M/i homes, inc. (MHO)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Income (Loss) Attributable to Parent

141,610

127,587

118,214

109,658

107,323

107,663

91,138

84,183

73,261

72,081

76,761

65,376

64,303

56,609

49,322

53,950

51,384

51,763

49,474

47,521

47,725

50,789

54,064

165,758

159,468

151,423

142,177

25,180

21,120

13,347

5,356

-7,676

-20,024

-33,877

0

0

0

Adjustments to reconcile net income to net cash used in operating activities:
Impairment of inventory and abandoned land transaction write-offs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,805

5,473

4,646

4,142

3,368

6,646

7,124

10,935

21,938

0

0

0

Excess tax benefit from stock-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Equity in loss (income) from joint venture arrangements

484

311

162

154

-119

312

609

636

832

539

425

378

350

640

663

675

607

498

533

519

483

347

90

346

368

306

0

0

0

-

-

-

-

-

-

-

0

Mortgage loan originations

1,477,445

1,382,695

1,331,096

1,251,661

1,216,193

1,200,474

1,174,333

1,129,490

1,096,655

1,078,520

1,047,372

1,033,923

1,009,998

969,690

925,506

878,901

833,739

807,986

744,458

732,692

704,341

677,418

671,218

644,943

630,627

627,509

592,269

565,629

544,697

520,708

474,499

428,064

402,353

376,132

0

0

0

Proceeds from the sale of mortgage loans

1,443,743

1,394,841

1,318,811

1,237,181

1,208,865

1,206,167

1,150,414

1,114,079

1,099,116

1,064,635

1,050,606

1,040,930

990,764

939,080

907,219

856,004

818,892

773,189

745,287

721,263

681,672

669,625

653,303

634,656

632,368

614,726

590,076

560,736

532,349

505,368

452,940

415,028

390,626

365,234

0

0

0

Fair value adjustment of mortgage loans held for sale

2,841

-2,261

848

6,099

1,725

3,764

-717

-2,033

-523

3,675

-324

-1,386

-76

-3,591

-292

2,419

411

-590

1,396

-1,148

761

3,191

-1,320

3,004

-230

-2,094

-143

-3,181

28

-1,494

113

1,018

436

3,065

0

0

0

Servicing Asset at Fair Value, Period Increase (Decrease)

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalization of originated mortgage servicing rights

5,188

4,684

4,267

5,448

4,287

4,550

4,781

280

5,096

5,005

-6,046

-6,294

-6,155

-5,569

-4,165

-4,045

-3,981

-4,726

-3,266

-3,732

-3,193

-4,009

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of mortgage servicing rights

1,811

1,547

1,316

1,058

787

784

860

906

918

1,069

1,179

1,447

1,761

1,652

1,543

1,209

1,088

1,010

956

965

1,036

775

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

11,885

11,691

11,547

11,376

11,227

10,956

10,616

10,300

9,919

9,630

9,302

9,011

8,800

8,552

8,117

7,620

7,136

6,612

6,265

5,924

5,558

5,175

4,929

4,799

4,782

4,973

5,995

6,916

7,120

7,158

6,235

5,405

5,217

5,114

0

0

0

Amortization of debt discount and debt issue costs

2,661

2,712

2,710

2,700

2,685

2,791

2,953

3,206

3,403

3,475

3,482

3,413

3,405

3,402

3,468

3,413

3,360

3,306

3,182

3,158

3,132

3,121

3,112

3,142

3,303

3,338

3,317

3,159

2,818

2,584

2,416

2,367

2,398

2,460

0

0

0

Gain on sale of mortgage servicing rights

-

-

-

-

-

1,224

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt, including transaction costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

5,907

5,846

6,289

5,838

5,847

5,974

5,781

6,208

6,055

6,044

5,866

5,755

5,427

5,315

4,352

4,090

3,990

3,942

3,784

3,399

3,373

3,215

3,013

2,822

2,535

2,344

2,171

2,086

1,819

1,734

1,739

1,788

1,817

1,866

0

0

0

Deferred income tax expense

-3,607

-3,851

-4,938

-4,935

-4,957

-4,957

-12,644

-12,550

-12,346

-12,437

50,916

44,346

35,880

31,311

35,084

32,052

33,195

32,526

19,641

23,076

25,150

25,790

7,417

441

8,735

15,547

-7,835

9,395

8,004

5,076

28,328

23,405

18,368

12,950

0

0

0

Deferred tax asset valuation allowance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,291

14,913

131,287

129,997

126,458

122,191

9,395

8,004

5,076

2,428

-2,495

-7,532

-12,950

0

0

0

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Change in assets and liabilities:
Cash held in escrow

