Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2020


	Supplemental Condensed Consolidated Balance Sheet
	As of March 31, 2020 (in thousands)

			Guarantor		Non Guarantor		Elimination		Consolidated
	Century		Subsidiaries		Subsidiaries		Entries		Century
Assets
Cash and cash equivalents	$	401,069		6,404		43,500		—	$	450,973
Cash held in escrow		—		22,497		—		—		22,497
Accounts receivable		8,000		13,684		19,003		(17,600)		23,087
Investment in consolidated subsidiaries		2,097,867		—		—		(2,097,867)		—
Inventories		—		2,074,509		—		—		2,074,509
Mortgage loans held for sale		—		—		141,846		—		141,846
Prepaid expenses and other assets		9,449		95,096		16,472		—		121,017
Deferred tax assets, net		11,110		—		—		—		11,110
Property and equipment, net		15,240		18,595		1,169		—		35,004
Goodwill		—		30,395		—		—		30,395
Total assets	$	2,542,735	$	2,261,180	$	221,990	$	(2,115,467)	$	2,910,438
Liabilities and stockholders’ equity
Liabilities:
Accounts payable	$	588		38,963		619		—	$	40,170
Accrued expenses and other liabilities		44,919		189,848		13,708		(17,600)		230,875
Notes payable		890,795		8,371		—		—		899,166
Revolving line of credit		521,900		—		—		—		521,900
Mortgage repurchase facilities		—		—		133,794		—		133,794
Total liabilities		1,458,202		237,182		148,121		(17,600)		1,825,905
Stockholders’ equity:		1,084,533		2,023,998		73,869		(2,097,867)		1,084,533
Total liabilities and stockholders’ equity	$	2,542,735	$	2,261,180	$	221,990	$	(2,115,467)	$	2,910,438


	Supplemental Condensed Consolidated Balance Sheet
	As of December 31, 2019 (in thousands)

			Guarantor		Non Guarantor		Elimination		Consolidated
	Century		Subsidiaries		Subsidiaries		Entries		Century
Assets
Cash and cash equivalents	$	1,577		—		53,859		—	$	55,436
Cash held in escrow		—		35,308		—		—		35,308
Accounts receivable		15,363		12,327		(252)		—		27,438
Investment in consolidated subsidiaries		1,996,703		—		—		(1,996,703)		—
Inventories		—		1,995,549		—		—		1,995,549
Mortgage loans held for sale		—		—		185,246		—		185,246
Prepaid expenses and other assets		9,539		101,321		13,148		—		124,008
Deferred tax assets, net		10,589		—		—		—		10,589
Property and equipment, net		15,256		19,614		1,128		—		35,998
Goodwill		—		30,395		—		—		30,395
Total assets	$	2,049,027	$	2,194,514	$	253,129	$	(1,996,703)	$	2,499,967
Liabilities and stockholders’ equity
Liabilities:
Accounts payable	$	(13)		83,853		954		—	$	84,794
Accrued expenses and other liabilities		28,214		173,403		12,358		—		213,975
Notes payable		890,427		6,277		—		—		896,704
Revolving line of credit		68,700		—		—		—		68,700
Mortgage repurchase facilities		—		—		174,095		—		174,095
Total liabilities		987,328		263,533		187,407		—		1,438,268
Stockholders’ equity:		1,061,699		1,930,981		65,722		(1,996,703)		1,061,699
Total liabilities and stockholders’ equity	$	2,049,027	$	2,194,514	$	253,129	$	(1,996,703)	$	2,499,967

‎


		Supplemental Condensed Consolidated Statement of Operations
	For the Three Months Ended March 31, 2020 (in thousands)

				Guarantor		Non Guarantor		Elimination		Consolidated
		Century		Subsidiaries		Subsidiaries		Entries		CCS
Revenues
Homebuilding revenues
Home sales revenues		$	—	$	572,710	$	—	$	—	$	572,710
Land sales and other revenues			—		20,104		—		—		20,104
Total homebuilding revenues			—		592,814		—		—		592,814
Financial services revenue			—		—		9,795		—		9,795
Total revenues			—		592,814		9,795		—		602,609
Homebuilding cost of revenues
Cost of home sales revenues			—		(470,526)		—		—		(470,526)
Cost of land sales and other revenues			—		(14,167)		—		—		(14,167)
Total homebuilding cost of revenues			—		(484,693)		—		—		(484,693)
Financial services costs			—		—		(9,586)		—		(9,586)
Selling, general and administrative			(13,475)		(60,144)		—		—		(73,619)
Inventory impairment			—		(781)		—		—		(781)
Equity in earnings from consolidated subsidiaries			35,428		—		—		(35,428)		—
Other income (expense)			326		(304)		136		—		158
Income before income tax expense			22,279		46,892		345		(35,428)		34,088
Income tax expense			3,847		(11,723)		(86)		—		(7,962)
Net income		$	26,126	$	35,169	$	259	$	(35,428)	$	26,126


