NVR, Inc. NVR Cash Flow

Nvr, inc. (NVR)

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
Finance Lease, Principal Payments
200	190	104	12	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from operating activities:
Net income
175,703	256,137	223,787	210,209	188,406	232,158	195,816	203,174	166,049	124,619	162,102	147,877	102,923	150,891	117,392	91,676	65,303	134,004	116,470	93,395	39,058	99,451	90,152	68,178	23,849	97,811	82,935	50,690	35,041	60,627	53,000	46,838	20,123	32,392	43,409	38,445	15,174	58,698	43,944	71,276	32,087
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
5,622	5,449	5,223	5,084	5,062	5,115	5,029	4,988	5,036	5,580	5,593	5,795	5,699	5,678	5,657	5,487	5,447	5,352	5,441	5,460	5,281	5,031	4,657	4,216	3,710	4,016	3,527	3,076	2,772	2,278	2,092	1,925	1,805	1,724	1,712	1,638	1,598	1,715	1,820	1,847	1,881
Excess income tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,566	1,901	7,998	2,651	736	354	5,696	-3,175	84	628	23,099	8,632	978	3,833	876	1,563	-119	3,580	17,811	1,899	3,097	26,651	31,911
Equity-based compensation expense
7,492	19,852	20,770	18,577	19,333	24,011	23,586	18,595	9,509	11,884	11,211	10,878	10,589	11,139	11,081	10,829	10,549	14,217	13,571	12,904	13,399	18,353	18,233	15,938	10,703	3,911	11,733	10,589	8,063	14,705	16,963	16,733	16,440	16,507	16,261	16,125	15,580	12,386	19,924	15,148	5,678
Contract land deposit and other impairments, net
36,336	-224	-433	-565	542	2,449	9,267	259	-215	-2,158	-171	1,850	1,717	-2,842	9	-133	-1,303	-1,133	-4,178	-5,780	33	3,883	-453	-5,638	1,983	-9,903	603	4,999	-1,012	2,246	917	-123	-1,037	4,445	2,727	2,721	1,348	4,915	298	973	-1,922
Gain on sale of loans, net
18,400	32,952	27,771	32,962	34,957	30,146	33,718	27,571	31,320	25,760	25,898	24,243	23,231	26,149	22,699	19,665	17,022	19,648	20,912	16,093	11,238	15,170	12,116	12,510	7,995	12,577	15,792	12,586	15,573	13,668	11,782	10,453	11,116	8,745	7,022	9,735	9,130	12,453	10,794	13,049	9,929
Mortgage loans closed
1,133,283	1,419,855	1,375,819	1,232,028	1,141,720	1,356,270	1,249,043	1,213,627	1,009,675	1,216,469	1,088,471	987,504	784,928	1,117,610	983,884	870,414	688,361	947,941	852,456	765,691	545,325	755,194	704,433	593,448	416,801	634,539	641,228	597,281	434,748	592,785	542,984	495,983	384,332	480,746	457,001	480,956	335,952	565,083	471,273	674,833	398,316
Mortgage loans sold and principal payments on mortgage loans held for sale
1,228,025	1,374,912	1,457,278	1,223,512	1,204,898	1,257,917	1,358,188	1,184,356	1,045,538	1,148,981	1,097,121	980,471	955,647	1,076,711	989,154	805,088	839,297	906,168	880,308	666,481	606,932	764,296	688,513	558,739	514,158	585,677	690,006	553,102	509,916	545,576	578,172	471,165	530,526	426,840	456,547	413,684	419,895	565,295	550,979	531,936	363,555
Principal payments on mortgage loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	282	154	1,458	944	1,266	744	1,317	996	1,228	161	169
Distribution of earnings from unconsolidated joint ventures
0	100	1,220	1,548	608	733	1,014	1,466	1,383	1,252	893	255	2,388	1,990	1,891	2,614	3,521	2,442	3,130	4,093	5,846	3,641	72	1,014	3,704	-	-	-	-	1,152	2,275	154	651	352	338	537	1,120	-	-	-	-
Net change in assets and liabilities:
Increase in inventory
168,352	-149,161	98,721	116,559	28,059	-167,960	-12,545	89,223	98,193	-130,360	11,608	132,517	140,334	-224,630	69,116	-13,931	254,639	-154,951	75,917	129,625	84,212	-144,728	59,955	109,773	102,729	-178,815	-24,865	96,689	159,852	-64,757	-1,820	64,692	99,635	-48,888	44,857	42,135	61,423	-131,495	138,295	-79,208	81,191
