7Baggers
Quarterly
Annual
    Unit: USD2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-12-31 2011-03-31 
      
    		                                                        
      operating activities:
    		                                                        
      net income
    		121,243,000 111,237,000 133,469,000 145,449,000 146,746,000 138,061,000 105,282,000 139,016,000 118,001,000 103,066,000 130,395,000 131,590,000 136,838,000 91,839,000 113,383,000 91,012,000 107,607,000 84,866,000 80,083,000 73,537,000 54,508,000 31,746,000 41,780,000 37,838,000 30,246,000 17,723,000 32,407,000 29,282,000 27,911,000 18,063,000 15,882,000 22,327,000 16,989,000 16,883,000 20,562,000 10,942,000 15,916,000 9,189,000 13,275,000 15,570,000 13,350,000 9,568,000 10,986,000 13,617,000 13,554,000 12,632,000 14,261,000 125,311,000 7,264,000 4,587,000 5,015,000 8,314,000 3,204,000 -3,186,000 -2,976,000 -17,039,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                        
      mortgage loan originations
    		-750,692,000 -620,968,000 -761,859,000 -683,118,000 -639,155,000 -600,946,000 -530,685,000 -578,205,000 -515,533,000 -494,461,000 -586,987,000 -486,588,000 -516,259,000 -479,781,000 -609,340,000 -542,555,000 -572,156,000 -515,877,000 -556,150,000 -513,456,000 -428,020,000 -345,950,000 -423,673,000 -388,033,000 -319,789,000 -251,200,000 -372,074,000 -308,598,000 -284,321,000 -235,481,000 -345,933,000 -263,755,000 -251,486,000 -217,346,000 -314,785,000 -250,306,000 -227,561,000 -177,038,000 -270,601,000 -203,701,000 -182,399,000 -151,285,000 -207,073,000 -191,935,000 -154,048,000 -124,362,000 -200,873,000 -165,660,000 -139,732,000 -121,244,000 -165,633,000 -139,020,000 -118,800,000 -97,255,000 -119,424,000 -71,034,000 
      proceeds from the sale of mortgage loans
    		708,316,000 671,469,000 714,286,000 671,129,000 646,326,000 539,379,000 569,149,000 560,159,000 548,178,000 514,346,000 535,454,000 493,315,000 525,345,000 549,025,000 548,918,000 497,754,000 623,602,000 525,706,000 463,132,000 535,608,000 417,380,000 348,725,000 397,472,000 381,655,000 315,891,000 299,823,000 321,442,000 300,025,000 287,575,000 297,125,000 265,689,000 263,690,000 272,612,000 262,644,000 251,660,000 254,014,000 222,446,000 210,960,000 219,799,000 202,799,000 185,334,000 165,257,000 191,897,000 178,775,000 145,743,000 153,210,000 175,575,000 160,128,000 143,455,000 135,568,000 150,925,000 130,788,000 115,068,000 108,587,000 98,497,000 83,195,000 
      fair value adjustment of mortgage loans held for sale
    		92,000 -5,544,000 6,845,000 -3,569,000 622,000 2,849,000 -7,612,000 1,710,000 3,139,000 -3,975,000 -7,679,000 4,396,000 -3,081,000 5,956,000 624,000 1,704,000 -6,682,000 6,940,000 -1,229,000 1,338,000 3,312,000 -3,739,000 -721,000 1,965,000 -346,000 1,363,000 -3,830,000 1,384,000 -642,000 -676,000 651,000 64,000 484,000 -4,874,000 4,650,000 1,126,000 -826,000 -1,359,000 1,351,000 -1,585,000 1,182,000 -358,000 -635,000 959,000 -727,000 -2,788,000 3,876,000 -3,365,000 2,507,000 -924,000 1,925,000 -327,000 -702,000 598,000 318,000 -2,031,000 
      capitalization of originated mortgage servicing rights
    		-1,314,000 -1,469,000 -1,724,000 -1,389,000 -1,329,000 -1,127,000 -1,870,000 -1,432,000 -1,490,000 -1,390,000 -1,782,000 -1,280,000 -2,227,000 -3,583,000 -2,617,000 -3,812,000 -5,785,000 -3,999,000 -1,929,000 -1,886,000 -926,000 -1,307,000 -1,318,000 -1,778,000 -785,000 -803,000 -901,000 -1,163,000 -1,420,000 -1,066,000 -1,132,000 -1,634,000 -1,264,000 -975,000 -1,219,000 -1,386,000 -1,403,000 -1,561,000 -937,000 -1,506,000 -1,467,000 -816,000 -963,000 -1,040,000             
      amortization of mortgage servicing rights
    		228,000 257,000 360,000 342,000 257,000 355,000 309,000 281,000 465,000 523,000 487,000 483,000 354,000 300,000 534,000 523,000 352,000 231,000 580,000 688,000 595,000 564,000 435,000 455,000 357,000 300,000 204,000 197,000 86,000 297,000 280,000 243,000 98,000 448,000 390,000 511,000 412,000 339,000 281,000 177,000 291,000 261,000               
      depreciation
    		3,845,000 3,689,000 3,627,000 3,665,000 3,542,000 3,304,000 3,351,000 3,219,000 3,132,000 3,214,000 3,228,000 3,223,000 3,287,000 3,244,000 3,197,000 3,137,000 3,124,000 3,233,000 3,338,000 3,261,000 3,002,000 3,035,000 3,036,000 2,957,000 2,857,000 2,841,000 2,892,000 2,786,000 2,708,000 2,570,000 2,552,000 2,470,000 2,327,000 2,281,000 2,224,000 2,179,000 2,116,000 2,033,000 1,789,000 1,682,000 1,632,000 1,509,000 1,442,000 1,341,000 1,266,000 1,126,000 1,196,000 1,211,000 1,249,000 1,317,000 2,218,000 2,132,000 1,453,000 1,355,000 1,295,000 1,252,000 
      amortization of debt issue costs
    		831,000 831,000 823,000 809,000 808,000 808,000 819,000 727,000 669,000 660,000 635,000 644,000 645,000 644,000  643,000 648,000 646,000  641,000                                     
      gain on sale of mortgage servicing rights
    		0 -1,718,000  0 0 -2,613,000            -252,000                                       
      stock-based compensation expense
    		3,916,000 4,200,000 3,705,000 3,510,000 3,810,000 3,539,000 4,364,000 2,682,000 2,301,000 2,023,000 2,174,000 2,764,000 2,018,000 1,831,000 2,360,000 1,794,000 2,141,000 2,264,000 2,223,000 2,189,000 1,753,000 973,000 1,760,000 1,492,000 1,682,000 912,000 2,203,000 1,041,000 1,691,000 1,039,000 2,010,000 1,468,000 1,538,000 1,028,000 1,832,000 1,357,000 1,210,000 916,000 869,000 1,095,000 1,110,000 868,000 711,000 710,000 1,084,000 710,000 509,000 519,000 797,000 519,000 336,000 434,000 530,000 434,000  483,000 
      excess tax benefits on equity compensation
    		-320,000 -771,000 -687,000 -2,204,000                                                     
      change in assets and liabilities:
    		                                                        
