Taylor morrison home corp (TMHC)
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'13
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

174,077

254,914

209,420

236,825

214,229

210,480

231,691

191,943

188,581

176,650

222,335

226,326

216,060

206,563

196,837

183,947

158,305

229,045

267,191

287,572

405,641

267,501

259,155

245,612

29,235

94,868

0

0

0

Adjustments to reconcile net income to net cash (used in)/provided by operating activities:
Equity in income of unconsolidated entities

9,616

9,509

11,538

11,949

12,405

13,332

11,680

11,953

11,007

8,846

9,662

8,522

7,756

7,453

5,085

3,319

2,238

1,759

5,646

17,521

24,409

26,735

39,011

36,680

37,034

37,563

0

0

0

Stock compensation expense

28,348

14,763

22,179

22,077

20,998

21,124

11,241

11,027

12,118

11,587

12,180

11,845

11,204

10,912

11,127

10,212

9,053

7,891

7,227

6,607

6,044

5,831

5,533

5,708

88,168

87,318

0

0

0

Distributions of earnings from unconsolidated entities

9,527

10,473

16,310

14,863

13,739

11,845

6,467

6,767

6,170

6,965

6,389

6,084

5,486

4,261

2,863

2,440

1,808

2,204

13,170

15,542

19,496

32,966

44,852

45,036

41,306

30,136

0

0

0

Depreciation and amortization

32,260

31,424

30,872

29,439

29,141

26,391

18,565

13,162

7,897

3,953

3,966

4,095

3,965

3,972

4,180

4,229

4,324

4,107

3,059

3,317

5,338

4,090

4,875

3,364

1,774

3,462

0

0

0

Operating lease expense

10,787

9,100

6,700

4,400

2,065

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs/premium amortization

838

1,173

252

536

1,420

2,369

3,397

3,562

3,742

3,819

3,819

3,819

3,842

3,843

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Land held for sale write-downs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

58,059

56,662

42,270

52,366

0

0

0

0

-

-

-

-

Gain on foreign currency forward

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29,983

0

0

0

-

-

-

-

-

-

-

-

Contingent consideration

-

-

-

-

-

146

116

269

659

736

1,084

2,102

2,964

3,838

-196

-156

3,621

4,200

0

0

0

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

44,472

110,310

95,033

88,602

88,496

18,791

21,532

27,115

26,854

17,884

16,935

17,643

24,702

-8,083

-2,679

-5,179

-17,703

0

0

0

-

-

-

-

Changes in operating assets and liabilities:
Real estate inventory and land deposits