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

93

101

-112

37

-60

39

179

125

-2,881

-6,871

-9,330

-3,155

0

0

0

Inventory

72,699

88,358

92,367

109,737

148,191

157,573

177,241

160,140

183,983

168,622

199,925

183,090

109,023

83,775

52,377

97,702

146,339

159,011

216,323

194,867

218,250

209,318

210,205

201,059

166,391

156,708

145,280

104,582

72,816

73,874

53,632

57,508

53,413

33,014

0

0

0

Other assets

24,829

2,072

-4,539

-6,450

-11,498

-2,044

11,396

6,249

7,067

186

-7,484

4,561

10,978

13,643

14,015

6,930

5,901

6,296

9,349

9,077

8,049

5,286

12,358

7,935

12,261

10,219

6,873

11,838

5,697

8,460

3,693

2,097

1,570

-1,291

0

0

0

Accounts payable

17,321

-6,485

21,107

12,580

14,088

3,750

17,295

17,891

13,916

14,021

10,419

7,403

12,809

16,334

12,516

13,313

10,429

9,827

-1,923

3,318

-1,924

5,112

12,069

25,437

14,306

22,536

20,456

10,581

14,926

5,358

18,430

7,040

8,103

11,503

0

0

0

Customer deposits

8,763

2,407

-4,198

-3,462

-988

1,521

5,709

7,699

6,488

4,222

4,144

2,240

3,213

2,589

3,113

4,627

3,765

3,458

4,774

3,419

2,368

497

-716

-453

738

1,023

3,942

4,964

3,721

5,867

5,408

5,343

4,212

1,118

0

0

0

Accrued compensation

1,827

3,944

2,056

467

1,105

3,486

1,480

286

43

2,338

1,585

2,004

-849

4,853

804

2,682

1,117

1,861

-587

-214

503

1,182

4,739

3,408

2,678

9,753

6,521

4,206

1,962

6,421

2,247

-383

650

-123

0

0

0

Other liabilities

1,884

-11,005

9,106

993

4,263

9,403

672

4,470

-481

6,384

7,634

19,501

24,396

30,234

13,337

13,709

4,589

4,673

10,467

8,151

7,414

7,618

8,622

7,322

9,075

11,975

2,839

7,400

3,509

4,302

2,927

-2,204

-1,110

-2,458

0

0

0

Net Cash Provided by (Used in) Operating Activities

64,037

65,631

73,504

28,950

7,189

-2,592

-62,278

-34,789

-62,323

-53,184

-58,330

-46,062

9,507

34,197

39,333

4,784

-51,674

-82,365

-120,989

-112,045

-159,677

-132,504

-140,249

-115,465

-84,635

-73,974

-71,110

-48,644

-30,762

-46,995

-25,716

-48,971

-44,263

-33,961

0

0

0

Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-7,001

-2,503

2,169

5,185

6,886

-154

-4,418

-32,779

-34,357

-49,438

-23,605

2,566

0

0

0

Purchase of property and equipment

4,517

4,526

4,901

5,125

8,471

8,141

8,648

11,542

7,936

8,799

7,504

3,949

3,393

13,106

13,275

13,287

14,254

3,659

2,602

2,670

2,657

2,946

3,075

3,009

2,553

2,382

1,729

1,731

1,115

933

1,321

895

1,067

1,352

0

0

0

Return of capital from joint venture arrangements

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition, net of cash acquired

-

-

-

-

-

100,960

100,960

100,960

100,763

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in joint venture arrangements

30,605

30,188

34,902

42,827

36,018

31,867

24,136

10,602

10,781

12,088

-23,367

-21,721

-21,395

-21,746

-18,827

-16,590

-16,653

-18,162

14,322

11,141

10,878

20,415

20,831

61,281

52,235

29,509

28,262

-15,908

-10,396

1,817

-197

-265

870

752

0

0

0

Net proceeds from sale of mortgage servicing rights

-

-

-

-

-

6,335

6,989

6,989

7,151

8,212

7,558

7,558

7,396

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss from property disposals

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by (used in) investing activities

-27,639

-27,594

-39,365

-47,802

-44,010

-133,957

-124,394

-112,999

-108,811

-9,157

-15,031

-13,877

-14,887

-31,645

-57,111

-54,263

-54,187

-41,480

-14,252

-14,524

-11,669

-19,703

-14,151

-21,554

-31,731

-35,554

-33,457

-21,119

-14,712

25,322

27,276

42,954

17,014

-9,324

0

0

0

Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of senior notes due 2021

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from issuance of senior notes

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible senior subordinated notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Net proceeds from issuance of common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

54,617

54,617

96,702

96,702

42,085

0

0

0

-

-

-

-

Proceeds from bank borrowings - homebuilding operations

672,700

696,500

715,600

687,200

651,200

666,600

551,700

462,800

469,800

398,300

441,200

448,700

359,400

351,500

364,700

388,800

441,000

417,300

522,000

413,300

323,000

192,600

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal repayments of bank borrowings - homebuilding operations

