Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 88,411	$ 26,333
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	12,176	11,561
Equity in income of unconsolidated entities, net	(4,449)	(2,696)
Deferred income taxes, net	10,160	3,097
Amortization of stock-based compensation	7,411	6,786
Charges for impairments and lot option abandonments	1,729	5,490
Changes in assets and liabilities:
Real estate inventories	53,902	(50,700)
Receivables	(18,304)	(6,778)
Other assets	3,677	(1,774)
Accounts payable	4,966	(18,221)
Accrued expenses and other liabilities	(5,784)	(80,964)
Returns on investments in unconsolidated entities, net	5,475	3,927
Loss on extinguishment of debt	6,858	0
Net cash provided by (used in) operating activities	166,228	(103,939)
Cash flows from investing activities:
Purchases of property and equipment	(12,002)	(13,142)
Proceeds from sale of property and equipment	17	46
Investments in unconsolidated entities	(25,715)	(712)
Net cash used in investing activities	(37,700)	(13,808)
Cash flows from financing activities:
Borrowings from debt	850,000	400,000
Repayment of debt	(721,673)	(381,895)
Debt issuance costs	(4,768)	(3,125)
Proceeds from issuance of common stock under share-based awards	921	199
Minimum tax withholding paid on behalf of employees for share-based awards	(5,473)	(3,612)
Share repurchases	(102,001)	0
Net cash provided by financing activities	17,006	11,567
Net increase (decrease) in cash and cash equivalents	145,534	(106,180)
Cash and cash equivalents–beginning of period	329,011	277,696
Cash and cash equivalents–end of period	$ 474,545	$ 171,516