Taylor Morrison Home Corporation
(NYSE:TMHC)

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It also develops and constructs ...

Website: http://www.taylormorrison.com

Founded: 2007

Full Time Employees: 2,700

Sector: Consumer Cyclical

Industry: Residential Construction

Consumer Cyclical

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	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

home closings revenue	1,311,421,000	1,958,357,000	2,000,909,000	1,966,100,000	1,830,068,000	2,169,703,000	2,029,134,000	1,920,127,000	1,636,255,000	1,937,632,000	1,611,883,000	1,996,747,000	1,612,595,000	2,378,167,000	1,983,775,000	1,883,020,000	1,644,409,000	2,391,129,000	1,772,495,000	1,644,380,000	1,363,429,000	1,487,434,000	1,640,584,000	1,470,994,000	1,264,640,000	1,418,232,000	1,073,110,000	1,232,261,000	899,881,000	1,411,524,000	1,014,168,000	956,565,000	732,959,000	1,272,231,000	886,249,000	889,096,000	751,485,000	1,154,367,000	812,185,000	829,882,000	629,088,000	934,798,000	779,190,000	682,387,000	493,592,000	729,501,000	745,578,000	643,640,000	500,839,000	780,057,000	622,126,000	496,033,000
land closings revenue	14,479,000	26,529,000	5,733,000	421,000	4,261,000	33,138,000	27,820,000	13,234,000	7,225,000	29,532,000	14,291,000	12,628,000	4,520,000	14,419,000	14,225,000	36,816,000	15,610,000	20,270,000	42,228,000	32,057,000	4,889,000	25,028,000	6,756,000	10,546,000	22,939,000	12,690,000	4,420,000	5,858,000	4,113,000	21,566,000	5,170,000	7,997,000	5,168,000	5,674,000	4,299,000	3,764,000	3,356,000	19,596,000	27,418,000	10,936,000	6,602,000	21,058,000	5,782,000	8,743,000	8,188,000	30,281,000	5,027,000	5,974,000	12,099,000	8,887,000	4,524,000	5,616,000
financial services revenue	49,264,000	49,367,000	55,918,000	52,929,000	51,193,000	53,930,000	49,654,000	48,916,000	46,959,000	43,204,000	40,045,000	41,914,000	35,149,000	37,072,000	27,749,000	35,471,000	35,199,000	45,112,000	38,046,000	37,392,000	44,065,000	40,040,000	47,451,000	40,297,000	28,039,000	30,698,000	23,254,000	22,819,000	16,044,000	20,245,000	17,041,000	16,266,000	14,206,000
amenity and other revenue	11,928,000	65,387,000	33,191,000	10,620,000	10,497,000	99,718,000	14,234,000	8,776,000	9,313,000	9,497,000	9,326,000	9,275,000	9,593,000	62,468,000	8,895,000	39,716,000	7,906,000	48,911,000	5,982,000	5,451,000	5,429,000	5,000,000	4,643,000	4,848,000	30,081,000	4,816,000	4,321,000	4,488,000	5,054,000
total revenue	1,387,092,000	2,099,640,000	2,095,751,000	2,030,070,000	1,896,019,000	2,356,489,000	2,120,842,000	1,991,053,000	1,699,752,000	2,019,865,000	1,675,545,000	2,060,564,000	1,661,857,000	2,492,126,000	2,034,644,000	1,995,023,000	1,703,124,000	2,505,422,000	1,858,751,000	1,719,280,000	1,417,812,000	1,557,502,000	1,699,434,000	1,526,685,000	1,345,699,000	1,466,436,000	1,105,105,000	1,265,426,000	925,092,000
yoy	-26.84%	-10.90%	-1.18%	1.96%	11.55%	16.67%	26.58%	-3.37%	2.28%	-18.95%	-17.65%	3.29%	-2.42%	-0.53%	9.46%	16.04%	20.12%	60.86%	9.37%	12.62%	5.36%	6.21%	53.78%	20.65%	45.47%
qoq	-33.94%	0.19%	3.24%	7.07%	-19.54%	11.11%	6.52%	17.14%	-15.85%	20.55%	-18.69%	23.99%	-33.32%	22.48%	1.99%	17.14%	-32.02%	34.79%	8.11%	21.26%	-8.97%	-8.35%	11.32%	13.45%	-8.23%	32.70%	-12.67%	36.79%
cost of home closings	1,049,700,000	1,531,510,000	1,558,237,000	1,526,900,000	1,391,360,000	1,632,003,000	1,525,825,000	1,462,706,000	1,243,209,000	1,470,652,000	1,238,999,000	1,514,237,000	1,227,513,000	1,819,710,000	1,438,164,000	1,381,610,000	1,264,974,000	1,875,303,000	1,397,319,000	1,331,041,000	1,110,242,000	1,214,834,000	1,358,196,000	1,244,224,000	1,070,503,000	1,216,889,000	874,102,000	1,010,069,000	735,797,000	1,208,476,000	822,950,000	784,521,000	594,906,000	1,030,267,000	721,637,000	724,505,000	616,295,000	949,015,000	658,507,000	679,685,000	514,532,000	764,132,000	635,935,000	553,652,000	405,104,000	583,913,000	596,606,000	508,644,000	393,656,000	602,013,000	489,713,000	394,203,000	288,831,000
cost of land closings	12,002,000	25,048,000	2,154,000	207,000	3,489,000	22,694,000	27,010,000	18,703,000	5,202,000	24,598,000	13,572,000	12,703,000	4,345,000	13,505,000	11,571,000	24,204,000	14,364,000	15,249,000	36,439,000	28,138,000	4,027,000	21,796,000	5,217,000	10,287,000	27,132,000	23,453,000	2,934,000	3,792,000	2,692,000	18,754,000	3,979,000	6,444,000	4,281,000	4,136,000	3,002,000	2,467,000	2,400,000	15,415,000	8,179,000	6,686,000	5,632,000	11,394,000	3,919,000	4,566,000	4,666,000			4,744,000	8,713,000	4,854,250	6,120,000	5,653,000	7,644,000
financial services expenses	24,451,000	23,851,000	26,570,000	25,876,000	28,321,000	28,039,000	27,304,000	28,106,000	25,143,000	23,372,000	23,128,000	25,342,000	22,148,000	17,868,000	20,395,000	21,483,000	24,214,000	25,712,000	26,202,000	25,935,000	23,999,000	23,260,000	22,207,000	22,796,000	20,647,000	14,491,000	12,829,000	13,045,000	10,721,000	9,822,000	10,451,000	11,152,000	10,044,000
amenity and other expenses	10,301,000	56,406,000	32,169,000	9,599,000	9,575,000	109,743,000	9,634,000	9,250,000	9,353,000	9,139,000	8,128,000	8,597,000	8,285,000	41,225,000	6,574,000	26,246,000	6,444,000	36,871,000	6,341,000	5,463,000	5,103,000	5,016,000	4,125,000	5,200,000	29,661,000	4,401,000	4,166,000	4,746,000	3,842,000
total cost of revenue	1,096,454,000	1,636,815,000	1,619,130,000	1,562,582,000	1,432,745,000	1,792,479,000	1,589,773,000	1,518,765,000	1,282,907,000	1,527,761,000	1,283,827,000	1,560,879,000	1,262,291,000	1,060,060,750	1,476,704,000	1,453,543,000	1,309,996,000	1,000,062,250	1,466,301,000	1,390,577,000	1,143,371,000	955,048,750	1,389,745,000	1,282,507,000	1,147,943,000	669,683,750	894,031,000	1,031,652,000	753,052,000
gross margin	290,638,000	462,825,000	476,621,000	467,488,000	463,274,000	564,010,000	531,069,000	472,288,000	416,845,000	492,104,000	391,718,000	499,685,000	399,566,000	599,818,000	557,940,000	541,480,000	393,128,000	552,287,000	392,450,000	328,703,000	274,441,000	292,596,000	309,689,000	244,178,000	197,756,000	207,202,000	211,074,000	233,774,000	172,040,000	217,381,000	198,999,000	178,711,000	143,102,000	254,498,000	171,318,000	171,420,000	141,693,000	223,032,000	178,854,000	159,752,000	118,641,000	187,202,000	149,472,000	136,659,000	94,583,000	160,208,000	153,390,000	139,753,000	112,895,000	184,581,000	134,223,000	104,940,000	81,546,000
yoy	-37.26%	-17.94%	-10.25%	-1.02%	11.14%	14.61%	35.57%	-5.48%	4.32%	-17.96%	-29.79%	-7.72%	1.64%	8.61%	42.17%	64.73%	43.25%	88.75%	26.72%	34.62%	38.78%	41.21%	46.72%	4.45%	14.95%	-4.68%	6.07%	30.81%	20.22%	-14.58%	16.16%	4.25%	0.99%	14.11%	-4.21%	7.30%	19.43%	19.14%	19.66%	16.90%	25.44%	16.85%	-2.55%	-2.21%	-16.22%	-13.20%	14.28%	33.17%	38.44%
qoq	-37.20%	-2.89%	1.95%	0.91%	-17.86%	6.20%	12.45%	13.30%	-15.29%	25.63%	-21.61%	25.06%	-33.39%	7.51%	3.04%	37.74%	-28.82%	40.73%	19.39%	19.77%	-6.20%	-5.52%	26.83%	23.47%	-4.56%	-1.83%	-9.71%	35.88%	-20.86%	9.24%	11.35%	24.88%	-43.77%	48.55%	-0.06%	20.98%	-36.47%	24.70%	11.96%	34.65%	-36.62%	25.24%	9.38%	44.49%	-40.96%	4.44%	9.76%	23.79%	-38.84%	37.52%	27.90%	28.69%
gross margin %	20.95%	22.04%	22.74%	23.03%	24.43%	23.93%	25.04%	23.72%	24.52%	24.36%	23.38%	24.25%	24.04%	24.07%	27.42%	27.14%	23.08%	22.04%	21.11%	19.12%	19.36%	18.79%	18.22%	15.99%	14.70%	14.13%	19.10%	18.47%	18.60%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
sales, commissions and other marketing costs	89,876,000	120,594,000	115,426,000	116,389,000	109,076,000	121,822,000	117,714,000	113,956,000	102,600,000	113,543,000	98,797,000	113,034,000	92,760,000	118,124,000	94,692,000	96,135,000	89,123,000	119,679,000	97,185,000	97,560,000	85,952,000	95,116,000	102,015,000	94,038,000	86,327,000	93,611,000	76,765,000	82,615,000	67,429,000	92,649,000	67,504,000	64,604,000	53,698,000	81,054,000	61,476,000	61,516,000	55,617,000	74,256,000	58,277,000	59,182,000	47,841,000	61,952,000	53,482,000	47,022,000	36,220,000	44,594,000	47,186,000	41,951,000	35,166,000	45,610,000	37,029,000	34,267,000	25,942,000
general and administrative expenses	58,971,000	74,028,000	65,275,000	66,655,000	67,548,000	82,436,000	81,627,000	82,779,000	67,564,000	74,669,000	68,994,000	70,649,000	66,261,000	55,233,000	52,357,000	69,407,000	68,142,000	65,991,000	70,425,000	69,997,000	61,553,000	48,089,000	45,152,000	51,112,000	50,526,000	48,861,000	42,334,000	42,202,000	36,454,000	36,693,000	33,016,000	35,461,000	33,318,000	30,381,000	33,374,000	33,894,000	33,128,000	31,129,000	29,944,000	31,710,000	29,424,000	25,064,000	25,264,000	24,204,000	20,704,000	14,879,000	21,572,000	22,330,000	22,372,000	22,550,000	21,944,000	25,905,000	20,344,000
net income from unconsolidated entities	-2,877,000	-1,313,000	-1,253,000	-326,000	-1,975,000	-1,521,500	-707,000	-2,628,000	-2,751,000				-1,929,000
interest expense	11,155,000	11,911,000	12,774,000	13,819,000	8,499,000	5,893,000	3,379,000	4,087,000		-564,000	-5,782,000	-5,120,000	-1,111,000	3,851,000	4,382,000	5,189,000	4,252,000	3,198,000	710,000	3,000																						-27,000	-33,000	-82,000	-50,000	413,000	322,000	-24,000	449,000	643,000	-1,332,000
