Note 22 - Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2016

Notes Tables

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Three Months Ended March 31, 2016
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	461,738		$	534,454		$	189,491		―			$	1,185,683
Cost of sales		(372,841	)		(430,002	)		(135,652	)	―				(938,495	)
Gross margin		88,897			104,452			53,839		―				247,188
Selling, general and administrative expenses		(55,051	)		(67,846	)		(13,804	)	―				(136,701	)
Income (loss) from unconsolidated joint ventures		689			144			356		―				1,189
Equity income of subsidiaries		54,167		―			―				(54,167	)	―
Interest income (expense), net		1,337			(965	)		(372	)	―			―
Other income (expense)		(3,615	)		189			18		―				(3,408	)
Homebuilding pretax income		86,424			35,974			40,037			(54,167	)		108,268
Financial Services:
Financial services pretax income	―			―				6,936		―				6,936
Income before taxes		86,424			35,974			46,973			(54,167	)		115,204
Provision for income taxes		(13,763	)		(17,474	)		(11,306	)	―				(42,543	)
Net income	$	72,661		$	18,500		$	35,667		$	(54,167	)	$	72,661

	Three Months Ended March 31, 2015
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic  Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	136,892		$	219,728		$	113,658		―			$	470,278
Cost of sales		(103,358	)		(170,957	)		(81,858	)	―				(356,173	)
Gross margin		33,534			48,771			31,800		―				114,105
Selling, general and administrative expenses		(23,146	)		(32,750	)		(10,174	)	―				(66,070	)
Income (loss) from unconsolidated joint ventures		26		―				(477	)	―				(451	)
Equity income of subsidiaries		23,367		―			―				(23,367	)	―
Interest income (expense), net		3,223			(2,744	)		(479	)	―			―
Other income (expense)		(1,001	)		(148	)		853		―				(296	)
Homebuilding pretax income		36,003			13,129			21,523			(23,367	)		47,288
Financial Services:
Financial services pretax income	―			―				1,208		―				1,208
Income before taxes		36,003			13,129			22,731			(23,367	)		48,496
Provision for income taxes		(4,398	)		(7,324	)		(5,169	)	―				(16,891	)
Net income	$	31,605		$	5,805		$	17,562		$	(23,367	)	$	31,605

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	March 31, 2016
	CalAtlantic Group, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	86,958	$	35,975	$	46,595	―			$	169,528
Restricted cash	―		―			34,652	―				34,652
Intercompany receivables		2,136,557	―			74,958		(2,211,515	)	―
Inventories:
Owned		2,618,174		2,340,739		1,358,153	―				6,317,066
Not owned		29,382		36,231		3,978	―				69,591
Investments in unconsolidated joint ventures		6,064		4,537		126,990	―				137,591
Investments in subsidiaries		1,699,320	―		―			(1,699,320	)	―
Deferred income taxes, net		361,170	―		―			(12,043	)		349,127
Goodwill and other intangibles, net		969,315	―		―		―				969,315
Other assets		66,658		42,098		4,448	―				113,204
Total Homebuilding Assets		7,973,598		2,459,580		1,649,774		(3,922,878	)		8,160,074
Financial Services:
Cash and equivalents	―		―			23,691	―				23,691
Restricted cash	―		―			22,985	―				22,985
Mortgage loans held for sale, net	―		―			187,444	―				187,444
Mortgage loans held for investment, net	―		―			21,553	―				21,553
Other assets	―		―			17,633		(1,643	)		15,990
Total Financial Services Assets	―		―			273,306		(1,643	)		271,663
Total Assets	$	7,973,598	$	2,459,580	$	1,923,080	$	(3,924,521	)	$	8,431,737
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	71,131	$	77,322	$	21,183	―			$	169,636
Accrued liabilities and intercompany payables		222,732		1,476,321		923,000		(2,150,243	)		471,810
Revolving credit facility		266,000	―		―		―				266,000
Secured project debt and other notes payable		94,856	―			4,004		(74,958	)		23,902
Senior notes payable		3,376,910	―		―		―				3,376,910
Total Homebuilding Liabilities		4,031,629		1,553,643		948,187		(2,225,201	)		4,308,258
Financial Services:
Accounts payable and other liabilities	―		―			16,567	―				16,567
Mortgage credit facilities	―		―			164,943	―				164,943
Total Financial Services Liabilities	―		―			181,510	―				181,510
Total Liabilities		4,031,629		1,553,643		1,129,697		(2,225,201	)		4,489,768
Equity:
Total Equity		3,941,969		905,937		793,383		(1,699,320	)		3,941,969
Total Liabilities and Equity	$	7,973,598	$	2,459,580	$	1,923,080	$	(3,924,521	)	$	8,431,737

