Taylor Morrison Home (TMHC) 10-Q 4 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
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		33,158,855
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		89,108,569

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 158,279	$ 234,217
Restricted cash	1,280	1,310
Real estate inventory:
Owned inventory	3,127,510	2,511,623
Real estate not owned under option agreements	1,683	6,698
Total real estate inventory	3,129,193	2,518,321
Land deposits	35,356	34,544
Mortgage loans held for sale	104,094	191,140
Prepaid expenses and other assets, net	118,220	89,210
Other receivables, net	128,131	85,274
Investments in unconsolidated entities	126,359	110,291
Deferred tax assets, net	252,341	258,190
Property and equipment, net	5,821	5,337
Intangible assets, net	4,896	5,459
Goodwill	57,698	23,375
Assets of discontinued operations	0	576,445
Total assets	4,121,668	4,133,113
Liabilities
Accounts payable	164,253	122,466
Accrued expenses and other liabilities	203,833	200,556
Income taxes payable	30,775	50,096
Customer deposits	101,997	70,465
Senior notes	1,250,000	1,388,840
Loans payable and other borrowings	145,589	147,516
Revolving credit facility borrowings	230,000	40,000
Mortgage warehouse borrowings	74,128	160,750
Liabilities attributable to consolidated option agreements	1,683	6,698
Liabilities of discontinued operations	0	168,565
Total liabilities	$ 2,202,258	$ 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 September 30, 2015 and December 31, 2014	$ 0	$ 0
Additional paid-in capital	376,321	374,358
Retained earnings	158,330	114,948
Accumulated other comprehensive loss	(17,959)	(10,910)
Total stockholders’ equity attributable to Taylor Morrison Home Corporation	516,693	478,397
Non-controlling interests – joint ventures	6,304	6,528
Non-controlling interests – Principal Equityholders	1,396,413	1,292,236
Total stockholders’ equity	1,919,410	1,777,161
Total liabilities and stockholders’ equity	4,121,668	4,133,113
Common Class A [Member]
Stockholders’ Equity
Common stock	0	0
Common Class B [Member]
Stockholders’ Equity
Common stock	$ 1	$ 1

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Common stock, shares outstanding	122,267,424
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	33,158,855	33,060,540
Common stock, shares outstanding	33,158,855	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	89,108,569	89,227,416
Common stock, shares outstanding	89,108,569	89,227,416

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Home closings revenue, net	$ 779,190	$ 615,736	$ 1,955,170	$ 1,653,890
Land closings revenue	5,782	5,027	22,712	19,919
Mortgage operations revenue	11,316	8,433	28,794	22,870
Total revenues	796,288	629,196	2,006,676	1,696,679
Cost of home closings	635,935	488,250	1,594,691	1,304,595
Cost of land closings	3,919	3,938	13,152	15,759
Mortgage operations expenses	6,962	5,057	18,120	13,641
Total cost of revenues	646,816	497,245	1,625,963	1,333,995
Gross margin	149,472	131,951	380,713	362,684
Sales, commissions and other marketing costs	53,482	41,432	136,724	114,362
General and administrative expenses	25,264	19,114	70,171	57,579
Equity in loss/(income) of unconsolidated entities	120	(1,231)	(1,408)	(3,468)
Interest (income)/expense, net	(33)	345	(165)	1,127
Other expense, net	2,393	3,241	11,625	10,570
Loss on extinguishment of debt	0	0	33,317	0
Gain on foreign currency forward	0	0	(29,983)	0
Income from continuing operations before income taxes	68,246	69,050	160,432	182,514
Income tax provision	22,452	19,541	54,434	50,602
Net income from continuing operations	45,794	49,509	105,998	131,912
Discontinued operations:
Income from discontinued operations	0	23,970	0	44,543
Transaction expenses from discontinued operations	0	0	(9,043)	0
Gain on sale of discontinued operations	0	0	80,205	0
Income tax expense from discontinued operations	0	(7,304)	(14,500)	(13,485)
Net income from discontinued operations	0	16,666	56,662	31,058
Net income before allocation to non-controlling interests	45,794	66,175	162,660	162,970
Net income attributable to non-controlling interests — joint ventures	(138)	(47)	(1,427)	(386)
Net income before non-controlling interests — Principal Equityholders	45,656	66,128	161,233	162,584
Net income from continuing operations attributable to non-controlling interests — Principal Equityholders	(33,312)	(36,122)	(76,470)	(96,308)
Net income from discontinued operations attributable to non-controlling interests — Principal Equityholders	0	(12,160)	(41,381)	(22,682)
Net income available to Taylor Morrison Home Corporation	$ 12,344	$ 17,846	$ 43,382	$ 43,594
Earnings per common share - basic:
Income from continuing operations (usd per share)	$ 0.37	$ 0.40	$ 0.85	$ 1.07
Income from discontinued operations - net of tax (usd per share)	0	0.14	0.46	0.26
Net income available to Taylor Morrison Home Corporation (usd per share)	0.37	0.54	1.31	1.33
Earnings per common share - diluted:
Income from continuing operations (usd per share)	0.37	0.40	0.85	1.07
Income from discontinued operations - net of tax (usd per share)	0	0.14	0.46	0.26
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.37	$ 0.54	$ 1.31	$ 1.33
Weighted average number of shares of common stock:
Basic (in shares)	33,122	32,956	33,088	32,896
Diluted (in shares)	122,458	122,338	122,412	122,345

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income before non-controlling interests, net of tax	$ 45,794	$ 66,175	$ 162,660	$ 162,970
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax	(565)	(19,656)	(27,779)	(19,238)
Post-retirement benefits adjustments, net of tax	0	814	1,757	(966)
Other comprehensive income (loss), net of tax	(565)	(18,842)	(26,022)	(20,204)
Comprehensive income	45,229	47,333	136,638	142,766
Comprehensive income available to Taylor Morrison Home Corporation	12,230	12,752	36,333	38,134
Joint Ventures [Member]
Other comprehensive income (loss), net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	(138)	(47)	(1,427)	(386)
Principal Equityholders [Member]
Other comprehensive income (loss), net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	$ (32,861)	$ (34,534)	$ (98,878)	$ (104,246)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity - 9 months ended Sep. 30, 2015 - 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, 2014	$ 1,777,161	$ 0	$ 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 before allocation to non-controlling interests	162,660				43,382			1,427	117,851
Other comprehensive loss	(26,022)					(7,049)	$ (518)		(18,973)
Exchange of New TMM Units and corresponding number of Class B Common Stock, shares		87,055	(87,055)
Cancellation of forfeited New TMM Units and corresponding number of Class B Common Stock, shares			(31,792)
Issuance of restricted stock units, shares		11,260
Share based compensation	7,262			1,963					5,299
Distributions to non-controlling interests-joint ventures	(1,651)							(1,651)
Balance at Sep. 30, 2015	$ 1,919,410	$ 0	$ 1	$ 376,321	$ 158,330	$ (17,959)		$ 6,304	$ 1,396,413
Balance, shares at Sep. 30, 2015		33,158,855	89,108,569

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before allocation to non-controlling interests		$ 162,660	$ 162,970
Adjustments to reconcile net income to net cash used in operating activities:
Equity in income of unconsolidated entities		(1,408)	(22,497)
Stock compensation expense		5,723	4,327
Loss on extinguishment of debt		33,317	0
Distributions of earnings from unconsolidated entities		1,879	21,675
Depreciation and amortization		2,927	3,958
Net income from discontinued operations		(56,662)	0
Gain on foreign currency forward		(29,983)	0
Contingent consideration		7,916	0
Deferred income taxes		5,849	(3,771)
Changes in operating assets and liabilities:
Real estate inventory and land deposits		(430,964)	(521,840)
Mortgage loans held for sale, prepaid expenses and other assets		2,086	(48,591)
Customer deposits		29,728	18,697
Accounts payable, accrued expenses and other liabilities		15,128	41,379
Income taxes payable		(19,909)	(27,316)
Net cash used in operating activities		(271,713)	(371,009)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(1,753)	(2,746)
Payments for business acquisitions		(220,899)	0
Distribution from unconsolidated entities		6,857	1,753
Decrease in restricted cash		30	11,261
Investments of capital into unconsolidated entities		(23,397)	(81,494)
Proceeds from sale of discontinued operations		268,853	0
Proceeds from settlement of foreign currency forward		29,983	0
Net cash provided by (used in) investing activities		59,674	(71,226)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on lines of credit related to mortgage borrowings		595,451	348,491
Repayment on lines of credit related to mortgage borrowings		(682,073)	(374,810)
Proceeds from loans payable and other borrowings		33,081	32,520
Repayments of loans payable and other borrowings		(35,008)	(157,366)
Borrowings on revolving credit facility		325,000	203,000
Payments on revolving credit facility		(135,000)	(53,000)
Proceeds from the issuance of senior notes		350,000	350,000
Repayments on senior notes		(513,608)	0
Deferred financing costs		(4,538)	(6,255)
Payment of contingent consideration		(3,050)	0
Distributions to non-controlling interests of consolidated joint ventures		(1,651)	(740)
Net cash (used in) provided by financing activities		(71,396)	341,840
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		(20,491)	(7,258)
NET DECREASE IN CASH AND CASH EQUIVALENTS		(303,926)	(107,653)
CASH AND CASH EQUIVALENTS - Beginning of period	[1]	462,205	389,181
CASH AND CASH EQUIVALENTS — End of period		158,279	281,528
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net		81,664	94,162
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Increase (decrease) in loans payable issued to sellers in connection with land purchase contracts		11,943	(80,864)
Accrual of contingent consideration		3,200	0
Non-cash portion of loss on debt extinguishment		5,102	0
Decrease in income taxes payable and related tax indemnification receivable from seller		$ 0	$ 167
[1]	Cash and cash equivalents shown here includes 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) $ in Thousands	Dec. 31, 2014USD ($)
Statement of Cash Flows [Abstract]
Cash and cash equivalents from discontinued operations	$ 227,988

