7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 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 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-12-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-09-30 2007-06-30 2007-03-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 2005-09-30 2005-06-30 2005-03-31 2004-12-31 2004-09-30 2004-06-30 2004-03-31 2003-12-31 2003-09-30 
      
    		                                                                                       
      cash flows from operating activities:
    		                                                                                       
      net earnings
    		99,297,000 146,879,000 122,806,000 172,649,000 195,966,000 231,555,000 186,016,000 198,851,000 221,760,000 186,836,000 131,301,000 262,365,000 262,489,000 250,084,000 217,254,000 237,460,000 200,752,000 167,389,000 131,843,000 152,527,000 109,118,000 90,678,000 71,152,000 103,614,000 69,809,000 50,828,000 25,412,000 75,485,000 54,135,000 53,838,000 43,874,000 35,553,000 42,550,000 41,580,000 23,572,000 51,807,000 36,887,000 39,878,000 20,969,000 52,897,000 30,308,000 29,133,000 16,400,000 49,208,000 32,577,000 35,079,000 25,377,000  38,191,000                        -56,576,000 15,116,000 59,539,000 77,055,000 79,736,000 101,977,000 70,253,000 59,239,000 24,196,000 51,812,000 35,600,000 24,637,000 26,919,000 31,566,000 25,755,000 
      adjustments to reconcile net earnings to net cash from operating activities:
    		                                                                                       
      depreciation and amortization
    		5,991,000 6,663,000 5,949,000 6,601,000 6,546,000 6,774,000 6,038,000 7,758,000 6,380,000 5,988,000 5,208,000 7,203,000 5,822,000 5,964,000 5,759,000 6,353,000 6,478,000 6,879,000 6,535,000 8,556,000 7,945,000 7,540,000 7,011,000 8,370,000 7,172,000 6,549,000 5,832,000 7,508,000 6,850,000 6,742,000 5,866,000 4,633,000 4,199,000 4,202,000 3,670,000 4,508,000 3,870,000 4,198,000 3,402,000 3,947,000 3,565,000 3,518,000 3,211,000 3,460,000 2,972,000 2,669,000 2,513,000 2,765,000 2,511,000 2,500,000 2,158,000 2,283,000 2,299,000 1,921,000 1,693,000 1,694,000 1,817,000 1,756,000 1,835,000 2,111,000 2,081,000 1,947,000 2,296,000 2,003,000 2,119,000 2,425,000 5,884,000 3,221,000 3,216,000 3,348,000 4,361,000 4,413,000 4,775,000 4,269,000 5,095,000 5,304,000 4,873,000 4,455,000 4,728,000 4,270,000 3,754,000 4,264,000 3,205,000 3,017,000 2,747,000 2,805,000  
      real estate and land impairments
    		                                                                                       
