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v3.19.1

Supplemental Guarantor Information (Tables) | 3 Months Ended
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Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet (in thousands):
| March 31, 2019
| Issuer |  | Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated TRI Pointe Group, Inc.
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 55,854 |  |  | $ | 92,928 |  |  | $ | — |  |  | $ | 148,782 |
Receivables | 20,616 |  |  | 37,618 |  |  | — |  |  | 58,234 |
Intercompany receivables | 858,286 |  |  | — |  |  | (858,286 | ) |  | — |
Real estate inventories | 780,568 |  |  | 2,462,110 |  |  | — |  |  | 3,242,678 |
Investments in unconsolidated entities | — |  |  | 4,191 |  |  | — |  |  | 4,191 |
Goodwill and other intangible assets, net | 156,603 |  |  | 3,690 |  |  | — |  |  | 160,293 |
Investments in subsidiaries | 1,668,464 |  |  | — |  |  | (1,668,464 | ) |  | — |
Deferred tax assets, net | 14,822 |  |  | 52,939 |  |  | — |  |  | 67,761 |
Other assets | 20,894 |  |  | 153,062 |  |  | — |  |  | 173,956 |
Total assets | $ | 3,576,107 |  |  | $ | 2,806,538 |  |  | $ | (2,526,750 | ) |  | $ | 3,855,895 |
Liabilities |  |  |  |  |  |  |
Accounts payable | $ | 11,973 |  |  | $ | 54,632 |  |  | $ | — |  |  | $ | 66,605 |
Intercompany payables | — |  |  | 858,286 |  |  | (858,286 | ) |  | — |
Accrued expenses and other liabilities | 94,648 |  |  | 225,143 |  |  | — |  |  | 319,791 |
Senior notes | 1,412,463 |  |  | — |  |  | — |  |  | 1,412,463 |
Total liabilities | 1,519,084 |  |  | 1,138,061 |  |  | (858,286 | ) |  | 1,798,859 |
Equity |  |  |  |  |  |  |
Total stockholders’ equity | 2,057,023 |  |  | 1,668,464 |  |  | (1,668,464 | ) |  | 2,057,023 |
Noncontrolling interests | — |  |  | 13 |  |  | — |  |  | 13 |
Total equity | 2,057,023 |  |  | 1,668,477 |  |  | (1,668,464 | ) |  | 2,057,036 |
Total liabilities and equity | $ | 3,576,107 |  |  | $ | 2,806,538 |  |  | $ | (2,526,750 | ) |  | $ | 3,855,895 |
Condensed Consolidating Balance Sheet (in thousands):
| December 31, 2018
| Issuer |  | Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated TRI Pointe Group, Inc.
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 148,129 |  |  | $ | 129,567 |  |  | $ | — |  |  | $ | 277,696 |
Receivables | 16,589 |  |  | 35,003 |  |  | — |  |  | 51,592 |
Intercompany receivables | 758,501 |  |  | — |  |  | (758,501 | ) |  | — |
Real estate inventories | 812,799 |  |  | 2,403,260 |  |  | — |  |  | 3,216,059 |
Investments in unconsolidated entities | — |  |  | 5,410 |  |  | — |  |  | 5,410 |
Goodwill and other intangible assets, net | 156,604 |  |  | 3,823 |  |  | — |  |  | 160,427 |
Investments in subsidiaries | 1,672,635 |  |  | — |  |  | (1,672,635 | ) |  | — |
Deferred tax assets, net | 14,822 |  |  | 52,946 |  |  | — |  |  | 67,768 |
Other assets | 12,984 |  |  | 92,267 |  |  | — |  |  | 105,251 |
Total assets | $ | 3,593,063 |  |  | $ | 2,722,276 |  |  | $ | (2,431,136 | ) |  | $ | 3,884,203 |
Liabilities |  |  |  |  |  |  |
Accounts payable | $ | 13,433 |  |  | $ | 67,880 |  |  | $ | — |  |  | $ | 81,313 |
Intercompany payables | — |  |  | 758,501 |  |  | (758,501 | ) |  | — |
Accrued expenses and other liabilities | 111,902 |  |  | 223,247 |  |  | — |  |  | 335,149 |
Senior notes | 1,410,804 |  |  | — |  |  | — |  |  | 1,410,804 |
Total liabilities | 1,536,139 |  |  | 1,049,628 |  |  | (758,501 | ) |  | 1,827,266 |
Equity |  |  |  |  |  |  |
Total stockholders’ equity | 2,056,924 |  |  | 1,672,635 |  |  | (1,672,635 | ) |  | 2,056,924 |
Noncontrolling interests | — |  |  | 13 |  |  | — |  |  | 13 |
Total equity | 2,056,924 |  |  | 1,672,648 |  |  | (1,672,635 | ) |  | 2,056,937 |
Total liabilities and equity | $ | 3,593,063 |  |  | $ | 2,722,276 |  |  | $ | (2,431,136 | ) |  | $ | 3,884,203 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations (in thousands):
| Three Months Ended March 31, 2019
| Issuer |  | Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated TRI Pointe Group, Inc.
