NVR, Inc. NVR Cash Flow

Nvr, inc. (NVR)

CashFlow / TTM

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
506	306	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from operating activities:
Net income
865,836	878,539	854,560	826,589	819,554	797,197	689,658	655,944	600,647	537,521	563,793	519,083	462,882	425,262	408,375	407,453	409,172	382,927	348,374	322,056	296,839	281,630	279,990	272,773	255,285	266,477	229,293	199,358	195,506	180,588	152,353	142,762	134,369	129,420	155,726	156,261	189,092	206,005	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
21,378	20,818	20,484	20,290	20,194	20,168	20,633	21,197	22,004	22,667	22,765	22,829	22,521	22,269	21,943	21,727	21,700	21,534	21,213	20,429	19,185	17,614	16,599	15,469	14,329	13,391	11,653	10,218	9,067	8,100	7,546	7,166	6,879	6,672	6,663	6,771	6,980	7,263	0	0	0
Excess income tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,116	13,286	11,739	9,437	3,611	2,959	3,233	20,636	32,443	33,337	36,542	14,319	7,250	6,153	5,900	22,835	23,171	26,387	49,458	63,558	0	0	0
Equity-based compensation expense
66,691	78,532	82,691	85,507	85,525	75,701	63,574	51,199	43,482	44,562	43,817	43,687	43,638	43,598	46,676	49,166	51,241	54,091	58,227	62,889	65,923	63,227	48,785	42,285	36,936	34,296	45,090	50,320	56,464	64,841	66,643	65,941	65,333	64,473	60,352	64,015	63,038	53,136	0	0	0
Contract land deposit and other impairments, net
35,114	-680	1,993	11,693	12,517	11,760	7,153	-2,285	-694	1,238	554	734	-1,249	-4,269	-2,560	-6,747	-12,394	-11,058	-6,042	-2,317	-2,175	-225	-14,011	-12,955	-2,318	-5,313	6,836	7,150	2,028	2,003	4,202	6,012	8,856	11,241	11,711	9,282	7,534	4,264	0	0	0
Gain on sale of loans, net
112,085	128,642	125,836	131,783	126,392	122,755	118,369	110,549	107,221	99,132	99,521	96,322	91,744	85,535	79,034	77,247	73,675	67,891	63,413	54,617	51,034	47,791	45,198	48,874	48,950	56,528	57,619	53,609	51,476	47,019	42,096	37,336	36,618	34,632	38,340	42,112	45,426	46,225	0	0	0
Mortgage loans closed
5,160,985	5,169,422	5,105,837	4,979,061	4,960,660	4,828,615	4,688,814	4,528,242	4,302,119	4,077,372	3,978,513	3,873,926	3,756,836	3,660,269	3,490,600	3,359,172	3,254,449	3,111,413	2,918,666	2,770,643	2,598,400	2,469,876	2,349,221	2,286,016	2,289,849	2,307,796	2,266,042	2,167,798	2,066,500	2,016,084	1,904,045	1,818,062	1,803,035	1,754,655	1,838,992	1,853,264	2,047,141	2,109,505	0	0	0
Mortgage loans sold and principal payments on mortgage loans held for sale
5,283,727	5,260,600	5,143,605	5,044,515	5,005,359	4,845,999	4,737,063	4,475,996	4,272,111	4,182,220	4,109,950	4,001,983	3,826,600	3,710,250	3,539,707	3,430,861	3,292,254	3,059,889	2,918,017	2,726,222	2,618,480	2,525,706	2,347,087	2,348,580	2,342,943	2,338,701	2,298,600	2,186,766	2,104,829	2,125,439	2,006,703	1,885,078	1,827,597	1,716,966	1,855,421	1,949,853	2,068,105	2,011,765	0	0	0
Principal payments on mortgage loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,838	3,822	4,412	4,271	4,323	4,285	3,702	2,554	0	0	0
Distribution of earnings from unconsolidated joint ventures
2,868	3,476	4,109	3,903	3,821	4,596	5,115	4,994	3,783	4,788	5,526	6,524	8,883	10,016	10,468	11,707	13,186	15,511	16,710	13,652	10,573	8,431	0	0	0	-	-	-	-	4,232	3,432	1,495	1,878	2,347	0	0	0	-	-	-	-
Net change in assets and liabilities:
Increase in inventory
