Tri Pointe Homes (TPH) 10-Q 27 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 14, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	TPH
Entity Registrant Name	TRI Pointe Group, Inc.
Entity Central Index Key	1,561,680
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		160,064,678

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 128,715	$ 214,485
Receivables	35,321	43,710
Real estate inventories	2,969,148	2,519,273
Investments in unconsolidated entities	17,205	18,999
Goodwill and other intangible assets, net	161,629	162,029
Deferred tax assets, net	111,887	130,657
Other assets	65,998	48,918
Total assets	3,489,903	3,138,071
Liabilities
Accounts payable	77,667	64,840
Accrued expenses and other liabilities	219,396	216,263
Unsecured revolving credit facility	200,000	299,392
Seller financed loans	17,758	2,434
Senior notes, net	1,166,724	868,679
Total liabilities	1,681,545	1,451,608
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized; 160,064,678 and 161,813,750 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	1,601	1,618
Additional paid-in capital	894,681	911,197
Retained earnings	889,178	751,868
Total stockholders’ equity	1,785,460	1,664,683
Noncontrolling interests	22,898	21,780
Total equity	1,808,358	1,686,463
Total liabilities and equity	$ 3,489,903	$ 3,138,071

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	500,000,000	500,000,000
Common stock, shares issued (shares)	160,064,678	161,813,750
Common stock, shares outstanding (shares)	160,064,678	161,813,750

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Homebuilding:
Home sales revenue	$ 578,653	$ 642,352	$ 1,558,633	$ 1,443,855
Land and lot sales revenue	2,535	4,876	70,204	74,366
Other operations revenue	606	613	1,790	2,213
Total revenues	581,794	647,841	1,630,627	1,520,434
Cost of home sales	462,323	507,543	1,219,560	1,149,191
Cost of land and lot sales	1,734	3,451	16,973	17,324
Other operations expense	575	570	1,724	1,704
Sales and marketing	31,852	30,038	90,621	78,958
General and administrative	31,150	26,736	89,815	83,150
Restructuring charges	128	2,010	478	2,730
Homebuilding income from operations	54,032	77,493	211,456	187,377
Equity in (loss) income of unconsolidated entities	(20)	(150)	181	(82)
Other income, net	21	47	287	272
Homebuilding income before income taxes	54,033	77,390	211,924	187,567
Financial Services:
Revenues	235	300	762	482
Expenses	72	47	183	131
Equity in income (loss) of unconsolidated entities	1,247	147	3,246	(2)
Financial services income before income taxes	1,410	400	3,825	349
Income before income taxes	55,443	77,790	215,749	187,916
Provision for income taxes	(20,298)	(28,021)	(77,701)	(66,088)
Net income	35,145	49,769	138,048	121,828	$ 207,181
Net (income) loss attributable to noncontrolling interests	(311)	393	(738)	(1,439)
Net income available to common stockholders	$ 34,834	$ 50,162	$ 137,310	$ 120,389
Earnings per share
Basic (in dollars per share)	$ 0.22	$ 0.31	$ 0.85	$ 0.74
Diluted (in dollars per share)	$ 0.22	$ 0.31	$ 0.85	$ 0.74
Weighted average shares outstanding
Basic (shares)	160,614,055	161,772,893	161,456,520	161,651,177
Diluted (shares)	161,267,509	162,366,744	161,916,352	162,299,282

Consolidated Statements of Equi

Consolidated Statements of Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2014	$ 1,472,476	$ 1,614	$ 906,159	$ 546,407	$ 1,454,180	$ 18,296
Beginning Balance, shares at Dec. 31, 2014		161,355,490
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	207,181			205,461	205,461	1,720
Adjustment to capital contribution by Weyerhaeuser, net	(6,747)		(6,747)		(6,747)
Shares issued under share-based awards	1,616	$ 4	1,612		1,616
Shares issued under share-based awards, shares		458,260
Excess tax benefit of share-based awards, net	428		428		428
Minimum tax withholding paid on behalf of employees for restricted stock units	(2,190)		(2,190)		(2,190)
Stock-based compensation expense	11,935		11,935		11,935
Distributions to noncontrolling interests, net	(3,833)					(3,833)
Net effect of consolidations, de-consolidations and other transactions	5,597					5,597
Ending Balance at Dec. 31, 2015	$ 1,686,463	$ 1,618	911,197	751,868	1,664,683	21,780
Ending Balance, shares at Dec. 31, 2015	161,813,750	161,813,750
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 138,048			137,310	137,310	738
Shares issued under share-based awards	461	$ 4	457		461
Shares issued under share-based awards, shares		356,449
Excess tax deficit of share-based awards, net	(170)		(170)		(170)
Minimum tax withholding paid on behalf of employees for restricted stock units	(1,359)		(1,359)		(1,359)
Stock-based compensation expense	9,648		9,648		9,648
Share repurchases	(25,113)	$ (21)	(25,092)		(25,113)
Share repurchases, shares		(2,105,521)
Distributions to noncontrolling interests, net	(3,104)					(3,104)
Net effect of consolidations, de-consolidations and other transactions	3,484					3,484
Ending Balance at Sep. 30, 2016	$ 1,808,358	$ 1,601	$ 894,681	$ 889,178	$ 1,785,460	$ 22,898
Ending Balance, shares at Sep. 30, 2016	160,064,678	160,064,678

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 138,048	$ 121,828
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	2,322	5,416
Equity in (income) loss of unconsolidated entities, net	(3,427)	84
Deferred income taxes, net	18,770	16,342
Amortization of stock-based compensation	9,648	8,536
Charges for impairments and lot option abandonments	678	1,903
Excess tax deficit of share-based awards	(170)	0
Changes in assets and liabilities:
Real estate inventories	(442,671)	(305,889)
Receivables	8,549	(12,803)
Other assets	(16,806)	25,490
Accounts payable	12,827	(1,113)
Accrued expenses and other liabilities	5,876	195
Returns on investments in unconsolidated entities, net	5,049	0
Net cash used in operating activities	(261,307)	(140,011)
Cash flows from investing activities:
Purchases of property and equipment	(2,056)	(1,059)
Investments in unconsolidated entities	(32)	(1,458)
Distributions from unconsolidated entities	0	319
Net cash used in investing activities	(2,088)	(2,198)
Cash flows from financing activities:
Borrowings from debt	491,069	140,000
Repayment of debt	(276,826)	(57,713)
Debt issuance costs	(5,061)	(2,688)
Net repayments of debt held by variable interest entities	(2,442)	(5,927)
Contributions from noncontrolling interests	1,955	4,281
Distributions to noncontrolling interests	(5,059)	(9,198)
Proceeds from issuance of common stock under share-based awards	461	1,616
Excess tax benefit of share-based awards	0	392
Minimum tax withholding paid on behalf of employees for share-based awards	(1,359)	(2,190)
Share repurchases	(25,113)	0
Net cash provided by financing activities	177,625	68,573
Net decrease in cash and cash equivalents	(85,770)	(73,636)
Cash and cash equivalents - beginning of period	214,485	170,629
Cash and cash equivalents - end of period	$ 128,715	$ 96,993

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Summary of Significant Accounting Policies	Organization, Basis of Presentation and Summary of Significant Accounting Policies Organization TRI Pointe Group is engaged in the design, construction and sale of innovative single-family attached and detached homes through its portfolio of six quality brands across eight states, including Maracay Homes in Arizona, Pardee Homes in California and Nevada, Quadrant Homes in Washington, Trendmaker Homes in Texas, TRI Pointe Homes in California and Colorado and Winchester Homes in Maryland and Virginia. Formation of TRI Pointe Group On July 7, 2015, TRI Pointe Homes reorganized its corporate structure (the “Reorganization”) whereby TRI Pointe Homes became a direct, wholly owned subsidiary of TRI Pointe Group. As a result of the Reorganization, each share of common stock, par value $0.01 per share, of TRI Pointe Homes (“Homes Common Stock”) was cancelled and converted automatically into the right to receive one validly issued, fully paid and non-assessable share of common stock, par value $0.01 per share, of TRI Pointe Group (“Group Common Stock”), each share having the same designations, rights, powers and preferences, and the qualifications, limitations and restrictions thereof as the shares of Homes Common Stock being so converted. TRI Pointe Group, as the successor issuer to TRI Pointe Homes (pursuant to Rule 12g-3(a) under the Exchange Act), began making filings under the Securities Act and the Exchange Act on July 7, 2015. In connection with the Reorganization, TRI Pointe Group (i) became a co-issuer of TRI Pointe Homes’ 4.375% Senior Notes due 2019 (the “2019 Notes”) and TRI Pointe Homes’ 5.875% Senior Notes due 2024 (the “2024 Notes”); and (ii) replaced TRI Pointe Homes as the borrower under TRI Pointe Homes’ existing unsecured revolving credit facility. Basis of Presentation The accompanying financial statements have been prepared in accordance with GAAP, as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, as well as other entities in which the Company has a controlling interest and variable interest entities (“VIEs”) in which the Company is the primary beneficiary. The noncontrolling interests as of September 30, 2016 and December 31, 2015 represent the outside owners’ interests in the Company’s consolidated entities and the net equity of the VIE owners. All significant intercompany accounts have been eliminated upon consolidation. In the opinion of management, all adjustments consisting of normal recurring adjustments, necessary for a fair presentation with respect to interim financial statements, have been included. Use of Estimates Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates. Reclassifications Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation, including the Company's change in reportable segments to include the addition of our financial services operation in the fourth quarter of 2015. These reclassifications had no material impact on the Company's condensed consolidated financial statements. Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the performance obligations in the contract; and recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 supersedes the revenue-recognition requirements in ASC Topic 605, Revenue Recognition , most industry-specific guidance throughout the industry topics of the accounting standards codification, and some cost guidance related to construction-type and production-type contracts. On July 9, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year and it is now effective for public entities for the annual periods ending after December 15, 2017, and for annual and interim periods thereafter. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. Early adoption is permitted, but can be no earlier than the original public entity effective date of fiscal years, and the interim periods within those years, beginning after December 15, 2016. We are currently evaluating the approach for implementation and the potential impact of adopting this guidance on our consolidated financial statements. In August 2014, the FASB issued Accounting Standards Update No. 2014-15 (“ASU 2014-15”), Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern , which requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update No. 2015-02, (“ASU 2015-02”), Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. We adopted ASU 2015-02 on January 1, 2016 and the adoption had no impact on our current or prior year financial statements. In November 2015, the FASB issued Accounting Standards Update No. 2015-17, (“ASU 2015-17”), Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred tax liabilities and assets be classified as noncurrent in a classified statement of position. ASU 2015-17 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The adoption of ASU 2015-17 is not expected to have a material effect on our consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, (“ASU 2016-02”), Leases (Topic 842): Leases , which requires an entity to recognize assets and liabilities on the balance sheet for the rights and obligations created by leased assets and provide additional disclosures. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and, at that time, we will adopt the new standard using a modified retrospective approach. We are currently evaluating the impact that the adoption of ASU 2016-02 may have on our consolidated financial statements and disclosures. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, (“ASU 2016-09”), Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. We are currently evaluating the impact that the adoption of ASU 2016-09 may have on our consolidated financial statements and disclosures. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, (“ASU 2016-15”), Statement of Cash Flows (Topic 230) : Classification of Certain Cash Receipts and Cash Payments, which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. We are currently evaluating the impact that adoption of ASU 2016-15 may have on our consolidated financial statements and disclosures.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Restructuring charges were comprised of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Employee-related charges $ 5 $ 1,433 $ 30 $ 1,568 Lease termination charges 123 577 448 1,162 Total $ 128 $ 2,010 $ 478 $ 2,730 Employee-related charges for the three and nine months ended September 30, 2016 and 2015 relate to severance-related expenses for employees terminated during the period. Lease termination charges for the three and nine months ended September 30, 2016 , and 2015 relate to contract terminations and the adjustment of restructuring reserves related to the estimate of sublease income. Changes in employee-related restructuring reserves were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Accrued employee-related charges, beginning of period $ 100 $ 109 $ 220 $ 3,844 Current year charges 5 1,433 30 1,568 Payments (20 ) (1,087 ) (165 ) (4,957 ) Accrued employee-related charges, end of period $ 85 $ 455 $ 85 $ 455 Changes in lease termination related restructuring reserves were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Accrued lease termination charges, beginning of period $ 447 $ 644 $ 767 $ 1,394 Current year charges 123 577 448 1,162 Payments (352 ) (705 ) (997 ) (2,040 ) Accrued lease termination charges, end of period $ 218 $ 516 $ 218 $ 516 Employee and lease termination restructuring reserves are included in accrued expenses and other liabilities on our consolidated balance sheets.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We operate two principal businesses: homebuilding and financial services. Our homebuilding operations consist of six homebuilding brands that acquire and develop land and construct and sell single-family detached and attached homes. In accordance with ASC Topic 280, Segment Reporting , in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply. Based upon the above factors, our homebuilding operations are comprised of the following six reportable segments: Maracay Homes, consisting of operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado; and Winchester Homes, consisting of operations in Maryland and Virginia. Our financial services operation (“TRI Pointe Solutions”) is a reportable segment and is comprised of mortgage financing operations (“TRI Pointe Connect”) and title services operations (“TRI Pointe Assurance”). While our homebuyers may obtain financing from any mortgage provider of their choice, TRI Pointe Connect, which was formed as a joint venture with an established mortgage lender, can act as a preferred mortgage broker to our homebuyers in all of the markets in which we operate, providing mortgage originations that help facilitate the sale and closing process as well as generate additional fee income for us. TRI Pointe Assurance provides title examinations for our homebuyers in our Trendmaker Homes and Winchester Homes brands. TRI Pointe Assurance is a wholly owned subsidiary of TRI Pointe and acts as a title agency for First American Title Insurance Company. We commenced our financial services operation in the fourth quarter of 2014. The term “Corporate” refers to a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit and risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate is allocated to the homebuilding reporting segments. The reportable segments follow the same accounting policies as our consolidated financial statements described in Note 1, Organization, Basis of Presentation and Summary of Significant Accounting Policies . Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Revenues Maracay Homes $ 68,024 $ 50,505 $ 161,318 $ 116,556 Pardee Homes 188,148 172,957 547,311 424,680 Quadrant Homes 48,354 48,173 153,575 132,698 Trendmaker Homes 64,251 81,044 172,509 203,235 TRI Pointe Homes 167,769 224,244 452,553 461,654 Winchester Homes 45,248 70,918 143,361 181,611 Total homebuilding revenues 581,794 647,841 1,630,627 1,520,434 Financial services 235 300 762 482 Total $ 582,029 $ 648,141 $ 1,631,389 $ 1,520,916 Income (loss) before income taxes Maracay Homes $ 4,385 $ 3,687 $ 9,544 $ 5,820 Pardee Homes 37,508 39,776 165,718 121,112 Quadrant Homes 5,497 3,850 14,808 6,176 Trendmaker Homes 3,516 7,214 9,439 17,525 TRI Pointe Homes 11,723 29,561 34,651 55,295 Winchester Homes 1,692 1,557 6,345 7,948 Corporate (10,288 ) (8,255 ) (28,581 ) (26,309 ) Total homebuilding income before income taxes 54,033 77,390 211,924 187,567 Financial services 1,410 400 3,825 349 Total $ 55,443 $ 77,790 $ 215,749 $ 187,916 Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands): September 30, 2016 December 31, 2015 Real estate inventories Maracay Homes $ 252,094 $ 206,912 Pardee Homes 1,109,262 1,011,982 Quadrant Homes 217,430 190,038 Trendmaker Homes 221,201 199,398 TRI Pointe Homes 877,941 659,130 Winchester Homes 291,220 251,813 Total $ 2,969,148 $ 2,519,273 Total assets Maracay Homes $ 272,928 $ 227,857 Pardee Homes 1,182,282 1,089,586 Quadrant Homes 237,959 202,024 Trendmaker Homes 236,618 213,562 TRI Pointe Homes 1,047,975 832,423 Winchester Homes 314,069 278,374 Corporate 192,654 292,169 Total homebuilding assets 3,484,485 3,135,995 Financial services 5,418 2,076 Total $ 3,489,903 $ 3,138,071

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income available to common stockholders $ 34,834 $ 50,162 $ 137,310 $ 120,389 Denominator: Basic weighted-average shares outstanding 160,614,055 161,772,893 161,456,520 161,651,177 Effect of dilutive shares: Stock options and unvested restricted stock units 653,454 593,851 459,832 648,105 Diluted weighted-average shares outstanding 161,267,509 162,366,744 161,916,352 162,299,282 Earnings per share Basic $ 0.22 $ 0.31 $ 0.85 $ 0.74 Diluted $ 0.22 $ 0.31 $ 0.85 $ 0.74 Antidilutive stock options and unvested restricted stock not included in diluted earnings per share 3,806,396 2,260,532 4,551,337 2,462,268

Receivables

Receivables	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Receivables	Receivables Receivables consisted of the following (in thousands): September 30, 2016 December 31, 2015 Escrow proceeds and other accounts receivable, net $ 25,619 $ 32,917 Warranty insurance receivable (Note 14) 9,702 10,493 Notes and contracts receivable — 300 Total receivables $ 35,321 $ 43,710