884,600

747,900

748,400

694,700

594,700

549,200

329,000

419,000

418,400

438,600

-183,800

-329,300

-347,000

-355,000

35,400

-92,400

-249,700

-403,500

-365,900

-307,700

-233,000

-162,600

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net repayment of bank borrowings - financial services operations

41,029

-16,264

4,568

10,840

1,315

-15,027

12,751

3,645

-4,226

15,300

-208

-3,148

19,751

29,247

18,244

22,985

15,463

38,269

-14,939

7,767

20,191

5,350

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of bank borrowings - net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

23,182

14,210

15,556

20,409

0

0

0

Proceeds from (principal repayments of) notes payable-other and CDD bond obligations

1,608

-110

-3,329

-4,269

-4,073

-4,638

4,781

5,699

2,989

4,161

-4,509

-4,889

-1,783

-2,026

-797

322

-71

-1,077

833

513

1,119

1,728

404

-1,712

-2,559

-3,315

-2,643

-1,337

4,435

5,304

4,912

4,965

108

-52

0

0

0

Redemption of preferred shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-50,352

50,352

-50,352

50,352

0

0

0

0

-

-

-

-

Dividends paid on preferred shares

-

-

-

-

-

-

-

-

2,437

3,656

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-4,875

-2,438

1

-2,437

-3,656

0

0

0

-

-

-

-

-

-

-

-

Payments for repurchase of common stock

1,912

5,150

19,774

30,859

30,859

25,709

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issue costs

6,368

203

0

0

0

-

-

-

-

-

-

-

-

-240

-6,045

-5,665

-5,719

-5,818

0

0

0

-

-

-

-

5,501

17,187

5,176

444

5,881

-5,843

-2,900

2,113

220

0

0

0

Proceeds from exercise of stock options

20,398

19,644

14,460

3,389

2,540

538

6,860

6,859

11,155

11,225

4,900

4,901

605

182

73

768

1,047

1,035

1,519

824

639

1,944

1,460

1,461

4,006

2,640

6,187

6,661

4,395

4,762

1,215

807

451

1,500

0

0

0

Excess tax deficiency from stock-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

233

0

0

0

Net cash (used in) provided by financing activities

-57,145

-53,483

-37,048

-28,572

25,175

6,375

119,396

185,665

185,813

179,603

153,689

59,879

9,957

18,788

9,080

50,755

103,273

114,460

136,177

107,748

104,993

32,066

29,093

4,410

-57,331

92,755

87,277

191,718

241,553

107,378

111,376

5,414

13,866

21,870

0

0

0

Cash and Cash Equivalents, Period Increase (Decrease)

-20,747

-15,446

-2,909

-47,424

-11,646

-130,174

-67,276

37,877

14,679

117,262

80,328

-60

4,577

21,340

-8,698

1,276

-2,588

-9,385

936

-18,821

-66,353

-120,141

-125,307

-132,609

-173,697

-16,773

-17,290

121,955

196,079

85,705

112,936

-603

-13,383

-21,415

0

0

0

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest — net of amount capitalized

17,003

18,962

18,994

18,735

18,348

17,793

16,615

12,430

13,570

10,168

13,064

16,130

16,847

6,597

18,387

6,325

15,566

15,173

12,361

11,188

9,799

9,730

9,931

10,837

12,737

11,834

12,618

12,084

12,952

13,083

13,990

13,537

13,348

12,756

0

0

0

Income taxes

37,039

36,993

34,073

28,660

25,519

25,279

26,884

29,208

36,852

36,802

27,900

18,240

1,892

2,271

2,687

2,831

2,662

2,308

3,529

3,114

1,718

2,386

637

868

1,457

765

680

516

274

281

-374

-379

-394

-372

0

0

0

NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure

1,186

1,139

-1,773

-923

-771

-657

10,803

5,914

6,222

12,573

4,747

5,153

5,445

-542

-608

-774

-1,482

-1,553

-1,897

-388

254

-559

-363

-1,986

-2,206

-1,504

0

0

0

-

-

-

-

-1,129

0

0

0

Consolidated inventory not owned

-1,636

-11,374

-15,210

-1,685

-2,279

-2,237

-306

2,531

6,231

14,017

16,341

7,094

7,047

1,521

-5,556

-8,946

4,622

5,399

9,718

12,847

-1,328

-1,167

124

-613

-15,367

-17,330

-4,976

-4,159

14,407

16,161

1,952

5,025

2,119

2,476

0

0

0

Distribution of single-family lots from joint venture arrangements

30,346

27,700

11,622

15,217

16,553

16,158

20,797

17,246

10,247

16,600

19,057

23,147

20,715

28,130

23,688

19,380

22,808

8,236

20,391

22,915

24,189

25,689

13,646

10,042

4,852

4,800

1,912

1,366

1,303

0

0

0

0

-

-

-

-

Common stock issued for conversion of convertible notes

-

-

-

-

-

20,309

20,309

77,809

77,809

57,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-