,458,180 |
| $ | 8,293,824 |  |  | $ | 10,591,468 |  |  | $ | 10,294,371 |  |  | $ | (18,464,066 | ) |  | $ | 10,715,597 |
Consolidating Statement of Operations and Comprehensive Income (Loss) | CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2020 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 2,197,564 |  |  | $ | 23,939 |  |  | $ | — |  |  | $ | 2,221,503 |
Land sale and other revenues | — |  |  | 2,450 |  |  | 16,477 |  |  | — |  |  | 18,927 |
| — |  |  | 2,200,014 |  |  | 40,416 |  |  | — |  |  | 2,240,430 |
Financial Services | — |  |  | — |  |  | 54,550 |  |  | — |  |  | 54,550 |
| — |  |  | 2,200,014 |  |  | 94,966 |  |  | — |  |  | 2,294,980 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,675,347 | ) |  | (19,518 | ) |  | — |  |  | (1,694,865 | )
Land sale cost of revenues | — |  |  | (854 | ) |  | (14,160 | ) |  | — |  |  | (15,014 | )
| — |  |  | (1,676,201 | ) |  | (33,678 | ) |  | — |  |  | (1,709,879 | )
Financial Services expenses | — |  |  | (143 | ) |  | (34,806 | ) |  | — |  |  | (34,949 | )
Selling, general, and administrative expenses | — |  |  | (255,635 | ) |  | (8,034 | ) |  | — |  |  | (263,669 | )
Goodwill impairment | — |  |  | — |  |  | (20,190 | ) |  | — |  |  | (20,190 | )
Other income (expense), net | (692 | ) |  | (6,617 | ) |  | 4,785 |  |  | — |  |  | (2,524 | )
Intercompany interest | (1,606 | ) |  | — |  |  | 1,606 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (2,298 | ) |  | 261,418 |  |  | 4,649 |  |  | — |  |  | 263,769 |
Income tax (expense) benefit | 574 |  |  | (59,459 | ) |  | (1,173 | ) |  | — |  |  | (60,058 | )
Income (loss) before equity in income (loss) of subsidiaries | (1,724 | ) |  | 201,959 |  |  | 3,476 |  |  | — |  |  | 203,711 |
Equity in income (loss) of subsidiaries | 205,435 |  |  | 18,197 |  |  | 195,720 |  |  | (419,352 | ) |  | — |
Net income (loss) | 203,711 |  |  | 220,156 |  |  | 199,196 |  |  | (419,352 | ) |  | 203,711 |
Other comprehensive income | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Comprehensive income (loss) | $ | 203,736 |  |  | $ | 220,156 |  |  | $ | 199,196 |  |  | $ | (419,352 | ) |  | $ | 203,736 |
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2019 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 1,907,808 |  |  | $ | 42,048 |  |  | $ | — |  |  | $ | 1,949,856 |
Land sale and other revenues | — |  |  | 2,325 |  |  | 650 |  |  | — |  |  | 2,975 |
| — |  |  | 1,910,133 |  |  | 42,698 |  |  | — |  |  | 1,952,831 |
Financial Services | — |  |  | — |  |  | 43,862 |  |  | — |  |  | 43,862 |
| — |  |  | 1,910,133 |  |  | 86,560 |  |  | — |  |  | 1,996,693 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (1,460,895 | ) |  | (31,896 | ) |  | — |  |  | (1,492,791 | )
Land sale cost of revenues | — |  |  | (944 | ) |  | (1,106 | ) |  | — |  |  | (2,050 | )
| — |  |  | (1,461,839 | ) |  | (33,002 | ) |  | — |  |  | (1,494,841 | )
Financial Services expenses | — |  |  | (132 | ) |  | (31,317 | ) |  | — |  |  | (31,449 | )
Selling, general, and administrative expenses | — |  |  | (234,118 | ) |  | (18,609 | ) |  | — |  |  | (252,727 | )
Other income (expense), net | (122 | ) |  | (4,986 | ) |  | 4,135 |  |  | — |  |  | (973 | )
Intercompany interest | (1,996 | ) |  | — |  |  | 1,996 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (2,118 | ) |  | 209,058 |  |  | 9,763 |  |  | — |  |  | 216,703 |
Income tax (expense) benefit | 508 |  |  | (47,650 | ) |  | (2,804 | ) |  |  |  |  | (49,946 | )
Income (loss) before equity in income (loss) of subsidiaries | (1,610 | ) |  | 161,408 |  |  | 6,959 |  |  | — |  |  | 166,757 |
Equity in income (loss) of subsidiaries | 168,367 |  |  | 18,304 |  |  | 113,696 |  |  | (300,367 | ) |  | — |
Net income (loss) | 166,757 |  |  | 179,712 |  |  | 120,655 |  |  | (300,367 | ) |  | 166,757 |
