v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 144,616 $ 173,256
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 2,159 2,487
Loss (gain) on disposal of property and equipment, net 0 (8)
Share-based compensation expense 6,209 9,523
Equity in income of unconsolidated entities (1,731) (984)
Allowances for option deposits and pre-acquisition costs 1,546 3,229
Distributions from unconsolidated entities 27,082 3,424
Changes in operating assets and liabilities:    
Decrease (increase) in receivables 11,645 (28,139)
Increase in inventory (154,011) (38,572)
Decrease (increase) in earnest money deposits 2,411 (1,778)
Increase (Decrease) in Loan, Mortgage, Held-for-Sale 14,334 0
(Increase) decrease in other assets (3,923) 6,962
Increase in accounts payable 16,411 19,084
Decrease in accrued expenses (20,036) (7,591)
Increase in customer and builder deposits 707 2,567
Net cash provided by operating activities 47,419 143,460
Cash flows from investing activities:    
Investments in unconsolidated entities (10,009) (24,200)
Purchases of property and equipment (2,190) (1,400)
Net cash used in investing activities (12,199) (25,600)
Cash flows from financing activities:    
Borrowings from lines of credit 50,000 95,000
Repayments of lines of credit (50,000) (120,000)
Repayments of Unsecured Debt (25,000) (25,000)
Proceeds from (Repayments of) Short-Term Debt, Maturing in Three Months or Less (11,766) 4,194
Payments of debt issuance costs (162) (71)
Payments of withholding tax on vesting of restricted stock awards (1,799) (3,059)
Repurchases of common stock (16,685) (60,736)
Dividends paid (1,438) (1,438)
Distributions to redeemable noncontrolling interest (5,669) (4,029)
Distributions to noncontrolling interests (9,278) (16,624)
Net cash used in financing activities (71,797) (131,763)
Net decrease in cash and cash equivalents and restricted cash (36,577) (13,903)
Cash and cash equivalents and restricted cash, beginning of period 190,985 159,696
Cash and cash equivalents and restricted cash, end of period 154,408 145,793
Supplemental Cash Flow Information [Abstract]    
Income Tax Paid, after Refund Received $ 42,256 $ 35,546