Taylor Morrison Home (TMHC) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 03, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	TMHC
Entity Registrant Name	Taylor Morrison Home Corp
Entity Central Index Key	1,562,476
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		30,353,885
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		89,106,748

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 131,879	$ 126,188
Restricted cash	1,300	1,280
Real estate inventory:
Owned inventory	3,242,308	3,118,866
Real estate not owned under option agreements	612	7,921
Total real estate inventory	3,242,920	3,126,787
Land deposits	38,615	34,113
Mortgage loans held for sale	145,963	201,733
Prepaid expenses and other assets, net	83,294	75,295
Other receivables, net	126,566	120,729
Investments in unconsolidated entities	149,844	128,448
Deferred tax assets, net	234,457	233,488
Property and equipment, net	6,334	7,387
Intangible assets, net	3,718	4,248
Goodwill	66,198	57,698
Total assets	4,231,088	4,117,394
Liabilities
Accounts payable	151,083	151,861
Accrued expenses and other liabilities	175,284	191,452
Income taxes payable	15,608	37,792
Customer deposits	139,830	92,319
Senior notes, net	1,236,332	1,235,157
Loans payable and other borrowings	158,244	134,824
Revolving credit facility borrowings, net	210,705	109,947
Mortgage warehouse borrowings	118,099	183,444
Liabilities attributable to real estate not owned under option agreements	612	7,921
Total liabilities	2,205,797	2,144,717
COMMITMENTS AND CONTINGENCIES (Note 18)
Stockholders’ Equity
Preferred stock, $0.00001 par value, 50,000,000 shares authorized, no shares issued and outstanding as of June 30, 2016 and December 31, 2015	0	0
Additional paid-in capital	378,781	376,898
Treasury stock at cost; 2,606,067 and 934,434 shares as of June 30, 2016 and December 31, 2015, respectively	(39,691)	(14,981)
Retained earnings	194,495	175,997
Accumulated other comprehensive loss	(18,115)	(17,997)
Total stockholders’ equity attributable to Taylor Morrison Home Corporation	515,471	519,918
Non-controlling interests – joint ventures	6,614	6,398
Non-controlling interests – Principal Equityholders	1,503,206	1,446,361
Total stockholders’ equity	2,025,291	1,972,677
Total liabilities and stockholders’ equity	4,231,088	4,117,394
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	Jun. 30, 2016	Dec. 31, 2015
Common stock, shares outstanding	119,672,870
Preferred stock, par value (usd per share)	$ 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
Treasury stock, shares held	2,606,067	934,434
Common Class A [Member]
Common stock, par value (usd per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	33,172,189	33,158,855
Common stock, shares outstanding	30,566,122	32,224,421
Common Class B [Member]
Common stock, par value (usd per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	89,106,748	89,108,569
Common stock, shares outstanding	89,106,748	89,108,569

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Home closings revenue, net	$ 829,882	$ 682,387	$ 1,458,969	$ 1,175,980
Land closings revenue	10,936	8,743	17,540	16,931
Mortgage operations revenue	13,498	9,843	23,136	17,478
Total revenues	854,316	700,973	1,499,645	1,210,389
Cost of home closings	679,685	553,652	1,194,217	958,757
Cost of land closings	6,686	4,566	12,318	9,232
Mortgage operations expenses	8,193	6,096	14,717	11,158
Total cost of revenues	694,564	564,314	1,221,252	979,147
Gross margin	159,752	136,659	278,393	231,242
Sales, commissions and other marketing costs	59,182	47,022	107,023	83,242
General and administrative expenses	31,710	24,204	61,134	44,908
Equity in income of unconsolidated entities	(2,305)	(1,225)	(3,087)	(1,527)
Interest income, net	(15)	(82)	(102)	(132)
Other expense, net	3,412	3,463	6,666	9,232
Loss on extinguishment of debt	0	33,317	0	33,317
Gain on foreign currency forward	0	0	0	(29,983)
Income from continuing operations before income taxes	67,768	29,960	106,759	92,185
Income tax provision	22,104	9,939	34,991	31,981
Net income from continuing operations	45,664	20,021	71,768	60,204
Discontinued operations:
Transaction expenses from discontinued operations	0	0	0	(9,043)
Gain on sale of discontinued operations	0	0	0	80,205
Income tax expense from discontinued operations	0	0	0	(14,500)
Net income from discontinued operations	0	0	0	56,662
Net income before allocation to non-controlling interests	45,664	20,021	71,768	116,866
Net income attributable to non-controlling interests — joint ventures	(296)	(920)	(480)	(1,289)
Net income before non-controlling interests — Principal Equityholders	45,368	19,101	71,288	115,577
Net income from continuing operations attributable to non-controlling interests — Principal Equityholders	(33,683)	(14,024)	(52,790)	(43,157)
Net income from discontinued operations attributable to non-controlling interests — Principal Equityholders	0	0	0	(41,381)