Decrease in contract land deposits
-8,259	8,777	-5,337	19,857	-6,303	24,276	15,920	-580	-8,753	3,129	6,566	-9,448	-8,424	-494	2,434	27,987	2,353	23,574	12,562	947	478	14,980	29,318	5,932	7,336	17,635	10,195	11,538	666	12,711	18,461	15,409	7,361	8,805	1,095	15,170	17,315	14,696	19,914	8,732	10,524
Increase in receivables
33,190	-11,235	-1,116	-2,408	12,005	-6,020	-3,389	5,832	4,585	384	-1,710	2,341	-667	5,866	-4,493	3,384	4,022	1,539	-6,960	7,171	-223	-1,222	-3,794	5,268	281	-3,649	-1,686	380	5,215	-1,447	260	3,793	-788	-374	-578	588	-101	-3,431	-4,270	6,418	-249
(Decrease) increase in accounts payable and accrued expenses
-39,438	5,931	-4,776	11,619	21,152	-31,914	12,533	13,703	-25,035	-4,320	18,122	34,537	-37,550	-1,204	24,379	36,739	-1,382	-23,531	12,414	98,503	-31,982	-22,164	-11,748	71,197	-37,225	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in customer deposits
15,275	-	-	-	4,388	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) increase in customer deposits
-	-	-	-	-	-29,430	-4,357	4,547	17,453	-12,252	-3,399	17,331	26,117	-22,461	2,951	15,194	15,587	-21,107	-6,311	12,418	19,210	-12,668	-8,897	9,219	18,079	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-15,608	11,251	2,876	205	-6,096	6,070	4,036	-3,993	-6,670	15,214	-3,201	8,109	-19,866	5,174	10,991	-7,410	-10,615	16,092	-5,401	-4,852	-10,352	12,808	-2,546	-20,724	9,943	-13,449	1,376	2,693	6,881	-3,201	3,048	-338	8,611	6,103	4,238	-5,944	-3,501	26,075	-3,584	-13,238	11,391
Increase in accounts payable, accrued expenses and customer deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	93,558	13,161	-	28,051	38,532	32,015	-43,975	11,898	56,136	-27,036	-32,436	-1,967	67,753	23,402
Net cash provided by operating activities
68,441	357,099	206,817	74,764	227,855	231,311	322,365	91,422	78,028	234,708	157,438	69,946	108,262	290,551	89,865	52,565	-39,993	211,120	55,991	-38,806	-1,603	226,410	-24,781	-1,294	-15,786	182,057	178,679	-12,421	-78,093	85,934	106,059	-18,447	90,838	6,044	20,642	-16,190	-9,033	140,987	-19,293	51,857	-118,163
Cash flows from investing activities:
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	50,000	100,000
Redemption of marketable securities at maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,000	150,000	0	194,535
Investments in and advances to unconsolidated joint ventures
0	367	0	0	335	0	0	284	0	3,345	0	0	455	0	332	183	138	365	307	382	863	-	-	-	-	11,850	0	0	11,000	-	-	-	-	-	-	-	-	0	0	1,000	1,000
Distribution of capital from unconsolidated joint ventures
0	10	1,070	3,910	3,257	2,642	1,846	3,545	2,482	364	2,427	3,076	2,162	2,510	2,159	2,986	4,017	4,558	3,370	4,407	6,154	2,859	428	2,986	5,296	647	4,011	1,791	333	-1,054	1,325	1,972	2,449	1,148	2,162	2,963	4,380	-	-	-	-
Purchase of property, plant and equipment
3,510	5,959	6,041	5,414	5,285	4,847	5,567	6,138	3,113	4,599	5,886	4,623	5,161	5,856	4,740	6,342	5,431	4,809	4,883	3,692	4,893	4,348	6,519	15,372	5,433	4,947	5,981	4,633	3,455	1,998	4,368	3,104	2,895	2,770	1,196	6,466	1,012	2,635	1,387	2,040	881
Proceeds from the sale of property, plant and equipment
252	353	448	585	484	515	317	230	195	183	192	295	177	299	255	247	199	207	138	200	138	395	263	221	142	226	124	141	116	-34	90	108	155	124	94	137	170	149	241	150	115
