Taylor Morrison Home (TMHC) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 05, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	TMHC
Entity Registrant Name	Taylor Morrison Home Corp
Entity Central Index Key	1,562,476
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,079,677
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		89,200,063

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 145,546	$ 234,217
Restricted cash	655	1,310
Real estate inventory:
Owned inventory	2,944,300	2,511,623
Real estate not owned under option agreements	2,594	6,698
Total real estate inventory	2,946,894	2,518,321
Land deposits	36,255	34,544
Mortgage loans held for sale	110,526	191,140
Prepaid expenses and other assets, net	99,909	89,210
Other receivables, net	115,847	85,274
Investments in unconsolidated entities	128,473	110,291
Deferred tax assets, net	251,392	258,190
Property and equipment, net	5,690	5,337
Intangible assets, net	5,697	5,459
Goodwill	32,500	23,375
Assets of discontinued operations		576,445
Total assets	3,879,384	4,133,113
Liabilities
Accounts payable	151,272	122,466
Accrued expenses and other liabilities	174,027	200,556
Income taxes payable	29,821	50,096
Customer deposits	99,875	70,465
Senior notes	1,250,000	1,388,840
Loans payable and other borrowings	123,067	147,516
Revolving credit facility borrowings	105,000	40,000
Mortgage warehouse borrowings	71,485	160,750
Liabilities attributable to consolidated option agreements	2,594	6,698
Liabilities of discontinued operations		168,565
Total liabilities	$ 2,007,141	$ 2,355,952
COMMITMENTS AND CONTINGENCIES (Note 17)
Stockholders' Equity
Preferred stock, $0.00001 par value, 50,000,000 shares authorized, no shares issued and outstanding as of June 30, 2015 and December 31, 2014
Additional paid-in capital	$ 375,745	$ 374,358
Retained earnings	145,987	114,948
Accumulated other comprehensive loss	(17,846)	(10,910)
Total stockholders' equity attributable to Taylor Morrison Home Corporation	503,887	478,397
Non-controlling interests - joint ventures	6,354	6,528
Non-controlling interests - Principal Equityholders	1,362,002	1,292,236
Total stockholders' equity	1,872,243	1,777,161
Total liabilities and stockholders' equity	3,879,384	4,133,113
Common Class B [Member]
Stockholders' Equity
Common stock	$ 1	$ 1

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Common stock, shares outstanding	122,279,740
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Class A [Member]
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	33,079,677	33,060,540
Common stock, shares outstanding	33,079,677	33,060,540
Common Class B [Member]
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	89,200,063	89,227,416
Common stock, shares outstanding	89,200,063	89,227,416

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Home closings revenue, net	$ 682,387	$ 582,859	$ 1,175,980	$ 1,038,154
Land closings revenue	8,743	5,974	16,931	14,892
Mortgage operations revenue	9,843	8,175	17,478	14,437
Total revenues	700,973	597,008	1,210,389	1,067,483
Cost of home closings	553,652	460,044	958,757	816,344
Cost of land closings	4,566	4,964	9,232	11,822
Mortgage operations expenses	6,096	4,648	11,158	8,584
Total cost of revenues	564,314	469,656	979,147	836,750
Gross margin	136,659	127,352	231,242	230,733
Sales, commissions and other marketing costs	47,022	39,546	83,242	72,930
General and administrative expenses	24,204	19,224	44,908	38,465
Equity in income of unconsolidated entities	(1,225)	(1,253)	(1,527)	(2,237)
Interest (income) expense, net	(82)	96	(132)	782
Other expense, net	3,463	4,231	9,232	7,329
Loss on extinguishment of debt	33,317		33,317
Gain on foreign currency forward			(29,983)
Income from continuing operations before income taxes	29,960	65,508	92,185	113,464
Income tax provision	9,939	20,105	31,981	31,061
Net income from continuing operations	20,021	45,403	60,204	82,403
Discontinued operations:
Income from discontinued operations		14,138		20,573
Transaction expenses from discontinued operations			(9,043)
Gain on sale of discontinued operations			80,205
Income tax expense from discontinued operations		(4,042)	(14,500)	(6,181)
Net income from discontinued operations		10,096	56,662	14,392
Net income before allocation to non-controlling interests	20,021	55,499	116,866	96,795
Net income attributable to non-controlling interests - joint ventures	(920)	(222)	(1,289)	(339)
Net income before non-controlling interests - Principal Equityholders	19,101	55,277	115,577	96,456
Net income from continuing operations attributable to non-controlling interests - Principal Equityholders	(14,024)	(33,081)	(43,157)	(60,186)
Net income from discontinued operations attributable to non-controlling interests - Principal Equityholders		(7,380)	(41,381)	(10,522)
Net income available to Taylor Morrison Home Corporation	$ 5,077	$ 14,816	$ 31,039	$ 25,748
Earnings per common share - basic:
Income from continuing operations	$ 0.15	$ 0.37	$ 0.48	$ 0.66
Income from discontinued operations - net of tax		0.08	0.46	0.12
Net income available to Taylor Morrison Home Corporation	0.15	0.45	0.94	0.78
Earnings per common share - diluted:
Income from continuing operations	0.15	0.37	0.48	0.66
Income from discontinued operations - net of tax		0.08	0.46	0.12
Net income available to Taylor Morrison Home Corporation	$ 0.15	$ 0.45	$ 0.94	$ 0.78
Weighted average number of shares of common stock:
Basic	33,076	32,875	33,071	32,866
Diluted	122,409	122,354	122,382	122,349

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income before non-controlling interests, net of tax	$ 20,021	$ 55,499	$ 116,866	$ 96,795
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax	199	14,682	(27,214)	418
Post-retirement benefits adjustments, net of tax		(2,118)	1,757	(1,780)
Other comprehensive income (loss), net of tax	199	12,564	(25,457)	(1,362)
Comprehensive income	20,220	68,063	91,409	95,433
Comprehensive income available to Taylor Morrison Home Corporation	5,081	18,191	24,103	25,382
Joint Ventures [Member]
Other comprehensive income (loss), net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	(920)	(222)	(1,289)	(339)
Principal Equityholders [Member]
Other comprehensive income (loss), net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	$ (14,219)	$ (49,650)	$ (66,017)	$ (69,712)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interest [Member]	Non-controlling Interest [Member]Joint Ventures [Member]	Non-controlling Interest [Member]Principal Equityholders [Member]
Balance at Dec. 31, 2013	$ 1,544,901		$ 1	$ 372,789	$ 43,479	$ (452)		$ 7,236	$ 1,121,848
Balance, shares at Dec. 31, 2013		32,857,800	89,451,164
Net income	96,795				25,748			339	70,708
Other comprehensive loss	(1,362)					(366)			(996)
Exchange of New TMM Units and corresponding number of Class B Common Stock		37,264,000	(37,264,000)
Cancellation of forfeited New TMM Units and corresponding number of Class B Common Stock			(27,724,000)
Share based compensation	2,820			757					2,063
Distributions to non-controlling interests-joint ventures	(444)							(444)
Balance at Jun. 30, 2014	1,642,710		$ 1	373,546	69,227	(818)		7,131	1,193,623
Balance, shares at Jun. 30, 2014		32,895,064	89,386,176
Balance at Dec. 31, 2014	1,777,161		$ 1	374,358	114,948	(10,910)		6,528	1,292,236
Balance, shares at Dec. 31, 2014		33,060,540	89,227,416
Net income	116,866				31,039			1,289	84,538
Other comprehensive loss	(25,457)					(6,936)	$ (518)		(18,521)
Exchange of New TMM Units and corresponding number of Class B Common Stock		8,330	(8,330)
Cancellation of forfeited New TMM Units and corresponding number of Class B Common Stock			(19,023)
Issuance of restricted stock units		10,807
Share based compensation	5,136			1,387					3,749
Distributions to non-controlling interests-joint ventures	(1,463)							(1,463)
Balance at Jun. 30, 2015	$ 1,872,243		$ 1	$ 375,745	$ 145,987	$ (17,846)		$ 6,354	$ 1,362,002
Balance, shares at Jun. 30, 2015		33,079,677	89,200,063

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$ 116,866	$ 96,795
Adjustments to reconcile net income to net cash used in operating activities:
Equity in income of unconsolidated entities		(1,527)	(10,741)
Stock compensation expense		3,596	2,820
Loss on extinguishment of debt		33,317
Distributions of earnings from unconsolidated entities		1,437	18,861
Depreciation and amortization		1,852	2,625
Net income from discontinued operations		(56,662)	(14,392)
Gain on foreign currency forward		(29,983)
Contingent consideration		6,705
Deferred income taxes		6,798	(8,226)
Changes in operating assets and liabilities:
Real estate inventory and land deposits		(391,680)	(425,710)
Mortgage loans held for sale, prepaid expenses and other assets		23,728	(40,632)
Customer deposits		28,597	25,499
Accounts payable, accrued expenses and other liabilities		(15,090)	6,637
Income taxes payable		(20,862)	(18,832)
Net cash used in operating activities		(292,908)	(350,904)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(1,499)	(1,774)
Business acquisitions		(62,440)
Distribution from unconsolidated entities		6,857	1,751
Decrease in restricted cash		655	6,743
Investments of capital into unconsolidated entities		(24,950)	(56,662)
Proceeds from sale of discontinued operations		268,853
Gain on foreign currency forward		29,983
Net cash provided by (used in) investing activities		217,459	(49,942)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on line of credit related to mortgage borrowings		354,812	201,634
Repayment on line of credit related to mortgage borrowings		(444,077)	(227,244)
Proceeds from loans payable and other borrowings			28,404
Repayments of loans payable and other borrowings		(24,449)	(74,334)
Borrowings on revolving credit facility		115,000	93,000
Payments on revolving credit facility		(50,000)	(53,000)
Proceeds from the issuance of senior notes		350,000	350,000
Repayments on senior notes		(513,608)
Deferred financing costs		(4,538)	(6,255)
Payment of contingent consideration		(3,050)
Distributions to non-controlling interests - joint ventures		(1,373)	(444)
Net cash (used in) provided by financing activities		(221,283)	311,761
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		(19,927)	725
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(316,659)	(88,360)
CASH AND CASH EQUIVALENTS - Beginning of period	[1]	462,205	389,181
CASH AND CASH EQUIVALENTS - End of period		145,546	300,821
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net		(59,810)	(63,391)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Increase in loans payable issued to sellers in connection with land purchase contracts		(28,554)	(15,135)
Accrual of contingent consideration		3,200
Non-cash portion of loss on debt extinguishment		$ 5,102
Decrease (increase) in income taxes payable and related tax indemnification receivable from seller			$ 318
[1]	(1) Cash and cash equivalents shown here include the cash related to Monarch. At December 31, 2014, cash held at Monarch was $227,988.

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands		Dec. 31, 2014
Cash and cash equivalents	[1]	$ 462,205
Monarch [Member]
Cash and cash equivalents		$ 227,988
[1]	(1) Cash and cash equivalents shown here include the cash related to Monarch. At December 31, 2014, cash held at Monarch was $227,988.