other expense	2,831,000	16,465,000	12,004,000	7,688,000	1,557,000	46,790,000	-3,635,000	6,877,000	595,000	80,884,000	2,968,000	8,549,000	-4,834,000	43,217,000	5,751,000	-11,014,000	542,000	22,702,000	47,000	45,000	975,000	15,668,000	1,830,000	-696,000	6,290,000	8,718,000	389,000	-489,000	-1,392,000	6,927,000	798,000	3,654,000	437,000	1,428,000	415,000	764,000	-351,000	3,345,000	1,935,000	3,412,000	3,254,000	9,000	2,393,000	3,463,000	5,771,000	8,151,000	3,025,000	4,036,000	3,235,000	-47,000	1,304,000
income before income taxes	130,682,000	227,816,000	272,395,000	263,263,000	278,569,000	307,330,000	332,691,000	267,217,000	248,880,000	225,254,000	228,406,000	315,759,000	248,419,000	368,529,000	399,649,000	391,597,000	232,900,000	342,578,000	225,565,000	163,224,000	131,741,000	119,090,000	148,958,000	84,844,000	-28,775,000	53,760,000	90,421,000	110,019,000	68,072,000	34,128,000	100,865,000	79,285,000	59,238,000	52,963,750	78,975,000	78,406,000	54,474,000									56,764,250	93,020,000	79,646,000	54,391,000	121,540,000	84,307,000	-147,783,000	39,872,000
income tax provision	30,253,000	50,720,000	67,944,000	67,278,000	64,838,000	63,307,000	81,219,000	67,303,000	57,719,000	52,092,000	57,960,000	80,854,000	57,191,000	93,128,000	90,418,000	98,443,000	54,439,000	59,876,000	53,098,000	38,469,000	29,298,000	22,428,000	33,759,000	17,622,000	781,000	-949,000	23,385,000	28,131,000	16,791,000	24,913,000	6,424,000	19,993,000	11,706,000	113,375,000	24,282,000	22,476,000	18,873,000	40,945,000	31,707,000	22,104,000	12,887,000	35,567,000	22,452,000	9,939,000	22,042,000	12,308,000	26,845,000	24,147,000	13,095,000	25,355,000	31,675,000		15,535,000
net income before allocation to non-controlling interests	100,429,000	177,096,000	204,451,000	195,985,000	213,731,000	244,023,000	251,472,000	199,914,000	191,161,000	173,162,000	170,446,000	234,905,000	191,228,000	275,401,000	309,231,000	293,154,000	178,461,000	282,702,000	172,467,000	124,755,000	102,443,000	96,662,000	115,199,000	67,222,000		54,709,000	67,036,000	81,888,000	51,281,000	9,215,000	94,441,000	59,292,000	47,532,000	30,426,000	54,693,000	55,930,000	35,601,000	76,111,000	58,684,000	45,664,000	26,104,000	66,385,000	45,794,000	20,021,000	96,844,000
net income attributable to non-controlling interests	-1,804,000	-3,080,000	-3,010,000	-2,408,000	-265,000			-454,000	-891,000			-303,000	-177,000			-2,167,000	-1,758,000	-2,340,750	-4,333,000	-608,000										-1,097,750	-714,000	-474,000
net income	98,625,000	174,016,000	201,441,000	193,577,000	213,466,000	242,453,000	251,126,000	199,460,000	190,270,000																																					40,742,500	66,175,000	55,499,000	41,179,000	96,030,000	53,103,000	-78,287,000	24,337,000
yoy	-53.80%	-28.23%	-19.78%	-2.95%	12.19%																																									-57.57%	24.62%	-170.89%	69.20%
qoq	-43.32%	-13.61%	4.06%	-9.32%	-11.96%	-3.45%	25.90%	4.83%																																						-38.43%	19.24%	34.78%	-57.12%	80.84%	-167.83%	-421.68%
net income margin %	7.11%	8.29%	9.61%	9.54%	11.26%	10.29%	11.84%	10.02%	11.19%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%
earnings per common share:
basic	1,030	1,800	2,050	1,940	2,110	2,350	2,410	1,890	1,790	1,610	1,570	2,150	1,760	2,530	2,750	2,470	1,460	2,190	1,350	970	760	730	880	510	-260	520	640	770	460	100	840	530	420	302.5	450	460	300									332.5	540	450	330
diluted	1,010	1,770	2,010	1,920	2,070	2,300	2,370	1,860	1,750	1,580	1,540	2,120	1,740	2,500	2,720	2,450	1,440	2,160	1,340	950	750	720	870	500	-260	510	630	760	460	100	830	520	410	302.5	450	460	300									332.5	540	450	330
weighted-average number of shares of common stock:
basic	96,033,000	99,069,000	98,439,000	99,537,000	101,245,000	104,813,000	104,132,000	105,500,000	106,457,000	108,424,000	108,837,000	109,210,000	108,429,000	114,982,000	112,701,000	117,932,000	121,186,000	126,077,000	124,378,000	128,440,000	128,883,000	127,812,000	129,775,000	129,629,000	121,908,000	106,997,000	105,472,000	106,238,000	110,512,000	111,743,000	111,396,000	111,347,000	107,195,000	62,061,000	72,471,000	58,977,000	38,554,000	31,084,000	30,427,000	31,574,000	31,923,000	33,063,000	33,122,000	33,076,000	33,067,000	32,937,000	32,956,000	32,875,000	32,858,000	32,840,000	32,858,000	32,806,000
diluted	97,530,000	100,707,000	100,048,000	100,923,000	103,017,000	106,846,000	106,089,000	107,249,000	108,564,000	110,145,000	110,622,000	110,856,000	110,053,000	116,221,000	113,780,000	118,931,000	122,657,000	128,019,000	125,770,000	130,259,000	131,246,000	129,170,000	131,433,000	130,364,000	121,908,000	108,289,000	106,852,000	107,232,000	111,668,000	115,119,000	113,440,000	113,482,000	114,767,000	120,915,000	121,183,000	121,061,000	120,478,000	120,832,000	120,103,000	121,052,000	121,267,000	122,384,000	122,458,000	122,409,000	122,355,000	122,313,000	122,338,000	122,354,000	122,344,000	122,319,000	122,317,000	122,327,000
loss on extinguishment of debt										26,000	269,000												10,247,000				3,610,000	2,196,000																33,317,000								10,141,000
net loss attributable to non-controlling interests						-422,750	-346,000			-58,750	245,000			-844,250	548,000
interest income									-43,000												-119,000	-362,000	-347,000	-337,000	-560,000	-423,000	-959,000	-958,000	-333,000	-350,000	-670,000	-276,000	-343,000	-263,000	-135,000	-89,000	-90,000	-37,250	-47,000	-15,000	-87,000											700,000	-486,000
net loss from unconsolidated entities										-1,708,000	-1,934,000	-3,186,000		11,198,000	1,180,000	3,637,000
net income available to taylor morrison home corporation										149,086,000	170,691,000	234,602,000	191,051,000	275,331,000	309,779,000	290,987,000	176,703,000	272,724,000	168,134,000	124,147,000	98,021,000	94,419,000	114,777,000	65,674,000	-31,431,000	54,658,000	67,012,000	81,851,000	51,131,000	9,918,000	93,568,000	58,678,000	44,933,000	22,431,000	32,876,000	27,401,000	11,476,000	19,281,000	14,837,000	11,685,000	6,813,000	17,667,000	12,344,000	5,077,000	25,962,000	27,875,000	17,846,000	14,816,000	10,932,000	25,830,000	14,263,000	5,327,000
earnings per common share
basic	1,030	1,800	2,050	1,940	2,110	2,350	2,410	1,890	1,790	1,610	1,570	2,150	1,760	2,530	2,750	2,470	1,460	2,190	1,350	970	760	730	880	510	-260	520	640	770	460	100	840	530	420	302.5	450	460	300									332.5	540	450	330
diluted	1,010	1,770	2,010	1,920	2,070	2,300	2,370	1,860	1,750	1,580	1,540	2,120	1,740	2,500	2,720	2,450	1,440	2,160	1,340	950	750	720	870	500	-260	510	630	760	460	100	830	520	410	302.5	450	460	300									332.5	540	450	330
gain on extinguishment of debt														-3,385,500	-71,000	-13,471,000
equity in income of unconsolidated entities																	-1,831,000	-1,861,000	-1,482,000	-2,126,000	-5,661,000	-2,298,000	-2,957,000	-3,495,000	-2,426,000	-1,526,000	-2,103,000	-3,561,000	-2,319,000	-3,555,000	-2,514,000	-4,017,000	-3,246,000	-1,903,000	-2,787,000	-3,071,000	-1,085,000			-2,305,000	-782,000			-1,225,000	-303,000	17,092,000	-11,756,000	-8,112,000	-2,629,000	-16,514,000	-9,425,000
transaction expenses																						27,469,250	4,791,000	18,712,000	86,374,000	1,624,000	617,000	1,750,000	4,129,000
net income attributable to non-controlling interests — joint ventures																					-4,422,000	-2,243,000	-422,000	-1,548,000	-1,875,000	-51,000	-24,000	-37,000	-150,000	-105,000	-159,000	-140,000		195,000	-427,000	-207,000		-438,000	-376,000	-296,000	-184,000	-356,750	-138,000	-920,000	-368,000			-222,000
net (loss/)income before allocation to non-controlling interests																									-29,556,000
net income before non-controlling interests																										49,998,500	67,012,000	81,851,000	51,131,000	50,209,250	94,282,000	59,152,000
total revenues																														692,385,000	1,036,379,000	980,828,000	752,333,000	1,299,679,000	908,027,000	908,494,000	769,090,000	1,196,967,000	853,417,000	854,316,000	645,329,000	970,144,000	796,288,000	700,973,000	509,415,000	772,405,000	759,038,000	657,789,000	519,200,000	798,419,000	634,441,000	508,865,000	381,512,000
total cost of revenues																														1,240,472,000	837,380,000	802,117,000	609,231,000	1,045,181,000	736,709,000	737,074,000	627,397,000	973,935,000	674,563,000	694,564,000	526,688,000	782,942,000	646,816,000	564,314,000	414,832,000	612,197,000	605,648,000	518,036,000	406,305,000	613,838,000	500,218,000	403,925,000	299,966,000
net loss attributable to non-controlling interests — joint ventures																																	-129,000				9,000
net income before non-controlling interests — principal equityholders																																	47,403,000	30,621,000	54,266,000	55,723,000	35,610,000	75,673,000	58,308,000	45,368,000	25,920,000	66,131,000	45,656,000	19,101,000	96,476,000	40,646,000	66,128,000	55,277,000
net income attributable to non-controlling interests — principal equityholders																																	-2,470,000	-19,202,500	-21,390,000	-28,322,000	-24,134,000
mortgage operations revenue																																		21,774,000	17,479,000	15,634,000	14,249,000	23,004,000	13,814,000	13,498,000	9,639,000	14,288,000	11,316,000	9,843,000	7,635,000	12,623,000	8,433,000	8,175,000	6,262,000	9,475,000	7,791,000	7,216,000	5,889,000
mortgage operations expenses																																		10,778,000	12,070,000	10,102,000	8,702,000	9,505,000	7,877,000	8,193,000	6,524,000	7,416,000	6,962,000	6,096,000	5,062,000	6,030,000	5,057,000	4,648,000	3,936,000	4,501,000	4,385,000	4,069,000	3,491,000