Net income available to Taylor Morrison Home Corporation	$ 11,685	$ 5,077	$ 18,498	$ 31,039
Earnings per common share - basic:
Income from continuing operations (usd per share)	$ 0.37	$ 0.15	$ 0.58	$ 0.48
Income from discontinued operations - net of tax (usd per share)	0	0	0	0.46
Net income available to Taylor Morrison Home Corporation (usd per share)	0.37	0.15	0.58	0.94
Earnings per common share - diluted:
Income from continuing operations (usd per share)	0.37	0.15	0.58	0.48
Income from discontinued operations - net of tax (usd per share)	0	0	0	0.46
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.37	$ 0.15	$ 0.58	$ 0.94
Weighted average number of shares of common stock:
Basic (in shares)	31,574	33,076	31,742	33,071
Diluted (in shares)	121,052	122,409	121,217	122,382

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income before non-controlling interests, net of tax	$ 45,664	$ 20,021	$ 71,768	$ 116,866
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax	0	199	0	(27,214)
Post-retirement benefits adjustments, net of tax	0	0	(447)	1,757
Other comprehensive income (loss), net of tax	0	199	(447)	(25,457)
Comprehensive income	45,664	20,220	71,321	91,409
Comprehensive income available to Taylor Morrison Home Corporation	11,685	5,081	18,380	24,103
Joint Ventures [Member]
Other comprehensive income (loss), net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	(296)	(920)	(480)	(1,289)
Principal Equityholders [Member]
Other comprehensive income (loss), net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	$ (33,683)	$ (14,219)	$ (52,461)	$ (66,017)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-controlling Interest [Member]Joint Ventures [Member]	Non-controlling Interest [Member]Principal Equityholders [Member]
Balance at Dec. 31, 2014							$ (10,910)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income before non-controlling interests, net of tax	$ 116,866
Other comprehensive loss	(25,457)
Balance at Jun. 30, 2015							(17,846)
Balance at Dec. 31, 2014							(10,910)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock		$ (15,000)
Repurchase of common stock, shares		934,434
Balance at Dec. 31, 2015	1,972,677	$ 0	$ 1	$ 376,898	$ (14,981)	$ 175,997	(17,997)	$ 6,398	$ 1,446,361
Balance, shares at Dec. 31, 2015		32,224,421	89,108,569		934,434
Balance at Mar. 31, 2015							(17,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income before non-controlling interests, net of tax	20,021
Other comprehensive loss	199
Balance at Jun. 30, 2015							(17,846)
Balance at Dec. 31, 2015	1,972,677	$ 0	$ 1	376,898	$ (14,981)	175,997	(17,997)	6,398	1,446,361
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Income before non-controlling interests, net of tax	71,768					18,498		480	52,790
Other comprehensive loss	(447)						(118)		(329)
Cancellation of forfeited New TMM Units and corresponding number of Class B Common Stock, shares			(1,821)
Issuance of restricted stock units, shares		13,334
Repurchase of common stock	(24,710)	$ (24,700)			$ (24,710)
Repurchase of common stock, shares		1,671,633			1,671,633
Share based compensation	5,917			1,533					4,384
Contributions from/(Distributions to) non-controlling interests of consolidated joint ventures	86			350				(264)
Balance at Jun. 30, 2016	$ 2,025,291	$ 0	$ 1	$ 378,781	$ (39,691)	$ 194,495	$ (18,115)	$ 6,614	$ 1,503,206
Balance, shares at Jun. 30, 2016		30,566,122	89,106,748		2,606,067

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before allocation to non-controlling interests		$ 71,768	$ 116,866
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in income of unconsolidated entities		(3,087)	(1,527)
Stock compensation expense		5,917	3,596
Loss on extinguishment of debt		0	33,317
Distributions of earnings from unconsolidated entities		1,673	1,437
Depreciation and amortization		1,974	1,852
Debt issuance costs amortization		1,933	2,527
Net income from discontinued operations		0	(56,662)
Gain on foreign currency forward		0	(29,983)
Contingent consideration		2,349	6,705
Deferred income taxes		(969)	6,798
Changes in operating assets and liabilities:
Real estate inventory and land deposits		(62,906)	(391,680)
Mortgages held for sale, prepaid expenses and other assets		43,734	23,728
Customer deposits		47,049	28,597
Accounts payable, accrued expenses and other liabilities		(21,584)	(17,617)
Income taxes payable		(22,185)	(20,862)
Net cash provided by (used in) operating activities		65,666	(292,908)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(187)	(1,499)
Payments for business acquisitions		(52,819)	(62,440)
Distribution from unconsolidated entities		1,656	6,857
Change in restricted cash		(20)	655
Investments of capital into unconsolidated entities		(21,638)	(24,950)
Proceeds from sale of discontinued operations		0	268,853
Proceeds from settlement of foreign currency forward		0	29,983
