HORTON D R INC /DE/ DHI Cash Flow

Horton d r inc /de/ (DHI)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09
OPERATING ACTIVITIES
Net income
483,900	432,500	503,900	473,600	354,400	286,700	468,900	453,700	350,900	188,800	313,300	289,000	229,200	206,900	283,700	249,800	195,100	157,700	238,900	221,400	147,900	142,500	166,200	113,200	130,900	123,200	139,500	145,900	111,000	66,300	100,100	787,900	40,600	27,700	35,800	28,600	27,800	-20,400	-8,800	50,500	11,400	192,000
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
19,800	19,000	19,600	18,300	17,200	16,900	15,800	13,500	16,900	16,200	14,300	13,100	12,900	14,400	19,600	13,800	14,000	13,600	14,400	14,300	13,100	12,300	11,800	9,900	8,900	7,800	6,700	5,900	5,300	4,800	4,400	4,600	4,800	5,000	5,000	5,000	5,000	4,900	4,800	4,300	4,400	4,900
Amortization of discounts and fees
2,700	3,100	2,800	3,000	2,500	2,600	3,600	3,900	1,200	1,200	1,100	1,300	1,300	1,300	1,300	1,300	1,400	1,400	1,500	1,400	1,400	1,300	2,000	4,600	10,500	10,300	10,000	9,800	9,500	10,400	10,500	10,200	9,900	9,800	9,600	9,500	9,100	9,000	8,600	8,100	7,200	6,900
Stock-based compensation expense
21,300	16,600	19,300	18,000	17,800	18,100	9,500	15,300	17,400	13,600	18,800	14,300	16,800	9,300	12,200	12,500	13,900	10,400	10,500	9,300	11,000	11,400	8,600	6,800	5,400	5,400	5,900	5,500	4,100	3,500	3,800	4,200	5,100	5,000	4,300	3,300	3,200	3,400	3,600	3,200	3,300	3,200
Equity in earnings of unconsolidated entities
400	500	0	0	-100	600	-300	400	400	2,300	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions of earnings of unconsolidated entities
0	0	0	0	0	500	1,800	0	0	200	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess income tax benefit from employee stock awards
-	-	-	-	-	-	-	-	-	-	3,800	1,800	8,200	500	3,700	2,400	1,700	2,200	5,000	600	5,500	1,200	-1,000	-300	1,000	900	6,700	0	0	0	-	-	-	-	-	-	-	-	-100	0	0	2,900
Deferred income taxes
-2,800	-7,200	-8,400	900	-8,700	-3,900	-10,600	-15,300	-18,700	-126,300	-18,800	-67,900	-15,800	-8,300	-28,600	-17,100	-16,200	-13,400	17,600	-3,300	-5,100	-12,300	-13,600	12,900	-8,600	-8,100	-51,400	-40,800	-3,500	-35,200	1,426,200	-716,700	0	0	-	-	-	-	-	-	-	-
Inventory and land option charges
9,000	3,800	13,000	19,200	13,800	8,000	7,600	9,000	30,100	3,700	20,300	5,400	12,200	2,300	15,400	8,100	5,900	2,000	26,300	15,400	12,600	6,000	21,300	56,800	4,500	2,600	27,100	800	1,900	1,300	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
28,400	31,100	0	22,600	29,300	2,000	4,300	0	1,100	13,400	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on early retirement of debt, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	100	-100	-6,500	-2,700	-1,500	1,800	-8,300	0	1,600
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	200	0	0	200	0	-	-	-	-	-	-	-	-
Gain on sale of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	100	-	-	-	-
Inventory impairments and land option cost write-offs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500	800	1,400	-	9,900	14,300	8,400	30,800	30,300	2,400	1,200
Changes in operating assets and liabilities:
Increase in construction in progress and finished homes
389,600	334,800	-477,600	-362,200	254,900	500,300	-107,800	76,100	212,200	302,300	-286,500	267,400	357,200	246,300	-382,900	226,300	362,500	290,300	-315,200	-123,500	196,100	179,500	158,800	423,000	142,400	194,000	123,200	258,600	206,700	226,800	70,600	132,600	81,900	-9,700	-56,800	99,900	115,200	-66,900	-129,400	-217,700	256,300	-65,200
Increase in residential land and lots – developed, under development, held for development and held for sale
-48,900	373,100	70,200	160,600	9,700	435,900	214,000	88,300	86,300	185,200	10,100	255,900	-56,300	152,600	161,600	84,600	-227,500	-8,400	31,900	49,500	-39,600	110,800	185,800	101,000	149,500	77,300	189,100	329,400	104,300	612,800	163,300	94,900	72,700	40,100	17,800	-39,300	-40,900	45,500	47,100	47,200	-73,300	-9,800
