7Baggers
Quarterly
Annual
    Unit: USD2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-05-31 2024-02-29 2023-11-30 2023-08-31 2023-05-31 2023-02-28 2022-11-30 2022-08-31 2022-05-31 2022-02-28 2021-11-30 2021-08-31 2021-05-31 2021-02-28 2020-11-30 2020-08-31 2020-05-31 2020-02-29 2019-11-30 2019-08-31 2019-05-31 2019-02-28 2018-11-30 2018-08-31 2018-05-31 2018-02-28 2017-11-30 2017-08-31 2017-05-31 2017-02-28 2016-11-30 2016-08-31 2016-05-31 2016-02-29 2015-11-30 2015-08-31 2015-05-31 2015-02-28 2014-11-30 2014-08-31 2014-05-31 2014-02-28 2013-11-30 2013-08-31 2013-05-31 2013-02-28 2012-11-30 2012-08-31 2012-05-31 2012-02-29 2011-11-30 2011-08-31 2011-05-31 2011-02-28 2010-11-30 2010-08-31 2010-05-31 2010-02-28 2009-11-30 2009-08-31 2009-05-31 2009-02-28 2008-11-30 2008-08-31 2008-05-31 2008-02-29 2007-11-30 2007-08-31 2007-05-31 2007-02-28 2006-11-30 2006-08-31 2006-05-31 2006-02-28 2005-08-31 2005-05-31 2005-02-28 2004-08-31 2004-05-31 2004-02-29 2003-08-31 2003-05-31 2003-02-28 2002-11-30 2002-08-31 2002-05-31 2002-02-28 
      
    		                                                                                            
      cash flows from operating activities:
    		                                                                                            
      net income
    		109,828,000 107,883,000 109,557,000 190,605,000 157,329,000 168,419,000 138,665,000 150,302,000 149,933,000 164,442,000 125,500,000 216,410,000 255,329,000 210,670,000 134,257,000 174,234,000 150,097,000 143,364,000 97,051,000 106,091,000 78,415,000 51,989,000 59,748,000 123,167,000 68,136,000 47,461,000 30,011,000 96,836,000 87,476,000 57,308,000 -71,255,000 84,346,000 50,208,000 31,782,000 14,259,000 37,528,000 39,363,000 15,597,000 13,127,000 44,017,000 23,254,000 9,573,000 7,799,000 852,801,000 28,361,000 26,624,000 10,563,000 28,116,000 27,278,000 -2,973,000 -12,458,000 7,724,000 3,261,000 -24,136,000 -45,802,000 13,911,000 -9,649,000 -68,504,000 -114,526,000 17,442,000 -1,397,000 -30,709,000 -54,704,000 100,719,000 -66,048,000 -78,383,000 -58,072,000 -307,284,000 -144,745,000 -255,930,000 -268,172,000 -772,653,000 -35,612,000 -148,686,000 27,537,000 -49,642,000 150,960,000 206,572,000 174,461,000 227,521,000 181,513,000 122,744,000 117,854,000 102,106,000 74,208,000 97,815,000 81,374,000 52,839,000 123,732,000 83,892,000 64,062,000 42,664,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                                                            
      equity in income of unconsolidated joint ventures
    		-5,763,000 -5,942,000 -6,742,000 -10,541,000 -9,385,000 -6,659,000 -6,610,000 -5,009,000 -4,037,000 -5,113,000 -825,000 -238,000 -28,000 -14,497,000 -5,171,000 -4,766,000 -5,227,000 -6,917,000 -6,274,000 -6,773,000 -8,777,000 -12,951,000 -5,127,000 -4,822,000 -3,332,000    -6,078,000            -236,000 -1,540,000 -67,000   684,000 -2,584,000    -656,000                                          
      distributions of earnings from unconsolidated joint ventures
    		7,500,000 6,797,000 13,444,000 5,500,000 13,742,000 1,033,000 6,500,000 10,999,000 0 12,161,000 11,000 359,000 1,384,000 0 9,295,000 -114,000 6,644,000 6,231,000 5,750,000 6,265,000 14,234,000 7,000,000 8,150,000 0 2,900,000 1,150,000 2,400,000 2,750,000 1,150,000 3,847,000 1,300,000                 311,000 0 200,000 1,438,000 0    2,391,000 -1,000 6,127,000 186,000 10,410,000 2,500,000 2,500,000 5,000,000 0 0 7,000,000 662,000 13,058,000 150,000 2,428,000 6,547,000 15,141,000 14,788,000 1,924,000 10,503,000 12,977,000 6,681,000 2,560,000 3,287,000              
      amortization of debt issuance costs
    		902,000                                                                                            
      depreciation and amortization
    		9,406,000 9,219,000 8,815,000 9,013,000 9,416,000 9,508,000 9,335,000 9,427,000 9,226,000 9,048,000 8,712,000 8,458,000 8,327,000 7,907,000 7,627,000 7,344,000 6,800,000 7,416,000 7,080,000 6,813,000 7,073,000 7,194,000 7,316,000 7,333,000 7,045,000 6,334,000 6,446,000 648,000 631,000 623,000 628,000 640,000 651,000 698,000 802,000 874,000 931,000 932,000 900,000 864,000 901,000 841,000 805,000 743,000 651,000 559,000 467,000 452,000 465,000 475,000 465,000 475,000 366,000 389,000 392,000 395,000 476,000 564,000 596,000 661,000 848,000 888,000 892,000 992,000 1,323,000 1,434,000 1,486,000 1,775,000 2,381,000 2,364,000 2,797,000 3,913,000 4,301,000 3,764,000 5,296,000 5,494,000 4,895,000 5,149,000 4,683,000 5,482,000 5,157,000 5,003,000 5,021,000 5,215,000 5,233,000        
      deferred income taxes
    		   11,354,000 700,000 2,700,000 2,300,000 26,493,000 4,300,000 5,600,000 5,000,000 -4,590,000 9,600,000 7,100,000 4,400,000 17,467,000 4,600,000 15,700,000 16,000,000 10,104,000 16,400,000 15,300,000 8,500,000 37,602,000 22,300,000 8,900,000 4,501,000 27,149,000 27,000,000 20,600,000 117,068,000 49,448,000 28,800,000 20,000,000 7,100,000 17,611,000 13,800,000 9,000,000 2,800,000 27,820,000 9,516,000 3,100,000 2,600,000                                                  
      gain on sale of investment
    		   0 0                                                                                        
      stock-based compensation
    		8,420,000 9,153,000 7,558,000 9,218,000 7,968,000 9,363,000 7,921,000 10,678,000 9,248,000 8,819,000 5,867,000 6,520,000 7,056,000 9,021,000 6,867,000 9,136,000 6,114,000 8,082,000 5,572,000 8,764,000 4,636,000 3,181,000 4,950,000 3,833,000 4,513,000 5,814,000 4,152,000 3,712,000 3,354,000 4,966,000 3,829,000 4,740,000 2,856,000 3,885,000 3,152,000 6,670,000 2,674,000 4,613,000 2,893,000 6,699,000 3,016,000 4,247,000 3,181,000 3,140,000 2,234,000 1,946,000 1,779,000 2,103,000 1,552,000 1,031,000 1,013,000                                          
      inventory impairments and land option contract abandonments
    		11,338,000 5,558,000 1,455,000 912,000 1,177,000 1,210,000 1,298,000 1,217,000 631,000 4,287,000 5,289,000 27,930,000 8,464,000 732,000 175,000 731,000 6,701,000 457,000 4,064,000 11,730,000 6,888,000 4,379,000 5,672,000 4,148,000 5,251,000 4,337,000 3,555,000 9,069,000 8,414,000 6,526,000 4,985,000 7,110,000 8,113,000 6,001,000 4,008,000 36,054,000 3,052,000 11,740,000 1,966,000 5,075,000    34,220,000    3,297,000 0   5,621,000 6,403,000 9,937,000 6,572,000 2,284,000 1,162,000 20,591,000 1,754,000 3,186,000 3,377,000 0 13,362,000 76,680,000 24,489,000 42,310,000 24,670,000 205,718,000                         
      changes in assets and liabilities:
    		                                                                                            