Net cash (used in) provided by investing activities		(73,008)	217,459
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in loans payable and other borrowings		36,631	0
Repayment on mortgage warehouse		(30,529)	(24,449)
Borrowings on revolving credit facility		240,000	115,000
Payments on revolving credit facility		(140,000)	(50,000)
Borrowings on mortgage warehouse		527,027	354,812
Repayment on mortgage warehouse		(592,372)	(444,077)
Proceeds from the issuance of senior notes		0	350,000
Repayments on senior notes		0	(513,608)
Repurchase of common stock		(24,710)	0
Payment of deferred financing costs		0	(4,538)
Payment of contingent consideration		(3,100)	(3,050)
Contributions from (distributions to) non-controlling interests of consolidated joint ventures, net		86	(1,373)
Net cash provided by (used in) financing activities		13,033	(221,283)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		0	(19,927)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS		5,691	(316,659)
CASH AND CASH EQUIVALENTS - Beginning of period	[1]	126,188	462,205
CASH AND CASH EQUIVALENTS — End of period		131,879	145,546
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net		(58,144)	(59,810)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Change in loans payable issued to sellers in connection with land purchase contracts		22,708	(28,554)
Accrual of contingent consideration		380	3,200
Non-cash portion of loss on debt extinguishment		$ 0	$ 5,102
[1]	Cash and cash equivalents shown here includes the cash of Monarch Corporation. 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	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	BUSINESS Organization and Description of the Business - Taylor Morrison Home Corporation (“TMHC”) and its subsidiaries (collectively, referred to herein as “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 Company serves a wide array of consumer groups from coast to coast, including first time, move-up, luxury and 55 plus buyers. Our homebuilding business operates under our Taylor Morrison and Darling Homes brands. Our business has multiple homebuilding operating divisions, and a mortgage operations and title services division, which are organized into multiple reportable segments. The communities in our homebuilding business offer single family attached and 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 mortgage services to customers through our wholly owned mortgage subsidiary, Taylor Morrison Home Funding, LLC (“TMHF”), and title services through our wholly owned title services subsidiary, Inspired Title Services, LLC (“Inspired Title”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
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 generally accepted accounting principles 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 2015 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 loss in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statement of Stockholders’ Equity. Discontinued Operations – As a result of our decision in December 2014 to divest of Monarch Corporation (“Monarch”), our former Canadian operating segment, the operating results and financial position of the Monarch business are presented as discontinued operations for the three and six months ended June 30, 2015 . Non-controlling interests –In connection with a series of transactions consummated at the time of the Company’s IPO (the “Reorganization Transactions”), the Company became the sole owner of the general partner of TMM Holdings II Limited Partnership (“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 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. (“JH” and together with the TPG Entities and Oaktree Entities, the “Principal Equityholders”) or by members of management and the Board of Directors. Joint Ventures - We consolidate certain joint ventures in accordance with Accounting Standards Codification (“ ASC ” ) Topic 810 , “ Consolidation .” The income from the percentage of the joint venture not owned by us is presented as “Net income attributable to non-controlling interests - joint ventures” on the Condensed Consolidated Statements of Operations. Reclassifications - Prior period amounts related to debt issuance costs have been reclassified to conform with current period financial statement presentation as a result of adopting Accounting Standards Update (“ ASU ” ) 2015-03, Simplifying the Presentation of Debt Issuance Costs . Approximately $19.9 million of such costs as of December 31, 2015 have been reclassified from prepaid expenses and other assets to their respective debt liability. Business Combinations — Acquisitions are accounted for in accordance with ASC Topic 805-10, Business Combinations. In connection with our acquisitions, we determined we obtained control of a business and its inputs, processes and outputs in exchange for cash and other consideration. All material assets and liabilities, including contingent consideration, were measured and recognized at fair value as of the date of the acquisition to reflect the purchase price paid, which resulted in goodwill for each transaction. Refer to Note 3 - Business Combinations for further information regarding the purchase price allocation and related acquisition accounting. 