Tri Pointe Homes (TPH) 10-K 20 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Feb. 08, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
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 Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		151,212,457
Entity Public Float			$ 1,950,059,287

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 282,914	$ 208,657
Receivables	125,600	82,500
Real estate inventories	3,105,553	2,910,627
Investments in unconsolidated entities	5,870	17,546
Goodwill and other intangible assets, net	160,961	161,495
Deferred tax assets, net	76,413	123,223
Other assets	48,070	60,592
Total assets	3,805,381	3,564,640
Liabilities
Accounts payable	72,870	70,252
Accrued expenses and other liabilities	330,882	263,845
Unsecured revolving credit facility	0	200,000
Seller financed loans	0	13,726
Senior notes, net	1,471,302	1,168,307
Total liabilities	1,875,054	1,716,130
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as of December 31, 2017 and 2016, respectively	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized; 151,162,999 and 158,626,229 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively	1,512	1,586
Additional paid-in capital	793,980	880,822
Retained earnings	1,134,230	947,039
Total stockholders’ equity	1,929,722	1,829,447
Noncontrolling interests	605	19,063
Total equity	1,930,327	1,848,510
Total liabilities and equity	$ 3,805,381	$ 3,564,640

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (shares)	50,000,000	50,000,000
Preferred stock issued (shares)	0	0
Preferred stock outstanding (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (shares)	500,000,000	500,000,000
Common stock issued (shares)	151,162,999	158,626,229
Common stock outstanding (shares)	151,162,999	158,626,229

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Homebuilding:
Home sales revenue									$ 2,732,299	$ 2,329,336	$ 2,291,264
Land and lot sales revenue									74,269	72,272	101,284
Other operations revenue									2,333	2,314	7,601
Total revenues	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 773,753	$ 582,029	$ 625,222	$ 424,138	2,808,901	2,403,922	2,400,149
Cost of home sales									2,173,251	1,836,327	1,808,776
Cost of land and lot sales									14,888	17,367	35,089
Other operations expense									2,298	2,247	4,360
Sales and marketing									137,066	127,903	116,217
General and administrative									137,764	124,119	120,825
Homebuilding income from operations									343,634	295,959	314,882
Equity in (loss) income of unconsolidated entities									(11,433)	179	1,460
Other income, net									151	312	858
Homebuilding income before income taxes									332,352	296,450	317,200
Financial Services:
Revenues									1,371	1,220	1,010
Expenses									331	253	181
Equity in income of unconsolidated entities									6,426	4,810	1,231
Financial services income before income taxes									7,466	5,777	2,060
Income before income taxes									339,818	302,227	319,260
Provision for income taxes									(152,267)	(106,094)	(112,079)
Net income	74,242	72,289	32,803	8,217	58,085	35,145	74,193	28,710	187,551	196,133	207,181
Net income attributable to noncontrolling interests	(222)	(25)	(89)	(24)	(224)	(311)	(267)	(160)	(360)	(962)	(1,720)
Net income available to common stockholders	$ 74,020	$ 72,264	$ 32,714	$ 8,193	$ 57,861	$ 34,834	$ 73,926	$ 28,550	$ 187,191	$ 195,171	$ 205,461
Earnings per share
Basic (in dollars per share)	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 0.36	$ 0.22	$ 0.46	$ 0.18	$ 1.21	$ 1.21	$ 1.27
Diluted (in dollars per share)	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 0.36	$ 0.22	$ 0.46	$ 0.18	$ 1.21	$ 1.21	$ 1.27
Weighted average shares outstanding
Basic (shares)									154,134,411	160,859,782	161,692,152
Diluted (shares)									155,085,366	161,381,499	162,319,758

Consolidated Statements of Equi

Consolidated Statements of Equity - 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
Net income	207,181			205,461	205,461	1,720
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 deficit 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
Net income	196,133			195,171	195,171	962
Shares issued under share-based awards	587	$ 4	583		587
Shares issued under share-based awards (shares)		373,332
Excess tax deficit of share-based awards, net	(165)		(165)		(165)
Minimum tax withholding paid on behalf of employees for restricted stock units	(1,359)		(1,359)		(1,359)
Stock-based compensation expense	12,612		12,612		12,612
Share repurchases	(42,082)	$ (36)	(42,046)		(42,082)
Stock repurchases (shares)		(3,560,853)
Distributions to noncontrolling interests, net	(3,363)					(3,363)
Net effect of consolidations, de-consolidations and other transactions	(316)					(316)
Ending balance at Dec. 31, 2016	$ 1,848,510	$ 1,586	880,822	947,039	1,829,447	19,063
Ending balance (shares) at Dec. 31, 2016	158,626,229	158,626,229
Net income	$ 187,551			187,191	187,191	360
Shares issued under share-based awards	12,291	$ 16	12,275		12,291
Shares issued under share-based awards (shares)		1,531,475
Minimum tax withholding paid on behalf of employees for restricted stock units	(2,896)		(2,896)		(2,896)
Stock-based compensation expense	15,906		15,906		15,906
Share repurchases	(112,217)	$ (90)	(112,127)		(112,217)
Stock repurchases (shares)		(8,994,705)
Distributions to noncontrolling interests, net	(1,333)					(1,333)
Net effect of consolidations, de-consolidations and other transactions	(17,485)					(17,485)
Ending balance at Dec. 31, 2017	$ 1,930,327	$ 1,512	$ 793,980	$ 1,134,230	$ 1,929,722	$ 605
Ending balance (shares) at Dec. 31, 2017	151,162,999	151,162,999

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net income	$ 187,551	$ 196,133	$ 207,181
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	3,500	3,087	8,274
Equity in loss (income) of unconsolidated entities, net	5,007	(4,989)	(2,691)
Deferred income taxes, net	46,810	7,434	27,164
Amortization of stock-based compensation	15,906	12,612	11,935
Charges for impairments and lot option abandonments	2,053	1,470	1,930
Excess tax deficit of share-based awards	0	(165)	0
Changes in assets and liabilities:
Real estate inventories	(205,229)	(388,145)	(235,030)
Receivables	(44,280)	576	(23,592)
Other assets	13,487	(8,501)	35,360
Accounts payable	2,618	5,412	(4,020)
Accrued expenses and other liabilities	67,036	10,490	4,494
Returns on investments in unconsolidated entities, net	7,215	6,276	0
Net cash provided by (used in) operating activities	101,674	(158,310)	31,005
Cash flows from investing activities:
Purchases of property and equipment	(2,605)	(3,985)	(809)
Proceeds from sale of property and equipment	6	9	0
Investments in unconsolidated entities	(980)	(32)	(1,468)
Distributions from unconsolidated entities	0	0	1,415
Net cash used in investing activities	(3,579)	(4,008)	(862)
Cash flows from financing activities:
Borrowings from debt	500,000	541,069	140,000
Repayment of debt	(413,726)	(330,858)	(112,851)
Debt issuance costs	(5,957)	(5,062)	(2,688)
Net repayments of debt held by variable interest entities	0	(2,442)	(6,769)
Contributions from noncontrolling interests	0	1,955	5,990
Distributions to noncontrolling interests	(1,333)	(5,318)	(9,823)
Proceeds from issuance of common stock under share-based awards	12,291	587	1,616
Excess tax benefits of share-based awards	0	0	428
Minimum tax withholding paid on behalf of employees for share-based awards	(2,896)	(1,359)	(2,190)
Share repurchases	(112,217)	(42,082)	0
Net cash (used in) provided by financing activities	(23,838)	156,490	13,713
Net increase (decrease) in cash and cash equivalents	74,257	(5,828)	43,856
Cash and cash equivalents - beginning of year	208,657	214,485	170,629
Cash and cash equivalents - end of year	$ 282,914	$ 208,657	$ 214,485

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Organization TRI Pointe Group, Inc. (“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, Inc. (“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 Securities Exchange Act of 1934, as amended (the “Exchange Act”)), began making filings under the Securities Act of 1933, as amended, 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’ unsecured revolving credit facility. Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“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 described in “Reverse Acquisition” below, 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 December 31, 2017 and 2016 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. Unless the context otherwise requires, the terms “we”, “us”, “our” and “the Company” have the following meanings: • For periods prior to July 7, 2015: TRI Pointe Homes (and its consolidated subsidiaries) • For periods from and after July 7, 2015: TRI Pointe Group (and its consolidated subsidiaries) 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 condensed reporting of restructuring charges, included in general and administrative expense on the consolidated statements of operations in this annual report on Form 10-K. 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. Subsequent Events We evaluated subsequent events up until our consolidated financial statements were filed with the Securities and Exchange Commission. Cash and Cash Equivalents and Concentration of Credit Risk We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts. Real Estate Inventories and Cost of Sales Real estate inventories consist of land, land under development, homes under construction, completed homes and model homes and are stated at cost, net of impairment losses. We capitalize direct carrying costs, including interest, property taxes and related development costs to inventories. Field construction supervision and related direct overhead are also included in the capitalized cost of inventories. Direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. In accordance with ASC Topic 835, Interest (“ASC 835”), homebuilding interest capitalized as a cost of inventories owned is included in costs of sales as related units or lots are sold. To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us. Qualified assets represent projects that are actively under development. Homebuilding cost of sales is recognized at the same time revenue is recognized and is recorded based upon total estimated costs to be allocated to each home within a community. Any changes to the estimated costs are allocated to the remaining undelivered lots and homes within their respective community. The estimation and allocation of these costs require a substantial degree of judgment by management. The estimation process involved in determining relative sales or fair values is inherently uncertain because it involves estimating future sales values of homes before delivery. Additionally, in determining the allocation of costs to a particular land parcel or individual home, we rely on project budgets that are based on a variety of assumptions, including assumptions about construction schedules and future costs to be incurred. It is common that actual results differ from budgeted amounts for various reasons, including construction delays, increases in costs that have not been committed or unforeseen issues encountered during construction that fall outside the scope of existing contracts, or costs that come in less than originally anticipated. While the actual results for a particular construction project are accurately reported over time, a variance between the budget and actual costs could result in the understatement or overstatement of costs and have a related impact on gross margins between reporting periods. To reduce the potential for such variances, we have procedures that have been applied on a consistent basis, including assessing and revising project budgets on a periodic basis, obtaining commitments from subcontractors and vendors for future costs to be incurred and utilizing the most recent information available to estimate costs. If there are indications of impairment, we perform a detailed budget and cash flow review of our real estate assets to determine whether the estimated remaining undiscounted future cash flows of the community are more or less than the asset’s carrying value. If the undiscounted cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the undiscounted cash flows are less than the asset’s carrying value, the asset is deemed impaired and is written down to fair value. These impairment evaluations require us to make estimates and assumptions regarding future conditions, including timing and amounts of development costs and sales prices of real estate assets, to determine if expected future undiscounted cash flows will be sufficient to recover the asset’s carrying value. When estimating undiscounted cash flows of a community, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other communities, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not limited to, land and land development costs, home construction costs, interest costs, indirect construction and overhead costs, and selling and marketing costs; (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property. Many assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing or decreasing monthly sales absorption rates has a direct impact on the estimated per unit sales price of a home, the level of time sensitive costs (such as indirect construction, overhead and carrying costs), and selling and marketing costs (such as model maintenance costs and advertising costs). Depending on the underlying objective of the community, assumptions could have a significant impact on the projected cash flow analysis. For example, if our objective is to preserve operating margins, our cash flow analysis will be different than if the objective is to increase sales. These objectives may vary significantly from community to community and over time. If assets are considered impaired, impairment is determined by the amount the asset’s carrying value exceeds its fair value. Fair value is determined based on estimated future cash flows discounted for inherent risks associated with real estate assets. These discounted cash flows are impacted by expected risk based on estimated land development, construction and delivery timelines; market risk of price erosion; uncertainty of development or construction cost increases; and other risks specific to the asset or market conditions where the asset is located when assessment is made. These factors are specific to each community and may vary among communities. We perform a quarterly review for indicators of impairment. For the year ended December 31, 2017 we had $854,000 of real estate inventory impairment charges. For the years ended December 31, 2016 and 2015 we recorded impairment charges of zero and $1.2 million , respectively. Revenue Recognition In accordance with ASC Topic 360, Property, Plant, and Equipment , revenues from home sales and other real estate sales are recorded and a profit is recognized when the respective units are delivered. Home sales and other real estate sales are delivered when all conditions of escrow are met, including delivery of the home or other real estate asset, title passage, appropriate consideration is received and collection of associated receivables, if any, is reasonably assured. Sales incentives are a reduction of revenues when the respective unit is delivered. When it is determined that the earnings process is not complete, the sale and/or the related profit are deferred for recognition in future periods using the percentage-of-completion method. The profit we record is based on the calculation of cost of sales, which is dependent on our allocation of costs, as described in more detail above in the section entitled “Real Estate Inventories and Cost of Sales.” Warranty Reserves In the normal course of business, we incur warranty-related costs associated with homes that have been delivered to homebuyers. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related home sales revenues are recognized while indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. Factors that affect the warranty accruals include the number of homes delivered, historical and anticipated rates of warranty claims and cost per claim. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. In addition, we maintain general liability insurance designed to protect us against a portion of our risk of loss from warranty and 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 certain subcontractors that are added to our general liability insurance policy. Our warranty reserve is based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against 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. We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including, the above-described reserve estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. Investments in Unconsolidated Entities We have investments in unconsolidated entities over which we have significant influence that we account for using the equity method with taxes provided on undistributed earnings. We record earnings and accrue taxes in the period that the earnings are recorded by our affiliates. Under the equity method, our share of the unconsolidated entities’ earnings or loss is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations. We evaluate our investments in unconsolidated entities for impairment when events and circumstances indicate that the carrying value of the investment has been impaired beyond a temporary period of time. For the year ended December 31, 2017 , we had a $13.2 million impairment charge related to a joint venture formed as a limited liability company in 1999 for the entitlement and development of land located in Los Angeles County, California. For the years ended December 31, 2016 and 2015 we did not have any impairment charges related to investments in unconsolidated entities. Variable Interest Entities The Company accounts for variable interest entities in accordance with ASC Topic 810, Consolidation (“ASC 810”). Under ASC 810, a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group (i) lack the direct or indirect ability to make decisions about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve, or are conducted on behalf of, the equity holder with disproportionately few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE. Under ASC 810, a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as inventories owned, which we would have to write off should we not exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a VIE may have been created. In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE. Stock-Based Compensation We account for share-based awards in accordance with ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the financial statements. ASC 718 requires all entities to apply a fair-value-based measurement method in accounting for share-based payment transactions with employees. Share-based awards are expensed on a straight-line basis over the expected vesting period. Sales and Marketing Expense Sales and marketing costs incurred to sell real estate projects are capitalized if they are reasonably expected to be recovered from the sale of the project or from incidental operations and are incurred for tangible assets that are used directly through the selling period to aid in the sale of the project or services that have been performed to obtain regulatory approval of sales. All other selling expenses and other marketing costs are expensed in the period incurred. Restructuring Charges Restructuring charges were incurred related to the merger (the “Merger”) with Weyerhaeuser Real Estate Company (“WRECO”), in addition to general cost reduction initiatives. These charges are composed of employee retention and severance-related expenses and lease termination costs. We account for restructuring charges in accordance with ASC Topic 420, Exit or Disposal Cost Obligations or ASC Topic 712 – Compensation – Nonretirement Postemployment Benefits. We had restructuring charges of $588,000 , $649,000 and $3.3 million for the years ended December 31, 2017 , 2016 and 2015, respectively. Restructuring charges are included in general and administrative expense on the consolidated statements of operations. Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”) . Deferred tax assets and liabilities are recorded based on future tax consequences of both temporary differences between the amounts reported for financial reporting purposes and the amounts deductible for income tax purposes, and are measured using enacted tax rates expected to apply in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the changes are enacted. Each quarter we assess our deferred tax assets to determine whether all or any portion of the assets 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. Due to uncertainties inherent in the estimation process, it is possible that actual results may vary from estimates. The enactment of the Tax Cuts and Jobs Act in the fourth quarter of 2017, among other things, reduced the federal corporate tax rate to 21% from 35%, effective January 1, 2018. This resulted in a $22.0 million reduction in our deferred tax asset. The ultimate impact of the Tax Cuts and Jobs Act may be different, possibly materially, due to changes in interpretations and assumptions, and guidance that may be issued and actions we may take in response to the tax law changes. We classify any interest and penalties related to income taxes as part of income tax expense. Goodwill and Other Intangible Assets In accordance with ASC Topic 350, Intangibles-Goodwill and Other (“ASC 350”), we evaluate goodwill and indefinite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. We have identified one reporting unit with goodwill, TRI Pointe Homes, and performed our annual goodwill impairment evaluation as of October 1, 2017. For further details on goodwill, see Note 8, Goodwill and Other Intangible Assets. For our TRI Pointe Homes reporting unit, we performed a qualitative assessment to determine whether it is more likely than not that its fair value is less than its carrying amount. Upon completion of the October 2017 annual impairment assessment, we determined that no goodwill impairment was indicated. As of December 31, 2017 , we are not aware of any significant indicators of impairment that exist for our goodwill that would require additional analysis. An impairment of our indefinite-lived intangible asset is based on a comparison of its fair value to book value, without consideration of any recoverability due to the indefinite nature of the asset. As of December 31, 2017 , we believe that our indefinite-lived intangible asset continues to have an indefinite life and that its fair value exceeds its carrying value. For further details on our indefinite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets. In accordance with ASC Topic 360, Property, Plant and Equipment ("ASC 360"), we evaluate finite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. An impairment in the carrying value of our finite-lived intangible asset is recognized whenever anticipated future undiscounted cash flows from the asset become unrecoverable and are estimated to be less than its carrying value. As of December 31, 2017 , we believe that the carrying value of our finite-lived intangible asset is recoverable and that its fair value is greater than its carrying value. For further details on our finite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets. Significant management judgment is required in the forecasts of future operating results that are used in our impairment evaluations. Our estimates are consistent with the plans and estimates that we use to manage our business. It is possible, however, that the plans may change and estimates used may prove to be inaccurate. If our actual results, or the plans and estimates used in future impairment analyses, are lower than the original estimates used to assess the recoverability of these assets, we could incur future impairment charges. Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Codified as "ASC 606"). The core principle of ASC 606 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. ASC 606 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. ASC 606 is 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 ASC 606, and we will adopt the new standard under the modified retrospective approach, effective January 1, 2018, by recognizing the net cumulative effect to the opening balance of retained earnings. We have substantially completed our evaluation on the impact that the adoption of ASC 606 will have on our financial statements, and are in process of finalizing the analysis of certain costs, including the impact on income taxes and related accounts, which we do not expect to have a material impact to our consolidated financial statements. Based on our analysis, the adoption of ASC 606 will not have a material impact on the amount or timing of our home sales revenue, but could impact the amount and timing of future land and lot sales. The adoption of ASC 606 will impact the timing of recognition and classification in our consolidated financial statements of certain sales office, model and other marketing related costs that we incur to obtain sales contracts from our customers. For example, we currently capitalize and amortize various sales office, model and other marketing related costs with each home delivered in a community. Under the new guidance, these costs will be expensed when incurred or capitalized to other assets and amortized to selling expense. We are adopting the modified retrospective approach and accordingly, the balance of any remaining unallocated capitalized sales office, model and other marketing related costs required to be expensed under ASC 606 will be recorded to our opening balance of retained earnings in our 2018 consolidated balance sheet. We expect to recognize an immaterial decrease to retained earnings. In addition to the cumulative effect to retained earnings, effective January 1, 2018, the adoption of ASC 606 will result in reclassifications among Consolidated Balance Sheet accounts, notably from real estate inventories to other assets. These reclassifications will not materially change the total amount of net assets existing at December 31, 2017. ASC 606 will result in enhanced disclosure requirements, including changes in contract related assets and liabilities, quantitative and qualitative information about contracts with customers and qualitative information about performance obligations. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, (Codified as “ASC 842”), 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. ASC 842 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 ASC 842 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. On January 1, 2017, we adopted ASU 2016-09. This new guidance requires that we record excess tax benefit and tax deficiencies related to the settlement of employee stock-based compensation to the income tax expense line item on our consolidated statement of operations. We previously recorded the excess tax benefits and tax deficiencies to the additional paid-in capital line item on our consolidated balance sheets. Under the new guidance, the Company elected the option to no longer apply a forfeiture rate to our stock-based compensation expense, and to recognize forfeitures as they occur. The adoption of the aforementioned amendments in ASU 2016-09 were applied using the modified retrospective approach and did not have a material impact on our current or prior year financial statements, with no resulting cumulative-effect adjustment to retained earnings. The new guidance also requires excess tax benefits to be classified as an operating activity in the statement of cash flows rather than as a financing activity. Additionally, ASU 2016-09 requires that the minimum tax withholding paid on behalf of employees for share-based awards be classified as a financing activity in the statement of cash flows. Adoption of ASU 2016-09 did not result in any adjustments to prior period disclosures on the statement of cash flows. 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, however we do not believe the guidance will have a material impact on our financial statements upon adoption. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, (“ASU 2017-04”), Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment , which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 to have a material impact on our financial statements.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information We operate two principal businesses: homebuilding and financial services. Our homebuilding operations consist of six homebuilding companies, each operating under different brand names, through which we 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, brand names, and underlying demand and supply. Based upon the above factors, our homebuilding operations comprise 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 reportable segment (“TRI Pointe Solutions”) comprises our mortgage financing operations and title services operations. Our mortgage financing operation (“TRI Pointe Connect”) provides mortgage financing to our homebuyers in all of the markets in which we operate. TRI Pointe Connect was formed as a joint venture with an established mortgage lender and is accounted for under the equity method of accounting. Our title services operation (“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 Group and acts as a title agency for First American Title Insurance Company. Corporate is 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 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): 2017 2016 2015 Revenues Maracay Homes $ 296,768 $ 255,253 $ 185,645 Pardee Homes 826,033 730,848 670,063 Quadrant Homes 247,939 213,221 189,401 Trendmaker Homes 253,825 244,001 278,759 TRI Pointe Homes 927,247 723,186 774,005 Winchester Homes 257,089 237,413 302,276 Total homebuilding revenues 2,808,901 2,403,922 2,400,149 Financial services 1,371 1,220 1,010 Total $ 2,810,272 $ 2,405,142 $ 2,401,159 Income before taxes Maracay Homes $ 23,987 $ 17,189 $ 9,849 Pardee Homes 198,738 204,237 183,077 Quadrant Homes 32,671 21,209 10,478 Trendmaker Homes 16,764 15,353 25,004 TRI Pointe Homes 89,811 62,013 104,970 Winchester Homes 15,472 16,147 22,411 Corporate (45,091 ) (39,698 ) (38,589 ) Total homebuilding income before income taxes 332,352 296,450 317,200 Financial services 7,466 5,777 2,060 Total $ 339,818 $ 302,227 $ 319,260 Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands): December 31, 2017 December 31, 2016 Real estate inventories Maracay Homes $ 243,883 $ 228,965 Pardee Homes 1,245,659 1,098,608 Quadrant Homes 257,887 221,386 Trendmaker Homes 204,926 211,035 TRI Pointe Homes 855,727 868,088 Winchester Homes 297,471 282,545 Total $ 3,105,553 $ 2,910,627 Total assets Maracay Homes $ 268,866 $ 255,466 Pardee Homes 1,346,296 1,201,302 Quadrant Homes 312,803 242,208 Trendmaker Homes 224,995 225,025 TRI Pointe Homes 1,062,920 1,052,400 Winchester Homes 313,921 305,379 Corporate 262,740 275,923 Total homebuilding assets 3,792,541 3,557,703 Financial services 12,840 6,937 Total $ 3,805,381 $ 3,564,640

