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Supplemental Guarantor Information (Tables)
 12 Months Ended
Dec. 31, 2019
Supplemental Guarantor Information [Abstract]  
Consolidating Balance Sheet
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2019
($000’s omitted)
 
Unconsolidated
 
Eliminating
Entries
 
Consolidated
PulteGroup,
Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
ASSETS
 
 
 
 
 
 
 
 
 
Cash and equivalents
$
—

 
$
1,026,743

 
$
191,170

 
$
—

 
$
1,217,913

Restricted cash
—

 
31,328

 
2,215

 
—

 
33,543

Total cash, cash equivalents, and
       restricted cash
—

 
1,058,071

 
193,385

 
—

 
1,251,456

House and land inventory
—

 
7,554,662

 
125,952

 
—

 
7,680,614

Land held for sale
—

 
24,009

 
—

 
—

 
24,009

Residential mortgage loans available-
       for-sale
—

 
—

 
508,967

 
—

 
508,967

Investments in unconsolidated entities
—

 
59,266

 
500

 
—

 
59,766

Other assets
8,172

 
688,996

 
198,518

 


 
895,686

Intangible assets
—

 
124,992

 
—

 
—

 
124,992

Deferred tax assets, net
182,461

 
—

 
(12,354
)
 
—

 
170,107

Investments in subsidiaries and
       intercompany accounts, net
8,103,191

 
1,081,472

 
9,279,403

 
(18,464,066
)
 
—

 
$
8,293,824

 
$
10,591,468

 
$
10,294,371

 
$
(18,464,066
)
 
$
10,715,597

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable, customer deposits,
       accrued and other liabilities
$
87,892

 
$
1,781,893

 
$
259,926

 
$
—

 
$
2,129,711

Income tax liabilities
36,093

 
—

 
—

 
—

 
36,093

Financial Services debt
—

 
—

 
326,573

 
—

 
326,573

Notes payable

2,711,659

 
53,381

 
—

 
—

 
2,765,040

Total liabilities
2,835,644

 
1,835,274

 
586,499

 
—

 
5,257,417

Total shareholders’ equity
5,458,180

 
8,756,194

 
9,707,872

 
(18,464,066
)
 
5,458,180

 
$
8,293,824

 
$
10,591,468

 
$
10,294,371

 
$
(18,464,066
)
 
$
10,715,597

CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2018
($000’s omitted)
 
Unconsolidated
 
Eliminating
Entries
 
Consolidated
PulteGroup,
Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
ASSETS
 
 

 

 
 
 
 
Cash and equivalents
$
—

 
$
906,961

 
$
203,127

 
$
—

 
$
1,110,088

Restricted cash
—

 
22,406

 
1,206

 
—

 
23,612

Total cash, cash equivalents, and
       restricted cash
—

 
929,367

 
204,333

 
—

 
1,133,700

House and land inventory
—

 
7,157,665

 
95,688

 
—

 
7,253,353

Land held for sale
—

 
36,849

 
—

 
—

 
36,849

Residential mortgage loans available-
       for-sale
—

 
—

 
461,354

 
—

 
461,354

Investments in unconsolidated entities
—

 
54,045

 
545

 
—

 
54,590

Other assets
66,154

 
579,452

 
184,753

 
—

 
830,359

Intangible assets
—

 
127,192

 
—

 
—

 
127,192

Deferred tax assets, net
282,874

 
—

 
(7,295
)
 
—

 
275,579

Investments in subsidiaries and
       intercompany accounts, net
7,557,245

 
500,138

 
8,231,342

 
(16,288,725
)
 
—

 
$
7,906,273

 
$
9,384,708

 
$
9,170,720

 
$
(16,288,725
)
 
$
10,172,976

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable, customer deposits,
       accrued and other liabilities
$
90,158

 
$
1,598,265

 
$
278,713

 
$
—

 
$
1,967,136

Income tax liabilities
11,580

 
—

 
—

 
—

 
11,580

Financial Services debt
—

 
—

 
348,412

 
—

 
348,412

Notes payable
2,986,753

 
40,776

 
537

 
—

 
3,028,066

Total liabilities
3,088,491

 
1,639,041

 
627,662

 
—

 
5,355,194

Total shareholders’ equity
4,817,782

 
7,745,667

 
8,543,058

 
(16,288,725
)
 
4,817,782

 
$
7,906,273

 
$
9,384,708

 
$
9,170,720

 
$
(16,288,725
)
 
$
10,172,976
Consolidating Statement Of Operations and Comprehensive Income (Loss)
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the year ended December 31, 2019
($000’s omitted)
 
Unconsolidated
 
 
 
Consolidated
PulteGroup, 
Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminating
Entries
 
Revenues:
 