Real Estate Inventories

Real Estate Inventories	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Real Estate Inventories	Real Estate Inventories Real estate inventories consisted of the following (in thousands): September 30, 2016 December 31, 2015 Real estate inventories owned: Homes completed or under construction $ 757,707 $ 575,076 Land under development 1,720,126 1,443,461 Land held for future development 298,841 295,241 Model homes 140,566 140,232 Total real estate inventories owned 2,917,240 2,454,010 Real estate inventories not owned: Land purchase and land option deposits 29,608 39,055 Consolidated inventory held by VIEs 22,300 26,208 Total real estate inventories not owned 51,908 65,263 Total real estate inventories $ 2,969,148 $ 2,519,273 Homes completed or under construction is comprised of costs associated with homes in various stages of construction and includes direct construction and related land acquisition and land development costs. Land under development primarily consists of land acquisition and land development costs, which include capitalized interest and real estate taxes, associated with land undergoing improvement activity. Land held for future development principally reflects land acquisition and land development costs related to land where development activity has not yet begun or has been suspended, but is expected to occur in the future. Real estate inventories not owned represents deposits related to land purchase and land and lot option agreements as well as consolidated inventory held by variable interest entities. For further details, see Note 8, Variable Interest Entities . In June of 2016, our Pardee Homes reporting segment sold two parcels, totaling 102 homebuilding lots, located in the Pacific Highlands Ranch community in San Diego, California. The land sold in these sales were classified as land under development and represented $61.6 million of land and lot sales revenue in the consolidated statements of operations for the nine months ended September 30, 2016 . Interest incurred, capitalized and expensed were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Interest incurred $ 18,601 $ 15,454 $ 50,030 $ 45,779 Interest capitalized (18,601 ) (15,454 ) (50,030 ) (45,779 ) Interest expensed $ — $ — $ — $ — Capitalized interest in beginning inventory $ 151,347 $ 140,106 $ 140,311 $ 124,461 Interest capitalized as a cost of inventory 18,601 15,454 50,030 45,779 Interest previously capitalized as a cost of inventory, included in cost of sales (14,415 ) (13,339 ) (34,808 ) (28,019 ) Capitalized interest in ending inventory $ 155,533 $ 142,221 $ 155,533 $ 142,221 Interest is capitalized to real estate inventory during development and other qualifying activities. Interest that is capitalized to real estate inventory is included in cost of home sales or cost of land and lot sales as related units or lots are delivered. Interest that is expensed as incurred is included in other income, net. Real estate inventory impairments and land and lot option abandonments Land and lot option abandonments and pre-acquisition charges were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Real estate inventory impairments $ — $ 29 $ — $ 1,073 Land and lot option abandonments and pre-acquisition charges 389 336 678 830 Total $ 389 $ 365 $ 678 $ 1,903 Impairments of real estate inventory relate primarily to projects or communities that include homes completed or under construction. Within a project or community, there may be individual homes or parcels of land that are currently held for sale. Impairment charges recognized as a result of adjusting individual held-for-sale assets within a community to estimated fair value less cost to sell are also included in the total impairment charges above. Charges for inventory impairments are expensed to cost of sales. In addition to owning land and residential lots, we also have option agreements to purchase land and lots at a future date. We have option deposits and capitalized pre-acquisition costs associated with the optioned land and lots. When the economics of a project no longer support acquisition of the land or lots under option, we may elect not to move forward with the acquisition. Option deposits and capitalized pre-acquisition costs associated with the assets under option may be forfeited at that time. Charges for such forfeitures are expensed to cost of sales.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of September 30, 2016 , we held equity investments in five active homebuilding partnerships or limited liability companies and one financial services limited liability company. Our participation in these entities may be as a developer, a builder, or an investment partner. Our ownership percentage varies from 7% to 55% , depending on the investment, with no controlling interest held in any of these investments. Investments Held Our cumulative investment in entities accounted for on the equity method, including our share of earnings and losses, consisted of the following (in thousands): September 30, 2016 December 31, 2015 Limited liability company interests $ 13,946 $ 15,739 General partnership interests 3,259 3,260 Total $ 17,205 $ 18,999 Unconsolidated Financial Information Aggregated assets, liabilities and operating results of the entities we account for as equity-method investments are provided below. Because our ownership interest in these entities varies, a direct relationship does not exist between the information presented below and the amounts that are reflected on our consolidated balance sheets as our investments in unconsolidated entities or on our consolidated statements of operations as equity in income (loss) of unconsolidated entities. Assets and liabilities of unconsolidated entities (in thousands): September 30, 2016 December 31, 2015 Assets Cash $ 11,945 $ 18,641 Receivables 10,038 13,108 Real estate inventories 96,654 92,881 Other assets 1,065 1,180 Total assets $ 119,702 $ 125,810 Liabilities and equity Accounts payable and other liabilities $ 12,932 $ 14,443 Company’s equity 17,205 18,999 Outside interests' equity 89,565 92,368 Total liabilities and equity $ 119,702 $ 125,810 Results of operations from unconsolidated entities (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net sales $ 4,619 $ 1,217 $ 12,516 $ 2,670 Other operating expense (2,913 ) (1,479 ) (8,067 ) (4,020 ) Other income (loss) 1 (263 ) 3 (256 ) Net income (loss) $ 1,707 $ (525 ) $ 4,452 $ (1,606 ) Company’s equity in income (loss) of unconsolidated entities $ 1,227 $ (3 ) $ 3,427 $ (84 )

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities In the ordinary course of business, we enter into land and lot option agreements in order to procure land and residential lots for future development and the construction of homes. The use of such land and lot option agreements generally allows us to reduce the risks associated with direct land ownership and development, and reduces our capital and financial commitments. Pursuant to these land and lot option agreements, we generally provide a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. Such deposits are recorded as land purchase and land option deposits under real estate inventories not owned in the accompanying consolidated balance sheets. We analyze each of our land and lot option agreements and other similar contracts under the provisions of ASC 810 Consolidation to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, if we are determined to be the primary beneficiary of the VIE, we will consolidate the VIE in our financial statements and reflect its assets as real estate inventory not owned included in our real estate inventories, its liabilities as debt (nonrecourse) held by VIEs in accrued expenses and other liabilities and the net equity of the VIE owners as noncontrolling interests on our consolidated balance sheets. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE. Creditors of the entities with which we have land and lot option agreements have no recourse against us. The maximum exposure to loss under our land and lot option agreements is limited to non-refundable option deposits and any capitalized pre-acquisition costs. In some cases, we have also contracted to complete development work at a fixed cost on behalf of the land owner and budget shortfalls and savings will be borne by us. The following provides a summary of our interests in land and lot option agreements (in thousands): September 30, 2016 December 31, 2015 Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Consolidated VIEs $ 600 $ 21,700 $ 22,300 $ 3,003 $ 23,239 $ 26,208 Unconsolidated VIEs 2,170 58,135 N/A 11,615 74,590 N/A Other land option agreements 27,438 365,224 N/A 27,440 279,612 N/A Total $ 30,208 $ 445,059 $ 22,300 $ 42,058 $ 377,441 $ 26,208 Unconsolidated VIEs represent land option agreements that were not consolidated because we were not the primary beneficiary. Other land and lot option agreements were not considered VIEs. In addition to the deposits presented in the table above, our exposure to loss related to our land and lot option contracts consisted of capitalized pre-acquisition costs of $4.7 million and $5.0 million as of September 30, 2016 and December 31, 2015 , respectively. These pre-acquisition costs were included in real estate inventories as land under development on our consolidated balance sheets.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets As of September 30, 2016 and December 31, 2015 , $139.3 million of goodwill is included in goodwill and other intangible assets, net on each of the consolidated balance sheets. The Company's goodwill balance is included in the TRI Pointe Homes reporting segment in Note 3, Segment Information . We have two intangible assets recorded as of September 30, 2016 , comprised of an existing trade name from the acquisition of Maracay Homes in 2006, which has a 20 year useful life, and a TRI Pointe Homes trade name resulting from the acquisition of WRECO in 2014, which has an indefinite useful life. Goodwill and other intangible assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Goodwill $ 139,304 $ — $ 139,304 $ 139,304 $ — $ 139,304 Trade names 27,979 (5,654 ) 22,325 27,979 (5,254 ) 22,725 Total $ 167,283 $ (5,654 ) $ 161,629 $ 167,283 $ (5,254 ) $ 162,029 The remaining useful life of our amortizing intangible asset related to the Maracay Homes trade name was 9.4 and 10.2 years as of September 30, 2016 and December 31, 2015 , respectively. Amortization expense related to this intangible asset was $133,000 for each of the three month periods ended September 30, 2016 and 2015 , respectively and was $400,000 for each of the nine month periods ended September 30, 2016 and 2015 , respectively. Amortization of this intangible asset was charged to sales and marketing expense. Our $17.3 million indefinite life intangible asset related to the TRI Pointe Homes trade name is not amortizing. All trade names are evaluated for impairment on an annual basis or more frequently if indicators of impairment exist. Expected amortization of our intangible asset related to Maracay Homes for the remainder of 2016, the next four years and thereafter is (in thousands): Remainder of 2016 $ 134 2017 534 2018 534 2019 534 2020 534 Thereafter 2,755 Total $ 5,025

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Prepaid expenses $ 14,899 $ 14,523 Refundable fees and other deposits 21,695 17,056 Development rights, held for future use or sale 4,227 4,360 Deferred loan costs - unsecured revolving credit facility 2,319 2,179 Operating properties and equipment, net 9,525 7,643 Income tax receivable 10,633 — Other 2,700 3,157 Total $ 65,998 $ 48,918

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): September 30, 2016 December 31, 2015 Accrued payroll and related costs $ 23,126 $ 28,264 Warranty reserves (Note 14) 45,665 45,948 Estimated cost for completion of real estate inventories 53,218 52,818 Customer deposits 19,428 12,132 Debt (nonrecourse) held by VIEs — 2,442 Income tax liability to Weyerhaeuser (Note 17) 8,999 8,900 Accrued income taxes payable — 19,279 Liability for uncertain tax positions (Note 17) — 307 Accrued interest 19,240 2,417 Accrued insurance expense 2,529 1,402 Other tax liability 30,459 21,764 Other 16,732 20,590 Total $ 219,396 $ 216,263

Senior Notes, Unsecured Revolvi

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans	Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans Senior Notes The Senior Notes consisted of the following (in thousands): September 30, 2016 December 31, 2015 4.375% Senior Notes due June 15, 2019 $ 450,000 $ 450,000 4.875% Senior Notes due July 1, 2021 300,000 — 5.875% Senior Notes due June 15, 2024 450,000 450,000 Discount and deferred loan costs (33,276 ) (31,321 ) Total $ 1,166,724 $ 868,679 In May 2016, TRI Pointe Group issued $300 million aggregate principal amount of 4.875% Senior Notes due 2021 (the "2021 Notes") at 99.44% of their aggregate principal amount. Net proceeds of this issuance were $293.9 million , after debt issuance costs and discounts. The 2021 Notes mature on July 1, 2021 and interest is paid semiannually in arrears on January 1 and July 1. TRI Pointe Group and TRI Pointe Homes are co-issuers of the 2019 Notes and the 2024 Notes. The 2019 Notes were issued at 98.89% of their aggregate principal amount and the 2024 Notes were issued at 98.15% of their aggregate principal amount. The net proceeds from the offering were $861.3 million , after debt issuance costs and discounts. The 2019 Notes and 2024 Notes mature on June 15, 2019 and June 15, 2024 , respectively. Interest is payable semiannually in arrears on June 15 and December 15. As of September 30, 2016 , no principal has been paid on the 2019 Notes, 2021 Notes and 2024 Notes (together, the "Senior Notes"), and there was $22.0 million of capitalized debt financing costs, included in senior notes, net on our consolidated balance sheet, related to the Senior Notes that will amortize over the lives of the Senior Notes. Accrued interest related to the Senior Notes was $18.6 million and $1.9 million as of September 30, 2016 and December 31, 2015 , respectively. Unsecured Revolving Credit Facility Unsecured revolving credit facility consisted of the following (in thousands): September 30, 2016 December 31, 2015 Unsecured revolving credit facility $ 200,000 $ 299,392 On April 28, 2016, the Company partially exercised the accordion feature under its existing unsecured revolving credit facility (the “Credit Facility”) to increase the total commitments under the Credit Facility to $625 million from $550 million . The Credit Facility matures on May 18, 2019 , and contains a sublimit of $75 million for letters of credit. The Company may borrow under the Credit Facility in the ordinary course of business to fund its operations, including its land acquisition, land development and homebuilding activities. Borrowings under the Credit Facility will be governed by, among other things, a borrowing base. Interest rates on borrowings under the Credit Facility will be based on either a daily Eurocurrency base rate or a Eurocurrency rate, in either case, plus a spread ranging from 1.45% to 2.20% , depending on the Company’s leverage ratio. As of September 30, 2016 , the outstanding balance under the Credit Facility was $200.0 million with an interest rate of 2.28% per annum and $420.7 million of availability after considering the borrowing base provisions and outstanding letters of credit. As of September 30, 2016 there was $2.3 million of capitalized debt financing costs, included in other assets on our consolidated balance sheet, related to the Credit Facility that will amortize over the life of the Credit Facility, maturing on May 18, 2019. Accrued interest related to the Credit Facility was $645,000 and $407,000 as of September 30, 2016 and December 31, 2015 , respectively. At September 30, 2016 we had outstanding letters of credit of $4.3 million . These letters of credit were issued to secure various financial obligations. We believe it is not probable that any outstanding letters of credit will be drawn upon. Seller Financed Loans Seller financed loans consisted of the following (in thousands): September 30, 2016 December 31, 2015 Seller financed loans $ 17,758 $ 2,434 As of September 30, 2016 , the Company had $17.8 million outstanding related to a seller financed loan to acquire land and lots for the construction of homes. Principal and interest payments on this loan are due at various maturity dates, including at the time individual homes associated with the acquired land are delivered. As of September 30, 2016 , the seller financed loan accrues interest at a rate of 7.0% per annum, with interest calculated on a daily basis. A minimum principal payment of $12.1 million is due in June 2017 with any remaining unpaid balance due in June 2018. Accrued interest on seller financed loans was $359,000 and $89,000 as of September 30, 2016 and December 31, 2015 , respectively. Interest Incurred During the three month periods ended September 30, 2016 and 2015 , the Company incurred interest of $18.6 million and $15.5 million , respectively, related to all debt during the period. All interest incurred was capitalized to inventory for the three month periods ended September 30, 2016 and 2015 , respectively. Included in interest incurred was amortization of deferred financing and Senior Notes discount costs of $1.8 million and $1.5 million for the three months ended September 30, 2016 and 2015 , respectively. During the nine month periods ended September 30, 2016 and 2015 , the Company incurred interest of $50.0 million and $45.8 million , respectively, related to all debt during the period. All interest incurred was capitalized to inventory for the nine month periods ended September 30, 2016 and 2015, respectively. Included in interest incurred was amortization of deferred financing and Senior Notes discount costs of $4.7 million and $3.9 million for the nine months ended September 30, 2016 and 2015 , respectively. Accrued interest related to all outstanding debt at September 30, 2016 and December 31, 2015 was $19.2 million and $2.4 million , respectively. Covenant Requirements The Senior Notes contain covenants that restrict our ability to, among other things, create liens or other encumbrances, enter into sale and leaseback transactions, or merge or sell all or substantially all of our assets. These limitations are subject to a number of qualifications and exceptions. Under the Credit Facility, the Company is required to comply with certain financial covenants, including but not limited to (i) a minimum consolidated tangible net worth; (ii) a maximum total leverage ratio; and (iii) a minimum interest coverage ratio. The Company was in compliance with all applicable financial covenants as of September 30, 2016 and December 31, 2015 .