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2017
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): Year Ended December 31, 2017 2016 2015 Numerator: Income available to common stockholders $ 187,191 $ 195,171 $ 205,461 Denominator: Basic weighted-average shares outstanding 154,134,411 160,859,782 161,692,152 Effect of dilutive shares: Stock options and unvested restricted stock units 950,955 521,717 627,606 Diluted weighted-average shares outstanding 155,085,366 161,381,499 162,319,758 Earnings per share Basic $ 1.21 $ 1.21 $ 1.27 Diluted $ 1.21 $ 1.21 $ 1.27 Antidilutive stock options not included in diluted earnings per share 3,288,340 4,551,337 2,622,391

Receivables, Net

Receivables, Net	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Receivables, Net	Receivables, Net Receivables, net consisted of the following (in thousands): December 31, 2017 December 31, 2016 Escrow proceeds and other accounts receivable, net $ 89,783 $ 35,625 Warranty insurance receivable (Note 13) 35,817 46,875 Total receivables $ 125,600 $ 82,500 Receivables are evaluated for collectability and allowances for potential losses are established or maintained on applicable receivables when collection becomes doubtful. Receivables were net of allowances for doubtful accounts of $330,000 in 2017 and $286,000 in 2016 .

Real Estate Inventories

Real Estate Inventories	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Real Estate Inventories	Real Estate Inventories Real estate inventories consisted of the following (in thousands): December 31, 2017 December 31, 2016 Real estate inventories owned: Homes completed or under construction $ 793,685 $ 659,210 Land under development 1,934,556 1,824,989 Land held for future development 138,651 226,915 Model homes 211,658 155,039 Total real estate inventories owned 3,078,550 2,866,153 Real estate inventories not owned: Land purchase and land option deposits 27,003 26,174 Consolidated inventory held by VIEs — 18,300 Total real estate inventories not owned 27,003 44,474 Total real estate inventories $ 3,105,553 $ 2,910,627 Homes completed or under construction comprises 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 option agreements as well as consolidated inventory held by a VIE. For further details, see Note 7, Variable Interest Entities . Interest incurred, capitalized and expensed were as follows (in thousands): Year Ended December 31, 2017 2016 2015 Interest incurred $ 84,264 $ 68,306 $ 60,964 Interest capitalized (84,264 ) (68,306 ) (60,964 ) Interest expensed $ — $ — $ — Capitalized interest in beginning inventory $ 157,329 $ 140,311 $ 124,461 Interest capitalized as a cost of inventory 84,264 68,306 60,964 Interest previously capitalized as a cost of inventory, included in cost of sales (65,245 ) (51,288 ) (45,114 ) Capitalized interest in ending inventory $ 176,348 $ 157,329 $ 140,311 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 as related units are delivered. Interest that is expensed as incurred is included in other income, net on the consolidated statements of operations. Real estate inventory impairments and land option abandonments Real estate inventory impairments and land option abandonments consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Real estate inventory impairments $ 854 $ — $ 1,167 Land and lot option abandonments and pre-acquisition costs 1,199 1,470 763 Total $ 2,053 $ 1,470 $ 1,930 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. 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. Real estate inventory impairments and land option abandonments are recorded in cost of home sales and cost of land and lot sales on the consolidated statements of operations.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	12 Months Ended
	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities As of December 31, 2017 , 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 5% to 65% , 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): December 31, 2017 2016 Limited liability company interests $ 2,687 $ 14,327 General partnership interests 3,183 3,219 Total $ 5,870 $ 17,546 In the fourth quarter of 2017, we fully impaired a $13.2 million investment in a joint venture formed as a limited liability company in 1999 for the entitlement and development of land located in Los Angeles County, California. This $13.2 million impairment charge is included in equity in (loss) income of unconsolidated entities under our homebuilding operations on the consolidated statements of operations. Although we continue to hold a 5% equity stake in the joint venture, we are a non-funding member of the limited liability company and we expect our equity stake to be further diluted. This impairment charge is included in the Pardee Homes reporting segment in Note 2, Segment Information . 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 investment in unconsolidated entities or on our consolidated statement of operations as equity in (loss) income of unconsolidated entities. Assets and liabilities of unconsolidated entities (in thousands): December 31, 2017 2016 Assets Cash $ 11,678 $ 9,796 Receivables 6,564 10,203 Real estate inventories 99,997 97,402 Other assets 936 1,087 Total assets $ 119,175 $ 118,488 Liabilities and equity Accounts payable and other liabilities $ 12,208 $ 12,844 Company’s equity 5,870 17,546 Outside interests' equity 101,097 88,098 Total liabilities and equity $ 119,175 $ 118,488 Results of operations from unconsolidated entities (in thousands): Year Ended December 31, 2017 2016 2015 Net sales $ 24,247 $ 18,725 $ 7,326 Other operating expense (13,904 ) (11,315 ) (6,690 ) Other income (expense) 120 4 (279 ) Net income $ 10,463 $ 7,414 $ 357 Company’s equity in (loss) income of unconsolidated entities $ (5,007 ) $ 4,989 $ 2,691

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities In the ordinary course of business, we enter into land option agreements in order to procure land and residential lots for future development and the construction of homes. The use of such land 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 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 option agreements and other similar contracts under the provisions of ASC 810 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 option agreements have no recourse against us. The maximum exposure to loss under our land 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 option agreements (in thousands): December 31, 2017 December 31, 2016 Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Consolidated VIEs $ — $ — $ — $ 400 $ 17,900 $ 18,300 Unconsolidated VIEs 3,418 112,590 N/A 2,375 49,016 N/A Other land option agreements 23,585 269,349 N/A 23,799 246,658 N/A Total $ 27,003 $ 381,939 $ — $ 26,574 $ 313,574 $ 18,300 Unconsolidated VIEs represent land option agreements that were not consolidated because we were not the primary beneficiary. Other land option agreements were not considered VIEs. In addition to the deposits presented in the table above, our exposure to loss related to our land option contracts consisted of capitalized pre-acquisition costs of $4.5 million and $3.6 million as of December 31, 2017 and 2016 , 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	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company recorded $139.3 million of goodwill in connection with the Merger with WRECO. As of December 31, 2017 and 2016 , $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 2, Segment Information . We have two intangible assets as of December 31, 2017 , 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): December 31, 2017 December 31, 2016 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 (6,322 ) 21,657 27,979 (5,788 ) 22,191 Total $ 167,283 $ (6,322 ) $ 160,961 $ 167,283 $ (5,788 ) $ 161,495 The remaining useful life of our amortizing intangible asset related to Maracay was 8.2 and 9.2 years as of December 31, 2017 and 2016 , respectively. Amortization expense related to this intangible asset was $534,000 for each of the years ended December 31, 2017 and 2016 , and was charged to sales and marketing expense. Our $17.3 million indefinite life intangible asset related to 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 next five years and thereafter is (in thousands): 2018 $ 534 2019 534 2020 534 2021 534 2022 534 Thereafter 1,687 Total $ 4,357

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): December 31, 2017 December 31, 2016 Prepaid expenses $ 13,040 $ 24,495 Refundable fees and other deposits 16,012 17,731 Development rights, held for future use or sale 2,569 2,569 Deferred loan costs 3,427 2,101 Operating properties and equipment, net 10,528 10,884 Other 2,494 2,812 Total $ 48,070 $ 60,592

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2017
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): December 31, 2017 December 31, 2016 Accrued payroll and related costs $ 36,863 $ 33,761 Warranty reserves (Note 13) 69,373 83,135 Estimated cost for completion of real estate inventories 105,864 59,531 Customer deposits 19,568 13,437 Income tax liability to Weyerhaeuser 7,706 8,589 Accrued income taxes payable 30,672 1,200 Liability for uncertain tax positions 1,458 — Accrued interest 11,014 11,570 Accrued insurance expense 1,187 529 Other tax liabilities 33,671 34,961 Other 13,506 17,132 Total $ 330,882 $ 263,845