Business

Business	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Business	1. BUSINESS Organization and Description of the Business On July 13, 2011, TMM Holdings Limited Partnership (“TMM Holdings”), an entity formed by a consortium comprised of affiliates of TPG Global, LLC (the “TPG Entities” or “TPG”), investment funds managed by Oaktree Capital Management, L.P. (“Oaktree”) or their respective subsidiaries (the “Oaktree Entities”), and affiliates of JH Investments, Inc. (the “JH Entities” and together with the TPG Entities and Oaktree Entities, the “Principal Equityholders”), acquired (the “Acquisition”) our predecessor, Taylor Woodrow Holdings (USA), Inc., now known as Taylor Morrison Communities, Inc. On April 12, 2013, TMHC completed the initial public offering (the “IPO”) of its Class A common stock, par value $0.00001 per share (the “Class A Common Stock”). The shares of Class A Common Stock began trading on the New York Stock Exchange on April 10, 2013 under the ticker symbol “TMHC.” As a result of the completion of the IPO and a series of transactions pursuant to a Reorganization Agreement dated as of April 9, 2013 (the “Reorganization Transactions”), TMHC became the indirect parent of TMM Holdings through the formation of TMM Holdings II Limited Partnership (“New TMM”). In the Reorganization Transactions, the TPG Entities and the Oaktree Entities each formed new holding vehicles to hold interests in New TMM (the “TPG Holding Vehicle” and the “Oaktree Holding Vehicle” respectively). As of June 30, 2015 and December 31, 2014, the Principal Equityholders owned 73% of the Company. On January 28, 2015 we closed on the sale of Monarch Corporation, our former Canadian operating segment (“Monarch”), to an affiliate of Mattamy Homes Limited. As a result of the sale, we do not have significant continuing involvement with Monarch. On April 30, 2015, we acquired JEH Homes, an Atlanta based homebuilder, for a purchase price of approximately $62.4 million, excluding contingent consideration. See Note 2 – Summary of Significant Accounting Policies

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation Unless otherwise stated, amounts are shown in U.S. dollars. Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date, and revenues and expenses are translated at average rates of exchange prevailing during the period. Translation adjustments resulting from this process are recorded to accumulated other comprehensive income (loss) in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Stockholders’ Equity. Discontinued Operations – Note 4 – Discontinued Operations Non-controlling interests Purchase Price Allocation and Related Acquisition Accounting , Business Combinations We determined the fair value of real estate inventory on a community-by-community basis primarily using the sales comparison and income approaches. The income approach derives a value indication for income-producing real property by converting anticipated benefits, such as discounted cash flow, into property value. This approach was used exclusively for finished lots. The income approach using discounted cash flows was also used to value lot option contracts acquired. The sales comparison approach was used for all inventory in process. These estimated cash flows are significantly affected by the discount rate, estimates related to expected average selling prices and sales incentives, expected sales paces and cancellation rates, expected land development and construction timelines, and anticipated land development, construction, and overhead costs. Such estimates must be made for each individual community and may vary significantly between communities. The Company has completed a preliminary allocation of purchase price as of June 30, 2015 and expects to finalize the allocation within one year from the date of the acquisition. The following is a summary of the fair value of assets acquired and liabilities created as of June 30, 2015 (in thousands): Financial Statement Caption Total Real estate inventory $ 54,819 Prepaid expenses and other assets 1,301 Property and equipment 395 Goodwill 9,125 Total assets 65,640 Less contingent consideration (3,200 ) Purchase price, net $ 62,440 No other intangible assets were acquired as part of the business combination. Use of Estimates Non-controlling Interests – Principal Equityholders – Stock Based Compensation Compensation – Stock Compensation. Recently Issued Accounting Pronouncements Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	3. EARNINGS PER SHARE Basic earnings per common share is computed by dividing net income available to TMHC by the weighted average number of Class A Common Stock outstanding during the period. Diluted earnings per share gives effect to the potential dilution that could occur if all shares of Class B Common Stock and their corresponding New TMM Units were exchanged for Class A Common Stock and if equity awards to issue common stock that are dilutive were exercised: Three Months Ended Six Months Ended Numerator: 2015 2014 2015 2014 Net income available to TMHC – basic $ 5,077 $ 14,816 $ 31,039 $ 25,748 Income from discontinued operations, net of tax — 10,096 56,662 14,392 Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders — (7,380 ) (41,381 ) (10,522 ) Net income from discontinued operations – basic $ — $ 2,716 $ 15,281 $ 3,870 Net income from continuing operations – basic $ 5,077 $ 12,100 $ 15,758 $ 21,878 Net income from continuing operations – basic $ 5,077 $ 12,100 $ 15,758 $ 21,878 Net income from continuing operations attributable to non-controlling interest – Principal Equityholders 14,024 33,081 43,157 60,186 Loss fully attributable to public holding company 110 44 229 244 Net income from continuing operations – diluted $ 19,211 $ 45,225 $ 59,144 $ 82,308 Net income from discontinued operations – diluted $ — $ 10,096 $ 56,662 $ 14,392 Denominator: Weighted average shares – basic (Class A) 33,076 32,875 33,071 32,866 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 89,200 89,434 89,203 89,443 Restricted stock units 133 45 108 40 Stock Options — — — — Weighted average shares – diluted 122,409 122,354 122,382 122,349 Earnings per common share – basic: Income from continuing operations $ 0.15 $ 0.37 $ 0.48 $ 0.66 Income from discontinued operations, nets of tax $ — $ 0.08 $ 0.46 $ 0.12 Net income available to Taylor Morrison Home Corporation $ 0.15 $ 0.45 $ 0.94 $ 0.78 Earnings per common share – diluted: Income from continuing operations $ 0.15 $ 0.37 $ 0.48 $ 0.66 Income from discontinued operations, net of tax $ — $ 0.08 $ 0.46 $ 0.12 Net income available to Taylor Morrison Home Corporation $ 0.15 $ 0.45 $ 0.94 $ 0.78 We excluded a total weighted average of 1,580,186 and 1,264,137 stock options and Restricted Stock Units (“RSUs”) and 1,546,380 and 1,252,237 stock options and RSUs from the calculation of earnings per share for the three and six months ended June 30, 2015 and 2014, respectively, as their inclusion is anti-dilutive. The shares of Class B Common Stock have voting rights but do not have economic rights or rights to dividends or distributions on liquidation and therefore are not participating securities. Accordingly, Class B Common Stock is not included in basic earnings per share. Additionally, the income from Principal Equityholders’ non-controlling interest and the related Class B Common Stock may produce a slight anti-dilutive effect on diluted earnings per common share.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	4. DISCONTINUED OPERATIONS In connection with the decision to sell Monarch in December 2014, the operating results of the Monarch business are classified as discontinued operations – net of applicable taxes in the Condensed Consolidated Statements of Operations for all periods presented, and the assets and liabilities associated with this business are classified as assets of discontinued operations and liabilities of discontinued operations, as appropriate, in the Condensed Consolidated Balance Sheets for all applicable periods presented. In the three and six months ended June 30, 2015, we did not record any revenues related to Monarch. The activity recorded in 2015 consists of post-closing transaction expenses, including administrative costs, legal fees, and stock based compensation charges. The gain on sale of discontinued operations was determined using the purchase price of Monarch, less related costs and tax. In the three and six months ended June 30, 2014 we recorded $60.8 million and $109.5 million, respectively, of revenues related to Monarch, which is included in discontinued operations. The components of assets and liabilities of discontinued operations at December 31, 2014 are as follows (in thousands): Cash and cash equivalents $ 227,988 Restricted cash 11,474 Real estate inventory 149,087 Land deposits 7,547 Loans receivable 40,808 Tax indemnification receivable 5,194 Prepaid expenses and other assets, net 11,197 Other receivables, net 1,984 Investments in unconsolidated entities 111,887 Deferred tax assets, net 3,233 Property and equipment, net 2,546 Intangible assets, net 3,500 Assets of discontinued operations $ 576,445 Accounts payable $ 14,438 Accrued expenses and other liabilities 44,554 Income taxes payable 8,076 Customer deposits 11,166 Loans payable and other borrowings 90,331 Liabilities of discontinued operations $ 168,565

Derivative Financial Instrument

Derivative Financial Instrument	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instrument	5. DERIVATIVE FINANCIAL INSTRUMENT In December 2014, we entered into a derivative financial instrument in the form of a foreign currency forward. The derivative financial instrument hedged our exposure to the Canadian dollar in conjunction with the disposition of the Monarch business. The aggregate notional amount of the foreign exchange derivative financial instrument was $471.2 million at December 31, 2014. At December 31, 2014 the fair value of the instrument was not material to our consolidated financial position or results of operations. The final settlement of the derivative financial instrument occurred on January 30, 2015 and a gain in the amount of $30.0 million was recorded in the gain on foreign currency forward in the Condensed Consolidated Statements of Operations for the six months ended June 30, 2015.

Real Estate Inventory and Land

Real Estate Inventory and Land Deposits	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Real Estate Inventory and Land Deposits	6. REAL ESTATE INVENTORY AND LAND DEPOSITS In accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment In the ordinary course of business, we enter into various specific performance contracts to acquire lots. Real estate not owned under these contracts is consolidated into real estate inventory with a corresponding liability in liabilities attributable to consolidated option agreements in the Condensed Consolidated Balance Sheets. Inventory consists of the following (in thousands): As of June 30, 2015 As of December 31, 2014 Operating communities, including capitalized interest $ 2,726,828 $ 2,217,067 Real estate held for development or held for sale 217,472 294,556 Total owned inventory 2,944,300 2,511,623 Real estate not owned under option contracts 2,594 6,698 Total real estate inventory $ 2,946,894 $ 2,518,321 The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2015 As of December 31, 2014 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 8,599 $ 385,523 9,825 $ 464,882 Partially developed 8,819 537,531 8,680 654,759 Finished 11,309 1,235,565 8,727 787,033 Long-term strategic assets 3,265 14,153 3,564 27,993 Total 31,992 $ 2,172,772 30,796 $ 1,934,667 Land Deposits As of June 30, 2015 and December 31, 2014, we had the right to purchase 6,871 and 5,372 lots under land option purchase contracts, respectively, which represents an aggregate purchase price of $549.2 million and $323.5 million as of June 30, 2015 and December 31, 2014, respectively. We do not have title to the property and the creditors generally have no recourse. As of June 30, 2015 and December 31, 2014, our exposure to loss related to our option contracts with third parties and unconsolidated entities consists of non-refundable option deposits totaling $36.3 million and $34.5 million, respectively, in land deposits related to land options and land purchase contracts. Creditors of these VIEs, if any, generally have no recourse against us. For the three and six months ended June 30, 2015 and 2014, no impairment of option deposits or capitalized pre-acquisition costs were recorded. We continue to evaluate the terms of open land option and purchase contracts and may impair option deposits and capitalized pre-acquisition costs in the future. Capitalized Interest Three Months Ended Six Months Ended 2015 2014 2015 2014 Interest capitalized - beginning of period $ 103,892 $ 79,538 $ 94,880 $ 71,263 Interest incurred 23,268 22,686 48,307 40,451 Interest amortized to cost of home closings (20,690 ) (14,998 ) (36,717 ) (24,488 ) Interest capitalized - end of period $ 106,470 $ 87,226 $ 106,470 $ 87,226

Investments in Unconsolidated E

Investments in Unconsolidated Entities	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	7. INVESTMENTS IN UNCONSOLIDATED ENTITIES We participate in a number of joint ventures with related and unrelated third parties, with ownership interests up to 50.0%. These entities are generally involved in real estate development, homebuilding and mortgage lending activities. Summarized, unaudited financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands): As of June 30, 2015 As of December 31, 2014 Assets: Real estate inventory $ 536,143 $ 396,858 Other assets 109,904 59,963 Total assets $ 646,047 $ 456,821 Liabilities and owners’ equity: Debt $ 223,065 $ 129,561 Other liabilities 9,801 8,870 Total liabilities 232,866 $ 138,431 Owners’ equity: TMHC 128,473 110,291 Others 284,708 208,099 Total owners’ equity 413,181 318,390 Total liabilities and owners’ equity $ 646,047 $ 456,821 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues $ 15,777 $ 7,033 $ 17,473 $ 8,663 Costs and expenses (12,859 ) (3,827 ) (14,030 ) (4,054 ) Income of unconsolidated entities $ 2,918 $ 3,206 $ 3,443 $ 4,609 Company’s share in income of unconsolidated entities $ 1,225 $ 1,253 $ 1,527 $ 2,237 Distributions of earnings from unconsolidated entities $ 7,787 $ 714 $ 8,294 $ 1,751 We have investments in, and advances to, a number of joint ventures with related and unrelated parties to develop land and to develop housing communities, including for-sale residential homes. Some of these joint ventures develop land for the sole use of the venture participants, including us, and others develop land for sale to the joint venture participants and to unrelated builders. Our share of the joint venture profit relating to lots we purchase from the joint ventures is deferred until homes are delivered by us and title passes to a homebuyer.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	8. ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following (in thousands): As of June 30, 2015 As of December 31, 2014 Real estate development costs to complete $ 16,484 $ 24,222 Compensation and employee benefits 35,371 51,475 Self-insurance and warranty reserves 42,589 44,595 Interest payable 17,715 22,033 Property and sales taxes payable 10,971 12,808 Other accruals 50,897 45,423 Total accrued expenses and other liabilities $ 174,027 $ 200,556 Self-Insurance and Warranty Reserves – Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Reserve - beginning of period $ 42,956 $ 39,254 $ 44,595 $ 34,814 Additions to reserves 4,814 5,513 7,514 7,707 Costs and claims incurred (5,516 ) (5,047 ) (11,450 ) (7,060 ) Change in estimates to pre-existing reserves 335 567 1,930 4,826 Reserve - end of period $ 42,589 $ 40,287 $ 42,589 $ 40,287