	December 31, 2015
	CalAtlantic Group, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	6,387	$	112,852	$	31,837	―			$	151,076
Restricted cash	―		―			35,990	―				35,990
Intercompany receivables		2,380,899	―			152,505		(2,533,404	)	―
Inventories:
Owned		2,524,927		2,304,305		1,240,727	―				6,069,959
Not owned		32,393		38,925		11,928	―				83,246
Investments in unconsolidated joint ventures		5,353		4,330		123,080	―				132,763
Investments in subsidiaries		1,644,453	―		―			(1,644,453	)	―
Deferred income taxes, net		405,945	―		―			(9,751	)		396,194
Goodwill		933,360	―		―		―				933,360
Other assets		67,578		48,027		3,163	―				118,768
Total Homebuilding Assets		8,001,295		2,508,439		1,599,230		(4,187,608	)		7,921,356
Financial Services:
Cash and equivalents	―		―			35,518	―				35,518
Restricted cash	―		―			22,914	―				22,914
Mortgage loans held for sale, net	―		―			325,770	―				325,770
Mortgage loans held for investment, net	―		―			22,704	―				22,704
Other assets	―		―			18,886		(1,643	)		17,243
Total Financial Services Assets	―		―			425,792		(1,643	)		424,149
Total Assets	$	8,001,295	$	2,508,439	$	2,025,022	$	(4,189,251	)	$	8,345,505
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	91,873	$	82,906	$	16,902	―			$	191,681
Accrued liabilities and intercompany payables		415,803		1,538,096		903,761		(2,378,867	)		478,793
Secured project debt and other notes payable		170,167	―			4,061		(148,545	)		25,683
Senior notes payable		3,462,016	―		―		―				3,462,016
Total Homebuilding Liabilities		4,139,859		1,621,002		924,724		(2,527,412	)		4,158,173
Financial Services:
Accounts payable and other liabilities	―		―			39,860		(17,386	)		22,474
Mortgage credit facilities	―		―			303,422	―				303,422
Total Financial Services Liabilities	―		―			343,282		(17,386	)		325,896
Total Liabilities		4,139,859		1,621,002		1,268,006		(2,544,798	)		4,484,069
Equity:
Total Equity		3,861,436		887,437		757,016		(1,644,453	)		3,861,436
Total Liabilities and Equity	$	8,001,295	$	2,508,439	$	2,025,022	$	(4,189,251	)	$	8,345,505

Supplemental Condensed Consolidating Statements of Cash Flows [Table Text Block]

	Three Months Ended March 31, 2016
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(43,214	)	$	(42,551	)	$	58,143		$ ―			$	(27,622	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(135	)		(45	)		(4,011	)	―				(4,191	)
Distributions of capital from unconsolidated homebuilding joint ventures	―			―				99		―				99
Loan to parent and subsidiaries	―			―				71,000			(71,000	)	―
Other investing activities		488			(199	)		853		―				1,142
Net cash provided by (used in) investing activities		353			(244	)		67,941			(71,000	)		(2,950	)
Cash Flows From Financing Activities:
Change in restricted cash	―			―				1,267		―				1,267
Borrowings from revolving credit facility		386,400		―			―			―				386,400
Principal payments on revolving credit facility		(120,400	)	―			―			―				(120,400	)
Principal payments on secured project debt and other notes payable		(1,724	)	―				(57	)	―				(1,781	)
Loan from subsidiary		(71,000	)	―			―				71,000		―
Net proceeds from (payments on) mortgage credit facilities	―			―				(138,479	)	―				(138,479	)
(Contributions to) distributions from Corporate and subsidiaries		(700	)	―				700		―			―
Repurchases of common stock		(87,050	)	―			―			―				(87,050	)
Common stock dividend payments		(4,792	)	―			―			―				(4,792	)
Issuance of common stock under employee stock plans, net of tax withholdings		2,055		―			―			―				2,055
Other financing activities	―				(23	)	―			―				(23	)
Intercompany advances, net		20,643			(34,059	)		13,416		―			―
Net cash provided by (used in) financing activities		123,432			(34,082	)		(123,153	)		71,000			37,197
Net increase (decrease) in cash and equivalents		80,571			(76,877	)		2,931		―				6,625
Cash and equivalents at beginning of period		6,387			112,852			67,355		―				186,594
Cash and equivalents at end of period	$	86,958		$	35,975		$	70,286		$ ―			$	193,219

	Three Months Ended March 31, 2015
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(26,142	)	$	(61,490	)	$	(6,439	)	―			$	(94,071	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures	―			―				(7,639	)	―				(7,639	)
Distributions of capital from unconsolidated homebuilding joint ventures	―			―				5,732		―				5,732
Loan to parent and subsidiaries	―			―				10,000			(10,000	)	―
Other investing activities		(1,080	)		(697	)		(4,200	)	―				(5,977	)
Net cash provided by (used in) investing activities		(1,080	)		(697	)		3,893			(10,000	)		(7,884	)
Cash Flows From Financing Activities:
Change in restricted cash	―			―				(1,019	)	―				(1,019	)
Borrowings from revolving credit facility		27,700		―			―			―				27,700
Principal payments on revolving credit facility		(12,700	)	―			―			―				(12,700	)
Principal payments on secured project debt and other notes payable	―			―				(311	)	―				(311	)
Loan from subsidiary		70,000		―			―				(70,000	)	―
Net proceeds from (payments on) mortgage credit facilities	―			―				(77,876	)		80,000			2,124
(Contributions to) distributions from Corporate and subsidiaries		9,973		―				(9,973	)	―			―
Repurchases of common stock		(22,073	)	―			―			―				(22,073	)
Issuance of common stock under employee stock plans, net of tax withholdings		(3,930	)	―			―			―				(3,930	)
Excess tax benefits from share-based payment arrangements		3,369		―			―			―				3,369
Intercompany advances, net		(131,144	)		61,909			69,235		―			―
Net cash provided by (used in) financing activities		(58,805	)		61,909			(19,944	)		10,000			(6,840	)
Net increase (decrease) in cash and equivalents		(86,027	)		(278	)		(22,490	)	―				(108,795	)
Cash and equivalents at beginning of period		133,304			1,061			78,028		―				212,393
Cash and equivalents at end of period	$	47,277		$	783		$	55,538		―			$	103,598