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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Sep. 30, 2020
Supplemental Guarantor Information [Abstract] |
Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2020 ($000’s omitted)
| Unconsolidated |  | Eliminating Entries |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |
ASSETS |  |  |  |  |  |  |  |  |
Cash and equivalents | $ | — |  |  | $ | 2,001,550 |  |  | $ | 65,726 |  |  | $ | — |  |  | $ | 2,067,276 |
Restricted cash | — |  |  | 39,218 |  |  | 7,714 |  |  | — |  |  | 46,932 |
Total cash, cash equivalents, and restricted cash | — |  |  | 2,040,768 |  |  | 73,440 |  |  | — |  |  | 2,114,208 |
House and land inventory | — |  |  | 7,458,068 |  |  | 157,403 |  |  | — |  |  | 7,615,471 |
Land held for sale | — |  |  | 26,867 |  |  | — |  |  | — |  |  | 26,867 |
Residential mortgage loans available- for-sale | — |  |  | — |  |  | 400,067 |  |  | — |  |  | 400,067 |
Investments in unconsolidated entities | — |  |  | 40,921 |  |  | 801 |  |  | — |  |  | 41,722 |
Other assets | 34,990 |  |  | 639,993 |  |  | 242,405 |  |  | — |  |  | 917,388 |
Intangible assets | — |  |  | 114,192 |  |  | 54,274 |  |  | — |  |  | 168,466 |
Deferred tax assets, net | 93,577 |  |  | — |  |  | (12,744 | ) |  | — |  |  | 80,833 |
Investments in subsidiaries and intercompany accounts, net | 8,910,969 |  |  | 1,101,141 |  |  | 10,341,970 |  |  | (20,354,080 | ) |  | — |
| $ | 9,039,536 |  |  | $ | 11,421,950 |  |  | $ | 11,257,616 |  |  | $ | (20,354,080 | ) |  | $ | 11,365,022 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable, customer deposits, accrued and other liabilities | $ | 71,684 |  |  | $ | 1,757,966 |  |  | $ | 251,572 |  |  | $ | — |  |  | $ | 2,081,222 |
Income tax liabilities | 15,769 |  |  | — |  |  | — |  |  | — |  |  | 15,769 |
Financial Services debt | — |  |  | — |  |  | 249,046 |  |  | — |  |  | 249,046 |
Notes payable | 2,712,068 |  |  | 66,902 |  |  | — |  |  | — |  |  | 2,778,970 |
Total liabilities | 2,799,521 |  |  | 1,824,868 |  |  | 500,618 |  |  | — |  |  | 5,125,007 |
Total shareholders’ equity | 6,240,015 |  |  | 9,597,082 |  |  | 10,756,998 |  |  | (20,354,080 | ) |  | 6,240,015 |
| $ | 9,039,536 |  |  | $ | 11,421,950 |  |  | $ | 11,257,616 |  |  | $ | (20,354,080 | ) |  | $ | 11,365,022 |
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 September 30, 2020 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 2,761,898 |  |  | $ | 62,023 |  |  | $ | — |  |  | $ | 2,823,921 |
Land sale and other revenues | — |  |  | 6,723 |  |  | 17,442 |  |  | — |  |  | 24,165 |
| — |  |  | 2,768,621 |  |  | 79,465 |  |  | — |  |  | 2,848,086 |
Financial Services | — |  |  | — |  |  | 106,871 |  |  | — |  |  | 106,871 |
| — |  |  | 2,768,621 |  |  | 186,336 |  |  | — |  |  | 2,954,957 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (2,086,122 | ) |  | (45,619 | ) |  | — |  |  | (2,131,741 | )
Land sale and other cost of revenues | — |  |  | (3,959 | ) |  | (16,543 | ) |  | — |  |  | (20,502 | )
| — |  |  | (2,090,081 | ) |  | (62,162 | ) |  | — |  |  | (2,152,243 | )
Financial Services expenses | — |  |  | (180 | ) |  | (42,627 | ) |  | — |  |  | (42,807 | )
Selling, general, and administrative expenses | — |  |  | (262,348 | ) |  | (8,909 | ) |  | — |  |  | (271,257 | )
Goodwill impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other income (expense), net | (84 | ) |  | (13,265 | ) |  | 8,866 |  |  | — |  |  | (4,483 | )
Intercompany interest | (1,173 | ) |  | — |  |  | 1,173 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (1,257 | ) |  | 402,747 |  |  | 82,677 |  |  | — |  |  | 484,167 |
Income tax (expense) benefit | 314 |  |  | (48,113 | ) |  | (19,970 | ) |  | — |  |  | (67,769 | )
Income (loss) before equity in income (loss) of subsidiaries | (943 | ) |  | 354,634 |  |  | 62,707 |  |  | — |  |  | 416,398 |
Equity in income (loss) of subsidiaries | 417,341 |  |  | 61,743 |  |  | 344,854 |  |  | (823,938 | ) |  | — |
Net income (loss) | 416,398 |  |  | 416,377 |  |  | 407,561 |  |  | (823,938 | ) |  | 416,398 |
Other comprehensive income | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Comprehensive income (loss) | $ | 416,423 |  |  | $ | 416,377 |  |  | $ | 407,561 |  |  | $ | (823,938 | ) |  | $ | 416,423 |
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 and other 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 nine months ended September 30, 2020 ($000’s omitted)
| Unconsolidated |  |  |  | Consolidated PulteGroup, Inc.
