Note 18 - Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2016

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Year Ended December 31, 2016
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	2,674,122		$	2,629,329		$	1,084,589		$	―		$	6,388,040
Cost of sales		(2,131,342	)		(2,099,621	)		(766,447	)		―			(4,997,410	)
Gross margin		542,780			529,708			318,142			―			1,390,630
Selling, general and administrative expenses		(278,972	)		(310,492	)		(74,995	)		―			(664,459	)
Income (loss) from unconsolidated joint ventures		355			594			3,108			―			4,057
Equity income of subsidiaries		330,815			―			―			(330,815	)		―
Interest income (expense), net		4,708			(3,578	)		(1,130	)		―			―
Other income (expense)		(15,238	)		(2,064	)		576			―			(16,726	)
Homebuilding pretax income		584,448			214,168			245,701			(330,815	)		713,502
Financial Services:
Financial services pretax income		―			―			39,614			―			39,614
Income before taxes		584,448			214,168			285,315			(330,815	)		753,116
Provision for income taxes		(99,718	)		(92,267	)		(76,401	)		―			(268,386	)
Net income	$	484,730		$	121,901		$	208,914		$	(330,815	)	$	484,730

	Year Ended December 31, 2015
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	1,234,750		$	1,500,676		$	787,707		$	(26,722	)	$	3,496,411
Cost of sales		(989,834	)		(1,194,605	)		(562,223	)		26,722			(2,719,940	)
Gross margin		244,916			306,071			225,484			―			776,471
Selling, general and administrative expenses		(145,458	)		(185,779	)		(59,473	)		―			(390,710	)
Income (loss) from unconsolidated joint ventures		540			269			1,157			―			1,966
Equity income of subsidiaries		201,261			―			―			(201,261	)		―
Interest income (expense), net		12,388			(9,374	)		(3,014	)		―			―
Other income (expense)		(57,629	)		(2,678	)		(1,870	)		―			(62,177	)
Homebuilding pretax income		256,018			108,509			162,284			(201,261	)		325,550
Financial Services:
Financial services pretax income		―			―			16,939			―			16,939
Income before taxes		256,018			108,509			179,223			(201,261	)		342,489
Provision for income taxes		(42,509	)		(49,512	)		(36,959	)		―			(128,980	)
Net income	$	213,509		$	58,997		$	142,264		$	(201,261	)	$	213,509

	Year Ended December 31, 2014
	CalAtlantic Group, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
Homebuilding:
Revenues	$	813,423		$	1,025,404		$	572,351		$	―		$	2,411,178
Cost of sales		(599,911	)		(779,578	)		(413,306	)		―			(1,792,795	)
Gross margin		213,512			245,826			159,045			―			618,383
Selling, general and administrative expenses		(101,020	)		(131,068	)		(43,773	)		―			(275,861	)
Income (loss) from unconsolidated joint ventures		(71	)		88			(685	)		―			(668	)
Equity income of subsidiaries		155,943			―			―			(155,943	)		―
Interest income (expense), net		13,718			(11,497	)		(2,221	)		―			―
Other income (expense)		(3,954	)		(469	)		2,690			―			(1,733	)
Homebuilding pretax income		278,128			102,880			115,056			(155,943	)		340,121
Financial Services:
Financial services pretax income		―			―			9,843			―			9,843
Income before taxes		278,128			102,880			124,899			(155,943	)		349,964
Provision for income taxes		(62,263	)		(40,469	)		(31,367	)		―			(134,099	)
Net income	$	215,865		$	62,411		$	93,532		$	(155,943	)	$	215,865

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	December 31, 2016
	CalAtlantic Group, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated CalAtlantic Group, Inc.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	105,261	$	38,211	$	47,614	$	―		$	191,086
Restricted cash		―		―		28,321		―			28,321
Intercompany receivables		2,045,773		―		334,926		(2,380,699	)		―
Inventories:
Owned		2,825,234		2,277,840		1,335,718		―			6,438,792
Not owned		30,953		32,596		2,718		―			66,267
Investments in unconsolidated joint ventures		4,469		4,923		117,735		―			127,127
Investments in subsidiaries		1,954,418		―		―		(1,954,418	)		―
Deferred income taxes, net		337,021		―		―		(6,643	)		330,378
Goodwill		970,185		―		―		―			970,185
Other assets		165,214		36,725		2,550		―			204,489
Total Homebuilding Assets		8,438,528		2,390,295		1,869,582		(4,341,760	)		8,356,645
Financial Services:
Cash and equivalents		―		―		17,041		―			17,041
Restricted cash		―		―		21,710		―			21,710
Mortgage loans held for sale, net		―		―		262,058		―			262,058
Mortgage loans held for investment, net		―		―		24,924		―			24,924
Other assets		―		―		28,467		(1,801	)		26,666
Total Financial Services Assets		―		―		354,200		(1,801	)		352,399
Total Assets	$	8,438,528	$	2,390,295	$	2,223,782	$	(4,343,561	)	$	8,709,044

LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	92,611	$	78,729	$	40,440	$	―		$	211,780
Accrued liabilities and intercompany payables		387,098		1,302,228		964,796		(2,054,217	)		599,905
Secured project debt and other notes payable		359,025		―		3,480		(334,926	)		27,579
Senior notes payable		3,392,208		―		―		―			3,392,208
Total Homebuilding Liabilities		4,230,942		1,380,957		1,008,716		(2,389,143	)		4,231,472
Financial Services:
Accounts payable and other liabilities		―		―		22,559		―			22,559
Mortgage credit facilities		―		―		247,427		―			247,427
Total Financial Services Liabilities		―		―		269,986		―			269,986
Total Liabilities		4,230,942		1,380,957		1,278,702		(2,389,143	)		4,501,458

Equity:
Total Equity		4,207,586		1,009,338		945,080		(1,954,418	)		4,207,586
Total Liabilities and Equity	$	8,438,528	$	2,390,295	$	2,223,782	$	(4,343,561	)	$	8,709,044

	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		151,475		48,027		3,163		―			202,665
Total Homebuilding Assets		8,085,192		2,508,439		1,599,230		(4,187,608	)		8,005,253
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	$	8,085,192	$	2,508,439	$	2,025,022	$	(4,189,251	)	$	8,429,402

LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	91,873	$	82,906	$	16,902	$	―		$	191,681
Accrued liabilities and intercompany payables		499,700		1,538,096		903,761		(2,378,867	)		562,690
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		4,223,756		1,621,002		924,724		(2,527,412	)		4,242,070
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		4,223,756		1,621,002		1,268,006		(2,544,798	)		4,567,966

Equity:
Total Equity		3,861,436		887,437		757,016		(1,644,453	)		3,861,436
Total Liabilities and Equity	$	8,085,192	$	2,508,439	$	2,025,022	$	(4,189,251	)	$	8,429,402

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

	Year Ended December 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	$	35,434		$	120,540		$	166,340		$	―		$	322,314

Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(276	)		(227	)		(28,615	)		―			(29,118	)
Distributions of capital from unconsolidated homebuilding joint ventures		1,104			336			38,295			―			39,735
Loan to parent and subsidiaries		―			―			(187,300	)		187,300			―
Other investing activities		(616	)		(3,496	)		(3,576	)		―			(7,688	)
Net cash provided by (used in) investing activities		212			(3,387	)		(181,196	)		187,300			2,929

Cash Flows From Financing Activities:
Change in restricted cash		―			―			8,873			―			8,873
Borrowing from revolving credit facility		1,433,200			―			―			―			1,433,200
Principal payments on revolving credit facility		(1,433,200	)		―			―			―			(1,433,200	)
Principal payments on secured project debt and other notes payable		(22,647	)		―			(581	)		―			(23,228	)
Loan from subsidiary		187,300			―			―			(187,300	)		―
Principal payments on senior notes payable		(280,000	)		―			―			―			(280,000	)
Proceeds from the issuance of senior notes payable		300,000			―			―			―			300,000
Payment of debt issuance costs		(2,669	)		―			―			―			(2,669	)
Net proceeds from (payments on) mortgage credit facilities		―			―			(55,995	)		―			(55,995	)
(Contributions to) distributions from Corporate and subsidiaries		20,850			―			(20,850	)		―			―
Repurchases of common stock		(232,520	)		―			―			―			(232,520	)
Common stock dividend payments		(18,841	)		―			―			―			(18,841	)
Issuance of common stock under employee stock plans, net of withholdings		1,330			―			―			―			1,330
Excess tax benefit (provision) from share-based payment arrangements		(460	)		―			―			―			(460	)
Other financing activities		―			(200	)		―			―			(200	)
Intercompany advances, net		110,885			(191,594	)		80,709			―			―
Net cash provided by (used in) financing activities		63,228			(191,794	)		12,156			(187,300	)		(303,710	)

Net increase (decrease) in cash and equivalents		98,874			(74,641	)		(2,700	)		―			21,533
Cash and equivalents at beginning of year		6,387			112,852			67,355			―			186,594
Cash and equivalents at end of year	$	105,261		$	38,211		$	64,655		$	―		$	208,127