      stock-based compensation
    		4,858,000 3,597,000 6,325,000 6,504,000 8,473,000 4,718,000 6,114,000 5,954,000 6,156,000 4,176,000 6,225,000 5,436,000 6,852,000 4,070,000 5,975,000 5,634,000 5,845,000 3,223,000 5,367,000 4,271,000 6,130,000 3,157,000 6,437,000 3,888,000 5,657,000 4,201,000 5,861,000 3,433,000 4,761,000 3,767,000 5,209,000 2,158,000 4,113,000 2,490,000 3,295,000 2,699,000 3,729,000 2,555,000 4,758,000 3,363,000 3,953,000 3,835,000 4,630,000 3,176,000 3,771,000 2,853,000 2,411,000 2,443,000 3,099,000 2,097,000 1,844,000 2,224,000 2,822,000 1,620,000 1,653,000 2,114,000 1,388,000 1,713,000 1,296,000 1,566,000 1,239,000 1,257,000 1,692,000 2,219,000 1,229,000 1,064,000 1,461,000 1,988,000 638,000 1,419,000 2,231,000 2,513,000 1,958,000 2,264,000 2,068,000 4,650,000 2,679,000           
      loss on early extinguishment of debt
    		   0    0        0 0                               0 0 3,096,000 700,000  0                                   
      equity in earnings from unconsolidated entities
    		-969,000 -1,538,000 -626,000 -5,300,000 -1,298,000 -1,655,000 -972,000 -1,720,000 -1,769,000 -1,536,000 -1,346,000 -2,390,000 -1,558,000 -1,209,000 -936,000 -1,779,000 -1,071,000 -1,057,000 -750,000 -1,675,000 -1,130,000 -1,007,000 -684,000 -3,011,000 -3,106,000 -3,654,000 -2,174,000 -5,173,000 -5,182,000 -3,368,000 -2,610,000 -5,434,000 -3,398,000 -4,029,000 -3,098,000 -7,384,000 -4,655,000 -4,368,000 -2,635,000 -4,019,000 -3,731,000 -2,588,000 -2,421,000 -3,505,000 -2,649,000 -2,236,000 -2,032,000  -3,557,000 -3,366,000 -2,632,000  -2,975,000 -2,228,000 -1,423,000 -1,797,000 -1,226,000 -908,000  -1,243,000                            
      distributions of earnings from unconsolidated entities
    		1,616,000 1,528,000 588,000 3,456,000 1,227,000 1,793,000 985,000 1,634,000 1,740,000 1,642,000 1,776,000 2,115,000 1,446,000 1,270,000 1,069,000 1,627,000 1,109,000 1,115,000 1,100,000 1,145,000 958,000 642,000 849,000 2,177,000 2,753,000 4,512,000 3,996,000 4,244,000 5,064,000 3,590,000 3,244,000 4,927,000 3,698,000 3,432,000 3,280,000 5,520,000 4,096,000 3,866,000 3,477,000 3,204,000 3,677,000 2,734,000 3,035,000 2,829,000 2,665,000 2,164,000 3,955,000 2,217,000 3,560,000 3,514,000 3,722,000 3,530,000 3,123,000 1,743,000 1,252,000 1,955,000 1,466,000 1,188,000 2,027,000 1,880,000 2,016,000 1,340,000 2,945,000 1,436,000 1,550,000 2,355,000 2,325,000 2,363,000 2,094,000 3,267,000 3,700,000 3,461,000 3,815,000 4,953,000 6,122,000 4,570,000 3,266,000 6,132,000          
      other
    		11,025,000 5,905,000 1,922,000 -633,000 10,396,000 3,696,000 1,001,000 2,707,000 -740,000 1,220,000 928,000 -291,000 11,755,000 -809,000 208,000 174,000 -5,351,000 -385,000 2,651,000 12,525,000 -667,000 2,384,000 164,000 5,371,000 -403,000 2,478,000 1,827,000 13,650,000 -210,000 106,000 2,301,000 4,584,000 1,255,000 28,000 -18,000 4,597,000 1,680,000 2,214,000 1,048,000 10,284,000 822,000 914,000 -490,000 1,788,000 4,406,000 2,112,000 1,843,000 13,526,000 -2,684,000 390,000 3,632,000                                     
      changes in assets and liabilities:
    		                                                                                       
      increase in real estate
    		-188,607,000 -163,796,000 -60,821,000 -255,419,000    -219,865,000    365,584,000 -260,656,000 -445,565,000 -283,885,000    -193,395,000    -45,207,000    -1,753,000 142,390,000 -6,007,000 -68,077,000 -87,732,000 34,592,000 -124,685,000 -122,162,000 -89,222,000 7,064,000 -124,509,000 -77,946,000 -116,035,000 -10,887,000 -54,070,000 -85,544,000 -58,906,000 12,274,000 -115,984,000 -100,077,000 -134,807,000 -60,276,000 -107,676,000 -75,116,000 -38,876,000 -108,676,000 -49,847,000 -87,940,000 -52,722,000 -22,645,000 -18,908,000 -19,232,000                              
      increase in deposits on real estate under option or contract
    		21,405,000 31,764,000 -62,179,000           -4,535,000 -2,753,000    -4,821,000                          -19,566,000           -1,508,000 -1,524,000 -29,000                              
      (increase)/decrease in other receivables, prepaids and other assets
    		-34,576,000 -5,628,000 -37,636,000              -15,221,000 -29,272,000 -7,118,000      -3,080,000 1,626,000 -1,654,000                                                             
      (decrease)/increase in accounts payable and accrued liabilities
    		  -16,041,000       3,933,000 -31,687,000                       10,567,000 -16,064,000            -15,697,000                                         
      decrease in home sale deposits
    		                                                                                       
      net cash from operating activities
    		-96,510,000      81,930,000    124,472,000  37,018,000       157,278,000 135,637,000 193,532,000 43,913,000       6,874,000 -17,329,000 87,294,000 -43,678,000 -45,982,000 -84,766,000 44,943,000 -37,726,000 -28,802,000 -81,817,000 49,911,000 23,702,000 -38,757,000 -38,191,000 24,905,000 -61,503,000 -42,983,000 -131,667,000 -46,750,000 -20,005,000 -19,402,000 -119,000  -27,345,000 -49,545,000 -55,362,000    -5,612,000 -20,682,000 14,908,000 43,937,000  -20,820,000 39,635,000 138,619,000                   8,662,000   
      capex
    		-7,786,000      -6,258,000    -8,899,000  -6,685,000       -5,161,000 -4,428,000 -5,012,000 -5,331,000       -9,343,000 -6,383,000 -6,058,000 -3,716,000 -5,084,000 -3,238,000 -4,406,000 -4,686,000 -3,630,000 -3,940,000 -3,758,000 -4,505,000 -3,240,000 -4,589,000 -4,421,000 -4,503,000 -4,869,000 -6,995,000 -6,066,000 -3,930,000 -3,083,000 -2,704,000  -2,756,000 -2,047,000 -2,336,000    -1,350,000 -1,153,000 -1,931,000 -1,955,000  0 0 0                   0   
      free cash flows
    		-104,296,000      75,672,000    115,573,000  30,333,000       152,117,000 131,209,000 188,520,000 38,582,000       -2,469,000 -23,712,000 81,236,000 -47,394,000 -51,066,000 -88,004,000 40,537,000 -42,412,000 -32,432,000 -85,757,000 46,153,000 19,197,000 -41,997,000 -42,780,000 20,484,000 -66,006,000 -47,852,000 -138,662,000 -52,816,000 -23,935,000 -22,485,000 -2,823,000  -30,101,000 -51,592,000 -57,698,000    -6,962,000 -21,835,000 12,977,000 41,982,000  -20,820,000 39,635,000 138,619,000                   8,662,000   
      cash flows from investing activities:
    		                                                                                       
