Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONSOLIDATED BALANCE SHEETS

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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 766,632 $ 775,157
Other receivables 280,922 306,956
Real estate 5,962,075 5,987,120
Deposits on real estate under option or contract 166,236 174,170
Investments in unconsolidated entities 60,762 57,268
Property and equipment, net 46,064 46,647
Deferred tax assets, net 51,211 53,293
Prepaids, other assets and goodwill 220,709 221,676
Total assets 7,554,611 7,622,287
Liabilities    
Accounts payable 199,943 200,679
Accrued and other liabilities 408,718 387,698
Home sale deposits 10,907 9,213
Loans payable and other borrowings 34,990 24,328
Senior and convertible senior notes, net 1,806,284 1,804,726
Total liabilities 2,460,842 2,426,644
Stockholders’ Equity    
Preferred stock, par value $0.01. Authorized 10,000,000 shares; none issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, par value $0.01. Authorized 125,000,000 shares; 66,702,433 and 68,168,923 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 667 682
Additional paid-in capital 0 0
Retained earnings 5,093,102 5,194,961
Total stockholders’ equity 5,093,769 5,195,643
Total liabilities and stockholders’ equity $ 7,554,611 $ 7,622,287