Increase in other assets
155,100	-2,000	23,500	98,200	5,900	34,000	76,000	39,000	-100	-4,300	34,200	-400	25,000	4,900	11,700	41,200	-6,400	-30,200	26,600	-7,900	8,200	2,900	27,400	4,000	-14,300	-25,900	-25,400	32,900	-3,000	-22,800	30,800	6,900	4,600	-6,100	6,600	7,700	-38,200	-8,800	12,800	5,100	-30,500	10,100
(Increase) decrease in income taxes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-14,400	1,500	0	500	0	-1,600	0	-300	-1,700	-16,600	3,200	-352,300	88,600
Net increase in mortgage loans held for sale
354,300	-46,900	117,100	158,500	174,200	-174,200	116,400	21,700	119,800	-49,100	-41,400	49,300	30,200	-105,700	8,900	18,400	91,700	-106,600	62,600	50,800	63,800	-23,100	57,700	76,700	42,700	-95,300	36,900	-36,100	86,400	-37,400	50,200	-2,200	21,400	-18,200	7,900	79,700	18,000	-65,300	-62,300	79,000	72,400	-56,100
Increase in accounts payable, accrued expenses and other liabilities
58,100	94,600	-22,400	88,900	-29,100	88,800	23,500	120,100	-39,300	24,800	-40,500	138,100	-36,500	27,900	-29,700	132,000	8,400	-52,700	38,900	61,800	3,100	-43,500	117,500	118,100	-105,600	-14,100	-3,100	80,100	75,300	-12,800	70,700	44,900	42,400	-44,400	500	31,000	-78,900	-54,400	-63,400	-28,600	51,700	-16,100
Net cash used in operating activities
-281,300	-113,800	811,400	542,400	-88,600	-373,100	238,700	405,300	-23,800	-75,000	625,900	-44,900	-112,600	-28,200	535,300	61,700	28,400	-1,500	511,800	357,400	-39,800	-129,000	-87,700	-307,900	-258,100	-7,700	-93,000	-296,000	-183,800	-656,500	-118,200	-94,600	-77,700	-1,700	94,200	-54,200	-70,600	49,500	122,300	159,300	207,800	220,000
INVESTING ACTIVITIES
Expenditures for property and equipment
26,000	21,600	21,900	35,500	49,600	20,200	14,100	14,500	14,200	25,300	-800	46,000	35,300	22,200	12,900	24,800	20,300	20,100	12,800	19,300	12,700	11,300	50,300	17,100	14,500	18,300	17,400	15,300	11,300	14,000	9,800	18,300	3,100	2,400	3,500	4,600	4,500	3,700	3,600	7,900	5,200	2,500
Proceeds from sale of assets
67,000	62,800	0	60,000	73,400	10,400	31,800	7,700	228,600	24,800	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expenditures related to rental properties
53,400	59,600	40,600	28,000	16,900	11,400	14,100	16,600	20,400	19,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,100	26,800	52,100	25,900	138,400	24,400	40,400	73,800	62,600	123,300	-	-	-	-
Proceeds from the sale or maturity of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	98,700	226,700	36,000	39,300	136,000	21,500	37,800	67,000	65,400	122,300	-	-	-	-
Increase (Decrease) in Restricted Cash
-	-	-	-	-	-	-	-	-	-	-	1,000	2,900	6,000	-2,300	400	1,700	0	-1,000	1,300	800	-400	-10,100	-59,700	-1,300	3,300	9,200	14,100	-300	5,500	7,800	800	-3,900	-4,500	-1,300	5,400	-1,200	-7,500	-5,100	8,500	-2,800	-2,100
Investment in unconsolidated entities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return of investment in unconsolidated entities
500	1,900	0	0	0	4,400	2,100	300	200	14,900	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net principal increase of other mortgage loans and real estate owned
0	600	300	400	1,000	600	400	800	100	-100	-900	-4,300	0	-1,000	-15,400	-4,700	-1,700	2,100	2,600	1,400	1,900	3,000	2,800	1,100	500	1,200	1,500	1,000	-200	200	1,500	0	1,600	1,600	-	-	-	-	-	-	-	-
Proceeds from (purchases of) debt securities collateralized by residential real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	18,600	0	0	0	0	-	-	-	-	-	-	-	-
Payments related to business acquisitions
4,900	700	4,900	1,300	16,600	293,000	1,100	0	1,700	156,400	0	0	0	4,100	82,200	0	0	0	-	-	-	-	21,400	188,200	0	34,500	0	0	0	9,400	96,500	0	0	0	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-16,800	-17,800	-67,700	-5,200	-10,700	-310,400	11,500	-23,900	192,400	-161,000	-43,000	-47,600	-42,100	-31,300	-85,400	-20,500	15,500	-22,200	39,400	-105,500	-15,400	-13,900	-64,400	-146,700	-13,700	-57,300	-28,100	-29,000	85,800	152,200	-131,700	-5,700	-3,200	-2,400	-8,800	-16,800	-500	2,800	600	-116,700	-201,500	-400
