Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$ 206,563		$ 229,045		$ 267,501
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in income of unconsolidated entities		(7,453)		(1,759)		(26,735)
Stock compensation expense	[1]	10,912		7,891		5,831
Loss on extinguishment of debt		0		33,317		0
Distributions of earnings from unconsolidated entities		4,261		2,204		32,966
Depreciation and amortization		3,972		4,107		4,090
Debt issuance costs amortization		3,843		4,442		5,149
Net income from discontinued operations		0		(58,059)		0
Gain on foreign currency forward		0		(29,983)		0
Contingent consideration		3,838		4,200		13,532
Deferred income taxes		26,854		24,702		(17,703)
Inventory impairments		3,473		0		0
Changes in operating assets and liabilities:
Real estate inventory and land deposits		166,343		(424,607)		(310,550)
Mortgages held for sale, prepaid expenses and other assets		(21,052)		(69,650)		(141,785)
Customer deposits		18,791		19,961		(11,378)
Accounts payable, accrued expenses and other liabilities		(20,479)		2,996		33,947
Income taxes payable		(27,264)		(11,495)		11,445
Net cash provided by (used in) operating activities		372,602		(262,688)		(133,690)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(1,908)		(4,298)		(3,723)
Payments for business acquisitions		(52,819)		(225,800)		0
Distribution from unconsolidated entities		6,087		10,063		1,728
Change in restricted cash		(353)		30		10,743
Investments of capital into unconsolidated entities		(32,357)		(28,664)		(98,199)
Proceeds from sale of discontinued operations		0		268,853		0
Proceeds from settlement of foreign currency forward, net		0		29,983		0
Net cash (used in) provided by investing activities		(81,350)		50,167		(89,451)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in loans payable and other borrowings		33,360		51,909		41,990
Repayments of loans payable and other borrowings		(17,935)		(64,601)		(194,660)
Borrowings on revolving credit facility		255,000		480,000		253,000
Payments on revolving credit facility		(370,000)		(405,000)		(213,000)
Borrowings on mortgage warehouse		1,200,449		910,516		658,708
Repayment on mortgage warehouse		(1,185,329)		(887,822)		(572,850)
Proceeds from the issuance of senior notes		0		350,000		350,000
Repayments on senior notes		0		(513,608)		0
Payment of deferred financing costs		0		(4,538)		(6,255)
Payment of contingent consideration		(3,100)		(3,050)		(5,250)
Proceeds from stock option exercises		146		0		0
Repurchase of common stock, net		(28,543)		(15,000)		0
Distributions to non-controlling interests of consolidated joint ventures, net		(1,309)		(1,811)		(2,356)
Net cash (used in) provided by financing activities		(117,261)		(103,005)		309,327
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		0		(20,491)		(13,162)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS		173,991		(336,017)		73,024
CASH AND CASH EQUIVALENTS — Beginning of period (2)		126,188	[2]	462,205	[2]	389,181
CASH AND CASH EQUIVALENTS — End of period	[2]	300,179		126,188		462,205
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net		(107,961)		(90,764)		(99,071)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Change in loans payable issued to sellers in connection with land purchase contracts		63,075		16,470		(88,893)
Original accrual of contingent consideration for business combinations		380		3,200		0
Non-cash portion of loss on debt extinguishment		$ 0		$ 5,102		$ 0

[1] Stock compensation expense shown here is exclusive of stock compensation expense related to discontinued operations.

[2] Cash and cash equivalents shown here include the cash of Monarch Corporation. For the years ended December 31, 2014 and 2013, cash held at Monarch was $227,988 and $195,663, respectively.