234,471	94,178	75,379	-35,887	-63,223	6,911	44,511	68,664	111,958	154,099	59,829	117,337	-29,111	85,194	154,873	161,674	305,230	134,803	145,026	129,064	109,212	127,729	93,642	8,822	-4,262	52,861	166,919	189,964	157,967	97,750	113,619	160,296	137,739	99,527	16,920	110,358	-10,985	8,783	0	0	0
Decrease in contract land deposits
15,038	16,994	32,493	53,750	33,313	30,863	9,716	362	-8,506	-8,177	-11,800	-15,932	21,503	32,280	56,348	66,476	39,436	37,561	28,967	45,723	50,708	57,566	60,221	41,098	46,704	40,034	35,110	43,376	47,247	53,942	50,036	32,670	32,431	42,385	48,276	67,095	60,657	53,866	0	0	0
Increase in receivables
18,431	-2,754	2,461	188	8,428	1,008	7,412	9,091	5,600	348	5,830	3,047	4,090	8,779	4,452	1,985	5,772	1,527	-1,234	1,932	29	533	-1,894	214	-4,674	260	2,462	4,408	7,821	1,818	2,891	2,053	-1,152	-465	-3,522	-7,214	-1,384	-1,532	0	0	0
(Decrease) increase in accounts payable and accrued expenses
-26,664	33,926	-3,919	13,390	15,474	-30,713	-3,119	2,470	23,304	10,789	13,905	20,162	22,364	58,532	36,205	24,240	86,004	55,404	56,771	32,609	5,303	60	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in customer deposits
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) increase in customer deposits
-	-	-	-	-	-11,787	5,391	6,349	19,133	27,797	17,588	23,938	21,801	11,271	12,625	3,363	587	4,210	12,649	10,063	6,864	5,733	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-1,276	8,236	3,055	4,215	17	-557	8,587	1,350	13,452	256	-9,784	4,408	-11,111	-1,860	9,058	-7,334	-4,776	-4,513	-7,797	-4,942	-20,814	-519	-26,776	-22,854	563	-2,499	7,749	9,421	6,390	8,120	17,424	18,614	13,008	896	20,868	13,046	5,752	20,644	0	0	0
Increase in accounts payable, accrued expenses and customer deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	54,623	38,470	56,074	-2,977	8,562	-5,303	6,314	56,752	0	0	0
Net cash provided by operating activities
707,121	866,535	740,747	856,295	872,953	723,126	726,523	561,596	540,120	570,354	626,197	558,624	541,243	392,988	313,557	279,683	188,312	226,702	241,992	161,220	198,732	184,549	140,196	343,656	332,529	270,222	174,099	101,479	95,453	264,384	184,494	99,077	101,334	1,463	136,406	96,471	164,518	55,388	0	0	0
Cash flows from investing activities:
Purchase of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	150,000	0	0	0
Redemption of marketable securities at maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	369,535	0	0	0
Investments in and advances to unconsolidated joint ventures
367	702	335	335	619	284	3,629	3,629	3,345	3,800	455	787	970	653	1,018	993	1,192	1,917	0	0	0	-	-	-	-	22,850	0	0	0	-	-	-	-	-	-	-	-	2,000	0	0	0
Distribution of capital from unconsolidated joint ventures
4,990	8,247	10,879	11,655	11,290	10,515	8,237	8,818	8,349	8,029	10,175	9,907	9,817	11,672	13,720	14,931	16,352	18,489	16,790	13,848	12,427	11,569	9,357	12,940	11,745	6,782	5,081	2,395	2,576	4,692	6,894	7,731	8,722	10,653	0	0	0	-	-	-	-
Purchase of property, plant and equipment
20,924	22,699	21,587	21,113	21,837	19,665	19,417	19,736	18,221	20,269	21,526	20,380	22,099	22,369	21,322	21,465	18,815	18,277	17,816	19,452	31,132	31,672	32,271	31,733	20,994	19,016	16,067	14,454	12,925	12,365	13,137	9,965	13,327	11,444	11,309	11,500	7,074	6,943	0	0	0
Proceeds from the sale of property, plant and equipment
1,638	1,870	2,032	1,901	1,546	1,257	925	800	865	847	963	1,026	978	1,000	908	791	744	683	871	996	1,017	1,021	852	713	633	607	347	313	280	319	477	481	510	525	550	697	710	655	0	0	0
Net cash used in investing activities
