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Supplemental Guarantor Information Supplemental Guarantor Information (Tables) | 9 Months Ended
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Sep. 30, 2020
Supplemental Guarantor Information [Abstract] |
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block] |
UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME
|  | Three Months Ended September 30, 2020
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 818,975 |  | $ | 28,946 |  | $ | — |  | $ | 847,921 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 653,407 |  | — |  | — |  | 653,407 |
General and administrative |  | — |  | 39,325 |  | 9,554 |  | — |  | 48,879 |
Selling |  | — |  | 49,539 |  | — |  | — |  | 49,539 |
Equity in income from joint venture arrangements |  | — |  | — |  | (252) |  | — |  | (252) |
Interest |  | — |  | 531 |  | 708 |  | — |  | 1,239 |
Total costs and expenses |  | — |  | 742,802 |  | 10,010 |  | — |  | 752,812 |
Income before income taxes |  | — |  | 76,173 |  | 18,936 |  | — |  | 95,109 |
Provision for income taxes |  | — |  | 17,533 |  | 4,039 |  | — |  | 21,572 |
Equity in subsidiaries |  | 73,537 |  | — |  | — |  | (73,537) |  | — |
Net income |  | $ | 73,537 |  | $ | 58,640 |  | $ | 14,897 |  | $ | (73,537) |  | $ | 73,537 |
|  | Three Months Ended September 30, 2019
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 639,891 |  | $ | 13,454 |  | $ | — |  | $ | 653,345 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 519,164 |  | — |  | — |  | 519,164 |
General and administrative |  | — |  | 32,332 |  | 7,053 |  | — |  | 39,385 |
Selling |  | — |  | 40,147 |  | — |  | — |  | 40,147 |
Equity in income from joint venture arrangements |  | — |  | — |  | (52) |  | — |  | (52) |
Interest |  | — |  | 3,650 |  | 987 |  | — |  | 4,637 |
Total costs and expenses |  | — |  | 595,293 |  | 7,988 |  | — |  | 603,281 |
Income before income taxes |  | — |  | 44,598 |  | 5,466 |  | — |  | 50,064 |
Provision for income taxes |  | — |  | 11,222 |  | 1,004 |  | — |  | 12,226 |
Equity in subsidiaries |  | 37,838 |  | — |  | — |  | (37,838) |  | — |
Net income |  | $ | 37,838 |  | $ | 33,376 |  | $ | 4,462 |  | $ | (37,838) |  | $ | 37,838 |
|  | Nine Months Ended September 30, 2020
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 2,078,257 |  | $ | 61,461 |  | $ | — |  | $ | 2,139,718 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 1,672,122 |  | — |  | — |  | 1,672,122 |
General and administrative |  | — |  | 99,065 |  | 24,698 |  | — |  | 123,763 |
Selling |  | — |  | 127,494 |  | — |  | — |  | 127,494 |
Equity in income from joint venture arrangements |  | — |  | — |  | (307) |  | — |  | (307) |
Interest |  | — |  | 6,395 |  | 2,059 |  | — |  | 8,454 |
Total costs and expenses |  | — |  | 1,905,076 |  | 26,450 |  | — |  | 1,931,526 |
Income before income taxes |  | — |  | 173,181 |  | 35,011 |  | — |  | 208,192 |
Provision for income taxes |  | — |  | 41,181 |  | 7,220 |  | — |  | 48,401 |
Equity in subsidiaries |  | 159,791 |  | — |  | — |  | (159,791) |  | — |
Net income |  | $ | 159,791 |  | $ | 132,000 |  | $ | 27,791 |  | $ | (159,791) |  | $ | 159,791 |
|  | Nine Months Ended September 30, 2019
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
Revenue |  | $ | — |  | $ | 1,718,600 |  | $ | 39,540 |  | $ | — |  | $ | 1,758,140 |
Costs and expenses: |  |  |  |  |  |
Land and housing |  | — |  | 1,411,488 |  | — |  | — |  | 1,411,488 |
General and administrative |  | — |  | 86,080 |  | 20,168 |  | — |  | 106,248 |
Selling |  | — |  | 109,150 |  | — |  | — |  | 109,150 |
Equity in income from joint venture arrangements |  | — |  | — |  | (118) |  | — |  | (118) |
