XML 51 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 116,699 $ 118,179
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:    
Deferred income taxes 85,028 0
Depreciation and amortization 18,904 15,084
Stock-based compensation expense 16,797 15,765
Equity in (earnings) loss of unconsolidated entities (7,202) 503
Distributions of earnings from unconsolidated entities 4,777 1,298
Loss on debt retirements 8,584 23,072
Other non-cash, net 6,649 8,986
Increase (decrease) in cash due to:    
Restricted cash (726) 1,285
Inventories (249,861) 32,920
Residential mortgage loans available-for-sale 64,672 81,336
Other assets (15,709) (32,607)
Accounts payable, accrued and other liabilities 38,539 67,463
Income tax liabilities (12,869) 1,781
Net cash provided by (used in) operating activities 74,282 335,065
Cash flows from investing activities:    
Distributions from unconsolidated entities 7,577 200
Investments in unconsolidated entities (9) (807)
Net change in loans held for investment (6,791) 18
Change in restricted cash related to letters of credit (28,166) 4,222
Proceeds from the sale of property and equipment 98 9
Capital expenditures (33,021) (11,017)
Net cash provided by (used in) investing activities (60,312) (7,375)
Cash flows from financing activities:    
Financial Services borrowings (repayments) (47,158) (78,929)
Proceeds from (Repayments of) Debt (240,133) (452,950)
Stock option exercises 5,789 18,544
Stock repurchases (103,711) (6,447)
Dividends paid (38,152) 0
Net cash provided by (used in) financing activities (423,365) (519,782)
Net increase (decrease) in cash and equivalents (409,395) (192,092)
Cash and equivalents at beginning of period 1,580,329 1,404,760
Cash and equivalents at end of period 1,170,934 1,212,668
Supplemental Cash Flow Information:    
Interest paid (capitalized), net (328) 2,309
Income taxes paid (refunded), net $ (2,487) $ (2,471)