      inventory
    		-76,307,000 -107,275,000 37,332,000 -191,194,000 -159,643,000 15,775,000 -61,899,000 -48,421,000 -18,268,000 175,316,000 184,386,000 -196,566,000 -207,175,000 -129,295,000 -96,010,000 -278,893,000 -98,955,000 -34,331,000 -72,417,000 -10,921,000 -6,525,000 -45,078,000 67,715,000 -66,220,000 -29,116,000 -60,737,000 63,706,000 -83,590,000 -67,570,000 -70,119,000 44,038,000 -66,489,000 -91,413,000 -54,758,000 12,735,000 -49,654,000 -17,346,000 -29,510,000 44,133,000 -94,979,000 -65,983,000 -42,182,000 -13,179,000 -73,523,000 -89,366,000 -33,250,000 -14,066,000 -64,377,000 -54,698,000 -23,567,000 -2,638,000 -23,679,000 -22,932,000 -24,625,000 17,604,000 -4,226,000 
      other assets
    		-9,455,000 -12,546,000 13,017,000 -16,542,000 -13,016,000 -3,808,000 1,277,000 2,220,000 4,493,000 -4,564,000 5,924,000 -26,321,000 13,946,000 -25,025,000 8,116,000 -2,510,000 5,670,000 -8,947,000 1,240,000 2,260,000 -221,000 -20,532,000 1,880,000 -4,192,000 -1,985,000 2,225,000 8,491,000 -2,281,000 3,063,000 -7,229,000 -4,949,000 2,866,000 2,245,000 -348,000 2,721,000 -9,179,000 -4,172,000 -3,013,000 2,349,000 -2,094,000 -3,143,000 -3,408,000 -704,000 -1,822,000 -2,115,000 -645,000 -7,776,000 2,601,000 -6,415,000 1,371,000 -3,714,000 -2,364,000 -300,000 -1,366,000 570,000 1,663,000 
      accounts payable
    		23,567,000 30,330,000 -58,129,000 -22,151,000 53,887,000 20,294,000 -46,259,000 -13,719,000 56,230,000 -20,171,000 -67,729,000 -33,058,000 47,997,000 36,882,000 17,194,000 5,401,000 23,694,000 12,547,000 9,088,000 7,493,000 18,832,000 25,230,000 -44,502,000 15,457,000 21,136,000 1,424,000 -16,910,000 6,930,000 22,644,000 -8,914,000 -3,365,000 7,526,000 18,669,000 -8,809,000 -6,967,000 4,510,000 24,075,000 -5,284,000 -10,785,000 5,307,000 21,191,000 -5,886,000 -22,535,000 10,548,000 15,949,000 1,150,000 -15,578,000 23,916,000 4,818,000 9,380,000 -17,658,000 14,041,000 9,163,000 -188,000 -4,586,000 3,212,000 
      customer deposits
    		-6,527,000 9,360,000 -18,016,000 -5,916,000 743,000 7,388,000 -9,547,000 -3,416,000 291,000 4,682,000 -33,250,000 -9,413,000 4,099,000 23,818,000 -7,424,000 5,549,000 12,275,000 24,829,000 6,003,000 17,103,000 4,430,000 10,637,000 -1,788,000 -1,798,000 1,712,000 4,281,000 -8,393,000 -1,062,000 4,186,000 6,790,000 -4,205,000 928,000 2,975,000 4,524,000 -4,283,000 -976,000 3,948,000 3,900,000 -3,759,000 538,000 3,086,000 3,593,000 -2,443,000 -817,000 2,035,000 1,722,000 -3,656,000 -554,000 3,226,000 2,007,000 -737,000 468,000 1,983,000 4,153,000 -1,196,000 1,059,000 
      accrued compensation
    		13,073,000 -48,862,000 13,559,000 21,098,000 14,627,000 -40,047,000 9,831,000 19,678,000 12,104,000 -38,969,000 9,552,000 12,590,000 18,349,000 -31,746,000 11,145,000 8,469,000 15,458,000 -27,340,000 14,410,000 11,709,000 10,253,000 -26,952,000 15,573,000 6,857,000 6,349,000 -24,835,000 13,685,000 5,268,000 6,987,000 -22,454,000 11,679,000 4,074,000 6,744,000 -20,159,000 10,926,000 4,493,000 3,891,000 -14,457,000 6,877,000 6,371,000 2,326,000 -13,713,000 4,429,000 6,744,000 3,043,000 -13,034,000 7,986,000 5,413,000 2,313,000 -5,959,000 4,754,000 3,098,000 69,000 -1,500,000 580,000 -2,273,000 
      other liabilities
    		7,259,000 32,667,000 9,920,000 8,899,000 -28,306,000 32,561,000 5,023,000 -5,088,000 -46,375,000 11,206,000 12,916,000 11,532,000 -15,163,000 25,057,000 33,910,000 1,552,000 -12,754,000 4,974,000 11,332,000 -15,170,000 28,496,000 -4,193,000 -396,000 2,474,000 3,999,000 -17,082,000 19,715,000 -5,639,000 7,269,000 -11,942,000 10,984,000 -1,841,000 2,318,000 -5,077,000 12,234,000 10,026,000 7,213,000 761,000 -4,663,000 10,398,000 -1,907,000 845,000 1,131,000 8,082,000 -2,644,000 1,049,000 2,135,000 6,782,000 -891,000 3,949,000 -7,001,000 11,343,000 -4,782,000 4,742,000 -8,376,000 3,394,000 
      net cash from operating activities
    		37,755,000 64,887,000 104,395,000 -67,942,000 27,511,000 115,772,000 54,901,000 79,541,000 166,190,000 251,499,000 198,220,000 -92,689,000 9,214,000 69,326,000 17,518,000 -208,142,000 98,633,000 75,168,000 -28,892,000 114,400,000 107,053,000 -24,227,000 64,654,000 -9,640,000 33,250,000 -22,633,000 71,303,000 -54,194,000 11,489,000 -31,190,000 13,495,000 -26,705,000 -16,045,000 -23,275,000 7,677,000 -13,952,000 39,416,000 1,056,000 13,037,000 -48,986,000 -16,934,000 -29,276,000 -25,964,000 -40,042,000 -64,566,000 -2,103,000 -33,538,000 -15,258,000 -33,736,000 8,558,000 -30,674,000 7,208,000 -15,854,000 -7,675,000 -9,395,000 2,627,000 
      capex
    		-2,609,000 -1,339,000 -2,067,000 -580,000 -5,494,000 -276,000 -1,156,000 -2,491,000 -43,000 -2,079,000 -5,455,000 -1,185,000 -1,488,000 -1,205,000 -22,742,000 -1,523,000 -878,000 -158,000 -3,212,000 -6,489,000 -1,525,000 -451,000 -1,900,000 -1,027,000 -1,139,000 -460,000 -2,275,000 -1,251,000 -4,485,000 -130,000 -2,782,000 -4,145,000 -879,000 -993,000 -1,487,000 -590,000 -323,000 -10,706,000 -1,656,000 -602,000 -1,290,000 -111,000 -599,000 -670,000 -1,277,000 -400,000 -728,000 -604,000 -821,000 -229,000 -75,000 -606,000 -205,000 -47,000 -463,000 -332,000 
      free cash flows
    		35,146,000 63,548,000 102,328,000 -68,522,000 22,017,000 115,496,000 53,745,000 77,050,000 166,147,000 249,420,000 192,765,000 -93,874,000 7,726,000 68,121,000 -5,224,000 -209,665,000 97,755,000 75,010,000 -32,104,000 107,911,000 105,528,000 -24,678,000 62,754,000 -10,667,000 32,111,000 -23,093,000 69,028,000 -55,445,000 7,004,000 -31,320,000 10,713,000 -30,850,000 -16,924,000 -24,268,000 6,190,000 -14,542,000 39,093,000 -9,650,000 11,381,000 -49,588,000 -18,224,000 -29,387,000 -26,563,000 -40,712,000 -65,843,000 -2,503,000 -34,266,000 -15,862,000 -34,557,000 8,329,000 -30,749,000 6,602,000 -16,059,000 -7,722,000 -9,858,000 2,295,000 
      investing activities:
    		                                                        