Business

Business	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	BUSINESS Organization and Description of the Business — Taylor Morrison Home Corporation (referred to herein as “TMHC,” “we,” “our,” the “Company” and “us”), through its divisions and segments, owns and operates a residential homebuilding business and is a developer of lifestyle communities. We currently operate in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina, and Texas. Our homes appeal to entry-level, move-up, 55+ and luxury homebuyers. The Company operates primarily under our Taylor Morrison and Darling Homes brands. Our business has 15 homebuilding operating divisions, and a mortgage operations division, which are organized into three reportable segments: East, West, and Mortgage Operations. The communities in our East and West segments offer single family attached and/or detached homes. We are the general contractors for all real estate projects and retain subcontractors for home construction and site development. Our Mortgage Operations reportable segment provides financial services to customers through our wholly owned mortgage subsidiary, Taylor Morrison Home Funding, LLC (“TMHF”). 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 ("TMC"). 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 September 30, 2015 and December 31, 2014, the Principal Equityholders owned 72.9% of the Company. On January 28, 2015 we closed on the sale of Monarch Corporation, our former Canadian operating segment (“Monarch”). As a result of the sale, we do not have significant continuing involvement with Monarch. See Note 4 - Discontinued Operations for further information. On April 30, 2015, we acquired JEH Homes, an Atlanta based homebuilder, for a purchase price of approximately $63.2 million , excluding contingent consideration. In addition, on July 21, 2015, we acquired three divisions of Orleans Homes for a purchase price of approximately $ 167.3 million . See Note 2 – Summary of Significant Accounting Policies for further information regarding the assets acquired and the preliminary allocation of purchase price for both transactions.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation — The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our 2014 Annual Report on Form 10-K. In the opinion of management, the accompanying Condensed Consolidated Financial Statements include all normal and recurring adjustments that are considered necessary for the fair presentation of our results for the interim periods presented. Results for interim periods are not necessarily indicative of results to be expected for a full fiscal year. 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 – As a result of our decision in December 2014 to dispose of Monarch, the operating results and financial position of the Monarch business are presented as discontinued operations for all periods presented. Non-controlling interests – In the Reorganization Transactions, the Company became the sole owner of the general partner of New TMM. As the general partner of New TMM, the Company exercises exclusive and complete control over New TMM. Consequently, the Company consolidates New TMM and records a non-controlling interest in the Condensed Consolidated Balance Sheets for the economic interests in New TMM, that are directly or indirectly held by the Principal Equityholders or by members of management and the Board of Directors. Purchase Price Allocation and Related Acquisition Accounting — On April 30, 2015 , we acquired JEH Homes, an Atlanta based homebuilder, for a purchase price of approximately $63.2 million , excluding contingent consideration. On July 21, 2015, we completed the acquisition of the Charlotte, Raleigh, and Chicago divisions of Orleans Homes for a purchase price of approximately $167.3 million , consisting of $ 162.3 million of cash and $ 5.0 million of seller financing. In accordance with ASC Topic 805 , Business Combinations , the effects of the acquisitions were reflected on the date of the transactions in the financial statements of the acquired businesses by allocating purchase price and recording the assets at their fair values in order to reflect the purchase price paid, which resulted in goodwill for each acquisition. For both acquisitions, we determined the fair value of real estate inventory on a community-by-community basis primarily using the sales comparison and income approaches. The sales comparison approach was used for all inventory in process. The income approach derives a value using a discounted cash flow for income-producing real property. This approach was used exclusively for finished lots. The income approach using discounted cash flows was also used to value lot option contracts acquired. These estimated cash flows and ultimate valuation 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, overhead costs and may vary significantly between communities. The Company has completed a preliminary allocation of purchase price as of September 30, 2015 and expects to finalize the allocation within one year from the date of each acquisition. The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created as of September 30, 2015 (in thousands): JEH Homes Orleans Homes Total Acquisition Date April 30, 2015 July 21, 2015 Assets Acquired Real estate inventory $ 55,559 $ 140,602 $ 196,161 Land deposits — 2,236 $ 2,236 Prepaid expenses and other assets 1,301 2,436 $ 3,737 Property and equipment 395 623 $ 1,018 Goodwill 9,125 25,198 $ 34,323 Total assets 66,380 171,095 237,475 Less Liabilities Assumed Accrued expenses and other liabilities — 2,700 2,700 Customer deposits — 1,081 1,081 Less contingent consideration $ 3,200 $ — $ 3,200 Net Assets Acquired 63,180 167,314 230,494 Use of Estimates — The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of acquired assets, valuation of equity awards, valuation allowance on deferred tax assets and reserves for warranty and self-insured risks. Actual results could differ from those estimates. Non-controlling Interests – Principal Equityholders – Immediately prior to our IPO, as part of the Reorganization Transactions, the existing holders of TMM Holdings’ limited partnership interests exchanged their limited partnership interests for limited partnership interests of New TMM (“New TMM Units”). For each New TMM Unit received in the exchange, the holders of New TMM Units also received a corresponding number of shares of our Class B Common Stock (the “Class B Common Stock”). Our Class B Common Stock has voting rights but no economic rights. 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 terms of 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. Stock Based Compensation — We account for stock-based compensation in accordance with ASC Topic 718-10, Compensation – Stock Compensation. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option pricing model. We use a Monte Carlo model for the valuation of our restricted stock grants that have a market condition. These models require the input of subjective assumptions. This guidance also requires us to estimate forfeitures in calculating the expense related to stock-based compensation. Recently Issued Accounting Pronouncements — In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which changes the presentation of debt issuance costs in financial statements. Under this ASU, such costs are presented in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs continues to be reported as interest expense. ASU 2015-03 will be effective for us in our fiscal year beginning January 1, 2016. The adoption of ASU 2015-03 is not expected to have a material effect on our condensed consolidated financial statements or disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 amends the consolidation requirements and changes the required consolidation analysis. ASU 2015-02 requires management to reevaluate all legal entities under a revised consolidation model specifically to (i) modify the evaluation of whether limited partnership and similar legal entities are variable interest entities (“VIEs”), (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with VIEs particularly those that have fee arrangements and related party relationships, and (iv) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU 2015-02 will be effective for us for our fiscal year beginning January 1, 2016. The adoption of ASU 2015-02 is not expected to have a material effect on our condensed consolidated financial statements or disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition , and most industry-specific guidance. This ASU also supersedes some cost guidance included in ASC Subtopic 605-35, Revenue Recognition-Construction-Type and Production-Type Contracts . The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will generally need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 has been deferred and will be effective beginning January 1, 2018 and, at that time, we will adopt the new standard under either the full retrospective approach or the modified retrospective approach. Early adoption is not permitted. We are currently evaluating the method and impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements or disclosures.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	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. The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Numerator: Net income available to TMHC – basic $ 12,344 $ 17,846 $ 43,382 $ 43,594 Income from discontinued operations, net of tax — 16,666 56,662 31,058 Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders — (12,160 ) (41,381 ) (22,682 ) Net income from discontinued operations – basic $ — $ 4,506 $ 15,281 $ 8,376 Net income from continuing operations – basic $ 12,344 $ 13,340 $ 28,101 $ 35,218 Net income from continuing operations – basic $ 12,344 $ 13,340 $ 28,101 $ 35,218 Net income from continuing operations attributable to non-controlling interest – Principal Equityholders 33,312 36,122 76,470 96,308 Loss fully attributable to public holding company 5 26 234 270 Net income from continuing operations – diluted $ 45,661 $ 49,488 $ 104,805 $ 131,796 Net income from discontinued operations – diluted $ — $ 16,666 $ 56,662 $ 31,058 Denominator: Weighted average shares – basic (Class A) 33,122 32,956 33,088 32,896 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 89,158 89,330 89,188 89,405 Restricted stock units 178 52 136 44 Stock Options — — — — Weighted average shares – diluted 122,458 122,338 122,412 122,345 Earnings per common share – basic: Income from continuing operations $ 0.37 $ 0.40 $ 0.85 $ 1.07 Income from discontinued operations, nets of tax $ — $ 0.14 $ 0.46 $ 0.26 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.54 $ 1.31 $ 1.33 Earnings per common share – diluted: Income from continuing operations $ 0.37 $ 0.40 $ 0.85 $ 1.07 Income from discontinued operations, net of tax $ — $ 0.14 $ 0.46 $ 0.26 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.54 $ 1.31 $ 1.33 We excluded a total weighted average of 1,531,404 and 1,543,056 stock options and restricted stock units (“RSUs”) and 1,294,149 and 1,267,665 stock options and RSUs from the calculation of earnings per share for the three and nine months ended September 30, 2015 and 2014 , respectively, as their inclusion would be 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	9 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	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 nine months ended September 30, 2015 , we did no t record any revenues or expenses related to the operations of 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 nine months ended September 30, 2014 we recorded $129.8 million and $239.3 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 Total 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 Total liabilities of discontinued operations $ 168,565

Derivative Financial Instrument

Derivative Financial Instrument	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instrument	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 to gain on foreign currency forward in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2015 .

Real Estate Inventory and Land

Real Estate Inventory and Land Deposits	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Real Estate Inventory and Land Deposits	REAL ESTATE INVENTORY AND LAND DEPOSITS In accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment , we review our real estate inventory for indicators of impairment on a community by community basis during each reporting period. In conducting the review for indicators of impairment, we evaluate, among other things, the margins on homes that have been delivered, margins on homes under sales contracts in backlog, projected margins with regard to future home sales over the life of the community, projected margins with regard to future land sales and the estimated fair value of the land itself. For the three and nine months ended September 30, 2015 and 2014 , we recorded no impairment charges on real estate assets. 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 September 30, 2015 December 31, 2014 Operating communities, including capitalized interest $ 2,924,713 $ 2,217,067 Real estate held for development or held for sale 202,797 294,556 Total owned inventory 3,127,510 2,511,623 Real estate not owned under option contracts 1,683 6,698 Total real estate inventory $ 3,129,193 $ 2,518,321 The development status of our land inventory is as follows (dollars in thousands): As of September 30, 2015 December 31, 2014 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 8,642 $ 397,590 9,825 $ 464,882 Partially developed 8,209 551,794 8,680 654,759 Finished 12,673 1,314,693 8,727 787,033 Long-term strategic assets 3,264 14,730 3,564 27,993 Total 32,788 $ 2,278,807 30,796 $ 1,934,667 Land Deposits — We provide deposits related to land options and land purchase contracts, which are capitalized when paid and classified as land deposits until the associated property is purchased. As of September 30, 2015 and December 31, 2014 , we had the right to purchase 9,578 and 5,372 lots under land option purchase contracts, respectively, which represents an aggregate purchase price of $798.1 million and $323.5 million as of September 30, 2015 and December 31, 2014 , respectively. We do not have title to the property and the creditors generally have no recourse against the Company. As of September 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 $35.4 million and $34.5 million , respectively, in land deposits related to land options and land purchase contracts. For the three and nine months ended September 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 — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest capitalized - beginning of period $ 106,470 $ 87,227 $ 94,880 $ 71,263 Interest incurred 22,401 25,167 70,708 65,619 Interest amortized to cost of home closings (21,886 ) (15,227 ) (58,603 ) (39,715 ) Interest capitalized - end of period $ 106,985 $ 97,167 $ 106,985 $ 97,167