Senior Notes and Notes Payable

Senior Notes and Notes Payable and Other Borrowings	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Senior Notes and Notes Payable and Other Borrowings	Senior Notes and Notes Payable and Other Borrowings Senior Notes Senior notes consisted of the following (in thousands): December 31, December 31, 4.375% Senior Notes due June 15, 2019 $ 450,000 $ 450,000 4.875% Senior Notes due July 1, 2021 300,000 300,000 5.875% Senior Notes due June 15, 2024 450,000 450,000 5.250% Senior Notes due June 1, 2027 300,000 — Discount and deferred loan costs (28,698 ) (31,693 ) Total $ 1,471,302 $ 1,168,307 In June 2017, TRI Pointe Group issued $300.0 million aggregate principal amount of 5.250% Senior Notes due 2027 (the “2027 Notes”) at 100.00% of their aggregate principal amount. Net proceeds of this issuance were $296.3 million , after debt issuance costs and discounts. The 2027 Notes mature on June 1, 2027 and interest is paid semiannually in arrears on June 1 and December 1 of each year until maturity, beginning on December 1, 2017. In May 2016, TRI Pointe Group issued $300.0 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. In connection with the Reorganization, TRI Pointe Group and TRI Pointe Homes became 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 the 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 December 31, 2017 , no principal has been paid on the 2019 Notes, 2021 Notes, 2024 Notes and 2027 Notes (collectively, the “Senior Notes”), and there was $19.9 million of capitalized debt financing costs, included in senior notes, net on our consolidated balance sheet, that will amortize over the lives of the Senior Notes. Accrued interest related to the Senior Notes was $10.6 million and $10.7 million as of December 31, 2017 and 2016 , respectively. Unsecured Revolving Credit Facility Unsecured revolving credit facility consisted of the following (in thousands): December 31, 2017 December 31, 2016 Unsecured revolving credit facility $ — $ 200,000 On June 20, 2017, the Company modified its existing unsecured revolving credit facility (the “Credit Facility”) to extend the maturity date by two years to May 18, 2021, while decreasing the total commitments under the Credit Facility to $600 million from $625 million . In addition, the Credit Facility was modified to give the Company the option to make offers to the lenders to extend the maturity date of the facility in twelve-month increments, subject to the satisfaction of certain conditions. The Credit Facility contains a sublimit of $75.0 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 1.25% to 2.00% , depending on the Company’s leverage ratio. As of December 31, 2017 , we had no outstanding debt under the Credit Facility and $592.3 million of availability after considering the borrowing base provisions and outstanding letters of credit. As of December 31, 2017 there was $3.4 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, 2021. Accrued interest related to the Credit Facility was $426,000 and $658,000 as of December 31, 2017 and 2016 , respectively. At December 31, 2017 and 2016 , we had outstanding letters of credit of $7.7 million and $4.3 million , respectively. 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): December 31, 2017 December 31, 2016 Seller financed loans $ — $ 13,726 Accrued interest on a seller finance loan outstanding as of December 31, 2016 was $519,000 . Interest Incurred During the years ended December 31, 2017 and 2016 , the Company incurred interest of $84.3 million and $68.3 million , respectively, related to all notes payable and Senior Notes outstanding during the period. All interest incurred was capitalized to inventory for the years ended December 31, 2017 and 2016 , respectively. Included in interest incurred was amortization of deferred financing and Senior Notes discount costs of $7.6 million and $6.5 million for the years ended December 31, 2017 and 2016 , respectively. Accrued interest related to all outstanding debt at December 31, 2017 and 2016 was $11.0 million and $11.6 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 December 31, 2017 and December 31, 2016 .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2017
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 December 31, 2017 and 2016 , related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands): December 31, 2017 December 31, 2016 Hierarchy Book Value Fair Value Book Value Fair Value Senior Notes (1) Level 2 $ 1,491,229 $ 1,552,335 $ 1,189,180 $ 1,219,125 Unsecured revolving credit facility (2) Level 2 $ — $ — $ 200,000 $ 177,410 Seller financed loans (3) Level 2 $ — $ — $ 13,726 $ 13,189 __________ (1) The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $19.9 million and $20.9 million as of December 31, 2017 and 2016 , respectively. The estimated fair value of our Senior Notes at December 31, 2017 and 2016 is based on quoted market prices. (2) The estimated fair value of the Credit Facility at December 31, 2016 was based on a treasury curve analysis. (3) The estimated fair value of the seller financed loan at December 31, 2016 was based on a treasury curve analysis. At December 31, 2017 and 2016 , 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 with events and circumstances indicating 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): Year Ended December 31, 2017 Year Ended December 31, 2016 Impairment Charge Fair Value Net of Impairment Impairment Charge Fair Value Net of Impairment Real estate inventories (1) $ 854 $ 12,950 $ — $ — (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	12 Months Ended
	Dec. 31, 2017
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. As of December 31, 2017 we did not have any matters to which the Company believes a loss is probable and reasonably estimable. Legal reserves were zero and $225,000 as of December 31, 2017 and 2016, respectively. On April 3, 2017, Pardee Homes was named as a defendant in a lawsuit filed in San Diego County Superior Court by Scripps Health (“Scripps”) related to the April 1989 sale by Pardee Homes of real property located in Carmel Valley, California to Scripps pursuant to a purchase agreement dated December 18, 1987 (as amended, the “Purchase Agreement”). In March 2003, Scripps contacted Pardee Homes and alleged Pardee Homes had breached a covenant in the Purchase Agreement by failing to record a restriction against the development of the surrounding property then owned by Pardee Homes for medical office use. In November 2003, the parties entered into a tolling agreement, pursuant to which the parties agreed to toll any applicable statutes of limitation from November 3, 2003 until the expiration of the agreement. The tolling agreement did not revive any cause of action already time barred by a statute of limitation as of November 3, 2003. The tolling agreement was terminated as of February 21, 2017. Pardee Homes became an indirect, wholly owned subsidiary of TRI Pointe on July 7, 2014 in connection with TRI Pointe’s acquisition of WRECO. We intend to vigorously defend the action, and intend to continue challenging Scripps' claims. Although we cannot predict or determine the timing or final outcome of the lawsuit or the effect that any adverse findings or determinations may have on us, we believe Scripps has no actionable claims against Pardee Homes and that this dispute will not have a material impact on our business, liquidity, financial condition and results of operations. An unfavorable determination could result in the payment by us of monetary damages, which could be significant. The complaint does not indicate the amount of relief sought, and an estimate of possible loss or range of loss cannot presently be made with respect to this matter. No reserve with respect to this matter has been recorded on our consolidated financial statements. 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 warranty and construction defect-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 certain subcontractors that are added to our general liability insurance policy. Our warranty reserve and related estimated insurance recoveries are based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs and related recoveries. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against 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. We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including, the above-described reserve estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. Outstanding warranty insurance receivables were $35.8 million and $46.9 million as of December 31, 2017 and 2016 , respectively. Warranty insurance receivables are recorded in receivables on the accompanying consolidated balance sheet. Warranty reserves consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Warranty reserves, beginning of period $ 83,135 $ 45,948 $ 33,270 Warranty reserves accrued 13,336 12,712 16,557 Adjustments to pre-existing reserves (1) (9,354 ) 36,826 7,451 Warranty expenditures (17,744 ) (12,351 ) (11,330 ) Warranty reserves, end of period $ 69,373 $ 83,135 $ 45,948 __________ (1) Included in this amount for 2016 is approximately $38.0 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2016. Of the $38.0 million adjusted in 2016, approximately $36.5 million related to prior year estimated warranty insurance recoveries. Performance Bonds We obtain surety bonds in the normal course of business with various municipalities and other government agencies to secure completion of certain infrastructure improvements of our projects. As of December 31, 2017 and December 31, 2016 , the Company had outstanding surety bonds totaling $537.4 million and $449.6 million , respectively. If any such performance bonds or letters of credit are called, we would be obligated to reimburse the issuer of the performance bond or letter of credit. We do not believe that a material amount of any currently outstanding performance bonds or letters of credit will be called. Performance bonds do not have stated expiration dates. Rather, we are released from the performance bonds as the underlying performance is completed. Operating Leases Office Space, Buildings and Equipment We lease certain property and equipment under non-cancelable operating leases. Office leases are for terms up to nine years and generally provide renewal options for terms up to an additional five years. In most cases, we expect that, in the normal course of business, leases that expire will be renewed or replaced by other leases. Equipment leases are typically for terms of three to four years. The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancellable lease terms in excess of one year , are as follows (in thousands): 2018 $ 7,006 2019 6,744 2020 6,769 2021 5,544 2022 3,107 Thereafter 3,044 $ 32,214 For the years ended December 31, 2017 , 2016 and 2015 , rental expense was $6.9 million , $6.4 million and $6.2 million , respectively. Rental expense is included in general and administrative expenses on the consolidated statements of operations. Ground Leases In 1987, we obtained two 55 -year ground leases of commercial property that provided for three renewal options of ten years each and one 45 -year renewal option. We exercised the three ten year extensions on one of these ground leases extending the lease through 2071. The commercial buildings on these properties have been sold and the ground leases have been sublet to the buyers. For one of these leases, we are responsible for making lease payments to the land owner, and we collect sublease payments from the buyers of the buildings. Our lease commitments under this ground lease, which extends through 2071, were (in thousands): 2018 $ 2,239 2019 2,239 2020 2,239 2021 2,239 2022 2,239 Thereafter 72,753 $ 83,948 This ground lease has been subleased through 2041 to the buyers of the commercial buildings. Our lease commitments through 2041 total $53.7 million as of December 31, 2017 , and are fully offset by sublease receipts under the noncancellable subleases. For the second lease, the buyers of the buildings are responsible for making lease payments directly to the land owner. However, we have guaranteed the performance of the buyers/lessees. As of December 31, 2017 , guaranteed future payments on the lease, which expires in 2041, were $12.5 million . Purchase Obligations In the ordinary course of business, we enter into land option contracts in order to procure lots for the construction of our homes. We are subject to customary obligations associated with entering into contracts for the purchase of land and improved lots. These purchase contracts typically require a cash deposit and the purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements. We also utilize option contracts with land sellers as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the use of funds from our corporate financing sources. Option contracts generally require a non-refundable deposit for the right to acquire lots over a specified period of time at pre-determined prices. We generally have the right at our discretion to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit with no further financial responsibility to the land seller. As of December 31, 2017 , we had $27.0 million of non-refundable cash deposits pertaining to land option contracts and purchase contracts with an aggregate remaining purchase price of approximately $381.9 million (net of deposits). Our utilization of land option contracts is dependent on, among other things, the availability of land sellers willing to enter into option takedown arrangements, the availability of capital to financial intermediaries to finance the development of optioned lots, general housing market conditions, and local market dynamics. Options may be more difficult to procure from land sellers in strong housing markets and are more prevalent in certain geographic regions.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2017
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 December 31, 2017 there were 6,228,769 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) on July 16, 2014 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): Year Ended December 31, 2017 2016 2015 Total stock-based compensation $ 15,906 $ 12,612 $ 11,935 Stock-based compensation is charged to general and administrative expense on the accompanying consolidated statements of operations. As of December 31, 2017 , total unrecognized stock-based compensation related to all stock-based awards was $17.3 million and the weighted average term over which the expense was expected to be recognized was 1.57 years. Summary of Stock Option Activity The following table presents a summary of stock option awards for the year ended December 31, 2017 : Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Options outstanding at December 31, 2016 2,971,370 $ 13.12 4.4 $ 1,568 Granted — — — Exercised (1,066,298 ) 11.74 Forfeited (750,414 ) 14.09 Options outstanding at December 31, 2017 1,154,658 14.16 4.9 $ 4,350 Options exercisable at December 31, 2017 1,039,819 $ 14.15 4.8 $ 3,933 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. The total intrinsic value of stock option awards exercised during the years ended December 31, 2017 , 2016 and 2015 was $4.5 million , $324,000 and $642,000 , respectively. There were no stock option awards granted or assumed during the years ended December 31, 2017 , 2016 and 2015 . Summary of Restricted Stock Unit Activity The following table presents a summary of restricted stock units (“RSUs”) for the year ended December 31, 2017 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Aggregate Intrinsic Value (in thousands) Nonvested RSUs at December 31, 2016 3,412,719 $ 9.77 $ 39,179 Granted 1,670,936 11.00 Vested (714,612 ) 12.34 Forfeited (61,451 ) 11.66 Nonvested RSUs at December 31, 2017 4,307,592 $ 9.80 $ 77,192 The total intrinsic value of restricted stock units that vested during the years ended December 31, 2017 , 2016 and 2015 was $8.8 million , $4.6 million and $6.8 million, respectively. The total grant date fair value of restricted stock awards granted during the years ended December 31, 2017 , 2016 and 2015 were $18.4 million , $21.8 million and $18.3 million , respectively. 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 ("TSR") to the TSRs 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. On March 27, 2017, 21,276 of these RSUs vested in their entirety and on May 25, 2017, 53,190 of these RSUs vested in their entirety. 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 was expensed on a straight-line basis over the vesting period. On February 27, 2017, the Company granted an aggregate of 990,279 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 February 27, 2017 was measured using a price of $12.10 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 February 27, 2017, the Company granted 257,851 , 247,933 and 119,008 performance-based RSUs to the Company’s Chief Executive Officer, President, and Chief Financial Officer, respectively. These performance-based RSUs are allocated in equal parts to two separate performance metrics: (i) TSR, with vesting based on the Company’s TSR relative to its peer-group homebuilders; and (ii) earnings per share. 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 performance period for these performance-based RSUs is January 1, 2017 to December 31, 2019. The fair value of the performance-based RSUs related to the TSR metric was determined to be $6.16 per share 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 $12.10 per share, which was the closing stock price on the date of grant. Each award will be expensed over the requisite service period. On May 30, 2017, the Company granted an aggregate of 55,865 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 2018 Annual Meeting of Stockholders. The fair value of each RSU granted on May 30, 2017 was measured using a price of $12.53 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.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income tax attributable to income before income taxes consisted of (in thousands): Year Ended December 31, 2017 2016 2015 Current: Federal $ 95,814 $ 90,387 $ 91,343 State 8,961 8,744 6,715 Total current taxes 104,775 99,131 98,058 Deferred: Federal 37,151 5,749 8,296 State 10,341 1,214 5,725 Total deferred taxes 47,492 6,963 14,021 Total income tax expense $ 152,267 $ 106,094 $ 112,079 The Company’s provision for income taxes was different from the amount computed by applying the statutory federal income tax rate of 35% to the underlying income before income taxes as a result of the following (in thousands): Year Ended December 31, 2017 2016 2015 Taxes at the U.S. federal statutory rate $ 118,936 $ 105,779 $ 111,846 State income taxes, net of federal tax impact 10,712 9,539 9,627 Domestic production activities deduction (7,108 ) (5,037 ) (5,566 ) Non-deductible transaction costs 541 305 — Change in valuation allowance 3,256 (4,038 ) (1,872 ) Tax Cuts and Jobs Act 21,961 — — Other, net 3,969 (454 ) (1,956 ) Total income tax expense $ 152,267 $ 106,094 $ 112,079 Effective income tax rate 44.8 % 35.1 % 35.1 % Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax basis, and for operating loss and tax credit carryforwards. Deferred taxes consisted of the following at December 31, 2017 and 2016 (in thousands): Year Ended December 31, 2017 2016 Deferred tax assets: Impairment and other valuation reserves $ 40,438 $ 73,890 Incentive compensation 5,851 8,322 Indirect costs capitalized 19,574 25,377 Net operating loss carryforwards (state) 25,172 24,583 State taxes 2,181 2,985 Other costs and expenses 11,354 15,214 Gross deferred tax assets 104,570 150,371 Valuation allowance (3,478 ) (323 ) Deferred tax assets, net of valuation allowance 101,092 150,048 Deferred tax liabilities: Interest capitalized (7,144 ) (814 ) Basis difference in inventory (9,207 ) (14,186 ) Fixed assets (1,710 ) (1,101 ) Intangibles (5,360 ) (8,456 ) Deferred financing costs (898 ) (924 ) Other (360 ) (1,344 ) Deferred tax liabilities (24,679 ) (26,825 ) Net deferred tax assets $ 76,413 $ 123,223 On December 22, 2017, the Tax Cuts and Jobs Act was enacted, reducing the U.S. federal corporate income tax rate from 35% to 21%, among other changes. The SEC staff issued Staff Accounting Bulletin 118, which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act, for which the accounting under ASC 740 is incomplete. To the extent that a company's accounting for certain income tax effects of the Tax Cuts and Jobs Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before enactment of the Tax Cuts and Jobs Act. As of December 31, 2017, we have completed the majority of our accounting for the tax effects of the Tax Cuts and Jobs Act. However, there is some uncertainty around the grandfathering provisions related to performance-based executive compensation. In addition, we also re-measured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. However, we are still analyzing certain aspects of the Tax Cuts and Jobs Act and state conformity to those provisions and refining our calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. As of December 31, 2017, the Company recorded an income tax charge of $22.0 million related to the re-measurement of our deferred tax assets related to the Tax Cuts and Jobs Act. The Company accounts for income taxes in accordance with 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. As of December 31, 2017 , the Company had a state net operating loss carryforward of $385.9 million , which will expire between 2028 and 2036 . As of December 31, 2017 and 2016 , we had a valuation allowance on our deferred tax assets of $3.5 million and $323,000 , respectively. The increase in our valuation allowance in 2017 was related to the $13.2 million impairment of our investment in a limited liability company joint venture for the entitlement and development of land located in a Los Angeles County, California that was recorded in the fourth quarter of 2017. A valuation allowance was recorded against the deferred tax asset related to this impairment due to the fact that the joint venture if disposed at its carrying value would result in a capital loss, the realization of which is uncertain. The decrease in the valuation allowance in 2016 was principally due to a release of the valuation allowance against the deferred tax asset related to state net operating loss carryovers as realization of tax benefits are more likely than not to occur. 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. Unrecognized tax benefits represent potential future obligations to taxing authorities if uncertain tax positions we have taken on previously filed tax returns are not sustained. These amounts represent the gross amount of exposure in individual jurisdictions and do not reflect any additional benefits expected to be realized if such positions were not sustained, such as federal deduction that could be realized if an unrecognized state deduction was not sustained. The Company files income tax returns in the U.S., including federal and multiple state and local jurisdictions. The Company’s tax years 2014-2016 will remain open to examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any net operating loss or credit carryforwards. The following table summarizes the activity related to the Company’s gross unrecognized tax benefits (in thousands): Year Ended December 31, 2017 2016 Balance at beginning of year $ — $ 272 Increase (decrease) related to prior year tax positions 1,521 (272 ) Balance at end of year $ 1,521 $ — The Company classifies interest and penalties related to income taxes as part of income tax expense. The Company has not recorded any tax expense for interest and penalties on uncertain tax positions during the years ended December 31, 2017, 2016 and 2015. The Company estimates that the uncertain tax positions, if reversed, would result in a tax benefit of approximately $1.4 million .

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions TRI Pointe has certain liabilities with Weyerhaeuser related to a tax sharing agreement executed in connection with the Merger. The liabilities under the tax sharing agreement relate to a portion of the California net operating loss generated prior to the WRECO Merger that are expected to be realized after July 7, 2014; federal tax credits generated prior to the Merger that are expected to be realized after July 7, 2014; and deductions for stock option awards granted through December 31, 2013 that are expected to be realized after July 7, 2014. As of December 31, 2017 and 2016 , we had an income tax liability to Weyerhaeuser of $7.7 million and $8.6 million , respectively, which is recorded in accrued expenses and other liabilities on the accompanying balance sheet. We had no related party transactions for the twelve months ended December 31, 2017. In May of 2016, we entered into an agreement with an affiliate of Starwood Capital Group, a then greater than 5% holder of our common stock, to acquire 52 lots located in Azusa, California, for an aggregate purchase price of $18.4 million . In October of 2016, we acquired 27 of these lots for a purchase price of $9.6 million . Our former Chairman of the Board is also the Chairman and Chief Executive Officer of Starwood Capital Group. This acquisition was approved by our independent directors. 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. In August of 2016, we agreed to purchase 257 additional lots for an aggregate purchase price of approximately $8.6 million . In October of 2016, we acquired 126 of these lots for a purchase price of $4.2 million . This acquisition was approved by our independent directors. As of March 27, 2017, Starwood Capital Group is no longer a related party. 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 $60.0 million . BlackRock, Inc. is a greater than 5% holder of our common stock. This acquisition was approved by the executive land committee, which was comprised of independent directors. In the second half of 2016, we acquired an additional 93 lots located in Dublin, California, for a combined purchase price of approximately $25.5 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 Statement of Cash Flow	12 Months Ended
	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure to Consolidated Statement of Cash Flow	Supplemental Disclosure to Consolidated Statement of Cash Flow The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Year Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Cash paid during the period for: Interest, net of amounts capitalized of $77,193, $53,028 and $60,964 $ — $ — $ — Income taxes $ 74,388 $ 117,215 $ 69,917 Supplemental disclosures of noncash activities: Accrued liabilities related to the purchase of operating properties and equipment $ — $ 1,828 $ 3,976 Amortization of senior note discount capitalized to real estate inventory $ 2,048 $ 1,815 $ 1,552 Amortization of deferred loan costs capitalized to real estate inventory $ 5,578 $ 4,642 $ 3,820 Effect of net consolidation and de-consolidation of variable interest entities: (Decrease) increase in consolidated real estate inventory not owned $ (17,485 ) $ (316 ) $ 5,297 Increase in accrued expenses and other liabilities $ — $ — $ 300 Decrease (increase) in noncontrolling interests $ 17,485 $ 316 $ (5,597 )

