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Supplemental Guarantor Information Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2020
Supplemental Guarantor Information [Abstract] |
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block] |
UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME
|  | Three Months Ended March 31, 2020
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 564,136 |  | $ | 13,467 |  | $ | — |  | $ | 577,603 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 460,924 |  | — |  | — |  | 460,924 |
General and administrative |  | — |  | 26,563 |  | 7,284 |  | — |  | 33,847 |
Selling |  | — |  | 36,828 |  | — |  | — |  | 36,828 |
Equity in income from joint venture arrangements |  | — |  | — |  | (52 | ) | — |  | (52 | )
Interest |  | — |  | 3,969 |  | 731 |  | — |  | 4,700 |
Total costs and expenses |  | — |  | 528,284 |  | 7,963 |  | — |  | 536,247 |
Income before income taxes |  | — |  | 35,852 |  | 5,504 |  | — |  | 41,356 |
Provision for income taxes |  | — |  | 8,581 |  | 1,029 |  | — |  | 9,610 |
Equity in subsidiaries |  | 31,746 |  | — |  | — |  | (31,746 | ) | — |
Net income |  | $ | 31,746 |  | $ | 27,271 |  | $ | 4,475 |  | $ | (31,746 | ) | $ | 31,746 |
|  | Three Months Ended March 31, 2019
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 469,326 |  | $ | 11,783 |  | $ | — |  | $ | 481,109 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 388,467 |  | — |  | — |  | 388,467 |
General and administrative |  | — |  | 24,433 |  | 6,266 |  | — |  | 30,699 |
Selling |  | — |  | 31,551 |  | — |  | — |  | 31,551 |
Equity in loss from joint venture arrangements |  | — |  | — |  | 121 |  | — |  | 121 |
Interest |  | — |  | 6,049 |  | 743 |  | — |  | 6,792 |
Total costs and expenses |  | — |  | 450,500 |  | 7,130 |  | — |  | 457,630 |
Income before income taxes |  | — |  | 18,826 |  | 4,653 |  | — |  | 23,479 |
Provision for income taxes |  | — |  | 4,755 |  | 1,001 |  | — |  | 5,756 |
Equity in subsidiaries |  | 17,723 |  | — |  | — |  | (17,723 | ) | — |
Net income |  | $ | 17,723 |  | $ | 14,071 |  | $ | 3,652 |  | $ | (17,723 | ) | $ | 17,723 |
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block] |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
|  | March 31, 2020
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  | $ | — |  | $ | 486 |  | $ | 22,856 |  | $ | (2,158 | ) | $ | 21,184 |
Mortgage loans held for sale |  | — |  | — |  | 156,208 |  | — |  | 156,208 |
Inventory |  | — |  | 1,822,531 |  | — |  | — |  | 1,822,531 |
Property and equipment - net |  | — |  | 20,372 |  | 674 |  | — |  | 21,046 |
Investment in joint venture arrangements |  | — |  | 38,077 |  | 2,229 |  | — |  | 40,306 |
Operating lease right-of-use assets |  | — |  | 16,700 |  | 3,375 |  | — |  | 20,075 |
Deferred income tax asset |  | — |  | 9,540 |  | — |  | — |  | 9,540 |
Investment in subsidiaries |  | 959,789 |  | — |  | — |  | (959,789 | ) | — |
Intercompany assets |  | 717,921 |  | — |  | — |  | (717,921 | ) | — |
Goodwill |  | — |  | 16,400 |  | — |  | — |  | 16,400 |
Other assets |  | 1,182 |  | 71,741 |  | 18,750 |  | — |  | 91,673 |
TOTAL ASSETS |  | $ | 1,678,892 |  | $ | 1,995,847 |  | $ | 204,092 |  | $ | (1,679,868 | ) | $ | 2,198,963 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 151,591 |  | $ | 823 |  | $ | (2,158 | ) | $ | 150,256 |
Customer deposits |  | — |  | 45,099 |  | — |  | — |  | 45,099 |
Operating lease liabilities |  | — |  | 16,700 |  | 3,375 |  | — |  | 20,075 |
Intercompany liabilities |  | — |  | 715,527 |  | 2,394 |  | (717,921 | ) | — |
Other liabilities |  | — |  | 107,214 |  | 10,728 |  | — |  | 117,942 |