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	9. DEBT (Dollars in thousands) As of June 30, As of December 31, 7.75% Senior Notes due 2020, unsecured, with $8.9 million of unamortized debt issuance costs and $3.4 million of unamortized bond premium at December 31, 2014 $ — $ 488,840 5.25% Senior Notes due 2021, unsecured, with $6.9 million and $7.5 million of unamortized debt issuance costs at June 30, 2015 and December 31, 2014, respectively 550,000 550,000 5.875% Senior Notes due 2023, unsecured, with $4.4 million of unamortized debt issuance costs at June 30, 2015 350,000 — 5.625% Senior Notes due 2024, unsecured, with $4.7 million and $4.9 million of unamortized debt issuance costs at June 30, 2015 and December 31, 2014, respectively 350,000 350,000 Senior Notes sub-total $ 1,250,000 $ 1,388,840 Loans payable and other borrowings 123,067 147,516 $500 million Revolving Credit Facility with $5.8 million and $5.6 million of unamortized debt issuance costs at June 30, 2015 and December 31, 2014, respectively 105,000 40,000 Mortgage warehouse borrowings 71,485 160,750 Total Senior Notes and bank financing $ 1,549,552 $ 1,737,106 2020 Senior Notes Our 7.75% Senior Notes due 2020 (the “2020 Senior Notes”) were redeemed in full on May 1, 2015 using the net proceeds from an issuance of new senior unsecured notes, 2023 Senior Notes (as defined below), together with cash on hand. See 2023 Senior Notes and Redemption of 2020 Senior Notes 2021 Senior Notes On April 16, 2013, we issued $550.0 million aggregate principal amount of 5.25% Senior Notes due 2021 (the “2021 Senior Notes”). The 2021 Senior Notes are unsecured and are not subject to registration rights. The net proceeds from the issuance of the 2021 Senior Notes were used to repay the outstanding balance under the Revolving Credit Facility and for general corporate purposes, including the purchase of additional land inventory. The 2021 Senior Notes are guaranteed by TMM Holdings, Taylor Morrison Holdings, Inc., Taylor Morrison Communities II, Inc. and the U.S. homebuilding subsidiaries of TMC (collectively, the “Guarantors”). The 2021 Senior Notes and the guarantees are senior unsecured obligations. The indenture for the 2021 Senior Notes contains covenants that limit (i) the making of investments, (ii) the payment of dividends and the redemption of equity and junior debt, (iii) the incurrence of additional indebtedness, (iv) asset dispositions, (v) mergers and similar corporate transactions, (vi) the incurrence of liens, (vii) the incurrence of prohibitions on payments and asset transfers among the issuers and restricted subsidiaries and (viii) transactions with affiliates, among others. The indenture governing the 2021 Senior Notes contains customary events of default. If we do not apply the net cash proceeds of certain asset sales within specified deadlines, we will be required to offer to repurchase the 2021 Senior Notes at par (plus accrued and unpaid interest) with such proceeds. There are no financial maintenance covenants for the 2021 Senior Notes. 2023 Senior Notes and Redemption of 2020 Senior Notes On April 16, 2015, we issued $350.0 million aggregate principal amount of 5.875% Senior Notes due 2023 (the “2023 Senior Notes”). The 2023 Senior Notes are unsecured and are not subject to registration rights. The net proceeds of the offering, together with cash on hand, were used to redeem the entire remaining $485.4 million aggregate principal amount of 2020 Senior Notes on May 1, 2015, at a redemption price of 105.813% of their aggregate principal amount, plus accrued and unpaid interest thereon to, but not including, the date of redemption. As a result of the redemption of the 2020 Senior Notes, we recorded a loss on extinguishment of debt of $33.3 million, which included the payment of the redemption premium and write off of net unamortized deferred financing fees. The 2023 Senior Notes mature on April 15, 2023. The 2023 Senior Notes are guaranteed by the same Guarantors that guarantee the 2021 and 2024 Senior Notes. The 2023 Senior Notes and the guarantees are senior unsecured obligations. The indenture governing the 2023 Senior Notes contains covenants that are substantially similar to those in the indenture governing the 2024 Senior Notes. The indenture governing the 2023 Senior Notes contains events of default that are similar to those contained in the indentures governing the 2021 and the 2024 Senior Notes. The change of control provisions in the indenture governing the 2023 Senior Notes are similar to those contained in the indenture governing the 2024 Senior Notes. Prior to January 15, 2023, the 2023 Senior Notes are redeemable at a price equal to 100% plus a “make-whole” premium for payments through January 15, 2023 (plus accrued and unpaid interest). Beginning January 15, 2023, the 2023 Senior Notes are redeemable at par (plus accrued and unpaid interest). There are no financial maintenance covenants for the 2023 Senior Notes. 2024 Senior Notes On March 5, 2014, we issued $350.0 million aggregate principal amount of 5.625% Senior Notes due 2024 (the “2024 Senior Notes”). The 2024 Senior Notes are unsecured and are not subject to registration rights. The net proceeds from the issuance of the 2024 Senior Notes were used to repay the outstanding balance under the Revolving Credit Facility and for general corporate purposes. The 2024 Senior Notes mature on March 1, 2024. The 2024 Senior Notes are guaranteed by the same Guarantors that guarantee the 2021 Senior Notes. The 2024 Senior Notes and the guarantees are senior unsecured obligations. The indenture governing the 2024 Senior Notes contains covenants that limit our ability to incur debt secured by liens and enter into certain sale and leaseback transactions. The indenture governing the 2024 Senior Notes contains events of default that are similar to those contained in the indenture governing the 2021 Senior Notes. The change of control provisions in the indenture governing the 2024 Senior Notes are similar to those contained in the indenture governing the 2021 Senior Notes, but a credit rating downgrade must occur in connection with the change of control before the repurchase offer requirement is triggered for the 2024 Senior Notes. Prior to December 1, 2023, the 2024 Senior Notes are redeemable at a price equal to 100% plus a “make-whole” premium for payments through December 1, 2023 (plus accrued and unpaid interest). Beginning on December 1, 2023, the 2024 Senior Notes are redeemable at par (plus accrued and unpaid interest). There are no financial maintenance covenants for the 2024 Senior Notes. Revolving Credit Facility The Revolving Credit Facility contains certain “springing” financial covenants, requiring TMM Holdings and its subsidiaries to comply with a certain maximum debt to capitalization ratio and a certain minimum consolidated tangible net worth test. The financial covenants would be in effect for any fiscal quarter during which any (a) loans under the Revolving Credit Facility are outstanding during the last day of such fiscal quarter or on more than five separate days during such fiscal quarter or (b) undrawn letters of credit (except to the extent cash collateralized) issued under the Revolving Credit Facility in an aggregate amount greater than $40.0 million or unreimbursed letters of credit issued under the Revolving Credit Facility are outstanding on the last day of such fiscal quarter or for more than five consecutive days during such fiscal quarter. For purposes of determining compliance with the financial covenants for any fiscal quarter, the Revolving Credit Facility provides that Taylor Morrison Communities, Inc. (“TMC” or the “Borrower”) may exercise an equity cure by issuing certain permitted securities for cash or otherwise recording cash contributions to its capital that will, upon the contribution of such cash to TMC, be included in the calculation of consolidated tangible net worth and consolidated total capitalization. The equity cure right is exercisable up to twice in any period of four consecutive fiscal quarters and up to five times overall. The maximum debt to total capitalization ratio is 0.60 to 1.00. The ratio as calculated by TMC at June 30, 2015 was 0.42 to 1.00. The minimum consolidated tangible net worth requirement was $1.4 billion at June 30, 2015. At June 30, 2015, the Borrower’s tangible net worth, as defined in the Revolving Credit Facility, was $1.8 billion. The Revolving Credit Facility contains certain restrictive covenants including limitations on incurrence of liens, dividends and other distributions, asset dispositions and investments in entities that are not guarantors, limitations on prepayment of subordinated indebtedness and limitations on fundamental changes. The Revolving Credit Facility contains customary events of default, subject to applicable grace periods, including for nonpayment of principal, interest or other amounts, violation of covenants, incorrectness of representations and warranties in any material respect, cross default and cross acceleration, bankruptcy, material monetary judgments, ERISA events with material adverse effect, actual or asserted invalidity of material guarantees and change of control. As of June 30, 2015, we were in compliance with all of the covenants under the Revolving Credit Facility. On April 24, 2015, we entered into Amendment No. 3 to the Revolving Credit Facility. Among other things, this amendment increased the amount available under the Revolving Credit Facility up to $500.0 million, extended the maturity of the Restated Revolving Credit Facility to April 12, 2019 and reduced certain margins payable thereunder. Mortgage Borrowings The following is a summary of our mortgage subsidiary borrowings (in thousands): As of June 30, 2015 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 32,391 $ 55,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica — 50,000 LIBOR + 2.75% August 19, 2015 Mortgage Loans J.P. Morgan 39,094 50,000 (2) September 28, 2015 Pledged Cash Total $ 71,485 $ 155,000 As of December 31, 2014 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 62,894 $ 85,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 11,430 50,000 LIBOR + 2.75% August 19, 2015 Mortgage Loans J.P. Morgan 86,426 100,000 (3) (2) September 28, 2015 Pledged Cash Total $ 160,750 $ 235,000 (1) The mortgage borrowings outstanding as of June 30, 2015 and December 31, 2014, are collateralized by $110.5 million and $191.1 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale and $0.6 million and $1.3 million, respectively, of restricted short-term investments which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets. (2) Interest under the J.P. Morgan agreement ranges from 2.50% plus 30-day LIBOR to 2.875% plus 30-day LIBOR or 0.25% (whichever is greater). (3) The warehouse facility with J.P. Morgan has a maximum credit line of $50.0 million. On December 12, 2014 the agreement was temporarily amended to increase the capacity from $50.0 million to $100.0 million. Effective January 23, 2015, the temporary increase expired. Loans Payable and Other Borrowings Loans payable and other borrowings as of June 30, 2015 and December 31, 2014 consist of amounts due to various land sellers and a seller carryback note from a prior year acquisition. Loans payable bear interest at rates that ranged from 0% to 8% at June 30, 2015 and December 31, 2014, and generally are secured by the land that was acquired with the loans. We impute interest for loans with no stated interest rates.