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	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 September 30, 2015 December 31, Assets: Real estate inventory $ 562,320 $ 396,858 Other assets 102,413 59,963 Total assets $ 664,733 $ 456,821 Liabilities and owners’ equity: Debt $ 234,101 $ 129,561 Other liabilities 16,500 8,870 Total liabilities 250,601 138,431 Owners’ equity: TMHC 126,359 110,291 Others 287,773 208,099 Total owners’ equity 414,132 318,390 Total liabilities and owners’ equity $ 664,733 $ 456,821 Three Months Ended Nine Months Ended 2015 2014 2015 2014 Revenues $ 2,206 $ 4,805 $ 19,430 $ 13,468 Costs and expenses (2,242 ) (3,046 ) (15,980 ) (7,100 ) (Loss)/Income of unconsolidated entities $ (36 ) $ 1,759 $ 3,450 $ 6,368 Company’s share in (loss)/income of unconsolidated entities $ (120 ) $ 1,231 $ 1,408 $ 3,468 Distributions of earnings from unconsolidated entities $ 442 $ 998 $ 8,736 $ 2,749 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	9 Months Ended
	Sep. 30, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following (in thousands): As of As of Real estate development costs to complete $ 15,815 $ 24,222 Compensation and employee benefits 43,753 51,475 Self-insurance and warranty reserves 43,923 44,595 Interest payable 25,572 22,033 Property and sales taxes payable 16,290 12,808 Other accruals 58,480 45,423 Total accrued expenses and other liabilities $ 203,833 $ 200,556 Self-Insurance and Warranty Reserves – A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Reserve - beginning of period $ 42,589 $ 40,287 $ 44,595 $ 34,814 Additions to reserves 5,629 6,113 13,143 13,820 Costs and claims incurred (5,032 ) (4,897 ) (16,482 ) (11,957 ) Change in estimates to pre-existing reserves 737 (1,195 ) 2,667 3,631 Reserve - end of period $ 43,923 $ 40,308 $ 43,923 $ 40,308

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT Total debt consists of the following (in thousands): As of (Dollars in thousands) September 30, 2015 December 31, 2014 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 $6.6 million and $7.5 million of unamortized debt issuance costs at September 30, 2015 and December 31, 2014, respectively 550,000 550,000 5.875% Senior Notes due 2023, unsecured, with $4.3 million of unamortized debt issuance costs at September 30, 2015 350,000 — 5.625% Senior Notes due 2024, unsecured, with $4.5 million and $4.9 million of unamortized debt issuance costs at September 30, 2015 and December 31, 2014, respectively 350,000 350,000 Senior Notes subtotal $ 1,250,000 $ 1,388,840 Loans payable and other borrowings 145,589 147,516 $500.0 million Revolving Credit Facility with $5.4 million and $5.6 million of unamortized debt issuance costs at September 30, 2015 and December 31, 2014, respectively 230,000 40,000 Mortgage warehouse borrowings 74,128 160,750 Total Senior Notes and bank financing $ 1,699,717 $ 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, the 2023 Senior Notes (as defined below), together with cash on hand. See 2023 Senior Notes and Redemption of 2020 Senior Notes below for additional information regarding the redemption of the 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 mature on April 15, 2021. 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 and are not subject to registration rights. 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. We are also required to offer to repurchase the 2021 Senior Notes at a price equal to 101% of their aggregate principal amount (plus accrued and unpaid interest) upon certain change of control events. 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 7.75% 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 Senior Notes. The 2023 Senior Notes and the guarantees are senior unsecured obligations. The indenture governing the 2023 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 2023 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 2023 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 2023 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 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 and are not subject to registration rights. 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 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 to $500.0 million , extended the maturity of the Revolving Credit Facility to April 12, 2019 and reduced certain margins payable thereunder. The Revolving Credit Facility is guaranteed by the same Guarantors that guarantee the 2021 Senior Notes. The Revolving Credit Facility contains certain “springing” financial covenants, requiring us and our subsidiaries to comply with a maximum debt to capitalization ratio of not more than 0.60 to 1.00 and a minimum consolidated tangible net worth level of at least $1.4 billion . 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 we may exercise an equity cure by issuing certain permitted securities for cash or otherwise recording cash contributions to our 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. Our debt to total capitalization ratio at September 30, 2015 was 0.44 to 1.00. At September 30, 2015 , our tangible net worth, as defined in the Revolving Credit Facility, was $1.9 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 (including financial covenants, subject to the exercise of an equity cure), 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 September 30, 2015 , we were in compliance with all of the covenants under the Revolving Credit Facility. Mortgage Borrowings The following is a summary of our mortgage subsidiary borrowings (in thousands): As of September 30, 2015 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 25,451 $ 55,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica — 50,000 LIBOR + 2.75% November 17, 2015 Mortgage Loans J.P. Morgan 48,677 100,000 (2) September 26, 2016 Pledged Cash Total $ 74,128 $ 205,000 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 (2) September 28, 2015 Pledged Cash Total $ 160,750 $ 235,000 (1) The mortgage borrowings outstanding as of September 30, 2015 and December 31, 2014 , are collateralized by $104.1 million and $191.1 million , respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale and $1.3 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) As of December 31, 2014 and through the date of expiration of September 28, 2015, interest under the J.P. Morgan agreement ranged from 2.375% plus 30-day LIBOR to 2.875% plus 30-day LIBOR or 0.25% (whichever was greater). The agreement was renewed in September 2015 setting the interest rate at 2.375% plus 30-day LIBOR. Loans Payable and Other Borrowings Loans payable and other borrowings as of September 30, 2015 and December 31, 2014 consist of project-level debt due to various land sellers and seller financing notes from current and prior year acquisitions. Project-level debt is generally secured by the land that was acquired and the principal payments generally coincide with corresponding project lot sales or a principal reduction schedule. Loans payable bear interest at rates that ranged from 0% to 8% at September 30, 2015 and December 31, 2014 . We impute interest for loans with no stated interest rates. The weighted average interest rate on $110.9 million of the loans as of September 30, 2015 was 5.4% per annum, and $34.7 million of the loans were non-interest bearing.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures	FAIR VALUE DISCLOSURES We have adopted ASC Topic 820, Fair Value Measurements, for valuation of financial instruments. ASC Topic 820 provides a framework for measuring fair value under GAAP, expands disclosures about fair value measurements, and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the fair value hierarchy are summarized as follows: Level 1 — Fair value is based on quoted prices for identical assets or liabilities in active markets. Level 2 — Fair value is determined using quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active or are directly or indirectly observable. Level 3 — Fair value is determined using one or more significant inputs that are unobservable in active markets at the measurement date, such as a pricing model, discounted cash flow, or similar technique. 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): September 30, 2015 December 31, 2014 Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Description: Mortgage loans held for sale 2 $ 104,094 $ 104,094 $ 191,140 $ 191,140 Mortgage borrowings 2 74,128 74,128 160,750 160,750 Loans payable and other borrowings 2 145,589 145,589 147,516 147,516 7.75% Senior Notes due 2020 2 — — 488,840 518,170 5.25% Senior Notes due 2021 2 550,000 545,875 550,000 539,000 5.875% Senior Notes due 2023 2 350,000 350,000 — — 5.625% Senior Notes due 2024 2 350,000 336,000 350,000 336,000 Revolving Credit Facility 2 230,000 230,000 40,000 40,000 Contingent consideration liability 3 23,797 23,797 17,932 17,932

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective tax rate for the three and nine months ended September 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 certain preferential treatment of deductions relating to homebuilding activities. As of September 30, 2015 , cumulative gross unrecognized tax benefits were $7.2 million , and all unrecognized tax benefits, if recognized, would affect the effective tax rate. As of December 31, 2014 , cumulative gross unrecognized tax benefits were $2.4 million . These amounts are partially included in deferred tax assets and income taxes payable in the accompanying Condensed Consolidated Balance Sheets at September 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 net operating losses and built-in losses, and tax planning alternatives.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY Capital Stock — 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. The holders of Class A Common Stock and Class B Common Stock vote together as a single class on all matters submitted to stockholders for their vote or approval, except with respect to the amendment of certain provisions of the amended and restated Certificate of Incorporation that would alter or change the powers, preferences or special rights of the Class B Common Stock so as to affect them adversely. Such amendments must be approved by a majority of the votes entitled to be cast by the holders of the shares affected by the amendment, voting as a separate class, or as otherwise required by applicable law. The voting power of the outstanding Class B Common Stock (expressed as a percentage of the total voting power of all common stock) is equal to the percentage of partnership interests in New TMM not held directly or indirectly by TMHC. The components and respective voting power of our outstanding Common Stock at September 30, 2015 are as follows: Shares Outstanding Percentage Class A Common Stock 33,158,855 27.1 % Class B Common Stock 89,108,569 72.9 % Total 122,267,424 100 %

