v3.26.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 1,294,726 $ 1,717,115
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax expense 24,524 51,921
Land-related charges 65,030 69,811
Loss on debt retirement 2,637 0
Depreciation and amortization 76,626 75,549
Equity income (loss) from unconsolidated entities, net (2,069) (3,333)
Distributions of income from unconsolidated entities 4,758 3,060
Share-based compensation expense 44,718 43,221
Other, net (21,494) (739)
Increase (decrease) in cash due to:    
Inventories (1,149,355) (635,860)
Residential mortgage loans available-for-sale 179,718 143,516
Other assets (127,060) (203,007)
Accounts payable, accrued and other liabilities 244,207 (161,132)
Net cash provided by operating activities 636,966 1,100,122
Cash flows from investing activities:    
Capital expenditures (78,221) (91,401)
Investments in unconsolidated entities (45,773) (9,171)
Distributions of capital from unconsolidated entities 21,564 45,669
Proceeds from asset dispositions 90,587 2,799
Other investing activities, net 3,000 (12,000)
Net cash used in investing activities (8,843) (64,104)
Cash flows from financing activities:    
Proceeds from debt issuance 794,784 0
Repayments of notes payable (612,691) (9,163)
Financial Services repayments, net (149,093) (122,683)
Debt issuance costs (23,411) (1,446)
Proceeds from liabilities related to consolidated inventory not owned 26,558 25,643
Payments related to consolidated inventory not owned (31,633) (32,981)
Share repurchases (1,031,567) (900,000)
Excise tax on share repurchases (11,482) (11,550)
Cash paid for shares withheld for taxes (39,557) (24,303)
Dividends paid (150,780) (133,658)
Net cash used in financing activities (1,228,872) (1,210,141)
Net increase (decrease) in cash, cash equivalents, and restricted cash (600,749) (174,123)
Cash, cash equivalents, and restricted cash at beginning of period 2,008,776 1,653,680
Cash, cash equivalents, and restricted cash at end of period 1,408,027 1,479,557
Supplemental Cash Flow Information:    
Interest paid, net 10,760 12,904
Income taxes paid, net $ 410,565 $ 533,574