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures	10. FAIR VALUE DISCLOSURES We have adopted ASC Topic 820, Fair Value Measurements Level 1 Level 2 Level 3 The fair value of our mortgage loans held for sale is derived from negotiated rates with partner lending institutions. The fair value of our mortgage borrowings, loans payable and other borrowings and the borrowings under our Revolving Credit Facility approximate carrying value due to their short term nature and variable interest rate terms. The fair value of our Senior Notes is derived from quoted market prices by independent dealers in markets that are not active. The fair value of the contingent consideration liability related to previous acquisitions was estimated by discounting to present value the contingent payments expected to be made for each acquisition based on a probability-weighted scenario approach. As the measurement of the contingent consideration is based primarily on significant inputs not observable in the market, it represents a Level 3 measurement. The carrying value and fair value of our financial instruments are as follows (in thousands): June 30, 2015 December 31, 2014 Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 110,526 $ 110,526 $ 191,140 $ 191,140 Mortgage borrowings 2 71,485 71,485 160,750 160,750 Loans payable and other borrowings 2 123,067 123,067 147,516 147,516 7.75% Senior Notes due 2020 2 — — 488,840 518,170 5.25% Senior Notes due 2021 2 550,000 541,750 550,000 539,000 5.875% Senior Notes due 2023 2 350,000 348,250 — 5.625% Senior Notes due 2024 2 350,000 338,625 350,000 336,000 Revolving Credit Facility 2 105,000 105,000 40,000 40,000 Contingent consideration liability 3 22,586 22,586 17,932 17,932

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	11. INCOME TAXES The effective tax rate for the three and six months ended June 30, 2015 and 2014 was based on the federal statutory income tax rates, affected by state income taxes, changes in deferred tax assets, changes in valuation allowances, and preferential treatment of deductions relating to homebuilding activities. As of June 30, 2015 and December 31, 2014, cumulative gross unrecognized tax benefits were $2.4 million and all unrecognized tax benefits, if recognized, would affect the effective tax rate. These amounts are included in income taxes payable in the accompanying Condensed Consolidated Balance Sheets at June 30, 2015 and December 31, 2014. None of the unrecognized tax benefits are expected to reverse in the next 12 months. In accordance with ASC Topic 740-10, Income Taxes, we assess whether a valuation allowance should be established based on the consideration of available evidence using a “more likely than not” standard with significant weight being given to evidence that can be objectively verified. This assessment includes a review of both positive and negative evidence including our earnings history, forecasts and future profitability, assessment of the industry, the length of statutory carry-forward periods, experiences of utilizing NOL’s and built-in losses, and tax planning alternatives.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	12. STOCKHOLDERS’ EQUITY Capital Stock — The components and respective voting power of our outstanding Common Stock at June 30, 2015 are as follows: Shares Percentage Class A Common Stock 33,079,677 27 % Class B Common Stock 89,200,063 73 Total 122,279,740 100 %

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	13. STOCK BASED COMPENSATION Equity-Based Compensation In April 2013, we adopted the Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan (the “Plan”). The Plan provides for the grant of stock options, restricted stock units and other awards based on our common stock. As of June 30, 2015 we had an aggregate of 5,803,452 shares of common stock available for future grants under the Plan. The following table provides information regarding the amount and components of stock-based compensation expense, which is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Restricted Stock Units (RSUs) (1) $ 818 $ 316 $ 1,426 $ 608 Stock options 828 725 2,798 1,401 New TMM Units 393 434 912 811 Total stock compensation (2) $ 2,039 $ 1,475 $ 5,136 $ 2,820 (1) Includes compensation expense related to restricted stock units and performance based restricted stock units. (2) Included in the table above for the six months ended June 30, 2015 is $1.5 million of stock compensation expense related to the acceleration of vesting for equity awards held by Monarch employees. The sale of Monarch triggered a change in control provision provided for in the respective award agreements and Plan document. The expense related to the acceleration of awards is included in transaction expenses from discontinued operations in the accompanying Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2015. At June 30, 2015 and December 31, 2014, the aggregate unamortized value of all outstanding stock-based compensation awards was approximately $21.4 million and $16.0 million, respectively. Restricted Stock Shares Weighted Average Value Balance at December 31, 2014 185,679 $ 24.19 Granted 439,563 18.44 Vested (13,307 ) 22.98 Forfeited (4,856 ) 24.30 Balance at June 30, 2015 607,079 $ 20.05 During the three and six months ended June 30, 2015, we issued non-performance RSU awards and performance-based RSU awards to certain employees of the Company. The new non-performance RSU awards vest with respect to 33.3% on the second, third and fourth anniversaries of the grant date. The performance-based RSU awards will cliff-vest based on the achievement of certain performance goals (set by the Company in the year of grant) over a three-year performance period, subject to the employee’s continued employment through the last date of the performance period and will be settled in shares of our Class A common stock. The number of shares underlying the performance-based RSUs that will be issued to the recipients may range from the target award amount depending on actual performance achieved as compared to the target. Stock Options – Shares Weighted Outstanding at December 31, 2014 1,325,029 $ 22.35 Granted 393,123 18.76 Exercised — — Cancelled/Forfeited (189,250 ) 25.07 Outstanding at June 30, 2015 1,528,902 $ 21.09 Options exercisable at June 30, 2015 266,883 $ 22.01 During the six months ended June 30, 2015, we issued stock options to certain employees. These stock options granted vest 25% on the first four anniversaries of the grant date. New TMM Units – Pursuant to the Reorganization Transactions the time-vesting Class M Units in TMM Holdings were exchanged for New TMM Units with vesting terms substantially the same as the Class M Units surrendered for exchange. One New TMM Unit together with a corresponding share of Class B Common Stock is exchangeable for one share of Class A Common Stock. The shares of Class B Common Stock/New TMM Units outstanding as of June 30, 2015 are as follows: Shares/New Weighted Balance at December 31, 2014 1,431,721 $ 5.11 Granted — — Exchanges (1) (8,330 ) 5.56 Forfeited (2) (19,023 ) 4.23 Balance at June 30, 2015 1,404,368 $ 5.12 (1) Exchanges during the period represent the exchange of a vested New TMM Unit along with the corresponding share of Class B Common Stock for a newly issued share of Class A Common Stock. (2) Awards forfeited during the period represent the unvested portion of New TMM Unit awards for employees who have terminated employment with the Company and for which the New TMM Unit and the corresponding Class B Share have been cancelled.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related-Party Transactions	14. RELATED-PARTY TRANSACTIONS From time to time, we may engage in transactions with entities or persons that are affiliated with us or one or more of the Principal Equityholders. There were $16.8 million in real estate inventory acquisitions from such affiliates in the three and six months ended June 30, 2015 and $15.3 million and $31.0 million in real estate inventory acquisitions from such affiliates in the three and six months ended June 30, 2014, respectively. Such real estate transactions with related parties are in the normal course of operations and are executed at arm’s length, as they are entered into at terms comparable to those with unrelated third parties. In May 2015, one of our subsidiaries formed a joint venture, Pacific Point Development Partners LLC (“PPDP”), with affiliates of Oaktree Capital Management, L.P. and DMB Pacific Ventures to acquire and develop Pacifica San Juan, a coastal residential development in San Juan Capistrano, California. The acquisition of the Pacifica San Juan site from Lehman Brothers Holdings Inc., occurred on May 19, 2015. Our subsidiary has made an initial capital investment of approximately $16.8 million in PPDP and is a minority capital partner and also the operating partner responsible for land development and homebuilding on the Pacifica San Juan site.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income	15. ACCUMULATED OTHER COMPREHENSIVE INCOME The table below provides the components of accumulated other comprehensive income (loss) for the six months ended June 30, 2015 (in thousands): Total Post- Foreign Non-controlling Interest - Principal Total Balance, beginning of period $ 692 $ (52,148 ) $ 40,546 $ (10,910 ) Other comprehensive income (loss) before reclassifications 269 (27,214 ) — (26,945 ) Gross amounts reclassified from accumulated other comprehensive income (loss) 1,488 — — 1,488 Foreign currency translation 518 — (518 ) — Income tax (expense) benefit — — — — Other comprehensive income (loss), net of tax $ 2,275 $ (27,214 ) $ (518 ) $ (25,457 ) Gross amounts reclassified within accumulated other comprehensive income (loss) (2,289 ) — 20,810 18,521 Balance, end of period $ 678 $ (79,362 ) $ 60,838 $ (17,846 ) Reclassifications for the amortization of the employee retirement plans are included in selling, general and administrative expense in the accompanying Condensed Consolidated Statements of Operations.

Operating and Reporting Segment

Operating and Reporting Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Operating and Reporting Segments	16. OPERATING AND REPORTING SEGMENTS We have twelve homebuilding operating divisions which are aggregated into two reportable homebuilding segments. These segments are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer service. We aggregate our homebuilding operating segments into reporting segments based on similar long-term economic characteristics. We also have a mortgage and financial services segment. We have no inter-segment sales as all sales are to external customers. Our reporting segments are as follows: East North Florida, West Florida, Houston, which includes a Taylor Morrison division and a Darling Homes division, Dallas, Austin, and Atlanta West Denver, Phoenix, Bay Area, Sacramento, and Southern California Mortgage Operations Mortgage and Financial Services (TMHF) Management primarily evaluates segment performance based on GAAP gross margin, defined as homebuilding and land revenue less cost of home construction, commissions and other sales costs, land development and other land sales costs and other costs incurred by, or allocated to each segment, including impairments. Operating results for each segment may not be indicative of the results for such segment had it been an independent, stand-alone entity. Segment information, excluding discontinued operations, is as follows (in thousands): Three Months Ended June 30, 2015 East West Mortgage Corporate Total Total revenues $ 445,131 $ 245,999 $ 9,843 $ — $ 700,973 Gross margin 91,077 41,835 3,747 — 136,659 Selling, general and administrative expenses (38,453 ) (17,193 ) — (15,580 ) (71,226 ) Equity in income/(loss) of unconsolidated entities 712 (242 ) 755 — 1,225 Interest and other (expense) income (4,340 ) 813 — 146 (3,381 ) Loss on extinguishment of debt — — — (33,317 ) (33,317 ) Income from continuing operations before income taxes $ 48,996 $ 25,213 $ 4,502 $ (48,751 ) $ 29,960 Three Months Ended June 30, 2014 East West Mortgage Corporate Total Total revenues $ 349,396 $ 239,437 $ 8,175 $ — $ 597,008 Gross margin 76,343 47,482 3,527 — 127,352 Selling, general and administrative expenses (32,159 ) (15,374 ) — (11,237 ) (58,770 ) Equity in income of unconsolidated entities 572 198 483 — 1,253 Interest and other (expense) income (4,725 ) 14 — 384 (4,327 ) Income from continuing operations before income taxes $ 40,031 $ 32,320 $ 4,010 $ (10,853 ) $ 65,508 Six Months Ended June 30, 2015 East West Mortgage Corporate Total Total revenues $ 750,886 $ 442,025 $ 17,478 $ — $ 1,210,389 Gross margin 152,541 72,381 6,320 — 231,242 Selling, general and administrative expenses (68,833 ) (30,812 ) — (28,505 ) (128,150 ) Equity in income/(loss) of unconsolidated entities 855 (422 ) 1,094 — 1,527 Interest and other (expense) income (8,048 ) 529 — (1,581 ) (9,100 ) Loss on extinguishment of debt — — — (33,317 ) (33,317 ) Gain on foreign currency forward — — — 29,983 29,983 Income from continuing operations before income taxes $ 76,515 $ 41,676 $ 7,414 $ (33,420 ) $ 92,185 Six Months Ended June 30, 2014 East West Mortgage Corporate Total Total revenues $ 622,423 $ 430,623 $ 14,437 $ — $ 1,067,483 Gross margin 136,229 88,651 5,853 — 230,733 Selling, general and administrative expenses (58,905 ) (29,860 ) — (22,630 ) (111,395 ) Equity in income of unconsolidated entities 871 477 889 — 2,237 Interest and other (expense) income (8,163 ) (40 ) — 92 (8,111 ) Income from continuing operations before income taxes $ 70,032 $ 59,228 $ 6,742 $ (22,538 ) $ 113,464 As of June 30, 2015 East West Mortgage Corporate Total Real estate inventory and land deposits $ 1,501,599 $ 1,481,550 $ — $ — $ 2,983,149 Investments in unconsolidated entities 54,589 72,100 1,784 — 128,473 Other assets 208,776 54,021 121,826 383,139 767,762 Total assets $ 1,764,964 $ 1,607,671 $ 123,610 $ 383,139 $ 3,879,384 As of December 31, 2014 East West Mortgage Corporate Assets of Total Real estate inventory and land deposits $ 1,275,192 $ 1,277,673 $ — $ — $ — $ 2,552,865 Investments in unconsolidated entities 57,138 51,909 1,244 — — 110,291 Other assets 166,854 37,989 204,685 483,984 576,445 1,469,957 Total assets $ 1,499,184 $ 1,367,571 $ 205,929 $ 483,984 $ 576,445 $ 4,133,113