      purchase of property and equipment
    		-2,609,000 -1,339,000 -2,067,000 -580,000 -5,494,000 -276,000 -1,156,000 -2,491,000 -43,000 -2,079,000 -5,455,000 -1,185,000 -1,488,000 -1,205,000 -22,742,000 -1,523,000 -878,000 -158,000 -3,212,000 -6,489,000 -1,525,000 -451,000 -1,900,000 -1,027,000 -1,139,000 -460,000 -2,275,000 -1,251,000 -4,485,000 -130,000 -2,782,000 -4,145,000 -879,000 -993,000 -1,487,000 -590,000 -323,000 -10,706,000 -1,656,000 -602,000 -1,290,000 -111,000 -599,000 -670,000 -1,277,000 -400,000 -728,000 -604,000 -821,000 -229,000 -75,000 -606,000 -205,000 -47,000 -463,000 -332,000 
      investment in joint venture arrangements
    		-10,081,000 -8,279,000  -16,916,000 -5,319,000 -23,685,000  -9,254,000 -7,758,000 -2,714,000  -6,450,000 -5,487,000 -5,429,000  -17,637,000 -12,437,000 -4,664,000  -4,986,000 -12,631,000 -6,458,000  -8,241,000 -9,240,000 -6,041,000 -11,380,000 -16,166,000                             
      proceeds from sale of mortgage servicing rights
    		372,000 6,690,000 382,000 0 380,000 6,853,000 490,000 415,000   100,000 0   11,093,000 0 -71,000 4,395,000                                       
      net cash from investing activities
    		-12,318,000 -2,928,000 -9,859,000 -17,496,000 -10,433,000 -17,108,000 -4,500,000 -11,330,000 1,991,000 -4,793,000 -8,282,000 -7,635,000 -4,829,000 -6,634,000 -19,799,000 -19,160,000 -13,386,000 623,000 -2,543,000 -10,625,000 -14,156,000 -6,546,000 -1,884,000 -8,980,000 -10,229,000 -6,501,000 -12,431,000 -17,417,000 -6,437,000 -97,672,000 -4,746,000 -6,022,000 -2,249,000 3,206,000 -11,846,000 -4,023,000 -2,913,000 -12,863,000 -31,583,000 -2,020,000 -3,183,000 -845,000 -1,082,000 -2,292,000 -328,000 -8,879,000 -2,652,000 -9,695,000 -10,505,000 -12,702,000 -555,000 2,643,000 -4,098,000 27,332,000 1,399,000 994,000 
      financing activities:
    		                                                        