Supplemental Guarantor Informat

Supplemental Guarantor Information	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Information	Supplemental Guarantor Information 2021 Notes and 2027 Notes On May 26, 2016, TRI Pointe Group issued the 2021 Notes. On June 5, 2017, TRI Pointe Group issued the 2027 Notes. All of TRI Pointe Group’s 100% owned subsidiaries that are guarantors (each a “Guarantor” and, collectively, the “Guarantors”) of the Credit Facility, including TRI Pointe Homes, are party to supplemental indentures pursuant to which they jointly and severally guarantee TRI Pointe Group’s obligations with respect to the 2021 Notes and the 2027 Notes. Each Guarantor of the 2021 Notes and the 2027 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 and the 2027 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 and the 2027 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 or the 2027 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 December 31, 2017 and December 31, 2016 , condensed consolidating statements of operations for the full years ended December 31, 2017 , 2016 and 2015 , and condensed consolidating statements of cash flows for the full years ended December 31, 2017 , 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): December 31, 2017 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 176,684 $ 106,230 $ — $ 282,914 Receivables 56,021 69,579 — 125,600 Intercompany receivables 794,550 — (794,550 ) — Real estate inventories 855,727 2,249,826 — 3,105,553 Investments in unconsolidated entities — 5,870 — 5,870 Goodwill and other intangible assets, net 156,604 4,357 — 160,961 Investments in subsidiaries 1,448,690 — (1,448,690 ) — Deferred tax assets, net 10,892 65,521 — 76,413 Other assets 3,465 44,605 — 48,070 Total Assets $ 3,502,633 $ 2,545,988 $ (2,243,240 ) $ 3,805,381 Liabilities Accounts payable $ 9,364 $ 63,506 $ — $ 72,870 Intercompany payables — 794,550 (794,550 ) — Accrued expenses and other liabilities 92,245 238,637 — 330,882 Senior notes, net 1,471,302 — — 1,471,302 Total Liabilities 1,572,911 1,096,693 (794,550 ) 1,875,054 Equity Total stockholders’ equity 1,929,722 1,448,690 (1,448,690 ) 1,929,722 Noncontrolling interests — 605 — 605 Total Equity 1,929,722 1,449,295 (1,448,690 ) 1,930,327 Total Liabilities and Equity $ 3,502,633 $ 2,545,988 $ (2,243,240 ) $ 3,805,381 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Balance Sheet (in thousands): December 31, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 141,568 $ 67,089 $ — $ 208,657 Receivables 26,692 55,808 — 82,500 Intercompany receivables 775,321 — (775,321 ) — Real estate inventories 868,088 2,042,539 — 2,910,627 Investments in unconsolidated entities — 17,546 — 17,546 Goodwill and other intangible assets, net 156,604 4,891 — 161,495 Investments in subsidiaries 1,285,295 — (1,285,295 ) — Deferred tax assets, net 15,644 107,579 — 123,223 Other assets 11,401 49,191 — 60,592 Total Assets $ 3,280,613 $ 2,344,643 $ (2,060,616 ) $ 3,564,640 Liabilities Accounts payable $ 20,637 $ 49,615 $ — $ 70,252 Intercompany payables — 775,321 (775,321 ) — Accrued expenses and other liabilities 48,496 215,349 — 263,845 Unsecured revolving credit facility 200,000 — — 200,000 Seller financed loans 13,726 — — 13,726 Senior notes, net 1,168,307 — — 1,168,307 Total Liabilities 1,451,166 1,040,285 (775,321 ) 1,716,130 Equity Total stockholders’ equity 1,829,447 1,285,295 (1,285,295 ) 1,829,447 Noncontrolling interests — 19,063 — 19,063 Total Equity 1,829,447 1,304,358 (1,285,295 ) 1,848,510 Total Liabilities and Equity $ 3,280,613 $ 2,344,643 $ (2,060,616 ) $ 3,564,640 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Operations (in thousands): Year Ended December 31, 2017 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 927,247 $ 1,805,052 $ — $ 2,732,299 Land and lot sales revenue — 74,269 — 74,269 Other operations revenue — 2,333 — 2,333 Total revenues 927,247 1,881,654 — 2,808,901 Cost of home sales 780,732 1,392,519 — 2,173,251 Cost of land and lot sales — 14,888 — 14,888 Other operations expense — 2,298 — 2,298 Sales and marketing 34,286 102,780 — 137,066 General and administrative 67,006 70,758 — 137,764 Homebuilding income from operations 45,223 298,411 — 343,634 Equity in loss of unconsolidated entities — (11,433 ) — (11,433 ) Other income, net 38 113 — 151 Homebuilding income before taxes 45,261 287,091 — 332,352 Financial Services: Revenues — 1,371 — 1,371 Expenses — 331 — 331 Equity in income of unconsolidated entities — 6,426 — 6,426 Financial services income before taxes — 7,466 — 7,466 Income before taxes 45,261 294,557 — 339,818 Provision for income taxes (22,501 ) (129,766 ) — (152,267 ) Equity of net income (loss) of subsidiaries 164,431 — (164,431 ) — Net income (loss) 187,191 164,791 (164,431 ) 187,551 Net income attributable to noncontrolling interests — (360 ) — (360 ) Net income (loss) available to common stockholders $ 187,191 $ 164,431 $ (164,431 ) $ 187,191 _________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Operations (in thousands): Year Ended December 31, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 723,186 $ 1,606,150 $ — $ 2,329,336 Land and lot sales revenue — 72,272 — 72,272 Other operations revenue — 2,314 — 2,314 Total revenues 723,186 1,680,736 — 2,403,922 Cost of home sales 607,316 1,229,011 — 1,836,327 Cost of land and lot sales — 17,367 — 17,367 Other operations expense — 2,247 — 2,247 Sales and marketing 29,092 98,811 — 127,903 General and administrative 59,327 64,792 — 124,119 Homebuilding income from operations 27,451 268,508 — 295,959 Equity in income of unconsolidated entities — 179 — 179 Other income, net 149 163 — 312 Homebuilding income before taxes 27,600 268,850 — 296,450 Financial Services: Revenues — 1,220 — 1,220 Expenses — 253 — 253 Equity in income of unconsolidated entities — 4,810 — 4,810 Financial services income before taxes — 5,777 — 5,777 Income before taxes 27,600 274,627 — 302,227 Provision for income taxes (11,322 ) (94,772 ) — (106,094 ) Equity of net income (loss) of subsidiaries 178,893 — (178,893 ) — Net income (loss) 195,171 179,855 (178,893 ) 196,133 Net income attributable to noncontrolling interests — (962 ) — (962 ) Net income (loss) available to common stockholders $ 195,171 $ 178,893 $ (178,893 ) $ 195,171 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Operations (in thousands): Year Ended December 31, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 774,005 $ 1,517,259 $ — $ 2,291,264 Land and lot sales revenue — 101,284 — 101,284 Other operations revenue — 7,601 — 7,601 Total revenues 774,005 1,626,144 — 2,400,149 Cost of home sales 624,791 1,183,985 — 1,808,776 Cost of land and lot sales — 35,089 — 35,089 Other operations expense — 4,360 — 4,360 Sales and marketing 26,792 89,425 — 116,217 General and administrative 55,442 65,383 — 120,825 Homebuilding income from operations 66,980 247,902 — 314,882 Equity in income of unconsolidated entities — 1,460 — 1,460 Other (loss) income, net (127 ) 985 — 858 Homebuilding income before taxes 66,853 250,347 — 317,200 Financial Services: Revenues — 1,010 — 1,010 Expenses — 181 — 181 Equity in income of unconsolidated entities — 1,231 — 1,231 Financial services income before taxes — 2,060 — 2,060 Income before taxes 66,853 252,407 — 319,260 Provision for income taxes (20,001 ) (92,078 ) — (112,079 ) Equity of net income (loss) of subsidiaries 158,609 — (158,609 ) — Net income (loss) 205,461 160,329 (158,609 ) 207,181 Net income attributable to noncontrolling interests — (1,720 ) — (1,720 ) Net income (loss) available to common stockholders $ 205,461 $ 158,609 $ (158,609 ) $ 205,461 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Cash Flows (in thousands): Year Ended December 31, 2017 Issuer (1) Guarantor Consolidating Consolidated Cash flows from operating activities: Net cash provided by operating activities $ 73,208 $ 28,466 $ — $ 101,674 Cash flows from investing activities: Purchases of property and equipment (1,424 ) (1,181 ) — (2,605 ) Proceeds from sale of property and equipment — 6 — 6 Investments in unconsolidated entities — (980 ) — (980 ) Intercompany (14,163 ) — 14,163 — Net cash (used in) provided by investing activities (15,587 ) (2,155 ) 14,163 (3,579 ) Cash flows from financing activities: Borrowings from debt 500,000 — — 500,000 Repayment of debt (413,726 ) — — (413,726 ) Debt issuance costs (5,957 ) — — (5,957 ) Distributions to noncontrolling interests — (1,333 ) — (1,333 ) Proceeds from issuance of common stock under share-based 12,291 — — 12,291 Minimum tax withholding paid on behalf of employees for (2,896 ) — — (2,896 ) Share repurchases (112,217 ) — — (112,217 ) Intercompany — 14,163 (14,163 ) — Net cash (used in) provided by financing activities (22,505 ) 12,830 (14,163 ) (23,838 ) Net increase in cash and cash equivalents 35,116 39,141 — 74,257 Cash and cash equivalents - beginning of year 141,568 67,089 — 208,657 Cash and cash equivalents - end of year $ 176,684 $ 106,230 $ — $ 282,914 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Cash Flows (in thousands): Year Ended December 31, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities: Net cash (used in) provided by operating activities $ (179,397 ) $ 21,087 $ — $ (158,310 ) Cash flows from investing activities: Purchases of property and equipment (1,603 ) (2,382 ) — (3,985 ) Proceeds from sale of property and equipment — 9 — 9 Investments in unconsolidated entities — (32 ) — (32 ) Intercompany 12,102 — (12,102 ) — Net cash provided by (used in) investing activities 10,499 (2,405 ) (12,102 ) (4,008 ) Cash flows from financing activities: Borrowings from debt 541,069 — — 541,069 Repayment of debt (330,458 ) (400 ) — (330,858 ) Debt issuance costs (5,062 ) — — (5,062 ) Repayment of debt payable to Weyerhaeuser — (2,442 ) — (2,442 ) Decrease in book overdrafts — 1,955 — 1,955 Distributions to Weyerhaeuser — (5,318 ) — (5,318 ) Proceeds from issuance of common stock under share-based awards 587 — — 587 Minimum tax withholding paid on behalf of employees for share-based awards (1,359 ) — — (1,359 ) Share repurchases (42,082 ) — — (42,082 ) Intercompany — (12,102 ) 12,102 — Net cash provided by (used in) financing activities 162,695 (18,307 ) 12,102 156,490 Net (decrease) increase in cash and cash equivalents (6,203 ) 375 — (5,828 ) Cash and cash equivalents - beginning of year 147,771 66,714 — 214,485 Cash and cash equivalents - end of year $ 141,568 $ 67,089 $ — $ 208,657 _________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Cash Flows (in thousands): Year Ended December 31, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities Net cash provided by operating activities $ 1,714 $ 29,291 $ — $ 31,005 Cash flows from investing activities: Purchases of property and equipment (1,063 ) 254 — (809 ) Investments in unconsolidated entities — (1,468 ) — (1,468 ) Distributions from unconsolidated entities — 1,415 — 1,415 Intercompany 16,717 — (16,717 ) — Net cash provided by (used in) investing activities 15,654 201 (16,717 ) (862 ) Cash flows from financing activities: Borrowings from debt 140,000 — — 140,000 Repayment of debt (112,651 ) (200 ) — (112,851 ) Debt issuance costs (2,688 ) — — (2,688 ) Net repayments of debt held by variable interest entities — (6,769 ) — (6,769 ) Contributions from noncontrolling interests — 5,990 — 5,990 Distributions to noncontrolling interests — (9,823 ) — (9,823 ) Proceeds from issuance of common stock under 1,616 — — 1,616 Excess tax benefits of share-based awards 428 — — 428 Minimum tax withholding paid on behalf of employees for restricted stock units (2,190 ) — — (2,190 ) Intercompany — (16,717 ) 16,717 — Net cash provided by (used in) financing activities 24,515 (27,519 ) 16,717 13,713 Net increase in cash and cash equivalents 41,883 1,973 — 43,856 Cash and cash equivalents - beginning of period 105,888 64,741 — 170,629 Cash and cash equivalents - end of period $ 147,771 $ 66,714 $ — $ 214,485 __________ (1) References to “Issuer” in Note 18, 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

Results of Quarterly Operations

Results of Quarterly Operations	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Results of Quarterly Operations	Results of Quarterly Operations (Unaudited) The following table presents our unaudited quarterly financial data (in thousands, except per share amounts). First Second Third Fourth 2017 Quarter Quarter Quarter Quarter Total revenues (1) $ 393,391 $ 570,626 $ 717,735 $ 1,128,520 Cost of homes sales and other (2) 319,618 455,476 534,494 880,849 Gross margin $ 73,773 $ 115,150 $ 183,241 $ 247,671 Net income $ 8,217 $ 32,803 $ 72,289 $ 74,242 Net income attributable to noncontrolling interests (24 ) (89 ) $ (25 ) (222 ) Net income available to common stockholders $ 8,193 $ 32,714 $ 72,264 $ 74,020 Earnings per share Basic $ 0.05 $ 0.21 $ 0.48 $ 0.49 Diluted $ 0.05 $ 0.21 $ 0.48 $ 0.49 __________ (1) Total revenues includes total homebuilding revenues and financial services revenue. (2) Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense. First Second Third Fourth 2016 Quarter Quarter Quarter Quarter Total revenues (1) $ 424,138 $ 625,222 $ 582,029 $ 773,753 Cost of homes sales and other (2) 325,844 447,781 464,632 617,684 Gross margin $ 98,294 $ 177,441 $ 117,397 $ 156,069 Net income $ 28,710 $ 74,193 $ 35,145 $ 58,085 Net income attributable to noncontrolling interests (160 ) (267 ) (311 ) (224 ) Net income available to common stockholders $ 28,550 $ 73,926 $ 34,834 $ 57,861 Earnings per share Basic $ 0.18 $ 0.46 $ 0.22 $ 0.36 Diluted $ 0.18 $ 0.46 $ 0.22 $ 0.36 __________ (1) Total revenues includes total homebuilding revenues and financial services revenue. (2) Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense. Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarter may not agree with per share amounts for the year.

Organization and Summary of S26

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Organization, Formation of TRI Pointe Group and Basis of Presentation	Organization TRI Pointe Group, Inc. (“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, Inc. (“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 Securities Exchange Act of 1934, as amended (the “Exchange Act”)), began making filings under the Securities Act of 1933, as amended, 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’ unsecured revolving credit facility. Basis of Presentation The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“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 described in “Reverse Acquisition” below, 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 December 31, 2017 and 2016 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. Unless the context otherwise requires, the terms “we”, “us”, “our” and “the Company” have the following meanings: • For periods prior to July 7, 2015: TRI Pointe Homes (and its consolidated subsidiaries) • For periods from and after July 7, 2015: TRI Pointe Group (and its consolidated subsidiaries)
Reclassifications	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 condensed reporting of restructuring charges, included in general and administrative expense on the consolidated statements of operations in this annual report on Form 10-K.
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.
Subsequent Events	Subsequent Events We evaluated subsequent events up until our consolidated financial statements were filed with the Securities and Exchange Commission.
Cash and Cash Equivalents and Concentration of Credit Risk	Cash and Cash Equivalents and Concentration of Credit Risk We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Real Estate Inventories and Cost of Sales	Real Estate Inventories and Cost of Sales Real estate inventories consist of land, land under development, homes under construction, completed homes and model homes and are stated at cost, net of impairment losses. We capitalize direct carrying costs, including interest, property taxes and related development costs to inventories. Field construction supervision and related direct overhead are also included in the capitalized cost of inventories. Direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. In accordance with ASC Topic 835, Interest (“ASC 835”), homebuilding interest capitalized as a cost of inventories owned is included in costs of sales as related units or lots are sold. To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us. Qualified assets represent projects that are actively under development. Homebuilding cost of sales is recognized at the same time revenue is recognized and is recorded based upon total estimated costs to be allocated to each home within a community. Any changes to the estimated costs are allocated to the remaining undelivered lots and homes within their respective community. The estimation and allocation of these costs require a substantial degree of judgment by management. The estimation process involved in determining relative sales or fair values is inherently uncertain because it involves estimating future sales values of homes before delivery. Additionally, in determining the allocation of costs to a particular land parcel or individual home, we rely on project budgets that are based on a variety of assumptions, including assumptions about construction schedules and future costs to be incurred. It is common that actual results differ from budgeted amounts for various reasons, including construction delays, increases in costs that have not been committed or unforeseen issues encountered during construction that fall outside the scope of existing contracts, or costs that come in less than originally anticipated. While the actual results for a particular construction project are accurately reported over time, a variance between the budget and actual costs could result in the understatement or overstatement of costs and have a related impact on gross margins between reporting periods. To reduce the potential for such variances, we have procedures that have been applied on a consistent basis, including assessing and revising project budgets on a periodic basis, obtaining commitments from subcontractors and vendors for future costs to be incurred and utilizing the most recent information available to estimate costs. If there are indications of impairment, we perform a detailed budget and cash flow review of our real estate assets to determine whether the estimated remaining undiscounted future cash flows of the community are more or less than the asset’s carrying value. If the undiscounted cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the undiscounted cash flows are less than the asset’s carrying value, the asset is deemed impaired and is written down to fair value. These impairment evaluations require us to make estimates and assumptions regarding future conditions, including timing and amounts of development costs and sales prices of real estate assets, to determine if expected future undiscounted cash flows will be sufficient to recover the asset’s carrying value. When estimating undiscounted cash flows of a community, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other communities, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not limited to, land and land development costs, home construction costs, interest costs, indirect construction and overhead costs, and selling and marketing costs; (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property. Many assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing or decreasing monthly sales absorption rates has a direct impact on the estimated per unit sales price of a home, the level of time sensitive costs (such as indirect construction, overhead and carrying costs), and selling and marketing costs (such as model maintenance costs and advertising costs). Depending on the underlying objective of the community, assumptions could have a significant impact on the projected cash flow analysis. For example, if our objective is to preserve operating margins, our cash flow analysis will be different than if the objective is to increase sales. These objectives may vary significantly from community to community and over time. If assets are considered impaired, impairment is determined by the amount the asset’s carrying value exceeds its fair value. Fair value is determined based on estimated future cash flows discounted for inherent risks associated with real estate assets. These discounted cash flows are impacted by expected risk based on estimated land development, construction and delivery timelines; market risk of price erosion; uncertainty of development or construction cost increases; and other risks specific to the asset or market conditions where the asset is located when assessment is made. These factors are specific to each community and may vary among communities. We perform a quarterly review for indicators of impairment. For the year ended December 31, 2017 we had $854,000 of real estate inventory impairment charges. For the years ended December 31, 2016 and 2015 we recorded impairment charges of zero and $1.2 million , respectively.
Revenue Recognition	Revenue Recognition In accordance with ASC Topic 360, Property, Plant, and Equipment , revenues from home sales and other real estate sales are recorded and a profit is recognized when the respective units are delivered. Home sales and other real estate sales are delivered when all conditions of escrow are met, including delivery of the home or other real estate asset, title passage, appropriate consideration is received and collection of associated receivables, if any, is reasonably assured. Sales incentives are a reduction of revenues when the respective unit is delivered. When it is determined that the earnings process is not complete, the sale and/or the related profit are deferred for recognition in future periods using the percentage-of-completion method. The profit we record is based on the calculation of cost of sales, which is dependent on our allocation of costs, as described in more detail above in the section entitled “Real Estate Inventories and Cost of Sales.”
Warranty Reserves	Warranty Reserves In the normal course of business, we incur warranty-related costs associated with homes that have been delivered to homebuyers. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related home sales revenues are recognized while indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. Factors that affect the warranty accruals include the number of homes delivered, historical and anticipated rates of warranty claims and cost per claim. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. In addition, we maintain general liability insurance designed to protect us against a portion of our risk of loss from warranty and 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 certain subcontractors that are added to our general liability insurance policy. Our warranty reserve is based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against 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. We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including, the above-described reserve estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities We have investments in unconsolidated entities over which we have significant influence that we account for using the equity method with taxes provided on undistributed earnings. We record earnings and accrue taxes in the period that the earnings are recorded by our affiliates. Under the equity method, our share of the unconsolidated entities’ earnings or loss is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations. We evaluate our investments in unconsolidated entities for impairment when events and circumstances indicate that the carrying value of the investment has been impaired beyond a temporary period of time.
Variable Interest Entities	Variable Interest Entities The Company accounts for variable interest entities in accordance with ASC Topic 810, Consolidation (“ASC 810”). Under ASC 810, a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group (i) lack the direct or indirect ability to make decisions about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve, or are conducted on behalf of, the equity holder with disproportionately few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE. Under ASC 810, a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as inventories owned, which we would have to write off should we not exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a VIE may have been created. In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.
Stock-Based Compensation	Stock-Based Compensation We account for share-based awards in accordance with ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the financial statements. ASC 718 requires all entities to apply a fair-value-based measurement method in accounting for share-based payment transactions with employees. Share-based awards are expensed on a straight-line basis over the expected vesting period.
Sales and Marketing Expense	Sales and Marketing Expense Sales and marketing costs incurred to sell real estate projects are capitalized if they are reasonably expected to be recovered from the sale of the project or from incidental operations and are incurred for tangible assets that are used directly through the selling period to aid in the sale of the project or services that have been performed to obtain regulatory approval of sales. All other selling expenses and other marketing costs are expensed in the period incurred.
Restructuring Charges	Restructuring Charges Restructuring charges were incurred related to the merger (the “Merger”) with Weyerhaeuser Real Estate Company (“WRECO”), in addition to general cost reduction initiatives. These charges are composed of employee retention and severance-related expenses and lease termination costs. We account for restructuring charges in accordance with ASC Topic 420, Exit or Disposal Cost Obligations or ASC Topic 712 – Compensation – Nonretirement Postemployment Benefits.
Income Taxes	Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”) . Deferred tax assets and liabilities are recorded based on future tax consequences of both temporary differences between the amounts reported for financial reporting purposes and the amounts deductible for income tax purposes, and are measured using enacted tax rates expected to apply in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the changes are enacted. Each quarter we assess our deferred tax assets to determine whether all or any portion of the assets 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. Due to uncertainties inherent in the estimation process, it is possible that actual results may vary from estimates. The enactment of the Tax Cuts and Jobs Act in the fourth quarter of 2017, among other things, reduced the federal corporate tax rate to 21% from 35%, effective January 1, 2018. This resulted in a $22.0 million reduction in our deferred tax asset. The ultimate impact of the Tax Cuts and Jobs Act may be different, possibly materially, due to changes in interpretations and assumptions, and guidance that may be issued and actions we may take in response to the tax law changes. We classify any interest and penalties related to income taxes as part of income tax expense.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets In accordance with ASC Topic 350, Intangibles-Goodwill and Other (“ASC 350”), we evaluate goodwill and indefinite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. We have identified one reporting unit with goodwill, TRI Pointe Homes, and performed our annual goodwill impairment evaluation as of October 1, 2017. For further details on goodwill, see Note 8, Goodwill and Other Intangible Assets. For our TRI Pointe Homes reporting unit, we performed a qualitative assessment to determine whether it is more likely than not that its fair value is less than its carrying amount. Upon completion of the October 2017 annual impairment assessment, we determined that no goodwill impairment was indicated. As of December 31, 2017 , we are not aware of any significant indicators of impairment that exist for our goodwill that would require additional analysis. An impairment of our indefinite-lived intangible asset is based on a comparison of its fair value to book value, without consideration of any recoverability due to the indefinite nature of the asset. As of December 31, 2017 , we believe that our indefinite-lived intangible asset continues to have an indefinite life and that its fair value exceeds its carrying value. For further details on our indefinite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets. In accordance with ASC Topic 360, Property, Plant and Equipment ("ASC 360"), we evaluate finite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. An impairment in the carrying value of our finite-lived intangible asset is recognized whenever anticipated future undiscounted cash flows from the asset become unrecoverable and are estimated to be less than its carrying value. As of December 31, 2017 , we believe that the carrying value of our finite-lived intangible asset is recoverable and that its fair value is greater than its carrying value. For further details on our finite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets. Significant management judgment is required in the forecasts of future operating results that are used in our impairment evaluations. Our estimates are consistent with the plans and estimates that we use to manage our business. It is possible, however, that the plans may change and estimates used may prove to be inaccurate. If our actual results, or the plans and estimates used in future impairment analyses, are lower than the original estimates used to assess the recoverability of these assets, we could incur future impairment charges.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Codified as "ASC 606"). The core principle of ASC 606 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. ASC 606 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. ASC 606 is 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 ASC 606, and we will adopt the new standard under the modified retrospective approach, effective January 1, 2018, by recognizing the net cumulative effect to the opening balance of retained earnings. We have substantially completed our evaluation on the impact that the adoption of ASC 606 will have on our financial statements, and are in process of finalizing the analysis of certain costs, including the impact on income taxes and related accounts, which we do not expect to have a material impact to our consolidated financial statements. Based on our analysis, the adoption of ASC 606 will not have a material impact on the amount or timing of our home sales revenue, but could impact the amount and timing of future land and lot sales. The adoption of ASC 606 will impact the timing of recognition and classification in our consolidated financial statements of certain sales office, model and other marketing related costs that we incur to obtain sales contracts from our customers. For example, we currently capitalize and amortize various sales office, model and other marketing related costs with each home delivered in a community. Under the new guidance, these costs will be expensed when incurred or capitalized to other assets and amortized to selling expense. We are adopting the modified retrospective approach and accordingly, the balance of any remaining unallocated capitalized sales office, model and other marketing related costs required to be expensed under ASC 606 will be recorded to our opening balance of retained earnings in our 2018 consolidated balance sheet. We expect to recognize an immaterial decrease to retained earnings. In addition to the cumulative effect to retained earnings, effective January 1, 2018, the adoption of ASC 606 will result in reclassifications among Consolidated Balance Sheet accounts, notably from real estate inventories to other assets. These reclassifications will not materially change the total amount of net assets existing at December 31, 2017. ASC 606 will result in enhanced disclosure requirements, including changes in contract related assets and liabilities, quantitative and qualitative information about contracts with customers and qualitative information about performance obligations. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, (Codified as “ASC 842”), 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. ASC 842 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 ASC 842 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. On January 1, 2017, we adopted ASU 2016-09. This new guidance requires that we record excess tax benefit and tax deficiencies related to the settlement of employee stock-based compensation to the income tax expense line item on our consolidated statement of operations. We previously recorded the excess tax benefits and tax deficiencies to the additional paid-in capital line item on our consolidated balance sheets. Under the new guidance, the Company elected the option to no longer apply a forfeiture rate to our stock-based compensation expense, and to recognize forfeitures as they occur. The adoption of the aforementioned amendments in ASU 2016-09 were applied using the modified retrospective approach and did not have a material impact on our current or prior year financial statements, with no resulting cumulative-effect adjustment to retained earnings. The new guidance also requires excess tax benefits to be classified as an operating activity in the statement of cash flows rather than as a financing activity. Additionally, ASU 2016-09 requires that the minimum tax withholding paid on behalf of employees for share-based awards be classified as a financing activity in the statement of cash flows. Adoption of ASU 2016-09 did not result in any adjustments to prior period disclosures on the statement of cash flows. 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, however we do not believe the guidance will have a material impact on our financial statements upon adoption. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, (“ASU 2017-04”), Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment , which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 to have a material impact on our financial statements.
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, brand names, 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