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. COMMITMENTS AND CONTINGENCIES Letters of Credit and Surety Bonds Legal Proceedings

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	18. SUBSEQUENT EVENTS Orleans Homes On July 21, 2015 we completed the acquisition of three divisions of Orleans Homes for approximately $166 million using a combination of cash on hand and borrowings on our Revolving Credit Facility. Approximately 2,100 owned and controlled lots were purchased from divisions in Charlotte, Raleigh and Chicago. The acquired Orleans business will transition to the Taylor Morrison brand in the future. In accordance with Regulation S-X: Rule 1-02, we have performed various significance tests to ensure the acquisition of Orleans Homes does not require proforma or stand-alone financial statement disclosures. We have not completed the initial purchase price allocation with respect to the acquisition of Orleans Homes.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation Unless otherwise stated, amounts are shown in U.S. dollars. Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date, and revenues and expenses are translated at average rates of exchange prevailing during the period. Translation adjustments resulting from this process are recorded to accumulated other comprehensive income (loss) in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Stockholders’ Equity.
Discontinued Operations	Discontinued Operations – Note 4 – Discontinued Operations
Non-controlling interests	Non-controlling interests
Purchase Price Allocation and Related Acquisition Accounting	Purchase Price Allocation and Related Acquisition Accounting , Business Combinations We determined the fair value of real estate inventory on a community-by-community basis primarily using the sales comparison and income approaches. The income approach derives a value indication for income-producing real property by converting anticipated benefits, such as discounted cash flow, into property value. This approach was used exclusively for finished lots. The income approach using discounted cash flows was also used to value lot option contracts acquired. The sales comparison approach was used for all inventory in process. These estimated cash flows are significantly affected by the discount rate, estimates related to expected average selling prices and sales incentives, expected sales paces and cancellation rates, expected land development and construction timelines, and anticipated land development, construction, and overhead costs. Such estimates must be made for each individual community and may vary significantly between communities. The Company has completed a preliminary allocation of purchase price as of June 30, 2015 and expects to finalize the allocation within one year from the date of the acquisition. The following is a summary of the fair value of assets acquired and liabilities created as of June 30, 2015 (in thousands): Financial Statement Caption Total Real estate inventory $ 54,819 Prepaid expenses and other assets 1,301 Property and equipment 395 Goodwill 9,125 Total assets 65,640 Less contingent consideration (3,200 ) Purchase price, net $ 62,440 No other intangible assets were acquired as part of the business combination.
Use of Estimates	Use of Estimates
Non-controlling Interests - Principal Equityholders	Non-controlling Interests – Principal Equityholders –
Stock Based Compensation	Stock Based Compensation Compensation – Stock Compensation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Created	The following is a summary of the fair value of assets acquired and liabilities created as of June 30, 2015 (in thousands): Financial Statement Caption Total Real estate inventory $ 54,819 Prepaid expenses and other assets 1,301 Property and equipment 395 Goodwill 9,125 Total assets 65,640 Less contingent consideration (3,200 ) Purchase price, net $ 62,440

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Summary of Earnings Per Common Share	Diluted earnings per share gives effect to the potential dilution that could occur if all shares of Class B Common Stock and their corresponding New TMM Units were exchanged for Class A Common Stock and if equity awards to issue common stock that are dilutive were exercised: Three Months Ended Six Months Ended Numerator: 2015 2014 2015 2014 Net income available to TMHC – basic $ 5,077 $ 14,816 $ 31,039 $ 25,748 Income from discontinued operations, net of tax — 10,096 56,662 14,392 Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders — (7,380 ) (41,381 ) (10,522 ) Net income from discontinued operations – basic $ — $ 2,716 $ 15,281 $ 3,870 Net income from continuing operations – basic $ 5,077 $ 12,100 $ 15,758 $ 21,878 Net income from continuing operations – basic $ 5,077 $ 12,100 $ 15,758 $ 21,878 Net income from continuing operations attributable to non-controlling interest – Principal Equityholders 14,024 33,081 43,157 60,186 Loss fully attributable to public holding company 110 44 229 244 Net income from continuing operations – diluted $ 19,211 $ 45,225 $ 59,144 $ 82,308 Net income from discontinued operations – diluted $ — $ 10,096 $ 56,662 $ 14,392 Denominator: Weighted average shares – basic (Class A) 33,076 32,875 33,071 32,866 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 89,200 89,434 89,203 89,443 Restricted stock units 133 45 108 40 Stock Options — — — — Weighted average shares – diluted 122,409 122,354 122,382 122,349 Earnings per common share – basic: Income from continuing operations $ 0.15 $ 0.37 $ 0.48 $ 0.66 Income from discontinued operations, nets of tax $ — $ 0.08 $ 0.46 $ 0.12 Net income available to Taylor Morrison Home Corporation $ 0.15 $ 0.45 $ 0.94 $ 0.78 Earnings per common share – diluted: Income from continuing operations $ 0.15 $ 0.37 $ 0.48 $ 0.66 Income from discontinued operations, net of tax $ — $ 0.08 $ 0.46 $ 0.12 Net income available to Taylor Morrison Home Corporation $ 0.15 $ 0.45 $ 0.94 $ 0.78

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations, Balance Sheet	The components of assets and liabilities of discontinued operations at December 31, 2014 are as follows (in thousands): Cash and cash equivalents $ 227,988 Restricted cash 11,474 Real estate inventory 149,087 Land deposits 7,547 Loans receivable 40,808 Tax indemnification receivable 5,194 Prepaid expenses and other assets, net 11,197 Other receivables, net 1,984 Investments in unconsolidated entities 111,887 Deferred tax assets, net 3,233 Property and equipment, net 2,546 Intangible assets, net 3,500 Assets of discontinued operations $ 576,445 Accounts payable $ 14,438 Accrued expenses and other liabilities 44,554 Income taxes payable 8,076 Customer deposits 11,166 Loans payable and other borrowings 90,331 Liabilities of discontinued operations $ 168,565

Real Estate Inventory and Lan31

Real Estate Inventory and Land Deposits (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of June 30, 2015 As of December 31, 2014 Operating communities, including capitalized interest $ 2,726,828 $ 2,217,067 Real estate held for development or held for sale 217,472 294,556 Total owned inventory 2,944,300 2,511,623 Real estate not owned under option contracts 2,594 6,698 Total real estate inventory $ 2,946,894 $ 2,518,321
Schedule of Development Status of Land Inventory	The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2015 As of December 31, 2014 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 8,599 $ 385,523 9,825 $ 464,882 Partially developed 8,819 537,531 8,680 654,759 Finished 11,309 1,235,565 8,727 787,033 Long-term strategic assets 3,265 14,153 3,564 27,993 Total 31,992 $ 2,172,772 30,796 $ 1,934,667
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Interest capitalized, incurred, expensed and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Interest capitalized - beginning of period $ 103,892 $ 79,538 $ 94,880 $ 71,263 Interest incurred 23,268 22,686 48,307 40,451 Interest amortized to cost of home closings (20,690 ) (14,998 ) (36,717 ) (24,488 ) Interest capitalized - end of period $ 106,470 $ 87,226 $ 106,470 $ 87,226

Investments in Unconsolidated32

Investments in Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information of Unconsolidated Entities Accounted by Equity Method	Summarized, unaudited financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands): As of June 30, 2015 As of December 31, 2014 Assets: Real estate inventory $ 536,143 $ 396,858 Other assets 109,904 59,963 Total assets $ 646,047 $ 456,821 Liabilities and owners’ equity: Debt $ 223,065 $ 129,561 Other liabilities 9,801 8,870 Total liabilities 232,866 $ 138,431 Owners’ equity: TMHC 128,473 110,291 Others 284,708 208,099 Total owners’ equity 413,181 318,390 Total liabilities and owners’ equity $ 646,047 $ 456,821 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues $ 15,777 $ 7,033 $ 17,473 $ 8,663 Costs and expenses (12,859 ) (3,827 ) (14,030 ) (4,054 ) Income of unconsolidated entities $ 2,918 $ 3,206 $ 3,443 $ 4,609 Company’s share in income of unconsolidated entities $ 1,225 $ 1,253 $ 1,527 $ 2,237 Distributions of earnings from unconsolidated entities $ 7,787 $ 714 $ 8,294 $ 1,751

Accrued Expenses and Other Li33

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): As of June 30, 2015 As of December 31, 2014 Real estate development costs to complete $ 16,484 $ 24,222 Compensation and employee benefits 35,371 51,475 Self-insurance and warranty reserves 42,589 44,595 Interest payable 17,715 22,033 Property and sales taxes payable 10,971 12,808 Other accruals 50,897 45,423 Total accrued expenses and other liabilities $ 174,027 $ 200,556
Summary of Changes in Reserves	Self-Insurance and Warranty Reserves – Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Reserve - beginning of period $ 42,956 $ 39,254 $ 44,595 $ 34,814 Additions to reserves 4,814 5,513 7,514 7,707 Costs and claims incurred (5,516 ) (5,047 ) (11,450 ) (7,060 ) Change in estimates to pre-existing reserves 335 567 1,930 4,826 Reserve - end of period $ 42,589 $ 40,287 $ 42,589 $ 40,287

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Senior Notes and Other Borrowings	(Dollars in thousands) As of June 30, As of December 31, 7.75% Senior Notes due 2020, unsecured, with $8.9 million of unamortized debt issuance costs and $3.4 million of unamortized bond premium at December 31, 2014 $ — $ 488,840 5.25% Senior Notes due 2021, unsecured, with $6.9 million and $7.5 million of unamortized debt issuance costs at June 30, 2015 and December 31, 2014, respectively 550,000 550,000 5.875% Senior Notes due 2023, unsecured, with $4.4 million of unamortized debt issuance costs at June 30, 2015 350,000 — 5.625% Senior Notes due 2024, unsecured, with $4.7 million and $4.9 million of unamortized debt issuance costs at June 30, 2015 and December 31, 2014, respectively 350,000 350,000 Senior Notes sub-total $ 1,250,000 $ 1,388,840 Loans payable and other borrowings 123,067 147,516 $500 million Revolving Credit Facility with $5.8 million and $5.6 million of unamortized debt issuance costs at June 30, 2015 and December 31, 2014, respectively 105,000 40,000 Mortgage warehouse borrowings 71,485 160,750 Total Senior Notes and bank financing $ 1,549,552 $ 1,737,106
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage subsidiary borrowings (in thousands): As of June 30, 2015 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 32,391 $ 55,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica — 50,000 LIBOR + 2.75% August 19, 2015 Mortgage Loans J.P. Morgan 39,094 50,000 (2) September 28, 2015 Pledged Cash Total $ 71,485 $ 155,000 As of December 31, 2014 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 62,894 $ 85,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 11,430 50,000 LIBOR + 2.75% August 19, 2015 Mortgage Loans J.P. Morgan 86,426 100,000 (3) (2) September 28, 2015 Pledged Cash Total $ 160,750 $ 235,000 (1) The mortgage borrowings outstanding as of June 30, 2015 and December 31, 2014, are collateralized by $110.5 million and $191.1 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale and $0.6 million and $1.3 million, respectively, of restricted short-term investments which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets. (2) Interest under the J.P. Morgan agreement ranges from 2.50% plus 30-day LIBOR to 2.875% plus 30-day LIBOR or 0.25% (whichever is greater). (3) The warehouse facility with J.P. Morgan has a maximum credit line of $50.0 million. On December 12, 2014 the agreement was temporarily amended to increase the capacity from $50.0 million to $100.0 million. Effective January 23, 2015, the temporary increase expired.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of our financial instruments are as follows (in thousands): June 30, 2015 December 31, 2014 Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 110,526 $ 110,526 $ 191,140 $ 191,140 Mortgage borrowings 2 71,485 71,485 160,750 160,750 Loans payable and other borrowings 2 123,067 123,067 147,516 147,516 7.75% Senior Notes due 2020 2 — — 488,840 518,170 5.25% Senior Notes due 2021 2 550,000 541,750 550,000 539,000 5.875% Senior Notes due 2023 2 350,000 348,250 — 5.625% Senior Notes due 2024 2 350,000 338,625 350,000 336,000 Revolving Credit Facility 2 105,000 105,000 40,000 40,000 Contingent consideration liability 3 22,586 22,586 17,932 17,932

