Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net earnings $ 55,309 $ 122,806
Adjustments to reconcile net earnings to net cash provided by/(used in) operating activities:    
Depreciation and amortization 5,373 5,949
Stock-based compensation 5,860 6,325
Equity in earnings from unconsolidated entities (656) (626)
Impairment of Real Estate 2,427 0
Distributions of earnings from unconsolidated entities 673 588
Other 2,074 489
Changes in assets and liabilities:    
Decrease/(increase) in real estate 34,049 (60,821)
Decrease/(increase) in deposits on real estate under option or contract 7,389 (62,179)
Decrease/(increase) in other receivables, prepaids and other assets 29,018 (37,636)
Decrease in accounts payable and accrued and other liabilities (43,274) (16,041)
Increase/(decrease) in home sale deposits 1,694 (2,863)
Net cash provided by/(used in) operating activities 101,309 (42,576)
Cash flows from investing activities:    
Investments in unconsolidated entities (3,517) (5,850)
Purchases of property and equipment (4,308) (5,592)
Proceeds from sales of property and equipment 94 29
Net cash used in investing activities (7,731) (11,413)
Cash flows from financing activities:    
Repayment of loans payable and other borrowings (33) (2,150)
Proceeds from issuance of senior notes 0 497,195
Payment of debt issuance costs 0 5,073
Dividends paid (32,017) (30,887)
Repurchase of shares (130,000) (44,999)
Net cash (used in)/provided by financing activities (102,103) 414,086
Net (decrease)/increase in cash and cash equivalents (8,525) 360,097
Cash and cash equivalents, beginning of period 775,157 651,555
Cash and cash equivalents, end of period 766,632 1,011,652
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 1,373 1,433
Proceeds for Land Under Purchase Options Recorded $ 59,947 $ 0