Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Balance Sheet (in thousands):



	December 31, 2019
	Issuer		Guarantor Subsidiaries		Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Assets
Cash and cash equivalents	$	186,200	$	142,811	$	—		$	329,011
Receivables	26,016		43,260		—			69,276
Intercompany receivables	576,846		—		(576,846		)	—
Real estate inventories	737,662		2,327,774		—			3,065,436
Investments in unconsolidated entities	—		11,745		—			11,745
Goodwill and other intangible assets, net	156,604		3,289		—			159,893
Investments in subsidiaries	1,870,885		—		(1,870,885		)	—
Deferred tax assets, net	9,020		40,884		—			49,904
Other assets	14,676		158,749		—			173,425
Total Assets	$	3,577,909	$	2,728,512	$	(2,447,731	)	$	3,858,690

Liabilities
Accounts payable	$	14,915	$	51,205	$	—		$	66,120
Intercompany payables	—		576,846		(576,846		)	—
Accrued expenses and other liabilities	92,479		229,564		—			322,043
Loans payable	250,000		—		—			250,000
Senior notes, net	1,033,985		—		—			1,033,985
Total Liabilities	1,391,379		857,615		(576,846		)	1,672,148
Equity
Total stockholders’ equity	2,186,530		1,870,885		(1,870,885		)	2,186,530
Noncontrolling interests	—		12		—			12
Total Equity	2,186,530		1,870,897		(1,870,885		)	2,186,542
Total Liabilities and Equity	$	3,577,909	$	2,728,512	$	(2,447,731	)	$	3,858,690

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, net	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):



	Year Ended December 31, 2019
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	796,959		$	2,272,416		$	—		$	3,069,375
Land and lot sales revenue	—			7,176			—			7,176
Other operations revenue	—			2,470			—			2,470
Total revenues	796,959			2,282,062			—			3,079,021
Cost of home sales	670,545			1,792,163			—			2,462,708
Cost of land and lot sales	—			7,711			—			7,711
Other operations expense	—			2,434			—			2,434
Sales and marketing	42,432			152,716			—			195,148
General and administrative	80,798			76,363			—			157,161
Homebuilding income from operations	3,184			250,675			—			253,859
Equity in loss of unconsolidated entities	—			(52		)	—			(52		)
Other income, net	6,188			669			—			6,857
Homebuilding income before taxes	9,372			251,292			—			260,664
Financial Services:
Revenues	—			3,994			—			3,994
Expenses	—			2,887			—			2,887
Equity in income of unconsolidated entities	—			9,316			—			9,316
Financial services income before taxes	—			10,423			—			10,423
Income before taxes	9,372			261,715			—			271,087
Provision for income taxes	(2,323		)	(61,577		)	—			(63,900		)
Equity of net income (loss) of subsidiaries	200,138			—			(200,138		)	—
Net income (loss) available to common stockholders	$	207,187		$	200,138		$	(200,138	)	$	207,187

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2018
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	1,073,592		$	2,170,495		$	—		$	3,244,087
Land and lot sales revenue	—			8,758			—			8,758
Other operations revenue	—			8,164			—			8,164
Total revenues	1,073,592			2,187,417			—			3,261,009
Cost of home sales	877,928			1,658,971			—			2,536,899
Cost of land and lot sales	17,500			7,935			—			25,435
Other operations expense	—			3,174			—			3,174
Sales and marketing	48,593			138,674			—			187,267
General and administrative	78,669			76,361			—			155,030
Homebuilding income from operations	50,902			302,302			—			353,204
Equity in loss of unconsolidated entities	—			(393		)	—			(393		)
Other (loss) income, net	(623		)	204			—			(419		)
Homebuilding income before taxes	50,279			302,113			—			352,392
Financial Services:
Revenues	—			1,738			—			1,738
Expenses	—			582			—			582
Equity in income of unconsolidated entities	—			8,517			—			8,517
Financial services income before taxes	—			9,673			—			9,673
Income before taxes	50,279			311,786			—			362,065
Provision for income taxes	(13,084		)	(77,468		)	—			(90,552		)
Equity of net income (loss) of subsidiaries	232,716			—			(232,716		)	—
Net income (loss)	269,911			234,318			(232,716		)	271,513
Net income attributable to noncontrolling interests	—			(1,602		)	—			(1,602		)
Net income (loss) available to common stockholders	$	269,911		$	232,716		$	(232,716	)	$	269,911

