Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 850,037	$ 487,151
Restricted cash	1,194	15
Total cash	851,231	487,166
Real estate inventory:
Owned inventory	6,046,468	6,162,889
Consolidated real estate not owned	94,195	71,195
Total real estate inventory	6,140,663	6,234,084
Land deposits	360,690	299,668
Mortgage loans held for sale	132,512	207,936
Lease right of use assets	60,800	68,057
Prepaid expenses and other assets, net	566,670	370,642
Other receivables, net	241,678	217,703
Investments in unconsolidated entities	486,978	439,721
Deferred tax assets, net	74,363	76,248
Property and equipment, net	259,015	232,709
Goodwill	663,197	663,197
Total assets of consolidated joint ventures	9,837,797	9,297,131
Liabilities
Accounts payable	251,641	270,266
Accrued expenses and other liabilities	682,500	632,250
Lease liabilities	71,525	78,998
Income taxes payable	8,146	2,243
Customer deposits	125,029	239,151
Estimated development liabilities	4,365	4,365
Senior notes, net	1,463,333	1,470,454
Loans payable and other borrowings	745,169	475,569
Revolving credit facility borrowings	0	0
Mortgage warehouse borrowings	82,605	174,460
Liabilities attributable to consolidated real estate not owned	94,195	71,195
Total liabilities	3,528,508	3,418,951
COMMITMENTS AND CONTINGENCIES (Note 13)
Stockholders' equity
Common stock, $0.00001 par value, 400,000,000 shares authorized, 162,809,286 and 162,061,709 shares issued, 96,536,827 and 102,241,978 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	1	1
Additional paid-in capital	3,114,898	3,086,342
Treasury stock at cost, 66,272,459 and 59,819,731 shares as of December 31, 2025 and December 31, 2024, respectively	(2,000,527)	(1,616,170)
Retained earnings	5,176,353	4,393,853
Accumulated other comprehensive income	2,597	2,509
Total stockholders’ equity attributable to TMHC	6,293,322	5,866,535
Non-controlling interests	15,967	11,645
Total stockholders’ equity	6,309,289	5,878,180
Total liabilities and owners’ equity	$ 9,837,797	$ 9,297,131