      receivables
    		-13,511,000 -18,581,000 39,258,000 10,381,000 6,257,000 -10,157,000 10,105,000 -11,338,000 16,879,000 6,843,000 -25,303,000 20,645,000 -29,418,000 -2,543,000 -8,569,000 -9,557,000 -24,139,000 -21,650,000 23,332,000 -3,582,000 43,553,000 23,481,000 -4,195,000 41,640,000 8,196,000 14,087,000 -19,495,000 -13,748,000 -4,812,000 -25,194,000 -6,024,000 -14,680,000 5,077,000 3,883,000 -6,788,000 12,328,000 2,168,000 1,074,000 3,395,000 4,569,000 -7,033,000 -4,127,000 -13,872,000 -3,529,000 -5,044,000 -12,489,000 -10,221,000 -4,152,000 -6,596,000 -731,000 326,000 29,496,000 -21,297,000 -1,498,000 18,293,000 8,720,000 -9,497,000 -6,070,000 4,627,000 28,556,000 -655,000 -10,810,000 194,227,000 -200,638,000 22,327,000 16,529,000 197,449,000 -169,597,000 1,438,000 15,009,000 92,585,000 -68,199,000 5,897,000 6,914,000 -16,018,000 -97,896,000 9,948,000 -4,472,000 13,493,000 -3,585,000 54,546,000 75,997,000 29,778,000 -9,259,000 55,403,000        
      inventories
    		60,539,000 25,805,000 -416,363,000 118,641,000 -309,145,000 -87,755,000 -107,536,000 71,532,000 -58,494,000 312,481,000 101,293,000 168,674,000 -190,006,000 -358,374,000 -405,851,000 -137,400,000 -380,427,000 -150,786,000 -229,137,000 -229,800,000 -53,510,000 118,018,000 -17,941,000 224,114,000 -135,988,000 -99,390,000 -154,083,000 99,922,000 -217,249,000 -17,488,000 -135,311,000 221,935,000 4,670,000 -63,642,000 -36,878,000 167,208,000 -45,468,000 -69,796,000 -150,265,000 107,361,000 44,155,000 -96,226,000 -20,438,000 4,326,000 -205,284,000 -374,136,000 -205,037,000 -72,187,000 -200,341,000 -91,900,000 -198,761,000 40,909,000 5,569,000 9,725,000 -25,856,000 165,425,000 -9,978,000 -102,852,000 -64,940,000 19,687,000 6,193,000 -106,727,000 -48,487,000 263,005,000 49,332,000 63,290,000 57,448,000 315,543,000 12,186,000 32,089,000 186,032,000 574,654,000 128,914,000 -65,113,000 141,420,000 1,081,259,000 -381,856,000 -458,398,000 -722,985,000 -558,659,000 -350,899,000 -444,240,000 -388,265,000 -257,980,000 -267,273,000        
      accounts payable, accrued expenses and other liabilities
    		4,503,000 30,693,000 -99,031,000 7,164,000 26,227,000 -2,161,000 -38,471,000 38,286,000 31,759,000 -574,000 -131,671,000 -41,591,000 10,429,000 82,190,000 2,069,000 79,538,000 57,240,000 54,977,000 -10,130,000 66,510,000 54,855,000 -56,278,000 -60,996,000 -45,548,000 46,405,000 28,617,000 -70,057,000 41,825,000 66,516,000 72,385,000 -54,016,000 56,668,000 64,599,000 9,432,000 -64,105,000 4,215,000 48,789,000 -327,000 -19,954,000 3,943,000 32,096,000 -6,016,000 -28,032,000 15,116,000 12,305,000 22,597,000 -14,514,000 -12,552,000 40,105,000 34,623,000 -2,413,000 29,123,000 8,948,000 20,407,000 -60,621,000 -206,594,000 -18,873,000 27,392,000 -55,472,000 -51,882,000 -65,714,000 10,712,000 -92,321,000 -2,946,000 -40,023,000 -76,635,000 -133,016,000 -86,241,000 -8,069,000 40,498,000 -228,969,000 158,340,000 -262,576,000 52,684,000 -289,078,000 264,963,000 135,857,000 -2,524,000 54,544,000 63,929,000 155,841,000 -117,460,000 68,726,000 5,326,000 -18,650,000        
      other
    		4,561,000 -3,042,000 6,839,000 9,513,000 4,928,000 -12,378,000 4,151,000 6,733,000 3,496,000 -4,019,000 -791,000 4,402,000 5,331,000 -6,571,000 3,317,000 5,667,000 3,457,000 3,672,000 6,783,000 4,709,000 10,122,000 2,626,000 -16,556,000 3,993,000 1,861,000 1,568,000 -6,712,000 3,978,000 1,907,000 -1,796,000 -4,862,000 1,037,000 1,030,000 -911,000 -5,182,000 4,072,000 -2,764,000 110,000 -1,246,000 1,851,000 2,663,000 627,000 -3,253,000 2,699,000 -2,691,000 -1,368,000 -3,549,000 245,000 1,592,000 436,000 -957,000 -6,200,000 -1,797,000 2,266,000 -6,730,000 -664,000 4,379,000 -26,000 -5,964,000 1,163,000 -128,000 2,875,000 -5,579,000 -117,000 14,278,000 -7,996,000 2,131,000 16,567,000 6,032,000 3,423,000 6,585,000 -19,993,000 34,691,000 7,102,000 -4,391,000 12,442,000 -23,654,000 15,610,000 -8,772,000 3,188,000 -14,755,000 -22,700,000 -5,340,000 -11,337,000 -1,829,000        
      net cash from operating activities
    		197,723,000 168,438,000 -334,321,000 362,641,000 -89,913,000 61,476,000 28,518,000 310,176,000 163,793,000 514,813,000 93,917,000 407,417,000 90,813,000 -63,777,000 -251,035,000 142,929,000 -162,158,000 61,198,000 -79,265,000 -18,533,000 174,517,000 164,560,000 -9,866,000 403,186,000 28,190,000 17,876,000 -198,210,000 271,020,000 -30,139,000 122,311,000 -141,680,000 409,949,000 167,850,000 12,462,000 -77,042,000 291,267,000 64,847,000 -24,146,000 -143,313,000 203,269,000 113,816,000 -86,991,000 -48,909,000 85,971,000 -162,133,000 -333,466,000 -221,063,000 -42,027,000 -133,859,000 -56,568,000 -211,032,000 110,417,000 14,081,000          18,264,000 236,695,000 29,695,000 -19,997,000 103,519,000 311,079,000 -74,991,000                 -38,101,000 97,964,000 55,389,000     
      capex
    		-11,878,000 -11,511,000 -11,220,000 -10,083,000 -9,474,000 -10,300,000 -9,454,000 -9,056,000 -8,088,000 -9,486,000 -8,838,000 -11,468,000 -11,644,000 -11,559,000 -10,563,000 -11,180,000 -9,933,000 -9,188,000 -9,098,000 -7,687,000 -5,930,000 -8,553,000 -6,671,000 -8,248,000 -9,947,000 -12,239,000 -10,025,000 -3,233,000 -710,000 -1,503,000 -1,924,000 -1,442,000 -2,543,000 -3,085,000 -1,015,000 -2,104,000 196,000 -1,463,000 -1,413,000 -2,577,000 -510,000 -1,004,000 -586,000 -1,637,000 -1,146,000 -1,436,000 -1,576,000 -1,032,000 -607,000 -322,000 -430,000 -697,000 -460,000          -191,000 0 0 0 0 0 0                 -1,642,000 -7,437,000 -2,087,000     
      free cash flows
    		185,845,000 156,927,000 -345,541,000 352,558,000 -99,387,000 51,176,000 19,064,000 301,120,000 155,705,000 505,327,000 85,079,000 395,949,000 79,169,000 -75,336,000 -261,598,000 131,749,000 -172,091,000 52,010,000 -88,363,000 -26,220,000 168,587,000 156,007,000 -16,537,000 394,938,000 18,243,000 5,637,000 -208,235,000 267,787,000 -30,849,000 120,808,000 -143,604,000 408,507,000 165,307,000 9,377,000 -78,057,000 289,163,000 65,043,000 -25,609,000 -144,726,000 200,692,000 113,306,000 -87,995,000 -49,495,000 84,334,000 -163,279,000 -334,902,000 -222,639,000 -43,059,000 -134,466,000 -56,890,000 -211,462,000 109,720,000 13,621,000          18,073,000 236,695,000 29,695,000 -19,997,000 103,519,000 311,079,000 -74,991,000                 -39,743,000 90,527,000 53,302,000     
      cash flows from investing activities:
    		                                                                                            