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 goodwill, 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 limited partnership interests of TMM Holdings Limited Partnership (“TMM Holdings”) 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. Real Estate Inventory — Inventory consists of raw land, land under development, land held for future development, homes under construction, completed homes and model homes. Inventory is carried at cost, less impairment, if applicable. In addition to direct carrying costs, we also capitalize interest, real estate taxes, and related development costs that benefit the entire community, such as field construction supervision and direct overhead. Home construction costs are accumulated and charged to cost of sales at home closing using the specific identification method. All other overhead costs are allocated to closed homes using the relative sales value method. These costs are capitalized to inventory from the point development begins to the point construction is completed. Changes in estimated costs to be incurred in a community (cost to complete) are generally allocated to the remaining homes on a prospective basis. For those communities that have been temporarily closed or where development has been discontinued, costs are expensed as incurred until operations resume. We review our real estate inventory for indicators of impairment by community on a quarterly basis. In conducting our impairment analysis, we evaluate 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. If indicators of impairment are present for a community, we perform an additional analysis to determine if the carrying value of the assets in that community exceeds the undiscounted cash flows estimated to be generated by those assets. If the carrying value of the assets does exceed their estimated undiscounted cash flows, the assets are deemed to be impaired and are recorded at fair value as of the assessment date. An impairment charge is taken in the period with a charge to cost of home closings. For the three and six months ended June 30, 2016 and 2015 , no impairment charges were recorded. In certain cases, we may elect to cease development and/or marketing of an existing community if we believe the economic performance of the community would be maximized by deferring development for a period of time to allow for market conditions to improve. The decision may be based on financial and/or operational metrics as determined by management. If we decide to cease developing a project, we will evaluate the project for impairment and then cease future development and marketing activity until such a time when we believe that market conditions have improved and economic performance can be maximized. In the ordinary course of business, we enter into various specific performance agreements to acquire lots. Real estate not owned under these agreements is consolidated into real estate inventory with a corresponding liability in liabilities attributable to real estate not owned under option agreements in the Condensed Consolidated Balance Sheets. 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. To the extent the deposits are non-refundable, they are charged to expense if the land acquisition process is terminated or no longer determined probable. We review the likelihood of the acquisition of contracted lots in conjunction with our periodic real estate inventory impairment analysis. Non-refundable deposits are recorded as a component of real estate inventory in the accompanying Condensed Consolidated Balance Sheets at the time the deposit is applied to the acquisition price of the land based on the terms of the underlying agreements. Investments in Consolidated and Unconsolidated Entities Consolidated Joint Ventures — In the ordinary course of business, we participate in strategic land development and homebuilding joint ventures with third parties. The use of these entities, in some instances, enables us to acquire land to which we could not otherwise obtain access, or could not obtain access on terms that are as favorable. Some of these joint ventures develop land for the sole use of the venture participants and others develop land for sale to the venture participants and to unrelated builders. In addition, we are involved with third parties who are involved in land development and homebuilding activities, including home sales. We review such contracts to determine whether they are a variable interest entity ("VIE"). In accordance with ASC Topic 810, “ Consolidation ,” for each VIE, we assess whether we are the primary beneficiary by first determining if we have the ability to control the activities of the VIE that most significantly affect its economic performance. Such activities include, but are not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with us; and the ability to change or amend the existing option contract with the VIE. If we are not able to control such activities, we are not considered the primary beneficiary of the VIE. If we do have the ability to control such activities, we continue our analysis to determine if we are expected to absorb a potentially significant amount of the VIE’s losses or, if no party absorbs the majority of such losses, if we will potentially benefit from a significant amount of the VIE’s expected returns. For these entities in which we are expected to absorb the losses or benefits, we consolidate the results in the accompanying Condensed Consolidated Financial Statements. Unconsolidated Joint Ventures — We use the equity method of accounting for entities over which we exercise significant influence but do not have a controlling interest over the operating and financial policies of the investee. For unconsolidated entities in which we function as the managing member, we have evaluated the rights held by our joint venture partners and determined that they have substantive participating rights that preclude the presumption of control. For joint ventures accounted for using the equity method, our share of net earnings or losses is included in equity in income of unconsolidated entities when earned and distributions are credited against our investment in the joint venture when received. These joint ventures are recorded in investments in unconsolidated entities on the Condensed Consolidated Balance Sheets. We evaluate our investments in unconsolidated entities for indicators of impairment quarterly. A series of operating losses of an investee or other factors may indicate that a decrease in value of our investment in the unconsolidated entity has occurred which is other-than-temporary. The amount of impairment recognized is the excess of the investment’s carrying amount over its estimated fair value. Additionally, we consider various qualitative factors to determine if a decrease in the value of the investment is other-than-temporary. These factors include age of the venture, stage in its life cycle, intent and ability for us to recover our investment in the entity, financial condition and long-term prospects of the entity, short-term liquidity needs of the unconsolidated entity, trends in the general economic environment of the land, entitlement status of the land held by the unconsolidated entity, overall projected returns on investment, defaults under contracts with third parties (including bank debt), recoverability of the investment through future cash flows and relationships with the other partners. If the Company believes that the decline in the fair value of the investment is temporary, then no impairment is recorded. We did not record any impairment charges for the three and six months ended June 30, 2016 and 2015 , respectively. Goodwill — The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC Topic 350, “ Intangibles — Goodwill and Other ” (“ASC 350”). ASC 350 requires that goodwill and intangible assets that do not have finite lives not be amortized, but rather assessed for impairment at least annually or more frequently if certain impairment indicators are present. We perform our annual impairment test during the fourth quarter or whenever impairment indicators are present. Stock Based Compensation — We have stock options, performance-based restricted stock units and non-performance based restricted stock units which we account for in accordance with ASC Topic 718-10, “ Compensation — Stock Compensation.” The fair value for stock options is measured and estimated on the date of grant using the Black-Scholes option pricing model and recognized evenly over the vesting period of the options. Performance-based restricted stock units are measured using the closing price on the date of grant and expensed using a probability of attainment calculation which determines the likelihood of achieving the performance targets. Non-performance based restricted stock units are time based awards and measured using the closing price on the date of grant and are expensed over the vesting period on a straight-line basis. Treasury Stock — We account for treasury stock in accordance with ASC Topic 505-30, “ Equity - Treasury Stock.” Repurchased shares are reflected as a reduction in Stockholders’ Equity and subsequent sale of repurchased shares are recognized as a change in Equity. When factored into our weighted average calculations for purposes of earnings