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	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 equity awards based on our common stock. As of we had an aggregate of 5,819,833 shares of Class A 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 Nine Months Ended 2015 2014 2015 2014 Restricted Stock Units (RSUs) (1) $ 964 $ 335 $ 2,389 $ 944 Stock options 779 753 3,577 2,153 New TMM Units 384 419 1,296 1,230 Total stock compensation (2) $ 2,127 $ 1,507 $ 7,262 $ 4,327 (1) Includes compensation expense related to restricted stock units and performance based restricted stock units. (2) Included in the table above for the nine months ended September 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 nine months ended September 30, 2015 . At September 30, 2015 and December 31, 2014 , the aggregate unrecognized value of all outstanding stock-based compensation awards was approximately $18.9 million and $16.0 million , respectively. Restricted Stock – The following table summarizes the restricted stock unit and performance-based restricted stock unit activity for the nine month period: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2014 185,679 $ 24.19 Granted 445,485 18.46 Vested (11,260 ) 22.98 Forfeited (12,614 ) 22.29 Balance at September 30, 2015 607,290 $ 20.03 During the three and nine months ended September 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 years 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 – The following table summarizes the stock option activity for the nine months ended September 30, 2015: Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2014 1,325,029 $ 22.35 Granted 400,258 18.78 Exercised — — Canceled/Forfeited (211,397 ) 24.69 Outstanding at September 30, 2015 1,513,890 $ 21.08 Options exercisable at September 30, 2015 273,293 $ 21.98 During the three and nine months ended September 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 – Certain members of management and certain members of the Board of Directors were issued Class M partnership units in TMM Holdings. Those units were subject to both time and performance vesting conditions. In addition, TMM Holdings issued phantom Class M Units to certain employees who resided in Canada, which are treated as Class M Units for the purposes of this description and the financial statements. In connection with the sale of Monarch, all of the phantom Class M Units were settled pursuant to change in control provisions provided for in the award agreement. In the nine months ended September 30, 2015 , we paid $1.4 million in settlement of these awards, however there was no activity for the three months ended September 30, 2015 . 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 September 30, 2015 were as follows: Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2014 1,431,721 $ 5.11 Granted — — Exchanges (1) (87,055 ) 3.88 Forfeited (2) (31,792 ) 5.24 Balance at September 30, 2015 1,312,874 $ 5.45 (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 canceled.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related-Party Transactions	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. For the three months ended September 30, 2015 , there were no such transactions and for the nine months ended September 30, 2015 , there were $16.8 million in real estate inventory acquisitions from such affiliates. For the three and nine months ended September 30, 2014 , there were $9.5 million and $40.5 million in real estate inventory acquisitions from such affiliates, 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME The table below provides the components of accumulated other comprehensive income (loss) for the nine months ended September 30, 2015 (in thousands): Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 692 $ (52,148 ) $ 40,546 $ (10,910 ) Other comprehensive income/(loss) before reclassifications 269 (27,779 ) — (27,510 ) Gross amounts reclassified from accumulated other comprehensive income 1,488 — — 1,488 Foreign currency translation 518 — (518 ) — Other comprehensive income/(loss), net of tax $ 2,275 $ (27,779 ) $ (518 ) $ (26,022 ) Gross amounts reclassified within accumulated other comprehensive (loss)/income (2,289 ) — 21,262 18,973 Balance, end of period $ 678 $ (79,927 ) $ 61,290 $ (17,959 ) 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	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Operating and Reporting Segments	OPERATING AND REPORTING SEGMENTS We have fifteen 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, Raleigh, Charlotte and Atlanta West Denver, Chicago, 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 September 30, 2015 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 479,025 $ 305,947 $ 11,316 $ — $ 796,288 Gross margin 96,991 48,127 4,354 — 149,472 Selling, general and administrative expenses (42,462 ) (19,822 ) (2 ) (16,460 ) (78,746 ) Equity in (loss)/income of unconsolidated entities (427 ) (197 ) 504 — (120 ) Interest and other (expense)/income (3,938 ) (108 ) — 1,686 (2,360 ) Income from continuing operations before income taxes $ 50,164 $ 28,000 $ 4,856 $ (14,774 ) $ 68,246 Three Months Ended September 30, 2014 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 346,065 $ 274,698 $ 8,433 $ — $ 629,196 Gross margin 76,975 51,600 3,376 — 131,951 Selling, general and administrative expenses (31,375 ) (17,410 ) — (11,761 ) (60,546 ) Equity in income/(loss) of unconsolidated entities 971 (9 ) 269 — 1,231 Interest and other (expense)/income (4,102 ) 361 — 155 (3,586 ) Income from continuing operations before income taxes $ 42,469 $ 34,542 $ 3,645 $ (11,606 ) $ 69,050 Nine Months Ended September 30, 2015 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 1,229,910 $ 747,972 $ 28,794 $ — $ 2,006,676 Gross margin 249,532 120,507 10,674 — 380,713 Selling, general and administrative expenses (111,295 ) (50,633 ) (2 ) (44,965 ) (206,895 ) Equity in income/(loss) of unconsolidated entities 429 (619 ) 1,598 — 1,408 Interest and other (expense)/income (11,986 ) 421 — 105 (11,460 ) 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 $ 126,680 $ 69,676 $ 12,270 $ (48,194 ) $ 160,432 Nine Months Ended September 30, 2014 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 968,489 $ 705,320 $ 22,870 $ — $ 1,696,679 Gross margin 213,204 140,251 9,229 — 362,684 Selling, general and administrative expenses (90,279 ) (47,273 ) — (34,389 ) (171,941 ) Equity in income of unconsolidated entities 1,842 467 1,159 — 3,468 Interest and other (expense)/income (12,266 ) 321 — 248 (11,697 ) Income from continuing operations before income taxes $ 112,501 $ 93,766 $ 10,388 $ (34,141 ) $ 182,514 As of East West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,660,653 $ 1,503,896 $ — $ — $ 3,164,549 Investments in unconsolidated entities 52,708 71,867 1,784 — 126,359 Other assets 240,367 58,441 119,537 412,415 830,760 Total assets $ 1,953,728 $ 1,634,204 $ 121,321 $ 412,415 $ 4,121,668 As of East West Mortgage Operations Corporate and Unallocated Assets of Discontinued Operations 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	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit and Surety Bonds — We are committed, under various letters of credit and surety bonds, to perform certain development and construction activities and provide certain guarantees in the normal course of business. Outstanding letters of credit and surety bonds under these arrangements totaled $364.7 million and $315.6 million as of September 30, 2015 and December 31, 2014 , respectively. Although significant development and construction activities have been completed related to these site improvements, the bonds are generally not released until all development and construction activities are completed. We do not believe that it is probable that any outstanding bonds as of September 30, 2015 will be drawn upon. Legal Proceedings — We are involved in various litigation and legal claims in the normal course of our business operations, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. At September 30, 2015 and December 31, 2014 , our legal accruals were $1.2 million and $0.9 million , respectively. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. In view of the inherent difficulty of predicting the outcome of these legal and regulatory matters, we generally cannot predict the ultimate resolution of the pending matters, the related timing, or the eventual loss. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. However, to the extent the liability arising from the ultimate resolution of any matter exceeds the estimates reflected in the recorded reserves relating to such matter, we could incur additional charges that could be significant.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation — The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our 2014 Annual Report on Form 10-K. In the opinion of management, the accompanying Condensed Consolidated Financial Statements include all normal and recurring adjustments that are considered necessary for the fair presentation of our results for the interim periods presented. Results for interim periods are not necessarily indicative of results to be expected for a full fiscal year. 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 – As a result of our decision in December 2014 to dispose of Monarch, the operating results and financial position of the Monarch business are presented as discontinued operations for all periods presented.
Non-controlling interests	Non-controlling interests – In the Reorganization Transactions, the Company became the sole owner of the general partner of New TMM. As the general partner of New TMM, the Company exercises exclusive and complete control over New TMM. Consequently, the Company consolidates New TMM and records a non-controlling interest in the Condensed Consolidated Balance Sheets for the economic interests in New TMM, that are directly or indirectly held by the Principal Equityholders or by members of management and the Board of Directors.
Purchase Price Allocation and Related Acquisition Accounting	Purchase Price Allocation and Related Acquisition Accounting — On April 30, 2015 , we acquired JEH Homes, an Atlanta based homebuilder, for a purchase price of approximately $63.2 million , excluding contingent consideration. On July 21, 2015, we completed the acquisition of the Charlotte, Raleigh, and Chicago divisions of Orleans Homes for a purchase price of approximately $167.3 million , consisting of $ 162.3 million of cash and $ 5.0 million of seller financing. In accordance with ASC Topic 805 , Business Combinations , the effects of the acquisitions were reflected on the date of the transactions in the financial statements of the acquired businesses by allocating purchase price and recording the assets at their fair values in order to reflect the purchase price paid, which resulted in goodwill for each acquisition. For both acquisitions, we determined the fair value of real estate inventory on a community-by-community basis primarily using the sales comparison and income approaches. The sales comparison approach was used for all inventory in process. The income approach derives a value using a discounted cash flow for income-producing real property. This approach was used exclusively for finished lots. The income approach using discounted cash flows was also used to value lot option contracts acquired. These estimated cash flows and ultimate valuation 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, overhead costs and may vary significantly between communities. The Company has completed a preliminary allocation of purchase price as of September 30, 2015 and expects to finalize the allocation within one year from the date of each acquisition. The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created as of September 30, 2015 (in thousands): JEH Homes Orleans Homes Total Acquisition Date April 30, 2015 July 21, 2015 Assets Acquired Real estate inventory $ 55,559 $ 140,602 $ 196,161 Land deposits — 2,236 $ 2,236 Prepaid expenses and other assets 1,301 2,436 $ 3,737 Property and equipment 395 623 $ 1,018 Goodwill 9,125 25,198 $ 34,323 Total assets 66,380 171,095 237,475 Less Liabilities Assumed Accrued expenses and other liabilities — 2,700 2,700 Customer deposits — 1,081 1,081 Less contingent consideration $ 3,200 $ — $ 3,200 Net Assets Acquired 63,180 167,314 230,494
Use of Estimates	Use of Estimates — The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of acquired assets, valuation of equity awards, valuation allowance on deferred tax assets and reserves for warranty and self-insured risks. Actual results could differ from those estimates.
Non-controlling Interests - Principal Equityholders	Non-controlling Interests – Principal Equityholders – Immediately prior to our IPO, as part of the Reorganization Transactions, the existing holders of TMM Holdings’ limited partnership interests exchanged their limited partnership interests for limited partnership interests of New TMM (“New TMM Units”). For each New TMM Unit received in the exchange, the holders of New TMM Units also received a corresponding number of shares of our Class B Common Stock (the “Class B Common Stock”). Our Class B Common Stock has voting rights but no economic rights. 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 terms of 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.
Stock Based Compensation	Stock Based Compensation — We account for stock-based compensation in accordance with ASC Topic 718-10, Compensation – Stock Compensation. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option pricing model. We use a Monte Carlo model for the valuation of our restricted stock grants that have a market condition. These models require the input of subjective assumptions. This guidance also requires us to estimate forfeitures in calculating the expense related to stock-based compensation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements — In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which changes the presentation of debt issuance costs in financial statements. Under this ASU, such costs are presented in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs continues to be reported as interest expense. ASU 2015-03 will be effective for us in our fiscal year beginning January 1, 2016. The adoption of ASU 2015-03 is not expected to have a material effect on our condensed consolidated financial statements or disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 amends the consolidation requirements and changes the required consolidation analysis. ASU 2015-02 requires management to reevaluate all legal entities under a revised consolidation model specifically to (i) modify the evaluation of whether limited partnership and similar legal entities are variable interest entities (“VIEs”), (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with VIEs particularly those that have fee arrangements and related party relationships, and (iv) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU 2015-02 will be effective for us for our fiscal year beginning January 1, 2016. The adoption of ASU 2015-02 is not expected to have a material effect on our condensed consolidated financial statements or disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition , and most industry-specific guidance. This ASU also supersedes some cost guidance included in ASC Subtopic 605-35, Revenue Recognition-Construction-Type and Production-Type Contracts . The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will generally need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 has been deferred and will be effective beginning January 1, 2018 and, at that time, we will adopt the new standard under either the full retrospective approach or the modified retrospective approach. Early adoption is not permitted. We are currently evaluating the method and impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements or disclosures.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 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, liabilities assumed, and liabilities created as of September 30, 2015 (in thousands): JEH Homes Orleans Homes Total Acquisition Date April 30, 2015 July 21, 2015 Assets Acquired Real estate inventory $ 55,559 $ 140,602 $ 196,161 Land deposits — 2,236 $ 2,236 Prepaid expenses and other assets 1,301 2,436 $ 3,737 Property and equipment 395 623 $ 1,018 Goodwill 9,125 25,198 $ 34,323 Total assets 66,380 171,095 237,475 Less Liabilities Assumed Accrued expenses and other liabilities — 2,700 2,700 Customer deposits — 1,081 1,081 Less contingent consideration $ 3,200 $ — $ 3,200 Net Assets Acquired 63,180 167,314 230,494