      contributions to unconsolidated joint ventures
    		   -1,898,000 -1,674,000 -7,799,000 -3,138,000 -4,233,000 -5,748,000 -4,490,000 -13,223,000 -6,830,000 -5,233,000 -7,808,000 -8,568,000 -466,000 -4,757,000 -3,675,000 -2,625,000 -4,325,000 -2,462,000 -1,918,000 -1,668,000 -3,634,000 -3,411,000 -1,718,000 -2,527,000 -7,031,000 -4,040,000 -3,575,000 -8,025,000 -3,540,000 -4,049,000 -2,355,000 -8,750,000 -4,602,000 -250,000 -459,000 -291,000 329,000 -7,711,000 -10,830,000 -2,414,000  -17,792,000 -7,624,000 -8,618,000                                              
      return of investments in unconsolidated joint ventures
    		650,000 1,759,000 556,000 0    0 0 0 5,100,000 645,000 0 0 1,255,000 114,000 10,206,000   3,835,000 8,316,000 0 500,000 0 0 0 5,001,000 0 8,835,000 0 1,099,000 2,876,000 1,201,000 5,851,000 1,107,000 812,000    0                                                     
      proceeds from sale of investment
    		   0 0                                                                                        
      purchases of property and equipment
    		-11,878,000 -11,511,000 -11,220,000 -10,083,000 -9,474,000 -10,300,000 -9,454,000 -9,056,000 -8,088,000 -9,486,000 -8,838,000 -11,468,000 -11,644,000 -11,559,000 -10,563,000 -11,180,000 -9,933,000 -9,188,000 -9,098,000 -7,687,000 -5,930,000 -8,553,000 -6,671,000 -8,248,000 -9,947,000 -12,239,000 -10,025,000 -3,233,000 -710,000 -1,503,000 -1,924,000 -1,442,000 -2,543,000 -3,085,000 -1,015,000 -2,104,000 196,000 -1,463,000 -1,413,000 -2,577,000 -510,000 -1,004,000 -586,000 -1,637,000 -1,146,000 -1,436,000 -1,576,000 -1,032,000 -607,000 -322,000 -430,000 -697,000 -460,000 -163,000 -429,000 -168,000 34,000 -34,000 -74,000  -188,000 -263,000 -191,000         3,267,000 1,309,000 -33,000 -3,858,000 -6,250,000 -5,319,000 -5,755,000 -4,791,000 -4,054,000 -5,389,000 -6,144,000 -3,831,000 -6,390,000 -4,117,000 -1,642,000 -7,437,000 -2,087,000 -25,293,000 -3,276,000   
      net cash from investing activities
    		-21,821,000 -9,752,000 -10,664,000 -11,981,000 -9,156,000 -16,390,000 -12,592,000 -13,289,000 -13,836,000 -13,976,000 -16,961,000 -17,653,000 -16,877,000 -19,367,000 -17,876,000 -11,532,000 -4,484,000 -10,345,000 -11,723,000 -8,177,000 -76,000 -10,471,000 -7,839,000 -11,882,000 -13,358,000 -13,957,000 -1,747,000 -10,264,000 4,085,000 -5,078,000 -8,850,000 -2,106,000 -5,391,000 411,000 -8,658,000 -5,894,000 3,441,000 -1,922,000 -1,704,000 -2,248,000 5,779,000 -11,834,000 -3,000,000 -16,700,000 -18,938,000 -9,060,000 -84,000 -5,335,000 -5,012,000 -5,669,000 -734,000 -2,573,000 -2,145,000 -2,160,000 6,118,000                                    2,476,000 3,758,000 
      cash flows from financing activities:
    		                                                                                            