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Components and Voting Power of Outstanding Common Stock	The components and respective voting power of our outstanding Common Stock at June 30, 2015 are as follows: Shares Percentage Class A Common Stock 33,079,677 27 % Class B Common Stock 89,200,063 73 Total 122,279,740 100 %

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Summary of Stock-Based Compensation Expense	The following table provides information regarding the amount and components of stock-based compensation expense, which is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Restricted Stock Units (RSUs) (1) $ 818 $ 316 $ 1,426 $ 608 Stock options 828 725 2,798 1,401 New TMM Units 393 434 912 811 Total stock compensation (2) $ 2,039 $ 1,475 $ 5,136 $ 2,820 (1) Includes compensation expense related to restricted stock units and performance based restricted stock units. (2) Included in the table above for the six months ended June 30, 2015 is $1.5 million of stock compensation expense related to the acceleration of vesting for equity awards held by Monarch employees. The sale of Monarch triggered a change in control provision provided for in the respective award agreements and Plan document. The expense related to the acceleration of awards is included in transaction expenses from discontinued operations in the accompanying Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2015.
Summary of Stock Option Activity	the following table summarizes the stock option activity for the six months ended June 30, 2015: Shares Weighted Outstanding at December 31, 2014 1,325,029 $ 22.35 Granted 393,123 18.76 Exercised — — Cancelled/Forfeited (189,250 ) 25.07 Outstanding at June 30, 2015 1,528,902 $ 21.09 Options exercisable at June 30, 2015 266,883 $ 22.01
Restricted Stock Units and Performance Based Restricted Stock Units [Member]
Summary of Activity of Stock Units	the following table summarizes the restricted stock unit and performance-based restricted stock unit activity for the period: Shares Weighted Average Value Balance at December 31, 2014 185,679 $ 24.19 Granted 439,563 18.44 Vested (13,307 ) 22.98 Forfeited (4,856 ) 24.30 Balance at June 30, 2015 607,079 $ 20.05
Class B Common Stock/New TMM Units [Member]
Summary of Activity of Stock Units	The shares of Class B Common Stock/New TMM Units outstanding as of June 30, 2015 are as follows: Shares/New Weighted Balance at December 31, 2014 1,431,721 $ 5.11 Granted — — Exchanges (1) (8,330 ) 5.56 Forfeited (2) (19,023 ) 4.23 Balance at June 30, 2015 1,404,368 $ 5.12 (1) Exchanges during the period represent the exchange of a vested New TMM Unit along with the corresponding share of Class B Common Stock for a newly issued share of Class A Common Stock. (2) Awards forfeited during the period represent the unvested portion of New TMM Unit awards for employees who have terminated employment with the Company and for which the New TMM Unit and the corresponding Class B Share have been cancelled.

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The table below provides the components of accumulated other comprehensive income (loss) for the six months ended June 30, 2015 (in thousands): Total Post- Foreign Non-controlling Interest - Principal Total Balance, beginning of period $ 692 $ (52,148 ) $ 40,546 $ (10,910 ) Other comprehensive income (loss) before reclassifications 269 (27,214 ) — (26,945 ) Gross amounts reclassified from accumulated other comprehensive income (loss) 1,488 — — 1,488 Foreign currency translation 518 — (518 ) — Income tax (expense) benefit — — — — Other comprehensive income (loss), net of tax $ 2,275 $ (27,214 ) $ (518 ) $ (25,457 ) Gross amounts reclassified within accumulated other comprehensive income (loss) (2,289 ) — 20,810 18,521 Balance, end of period $ 678 $ (79,362 ) $ 60,838 $ (17,846 )

Operating and Reporting Segme39

Operating and Reporting Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information Excluding Discontinued Operations	Segment information, excluding discontinued operations, is as follows (in thousands): Three Months Ended June 30, 2015 East West Mortgage Corporate Total Total revenues $ 445,131 $ 245,999 $ 9,843 $ — $ 700,973 Gross margin 91,077 41,835 3,747 — 136,659 Selling, general and administrative expenses (38,453 ) (17,193 ) — (15,580 ) (71,226 ) Equity in income/(loss) of unconsolidated entities 712 (242 ) 755 — 1,225 Interest and other (expense) income (4,340 ) 813 — 146 (3,381 ) Loss on extinguishment of debt — — — (33,317 ) (33,317 ) Income from continuing operations before income taxes $ 48,996 $ 25,213 $ 4,502 $ (48,751 ) $ 29,960 Three Months Ended June 30, 2014 East West Mortgage Corporate Total Total revenues $ 349,396 $ 239,437 $ 8,175 $ — $ 597,008 Gross margin 76,343 47,482 3,527 — 127,352 Selling, general and administrative expenses (32,159 ) (15,374 ) — (11,237 ) (58,770 ) Equity in income of unconsolidated entities 572 198 483 — 1,253 Interest and other (expense) income (4,725 ) 14 — 384 (4,327 ) Income from continuing operations before income taxes $ 40,031 $ 32,320 $ 4,010 $ (10,853 ) $ 65,508 Six Months Ended June 30, 2015 East West Mortgage Corporate Total Total revenues $ 750,886 $ 442,025 $ 17,478 $ — $ 1,210,389 Gross margin 152,541 72,381 6,320 — 231,242 Selling, general and administrative expenses (68,833 ) (30,812 ) — (28,505 ) (128,150 ) Equity in income/(loss) of unconsolidated entities 855 (422 ) 1,094 — 1,527 Interest and other (expense) income (8,048 ) 529 — (1,581 ) (9,100 ) Loss on extinguishment of debt — — — (33,317 ) (33,317 ) Gain on foreign currency forward — — — 29,983 29,983 Income from continuing operations before income taxes $ 76,515 $ 41,676 $ 7,414 $ (33,420 ) $ 92,185 Six Months Ended June 30, 2014 East West Mortgage Corporate Total Total revenues $ 622,423 $ 430,623 $ 14,437 $ — $ 1,067,483 Gross margin 136,229 88,651 5,853 — 230,733 Selling, general and administrative expenses (58,905 ) (29,860 ) — (22,630 ) (111,395 ) Equity in income of unconsolidated entities 871 477 889 — 2,237 Interest and other (expense) income (8,163 ) (40 ) — 92 (8,111 ) Income from continuing operations before income taxes $ 70,032 $ 59,228 $ 6,742 $ (22,538 ) $ 113,464
Assets from Segment	As of June 30, 2015 East West Mortgage Corporate Total Real estate inventory and land deposits $ 1,501,599 $ 1,481,550 $ — $ — $ 2,983,149 Investments in unconsolidated entities 54,589 72,100 1,784 — 128,473 Other assets 208,776 54,021 121,826 383,139 767,762 Total assets $ 1,764,964 $ 1,607,671 $ 123,610 $ 383,139 $ 3,879,384 As of December 31, 2014 East West Mortgage Corporate Assets of Total Real estate inventory and land deposits $ 1,275,192 $ 1,277,673 $ — $ — $ — $ 2,552,865 Investments in unconsolidated entities 57,138 51,909 1,244 — — 110,291 Other assets 166,854 37,989 204,685 483,984 576,445 1,469,957 Total assets $ 1,499,184 $ 1,367,571 $ 205,929 $ 483,984 $ 576,445 $ 4,133,113

Business - Additional Informati

Business - Additional Information (Detail) $ / shares in Units, $ in Thousands	Apr. 30, 2015USD ($)	Jun. 30, 2015USD ($)SegmentsOperationsSegment$ / shares	Dec. 31, 2014$ / shares	Apr. 12, 2013$ / shares
Reportable segments | Segments		3
Principal Equityholders owned percentage		100.00%
Payments to acquire business		$ 62,440
JEH Homes [Member]
Payments to acquire business	$ 62,400
Mortgage [Member]
Reportable segments | Operations		1
Homebuilding [Member]
Reportable segments | Segment		2
Operating divisions | Operations		12
Common Class A [Member]
Common stock, par value | $ / shares		$ 0.00001	$ 0.00001	$ 0.00001
Principal Equityholders owned percentage		27.00%
Common Class B [Member]
Common stock, par value | $ / shares		$ 0.00001	$ 0.00001
Principal Equityholders owned percentage		73.00%	73.00%

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Apr. 30, 2015	Jun. 30, 2015
Significant Accounting Policies [Line Items]
Business acquisition, purchase price		$ 62,440,000
Common stock exchange agreement		One share of Class B Common Stock, together with one New TMM Unit, is exchangeable into one share of our Class A Common Stock in accordance with the Exchange Agreement, dated as of April 9, 2013, among the Company, New TMM and the holders of Class B Common Stock and New TMM Units.
JEH Homes [Member]
Significant Accounting Policies [Line Items]
Business acquisition, purchase price	$ 62,400,000
Acquisition date		Apr. 30, 2015
Cash and cash equivalents acquired		$ 0
Liabilities assumed		0
Intangible assets acquired		$ 0

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Summary of Fair Value of Assets Acquired and Liabilities Created (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 32,500	$ 23,375
JEH Homes [Member]
Business Acquisition [Line Items]
Real estate inventory	54,819
Prepaid expenses and other assets	1,301
Property and equipment	395
Goodwill	9,125
Total assets	65,640
Less contingent consideration	(3,200)
Purchase price, net	$ 62,440

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Net income available to TMHC - basic	$ 5,077	$ 14,816	$ 31,039	$ 25,748
Income from discontinued operations, net of tax		10,096	56,662	14,392
Income from discontinued operations, net of tax attributable to non-controlling interest - Principal Equityholders		(7,380)	(41,381)	(10,522)
Net income from discontinued operations - basic		2,716	15,281	3,870
Net income from continuing operations - basic	5,077	12,100	15,758	21,878
Net income from continuing operations - basic	5,077	12,100	15,758	21,878
Net income from continuing operations attributable to non-controlling interest - Principal Equityholders	14,024	33,081	43,157	60,186
Loss fully attributable to public holding company	110	44	229	244
Net income from continuing operations - diluted	$ 19,211	45,225	59,144	82,308
Net income from discontinued operations - diluted		$ 10,096	$ 56,662	$ 14,392
Denominator:
Weighted average shares - basic (Class A)	33,076	32,875	33,071	32,866
Weighted average shares - Principal Equityholders' non-controlling interest (Class B)	89,200	89,434	89,203	89,443
Restricted stock units	133	45	108	40
Stock Options	0	0	0	0
Weighted average shares - diluted	122,409	122,354	122,382	122,349
Earnings per common share - basic:
Income from continuing operations	$ 0.15	$ 0.37	$ 0.48	$ 0.66
Income from discontinued operations, nets of tax		0.08	0.46	0.12
Net income available to Taylor Morrison Home Corporation	0.15	0.45	0.94	0.78
Earnings per common share - diluted:
Income from continuing operations	0.15	0.37	0.48	0.66
Income from discontinued operations, net of tax		0.08	0.46	0.12
Net income available to Taylor Morrison Home Corporation	$ 0.15	$ 0.45	$ 0.94	$ 0.78

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stock options and time-vesting RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of earnings per share	1,580,186	1,546,380	1,264,137	1,252,237

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Revenues related to Monarch	$ 0	$ 60,800,000	$ 0	$ 109,500,000

Discontinued Operations - Sched

Discontinued Operations - Schedule of Discontinued Operations, Balance Sheet (Detail) $ in Thousands	Dec. 31, 2014USD ($)
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Cash and cash equivalents	$ 227,988
Restricted cash	11,474
Real estate inventory	149,087
Land deposits	7,547
Loans receivable	40,808
Tax indemnification receivable	5,194
Prepaid expenses and other assets, net	11,197
Other receivables, net	1,984
Investments in unconsolidated entities	111,887
Deferred tax assets, net	3,233
Property and equipment, net	2,546
Intangible assets, net	3,500
Assets of discontinued operations	576,445
Accounts payable	14,438
Accrued expenses and other liabilities	44,554
Income taxes payable	8,076
Customer deposits	11,166
Loans payable and other borrowings	90,331
Liabilities of discontinued operations	$ 168,565