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Summary of Earnings Per Common Share	The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Numerator: Net income available to TMHC – basic $ 12,344 $ 17,846 $ 43,382 $ 43,594 Income from discontinued operations, net of tax — 16,666 56,662 31,058 Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders — (12,160 ) (41,381 ) (22,682 ) Net income from discontinued operations – basic $ — $ 4,506 $ 15,281 $ 8,376 Net income from continuing operations – basic $ 12,344 $ 13,340 $ 28,101 $ 35,218 Net income from continuing operations – basic $ 12,344 $ 13,340 $ 28,101 $ 35,218 Net income from continuing operations attributable to non-controlling interest – Principal Equityholders 33,312 36,122 76,470 96,308 Loss fully attributable to public holding company 5 26 234 270 Net income from continuing operations – diluted $ 45,661 $ 49,488 $ 104,805 $ 131,796 Net income from discontinued operations – diluted $ — $ 16,666 $ 56,662 $ 31,058 Denominator: Weighted average shares – basic (Class A) 33,122 32,956 33,088 32,896 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 89,158 89,330 89,188 89,405 Restricted stock units 178 52 136 44 Stock Options — — — — Weighted average shares – diluted 122,458 122,338 122,412 122,345 Earnings per common share – basic: Income from continuing operations $ 0.37 $ 0.40 $ 0.85 $ 1.07 Income from discontinued operations, nets of tax $ — $ 0.14 $ 0.46 $ 0.26 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.54 $ 1.31 $ 1.33 Earnings per common share – diluted: Income from continuing operations $ 0.37 $ 0.40 $ 0.85 $ 1.07 Income from discontinued operations, net of tax $ — $ 0.14 $ 0.46 $ 0.26 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.54 $ 1.31 $ 1.33

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 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 Total 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 Total liabilities of discontinued operations $ 168,565

Real Estate Inventory and Lan30

Real Estate Inventory and Land Deposits (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of September 30, 2015 December 31, 2014 Operating communities, including capitalized interest $ 2,924,713 $ 2,217,067 Real estate held for development or held for sale 202,797 294,556 Total owned inventory 3,127,510 2,511,623 Real estate not owned under option contracts 1,683 6,698 Total real estate inventory $ 3,129,193 $ 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 September 30, 2015 December 31, 2014 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 8,642 $ 397,590 9,825 $ 464,882 Partially developed 8,209 551,794 8,680 654,759 Finished 12,673 1,314,693 8,727 787,033 Long-term strategic assets 3,264 14,730 3,564 27,993 Total 32,788 $ 2,278,807 30,796 $ 1,934,667
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest capitalized - beginning of period $ 106,470 $ 87,227 $ 94,880 $ 71,263 Interest incurred 22,401 25,167 70,708 65,619 Interest amortized to cost of home closings (21,886 ) (15,227 ) (58,603 ) (39,715 ) Interest capitalized - end of period $ 106,985 $ 97,167 $ 106,985 $ 97,167

Investments in Unconsolidated31

Investments in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 December 31, Assets: Real estate inventory $ 562,320 $ 396,858 Other assets 102,413 59,963 Total assets $ 664,733 $ 456,821 Liabilities and owners’ equity: Debt $ 234,101 $ 129,561 Other liabilities 16,500 8,870 Total liabilities 250,601 138,431 Owners’ equity: TMHC 126,359 110,291 Others 287,773 208,099 Total owners’ equity 414,132 318,390 Total liabilities and owners’ equity $ 664,733 $ 456,821 Three Months Ended Nine Months Ended 2015 2014 2015 2014 Revenues $ 2,206 $ 4,805 $ 19,430 $ 13,468 Costs and expenses (2,242 ) (3,046 ) (15,980 ) (7,100 ) (Loss)/Income of unconsolidated entities $ (36 ) $ 1,759 $ 3,450 $ 6,368 Company’s share in (loss)/income of unconsolidated entities $ (120 ) $ 1,231 $ 1,408 $ 3,468 Distributions of earnings from unconsolidated entities $ 442 $ 998 $ 8,736 $ 2,749

Accrued Expenses and Other Li32

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 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 As of Real estate development costs to complete $ 15,815 $ 24,222 Compensation and employee benefits 43,753 51,475 Self-insurance and warranty reserves 43,923 44,595 Interest payable 25,572 22,033 Property and sales taxes payable 16,290 12,808 Other accruals 58,480 45,423 Total accrued expenses and other liabilities $ 203,833 $ 200,556
Summary of Changes in Reserves	Self-Insurance and Warranty Reserves – A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Reserve - beginning of period $ 42,589 $ 40,287 $ 44,595 $ 34,814 Additions to reserves 5,629 6,113 13,143 13,820 Costs and claims incurred (5,032 ) (4,897 ) (16,482 ) (11,957 ) Change in estimates to pre-existing reserves 737 (1,195 ) 2,667 3,631 Reserve - end of period $ 43,923 $ 40,308 $ 43,923 $ 40,308

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Senior Notes and Other Borrowings	Total debt consists of the following (in thousands): As of (Dollars in thousands) September 30, 2015 December 31, 2014 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 $6.6 million and $7.5 million of unamortized debt issuance costs at September 30, 2015 and December 31, 2014, respectively 550,000 550,000 5.875% Senior Notes due 2023, unsecured, with $4.3 million of unamortized debt issuance costs at September 30, 2015 350,000 — 5.625% Senior Notes due 2024, unsecured, with $4.5 million and $4.9 million of unamortized debt issuance costs at September 30, 2015 and December 31, 2014, respectively 350,000 350,000 Senior Notes subtotal $ 1,250,000 $ 1,388,840 Loans payable and other borrowings 145,589 147,516 $500.0 million Revolving Credit Facility with $5.4 million and $5.6 million of unamortized debt issuance costs at September 30, 2015 and December 31, 2014, respectively 230,000 40,000 Mortgage warehouse borrowings 74,128 160,750 Total Senior Notes and bank financing $ 1,699,717 $ 1,737,106
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage subsidiary borrowings (in thousands): As of September 30, 2015 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 25,451 $ 55,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica — 50,000 LIBOR + 2.75% November 17, 2015 Mortgage Loans J.P. Morgan 48,677 100,000 (2) September 26, 2016 Pledged Cash Total $ 74,128 $ 205,000 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 (2) September 28, 2015 Pledged Cash Total $ 160,750 $ 235,000 (1) The mortgage borrowings outstanding as of September 30, 2015 and December 31, 2014 , are collateralized by $104.1 million and $191.1 million , respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale and $1.3 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) As of December 31, 2014 and through the date of expiration of September 28, 2015, interest under the J.P. Morgan agreement ranged from 2.375% plus 30-day LIBOR to 2.875% plus 30-day LIBOR or 0.25% (whichever was greater). The agreement was renewed in September 2015 setting the interest rate at 2.375% plus 30-day LIBOR.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 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): September 30, 2015 December 31, 2014 Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Description: Mortgage loans held for sale 2 $ 104,094 $ 104,094 $ 191,140 $ 191,140 Mortgage borrowings 2 74,128 74,128 160,750 160,750 Loans payable and other borrowings 2 145,589 145,589 147,516 147,516 7.75% Senior Notes due 2020 2 — — 488,840 518,170 5.25% Senior Notes due 2021 2 550,000 545,875 550,000 539,000 5.875% Senior Notes due 2023 2 350,000 350,000 — — 5.625% Senior Notes due 2024 2 350,000 336,000 350,000 336,000 Revolving Credit Facility 2 230,000 230,000 40,000 40,000 Contingent consideration liability 3 23,797 23,797 17,932 17,932

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Components and Voting Power of Outstanding Common Stock	The components and respective voting power of our outstanding Common Stock at September 30, 2015 are as follows: Shares Outstanding Percentage Class A Common Stock 33,158,855 27.1 % Class B Common Stock 89,108,569 72.9 % Total 122,267,424 100 %

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended 2015 2014 2015 2014 Restricted Stock Units (RSUs) (1) $ 964 $ 335 $ 2,389 $ 944 Stock options 779 753 3,577 2,153 New TMM Units 384 419 1,296 1,230 Total stock compensation (2) $ 2,127 $ 1,507 $ 7,262 $ 4,327 (1) Includes compensation expense related to restricted stock units and performance based restricted stock units. (2) Included in the table above for the nine months ended September 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 nine months ended September 30, 2015 .
Summary of Activity of Stock Units	he following table summarizes the stock option activity for the nine months ended September 30, 2015: Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2014 1,325,029 $ 22.35 Granted 400,258 18.78 Exercised — — Canceled/Forfeited (211,397 ) 24.69 Outstanding at September 30, 2015 1,513,890 $ 21.08 Options exercisable at September 30, 2015 273,293 $ 21.98
Summary of Stock Option Activity	The shares of Class B Common Stock/New TMM Units outstanding as of September 30, 2015 were as follows: Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2014 1,431,721 $ 5.11 Granted — — Exchanges (1) (87,055 ) 3.88 Forfeited (2) (31,792 ) 5.24 Balance at September 30, 2015 1,312,874 $ 5.45 (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 canceled.
Restricted Stock Units and Performance Based Restricted Stock Units [Member]
Summary of Activity of Stock Units	Restricted Stock – The following table summarizes the restricted stock unit and performance-based restricted stock unit activity for the nine month period: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2014 185,679 $ 24.19 Granted 445,485 18.46 Vested (11,260 ) 22.98 Forfeited (12,614 ) 22.29 Balance at September 30, 2015 607,290 $ 20.03
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 September 30, 2015 were as follows: Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2014 1,431,721 $ 5.11 Granted — — Exchanges (1) (87,055 ) 3.88 Forfeited (2) (31,792 ) 5.24 Balance at September 30, 2015 1,312,874 $ 5.45 (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 canceled.