Community development district obligations |  | — |  | 12,914 |  | — |  | — |  | 12,914 |
Obligation for consolidated inventory not owned |  | — |  | 14,284 |  | — |  | — |  | 14,284 |
Notes payable bank - homebuilding operations |  | — |  | 6,900 |  | — |  | — |  | 6,900 |
Notes payable bank - financial services operations |  | — |  | — |  | 145,055 |  | — |  | 145,055 |
Notes payable - other |  | — |  | 7,546 |  | — |  | — |  | 7,546 |
Senior notes due 2025 - net |  | 247,222 |  | — |  | — |  | — |  | 247,222 |
Senior notes due 2028 - net |  | 393,989 |  | — |  | — |  | — |  | 393,989 |
TOTAL LIABILITIES |  | 641,211 |  | 1,077,775 |  | 162,375 |  | (720,079 | ) | 1,161,282 |
SHAREHOLDERS’ EQUITY |  | 1,037,681 |  | 918,072 |  | 41,717 |  | (959,789 | ) | 1,037,681 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 1,678,892 |  | $ | 1,995,847 |  | $ | 204,092 |  | $ | (1,679,868 | ) | $ | 2,198,963 |
CONDENSED CONSOLIDATING BALANCE SHEET
|  | December 31, 2019
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  | $ | — |  | $ | 219 |  | $ | 11,589 |  | $ | (5,725 | ) | $ | 6,083 |
Mortgage loans held for sale |  | — |  | — |  | 155,244 |  | — |  | 155,244 |
Inventory |  | — |  | 1,769,507 |  | — |  | — |  | 1,769,507 |
Property and equipment - net |  | — |  | 21,372 |  | 746 |  | — |  | 22,118 |
Investment in joint venture arrangements |  | — |  | 35,391 |  | 2,494 |  | — |  | 37,885 |
Operating lease right-of-use assets |  | — |  | 15,689 |  | 2,726 |  | — |  | 18,415 |
Deferred income tax asset |  | — |  | 9,631 |  | — |  | — |  | 9,631 |
Investment in subsidiaries |  | 928,942 |  | — |  | — |  | (928,942 | ) | — |
Intercompany assets |  | 619,204 |  | — |  | — |  | (619,204 | ) | — |
Goodwill |  | — |  | 16,400 |  | — |  | — |  | 16,400 |
Other assets |  | 1,411 |  | 56,134 |  | 12,766 |  | — |  | 70,311 |
TOTAL ASSETS |  | $ | 1,549,557 |  | $ | 1,924,343 |  | $ | 185,565 |  | $ | (1,553,871 | ) | $ | 2,105,594 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 130,136 |  | $ | 615 |  | $ | (5,725 | ) | $ | 125,026 |
Customer deposits |  | — |  | 34,462 |  | — |  | — |  | 34,462 |
Intercompany liabilities |  | — |  | 618,946 |  | 258 |  | (619,204 | ) | — |
Operating lease liabilities |  | — |  | 15,691 |  | 2,724 |  | — |  | 18,415 |
Other liabilities |  | — |  | 141,015 |  | 6,922 |  | — |  | 147,937 |
Community development district obligations |  | — |  | 13,531 |  | — |  | — |  | 13,531 |
Obligation for consolidated inventory not owned |  | — |  | 7,934 |  | — |  | — |  | 7,934 |
Notes payable bank - homebuilding operations |  | — |  | 66,000 |  | — |  | — |  | 66,000 |
Notes payable bank - financial services operations |  | — |  | — |  | 136,904 |  | — |  | 136,904 |
Notes payable - other |  | — |  | 5,828 |  | — |  | — |  | 5,828 |
Senior notes due 2021 - net |  | 298,988 |  | — |  | — |  | — |  | 298,988 |
Senior notes due 2025 - net |  | 247,092 |  | — |  | — |  | — |  | 247,092 |
TOTAL LIABILITIES |  | 546,080 |  | 1,033,543 |  | 147,423 |  | (624,929 | ) | 1,102,117 |
SHAREHOLDERS’ EQUITY |  | 1,003,477 |  | 890,800 |  | 38,142 |  | (928,942 | ) | 1,003,477 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 1,549,557 |  | $ | 1,924,343 |  | $ | 185,565 |  | $ | (1,553,871 | ) | $ | 2,105,594 |
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block] |
UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, 2020
(In thousands) | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 1,850 |  | $ | (26,758 | ) | $ | 1,581 |  | $ | (900 | ) | $ | (24,227 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Purchase of property and equipment | — |  | (440 | ) | (11 | ) | — |  | (451 | )