FINANCING ACTIVITIES
Proceeds from notes payable
1,095,600	495,700	0	713,200	1,236,700	578,300	-800	250,700	799,700	1,113,900	135,000	700,000	0	0	-	-	-	-	29,900	210,500	860,300	490,000	741,300	189,300	497,000	0	415,900	-26,000	818,000	100,000	388,300	330,300	17,800	29,500	-	-	-	-	-	-	-	-
Repayment of notes payable
918,900	0	150,000	1,005,100	1,254,900	276,100	2,200	427,000	926,700	825,800	140,900	996,900	54,200	300	900	373,300	89,600	81,000	22,700	335,200	647,400	450,900	523,000	110,300	107,800	55,800	3,000	171,700	152,000	18,400	3,000	1,600	300	12,600	182,800	149,900	57,600	129,000	131,100	353,200	301,900	233,700
Advances on mortgage repurchase facility, net
336,200	-38,600	92,400	105,800	216,800	-163,800	111,400	36,500	102,400	-32,600	-	-	-	-54,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock associated with certain employee benefit plans
8,800	4,100	15,900	4,500	13,700	8,600	11,200	3,500	18,100	14,600	12,400	9,600	21,900	2,800	10,600	33,400	11,400	17,000	37,800	3,000	16,400	4,600	2,100	13,500	26,300	3,300	1,800	10,200	15,600	2,100	20,600	8,700	17,000	4,600	700	1,500	700	500	3,000	600	2,000	2,000
Excess income tax benefit from employee stock awards
-	-	-	-	-	-	-	-	-	-	3,800	1,800	8,200	500	3,700	2,400	1,700	2,200	5,000	600	5,500	1,200	-1,000	-300	1,000	900	6,700	0	0	0	-	-	-	-	-	-	-	-	-100	0	0	2,900
Cash paid for shares withheld for taxes
20,800	17,300	200	0	15,400	4,100	0	0	0	10,300	-	-	-	5,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
64,100	64,600	55,500	56,000	55,900	56,000	47,100	47,200	47,100	47,000	37,400	37,500	37,400	37,300	29,800	29,700	29,600	29,600	23,000	22,900	22,900	22,800	22,800	13,700	12,100	0	0	0	0	60,200	12,000	12,000	11,900	11,900	11,900	11,900	12,000	12,000	11,900	12,000	11,900	11,900
Repurchases of common stock
197,300	163,100	118,300	145,300	75,600	140,600	52,600	27,000	22,500	25,400	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests, net
0	-400	0	-200	-3,200	-500	-1,000	-200	-300	-1,700	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from (Payments for) Other Financing Activities
0	-2,300	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
239,500	213,500	-115,000	-383,100	62,200	-54,200	18,900	-210,700	-76,400	185,700	-80,500	-388,300	-2,400	-93,400	-53,500	-358,500	-88,500	-91,400	27,000	-144,000	211,900	22,100	196,600	78,500	404,400	-51,600	421,400	-187,500	681,600	23,500	393,900	325,400	22,600	9,600	-193,800	-169,100	-68,900	-140,500	-206,100	-289,700	-302,900	-240,700
Net increase (decrease) in cash, cash equivalents and restricted cash
-58,600	81,900	628,700	154,100	-37,100	-737,700	269,100	170,700	92,200	-50,300	502,400	-480,800	-157,100	-152,900	396,400	-317,300	-44,600	-115,100	578,200	107,900	156,700	-120,800	44,500	-376,100	132,600	-116,600	300,300	-512,500	583,600	-480,800	144,000	225,100	-58,300	5,500	-108,400	-240,100	-140,000	-88,200	-83,200	-247,100	-296,600	-21,100
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
Notes payable issued for inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,300	0	2,900	1,600	0	2,600	5,500	0	0	0	0	0	0	0	11,400	0	0	4,100	0	-	-	-	-	-	-	-	-
Stock issued under employee incentive plans
52,500	31,800	500	100	39,600	9,400	300	300	49,500	13,900	100	100	24,600	7,100	200	200	11,600	8,100	0	0	0	8,300	0	0	0	5,500	0	0	0	3,900	0	0	0	3,100	-	-	-	-	-	-	-	-
Accrued expenditures for property and equipment
900	7,700	-	-	-4,300	15,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrual for holdback payment related to acquisition
-5,600	9,500	-4,900	-1,300	-11,400	27,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-