      investments in unconsolidated entities
    		-11,703,000 -3,527,000 -5,850,000 -8,103,000 -3,831,000 -5,025,000 -1,586,000 -2,132,000 -2,582,000   -122,000 -21,000   -1,707,000 0 0 -1,000 -1,000 -1,000 -2,000 -1,000 -1,000 0 -2,000 -1,110,000 -257,000 -134,000   -266,000 4,000 -398,000 -10,000 -7,002,000 -83,000 -96,000 -63,000 -181,000 -18,000 -178,000 -104,000 -270,000 -12,000     -88,000 -28,000 -1,000 -1,000 -275,000 -130,000 -1,000 -288,000 -138,000 -488,000 -113,000 -338,000 -95,000                          
      purchases of property and equipment
    		-7,786,000 -6,767,000 -5,592,000 -7,484,000 -8,016,000 -6,900,000 -6,258,000 -6,971,000 -10,087,000 -12,235,000 -8,899,000 -7,434,000 -6,685,000 -6,429,000 -6,423,000 -7,754,000 -6,940,000 -5,977,000 -4,993,000 -5,161,000 -4,428,000 -5,012,000 -5,331,000 -6,009,000 -6,244,000 -6,892,000 -5,240,000 -9,661,000 -8,028,000 -9,343,000 -6,383,000 -6,058,000 -3,716,000 -5,084,000 -3,238,000 -4,406,000 -4,686,000 -3,630,000 -3,940,000 -3,758,000 -4,505,000 -3,240,000 -4,589,000 -4,421,000 -4,503,000 -4,869,000 -6,995,000 -6,066,000 -3,930,000 -3,083,000 -2,704,000 -3,724,000 -2,756,000 -2,047,000 -2,336,000 -1,468,000 -2,530,000 -1,431,000 -1,350,000 -1,153,000 -1,931,000 -1,955,000                          
      proceeds from sales of property and equipment
    		58,000 97,000 29,000 83,000 49,000 51,000 79,000 89,000 106,000 100,000 128,000 153,000 81,000 69,000 178,000 147,000 112,000 208,000 84,000 175,000 269,000 163,000 96,000 192,000 75,000 118,000 74,000 -8,000 15,000 62,000 30,000 105,000 165,000 37,000 49,000 56,000 57,000 52,000 35,000 -6,000 30,000 18,000 44,000 89,000 27,000     -1,000 33,000 33,000 106,000 14,000 350,000 33,000 4,000 3,000 56,000 15,000 19,000 31,000 23,000 14,000 69,000 45,000 69,000 599,000 70,000 35,000 89,000 372,000 148,000 212,000 794,000 204,000 8,000 4,000 42,000 389,000 57,000       
      maturities/sales of investments and securities
    		1,000,000   0 0   0 0   0 0 -1,181,000 2,213,000 0 98,000 131,000 2,566,000 1,857,000 0 549,000 83,000 79,000 109,000 0 566,000 116,000 0 47,000 1,018,000 105,000 39,000 32,000 1,226,000 101,000 0 0 645,000                                                 
      payments to purchase investments and securities
    		-1,000,000   0 0   0 0   0 0 1,181,000 -2,213,000 0 -98,000 -131,000 -2,566,000 -1,857,000 0 -549,000 -83,000 -79,000 -109,000 0 -566,000 -116,000 0 -47,000 -1,018,000 -105,000 -39,000 -32,000 -1,226,000 -101,000 0 0 -645,000     -116,000 -83,000 -100,000 -35,514,000 -26,947,000 -62,734,000 -30,112,000 -46,826,000 -27,025,000 -33,296,000 1,000 -76,503,000 -84,745,000 -69,243,000 -59,908,000                              
      net cash from investing activities
    		-19,431,000 -10,197,000 -11,413,000 -12,637,000 -11,798,000 -11,874,000 -7,765,000 -8,920,000 -12,563,000 -13,412,000 -8,728,000 -7,403,000 -6,625,000 -12,013,000 -6,245,000 -9,314,000 -6,828,000 -5,769,000 -4,910,000 -4,987,000 -4,160,000 -4,851,000 -4,236,000 -1,518,000 -6,169,000 474,000 -6,276,000 -9,926,000 -7,550,000 -9,698,000 -6,353,000 -6,131,000 -3,547,000 -4,195,000 -3,199,000 -7,752,000 -4,712,000 -3,674,000 -3,968,000            -5,452,000  38,431,000      -36,051,000 9,174,000 -95,715,000 -51,923,000                          
      cash flows from financing activities:
    		                                                                                       