equity in loss of unconsolidated entities																																						-1,183,500	-1,646,000			-352,000	120,000
gain on foreign currency forward																																													-29,983,000
income from continuing operations before income taxes																																						117,056,000	90,391,000	67,768,000	38,991,000	100,555,000	68,246,000	29,960,000	62,224,000
net income from continuing operations																																						76,111,000	58,684,000	45,664,000	26,104,000	64,988,000	45,794,000	20,021,000	40,182,000
discontinued operations:
transaction expenses from discontinued operations																																													-9,043,000
gain on sale of discontinued operations																																													80,205,000
income tax expense from discontinued operations																																										1,397,000			-14,500,000
net income from discontinued operations																																										1,397,000			56,662,000
net income from continuing operations attributable to non-controlling interests — principal equityholders																																						-56,392,000	-43,471,000	-33,683,000	-19,107,000	-19,117,500	-33,312,000	-14,024,000	-29,133,000
net income from discontinued operations attributable to non-controlling interests — principal equityholders																																										-1,025,000			-41,381,000
earnings per common share — basic:
income from continuing operations																																						620	490	370	210	530	370	150	330
income from discontinued operations — net of tax																																										115			460
earnings per common share — diluted:
income from discontinued operations
cost of land closings.																																														4,360,500	3,985,000
indemnification and transaction expense																																														-35,500	21,000	-74,000
net loss attributable to non-controlling interests— joint ventures																																														-96,500	-47,000
net loss attributable to non-controlling interests — principal equityholders																																														-29,747,500	-48,282,000	-40,461,000
indemnification and transaction income																																																	-89,000
income before non-controlling interests, net of tax																																																	41,296,000
income attributable to non-controlling interests — joint ventures																																																	-117,000
income attributable to non-controlling interests — principal equityholders																																																	-30,247,000
earnings per common share :
basic	1,030	1,800	2,050	1,940	2,110	2,350	2,410	1,890	1,790	1,610	1,570	2,150	1,760	2,530	2,750	2,470	1,460	2,190	1,350	970	760	730	880	510	-260	520	640	770	460	100	840	530	420	302.5	450	460	300									332.5	540	450	330
diluted	1,010	1,770	2,010	1,920	2,070	2,300	2,370	1,860	1,750	1,580	1,540	2,120	1,740	2,500	2,720	2,450	1,440	2,160	1,340	950	750	720	870	500	-260	510	630	760	460	100	830	520	410	302.5	450	460	300									332.5	540	450	330
weighted-average number of shares of common stock :
basic	96,033,000	99,069,000	98,439,000	99,537,000	101,245,000	104,813,000	104,132,000	105,500,000	106,457,000	108,424,000	108,837,000	109,210,000	108,429,000	114,982,000	112,701,000	117,932,000	121,186,000	126,077,000	124,378,000	128,440,000	128,883,000	127,812,000	129,775,000	129,629,000	121,908,000	106,997,000	105,472,000	106,238,000	110,512,000	111,743,000	111,396,000	111,347,000	107,195,000	62,061,000	72,471,000	58,977,000	38,554,000	31,084,000	30,427,000	31,574,000	31,923,000	33,063,000	33,122,000	33,076,000	33,067,000	32,937,000	32,956,000	32,875,000	32,858,000	32,840,000	32,858,000	32,806,000
diluted	97,530,000	100,707,000	100,048,000	100,923,000	103,017,000	106,846,000	106,089,000	107,249,000	108,564,000	110,145,000	110,622,000	110,856,000	110,053,000	116,221,000	113,780,000	118,931,000	122,657,000	128,019,000	125,770,000	130,259,000	131,246,000	129,170,000	131,433,000	130,364,000	121,908,000	108,289,000	106,852,000	107,232,000	111,668,000	115,119,000	113,440,000	113,482,000	114,767,000	120,915,000	121,183,000	121,061,000	120,478,000	120,832,000	120,103,000	121,052,000	121,267,000	122,384,000	122,458,000	122,409,000	122,355,000	122,313,000	122,338,000	122,354,000	122,344,000	122,319,000	122,317,000	122,327,000
indemnification and transaction expenses																																																		10,799,000	396,000
income before noncontrolling interests, net of tax																																																		-329,250	52,632,000
income attributable to noncontrolling interests — joint ventures																																																		-71,500	-471,000
income attributable to noncontrolling interests — principal equityholders																																																		-5,155,250	38,840,000
income per common share:
basic																																																		150	430	160
diluted																																																		150	430	160
equity in net income of unconsolidated entities																																																				-8,466,000	-3,158,000
other income																																																				541,000	742,000
indemnification expense and transaction expenses																																																				189,635,000
income tax benefit																																																				-69,496,000
net (income) loss attributable to noncontrolling interests — joint ventures																																																				-106,000
net income attributable to noncontrolling interests — principal equityholders																																																				83,720,000
home closing revenue																																																					366,769,000
land closing revenue																																																					8,854,000
indemnification income																																																					-1,710,000
income attributable to noncontrolling interests																																																					-78,000
net income attributable to owners																																																					24,259,000
income per class a unit:
basic and diluted																																																					30
weighted-average number of class a units:
basic and diluted																																																					762,173,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	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

assets
cash and cash equivalents	652,933,000	850,037,000	370,591,000	130,174,000	377,815,000	487,151,000	256,447,000	246,845,000	554,287,000	798,568,000	613,811,000	1,227,264,000	877,717,000	724,488,000	329,244,000	378,340,000	569,249,000	832,821,000	373,407,000	366,267,000	392,500,000	532,843,000	547,916,000	674,685,000	507,761,000	326,437,000	222,049,000	196,529,000	171,982,000	329,645,000	382,054,000	320,102,000	287,970,000	573,925,000	264,862,000	246,477,000	300,839,000	300,179,000	160,519,000	131,879,000	141,124,000	126,188,000	158,279,000	145,546,000	399,537,000	234,217,000	281,528,000	300,821,000	433,000,000	389,181,000	355,415,000	421,147,000	8,244
restricted cash	500,000	1,194,000	326,000	4,090,000	288,000	15,000	846,000	1,928,000	3,105,000	8,531,000	765,000	765,000	6,717,000	2,147,000	578,000	953,000	1,578,000	3,519,000	1,578,000	1,854,000	976,000	1,266,000	1,144,000	2,218,000	3,671,000	2,135,000	1,747,000	1,698,000	1,824,000	2,214,000	1,319,000	1,319,000	1,318,000	1,578,000	1,315,000	1,611,000	1,320,000	1,633,000	1,320,000	1,300,000	1,280,000	1,280,000	1,280,000	655,000	655,000	1,310,000	12,871,000	18,037,000	17,890,000	24,814,000	18,893,000	15,042,000
total cash	653,433,000	851,231,000	370,917,000	134,264,000	378,103,000	487,166,000	257,293,000	248,773,000	557,392,000	807,099,000
real estate inventory:
owned inventory	6,138,036,000	6,046,468,000	6,308,889,000	6,411,667,000	6,225,039,000	6,162,889,000	6,265,280,000	6,151,776,000	5,841,924,000	5,473,828,000	5,479,987,000	5,232,853,000	5,330,548,000	5,346,905,000	5,904,344,000	5,975,551,000	5,699,709,000	5,444,207,000	5,845,767,000	5,692,753,000	5,567,328,000	5,209,653,000	5,300,106,000	5,595,951,000	5,706,335,000	3,967,359,000	4,229,971,000	4,073,123,000	4,101,283,000	3,965,306,000	3,255,300,000	3,194,241,000	3,064,520,000	2,956,709,000	3,240,664,000	3,196,024,000	3,059,016,000	3,010,967,000	3,286,685,000	3,242,308,000	3,295,803,000	3,118,866,000	3,127,510,000	2,944,300,000	2,750,090,000	2,511,623,000	2,831,874,000	2,713,802,000	2,468,938,000	2,243,744,000
consolidated real estate not owned	100,527,000	94,195,000	94,195,000	94,195,000	126,395,000	71,195,000	175,245,000	134,700,000	143,429,000	71,618,000	423,000	892,000	2,295,000	23,971,000	54,733,000	70,817,000	43,418,000	55,314,000	58,429,000	63,717,000	57,857,000	122,773,000	122,776,000	175,710,000