Net cash used in investing activities
-3,258	-5,963	-4,523	-919	-1,879	-1,690	-3,404	-2,647	-436	-7,397	-3,267	-1,252	-3,277	-3,047	-2,658	-3,292	-1,353	-409	-1,682	533	536	-1,094	-5,828	-12,165	5	-15,924	-1,846	-2,701	-14,006	-17,343	-2,953	-2,024	-291	-1,498	1,060	-64,966	3,538	23,707	148,854	-52,890	92,769
Cash flows from financing activities:
Purchase of treasury stock
216,582	332,875	61,063	87,980	216,499	188,765	173,831	126,296	357,242	191,967	70,693	73,959	85,547	163,608	195,235	9,407	87,101	167,921	194,161	6,186	63,099	158,108	61,988	314,870	32,578	-	-	-	-	-	-	-	-	22,674	365,743	237,477	63,408	-	-	-	-
Net repayments under note payable and credit lines
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	64	-2,704	597	895	1,327	-	-	-	-	196	1,225	-139	-426	53	91,167	14,284	-15,028	-9,047	20,112	22,675	43,839
Repayments under non-recourse debt related to consolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-174	1,207	1,093	2,188	920	1,271	1,534	2,841	1,813	2,361	2,515	1,269	-	-	-	-
Borrowings under non-recourse debt related to consolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,629	1,086	236	206	1,111	1,511	1,463	1,264	-	-	-	-
Distributions to partner in consolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-67	67	0	150	0	0	0	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess income tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,566	1,901	7,998	2,651	736	354	5,696	-3,175	84	628	23,099	8,632	978	3,833	876	1,563	-119	3,580	17,811	1,899	3,097	26,651	31,911
Proceeds from the exercise of stock options
109,062	26,673	68,524	79,857	98,974	58,842	29,174	45,290	40,804	10,280	12,279	42,701	75,265	4,168	6,029	5,646	22,263	9,529	25,163	7,630	43,626	10,514	5,046	3,533	57,060	6,393	893	1,259	5,412	24,358	6,671	36,179	6,003	992	1,415	11,922	92,670	20,499	5,456	9,751	41,786
Net cash used in financing activities
-107,720	-306,392	7,357	-8,135	-117,525	-129,923	-144,891	-81,006	-316,438	-181,687	-58,414	-31,258	-10,282	-159,373	-189,273	-3,761	-64,988	-172,857	-164,432	3,345	-11,839	-146,190	-56,803	-312,159	28,851	-114,077	-141,060	-294,185	26,323	6,368	382,179	38,575	3,818	-20,874	-454,976	-208,743	32,040	-26,787	-164,600	-250,377	117,536
Net (decrease) increase in cash, restricted cash, and cash equivalents
-42,537	44,744	209,651	65,710	108,451	99,698	174,070	7,769	-238,846	45,624	95,757	37,436	94,703	128,131	-102,066	45,512	-106,334	37,854	-110,123	-34,928	-12,906	79,126	-87,412	-325,618	13,070	52,056	35,773	-309,307	-65,776	74,959	485,285	18,104	94,365	-16,328	-433,274	-289,899	26,545	137,907	-35,039	-251,410	92,142
Supplemental disclosures of cash flow information:
Interest paid during the period, net of interest capitalized
12,174	413	11,988	142	11,910	112	11,915	174	11,977	139	11,819	-243	11,536	23	11,333	-1,271	10,837	233	12,092	182	12,039	212	12,086	139	12,027	203	12,066	215	12,392	336	118	269	318	421	523	543	513	651	627	3,940	587
Income taxes paid during the period, net of refunds
2,438	44,799	37,630	69,170	2,316	55,404	39,493	82,936	3,333	90,283	70,579	92,291	7,079	70,867	58,039	73,562	16,516	70,829	71,060	38,323	14,458	60,068	58,644	34,467	28,661	58,015	40,168	11,799	3,242	23,550	21,013	15,417	-376	27,030	8,700	3,398	10,635	23,245	7,714	1,024	8,686
Investment in newly formed consolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50,428	-1,438	0	-23,776