-14,663	-13,284	-9,011	-7,892	-9,620	-8,177	-13,884	-13,747	-12,352	-15,193	-10,843	-10,234	-12,274	-10,350	-7,712	-6,736	-2,911	-1,022	-1,707	-5,853	-18,551	-19,082	-33,912	-29,930	-20,466	-34,477	-35,896	-37,003	-36,326	-22,611	-6,766	-2,753	-65,695	-61,866	-36,661	111,133	123,209	212,440	0	0	0
Cash flows from financing activities:
Purchase of treasury stock
698,500	698,417	554,307	667,075	705,391	846,134	849,336	746,198	693,861	422,166	393,807	518,349	453,797	455,351	459,664	458,590	455,369	431,367	421,554	289,381	598,065	567,544	0	0	0	-	-	-	-	-	-	-	-	689,302	0	0	0	-	-	-	-
Net repayments under note payable and credit lines
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,640	-2,043	-1,148	115	0	0	0	-	-	-	-	856	713	90,655	105,078	90,476	81,376	10,321	18,712	77,579	0	0	0
Repayments under non-recourse debt related to consolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,314	5,408	5,472	5,913	6,566	7,459	8,549	9,530	7,958	0	0	0	-	-	-	-
Borrowings under non-recourse debt related to consolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,157	2,639	3,064	4,291	5,349	0	0	0	-	-	-	-
Distributions to partner in consolidated variable interest entity
-	-	-	-	-	-	-	-	-	-	-	-	-	150	217	150	150	300	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess income tax benefit from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,116	13,286	11,739	9,437	3,611	2,959	3,233	20,636	32,443	33,337	36,542	14,319	7,250	6,153	5,900	22,835	23,171	26,387	49,458	63,558	0	0	0
Proceeds from the exercise of stock options
284,116	274,028	306,197	266,847	232,280	174,110	125,548	108,653	106,064	140,525	134,413	128,163	91,108	38,106	43,467	62,601	64,585	85,948	86,933	66,816	62,719	76,153	72,032	67,879	65,605	13,957	31,922	37,700	72,620	73,211	49,845	44,589	20,332	106,999	126,506	130,547	128,376	77,492	0	0	0
Net cash used in financing activities
-414,890	-424,695	-248,226	-400,474	-473,345	-672,258	-724,022	-637,545	-587,797	-281,641	-259,327	-390,186	-362,689	-417,395	-430,879	-406,038	-398,932	-345,783	-319,116	-211,487	-526,991	-486,301	-454,188	-538,445	-520,471	-522,999	-402,554	120,685	453,445	430,940	403,698	-433,457	-680,775	-652,553	-658,466	-368,090	-409,724	-324,228	0	0	0
Net (decrease) increase in cash, restricted cash, and cash equivalents
277,568	428,556	483,510	447,929	389,988	42,691	-11,383	-89,696	-60,029	273,520	356,027	158,204	166,280	-34,757	-125,034	-133,091	-213,531	-120,103	-78,831	-56,120	-346,810	-320,834	-347,904	-224,719	-208,408	-287,254	-264,351	185,161	512,572	672,713	581,426	-337,133	-645,136	-712,956	-558,721	-160,486	-121,997	-56,400	0	0	0
Supplemental disclosures of cash flow information:
Interest paid during the period, net of interest capitalized
24,717	24,453	24,152	24,079	24,111	24,178	24,205	24,109	23,692	23,251	23,135	22,649	21,621	20,922	21,132	21,891	23,344	24,546	24,525	24,519	24,476	24,464	24,455	24,435	24,511	24,876	25,009	13,061	13,115	1,041	1,126	1,531	1,805	2,000	2,230	2,334	5,731	5,805	0	0	0
Income taxes paid during the period, net of refunds
154,037	153,915	164,520	166,383	180,149	181,166	216,045	247,131	256,486	260,232	240,816	228,276	209,547	218,984	218,946	231,967	196,728	194,670	183,909	171,493	167,637	181,840	179,787	161,311	138,643	113,224	78,759	59,604	63,222	59,604	63,084	50,771	38,752	49,763	45,978	44,992	42,618	40,669	0	0	0
Investment in newly formed consolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,214	0	0	0