total real estate inventory	6,238,563,000	6,140,663,000	6,403,084,000	6,505,862,000	6,351,434,000	6,234,084,000	6,440,525,000	6,286,476,000	5,985,353,000	5,545,446,000	5,480,410,000	5,233,745,000	5,332,843,000	5,370,876,000	5,959,077,000	6,046,368,000	5,743,127,000	5,499,521,000	5,904,196,000	5,756,470,000	5,625,185,000	5,332,426,000	5,422,882,000	5,771,661,000	5,893,220,000	3,986,544,000	4,253,674,000	4,103,587,000	4,116,176,000	3,980,565,000	3,269,111,000	3,195,703,000	3,066,530,000	2,959,236,000	3,243,771,000	3,200,027,000	3,063,698,000	3,017,219,000	3,287,297,000	3,242,920,000	3,296,798,000	3,126,787,000	3,129,193,000	2,946,894,000	2,754,730,000	2,518,321,000	2,843,282,000	2,729,425,000	2,482,991,000	2,262,339,000
land deposits	388,277,000	360,690,000	360,633,000	352,395,000	302,583,000	299,668,000	273,967,000	204,551,000	199,043,000	203,217,000	206,258,000	207,946,000	228,117,000	263,356,000	290,340,000	278,314,000	260,861,000	229,535,000	163,730,000	126,015,000	124,469,000	125,625,000	138,160,000	152,960,000	167,029,000	39,810,000	41,790,000	54,214,000	55,063,000	57,929,000	47,855,000	40,514,000	61,961,000	49,768,000	50,879,000	52,977,000	36,283,000	37,233,000	35,091,000	38,615,000	31,193,000	34,113,000	35,356,000	36,255,000	31,364,000	34,544,000	48,816,000	46,514,000	66,275,000	43,739,000	35,736,000	32,817,000
mortgage loans held for sale	139,001,000	132,512,000	198,548,000	220,210,000	225,100,000	207,936,000	265,356,000	313,026,000	216,633,000	193,344,000	241,749,000	287,001,000	186,194,000	346,364,000	161,264,000	203,238,000	229,651,000	467,534,000	286,006,000	277,017,000	243,250,000	201,177,000	172,501,000	209,927,000	208,231,000	190,880,000	108,550,000	124,805,000	103,705,000	181,897,000	83,751,000	99,606,000	93,019,000	187,038,000	107,665,000	110,906,000	109,079,000	233,184,000	118,997,000	145,963,000	109,174,000	201,733,000	104,094,000	110,526,000
lease right of use assets	63,073,000	60,800,000	62,671,000	64,325,000	64,960,000	68,057,000	69,083,000	71,932,000	72,900,000	75,203,000	76,463,000	80,578,000	84,052,000	90,446,000	82,226,000	82,876,000	85,582,000	85,863,000	71,261,000	68,490,000	69,435,000	73,222,000	71,319,000	75,656,000	73,790,000
prepaid expenses and other assets	530,473,000	566,670,000	455,017,000	449,971,000	387,787,000	370,642,000	336,051,000	330,093,000	287,507,000	290,925,000	305,581,000	261,070,000	225,381,000	264,302,000	188,671,000	157,252,000	271,180,000	314,986,000	277,768,000	278,806,000	243,363,000	242,744,000	223,891,000	205,954,000	177,372,000	85,515,000	85,725,000	79,794,000	94,459,000	98,225,000	56,828,000	52,029,000	56,971,000	72,334,000	72,546,000	76,244,000	81,165,000	73,425,000	75,111,000	83,294,000	88,326,000	95,191,000	118,220,000	99,909,000	101,854,000	89,210,000	112,338,000	117,569,000	120,477,000	98,870,000	101,905,000	110,779,000
other receivables	269,835,000	241,678,000	265,970,000	240,998,000	212,196,000	217,703,000	207,595,000	214,919,000	189,771,000	184,518,000	188,723,000	189,455,000	196,184,000	191,504,000	214,282,000	171,737,000	155,660,000	150,864,000	127,947,000	100,969,000	105,915,000	96,241,000	90,722,000	97,588,000	115,119,000	70,447,000	80,886,000	68,500,000	92,585,000	86,587,000	98,048,000	94,320,000	91,830,000	94,488,000	98,948,000	101,453,000	100,774,000	115,246,000	129,165,000	126,566,000	126,406,000	120,729,000	128,131,000	115,847,000	99,354,000	85,274,000	107,429,000	87,717,000	67,213,000	56,213,000	102,178,000	61,044,000
investments in unconsolidated entities	483,011,000	486,978,000	487,857,000	474,684,000	475,192,000	439,721,000	397,061,000	381,571,000	369,982,000	346,192,000	329,634,000	306,265,000	294,755,000	282,900,000	306,081,000	291,560,000	173,231,000	171,406,000	145,780,000	130,044,000	136,105,000	127,955,000	125,132,000	112,333,000	127,367,000	128,759,000	128,363,000	129,518,000	138,334,000	140,541,000	179,249,000	189,733,000	196,695,000	192,364,000	184,817,000	178,878,000	171,815,000	157,909,000	151,606,000	149,844,000	144,278,000	128,448,000	126,359,000	128,473,000	112,813,000	110,291,000	216,777,000	187,505,000	133,451,000	139,550,000	89,256,000	82,230,000
deferred tax assets	74,363,000	74,363,000	76,248,000	76,248,000	76,248,000	76,248,000	67,825,000	67,825,000	67,825,000	67,825,000	67,656,000	67,656,000	67,656,000	67,656,000	151,240,000	151,240,000	151,240,000	151,240,000	238,078,000	238,078,000	238,078,000	238,078,000	273,983,000	277,106,000	268,693,000	140,466,000	142,597,000	145,076,000	145,076,000	145,076,000	105,356,000	117,892,000	118,032,000	118,138,000	215,666,000	212,925,000	206,634,000	206,634,000	234,457,000	234,457,000	233,749,000	233,488,000	252,341,000	251,392,000	251,392,000	258,190,000	247,637,000	252,193,000	249,611,000	244,920,000	270,858,000	274,172,000
property and equipment	268,773,000	259,015,000	283,418,000	268,490,000	247,328,000	232,709,000	322,483,000	316,706,000	300,740,000	295,121,000	262,671,000	223,847,000	213,374,000	202,398,000	223,594,000	220,230,000	207,918,000	155,181,000	146,463,000	127,869,000	125,118,000	97,927,000	95,546,000	96,504,000	98,798,000	85,866,000	83,654,000	84,630,000	85,275,000	86,736,000	38,258,000	38,916,000	39,044,000	7,112,000	6,229,000	5,933,000	6,055,000	6,586,000	6,320,000	6,334,000	7,483,000	7,387,000	5,821,000	5,690,000	4,893,000	5,337,000	7,871,000	7,721,000	7,355,000	7,515,000	6,724,000	5,839,000
goodwill	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,197,000	663,502,000	637,440,000	612,079,000	149,428,000	149,428,000	152,116,000	152,116,000	152,116,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	66,198,000	57,698,000	57,698,000	32,500,000	23,375,000	23,375,000	23,375,000	23,375,000	23,375,000	23,375,000	21,594,000	14,594,000
total assets	9,771,999,000	9,837,797,000	9,627,560,000	9,450,644,000	9,384,128,000	9,297,131,000	9,300,436,000	9,099,069,000	8,910,343,000	8,672,087,000	8,436,918,000	8,748,789,000	8,376,187,000	8,470,724,000	8,593,626,000	8,650,223,000	8,517,975,000	8,727,777,000	8,403,049,000	8,138,763,000	7,975,485,000	7,737,995,000	7,834,448,000	8,322,334,000	8,262,372,000	5,245,686,000	5,339,860,000	5,177,772,000	5,190,404,000	5,264,441,000	4,331,693,000	4,220,821,000	4,083,887,000	4,325,893,000	4,317,328,000	4,258,086,000	4,148,745,000	4,220,926,000	4,269,535,000	4,231,088,000	4,249,992,000	4,137,290,000	4,121,668,000	3,879,384,000	3,869,766,000	4,133,113,000	4,033,140,000	3,913,276,000	3,734,148,000	3,438,558,000	3,401,813,000	3,255,251,000	190,910
liabilities and stockholders' equity
accounts payable	255,352,000	251,641,000	285,207,000	311,578,000	276,526,000	270,266,000	269,300,000	310,724,000	276,093,000	263,481,000	272,830,000	281,583,000	247,887,000	269,761,000	264,190,000	291,337,000	225,312,000	253,348,000	210,920,000	269,924,000	258,349,000	215,047,000	188,470,000	215,063,000	230,312,000	164,580,000	189,556,000	162,055,000	143,082,000	151,586,000	124,731,000	160,051,000	142,789,000	140,165,000	146,263,000	168,568,000	136,413,000	136,636,000	145,944,000	151,083,000	154,897,000	151,861,000	164,253,000	151,272,000	136,815,000	122,466,000	142,910,000	153,389,000	123,248,000	121,865,000	123,301,000	113,454,000
accrued expenses and other liabilities	586,138,000	682,500,000	619,036,000	597,373,000	550,897,000	632,250,000	577,501,000	518,541,000	459,095,000	549,074,000	487,262,000	462,032,000	424,619,000	490,253,000	456,632,000	431,478,000	416,881,000	525,209,000	488,516,000	435,466,000	390,301,000	430,067,000	398,489,000	408,665,000	398,186,000	325,368,000	252,687,000	242,712,000	250,277,000	266,686,000	188,681,000	167,315,000	154,533,000	201,540,000	190,384,000	175,561,000	167,435,000	209,202,000	193,763,000	175,284,000	178,598,000	191,452,000	203,833,000	174,027,000	179,488,000	200,556,000	234,419,000	192,184,000	194,490,000	214,500,000	217,920,000	184,973,000
lease liabilities	72,822,000	71,525,000	73,048,000	74,408,000	75,047,000	78,998,000	79,426,000	82,059,000	81,138,000	84,999,000	86,401,000	89,310,000	92,895,000	100,174,000	91,554,000	91,872,000	94,405,000	96,172,000	81,642,000	78,814,000	79,572,000	83,240,000	80,270,000	84,201,000	79,724,000
income taxes payable	8,333,000	8,146,000			67,057,000	2,243,000	5,528,000		45,848,000			3,012,000	2,977,000		27,757,000	1,855,000	15,350,000		36,395,000	18,677,000	46,184,000	12,841,000	30,497,000	9,320,000	3,127,000	3,719,000	7,598,000	1,272,000				14,454,000	14,057,000	4,525,000	15,019,000	12,035,000	27,205,000	10,528,000	26,673,000	15,608,000	8,944,000	37,792,000	30,775,000	29,821,000	39,772,000	50,096,000	19,857,000	28,492,000	20,781,000	47,540,000	67,312,000	37,858,000
customer deposits	154,527,000	125,029,000	163,433,000	211,486,000	242,718,000	239,151,000	307,510,000	349,066,000	357,657,000	326,087,000	380,544,000	380,724,000	414,085,000	412,092,000	527,412,000	579,945,000	540,916,000	485,705,000	520,547,000	481,312,000	421,838,000	311,257,000	256,295,000	198,763,000	204,336,000	167,328,000	184,975,000	172,951,000	176,902,000	165,432,000	189,116,000	191,893,000	169,823,000	132,529,000	185,604,000	182,440,000	151,751,000	111,573,000	137,561,000	139,830,000	123,273,000	92,319,000	101,997,000	99,875,000	85,772,000	70,465,000	112,208,000	120,337,000	110,083,000	94,670,000	111,120,000	111,159,000
estimated development liabilities	4,365,000	4,365,000	4,365,000	4,365,000	4,365,000	4,365,000	19,241,000	27,416,000	27,416,000	27,440,000	42,271,000	42,352,000	43,005,000	43,753,000	37,958,000	38,280,000	38,522,000	38,923,000								36,705,000