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2017
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): 2017 2016 2015 Revenues Maracay Homes $ 296,768 $ 255,253 $ 185,645 Pardee Homes 826,033 730,848 670,063 Quadrant Homes 247,939 213,221 189,401 Trendmaker Homes 253,825 244,001 278,759 TRI Pointe Homes 927,247 723,186 774,005 Winchester Homes 257,089 237,413 302,276 Total homebuilding revenues 2,808,901 2,403,922 2,400,149 Financial services 1,371 1,220 1,010 Total $ 2,810,272 $ 2,405,142 $ 2,401,159 Income before taxes Maracay Homes $ 23,987 $ 17,189 $ 9,849 Pardee Homes 198,738 204,237 183,077 Quadrant Homes 32,671 21,209 10,478 Trendmaker Homes 16,764 15,353 25,004 TRI Pointe Homes 89,811 62,013 104,970 Winchester Homes 15,472 16,147 22,411 Corporate (45,091 ) (39,698 ) (38,589 ) Total homebuilding income before income taxes 332,352 296,450 317,200 Financial services 7,466 5,777 2,060 Total $ 339,818 $ 302,227 $ 319,260 Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands): December 31, 2017 December 31, 2016 Real estate inventories Maracay Homes $ 243,883 $ 228,965 Pardee Homes 1,245,659 1,098,608 Quadrant Homes 257,887 221,386 Trendmaker Homes 204,926 211,035 TRI Pointe Homes 855,727 868,088 Winchester Homes 297,471 282,545 Total $ 3,105,553 $ 2,910,627 Total assets Maracay Homes $ 268,866 $ 255,466 Pardee Homes 1,346,296 1,201,302 Quadrant Homes 312,803 242,208 Trendmaker Homes 224,995 225,025 TRI Pointe Homes 1,062,920 1,052,400 Winchester Homes 313,921 305,379 Corporate 262,740 275,923 Total homebuilding assets 3,792,541 3,557,703 Financial services 12,840 6,937 Total $ 3,805,381 $ 3,564,640

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2017
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): Year Ended December 31, 2017 2016 2015 Numerator: Income available to common stockholders $ 187,191 $ 195,171 $ 205,461 Denominator: Basic weighted-average shares outstanding 154,134,411 160,859,782 161,692,152 Effect of dilutive shares: Stock options and unvested restricted stock units 950,955 521,717 627,606 Diluted weighted-average shares outstanding 155,085,366 161,381,499 162,319,758 Earnings per share Basic $ 1.21 $ 1.21 $ 1.27 Diluted $ 1.21 $ 1.21 $ 1.27 Antidilutive stock options not included in diluted earnings per share 3,288,340 4,551,337 2,622,391

Receivables, net (Tables)

Receivables, net (Tables)	12 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Components of Receivables, Net	Receivables, net consisted of the following (in thousands): December 31, 2017 December 31, 2016 Escrow proceeds and other accounts receivable, net $ 89,783 $ 35,625 Warranty insurance receivable (Note 13) 35,817 46,875 Total receivables $ 125,600 $ 82,500

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Summary of Real Estate Inventories	Real estate inventories consisted of the following (in thousands): December 31, 2017 December 31, 2016 Real estate inventories owned: Homes completed or under construction $ 793,685 $ 659,210 Land under development 1,934,556 1,824,989 Land held for future development 138,651 226,915 Model homes 211,658 155,039 Total real estate inventories owned 3,078,550 2,866,153 Real estate inventories not owned: Land purchase and land option deposits 27,003 26,174 Consolidated inventory held by VIEs — 18,300 Total real estate inventories not owned 27,003 44,474 Total real estate inventories $ 3,105,553 $ 2,910,627
Summary of Interest Incurred, Capitalized and Expensed	Interest incurred, capitalized and expensed were as follows (in thousands): Year Ended December 31, 2017 2016 2015 Interest incurred $ 84,264 $ 68,306 $ 60,964 Interest capitalized (84,264 ) (68,306 ) (60,964 ) Interest expensed $ — $ — $ — Capitalized interest in beginning inventory $ 157,329 $ 140,311 $ 124,461 Interest capitalized as a cost of inventory 84,264 68,306 60,964 Interest previously capitalized as a cost of inventory, included in cost of sales (65,245 ) (51,288 ) (45,114 ) Capitalized interest in ending inventory $ 176,348 $ 157,329 $ 140,311
Schedule of Real Estate Inventory Impairments and Land Option Abandonments	Real estate inventory impairments and land option abandonments consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Real estate inventory impairments $ 854 $ — $ 1,167 Land and lot option abandonments and pre-acquisition costs 1,199 1,470 763 Total $ 2,053 $ 1,470 $ 1,930

Investments in Unconsolidated31

Investments in Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2017
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): December 31, 2017 2016 Limited liability company interests $ 2,687 $ 14,327 General partnership interests 3,183 3,219 Total $ 5,870 $ 17,546
Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments	Assets and liabilities of unconsolidated entities (in thousands): December 31, 2017 2016 Assets Cash $ 11,678 $ 9,796 Receivables 6,564 10,203 Real estate inventories 99,997 97,402 Other assets 936 1,087 Total assets $ 119,175 $ 118,488 Liabilities and equity Accounts payable and other liabilities $ 12,208 $ 12,844 Company’s equity 5,870 17,546 Outside interests' equity 101,097 88,098 Total liabilities and equity $ 119,175 $ 118,488 Results of operations from unconsolidated entities (in thousands): Year Ended December 31, 2017 2016 2015 Net sales $ 24,247 $ 18,725 $ 7,326 Other operating expense (13,904 ) (11,315 ) (6,690 ) Other income (expense) 120 4 (279 ) Net income $ 10,463 $ 7,414 $ 357 Company’s equity in (loss) income of unconsolidated entities $ (5,007 ) $ 4,989 $ 2,691

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2017
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 option agreements (in thousands): December 31, 2017 December 31, 2016 Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Deposits Remaining Purchase Price Consolidated Inventory Held by VIEs Consolidated VIEs $ — $ — $ — $ 400 $ 17,900 $ 18,300 Unconsolidated VIEs 3,418 112,590 N/A 2,375 49,016 N/A Other land option agreements 23,585 269,349 N/A 23,799 246,658 N/A Total $ 27,003 $ 381,939 $ — $ 26,574 $ 313,574 $ 18,300

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Other Intangible Assets	Goodwill and other intangible assets consisted of the following (in thousands): December 31, 2017 December 31, 2016 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 (6,322 ) 21,657 27,979 (5,788 ) 22,191 Total $ 167,283 $ (6,322 ) $ 160,961 $ 167,283 $ (5,788 ) $ 161,495
Schedule of Expected Amortization of Intangible Asset	Expected amortization of our intangible asset related to Maracay Homes for the next five years and thereafter is (in thousands): 2018 $ 534 2019 534 2020 534 2021 534 2022 534 Thereafter 1,687 Total $ 4,357

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): December 31, 2017 December 31, 2016 Prepaid expenses $ 13,040 $ 24,495 Refundable fees and other deposits 16,012 17,731 Development rights, held for future use or sale 2,569 2,569 Deferred loan costs 3,427 2,101 Operating properties and equipment, net 10,528 10,884 Other 2,494 2,812 Total $ 48,070 $ 60,592

Accrued Expenses and Other Li35

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
Schedule Of Accrued Expenses And Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): December 31, 2017 December 31, 2016 Accrued payroll and related costs $ 36,863 $ 33,761 Warranty reserves (Note 13) 69,373 83,135 Estimated cost for completion of real estate inventories 105,864 59,531 Customer deposits 19,568 13,437 Income tax liability to Weyerhaeuser 7,706 8,589 Accrued income taxes payable 30,672 1,200 Liability for uncertain tax positions 1,458 — Accrued interest 11,014 11,570 Accrued insurance expense 1,187 529 Other tax liabilities 33,671 34,961 Other 13,506 17,132 Total $ 330,882 $ 263,845

Senior Notes and Notes Payabl36

Senior Notes and Notes Payable and Other Borrowings (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of Senior Notes	Senior notes consisted of the following (in thousands): December 31, December 31, 4.375% Senior Notes due June 15, 2019 $ 450,000 $ 450,000 4.875% Senior Notes due July 1, 2021 300,000 300,000 5.875% Senior Notes due June 15, 2024 450,000 450,000 5.250% Senior Notes due June 1, 2027 300,000 — Discount and deferred loan costs (28,698 ) (31,693 ) Total $ 1,471,302 $ 1,168,307
Components of Unsecured Revolving Credit Facility	Unsecured Revolving Credit Facility Unsecured revolving credit facility consisted of the following (in thousands): December 31, 2017 December 31, 2016 Unsecured revolving credit facility $ — $ 200,000
Components of Seller Financed Loans	Seller financed loans consisted of the following (in thousands): December 31, 2017 December 31, 2016 Seller financed loans $ — $ 13,726

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2017
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 December 31, 2017 and 2016 , related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands): December 31, 2017 December 31, 2016 Hierarchy Book Value Fair Value Book Value Fair Value Senior Notes (1) Level 2 $ 1,491,229 $ 1,552,335 $ 1,189,180 $ 1,219,125 Unsecured revolving credit facility (2) Level 2 $ — $ — $ 200,000 $ 177,410 Seller financed loans (3) Level 2 $ — $ — $ 13,726 $ 13,189 __________ (1) The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $19.9 million and $20.9 million as of December 31, 2017 and 2016 , respectively. The estimated fair value of our Senior Notes at December 31, 2017 and 2016 is based on quoted market prices. (2) The estimated fair value of the Credit Facility at December 31, 2016 was based on a treasury curve analysis. (3) The estimated fair value of the seller financed loan at December 31, 2016 was 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): Year Ended December 31, 2017 Year Ended December 31, 2016 Impairment Charge Fair Value Net of Impairment Impairment Charge Fair Value Net of Impairment Real estate inventories (1) $ 854 $ 12,950 $ — $ — (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)	12 Months Ended
	Dec. 31, 2017
Commitment And Contingencies [Line Items]
Schedule of Warranty Reserves	Warranty reserves consisted of the following (in thousands): Year Ended December 31, 2017 2016 2015 Warranty reserves, beginning of period $ 83,135 $ 45,948 $ 33,270 Warranty reserves accrued 13,336 12,712 16,557 Adjustments to pre-existing reserves (1) (9,354 ) 36,826 7,451 Warranty expenditures (17,744 ) (12,351 ) (11,330 ) Warranty reserves, end of period $ 69,373 $ 83,135 $ 45,948 __________ (1) Included in this amount for 2016 is approximately $38.0 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2016. Of the $38.0 million adjusted in 2016, approximately $36.5 million related to prior year estimated warranty insurance recoveries.
Office Space Buildings And Equipment
Commitment And Contingencies [Line Items]
Schedule of Future Minimum Lease Payments under Non-Cancellable Operating Lease Agreements	The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancellable lease terms in excess of one year , are as follows (in thousands): 2018 $ 7,006 2019 6,744 2020 6,769 2021 5,544 2022 3,107 Thereafter 3,044 $ 32,214
Ground Leases
Commitment And Contingencies [Line Items]
Schedule of Future Minimum Sublease Income under Non-Cancellable Sublease Agreements	Our lease commitments under this ground lease, which extends through 2071, were (in thousands): 2018 $ 2,239 2019 2,239 2020 2,239 2021 2,239 2022 2,239 Thereafter 72,753 $ 83,948

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2017
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): Year Ended December 31, 2017 2016 2015 Total stock-based compensation $ 15,906 $ 12,612 $ 11,935
Summary of Stock Option Awards	The following table presents a summary of stock option awards for the year ended December 31, 2017 : Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands) Options outstanding at December 31, 2016 2,971,370 $ 13.12 4.4 $ 1,568 Granted — — — Exercised (1,066,298 ) 11.74 Forfeited (750,414 ) 14.09 Options outstanding at December 31, 2017 1,154,658 14.16 4.9 $ 4,350 Options exercisable at December 31, 2017 1,039,819 $ 14.15 4.8 $ 3,933
Summary of Restricted Stock Units	The following table presents a summary of restricted stock units (“RSUs”) for the year ended December 31, 2017 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Share Aggregate Intrinsic Value (in thousands) Nonvested RSUs at December 31, 2016 3,412,719 $ 9.77 $ 39,179 Granted 1,670,936 11.00 Vested (714,612 ) 12.34 Forfeited (61,451 ) 11.66 Nonvested RSUs at December 31, 2017 4,307,592 $ 9.80 $ 77,192

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Provision (Benefit) for Income Tax Attributable to Income (Loss) from Continuing Operations before Income Taxes	The provision for income tax attributable to income before income taxes consisted of (in thousands): Year Ended December 31, 2017 2016 2015 Current: Federal $ 95,814 $ 90,387 $ 91,343 State 8,961 8,744 6,715 Total current taxes 104,775 99,131 98,058 Deferred: Federal 37,151 5,749 8,296 State 10,341 1,214 5,725 Total deferred taxes 47,492 6,963 14,021 Total income tax expense $ 152,267 $ 106,094 $ 112,079
Effective Tax Rate Differs from Federal Statutory Rate	The Company’s provision for income taxes was different from the amount computed by applying the statutory federal income tax rate of 35% to the underlying income before income taxes as a result of the following (in thousands): Year Ended December 31, 2017 2016 2015 Taxes at the U.S. federal statutory rate $ 118,936 $ 105,779 $ 111,846 State income taxes, net of federal tax impact 10,712 9,539 9,627 Domestic production activities deduction (7,108 ) (5,037 ) (5,566 ) Non-deductible transaction costs 541 305 — Change in valuation allowance 3,256 (4,038 ) (1,872 ) Tax Cuts and Jobs Act 21,961 — — Other, net 3,969 (454 ) (1,956 ) Total income tax expense $ 152,267 $ 106,094 $ 112,079 Effective income tax rate 44.8 % 35.1 % 35.1 %
Components of Deferred Income Tax Assets	Deferred taxes consisted of the following at December 31, 2017 and 2016 (in thousands): Year Ended December 31, 2017 2016 Deferred tax assets: Impairment and other valuation reserves $ 40,438 $ 73,890 Incentive compensation 5,851 8,322 Indirect costs capitalized 19,574 25,377 Net operating loss carryforwards (state) 25,172 24,583 State taxes 2,181 2,985 Other costs and expenses 11,354 15,214 Gross deferred tax assets 104,570 150,371 Valuation allowance (3,478 ) (323 ) Deferred tax assets, net of valuation allowance 101,092 150,048 Deferred tax liabilities: Interest capitalized (7,144 ) (814 ) Basis difference in inventory (9,207 ) (14,186 ) Fixed assets (1,710 ) (1,101 ) Intangibles (5,360 ) (8,456 ) Deferred financing costs (898 ) (924 ) Other (360 ) (1,344 ) Deferred tax liabilities (24,679 ) (26,825 ) Net deferred tax assets $ 76,413 $ 123,223
Schedule of Gross Unrecognized Tax Benefits	The following table summarizes the activity related to the Company’s gross unrecognized tax benefits (in thousands): Year Ended December 31, 2017 2016 Balance at beginning of year $ — $ 272 Increase (decrease) related to prior year tax positions 1,521 (272 ) Balance at end of year $ 1,521 $ —

Supplemental Disclosure to Co41

Supplemental Disclosure to Consolidated Statement of Cash Flow (Tables)	12 Months Ended
	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosure to Consolidated Statement of Cash Flows	The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Year Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Cash paid during the period for: Interest, net of amounts capitalized of $77,193, $53,028 and $60,964 $ — $ — $ — Income taxes $ 74,388 $ 117,215 $ 69,917 Supplemental disclosures of noncash activities: Accrued liabilities related to the purchase of operating properties and equipment $ — $ 1,828 $ 3,976 Amortization of senior note discount capitalized to real estate inventory $ 2,048 $ 1,815 $ 1,552 Amortization of deferred loan costs capitalized to real estate inventory $ 5,578 $ 4,642 $ 3,820 Effect of net consolidation and de-consolidation of variable interest entities: (Decrease) increase in consolidated real estate inventory not owned $ (17,485 ) $ (316 ) $ 5,297 Increase in accrued expenses and other liabilities $ — $ — $ 300 Decrease (increase) in noncontrolling interests $ 17,485 $ 316 $ (5,597 )