      borrowings under revolving credit facility
    		175,000,000 200,000,000 180,000,000     0 0 0 170,000,000 200,000,000 410,000,000 400,000,000 675,000,000         150,000,000 130,000,000 190,000,000 140,000,000 0                                                                 
      repayments under revolving credit facility
    		-125,000,000 -100,000,000 -80,000,000     0 0 -100,000,000 -220,000,000 -400,000,000 -460,000,000 -250,000,000 -425,000,000         -200,000,000 -130,000,000 -140,000,000 -140,000,000 0                                                                 
      payments on mortgages and land contracts due to land sellers and other loans
    		   1,905,000 -1,083,000 -822,000 -917,000 -655,000 -187,000 -2,764,000 -237,000 -167,000 0 0 -400,000 -1,650,000 0 0 -600,000 -4,620,000 -19,251,000   -8,967,000 -4,129,000 0 -28,020,000 -4,257,000 0 -7,132,000 -3,362,000 -13,939,000 -30,803,000 -16,212,000 -45,428,000 -25,932,000 -15,274,000 -20,980,000 -5,659,000 -9,141,000 -5,979,000 -5,035,000 -2,722,000 -13,626,000 -16,816,000 -3,821,000 -2,655,000 -21,891,000 -6,575,000 -20,827,000 -17,003,000 -5,199,000 -14,404,000 -4,980,000 -1,715,000 -3,397,000 -5,238,000 -10,325,000 -70,501,000                                  
      issuance of common stock under employee stock plans
    		207,000 0 445,000 1,161,000 0 468,000 8,804,000 249,000 3,598,000 3,876,000 1,134,000     8,183,000 0 968,000 2,538,000 7,654,000 0 178,000 8,226,000 11,795,000 2,267,000 15,630,000 832,000 2,578,000 12,662,000 1,825,000 2,946,000 2,485,000 17,628,000 2,387,000 662,000 -2,008,000    304,000 411,000   1,694,000 138,000   34,000 41,000 2,054,000 52,000 142,000 98,000 178,000 175,000 370,000 984,000 373,000 69,000 242,000 712,000 665,000 232,000 878,000 505,000 896,000 795,000 1,847,000 1,518,000 108,000 3,485,000 1,487,000 2,547,000 5,914,000 2,362,000 1,225,000 -1,356,000 12,600,000 52,583,000 25,705,000 32,585,000 36,261,000 1,428,000 13,465,000 15,545,000 2,328,000 6,031,000 13,277,000  2,024,000   
      stock repurchases
    		-188,460,000 -200,000,000 -50,000,000  -150,000,000 -50,000,000 -50,000,000 -161,850,000 -82,500,000 -92,088,000 -75,000,000 -50,000,000 -50,000,000   0                -4,130,000 0 0 -2,543,000 -828,000 0 -5,000 -87,526,000 -267,000 0 -279,000 -21,000 -500,000 0   -521,000 -7,934,000                                            
      tax payments associated with stock-based compensation awards
    		0 0 -15,884,000 -8,511,000 0 0 -16,505,000 -4,490,000 0 0 -9,748,000 -3,749,000 0 0 -12,153,000 -3,881,000 0 0 -8,456,000 -3,284,000 0 0 -6,219,000 -3,943,000 0 -3,000 -3,342,000 -1,689,000 0 0 -6,787,000                                                              
      payments of cash dividends
    		-16,293,000 -17,202,000 -19,311,000 -18,017,000 -18,407,000 -18,775,000 -16,355,000 -15,196,000 -15,928,000 -13,231,000 -12,476,000 -12,538,000 -12,772,000 -13,012,000 -14,130,000 -13,087,000 -13,168,000 -13,733,000 -14,064,000 -13,637,000 -8,097,000 -8,098,000 -8,233,000 -8,018,000 -7,897,000 -2,189,000 -2,266,000 -2,206,000 -2,186,000 -2,178,000 -2,322,000 -2,163,000 -2,138,000 -2,126,000 -2,215,000 -2,115,000 -2,107,000 -2,094,000 -2,270,000 -2,296,000 -2,291,000 -2,300,000 -2,299,000 -2,300,000 -2,294,000 -2,294,000 -2,094,000 -2,094,000 -2,093,000 -2,090,000 -2,089,000 -1,925,000 -1,928,000 -1,928,000 -4,818,000 -4,817,000 -4,810,000 -4,807,000 -4,806,000 -4,808,000 -4,808,000 -4,804,000 -4,803,000 -4,802,000 -4,771,000 -4,768,000 -4,756,000 -4,865,000 -19,379,000 -19,368,000 -19,355,000 -19,326,000 -19,311,000 -19,295,000 -19,238,000 -19,275,000 -19,257,000 -19,723,000 -20,003,000 -15,651,000 -15,321,000 -15,193,000 -9,724,000 -9,841,000 -9,817,000 -2,903,000 -2,955,000 -3,029,000  -2,994,000   
      net cash from financing activities