senior notes	1,463,865,000	1,463,333,000	1,471,772,000	1,471,333,000	1,470,893,000	1,470,454,000	1,470,014,000	1,469,574,000	1,469,135,000	1,468,695,000	1,468,255,000	1,817,457,000	1,816,877,000	1,816,303,000	2,173,798,000	2,173,998,000	2,452,311,000	2,452,322,000	2,452,333,000	2,452,344,000	2,452,354,000	2,452,365,000	2,452,526,000	2,760,718,000	2,762,075,000	1,635,008,000	1,634,176,000	1,599,239,000	1,653,459,000	1,653,746,000	1,241,514,000	1,240,938,000	1,240,362,000	1,239,787,000	1,239,211,000	1,238,635,000	1,238,059,000	1,237,484,000	1,236,908,000	1,236,332,000	1,235,733,000	1,250,000,000	1,250,000,000	1,250,000,000	1,388,676,000	1,388,840,000	1,389,004,000	1,389,169,000	1,389,333,000	1,039,497,000	1,039,661,000	1,039,826,000
loans payable and other borrowings	787,061,000	745,169,000	568,813,000	456,725,000	436,965,000	475,569,000	439,878,000	404,242,000	441,190,000	394,943,000	332,177,000	326,216,000	338,667,000	361,486,000	409,791,000	447,191,000	395,400,000	404,386,000	406,859,000	415,074,000	392,400,000	348,741,000	332,953,000	374,238,000	299,184,000	182,531,000	225,203,000	212,897,000	192,764,000	225,497,000	160,173,000	136,508,000	123,161,000	139,453,000	161,798,000	152,762,000	156,330,000	150,485,000	142,786,000	158,244,000	154,243,000	134,824,000	145,589,000	123,067,000	128,184,000	147,516,000	233,507,000	282,090,000			336,605,000	313,287,000
revolving credit facility borrowings																150,000,000		31,529,000	126,692,000				285,000,000	485,000,000	485,000,000		200,000,000	200,000,000	235,000,000	200,000,000									211,084,000	210,705,000	305,326,000	115,000,000	230,000,000	105,000,000		40,000,000
mortgage warehouse facilities borrowings	90,855,000		150,176,000	171,319,000	175,741,000		233,331,000
liabilities attributable to consolidated real estate not owned	100,527,000	94,195,000	94,195,000	94,195,000	126,395,000	71,195,000	175,245,000	134,700,000	143,429,000	71,618,000	423,000	892,000	2,295,000	23,971,000	54,733,000	70,817,000	43,418,000	55,314,000	58,429,000	63,717,000	57,857,000	122,773,000	122,776,000	175,710,000
total liabilities	3,523,845,000	3,528,508,000	3,430,045,000	3,392,782,000	3,426,604,000	3,418,951,000	3,576,974,000	3,572,527,000	3,484,175,000	3,339,801,000	3,261,808,000	3,653,476,000	3,529,641,000	3,823,865,000	4,190,160,000	4,456,328,000	4,423,177,000	4,756,795,000	4,657,153,000	4,469,914,000	4,319,921,000	4,144,245,000	4,292,313,000	4,897,594,000	4,839,331,000	2,699,974,000	2,853,882,000	2,774,521,000	2,795,092,000	2,845,706,000	1,972,483,000	1,962,439,000	1,888,257,000	1,979,348,000	2,002,678,000	1,997,154,000	1,951,021,000	2,060,724,000	2,186,497,000	2,205,797,000	2,254,005,000	2,164,613,000	2,202,258,000	2,007,141,000	2,018,592,000	2,355,952,000	2,341,886,000	2,270,566,000	2,160,619,000	1,893,657,000	1,927,736,000	1,839,606,000
commitments and contingencies
total stockholders’ equity	6,248,154,000	6,309,289,000	6,197,515,000	6,057,862,000	5,957,524,000	5,878,180,000	5,723,462,000	5,526,542,000	5,426,168,000	5,332,286,000	5,175,110,000	5,095,313,000	4,846,546,000	4,646,859,000	4,403,466,000	4,193,895,000	4,094,798,000	3,970,982,000	3,745,896,000	3,668,849,000	3,655,564,000	3,593,750,000	3,542,135,000	3,424,740,000	3,423,041,000	2,545,712,000	2,485,978,000	2,403,251,000	2,395,312,000	2,418,735,000	2,359,210,000	2,258,382,000	2,195,630,000	2,346,545,000	2,314,650,000	2,260,932,000	2,197,724,000	2,160,202,000	2,083,038,000	2,025,291,000	1,995,987,000	1,972,677,000	1,919,410,000	1,872,243,000	1,851,174,000	1,777,161,000	1,691,254,000	1,642,710,000	1,573,529,000	1,544,901,000	1,474,077,000	1,415,645,000	1,000
total liabilities and stockholders’ equity	9,771,999,000	9,837,797,000	9,627,560,000	9,450,644,000	9,384,128,000	9,297,131,000	9,300,436,000	9,099,069,000	8,910,343,000	8,672,087,000	8,436,918,000	8,748,789,000	8,376,187,000	8,470,724,000	8,593,626,000	8,650,223,000	8,517,975,000	8,727,777,000	8,403,049,000	8,138,763,000	7,975,485,000	7,737,995,000	7,834,448,000	8,322,334,000	8,262,372,000	5,245,686,000	5,339,860,000	5,177,772,000	5,190,404,000	5,264,441,000	4,331,693,000	4,220,821,000	4,083,887,000	4,325,893,000	4,317,328,000	4,258,086,000	4,148,745,000	4,220,926,000	4,269,535,000	4,231,088,000	4,249,992,000	4,137,290,000	4,121,668,000	3,879,384,000	3,869,766,000	4,133,113,000	4,033,140,000	3,913,276,000	3,734,148,000	3,438,558,000	3,401,813,000	3,255,251,000
liabilities
mortgage warehouse borrowings		82,605,000				174,460,000		276,205,000	183,174,000	153,464,000	191,645,000	249,898,000	146,334,000	306,072,000	146,335,000	179,555,000	200,662,000	413,887,000	235,685,000	215,230,000	180,833,000	127,289,000	109,593,000	149,784,000	154,109,000	123,233,000	56,051,000	79,458,000	59,114,000	130,353,000	54,457,000	49,818,000	41,522,000	118,822,000	61,292,000	63,150,000	69,146,000	198,564,000	91,166,000	118,099,000	91,996,000	183,444,000	74,128,000	71,485,000	55,245,000
stockholders’ equity
common stock, 0.00001 par value...		1,000				1,000				1,000				1,000				1,000				1,000				1,000	1,000	1,000
additional paid-in capital		3,114,898,000				3,086,342,000				3,068,597,000				3,025,489,000				2,997,211,000				2,926,773,000				2,097,995,000	2,093,750,000	2,079,224,000	2,073,542,000	2,071,579,000	1,881,273,000	1,877,468,000	1,873,932,000	1,341,873,000	1,142,210,000	1,140,230,000	773,549,000	384,709,000	379,557,000	378,781,000	377,616,000	376,898,000	376,321,000	375,745,000	375,194,000	374,358,000	373,953,000	373,546,000	373,150,000	372,789,000	674,026,000	672,344,000
treasury stock		-2,000,527,000				-1,616,170,000				-1,265,097,000				-1,137,138,000				-760,863,000				-446,856,000				-343,524,000	-343,526,000	-343,526,000	-263,926,000	-186,087,000	-47,622,000	-47,622,000	-47,622,000	-47,622,000	-47,622,000	-43,524,000	-43,524,000	-43,524,000	-43,524,000	-39,691,000	-19,974,000	-14,981,000
retained earnings		5,176,353,000				4,393,853,000				3,510,544,000				2,741,615,000				1,688,815,000				1,025,789,000				782,350,000	727,692,000	660,680,000	578,829,000	527,698,000	517,780,000	425,238,000	366,749,000	319,833,000	297,402,000	265,782,000	240,089,000	228,613,000	209,332,000	194,495,000	182,810,000	175,997,000	158,330,000	145,987,000	140,910,000	114,948,000	87,073,000	69,227,000	54,411,000	43,479,000	18,455,000	5,327,000
accumulated other comprehensive income		2,597,000				2,509,000				896,000				359,000				689,000				-1,166,000				884,000	2,285,000	2,285,000	2,285,000	2,001,000																					2,311,000	856,000
total stockholders’ equity attributable to tmhc		6,293,322,000				5,866,535,000				5,314,941,000
non-controlling interests		15,967,000				11,645,000				17,345,000																					21,242,000	19,906,000	19,191,000
total cash, cash equivalents, and restricted cash											614,576,000	1,228,029,000	884,434,000	726,635,000	329,822,000	379,293,000	570,827,000	836,340,000	374,985,000	368,121,000	393,476,000	534,109,000	549,060,000	676,903,000	511,432,000	328,572,000	223,796,000	198,227,000	173,806,000	331,859,000	383,373,000	321,421,000	289,288,000	575,503,000	266,177,000	248,088,000	302,159,000
derivative assets														1,090,000	23,832,000	4,918,000	5,501,000	2,110,000	3,638,000	3,687,000	7,894,000	5,294,000	6,800,000	7,212,000	8,711,000	2,099,000	2,903,000	3,055,000	3,470,000	1,838,000	2,329,000	2,888,000	2,453,000	1,584,000	2,037,000	1,797,000	1,961,000	2,291,000
total stockholders' equity attributable to tmhc														4,630,326,000				3,925,853,000				3,504,541,000
non-controlling interests — joint ventures														16,533,000				45,129,000				89,209,000				8,006,000				3,543,000				1,663,000				1,525,000				6,398,000				6,528,000				7,236,000
estimated development liability																			39,135,000	39,356,000	40,233,000	40,625,000	35,444,000	36,132,000	36,393,000		36,762,000	36,883,000	37,104,000	37,147,000
intangible assets																							950,000	1,090,000	531,000	637,000	743,000	851,000	961,000	1,072,000	1,337,000	1,601,000	1,866,000	2,130,000	2,395,000	2,660,000	2,924,000	3,189,000	3,454,000	3,718,000	3,983,000	4,248,000	4,896,000	5,697,000	6,392,000	5,459,000	10,789,000	11,827,000	12,685,000	13,713,000	14,778,000	22,278,000
real estate not owned																									186,885,000	19,185,000	23,703,000	30,464,000	14,893,000	15,259,000	13,811,000
liabilities attributable to real estate not owned																									186,885,000	19,185,000	23,703,000	30,464,000	14,893,000	15,259,000	13,811,000
operating lease right of use assets																										36,663,000	37,751,000	33,399,000	29,378,000
operating lease liabilities																										42,317,000	43,171,000	36,590,000	32,497,000
total stockholders’ equity attributable to taylor morrison home corporation																										2,537,706,000	2,480,202,000	2,398,664,000	2,390,731,000	2,415,192,000	2,333,464,000	2,237,117,000	2,175,092,000	1,596,117,000	1,374,002,000	1,344,500,000	952,126,000	551,810,000	527,251,000	515,471,000	522,338,000	519,918,000	516,693,000	503,887,000	498,255,000	478,397,000	455,115,000	441,956,000
preferred stock, 0.00001 par value...