      net proceeds from (repayments of) bank borrowings - financial services operations
    		47,969,000 -58,202,000  12,649,000 -1,529,000 58,477,000                                                   
      repurchase of common shares
    		-50,144,000 -50,055,000 -51,134,000 -50,234,000 -50,307,000 -25,278,000 -25,085,000 -25,052,000   0 -15,099,000 -24,842,000 -15,393,000 -36,026,000    0 0 0 -1,912,000 0 0 0 -5,150,000                               
      proceeds from exercise of stock options
    		758,000 1,106,000 8,253,000 5,485,000 2,054,000 5,495,000 6,643,000 10,583,000 10,130,000 6,439,000 364,000 232,000 564,000 206,000 0 611,000 3,373,000 7,257,000 1,652,000 4,609,000 463,000 3,182,000 5,296,000 11,071,000 849,000 2,428,000 112,000 0 0 426,000 6,434,000 -1,000 4,296,000 496,000 109,000 0 0 73,000 0 695,000 279,000 61,000 484,000 0 94,000 1,366,000 0 1,000   3,547,000 475,000 373,000 367,000 0 1,416,000 
      net cash from financing activities
    		-1,417,000 -107,151,000 7,114,000 -32,100,000 -49,782,000 38,694,000 -53,849,000 -246,000 -42,458,000 -15,684,000 53,843,000 -20,670,000 -34,236,000 -80,454,000 17,492,000 76,653,000 -6,341,000 -43,701,000 89,733,000 4,714,000 -20,058,000 45,874,000 -90,138,000 31,678,000 -44,559,000 49,536,000 -73,703,000 40,154,000 9,188,000 30,736,000 39,318,000 106,423,000 9,336,000 24,526,000 13,404,000 12,613,000 -40,586,000 33,357,000 3,696,000 54,288,000 11,932,000 44,544,000 25,413,000 25,859,000 9,177,000 -28,383,000 22,440,000 1,176,000 -52,564,000 121,703,000 16,962,000 105,617,000 -2,729,000 -12,472,000 20,960,000 -4,468,000 
      net increase in cash, cash equivalents and restricted cash
    		24,020,000 -45,192,000 101,650,000 -117,538,000 -32,704,000 137,358,000 -3,448,000 67,965,000 125,723,000 231,022,000   -29,851,000 -17,762,000 15,211,000 -150,649,000 78,906,000 32,090,000 58,298,000 108,489,000 72,839,000 15,101,000 -27,368,000   20,402,000 -14,831,000   -98,126,000 48,067,000 73,696,000 -8,958,000 4,457,000                       
      cash, cash equivalents and restricted cash balance at beginning of period
    		0 821,570,000 0 0 0 732,804,000 0 0 0 311,542,000 0 0 0 236,368,000 0 0 0 260,810,000 0 0 0 6,083,000 0 0 0 21,529,000 0 0 0 151,703,000 0 0 0 34,441,000                       
      cash, cash equivalents and restricted cash balance at end of period
    		24,020,000 776,378,000 101,650,000 -117,538,000 -32,704,000 870,162,000 -3,448,000 67,965,000 125,723,000 542,564,000 243,781,000 -120,994,000 -29,851,000 218,606,000 15,211,000 -150,649,000 78,906,000 292,900,000 58,298,000 108,489,000 72,839,000 21,184,000 -27,368,000 13,058,000 -21,538,000 41,931,000 -14,831,000 -31,457,000 14,240,000 53,577,000 48,067,000 73,696,000 -8,958,000 38,898,000                       
      supplemental disclosure of cash flow information:
    		                                                        
