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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 412,902 $ 274,371
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,087 16,591
Equity-based compensation expense 32,678 32,459
Contract land deposit impairments (recoveries), net 3,396 (1,427)
Gain on sale of loans, net (73,372) (59,386)
Mortgage loans closed (2,860,903) (2,542,659)
Mortgage loans sold and principal payments on mortgage loans held for sale 3,033,239 2,633,539
Distribution of earnings from unconsolidated joint ventures 5,120 8,026
Net change in assets and liabilities:    
Increase in inventory (284,459) (309,824)
Decrease (increase) in contract land deposits 11,306 (32,774)
Decrease (increase) in receivables 162 (2,913)
Increase in accounts payable and accrued expenses 15,109 59,736
Increase in customer deposits 40,049 33,732
Other, net (11,538) (7,034)
Net cash provided by operating activities 340,776 102,437
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (455) (653)
Distribution of capital from unconsolidated joint ventures 6,081 9,162
Purchase of property, plant and equipment (15,670) (16,513)
Proceeds from the sale of property, plant and equipment 664 701
Net cash used in investing activities (9,380) (7,303)
Cash flows from financing activities:    
Purchase of treasury stock (230,199) (291,743)
Distributions to partner in consolidated variable interest entity 0 (217)
Proceeds from the exercise of stock options 130,245 33,938
Net cash used in financing activities (99,954) (258,022)
Net increase (decrease) in cash and cash equivalents 231,442 (162,888)
Cash and cash equivalents, beginning of the period 396,619 425,316
Cash and cash equivalents, end of the period 628,061 262,428
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 23,112 20,899
Income taxes paid during the period, net of refunds $ 169,949 $ 148,117