      repayment of loans payable and other borrowings
    		-309,000 -9,063,000 -2,150,000 -1,083,000 -405,000 -523,000 -6,922,000 -182,000 -407,000 -2,041,000 -168,000 -5,502,000 -3,153,000 -7,220,000 -4,580,000 -7,281,000 -550,000 -3,811,000 -1,947,000 -7,870,000 -6,120,000 -1,380,000 -1,009,000 -590,000 -457,000 -1,641,000 -988,000 -2,271,000 -10,985,000 -302,000 -2,197,000 -479,000 -4,766,000 -2,677,000 -3,048,000 -2,988,000 -2,804,000 -11,589,000 -3,893,000 -19,182,000 -833,000 -194,000 -3,017,000                                             
      repayment of senior notes
    		   0 0   0        0 0              -175,000,000                                                         
      proceeds from issuance of senior and convertible senior notes
    		                                                                                       
      payment of debt issuance costs
    		0 -33,000 -5,073,000 250,000 -29,000           0 0           0 117,000 0 -3,315,000 -105,000 12,000                                                       
      purchase of capped calls related to issuance of convertible senior notes
    		   0 0                                                                                   
      dividends paid
    		-30,275,000 -30,597,000 -30,887,000 -26,971,000 -27,135,000 -27,245,000 -27,239,000 -9,839,000 -9,841,000 -9,927,000 -9,927,000                                                                             
      repurchase of shares
    		-55,001,000 -45,000,000 -44,999,000 -40,000,000 -29,999,000 0 -55,933,000 -4,067,000 -45,000,000 0 -10,000,000 0 0 -10,000,000 -99,303,000 -23,975,000 -9,471,000 -19,161,000 -8,385,000 -8,779,000 0 0 -60,813,000 -7,078,000 0 0 -8,957,000 -70,647,000                                                            
      net cash from financing activities
    		-85,585,000      -90,094,000  -206,132,000 -11,968,000 -20,095,000    -103,883,000     -16,649,000 -6,120,000         -302,000 25,488,000         -19,167,000 -821,000 169,933,000 28,752,000 -10,039,000 30,000 -93,000 113,414,000 105,448,000   160,135,000    1,055,000   1,518,000    1,335,000 490,000 1,630,000   3,000 122,000   -152,211,000 -19,385,000 95,766,000 77,087,000 71,407,000 37,049,000 16,623,000 -78,769,000 111,599,000 36,235,000 124,055,000 -24,641,000 23,574,000 34,127,000 31,650,000 -30,661,000  
      net increase/(decrease) in cash and cash equivalents
    		  360,097,000     -127,528,000 -114,488,000 206,033,000 95,649,000                 105,704,000   1,806,000         26,799,000 18,388,000         -107,002,000 154,564,000     -10,464,000          138,476,000 86,896,000 3,874,000                    
      cash and cash equivalents, beginning of period
    		0 0 651,555,000  0 0 921,227,000  0 0 861,561,000  0 0 618,335,000  0 0 745,621,000  0 0 319,466,000  0 0 311,466,000  0 0 170,746,000  0 0 131,702,000  0 0 262,208,000  0 0 103,333,000                                      47,876,000    4,799,000   
      cash and cash equivalents, end of period
    		-201,526,000 -81,189,000 1,011,652,000  -161,362,000 87,623,000 905,298,000  -114,488,000 206,033,000 957,210,000  27,240,000 -248,248,000 520,395,000  -122,083,000 -32,059,000 716,433,000  125,357,000 -312,699,000 797,321,000  47,385,000 79,928,000 327,499,000  36,336,000 -3,126,000 172,552,000  -101,572,000 131,050,000 85,689,000  -20,256,000 -44,004,000 172,175,000  18,388,000 127,776,000 89,245,000                                      44,828,000    11,690,000   
      decrease in accounts payable and accrued liabilities
    		                      -1,956,000    -12,211,000    -15,000            -3,179,000            -5,210,000   -3,484,000    -3,438,000                          
      (decrease)/increase in home sale deposits
    		 -6,701,000 -2,863,000                            -298,000                            -942,000                             
      proceeds from issuance of senior notes
    		 0 497,195,000             0 0           0 0 0 206,000,000 0 0       0 0       106,699,000 0 0 175,000,000     0    0                  -1,000 0 -4,414,000 348,250,000 88,000 0   115,000 81,635,000 
      net increase in cash and cash equivalents
    		                   135,642,000 125,357,000 -312,699,000 477,855,000    16,033,000                                     -38,359,000                  28,536,000 7,605,000 45,000 6,891,000  -19,645,000 
      adjustments to reconcile net earnings to net cash (used in)/provided by operating activities:
    		                                                                                       