	Year Ended December 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	$	(17,201	)	$	(107,470	)	$	(146,690	)	$	―		$	(271,361	)

Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		―			―			(91,453	)		―			(91,453	)
Distributions of capital from unconsolidated homebuilding joint ventures		641			75			18,866			―			19,582
Cash acquired in connection with merger		20,345			238,034			10,138			―			268,517
Loan to parent and subsidiaries		―			―			34,000			(34,000	)		―
Other investing activities		9			(4,310	)		(7,671	)		―			(11,972	)
Net cash provided by (used in) investing activities		20,995			233,799			(36,120	)		(34,000	)		184,674

Cash Flows From Financing Activities:
Change in restricted cash		―			―			652			―			652
Borrowing from revolving credit facility		852,700			―			―			―			852,700
Principal payments on revolving credit facility		(852,700	)		―			―			―			(852,700	)
Principal payments on secured project debt and other notes payable		(1,893	)		―			(639	)		―			(2,532	)
Loan from subsidiary		46,000			―			―			(46,000	)		―
Principal payments on senior notes payable		(29,789	)		―			―			―			(29,789	)
Payment of debt issuance costs		(1,016	)		―			―			―			(1,016	)
Net proceeds from (payments on) mortgage credit facilities		―			―			30,469			80,000			110,469
(Contributions to) distributions from Corporate and subsidiaries		13,873			(31,719	)		17,846			―			―
Repurchases of common stock		(22,073	)		―			―			―			(22,073	)
Common stock dividend payments		(4,851	)		―			―			―			(4,851	)
Issuance of common stock under employee stock plans, net of withholdings		1,000			―			―			―			1,000
Excess tax benefit (provision) from share-based payment arrangements		9,250			―			―			―			9,250
Other financing activities		―			(95	)		(127	)		―			(222	)
Intercompany advances, net		(141,212	)		17,276			123,936			―			―
Net cash provided by (used in) financing activities		(130,711	)		(14,538	)		172,137			34,000			60,888

Net increase (decrease) in cash and equivalents		(126,917	)		111,791			(10,673	)		―			(25,799	)
Cash and equivalents at beginning of year		133,304			1,061			78,028			―			212,393
Cash and equivalents at end of year	$	6,387		$	112,852		$	67,355		$	―		$	186,594

	Year Ended December 31, 2014
	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	$	(56,158	)	$	(118,941	)	$	(187,298	)	$	―		$	(362,397	)

Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		―			―			(10,506	)		―			(10,506	)
Distributions of capital from unconsolidated homebuilding joint ventures		227			228			17,555			―			18,010
Net cash paid for acquisitions		―			(36,047	)		2,277			―			(33,770	)
Loan to parent and subsidiaries		―			―			(180,000	)		180,000			―
Other investing activities		(1,571	)		(1,351	)		(1,832	)		―			(4,754	)
Net cash provided by (used in) investing activities		(1,344	)		(37,170	)		(172,506	)		180,000			(31,020	)

Cash Flows From Financing Activities:
Change in restricted cash		―			―			(16,762	)		―			(16,762	)
Principal payments on secured project debt and other notes payable		―			―			(1,458	)		―			(1,458	)
Loan from subsidiary		100,000			―			―			(100,000	)		―
Principal payments on senior notes payable		(4,971	)		―			―			―			(4,971	)
Proceeds from the issuance of senior notes payable		300,000			―			―			―			300,000
Payment of debt issuance costs		(6,230	)		―			―			―			(6,230	)
Net proceeds from (payments on) mortgage credit facilities		―			―			68,546			(80,000	)		(11,454	)
(Contributions to) distributions from Corporate and subsidiaries		8,350			―			(8,350	)		―			―
Repurchases of common stock		(36,781	)		―			―			―			(36,781	)
Issuance of common stock under employee stock plans, net of withholdings		6,771			―			―			―			6,771
Excess tax benefit (provision) from share-based payment arrangements		13,404			―			―			―			13,404
Intercompany advances, net		(365,026	)		156,678			208,348			―			―
Net cash provided by (used in) financing activities		15,517			156,678			250,324			(180,000	)		242,519

Net increase (decrease) in cash and equivalents		(41,985	)		567			(109,480	)		―			(150,898	)
Cash and equivalents at beginning of year		175,289			494			187,508			―			363,291
Cash and equivalents at end of year	$	133,304		$	1,061		$	78,028		$	―		$	212,393