		Supplemental Condensed Consolidated Statement of Operations
	For the Three Months Ended March 31, 2019 (in thousands)

				Guarantor		Non Guarantor		Elimination		Consolidated
		Century		Subsidiaries		Subsidiaries		Entries		Century
Revenues
Homebuilding revenues
Home sales revenues		$	—	$	523,302	$	—	$	—	$	523,302
Land sales and other revenues			—		1,355		—		—		1,355
Total homebuilding revenues			—		524,657		—		—		524,657
Financial services revenue			—		—		8,400		—		8,400
Total revenues			—		524,657		8,400		—		533,057
Homebuilding cost of revenues
Cost of home sales revenues			—		(433,757)		—		—		(433,757)
Cost of land sales and other revenues			—		(614)		—		—		(614)
Total homebuilding cost of revenues			—		(434,371)		—		—		(434,371)
Financial services costs			—		—		(6,829)		—		(6,829)
Selling, general and administrative			(18,655)		(50,281)		—		—		(68,936)
Equity in earnings from consolidated subsidiaries			31,163		—		—		(31,163)		—
Other income (expense)			101		(45)		20		—		76
Income before income tax expense			12,609		39,960		1,591		(31,163)		22,997
Income tax expense			4,508		(9,990)		(398)		—		(5,880)
Net income		$	17,117	$	29,970	$	1,193	$	(31,163)	$	17,117


	Supplemental Condensed Consolidated Statement of Cash Flows
	For the Three Months Ended March 31, 2020 (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	Century		Subsidiaries		Subsidiaries		Entries		Century
Net cash provided by/(used in) operating activities	$	(652)	$	(33,043)	$	21,319	$	—	$	(12,376)
Net cash provided by/(used in) investing activities	$	(48,079)	$	(1,670)	$	(146)	$	47,268	$	(2,627)
Financing activities
Borrowings under revolving credit facilities	$	678,000		—		—		—	$	678,000
Payments on revolving credit facilities		(224,800)		—		—		—		(224,800)
Principal payments on notes payable		—		(2,043)		—		—		(2,043)
Proceeds from insurance notes payable		—		4,137		—		—		4,137
Net proceeds from mortgage repurchase facilities		—		—		(40,302)		—		(40,302)
Repurchases of common stock upon vesting of stock-based compensation		(4,977)		—		—		—		(4,977)
Repurchases of common stock under our stock repurchase program		—		—		—		—		—
Payments from (and advances to) parent/subsidiary		—		39,379		7,889		(47,268)		—
Net cash provided by/(used in) financing activities	$	448,223	$	41,473	$	(32,413)	$	(47,268)	$	410,015
Net increase (decrease)	$	399,492	$	6,760	$	(11,240)	$	—	$	395,012

Cash and cash equivalents and restricted cash
Beginning of period	$	1,577		341		56,604		—	$	58,522
End of period	$	401,069	$	7,101	$	45,364	$	—	$	453,534

Cash and cash equivalents	$	401,069		6,404		43,500		—	$	450,973
Restricted Cash		—		697		1,864		—		2,561
Cash and cash equivalents and Restricted cash	$	401,069	$	7,101	$	45,364	$	—	$	453,534


	Supplemental Condensed Consolidated Statement of Cash Flows
	For the Three Months Ended March 31, 2019 (in thousands)
			Guarantor		Non Guarantor		Elimination		Consolidated
	Century		Subsidiaries		Subsidiaries		Entries		Century
Net cash provided by/(used in) operating activities	$	(36,731)	$	(36,216)	$	13,547	$	—	$	(59,400)
Net cash provided by/(used in) investing activities		(44,704)	$	(2,031)	$	67	$	43,384	$	(3,284)
Financing activities										—
Borrowings under revolving credit facilities	$	288,800		—		—		—	$	288,800
Payments on revolving credit facilities		(204,300)		—		—		—		(204,300)
Principal payments on notes payable		—		(7,716)		—		—		(7,716)
Proceeds from insurance notes payable		—		9,301		—		—		9,301
Net proceeds from mortgage repurchase facilities		—		—		(13,689)		—		(13,689)
Repurchases of common stock upon vesting of stock-based compensation		(3,166)		—		—		—		(3,166)
Repurchases of common stock under our stock repurchase program		(1,439)		—		—		—		(1,439)
Payments from (and advances to) parent/subsidiary		—		36,890		6,494		(43,384)		—
Net cash provided by/(used in) financing activities	$	79,895	$	38,475	$	(7,195)	$	(43,384)	$	67,791
Net increase (decrease)	$	(1,540)	$	228	$	6,419	$	—	$	5,107

Cash and cash equivalents and restricted cash
Beginning of period	$	2,183		4,006		30,252		—	$	36,441
End of period	$	643	$	4,234	$	36,671	$	—	$	41,548

Cash and cash equivalents	$	643		2,596		34,876		—	$	38,115
Restricted Cash		—		1,638		1,795		—		3,433
Cash and cash equivalents and Restricted cash	$	643	$	4,234	$	36,671	$	—	$	41,548