Return of capital from unconsolidated joint ventures | — |  | — |  | 363 |  | — |  | 363 |
Intercompany investing | (96,955 | ) | — |  | — |  | 96,955 |  | — |
Investments in and advances to joint venture arrangements | — |  | (6,451 | ) | (7 | ) | — |  | (6,458 | )
Net cash (used in) provided by investing activities | (96,955 | ) | (6,891 | ) | 345 |  | 96,955 |  | (6,546 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Repayment of senior notes due 2021 | (300,000 | ) | — |  | — |  | — |  | (300,000 | )
Proceeds from issuance of senior notes due 2028 | 400,000 |  | — |  | — |  | — |  | 400,000 |
Proceeds from bank borrowings - homebuilding operations | — |  | 194,300 |  | — |  | — |  | 194,300 |
Principal repayments of bank borrowings - homebuilding operations | — |  | (253,400 | ) | — |  | — |  | (253,400 | )
Net proceeds from bank borrowings - financial services operations | — |  | — |  | 8,151 |  | — |  | 8,151 |
Proceeds from notes payable - other and CDD bond obligations | — |  | 1,718 |  | — |  | — |  | 1,718 |
Intercompany financing | — |  | 91,298 |  | 2,090 |  | (93,388 | ) | — |
Repurchase of common shares | (1,912 | ) | — |  | — |  | — |  | (1,912 | )
Dividends paid | — |  | — |  | (900 | ) | 900 |  | — |
Debt issue costs | (6,165 | ) | — |  | — |  |  |  | (6,165 | )
Proceeds from exercise of stock options | 3,182 |  | — |  | — |  | — |  | 3,182 |
Net cash provided by (used in) financing activities | 95,105 |  | 33,916 |  | 9,341 |  | (92,488 | ) | 45,874 |
Net increase in cash, cash equivalents and restricted cash | — |  | 267 |  | 11,267 |  | 3,567 |  | 15,101 |
Cash, cash equivalents and restricted cash balance at beginning of period | — |  | 219 |  | 11,589 |  | (5,725 | ) | 6,083 |
Cash, cash equivalents and restricted cash balance at end of period | $ | — |  | $ | 486 |  | $ | 22,856 |  | $ | (2,158 | ) | $ | 21,184 |
| Three Months Ended March 31, 2019
(In thousands) | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 4,180 |  | $ | (72,925 | ) | $ | 50,292 |  | $ | (4,180 | ) | $ | (22,633 | )
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Purchase of property and equipment | — |  | (427 | ) | (33 | ) | — |  | (460 | )
Intercompany Investing | (1,458 | ) | — |  | — |  | 1,458 |  | — |
Investments in and advances to joint venture arrangements | — |  | (5,928 | ) | (113 | ) | — |  | (6,041 | )
Net cash (used in) provided by investing activities | (1,458 | ) | (6,355 | ) | (146 | ) | 1,458 |  | (6,501 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Proceeds from bank borrowings - homebuilding operations | — |  | 218,100 |  | — |  | — |  | 218,100 |
Principal repayments of bank borrowings - homebuilding operations | — |  | (116,700 | ) | — |  | — |  | (116,700 | )
Net repayments of bank borrowings - financial services operations | — |  | — |  | (49,142 | ) | — |  | (49,142 | )
Intercompany financing | — |  | (792 | ) | 2,250 |  | (1,458 | ) | — |
Repurchase of common shares | (5,150 | ) | — |  | — |  | — |  | (5,150 | )
Dividends paid | — |  | — |  | (4,180 | ) | 4,180 |  | — |
Proceeds from exercise of stock options | 2,428 |  | — |  | — |  | — |  | 2,428 |
Net cash (used in) provided by financing activities | (2,722 | ) | 100,608 |  | (51,072 | ) | 2,722 |  | 49,536 |
Net increase (decrease) in cash, cash equivalents and restricted cash | — |  | 21,328 |  | (926 | ) | — |  | 20,402 |
Cash, cash equivalents and restricted cash balance at beginning of period | — |  | 5,554 |  | 15,975 |  | — |  | 21,529 |
Cash, cash equivalents and restricted cash balance at end of period | $ | — |  | $ | 26,882 |  | $ | 15,049 |  | $ | — |  | $ | 41,931 |

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