    		-154,546,000 -117,202,000 15,250,000 -127,160,000 -169,490,000 -69,129,000 -74,973,000 -181,942,000 -95,017,000 -204,207,000 -146,327,000 -256,823,000 -123,260,000 86,988,000 219,512,000 -190,606,000 -91,060,000 -12,765,000 -20,582,000 -13,887,000 -27,348,000 -8,983,000 -6,226,000 -121,283,000 -9,759,000 -336,562,000 137,245,000 -40,613,000 -289,524,000 -7,485,000 -9,525,000 -181,789,000 -17,024,000 -15,951,000 -154,850,000 -30,095,000 -7,115,000 -22,239,000 -90,468,000 4,441,000 -206,804,000 -7,166,000 241,220,000 -9,511,000 -7,191,000 523,346,000 -4,926,000 193,420,000 -15,870,000 -22,115,000 311,636,000 -5,280,000 93,227,000                        50,344,000 204,321,000 482,805,000 265,681,000 -83,629,000 315,944,000           
      net decrease in cash and cash equivalents
    		21,356,000 41,484,000 -329,735,000    -59,047,000    -69,371,000  -49,324,000 3,844,000 -49,399,000    -111,570,000    -23,931,000  5,073,000 -332,643,000 -62,712,000  -315,578,000 109,748,000 -160,055,000  145,435,000 -3,078,000 -240,550,000                   10,586,000 -110,699,000  -146,923,000    -65,770,000    -44,130,000 -27,731,000 -114,274,000  -362,411,000 -9,944,000 -15,170,000    -300,017,000  80,039,000 -54,523,000 -64,722,000 -4,787,000   -55,113,000   -9,449,000 -173,825,000 -76,200,000   -73,024,000 -85,183,000 
      cash and cash equivalents at beginning of period
    		0 0 599,193,000  0 0 727,342,000  0 0 330,198,000  0 0 292,136,000  0 0 682,529,000  0 0 454,858,000  0 0 575,119,000  0 0 720,861,000  0 0 593,000,000  0 0 560,341,000  0 0 358,768,000  0 0 532,523,000  0 0 525,688,000  0 0 418,074,000  0 0 908,430,000  0 0 1,177,961,000  0 0 1,141,518,000  0 0 1,343,742,000    654,628,000  0 0 153,990,000 0 0 234,196,000 0 0 138,119,000 0 0 329,985,000  0 0 281,333,000 
      cash and cash equivalents at end of period
    		21,356,000 41,484,000 269,458,000  -268,559,000 -24,043,000 668,295,000  54,940,000 296,630,000 260,827,000  -49,324,000 3,844,000 242,737,000  -257,702,000 38,088,000 570,959,000  147,093,000 145,106,000 430,927,000  5,073,000 -332,643,000 512,407,000  -315,578,000 109,748,000 560,806,000  145,435,000 -3,078,000 352,450,000  61,173,000 -48,307,000 324,856,000  -87,209,000 -105,991,000 548,079,000  -188,262,000 180,820,000 306,450,000  -154,741,000 -84,352,000 625,558,000  105,163,000 10,586,000 307,375,000  -146,923,000 -115,302,000 742,498,000  -65,770,000 -212,384,000 1,201,761,000  -44,130,000 -27,731,000 1,027,244,000  -362,411,000 -9,944,000 1,328,572,000    354,611,000  80,039,000 -54,523,000 89,268,000 -4,787,000 -56,834,000 162,948,000 -55,113,000 -135,296,000 229,177,000 -9,449,000 -173,825,000 253,785,000  -2,247,000 -73,024,000 196,150,000 
      amortization of debt issuance costs and premiums
    		  889,000 881,000 873,000 869,000 860,000 856,000 852,000 838,000 835,000 438,000 747,000                                                                                
      loss on early extinguishment of debt
    		           0    0                0 0 0 5,685,000                                                          
      proceeds from issuance of debt
    		           0    0        300,000,000 0 0 405,250,000             0 0 0 250,000,000 0 0   450,000,000 0 0 230,000,000                                          
      repayment of senior notes
    		           -350,000,000    -180,171,000        -356,231,000 0 -400,000,000 -230,000,000 0    -165,000,000 0 0 -105,326,000     0            0 -252,164,000 0 -340,481,000                                      
      payment of issuance costs
    		           -369,000                                                                                 
      borrowings under senior unsecured term loan
    		                                                                                            