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures , defines “fair value” as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories: • Level 1—Quoted prices for identical instruments in active markets • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date • Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date Fair Value of Financial Instruments A summary of assets and liabilities at September 30, 2016 and December 31, 2015 , related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands): September 30, 2016 December 31, 2015 Hierarchy Book Value Fair Value Book Value Fair Value Senior Notes (1) Level 2 $ 1,188,686 $ 1,235,250 $ 889,054 $ 881,460 Unsecured revolving credit facility (2) Level 2 $ 200,000 $ 192,772 $ 299,392 $ 299,392 Seller financed loans (3) Level 2 $ 17,758 $ 17,758 $ 2,434 $ 2,368 __________ (1) The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $22.0 million and $20.4 million as of September 30, 2016 and December 31, 2015 , respectively. The estimated fair value of the Senior Notes at September 30, 2016 and December 31, 2015 is based on quoted market prices. (2) The estimated fair value of the Credit Facility at September 30, 2016 is based on a treasury curve analysis. We believe that the carrying value of the Credit Facility approximated fair value at December 31, 2015 due to the short term nature of the current rate amended on May 18, 2015. (3) The estimated fair value of the seller financed loans at September 30, 2016 and December 31, 2015 is based on a treasury curve analysis. At September 30, 2016 and December 31, 2015 , the carrying value of cash and cash equivalents and receivables approximated fair value. Fair Value of Nonfinancial Assets Nonfinancial assets include items such as real estate inventories and long-lived assets that are measured at fair value on a nonrecurring basis when events and circumstances indicate the carrying value is not recoverable. The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands): Nine Months Ended September 30, 2016 Year Ended December 31, 2015 Impairment Charge Fair Value Net of Impairment Impairment Charge Fair Value Net of Impairment Real estate inventories (1) $ — $ — $ 1,167 $ 28,540 _______________ (1) Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respective periods presented. The fair value of these real estate inventories impaired was determined based on recent offers received from outside third parties or actual contracts.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters Lawsuits, claims and proceedings have been and may be instituted or asserted against us in the normal course of business, including actions brought on behalf of various classes of claimants. We are also subject to local, state and federal laws and regulations related to land development activities, house construction standards, sales practices, employment practices, environmental protection and financial services. As a result, we are subject to periodic examinations or inquiry by agencies administering these laws and regulations. We record a reserve for potential legal claims and regulatory matters when they are probable of occurring and a potential loss is reasonably estimable. We accrue for these matters based on facts and circumstances specific to each matter and revise these estimates when necessary. In view of the inherent difficulty of predicting outcomes of legal claims and related contingencies, we generally cannot predict their ultimate resolution, related timing or eventual loss. Accordingly, it is possible that the ultimate outcome of any matter, if in excess of a related accrual or if no accrual was made, could be material to our financial statements. For matters as to which the Company believes a loss is probable and reasonably estimable, we had legal reserves of $225,000 and $450,000 as of September 30, 2016 and December 31, 2015 , respectively. Warranty Warranty reserves are accrued as home deliveries occur. Our warranty reserves on homes delivered will vary based on product type and geographic area and also depending on state and local laws. The warranty reserve is included in accrued expenses and other liabilities on our consolidated balance sheets and represents expected future costs based on our historical experience over previous years. Estimated warranty costs are charged to cost of home sales in the period in which the related home sales revenue is recognized. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to a significant majority of our subcontractors, which are enrolled in our general liability insurance policy. Included in our warranty reserve accrual are allowances to cover our estimated costs of self-insured retentions and deductible amounts under these policies and estimated costs for claims that may not be covered by applicable insurance or indemnities. Estimation of these accruals include consideration of our claims history, including current claims and estimates of claims incurred but not yet reported. In addition, management estimates warranty reserves and allowances necessary to cover any current or future construction-related claims based on actuarial analysis. Under this analysis, reserve amounts are estimated using our historical expense and claim data, as well as industry data. In addition, we record expected recoveries from insurance carriers when proceeds are probable and estimable. Outstanding warranty insurance receivables were $9.7 million and $10.5 million as of September 30, 2016 and December 31, 2015 , respectively. Warranty insurance receivables are recorded in receivables on the accompanying consolidated balance sheets. There can be no assurance that our warranty reserves will sufficiently cover the costs of future warranty claims made by homebuyers, that we will be able to renew our insurance coverage or renew it at reasonable rates, that we will not be liable for damages, cost of repairs, and/or the expense of litigation surrounding possible construction defects, soil subsidence or building related claims or that claims will not arise out of uninsurable events or circumstances not covered by insurance and not subject to effective indemnification agreements with certain subcontractors. Warranty reserves consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Warranty reserves, beginning of period $ 45,272 $ 35,375 $ 45,948 $ 33,270 Warranty reserves accrued 3,329 4,201 8,373 10,427 Adjustments to pre-existing reserves 200 (14 ) 460 1,286 Warranty expenditures (3,136 ) (2,819 ) (9,116 ) (8,240 ) Warranty reserves, end of period $ 45,665 $ 36,743 $ 45,665 $ 36,743 Performance Bonds We obtain surety bonds in the normal course of business to ensure completion of certain infrastructure improvements of our projects. As of September 30, 2016 and December 31, 2015 , the Company had outstanding surety bonds totaling $433.6 million and $414.1 million , respectively. The beneficiaries of the bonds are various municipalities.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2013 Long-Term Incentive Plan The Company’s stock compensation plan, the 2013 Long-Term Incentive Plan (the “2013 Incentive Plan”), was adopted by TRI Pointe in January 2013 and amended, with the approval of our stockholders, in 2014 and 2015. In addition, our board of directors amended the 2013 Incentive Plan in 2014 to prohibit repricing (other than in connection with any equity restructuring or any change in capitalization) of outstanding options or stock appreciation rights without stockholder approval. The 2013 Incentive Plan provides for the grant of equity-based awards, including options to purchase shares of common stock, stock appreciation rights, bonus stock, restricted stock, restricted stock units and performance awards. The 2013 Incentive Plan will automatically expire on the tenth anniversary of its effective date. Our board of directors may terminate or amend the 2013 Incentive Plan at any time, subject to any requirement of stockholder approval required by applicable law, rule or regulation. As amended, the number of shares of our common stock that may be issued under the 2013 Incentive Plan is 11,727,833 shares. To the extent that shares of our common stock subject to an outstanding option, stock appreciation right, stock award or performance award granted under the 2013 Incentive Plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or the settlement of such award in cash, then such shares of our common stock generally shall again be available under the 2013 Incentive Plan. As of September 30, 2016 there were 7,604,642 shares available for future grant under the 2013 Incentive Plan. Converted Awards On July 16, 2014, the Company filed a registration statement on Form S-8 (Registration No. 333-197461) to register 4,105,953 shares of common stock related to converted equity awards issued in connection with the Company's acquisition of WRECO. The converted awards have the same terms and conditions as the prior equity awards except that all performance share units were surrendered in exchange for time-vesting restricted stock units without any performance-based vesting conditions or requirements and the exercise price of each converted stock option is equal to the original exercise price divided by an exchange ratio of 2.1107 , rounded down to the nearest whole number of shares of common stock. There will be no future grants under the WRECO equity incentive plans. The following table presents compensation expense recognized related to all stock-based awards (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Total stock-based compensation $ 3,285 $ 2,994 $ 9,648 $ 8,536 Stock-based compensation is charged to general and administrative expense on the accompanying consolidated statements of operations. As of September 30, 2016 , total unrecognized stock-based compensation related to all stock-based awards was $20.3 million and the weighted average term over which the expense was expected to be recognized was 1.9 years . Summary of Stock Option Activity The following table presents a summary of stock option awards for the nine months ended September 30, 2016 : Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Options outstanding at December 31, 2015 3,220,147 $ 13.12 5.2 $ 3,081 Granted — — — — Exercised (79,689 ) 9.89 — — Forfeited (155,380 ) 12.39 — — Options outstanding at September 30, 2016 2,985,078 13.24 4.6 3,282 Options exercisable at September 30, 2016 2,616,544 13.05 4.3 3,282 The intrinsic value of each stock option award outstanding or exercisable is the difference between the fair market value of the Company’s common stock at the end of the period and the exercise price of each stock option award to the extent it is considered “in-the-money”. A stock option award is considered to be “in-the-money” if the fair market value of the Company’s stock is greater than the exercise price of the stock option award. The aggregate intrinsic value of options outstanding and options exercisable represents the value that would have been received by the holders of stock option awards had they exercised their stock option award on the last trading day of the period and sold the underlying shares at the closing price on that day. Summary of Restricted Stock Unit Activity The following table presents a summary of restricted stock units (“RSUs”) for the nine months ended September 30, 2016 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Aggregate Intrinsic Value (in thousands) Nonvested RSUs at December 31, 2015 1,958,033 $ 12.21 $ 24,808 Granted 1,904,389 8.41 25,100 Vested (431,758 ) 14.53 — Forfeited (19,781 ) 12.17 — Nonvested RSUs at September 30, 2016 3,410,883 9.77 44,993 On March 5, 2015, the Company granted an aggregate of 440,800 time-vested RSUs to employees and officers. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three years period. The fair value of each RSU granted on March 5, 2015 was measured using a price of $14.97 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. On March 9, 2015, the Company granted 411,804 , 384,351 , and 274,536 performance-based RSUs to the Company’s Chief Executive Officer, President, and Chief Financial Officer, respectively, with 1/3 of the performance-based RSU amounts being allocated to each of the three following separate performance goals: total shareholder return (compared to a group of peer homebuilding companies); earnings per share; and stock price. The performance-based RSUs granted will vest in each case, if at all, based on the percentage of attainment of the applicable performance goal. The performance periods for the performance-based RSUs with vesting based on total shareholder return and earnings per share are January 1, 2015 to December 31, 2017 . The performance period for the performance-based RSUs with vesting based on stock price is January 1, 2016 to December 31, 2017 . The fair value of the performance-based RSUs related to the total shareholder return and stock price performance goals was determined to be $7.55 and $7.90 per share, respectively, based on a Monte Carlo simulation. The fair value of the performance-based RSUs related to the earnings per share goal was measured using a price of $14.57 per share, which was the closing stock price on the date of grant. Each grant will be expensed over the requisite service period. On August 12, 2015, the Company granted an aggregate of 69,008 RSUs to the non-employee members of its board of directors. These RSUs vested in their entirety on June 6, 2016. The fair value of each RSU granted on August 12, 2015 was measured using $14.49 per share, which was the closing price on the date of grant. Each award was expensed on a straight-line basis over the vesting period. On March 1, 2016, the Company granted an aggregate of 1,120,677 time-vested RSUs to employees and officers. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three year period. The fair value of each RSU granted on March 1, 2016 was measured using a price of $10.49 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. On March 1, 2016, the Company granted 297,426 , 285,986 and 125,834 performance-based RSUs to the Company’s Chief Executive Officer, President, and Chief Financial Officer, respectively. The vesting, if at all, of these performance-based RSUs may range from 0% to 100% and will be based on the Company’s percentage attainment of specified threshold, target and maximum performance goals. The percentage of these performance-based RSUs that vest will be determined by comparing the Company’s total stockholder return to the total stockholder returns of a group of peer homebuilding companies. The performance period for these performance-based RSUs is January 1, 2016 to December 31, 2018 . These performance-based RSUs will not vest if the Company’s total stockholder return from January 1, 2016 to December 31, 2018 is not a positive number, provided that the executive will thereafter become vested in the award units, or portion thereof, that would have otherwise vested on December 31, 2018 if on any day after December 31, 2018 and on or before December 31, 2020, the Company’s total stockholder return is greater than zero and the executive is employed by the Company on that date. If the performance-based RSUs have not vested on or before December 31, 2020, such performance-based RSUs shall be cancelled and forfeited for no consideration. The fair value of these performance-based RSUs was determined to be $4.76 per share based on a Monte Carlo simulation. Each award will be expensed over the requisite service period. On June 6, 2016, the Company granted an aggregate of 74,466 RSUs to the non-employee members of its board of directors. These RSUs vest in their entirety on the day immediately prior to the Company's 2017 Annual Meeting of Stockholders. The fair value of each RSU granted on June 6, 2016 was measured using a price of $11.75 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period. As RSUs vest for employees, a portion of the shares awarded is generally withheld to cover employee tax withholdings. As a result, the number of RSUs vested and the number of shares of TRI Pointe common stock issued will differ.

Stock Repurchase Program

Stock Repurchase Program	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stock Repurchase Program	Stock Repurchase Program On January 27, 2016, the Company announced that the board of directors approved a stock repurchase program, authorizing the repurchase of the Company’s common stock with an aggregate value of up to $100 million through January 25, 2017. Purchases of common stock may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or by other means in accordance with federal securities laws, including pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Exchange Act. We are not obligated under the program to repurchase any specific number or amount of shares of common stock, and we may modify, suspend or discontinue the program at any time. Our management will determine the timing and amount of repurchase in its discretion based on a variety of factors, such as the market price of our common stock, corporate requirements, general market economic conditions and legal requirements. For the three months ended September 30, 2016 , 852,500 shares of our common stock were repurchased and retired under this program at an average price of $12.22 per share for a total cost of $10.4 million . For the nine months ended September 30, 2016 , 2,105,521 shares of our common stock were repurchased and retired under this program at an average price of $11.93 per share for a total of cost of $25.1 million . Subsequent to September 30, 2016 and through the date of this filing, the Company repurchased and retired an additional 618,532 shares of our common stock under this program at an average price of $12.43 per share for a total cost of $7.7 million .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”), which requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statements and tax bases of assets and liabilities using enacted tax rates for the years in which taxes are expected to be paid or recovered. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our current and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods and tax planning alternatives. We had net deferred tax assets of $111.9 million and $130.7 million as of September 30, 2016 and December 31, 2015 , respectively. We had a valuation allowance related to those net deferred tax assets of $3.5 million and $4.4 million as of September 30, 2016 and December 31, 2015 , respectively. The Company will continue to evaluate both positive and negative evidence in determining the need for a valuation allowance against its deferred tax assets. Changes in positive and negative evidence, including differences between the Company's future operating results and the estimates utilized in the determination of the valuation allowance, could result in changes in the Company's estimate of the valuation allowance against its deferred tax assets. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company's consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation allowance against the Company's deferred tax assets. TRI Pointe has certain liabilities with Weyerhaeuser related to a tax sharing agreement. As of September 30, 2016 and December 31, 2015 , we had an income tax liability to Weyerhaeuser of $9.0 million and $8.9 million , respectively, which is recorded in accrued expenses and other liabilities on the accompanying consolidated balance sheets. Our provision for income taxes totaled $20.3 million and $28.0 million for the three months ended September 30, 2016 and 2015, respectively. Our provision for income taxes totaled $77.7 million and $66.1 million for the nine months ended September 30, 2016 and 2015 , respectively. The Company classifies any interest and penalties related to income taxes assessed by jurisdiction as part of income tax expense. The Company had zero and $307,000 of liabilities for uncertain tax positions recorded as of September 30, 2016 and December 31, 2015 , respectively. The Company has not been assessed interest or penalties by any major tax jurisdictions related to prior years.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In January of 2015, TRI Pointe acquired 46 lots located in Castle Rock, Colorado, for a purchase price of approximately $2.8 million , from an entity managed by an affiliate of Starwood Capital Group, a greater than 5% holder of our common stock. TRI Pointe’s Chairman of the Board is also the Chairman and Chief Executive Officer of Starwood Capital Group. This acquisition was approved by the TRI Pointe independent directors. In August of 2016, TRI Pointe entered into an agreement to purchase an additional 257 lots located in Castle Rock, Colorado, for a purchase price of approximately $8.6 million from an entity managed by an affiliate of Starwood Capital Group. This acquisition was approved by the TRI Pointe independent directors. In October of 2015, TRI Pointe entered into an agreement with an affiliate of BlackRock, Inc. to acquire 161 lots located in Dublin, California, for a purchase price of approximately $60 million . BlackRock, Inc. is a greater than five percent holder of our common stock. This acquisition was approved by the executive land committee, which was comprised of independent directors. In September of 2016, we acquired an additional 45 lots located in Dublin, California, for a purchase price of approximately $10.0 million from an affiliate of BlackRock, Inc. This acquisition was approved by a majority of the TRI Pointe independent directors.

Supplemental Disclosure to Cons

Supplemental Disclosure to Consolidated Statements of Cash Flows	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure to Consolidated Statements of Cash Flow	Supplemental Disclosure to Consolidated Statements of Cash Flows The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Nine Months Ended September 30, 2016 2015 Supplemental disclosure of cash flow information: Cash paid during the period for: Interest, net of amounts capitalized of $50,030 and $45,779 (Note 6) $ — $ — Income taxes $ 89,269 $ 44,394 Supplemental disclosures of noncash activities: Amortization of senior note discount capitalized to real estate inventory $ 1,321 $ 1,155 Amortization of deferred loan costs capitalized to real estate inventory $ 2,865 $ 2,690 Effect of net consolidation and de-consolidation of variable interest entities: Increase (decrease) in consolidated real estate inventory not owned $ 3,484 $ (3,556 ) Increase in deposits on real estate under option or contract and other assets $ — $ 300 (Increase) decrease in noncontrolling interests $ (3,484 ) $ 3,256