      net cash (used in)/provided by operating activities
    		  -42,576,000 -99,563,000 -91,996,000           96,614,000 -105,234,000 -129,526,000 -13,946,000                                     -18,478,000 -8,172,000 -24,563,000                              
      net cash provided by/(used in) financing activities
    		  414,086,000 -67,804,000 -57,568,000           -31,256,000 -10,021,000      438,178,000           181,227,000 41,952,000                     33,000                                
      (increase)/decrease in deposits on real estate under option or contract
    		     -34,127,000 -11,449,000 -19,113,000            3,433,000   -3,266,000              391,000 495,000 -4,046,000        -3,071,000 -16,549,000 -13,064,000          -16,000 1,788,000 -1,764,000 -1,062,000                          
      decrease/(increase) in receivables, prepaids and other assets
    		                                                                                       
      distributions of capital from unconsolidated entities
    		       94,000 0 0 43,000         0 0 0 1,000,000 4,300,000 0   0    88,000 0                 0 74,000 1,000 24,000   1,000 9,000 0 80,000 136,000 0 16,000 217,000 44,000 -600,000 1,709,000 -3,000 464,000 29,000 1,833,000 -1,435,000 16,700,000 14,154,000 2,056,000 206,000 1,018,000 14,339,000 8,303,000          
      proceeds from issuance of convertible senior notes
    		   0 0                                                                                   
      net (decrease)/increase in cash and cash equivalents
    		   -180,004,000   -15,929,000         56,044,000 -122,083,000 -32,059,000 -29,188,000                 23,787,000 -20,256,000       19,228,000 -146,525,000 -30,326,000 -13,180,000            -41,371,000 -11,345,000 -86,011,000 -6,651,000                          
      cash and cash equivalents, beginning of year
    		                                                                                       
      cash and cash equivalents, end of year
    		                                                                                       
      decrease/(increase) in other receivables, prepaids and other assets
    		      53,769,000              1,464,000 -4,088,000 7,557,000      52,000 -3,792,000 5,426,000                                                         
      increase in accounts payable and accrued liabilities
    		       -14,476,000    -41,651,000 5,215,000 -2,506,000 115,927,000 8,857,000 40,769,000               -13,173,000    -17,829,000 48,262,000   -8,066,000 34,953,000   -19,813,000 31,211,000   -20,258,000 58,147,000    10,270,000                         81,175,000 56,971,000   16,410,000    12,098,000  
      (increase)/decrease in real estate
    		     -257,120,000 -193,431,000         -137,324,000 -340,998,000                                          1,973,000 -31,089,000 10,126,000 -49,920,000                          
      decrease in other receivables, prepaids and other assets
    		                                                                                       
      increase in home sale deposits
    		     -3,416,000 6,191,000  -1,646,000 1,887,000 9,931,000  -3,053,000 12,542,000 5,668,000    5,899,000    1,856,000  -805,000    -2,971,000    3,249,000 3,400,000 4,449,000  -2,658,000 -2,993,000 6,442,000 -3,390,000 859,000 5,957,000 3,392,000 -4,156,000 3,478,000 3,698,000 1,839,000 -6,187,000 2,395,000 7,822,000 5,367,000  1,281,000 1,506,000 2,382,000   1,562,000                    -3,585,000 10,301,000 9,135,000 6,103,000 -3,829,000 6,914,000 9,744,000 3,269,000 -3,596,000  
      increase/(decrease) in accounts payable and accrued liabilities
    		      27,668,000            38,743,000                    455,000            14,671,000                                     
      adjustments to reconcile net earnings to net cash provided by/(used in) operating activities:
    		                                                                                       
      increase in receivables, prepaids and other assets
    		                                      -168,000 -1,016,000 4,279,000 -4,651,000 -5,695,000                                             
      net cash provided by/(used in) operating activities
    		       -104,520,000 104,207,000      12,188,000           81,095,000 32,254,000 188,548,000                                        4,396,000 20,633,000 81,123,000                  
      net cash (used in)/provided by financing activities
    		           -5,502,000 -3,153,000      -10,332,000       -1,641,000 -9,945,000 -72,918,000          -11,528,000 -4,248,000                    292,000 163,000                            
      increase in other receivables, prepaids and other assets
    		          -11,749,000  1,242,000 -38,321,000 -52,098,000                  -5,779,000 10,734,000 -20,162,000  -4,833,000                                                   
      decrease/(increase) in real estate
    		         11,951,000 2,999,000                                                         12,520,000 10,890,000 63,796,000                  
      decrease/(increase) in deposits on real estate under option or contract
    		         -5,395,000 10,886,000 10,287,000                     4,325,000 3,776,000 5,532,000     3,597,000 -885,000 -163,000 3,767,000         -1,368,000 1,768,000 325,000 99,000                                 
      (increase)/decrease in receivables, prepaids and other assets
    		                                                                                       