      stock repurchases and excise taxes paid
    		                                                                                            
      net increase in cash and cash equivalents
    		   223,500,000 -268,559,000   114,945,000 54,940,000       -59,209,000 -257,702,000   -40,597,000 147,093,000                 -48,307,000 -235,485,000   -105,991,000 189,311,000   180,820,000 -226,073,000 146,058,000 -154,741,000 -84,352,000 99,870,000 102,564,000       -165,932,000    23,800,000                   -71,248,000   91,058,000    209,106,000    
      cash and cash equivalents at beginning of year
    		                                                                                            
      cash and cash equivalents at end of year
    		                                                                                            
      issuance costs for unsecured revolving credit facility
    		             0 -3,805,000                                                                              
      amortization of premiums and issuance costs
    		              549,000                                                                              
      amortization of discounts, premiums and issuance costs
    		               649,000 907,000 652,000 644,000 636,000 628,000 621,000 613,000 926,000 903,000 1,129,000 1,468,000                                                                  
      proceeds from sale of building
    		                       0 0 0 5,804,000                                                                  
      payment of debt issuance costs
    		                        0 0 -5,209,000             0 -1,224,000 -348,000 -2,989,000 0 0   -6,439,000 0 -3,208,000 -6,878,000                                          
      excess tax benefits from stock-based compensation
    		                                                                                            
      equity in (income) loss of unconsolidated joint ventures
    		                          -396,000    426,000 -1,904,000 154,000 -315,000 -760,000 2,985,000 404,000 1,022,000 1,190,000          662,000      -70,000  824,000 -570,000 55,987,000 495,000 951,000 -2,081,000 -137,000        33,730,000                      
      amortization of discounts and issuance costs
    		                           1,555,000 1,552,000 1,573,000 1,552,000 1,567,000 1,692,000 1,649,000 1,665,000 1,908,000 1,898,000 1,889,000 1,881,000 1,872,000 1,952,000 1,994,000 1,920,000 1,878,000 1,886,000 1,760,000 1,600,000 1,536,000 1,424,000 1,416,000 971,000 866,000 803,000 768,000 579,000 490,000 552,000 556,000 552,000 544,000 540,000 535,000 530,000 475,000 429,000 342,000 340,000 -880,000 1,762,000 594,000 586,000 580,000 624,000 -286,000 1,560,000 779,000 1,092,000 1,279,000 796,000 -78,000 1,064,000 877,000 763,000 461,000 407,000        
      change in restricted cash
    		                                   602,000 2,915,000 840,000 4,987,000 15,684,000 2,185,000 771,000 -749,000 5,221,000 11,781,000 -2,154,000 -177,000 -275,000 691,000 2,297,000 -2,257,000 3,751,000 17,069,000 708,000 591,000 48,705,000 777,000 7,224,000 -5,710,000 907,000 -8,627,000 -17,535,000 24,070,000 -10,112,000 -2,020,000 9,048,000 4,196,000                          
      proceeds from sale of investment in unconsolidated joint venture
    		                                           0 0 0 10,110,000                             0                 
      proceeds from issuance of common stock
    		                                           0 0   0 0 -308,000 109,811,000                                          
      land option contract abandonments
    		                                         536,000 448,000   357,000 433,000                                              
      equity in (income) loss/(gain) on wind down of unconsolidated joint ventures
    		                                                                                            
      return of investments in (contributions to) unconsolidated joint ventures
    		                                               -4,303,000 -4,405,000 -5,347,000 -304,000                                          
      loss on loan guaranty
    		                                                       -6,565,000 0 14,572,000 22,758,000                                  
      gain on sale of operating property
    		                                                       0 0 0 -8,825,000                                  
      benefit from deferred income taxes
    		                                                   0                    446,218,000 -120,236,000 -99,982,000 -17,652,000 -204,585,000 14,192,000 10,662,000 8,874,000 9,281,000 -3,705,000 4,603,000 -3,658,000 10,106,000 3,536,000        
      gain on early extinguishment of debt
    		                                                    8,275,000 0 2,003,000                                      
      proceeds from sale of operating property
    		                                                       0 0 0 80,600,000                                  
      inventory impairments
    		                                                                                            
      gain on early extinguishment of debt/loss on voluntary termination of revolving credit facility
    		                                                                                            
      tax benefits from stock-based compensation
    		                                                           -2,182,000 0 -451,000 2,050,000  0                            
      proceeds from issuance of senior notes
    		                                                   0 350,000,000 0 344,831,000         0            0 0   449,520,000 0 298,071,000 347,484,000 0 248,685,000        
      payment of senior notes issuance costs
    		                                                   -250,000 -5,444,000 -935,000 -5,816,000         0                             
      excess tax benefit associated with exercise of stock options
    		                                                           0 0          1,663,000 -168,000 -9,000 -761,000 56,000 -6,512,000                 
      stock-based compensation expense
    		                                                    1,479,000 1,549,000 1,656,000  1,990,000 1,795,000 1,980,000 2,099,000 1,946,000 1,964,000 2,065,000 1,759,000 729,000 1,021,000 468,000 1,188,000 1,199,000 1,244,000 1,387,000 3,251,000 2,542,000 1,714,000 1,847,000 3,833,000                 
      change in assets and liabilities:
    		                                                                                            
      return of investment in (contributions to) unconsolidated joint ventures
    		                                                    -1,685,000 -1,997,000 6,547,000                                      
      equity in loss of unconsolidated joint ventures
    		                                                               -3,234,000 21,883,000 8,150,000 8,801,000 56,526,000 41,625,000                        
      adjustments to reconcile net income to net cash used by operating activities:
    		                                                                                            
