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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:        
Net income $ 54,593 $ 63,899 $ 95,143 $ 102,663
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Stock-based compensation expense     8,383 6,075
Depreciation and amortization     9,941 9,952
Inventory impairments 0 200 610 750
Net gain on marketable equity securities (2,327) (1,278) (7,167) (125)
Amortization of discount / premiums on marketable debt securities, net     0 (366)
Deferred income tax expense     7,759 3,557
Net changes in assets and liabilities:        
Trade and other receivables     (36) (2,317)
Mortgage loans held-for-sale, net     39,874 30,929
Prepaid and other assets     (4,206) (5,108)
Accounts payable and accrued liabilities     (546) 15,835
Net cash provided by (used in) operating activities     55,665 (56,188)
Investing Activities:        
Purchases of marketable securities     (5,116) (14,659)
Maturities of marketable securities     0 50,000
Sales of marketable securities     5,057 12,460
Purchases of property and equipment     (13,860) (13,051)
Net cash provided by (used in) investing activities     (13,919) 34,750
Financing Activities:        
Payments on mortgage repurchase facility, net     (33,776) (31,521)
Dividend payments     (35,636) (33,793)
Proceeds from exercise of stock options     17,328 5,835
Net cash used in financing activities     (52,084) (59,479)
Net decrease in cash, cash equivalents and restricted cash     (10,338) (80,917)
Cash, cash equivalents and restricted cash:        
Beginning of period     470,139 514,240
End of period 459,801 433,323 459,801 433,323
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 459,801 433,323 459,801 433,323
End of period 459,801 433,323 459,801 433,323
Homebuilding Segment [Member]        
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Inventory impairments (0) 200 610 750
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 390,061 378,219 390,061 378,219
Restricted cash 12,911 7,443 12,911 7,443
Financial Services Segment [Member]        
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents $ 56,829 $ 47,661 56,829 47,661
Housing Completed or Under Construction [Member]        
Net changes in assets and liabilities:        
Housing completed or under construction and land under development     (118,528) (133,576)
Land and Land Under Development [Member]        
Net changes in assets and liabilities:        
Housing completed or under construction and land under development     $ 24,438 $ (84,457)