      net decrease in cash and cash equivalents
    		            27,240,000 -248,248,000 -97,940,000                    -46,013,000    -90,033,000    -14,088,000            -83,009,000   -445,000                              
      increase/(decrease) in home sale deposits
    		                          535,000                             2,433,000      920,000 -2,140,000 1,080,000                        
      proceeds from credit facility
    		                      500,000,000            45,000,000 -10,000,000       27,000,000                                             
      deferred tax asset revaluation
    		                                                                                       
      repayment of senior notes and senior convertible notes
    		                           0 0                                                           
      decrease in real estate
    		                                                              10,864,000 -16,608,000 27,030,000 77,167,000                      
      decrease in deposits on real estate under option or contract
    		                       -5,320,000 677,000 -1,487,000 6,583,000 2,364,000 -1,013,000 3,687,000 7,406,000                    3,030,000            3,044,000 1,255,000 5,195,000 681,000  2,052,000 4,211,000 2,349,000    11,852,000              
      (repayment of)/proceeds from credit facility
    		                                                                                       
      (increase) in real estate
    		                                                                                       
      excess income tax benefit from stock-based awards
    		                                       -3,000 -28,000 -77,000 -1,935,000 -100,000 -3,000     -1,223,000 -464,000                    0 0 25,000 321,000              
      excess income tax provision from stock-based awards
    		                                                                                       
      proceeds from stock option exercises
    		                                   0 0 71,000 161,000 5,000 42,000 5,000 2,834,000 308,000 27,000     7,838,000 3,078,000 367,000 2,678,000 167,000 1,055,000 33,000 280,000 1,518,000 292,000 261,000 174,000 1,335,000 490,000 1,630,000   14,000 122,000 16,000 767,000 33,000 0 469,000 1,390,000 2,475,000 7,982,000 2,456,000 842,000 1,360,000 3,291,000 1,498,000 1,250,000 739,000 980,000 1,150,000 1,275,000 437,000 
      repayment of credit facility
    		                                                                                       
      excess income tax provision/(benefit) from stock-based awards
    		                                   416,000 14,000 10,000 516,000                                                 
      repurchase/redemption of convertible senior notes
    		                                                                                       
      excess income tax (provision)/benefit from stock-based awards
    		                                   -416,000 -14,000 -10,000 -516,000                                                 
      repurchase of convertible senior notes
    		                                -74,593,000                                                       
      cash paid for acquisitions
    		                                           0    -245,000                                        
      debt issuance costs
    		                                       7,000 -58,000         -260,000 -1,143,000 188,000 -4,166,000   0   0 -98,000                            
      proceeds from issuance of common stock
    		                                           0 0 -12,000 110,432,000                                         
      deferred tax asset valuation benefit
    		                                                -1,557,000    -4,000                                   
      decrease in restricted cash
    		                                                            1,478,000 104,000                          
      net cash (used in)/provided by investing activities
    		                                         -3,400,000 -4,649,000      -20,785,000      -28,702,000                                 
      repayment of senior subordinated notes
    		                                               0 0 -85,558,000 -17,264,000                                     
      non-controlling interest acquisition
    		                                                                                       
      maturities of investments and securities
    		                                           9,015,000 50,196,000 17,855,000 47,533,000 30,112,000 61,876,000 27,025,000 43,999,000  70,500,000 70,201,000 50,000,000 95,000,000 144,000,000 85,000,000                              
      decrease/(increase) in restricted cash
    		                                                          -396,000                             
      increase in receivables and prepaid expenses and other assets
    		                                            -4,381,000 -1,123,000 -13,998,000                                         
      increase in restricted cash
    		                                                    3,854,000 -6,879,000 -83,000                                 
      cash and cash equivalents at beginning of period
    		                                            0 0 274,136,000  0 0 170,457,000  0 0 173,612,000 0 0 103,953,000  0 0 249,331,000  0 0 205,923,000  0 0 27,677,000  0 0 56,710,000 0 0 65,812,000      0    0 
      cash and cash equivalents at end of period
    		                                            -146,525,000 -30,326,000 260,956,000  -40,435,000 -107,002,000 325,021,000  223,223,000 -8,777,000 90,603,000 -10,464,000 64,060,000 103,508,000  -11,345,000 -86,011,000 242,680,000  -38,359,000 40,911,000 344,399,000  3,874,000 89,013,000 26,140,000  -6,381,000 12,759,000 38,919,000 27,971,000 5,803,000 41,662,000      7,605,000    -19,645,000 
      net cash provided by/(used in) investing activities
    		                                             12,750,000 5,073,000         7,981,000 71,952,000 22,600,000                              
      net earnings/
    		                                                  12,041,000           2,660,000                          
      adjustments to reconcile net earnings/(loss) to net cash from operating activities:
    		                                                                                       