Supplemental Guarantor Inform42

Supplemental Guarantor Information (Tables)	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet (in thousands): December 31, 2017 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 176,684 $ 106,230 $ — $ 282,914 Receivables 56,021 69,579 — 125,600 Intercompany receivables 794,550 — (794,550 ) — Real estate inventories 855,727 2,249,826 — 3,105,553 Investments in unconsolidated entities — 5,870 — 5,870 Goodwill and other intangible assets, net 156,604 4,357 — 160,961 Investments in subsidiaries 1,448,690 — (1,448,690 ) — Deferred tax assets, net 10,892 65,521 — 76,413 Other assets 3,465 44,605 — 48,070 Total Assets $ 3,502,633 $ 2,545,988 $ (2,243,240 ) $ 3,805,381 Liabilities Accounts payable $ 9,364 $ 63,506 $ — $ 72,870 Intercompany payables — 794,550 (794,550 ) — Accrued expenses and other liabilities 92,245 238,637 — 330,882 Senior notes, net 1,471,302 — — 1,471,302 Total Liabilities 1,572,911 1,096,693 (794,550 ) 1,875,054 Equity Total stockholders’ equity 1,929,722 1,448,690 (1,448,690 ) 1,929,722 Noncontrolling interests — 605 — 605 Total Equity 1,929,722 1,449,295 (1,448,690 ) 1,930,327 Total Liabilities and Equity $ 3,502,633 $ 2,545,988 $ (2,243,240 ) $ 3,805,381 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Balance Sheet (in thousands): December 31, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Assets Cash and cash equivalents $ 141,568 $ 67,089 $ — $ 208,657 Receivables 26,692 55,808 — 82,500 Intercompany receivables 775,321 — (775,321 ) — Real estate inventories 868,088 2,042,539 — 2,910,627 Investments in unconsolidated entities — 17,546 — 17,546 Goodwill and other intangible assets, net 156,604 4,891 — 161,495 Investments in subsidiaries 1,285,295 — (1,285,295 ) — Deferred tax assets, net 15,644 107,579 — 123,223 Other assets 11,401 49,191 — 60,592 Total Assets $ 3,280,613 $ 2,344,643 $ (2,060,616 ) $ 3,564,640 Liabilities Accounts payable $ 20,637 $ 49,615 $ — $ 70,252 Intercompany payables — 775,321 (775,321 ) — Accrued expenses and other liabilities 48,496 215,349 — 263,845 Unsecured revolving credit facility 200,000 — — 200,000 Seller financed loans 13,726 — — 13,726 Senior notes, net 1,168,307 — — 1,168,307 Total Liabilities 1,451,166 1,040,285 (775,321 ) 1,716,130 Equity Total stockholders’ equity 1,829,447 1,285,295 (1,285,295 ) 1,829,447 Noncontrolling interests — 19,063 — 19,063 Total Equity 1,829,447 1,304,358 (1,285,295 ) 1,848,510 Total Liabilities and Equity $ 3,280,613 $ 2,344,643 $ (2,060,616 ) $ 3,564,640 __________ (1) References to “Issuer” in Note 18, 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
Condensed Consolidating Statement of Operations	Condensed Consolidating Statement of Operations (in thousands): Year Ended December 31, 2017 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 927,247 $ 1,805,052 $ — $ 2,732,299 Land and lot sales revenue — 74,269 — 74,269 Other operations revenue — 2,333 — 2,333 Total revenues 927,247 1,881,654 — 2,808,901 Cost of home sales 780,732 1,392,519 — 2,173,251 Cost of land and lot sales — 14,888 — 14,888 Other operations expense — 2,298 — 2,298 Sales and marketing 34,286 102,780 — 137,066 General and administrative 67,006 70,758 — 137,764 Homebuilding income from operations 45,223 298,411 — 343,634 Equity in loss of unconsolidated entities — (11,433 ) — (11,433 ) Other income, net 38 113 — 151 Homebuilding income before taxes 45,261 287,091 — 332,352 Financial Services: Revenues — 1,371 — 1,371 Expenses — 331 — 331 Equity in income of unconsolidated entities — 6,426 — 6,426 Financial services income before taxes — 7,466 — 7,466 Income before taxes 45,261 294,557 — 339,818 Provision for income taxes (22,501 ) (129,766 ) — (152,267 ) Equity of net income (loss) of subsidiaries 164,431 — (164,431 ) — Net income (loss) 187,191 164,791 (164,431 ) 187,551 Net income attributable to noncontrolling interests — (360 ) — (360 ) Net income (loss) available to common stockholders $ 187,191 $ 164,431 $ (164,431 ) $ 187,191 _________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Operations (in thousands): Year Ended December 31, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 723,186 $ 1,606,150 $ — $ 2,329,336 Land and lot sales revenue — 72,272 — 72,272 Other operations revenue — 2,314 — 2,314 Total revenues 723,186 1,680,736 — 2,403,922 Cost of home sales 607,316 1,229,011 — 1,836,327 Cost of land and lot sales — 17,367 — 17,367 Other operations expense — 2,247 — 2,247 Sales and marketing 29,092 98,811 — 127,903 General and administrative 59,327 64,792 — 124,119 Homebuilding income from operations 27,451 268,508 — 295,959 Equity in income of unconsolidated entities — 179 — 179 Other income, net 149 163 — 312 Homebuilding income before taxes 27,600 268,850 — 296,450 Financial Services: Revenues — 1,220 — 1,220 Expenses — 253 — 253 Equity in income of unconsolidated entities — 4,810 — 4,810 Financial services income before taxes — 5,777 — 5,777 Income before taxes 27,600 274,627 — 302,227 Provision for income taxes (11,322 ) (94,772 ) — (106,094 ) Equity of net income (loss) of subsidiaries 178,893 — (178,893 ) — Net income (loss) 195,171 179,855 (178,893 ) 196,133 Net income attributable to noncontrolling interests — (962 ) — (962 ) Net income (loss) available to common stockholders $ 195,171 $ 178,893 $ (178,893 ) $ 195,171 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Operations (in thousands): Year Ended December 31, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Homebuilding: Home sales revenue $ 774,005 $ 1,517,259 $ — $ 2,291,264 Land and lot sales revenue — 101,284 — 101,284 Other operations revenue — 7,601 — 7,601 Total revenues 774,005 1,626,144 — 2,400,149 Cost of home sales 624,791 1,183,985 — 1,808,776 Cost of land and lot sales — 35,089 — 35,089 Other operations expense — 4,360 — 4,360 Sales and marketing 26,792 89,425 — 116,217 General and administrative 55,442 65,383 — 120,825 Homebuilding income from operations 66,980 247,902 — 314,882 Equity in income of unconsolidated entities — 1,460 — 1,460 Other (loss) income, net (127 ) 985 — 858 Homebuilding income before taxes 66,853 250,347 — 317,200 Financial Services: Revenues — 1,010 — 1,010 Expenses — 181 — 181 Equity in income of unconsolidated entities — 1,231 — 1,231 Financial services income before taxes — 2,060 — 2,060 Income before taxes 66,853 252,407 — 319,260 Provision for income taxes (20,001 ) (92,078 ) — (112,079 ) Equity of net income (loss) of subsidiaries 158,609 — (158,609 ) — Net income (loss) 205,461 160,329 (158,609 ) 207,181 Net income attributable to noncontrolling interests — (1,720 ) — (1,720 ) Net income (loss) available to common stockholders $ 205,461 $ 158,609 $ (158,609 ) $ 205,461 __________ (1) References to “Issuer” in Note 18, 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
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows (in thousands): Year Ended December 31, 2017 Issuer (1) Guarantor Consolidating Consolidated Cash flows from operating activities: Net cash provided by operating activities $ 73,208 $ 28,466 $ — $ 101,674 Cash flows from investing activities: Purchases of property and equipment (1,424 ) (1,181 ) — (2,605 ) Proceeds from sale of property and equipment — 6 — 6 Investments in unconsolidated entities — (980 ) — (980 ) Intercompany (14,163 ) — 14,163 — Net cash (used in) provided by investing activities (15,587 ) (2,155 ) 14,163 (3,579 ) Cash flows from financing activities: Borrowings from debt 500,000 — — 500,000 Repayment of debt (413,726 ) — — (413,726 ) Debt issuance costs (5,957 ) — — (5,957 ) Distributions to noncontrolling interests — (1,333 ) — (1,333 ) Proceeds from issuance of common stock under share-based 12,291 — — 12,291 Minimum tax withholding paid on behalf of employees for (2,896 ) — — (2,896 ) Share repurchases (112,217 ) — — (112,217 ) Intercompany — 14,163 (14,163 ) — Net cash (used in) provided by financing activities (22,505 ) 12,830 (14,163 ) (23,838 ) Net increase in cash and cash equivalents 35,116 39,141 — 74,257 Cash and cash equivalents - beginning of year 141,568 67,089 — 208,657 Cash and cash equivalents - end of year $ 176,684 $ 106,230 $ — $ 282,914 __________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Cash Flows (in thousands): Year Ended December 31, 2016 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities: Net cash (used in) provided by operating activities $ (179,397 ) $ 21,087 $ — $ (158,310 ) Cash flows from investing activities: Purchases of property and equipment (1,603 ) (2,382 ) — (3,985 ) Proceeds from sale of property and equipment — 9 — 9 Investments in unconsolidated entities — (32 ) — (32 ) Intercompany 12,102 — (12,102 ) — Net cash provided by (used in) investing activities 10,499 (2,405 ) (12,102 ) (4,008 ) Cash flows from financing activities: Borrowings from debt 541,069 — — 541,069 Repayment of debt (330,458 ) (400 ) — (330,858 ) Debt issuance costs (5,062 ) — — (5,062 ) Repayment of debt payable to Weyerhaeuser — (2,442 ) — (2,442 ) Decrease in book overdrafts — 1,955 — 1,955 Distributions to Weyerhaeuser — (5,318 ) — (5,318 ) Proceeds from issuance of common stock under share-based awards 587 — — 587 Minimum tax withholding paid on behalf of employees for share-based awards (1,359 ) — — (1,359 ) Share repurchases (42,082 ) — — (42,082 ) Intercompany — (12,102 ) 12,102 — Net cash provided by (used in) financing activities 162,695 (18,307 ) 12,102 156,490 Net (decrease) increase in cash and cash equivalents (6,203 ) 375 — (5,828 ) Cash and cash equivalents - beginning of year 147,771 66,714 — 214,485 Cash and cash equivalents - end of year $ 141,568 $ 67,089 $ — $ 208,657 _________ (1) References to “Issuer” in Note 18, 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 Condensed Consolidating Statement of Cash Flows (in thousands): Year Ended December 31, 2015 Issuer (1) Guarantor Subsidiaries Consolidating Adjustments Consolidated TRI Pointe Group, Inc. Cash flows from operating activities Net cash provided by operating activities $ 1,714 $ 29,291 $ — $ 31,005 Cash flows from investing activities: Purchases of property and equipment (1,063 ) 254 — (809 ) Investments in unconsolidated entities — (1,468 ) — (1,468 ) Distributions from unconsolidated entities — 1,415 — 1,415 Intercompany 16,717 — (16,717 ) — Net cash provided by (used in) investing activities 15,654 201 (16,717 ) (862 ) Cash flows from financing activities: Borrowings from debt 140,000 — — 140,000 Repayment of debt (112,651 ) (200 ) — (112,851 ) Debt issuance costs (2,688 ) — — (2,688 ) Net repayments of debt held by variable interest entities — (6,769 ) — (6,769 ) Contributions from noncontrolling interests — 5,990 — 5,990 Distributions to noncontrolling interests — (9,823 ) — (9,823 ) Proceeds from issuance of common stock under 1,616 — — 1,616 Excess tax benefits of share-based awards 428 — — 428 Minimum tax withholding paid on behalf of employees for restricted stock units (2,190 ) — — (2,190 ) Intercompany — (16,717 ) 16,717 — Net cash provided by (used in) financing activities 24,515 (27,519 ) 16,717 13,713 Net increase in cash and cash equivalents 41,883 1,973 — 43,856 Cash and cash equivalents - beginning of period 105,888 64,741 — 170,629 Cash and cash equivalents - end of period $ 147,771 $ 66,714 $ — $ 214,485 __________ (1) References to “Issuer” in Note 18, 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

Results of Quarterly Operatio43

Results of Quarterly Operations (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Results of Operations	The following table presents our unaudited quarterly financial data (in thousands, except per share amounts). First Second Third Fourth 2017 Quarter Quarter Quarter Quarter Total revenues (1) $ 393,391 $ 570,626 $ 717,735 $ 1,128,520 Cost of homes sales and other (2) 319,618 455,476 534,494 880,849 Gross margin $ 73,773 $ 115,150 $ 183,241 $ 247,671 Net income $ 8,217 $ 32,803 $ 72,289 $ 74,242 Net income attributable to noncontrolling interests (24 ) (89 ) $ (25 ) (222 ) Net income available to common stockholders $ 8,193 $ 32,714 $ 72,264 $ 74,020 Earnings per share Basic $ 0.05 $ 0.21 $ 0.48 $ 0.49 Diluted $ 0.05 $ 0.21 $ 0.48 $ 0.49 __________ (1) Total revenues includes total homebuilding revenues and financial services revenue. (2) Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense. First Second Third Fourth 2016 Quarter Quarter Quarter Quarter Total revenues (1) $ 424,138 $ 625,222 $ 582,029 $ 773,753 Cost of homes sales and other (2) 325,844 447,781 464,632 617,684 Gross margin $ 98,294 $ 177,441 $ 117,397 $ 156,069 Net income $ 28,710 $ 74,193 $ 35,145 $ 58,085 Net income attributable to noncontrolling interests (160 ) (267 ) (311 ) (224 ) Net income available to common stockholders $ 28,550 $ 73,926 $ 34,834 $ 57,861 Earnings per share Basic $ 0.18 $ 0.46 $ 0.22 $ 0.36 Diluted $ 0.18 $ 0.46 $ 0.22 $ 0.36 __________ (1) Total revenues includes total homebuilding revenues and financial services revenue. (2) Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.

Organization and Summary of S44

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Jul. 07, 2015	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01	$ 0.01
Common stock issued and outstanding - historical (shares)		151,162,999	151,162,999	158,626,229
Common stock outstanding (shares)		151,162,999	151,162,999	158,626,229
Impairment charges			$ 854,000	$ 0	$ 1,167,000
Impairment of investments in unconsolidated entities			13,200,000	0	0
Restructuring charges			588,000	649,000	3,300,000
Gross unrecognized tax benefits		$ 1,521,000	$ 1,521,000	$ 0	$ 272,000
Reduction in deferred tax asset		$ 22,000,000
Common Stock [Member]
Debt Instrument [Line Items]
Common stock outstanding (shares)		151,162,999	151,162,999	158,626,229	161,813,750	161,355,490
4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)	4.375%
Debt instrument, maturity year	2,019
5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)	5.875%
Debt instrument, maturity year	2,024
Tri Pointe Homes Inc [Member]
Debt Instrument [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Tri Pointe Group Inc [Member]
Debt Instrument [Line Items]
Common stock, par value (in dollars per share)	$ 0.01

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017companybusinesssegment
Segment Reporting Information [Line Items]
Number of principal businesses | business	2
All HomeBuilding Segments [Member]
Segment Reporting Information [Line Items]
Number of operating divisions | company	6
Number of reportable segments	6
Financial Services Segment [Member]
Segment Reporting Information [Line Items]
Number of reportable segments	1

Segment Information - Summary o

Segment Information - Summary of Financial Information Relating to Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total homebuilding revenues	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 773,753	$ 582,029	$ 625,222	$ 424,138	$ 2,808,901	$ 2,403,922	$ 2,400,149
Financial services revenues									1,371	1,220	1,010
Total revenues									2,810,272	2,405,142	2,401,159
Income before income taxes									339,818	302,227	319,260
Financial Services Income Loss From Continuing Operations Before Taxes									7,466	5,777	2,060
Real estate inventories	3,105,553				2,910,627				3,105,553	2,910,627
Total assets	3,805,381				3,564,640				3,805,381	3,564,640
All HomeBuilding Segments [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									2,808,901	2,403,922	2,400,149
Income before income taxes									332,352	296,450	317,200
Real estate inventories	3,105,553				2,910,627				3,105,553	2,910,627
Total assets	3,792,541				3,557,703				3,792,541	3,557,703
Operating segments [Member] | Maracay Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									296,768	255,253	185,645
Income before income taxes									23,987	17,189	9,849
Real estate inventories	243,883				228,965				243,883	228,965
Total assets	268,866				255,466				268,866	255,466
Operating segments [Member] | Pardee Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									826,033	730,848	670,063
Income before income taxes									198,738	204,237	183,077
Real estate inventories	1,245,659				1,098,608				1,245,659	1,098,608
Total assets	1,346,296				1,201,302				1,346,296	1,201,302
Operating segments [Member] | Quadrant Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									247,939	213,221	189,401
Income before income taxes									32,671	21,209	10,478
Real estate inventories	257,887				221,386				257,887	221,386
Total assets	312,803				242,208				312,803	242,208
Operating segments [Member] | Trendmaker Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									253,825	244,001	278,759
Income before income taxes									16,764	15,353	25,004
Real estate inventories	204,926				211,035				204,926	211,035
Total assets	224,995				225,025				224,995	225,025
Operating segments [Member] | Tri Pointe [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									927,247	723,186	774,005
Income before income taxes									89,811	62,013	104,970
Real estate inventories	855,727				868,088				855,727	868,088
Total assets	1,062,920				1,052,400				1,062,920	1,052,400
Operating segments [Member] | Winchester Homes [Member]
Segment Reporting Information [Line Items]
Total homebuilding revenues									257,089	237,413	302,276
Income before income taxes									15,472	16,147	22,411
Real estate inventories	297,471				282,545				297,471	282,545
Total assets	313,921				305,379				313,921	305,379
Operating segments [Member] | Financial Services Segment [Member]
Segment Reporting Information [Line Items]
Financial services revenues									1,371	1,220	1,010
Financial Services Income Loss From Continuing Operations Before Taxes									7,466	5,777	2,060
Total assets	12,840				6,937				12,840	6,937
Corporate [Member]
Segment Reporting Information [Line Items]
Income before income taxes									(45,091)	(39,698)	$ (38,589)
Total assets	$ 262,740				$ 275,923				$ 262,740	$ 275,923

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								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator:
Income available to common stockholders									$ 187,191	$ 195,171	$ 205,461
Denominator:
Basic weighted-average shares outstanding (shares)									154,134,411	160,859,782	161,692,152
Effect of dilutive shares:
Stock options and unvested restricted stock units (shares)									950,955	521,717	627,606
Diluted weighted-average shares outstanding (shares)									155,085,366	161,381,499	162,319,758
Basic
Basic (in dollars per share)	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 0.36	$ 0.22	$ 0.46	$ 0.18	$ 1.21	$ 1.21	$ 1.27
Diluted
Diluted (in dollars per share)	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 0.36	$ 0.22	$ 0.46	$ 0.18	$ 1.21	$ 1.21	$ 1.27
Antidilutive stock options not included in diluted earnings per share (in shares)									3,288,340	4,551,337	2,622,391

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Common stock issued and outstanding - historical (shares)	151,162,999	158,626,229
TRI Pointe shares outstanding - recast (shares)	151,162,999	158,626,229
Common Stock [Member]
Business Acquisition [Line Items]
TRI Pointe shares outstanding - recast (shares)	151,162,999	158,626,229	161,813,750	161,355,490

Receivables, Net - Components o

Receivables, Net - Components of Receivables, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Escrow proceeds and other accounts receivable, net	$ 89,783	$ 35,625
Warranty insurance receivable	35,817	46,875
Total receivables	$ 125,600	$ 82,500

Receivables, Net - Additional I

Receivables, Net - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Allowances for doubtful accounts	$ 330	$ 286

Real Estate Inventories - Summa

Real Estate Inventories - Summary of Real Estate Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real estate inventories owned:
Homes completed or under construction	$ 793,685	$ 659,210
Land under development	1,934,556	1,824,989
Land held for future development	138,651	226,915
Model homes	211,658	155,039
Total real estate inventories owned	3,078,550	2,866,153
Real estate inventories not owned:
Land purchase and land option deposits	27,003	26,174
Consolidated inventory held by VIEs	0	18,300
Total real estate inventories not owned	27,003	44,474
Total real estate inventories	$ 3,105,553	$ 2,910,627

Real Estate Inventories - Sum52

Real Estate Inventories - Summary of Interest Incurred, Capitalized and Expensed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real Estate [Abstract]
Interest incurred	$ 84,264	$ 68,306	$ 60,964
Interest capitalized	(84,264)	(68,306)	(60,964)
Interest expensed		0	0
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in beginning inventory	157,329	140,311	124,461
Interest capitalized as a cost of inventory	84,264	68,306	60,964
Interest previously capitalized as a cost of inventory, included in cost of sales	(65,245)	(51,288)	(45,114)
Capitalized interest in ending inventory	$ 176,348	$ 157,329	$ 140,311

Real Estate Inventories - Sched

Real Estate Inventories - Schedule of Real Estate Inventory Impairments and Land Option Abandonments (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real Estate [Abstract]
Real estate inventory impairments	$ 854,000	$ 0	$ 1,167,000
Land and lot option abandonments and pre-acquisition costs	1,199,000	1,470,000	763,000
Real estate inventory impairments and land option abandonments, Total	$ 2,053,000	$ 1,470,000	$ 1,930,000

