Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2019

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 (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 (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