 
 
 
 
 
 
 
 
Homebuilding
 
 
 
 
 
 
 
 
 
Home sale revenues
$
—

 
$
9,725,421

 
$
190,284

 
$
—

 
$
9,915,705

Land sale and other revenues
—

 
61,282

 
1,539

 
—

 
62,821

 
—

 
9,786,703

 
191,823

 
—

 
9,978,526

Financial Services
—

 
—

 
234,431

 
—

 
234,431

 
—

 
9,786,703

 
426,254

 
—

 
10,212,957

Homebuilding Cost of Revenues:
 
 
 
 
 
 
 
 
 
Home sale cost of revenues
—

 
(7,485,268
)
 
(143,432
)
 
—

 
(7,628,700
)
Land sale cost of revenues
—

 
(54,143
)
 
(1,955
)
 
—

 
(56,098
)
 
—

 
(7,539,411
)
 
(145,387
)
 
—

 
(7,684,798
)
Financial Services expenses
—

 
(483
)
 
(130,287
)
 
—

 
(130,770
)
Selling, general, and administrative
       expenses
—

 
(994,262
)
 
(50,075
)
 
—

 
(1,044,337
)
Other expense, net
(5,423
)
 
(46,490
)
 
38,437

 
—

 
(13,476
)
Intercompany interest
(8,194
)
 
—

 
8,194

 
—

 
—

Income (loss) before income taxes and
       equity in income (loss) of
       subsidiaries
(13,617
)
 
1,206,057

 
147,136

 
—

 
1,339,576

Income tax (expense) benefit
3,404

 
(289,102
)
 
(37,178
)
 
—

 
(322,876
)
Income (loss) before equity in income
       (loss) of subsidiaries
(10,213
)
 
916,955

 
109,958

 
—

 
1,016,700

Equity in income (loss) of subsidiaries
1,026,913

 
120,622

 
962,865

 
(2,110,400
)
 
—

Net income (loss)
1,016,700

 
1,037,577

 
1,072,823

 
(2,110,400
)
 
1,016,700

Other comprehensive income (loss)
100

 
—

 
—

 
—

 
100

Comprehensive income (loss)
$
1,016,800

 
$
1,037,577

 
$
1,072,823

 
$
(2,110,400
)
 
$
1,016,800


CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the year ended December 31, 2018
($000’s omitted)
 
Unconsolidated
 
 
 
Consolidated
PulteGroup, 
Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminating
Entries
 
Revenues:
 
 
 
 
 
 
 
 
 
Homebuilding
 
 
 
 
 
 
 
 
 
Home sale revenues
$
—

 
$
9,694,703

 
$
123,742

 
$
—

 
$
9,818,445

Land sale and other revenues
—

 
162,012

 
2,492

 
—

 
164,504

 
—

 
9,856,715

 
126,234

 
—

 
9,982,949

Financial Services
—

 
—

 
205,382

 
—

 
205,382

 
—

 
9,856,715

 
331,616

 
—

 
10,188,331

Homebuilding Cost of Revenues:
 
 
 
 
 
 
 
 
 
Home sale cost of revenues
—

 
(7,449,343
)
 
(91,594
)
 
—

 
(7,540,937
)
Land sale cost of revenues
—

 
(125,016
)
 
(1,544
)
 
—

 
(126,560
)
 
—

 
(7,574,359
)
 
(93,138
)
 
—

 
(7,667,497
)
Financial Services expenses
—

 
(563
)
 
(146,859
)
 
—

 
(147,422
)
Selling, general, and administrative
       expenses
—

 
(974,858
)
 
(37,165
)
 
—

 
(1,012,023
)
Other expense, net
(580
)
 
(53,765
)
 
40,496

 
—

 
(13,849
)
Intercompany interest
(7,835
)
 
—

 
7,835

 
—

 
—

Income (loss) before income taxes and
       equity in income (loss) of
       subsidiaries
(8,415
)
 
1,253,170

 
102,785

 
—

 
1,347,540

Income tax (expense) benefit
2,104

 
(304,218
)
 
(23,403
)
 
—

 
(325,517
)
Income (loss) before equity in income
       (loss) of subsidiaries
(6,311
)
 
948,952

 
79,382

 
—

 
1,022,023

Equity in income (loss) of subsidiaries
1,028,334

 
73,097

 
782,948

 
(1,884,379
)
 
—

Net income (loss)
1,022,023

 
1,022,049

 
862,330

 
(1,884,379
)
 
1,022,023

Other comprehensive income (loss)
100

 
—

 
—

 
—

 
100

Comprehensive income (loss)
$
1,022,123

 
$
1,022,049

 
$
862,330

 
$
(1,884,379
)
 