      net cash used by operating activities
    		                                                      -109,584,000  -38,615,000                  -120,482,000  -4,728,000 -212,268,000 -472,247,000 -233,474,000 45,666,000 -366,433,000           
      net cash used by financing activities
    		                                                      -7,233,000 40,861,000 -108,287,000   -31,442,000 -14,266,000   -14,036,000 -46,213,000 -18,503,000 -213,420,000 -13,162,000 -325,406,000 -18,579,000 -18,443,000               26,733,000 -191,727,000 -131,033,000     
      adjustments to reconcile net income to net cash provided (used) by operating activities:
    		                                                                                            
      net cash provided (used) by operating activities
    		                                                          -164,899,000 30,179,000 -51,539,000          58,702,000 825,511,000 245,357,000          -162,186,000 -143,856,000 -141,496,000     7,160,000 137,205,000 80,540,000 
      investments in unconsolidated joint ventures
    		                                                       -65,286,000 -55,000 -1,308,000 -611,000 -14,136,000 223,000 584,000 -2,340,000 49,000 -27,281,000 15,058,000 -7,748,000 1,839,000 36,240,000 -36,899,000 -60,805,000 -126,147,000 -28,674,000 -52,856,000 -33,874,000 -108,349,000 -18,093,000 -40,840,000 -70,504,000 -33,290,000 -13,666,000 -14,832,000 -31,386,000 -46,271,000 -2,323,000 1,427,000 -4,358,000 -3,735,000 -7,525,000 281,000   
      net cash provided (used) by investing activities
    		                                                       -65,454,000 -21,000 -1,342,000 79,915,000         -112,616,000    -122,880,000              1,919,000 -80,062,000 -556,000     
      repayment of senior and senior subordinated notes
    		                                                               0                             
      repurchases of common stock
    		                                                           0 0 0 -350,000 0 0 0 -616,000 -410,000 0 0 -557,000 -1,987,000 -671,000 0 -4,238,000 -4,146,000 -89,985,000 -134,506,000 -165,443,000 0   0   -48,712,000 -35,831,000 -23,789,000  -97,592,000   
      (gain) on early extinguishment of debt/loss on voluntary termination of revolving credit facility
    		                                                        0                                    
      gain on early extinguishment of debt/voluntary reduction of revolving credit facility
    		                                                          -3,612,000                                  
      net cash provided (used) by financing activities
    		                                                          -80,948,000    8,067,000         -19,658,000 -802,276,000 -177,783,000 -141,803,000        206,768,000 70,067,000 284,946,000    135,561,000 -8,902,000 -212,705,000 -169,481,000 
      loss on voluntary termination of revolving credit facility/early redemption of debt
    		                                                           0                                 
      goodwill impairment
    		                                                                   43,400,000 0   0                     
      sales (purchases) of property and equipment
    		                                                               -130,000 -331,000 -93,000 -821,000 949,000 1,746,000 -998,000 5,376,000                      
      net cash used by investing activities
    		                                                           -13,914,000   -2,531,000    -4,373,000   -37,897,000 -55,429,000   -67,609,000 -37,732,000 -113,929,000 34,423,000 -46,576,000 -75,280,000 -36,994,000 -18,871,000 -20,759,000 -99,695,000 -61,507,000 -52,392,000        
      payments on mortgages, land contracts and other loans
    		                                                            -1,543,000 -60,746,000 -11,082,000 0 -42,265,000 -27,875,000 -8,843,000 -9,734,000 -1,731,000 -982,000 -353,000 0 -873,000 49,310,000 -162,556,000 -86,171,000 -49,710,000 -37,429,000 -28,175,000 -6,387,000 -23,626,000 -24,181,000 -43,733,000 -6,079,000 -3,302,000 -9,385,000 -42,857,000 -26,057,000  -61,374,000   
      loss on voluntary termination of revolving credit facility
    		                                                                                            
      repayment of senior subordinated notes
    		                                                                 0 -200,000,000                          
      loss on voluntary reduction of revolving credit facility
    		                                                              1,366,000                              
      income from discontinued operations, net of income taxes
    		                                                                       0 -4,904,000                    
      gain on sale of discontinued operations, net of income taxes
    		                                                                       0                     
      loss on early redemption of debt
    		                                                               0    0                         
      tax benefit from stock-based compensation
    		                                                                                            
      net cash from operating activities — continuing operations
    		                                                                   311,079,000                         
      net cash from operating activities — discontinued operations
    		                                                                       0 110,663,000                    
      sale of discontinued operations, net of cash divested
    		                                                                       0                     
      net cash provided (used) by investing activities — continuing operations
    		                                                                   -112,616,000    -122,880,000                     
      net cash used by investing activities — discontinued operations
    		                                                                       0                     
      redemption of term loan
    		                                                                                            
      net cash used by financing activities — continuing operations
    		                                                                    -325,406,000 -18,579,000 -18,443,000                      
      net cash used by financing activities — discontinued operations
    		                                                                       0                     
      tax benefit associated with exercise of stock options
    		                                                                  1,152,000 0 51,000                        
      gain on sale of investment in unconsolidated joint venture
    		                                                                           0                 
      sale of investment in unconsolidated joint venture
    		                                                                                            
      net payments on credit agreements and other short-term borrowings
    		                                                                                     96,343,000 -116,090,000 -253,681,000  13,986,000   
      proceeds from (redemption of) term loan
    		                                                                       0                     
      redemption of senior subordinated notes
    		                                                                   0    0              0 0 -129,016,000  0   
      net cash provided (used) by financing activities — continuing operations
    		                                                                       -19,658,000                     
      inventory and joint venture impairments and land option contract abandonments
    		                                                                     176,531,000 223,931,000                      
      net cash provided (used) by operating activities — continuing operations
    		                                                                     46,532,000 58,702,000 825,511,000                     
      net cash used by investing activities — continuing operations
    		                                                                     -37,897,000 -55,429,000                      
      gain on sale of mortgage banking assets
    		                                                                                            