Other comprehensive income | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Comprehensive income (loss) | $ | 166,782 |  |  | $ | 179,712 |  |  | $ | 120,655 |  |  | $ | (300,367 | ) |  | $ | 166,782 |
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2020 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Net cash provided by (used in) operating activities | $ | 85,119 |  |  | $ | (14,577 | ) |  | $ | 134,073 |  |  | $ | — |  |  | $ | 204,615 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (18,108 | ) |  | (2,031 | ) |  | — |  |  | (20,139 | )
Investments in unconsolidated entities | — |  |  | 6,500 |  |  | (663 | ) |  | — |  |  | 5,837 |
Other investing activities, net | — |  |  | 48 |  |  | 1,658 |  |  | — |  |  | 1,706 |
Business acquisition | — |  |  | — |  |  | (83,200 | ) |  | — |  |  | (83,200 | )
Net cash provided by (used in) investing activities | — |  |  | (11,560 | ) |  | (84,236 | ) |  | — |  |  | (95,796 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowing (repayments), net | — |  |  | — |  |  | (56,573 | ) |  | — |  |  | (56,573 | )
Repayments of debt | — |  |  | (9,245 | ) |  | — |  |  | — |  |  | (9,245 | )
Borrowings under revolving credit facility | 700,000 |  |  | — |  |  | — |  |  | — |  |  | 700,000 |
Stock option exercises | 50 |  |  | — |  |  | — |  |  | — |  |  | 50 |
Share repurchases | (95,676 | ) |  | — |  |  | — |  |  | — |  |  | (95,676 | )
Cash paid for shares withheld for taxes | (14,838 | ) |  | — |  |  | — |  |  | — |  |  | (14,838 | )
Dividends paid | (32,740 | ) |  | — |  |  | — |  |  | — |  |  | (32,740 | )
Intercompany activities, net | (641,915 | ) |  | 758,709 |  |  | (116,794 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (85,119 | ) |  | 749,464 |  |  | (173,367 | ) |  | — |  |  | 490,978 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | 723,327 |  |  | (123,530 | ) |  | — |  |  | 599,797 |
Cash, cash equivalents, and restricted cash at beginning of year | — |  |  | 1,058,071 |  |  | 193,385 |  |  | — |  |  | 1,251,456 |
Cash, cash equivalents, and restricted cash at end of year | $ | — |  |  | $ | 1,781,398 |  |  | $ | 69,855 |  |  | $ | — |  |  | $ | 1,851,253 |
CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 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 | $ | 27,739 |  |  | $ | (14,834 | ) |  | $ | 146,000 |  |  | $ | — |  |  | $ | 158,905 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (13,216 | ) |  | (2,854 | ) |  | — |  |  | (16,070 | )
Investments in unconsolidated entities | — |  |  | (1,183 | ) |  | (106 | ) |  | — |  |  | (1,289 | )
Other investing activities, net | — |  |  | 190 |  |  | 101 |  |  | — |  |  | 291 |
Net cash provided by (used in) investing activities | — |  |  | (14,209 | ) |  | (2,859 | ) |  | — |  |  | (17,068 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowings (repayments), net | — |  |  | — |  |  | (126,273 | ) |  | — |  |  | (126,273 | )
Repayments of debt | — |  |  | (3,068 | ) |  | (537 | ) |  | — |  |  | (3,605 | )
Stock option exercises | 1,445 |  |  | — |  |  | — |  |  | — |  |  | 1,445 |
Share repurchases | (24,999 | ) |  | — |  |  | — |  |  |  |  |  | (24,999 | )
Cash paid for shares withheld for taxes | (10,350 | ) |  | — |  |  | — |  |  | — |  |  | (10,350 | )
Dividends paid | (30,802 | ) |  | — |  |  | — |  |  | — |  |  | (30,802 | )
Intercompany activities, net | 36,967 |  |  | 135,907 |  |  | (172,874 | ) |  |  |  |  | — |
Net cash provided by (used in) financing activities | (27,739 | ) |  | 132,839 |  |  | (299,684 | ) |  | — |  |  | (194,584 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | 103,796 |  |  | (156,543 | ) |  | — |  |  | (52,747 | )
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 | $ | — |  |  | $ | 1,033,163 |  |  | $ | 47,790 |  |  | $ | — |  |  | $ | 1,080,953 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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