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Business Combinations (Tables)
9 Months Ended
Sep. 30, 2018
UCP, Inc [Member]  
Business Combinations [Line Items]  
Summary Of Total Consideration

 

 

 

 

UCP shares (including noncontrolling interest) as of August 3, 2017

 

 

18,085 

Cash paid per share

 

$

5.32 

Cash consideration

 

$

96,213 

Cash consideration pertaining to stockholder exercising appraisal rights

 

$

3,937 

Total cash consideration

 

$

100,150 



 

 

 

UCP shares (including noncontrolling interest) as of August 3, 2017

 

 

18,085 

Exchange ratio

 

 

0.2309 

Number of CCS shares issued

 

 

4,176 

Closing price of CCS common stock on August 3, 2017

 

$

25.80 

Consideration attributable to common stock

 

$

107,737 

Total replacement award value

 

$

1,149 

Total equity consideration

 

$

108,886 



 

 

 

Total consideration in cash and equity

 

$

209,036 



Schedule Of Fair Values Of Assets Acquired And Liabilities Assumed



 

 

Cash and cash equivalents

$

20,264 

Accounts receivable

 

7,897 

Inventories

 

390,234 

Prepaid expenses and other assets

 

6,988 

Property and equipment, net

 

717 

Deferred tax asset, net

 

11,984 

Goodwill

 

5,713 

Total assets

$

443,797 



 

 

Accounts payable

$

10,712 

Accrued expenses and other liabilities

 

71,130 

Notes payable

 

152,919 

Total liabilities

 

234,761 

Purchase price/Net equity

$

209,036 



Pro Forma Financial Information [Abstract]  
Schedule Of Pro Forma Information



 

 

 

 

 



Three months ended September 30,

 

Nine months ended September 30,



2017

 

2017

Total revenues

$

507,008 

 

$

1,373,689 



 

 

 

 

 

Income before tax expense

$

30,107 

 

$

91,445 

Tax expense

 

(9,390)

 

 

(23,496)

Net income

$

20,717 

 

$

67,949 

Less: Undistributed earnings allocated to participating securities

 

(108)

 

 

(520)

Numerator for basic and diluted pro forma earnings per share

$

20,609 

 

$

67,429 



 

 

 

 

 

Pro forma weighted average shares-basic

 

27,034,192 

 

 

26,342,362 

Pro forma weighted average shares-diluted

 

27,314,777 

 

 

26,579,292 



 

 

 

 

 

Pro forma basic earnings per share

$

0.76 

 

$

2.56 

Pro forma diluted earnings per share

$

0.75 

 

$

2.54 



Sundquist Homes [Member]  
Business Combinations [Line Items]  
Schedule Of Fair Values Of Assets Acquired And Liabilities Assumed



 

 

Accounts receivable

$

11 

Inventories

 

55,077 

Prepaid expenses and other assets

 

1,050 

Property and equipment, net

 

142 

Total assets

$

56,280 



 

 

Accounts payable

$

3,646 

Accrued expenses and other liabilities

 

2,431 

Total liabilities

 

6,077 

Purchase price/Net equity

$

50,203 



Wade Jurney Homes [Member]  
Business Combinations [Line Items]  
Schedule Of Total Consideration Transferred



 

 

 

Cash consideration transferred for 50% ownership interest

 

$

37,500 

Previously held equity interest acquisition date fair value

 

 

35,625 

Net assets acquired

 

$

73,125 



Schedule Of Fair Values Of Assets Acquired And Liabilities Assumed



 

 

Cash and cash equivalents

$

9,464 

Cash held in escrow

 

260 

Accounts receivable

 

1,042 

Inventories

 

156,828 

Prepaid expenses and other assets

 

7,710 

Amortizable intangible assets

 

3,375 

Goodwill

 

3,542 



$

182,221 



 

 

Accounts payable

$

12,516 

Accrued expenses and other liabilities

 

2,349 

Senior notes and revolving line of credit

 

94,231 

Total liabilities

 

109,096 

Net assets acquired

$

73,125 



Pro Forma Financial Information [Abstract]  
Schedule Of Pro Forma Information



 

 



Nine months ended

September 30,



2018

Total revenues

$

1,645,858 



 

 

Income before tax expense

$

87,092 

Tax expense

 

(21,773)

Net income

$

65,319 

Less: Undistributed earnings allocated to participating securities

 

(54)

Numerator for basic and diluted pro forma EPS

$

65,265 



 

 

Pro forma weighted average shares-basic

 

29,885,858 

Pro forma weighted average shares-diluted

 

30,189,058 



 

 

Pro forma basic EPS

$

2.18 

Pro forma diluted EPS

$

2.16