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2015 (in thousands): Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 692 $ (52,148 ) $ 40,546 $ (10,910 ) Other comprehensive income/(loss) before reclassifications 269 (27,779 ) — (27,510 ) Gross amounts reclassified from accumulated other comprehensive income 1,488 — — 1,488 Foreign currency translation 518 — (518 ) — Other comprehensive income/(loss), net of tax $ 2,275 $ (27,779 ) $ (518 ) $ (26,022 ) Gross amounts reclassified within accumulated other comprehensive (loss)/income (2,289 ) — 21,262 18,973 Balance, end of period $ 678 $ (79,927 ) $ 61,290 $ (17,959 )

Operating and Reporting Segme38

Operating and Reporting Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information Excluding Discontinued Operations	Segment information, excluding discontinued operations, is as follows (in thousands): Three Months Ended September 30, 2015 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 479,025 $ 305,947 $ 11,316 $ — $ 796,288 Gross margin 96,991 48,127 4,354 — 149,472 Selling, general and administrative expenses (42,462 ) (19,822 ) (2 ) (16,460 ) (78,746 ) Equity in (loss)/income of unconsolidated entities (427 ) (197 ) 504 — (120 ) Interest and other (expense)/income (3,938 ) (108 ) — 1,686 (2,360 ) Income from continuing operations before income taxes $ 50,164 $ 28,000 $ 4,856 $ (14,774 ) $ 68,246 Three Months Ended September 30, 2014 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 346,065 $ 274,698 $ 8,433 $ — $ 629,196 Gross margin 76,975 51,600 3,376 — 131,951 Selling, general and administrative expenses (31,375 ) (17,410 ) — (11,761 ) (60,546 ) Equity in income/(loss) of unconsolidated entities 971 (9 ) 269 — 1,231 Interest and other (expense)/income (4,102 ) 361 — 155 (3,586 ) Income from continuing operations before income taxes $ 42,469 $ 34,542 $ 3,645 $ (11,606 ) $ 69,050 Nine Months Ended September 30, 2015 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 1,229,910 $ 747,972 $ 28,794 $ — $ 2,006,676 Gross margin 249,532 120,507 10,674 — 380,713 Selling, general and administrative expenses (111,295 ) (50,633 ) (2 ) (44,965 ) (206,895 ) Equity in income/(loss) of unconsolidated entities 429 (619 ) 1,598 — 1,408 Interest and other (expense)/income (11,986 ) 421 — 105 (11,460 ) 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 $ 126,680 $ 69,676 $ 12,270 $ (48,194 ) $ 160,432 Nine Months Ended September 30, 2014 East West Mortgage Operations Corporate and Unallocated Total Total revenues $ 968,489 $ 705,320 $ 22,870 $ — $ 1,696,679 Gross margin 213,204 140,251 9,229 — 362,684 Selling, general and administrative expenses (90,279 ) (47,273 ) — (34,389 ) (171,941 ) Equity in income of unconsolidated entities 1,842 467 1,159 — 3,468 Interest and other (expense)/income (12,266 ) 321 — 248 (11,697 ) Income from continuing operations before income taxes $ 112,501 $ 93,766 $ 10,388 $ (34,141 ) $ 182,514
Assets from Segment	As of East West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,660,653 $ 1,503,896 $ — $ — $ 3,164,549 Investments in unconsolidated entities 52,708 71,867 1,784 — 126,359 Other assets 240,367 58,441 119,537 412,415 830,760 Total assets $ 1,953,728 $ 1,634,204 $ 121,321 $ 412,415 $ 4,121,668 As of East West Mortgage Operations Corporate and Unallocated Assets of Discontinued Operations 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 Millions	Jul. 21, 2015USD ($)division	Apr. 30, 2015USD ($)	Sep. 30, 2015Operations$ / shares	Sep. 30, 2015$ / shares	Sep. 30, 2015Segment$ / shares	Dec. 31, 2014$ / shares	Apr. 12, 2013$ / shares
Reportable segments | Segment					3
Principal Equityholders owned percentage				100.00%
JEH Homes [Member]
Purchase price | $		$ 63.2
Orleans Homes [Member]
Purchase price | $	$ 167.3
Number of divisions acquired (in division) | division	3
Mortgage [Member]
Reportable segments			1		1
Homebuilding [Member]
Reportable segments | Segment					2
Operating divisions | Operations			15
Common Class A [Member]
Common stock, par value			$ 0.00001	$ 0.00001	$ 0.00001	$ 0.00001	$ 0.00001
Principal Equityholders owned percentage				27.10%
Common Class B [Member]
Common stock, par value			$ 0.00001	$ 0.00001	$ 0.00001	$ 0.00001
Principal Equityholders owned percentage				72.90%		72.90%

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 21, 2015	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Apr. 09, 2015
Significant Accounting Policies [Line Items]
Payments for business acquisitions			$ 220,899	$ 0
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 terms of 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.
Number of shares issued for each share of Class B Common Stock and TMM Unit converted (in shares)					1
JEH Homes [Member]
Significant Accounting Policies [Line Items]
Acquisition date			Apr. 30, 2015
Payments for business acquisitions		$ 63,200
Purchase price		$ 63,200
Orleans Homes [Member]
Significant Accounting Policies [Line Items]
Payments for business acquisitions	$ 162,300
Purchase price	167,300
Seller carryback note	$ 5,000

Summary of Significant Accoun41

Summary of Significant Accounting Policies - Summary of Fair Value of Assets Acquired and Liabilities Created (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jul. 21, 2015	Apr. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 57,698			$ 23,375
JEH Homes [Member]
Business Acquisition [Line Items]
Real estate inventory			$ 55,559
Land deposits			0
Prepaid expenses and other assets			1,301
Property and equipment			395
Goodwill			9,125
Total assets			66,380
Less Liabilities Assumed
Accrued expenses and other liabilities			0
Customer deposits			0
Less contingent consideration			3,200
Purchase price, net			$ 63,180
Orleans Homes [Member]
Business Acquisition [Line Items]
Real estate inventory		$ 140,602
Land deposits		2,236
Prepaid expenses and other assets		2,436
Property and equipment		623
Goodwill		25,198
Total assets		171,095
Less Liabilities Assumed
Accrued expenses and other liabilities		2,700
Customer deposits		1,081
Less contingent consideration		0
Purchase price, net		$ 167,314
Businesses Acquired In Current Fiscal Period [Member]
Business Acquisition [Line Items]
Real estate inventory	196,161
Land deposits	2,236
Prepaid expenses and other assets	3,737
Property and equipment	1,018
Goodwill	34,323
Total assets	237,475
Less Liabilities Assumed
Accrued expenses and other liabilities	2,700
Customer deposits	1,081
Less contingent consideration	3,200
Purchase price, net	$ 230,494

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income available to TMHC - basic	$ 12,344	$ 17,846	$ 43,382	$ 43,594
Income from discontinued operations, net of tax	0	16,666	56,662	31,058
Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders	0	(12,160)	(41,381)	(22,682)
Net income from discontinued operations – basic	0	4,506	15,281	8,376
Net income from continuing operations - basic	12,344	13,340	28,101	35,218
Net income from continuing operations - basic	12,344	13,340	28,101	35,218
Net income from continuing operations attributable to non-controlling interest – Principal Equityholders	33,312	36,122	76,470	96,308
Loss fully attributable to public holding company	5	26	234	270
Net income from continuing operations – diluted	45,661	49,488	104,805	131,796
Net income from discontinued operations - diluted	$ 0	$ 16,666	$ 56,662	$ 31,058
Denominator:
Weighted average shares - basic (Class A) (in shares)	33,122	32,956	33,088	32,896
Weighted average shares - Principal Equityholders' non-controlling interest (Class B) (in shares)	89,158	89,330	89,188	89,405
Restricted stock units (in shares)	178	52	136	44
Stock Options (in shares)	0	0	0	0
Weighted average shares - diluted (in shares)	122,458	122,338	122,412	122,345
Earnings per common share - basic:
Income from continuing operations (usd per share)	$ 0.37	$ 0.40	$ 0.85	$ 1.07
Income from discontinued operations, nets of tax (usd per share)	0	0.14	0.46	0.26
Net income available to Taylor Morrison Home Corporation (usd per share)	0.37	0.54	1.31	1.33
Earnings per common share - diluted:
Income from continuing operations (usd per share)	0.37	0.40	0.85	1.07
Income from discontinued operations, net of tax (usd per share)	0	0.14	0.46	0.26
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.37	$ 0.54	$ 1.31	$ 1.33

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 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	1,531,404	1,294,149	1,543,056	1,267,665

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
Revenues related to Monarch	$ 0	$ 129,800,000	$ 0	$ 239,300,000

Discontinued Operations - Sched

Discontinued Operations - Schedule of Discontinued Operations, Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Discontinued Operations and Disposal Groups [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
Total assets of discontinued operations	$ 0	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
Total liabilities of discontinued operations	$ 0	$ 168,565