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Information	Supplemental Guarantor Information 2021 Notes On May 26, 2016, TRI Pointe Group issued the 2021 Notes. All of TRI Pointe Group’s 100% owned subsidiaries that are guarantors (each a “Guarantor” and, collectively, the “Guarantors”) of the Company’s Credit Facility, including TRI Pointe Homes and certain other of its 100% owned subsidiaries, are party to a supplemental indenture pursuant to which they jointly and severally guarantee TRI Pointe Group’s obligations with respect to the 2021 Notes. Each Guarantor of the 2021 Notes is 100% owned by TRI Pointe Group, and all guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing the 2021 Notes, as described in the following paragraph. All of our non-Guarantor subsidiaries have nominal assets and operations and are considered minor, as defined in Rule 3-10(h) of Regulation S-X. In addition, TRI Pointe Group has no independent assets or operations, as defined in Rule 3-10(h) of Regulation S-X. There are no significant restrictions upon the ability of TRI Pointe Group or any Guarantor to obtain funds from any of their respective wholly owned subsidiaries by dividend or loan. None of the assets of our subsidiaries represent restricted net assets pursuant to Rule 4-08(e)(3) of Regulation S-X. A Guarantor of the 2021 Notes shall be released from all of its obligations under its guarantee if (i) all of the assets of the Guarantor have been sold; (ii) all of the equity interests of the Guarantor held by TRI Pointe Group or a subsidiary thereof have been sold; (iii) the Guarantor merges with and into TRI Pointe Group or another Guarantor, with TRI Pointe Group or such other Guarantor surviving the merger; (iv) the Guarantor is designated “unrestricted” for covenant purposes; (v) the Guarantor ceases to guarantee any indebtedness of TRI Pointe Group or any other Guarantor which gave rise to such Guarantor guaranteeing the 2021 Notes; (vi) TRI Pointe Group exercises its legal defeasance or covenant defeasance options; or (vii) all obligations under the applicable supplemental indenture are discharged. 2019 Notes and 2024 Notes TRI Pointe Group and TRI Pointe Homes are co-issuers of the 2019 Notes and the 2024 Notes. All of the Guarantors (other than TRI Pointe Homes) have entered into supplemental indentures pursuant to which they jointly and severally guarantee the obligations of TRI Pointe Group and TRI Pointe Homes with respect to the 2019 Notes and the 2024 Notes. Each Guarantor of the 2019 Notes and the 2024 Notes is 100% owned by TRI Pointe Group and TRI Pointe Homes, and all guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing the 2019 Notes and the 2024 Notes, as described below. A Guarantor of the 2019 Notes and the 2024 Notes shall be released from all of its obligations under its guarantee if (i) all of the assets of the Guarantor have been sold; (ii) all of the equity interests of the Guarantor held by TRI Pointe or a subsidiary thereof have been sold; (iii) the Guarantor merges with and into TRI Pointe or another Guarantor, with TRI Pointe or such other Guarantor surviving the merger; (iv) the Guarantor is designated “unrestricted” for covenant purposes; (v) the Guarantor ceases to guarantee any indebtedness of TRI Pointe or any other Guarantor which gave rise to such Guarantor guaranteeing the 2019 Notes and 2024 Notes; (vi) TRI Pointe exercises its legal defeasance or covenant defeasance options; or (vii) all obligations under the applicable indenture are discharged. Presented below are the condensed consolidating balance sheets at September 30, 2016 and December 31, 2015 , condensed consolidating statements of operations for the three and nine months ended September 30, 2016 and 2015 and condensed consolidating statement of cash flows for the nine month periods ended September 30, 2016 and 2015 . Because TRI Pointe’s non-Guarantor subsidiaries are considered minor, as defined in Rule 3-10(h) of Regulation S-X, the non-Guarantor subsidiaries’ information is not separately presented in the tables below, but is included with the Guarantors. Additionally, because TRI Pointe Group has no independent assets or operations, as defined in Rule 3-10(h) of Regulation S-X, the condensed consolidated financial information of TRI Pointe Group and TRI Pointe Homes, the co-issuers of the 2019 Notes and 2024 Notes, is presented together in the column titled “Issuer” for all periods presented after July 7, 2015, the date of the Reorganization. Condensed Consolidating Balance Sheet (in thousands): September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 61,073 $ 67,642 $ — $ 128,715 Receivables 12,496 22,825 — 35,321 Intercompany receivables 856,866 — (856,866 ) — Real estate inventories 877,940 2,091,208 — 2,969,148 Investments in unconsolidated entities — 17,205 — 17,205 Goodwill and other intangible assets, net 156,604 5,025 — 161,629 Investments in subsidiaries 1,241,559 — (1,241,559 ) — Deferred tax assets, net 18,958 92,929 — 111,887 Other assets 9,266 56,732 — 65,998 Total Assets $ 3,234,762 $ 2,353,566 $ (2,098,425 ) $ 3,489,903 Liabilities Accounts payable $ 21,099 $ 56,568 $ — $ 77,667 Intercompany payables — 856,866 (856,866 ) — Accrued expenses and other liabilities 43,721 175,675 — 219,396 Unsecured revolving credit facility 200,000 — — 200,000 Seller financed loans 17,758 — — 17,758 Senior notes 1,166,724 — — 1,166,724 Total Liabilities 1,449,302 1,089,109 (856,866 ) 1,681,545 Equity Total stockholders’ equity 1,785,460 1,241,559 (1,241,559 ) 1,785,460 Noncontrolling interests — 22,898 — 22,898 Total Equity 1,785,460 1,264,457 (1,241,559 ) 1,808,358 Total Liabilities and Equity $ 3,234,762 $ 2,353,566 $ (2,098,425 ) $ 3,489,903 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Balance Sheet (in thousands): December 31, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 147,771 $ 66,714 $ — $ 214,485 Receivables 17,358 26,352 — 43,710 Intercompany receivables 783,956 — (783,956 ) — Real estate inventories 657,221 1,862,052 — 2,519,273 Investments in unconsolidated entities — 18,999 — 18,999 Goodwill and other intangible assets, net 156,604 5,425 — 162,029 Investments in subsidiaries 1,093,261 — (1,093,261 ) — Deferred tax assets, net 19,061 111,596 — 130,657 Other assets 12,219 36,699 — 48,918 Total Assets $ 2,887,451 $ 2,127,837 $ (1,877,217 ) $ 3,138,071 Liabilities Accounts payable $ 20,444 $ 44,396 $ — $ 64,840 Intercompany payables — 783,956 (783,956 ) — Accrued expenses and other liabilities 32,219 184,044 — 216,263 Unsecured revolving credit facility 299,392 — — 299,392 Seller financed loans 2,034 400 — 2,434 Senior notes 868,679 — — 868,679 Total Liabilities 1,222,768 1,012,796 (783,956 ) 1,451,608 Equity Total stockholders’ equity 1,664,683 1,093,261 (1,093,261 ) 1,664,683 Noncontrolling interests — 21,780 — 21,780 Total Equity 1,664,683 1,115,041 (1,093,261 ) 1,686,463 Total Liabilities and Equity $ 2,887,451 $ 2,127,837 $ (1,877,217 ) $ 3,138,071 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Three Months Ended September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 167,769 $ 410,884 $ — $ 578,653 Land and lot sales revenue — 2,535 — 2,535 Other operations revenue — 606 — 606 Total revenues 167,769 414,025 — 581,794 Cost of home sales 144,217 318,106 — 462,323 Cost of land and lot sales — 1,734 — 1,734 Other operations expense — 575 — 575 Sales and marketing 6,598 25,254 — 31,852 General and administrative 15,192 15,958 — 31,150 Restructuring charges — 128 — 128 Homebuilding income from operations 1,762 52,270 — 54,032 Equity in loss of unconsolidated entities — (20 ) — (20 ) Other (loss) income, net (345 ) 366 — 21 Homebuilding income before income taxes 1,417 52,616 — 54,033 Financial Services: Revenues — 235 — 235 Expenses — 72 — 72 Equity in income of unconsolidated entities — 1,247 — 1,247 Financial services income before income taxes — 1,410 — 1,410 Income before income taxes 1,417 54,026 — 55,443 Equity of net income of subsidiaries 34,639 — (34,639 ) — Provision for income taxes (1,222 ) (19,076 ) — (20,298 ) Net income 34,834 34,950 (34,639 ) 35,145 Net income attributable to noncontrolling interests — (311 ) — (311 ) Net income available to common stockholders $ 34,834 $ 34,639 $ (34,639 ) $ 34,834 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Three Months Ended September 30, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 224,244 $ 418,108 $ — $ 642,352 Land and lot sales revenue — 4,876 — 4,876 Other operations revenue — 613 — 613 Total revenues 224,244 423,597 — 647,841 Cost of home sales 182,754 324,789 — 507,543 Cost of land and lot sales — 3,451 — 3,451 Other operations expense — 570 — 570 Sales and marketing 7,286 22,752 — 30,038 General and administrative 12,942 13,794 — 26,736 Restructuring charges (83 ) 2,093 — 2,010 Homebuilding income from operations 21,345 56,148 — 77,493 Equity in loss of unconsolidated entities — (150 ) — (150 ) Other (loss) income, net (37 ) 84 — 47 Homebuilding income before income taxes 21,308 56,082 — 77,390 Financial Services: Revenues — 300 — 300 Expenses — 47 — 47 Equity in income of unconsolidated entities — 147 — 147 Financial services income before income taxes — 400 — 400 Income before income taxes 21,308 56,482 — 77,790 Equity of net income of subsidiaries 37,924 — (37,924 ) — Provision for income taxes (9,070 ) (18,951 ) — (28,021 ) Net income 50,162 37,531 (37,924 ) 49,769 Net income attributable to noncontrolling interests — 393 — 393 Net income available to common stockholders $ 50,162 $ 37,924 $ (37,924 ) $ 50,162 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Nine Months Ended September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 452,553 $ 1,106,080 $ — $ 1,558,633 Land and lot sales revenue — 70,204 — 70,204 Other operations revenue — 1,790 — 1,790 Total revenues 452,553 1,178,074 — 1,630,627 Cost of home sales 383,574 835,986 — 1,219,560 Cost of land and lot sales — 16,973 — 16,973 Other operations expense — 1,724 — 1,724 Sales and marketing 19,683 70,938 — 90,621 General and administrative 42,984 46,831 — 89,815 Restructuring charges — 478 — 478 Homebuilding income from operations 6,312 205,144 — 211,456 Equity in income of unconsolidated entities — 181 — 181 Other income, net 157 130 — 287 Homebuilding income before income taxes 6,469 205,455 — 211,924 Financial Services: Revenues — 762 — 762 Expenses — 183 — 183 Equity in income of unconsolidated entities — 3,246 — 3,246 Financial services income before income taxes — 3,825 — 3,825 Income before income taxes 6,469 209,280 — 215,749 Equity of net income of subsidiaries 135,024 — (135,024 ) — Provision for income taxes (4,183 ) (73,518 ) (77,701 ) Net income 137,310 135,762 (135,024 ) 138,048 Net income attributable to noncontrolling interests — (738 ) — (738 ) Net income available to common stockholders $ 137,310 $ 135,024 $ (135,024 ) $ 137,310 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Nine Months Ended September 30, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 461,654 $ 982,201 $ — $ 1,443,855 Land and lot sales revenue — 74,366 — 74,366 Other operations revenue — 2,213 — 2,213 Total revenues 461,654 1,058,780 — 1,520,434 Cost of home sales 376,100 773,091 — 1,149,191 Cost of land and lot sales — 17,324 — 17,324 Other operations expense — 1,704 — 1,704 Sales and marketing 17,714 61,244 — 78,958 General and administrative 38,874 44,276 — 83,150 Restructuring charges (169 ) 2,899 — 2,730 Homebuilding income from operations 29,135 158,242 — 187,377 Equity in loss of unconsolidated entities — (82 ) — (82 ) Other (loss) income, net (149 ) 421 — 272 Homebuilding income before income taxes 28,986 158,581 — 187,567 Financial Services: Revenues — 482 — 482 Expenses — 131 — 131 Equity in loss of unconsolidated entities — (2 ) — (2 ) Financial services loss before income taxes — 349 — 349 Income before income taxes 28,986 158,930 — 187,916 Equity of net income of subsidiaries 103,688 — (103,688 ) — Provision for income taxes (12,285 ) (53,803 ) — (66,088 ) Net income 120,389 105,127 (103,688 ) 121,828 Net income attributable to noncontrolling interests — (1,439 ) — (1,439 ) Net income available to common stockholders $ 120,389 $ 103,688 $ (103,688 ) $ 120,389 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Cash Flows (in thousands): Nine Months Ended September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities Net cash used in operating activities $ (186,487 ) $ (74,820 ) $ — $ (261,307 ) Cash flows from investing activities: Purchases of property and equipment (831 ) (1,225 ) — (2,056 ) Investments in unconsolidated entities — (32 ) — (32 ) Intercompany (82,951 ) — 82,951 — Net cash (used in) provided by investing activities (83,782 ) (1,257 ) 82,951 (2,088 ) Cash flows from financing activities: Borrowings from debt 491,069 — — 491,069 Repayment of debt (276,426 ) (400 ) — (276,826 ) Debt issuance costs (5,061 ) — — (5,061 ) Net repayments of debt held by variable interest entities — (2,442 ) — (2,442 ) Contributions from noncontrolling interests — 1,955 — 1,955 Distributions to noncontrolling interests — (5,059 ) — (5,059 ) Proceeds from issuance of common stock under share-based awards 461 — — 461 Minimum tax withholding paid on behalf of employees for restricted stock units (1,359 ) — — (1,359 ) Share repurchases (25,113 ) — — (25,113 ) Intercompany — 82,951 (82,951 ) — Net cash provided by (used in) financing activities 183,571 77,005 (82,951 ) 177,625 Net decrease in cash and cash equivalents (86,698 ) 928 — (85,770 ) Cash and cash equivalents - beginning of period 147,771 66,714 — 214,485 Cash and cash equivalents - end of period $ 61,073 $ 67,642 $ — $ 128,715 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Cash Flows (in thousands): Nine Months Ended September 30, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities Net cash used in operating activities $ (69,362 ) $ (70,649 ) $ — $ (140,011 ) Cash flows from investing activities: Purchases of property and equipment (382 ) (677 ) — (1,059 ) Investments in unconsolidated entities — (1,458 ) — (1,458 ) Distributions from unconsolidated entities — 319 — 319 Intercompany (78,354 ) — 78,354 — Net cash (used in) provided by investing activities (78,736 ) (1,816 ) 78,354 (2,198 ) Cash flows from financing activities: Borrowings from notes payable 140,000 — — 140,000 Repayment of notes payable (57,513 ) (200 ) — (57,713 ) Debt issuance costs (2,688 ) — — (2,688 ) Net proceeds of debt held by variable interest entities — (5,927 ) — (5,927 ) Contributions from noncontrolling interests — 4,281 — 4,281 Distributions to noncontrolling interests — (9,198 ) — (9,198 ) Proceeds from issuance of common stock under share-based awards 1,616 — — 1,616 Excess tax benefit of share-based awards — 392 — 392 Minimum tax withholding paid on behalf of employees for restricted stock units (2,190 ) — — (2,190 ) Intercompany — 78,354 (78,354 ) — Net cash provided by (used in) financing activities 79,225 67,702 (78,354 ) 68,573 Net decrease increase in cash and cash equivalents (68,873 ) (4,763 ) — (73,636 ) Cash and cash equivalents - beginning of period 105,888 64,741 — 170,629 Cash and cash equivalents - end of period $ 37,015 $ 59,978 $ — $ 96,993 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes

Organization, Basis of Presen27

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Organization, Formation of TRI Pointe Group and Basis of Presentation	Organization TRI Pointe Group is engaged in the design, construction and sale of innovative single-family attached and detached homes through its portfolio of six quality brands across eight states, including Maracay Homes in Arizona, Pardee Homes in California and Nevada, Quadrant Homes in Washington, Trendmaker Homes in Texas, TRI Pointe Homes in California and Colorado and Winchester Homes in Maryland and Virginia. Formation of TRI Pointe Group On July 7, 2015, TRI Pointe Homes reorganized its corporate structure (the “Reorganization”) whereby TRI Pointe Homes became a direct, wholly owned subsidiary of TRI Pointe Group. As a result of the Reorganization, each share of common stock, par value $0.01 per share, of TRI Pointe Homes (“Homes Common Stock”) was cancelled and converted automatically into the right to receive one validly issued, fully paid and non-assessable share of common stock, par value $0.01 per share, of TRI Pointe Group (“Group Common Stock”), each share having the same designations, rights, powers and preferences, and the qualifications, limitations and restrictions thereof as the shares of Homes Common Stock being so converted. TRI Pointe Group, as the successor issuer to TRI Pointe Homes (pursuant to Rule 12g-3(a) under the Exchange Act), began making filings under the Securities Act and the Exchange Act on July 7, 2015. In connection with the Reorganization, TRI Pointe Group (i) became a co-issuer of TRI Pointe Homes’ 4.375% Senior Notes due 2019 (the “2019 Notes”) and TRI Pointe Homes’ 5.875% Senior Notes due 2024 (the “2024 Notes”); and (ii) replaced TRI Pointe Homes as the borrower under TRI Pointe Homes’ existing unsecured revolving credit facility. Basis of Presentation The accompanying financial statements have been prepared in accordance with GAAP, as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, as well as other entities in which the Company has a controlling interest and variable interest entities (“VIEs”) in which the Company is the primary beneficiary. The noncontrolling interests as of September 30, 2016 and December 31, 2015 represent the outside owners’ interests in the Company’s consolidated entities and the net equity of the VIE owners. All significant intercompany accounts have been eliminated upon consolidation. In the opinion of management, all adjustments consisting of normal recurring adjustments, necessary for a fair presentation with respect to interim financial statements, have been included.
Use of Estimates	Use of Estimates Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.
Reclassifications	Reclassifications Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the performance obligations in the contract; and recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 supersedes the revenue-recognition requirements in ASC Topic 605, Revenue Recognition , most industry-specific guidance throughout the industry topics of the accounting standards codification, and some cost guidance related to construction-type and production-type contracts. On July 9, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year and it is now effective for public entities for the annual periods ending after December 15, 2017, and for annual and interim periods thereafter. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. Early adoption is permitted, but can be no earlier than the original public entity effective date of fiscal years, and the interim periods within those years, beginning after December 15, 2016. We are currently evaluating the approach for implementation and the potential impact of adopting this guidance on our consolidated financial statements. In August 2014, the FASB issued Accounting Standards Update No. 2014-15 (“ASU 2014-15”), Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern , which requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update No. 2015-02, (“ASU 2015-02”), Consolidation (Topic 810): Amendments to the Consolidation Analysis. ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. We adopted ASU 2015-02 on January 1, 2016 and the adoption had no impact on our current or prior year financial statements. In November 2015, the FASB issued Accounting Standards Update No. 2015-17, (“ASU 2015-17”), Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred tax liabilities and assets be classified as noncurrent in a classified statement of position. ASU 2015-17 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The adoption of ASU 2015-17 is not expected to have a material effect on our consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, (“ASU 2016-02”), Leases (Topic 842): Leases , which requires an entity to recognize assets and liabilities on the balance sheet for the rights and obligations created by leased assets and provide additional disclosures. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and, at that time, we will adopt the new standard using a modified retrospective approach. We are currently evaluating the impact that the adoption of ASU 2016-02 may have on our consolidated financial statements and disclosures. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, (“ASU 2016-09”), Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. We are currently evaluating the impact that the adoption of ASU 2016-09 may have on our consolidated financial statements and disclosures. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, (“ASU 2016-15”), Statement of Cash Flows (Topic 230) : Classification of Certain Cash Receipts and Cash Payments, which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted. We are currently evaluating the impact that adoption of ASU 2016-15 may have on our consolidated financial statements and disclosures.
Segment Reporting	In accordance with ASC Topic 280, Segment Reporting , in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, and underlying demand and supply.
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures , defines “fair value” as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories: • Level 1—Quoted prices for identical instruments in active markets • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date • Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2016
Restructuring Cost And Reserve [Line Items]
Schedule of Restructuring Charges	Restructuring charges were comprised of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Employee-related charges $ 5 $ 1,433 $ 30 $ 1,568 Lease termination charges 123 577 448 1,162 Total $ 128 $ 2,010 $ 478 $ 2,730
Employee-Related Restructuring Reserves [Member]
Restructuring Cost And Reserve [Line Items]
Schedule of Changes in Restructuring Reserves	Changes in employee-related restructuring reserves were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Accrued employee-related charges, beginning of period $ 100 $ 109 $ 220 $ 3,844 Current year charges 5 1,433 30 1,568 Payments (20 ) (1,087 ) (165 ) (4,957 ) Accrued employee-related charges, end of period $ 85 $ 455 $ 85 $ 455
Lease Termination Restructuring Reserves [Member]
Restructuring Cost And Reserve [Line Items]
Schedule of Changes in Restructuring Reserves	Changes in lease termination related restructuring reserves were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Accrued lease termination charges, beginning of period $ 447 $ 644 $ 767 $ 1,394 Current year charges 123 577 448 1,162 Payments (352 ) (705 ) (997 ) (2,040 ) Accrued lease termination charges, end of period $ 218 $ 516 $ 218 $ 516