-207,362

-990

195,813

124,039

261,322

248,215

11,612

-14,246

31,182

-41,723

-26,758

-28,448

-228,223

-166,343

97,401

95,833

286,593

424,607

219,674

276,520

315,247

310,550

448,731

478,172

604,189

450,147

0

0

0

Mortgages held for sale, prepaid expenses and other assets

67,749

26,614

63,237

47,165

63,448

27,256

-7,142

-8,291

-15,259

-67,186

-44,480

-68,203

-35,043

21,052

-4,545

49,644

62,844

69,650

91,108

77,425

47,751

141,785

61,350

87,195

62,068

5,183

0

0

0

Customer deposits

22,942

1,896

-18,271

-33,072

-7,051

18,773

3,512

9,453

18,072

20,956

48,042

42,609

28,477

18,791

35,013

38,413

35,958

19,961

-347

-8,280

-13,373

-11,378

3,590

9,205

13,417

15,795

0

0

0

Accounts payable, accrued expenses and other liabilities

49,587

73,113

160,813

115,966

109,239

63,641

-44,676

-47,467

-46,736

-20,989

-7,047

464

-39,261

-20,479

-18,061

-971

3,983

2,996

4,210

9,693

33,976

33,947

44,735

49,681

56,230

33,129

0

0

0

Income taxes payable

3,127

3,719

7,598

-13,182

-14,057

-4,525

-15,019

2,419

-13,148

-6,003

-11,654

-3,572

18,261

-27,264

-2,705

-12,818

-29,431

-11,495

18,852

9,415

26,922

11,445

-23,533

14,224

8,186

33,191

0

0

0

Net cash provided by/(used in) operating activities

493,611

393,216

232,975

270,779

106,595

135,594

309,454

296,752

239,027

386,233

362,954

406,906

537,096

372,602

151,448

95,886

-109,093

-262,688

-34,394

-75,694

-57,422

-133,690

0

0

0

-

-

-

0

Purchase of property and equipment

29,955

30,118

24,679

23,892

23,957

20,458

16,032

11,099

5,841

3,421

2,817

2,636

1,478

1,908

3,479

2,986

4,686

4,298

2,730

3,448

4,733

3,723

4,325

4,810

2,709

3,786

0

0

0

Payments for business acquisitions, net of cash acquired

0

-

-

-

0

-

-

-

-

-

-

-

-

52,819

57,720

216,179

278,619

225,800

0

0

0

-

-

-

-

-

-

-

-

Distributions of capital from unconsolidated entities

27,117

23,584

56,425

62,739

59,690

57,002

22,131

10,753

4,172

4,083

6,764

7,726

6,490

6,087

0

0

0

-

-

-

-

1,728

0

0

0

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

488

-4,655

-5,154

-10,743

-4,614

3,313

6,221

12,211

0

0

0

Investments of capital into unconsolidated entities

14,719

12,766

9,995

5,123

2,347

3,376

11,350

16,421

24,214

36,657

36,702

34,323

31,759

32,357

29,776

25,352

41,097

28,664

40,102

66,487

90,513

98,199

148,419

123,621

77,893

68,634

0

0

0

Proceeds from sale of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

268,853

0

0

0

-

-

-

-

-

-

-

-

Proceeds from settlement of foreign currency forward, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29,983

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-227,003

-19,300

-171,135

-159,162

-159,500

-159,718

-5,251

-16,767

-25,883

-35,995

-32,755

-29,233

-26,747

-80,997

-84,253

-240,310

-314,994

50,137

41,449

177,950

209,342

-89,451

0

0

0

-

-

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment on line of credit related to mortgage borrowing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Increase in loans payable and other borrowings

42,879

26,740

16,688

16,780

30,180

29,937

40,135

31,282

23,444

21,621

-13,716

5,372

9,701

33,360

74,548

88,540

75,568

51,909

42,551

13,586

40,131

41,990

44,126

58,475

39,712

45,289

0

0

0

Repayments of loans payable and other borrowings

50,031

30,383

35,041

36,816

35,513

25,319

20,148

16,814

16,773

16,511

-35,835

-4,547

-1,001

17,935

94,668

70,681

65,992

64,601

72,302

144,775

179,539

194,660

397,727

281,807

224,719

182,977

0

0

0

Borrowings on revolving credit facility

975,000

315,000

445,000

445,000

385,000

350,000

0

0

0

-

-

-

-

255,000

410,000

605,000

710,000

480,000

375,000

275,000

200,000

253,000

203,000

93,000

489,000

907,000

0

0

0

Repayments on revolving credit facility

725,000

515,000

0

0

0

-

-

-

-

-

-

-

-

370,000

425,000

495,000

400,000

405,000

295,000

210,000

200,000

213,000

0

0

0

-

-

-

-

Borrowings on mortgage warehouse

1,418,765

1,145,799

1,062,702

1,040,923

876,706

863,109

823,158

761,699

793,673

838,172

986,370

1,061,775

1,179,523

1,200,449

1,097,066

1,082,731

963,228

910,516

905,668

811,886

728,168

658,708

542,196

591,984

654,094

703,536

0

0

0

Repayment on mortgage warehouse

1,368,713

1,152,919

1,061,108

1,011,283

859,114

851,578

829,993

775,031

821,297

917,914

1,016,244

1,116,724

1,202,373

1,185,329

1,080,028

1,036,117

926,477

887,822

880,113

789,683

724,842

572,850

126,814

-20,752

388,155

709,004

0

0

0

Proceeds from the issuance of senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