Homebuilding: |  |  |  |  |  |  |
Home sales revenue | $ | 171,791 |  |  | $ | 320,912 |  |  | $ | — |  |  | $ | 492,703 |
Land and lot sales revenue | — |  |  | 1,029 |  |  | — |  |  | 1,029 |
Other operations revenue | — |  |  | 598 |  |  | — |  |  | 598 |
Total revenues | 171,791 |  |  | 322,539 |  |  | — |  |  | 494,330 |
Cost of home sales | 145,075 |  |  | 276,461 |  |  | — |  |  | 421,536 |
Cost of land and lot sales | — |  |  | 1,495 |  |  | — |  |  | 1,495 |
Other operations expense | — |  |  | 590 |  |  | — |  |  | 590 |
Sales and marketing | 9,299 |  |  | 29,690 |  |  | — |  |  | 38,989 |
General and administrative | 19,479 |  |  | 19,118 |  |  | — |  |  | 38,597 |
Homebuilding loss from operations | (2,062 | ) |  | (4,815 | ) |  | — |  |  | (6,877 | )
Equity in loss of unconsolidated entities | — |  |  | (25 | ) |  | — |  |  | (25 | )
Other income, net | 6,140 |  |  | 101 |  |  | — |  |  | 6,241 |
Homebuilding income (loss) before income taxes | 4,078 |  |  | (4,739 | ) |  | — |  |  | (661 | )
Financial Services: |  |  |  |  |  |  |
Revenues | — |  |  | 302 |  |  | — |  |  | 302 |
Expenses | — |  |  | 321 |  |  | — |  |  | 321 |
Equity in income of unconsolidated entities | — |  |  | 775 |  |  | — |  |  | 775 |
Financial services income before income taxes | — |  |  | 756 |  |  | — |  |  | 756 |
Income (loss) before income taxes | 4,078 |  |  | (3,983 | ) |  | — |  |  | 95 |
Equity of net (loss) of subsidiaries | (4,007 | ) |  | — |  |  | 4,007 |  |  | — |
Provision for income taxes | — |  |  | (24 | ) |  | — |  |  | (24 | )
Net income (loss) | $ | 71 |  |  | $ | (4,007 | ) |  | $ | 4,007 |  |  | $ | 71 |
Condensed Consolidating Statement of Operations (in thousands):
| Three Months Ended March 31, 2018
| Issuer |  | Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated TRI Pointe Group, Inc.
Homebuilding: |  |  |  |  |  |  |
Home sales revenue | $ | 190,420 |  |  | $ | 392,152 |  |  | $ | — |  |  | $ | 582,572 |
Land and lot sales revenue | — |  |  | 223 |  |  | — |  |  | 223 |
Other operations revenue | — |  |  | 598 |  |  | — |  |  | 598 |
Total revenues | 190,420 |  |  | 392,973 |  |  | — |  |  | 583,393 |
Cost of home sales | 159,055 |  |  | 291,447 |  |  | — |  |  | 450,502 |
Cost of land and lot sales | — |  |  | 503 |  |  | — |  |  | 503 |
Other operations expense | — |  |  | 602 |  |  | — |  |  | 602 |
Sales and marketing | 10,517 |  |  | 27,766 |  |  | — |  |  | 38,283 |
General and administrative | 18,159 |  |  | 18,655 |  |  | — |  |  | 36,814 |
Homebuilding income from operations | 2,689 |  |  | 54,000 |  |  | — |  |  | 56,689 |
Equity in loss of unconsolidated entities | — |  |  | (468 | ) |  | — |  |  | (468 | )
Other income, net | 139 |  |  | 32 |  |  | — |  |  | 171 |
Homebuilding income before income taxes | 2,828 |  |  | 53,564 |  |  | — |  |  | 56,392 |
Financial Services: |  |  |  |  |  |  |
Revenues | — |  |  | 283 |  |  | — |  |  | 283 |
Expenses | — |  |  | 137 |  |  | — |  |  | 137 |
Equity in income of unconsolidated entities | — |  |  | 1,002 |  |  | — |  |  | 1,002 |
Financial services income before income taxes | — |  |  | 1,148 |  |  | — |  |  | 1,148 |
Income before income taxes | 2,828 |  |  | 54,712 |  |  | — |  |  | 57,540 |
Equity of net income of subsidiaries | 40,052 |  |  | — |  |  | (40,052 | ) |  | — |