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Summary of Financial Information Relating to Reportable Segments	Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Revenues Maracay Homes $ 68,024 $ 50,505 $ 161,318 $ 116,556 Pardee Homes 188,148 172,957 547,311 424,680 Quadrant Homes 48,354 48,173 153,575 132,698 Trendmaker Homes 64,251 81,044 172,509 203,235 TRI Pointe Homes 167,769 224,244 452,553 461,654 Winchester Homes 45,248 70,918 143,361 181,611 Total homebuilding revenues 581,794 647,841 1,630,627 1,520,434 Financial services 235 300 762 482 Total $ 582,029 $ 648,141 $ 1,631,389 $ 1,520,916 Income (loss) before income taxes Maracay Homes $ 4,385 $ 3,687 $ 9,544 $ 5,820 Pardee Homes 37,508 39,776 165,718 121,112 Quadrant Homes 5,497 3,850 14,808 6,176 Trendmaker Homes 3,516 7,214 9,439 17,525 TRI Pointe Homes 11,723 29,561 34,651 55,295 Winchester Homes 1,692 1,557 6,345 7,948 Corporate (10,288 ) (8,255 ) (28,581 ) (26,309 ) Total homebuilding income before income taxes 54,033 77,390 211,924 187,567 Financial services 1,410 400 3,825 349 Total $ 55,443 $ 77,790 $ 215,749 $ 187,916 Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands): September 30, 2016 December 31, 2015 Real estate inventories Maracay Homes $ 252,094 $ 206,912 Pardee Homes 1,109,262 1,011,982 Quadrant Homes 217,430 190,038 Trendmaker Homes 221,201 199,398 TRI Pointe Homes 877,941 659,130 Winchester Homes 291,220 251,813 Total $ 2,969,148 $ 2,519,273 Total assets Maracay Homes $ 272,928 $ 227,857 Pardee Homes 1,182,282 1,089,586 Quadrant Homes 237,959 202,024 Trendmaker Homes 236,618 213,562 TRI Pointe Homes 1,047,975 832,423 Winchester Homes 314,069 278,374 Corporate 192,654 292,169 Total homebuilding assets 3,484,485 3,135,995 Financial services 5,418 2,076 Total $ 3,489,903 $ 3,138,071

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net income available to common stockholders $ 34,834 $ 50,162 $ 137,310 $ 120,389 Denominator: Basic weighted-average shares outstanding 160,614,055 161,772,893 161,456,520 161,651,177 Effect of dilutive shares: Stock options and unvested restricted stock units 653,454 593,851 459,832 648,105 Diluted weighted-average shares outstanding 161,267,509 162,366,744 161,916,352 162,299,282 Earnings per share Basic $ 0.22 $ 0.31 $ 0.85 $ 0.74 Diluted $ 0.22 $ 0.31 $ 0.85 $ 0.74 Antidilutive stock options and unvested restricted stock not included in diluted earnings per share 3,806,396 2,260,532 4,551,337 2,462,268

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Components of Receivables	Receivables consisted of the following (in thousands): September 30, 2016 December 31, 2015 Escrow proceeds and other accounts receivable, net $ 25,619 $ 32,917 Warranty insurance receivable (Note 14) 9,702 10,493 Notes and contracts receivable — 300 Total receivables $ 35,321 $ 43,710

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Summary of Real Estate Inventories	Real estate inventories consisted of the following (in thousands): September 30, 2016 December 31, 2015 Real estate inventories owned: Homes completed or under construction $ 757,707 $ 575,076 Land under development 1,720,126 1,443,461 Land held for future development 298,841 295,241 Model homes 140,566 140,232 Total real estate inventories owned 2,917,240 2,454,010 Real estate inventories not owned: Land purchase and land option deposits 29,608 39,055 Consolidated inventory held by VIEs 22,300 26,208 Total real estate inventories not owned 51,908 65,263 Total real estate inventories $ 2,969,148 $ 2,519,273
Summary of Interest Incurred, Capitalized and Expensed	Interest incurred, capitalized and expensed were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Interest incurred $ 18,601 $ 15,454 $ 50,030 $ 45,779 Interest capitalized (18,601 ) (15,454 ) (50,030 ) (45,779 ) Interest expensed $ — $ — $ — $ — Capitalized interest in beginning inventory $ 151,347 $ 140,106 $ 140,311 $ 124,461 Interest capitalized as a cost of inventory 18,601 15,454 50,030 45,779 Interest previously capitalized as a cost of inventory, included in cost of sales (14,415 ) (13,339 ) (34,808 ) (28,019 ) Capitalized interest in ending inventory $ 155,533 $ 142,221 $ 155,533 $ 142,221
Schedule of Land and Lot Option Abandonments and Pre-acquisition Charges	Land and lot option abandonments and pre-acquisition charges were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Real estate inventory impairments $ — $ 29 $ — $ 1,073 Land and lot option abandonments and pre-acquisition charges 389 336 678 830 Total $ 389 $ 365 $ 678 $ 1,903

Investments in Unconsolidated33

Investments in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Cumulative Investment in Entities on Equity Method, Including Share of Earnings and Losses	Our cumulative investment in entities accounted for on the equity method, including our share of earnings and losses, consisted of the following (in thousands): September 30, 2016 December 31, 2015 Limited liability company interests $ 13,946 $ 15,739 General partnership interests 3,259 3,260 Total $ 17,205 $ 18,999
Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments	Assets and liabilities of unconsolidated entities (in thousands): September 30, 2016 December 31, 2015 Assets Cash $ 11,945 $ 18,641 Receivables 10,038 13,108 Real estate inventories 96,654 92,881 Other assets 1,065 1,180 Total assets $ 119,702 $ 125,810 Liabilities and equity Accounts payable and other liabilities $ 12,932 $ 14,443 Company’s equity 17,205 18,999 Outside interests' equity 89,565 92,368 Total liabilities and equity $ 119,702 $ 125,810 Results of operations from unconsolidated entities (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net sales $ 4,619 $ 1,217 $ 12,516 $ 2,670 Other operating expense (2,913 ) (1,479 ) (8,067 ) (4,020 ) Other income (loss) 1 (263 ) 3 (256 ) Net income (loss) $ 1,707 $ (525 ) $ 4,452 $ (1,606 ) Company’s equity in income (loss) of unconsolidated entities $ 1,227 $ (3 ) $ 3,427 $ (84 )

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Interests in Land Option Agreements	The following provides a summary of our interests in land and lot option agreements (in thousands): September 30, 2016 December 31, 2015 Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Consolidated VIEs $ 600 $ 21,700 $ 22,300 $ 3,003 $ 23,239 $ 26,208 Unconsolidated VIEs 2,170 58,135 N/A 11,615 74,590 N/A Other land option agreements 27,438 365,224 N/A 27,440 279,612 N/A Total $ 30,208 $ 445,059 $ 22,300 $ 42,058 $ 377,441 $ 26,208

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Other Intangible Assets	Goodwill and other intangible assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Goodwill $ 139,304 $ — $ 139,304 $ 139,304 $ — $ 139,304 Trade names 27,979 (5,654 ) 22,325 27,979 (5,254 ) 22,725 Total $ 167,283 $ (5,654 ) $ 161,629 $ 167,283 $ (5,254 ) $ 162,029
Schedule of Expected Amortization of Intangible Asset	Expected amortization of our intangible asset related to Maracay Homes for the remainder of 2016, the next four years and thereafter is (in thousands): Remainder of 2016 $ 134 2017 534 2018 534 2019 534 2020 534 Thereafter 2,755 Total $ 5,025

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Prepaid expenses $ 14,899 $ 14,523 Refundable fees and other deposits 21,695 17,056 Development rights, held for future use or sale 4,227 4,360 Deferred loan costs - unsecured revolving credit facility 2,319 2,179 Operating properties and equipment, net 9,525 7,643 Income tax receivable 10,633 — Other 2,700 3,157 Total $ 65,998 $ 48,918

Accrued Expenses and Other Li37

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): September 30, 2016 December 31, 2015 Accrued payroll and related costs $ 23,126 $ 28,264 Warranty reserves (Note 14) 45,665 45,948 Estimated cost for completion of real estate inventories 53,218 52,818 Customer deposits 19,428 12,132 Debt (nonrecourse) held by VIEs — 2,442 Income tax liability to Weyerhaeuser (Note 17) 8,999 8,900 Accrued income taxes payable — 19,279 Liability for uncertain tax positions (Note 17) — 307 Accrued interest 19,240 2,417 Accrued insurance expense 2,529 1,402 Other tax liability 30,459 21,764 Other 16,732 20,590 Total $ 219,396 $ 216,263

Senior Notes, Unsecured Revol38

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Senior Notes	The Senior Notes consisted of the following (in thousands): September 30, 2016 December 31, 2015 4.375% Senior Notes due June 15, 2019 $ 450,000 $ 450,000 4.875% Senior Notes due July 1, 2021 300,000 — 5.875% Senior Notes due June 15, 2024 450,000 450,000 Discount and deferred loan costs (33,276 ) (31,321 ) Total $ 1,166,724 $ 868,679
Components of Unsecured Revolving Credit Facility	Unsecured revolving credit facility consisted of the following (in thousands): September 30, 2016 December 31, 2015 Unsecured revolving credit facility $ 200,000 $ 299,392
Components of Seller Financed Loans	Seller financed loans consisted of the following (in thousands): September 30, 2016 December 31, 2015 Seller financed loans $ 17,758 $ 2,434

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis	A summary of assets and liabilities at September 30, 2016 and December 31, 2015 , related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands): September 30, 2016 December 31, 2015 Hierarchy Book Value Fair Value Book Value Fair Value Senior Notes (1) Level 2 $ 1,188,686 $ 1,235,250 $ 889,054 $ 881,460 Unsecured revolving credit facility (2) Level 2 $ 200,000 $ 192,772 $ 299,392 $ 299,392 Seller financed loans (3) Level 2 $ 17,758 $ 17,758 $ 2,434 $ 2,368 __________ (1) The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $22.0 million and $20.4 million as of September 30, 2016 and December 31, 2015 , respectively. The estimated fair value of the Senior Notes at September 30, 2016 and December 31, 2015 is based on quoted market prices. (2) The estimated fair value of the Credit Facility at September 30, 2016 is based on a treasury curve analysis. We believe that the carrying value of the Credit Facility approximated fair value at December 31, 2015 due to the short term nature of the current rate amended on May 18, 2015. (3) The estimated fair value of the seller financed loans at September 30, 2016 and December 31, 2015 is based on a treasury curve analysis.
Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis	The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands): Nine Months Ended September 30, 2016 Year Ended December 31, 2015 Impairment Charge Fair Value Net of Impairment Impairment Charge Fair Value Net of Impairment Real estate inventories (1) $ — $ — $ 1,167 $ 28,540 _______________ (1) Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respective periods presented. The fair value of these real estate inventories impaired was determined based on recent offers received from outside third parties or actual contracts.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Warranty Reserves	Warranty reserves consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Warranty reserves, beginning of period $ 45,272 $ 35,375 $ 45,948 $ 33,270 Warranty reserves accrued 3,329 4,201 8,373 10,427 Adjustments to pre-existing reserves 200 (14 ) 460 1,286 Warranty expenditures (3,136 ) (2,819 ) (9,116 ) (8,240 ) Warranty reserves, end of period $ 45,665 $ 36,743 $ 45,665 $ 36,743

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Compensation Expense Recognized Related to all Stock-Based Awards	The following table presents compensation expense recognized related to all stock-based awards (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Total stock-based compensation $ 3,285 $ 2,994 $ 9,648 $ 8,536
Summary of Stock Option Awards	The following table presents a summary of stock option awards for the nine months ended September 30, 2016 : Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Options outstanding at December 31, 2015 3,220,147 $ 13.12 5.2 $ 3,081 Granted — — — — Exercised (79,689 ) 9.89 — — Forfeited (155,380 ) 12.39 — — Options outstanding at September 30, 2016 2,985,078 13.24 4.6 3,282 Options exercisable at September 30, 2016 2,616,544 13.05 4.3 3,282
Summary of Restricted Stock Units	The following table presents a summary of restricted stock units (“RSUs”) for the nine months ended September 30, 2016 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Aggregate Intrinsic Value (in thousands) Nonvested RSUs at December 31, 2015 1,958,033 $ 12.21 $ 24,808 Granted 1,904,389 8.41 25,100 Vested (431,758 ) 14.53 — Forfeited (19,781 ) 12.17 — Nonvested RSUs at September 30, 2016 3,410,883 9.77 44,993

Supplemental Disclosure to Co42

Supplemental Disclosure to Consolidated Statements of Cash Flows (Tables)	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure to Consolidated Statements of Cash Flows	The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Nine Months Ended September 30, 2016 2015 Supplemental disclosure of cash flow information: Cash paid during the period for: Interest, net of amounts capitalized of $50,030 and $45,779 (Note 6) $ — $ — Income taxes $ 89,269 $ 44,394 Supplemental disclosures of noncash activities: Amortization of senior note discount capitalized to real estate inventory $ 1,321 $ 1,155 Amortization of deferred loan costs capitalized to real estate inventory $ 2,865 $ 2,690 Effect of net consolidation and de-consolidation of variable interest entities: Increase (decrease) in consolidated real estate inventory not owned $ 3,484 $ (3,556 ) Increase in deposits on real estate under option or contract and other assets $ — $ 300 (Increase) decrease in noncontrolling interests $ (3,484 ) $ 3,256