      cash paid during the year for:
    		                                                        
      interest — net of amount capitalized
    		-8,784,000 7,962,000 -8,064,000 7,746,000 -8,108,000 7,788,000 -7,895,000 16,043,000 -12,843,000 6,176,000 -8,332,000 7,699,000 -7,911,000 7,895,000 -8,111,000 8,747,000 -8,690,000 9,110,000 -7,833,000 9,530,000 -6,387,000 12,501,000 -4,072,000 12,449,000 -3,875,000 14,460,000 -4,040,000 12,190,000 -4,262,000 13,905,000 -5,218,000 8,005,000 -3,122,000 10,503,000 -2,322,000 11,071,000 -2,405,000 253,000 9,468,000 -991,000 6,836,000 -140,000 6,656,000 -2,164,000 5,447,000 -209,000 6,857,000 -1,258,000 7,347,000 -1,112,000 7,641,000 -1,792,000 8,215,000 -981,000 8,548,000 -1,573,000 
      income taxes
    		63,500,000 1,191,000 27,663,000 49,173,000 82,103,000 683,000 38,293,000 35,703,000 75,834,000 838,000 31,934,000 51,416,000 70,709,000 993,000 18,335,000 31,023,000 59,554,000 969,000 24,156,000 37,648,000 1,454,000 408,000 10,415,000 13,021,000 13,195,000 362,000 7,495,000 7,608,000 10,054,000 122,000 9,100,000 9,932,000 17,698,000 72,000 198,000 272,000 1,350,000 451,000 614,000 416,000 1,181,000 97,000 1,835,000 1,000 -215,000 765,000 86,000 232,000 374,000 73,000 1,000 68,000 132,000 80,000 -654,000 102,000 
      non-cash transactions during the period:
    		                                                        
      community development district infrastructure
    		-1,869,000 -1,103,000 -2,334,000 -2,344,000 393,000 -2,215,000 -1,811,000 -2,582,000 -3,328,000 -2,641,000 -2,290,000 -1,226,000 16,451,000 -3,323,000 4,114,000 -832,000 4,485,000 4,126,000 -1,696,000 -1,668,000 -1,354,000 -617,000 -797,000 3,462,000 -862,000 -664,000 -3,709,000 4,312,000 -710,000 -550,000 7,751,000 -577,000 -402,000 5,801,000 -75,000 -171,000 -110,000 -186,000 -141,000 -337,000 -818,000 -257,000 -485,000 1,172,000 -176,000 -1,070,000 -289,000 -451,000   -354,000 -338,000 -284,000 -373,000 -365,000 -252,000 
      consolidated inventory not owned
    		-4,424,000 5,201,000 294,000 9,981,000 -13,074,000 -12,291,000 3,704,000 2,541,000 1,006,000 2,600,000 12,270,000 -4,176,000 6,126,000 60,000 -1,635,000 -8,078,000 338,000 2,229,000 9,550,000 -10,671,000 -3,249,000 6,350,000 1,247,000 -6,422,000 -2,811,000 -3,388,000 -2,589,000 7,103,000 -3,405,000 -3,346,000 -658,000 9,940,000 295,000 4,440,000 1,666,000 693,000 248,000 -1,086,000 -5,411,000 -2,697,000 13,816,000 -309,000 -1,092,000 432,000 -359,000 -148,000 199,000 -305,000 -15,113,000 -2,111,000 12,553,000 512,000 3,453,000 -357,000 -1,656,000  
      distribution of single-family lots from joint venture arrangements
    		13,337,000 2,886,000 5,935,000 0 18,684,000 8,550,000 4,688,000 6,375,000 14,829,000 5,244,000 3,062,000 10,375,000 5,126,000 5,257,000 2,024,000 7,954,000 13,461,000 4,625,000 2,724,000 15,494,000 7,796,000 3,726,000 16,157,000 1,792,000 8,669,000 1,054,000 122,000 5,395,000 9,982,000 659,000 4,761,000 1,844,000 2,983,000 7,012,000                       
      impairment of inventory and investment in joint venture arrangements
    		                                                        