non-controlling interests – joint ventures																											5,776,000	4,587,000	4,581,000		4,504,000	1,359,000	1,347,000		1,858,000	1,623,000	1,126,000		6,844,000	6,614,000	6,508,000		6,304,000	6,354,000	6,624,000		6,882,000	7,131,000	7,266,000
class a common stock, 0.00001 par value...																													1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
class b common stock, 0.00001 par value...																																					1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
non-controlling interests — former principal equityholders
accumulated other comprehensive loss																															-17,968,000	-17,968,000	-17,968,000	-17,968,000	-17,989,000	-17,989,000	-17,989,000	-17,989,000	-18,115,000	-18,115,000	-18,115,000	-17,997,000	-17,959,000	-17,846,000	-17,850,000	-10,910,000	-5,912,000	-818,000	-4,193,000	-452,000
real estate not owned under option agreements																																1,462,000	2,010,000	2,527,000	3,107,000	4,003,000	4,682,000	6,252,000	612,000	612,000	995,000	7,921,000	1,683,000	2,594,000	4,640,000	6,698,000	11,408,000	15,623,000	14,053,000	18,595,000
liabilities attributable to real estate not owned under option agreements																																1,462,000	2,010,000	2,527,000	3,107,000	4,003,000	4,682,000	6,252,000	612,000	612,000		7,921,000
non-controlling interests — principal equityholders																																		748,765,000				1,606,867,000				1,446,361,000				1,292,236,000				1,121,848,000
non-controlling interests – principal equityholders																																			938,790,000	914,809,000	1,244,472,000		1,548,943,000	1,503,206,000	1,467,141,000		1,396,413,000	1,362,002,000	1,346,295,000		1,229,257,000	1,193,623,000	1,142,894,000
liabilities attributable to real estate not owned under option contracts																																									995,000
assets of discontinued operations																																														576,445,000
liabilities of discontinued operations																																														168,565,000
liabilities attributable to consolidated option agreements																																											1,683,000	2,594,000	4,640,000	6,698,000	11,408,000	15,623,000
mortgages receivable																																													83,407,000	191,140,000	72,919,000	77,010,000	73,758,000	95,718,000	45,235,000
mortgage borrowings																																														160,750,000	48,573,000	49,282,000	51,919,000	74,892,000	31,817,000	39,049,000
loans receivable																																															42,125,000	48,028,000	40,800,000	33,395,000	41,507,000	39,185,000
tax indemnification receivable																																															5,383,000	5,534,000	5,267,000	5,216,000	29,104,000	28,682,000
revolving credit facility																																															150,000,000	40,000,000
loans payable and other borrowings:
loans payable and other borrowings owned																																																	256,712,000
loans payable and other borrowings attributable to consolidated option agreements																																																	14,053,000
total loans payable and other borrowings																																																	270,765,000	300,693,000
loans payable and other borrowings attributable to the company																																																		282,098,000
loans payable and other borrowings attributable to consolidated option agreements.																																																		18,595,000
real estate inventory																																																			2,268,630,000	2,102,604,000
noncontrolling interests — joint ventures																																																			23,257,000	23,885,000
noncontrolling interests — principal equityholders																																																			756,027,000	713,232,000
mortgage receivables																																																				44,838,000
prepaids																																																					182,666
liabilities and equity
payable to taylor morrison																																																					191,766
common stock																																																					10
additional paid in capital																																																					990
deficit																																																					-1,856
total liabilities and equity																																																					190,910

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	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

cash flows from operating activities
net income before allocation to non-controlling interests	100,429,000	177,096,000	204,451,000	195,985,000	213,731,000	244,023,000	251,472,000	199,914,000	191,161,000	173,162,000	170,446,000	234,905,000	191,228,000	275,401,000	309,231,000	293,154,000	178,461,000	282,702,000	172,467,000	124,755,000	102,443,000	96,662,000	115,200,000	67,221,000	-29,556,000	54,709,000	67,036,000	81,888,000	51,281,000	9,215,000	94,441,000	59,292,000	47,532,000	30,426,000	54,693,000	55,930,000	35,601,000	76,111,000	58,684,000	45,664,000	26,104,000
adjustments to reconcile net income to net cash from operating activities:
net income from unconsolidated entities	-2,877,000	-1,313,000	-1,253,000	-326,000	-1,975,000		-707,000	-2,628,000	-2,751,000				-1,929,000
stock compensation expense	6,560,000	6,712,000	6,536,000	8,016,000	7,785,000	5,445,000	5,461,000	6,072,000	5,483,000	7,589,000	5,702,000	5,271,000	7,533,000	9,427,000	5,333,000	5,278,000	6,863,000	4,815,000	4,793,000	4,653,000	5,682,000	4,869,000	5,272,000	4,986,000	17,002,000	3,827,000	3,693,000	3,826,000	3,417,000	11,243,000	3,591,000	2,747,000	3,543,000	1,360,000	3,377,000	3,838,000	3,012,000	1,953,000	3,042,000	3,197,000	2,720,000	2,168,000	2,127,000	2,038,000	1,558,000	1,504,000	1,507,000	1,475,000	1,345,000	1,206,000	1,682,000	83,935,000	495,000
distributions of earnings from unconsolidated entities	4,577,000	2,705,000	2,821,000	4,167,000	3,096,000	1,664,000	1,399,000	6,969,000	2,897,000	1,853,000	1,843,000	4,687,000	847,000	-48,000	1,066,000	2,194,000	2,058,000	1,690,000	1,840,000	4,048,000	3,162,000	2,313,000	3,042,000	4,720,000	1,489,000	1,840,000	2,317,000	3,881,000	2,435,000	7,677,000	870,000	2,757,000	541,000	2,299,000	1,170,000	2,160,000	1,336,000	1,723,000	865,000	1,562,000	111,000	325,000	442,000	930,000	507,000	11,291,000	2,814,000	4,884,000	13,977,000	23,177,000	2,998,000	1,154,000	2,807,000
depreciation and amortization	10,735,000	10,610,000	10,405,000	10,146,000	9,021,000	9,696,000	9,913,000	11,331,000	10,250,000	9,689,000	9,239,000	7,391,000	7,087,000	8,391,000	7,690,000	8,917,000	8,841,000	10,254,000	9,928,000	10,162,000	9,636,000	10,397,000	9,322,000	9,016,000	8,601,000	9,337,000	7,733,000	6,589,000	7,765,000	8,785,000	6,300,000	6,291,000	5,015,000	959,000	897,000	1,026,000	1,071,000	972,000	1,026,000	896,000	1,078,000	1,180,000	1,075,000	991,000	861,000	132,000	1,333,000	3,012,000	-387,000	917,000	-178,000	1,422,000	1,301,000
lease expense	5,000,000
debt issuance costs amortization	800,000	732,000	668,000	667,000	665,000	667,000	741,000	741,000	741,000	741,000	830,000	876,000	868,000		1,030,000	353,000	191,000														790,000	774,000	878,000	955,000	955,000	954,000	955,000	955,000	955,000
inventory impairment charges	8,182,000				14,878,000
changes in operating assets and liabilities:
real estate inventory and land deposits	-127,337,000	262,364,000	87,351,000	-243,194,000	-79,943,000	73,980,000	-182,921,000	-324,466,000	-363,923,000	9,201,000	-257,238,000	117,866,000	51,596,000	559,554,000	57,500,000	-381,018,000	-286,828,000	335,682,000	-195,319,000	-126,971,000	-356,519,000	95,396,000	274,488,000	92,093,000	73,261,000	245,266,000	-140,174,000	29,009,000	-133,111,000	48,463,000	-68,400,000	-108,274,000	-120,004,000	285,066,000	-42,542,000	-153,702,000	-47,099,000	270,101,000	-40,852,000	46,073,000	-108,979,000	6,357,000	-39,284,000	-144,687,000	-246,993,000	211,290,000	-96,130,000	-183,414,000	-242,296,000	73,109,000	-125,571,000	-309,431,000	-88,254,000
mortgage loans held for sale, prepaid expenses and other assets	-6,083,000	19,617,000	-42,650,000	-114,033,000	-46,004,000	1,590,000	40,139,000	-188,030,000	-35,783,000	6,931,000	-22,537,000																																-21,642,000
customer deposits	29,498,000	-38,404,000	-48,053,000	-31,232,000	3,567,000	-68,359,000	-41,556,000	-8,591,000	31,570,000	-54,457,000	-180,000	-33,361,000	1,993,000	-115,320,000	-52,533,000	39,029,000	55,211,000	-34,842,000	39,235,000	59,474,000	110,581,000	47,971,000	57,532,000	-5,573,000	32,516,000	-17,647,000	12,024,000	-3,951,000	11,470,000	-37,814,000	-2,777,000	22,070,000	37,294,000	-53,075,000	3,164,000	30,689,000	40,178,000	-25,989,000	-2,269,000	16,557,000	30,492,000	-9,767,000	1,131,000	14,102,000	14,495,000	-30,075,000	-6,802,000	9,009,000	16,490,000	-15,107,000	-1,187,000	13,221,000	18,868,000
accounts payable, accrued expenses and other liabilities	-40,102,000	133,957,000	-34,050,000	99,432,000	-117,349,000	91,610,000	50,011,000	96,505,000	-22,133,000	112,042,000	22,472,000	62,394,000	-112,097,000		-38,102,000	93,771,000	-138,247,000		2,324,000	60,597,000	34,208,000		-60,237,000	66,356,000	-37,422,000		52,296,000	39,102,000	-13,896,000		7,449,000	32,375,000	-59,494,000	-25,006,000	4,658,000	33,106,000	-33,747,000	-11,064,000	12,169,000	-6,619,000	-14,965,000	-12,132,000	30,218,000	862,000	-15,952,000	-7,432,000	34,742,000	22,618,000	-15,981,000
income taxes payable	187,000	8,146,000	0	-67,057,000	64,814,000	-3,285,000			45,848,000			35,000	2,977,000		25,902,000	-52,356,000	54,211,000	-36,395,000	17,718,000	-27,507,000	33,343,000	-20,164,000	21,177,000	19,626,000	-592,000	-3,879,000	6,326,000			0	-14,454,000	397,000	9,532,000	-10,494,000	2,984,000	-15,170,000	16,677,000	-16,145,000	11,066,000	6,663,000	-28,848,000	8,414,000	953,000	-9,950,000	-10,912,000	38,761,000	-8,484,000	7,557,000	-26,389,000	3,783,000	29,273,000	1,519,000	-1,384,000
net cash from operating activities	-10,431,000	646,431,000	219,640,000	-125,957,000	77,231,000	438,249,000	135,889,000	-233,322,000	-130,737,000	255,608,000	-56,550,000	259,662,000	347,449,000	647,785,000	264,497,000	138,029,000	57,461,000	480,191,000	-5,951,000	46,714,000	-144,308,000	325,253,000	474,825,000	251,103,000	72,101,000	239,839,000	7,703,000	173,968,000	-28,294,000	79,598,000	45,507,000	9,784,000	705,000	253,458,000	32,805,000	-47,941,000	147,911,000	230,179,000	76,757,000	82,249,000	-16,583,000	9,025,000	21,195,000	-122,730,000	-170,178,000	237,319,000	-20,105,000	-104,458,000	-246,446,000	186,480,000	-43,892,000	-241,190,000	-53,331,000
capital expenditures	-9,963,000	-11,132,000	-13,047,000	-7,680,000	-8,513,000	-10,060,000	-8,829,000	-8,330,000	-9,111,000	13,616,000	-25,997,000	-7,238,000	-13,807,000	-8,103,000	-9,677,000	-7,412,000	-5,389,000	-5,501,000	4,825,000	-12,699,000	-7,824,000	-12,484,000	-8,225,000	-11,020,000	-6,031,000	-11,443,000	-6,648,000	-5,833,000	-6,194,000	-6,004,000	-5,861,000	-5,898,000	-2,695,000	-1,578,000	-928,000	-640,000	-275,000	-974,000	-747,000	518,000	-705,000	-2,545,000	-254,000	-1,182,000	-317,000	-977,000	-972,000	-2,467,000	693,000	-1,579,000	-1,457,000	-366,000	-384,000
free cash flows	-20,394,000	635,299,000	206,593,000	-133,637,000	68,718,000	428,189,000	127,060,000	-241,652,000	-139,848,000	269,224,000	-82,547,000	252,424,000	333,642,000	639,682,000	254,820,000	130,617,000	52,072,000	474,690,000	-1,126,000	34,015,000	-152,132,000	312,769,000	466,600,000	240,083,000	66,070,000	228,396,000	1,055,000	168,135,000	-34,488,000	73,594,000	39,646,000	3,886,000	-1,990,000	251,880,000	31,877,000	-48,581,000	147,636,000	229,205,000	76,010,000	82,767,000	-17,288,000	6,480,000	20,941,000	-123,912,000	-170,495,000	236,342,000	-21,077,000	-106,925,000	-245,753,000	184,901,000	-45,349,000	-241,556,000	-53,715,000
cash flows from investing activities:
purchase of property and equipment	-9,963,000	-11,132,000	-13,047,000	-7,680,000	-8,513,000	-10,060,000	-8,829,000	-8,330,000	-9,111,000	13,616,000	-25,997,000	-7,238,000	-13,807,000	-8,103,000	-9,677,000	-7,412,000	-5,389,000	-5,501,000	4,825,000	-12,699,000	-7,824,000	-12,484,000	-8,225,000	-11,020,000	-6,031,000	-11,443,000	-6,648,000	-5,833,000	-6,194,000	-6,004,000	-5,861,000	-5,898,000	-2,695,000	-1,578,000	-928,000	-640,000	-275,000	-974,000	-747,000	518,000	-705,000	-2,545,000	-254,000	-1,182,000	-317,000	-977,000	-972,000	-2,467,000	693,000	-1,579,000	-1,457,000	-366,000	-384,000