Supplemental Guarantor Inform43

Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet (in thousands): September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 61,073 $ 67,642 $ — $ 128,715 Receivables 12,496 22,825 — 35,321 Intercompany receivables 856,866 — (856,866 ) — Real estate inventories 877,940 2,091,208 — 2,969,148 Investments in unconsolidated entities — 17,205 — 17,205 Goodwill and other intangible assets, net 156,604 5,025 — 161,629 Investments in subsidiaries 1,241,559 — (1,241,559 ) — Deferred tax assets, net 18,958 92,929 — 111,887 Other assets 9,266 56,732 — 65,998 Total Assets $ 3,234,762 $ 2,353,566 $ (2,098,425 ) $ 3,489,903 Liabilities Accounts payable $ 21,099 $ 56,568 $ — $ 77,667 Intercompany payables — 856,866 (856,866 ) — Accrued expenses and other liabilities 43,721 175,675 — 219,396 Unsecured revolving credit facility 200,000 — — 200,000 Seller financed loans 17,758 — — 17,758 Senior notes 1,166,724 — — 1,166,724 Total Liabilities 1,449,302 1,089,109 (856,866 ) 1,681,545 Equity Total stockholders’ equity 1,785,460 1,241,559 (1,241,559 ) 1,785,460 Noncontrolling interests — 22,898 — 22,898 Total Equity 1,785,460 1,264,457 (1,241,559 ) 1,808,358 Total Liabilities and Equity $ 3,234,762 $ 2,353,566 $ (2,098,425 ) $ 3,489,903 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Balance Sheet (in thousands): December 31, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 147,771 $ 66,714 $ — $ 214,485 Receivables 17,358 26,352 — 43,710 Intercompany receivables 783,956 — (783,956 ) — Real estate inventories 657,221 1,862,052 — 2,519,273 Investments in unconsolidated entities — 18,999 — 18,999 Goodwill and other intangible assets, net 156,604 5,425 — 162,029 Investments in subsidiaries 1,093,261 — (1,093,261 ) — Deferred tax assets, net 19,061 111,596 — 130,657 Other assets 12,219 36,699 — 48,918 Total Assets $ 2,887,451 $ 2,127,837 $ (1,877,217 ) $ 3,138,071 Liabilities Accounts payable $ 20,444 $ 44,396 $ — $ 64,840 Intercompany payables — 783,956 (783,956 ) — Accrued expenses and other liabilities 32,219 184,044 — 216,263 Unsecured revolving credit facility 299,392 — — 299,392 Seller financed loans 2,034 400 — 2,434 Senior notes 868,679 — — 868,679 Total Liabilities 1,222,768 1,012,796 (783,956 ) 1,451,608 Equity Total stockholders’ equity 1,664,683 1,093,261 (1,093,261 ) 1,664,683 Noncontrolling interests — 21,780 — 21,780 Total Equity 1,664,683 1,115,041 (1,093,261 ) 1,686,463 Total Liabilities and Equity $ 2,887,451 $ 2,127,837 $ (1,877,217 ) $ 3,138,071 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes
Condensed Consolidating Statement of Operations	Condensed Consolidating Statement of Operations (in thousands): Three Months Ended September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 167,769 $ 410,884 $ — $ 578,653 Land and lot sales revenue — 2,535 — 2,535 Other operations revenue — 606 — 606 Total revenues 167,769 414,025 — 581,794 Cost of home sales 144,217 318,106 — 462,323 Cost of land and lot sales — 1,734 — 1,734 Other operations expense — 575 — 575 Sales and marketing 6,598 25,254 — 31,852 General and administrative 15,192 15,958 — 31,150 Restructuring charges — 128 — 128 Homebuilding income from operations 1,762 52,270 — 54,032 Equity in loss of unconsolidated entities — (20 ) — (20 ) Other (loss) income, net (345 ) 366 — 21 Homebuilding income before income taxes 1,417 52,616 — 54,033 Financial Services: Revenues — 235 — 235 Expenses — 72 — 72 Equity in income of unconsolidated entities — 1,247 — 1,247 Financial services income before income taxes — 1,410 — 1,410 Income before income taxes 1,417 54,026 — 55,443 Equity of net income of subsidiaries 34,639 — (34,639 ) — Provision for income taxes (1,222 ) (19,076 ) — (20,298 ) Net income 34,834 34,950 (34,639 ) 35,145 Net income attributable to noncontrolling interests — (311 ) — (311 ) Net income available to common stockholders $ 34,834 $ 34,639 $ (34,639 ) $ 34,834 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Three Months Ended September 30, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 224,244 $ 418,108 $ — $ 642,352 Land and lot sales revenue — 4,876 — 4,876 Other operations revenue — 613 — 613 Total revenues 224,244 423,597 — 647,841 Cost of home sales 182,754 324,789 — 507,543 Cost of land and lot sales — 3,451 — 3,451 Other operations expense — 570 — 570 Sales and marketing 7,286 22,752 — 30,038 General and administrative 12,942 13,794 — 26,736 Restructuring charges (83 ) 2,093 — 2,010 Homebuilding income from operations 21,345 56,148 — 77,493 Equity in loss of unconsolidated entities — (150 ) — (150 ) Other (loss) income, net (37 ) 84 — 47 Homebuilding income before income taxes 21,308 56,082 — 77,390 Financial Services: Revenues — 300 — 300 Expenses — 47 — 47 Equity in income of unconsolidated entities — 147 — 147 Financial services income before income taxes — 400 — 400 Income before income taxes 21,308 56,482 — 77,790 Equity of net income of subsidiaries 37,924 — (37,924 ) — Provision for income taxes (9,070 ) (18,951 ) — (28,021 ) Net income 50,162 37,531 (37,924 ) 49,769 Net income attributable to noncontrolling interests — 393 — 393 Net income available to common stockholders $ 50,162 $ 37,924 $ (37,924 ) $ 50,162 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Nine Months Ended September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 452,553 $ 1,106,080 $ — $ 1,558,633 Land and lot sales revenue — 70,204 — 70,204 Other operations revenue — 1,790 — 1,790 Total revenues 452,553 1,178,074 — 1,630,627 Cost of home sales 383,574 835,986 — 1,219,560 Cost of land and lot sales — 16,973 — 16,973 Other operations expense — 1,724 — 1,724 Sales and marketing 19,683 70,938 — 90,621 General and administrative 42,984 46,831 — 89,815 Restructuring charges — 478 — 478 Homebuilding income from operations 6,312 205,144 — 211,456 Equity in income of unconsolidated entities — 181 — 181 Other income, net 157 130 — 287 Homebuilding income before income taxes 6,469 205,455 — 211,924 Financial Services: Revenues — 762 — 762 Expenses — 183 — 183 Equity in income of unconsolidated entities — 3,246 — 3,246 Financial services income before income taxes — 3,825 — 3,825 Income before income taxes 6,469 209,280 — 215,749 Equity of net income of subsidiaries 135,024 — (135,024 ) — Provision for income taxes (4,183 ) (73,518 ) (77,701 ) Net income 137,310 135,762 (135,024 ) 138,048 Net income attributable to noncontrolling interests — (738 ) — (738 ) Net income available to common stockholders $ 137,310 $ 135,024 $ (135,024 ) $ 137,310 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Operations (in thousands): Nine Months Ended September 30, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 461,654 $ 982,201 $ — $ 1,443,855 Land and lot sales revenue — 74,366 — 74,366 Other operations revenue — 2,213 — 2,213 Total revenues 461,654 1,058,780 — 1,520,434 Cost of home sales 376,100 773,091 — 1,149,191 Cost of land and lot sales — 17,324 — 17,324 Other operations expense — 1,704 — 1,704 Sales and marketing 17,714 61,244 — 78,958 General and administrative 38,874 44,276 — 83,150 Restructuring charges (169 ) 2,899 — 2,730 Homebuilding income from operations 29,135 158,242 — 187,377 Equity in loss of unconsolidated entities — (82 ) — (82 ) Other (loss) income, net (149 ) 421 — 272 Homebuilding income before income taxes 28,986 158,581 — 187,567 Financial Services: Revenues — 482 — 482 Expenses — 131 — 131 Equity in loss of unconsolidated entities — (2 ) — (2 ) Financial services loss before income taxes — 349 — 349 Income before income taxes 28,986 158,930 — 187,916 Equity of net income of subsidiaries 103,688 — (103,688 ) — Provision for income taxes (12,285 ) (53,803 ) — (66,088 ) Net income 120,389 105,127 (103,688 ) 121,828 Net income attributable to noncontrolling interests — (1,439 ) — (1,439 ) Net income available to common stockholders $ 120,389 $ 103,688 $ (103,688 ) $ 120,389 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows (in thousands): Nine Months Ended September 30, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities Net cash used in operating activities $ (186,487 ) $ (74,820 ) $ — $ (261,307 ) Cash flows from investing activities: Purchases of property and equipment (831 ) (1,225 ) — (2,056 ) Investments in unconsolidated entities — (32 ) — (32 ) Intercompany (82,951 ) — 82,951 — Net cash (used in) provided by investing activities (83,782 ) (1,257 ) 82,951 (2,088 ) Cash flows from financing activities: Borrowings from debt 491,069 — — 491,069 Repayment of debt (276,426 ) (400 ) — (276,826 ) Debt issuance costs (5,061 ) — — (5,061 ) Net repayments of debt held by variable interest entities — (2,442 ) — (2,442 ) Contributions from noncontrolling interests — 1,955 — 1,955 Distributions to noncontrolling interests — (5,059 ) — (5,059 ) Proceeds from issuance of common stock under share-based awards 461 — — 461 Minimum tax withholding paid on behalf of employees for restricted stock units (1,359 ) — — (1,359 ) Share repurchases (25,113 ) — — (25,113 ) Intercompany — 82,951 (82,951 ) — Net cash provided by (used in) financing activities 183,571 77,005 (82,951 ) 177,625 Net decrease in cash and cash equivalents (86,698 ) 928 — (85,770 ) Cash and cash equivalents - beginning of period 147,771 66,714 — 214,485 Cash and cash equivalents - end of period $ 61,073 $ 67,642 $ — $ 128,715 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes Condensed Consolidating Statement of Cash Flows (in thousands): Nine Months Ended September 30, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities Net cash used in operating activities $ (69,362 ) $ (70,649 ) $ — $ (140,011 ) Cash flows from investing activities: Purchases of property and equipment (382 ) (677 ) — (1,059 ) Investments in unconsolidated entities — (1,458 ) — (1,458 ) Distributions from unconsolidated entities — 319 — 319 Intercompany (78,354 ) — 78,354 — Net cash (used in) provided by investing activities (78,736 ) (1,816 ) 78,354 (2,198 ) Cash flows from financing activities: Borrowings from notes payable 140,000 — — 140,000 Repayment of notes payable (57,513 ) (200 ) — (57,713 ) Debt issuance costs (2,688 ) — — (2,688 ) Net proceeds of debt held by variable interest entities — (5,927 ) — (5,927 ) Contributions from noncontrolling interests — 4,281 — 4,281 Distributions to noncontrolling interests — (9,198 ) — (9,198 ) Proceeds from issuance of common stock under share-based awards 1,616 — — 1,616 Excess tax benefit of share-based awards — 392 — 392 Minimum tax withholding paid on behalf of employees for restricted stock units (2,190 ) — — (2,190 ) Intercompany — 78,354 (78,354 ) — Net cash provided by (used in) financing activities 79,225 67,702 (78,354 ) 68,573 Net decrease increase in cash and cash equivalents (68,873 ) (4,763 ) — (73,636 ) Cash and cash equivalents - beginning of period 105,888 64,741 — 170,629 Cash and cash equivalents - end of period $ 37,015 $ 59,978 $ — $ 96,993 __________ (1) References to “Issuer” in this Note 20 , Supplemental Guarantor Information have the following meanings: a. for periods prior to July 7, 2015: TRI Pointe Homes only b. for periods from and after July 7, 2015: TRI Pointe Homes and TRI Pointe Group as co-issuers of the 2019 Notes and 2024 Notes

Organization, Basis of Presen44

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Detail) - $ / shares	Jul. 07, 2015	Sep. 30, 2016	Dec. 31, 2015
Organization And Summary Of Significant Accounting Policies [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Right to receive common share upon conversion	1
Senior Notes [Member] | 4.375% Senior notes due 2019 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Interest rate on senior note (percent)		4.375%
Senior Notes [Member] | 5.875% Senior notes due 2024 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Interest rate on senior note (percent)		5.875%
TRI Pointe Homes [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
TRI Pointe Homes [Member] | Senior Notes [Member] | 4.375% Senior notes due 2019 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Interest rate on senior note (percent)	4.375%
Debt instrument, maturity year	2,019
TRI Pointe Homes [Member] | Senior Notes [Member] | 5.875% Senior notes due 2024 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Interest rate on senior note (percent)	5.875%
Debt instrument, maturity year	2,024

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Employee-related charges	$ 5	$ 1,433	$ 30	$ 1,568
Lease termination charges	123	577	448	1,162
Total	$ 128	$ 2,010	$ 478	$ 2,730

Restructuring - Schedule of Cha

Restructuring - Schedule of Changes in Employee Related Restructuring Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring Reserve [Roll Forward]
Current year charges	$ 128	$ 2,010	$ 478	$ 2,730
Employee-Related Restructuring Reserves [Member]
Restructuring Reserve [Roll Forward]
Accrued charges, beginning of period	100	109	220	3,844
Current year charges	5	1,433	30	1,568
Payments	(20)	(1,087)	(165)	(4,957)
Accrued charges, end of period	$ 85	$ 455	$ 85	$ 455

Restructuring - Schedule of C47

Restructuring - Schedule of Changes in Lease Termination Related Restructuring Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring Reserve [Roll Forward]
Current year charges	$ 128	$ 2,010	$ 478	$ 2,730
Lease Termination Restructuring Reserves [Member]
Restructuring Reserve [Roll Forward]
Accrued charges, beginning of period	447	644	767	1,394
Current year charges	123	577	448	1,162
Payments	(352)	(705)	(997)	(2,040)
Accrued charges, end of period	$ 218	$ 516	$ 218	$ 516

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016segment
Segment Reporting [Abstract]
Number of principal businesses	2
Number of homebuilding companies	6
Number of reportable segments	6

Segment Information - Summary o

Segment Information - Summary of Financial Information Relating to Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total homebuilding revenues	$ 581,794	$ 647,841	$ 1,630,627	$ 1,520,434
Financial services, revenues	235	300	762	482
Total revenues	582,029	648,141	1,631,389	1,520,916
Total homebuilding (loss) income before taxes	54,033	77,390	211,924	187,567
Financial services income (loss) before taxes	1,410	400	3,825	349
Income before income taxes	55,443	77,790	215,749	187,916
Real estate inventories	2,969,148		2,969,148		$ 2,519,273
Total homebuilding assets	3,484,485		3,484,485		3,135,995
Financial services	5,418		5,418		2,076
Total assets	3,489,903		3,489,903		3,138,071
Operating segments [Member] | Maracay Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues	68,024	50,505	161,318	116,556
Total homebuilding (loss) income before taxes	4,385	3,687	9,544	5,820
Real estate inventories	252,094		252,094		206,912
Total homebuilding assets	272,928		272,928		227,857
Operating segments [Member] | Pardee Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues	188,148	172,957	547,311	424,680
Total homebuilding (loss) income before taxes	37,508	39,776	165,718	121,112
Real estate inventories	1,109,262		1,109,262		1,011,982
Total homebuilding assets	1,182,282		1,182,282		1,089,586
Operating segments [Member] | Quadrant Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues	48,354	48,173	153,575	132,698
Total homebuilding (loss) income before taxes	5,497	3,850	14,808	6,176
Real estate inventories	217,430		217,430		190,038
Total homebuilding assets	237,959		237,959		202,024
Operating segments [Member] | Trendmaker Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues	64,251	81,044	172,509	203,235
Total homebuilding (loss) income before taxes	3,516	7,214	9,439	17,525
Real estate inventories	221,201		221,201		199,398
Total homebuilding assets	236,618		236,618		213,562
Operating segments [Member] | Tri Pointe [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues	167,769	224,244	452,553	461,654
Total homebuilding (loss) income before taxes	11,723	29,561	34,651	55,295
Real estate inventories	877,941		877,941		659,130
Total homebuilding assets	1,047,975		1,047,975		832,423
Operating segments [Member] | Winchester Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues	45,248	70,918	143,361	181,611
Total homebuilding (loss) income before taxes	1,692	1,557	6,345	7,948
Real estate inventories	291,220		291,220		251,813
Total homebuilding assets	314,069		314,069		278,374
Corporate [Member]
Segment Reporting Information [Line Items]
Total homebuilding (loss) income before taxes	(10,288)	$ (8,255)	(28,581)	$ (26,309)
Total homebuilding assets	$ 192,654		$ 192,654		$ 292,169

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income available to common stockholders	$ 34,834	$ 50,162	$ 137,310	$ 120,389
Denominator:
Basic weighted-average shares outstanding (shares)	160,614,055	161,772,893	161,456,520	161,651,177
Effect of dilutive shares:
Stock options and unvested restricted stock units (shares)	653,454	593,851	459,832	648,105
Diluted weighted-average shares outstanding (shares)	161,267,509	162,366,744	161,916,352	162,299,282
Earnings per share
Basic (in dollars per share)	$ 0.22	$ 0.31	$ 0.85	$ 0.74
Diluted (in dollars per share)	$ 0.22	$ 0.31	$ 0.85	$ 0.74
Antidilutive stock options and unvested restricted stock not included in diluted earnings per share (in shares)	3,806,396	2,260,532	4,551,337	2,462,268

Receivables - Components of Rec

Receivables - Components of Receivables (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Escrow proceeds and other accounts receivable, net	$ 25,619	$ 32,917
Warranty insurance receivable	9,702	10,493
Notes and contracts receivable	0	300
Total receivables	$ 35,321	$ 43,710

Real Estate Inventories - Summa

Real Estate Inventories - Summary of Real Estate Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Real estate inventories owned:
Homes completed or under construction	$ 757,707	$ 575,076
Land under development	1,720,126	1,443,461
Land held for future development	298,841	295,241
Model homes	140,566	140,232
Total real estate inventories owned	2,917,240	2,454,010
Real estate inventories not owned:
Land purchase and land option deposits	29,608	39,055
Consolidated inventory held by VIEs	22,300	26,208
Total real estate inventories not owned	51,908	65,263
Total real estate inventories	$ 2,969,148	$ 2,519,273

Real Estate Inventories - Addit

Real Estate Inventories - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2016lot	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Land and lot sales revenue		$ 2,535	$ 4,876	$ 70,204	$ 74,366
Pardee Homes [Member]
Segment Reporting Information [Line Items]
Number of homebuilding lots sold | lot	102
Land and lot sales revenue				$ 61,600