      equity in income from joint venture arrangements
    		      1,000 1,000 -28,000 -7,000 11,000 0 -1,000 -16,000 42,000 50,000 -35,000 -160,000 -159,000 -252,000   -193,000 -52,000   -44,000 -44,000                             
      (gain) loss on sale of mortgage servicing rights
    		      54,000 129,000                                                 
      deferred income tax expense
    		                  3,022,000 173,000 162,000 91,000 2,357,000 606,000 553,000 335,000 3,444,000 603,000 575,000 335,000 11,131,000 509,000 371,000 426,000 10,400,000 7,079,000 8,837,000 4,995,000 9,057,000 10,111,000 7,694,000 5,664,000 8,470,000 6,676,000 5,620,000 5,024,000  4,728,000 2,674,000 1,788,000       
      return of capital from joint venture arrangements
    		          -154,000 0   163,000 0 0 1,050,000 1,264,000 850,000 0 363,000 374,000 288,000   0 0                             
      investment in and advances to joint venture arrangements
    		                                                        
      proceeds from bank borrowings - homebuilding operations
    		          123,100,000 191,800,000       0 0 112,500,000 194,300,000 127,600,000 194,400,000 156,400,000 218,100,000 146,700,000 166,000,000 120,400,000 233,500,000 31,800,000 77,100,000 127,400,000 162,000,000 74,700,000 84,600,000 38,100,000 154,100,000 87,900,000 108,700,000 90,300,000 130,400,000               
      repayments of bank borrowings - homebuilding operations
    		                                                        
      net proceeds from (net repayments of) bank borrowings - financial services operations
    		                                                        
      (principal repayments of) proceeds from notes payable-other and community development district bond obligations
    		                                                        
      debt issue costs
    		      -632,000 0   -2,461,000 0 -40,000 -80,000 -373,000 -4,038,000   -181,000 -114,000 -2,245,000 -6,165,000 -163,000 0   -133,000 0   -135,000 -6,509,000   -47,000 0 -94,000 -99,000 -5,398,000 -380,000   -2,041,000 0   -38,000 -1,858,000 -61,000 -3,544,000 -38,000 -2,943,000 -1,007,000 -1,893,000 0  
      inventory valuation adjustments and abandoned land transaction write-offs
    		                                          984,000 622,000   1,568,000 2,136,000 1,201,000 900,000 1,236,000 1,309,000 697,000 126,000 4,514,000 11,129,000 
      net gain from property disposals
    		                                                        
      loss on early extinguishment of debt
    		                   0 0 950,000                                   
      proceeds from sale of property
    		                                                        
      repayment of senior notes
    		              0                                          
      proceeds from issuance of senior notes
    		              0                                          
      (net repayments of) net proceeds from bank borrowings - financial services operations
    		                                                        
      repayment of bank borrowings - homebuilding operations
    		           -191,800,000        0 -119,400,000 -253,400,000 -251,500,000 -178,800,000 -200,900,000 -116,700,000 -252,000,000 -125,100,000 -100,900,000 -71,200,000 -31,800,000 -215,100,000 -100,300,000 -91,400,000 -119,400,000 -69,600,000 -82,600,000 -83,400,000 -200,200,000 -58,200,000 -74,700,000 -70,400,000               
      net repayments of bank borrowings - financial services operations
    		       14,223,000 -37,222,000 -22,123,000  -5,231,000 -9,048,000 -62,510,000  44,162,000    1,935,000                                     
      principal repayments of notes payable - other and community development district bond obligations
    		             -2,677,000                                           
      loss on sale of mortgage servicing rights
    		           0    0                                         
      deferred income tax (benefit) expense
    		                                                        
      fair value adjustment of mortgage servicing rights
    		               0 0 -162,000  85,000 -578,000 1,000,000                                   
      (principal repayments of) proceeds from notes payable - other and community development district bond obligations
    		           -572,000                                             
      net decrease in cash, cash equivalents and restricted cash
    		                                                        
      loss (gain ) on sale of mortgage servicing rights
    		             176,000                                           
      amortization of debt discount and debt issue costs
    		                     625,000 683,000 677,000 676,000 676,000 681,000 667,000 661,000 782,000 843,000 920,000 858,000 854,000 850,000 851,000 850,000 851,000 916,000 796,000 797,000 797,000 792,000 772,000 771,000 786,000           
      loss on early extinguishment of debt, including transaction costs
    		                                                        
      proceeds from (principal repayments of) notes payable-other and community development district bond obligations
    		                                                        
      proceeds from (principal repayments of) notes payable - other and community development district bond obligations
    		                                                        
      repayment of senior notes due 2021
    		                  0 0 0 -300,000,000                                   
      net proceeds from issuance of senior notes due 2028
    		                  0 0 0 400,000,000                                   
      net repayments of (net proceeds from) bank borrowings - financial services operations
    		                 -49,430,000                                       
      principal repayments of (proceeds from) notes payable - other and community development district bond obligations
    		                 -1,528,000                                       
      acquisition
    		                          0 0 -197,000 -100,763,000                           
      repayment of convertible senior subordinated notes
    		                                                        
