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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:      
Net income $ 484,730 [1] $ 213,509 [1] $ 215,865
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
(Income) loss from unconsolidated joint ventures (4,057) (1,966) 668
Depreciation and amortization 61,704 41,151 27,347
Amortization of stock-based compensation 17,794 15,624 8,469
Excess tax (benefit) provision from share-based payment arrangements 460 (9,250) (13,404)
Deferred income tax provision (5,097) 38,636 98,998
Other operating activities 418 2,869 1,886
Changes in cash and equivalents due to:      
Mortgage loans held for sale 63,649 (42,871) (52,838)
Inventories - owned (306,896) (497,836) (664,427)
Inventories - not owned (37,728) 34,770 (33,027)
Other assets 5,697 (2,998) 4,529
Accounts payable 20,099 (89,461) 9,314
Accrued liabilities 21,541 26,462 34,223
Net cash provided by (used in) operating activities 322,314 (271,361) (362,397)
Cash Flows From Investing Activities:      
Investments in unconsolidated homebuilding joint ventures (29,118) (91,453) (10,506)
Distributions of capital from unconsolidated homebuilding joint ventures 39,735 19,582 18,010
Cash acquired in connection with merger 268,517
Net cash paid for acquisitions (33,770)
Other investing activities (7,688) (11,972) (4,754)
Net cash provided by (used in) investing activities 2,929 184,674 (31,020)
Cash Flows From Financing Activities:      
Change in restricted cash 8,873 652 (16,762)
Borrowing from revolving credit facility 1,433,200 852,700
Principal payments on revolving credit facility (1,433,200) (852,700)
Principal payments on secured project debt and other notes payable (23,228) (2,532) (1,458)
Principal payments on senior notes payable (280,000) (29,789) (4,971)
Proceeds from the issuance of senior notes payable 300,000 300,000
Payment of debt issuance costs (2,669) (1,016) (6,230)
Net proceeds from (payments on) mortgage credit facilities (55,995) 110,469 (11,454)
Repurchases of common stock (232,520) (22,073) (36,781)
Common stock dividend payments (18,841) (4,851)
Issuance of common stock under employee stock plans, net of withholdings 1,330 1,000 6,771
Excess tax benefit (provision) from share-based payment arrangements (460) 9,250 13,404
Other financing activities (200) (222)
Net cash provided by (used in) by financing activities (303,710) 60,888 242,519
Net increase (decrease) in cash and equivalents 21,533 (25,799) (150,898)
Cash and equivalents at beginning of year 186,594 212,393 363,291
Cash and equivalents at end of year 208,127 186,594 212,393
Cash and equivalents at end of year $ 186,594 $ 186,594 $ 212,393
[1] Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.