Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net earnings $ 145,939 $ 269,685
Adjustments to reconcile net earnings to net cash provided by/(used in) operating activities:    
Depreciation and amortization 11,451 12,612
Stock-based compensation 11,682 9,922
Equity in earnings from unconsolidated entities (2,085) (2,164)
Impairment of Real Estate 6,009 0
Distributions of earnings from unconsolidated entities 2,027 2,116
Other 6,173 2,189
Changes in assets and liabilities:    
Decrease/(increase) in real estate 132,331 (224,617)
Decrease/(increase) in deposits on real estate under option or contract 2,625 (30,415)
Increase in other receivables, prepaids and other assets (3,101) (43,264)
Decrease in accounts payable and accrued and other liabilities (24,723) (21,013)
Increase/(decrease) in home sale deposits 804 (9,564)
Net cash provided by/(used in) operating activities 290,781 (28,875)
Cash flows from investing activities:    
Investments in unconsolidated entities (15,583) (9,377)
Purchases of property and equipment (9,876) (12,359)
Proceeds from sales of property and equipment 190 126
Maturities/sales of investments and securities 0 750
Payments to purchase investments and securities 0 (750)
Net cash used in investing activities (25,269) (21,610)
Cash flows from financing activities:    
Repayment of loans payable and other borrowings (48) (11,213)
Proceeds from issuance of senior notes 0 497,195
Payment of debt issuance costs 0 5,106
Dividends paid (63,301) (61,484)
Repurchase of shares (230,000) (89,999)
Net cash (used in)/provided by financing activities (233,402) 329,393
Net increase in cash and cash equivalents 32,110 278,908
Cash and cash equivalents, beginning of period 775,157 651,555
Cash and cash equivalents, end of period 807,267 930,463
Write Offs Of Non-Refundable Deposits And Pre-Aquisitions Costs 1,649 5,638
Proceeds for Land Under Purchase Options Recorded $ 59,947 $ 0