XML 16 R5.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net Income (Loss) $ 1,717,115 $ 2,170,023
Adjustments to reconcile net income to net cash from operating activities:    
Deferred income tax expense 51,921 116,013
Land-related charges 69,811 19,929
Depreciation and amortization 75,549 64,975
Equity income from unconsolidated entities (3,333) (42,577)
Distributions of income from unconsolidated entities 3,060 2,557
Share-based compensation expense 43,221 39,247
Other, net (739) (74)
Increase (decrease) in cash due to:    
Inventories (635,860) (805,331)
Residential mortgage loans available-for-sale 143,516 (45,184)
Other assets (203,007) (366,279)
Accounts payable, accrued and other liabilities (161,132) (40,115)
Net cash provided by operating activities 1,100,122 1,113,184
Cash flows from investing activities:    
Capital expenditures (91,401) (94,065)
Investments in unconsolidated entities (9,171) (15,105)
Distributions of capital from unconsolidated entities 45,669 9,017
Other investing activities, net (9,201) (8,197)
Net cash used in investing activities (64,104) (108,350)
Cash flows from financing activities:    
Repayments of notes payable (9,163) (350,453)
Financial Services borrowings (repayments), net (122,683) 24,465
Debt issuance costs (1,446) 0
Proceeds from liabilities related to consolidated inventory not owned 25,643 46,256
Payments related to consolidated inventory not owned (32,981) (94,121)
Share repurchases (900,000) (879,999)
Excise tax on share repurchases (11,550) 0
Cash paid for shares withheld for taxes (24,303) (18,463)
Dividends paid (133,658) (126,560)
Net cash used in financing activities (1,210,141) (1,398,875)
Net increase (decrease) in cash, cash equivalents, and restricted cash (174,123) (394,041)
Cash, cash equivalents, and restricted cash at beginning of period 1,653,680 1,849,177
Cash, cash equivalents, and restricted cash at end of period 1,479,557 1,455,136
Supplemental Cash Flow Information:    
Interest paid (capitalized), net 12,904 20,144
Income taxes paid (refunded), net $ 533,574 $ 546,344