      real estate-related impairments
    		                                                                    35,142,000 44,349,000                  
      equity in earnings of unconsolidated entities
    		                                                                                       
      deferred tax asset valuation reversal
    		                                                                                       
      (increase)/decrease in receivables and prepaid expenses and other assets
    		                                                 -7,855,000 -5,312,000       -1,540,000                              
      net income/
    		                                                   95,128,000 6,784,000      -895,000 1,219,000                            
      adjustments to reconcile net income/(loss) to net cash (used in)/provided by operating activities:
    		                                                                                       
      other assets-related impairments
    		                                                                                       
      loss on early extinguishment of senior subordinated debt
    		                                                                                       
      other operating expenses
    		                                                   -32,000 357,000 26,000 20,000 -47,000 12,000 406,000 229,000 622,000                            
      proceeds from sales and maturities of investment securities
    		                                                          149,970,000 49,992,000                            
      (increase)/decrease in restricted cash
    		                                                       -839,000 0 -926,000                              
      proceeds from issuance of senior and senior subordinated notes
    		                                                                                       
      proceeds from sale of common stock
    		                                                                             10,000 0 5,000 69,694,000       
      adjustments to reconcile net income/(loss) to net cash from operating activities:
    		                                                                                       
      real-estate-related impairments
    		                                                    417,000 863,000 293,000 1,047,000 590,000 664,000  680,000                            
      repayments of senior notes
    		                                                    0   0    0                            
      proceeds from issuance of senior and senior convertible notes
    		                                                                                       
      decrease in receivables and prepaid expenses and other assets
    		                                                           17,750,000 -11,606,000 90,494,000        53,300,000    63,000   7,712,000           
      net income
    		                                                      -4,754,000        43,286,000 -17,785,000 -73,602,000 -18,355,000  -144,013,000                    
      adjustments to reconcile net income to net cash from operating activities:
    		                                                                                       
      decrease/(increase) in receivables and prepaid expenses and other assets
    		                                                      1,355,000        19,378,000 1,513,000 5,658,000 2,405,000  -24,482,000                    
      net (loss)/income
    		                                                       -3,235,000 562,000 -6,659,000                              
      adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
    		                                                                                       
      loss on early extinguishment of debt, net of transaction costs
    		                                                       0                                
      goodwill and tangible asset impairments
    		                                                                                       
      decrease in deferred taxes
    		                                                                                       
      deferred tax asset valuation allowance
    		                                                                  12,338,000                     
      loss/(gain) on early extinguishment of senior subordinated debt
    		                                                                                       
      equity in
    		                                                                                       
      (decrease) in accounts payable and accrued liabilities
    		                                                                                       
      net repayments under credit facility
    		                                                                                       
      proceeds from issuance of common stock, net of transaction fees
    		                                                                  -3,000 0                    
      purchase of treasury stock
    		                                                                                       
      loss/(gain) on early extinguishment of debt, net of transaction costs
    		                                                           0                            
      purchase of investment securities
    		                                                           -45,521,000                            
      decrease/(increase) in home sale deposits
    		                                                                                       
      real estate related impairments
    		                                                             542,000   66,380,000 10,468,000      146,145,000                
      gain on early extinguishment of senior subordinated debt, net of transaction costs
    		                                                             0                          
      equity in (earnings)/losses from unconsolidated entities
    		                                                             -803,000                          
      increase in investment and securities
    		                                                             -50,024,000                          
      adjustments to reconcile net income to net cash provided by/(used in) operating activities:
    		                                                                                       
      decrease/(increase) in deferred taxes
    		                                                                                       
      tender offer stock compensation expense
    		                                                                                       
      gain on early extinguishment of senior subordinated debt
    		                                                                                       
      equity in losses/
    		                                                                    2,089,000 13,529,000                  
      net cash provided by/(used in) by operating activities
    		                                                                                       
      payments for stock option tender offer
    		                                                                                       
      decrease in income tax receivables
    		                                                                                       
      increase in deferred taxes
    		                                                                                       
      decrease in income tax receivable
    		                                                                0 107,660,000                      
      net (loss)/earnings
    		                                                                     -45,305,000 -128,839,000                 
      adjustments to reconcile net (loss)/earnings to net cash provided by/(used in) operating activities:
    		                                                                                       
      increase/(decrease) in deferred taxes
    		                                                                                       
      changes in assets and liabilities, net of effect of acquisitions:
    		                                                                                       
      decrease (increase) in real estate
    		                                                                                       
      decrease (increase) in deposits on real estate under option or contract
    		                                                                            3,916,000           
      (increase) in receivables and prepaid expenses and other assets
    		                                                                                       
