NVR, Inc. NVR Cash Flow

Nvr, inc. (NVR)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Finance Lease, Principal Payments
306	0	0	-	-	-	-	-	-	-	-	-
Cash flows from operating activities:
Net income
878,539	797,197	537,521	425,262	382,927	281,630	266,477	180,588	129,420	206,005	192,180	100,892
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
20,818	20,168	22,667	22,269	21,534	17,614	13,391	8,100	6,672	7,263	9,713	13,641
Excess income tax benefit from equity-based compensation
-	-	-	-	-	9,437	20,636	14,319	22,835	63,558	66,448	50,240
Equity-based compensation expense
78,532	75,701	44,562	43,598	54,091	63,227	34,296	64,841	64,473	53,136	46,302	41,204
Contract land deposit and other impairments, net
-680	11,760	1,238	-4,269	-11,058	-225	-5,313	2,003	11,241	4,264	-6,464	165,024
Gain on sale of loans, net
128,642	122,755	99,132	85,535	67,891	47,791	56,528	47,019	34,632	46,225	46,960	38,921
Loss (gain) on sale of fixed assets
-	-	-	-	-	-	-	-	217	167	358	-472
Gain on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	251
Impairment of goodwill and intangible assets
-	-	-	-	-	-	-	-	-	-	-	11,686
Deferred tax (benefit) expense
-4,070	914	61,290	-10,024	1,902	-4,176	-16,848	11,843	23,732	13,558	21,905	-12,048
Mortgage loans closed
5,169,422	4,828,615	4,077,372	3,660,269	3,111,413	2,469,876	2,307,796	2,016,084	1,754,655	2,109,505	1,943,074	2,046,575
Mortgage loans sold and principal payments on mortgage loans held for sale
5,260,600	4,845,999	4,182,220	3,710,250	3,059,889	2,525,706	2,338,701	2,125,439	1,716,966	2,011,765	2,018,151	2,115,607
Principal payments on mortgage loans held for sale
-	-	-	-	-	-	-	-	4,271	2,554	2,072	4,321
Distribution of earnings from unconsolidated joint ventures
3,476	4,596	4,788	10,016	15,511	8,431	5,676	4,232	2,347	1,307	-	-
Net change in assets and liabilities:
Increase in inventory
94,178	6,911	154,099	85,194	134,803	127,729	52,861	97,750	99,527	8,783	18,148	-288,284
Decrease in contract land deposits
16,994	30,863	-8,177	32,280	37,561	57,566	40,034	53,942	42,385	53,866	14,848	-29
Increase in receivables
-2,754	1,008	348	8,779	1,527	533	260	1,818	-465	-1,532	-3,682	1,016
(Decrease) increase in accounts payable and accrued expenses
33,926	-30,713	10,789	58,532	55,404	60	113,121	71,932	-	-	-	-
(Decrease) increase in customer deposits
-6,360	-11,787	27,797	11,271	4,210	5,733	1,335	38,464	-	-	-	-
Other, net
8,236	-557	256	-1,860	-4,513	-519	-2,499	8,120	896	20,644	38,641	-27,363
Increase in accounts payable, accrued expenses and customer deposits
-	-	-	-	-	-	-	-	-2,977	56,752	82,578	-157,111
Net cash provided by operating activities
866,535	723,126	570,354	392,988	226,702	184,549	270,222	264,384	1,463	55,388	241,642	462,361
Cash flows from investing activities:
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	150,000	858,362	-
Redemption of marketable securities at maturity
-	-	-	-	-	-	-	-	-	369,535	638,827	-
Investments in and advances to unconsolidated joint ventures
702	284	3,800	653	1,917	-	22,850	1,000	61,600	2,000	-	-
Distribution of capital from unconsolidated joint ventures
8,247	10,515	8,029	11,672	18,489	11,569	6,782	4,692	10,653	1,193	-	-
Purchase of property, plant and equipment
22,699	19,665	20,269	22,369	18,277	31,672	19,016	12,365	11,444	6,943	3,044	6,899
Proceeds from the sale of property, plant and equipment
1,870	1,257	847	1,000	683	1,021	607	319	525	655	962	1,401
Acquisition, net of cash acquired
-	-	-	-	-	-	-	14,257	-	-	-	-
Net cash used in investing activities
-13,284	-8,177	-15,193	-10,350	-1,022	-19,082	-34,477	-22,611	-61,866	212,440	-221,617	-5,498
Cash flows from financing activities:
Purchase of treasury stock
698,417	846,134	422,166	455,351	431,367	567,544	554,491	227,281	689,302	417,079	-	-
Net repayments under note payable and credit lines
-	-	-	-	-	115	642	856	90,476	77,579	-32,559	-39,214
Repayments under non-recourse debt related to consolidated variable interest entity
-	-	-	-	64	3,301	4,314	6,566	7,958	4,167	-	-
Borrowings under non-recourse debt related to consolidated variable interest entity
-	-	-	-	-	-	3,105	6,157	5,349	11,759	-	-
Purchase of NVR common stock for deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	128
Repayments on loans assumed in acquisition
-	-	-	-	-	-	-	21,910	-	-	-	-
Distributions to partner in consolidated variable interest entity
0	234	0	150	300	931	1,250	-	0	-	-	-
Excess income tax benefit from equity-based compensation
-	-	-	-	-	9,437	20,636	14,319	22,835	63,558	66,448	50,240
Proceeds from issuance of Senior Notes due 2022
-	-	-	-	-	-	-	598,962	0	-	-	-
Debt issuance costs for Senior Notes due 2022
-	-	-	-	-	-	-	5,096	0	-	-	-
Redemption of Senior Notes due 2010
-	-	-	-	-	-	-	-	-	133,370	29,950	36,405
Proceeds from the exercise of stock options
274,028	174,110	140,525	38,106	85,948	76,153	13,957	73,211	106,999	77,492	78,543	52,078
Net cash used in financing activities
-424,695	-672,258	-281,641	-417,395	-345,783	-486,301	-522,999	430,940	-652,553	-324,228	82,482	26,571
Net (decrease) increase in cash, restricted cash, and cash equivalents
428,556	42,691	273,520	-34,757	-120,103	-320,834	-287,254	672,713	-712,956	-56,400	102,507	483,434
Supplemental disclosures of cash flow information:
Interest paid during the period, net of interest capitalized
24,453	24,178	23,251	20,922	24,546	24,464	24,876	1,041	2,000	5,805	10,010	12,656
Income taxes paid during the period, net of refunds
153,915	181,166	260,232	218,984	194,670	181,840	113,224	59,604	49,763	40,669	-28,807	65,128
Increase in assets in connection with acquisition
-	-	-	-	-	-	-	55,759	0	-	-	-
Increase in liabilities in connection with acquisition
-	-	-	-	-	-	-	41,502	0	-	-	-
Investment in newly formed consolidated joint venture
-	-	-	-	-	-	-	-	-	25,214	-	-
Change in net consolidated variable interest entities
-	-	-	-	-	-	-	-	-	-	-976	-10,346