Real Estate Inventories - Sum54

Real Estate Inventories - Summary of Interest Incurred, Capitalized and Expensed (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest incurred	$ 18,601	$ 15,454	$ 50,030	$ 45,779
Interest capitalized	(18,601)	(15,454)	(50,030)	(45,779)
Interest expensed	0	0	0	0
Capitalized interest in beginning inventory	151,347	140,106	140,311	124,461
Interest capitalized as a cost of inventory	18,601	15,454	50,030	45,779
Interest previously capitalized as a cost of inventory, included in cost of sales	(14,415)	(13,339)	(34,808)	(28,019)
Capitalized interest in ending inventory	$ 155,533	$ 142,221	$ 155,533	$ 142,221

Real Estate Inventories - Sched

Real Estate Inventories - Schedule of Land and Lot Option Abandonments and Pre-acquisition Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Real Estate [Abstract]
Real estate inventory impairments	$ 0	$ 29	$ 0	$ 1,073
Land and lot option abandonments and pre-acquisition charges	389	336	678	830
Total	$ 389	$ 365	$ 678	$ 1,903

Investments in Unconsolidated56

Investments in Unconsolidated Entities - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016investment
Minimum [Member]
Investment Holdings [Line Items]
Ownership percentage (percent)	7.00%
Maximum [Member]
Investment Holdings [Line Items]
Ownership percentage (percent)	55.00%
Homebuilding Partnerships or Limited Liability Companies [Member]
Investment Holdings [Line Items]
Number of equity investments	5
Financial Services Limited Liability Company [Member]
Investment Holdings [Line Items]
Number of equity investments	1

Investments in Unconsolidated57

Investments in Unconsolidated Entities - Schedule of Cumulative Investment in Entities on Equity Method, Including Share of Earnings and Losses (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Investments in unconsolidated entities	$ 17,205	$ 18,999
Limited Liability Company Interests [Member]
Schedule of Investments [Line Items]
Investments in unconsolidated entities	13,946	15,739
General Partnership Interests [Member]
Schedule of Investments [Line Items]
Investments in unconsolidated entities	$ 3,259	$ 3,260

Investments in Unconsolidated58

Investments in Unconsolidated Entities - Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Assets
Total assets	$ 119,702		$ 119,702		$ 125,810
Liabilities and equity
Accounts payable and other liabilities	12,932		12,932		14,443
Company’s equity	17,205		17,205		18,999
Outside interests' equity	89,565		89,565		92,368
Total liabilities and equity	119,702		119,702		125,810
Net sales	4,619	$ 1,217	12,516	$ 2,670
Other operating expense	(2,913)	(1,479)	(8,067)	(4,020)
Other income (loss)	1	(263)	3	(256)
Net income (loss)	1,707	(525)	4,452	(1,606)
Company’s equity in income (loss) of unconsolidated entities	1,227	$ (3)	3,427	$ (84)
Cash [Member]
Assets
Total assets	11,945		11,945		18,641
Receivables [Member]
Assets
Total assets	10,038		10,038		13,108
Real Estate Inventories [Member]
Assets
Total assets	96,654		96,654		92,881
Other Assets [Member]
Assets
Total assets	$ 1,065		$ 1,065		$ 1,180

Variable Interest Entities - Su

Variable Interest Entities - Summary of Interests in Land Option Agreements (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Deposits	$ 30,208	$ 42,058
Remaining Purchase Price	445,059	377,441
Consolidated inventory held by VIEs	22,300	26,208
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Deposits	600	3,003
Remaining Purchase Price	21,700	23,239
Consolidated inventory held by VIEs	22,300	26,208
Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Deposits	2,170	11,615
Remaining Purchase Price	58,135	74,590
Other land option agreements [Member]
Variable Interest Entity [Line Items]
Deposits	27,438	27,440
Remaining Purchase Price	$ 365,224	$ 279,612

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Other land option agreements [Member]
Variable Interest Entity [Line Items]
Capitalized pre-acquisition costs	$ 4.7	$ 5

Goodwill and Other Intangible61

Goodwill and Other Intangible Assets - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)assets	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)assets	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill	$ 139,304		$ 139,304		$ 139,304
Number of intangible assets | assets	2		2
Indefinite-Lived Trade Names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Indefinite life intangible asset	$ 17,300		$ 17,300
Finite-Lived Trade Names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Remaining useful life of amortizing asset			9 years 4 months 24 days		10 years 2 months 12 days
Amortization expense	133	$ 133	$ 400	$ 400,000
Maracay Homes [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Intangible assets useful life			20 years
WRECO Transaction [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill	$ 139,300		$ 139,300		$ 139,300

Goodwill and Other Intangible62

Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 139,304	$ 139,304
Trade names, Gross Carrying Amount	27,979	27,979
Gross Carrying Amount	167,283	167,283
Accumulated Amortization	(5,654)	(5,254)
Trade names, Net Carrying Amount	22,325	22,725
Net Carrying Amount	$ 161,629	$ 162,029

Goodwill and Other Intangible63

Goodwill and Other Intangible Assets - Schedule of Expected Amortization of Intangible Asset (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2016	$ 134
2,017	534
2,018	534
2,019	534
2,020	534
Thereafter	2,755
Total	$ 5,025

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 14,899	$ 14,523
Refundable fees and other deposits	21,695	17,056
Development rights, held for future use or sale	4,227	4,360
Deferred loan costs - unsecured revolving credit facility	2,319	2,179
Operating properties and equipment, net	9,525	7,643
Income tax receivable	10,633	0
Other	2,700	3,157
Total	$ 65,998	$ 48,918

Accrued Expenses and Other Li65

Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued payroll and related costs	$ 23,126		$ 28,264
Warranty reserves	45,665	$ 45,272	45,948	$ 36,743	$ 35,375	$ 33,270
Estimated cost for completion of real estate inventories	53,218		52,818
Customer deposits	19,428		12,132
Debt (nonrecourse) held by VIEs	0		2,442
Income tax liability to Weyerhaeuser	8,999		8,900
Accrued income taxes payable	0		19,279
Liability for uncertain tax positions	0		307
Accrued interest	19,240		2,417
Accrued insurance expense	2,529		1,402
Other tax liability	30,459		21,764
Other	16,732		20,590
Total	$ 219,396		$ 216,263

Senior Notes, Unsecured Revol66

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans - Schedule of Senior Notes (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Senior notes	$ 1,166,724	$ 868,679
Discount and deferred loan costs	(33,276)	(31,321)
4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Senior notes	450,000	450,000
4.875% Senior Notes due July 1, 2021 [Member]
Debt Instrument [Line Items]
Senior notes	300,000	0
5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Senior notes	$ 450,000	$ 450,000

Senior Notes, Unsecured Revol67

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans - Schedule of Senior Notes (Phantoms) (Detail) - Senior Notes [Member]	9 Months Ended
	Sep. 30, 2016	May 31, 2016
4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)	4.375%
Maturity date of senior note	Jun. 15, 2019
4.875% Senior Notes due July 1, 2021 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)	4.875%	4.875%
Maturity date of senior note	Jul. 1, 2021
5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)	5.875%
Maturity date of senior note	Jun. 15, 2024

Senior Notes, Unsecured Revol68

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Apr. 28, 2016	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Capitalization of deferred finance costs		$ 2,319,000		$ 2,319,000				$ 2,179,000
Accrued interest		19,240,000		19,240,000				2,417,000
Notes payable and other borrowings		200,000,000		200,000,000				299,392,000
Seller financed loans		17,758,000		17,758,000				2,434,000
Interest incurred		18,601,000	$ 15,454,000	50,030,000	$ 45,779,000
Amortization of deferred financing costs		1,800,000	$ 1,500,000	4,700,000	$ 3,900,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Notes payable and other borrowings		200,000,000		200,000,000				299,392,000
Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes, net		861,300,000
Principal payment on Senior Notes				0
Capitalization of deferred finance costs		22,000,000		22,000,000
Accrued interest		$ 18,600,000		$ 18,600,000				1,900,000
4.875% Senior Notes due July 1, 2021 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 300,000,000
Interest rate on debt instrument (percent)	4.875%	4.875%		4.875%
Proceeds from issuance of senior notes, net	$ 293,900,000
Debt issuance, percentage of aggregate principal (percent)	99.44%
Maturity date of senior note				Jul. 1, 2021
4.375% Senior notes due 2019 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		4.375%		4.375%
Debt issuance, percentage of aggregate principal (percent)		98.89%
Maturity date of senior note				Jun. 15, 2019
5.875% Senior notes due 2024 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		5.875%		5.875%
Debt issuance, percentage of aggregate principal (percent)		98.15%
Maturity date of senior note				Jun. 15, 2024
550 million revolving credit facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility							$ 550,000,000
625 million revolving credit facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Capitalization of deferred finance costs		$ 2,300,000		$ 2,300,000
Accrued interest		645,000		$ 645,000				407,000
Unsecured revolving credit facility						$ 625,000,000
Line of credit facility, maturity date				May 18, 2019
Notes payable and other borrowings		200,000,000		$ 200,000,000
Interest rate on revolving credit facility (percent)				2.28%
Available secured revolving credit facility		420,700,000		$ 420,700,000
625 million revolving credit facility [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate (percent)				1.45%
625 million revolving credit facility [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate (percent)				2.20%
625 million revolving credit facility [Member] | Letters of credit [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility		75,000,000		$ 75,000,000
Outstanding letters of credit		4,300,000		4,300,000
Seller financed loan [Member]
Debt Instrument [Line Items]
Seller financed loans		$ 17,758,000		$ 17,758,000				2,434,000
Seller financed loan [Member] | Loans Payable [Member]
Debt Instrument [Line Items]
Interest rate on debt instrument (percent)		7.00%		7.00%
Accrued interest		$ 359,000		$ 359,000				$ 89,000
Seller financed loans		$ 17,800,000		17,800,000
Minimum principal payment due in June 2017				$ 12,100,000

Senior Notes, Unsecured Revol69

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans - Components of Unsecured Revolving Credit Facility (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes payable and other borrowings	$ 200,000	$ 299,392
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Notes payable and other borrowings	$ 200,000	$ 299,392

Senior Notes, Unsecured Revol70

Senior Notes, Unsecured Revolving Credit Facility and Seller Financed Loans - Components of Seller Financed Loans (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Seller financed loans	$ 17,758	$ 2,434
Seller financed loan [Member]
Debt Instrument [Line Items]
Seller financed loans	$ 17,758	$ 2,434

Fair Value Disclosures - Summar

Fair Value Disclosures - Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes	$ 1,166,724	$ 868,679
Unsecured revolving credit facility	200,000	299,392
Seller financed loans	17,758	2,434
Deferred loan costs - unsecured revolving credit facility	2,319	2,179
Unsecured revolving credit facility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unsecured revolving credit facility	200,000	299,392
Level 2 [Member] | Recurring [Member] | Book Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes	1,188,686	889,054
Deferred loan costs - unsecured revolving credit facility	22,000	20,400
Level 2 [Member] | Recurring [Member] | Book Value [Member] | Seller financed loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Seller financed loans	17,758	2,434
Level 2 [Member] | Recurring [Member] | Book Value [Member] | Unsecured revolving credit facility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unsecured revolving credit facility	200,000	299,392
Level 2 [Member] | Recurring [Member] | Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes	1,235,250	881,460
Level 2 [Member] | Recurring [Member] | Fair Value [Member] | Seller financed loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Seller financed loans	17,758	2,368
Level 2 [Member] | Recurring [Member] | Fair Value [Member] | Unsecured revolving credit facility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unsecured revolving credit facility	$ 192,772	$ 299,392

Fair Value Disclosures - Summ72

Fair Value Disclosures - Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate inventories, impairment charge	$ 0	$ 29	$ 0	$ 1,073
Real estate inventories	$ 2,969,148		$ 2,969,148		$ 2,519,273
Fair Value Measurements Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate inventories, impairment charge					1,167
Real estate inventories					$ 28,540

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Commitment And Contingencies [Line Items]
Outstanding warranty insurance receivables	$ 9,702	$ 10,493
Surety bonds [Member]
Commitment And Contingencies [Line Items]
Outstanding surety bonds	433,600	414,100
Legal Reserve
Commitment And Contingencies [Line Items]
Legal reserves	$ 225	$ 450

Commitments and Contingencies74

Commitments and Contingencies - Schedule of Warranty Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserves, beginning of period	$ 45,272	$ 35,375	$ 45,948	$ 33,270
Warranty reserves accrued	3,329	4,201	8,373	10,427
Adjustments to pre-existing reserves	200	(14)	460	1,286
Warranty expenditures	(3,136)	(2,819)	(9,116)	(8,240)
Warranty reserves, end of period	$ 45,665	$ 36,743	$ 45,665	$ 36,743

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	Jun. 06, 2016$ / sharesshares	Mar. 01, 2016$ / sharesshares	Aug. 12, 2015$ / sharesshares	Mar. 09, 2015$ / sharesshares	Mar. 05, 2015$ / sharesshares	Sep. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)shares	Jul. 16, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation related to all stock-based awards | $						$ 20.3	$ 20.3
Weighted average period, expense to recognize							1 year 10 months 10 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)							1,904,389
Restricted Stock Units (RSUs) [Member] | Employees and Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)		1,120,677			440,800
Closing stock price on date of grant (in dollars per share) | $ / shares		$ 10.49			$ 14.97
Restricted stock units, vesting period		3 years			3 years
Restricted Stock Units (RSUs) [Member] | Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)	74,466		69,008
Closing stock price on date of grant (in dollars per share) | $ / shares	$ 11.75		$ 14.49
Performance-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based RSUs, Description						performance-based RSUs will not vest if the Company’s total stockholder return from January 1, 2016 to December 31, 2018 is not a positive number, provided that the executive will thereafter become vested in the award units, or portion thereof, that would have otherwise vested on December 31, 2018 if on any day after December 31, 2018 and on or before December 31, 2020, the Company’s total stockholder return is greater than zero and the executive is employed by the Company on that date. If the performance-based RSUs have not vested on or before December 31, 2020, such performance-based RSUs shall be cancelled and forfeited for no consideration.
Performance period initiation date		Jan. 1, 2016
Performance period expiration date		Dec. 31, 2018
Closing stock price on date of grant (in dollars per share) | $ / shares		$ 4.76
Performance-based RSUs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount percentage (percent)		0.00%
Performance-based RSUs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount percentage (percent)		100.00%
Performance-based RSUs [Member] | Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period initiation date				Jan. 1, 2015
Performance period expiration date				Dec. 31, 2017
Closing stock price on date of grant (in dollars per share) | $ / shares				$ 7.55
Allocation amount percentage (percent)				33.33%
Performance-based RSUs [Member] | Stock Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period initiation date		Jan. 1, 2016		Jan. 1, 2016
Performance period expiration date		Dec. 31, 2018		Dec. 31, 2017
Closing stock price on date of grant (in dollars per share) | $ / shares				$ 7.90
Allocation amount percentage (percent)				33.33%
Performance-based RSUs [Member] | Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period initiation date				Jan. 1, 2015
Performance period expiration date				Dec. 31, 2017
Closing stock price on date of grant (in dollars per share) | $ / shares				$ 14.57
Allocation amount percentage (percent)				33.33%
Performance-based RSUs [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)		297,426		411,804
Performance-based RSUs [Member] | President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)		285,986		384,351
Performance-based RSUs [Member] | Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)		125,834		274,536
2013 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock (shares)						11,727,833	11,727,833
Shares available for future grant (shares)						7,604,642	7,604,642
WRECO equity incentive plans [Member] | WRECO Transaction [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of registered shares (shares)								4,105,953
Exchange ratio								2.1107

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Compensation Expense Recognized Related to all Stock-Based Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total stock-based compensation	$ 3,285	$ 2,994	$ 9,648	$ 8,536

Stock-Based Compensation - Su77

Stock-Based Compensation - Summary of Stock Option Awards (Detail) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options, Outstanding, Balance (shares)	3,220,147
Options, Granted (shares)	0
Options, Exercised (shares)	(79,689)
Options, Forfeited (shares)	(155,380)
Options, Outstanding, Balance (shares)	2,985,078	3,220,147
Options exercisable at end of period (shares)	2,616,544
Weighted Average Exercise Price, Outstanding, Balance (in dollars per share)	$ 13.12
Weighted Average Exercise Price, Granted (in dollars per share)	0
Weighted Average Exercise Price, Exercised (in dollars per share)	9.89
Weighted Average Exercise Price, Forfeited (in dollars per share)	12.39
Weighted Average Exercise Price, Outstanding, Balance (in dollars per share)	13.24	$ 13.12
Weighted Average Exercise Price, Options exercisable at end of period (in dollars per share)	$ 13.05
Weighted Average Remaining Contractual Life, Outstanding	4 years 7 months 6 days	5 years 2 months 12 days
Weighted Average Remaining Contractual Life, Options exercisable at end of period	4 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding, Balance	$ 3,282	$ 3,081
Aggregate Intrinsic Value, Outstanding, Options exercisable at end of period	$ 3,282

Stock-Based Compensation - Su78

Stock-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested Restricted Stock Units, Beginning Balance (shares)	1,958,033
Nonvested Restricted Stock Units, Granted (shares)	1,904,389
Nonvested Restricted Stock Units, Vested (shares)	(431,758)
Nonvested Restricted Stock Units, Forfeited (shares)	(19,781)
Nonvested Restricted Stock Units, Ending Balance (shares)	3,410,883
Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$ 12.21
Weighted Average Grant Date Fair Value, Granted (in dollars per share)	8.41
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	14.53
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share)	12.17
Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 9.77
Aggregate Intrinsic Value, Beginning Balance	$ 44,993	$ 24,808
Aggregate Intrinsic Value, Granted	25,100
Aggregate Intrinsic Value, Ending Balance	$ 44,993	$ 24,808