| PulteGroup, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminating Entries |
Revenues: |  |  |  |  |  |  |  |  |
Homebuilding |  |  |  |  |  |  |  |  |
Home sale revenues | $ | — |  |  | $ | 7,407,014 |  |  | $ | 110,439 |  |  | $ | — |  |  | $ | 7,517,453 |
Land sale and other revenues | — |  |  | 17,722 |  |  | 52,320 |  |  | — |  |  | 70,042 |
| — |  |  | 7,424,736 |  |  | 162,759 |  |  | — |  |  | 7,587,495 |
Financial Services | — |  |  | — |  |  | 256,223 |  |  | — |  |  | 256,223 |
| — |  |  | 7,424,736 |  |  | 418,982 |  |  | — |  |  | 7,843,718 |
Homebuilding Cost of Revenues: |  |  |  |  |  |  |  |  |
Home sale cost of revenues | — |  |  | (5,622,495 | ) |  | (84,319 | ) |  | — |  |  | (5,706,814 | )
Land sale and other cost of revenues | — |  |  | (9,345 | ) |  | (46,213 | ) |  | — |  |  | (55,558 | )
| — |  |  | (5,631,840 | ) |  | (130,532 | ) |  | — |  |  | (5,762,372 | )
Financial Services expenses | — |  |  | (535 | ) |  | (111,600 | ) |  | — |  |  | (112,135 | )
Selling, general, and administrative expenses | — |  |  | (713,360 | ) |  | (18,425 | ) |  | — |  |  | (731,785 | )
Goodwill impairment | — |  |  | — |  |  | (20,190 | ) |  | — |  |  | (20,190 | )
Other income (expense), net | (3,628 | ) |  | (30,323 | ) |  | 21,659 |  |  | — |  |  | (12,292 | )
Intercompany interest | (4,247 | ) |  | — |  |  | 4,247 |  |  | — |  |  | — |
Income (loss) before income taxes and equity in income (loss) of subsidiaries | (7,875 | ) |  | 1,048,678 |  |  | 164,141 |  |  | — |  |  | 1,204,944 |
Income tax (expense) benefit | 1,969 |  |  | (198,316 | ) |  | (39,869 | ) |  | — |  |  | (236,216 | )
Income (loss) before equity in income (loss) of subsidiaries | (5,906 | ) |  | 850,362 |  |  | 124,272 |  |  | — |  |  | 968,728 |
Equity in income (loss) of subsidiaries | 974,634 |  |  | 130,079 |  |  | 829,470 |  |  | (1,934,183 | ) |  | — |
Net income (loss) | 968,728 |  |  | 980,441 |  |  | 953,742 |  |  | (1,934,183 | ) |  | 968,728 |
Other comprehensive income | 75 |  |  | — |  |  | — |  |  | — |  |  | 75 |
Comprehensive income (loss) | $ | 968,803 |  |  | $ | 980,441 |  |  | $ | 953,742 |  |  | $ | (1,934,183 | ) |  | $ | 968,803 |
Consolidating Statement Of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 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 | $ | 70,895 |  |  | $ | 1,007,020 |  |  | $ | 190,710 |  |  | $ | — |  |  | $ | 1,268,625 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (40,773 | ) |  | (6,152 | ) |  | — |  |  | (46,925 | )
Investments in unconsolidated entities | — |  |  | — |  |  | (663 | ) |  | — |  |  | (663 | )
Distributions of capital from unconsolidated entities | — |  |  | 19,630 |  |  | 309 |  |  | — |  |  | 19,939 |
Other investing activities, net | — |  |  | 152 |  |  | 1,569 |  |  | — |  |  | 1,721 |
Business acquisition | — |  |  | — |  |  | (83,251 | ) |  | — |  |  | (83,251 | )
Net cash provided by (used in) investing activities | — |  |  | (20,991 | ) |  | (88,188 | ) |  | — |  |  | (109,179 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Financial Services borrowing (repayments), net | — |  |  | — |  |  | (77,527 | ) |  | — |  |  | (77,527 | )
Repayments of debt | — |  |  | (10,993 | ) |  | — |  |  | — |  |  | (10,993 | )
Borrowings under revolving credit facility | 700,000 |  |  | — |  |  | — |  |  | — |  |  | 700,000 |
Repayments under revolving credit facility | (700,000 | ) |  | — |  |  | — |  |  | — |  |  | (700,000 | )
Stock option exercises | 111 |  |  | — |  |  | — |  |  | — |  |  | 111 |
Share repurchases | (95,676 | ) |  | — |  |  | — |  |  | — |  |  | (95,676 | )
Cash paid for shares withheld for taxes | (14,853 | ) |  | — |  |  | — |  |  | — |  |  | (14,853 | )
Dividends paid | (97,756 | ) |  | — |  |  | — |  |  | — |  |  | (97,756 | )
Intercompany activities, net | 137,279 |  |  | 7,661 |  |  | (144,940 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (70,895 | ) |  | (3,332 | ) |  | (222,467 | ) |  | — |  |  | (296,694 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | 982,697 |  |  | (119,945 | ) |  | — |  |  | 862,752 |
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 | $ | — |  |  | $ | 2,040,768 |  |  | $ | 73,440 |  |  | $ | — |  |  | $ | 2,114,208 |
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 | )
Distributions of capital from unconsolidated entities | — |  |  | 214 |  |  | — |  |  | — |  |  | 214 |
Other investing activities, net | — |  |  | 3,072 |  |  | 1,723 |  |  | — |  |  | 4,795 |
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 borrowings (repayments), net | — |  |  | — |  |  | (99,052 | ) |  | — |  |  | (99,052 | )
Repayments of debt | (280,175 | ) |  | (16,699 | ) |  | (537 | ) |  | — |  |  | (297,411 | )
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 |

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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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