Derivative Financial Instrume46

Derivative Financial Instrument - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Gain on foreign currency forward	$ 0	$ 0	$ 29,983	$ 0
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Aggregate derivative notional amount					$ 471,200
Derivative financial instrument final settlement date			Jan. 30, 2015

Real Estate Inventory and Lan47

Real Estate Inventory and Land Deposits - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Lot	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Lot	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)Lot
Real Estate [Abstract]
Asset impairment charges	$ 0	$ 0	$ 0	$ 0
Right to purchase lots of land option | Lot	9,578		9,578		5,372
Aggregate purchase price	$ 798,100,000		$ 798,100,000		$ 323,500,000
Non-refundable option deposits	35,400,000		35,400,000		$ 34,500,000
Impairment of option deposits and capitalized pre-acquisition costs	$ 0	$ 0	$ 0	$ 0

Real Estate Inventory and Lan48

Real Estate Inventory and Land Deposits - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Real Estate [Abstract]
Operating communities, including capitalized interest	$ 2,924,713	$ 2,217,067
Real estate held for development or held for sale	202,797	294,556
Total owned inventory	3,127,510	2,511,623
Real estate not owned under option contracts	1,683	6,698
Total real estate inventory	$ 3,129,193	$ 2,518,321

Real Estate Inventory and Lan49

Real Estate Inventory and Land Deposits - Schedule of Development Status of Land Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Book Value of Land and Development [Member]
Inventory [Line Items]
Raw	$ 397,590	$ 464,882
Partially developed	551,794	654,759
Finished	1,314,693	787,033
Long-term strategic assets	14,730	27,993
Total	2,278,807	1,934,667
Owned Lots [Member]
Inventory [Line Items]
Raw	8,642	9,825
Partially developed	8,209	8,680
Finished	12,673	8,727
Long-term strategic assets	3,264	3,564
Total	$ 32,788	$ 30,796

Real Estate Inventory and Lan50

Real Estate Inventory and Land Deposits - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized - beginning of period	$ 106,470	$ 87,227	$ 94,880	$ 71,263
Interest incurred	22,401	25,167	70,708	65,619
Interest amortized to cost of home closings	(21,886)	(15,227)	(58,603)	(39,715)
Interest capitalized - end of period	$ 106,985	$ 97,167	$ 106,985	$ 97,167

Investments in Unconsolidated51

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

Investments in Unconsolidated52

Investments in Unconsolidated Entities - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Other assets	$ 830,760	$ 1,469,957
Equity Method Investments [Member]
Assets:
Real estate inventory	562,320	396,858
Other assets	102,413	59,963
Total assets	664,733	456,821
Liabilities and owners' equity:
Debt	234,101	129,561
Other liabilities	16,500	8,870
Total liabilities	250,601	138,431
Owners' equity:
TMHC	126,359	110,291
Others	287,773	208,099
Total owners' equity	414,132	318,390
Total liabilities and owners' equity	$ 664,733	$ 456,821

Investments in Unconsolidated53

Investments in Unconsolidated Entities - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Company’s share in (loss)/income of unconsolidated entities	$ (120)	$ 1,231	$ 1,408	$ 3,468
Distributions of earnings from unconsolidated entities			1,879	21,675
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	2,206	4,805	19,430	13,468
Costs and expenses	(2,242)	(3,046)	(15,980)	(7,100)
(Loss)/Income of unconsolidated entities	(36)	1,759	3,450	6,368
Company’s share in (loss)/income of unconsolidated entities	(120)	1,231	1,408	3,468
Distributions of earnings from unconsolidated entities	$ 442	$ 998	$ 8,736	$ 2,749

Accrued Expenses and Other Li54

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 15,815		$ 24,222
Compensation and employee benefits	43,753		51,475
Self-insurance and warranty reserves	43,923	$ 42,589	44,595	$ 40,308	$ 40,287	$ 34,814
Interest payable	25,572		22,033
Property and sales taxes payable	16,290		12,808
Other accruals	58,480		45,423
Total accrued expenses and other liabilities	$ 203,833		$ 200,556

Accrued Expenses and Other Li55

Accrued Expenses and Other Liabilities - Summary of Changes in Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Changes in Warranty Reserves
Reserve - beginning of period	$ 42,589	$ 40,287	$ 44,595	$ 34,814
Additions to reserves	5,629	6,113	13,143	13,820
Costs and claims incurred	(5,032)	(4,897)	(16,482)	(11,957)
Change in estimates to pre-existing reserves	737	(1,195)	2,667	3,631
Reserve - end of period	$ 43,923	$ 40,308	$ 43,923	$ 40,308

Debt - Senior Notes and Other B

Debt - Senior Notes and Other Borrowings (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total debt	$ 1,250,000	$ 1,388,840
Loans payable and other borrowings	145,589	147,516
Revolving credit facility	230,000	40,000
Mortgage warehouse borrowings	74,128	160,750
Total Senior Notes and bank financing	1,699,717	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	230,000	40,000
7.75% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Total debt	0	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	0
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	145,589	147,516
Mortgage Borrowings [Member]
Debt Instrument [Line Items]
Mortgage warehouse borrowings	$ 74,128	$ 160,750

Debt - Senior Notes and Other57

Debt - Senior Notes and Other Borrowings (Parenthetical) (Detail) - USD ($)	Sep. 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	$ 0		$ 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	$ 6,600,000		$ 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	$ 4,300,000
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	$ 4,500,000		$ 4,900,000

Debt - 2020 Senior Notes - Addi

Debt - 2020 Senior Notes - Additional Information (Detail) - 7.75% Senior Notes due 2020 [Member]	Sep. 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 (Detail) - 5.25% Senior Notes due 2021 [Member] - USD ($)	Apr. 16, 2015	Sep. 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
Redemption price	101.00%

Debt - 2023 Senior Notes and Re

Debt - 2023 Senior Notes and Redemption of 2020 Senior Notes - Additional Information (Detail) - USD ($)	Apr. 16, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Redemption of principal amount of debt				$ 513,608,000	$ 0
Loss on extinguishment of debt		$ 0	$ 0	$ 33,317,000	$ 0
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 (Detail) - 5.625% Senior Notes due 2024 [Member] - USD ($)	9 Months Ended
	Sep. 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 (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Apr. 24, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Revolving credit facility	$ 230,000,000		$ 40,000,000
Maximum capitalization ratio	60.00%
Actual capitalization ratio	44.00%
Minimum consolidated tangible net worth requirement	$ 1,400,000,000
Tangible net worth	1,900,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	500,000,000
Revolving credit facility	$ 230,000,000		$ 40,000,000
Revolving Credit Facility [Member] | Restated Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit		$ 500,000,000
Maturity date on credit facility	Apr. 12, 2019
Revolving credit facility	$ 40,000,000

Debt - Summary of Mortgage Subs

Debt - Summary of Mortgage Subsidiary Borrowings (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Amount Drawn	$ 74,128,000	$ 160,750,000
Secured Debt [Member]
Line of Credit Facility [Line Items]
Amount Drawn	74,128,000	160,750,000
Facility Amount	205,000,000	235,000,000
Secured Debt [Member] | Flagstar [Member]
Line of Credit Facility [Line Items]
Amount Drawn	25,451,000	62,894,000
Facility Amount	$ 55,000,000	$ 85,000,000
Collateral	Mortgage Loans	Mortgage Loans
Expiration date	30 days written notice	30 days written notice
Secured Debt [Member] | Comerica [Member]
Line of Credit Facility [Line Items]
Amount Drawn	$ 0	$ 11,430,000
Facility Amount	$ 50,000,000	$ 50,000,000
Expiration Date	Nov. 17, 2015	Aug. 19, 2015
Collateral	Mortgage Loans	Mortgage Loans
Secured Debt [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Amount Drawn	$ 48,677,000	$ 86,426,000
Facility Amount	$ 100,000,000	$ 100,000,000
Expiration Date	Sep. 26, 2016	Sep. 28, 2015
Collateral	Pledged Cash	Pledged Cash
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] | Comerica [Member]
Line of Credit Facility [Line Items]
Interest rate, basis	LIBOR
Interest rate, spread rate	2.75%	2.75%
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).

Debt - Summary of Mortgage Su64

Debt - Summary of Mortgage Subsidiary Borrowings (Parenthetical) (Detail) - Secured Debt [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Mortgage borrowings outstanding, collateralized amount	$ 104,100,000	$ 191,100,000
Collateralized amount of restricted short-term investments	1,300,000	1,300,000
Maximum loan amount under agreement	205,000,000	235,000,000
J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Maximum loan amount under agreement	$ 100,000,000	$ 100,000,000
Expiration Date	Sep. 26, 2016	Sep. 28, 2015
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).
J.P. Morgan [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate under the agreement	2.375%
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%

Debt - Loans Payable and Other

Debt - Loans Payable and Other Borrowings - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Loans Payables [Member]
Debt Instrument [Line Items]
Interest on loans payable, minimum	0.00%
Interest on loans payable, maximum	8.00%
Interest Bearing [Member]
Debt Instrument [Line Items]
Weighted average interest rate	5.40%
Carrying Value	$ 110.9
Non-Interest Bearing [Member]
Debt Instrument [Line Items]
Carrying Value	$ 34.7

Fair Value Disclosures - Carryi

Fair Value Disclosures - Carrying Value and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 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	$ 104,094	$ 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	104,094	191,140
Mortgage loans held for sale, estimated fair value	104,094	191,140
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	230,000	40,000
Estimated Fair Value	230,000	40,000
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	145,589	147,516
Estimated Fair Value	145,589	147,516
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	23,797	17,932
Contingent consideration liability, Estimated Fair Value	23,797	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	74,128	160,750
Estimated Fair Value	74,128	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	0	488,840
Estimated Fair Value	0	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	545,875	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	0
Estimated Fair Value	350,000	0
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	$ 336,000	$ 336,000

Fair Value Disclosures - Carr67

Fair Value Disclosures - Carrying Value and Fair Value of Financial Instruments (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Sep. 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 ($)	Sep. 30, 2015	Dec. 31, 2014
Income Tax [Line Items]
Unrecognized tax benefits expected to reverse	$ 0	$ 0
Domestic [Member]
Income Tax [Line Items]
Gross cumulative unrecognized tax benefits	$ 7,200,000	$ 2,400,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015vote / shares
Class of Stock [Line Items]
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.
Common Class A [Member]
Class of Stock [Line Items]
Voting rights per share	1
Common Class B [Member]
Class of Stock [Line Items]
Voting rights per share	1

