Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2016 |
Jun. 30, 2015 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 201,060
|
$ 158,295
|
| Adjustments to reconcile net income to net cash from operating activities: |
|
|
| Deferred income tax expense |
117,783
|
103,059
|
| Depreciation and amortization |
26,705
|
21,853
|
| Share-based compensation expense |
16,906
|
14,654
|
| Other, net |
9,790
|
9,319
|
| Increase (decrease) in cash due to: |
|
|
| Restricted cash |
(5,210)
|
(4,526)
|
| Inventories |
(810,417)
|
(485,676)
|
| Residential mortgage loans available-for-sale |
78,460
|
70,123
|
| Other assets |
(15,506)
|
(57,054)
|
| Accounts payable, accrued and other liabilities |
55,113
|
(21,150)
|
| Net cash provided by (used in) operating activities |
(325,316)
|
(191,103)
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(21,044)
|
(23,115)
|
| Cash used for business acquisition |
(430,025)
|
0
|
| Other investing activities, net |
(8,296)
|
14,650
|
| Net cash used in investing activities |
(459,365)
|
(8,465)
|
| Cash flows from financing activities: |
|
|
| Proceeds from debt issuance |
986,084
|
0
|
| Repayments of debt |
(484,974)
|
(237,994)
|
| Borrowings under revolving credit facility |
358,000
|
0
|
| Repayments under revolving credit facility |
(358,000)
|
0
|
| Financial Services borrowings (repayments) |
(78,320)
|
(20,970)
|
| Stock option exercises |
742
|
7,222
|
| Share repurchases |
(100,806)
|
(322,066)
|
| Dividends paid |
(63,019)
|
(59,125)
|
| Net cash provided by (used in) financing activities |
259,707
|
(632,933)
|
| Net increase (decrease) in cash and equivalents |
(524,974)
|
(832,501)
|
| Cash and equivalents at beginning of period |
754,161
|
1,292,862
|
| Cash and equivalents at end of period |
229,187
|
460,361
|
| Supplemental Cash Flow Information: |
|
|
| Interest paid (capitalized), net |
(14,671)
|
(1,911)
|
| Income taxes paid (refunded), net |
$ (5,457)
|
$ (1,685)
|