XML 42 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 158,295 $ 116,699
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:    
Deferred income tax expense 103,059 85,028
Depreciation and amortization 21,853 18,904
Share-based compensation expense 14,654 16,797
Equity in earnings of unconsolidated entities (2,271) (7,202)
Distributions of earnings from unconsolidated entities 1,500 4,777
Loss on debt retirements 0 8,584
Other non-cash, net 10,090 6,649
Increase (decrease) in cash due to:    
Restricted cash (4,526) (726)
Inventories (485,676) (249,861)
Residential mortgage loans available-for-sale 70,123 64,672
Other assets (57,054) (15,709)
Accounts payable, accrued and other liabilities (21,202) 38,539
Income tax liabilities 52 (12,869)
Net cash provided by (used in) operating activities (191,103) 74,282
Cash flows from investing activities:    
Distributions from unconsolidated entities 906 7,577
Investments in unconsolidated entities 0 (9)
Net change in loans held for investment 9,634 (6,791)
Change in restricted cash related to letters of credit 3,710 (28,166)
Proceeds from the sale of property and equipment 400 98
Capital expenditures (23,115) (33,021)
Net cash provided by (used in) investing activities (8,465) (60,312)
Cash flows from financing activities:    
Financial Services borrowings (repayments) (20,970) (47,158)
Other borrowings (repayments) (237,994) (240,133)
Stock option exercises 7,222 5,789
Share repurchases (322,066) (103,711)
Dividends paid (59,125) (38,152)
Net cash provided by (used in) financing activities (632,933) (423,365)
Net increase (decrease) in cash and equivalents (832,501) (409,395)
Cash and equivalents at beginning of period 1,292,862 1,580,329
Cash and equivalents at end of period 460,361 1,170,934
Supplemental Cash Flow Information:    
Interest paid (capitalized), net (1,911) (328)
Income taxes paid (refunded), net $ (1,685) $ (2,487)