Investments in Unconsolidated54

Investments in Unconsolidated Entities - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017USD ($)investment	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2017USD ($)
Investment Holdings [Line Items]
Impairment of joint venture		$ 13,200,000	$ 0	$ 0
Minimum [Member]
Investment Holdings [Line Items]
Ownership interest (percent)	5.00%	5.00%
Maximum [Member]
Investment Holdings [Line Items]
Ownership interest (percent)	65.00%	65.00%
Homebuilding Partnerships or Limited Liability Companies [Member]
Investment Holdings [Line Items]
Number of equity investments | investment		5
Financial Services Limited Liability Company [Member]
Investment Holdings [Line Items]
Number of equity investments | investment		1
Investment Joint Venture [Member]
Investment Holdings [Line Items]
Impaired joint venture					$ 13,200,000
Impairment of joint venture	$ 13,200,000
Equity stake in joint venture (percent)	5.00%	5.00%

Investments in Unconsolidated55

Investments in Unconsolidated Entities - Schedule of Cumulative Investment in Entities on Equity Method, Including Share of Earnings and Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of Investments [Line Items]
Investments in unconsolidated entities	$ 5,870	$ 17,546
Limited Liability Company Interests [Member]
Schedule of Investments [Line Items]
Investments in unconsolidated entities	2,687	14,327
General Partnership Interests [Member]
Schedule of Investments [Line Items]
Investments in unconsolidated entities	$ 3,183	$ 3,219

Investments in Unconsolidated56

Investments in Unconsolidated Entities - Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Total assets	$ 119,175	$ 118,488
Liabilities and equity
Accounts payable and other liabilities	12,208	12,844
Company’s equity	5,870	17,546
Outside interests' equity	101,097	88,098
Total liabilities and equity	119,175	118,488
Net sales	24,247	18,725	$ 7,326
Other operating expense	(13,904)	(11,315)	(6,690)
Other income (expense)	120	4	(279)
Net income	10,463	7,414	357
Company’s equity in (loss) income of unconsolidated entities	(5,007)	4,989	$ 2,691
Cash [Member]
Assets
Total assets	11,678	9,796
Receivables [Member]
Assets
Total assets	6,564	10,203
Real Estate Inventories [Member]
Assets
Total assets	99,997	97,402
Other Assets [Member]
Assets
Total assets	$ 936	$ 1,087

Variable Interest Entities - Su

Variable Interest Entities - Summary of Interests in Land Option Agreements (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Deposits	$ 27,003	$ 26,574
Remaining Purchase Price	381,939	313,574
Consolidated inventory held by VIEs	0	18,300
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Deposits	0	400
Remaining Purchase Price	0	17,900
Consolidated inventory held by VIEs	0	18,300
Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Deposits	3,418	2,375
Remaining Purchase Price	112,590	49,016
Other land option agreements [Member]
Variable Interest Entity [Line Items]
Deposits	23,585	23,799
Remaining Purchase Price	$ 269,349	$ 246,658

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other land option agreements [Member]
Variable Interest Entity [Line Items]
Capitalized pre-acquisition costs	$ 4.5	$ 3.6

Goodwill and Other Intangible59

Goodwill and Other Intangible Assets - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)asset	Dec. 31, 2016USD ($)	Jul. 07, 2014USD ($)
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill	$ 139,304	$ 139,304
Number of intangible assets | asset	2
Indefinite-Lived Trade Names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Indefinite life intangible asset	$ 17,300
Finite-Lived Trade Names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Remaining useful life of amortizing asset	8 years 2 months 12 days	9 years 2 months 12 days
Amortization expense	$ 534	$ 534
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

Goodwill and Other Intangible60

Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 139,304	$ 139,304
Trade names, Gross Carrying Amount	27,979	27,979
Goodwill and Trade name, Gross Carrying Amount	167,283	167,283
Accumulated Amortization	(6,322)	(5,788)
Trade names, Net Carrying Amount	21,657	22,191
Goodwill and Trade name, Net Carrying Amount	$ 160,961	$ 161,495

Goodwill and Other Intangible61

Goodwill and Other Intangible Assets - Schedule of Expected Amortization of Intangible Asset (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,018	$ 534
2,019	534
2,020	534
2,021	534
2,022	534
Thereafter	1,687
Total	$ 4,357

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 13,040	$ 24,495
Refundable fees and other deposits	16,012	17,731
Development rights, held for future use or sale	2,569	2,569
Deferred loan costs	3,427	2,101
Operating properties and equipment, net	10,528	10,884
Other	2,494	2,812
Other assets, total	$ 48,070	$ 60,592

Accrued Expenses and Other Li63

Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued payroll and related costs	$ 36,863	$ 33,761
Warranty reserves	69,373	83,135	$ 45,948	$ 33,270
Estimated cost for completion of real estate inventories	105,864	59,531
Customer deposits	19,568	13,437
Income tax liability to Weyerhaeuser	7,706	8,589
Accrued income taxes payable	30,672	1,200
Liability for uncertain tax positions	1,458	0
Accrued interest	11,014	11,570
Accrued insurance expense	1,187	529
Other tax liabilities	33,671	34,961
Other	13,506	17,132
Total	$ 330,882	$ 263,845

Senior Notes and Notes Payabl64

Senior Notes and Notes Payable and Other Borrowings - Schedule of Senior Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Discount and deferred loan costs	$ (28,698)	$ (31,693)
Long-term Debt	1,471,302	1,168,307
Senior Notes [Member] | 4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	450,000	450,000
Senior Notes [Member] | 4.875% Senior Notes due July 1, 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	300,000	300,000
Senior Notes [Member] | 5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	450,000	450,000
Senior Notes [Member] | 5.250% Senior Notes due June 1, 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 0

Senior Notes and Notes Payabl65

Senior Notes and Notes Payable and Other Borrowings - Schedule of Senior Notes (Phantoms) (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	May 31, 2016	Jul. 07, 2015
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
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 [Member] | 4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)		4.375%	4.375%
Maturity date of senior note		Jun. 15, 2019	Jun. 15, 2019
Senior Notes [Member] | 4.875% Senior Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)		4.875%	4.875%	4.875%
Maturity date of senior note		Jul. 1, 2021	Jul. 1, 2021
Senior Notes [Member] | 5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)		5.875%	5.875%
Maturity date of senior note		Jun. 15, 2024	Jun. 15, 2024

Senior Notes and Notes Payabl66

Senior Notes and Notes Payable and Other Borrowings - Additional Information (Detail) - USD ($)	Jun. 13, 2014	Jun. 30, 2017	May 31, 2016	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jun. 20, 2017	Jun. 19, 2017	Jul. 07, 2015
Debt Instrument [Line Items]
Proceeds from issuance of senior notes	$ 861,300,000
Capitalization of deferred finance costs					$ 3,427,000	$ 2,101,000
Accrued interest					11,014,000	11,570,000
Notes payable and other borrowings					0	200,000,000
Outstanding letters of credit					7,700,000	4,300,000
Interest incurred					84,264,000	68,306,000	$ 60,964,000
Interest capitalized					84,264,000	68,306,000	$ 60,964,000
Notes payable [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs					7,600,000	6,500,000
Senior Notes [Member]
Debt Instrument [Line Items]
Principal payment on Senior Notes					0
Capitalization of deferred finance costs					19,900,000	20,900,000
Accrued interest					$ 10,600,000	10,700,000
Seller financed loan [Member]
Debt Instrument [Line Items]
Accrued interest						$ 519,000
5.250% Senior Notes due June 1, 2027 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount		$ 300,000,000
Interest rate on debt (percent)		5.25%
Percentage of aggregate principal amount (percent)		100.00%
Proceeds from issuance of debt note, net		$ 296,300,000
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 (percent)			4.875%		4.875%	4.875%
Percentage of aggregate principal amount (percent)			99.44%
Proceeds from issuance of debt note, net			$ 293,900,000
Maturity date of senior note					Jul. 1, 2021	Jul. 1, 2021
4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Interest rate on debt (percent)										4.375%
Notes issue price as a percentage of principal amount					98.89%
Maturity date of senior note				Jun. 15, 2019
4.375% Senior notes due 2019 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt (percent)					4.375%	4.375%
Maturity date of senior note					Jun. 15, 2019	Jun. 15, 2019
5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate on debt (percent)										5.875%
Notes issue price as a percentage of principal amount					98.15%
Maturity date of senior note				Jun. 15, 2024
5.875% Senior notes due 2024 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt (percent)					5.875%	5.875%
Maturity date of senior note					Jun. 15, 2024	Jun. 15, 2024
Unsecured revolving credit facility [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility								$ 600,000,000	$ 625,000,000
Unsecured revolving credit facility [Member] | Six Hundred And Twenty Five Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Accrued interest					$ 426,000
Notes payable and other borrowings					0	$ 200,000,000
Available secured revolving credit facility					$ 592,300,000
Unsecured revolving credit facility [Member] | Six Hundred And Twenty Five Million Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate					1.25%
Unsecured revolving credit facility [Member] | Six Hundred And Twenty Five Million Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate					2.00%
Letters of credit [Member] | Six Hundred And Twenty Five Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility					$ 75,000,000

Senior Notes and Notes Payabl67

Senior Notes and Notes Payable and Other Borrowings - Components of Unsecured Revolving Credit Facility (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Notes payable and other borrowings	$ 0	$ 200,000
Unsecured revolving credit facility [Member] | Six Hundred And Twenty Five Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Notes payable and other borrowings	$ 0	$ 200,000

Senior Notes and Notes Payabl68

Senior Notes and Notes Payable and Other Borrowings - Components of Seller Financed Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Seller financed loans	$ 0	$ 13,726

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	Dec. 31, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes, net	$ 1,471,302	$ 1,168,307
Unsecured revolving credit facility	0	200,000
Seller financed loans	0	13,726
Level 2 [Member] | Recurring [Member] | Book Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes, net	1,491,229	1,189,180
Level 2 [Member] | Recurring [Member] | Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes, net	1,552,335	1,219,125
Level 2 [Member] | Recurring [Member] | Seller financed loan [Member] | Book Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Seller financed loans	0	13,726
Level 2 [Member] | Recurring [Member] | Seller financed loan [Member] | Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Seller financed loans	0	13,189
Level 2 [Member] | Recurring [Member] | Unsecured revolving credit facility [Member] | Book Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unsecured revolving credit facility	0	200,000
Level 2 [Member] | Recurring [Member] | Unsecured revolving credit facility [Member] | Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unsecured revolving credit facility	$ 0	$ 177,410

Fair Value Disclosures - Summ70

Fair Value Disclosures - Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis (Phantoms) (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deferred loan cost	$ 3,427	$ 2,101
Senior Notes [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deferred loan cost	$ 19,900	$ 20,900

Fair Value Disclosures - Summ71

Fair Value Disclosures - Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate inventory impairments	$ 854,000	$ 0	$ 1,167,000
Real estate inventories	3,105,553,000	2,910,627,000
Fair Value Measurements Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate inventory impairments	854,000	0
Real estate inventories	$ 12,950,000	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017USD ($)lease_renewallease	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Commitment And Contingencies [Line Items]
Legal reserve	$ 0	$ 225,000
Increase in warrant liability	(9,354,000)	36,826,000	$ 7,451,000
Outstanding warranty insurance receivables	35,817,000	46,875,000
Estimated probable recoveries	38,000,000	36,500,000
Rental expense	6,900,000	6,400,000	$ 6,200,000
Operating leases future commitments	53,700,000
Operating leases guaranteed future payments	12,500,000
Deposits	27,003,000	26,574,000
Land purchase and land option deposits	27,003,000	26,174,000
Aggregate remaining purchase price	$ 381,900,000
55 year ground lease [Member]
Commitment And Contingencies [Line Items]
Operating leases, renewal term	10 years
Number of properties obtained subject to ground leases | lease	2
Number of lease renewal options | lease_renewal	3
45 year ground lease [Member]
Commitment And Contingencies [Line Items]
Number of properties obtained subject to ground leases | lease	1
Surety bonds [Member]
Commitment And Contingencies [Line Items]
Outstanding surety bonds	$ 537,400,000	$ 449,600,000
Property Subject to Operating Lease [Member] | Office Leases [Member]
Commitment And Contingencies [Line Items]
Lease term	9 years
Operating leases, renewal term	5 years
Property Subject to Operating Lease [Member] | Minimum [Member] | Equipment Leases [Member]
Commitment And Contingencies [Line Items]
Lease term	3 years
Property Subject to Operating Lease [Member] | Maximum [Member] | Equipment Leases [Member]
Commitment And Contingencies [Line Items]
Lease term	4 years

Commitments and Contingencies73

Commitments and Contingencies - Schedule of Warranty Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserves, beginning of period	$ 83,135	$ 45,948	$ 33,270
Warranty reserves accrued	13,336	12,712	16,557
Adjustments to pre-existing reserves(1)	(9,354)	36,826	7,451
Warranty expenditures	(17,744)	(12,351)	(11,330)
Warranty reserves, end of period	$ 69,373	$ 83,135	$ 45,948

Commitments and Contingencies74

Commitments and Contingencies - Schedule of Future Minimum Lease Payments under Non-Cancellable Operating Lease Agreements (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Office Space Buildings And Equipment
Other Commitments [Line Items]
2,018	$ 7,006
2,019	6,744
2,020	6,769
2,021	5,544
2,022	3,107
Thereafter	3,044
Future minimum lease payments under non-cancellable operating lease agreements	32,214
Ground Leases
Other Commitments [Line Items]
2,018	2,239
2,019	2,239
2,020	2,239
2,021	2,239
2,022	2,239
Thereafter	72,753
Future minimum lease payments under non-cancellable operating lease agreements	$ 83,948

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Thousands	May 30, 2017$ / sharesshares	May 25, 2017shares	Mar. 27, 2017shares	Feb. 27, 2017$ / sharesshares	Jun. 06, 2016$ / sharesshares	Mar. 01, 2016$ / sharesshares	Mar. 09, 2015	Jul. 16, 2014shares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / shares	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation related to all stock-based awards | $									$ 17,300
Weighted average period, expense to recognize									1 year 6 months 25 days
Intrinsic value of stock option awards exercised | $									$ 4,500	$ 324	$ 642
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of restricted stock units vested | $									8,800	4,600	6,800
Grant date fair value of restricted stock awards granted or assumed | $									$ 18,400	$ 21,800	$ 18,300
Restricted stock units, granted (shares)									1,670,936
Restricted stock units, vested (shares)									714,612
Fair value of awards (in usd per share) | $ / shares									$ 9.80	$ 9.77
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
Closing stock price on date of grant (in usd per share) | $ / shares						$ 10.49
Restricted Stock Units (RSUs) [Member] | Employees and Officers [Member] | Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				990,279
Restricted stock units, vesting period				3 years		3 years
Closing stock price on date of grant (in usd per share) | $ / shares				$ 12.10
Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				257,851
Restricted Stock Units (RSUs) [Member] | President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				247,933
Restricted Stock Units (RSUs) [Member] | Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				119,008
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)	55,865				74,466
Restricted stock units, vested (shares)		53,190	21,276
Closing stock price on date of grant (in usd per share) | $ / shares	$ 12.53				$ 11.75
Restricted Stock Units (RSUs) [Member] | Employees, officers and Directors [Member] | Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price on date of grant (in usd per share) | $ / shares				$ 12.10
Fair value of awards (in usd per share) | $ / shares				$ 6.16
Performance-based RSUs [Member] | Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)							33.33%
Performance-based RSUs [Member] | Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)							33.33%
Performance-based RSUs [Member] | Stock Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (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
Performance-based RSUs [Member] | President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)						285,986
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
Performance-based RSUs [Member] | Employees, officers and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price on date of grant (in usd per share) | $ / shares						$ 4.76
2013 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock (shares)									11,727,833
Shares available for future grant (shares)									6,228,769
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
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)				0.00%
Minimum [Member] | Performance-based RSUs [Member] | Employees, officers and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights (percent)						0.00%
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)				100.00%
Maximum [Member] | Performance-based RSUs [Member] | Employees, officers and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights (percent)						100.00%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Compensation Expense Recognized Related to all Stock-Based Awards (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total stock-based compensation	$ 15,906	$ 12,612	$ 11,935

Stock-Based Compensation - Su77

Stock-Based Compensation - Summary of Stock Option Awards (Detail) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at December 31, 2016 (shares)	2,971,370
Options granted (shares)	0	0	0
Options exercised (shares)	(1,066,298)
Options forfeited (shares)	(750,414)
Options outstanding at December 31, 2017 (shares)	1,154,658	2,971,370
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price, Outstanding, Balance (in usd per share)	$ 13.12
Weighted Average Exercise Price, Granted (in usd per share)	0
Weighted Average Exercise Price, Exercised (in usd per share)	11.74
Weighted Average Exercise Price, Forfeited (in usd per share)	14.09
Weighted Average Exercise Price, Outstanding, Balance (in usd per share)	14.16	$ 13.12
Weighted Average Exercise Price, Options exercisable at December 31, 2017 (in usd per share)	$ 14.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable at December 31, 2017 (shares)	1,039,819
Weighted Average Remaining Contractual Life, Outstanding	4 years 10 months 24 days	4 years 4 months 24 days
Weighted Average Remaining Contractual Life, Options exercisable at December 31, 2017	4 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding, Balance	$ 4,350	$ 1,568
Aggregate Intrinsic Value, Outstanding, Options exercisable at December 31, 2017	$ 3,933

Stock-Based Compensation - Su78

Stock-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)$ / sharesshares
Restricted Stock Units
Nonvested RSUs at December 31, 2016 (shares) | shares	3,412,719
Granted (shares) | shares	1,670,936
Vested (shares) | shares	(714,612)
Forfeited (shares) | shares	(61,451)
Nonvested RSUs at December 31, 2017 (shares) | shares	4,307,592
Weighted Average Grant Date Fair Value Per Share
Weighted Average Grant Date Fair Value, Beginning Balance (in usd per share) | $ / shares	$ 9.77
Weighted Average Grant Date Fair Value, Granted (in usd per share) | $ / shares	11
Weighted Average Grant Date Fair Value, Vested (in usd per share) | $ / shares	12.34
Weighted Average Grant Date Fair Value, Forfeited (in usd per share) | $ / shares	11.66
Weighted Average Grant Date Fair Value, Ending Balance (in usd per share) | $ / shares	$ 9.80
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Beginning Balance | $	$ 39,179
Aggregate Intrinsic Value, Granted | $
Aggregate Intrinsic Value, Ending Balance | $	$ 77,192

Income Taxes - Provision (Benef

Income Taxes - Provision (Benefit) for Income Tax Attributable to Income (Loss) from Continuing Operations before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current:
Federal	$ 95,814	$ 90,387	$ 91,343
State	8,961	8,744	6,715
Total current taxes	104,775	99,131	98,058
Deferred:
Federal	37,151	5,749	8,296
State	10,341	1,214	5,725
Total deferred taxes	47,492	6,963	14,021
Total income tax expense	$ 152,267	$ 106,094	$ 112,079

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Contingency [Line Items]
Federal statutory rate (percent)		35.00%
Reduction in deferred tax asset	$ 22,000,000
Valuation allowance related to deferred tax assets	3,478,000	$ 3,478,000	$ 323,000
Impairment of joint venture		13,200,000	0	$ 0
Unpaid interest amount			0
Tax benefit that would result if uncertain tax positions are reversed	1,400,000	1,400,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Net operating loss carryforward	385,900,000	385,900,000
Valuation allowance related to deferred tax assets	$ 3,500,000	$ 3,500,000	$ 323,000
State and Local Jurisdiction | Minimum [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforward, expire date		Dec. 31, 2028
State and Local Jurisdiction | Maximum [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforward, expire date		Dec. 31, 2036