distributions of capital from unconsolidated entities	8,750,000	11,621,000	10,168,000			11,099,000	13,438,000			91,000	383,000	0	350,000	29,758,000	8,941,000			17,678,000	1,105,000	5,681,000	7,451,000	9,209,000	8,807,000	15,333,000	6,713,000	1,890,000	5,992,000	12,522,000	3,180,000	34,731,000	12,306,000	9,473,000	492,000		928,000
investments of capital into unconsolidated entities	-6,483,000	-12,132,000	-24,909,000	-11,945,000	-36,592,000	-55,162,000	-29,619,000	-21,092,000	-23,936,000	-16,794,000	-23,661,000	-13,011,000	-11,123,000	-17,728,000	-22,264,000	-67,530,000	-2,052,000	-43,133,000	-17,200,000	-1,541,000	-13,102,000	-12,047,000	-19,421,000	-1,548,000	-3,042,000	-2,600,000	-5,051,000	-4,026,000	-1,089,000	171,000	-179,000	-1,250,000	-2,118,000	-7,803,000	-5,250,000	-9,043,000	-14,561,000	-7,848,000	-2,871,000	-6,479,000	-15,159,000	-5,267,000	1,553,000	-22,224,000	-2,726,000	-16,705,000	-24,832,000	-46,250,000	-10,412,000	-66,925,000	-34,000	-522,000	-1,153,000
purchase of fixed-maturity securities	-15,727,000
proceeds from sale and maturities of fixed-maturity securities	6,285,000
purchase of equity securities	-995,000
net cash from investing activities	-18,133,000	-70,866,000	-27,788,000	-11,013,000	-45,105,000	-54,123,000	-25,010,000	-24,261,000	-33,047,000	-3,087,000	-49,275,000	-20,249,000	-24,580,000	3,927,000	-23,000,000	11,634,000	-7,441,000	-30,956,000	-21,270,000	-8,559,000	-13,475,000	-15,322,000	-18,694,000	-66,982,000	-211,806,000	-12,153,000	-5,707,000	2,663,000	-4,103,000	-163,988,000	6,266,000	2,325,000	-4,321,000	-9,521,000	-5,250,000	-6,791,000	-14,433,000	-6,594,000	-1,748,000	-4,325,000	-68,683,000	-9,507,000	-157,785,000	-78,989,000	296,448,000	-18,225,000	-21,284,000	-47,597,000	-2,345,000	-69,620,000	-3,695,000	-1,193,000	-1,283,000
cash flows from financing activities
repayments on loans payable and other borrowings	-9,618,000	0				0	0	-40,549,000	-11,544,000	-2,380,000	-3,021,000	-7,969,000	-7,377,000		-5,535,000	-18,538,000	-26,688,000
borrowings on mortgage warehouse facilities	531,191,000	861,916,000	880,126,000	870,111,000	854,722,000	1,063,848,000	979,355,000	895,805,000	713,090,000	804,421,000	700,163,000	868,694,000	634,404,000		590,516,000	631,208,000	562,024,000
repayments on mortgage warehouse facilities	-522,941,000	-929,486,000	-901,270,000	-874,533,000	-853,441,000	-1,122,719,000	-1,022,229,000	-802,774,000	-683,380,000	-842,602,000	-758,416,000	-765,130,000	-794,142,000		-623,736,000	-652,315,000	-775,249,000
changes in stock option exercises and issuance of restricted stock units	-7,570,000		4,087,000	640,000	-5,663,000		1,989,000	1,425,000	-10,856,000
payment of principal portion of finance lease	-1,321,000	-21,000	-21,000	-22,000	-1,321,000	-22,000	-24,000	-31,000	-1,327,000	-3,000	-3,000	-5,000	-1,305,000		-5,000
repurchase of common stock	-149,578,000	-71,370,000	-74,553,000	-100,000,000	-135,093,000	-89,907,000	-61,297,000	-104,745,000	-91,649,000	-24,391,000	-100,000,000	0	-3,568,000	-40,863,000	-104,999,000	-172,384,000	-58,029,000	-44,589,000	-91,659,000	-106,754,000	-38,418,000	-13,169,000	0	0	-90,163,000	0	0	-79,600,000	-77,839,000					0				0	-3,833,000	-19,717,000	-4,993,000
cash and distributions to non-controlling interests of consolidated joint ventures	-9,397,000					-8,179,000	-153,000	-167,000	-257,000						-1,515,000	-27,176,000	-1,752,000
net cash from financing activities	-169,234,000	-95,251,000	44,801,000	-106,869,000	-141,189,000	-154,253,000	-102,359,000	-51,036,000	-85,923,000	-59,998,000	-507,628,000	104,182,000	-165,070,000	-254,899,000	-290,968,000	-341,197,000	-315,533,000	12,120,000	34,085,000	-63,510,000	17,150,000	-324,882,000	-583,974,000	-18,650,000	322,565,000	-122,910,000	23,573,000	-152,210,000	-125,656,000	32,876,000	10,179,000	20,024,000	-282,599,000	65,389,000	-9,466,000	661,000	-133,131,000	-83,925,000	-46,369,000	-87,169,000	100,202,000	-31,609,000	149,887,000	-52,289,000	-168,994,000	-32,513,000	30,079,000	12,444,000	299,317,000	-69,466,000	-23,250,000	434,690,000	-4,027,000
net decrease in cash and cash equivalents and restricted cash	-197,798,000		236,653,000	-243,839,000	-109,063,000										-49,471,000	-191,534,000	-265,513,000
cash, cash equivalents, and restricted cash — beginning of period	851,231,000	0	0	0	487,166,000	0	0	0	807,099,000	0	0	0	726,635,000	0	0	0	836,340,000	0	0	0	534,109,000	0	0	0	328,572,000	0	0	0	331,859,000	0	0	0	575,503,000	0	0	0	301,812,000
cash, cash equivalents, and restricted cash — end of period	653,433,000	480,314,000	236,653,000	-243,839,000	378,103,000	229,873,000	8,520,000	-308,619,000	557,392,000	192,523,000	-613,453,000	343,595,000	884,434,000	396,813,000	-49,471,000	-191,534,000	570,827,000	461,355,000	6,864,000	-25,355,000	393,476,000	-14,951,000	-127,843,000	165,471,000	511,432,000	104,776,000	25,569,000	24,421,000	173,806,000	-51,514,000	61,952,000	32,133,000	289,288,000	309,326,000	18,089,000	-54,071,000	302,159,000
supplemental cash flow information
income taxes paid	677,000																					-867,000				476,000	-16,974,000	-3,630,000	-1,000		-23,044,000	-19,456,000	-2,069,000	-26,353,000	-24,039,000	-43,938,000	-2,195,000	-29,175,000	-20,642,000	-15,960,000	-42,184,000	-172,428,000	141,474,000	-19,743,000	-40,067,000	-4,909,000	-30,771,000	-18,073,000	-45,318,000
supplemental non-cash investing and financing activities:
loans payable issued to sellers in connection with land purchase contracts	76,886,000
change in consolidated real estate not owned	6,332,000
accrual of excise tax on share repurchases	-1,227,000	-696,000	-642,000	-980,000	-1,023,000		-553,000
loss on extinguishment of debt										26,000												0				0	3,610,000															0	0							0	0
estimated development liability change in estimate
deferred income taxes																						38,886,000				2,131,000				31,690,000	12,536,000	140,000	106,000	97,528,000	-2,741,000			27,823,000	0	-708,000	-261,000	18,853,000	-949,000	0	6,798,000	-13,932,000	4,455,000	-2,500,000	-5,726,000	26,869,000	0
real estate impairment charges
change in build-to-rent/urban form assets due to sale
increase in loans payable and other borrowings		58,167,000								4,677,000	0	1,000	2,425,000	4,707,000	3,618,000	11,590,000	18,287,000	26,688,000	31,510,000	35,427,000	36,868,000	20,592,000	24,614,000	30,029,000	18,205,000	12,831,000	8,762,000	3,081,000	2,066,000	2,779,000	8,854,000	16,481,000	1,823,000	12,977,000	1,000			-22,360,000	19,089,000
borrowings on revolving credit facilities															0	150,000,000	32,548,000
repayments on revolving credit facilities															-150,000,000	0	-64,077,000
proceeds from issuance of senior notes
repayments on senior notes										0				-357,845,000	-824,000							0	-811,775,000	0	-50,000,000	0	-413,252,000															0	0							0	0
payment of deferred financing costs																						-149,000	-6,199,000	0	-3,000	199,000																				0
changes in stock option exercises and issuance of restricted stock
net increase in cash and cash equivalents and restricted cash																			6,864,000	-25,355,000	-140,633,000
income tax payments										-50,007,000	-75,390,000				-64,516,000
non-cash portion of loss on debt extinguishment																						0	0	0	1,723,000																	0
operating lease expense			4,301,000	4,718,000	4,945,000		4,584,000	5,602,000	5,903,000		5,759,000	6,368,000	7,144,000		6,911,000	6,719,000	6,913,000		4,209,000	3,989,000	3,969,000		4,327,000	4,839,000	3,752,000		2,312,000	2,312,000	2,065,000
change in urban form assets due to sale															0
estimated development liabilities - change in estimate
inventory impairments			7,189,000
land held for sale write-down							0
borrowings on revolving credit facility			140,000,000																			0	135,000,000	0	695,000,000	220,000,000	0	60,000,000	35,000,000									0	15,000,000	10,000,000	230,000,000	155,000,000	210,000,000			50,000,000	110,000,000	40,000,000	53,000,000	0	0	436,000,000	471,000,000
repayments on revolving credit facility			-140,000,000																				-335,000,000	0	-210,000,000		0
payments of deferred financing costs
distributions to non-controlling interests of consolidated joint ventures			0	-3,065,000	-393,000																											-128,000	-445,000	0			-390,000	-1,249,000			-74,000	-160,000
income tax paid			-73,478,000	-156,705,000	-24,000
change in loans payable issued to sellers in connection with land purchase contracts			29,163,000	57,200,000	220,000		63,164,000	48,910,000	100,453,000	108,651,000	42,458,000	44,580,000	39,865,000	46,569,000	24,821,000	99,807,000	59,830,000	105,349,000	52,917,000	39,002,000	82,378,000	56,505,000	19,458,000	97,156,000	20,189,000	9,651,000	31,298,000	42,117,000	11,120,000		28,820,000	16,450,000	7,829,000	11,834,000	23,846,000	10,924,000	20,381,000	7,355,000	33,012,000	5,777,000	16,931,000
change in inventory not owned			0	-32,200,000	55,200,000	-104,050,000	40,545,000	-8,729,000	71,811,000	71,195,000	-469,000	-1,403,000	-21,676,000	-30,762,000	-16,084,000	27,399,000	-11,896,000	-3,115,000	-5,288,000	5,860,000	-64,916,000	-3,000	-52,934,000	-11,175,000	-22,281,000	-4,518,000	-6,761,000	15,571,000	-366,000		12,349,000	-548,000	-517,000	-580,000	-896,000	-679,000	-1,570,000
net loss from unconsolidated entities										-1,708,000	-1,934,000			11,198,000	1,180,000
gain on land transfers														0	-808,000
net increase/decrease in cash and cash equivalents and restricted cash										192,523,000	-613,453,000	343,595,000	157,799,000
investments of land in unconsolidated joint ventures														0	3,443,000
impairment in unconsolidated joint ventures
estimated development liabilities change in estimate
net decrease/increase in cash and cash equivalents and restricted cash								-308,619,000	-249,707,000
income tax (paid)/refund
income tax refunds									120,000
land held for sale impairments
payments to acquire investments and securities
proceeds from stock option exercises and issuance of restricted stock
net non-cash (distributions)/contributions (to)/from unconsolidated entities
common stock surrendered in connection with warrant exercise
common stock issued in connection with warrant exercise
proceeds from stock option exercises and issuance of restricted stock units											3,649,000	8,591,000	4,493,000
gain on extinguishment of debt															-71,000
mortgages held for sale, prepaid expenses and other assets													190,202,000	-239,844,000	-59,832,000	133,847,000	171,618,000	-295,099,000	-66,373,000	-64,478,000	-85,270,000	-56,007,000	26,055,000	-7,461,000	1,535,000	-72,402,000	-8,397,000	11,515,000	42,670,000	-109,025,000	7,675,000	-4,768,000	78,862,000	-74,627,000	8,824,000	2,200,000	130,789,000	-97,333,000	32,547,000	-31,916,000	75,650,000
income tax refunds/													1,943,000
cash flows from operating activities:
debt issuance costs/(premium) amortization																		184,000	119,000	118,000	118,000		-339,000
inventory impairments charges
change in urban form/btr assets due to sales
accounts payable, estimated development liabilities, and accrued expenses and other liabilities
payments for business acquisitions, net of cash acquired																						0	145,000	-69,747,000	-209,446,000
cash flows from financing activities:
repayments of loans payable and other borrowings																				-16,651,000	-27,580,000	-30,926,000	-49,240,000	-28,211,000	-32,726,000	-5,719,000	-4,817,000	-6,769,000	-13,078,000	-10,377,000	-6,592,000	-5,466,000	-2,884,000	-5,206,000	-3,258,000	-5,425,000	-2,622,000	47,140,000	-34,546,000	-8,971,000	-21,558,000	-29,593,000	-10,559,000	-4,282,000	-20,167,000	-37,294,000	-83,032,000	-39,046,000	-35,288,000	-125,593,000	-32,888,000	-18,042,000	-6,454,000
payments on revolving credit facility																																						-215,000,000	-15,000,000	-105,000,000	-35,000,000	-270,000,000	-85,000,000	-10,000,000	-40,000,000		0	0	-53,000,000	0	0	-524,000,000	-433,000,000
borrowings on mortgage warehouse																				801,860,000	697,398,000	698,311,000	689,580,000	628,601,000	432,488,000	393,298,000	262,807,000	330,172,000	159,522,000	310,201,000	241,028,000	165,955,000	145,925,000	270,250,000	179,569,000	197,929,000	190,424,000	418,448,000	254,974,000	315,677,000	211,350,000