Stockholders' Equity - Componen

Stockholders' Equity - Components and Voting Power of Outstanding Common Stock (Detail) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common Stock Outstanding	122,267,424
Percentage	100.00%
Common Class A [Member]
Class of Stock [Line Items]
Common Stock Outstanding	33,158,855	33,060,540
Percentage	27.10%
Common Class B [Member]
Class of Stock [Line Items]
Common Stock Outstanding	89,108,569	89,227,416
Percentage	72.90%	72.90%

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation		$ 18,900,000	$ 16,000,000
Class M Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment for settlement of awards	$ 0	$ 1,400,000
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 (in shares)	5,819,833	5,819,833

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 2,127	$ 1,507	$ 7,262	$ 4,327
New TMM Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	384	419	1,296	1,230
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	779	753	3,577	2,153
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 964	$ 335	$ 2,389	$ 944

Stock Based Compensation - Su73

Stock Based Compensation - Summary of Stock-Based Compensation Expense (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 2,127	$ 1,507	$ 7,262	$ 4,327
Monarch [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation			$ 1,500

Stock Based Compensation - Su74

Stock Based Compensation - Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity (Detail) - Restricted Stock Units and Performance Based Restricted Stock Units [Member]	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares
Number of Awards, Beginning balance (in shares) | shares	185,679
Number of Awards, Granted (in shares) | shares	445,485
Number of Awards, Vested (in shares) | shares	(11,260)
Number of Awards, Forfeited (in shares) | shares	(12,614)
Number of Awards, Ending balance (in shares) | shares	607,290
Weighted Average Grant Date Fair Value
Weighted Average Grand Date Fair Value, Outstanding, Beginning balance (usd per share)	$ 24.19
Weighted Average Grand Date Fair Value, Granted (usd per share)	18.46
Weighted Average Grand Date Fair Value, Vested (usd per share)	22.98
Weighted Average Grand Date Fair Value, Forfeited (usd per share)	22.29
Weighted Average Grand Date Fair Value, Outstanding, Ending balance (usd per share)	$ 20.03

Stock Based Compensation - Su75

Stock Based Compensation - Summary of Stock Option Plan (Detail)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares
Number of Shares, Outstanding, Beginning balance (in shares) | shares	1,325,029
Number of Shares, Granted (in shares) | shares	400,258
Number of Shares, Exercised (in shares) | shares	0
Number of shares, Cancelled/Forfeited (in shares) | shares	(211,397)
Number of Shares, Outstanding, Ending balance (in shares) | shares	1,513,890
Number of Shares, Options exercisable (in shares) | shares	273,293
Weighted Average Exercise Price Per Share
Weighted Average Exercise Price Per Share, Outstanding, Beginning balance	$ 22.35
Weighted Average Exercise Price Per Share, Granted	18.78
Weighted Average Exercise Price Per Share, Exercised	0
Weighted Average Exercise Price Per Share, Cancelled/Forfeited	24.69
Weighted Average Exercise Price Per Share, Outstanding, Ending balance	21.08
Weighted Average Exercise Price Per Share, options exercisable	$ 21.98

Stock Based Compensation - Su76

Stock Based Compensation - Summary of Stock Option Activity (Detail) - Class B Common Stock/New TMM Units [Member]	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares/New TMM Units
Number of Shares/Units, Beginning balance (in shares) | shares	1,431,721
Number of Shares/Units, Granted (in shares) | shares	0
Number of Shares/Units, Exchanges (in shares) | shares	(87,055)
Number of Shares/Units, Forfeited (in shares) | shares	(31,792)
Number of Shares/Units, Ending balance (in shares) | shares	1,312,874
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning balance (usd per share)	$ 5.11
Weighted Average Grant Date Fair Value, Granted (usd per share)	0
Weighted Average Grant Date Fair Value, Exchanges (usd per share)	3.88
Weighted Average Grant Date Fair Value, Forfeited (usd per share)	5.24
Weighted Average Grant Date Fair Value, Ending balance (usd per share)	$ 5.45

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Affiliates [Member]
Related Party Transaction [Line Items]
Real estate inventory acquisitions from affiliates	$ 0	$ 9,500,000	$ 16,800,000	$ 40,500,000

Accumulated Other Comprehensi78

Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period			$ (10,910)
Other comprehensive income/(loss) before reclassifications			(27,510)
Gross amounts reclassified from accumulated other comprehensive income			1,488
Foreign currency translation			0
Other comprehensive income (loss), net of tax	$ (565)	$ (18,842)	(26,022)	$ (20,204)
Balance, end of period	(17,959)		(17,959)
Principal Equityholders [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Gross amounts reclassified from accumulated other comprehensive income			18,973
Total Post-Retirement Benefits Adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period			692
Other comprehensive income/(loss) before reclassifications			269
Gross amounts reclassified from accumulated other comprehensive income			1,488
Foreign currency translation			518
Other comprehensive income (loss), net of tax			2,275
Balance, end of period	678		678
Total Post-Retirement Benefits Adjustments [Member] | Principal Equityholders [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Gross amounts reclassified from accumulated other comprehensive income			(2,289)
Foreign Currency Translation Adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period			(52,148)
Other comprehensive income/(loss) before reclassifications			(27,779)
Gross amounts reclassified from accumulated other comprehensive income			0
Foreign currency translation			0
Other comprehensive income (loss), net of tax			(27,779)
Balance, end of period	(79,927)		(79,927)
Foreign Currency Translation Adjustments [Member] | Principal Equityholders [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Gross amounts reclassified from accumulated other comprehensive income			0
Non-controlling Interest [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period			40,546
Other comprehensive income/(loss) before reclassifications			0
Gross amounts reclassified from accumulated other comprehensive income			0
Foreign currency translation			(518)
Other comprehensive income (loss), net of tax			(518)
Balance, end of period	$ 61,290		61,290
Non-controlling Interest [Member] | Principal Equityholders [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Gross amounts reclassified from accumulated other comprehensive income			21,262
Other comprehensive income (loss), net of tax			$ (18,973)

Operating and Reporting Segme79

Operating and Reporting Segments - Additional Information (Detail) - 9 months ended Sep. 30, 2015	Operations	Segment
Segment Reporting Information [Line Items]
Reportable segments		3
Homebuilding [Member]
Segment Reporting Information [Line Items]
Operating divisions | Operations	15
Reportable segments		2
Mortgage [Member]
Segment Reporting Information [Line Items]
Reportable segments	1	1

Operating and Reporting Segme80

Operating and Reporting Segments - Segment Information Excluding Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	$ 796,288	$ 629,196	$ 2,006,676	$ 1,696,679
Gross margin	149,472	131,951	380,713	362,684
Selling, general and administrative expenses	(78,746)	(60,546)	(206,895)	(171,941)
Equity in income/(loss) of unconsolidated entities	(120)	1,231	1,408	3,468
Interest and other (expense) income	(2,360)	(3,586)	(11,460)	(11,697)
Loss on extinguishment of debt	0	0	(33,317)	0
Gain on foreign currency forward	0	0	29,983	0
Income from continuing operations before income taxes	68,246	69,050	160,432	182,514
Operating Segments [Member] | East [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	479,025	346,065	1,229,910	968,489
Gross margin	96,991	76,975	249,532	213,204
Selling, general and administrative expenses	(42,462)	(31,375)	(111,295)	(90,279)
Equity in income/(loss) of unconsolidated entities	(427)	971	429	1,842
Interest and other (expense) income	(3,938)	(4,102)	(11,986)	(12,266)
Loss on extinguishment of debt			0
Gain on foreign currency forward			0
Income from continuing operations before income taxes	50,164	42,469	126,680	112,501
Operating Segments [Member] | West [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	305,947	274,698	747,972	705,320
Gross margin	48,127	51,600	120,507	140,251
Selling, general and administrative expenses	(19,822)	(17,410)	(50,633)	(47,273)
Equity in income/(loss) of unconsolidated entities	(197)	(9)	(619)	467
Interest and other (expense) income	(108)	361	421	321
Loss on extinguishment of debt			0
Gain on foreign currency forward			0
Income from continuing operations before income taxes	28,000	34,542	69,676	93,766
Operating Segments [Member] | Mortgage Operations [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	11,316	8,433	28,794	22,870
Gross margin	4,354	3,376	10,674	9,229
Selling, general and administrative expenses	(2)	0	(2)	0
Equity in income/(loss) of unconsolidated entities	504	269	1,598	1,159
Interest and other (expense) income	0	0	0	0
Loss on extinguishment of debt			0
Gain on foreign currency forward			0
Income from continuing operations before income taxes	4,856	3,645	12,270	10,388
Corporate and Unallocated [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	0	0	0	0
Gross margin	0	0	0	0
Selling, general and administrative expenses	(16,460)	(11,761)	(44,965)	(34,389)
Equity in income/(loss) of unconsolidated entities	0	0	0	0
Interest and other (expense) income	1,686	155	105	248
Loss on extinguishment of debt			(33,317)
Gain on foreign currency forward			29,983
Income from continuing operations before income taxes	$ (14,774)	$ (11,606)	$ (48,194)	$ (34,141)

Operating and Reporting Segme81

Operating and Reporting Segments - Assets from Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 3,164,549	$ 2,552,865
Investments in unconsolidated entities	126,359	110,291
Other assets	830,760	1,469,957
Total assets	4,121,668	4,133,113
Discontinued Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits		0
Investments in unconsolidated entities		0
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	1,660,653	1,275,192
Investments in unconsolidated entities	52,708	57,138
Other assets	240,367	166,854
Total assets	1,953,728	1,499,184
Operating Segments [Member] | West [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,503,896	1,277,673
Investments in unconsolidated entities	71,867	51,909
Other assets	58,441	37,989
Total assets	1,634,204	1,367,571
Operating Segments [Member] | Mortgage Operations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	1,784	1,244
Other assets	119,537	204,685
Total assets	121,321	205,929
Corporate and Unallocated [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	0	0
Other assets	412,415	483,984
Total assets	$ 412,415	$ 483,984

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds	$ 364.7	$ 315.6
Legal accruals	$ 1.2	$ 0.9