Interest |  | — |  | 13,962 |  | 2,664 |  | — |  | 16,626 |
Total costs and expenses |  | — |  | 1,620,680 |  | 22,714 |  | — |  | 1,643,394 |
Income before income taxes |  | — |  | 97,920 |  | 16,826 |  | — |  | 114,746 |
Provision for income taxes |  | — |  | 25,555 |  | 3,384 |  | — |  | 28,939 |
Equity in subsidiaries |  | 85,807 |  | — |  | — |  | (85,807) |  | — |
Net income |  | $ | 85,807 |  | $ | 72,365 |  | $ | 13,442 |  | $ | (85,807) |  | $ | 85,807 |
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block] |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
|  | September 30, 2020
(In thousands) |  | M/I Homes, Inc. | Guarantor Subsidiaries | Unrestricted Subsidiaries | Eliminations | Consolidated
ASSETS: |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  | $ | — |  | $ | 156,744 |  | $ | 45,768 |  | $ | — |  | $ | 202,512 |
Mortgage loans held for sale |  | — |  | — |  | 140,046 |  | — |  | 140,046 |
Inventory |  | — |  | 1,843,409 |  | — |  | — |  | 1,843,409 |
Property and equipment - net |  | — |  | 24,919 |  | 777 |  | — |  | 25,696 |
Investment in joint venture arrangements |  | — |  | 32,139 |  | 1,899 |  | — |  | 34,038 |
Operating lease right-of-use assets |  | — |  | 42,405 |  | 10,169 |  | — |  | 52,574 |
Deferred income tax asset |  | — |  | 9,205 |  | — |  | — |  | 9,205 |
Investment in subsidiaries |  | 1,079,323 |  | — |  | — |  | (1,079,323) |  | — |
Intercompany assets |  | 734,269 |  | — |  | — |  | (734,269) |  | — |
Goodwill |  | — |  | 16,400 |  | — |  | — |  | 16,400 |
Other assets |  | 2,994 |  | 78,709 |  | 14,972 |  | — |  | 96,675 |
TOTAL ASSETS |  | $ | 1,816,586 |  | $ | 2,203,930 |  | $ | 213,631 |  | $ | (1,813,592) |  | $ | 2,420,555 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
LIABILITIES: |  |  |  |  |  |
Accounts payable |  | $ | — |  | $ | 175,668 |  | $ | 913 |  | $ | — |  | $ | 176,581 |
Customer deposits |  | — |  | 66,632 |  | — |  | — |  | 66,632 |
Operating lease liabilities |  | — |  | 42,497 |  | 10,169 |  | — |  | 52,666 |
Intercompany liabilities |  | — |  | 733,275 |  | 994 |  | (734,269) |  | — |
Other liabilities |  | — |  | 147,478 |  | 8,912 |  | — |  | 156,390 |
Community development district obligations |  | — |  | 9,892 |  | — |  | — |  | 9,892 |
Obligation for consolidated inventory not owned |  | — |  | 364 |  | — |  | — |  | 364 |
Notes payable bank - homebuilding operations |  | — |  | — |  | — |  | — |  | — |
Notes payable bank - financial services operations |  | — |  | — |  | 136,119 |  | — |  | 136,119 |
Notes payable - other |  | — |  | 5,325 |  | — |  | — |  | 5,325 |
Senior notes due 2025 - net |  | 247,483 |  | — |  | — |  | — |  | 247,483 |
Senior notes due 2028 - net |  | 394,363 |  | — |  | — |  | — |  | 394,363 |
TOTAL LIABILITIES |  | 641,846 |  | 1,181,131 |  | 157,107 |  | (734,269) |  | 1,245,815 |
SHAREHOLDERS’ EQUITY |  | 1,174,740 |  | 1,022,799 |  | 56,524 |  | (1,079,323) |  | 1,174,740 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  | $ | 1,816,586 |  | $ | 2,203,930 |  | $ | 213,631 |  | $ | (1,813,592) |  | $ | 2,420,555 |
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
| Nine Months Ended September 30, 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 | $ | 10,360 |  | $ | 153,255 |  | $ | 43,021 |  | $ | (9,410) |  | $ | 197,226 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Purchase of property and equipment | — |  | (8,151) |  | (314) |  | — |  | (8,465) |
Return of capital from unconsolidated joint ventures | — |  | — |  | 1,213 |  | — |  | 1,213 |
Intercompany investing | (110,525) |  | — |  | — |  | 110,525 |  | — |
