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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 271,513 $ 187,551 $ 196,133
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 29,097 3,500 3,087
Equity in (income) loss of unconsolidated entities, net (8,124) 5,007 (4,989)
Deferred income taxes, net 11,074 46,810 7,434
Amortization of stock-based compensation 14,814 15,906 12,612
Charges for impairments and lot option abandonments 5,085 2,053 1,470
Excess tax deficit of share-based awards 0 0 (165)
Changes in assets and liabilities:      
Real estate inventories (91,757) (205,229) (388,145)
Receivables 74,545 (44,280) 576
Other assets (9,895) 13,487 (8,501)
Accounts payable 3,222 2,618 5,412
Accrued expenses and other liabilities 1,906 67,036 10,490
Returns on investments in unconsolidated entities, net 9,182 7,215 6,276
Net cash provided by (used in) operating activities 310,662 101,674 (158,310)
Cash flows from investing activities:      
Purchases of property and equipment (31,651) (2,605) (3,985)
Proceeds from sale of property and equipment 8 6 9
Investments in unconsolidated entities (2,274) (980) (32)
Net cash paid for acquisition (61,495) 0 0
Net cash used in investing activities (95,412) (3,579) (4,008)
Cash flows from financing activities:      
Borrowings from debt 125,000 500,000 541,069
Repayment of debt (193,105) (413,726) (330,858)
Debt issuance costs 0 (5,957) (5,062)
Net repayments of debt held by variable interest entities 0 0 (2,442)
Contributions from noncontrolling interests 0 0 1,955
Distributions to noncontrolling interests (2,194) (1,333) (5,318)
Proceeds from issuance of common stock under share-based awards 1,943 12,291 587
Minimum tax withholding paid on behalf of employees for share-based awards (6,049) (2,896) (1,359)
Share repurchases (146,063) (112,217) (42,082)
Net cash (used in) provided by financing activities (220,468) (23,838) 156,490
Net (decrease) increase in cash and cash equivalents (5,218) 74,257 (5,828)
Cash and cash equivalents - beginning of year 282,914 208,657 214,485
Cash and cash equivalents - end of year $ 277,696 $ 282,914 $ 208,657