$
1,022,123

CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the year ended December 31, 2017
($000’s omitted)
 
Unconsolidated
 
Eliminating
Entries
 
Consolidated
PulteGroup, 
Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Revenues:
 
 
 
 
 
 
 
 
 
Homebuilding
 
 
 
 
 
 
 
 
 
Home sale revenues
$
—

 
$
8,229,392

 
$
94,592

 
$
—

 
$
8,323,984

Land sale and other revenues
—

 
57,711

 
3,831

 
—

 
61,542

 
—

 
8,287,103

 
98,423

 
—

 
8,385,526

Financial Services
—

 
—

 
192,160

 
—

 
192,160

 
—

 
8,287,103

 
290,583

 
—

 
8,577,686

Homebuilding Cost of Revenues:
 
 
 
 
 
 
 
 
 
Home sale cost of revenues
—

 
(6,385,167
)
 
(75,985
)
 
—

 
(6,461,152
)
Land sale cost of revenues
—

 
(131,363
)
 
(3,086
)
 
—

 
(134,449
)
 
—

 
(6,516,530
)
 
(79,071
)
 
—

 
(6,595,601
)
Financial Services expenses
—

 
(527
)
 
(118,762
)
 
—

 
(119,289
)
Selling, general, and administrative
       expenses
—

 
(785,266
)
 
(106,315
)
 
—

 
(891,581
)
Other expense, net
(482
)
 
(63,050
)
 
31,145

 
—

 
(32,387
)
Intercompany interest
(2,485
)
 
—

 
2,485

 
—

 
—

Income (loss) before income taxes and
       equity in income (loss) of
       subsidiaries
(2,967
)
 
921,730

 
20,065

 
—

 
938,828

Income tax (expense) benefit
1,127

 
(483,435
)
 
(9,299
)
 
—

 
(491,607
)
Income (loss) before equity in income
       (loss) of subsidiaries
(1,840
)
 
438,295

 
10,766

 
—

 
447,221

Equity in income (loss) of subsidiaries
449,061

 
58,559

 
226,864

 
(734,484
)
 
—

Net income (loss)
447,221

 
496,854

 
237,630

 
(734,484
)
 
447,221

Other comprehensive income (loss)
81

 
—

 
—

 
—

 
81

Comprehensive income (loss)
$
447,302

 
$
496,854

 
$
237,630

 
$
(734,484
)
 
$
447,302
Consolidating Statement Of Cash Flows
CONSOLIDATING STATEMENT OF CASH FLOWS
For the year ended December 31, 2019
($000’s omitted)
 
Unconsolidated
 
 
 
Consolidated
PulteGroup, Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminating
Entries
 
Net cash provided by (used in)
   operating activities
$
195,371

 
$
858,338

 
$
23,836

 
$
—

 
$
1,077,545

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(48,899
)
 
(9,220
)
 
—

 
(58,119
)
Investment in unconsolidated subsidiaries
—

 
(8,807
)
 
(708
)
 
—

 
(9,515
)
Cash used for business acquisition
—

 
(163,724
)
 
—

 
—

 
(163,724
)
Other investing activities, net
—

 
3,337

 
1,792

 
—

 
5,129

Net cash provided by (used in) investing
   activities
—

 
(218,093
)
 
(8,136
)
 
—

 
(226,229
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt, net of issuance costs
—

 
—

 
—

 
—

 
—

Repayments of debt
(280,259
)
 
(29,189
)
 
(537
)
 
—

 
(309,985
)
Borrowings under revolving credit facility
—

 
—

 
—

 
—

 
—

Repayments under revolving credit facility
—

 
—

 
—

 
—

 
—

Financial Services borrowings
     (repayments), net
—

 
—

 
(21,841
)
 
—

 
(21,841
)
Stock option exercises
6,399

 
—

 
—

 
—

 
6,399

Share repurchases
(274,333
)
 
—

 
—

 
—

 
(274,333
)
Cash paid for shares withheld for taxes
(11,450
)
 
—

 
—

 
—

 
(11,450
)
Dividends paid
(122,350
)
 
—

 
—

 
—

 
(122,350
)
Intercompany activities, net
486,622

 
(482,352
)
 
(4,270
)
 
—

 
—

Net cash provided by (used in)
   financing activities
(195,371
)
 
(511,541
)
 
(26,648
)
 
—

 
(733,560
)
Net increase (decrease)
—

 
128,704

 
(10,948
)
 
—

 
117,756

Cash, cash equivalents, and restricted cash
     at beginning of year
—

 
929,367

 
204,333

 
—

 
1,133,700

Cash, cash equivalents, and restricted cash
     at end of year
$
—

 
$
1,058,071

 
$
193,385

 
$
—

 
$
1,251,456


CONSOLIDATING STATEMENT OF CASH FLOWS
For the year ended December 31, 2018
($000’s omitted)
 