      principal repayments of notes payable-other and community development district bond obligations
    		                                                        
      common stock issued for conversion of convertible notes
    		                          0 0 0 20,309,000 0                          
      equity in (income) income from joint venture arrangements
    		                     -52,000                                   
      net proceeds from bank borrowings - financial services operations
    		                     8,151,000                                   
      proceeds from notes payable - other and community development district bond obligations
    		                     1,718,000                                   
      net proceeds from issuance of senior notes
    		                                                  0 0     
      (net repayment of) net proceeds from bank borrowings - financial services operations
    		                                                        
      redemption of preferred shares
    		                                              0 0         
      dividends paid on preferred shares
    		                              0 -1,218,000 -1,219,000 -1,219,000 -1,219,000 -1,218,000 -1,219,000 -1,219,000 -1,219,000 -1,218,000 -1,219,000 -1,219,000 -1,219,000 -1,218,000 -1,219,000 -1,219,000 -1,218,000 -1,219,000         
      repayment of convertible senior subordinated notes due 2018
    		                           0 0 -65,941,000                           
      net repayment of bank borrowings - financial services operations
    		                       4,591,000 -23,000 -49,142,000  10,863,000 -9,548,000 -65,484,000  1,757,000 -17,419,000 -45,958,000  -1,183,000                     
      principal repayment of notes payable - other and community development district bond obligations
    		                       416,000    -524,000                             
      equity in loss (income) from joint venture arrangements
    		                         121,000                               
      (principal repayment of) proceeds from notes payable-other and community development district bond obligations
    		                                                        
      net proceeds from sale of mortgage servicing rights
    		                           0 0 5,111,000 0 0 162,000 7,396,000     0    0 0             
      repurchases of common shares
    		                                                        
      reclassification of preferred shares subject to redemption
    		                                                 50,352,000       
      equity in income of joint venture arrangements
    		                             -310,000 -341,000 -71,000 -110,000 -17,000                       
      investment in unconsolidated joint ventures
    		                             -1,890,000  -2,632,000 -2,610,000 -3,197,000  -4,278,000 -2,936,000 -2,846,000 -7,437,000 -6,515,000 -2,873,000 -1,337,000 -3,597,000 -3,334,000 -2,610,000 -10,874,000 -4,013,000          
      (principal repayment of) proceeds from notes payable - other and community development district bond obligations
    		                             -565,000                           
      payment of original issue discount on redemption of senior notes
    		                                                        
      acquisition, net of cash acquired
    		                                                  0 0   0  
      repayment of senior notes, net of original issue discount
    		                                                        
      proceeds from (principal repayment of) notes payable-other and community development district bond obligations
    		                                                        
      return of capital from unconsolidated joint ventures
    		                               755,000           904,000    0          
      proceeds from notes payable-other and community development district bond obligations
    		                                -3,359,000 607,000                       
      impairment of investment in joint venture arrangements
    		                                                        
      deferred tax asset valuation allowances
    		                                          0 0 -3,964,000 -5,327,000 -5,622,000 -116,374,000 -2,674,000 -1,788,000       
      (principal repayment of) proceeds from notes payable-other and cdd bond obligations
    		                                                        
      equity in income of unconsolidated joint ventures
    		                                   -24,000 -82,000 -307,000 -250,000 -36,000 -14,000 -198,000 -285,000 -22,000 22,000 -62,000 -28,000          
      cash held in escrow
    		                                   485,000 -108,000 -359,000 -59,000 71,000 -14,000 208,000 -263,000 85,000 51,000 -44,000 -185,000 77,000 264,000 -193,000 -88,000 -22,000 124,000 -139,000 2,918,000 -6,314,000 
      change in restricted cash
    		                                   845,000 346,000 689,000 234,000 2,032,000 980,000 603,000 2,210,000 1,093,000 1,424,000 2,395,000 2,089,000 -3,405,000 -3,248,000 -621,000 388,000 3,635,000 1,016,000 27,740,000   
      proceeds from (principal repayment of) notes payable-other and cdd bond obligations
    		                                   14,000 -253,000 364,000                   
      net increase in cash and cash equivalents
    		                                   -5,362,000 -4,083,000 21,550,000  3,282,000 -8,185,000 14,423,000   -55,717,000 -39,365,000 -13,750,000 -23,777,000 -96,805,000 117,559,000 -14,267,000   7,185,000   
      cash and cash equivalents balance at beginning of period
    		                                   0 0 10,205,000 0 0 0 15,535,000 0 0 0 128,725,000 0 0 0 145,498,000 0 0 0 59,793,000   
      cash and cash equivalents balance at end of period
    		                                   -5,362,000 -4,083,000 31,755,000 -14,850,000 3,282,000 -8,185,000 29,958,000 -1,633,000 -16,475,000 -55,717,000 89,360,000 -13,750,000 -23,777,000 -96,805,000 263,057,000 -14,267,000 115,468,000 -22,681,000 66,978,000   
      distribution of single-family lots from unconsolidated joint ventures
    		                                   5,934,000 551,000 14,427,000 2,776,000 1,626,000 3,979,000 -145,000 14,931,000 4,150,000 5,253,000 1,355,000 2,888,000          
      (repayment of) net proceeds from bank borrowings - financial services operations
    		                                     -36,462,000  3,558,000 -2,042,000 -13,656,000               
      impairment of investment in unconsolidated joint ventures
    		                                                        
      proceeds from issuance of convertible senior subordinated notes due 2018
    		                                              0 0         
      net proceeds from issuance of common shares
    		                                              0 0 0 54,617,000 0      
      net decrease in cash and cash equivalents
    		                                                        