      stock option income tax benefits
    		                                                                                            
      sale of mortgage banking assets
    		                                                                                            
      equity in pretax loss (income) of unconsolidated joint ventures
    		                                                                        6,365,000                    
      gain on sale of investment in unconsolidated joint ventures
    		                                                                                            
      inventory and joint venture impairments and land option abandonments
    		                                                                                            
      sale of investment in unconsolidated joint ventures
    		                                                                                            
      net proceeds from credit agreements and other short term borrowings
    		                                                                                            
      cash and cash equivalents, beginning of period
    		                                                                        149,554,000                    
      cash and cash equivalents, end of period
    		                                                                        307,642,000                    
      inventory impairments and land option cost write-offs
    		                                                                         308,185,000 8,697,000 343,329,000                 
      net cash used by operating activities — continuing operations
    		                                                                                            
      net cash used by investing activities – continuing operations
    		                                                                                            
      net cash used by investing activities – discontinued operations
    		                                                                                            
      proceeds from term loan
    		                                                                           0 0                
      net cash provided (used) by financing activities – continuing operations
    		                                                                                            
      net cash used by financing activities – discontinued operations
    		                                                                                            
      summary of cash and cash equivalents:
    		                                                                                            
      construction
    		                                                                         -55,836,000 327,924,000 540,715,000 88,816,000 -61,544,000 71,224,000              
      financial services
    		                                                                         -11,736,000 26,687,000 -871,000 -8,777,000 7,021,000 18,044,000              
      discontinued operations
    		                                                                                            
      total cash and cash equivalents
    		                                                                         -1,484,000 354,611,000 539,844,000 80,039,000 -54,523,000 89,268,000              
      equity in pretax income of unconsolidated joint ventures
    		                                                                          -5,763,000 16,203,000 -15,793,000 -2,399,000 -6,905,000 -2,674,000 -2,162,000 -5,617,000 -5,600,000 -2,427,000 -1,237,000        
      minority interests
    		                                                                          15,504,000 22,331,000 16,123,000 18,129,000 11,717,000 22,121,000 19,066,000 14,360,000 18,535,000 13,933,000 8,706,000        
      payments received on first mortgages and mortgage-backed securities
    		                                                                           520,000 16,000 17,000 15,000 162,000 92,000 121,000 475,000 759,000 766,000 2,454,000 2,437,000 1,401,000 2,490,000 2,488,000   
      net proceeds from credit agreements and other short-term borrowings
    		                                                                          45,897,000    644,116,000   37,511,000           
      payments to minority interests
    		                                                                          -3,974,000 -6,566,000 -2,985,000 -9,629,000 -5,713,000 -19,870,000   -8,424,000   -8,983,000 2,255,000 -2,829,000  -4,895,000   
      supplemental disclosures of cash flow information:
    		                                                                                            
      interest paid, net of amounts capitalized
    		                                                                          54,430,000  34,744,000 -33,121,000 43,557,000 34,964,000 -28,847,000 33,001,000 22,316,000 -15,204,000 19,492,000 21,087,000 -10,069,000 21,853,000 5,702,000 15,345,000 6,242,000 9,266,000 
      income taxes paid
    		                                                                          11,259,000 17,245,000 114,407,000 220,849,000 11,451,000 175,810,000 40,686,000 6,788,000 38,683,000 48,947,000 20,342,000 32,445,000 22,000,000 17,553,000 43,888,000 34,042,000 30,606,000 12,747,000 
      supplemental disclosures of noncash activities:
    		                                                                                            
      cost of inventories acquired through seller financing
    		                                                                          157,964,000 37,041,000 63,632,000 99,946,000 34,590,000 48,311,000 23,316,000 90,615,000 12,576,000 22,045,000 16,331,000 2,341,000 6,828,000 16,978,000 -69,717,000 8,154,000 73,247,000 20,953,000 
      increase in consolidated inventories not owned
    		                                                                          -171,520,000                  
      change in assets and liabilities, net of effects from acquisitions:
    		                                                                                            
      acquisitions, net of cash acquired
    		                                                                                  -65,019,000   0       
      proceeds from sale of mortgage banking assets
    		                                                                                            
      net sales of mortgages held for long-term investment
    		                                                                           150,000 52,000   188,000 92,000 96,000 66,000 65,000 139,000 -320,000 2,048,000 3,865,000  2,000   
      net proceeds from (payments on) credit agreements and other short-term borrowings
    		                                                                           -642,455,000         35,878,000        
      redemption of senior notes
    		                                                                                            
      payments on collateralized mortgage obligations
    		                                                                           -326,000 -235,000   -135,000 -39,000 -96,000 -689,000 1,516,000 -2,535,000 -1,955,000 -2,280,000 -1,241,000  -2,359,000   
      inventory of consolidated variable interest entities
    		                                                                           -91,567,000 -51,279,000 56,789,000 67,927,000 42,031,000 41,606,000 889,000 23,774,000 10,445,000 8,995,000        
      excess tax benefit from stock-based compensation
    		                                                                             -4,436,000 -5,440,000              
      net proceeds from (payments on) credit agreements and other short term borrowings
    		                                                                                            
      net proceeds from (payments on) credit agreements and other short- term borrowings
    		                                                                                            
      change in assets and liabilities, net of effects from acquisition:
    		                                                                                            
      acquisition, net of cash acquired
    		                                                                                    -46,857,000        
      payments from (to) minority interests
    		                                                                                 -16,429,000   492,000        
      net proceeds from (payments on) credit agreements and other short - term borrowings
    		                                                                                            
      proceeds from issuance of senior subordinated notes
    		                                                                                     0 0 295,332,000  0   
      net sales (originations) of mortgages held for long-term investment
    		                                                                                            
      conversion of feline prides
    		                                                                                            
      issuance of promissory notes to repurchase common stock
    		                                                                                            
      issuance of french subsidiary stock
    		                                                                                            
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.