Investments in and advances to joint venture arrangements | — |  | (24,060) |  | (15) |  | — |  | (24,075) |
Net cash (used in) provided by investing activities | (110,525) |  | (32,211) |  | 884 |  | 110,525 |  | (31,327) |
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 | — |  | 306,800 |  | — |  | — |  | 306,800 |
Principal repayments of bank borrowings - homebuilding operations | — |  | (372,800) |  | — |  | — |  | (372,800) |
Net repayments of bank borrowings - financial services operations | — |  | — |  | (785) |  | — |  | (785) |
Principal repayments of notes payable - other and CDD bond obligations | — |  | (503) |  | — |  | — |  | (503) |
Intercompany financing | — |  | 104,291 |  | 509 |  | (104,800) |  | — |
Repurchase of common shares | (1,912) |  | — |  | — |  | — |  | (1,912) |
Dividends paid | — |  | — |  | (9,410) |  | 9,410 |  | — |
Debt issue costs | (6,177) |  | (2,307) |  | (40) |  | — |  | (8,524) |
Proceeds from exercise of stock options | 8,254 |  | — |  | — |  | — |  | 8,254 |
Net cash provided by (used in) financing activities | 100,165 |  | 35,481 |  | (9,726) |  | (95,390) |  | 30,530 |
Net increase in cash, cash equivalents and restricted cash | — |  | 156,525 |  | 34,179 |  | 5,725 |  | 196,429 |
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 | $ | — |  | $ | 156,744 |  | $ | 45,768 |  | $ | — |  | $ | 202,512 |
| Nine Months Ended September 30, 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 | $ | 9,530 |  | $ | (48,625) |  | $ | 49,602 |  | $ | (9,530) |  | $ | 977 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Purchase of property and equipment | — |  | (2,438) |  | (188) |  | — |  | (2,626) |
Return of capital from unconsolidated joint ventures | — |  | — |  | 438 |  | — |  | 438 |
Intercompany Investing | (18,728) |  | — |  | — |  | 18,728 |  | — |
Investments in and advances to joint venture arrangements | — |  | (23,351) |  | (171) |  | — |  | (23,522) |
Net cash (used in) provided by investing activities | (18,728) |  | (25,789) |  | 79 |  | 18,728 |  | (25,710) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Proceeds from bank borrowings - homebuilding operations | — |  | 568,900 |  | — |  | — |  | 568,900 |
Principal repayments of bank borrowings - homebuilding operations | — |  | (496,400) |  | — |  | — |  | (496,400) |
Net repayments of bank borrowings - financial services operations | — |  | — |  | (44,574) |  | — |  | (44,574) |
Principal repayments of notes payable - other and CDD bond obligations | — |  | (429) |  | — |  | — |  | (429) |
Intercompany financing | — |  | 16,155 |  | 2,573 |  | (18,728) |  | — |
Repurchase of common shares | (5,150) |  | — |  | — |  | — |  | (5,150) |
Dividends paid | — |  | — |  | (9,530) |  | 9,530 |  | — |
Debt issue costs | — |  | — |  | (40) |  | — |  | (40) |
Proceeds from exercise of stock options | 14,348 |  | — |  | — |  | — |  | 14,348 |
Net cash provided by (used in) financing activities | 9,198 |  | 88,226 |  | (51,571) |  | (9,198) |  | 36,655 |
Net increase (decrease) in cash, cash equivalents and restricted cash | — |  | 13,812 |  | (1,890) |  | — |  | 11,922 |
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 | $ | — |  | $ | 19,366 |  | $ | 14,085 |  | $ | — |  | $ | 33,451 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets 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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- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow 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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- 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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