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2017
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	927,247		$	1,805,052		$	—		$	2,732,299
Land and lot sales revenue	—			74,269			—			74,269
Other operations revenue	—			2,333			—			2,333
Total revenues	927,247			1,881,654			—			2,808,901
Cost of home sales	780,732			1,392,519			—			2,173,251
Cost of land and lot sales	—			14,888			—			14,888
Other operations expense	—			2,298			—			2,298
Sales and marketing	34,286			102,780			—			137,066
General and administrative	67,006			70,758			—			137,764
Homebuilding income from operations	45,223			298,411			—			343,634
Equity in loss of unconsolidated entities	—			(11,433		)	—			(11,433		)
Other income, net	38			113			—			151
Homebuilding income before taxes	45,261			287,091			—			332,352
Financial Services:
Revenues	—			1,371			—			1,371
Expenses	—			331			—			331
Equity in income of unconsolidated entities	—			6,426			—			6,426
Financial services income before taxes	—			7,466			—			7,466
Income before taxes	45,261			294,557			—			339,818
Provision for income taxes	(22,501		)	(129,766		)	—			(152,267		)
Equity of net income (loss) of subsidiaries	164,431			—			(164,431		)	—
Net income (loss)	187,191			164,791			(164,431		)	187,551
Net income attributable to noncontrolling interests	—			(360		)	—			(360		)
Net income (loss) available to common stockholders	$	187,191		$	164,431		$	(164,431	)	$	187,191

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2019
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	88,832		$	227,148		$	—		$	315,980
Cash flows from investing activities:
Purchases of property and equipment	(9,469		)	(20,813		)	—			(30,282		)
Proceeds from sale of property and equipment	—			46			—			46
Investments in unconsolidated entities	—			(7,022		)	—			(7,022		)
Intercompany	186,115			—			(186,115		)	—
Net cash paid for acquisition	—			—			—			—
Net cash provided by (used in) investing activities	176,646			(27,789		)	(186,115		)	(37,258		)
Cash flows from financing activities:
Borrowings from debt	400,000			—			—			400,000
Repayment of debt	(531,895		)	—			—			(531,895		)
Debt issuance costs	(3,125		)	—			—			(3,125		)
Proceeds from issuance of common stock under share-based awards	449			—			—			449
Minimum tax withholding paid on behalf of employees for share-based awards	(3,612		)	—			—			(3,612		)
Share repurchases	(89,224		)	—			—			(89,224		)
Intercompany	—			(186,115		)	186,115			—
Net cash (used in) provided by financing activities	(227,407		)	(186,115		)	186,115			(227,407		)
Net increase in cash and cash equivalents	38,071			13,244			—			51,315
Cash and cash equivalents - beginning of year	148,129			129,567			—			277,696
Cash and cash equivalents - end of year	$	186,200		$	142,811		$	—		$	329,011

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2018
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	156,976		$	153,686		$	—		$	310,662
Cash flows from investing activities:
Purchases of property and equipment	(8,038		)	(23,613		)	—			(31,651		)
Proceeds from sale of property and equipment	—			8			—			8
Investments in unconsolidated entities	—			(2,274		)	—			(2,274		)
Intercompany	40,781			—			(40,781		)	—
Net cash paid for acquisition	—			(61,495		)	—			(61,495		)
Net cash provided by (used in) investing activities	32,743			(87,374		)	(40,781		)	(95,412		)
Cash flows from financing activities:
Borrowings from debt	125,000			—			—			125,000
Repayment of debt	(193,105		)	—			—			(193,105		)
Distributions to noncontrolling interests	—			(2,194		)	—			(2,194		)
Proceeds from issuance of common stock under share-based awards	1,943			—			—			1,943
Minimum tax withholding paid on behalf of employees for share-based awards	(6,049		)	—			—			(6,049		)
Share repurchases	(146,063		)	—			—			(146,063		)
Intercompany	—			(40,781		)	40,781			—
Net cash (used in) provided by financing activities	(218,274		)	(42,975		)	40,781			(220,468		)
Net decrease in cash and cash equivalents	(28,555		)	23,337			—			(5,218		)
Cash and cash equivalents - beginning of year	176,684			106,230			—			282,914
Cash and cash equivalents - end of year	$	148,129		$	129,567		$	—		$	277,696

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2017
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	73,208		$	28,466		$	—		$	101,674
Cash flows from investing activities:
Purchases of property and equipment	(1,424		)	(1,181		)	—			(2,605		)
Proceeds from sale of property and equipment	—			6			—			6
Investments in unconsolidated entities	—			(980		)	—			(980		)
Intercompany	(14,163		)	—			14,163			—
Net cash (used in) provided by investing activities	(15,587		)	(2,155		)	14,163			(3,579		)
Cash flows from financing activities:
Borrowings from debt	500,000			—			—			500,000
Repayment of debt	(413,726		)	—			—			(413,726		)
Debt issuance costs	(5,957		)	—			—			(5,957		)
Distributions to Weyerhaeuser	—			(1,333		)	—			(1,333		)
Proceeds from issuance of common stock under share-based awards	12,291			—			—			12,291
Minimum tax withholding paid on behalf of employees for share-based awards	(2,896		)	—			—			(2,896		)
Share repurchases	(112,217		)	—			—			(112,217		)
Intercompany	—			14,163			(14,163		)	—
Net cash (used in) provided by financing activities	(22,505		)	12,830			(14,163		)	(23,838		)
Net increase in cash and cash equivalents	35,116			39,141			—			74,257
Cash and cash equivalents - beginning of year	141,568			67,089			—			208,657
Cash and cash equivalents - end of year	$	176,684		$	106,230		$	—		$	282,914