Derivative Financial Instrume47

Derivative Financial Instrument - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Gain on foreign currency forward	$ 29,983,000
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Aggregate derivative notional amount		$ 471,200,000
Derivative financial instrument final settlement date	Jan. 30, 2015

Real Estate Inventory and Lan48

Real Estate Inventory and Land Deposits - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Lot	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Lot	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)Lot
Real Estate [Abstract]
Asset impairment charges	$ 0	$ 0	$ 0	$ 0
Right to purchase lots of land option | Lot	6,871		6,871		5,372
Aggregate purchase price	$ 549,200,000		$ 549,200,000		$ 323,500,000
Non-refundable option deposits	36,300,000		36,300,000		$ 34,500,000
Impairment of option deposits and capitalized pre-acquisition costs	$ 0	$ 0	$ 0	$ 0

Real Estate Inventory and Lan49

Real Estate Inventory and Land Deposits - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Real Estate [Abstract]
Operating communities, including capitalized interest	$ 2,726,828	$ 2,217,067
Real estate held for development or held for sale	217,472	294,556
Total owned inventory	2,944,300	2,511,623
Real estate not owned under option contracts	2,594	6,698
Total real estate inventory	$ 2,946,894	$ 2,518,321

Real Estate Inventory and Lan50

Real Estate Inventory and Land Deposits - Schedule of Development Status of Land Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Book Value of Land and Development [Member]
Inventory [Line Items]
Raw	$ 385,523	$ 464,882
Partially developed	537,531	654,759
Finished	1,235,565	787,033
Long-term strategic assets	14,153	27,993
Total	2,172,772	1,934,667
Owned Lots [Member]
Inventory [Line Items]
Raw	8,599	9,825
Partially developed	8,819	8,680
Finished	11,309	8,727
Long-term strategic assets	3,265	3,564
Total	$ 31,992	$ 30,796

Real Estate Inventory and Lan51

Real Estate Inventory and Land Deposits - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Real Estate [Abstract]
Interest capitalized - beginning of period	$ 103,892	$ 79,538	$ 94,880	$ 71,263
Interest incurred	23,268	22,686	48,307	40,451
Interest amortized to cost of home closings	(20,690)	(14,998)	(36,717)	(24,488)
Interest capitalized - end of period	$ 106,470	$ 87,226	$ 106,470	$ 87,226

Investments in Unconsolidated52

Investments in Unconsolidated Entities - Additional Information (Detail)	Jun. 30, 2015
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Related and unrelated third parties ownership interests	50.00%

Investments in Unconsolidated53

Investments in Unconsolidated Entities - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Other assets	$ 767,762	$ 1,469,957
Equity Method Investments [Member]
Assets:
Real estate inventory	536,143	396,858
Other assets	109,904	59,963
Total assets	646,047	456,821
Liabilities and owners' equity:
Debt	223,065	129,561
Other liabilities	9,801	8,870
Total liabilities	232,866	138,431
Owners' equity:
TMHC	128,473	110,291
Others	284,708	208,099
Total owners' equity	413,181	318,390
Total liabilities and owners' equity	$ 646,047	$ 456,821

Investments in Unconsolidated54

Investments in Unconsolidated Entities - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Company's share in income of unconsolidated entities	$ 1,225	$ 1,253	$ 1,527	$ 2,237
Distributions of earnings from unconsolidated entities			1,437	18,861
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	15,777	7,033	17,473	8,663
Costs and expenses	(12,859)	(3,827)	(14,030)	(4,054)
Income of unconsolidated entities	2,918	3,206	3,443	4,609
Company's share in income of unconsolidated entities	1,225	1,253	1,527	2,237
Distributions of earnings from unconsolidated entities	$ 7,787	$ 714	$ 8,294	$ 1,751

Accrued Expenses and Other Li55

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Other Liabilities Disclosure [Abstract]
Real estate development costs to complete	$ 16,484		$ 24,222
Compensation and employee benefits	35,371		51,475
Self-insurance and warranty reserves	42,589	$ 42,956	44,595	$ 40,287	$ 39,254	$ 34,814
Interest payable	17,715		22,033
Property and sales taxes payable	10,971		12,808
Other accruals	50,897		45,423
Total accrued expenses and other liabilities	$ 174,027		$ 200,556

Accrued Expenses and Other Li56

Accrued Expenses and Other Liabilities - Summary of Changes in Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Product Warranties Disclosures [Abstract]
Reserve - beginning of period	$ 42,956	$ 39,254	$ 44,595	$ 34,814
Additions to reserves	4,814	5,513	7,514	7,707
Costs and claims incurred	(5,516)	(5,047)	(11,450)	(7,060)
Change in estimates to pre-existing reserves	335	567	1,930	4,826
Reserve - end of period	$ 42,589	$ 40,287	$ 42,589	$ 40,287

Debt - Senior Notes and Other B

Debt - Senior Notes and Other Borrowings (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total debt	$ 1,250,000	$ 1,388,840
Loans payable and other borrowings	123,067	147,516
Revolving credit facility	105,000	40,000
Mortgage warehouse borrowings	71,485	160,750
Total Senior Notes and bank financing	1,549,552	1,737,106
Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	1,250,000	1,388,840
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility	105,000	40,000
7.75% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Total debt		488,840
5.25% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	550,000	550,000
5.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	350,000
5.625% Senior Notes due 2024 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	350,000	350,000
Loans Payable and Other Borrowings [Member]
Debt Instrument [Line Items]
Loans payable and other borrowings	123,067	147,516
Mortgage Borrowings [Member]
Debt Instrument [Line Items]
Mortgage warehouse borrowings	$ 71,485	$ 160,750

Debt - Senior Notes and Other58

Debt - Senior Notes and Other Borrowings (Parenthetical) (Detail) - USD ($)	Jun. 30, 2015	May. 01, 2015	Dec. 31, 2014	Mar. 05, 2014	Apr. 16, 2013
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 5,800,000		$ 5,600,000
Maximum borrowing capacity on line of credit	$ 500,000,000
7.75% Senior Notes due 2020 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	7.75%		7.75%
7.75% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes		7.75%	7.75%
Unamortized debt issuance costs			$ 8,900,000
Unamortized bond premium			$ 3,400,000
5.25% Senior Notes due 2021 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.25%		5.25%
5.25% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.25%				5.25%
Unamortized debt issuance costs	$ 6,900,000		$ 7,500,000
5.875% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.875%
5.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.875%
Unamortized debt issuance costs	$ 4,400,000
5.625% Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.625%		5.625%
5.625% Senior Notes due 2024 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.625%			5.625%
Unamortized debt issuance costs	$ 4,700,000		$ 4,900,000

Debt - 2020 Senior Notes - Addi

Debt - 2020 Senior Notes - Additional Information 1 (Detail) - 7.75% Senior Notes due 2020 [Member]	Jun. 30, 2015	May. 01, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Stated interest rate of senior notes	7.75%		7.75%
Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes		7.75%	7.75%

Debt - 2021 Senior Notes - Addi

Debt - 2021 Senior Notes - Additional Information 1 (Detail) - 5.25% Senior Notes due 2021 [Member] - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Apr. 16, 2013
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.25%	5.25%
Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes issued amount			$ 550,000,000
Stated interest rate of senior notes	5.25%		5.25%
Senior Notes, maturity date	Apr. 15, 2021

Debt - 2023 Senior Notes and Re

Debt - 2023 Senior Notes and Redemption of 2020 Senior Notes - Additional Information 3 (Detail) - USD ($)	Apr. 16, 2015	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Redemption of principal amount of debt			$ 513,608,000
Loss on extinguishment of debt		$ 33,317,000	$ 33,317,000
5.875% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes		5.875%	5.875%
5.875% Senior Notes due 2023 [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Senior Notes issued amount	$ 350,000,000
Stated interest rate of senior notes	5.875%
Loss on extinguishment of debt	$ 33,300,000
Senior Notes, maturity date			Apr. 15, 2023
Redemption price	100.00%
7.75% Senior Notes due 2020 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes		7.75%	7.75%	7.75%
7.75% Senior Notes due 2020 [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Redemption of principal amount of debt	$ 485,400,000
Percentage of redemption price, principal amount of debt	105.813%

Debt - 2024 Senior Notes - Addi

Debt - 2024 Senior Notes - Additional Information 2 (Detail) - 5.625% Senior Notes due 2024 [Member] - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Mar. 05, 2014
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.625%	5.625%
Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes issued amount			$ 350,000,000
Stated interest rate of senior notes	5.625%		5.625%
Senior Notes, maturity date	Mar. 1, 2024
Redemption price	100.00%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility - Additional Information 4 (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Apr. 24, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Revolving credit facility	$ 105,000,000		$ 40,000,000
Maximum capitalization ratio	60.00%
Actual capitalization ratio	42.00%
Minimum consolidated tangible net worth requirement	$ 1,400,000,000
Tangible net worth	1,800,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility	105,000,000		$ 40,000,000
Maximum borrowing capacity on line of credit	500,000,000
Revolving Credit Facility [Member] | Restated Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility	$ 40,000,000
Maximum borrowing capacity on line of credit		$ 500,000,000
Maturity date on credit facility	Apr. 12, 2019

Debt - Summary of Mortgage Subs

Debt - Summary of Mortgage Subsidiary Borrowings (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Amount Drawn	$ 71,485,000	$ 160,750,000
Secured Debt [Member]
Line of Credit Facility [Line Items]
Amount Drawn	71,485,000	160,750,000
Facility Amount	155,000,000	235,000,000
Secured Debt [Member] | Flagstar [Member]
Line of Credit Facility [Line Items]
Amount Drawn	32,391,000	62,894,000
Facility Amount	$ 55,000,000	85,000,000
Collateral	Mortgage Loans
Expiration date	30 days written notice
Secured Debt [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Amount Drawn	$ 39,094,000	86,426,000
Facility Amount	$ 50,000,000	$ 100,000,000
Expiration Date	Sep. 28, 2015	Sep. 28, 2015
Collateral	Pledged Cash
Secured Debt [Member] | Comerica [Member]
Line of Credit Facility [Line Items]
Amount Drawn		$ 11,430,000
Facility Amount	$ 50,000,000	$ 50,000,000
Expiration Date	Aug. 19, 2015	Aug. 19, 2015
Collateral	Mortgage Loans
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Flagstar [Member]
Line of Credit Facility [Line Items]
Interest rate, basis	LIBOR
Interest rate, spread rate	2.50%	2.50%
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Interest rate, basis	2.50% plus 30-day LIBOR to 2.875% plus 30-day LIBOR or 0.25% (whichever is greater).
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Comerica [Member]
Line of Credit Facility [Line Items]
Interest rate, basis	LIBOR
Interest rate, spread rate	2.75%	2.75%

Debt - Summary of Mortgage Su65

Debt - Summary of Mortgage Subsidiary Borrowings (Parenthetical) (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Dec. 02, 2014
Secured Debt [Member]
Line of Credit Facility [Line Items]
Mortgage borrowings outstanding, collateralized amount	$ 110,500,000	$ 191,100,000
Collateralized amount of restricted short-term investments	600,000	1,300,000
Maximum loan amount under agreement	155,000,000	235,000,000
Secured Debt [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Maximum loan amount under agreement	$ 50,000,000	100,000,000
Current borrowing capacity under agreement		$ 50,000,000
Expiration Date	Sep. 28, 2015	Sep. 28, 2015
Secured Debt [Member] | J.P. Morgan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate under the agreement, description	2.50% plus 30-day LIBOR to 2.875% plus 30-day LIBOR or 0.25% (whichever is greater).
Secured Debt [Member] | J.P. Morgan [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate under the agreement	2.50%
Secured Debt [Member] | J.P. Morgan [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate under the agreement	2.875%
Temporary Increase [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity under agreement			$ 100,000,000
Expiration Date	Jan. 23, 2015

