Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Schedule of Other Expense (Income), Net

Other expense, net consists of the following ($000’s omitted):

	2017			2016			2015
Write-offs of deposits and pre-acquisition costs (Note 2)	$	11,367		$	17,157		$	5,021
Lease exit and related costs (a)	1,729			11,643			2,463
Amortization of intangible assets (Note 1)	13,800			13,800			12,900
Interest income	(2,537		)	(3,236		)	(3,107		)
Interest expense	503			686			788
Equity in (earnings) loss of unconsolidated entities (Note 4) (b)	1,985			(8,337		)	(7,355		)
Miscellaneous, net (c)	1,104			17,101			6,653
Total other expense, net	$	27,951		$	48,814		$	17,363

(a) Lease exit and related costs resulted from actions taken to reduce overheads and the substantial completion of our corporate headquarters relocation from Michigan to Georgia, which began in 2013.

(b) Includes an $8.0 million impairment of an investment in an unconsolidated entity in 2017 (see Note 2).

(c) Miscellaneous, net includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction and a charge of $20.0 million in 2015 resulting from the Applecross matter (see Note 11).

Schedule of Earnings Per Share of Common Stock

The following table presents the earnings per common share (000's omitted, except per share data):

	December 31, 2017			December 31, 2016			December 31, 2015
Numerator:
Net income	$	447,221		$	602,703		$	494,090
Less: earnings distributed to participating securities	(1,192		)	(1,100		)	(755		)
Less: undistributed earnings allocated to participating securities	(3,380		)	(3,622		)	(2,448		)
Numerator for basic earnings per share	$	442,649		$	597,981		$	490,887
Add back: undistributed earnings allocated to participating securities	3,380			3,622			2,448
Less: undistributed earnings reallocated to participating securities	(3,361		)	(3,602		)	(2,429		)
Numerator for diluted earnings per share	$	442,668		$	598,001		$	490,906
Denominator:
Basic shares outstanding	305,089			339,747			356,576
Effect of dilutive securities	1,725			2,376			3,217
Diluted shares outstanding	306,814			342,123			359,793
Earnings per share:
Basic	$	1.45		$	1.76		$	1.38
Diluted	$	1.44		$	1.75		$	1.36

Schedule Of Company Interests In Land Option Agreements

The following provides a summary of our interests in land option agreements ($000’s omitted):

	December 31, 2017				December 31, 2016
	Deposits and Pre-acquisition Costs		Remaining Purchase Price		Deposits and Pre-acquisition Costs		Remaining Purchase Price
Land options with VIEs	$	78,889	$	977,480	$	68,527	$	849,901
Other land options	129,098		1,485,099		126,909		1,252,662
	$	207,987	$	2,462,579	$	195,436	$	2,102,563

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair values of derivative instruments and their location in the Consolidated Balance Sheets are summarized below ($000’s omitted):

	December 31, 2017				December 31, 2016
	Other Assets		Other Liabilities		Other Assets		Other Liabilities
Interest rate lock commitments	$	5,990	$	407	$	9,194	$	501
Forward contracts	432		817		8,085		1,004
Whole loan commitments	794		941		1,135		863
	$	7,216	$	2,165	$	18,414	$	2,368