v3.26.3
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net earnings $ 213,723 $ 368,982
Adjustments to reconcile net earnings to net cash provided by/(used in) operating activities:    
Depreciation and amortization 16,973 18,603
Stock-based compensation 16,788 14,780
Equity in earnings from unconsolidated entities (2,941) (3,133)
Impairment of Real Estate 12,648 9,292
Distributions of earnings from unconsolidated entities 3,325 3,732
Other 8,972 7,415
Changes in assets and liabilities:    
Decrease/(increase) in real estate 58,676 (413,224)
Increase in deposits on real estate under option or contract (1,431) (9,010)
Increase in other receivables, prepaids and other assets (42,770) (77,840)
Decrease in accounts payable and accrued and other liabilities (23,860) (45,326)
Decrease in home sale deposits (1,586) (11,093)
Net cash provided by/(used in) operating activities 259,523 (125,385)
Cash flows from investing activities:    
Investments in unconsolidated entities (21,270) (21,080)
Distributions of capital from unconsolidated entities 350 0
Purchases of property and equipment (13,917) (20,145)
Proceeds from sales of property and equipment 234 184
Maturities/sales of investments and securities 0 1,750
Payments to purchase investments and securities 0 (1,750)
Net cash used in investing activities (34,603) (41,041)
Cash flows from financing activities:    
Repayment of loans payable and other borrowings (3,302) (11,522)
Proceeds from issuance of senior notes 0 497,195
Payment of debt issuance costs 0 5,106
Dividends paid (94,224) (91,759)
Repurchase of shares (285,000) (145,000)
Net cash (used in)/provided by financing activities (322,579) 243,808
Net (decrease)/increase in cash and cash equivalents (97,659) 77,382
Cash and cash equivalents, beginning of period 775,157 651,555
Cash and cash equivalents, end of period 677,498 728,937
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 1,006 11,437
Proceeds for Land Under Purchase Options Recorded $ 59,947 $ 0