repayment on mortgage warehouse																						-680,615,000	-729,771,000	-632,926,000	-446,555,000	-326,116,000	-286,214,000	-309,828,000	-230,761,000	-234,305,000	-236,389,000	-157,659,000	-223,225,000	-212,720,000	-181,427,000	-203,925,000	-319,842,000	-311,050,000	-281,907,000	-289,574,000	-302,798,000
proceeds from stock option exercises														2,273,000	1,512,000	556,000	2,356,000	5,119,000	5,778,000	6,114,000	6,320,000	1,702,000	2,506,000	823,000	4,548,000	492,000	10,841,000	1,866,000	39,000	0	299,000	1,008,000	580,000	444,000	57,000	4,323,000	411,000
payment of principle portion of finance lease																	-1,332,000	-20,000	0	0	-1,325,000	0	0	0	-1,325,000
payment of taxes related to net share settlement of equity awards														-1,675,000	0	-24,000	-3,621,000	74,000	-11,000	-195,000	-5,288,000	-574,000	-1,402,000	-177,000	-7,075,000	-74,000	-8,000	-10,000	-1,493,000	-74,000	-7,000	-9,000	-1,482,000	0	-18,000	-7,000	-282,000
payment to acquire non-controlling interests
net increase in cash and cash equivalents																						-14,951,000	-127,843,000	165,471,000	182,860,000					-51,514,000	61,952,000	32,133,000	-286,215,000	309,326,000	18,089,000	-54,071,000	347,000	139,660,000	28,640,000	-9,245,000	14,936,000			-253,991,000	-62,668,000	180,677,000	-19,293,000	-132,179,000	43,819,000	33,766,000	-65,732,000	183,149,000	-62,604,000
supplemental cash flow information:
issuance of common stock in connection with business acquisition																						0	-893,000	-68,421,000	867,284,000
land held for sale write-downs																							0	0	4,347,000
investments in equity securities
net non-cash distributions from non-controlling interests
common stock surrendered in connection with warrant exercises																			0
common stock issued in connection with warrant exercises																			0
equity in income of unconsolidated entities																	-1,831,000	-1,861,000	-1,482,000	-2,126,000	-5,661,000	-2,298,000	-2,957,000	-3,495,000	-2,426,000	-1,526,000	-2,103,000	-3,561,000	-2,319,000	-3,555,000	-2,514,000	-4,017,000	-3,246,000	-1,903,000	-2,787,000	-3,071,000	-1,085,000	-2,719,000	-1,647,000	-2,305,000	-782,000	-351,000	119,000	-1,224,000	-303,000	-4,238,000	-11,756,000	-8,112,000	-2,629,000	-16,515,000
income tax (payments)/refund																	-228,000
chicago assets held for sale valuation adjustments
accounts payable, estimated development liability, and accrued expenses and other liabilities
(distributions)/contributions (to) from non-controlling interests of consolidated joint ventures
change in operating lease right of use assets due to adoption of asu 2016-02
change in operating lease right of use liabilities due to adoption of asu 2016-02
proceeds from the issuance of senior notes																										0	456,091,000															0	0			0	0	0	350,000,000
net non-cash (distributions)/contributions from non-controlling interests																			-1,035,000	-1,035,000	-990,000
repayments on mortgage warehouse																				-767,463,000	-643,854,000
changes and distributions to non-controlling interests of consolidated joint ventures																									10,171,000		1,165,000
income tax payments/(refund)
changes and (distributions to)/contributions to non-controlling interests of consolidated joint ventures																					-6,971,000		-2,287,000
income tax refund																					4,592,000
debt issuance costs/premium amortization																									-406,000	848,000	506,000	-110,000	-71,000
realized loss on foreign currency translation
contingent consideration																														0	0	0	146,000	-30,000	153,000	390,000	223,000	318,000	1,171,000	1,252,000	1,097,000	-3,716,000	1,211,000	5,029,000	1,676,000
payment of contingent consideration																														0	0	0	-265,000					0	0	-2,716,000	-384,000	0	0	0	-3,050,000
repayment of convertible notes
proceeds from issuance of shares from public offerings																														-1,000
tmhc repurchase and cancellation of new tmm units from former principal equityholders																														0
repurchase of shares from former principal equityholders																														0
(distributions)/contributions to non-controlling interests of consolidated joint ventures
change in prepaid expenses and other assets, net due to adoption of asu 2014-09																															0	0	-32,004,000
change in property and equipment, net due to adoption of asu 2014-09																															0	0	32,004,000
net non-cash distributions from unconsolidated entities
net non-cash contributions from non-controlling interests																							-592,000	-321,000	6,697,000
beginning operating lease right of use assets due to adoption of asu 2016-02																											0	0	27,384,000
beginning operating lease right of use liabilities due to adoption of asu 2016-02																											0	0	30,331,000
income taxes refund/(paid)
income taxes refund																									325,000
contributions to (distributions to) non-controlling interests of consolidated joint ventures																														-1,066,000
net decrease in cash and cash equivalents																											25,569,000	24,421,000	-158,053,000
changes to non-controlling interests of consolidated joint ventures																													888,000
proceeds from issuance of shares from secondary offerings																																0	767,116,000	229,500,000	0	464,200,000	418,106,000
tmhc repurchase and cancellation of new tmm units from principal equityholders																																0	-201,775,000
repurchase of shares from principal equityholders																																-158,000	-767,967,000
net income from discontinued operations																																											0	0	-56,662,000
gain on foreign currency forward																																										0	0	0	-29,983,000
payments for business acquisitions																																						0	0	0	-52,819,000	-4,901,000
distribution from unconsolidated entities																																					403,000	2,541,000	1,890,000				0			-25,000	2,000	621,000	1,130,000	5,531,000	1,205,000
proceeds from sale of discontinued operations																																										0	0	0	268,853,000
proceeds from settlement of foreign currency forward																																										0
repurchase of shares from principal equity holders																																		-229,856,000	-100,000	-465,367,000	-418,936,000
effect of exchange rate changes on cash and cash equivalents																																										0	-564,000	17,000	-19,944,000	-5,904,000	-7,983,000	7,432,000	-6,707,000	-13,628,000	5,105,000	-9,158,000	-3,963,000
original accrual of contingent consideration for business combinations																																						0
distributions to (contributions from) non-controlling interests of consolidated joint ventures
change in restricted cash																																						-313,000	-20,000
cash and cash equivalents — beginning of period																																						0	0	0	126,188,000	0	0	0	462,205,000	0	0	0	389,181,000	0	0	35,000	300,567,000
cash and cash equivalents — end of period																																						139,660,000	28,640,000	-9,245,000	141,124,000	-32,091,000	12,733,000	-253,991,000	399,537,000	180,677,000	-19,293,000	-132,179,000	433,000,000	33,766,000	-65,732,000	183,184,000	237,963,000
contributions from (distributions to) non-controlling interests of consolidated joint ventures
accrual of contingent consideration																																								0	380,000	0	0
decrease in restricted cash																																										0	-625,000	0	655,000	-518,000	4,518,000	499,000	6,244,000	-6,647,000
proceeds from loans payable and other borrowings																																									23,659,000	18,828,000				9,470,000	4,116,000	26,545,000	1,859,000	11,606,000	18,465,000	7,782,000	7,436,000
net income																																												20,022,000	96,844,000	104,531,000	66,175,000					-78,286,000	24,337,000
net gain from sale of discontinued operations
distributions from unconsolidated entities
net proceeds from the issuance of class a common stock																																																		0	0
purchase of new tmm units and corresponding number of shares of class b common stock																																																		-3,239,000	0
borrowings on line of credit related to mortgage borrowings																																												196,174,000	158,638,000	310,217,000	146,857,000	112,456,000	89,178,000	193,705,000	196,645,000	174,566,000	138,620,000
repayment on line of credit related to mortgage borrowing																																																	-112,151,000	-150,630,000	-203,876,000	-172,869,000	-181,629,000
intercompany borrowings																																																		1,431,000
equity (distributions) contributions
increase in loans payable issued to sellers in connection with land purchase contracts																																										4,527,000	40,497,000	-7,154,000	-21,400,000			9,884,000	-25,019,000				40,941,000
borrowings on lines of credit related to mortgage borrowings
repayment on lines of credit related to mortgage borrowings
deferred financing costs																																											0					-12,061,000	5,806,000	5,417,000	0
decrease in income taxes payable and related tax indemnification receivable from seller																																															-151,000	267,000	51,000
business acquisitions
repayment on line of credit related to mortgage borrowings																																												-179,934,000	-264,143,000
distributions to non-controlling interests – joint ventures																																															-296,000	-357,000	-87,000
non-cash portion of loss on debt exinguishment
receivables, prepaid expenses and other assets																																													67,888,000	-88,045,000	-7,959,000	-14,486,000	-26,146,000
distributions to non-controlling interests — joint ventures																																													-272,000
decrease in income taxes payable
business acquisitions, net of cash acquired
conversion of sponsor loans payable to additional class a units
conversion of joint venture loans receivable for equity in joint venture
loans payable and liabilities assumed related to business acquisition
repayments on line of credit related to mortgage borrowings																																															-147,566,000
increase in loans payable issued to sellers in connection with land purchase contracts.
income before non-controlling interests, net of tax																																																	41,296,000
borrowings on net payable to predecessor parent company
payments on net payable to predecessor parent company
decrease in receivable to predecessor parent company capital contributions
net proceeds from the issuance of senior notes																																																		0	0
repayments of sponsor loan
conversion of loans payable to predecessor parent company to contributions from predecessor parent company
conversion of joint venture loans receiveable for equity in joint venture
decrease in loans payable issued to sellers in connection with land purchase contracts
income before noncontrolling interests, net of tax
receivables, prepaid expenses, and other assets																																																			-33,804,000	10,641,000	30,739,000
accounts payable, accrued expenses, and other liabilities																																																			39,688,000	29,167,000	-39,082,000
distributions to noncontrolling interests – joint ventures																																																			-158,000
equity contributions
equity in net income of unconsolidated entities																																																				-8,466,000	-3,158,000
increase in restricted cash
decrease (increase) in restricted cash																																																					254,000
distributions to noncontrolling interests
income taxes (paid) refunded																																																					-10,781,000
supplemental noncash investing and financing activities:
conversion of joint venture loan receivable for equity in joint venture
increase in income taxes payable and related tax indemnification receivable from seller																																																					-1,593,000

Taylor Morrison Home Corporation(NYSE:TMHC)

Taylor Morrison Home Corporation
(NYSE:TMHC)