      (decrease) in home sale deposits
    		                                                                                       
      net (repayments)/borrowings under credit facility
    		                                                                                       
      proceeds from loans payable and other borrowings
    		                                                                          359,000 -967,645,000 968,500,000 1,033,462,000 900,100,000 763,000,000 587,600,000       
      payments for repurchase of senior notes
    		                                                                                       
      goodwill-related impairments
    		                                                                      57,538,000 45,000,000                
      equity in losses from unconsolidated entities
    		                                                                                       
      net (repayments)/borrowing under credit facility
    		                                                                                       
      repayments of loan payable and other borrowings
    		                                                                                       
      proceeds from issuance of senior subordinated notes
    		                                                                       0 0 150,000,000              
      net borrowings/(repayments) under credit facility
    		                                                                                       
      repayments of loans payable and other borrowings
    		                                                                                       
      adjustments to reconcile net (loss)/earnings to net cash (used in)/provided by operating activities:
    		                                                                                       
      write-off of senior note issuance cost
    		                                                                             0 0         
      income tax benefit from stock option exercises
    		                                                                                       
      cash paid for earn-out agreements
    		                                                                                       
      adjustments to reconcile net (loss)/earnings to net cash from operating activities:
    		                                                                                       
      loss/
    		                                                                                       
      net borrowings under line of credit agreement
    		                                                                       -17,000,000   71,400,000             
      payments of senior notes
    		                                                                                       
      net decrease/(increase) in cash and cash equivalents
    		                                                                                       
      equity in earnings from unconsolidated entities, includes 1,120 of impairments to joint venture investments in 2007
    		                                                                                       
      senior subordinated notes issuance costs
    		                                                                                       
      write-off of deposits and land acquisition costs
    		                                                                         17,037,000 8,938,000             
      net borrowings (payments) under line of credit agreement
    		                                                                                       
      increase in deferred tax liability
    		                                                                                       
      excess tax benefit from stock-based compensation
    		                                                                          1,069,000 5,147,000 4,974,000           
      tax benefit from stock option exercises
    		                                                                             654,000 1,643,000 5,525,000 2,643,000 1,271,000 0 801,000 900,000   
      purchases of treasury stock
    		                                                                                       
      decrease in deferred tax liability
    		                                                                                       
      decrease (increase) in receivables and prepaid expenses and other assets
    		                                                                                5,441,000       
      increase in deferred tax asset
    		                                                                                       
      distributions of income from unconsolidated entities
    		                                                                                       
      changes in assets and liabilities, net of effect of acquisition:
    		                                                                                       
      cash paid for earnout agreements
    		                                                                                       
      net increase in cash and equivalents
    		                                                                                       
      cash and equivalents at beginning of period
    		                                                                                       
      cash and equivalents at end of period
    		                                                                                       
      see supplemental disclosures of cash flow information at note 10.
    		                                                                                       
      see accompanying notes to condensed consolidated financial statements
    		                                                                                       
      basic earnings per share
    		                                                                                       
      diluted earnings per share
    		                                                                                       
      write-off of senior note issuance costs
    		                                                                                4,942,000       
      net increase in liabilities over assets not owned
    		                                                                                    96,000   
      distributions from unconsolidated entities
    		                                                                                1,932,000 -4,447,000 6,170,000 1,059,000 916,000   
      senior note issuance costs
    		                                                                                       
      deferred income taxes
    		                                                                                       
      changes in assets and liabilities, net of effect of acquisitions in 2004 and 2002:
    		                                                                                       
      deferred tax asset
    		                                                                                       
      net increase in assets not owned
    		                                                                                       
      cash paid for acquisition
    		                                                                                       
      increase in goodwill
    		                                                                                       
      proceeds from loans payable
    		                                                                                  581,279,000 301,800,000 466,800,000 521,200,000 345,800,000 
      repayments of loans payable
    		                                                                                       
      deferred income tax provision
    		                                                                                       
      changes in assets and liabilities, net of effect of acquisition in 2004:
    		                                                                                       
      changes in assets and liabilities, net of effect of acquisitions in 2002 and 2001:
    		                                                                                       
      changes in operating assets and liabilities, excluding the effects of 2002 acquisitions:
    		                                                                                       
      investments in and distributions from unconsolidated entities
    		                                                                                       
      supplemental disclosure of cash flow information:
    		                                                                                       
      cash paid during the period for:
    		                                                                                       
      interest
    		                                                                                       
      income taxes
    		                                                                                       
      supplemental disclosure of non-cash flow activity:
    		                                                                                       
      increase in consolidated real estate not owned
    		                                                                                      -61,297,000 
      supplemental disclosure of non-cash activity:
    		                                                                                       
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