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Differs from Federal Statutory Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Taxes at the U.S. federal statutory rate	$ 118,936	$ 105,779	$ 111,846
State income taxes, net of federal tax impact	10,712	9,539	9,627
Domestic production activities deduction	(7,108)	(5,037)	(5,566)
Non-deductible transaction costs	541	305	0
Change in valuation allowance	3,256	(4,038)	(1,872)
Tax Cuts and Jobs Act	21,961	0	0
Other, net	3,969	(454)	(1,956)
Total income tax expense	$ 152,267	$ 106,094	$ 112,079
Effective income tax rate (percent)	44.80%	35.10%	35.10%

Income Taxes - Components of De

Income Taxes - Components of Deferred Income Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Impairment and other valuation reserves	$ 40,438	$ 73,890
Incentive compensation	5,851	8,322
Indirect costs capitalized	19,574	25,377
Net operating loss carryforwards (state)	25,172	24,583
State taxes	2,181	2,985
Other costs and expenses	11,354	15,214
Gross deferred tax assets	104,570	150,371
Valuation allowance	(3,478)	(323)
Deferred tax assets, net of valuation allowance	101,092	150,048
Deferred tax liabilities:
Interest capitalized	(7,144)	(814)
Basis difference in inventory	(9,207)	(14,186)
Fixed assets	(1,710)	(1,101)
Intangibles	(5,360)	(8,456)
Deferred financing costs	(898)	(924)
Other	(360)	(1,344)
Deferred tax liabilities	(24,679)	(26,825)
Net deferred tax assets	$ 76,413	$ 123,223

Income Taxes - Schedule of Gros

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 0	$ 272
Increase (decrease) related to prior year tax positions	1,521
Increase (decrease) related to prior year tax positions		(272)
Balance at end of year	$ 1,521	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	1 Months Ended					6 Months Ended	12 Months Ended
	Oct. 31, 2016USD ($)lot	Aug. 31, 2016USD ($)lot	May 31, 2016USD ($)lot	Oct. 31, 2015USD ($)lot	Jan. 31, 2015USD ($)lot	Dec. 31, 2016USD ($)lot	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Income tax liability to Weyerhaeuser						$ 8,589,000	$ 7,706,000
Payment for acquiring lots							$ 0
CALIFORNIA | Starwood Capital Group [Member]
Related Party Transaction [Line Items]
Number of lots acquired | lot	27		52
Payment for acquiring lots	$ 9,600,000		$ 18,400,000
Percentage of common stock held (percent)			5.00%				5.00%
CALIFORNIA | BlackRock, Inc [Member]
Related Party Transaction [Line Items]
Number of lots acquired | lot				161		93
Payment for acquiring lots				$ 60,000,000		$ 25,500,000
COLORADO | Starwood Capital Group [Member]
Related Party Transaction [Line Items]
Number of lots acquired | lot	126	257			46
Payment for acquiring lots	$ 4,200,000	$ 8,600,000			$ 2,800,000

Supplemental Disclosure to Co85

Supplemental Disclosure to Consolidated Statement of Cash Flow - Supplemental Disclosure to Consolidated Statement of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental disclosure of cash flow information:
Interest, net of amounts capitalized of $77,193, $53,028 and $60,964	$ 0	$ 0	$ 0
Income taxes	74,388	117,215	69,917
Supplemental disclosures of noncash activities:
Accrued liabilities related to the purchase of operating properties and equipment	0	1,828	3,976
Amortization of senior note discount capitalized to real estate inventory	2,048	1,815	1,552
Amortization of deferred loan costs capitalized to real estate inventory	5,578	4,642	3,820
Effect of net consolidation and de-consolidation of variable interest entities:
(Decrease) increase in consolidated real estate inventory not owned	(17,485)	(316)	5,297
Increase in accrued expenses and other liabilities	0	0	300
Decrease (increase) in noncontrolling interests	$ 17,485	$ 316	$ (5,597)

Supplemental Disclosure to Co86

Supplemental Disclosure to Consolidated Statement of Cash Flow - Supplemental Disclosure to Consolidated Statement of Cash Flows (Phantoms) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Interest capitalized	$ 77,193	$ 53,028	$ 60,964

Supplemental Guarantor Inform87

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 282,914	$ 208,657	$ 214,485	$ 170,629
Receivables	125,600	82,500
Intercompany receivables	0	0
Real estate inventories	3,105,553	2,910,627
Investments in unconsolidated entities	5,870	17,546
Goodwill and other intangible assets, net	160,961	161,495
Investments in subsidiaries	0	0
Deferred tax assets, net	76,413	123,223
Other assets	48,070	60,592
Total assets	3,805,381	3,564,640
Liabilities
Accounts payable	72,870	70,252
Intercompany payables	0	0
Accrued expenses and other liabilities	330,882	263,845
Unsecured revolving credit facility	0	200,000
Seller financed loans	0	13,726
Senior notes, net	1,471,302	1,168,307
Total liabilities	1,875,054	1,716,130
Equity
Total stockholders’ equity	1,929,722	1,829,447
Noncontrolling interests	605	19,063
Total equity	1,930,327	1,848,510	1,686,463	1,472,476
Total liabilities and equity	3,805,381	3,564,640
Reporting Entity [Member] | Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	106,230	67,089	66,714	64,741
Receivables	69,579	55,808
Intercompany receivables	0	0
Real estate inventories	2,249,826	2,042,539
Investments in unconsolidated entities	5,870	17,546
Goodwill and other intangible assets, net	4,357	4,891
Investments in subsidiaries	0	0
Deferred tax assets, net	65,521	107,579
Other assets	44,605	49,191
Total assets	2,545,988	2,344,643
Liabilities
Accounts payable	63,506	49,615
Intercompany payables	794,550	775,321
Accrued expenses and other liabilities	238,637	215,349
Unsecured revolving credit facility		0
Seller financed loans		0
Senior notes, net	0	0
Total liabilities	1,096,693	1,040,285
Equity
Total stockholders’ equity	1,448,690	1,285,295
Noncontrolling interests	605	19,063
Total equity	1,449,295	1,304,358
Total liabilities and equity	2,545,988	2,344,643
Reporting Entity [Member] | Issuer [Member]
Assets
Cash and cash equivalents	176,684	141,568	147,771	105,888
Receivables	56,021	26,692
Intercompany receivables	794,550	775,321
Real estate inventories	855,727	868,088
Investments in unconsolidated entities	0	0
Goodwill and other intangible assets, net	156,604	156,604
Investments in subsidiaries	1,448,690	1,285,295
Deferred tax assets, net	10,892	15,644
Other assets	3,465	11,401
Total assets	3,502,633	3,280,613
Liabilities
Accounts payable	9,364	20,637
Intercompany payables	0	0
Accrued expenses and other liabilities	92,245	48,496
Unsecured revolving credit facility		200,000
Seller financed loans		13,726
Senior notes, net	1,471,302	1,168,307
Total liabilities	1,572,911	1,451,166
Equity
Total stockholders’ equity	1,929,722	1,829,447
Noncontrolling interests	0	0
Total equity	1,929,722	1,829,447
Total liabilities and equity	3,502,633	3,280,613
Consolidating Adjustments [Member]
Assets
Cash and cash equivalents	0	0	$ 0	$ 0
Receivables	0	0
Intercompany receivables	(794,550)	(775,321)
Real estate inventories	0	0
Investments in unconsolidated entities	0	0
Goodwill and other intangible assets, net	0	0
Investments in subsidiaries	(1,448,690)	(1,285,295)
Deferred tax assets, net	0	0
Other assets	0	0
Total assets	(2,243,240)	(2,060,616)
Liabilities
Accounts payable	0	0
Intercompany payables	(794,550)	(775,321)
Accrued expenses and other liabilities	0	0
Unsecured revolving credit facility		0
Seller financed loans		0
Senior notes, net	0	0
Total liabilities	(794,550)	(775,321)
Equity
Total stockholders’ equity	(1,448,690)	(1,285,295)
Noncontrolling interests	0	0
Total equity	(1,448,690)	(1,285,295)
Total liabilities and equity	$ (2,243,240)	$ (2,060,616)

Supplemental Guarantor Inform88

Supplemental Guarantor Information - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Homebuilding:
Home sales revenue									$ 2,732,299	$ 2,329,336	$ 2,291,264
Land and lot sales revenue									74,269	72,272	101,284
Other operations revenue									2,333	2,314	7,601
Total revenues	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 773,753	$ 582,029	$ 625,222	$ 424,138	2,808,901	2,403,922	2,400,149
Cost of home sales									2,173,251	1,836,327	1,808,776
Cost of land and lot sales									14,888	17,367	35,089
Other operations expense									2,298	2,247	4,360
Sales and marketing									137,066	127,903	116,217
General and administrative									137,764	124,119	120,825
Homebuilding income from operations									343,634	295,959	314,882
Equity in loss of unconsolidated entities									(11,433)	179	1,460
Other income, net									151	312	858
Homebuilding income before income taxes									332,352	296,450	317,200
Financial Services:
Revenues									1,371	1,220	1,010
Expenses									331	253	181
Equity in income of unconsolidated entities									6,426	4,810	1,231
Financial services income before income taxes									7,466	5,777	2,060
Income before income taxes									339,818	302,227	319,260
Provision for income taxes									(152,267)	(106,094)	(112,079)
Equity of net income (loss) of subsidiaries									0	0	0
Net income	74,242	72,289	32,803	8,217	58,085	35,145	74,193	28,710	187,551	196,133	207,181
Net income attributable to noncontrolling interests	(222)	(25)	(89)	(24)	(224)	(311)	(267)	(160)	(360)	(962)	(1,720)
Net income available to common stockholders	$ 74,020	$ 72,264	$ 32,714	$ 8,193	$ 57,861	$ 34,834	$ 73,926	$ 28,550	187,191	195,171	205,461
Reporting Entity [Member] | Guarantor Subsidiaries [Member]
Homebuilding:
Home sales revenue									1,805,052	1,606,150	1,517,259
Land and lot sales revenue									74,269	72,272	101,284
Other operations revenue									2,333	2,314	7,601
Total revenues									1,881,654	1,680,736	1,626,144
Cost of home sales									1,392,519	1,229,011	1,183,985
Cost of land and lot sales									14,888	17,367	35,089
Other operations expense									2,298	2,247	4,360
Sales and marketing									102,780	98,811	89,425
General and administrative									70,758	64,792	65,383
Homebuilding income from operations									298,411	268,508	247,902
Equity in loss of unconsolidated entities									(11,433)	179	1,460
Other income, net									113	163	985
Homebuilding income before income taxes									287,091	268,850	250,347
Financial Services:
Revenues									1,371	1,220	1,010
Expenses									331	253	181
Equity in income of unconsolidated entities									6,426	4,810	1,231
Financial services income before income taxes									7,466	5,777	2,060
Income before income taxes									294,557	274,627	252,407
Provision for income taxes									(129,766)	(94,772)	(92,078)
Equity of net income (loss) of subsidiaries									0	0	0
Net income									164,791	179,855	160,329
Net income attributable to noncontrolling interests									(360)	(962)	(1,720)
Net income available to common stockholders									164,431	178,893	158,609
Reporting Entity [Member] | Issuer [Member]
Homebuilding:
Home sales revenue									927,247	723,186	774,005
Land and lot sales revenue									0	0	0
Other operations revenue									0	0	0
Total revenues									927,247	723,186	774,005
Cost of home sales									780,732	607,316	624,791
Cost of land and lot sales									0	0	0
Other operations expense									0	0	0
Sales and marketing									34,286	29,092	26,792
General and administrative									67,006	59,327	55,442
Homebuilding income from operations									45,223	27,451	66,980
Equity in loss of unconsolidated entities									0	0	0
Other income, net									38	149	(127)
Homebuilding income before income taxes									45,261	27,600	66,853
Financial Services:
Revenues									0	0	0
Expenses									0	0	0
Equity in income of unconsolidated entities									0	0	0
Financial services income before income taxes									0	0	0
Income before income taxes									45,261	27,600	66,853
Provision for income taxes									(22,501)	(11,322)	(20,001)
Equity of net income (loss) of subsidiaries									164,431	178,893	158,609
Net income									187,191	195,171	205,461
Net income attributable to noncontrolling interests									0	0	0
Net income available to common stockholders									187,191	195,171	205,461
Consolidating Adjustments [Member]
Homebuilding:
Home sales revenue									0	0	0
Land and lot sales revenue									0	0	0
Other operations revenue									0	0	0
Total revenues									0	0	0
Cost of home sales									0	0	0
Cost of land and lot sales									0	0	0
Other operations expense									0	0	0
Sales and marketing									0	0	0
General and administrative									0	0	0
Homebuilding income from operations									0	0	0
Equity in loss of unconsolidated entities									0	0	0
Other income, net									0	0	0
Homebuilding income before income taxes									0	0	0
Financial Services:
Revenues									0	0	0
Expenses									0	0	0
Equity in income of unconsolidated entities									0	0	0
Financial services income before income taxes									0	0	0
Income before income taxes									0	0	0
Provision for income taxes									0	0	0
Equity of net income (loss) of subsidiaries									(164,431)	(178,893)	(158,609)
Net income									(164,431)	(178,893)	(158,609)
Net income attributable to noncontrolling interests									0	0	0
Net income available to common stockholders									$ (164,431)	$ (178,893)	$ (158,609)

Supplemental Guarantor Inform89

Supplemental Guarantor Information - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net cash provided by operating activities	$ 101,674	$ (158,310)	$ 31,005
Cash flows from investing activities:
Purchases of property and equipment	(2,605)	(3,985)	(809)
Proceeds from sale of property and equipment	6	9	0
Investments in unconsolidated entities	(980)	(32)	(1,468)
Distributions from unconsolidated entities	0	0	1,415
Intercompany	0	0	0
Net cash used in investing activities	(3,579)	(4,008)	(862)
Cash flows from financing activities:
Borrowings from debt	500,000	541,069	140,000
Repayment of debt	(413,726)	(330,858)	(112,851)
Debt issuance costs	(5,957)	(5,062)	(2,688)
Repayment of debt payable to Weyerhaeuser	0	(2,442)	(6,769)
Contributions from noncontrolling interests	0	1,955	5,990
Distributions to noncontrolling interests	(1,333)	(5,318)	(9,823)
Proceeds from issuance of common stock under share-based awards	12,291	587	1,616
Excess tax benefits of share-based awards	0	0	428
Minimum tax withholding paid on behalf of employees for share-based awards	(2,896)	(1,359)	(2,190)
Share repurchases	(112,217)	(42,082)
Intercompany	0	0	0
Net cash (used in) provided by financing activities	(23,838)	156,490	13,713
Net increase (decrease) in cash and cash equivalents	74,257	(5,828)	43,856
Cash and cash equivalents - beginning of year	208,657	214,485	170,629
Cash and cash equivalents - end of year	282,914	208,657	214,485
Reporting Entity [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities
Net cash provided by operating activities	28,466	21,087	29,291
Cash flows from investing activities:
Purchases of property and equipment	(1,181)	(2,382)	254
Proceeds from sale of property and equipment	6	9
Investments in unconsolidated entities	(980)	(32)	(1,468)
Distributions from unconsolidated entities			1,415
Intercompany	0	0	0
Net cash used in investing activities	(2,155)	(2,405)	201
Cash flows from financing activities:
Borrowings from debt	0	0	0
Repayment of debt	0	(400)	(200)
Debt issuance costs	0	0	0
Repayment of debt payable to Weyerhaeuser		(2,442)	(6,769)
Contributions from noncontrolling interests		1,955	5,990
Distributions to noncontrolling interests	(1,333)	(5,318)	(9,823)
Proceeds from issuance of common stock under share-based awards	0	0	0
Excess tax benefits of share-based awards			0
Minimum tax withholding paid on behalf of employees for share-based awards	0	0	0
Share repurchases	0	0
Intercompany	14,163	(12,102)	(16,717)
Net cash (used in) provided by financing activities	12,830	(18,307)	(27,519)
Net increase (decrease) in cash and cash equivalents	39,141	375	1,973
Cash and cash equivalents - beginning of year	67,089	66,714	64,741
Cash and cash equivalents - end of year	106,230	67,089	66,714
Reporting Entity [Member] | Issuer [Member]
Cash flows from operating activities
Net cash provided by operating activities	73,208	(179,397)	1,714
Cash flows from investing activities:
Purchases of property and equipment	(1,424)	(1,603)	(1,063)
Proceeds from sale of property and equipment	0	0
Investments in unconsolidated entities	0	0	0
Distributions from unconsolidated entities			0
Intercompany	(14,163)	12,102	16,717
Net cash used in investing activities	(15,587)	10,499	15,654
Cash flows from financing activities:
Borrowings from debt	500,000	541,069	140,000
Repayment of debt	(413,726)	(330,458)	(112,651)
Debt issuance costs	(5,957)	(5,062)	(2,688)
Repayment of debt payable to Weyerhaeuser		0	0
Contributions from noncontrolling interests		0	0
Distributions to noncontrolling interests	0	0	0
Proceeds from issuance of common stock under share-based awards	12,291	587	1,616
Excess tax benefits of share-based awards			428
Minimum tax withholding paid on behalf of employees for share-based awards	(2,896)	(1,359)	(2,190)
Share repurchases	(112,217)	(42,082)
Intercompany	0	0	0
Net cash (used in) provided by financing activities	(22,505)	162,695	24,515
Net increase (decrease) in cash and cash equivalents	35,116	(6,203)	41,883
Cash and cash equivalents - beginning of year	141,568	147,771	105,888
Cash and cash equivalents - end of year	176,684	141,568	147,771
Consolidating Adjustments [Member]
Cash flows from operating activities
Net cash provided by operating activities	0	0	0
Cash flows from investing activities:
Purchases of property and equipment	0	0	0
Proceeds from sale of property and equipment	0	0
Investments in unconsolidated entities	0	0	0
Distributions from unconsolidated entities			0
Intercompany	14,163	(12,102)	(16,717)
Net cash used in investing activities	14,163	(12,102)	(16,717)
Cash flows from financing activities:
Borrowings from debt	0	0	0
Repayment of debt	0	0	0
Debt issuance costs	0	0	0
Repayment of debt payable to Weyerhaeuser		0	0
Contributions from noncontrolling interests		0	0
Distributions to noncontrolling interests	0	0	0
Proceeds from issuance of common stock under share-based awards	0	0	0
Excess tax benefits of share-based awards			0
Minimum tax withholding paid on behalf of employees for share-based awards	0	0	0
Share repurchases	0	0
Intercompany	(14,163)	12,102	16,717
Net cash (used in) provided by financing activities	(14,163)	12,102	16,717
Net increase (decrease) in cash and cash equivalents	0	0	0
Cash and cash equivalents - beginning of year	0	0	0
Cash and cash equivalents - end of year	$ 0	$ 0	$ 0

Results of Quarterly Operatio90

Results of Quarterly Operations - Schedule of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 773,753	$ 582,029	$ 625,222	$ 424,138	$ 2,808,901	$ 2,403,922	$ 2,400,149
Cost of homes sales and other	880,849	534,494	455,476	319,618	617,684	464,632	447,781	325,844
Gross margin	247,671	183,241	115,150	73,773	156,069	117,397	177,441	98,294
Net income	74,242	72,289	32,803	8,217	58,085	35,145	74,193	28,710	187,551	196,133	207,181
Net (income) loss attributable to noncontrolling interests	(222)	(25)	(89)	(24)	(224)	(311)	(267)	(160)	(360)	(962)	(1,720)
Net income available to common stockholders	$ 74,020	$ 72,264	$ 32,714	$ 8,193	$ 57,861	$ 34,834	$ 73,926	$ 28,550	$ 187,191	$ 195,171	$ 205,461
Earnings per share
Basic (in dollars per share)	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 0.36	$ 0.22	$ 0.46	$ 0.18	$ 1.21	$ 1.21	$ 1.27
Diluted (in dollars per share)	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 0.36	$ 0.22	$ 0.46	$ 0.18	$ 1.21	$ 1.21	$ 1.27