XML 45 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 257,244 $ 2,400,063
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:    
Deferred income taxes 164,460 (2,108,756)
Depreciation and amortization 28,864 23,134
Stock-based compensation expense 21,290 21,570
Equity in (earnings) loss of unconsolidated entities (7,483) (282)
Distributions of earnings from unconsolidated entities 4,824 1,693
Loss on debt retirements 8,584 26,930
Other non-cash, net 8,211 12,314
Increase (decrease) in cash due to:    
Restricted cash (689) 1,654
Inventories (384,571) 89,040
Residential mortgage loans available-for-sale 49,600 21,967
Other assets (12,802) (29,989)
Accounts payable, accrued and other liabilities 74,102 97,607
Income tax liabilities (9,799) (1,995)
Net cash provided by (used in) operating activities 201,835 554,950
Cash flows from investing activities:    
Distributions from unconsolidated entities 7,624 200
Investments in unconsolidated entities (9) (1,057)
Net change in loans held for investment (6,338) 236
Change in restricted cash related to letters of credit 48,401 875
Proceeds from the sale of property and equipment 83 9
Capital expenditures (41,888) (18,354)
Cash used for business acquisitions (77,469) 0
Net cash provided by (used in) investing activities (69,596) (18,091)
Cash flows from financing activities:    
Financial Services borrowings (repayments) (34,070) (23,697)
Other borrowings (repayments) (250,631) (477,220)
Stock option exercises 6,034 18,549
Stock repurchases (155,140) (89,940)
Dividends paid (56,944) (19,317)
Net cash provided by (used in) financing activities (490,751) (591,625)
Net increase (decrease) in cash and equivalents (358,512) (54,766)
Cash and equivalents at beginning of period 1,580,329 1,404,760
Cash and equivalents at end of period 1,221,817 1,349,994
Supplemental Cash Flow Information:    
Interest paid (capitalized), net (23,236) (18,304)
Income taxes paid (refunded), net $ (1,054) $ (792)