| Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||||
Net income | |||||||||||
1,618,600 | 1,462,300 | 1,038,400 | 886,300 | 750,700 | 533,500 | 462,700 | 956,300 | 71,800 | 245,100 | -549,800 | -2,633,600 |
Adjustments to reconcile net income to net cash used in operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
72,000 | 62,400 | 54,700 | 61,000 | 54,100 | 38,400 | 22,700 | 18,800 | 19,900 | 18,400 | 25,700 | 53,200 |
Amortization of discounts and fees | |||||||||||
10,900 | 9,900 | 5,000 | 5,400 | 5,600 | 27,400 | 39,700 | 40,400 | 37,200 | 30,800 | 10,900 | 7,200 |
Stock-based compensation expense | |||||||||||
73,200 | 55,800 | 59,200 | 49,000 | 42,200 | 26,200 | 19,000 | 18,100 | 14,200 | 13,300 | 13,700 | 13,500 |
Equity in earnings of unconsolidated entities | |||||||||||
500 | 2,800 | 0 | 0 | - | - | - | - | - | - | - | - |
Distributions of earnings of unconsolidated entities | |||||||||||
500 | 2,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Excess income tax benefit from employee stock awards | |||||||||||
0 | 0 | 14,300 | 10,000 | 12,300 | 600 | 6,700 | 0 | 0 | 2,800 | - | - |
Deferred income taxes | |||||||||||
-20,100 | -170,900 | -110,800 | -75,300 | -3,100 | -17,400 | -130,900 | 709,500 | 0 | 0 | 213,500 | 650,300 |
Inventory and land option charges | |||||||||||
54,000 | 50,400 | 40,200 | 31,400 | 60,300 | 85,200 | 31,100 | 6,200 | 45,400 | - | - | - |
Gain on sale of assets | |||||||||||
53,900 | 18,800 | 0 | 4,500 | - | - | - | - | - | - | - | - |
(Gain) loss on early retirement of debt, net | |||||||||||
- | - | - | - | - | - | - | 100 | -10,800 | -4,900 | 3,900 | -2,600 |
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | |||||||||||
- | - | - | - | - | - | 200 | 200 | 100 | 0 | - | - |
Gain on sale of debt securities collateralized by residential real estate | |||||||||||
- | - | - | - | 0 | 0 | - | - | - | - | - | - |
Inventory impairments and land option cost write-offs | |||||||||||
- | - | - | - | - | - | - | - | - | 64,700 | 407,700 | 2,484,500 |
Goodwill impairment | |||||||||||
- | - | - | 7,200 | 9,800 | 0 | 0 | - | - | - | - | 79,400 |
Changes in operating assets and liabilities: | |||||||||||
Increase in construction in progress and finished homes | |||||||||||
-84,600 | 482,800 | 584,400 | 496,200 | -63,100 | 918,200 | 815,300 | 275,400 | 91,400 | -156,000 | -180,000 | -1,304,600 |
Increase in residential land and lots – developed, under development, held for development and held for sale | |||||||||||
676,400 | 573,800 | 362,300 | 10,300 | 152,600 | 513,600 | 1,235,600 | 371,000 | -16,900 | 11,200 | -397,000 | -835,100 |
Increase in other assets | |||||||||||
161,600 | 110,600 | 63,700 | 16,300 | 29,800 | -8,800 | -18,300 | 36,200 | -32,700 | -2,500 | -34,100 | 248,800 |
(Increase) decrease in income taxes receivable | |||||||||||
- | - | - | - | - | - | -14,400 | 2,000 | -3,600 | -277,100 | -383,100 | 676,200 |
Net increase in mortgage loans held for sale | |||||||||||
275,600 | 208,800 | -67,600 | 12,400 | 154,100 | 81,800 | 49,800 | 51,200 | 40,300 | 33,000 | -131,300 | -171,400 |
Increase in accounts payable, accrued expenses and other liabilities | |||||||||||
126,200 | 129,100 | 89,000 | 58,000 | 60,300 | 115,900 | 139,500 | 113,600 | -101,800 | -56,400 | -102,100 | -166,700 |
Net cash used in operating activities | |||||||||||
892,100 | 545,200 | 440,200 | 623,900 | 700,400 | -661,400 | -1,229,300 | -292,200 | 18,900 | 709,400 | 1,141,200 | 1,876,500 |
INVESTING ACTIVITIES | |||||||||||
Expenditures for property and equipment | |||||||||||
127,200 | 68,100 | 102,700 | 78,100 | 56,100 | 100,200 | 58,000 | 33,600 | 16,300 | 19,200 | 6,200 | 6,600 |
Proceeds from sale of assets | |||||||||||
143,800 | 292,900 | 0 | 0 | 56,000 | 0 | 0 | - | - | - | - | - |
Expenditures related to rental properties | |||||||||||
96,900 | 70,200 | 54,600 | 8,000 | - | - | - | - | - | - | - | - |
Purchases of marketable securities | |||||||||||
- | - | - | - | - | - | 28,900 | 240,800 | 300,100 | 328,000 | - | - |
Proceeds from the sale or maturity of marketable securities | |||||||||||
- | - | - | - | - | - | 325,400 | 232,800 | 292,500 | 27,700 | - | - |