Debt - Loans Payable and Other

Debt - Loans Payable and Other Borrowings - Additional Information 5 (Detail) - Loans Payable and Other Borrowings [Member] - Loans Payables [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Interest on loans payable	0.00%	0.00%
Interest on loans payable	8.00%	8.00%

Fair Value Disclosures - Carryi

Fair Value Disclosures - Carrying Value and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale, carrying value	$ 110,526	$ 191,140
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale, carrying value	110,526	191,140
Mortgage loans held for sale, estimated fair value	110,526	191,140
Significant Other Observable Inputs (Level 2) [Member] | Loans Payable and Other Borrowings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	123,067	147,516
Estimated Fair Value	123,067	147,516
Significant Other Observable Inputs (Level 2) [Member] | Revolving Credit Facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	105,000	40,000
Estimated Fair Value	105,000	40,000
Significant Other Observable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability, Carrying Value	22,586	17,932
Contingent consideration liability, Estimated Fair Value	22,586	17,932
Mortgage Borrowings [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	71,485	160,750
Estimated Fair Value	71,485	160,750
7.75% Senior Notes due 2020 [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value		488,840
Estimated Fair Value		518,170
5.25% Senior Notes due 2021 [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	550,000	550,000
Estimated Fair Value	541,750	539,000
5.875% Senior Notes due 2023 [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	350,000
Estimated Fair Value	348,250
5.625% Senior Notes due 2024 [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	350,000	350,000
Estimated Fair Value	$ 338,625	$ 336,000

Fair Value Disclosures - Carr68

Fair Value Disclosures - Carrying Value and Fair Value of Financial Instruments (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
7.75% Senior Notes due 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	7.75%	7.75%
Maturity of senior notes, year	2,020	2,020
5.25% Senior Notes due 2021 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	5.25%	5.25%
Maturity of senior notes, year	2,021	2,021
5.875% Senior Notes due 2023 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	5.875%
Maturity of senior notes, year	2,023
5.625% Senior Notes due 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	5.625%	5.625%
Maturity of senior notes, year	2,024	2,024

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Income Tax [Line Items]
Unrecognized tax benefits expected to reverse	$ 0
Domestic [Member]
Income Tax [Line Items]
Gross cumulative unrecognized tax benefits	$ 2,400,000	$ 2,400,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Description of voting	Holders of Class A Common Stock and Class B Common Stock are entitled to one vote for each share held on all matters submitted to stockholders for their vote or approval.

Stockholders' Equity - Componen

Stockholders' Equity - Components and Voting Power of Outstanding Common Stock (Detail) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common Stock Outstanding	122,279,740
Percentage	100.00%
Common Class A [Member]
Class of Stock [Line Items]
Common Stock Outstanding	33,079,677	33,060,540
Percentage	27.00%
Common Class B [Member]
Class of Stock [Line Items]
Common Stock Outstanding	89,200,063	89,227,416
Percentage	73.00%	73.00%

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation	$ 21.4	$ 16
Class M Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment for settlement of awards	$ 1.4
Performance Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period	3 years
First Anniversary [Member] | Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	25.00%
Second Anniversary [Member] | Non Performance Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.30%
Second Anniversary [Member] | Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	25.00%
Third Anniversary [Member] | Non Performance Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.30%
Third Anniversary [Member] | Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	25.00%
Fourth Anniversary [Member] | Non Performance Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.30%
Fourth Anniversary [Member] | Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	25.00%
2013 Omnibus Equity Award Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate common stock available for future grants	5,803,452

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 2,039	$ 1,475	$ 5,136	$ 2,820
New TMM Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	393	434	912	811
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	828	725	2,798	1,401
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 818	$ 316	$ 1,426	$ 608

Stock Based Compensation - Su74

Stock Based Compensation - Summary of Stock-Based Compensation Expense (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 2,039	$ 1,475	$ 5,136	$ 2,820
Monarch [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 1,500		$ 1,500

Stock Based Compensation - Su75

Stock Based Compensation - Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity (Detail) - 6 months ended Jun. 30, 2015 - Restricted Stock Units and Performance Based Restricted Stock Units [Member] - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, Beginning balance	185,679
Number of Awards, Granted	439,563
Number of Awards, Vested	(13,307)
Number of Awards, Forfeited	(4,856)
Number of Awards, Ending balance	607,079
Weighted Average Grand Date Fair Value, Outstanding, Beginning balance	$ 24.19
Weighted Average Grand Date Fair Value, Granted	18.44
Weighted Average Grand Date Fair Value, Vested	22.98
Weighted Average Grand Date Fair Value, Forfeited	24.30
Weighted Average Grand Date Fair Value, Outstanding, Ending balance	$ 20.05

Stock Based Compensation - Su76

Stock Based Compensation - Summary of Stock Option Plan (Detail) - Jun. 30, 2015 - $ / shares	Total
Compensation Related Costs [Abstract]
Number of Shares, Outstanding, Beginning balance	1,325,029
Number of Shares, Granted	393,123
Number of Shares, Exercised	0
Number of shares, Cancelled/Forfeited	(189,250)
Number of Shares, Outstanding, Ending balance	1,528,902
Number of Shares, Options exercisable	266,883
Weighted Average Exercise Price Per Share, Outstanding, Beginning balance	$ 22.35
Weighted Average Exercise Price Per Share, Granted	18.76
Weighted Average Exercise Price Per Share, Exercised	0
Weighted Average Exercise Price Per Share, Cancelled/Forfeited	25.07
Weighted Average Exercise Price Per Share, Outstanding, Ending balance	21.09
Weighted Average Exercise Price Per Share, options exercisable	$ 22.01

Stock Based Compensation - Su77

Stock Based Compensation - Summary of Stock Option Activity (Detail) - 6 months ended Jun. 30, 2015 - Class B Common Stock/New TMM Units [Member] - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares/Units, Beginning balance	1,431,721
Number of Shares/Units, Granted	0
Number of Shares/Units, Exchanges	(8,330)
Number of Shares/Units, Forfeited	(19,023)
Number of Shares/Units, Ending balance	1,404,368
Weighted Average Grant Date Fair Value, Beginning balance	$ 5.11
Weighted Average Grant Date Fair Value, Granted	0
Weighted Average Grant Date Fair Value, Exchanges	5.56
Weighted Average Grant Date Fair Value, Forfeited	4.23
Weighted Average Grant Date Fair Value, Ending balance	$ 5.12

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	May. 31, 2015
Affiliates [Member]
Related Party Transaction [Line Items]
Real estate inventory acquisitions from affiliates	$ 16.8	$ 15.3	$ 16.8	$ 31
Pacific Point Development Partners LLC [Member]
Related Party Transaction [Line Items]
Date of site acquisition			May 19, 2015
Initial capital investment in joint venture					$ 16.8

Accumulated Other Comprehensi79

Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period			$ (10,910)
Other comprehensive income (loss) before reclassifications			(26,945)
Gross amounts reclassified from accumulated other comprehensive income (loss)			1,488
Income tax (expense) benefit			0
Other comprehensive income (loss), net of tax	$ 199	$ 12,564	(25,457)	$ (1,362)
Gross amounts reclassified within accumulated other comprehensive income (loss)			18,521
Balance, end of period	(17,846)		(17,846)
Total Post-Retirement Benefits Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period			692
Other comprehensive income (loss) before reclassifications			269
Gross amounts reclassified from accumulated other comprehensive income (loss)			1,488
Foreign currency translation			518
Income tax (expense) benefit			0
Other comprehensive income (loss), net of tax			2,275
Gross amounts reclassified within accumulated other comprehensive income (loss)			(2,289)
Balance, end of period	678		678
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period			(52,148)
Other comprehensive income (loss) before reclassifications			(27,214)
Income tax (expense) benefit			0
Other comprehensive income (loss), net of tax			(27,214)
Balance, end of period	(79,362)		(79,362)
Non-controlling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period			40,546
Foreign currency translation			(518)
Income tax (expense) benefit			0
Other comprehensive income (loss), net of tax			(518)
Gross amounts reclassified within accumulated other comprehensive income (loss)			20,810
Balance, end of period	$ 60,838		$ 60,838

Operating and Reporting Segme80

Operating and Reporting Segments - Additional Information (Detail) - 6 months ended Jun. 30, 2015	SegmentsOperationsSegment
Segment Reporting Information [Line Items]
Reportable segments	3
Homebuilding [Member]
Segment Reporting Information [Line Items]
Operating divisions | Operations	12
Reportable segments | Segment	2
Mortgage Operations [Member]
Segment Reporting Information [Line Items]
Operating divisions | Operations	1
Reportable segments	1

Operating and Reporting Segme81

Operating and Reporting Segments - Segment Information Excluding Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	$ 700,973	$ 597,008	$ 1,210,389	$ 1,067,483
Gross margin	136,659	127,352	231,242	230,733
Selling, general and administrative expenses	(71,226)	(58,770)	(128,150)	(111,395)
Equity in income/(loss) of unconsolidated entities	1,225	1,253	1,527	2,237
Interest and other (expense) income	(3,381)	(4,327)	(9,100)	(8,111)
Loss on extinguishment of debt	(33,317)		(33,317)
Gain on foreign currency forward			29,983
Income from continuing operations before income taxes	29,960	65,508	92,185	113,464
Operating Segments [Member] | East [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	445,131	349,396	750,886	622,423
Gross margin	91,077	76,343	152,541	136,229
Selling, general and administrative expenses	(38,453)	(32,159)	(68,833)	(58,905)
Equity in income/(loss) of unconsolidated entities	712	572	855	871
Interest and other (expense) income	(4,340)	(4,725)	(8,048)	(8,163)
Income from continuing operations before income taxes	48,996	40,031	76,515	70,032
Operating Segments [Member] | West [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	245,999	239,437	442,025	430,623
Gross margin	41,835	47,482	72,381	88,651
Selling, general and administrative expenses	(17,193)	(15,374)	(30,812)	(29,860)
Equity in income/(loss) of unconsolidated entities	(242)	198	(422)	477
Interest and other (expense) income	813	14	529	(40)
Income from continuing operations before income taxes	25,213	32,320	41,676	59,228
Operating Segments [Member] | Mortgage Operations [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	9,843	8,175	17,478	14,437
Gross margin	3,747	3,527	6,320	5,853
Equity in income/(loss) of unconsolidated entities	755	483	1,094	889
Income from continuing operations before income taxes	4,502	4,010	7,414	6,742
Corporate and Unallocated [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Selling, general and administrative expenses	(15,580)	(11,237)	(28,505)	(22,630)
Interest and other (expense) income	146	384	(1,581)	92
Loss on extinguishment of debt	(33,317)		(33,317)
Gain on foreign currency forward			29,983
Income from continuing operations before income taxes	$ (48,751)	$ (10,853)	$ (33,420)	$ (22,538)

Operating and Reporting Segme82

Operating and Reporting Segments - Assets from Segment (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 2,983,149	$ 2,552,865
Investments in unconsolidated entities	128,473	110,291
Other assets	767,762	1,469,957
Total assets	3,879,384	4,133,113
Discontinued Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Other assets		576,445
Total assets		576,445
Operating Segments [Member] | East [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,501,599	1,275,192
Investments in unconsolidated entities	54,589	57,138
Other assets	208,776	166,854
Total assets	1,764,964	1,499,184
Operating Segments [Member] | West [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,481,550	1,277,673
Investments in unconsolidated entities	72,100	51,909
Other assets	54,021	37,989
Total assets	1,607,671	1,367,571
Operating Segments [Member] | Mortgage Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Investments in unconsolidated entities	1,784	1,244
Other assets	121,826	204,685
Total assets	123,610	205,929
Corporate and Unallocated [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Other assets	383,139	483,984
Total assets	$ 383,139	$ 483,984

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds	$ 361.4	$ 315.6
Legal accruals	$ 1	$ 0.9

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Thousands	Jul. 21, 2015USD ($)Lot	Jun. 30, 2015USD ($)
Subsequent Event [Line Items]
Payments to acquire business		$ 62,440
Orleans Homes [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Payments to acquire business	$ 166,000
Number of lots acquired | Lot	2,100