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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 426,100 $ 248,762
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,460 5,203
Equity-based compensation expense 11,668 14,471
Contract land deposit recoveries, net (5,924) (6,183)
Gain on sale of loans, net (57,978) (67,550)
Mortgage loans closed (1,484,771) (1,413,988)
Mortgage loans sold and principal payments on mortgage loans held for sale 1,511,850 1,583,701
Net change in assets and liabilities:    
Increase in inventory (246,273) (120,710)
Increase in contract land deposits (8,979) (3,092)
Increase in receivables (13,782) (4,243)
Increase in accounts payable and accrued expenses 127,083 33,618
Increase in customer deposits 35,715 73,695
Other, net 8,157 (15,426)
Net Cash Provided by (Used in) Operating Activities 309,326 328,258
Cash flows from investing activities:    
Investments in and advances to unconsolidated joint ventures (472) (659)
Purchase of property, plant and equipment (4,056) (3,104)
Proceeds from the sale of property, plant and equipment 210 369
Net Cash Provided by (Used in) Investing Activities (4,318) (3,394)
Cash flows from financing activities:    
Purchase of treasury stock (748,788) (377,425)
Principal payments on finance lease liabilities (356) (329)
Proceeds from the exercise of stock options 34,241 57,625
Net Cash Provided by (Used in) Financing Activities (714,903) (320,129)
Net (decrease) increase in cash, restricted cash, and cash equivalents (409,895) 4,735
Cash, restricted cash, and cash equivalents, beginning of the period 2,636,984 2,809,782
Cash, restricted cash, and cash equivalents, end of the period 2,227,089 2,814,517
Supplemental disclosures of cash flow information:    
Interest paid during the period, net of interest capitalized 12,521 12,614
Income taxes paid during the period, net of refunds 2,536 2,635
Distribution of earnings from unconsolidated joint ventures $ 2,000 $ 0