Unconsolidated
 
 
 
Consolidated
PulteGroup, Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminating
Entries
 
Net cash provided by (used in)
   operating activities
$
494,521

 
$
791,350

 
$
163,876

 
$
—

 
$
1,449,747

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(51,147
)
 
(7,892
)
 
—

 
(59,039
)
Investment in unconsolidated subsidiaries
—

 
(1,000
)
 
—

 
—

 
(1,000
)
Cash used for business acquisitions
—

 
—

 
—

 
—

 
—

Other investing activities, net
—

 
11,300

 
6,797

 
—

 
18,097

Net cash provided by (used in) investing
   activities
—

 
(40,847
)
 
(1,095
)
 
—

 
(41,942
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt, net of issuance costs
(8,164
)
 
—

 
—

 
—

 
(8,164
)
Repayments of debt
—

 
(81,758
)
 
(1,017
)
 
—

 
(82,775
)
Borrowings under revolving credit facility
1,566,000

 
—

 
—

 
—

 
1,566,000

Repayments under revolving credit facility
(1,566,000
)
 
—

 
—

 
—

 
(1,566,000
)
Financial Services borrowings
     (repayments), net
—

 
—

 
(89,393
)
 
—

 
(89,393
)
Stock option exercises
6,555

 
—

 
—

 
—

 
6,555

Share repurchases
(294,566
)
 
—

 
—

 
—

 
(294,566
)
Cash paid for shares withheld for taxes
(7,910
)
 
—

 
—

 
—

 
(7,910
)
Dividends paid
(104,020
)
 
—

 
—

 
—

 
(104,020
)
Intercompany activities, net
(86,416
)
 
102,821

 
(16,405
)
 
—

 
—

Net cash provided by (used in)
   financing activities
(494,521
)
 
21,063

 
(106,815
)
 
—

 
(580,273
)
Net increase (decrease)
—

 
771,566

 
55,966

 
—

 
827,532

Cash, cash equivalents, and restricted cash
     at beginning of year
—

 
157,801

 
148,367

 
—

 
306,168

Cash, cash equivalents, and restricted cash
     at end of year
$
—

 
$
929,367

 
$
204,333

 
$
—

 
$
1,133,700

CONSOLIDATING STATEMENT OF CASH FLOWS
For the year ended December 31, 2017
($000’s omitted)
 
Unconsolidated
 
 
 
Consolidated
PulteGroup, 
Inc.
 
PulteGroup,
Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminating
Entries
 
Net cash provided by (used in)
   operating activities
$
309,760

 
$
328,163

 
$
25,157

 
$
—

 
$
663,080

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(25,432
)
 
(6,619
)
 
—

 
(32,051
)
Investment in unconsolidated subsidiaries
—

 
(23,037
)
 
—

 
—

 
(23,037
)
Cash used for business acquisitions
—

 
—

 
—

 
—

 
—

Other investing activities, net
—

 
5,778

 
(932
)
 
—

 
4,846

Net cash provided by (used in)
   investing activities
—

 
(42,691
)
 
(7,551
)
 
—

 
(50,242
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Financial Services borrowings (repayments)
—

 
—

 
106,183

 
—

 
106,183

Proceeds from debt, net of issuance costs
—

 
—

 
—

 
—

 
—

Repayments of debt
(123,000
)
 
(10,301
)
 
(1,446
)
 
—

 
(134,747
)
Borrowings under revolving credit facility
2,720,000

 
—

 
—

 
—

 
2,720,000

Repayments under revolving credit facility
(2,720,000
)
 
—

 
—

 
—

 
(2,720,000
)
Stock option exercises
27,720

 
—

 
—

 
—

 
27,720

Share repurchases
(910,331
)
 
—

 
—

 
—

 
(910,331
)
Cash paid for shares withheld for taxes
(5,995
)
 
—

 
—

 
—

 
(5,995
)
Dividends paid
(112,748
)
 
—

 
—

 
—

 
(112,748
)
Intercompany activities, net
814,594

 
(728,555
)
 
(86,039
)
 
—

 
—

Net cash provided by (used in)
   financing activities
(309,760
)
 
(738,856
)
 
18,698

 
—

 
(1,029,918
)
Net increase (decrease)
—

 
(453,384
)
 
36,304

 
—

 
(417,080
)
Cash, cash equivalents, and restricted cash
     at beginning of year
—

 
611,185

 
112,063

 
—

 
723,248

Cash, cash equivalents, and restricted cash
     at end of year
$
—

 
$
157,801

 
$
148,367

 
$
—

 
$
306,168