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 27, 2016	Sep. 30, 2016	Sep. 30, 2016	Jan. 27, 2016
Equity, Class of Treasury Stock [Line Items]
Aggregate value of share repurchases authorized				$ 100,000,000
Shares repurchased and retired (shares)		852,500	2,105,521
Average price of shares repurchased (in dollars per share)		$ 12.22	$ 11.93
Total cost of shares repurchased and retired		$ 10,400,000	$ 25,100,000
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Shares repurchased and retired (shares)	618,532
Average price of shares repurchased (in dollars per share)	$ 12.43
Total cost of shares repurchased and retired	$ 7,700,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Contingency [Line Items]
Net deferred tax assets	$ 111,887,000		$ 111,887,000		$ 130,657,000
Valuation allowance related to net deferred tax assets	3,500,000		3,500,000		4,400,000
Provision for income taxes	20,298,000	$ 28,021,000	77,701,000	$ 66,088,000
Liability for uncertain tax positions	0		0		307,000
Accrued Expenses And Other Liabilities [Member] | Weyerhaeuser [Member]
Income Tax Contingency [Line Items]
Income tax liability	$ 9,000,000		$ 9,000,000		$ 8,900,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) $ in Millions	1 Months Ended
	Sep. 30, 2016USD ($)lot	Aug. 31, 2016USD ($)lot	Oct. 31, 2015USD ($)lot	Jan. 31, 2015USD ($)lot
Starwood Capital Group [Member]
Related Party Transaction [Line Items]
Number of lots acquired | lot		257		46
Purchase price | $		$ 8.6		$ 2.8
Ownership percentage in entity's common stock (percent)				5.00%
Blackrock, Inc. [Member]
Related Party Transaction [Line Items]
Number of lots acquired | lot	45		161
Purchase price | $	$ 10		$ 60

Supplemental Disclosure to Co82

Supplemental Disclosure to Consolidated Statements of Cash Flows - Supplemental Disclosure to Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Supplemental disclosure of cash flow information:
Interest, net of amounts capitalized of $[] and $45,779	$ 0	$ 0
Income taxes	89,269	44,394
Supplemental disclosures of noncash activities:
Amortization of senior note discount capitalized to real estate inventory	1,321	1,155
Amortization of deferred loan costs capitalized to real estate inventory	2,865	2,690
Effect of net consolidation and de-consolidation of variable interest entities:
Increase (decrease) in consolidated real estate inventory not owned	3,484	(3,556)
Increase in deposits on real estate under option or contract and other assets		300
(Increase) decrease in noncontrolling interests	$ (3,484)	$ 3,256

Supplemental Disclosure to Co83

Supplemental Disclosure to Consolidated Statements of Cash Flows - Supplemental Disclosure to Consolidated Statements of Cash Flows Phantoms (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Interest capitalized	$ 18,601	$ 15,454	$ 50,030	$ 45,779

Supplemental Guarantor Inform84

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 128,715	$ 214,485	$ 96,993	$ 170,629
Receivables	35,321	43,710
Intercompany receivables	0	0
Real estate inventories	2,969,148	2,519,273
Investments in unconsolidated entities	17,205	18,999
Goodwill and other intangible assets, net	161,629	162,029
Investments in subsidiaries	0	0
Deferred tax assets, net	111,887	130,657
Other assets	65,998	48,918
Total assets	3,489,903	3,138,071
Liabilities
Accounts payable	77,667	64,840
Intercompany payables	0	0
Accrued expenses and other liabilities	219,396	216,263
Unsecured revolving credit facility	200,000	299,392
Seller financed loans	17,758	2,434
Senior notes	1,166,724	868,679
Total liabilities	1,681,545	1,451,608
Equity
Total stockholders’ equity	1,785,460	1,664,683
Noncontrolling interests	22,898	21,780
Total equity	1,808,358	1,686,463		1,472,476
Total liabilities and equity	3,489,903	3,138,071
Reporting Entity [Member] | Issuer [Member]
Assets
Cash and cash equivalents	61,073	147,771	37,015	105,888
Receivables	12,496	17,358
Intercompany receivables	856,866	783,956
Real estate inventories	877,940	657,221
Investments in unconsolidated entities	0	0
Goodwill and other intangible assets, net	156,604	156,604
Investments in subsidiaries	1,241,559	1,093,261
Deferred tax assets, net	18,958	19,061
Other assets	9,266	12,219
Total assets	3,234,762	2,887,451
Liabilities
Accounts payable	21,099	20,444
Intercompany payables	0	0
Accrued expenses and other liabilities	43,721	32,219
Unsecured revolving credit facility	200,000	299,392
Seller financed loans	17,758	2,034
Senior notes	1,166,724	868,679
Total liabilities	1,449,302	1,222,768
Equity
Total stockholders’ equity	1,785,460	1,664,683
Noncontrolling interests	0	0
Total equity	1,785,460	1,664,683
Total liabilities and equity	3,234,762	2,887,451
Reporting Entity [Member] | Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	67,642	66,714	59,978	64,741
Receivables	22,825	26,352
Intercompany receivables	0	0
Real estate inventories	2,091,208	1,862,052
Investments in unconsolidated entities	17,205	18,999
Goodwill and other intangible assets, net	5,025	5,425
Investments in subsidiaries	0	0
Deferred tax assets, net	92,929	111,596
Other assets	56,732	36,699
Total assets	2,353,566	2,127,837
Liabilities
Accounts payable	56,568	44,396
Intercompany payables	856,866	783,956
Accrued expenses and other liabilities	175,675	184,044
Unsecured revolving credit facility	0	0
Seller financed loans	0	400
Senior notes	0	0
Total liabilities	1,089,109	1,012,796
Equity
Total stockholders’ equity	1,241,559	1,093,261
Noncontrolling interests	22,898	21,780
Total equity	1,264,457	1,115,041
Total liabilities and equity	2,353,566	2,127,837
Consolidating Adjustments [Member]
Assets
Cash and cash equivalents	0	0	$ 0	$ 0
Receivables	0	0
Intercompany receivables	(856,866)	(783,956)
Real estate inventories	0	0
Investments in unconsolidated entities	0	0
Goodwill and other intangible assets, net	0	0
Investments in subsidiaries	(1,241,559)	(1,093,261)
Deferred tax assets, net	0	0
Other assets	0	0
Total assets	(2,098,425)	(1,877,217)
Liabilities
Accounts payable	0	0
Intercompany payables	(856,866)	(783,956)
Accrued expenses and other liabilities	0	0
Unsecured revolving credit facility	0	0
Seller financed loans	0	0
Senior notes	0	0
Total liabilities	(856,866)	(783,956)
Equity
Total stockholders’ equity	(1,241,559)	(1,093,261)
Noncontrolling interests	0	0
Total equity	(1,241,559)	(1,093,261)
Total liabilities and equity	$ (2,098,425)	$ (1,877,217)

Supplemental Guarantor Inform85

Supplemental Guarantor Information - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Homebuilding:
Home sales revenue	$ 578,653	$ 642,352	$ 1,558,633	$ 1,443,855
Land and lot sales revenue	2,535	4,876	70,204	74,366
Other operations revenue	606	613	1,790	2,213
Total revenues	581,794	647,841	1,630,627	1,520,434
Cost of home sales	462,323	507,543	1,219,560	1,149,191
Cost of land and lot sales	1,734	3,451	16,973	17,324
Other operations expense	575	570	1,724	1,704
Sales and marketing	31,852	30,038	90,621	78,958
General and administrative	31,150	26,736	89,815	83,150
Restructuring charges	128	2,010	478	2,730
Homebuilding income from operations	54,032	77,493	211,456	187,377
Equity in (loss) income of unconsolidated entities	(20)	(150)	181	(82)
Other (loss) income, net	21	47	287	272
Homebuilding income before income taxes	54,033	77,390	211,924	187,567
Financial Services:
Revenues	235	300	762	482
Expenses	72	47	183	131
Equity in income (loss) of unconsolidated entities	1,247	147	3,246	(2)
Financial services income before income taxes	1,410	400	3,825	349
Income before income taxes	55,443	77,790	215,749	187,916
Equity of net income of subsidiaries	0	0	0	0
Provision for income taxes	(20,298)	(28,021)	(77,701)	(66,088)
Net income	35,145	49,769	138,048	121,828	$ 207,181
Net (income) loss attributable to noncontrolling interests	(311)	393	(738)	(1,439)
Net income available to common stockholders	34,834	50,162	137,310	120,389
Reporting Entity [Member] | Issuer [Member]
Homebuilding:
Home sales revenue	167,769	224,244	452,553	461,654
Land and lot sales revenue	0	0	0	0
Other operations revenue	0	0	0	0
Total revenues	167,769	224,244	452,553	461,654
Cost of home sales	144,217	182,754	383,574	376,100
Cost of land and lot sales	0	0	0	0
Other operations expense	0	0	0	0
Sales and marketing	6,598	7,286	19,683	17,714
General and administrative	15,192	12,942	42,984	38,874
Restructuring charges	0	(83)	0	(169)
Homebuilding income from operations	1,762	21,345	6,312	29,135
Equity in (loss) income of unconsolidated entities	0	0	0	0
Other (loss) income, net	(345)	(37)	157	(149)
Homebuilding income before income taxes	1,417	21,308	6,469	28,986
Financial Services:
Revenues	0	0	0	0
Expenses	0	0	0	0
Equity in income (loss) of unconsolidated entities	0	0	0	0
Financial services income before income taxes	0	0	0	0
Income before income taxes	1,417	21,308	6,469	28,986
Equity of net income of subsidiaries	34,639	37,924	135,024	103,688
Provision for income taxes	(1,222)	(9,070)	(4,183)	(12,285)
Net income	34,834	50,162	137,310	120,389
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income available to common stockholders	34,834	50,162	137,310	120,389
Reporting Entity [Member] | Guarantor Subsidiaries [Member]
Homebuilding:
Home sales revenue	410,884	418,108	1,106,080	982,201
Land and lot sales revenue	2,535	4,876	70,204	74,366
Other operations revenue	606	613	1,790	2,213
Total revenues	414,025	423,597	1,178,074	1,058,780
Cost of home sales	318,106	324,789	835,986	773,091
Cost of land and lot sales	1,734	3,451	16,973	17,324
Other operations expense	575	570	1,724	1,704
Sales and marketing	25,254	22,752	70,938	61,244
General and administrative	15,958	13,794	46,831	44,276
Restructuring charges	128	2,093	478	2,899
Homebuilding income from operations	52,270	56,148	205,144	158,242
Equity in (loss) income of unconsolidated entities	(20)	(150)	181	(82)
Other (loss) income, net	366	84	130	421
Homebuilding income before income taxes	52,616	56,082	205,455	158,581
Financial Services:
Revenues	235	300	762	482
Expenses	72	47	183	131
Equity in income (loss) of unconsolidated entities	1,247	147	3,246	(2)
Financial services income before income taxes	1,410	400	3,825	349
Income before income taxes	54,026	56,482	209,280	158,930
Equity of net income of subsidiaries	0	0	0	0
Provision for income taxes	(19,076)	(18,951)	(73,518)	(53,803)
Net income	34,950	37,531	135,762	105,127
Net (income) loss attributable to noncontrolling interests	(311)	393	(738)	(1,439)
Net income available to common stockholders	34,639	37,924	135,024	103,688
Consolidating Adjustments [Member]
Homebuilding:
Home sales revenue	0	0	0	0
Land and lot sales revenue	0	0	0	0
Other operations revenue	0	0	0	0
Total revenues	0	0	0	0
Cost of home sales	0	0	0	0
Cost of land and lot sales	0	0	0	0
Other operations expense	0	0	0	0
Sales and marketing	0	0	0	0
General and administrative	0	0	0	0
Restructuring charges	0	0	0	0
Homebuilding income from operations	0	0	0	0
Equity in (loss) income of unconsolidated entities	0	0	0	0
Other (loss) income, net	0	0	0	0
Homebuilding income before income taxes	0	0	0	0
Financial Services:
Revenues	0	0	0	0
Expenses	0	0	0	0
Equity in income (loss) of unconsolidated entities	0	0	0	0
Financial services income before income taxes	0	0	0	0
Income before income taxes	0	0	0	0
Equity of net income of subsidiaries	(34,639)	(37,924)	(135,024)	(103,688)
Provision for income taxes	0	0		0
Net income	(34,639)	(37,924)	(135,024)	(103,688)
Net (income) loss attributable to noncontrolling interests	0	0	0	0
Net income available to common stockholders	$ (34,639)	$ (37,924)	$ (135,024)	$ (103,688)

Supplemental Guarantor Inform86

Supplemental Guarantor Information - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net cash used in operating activities	$ (261,307)	$ (140,011)
Cash flows from investing activities:
Purchases of property and equipment	(2,056)	(1,059)
Investments in unconsolidated entities	(32)	(1,458)
Distributions from unconsolidated entities	0	319
Intercompany	0	0
Net cash used in investing activities	(2,088)	(2,198)
Cash flows from financing activities:
Borrowings from debt	491,069	140,000
Repayment of debt	(276,826)	(57,713)
Debt issuance costs	(5,061)	(2,688)
Net proceeds (repayments) of debt held by variable interest entities	(2,442)	(5,927)
Contributions from noncontrolling interests	1,955	4,281
Distributions to noncontrolling interests	(5,059)	(9,198)
Proceeds from issuance of common stock under share-based awards	461	1,616
Excess tax benefit of share-based awards	0	392
Minimum tax withholding paid on behalf of employees for share-based awards	(1,359)	(2,190)
Share repurchases	(25,113)	0
Intercompany	0	0
Net cash provided by financing activities	177,625	68,573
Net decrease in cash and cash equivalents	(85,770)	(73,636)
Cash and cash equivalents - beginning of period	214,485	170,629
Cash and cash equivalents - end of period	128,715	96,993
Reporting Entity [Member] | Issuer [Member]
Cash flows from operating activities:
Net cash used in operating activities	(186,487)	(69,362)
Cash flows from investing activities:
Purchases of property and equipment	(831)	(382)
Investments in unconsolidated entities	0	0
Distributions from unconsolidated entities		0
Intercompany	(82,951)	(78,354)
Net cash used in investing activities	(83,782)	(78,736)
Cash flows from financing activities:
Borrowings from debt	491,069	140,000
Repayment of debt	(276,426)	(57,513)
Debt issuance costs	(5,061)	(2,688)
Net proceeds (repayments) of debt held by variable interest entities	0	0
Contributions from noncontrolling interests	0	0
Distributions to noncontrolling interests	0	0
Proceeds from issuance of common stock under share-based awards	461	1,616
Excess tax benefit of share-based awards		0
Minimum tax withholding paid on behalf of employees for share-based awards	(1,359)	(2,190)
Share repurchases	(25,113)
Intercompany	0	0
Net cash provided by financing activities	183,571	79,225
Net decrease in cash and cash equivalents	(86,698)	(68,873)
Cash and cash equivalents - beginning of period	147,771	105,888
Cash and cash equivalents - end of period	61,073	37,015
Reporting Entity [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash used in operating activities	(74,820)	(70,649)
Cash flows from investing activities:
Purchases of property and equipment	(1,225)	(677)
Investments in unconsolidated entities	(32)	(1,458)
Distributions from unconsolidated entities		319
Intercompany	0	0
Net cash used in investing activities	(1,257)	(1,816)
Cash flows from financing activities:
Borrowings from debt	0	0
Repayment of debt	(400)	(200)
Debt issuance costs	0	0
Net proceeds (repayments) of debt held by variable interest entities	(2,442)	(5,927)
Contributions from noncontrolling interests	1,955	4,281
Distributions to noncontrolling interests	(5,059)	(9,198)
Proceeds from issuance of common stock under share-based awards	0	0
Excess tax benefit of share-based awards		392
Minimum tax withholding paid on behalf of employees for share-based awards	0	0
Share repurchases	0
Intercompany	82,951	78,354
Net cash provided by financing activities	77,005	67,702
Net decrease in cash and cash equivalents	928	(4,763)
Cash and cash equivalents - beginning of period	66,714	64,741
Cash and cash equivalents - end of period	67,642	59,978
Consolidating Adjustments [Member]
Cash flows from operating activities:
Net cash used in operating activities	0	0
Cash flows from investing activities:
Purchases of property and equipment	0	0
Investments in unconsolidated entities	0	0
Distributions from unconsolidated entities		0
Intercompany	82,951	78,354
Net cash used in investing activities	82,951	78,354
Cash flows from financing activities:
Borrowings from debt	0	0
Repayment of debt	0	0
Debt issuance costs	0	0
Net proceeds (repayments) of debt held by variable interest entities	0	0
Contributions from noncontrolling interests	0	0
Distributions to noncontrolling interests	0	0
Proceeds from issuance of common stock under share-based awards	0	0
Excess tax benefit of share-based awards		0
Minimum tax withholding paid on behalf of employees for share-based awards	0	0
Share repurchases	0
Intercompany	(82,951)	(78,354)
Net cash provided by financing activities	(82,951)	(78,354)
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents - beginning of period	0	0
Cash and cash equivalents - end of period	$ 0	$ 0