Increase (Decrease) in Restricted Cash | |||||||||||
- | - | - | -200 | 700 | -67,800 | 28,500 | 200 | -4,600 | -1,500 | 53,200 | -3,400 |
Return of investment in unconsolidated entities | |||||||||||
4,400 | 17,500 | 0 | 0 | - | - | - | - | - | - | - | - |
Net principal increase of other mortgage loans and real estate owned | |||||||||||
2,300 | 1,200 | -6,200 | -19,700 | 8,900 | 5,600 | 2,500 | 4,700 | 4,000 | - | - | - |
Proceeds from (purchases of) debt securities collateralized by residential real estate | |||||||||||
0 | -7,300 | 8,800 | -35,800 | 14,800 | 0 | 18,600 | 0 | 0 | - | - | - |
Principal payments received on debt securities collateralized by residential real estate | |||||||||||
- | - | - | - | - | - | 1,400 | 0 | 0 | - | - | - |
Payments related to business acquisitions | |||||||||||
315,800 | 159,200 | 4,100 | 82,200 | 70,900 | 244,100 | 9,400 | 96,500 | 0 | 0 | - | - |
Net cash (used in) provided by investing activities | |||||||||||
-394,000 | 19,000 | -164,000 | -112,600 | -95,400 | -282,100 | 180,900 | -143,000 | -23,300 | -318,000 | -59,400 | -3,200 |
FINANCING ACTIVITIES | |||||||||||
Proceeds from notes payable | |||||||||||
2,528,200 | 2,163,500 | 835,000 | 0 | 1,590,700 | 1,427,600 | 1,307,900 | 765,900 | 30,000 | 17,800 | 487,500 | 321,500 |
Repayment of notes payable | |||||||||||
2,686,100 | 2,181,700 | 1,192,300 | 544,800 | 1,456,200 | 796,900 | 345,100 | 17,500 | 519,300 | 1,019,900 | 956,200 | 944,600 |
Advances on mortgage repurchase facility, net | |||||||||||
251,200 | 217,700 | -53,000 | -4,900 | - | - | - | - | - | - | - | - |
Proceeds from stock associated with certain employee benefit plans | |||||||||||
42,700 | 47,400 | 46,700 | 72,400 | 61,800 | 45,200 | 29,700 | 50,900 | 3,400 | 7,600 | 4,400 | 9,500 |
Excess income tax benefit from employee stock awards | |||||||||||
0 | 0 | 14,300 | 10,000 | 12,300 | 600 | 6,700 | 0 | 0 | 2,800 | - | - |
Cash paid for shares withheld for taxes | |||||||||||
19,700 | 10,300 | 5,100 | 5,900 | - | - | - | - | - | - | - | - |
Cash dividends paid | |||||||||||
223,400 | 188,400 | 149,600 | 118,700 | 91,600 | 48,600 | 60,200 | 47,800 | 47,800 | 47,700 | 47,500 | 142,000 |
Repurchases of common stock | |||||||||||
479,800 | 127,500 | 60,600 | - | 0 | - | - | - | 38,600 | 0 | - | - |
Distributions to noncontrolling interests, net | |||||||||||
-3,900 | -3,200 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from Issuance of Common Stock | |||||||||||
100,700 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Net cash (used in) provided by financing activities | |||||||||||
-490,100 | -82,500 | -564,600 | -591,900 | 117,000 | 627,900 | 939,000 | 751,500 | -572,300 | -1,039,400 | -511,800 | -755,600 |
Net increase (decrease) in cash, cash equivalents and restricted cash | |||||||||||
8,000 | 481,700 | -288,400 | -80,600 | 722,000 | -315,600 | -109,400 | 316,300 | -576,700 | -648,000 | 570,000 | 1,117,700 |
Interest paid, net of amounts capitalized | |||||||||||
- | - | - | - | - | - | 5,600 | 19,500 | 66,300 | 101,800 | 103,300 | 49,800 |
Income taxes paid (refunded), net | |||||||||||
488,000 | 387,200 | 446,400 | 389,900 | 334,000 | 279,800 | 34,800 | 6,100 | -1,900 | -485,400 | -603,900 | 23,000 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES: | |||||||||||
Notes payable issued for inventory | |||||||||||
83,600 | 0 | 4,500 | 4,200 | 9,700 | 0 | 11,400 | 4,100 | 1,900 | 2,800 | - | - |
Stock issued under employee incentive plans | |||||||||||
49,600 | 64,000 | 31,900 | 20,100 | 8,300 | 5,500 | 3,900 | 3,100 | 4,600 | 0 | - | - |
Accrued expenditures for property and equipment | |||||||||||
14,100 | 10,700 | 16,300 | 4,300 | 0 | - | - | - | - | - | - | - |
Accrual for holdback payment related to acquisition | |||||||||||
10,100 | 0 | 0 | 9,700 | 0 | 0 | - | 9,400 | 0 | - | - | - |
Conversion of 2% convertible senior notes into equity | |||||||||||
- | - | - | - | - | 498,600 | 0 | 0 | - | - | - | - |
Notes payable assumed to purchase land investment | |||||||||||
- | - | - | - | - | 18,600 | 0 | 0 | - | - | - | - |
Note receivable related to sale of land | |||||||||||
- | - | - | - | - | 5,000 | 0 | 0 | - | - | - | - |