Provision for income taxes | — |  |  | (14,660 | ) |  | — |  |  | (14,660 | )
Net income | $ | 42,880 |  |  | $ | 40,052 |  |  | $ | (40,052 | ) |  | $ | 42,880 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows (in thousands):
| Three Months Ended March 31, 2019
| Issuer |  | Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 15,054 |  |  | $ | (129,979 | ) |  | $ | — |  |  | $ | (114,925 | )
Cash flows from investing activities: |  |  |  |  |  |  |
Purchases of property and equipment | (2,065 | ) |  | (5,159 | ) |  | — |  |  | (7,224 | )
Proceeds from sale of property and equipment | — |  |  | 7 |  |  | — |  |  | 7 |
Investments in unconsolidated entities | — |  |  | (231 | ) |  | — |  |  | (231 | )
Intercompany | (98,723 | ) |  | — |  |  | 98,723 |  |  | — |
Net cash (used in) provided by investing activities | (100,788 | ) |  | (5,383 | ) |  | 98,723 |  |  | (7,448 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Repayment of debt | (10 | ) |  | — |  |  | — |  |  | (10 | )
Debt issuance costs | (3,124 | ) |  | — |  |  | — |  |  | (3,124 | )
Proceeds from issuance of common stock under share-based awards | 198 |  |  | — |  |  | — |  |  | 198 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (3,605 | ) |  | — |  |  | — |  |  | (3,605 | )
Intercompany | — |  |  | 98,723 |  |  | (98,723 | ) |  | — |
Net cash (used in) provided by financing activities | (6,541 | ) |  | 98,723 |  |  | (98,723 | ) |  | (6,541 | )
Net decrease in cash and cash equivalents | (92,275 | ) |  | (36,639 | ) |  | — |  |  | (128,914 | )
Cash and cash equivalents–beginning of period | 148,129 |  |  | 129,567 |  |  | — |  |  | 277,696 |
Cash and cash equivalents–end of period | $ | 55,854 |  |  | $ | 92,928 |  |  | $ | — |  |  | $ | 148,782 |
Condensed Consolidating Statement of Cash Flows (in thousands):
| Three Months Ended March 31, 2018
| Issuer |  | Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 52,793 |  |  | $ | (2,907 | ) |  | $ | — |  |  | $ | 49,886 |
Cash flows from investing activities: |  |  |  |  |  |  |
Purchases of property and equipment | (419 | ) |  | (1,751 | ) |  | — |  |  | (2,170 | )
Proceeds from sale of property and equipment | — |  |  | — |  |  | — |  |  | — |
Investments in unconsolidated entities | — |  |  | (947 | ) |  | — |  |  | (947 | )
Intercompany | (18,449 | ) |  | — |  |  | 18,449 |  |  | — |
Net cash used in investing activities | (18,868 | ) |  | (2,698 | ) |  | 18,449 |  |  | (3,117 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Distributions to noncontrolling interests | — |  |  | (1 | ) |  | — |  |  | (1 | )
Proceeds from issuance of common stock under share-based awards | 975 |  |  | — |  |  | — |  |  | 975 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (6,049 | ) |  | — |  |  | — |  |  | (6,049 | )
Intercompany | — |  |  | 18,449 |  |  | (18,449 | ) |  | — |
Net cash (used in) provided by financing activities | (5,074 | ) |  | 18,448 |  |  | (18,449 | ) |  | (5,075 | )
Net increase in cash and cash equivalents | 28,851 |  |  | 12,843 |  |  | — |  |  | 41,694 |
Cash and cash equivalents–beginning of period | 176,684 |  |  | 106,230 |  |  | — |  |  | 282,914 |
Cash and cash equivalents–end of period | $ | 205,535 |  |  | $ | 119,073 |  |  | $ | — |  |  | $ | 324,608 |

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