      (principal repayments of) proceeds from notes payable-other and cdd bond obligations
    		                                       1,133,000 -646,000 -642,000     -336,000 -1,303,000 -887,000 -789,000       
      bargain purchase gain
    		                                                  0 0     
      amoritzation of mortgage servicing rights
    		                                          227,000 186,000             
      repayment of senior notes, including transaction costs
    		                                                  0 0     
      proceeds from issuance of convertible senior subordinated notes due 2017
    		                                                        
      net proceeds from (repayment of) bank borrowings - financial services operations
    		                                                        
      proceeds from (repayments of) bank borrowings - net
    		                                                        
      principal proceeds from (repayments of) notes payable-other and cdd bond obligations
    		                                                        
      excess tax deficiency from stock-based payment arrangements
    		                                                        
      repayments of bank borrowings - net
    		                                            10,382,000 -28,497,000  5,172,000 -2,684,000 -14,831,000   4,763,000 -11,026,000  -6,173,000 
      principal repayments of notes payable-other and cdd bond obligations
    		                                            -40,000 -33,000           
      amortization of intangibles, debt discount and debt issue costs
    		                                              783,000 802,000 932,000 821,000 762,000 644,000 591,000 587,000 594,000 649,000 
      deferred income tax benefit
    		                                                  1,355,000 3,578,000 1,283,000 -1,140,000 -1,293,000 -6,558,000 
      proceeds from bank borrowings - net
    		                                                        
      contingent consideration related to acquisition
    		                                                      -183,000  
      other
    		                                                  29,000 49,000     
      net income from property disposals
    		                                                 26,000    2,000  35,000 
      investment in unconsolidated llcs
    		                                                -6,436,000 -11,852,000 -868,000 -386,000 -202,000 -361,000 -104,000  
      distribution of single-family lots from unconsolidated llc's
    		                                                63,000 1,303,000       
      proceeds from issuance of convertible senior subordinated notes
    		                                                 86,250,000 0      
      impairment of investment in unconsolidated llcs
    		                                                      0  
      deferred tax asset valuation (benefit) expense
    		                                                  -1,355,000 -3,578,000     
      return of investment from unconsolidated llcs
    		                                                        
      proceeds (repayments) from bank borrowings - net
    		                                                  13,117,000      
      proceeds from note payable-other and cdd bond obligations
    		                                                  336,000      
      proceeds from (repayments of) note payable-other and cdd bond obligations
    		                                                        
      deferred tax asset valuation allowance
    		                                                     1,140,000 1,293,000 6,558,000 
      excess tax benefit from stock-based payment arrangements
    		                                                       369,000 
      equity in undistributed loss of unconsolidated llcs
    		                                                       10,000 
      proceeds from (principal repayments of) note payable-other and community development district bond obligations
    		                                                     80,000   
      bad debt expense
    		                                                        
      share-based compensation expense
    		                                                      341,000  
      excess tax (benefit) deficiency from stock-based payment arrangements
    		                                                        
      equity in undistributed (income) loss of unconsolidated llcs
    		                                                        
      write-off of unamortized debt discount and financing costs
    		                                                        
      proceeds from the sale of property
    		                                                        
      principal repayments of note payable-other and community development district bond obligations
    		                                                       -80,000 
      net proceeds from issuance of common stock
    		                                                        
      payments on capital lease obligations
    		                                                        
      excess tax deficiency (benefit) from stock-based payment arrangements
    		                                                        
      excess tax (benefit) expense from stock-based payment arrangements
    		                                                        
      equity in undistributed income of unconsolidated llcs
    		                                                        
      restricted cash
    		                                                       1,569,000 
      net decrease in cash
    		                                                       -847,000 
      cash balance at beginning of period
    		                                                       81,208,000 
      cash balance at end of period
    		                                                       80,361,000 
      homebuilding
    		                                                       63,385,000 
      financial services
    		                                                        
      unrestricted cash
    		                                                       80,361,000 
      total cash
    		                                                       127,029,000 
      income tax receivable
    		                                                       -168,000 
      excess tax expense from stock-based payment arrangements
    		                                                       -369,000 
      investment in unconsolidated limited liability companies
    		                                                       -243,000 
      non-cash transactions during the year:
    		                                                        
      deferral of executive and director compensation
    		                                                       62,000 
      executive and director deferred compensation distributions
    		                                                       126,000 
    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.