350,000

0

0

0

-

-

-

-

Repayments on senior notes

1,013,252

963,252

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of deferred financing costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,255

0

0

0

-

-

-

-

Payment of contingent consideration

-

-

-

-

-

265

265

265

265

0

0

0

2,716

3,100

3,100

3,100

384

3,050

0

0

0

-

-

-

-

-

-

-

-

Proceeds from stock option exercises

17,747

13,238

12,746

2,204

1,346

1,887

2,331

2,089

5,404

5,235

4,937

4,880

557

146

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payment of principle portion of finance lease

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of shares from public offerings

-

-

-

-

-

767,115

996,616

996,616

1,460,816

1,111,806

882,306

882,306

418,106

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock, net

12,324

0

0

0

77,839

201,775

0

0

0

-

-

-

-

0

43,543

39,710

19,993

15,000

0

0

0

-

-

-

-

-

-

-

-

Repurchase of shares from Former Principal Equityholders

-

-

-

-

-

768,125

997,981

998,081

1,463,290

1,114,259

884,403

884,303

418,936

0

0

0

0

-

-

-

2,541

2,356

0

0

0

-

-

-

-

Repurchase of common stock, net

-

-

-

-

-

138,465

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of taxes related to net share settlement of equity awards

7,167

1,585

1,585

1,584

1,583

1,572

1,498

1,509

1,507

307

307

289

282

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes and distributions to non-controlling interests of consolidated joint ventures, net

13,484

4,201

956

2,777

2,680

1,347

2,413

-765

-347

-292

-1,541

-1,495

-1,625

-1,309

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by/(used in) financing activities

71,018

-377,203

-221,417

-234,811

-62,577

-219,520

-187,007

-206,652

-226,015

-76,547

-225,861

-262,764

-350,594

-117,261

-64,945

131,311

166,191

-103,005

-103,909

-223,717

-158,984

309,327

0

0

0

-

-

-

0

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20,491

-26,395

-33,814

-26,399

-13,162

-20,886

-7,798

-24,388

-21,644

0

0

0

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

337,626

-3,287

-159,577

-123,194

-115,482

-243,644

117,196

73,333

-12,871

273,691

104,338

114,909

159,755

174,344

2,250

-13,677

-258,443

-336,047

-123,249

-155,275

-33,463

73,024

-73,887

-120,326

195,002

88,579

0

0

0

SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net

19,803

20,129

39,520

45,590

61,416

63,484

70,922

71,917

96,399

96,525

99,347

95,950

67,972

107,961

87,886

89,098

92,881

90,764

274,897

95,490

184,456

99,071

-52,043

103,313

-10,183

24,354

0

0

0

SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Change in loans payable issued to sellers in connection with land purchase contracts

-103,255

-94,186

-177,863

-175,385

-149,718

-146,427

-174,935

-122,269

-94,895

-66,685

-63,644

-54,478

-59,625

-63,075

60,247

67,732

54,801

16,470

3,914

-102,312

-85,274

-88,893

288,537

103,342

242,363

226,441

0

0

0

Issuance of common stock in connection with business acquisition

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net non-cash contributions from non-controlling interests

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash portion of loss on debt extinguishment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in inventory not owned

-17,989

3,926

9,892

29,002

12,883

12,732

10,704

-2,541

-2,672

-3,725

2,495

3,391

3,687

-1,669

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Original accrual of contingent consideration for business combinations

-

-

-

-

-

-

-

-

-

-

-

-

-

-380

380

380

3,580

3,200

0

0

0

-

-

-

-

-

-

-

-

Change in prepaid expenses and other assets, net due to adoption of ASU 2014-09

-

-

-

-

-

-32,004

-32,004

-32,004

-32,004

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in property and equipment, net due to adoption of ASU 2014-09

-

-

-

-

-

32,004

32,004

32,004

32,004

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Beginning operating lease right of use liabilities due to adoption of ASU 2016-02

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in income taxes payable and related tax indemnification receivable from seller

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0