per share, the number of repurchased shares is based on the trade date. Revenue Recognition Home closings revenue, net — Home closings revenue is recorded using the completed-contract method of accounting at the time each home is delivered, title and possession are transferred to the buyer, we have no significant continuing involvement with the home, risk of loss has transferred, the buyer has demonstrated sufficient investment in the property, and the receivable, if any, from the homeowner or escrow agent is not subject to future subordination. We typically grant our homebuyers certain sales incentives, including cash discounts, incentives on options included in the home, option upgrades, and seller-paid financing or closing costs. Incentives and discounts are accounted for as a reduction in the sales price of the home and home closings revenue is shown net of discounts. We also receive rebates from certain vendors and these rebates are accounted for as a reduction to cost of home closings. Land closings revenue — Revenue from land sales are recognized when title is transferred to the buyer, there is no significant continuing involvement, and the buyer has demonstrated sufficient investment in the property sold. If the buyer has not made an adequate investment in the property, the profit on such sales is deferred until these conditions are met. Mortgage operations revenue — Loan origination fees (including title fees, points, closing costs) are recognized at the time the related real estate transactions are completed, usually upon the close of escrow. All of the loans TMHF originates are sold to third party investors within a short period of time, on a non-recourse basis. Gains and losses from the sale of mortgages are recognized in accordance with ASC Topic 860-20, “ Sales of Financial Assets. ” TMHF does not have continuing involvement with the transferred assets, therefore we derecognize the mortgage loans at time of sale, based on the difference between the selling price and carrying value of the related loans upon sale, recording a gain/loss on sale in the period of sale. Recently Issued Accounting Pronouncements — In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 is intended to simplify several areas of stock compensation including its tax consequences, liability vs. equity classification, and statement of cash flows presentation. ASU 2016-09 will be effective for us in our fiscal year beginning January 1, 2017. We are currently evaluating the impact the adoption of ASU 2016-09 will have on our condensed consolidated financial statements and disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 primarily impacts off-balance sheet operating leases and will require such leases, with the exception of short-term leases, to be recorded on the balance sheet. Lessor accounting is not significantly impacted by the new guidance, however certain updates were made to align lessee and lessor treatment. ASU 2016-02 will be effective for us in our fiscal year beginning January 1, 2019. We are currently evaluating the impact the adoption of ASU 2016-02 will have on our condensed consolidated financial statements and 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 an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. In doing so, entities will generally need to use more judgment and make more estimates than under current 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. We are currently evaluating the method and impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements and disclosures.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS On January 8, 2016, we acquired Acadia Homes, an Atlanta based homebuilder, for total consideration of $83.6 million (including $19.7 million of seller financing and holdbacks and contingent consideration). We acquired JEH Homes, an Atlanta based homebuilder, on April 30, 2015 and three divisions of Orleans Homes in Charlotte, Raleigh and Chicago on July 21, 2015 for combined total consideration of $233.7 million (including seller financing and contingent consideration). In accordance with ASC Topic 805 , Business Combinations , all material assets and liabilities, including contingent consideration were measured and recognized at fair value as of the date of the acquisition to reflect the purchase price paid, which resulted in goodwill for each transaction. We determined the estimated 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. 2016 Acquisition The Company has completed an allocation of purchase price as of the acquisition date and expects to finalize the allocation within one year from the date of acquisition. The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created (in thousands): Acadia Homes Acquisition Date January 8, 2016 Assets acquired Real estate inventory $ 76,152 Land deposits 984 Prepaid expenses and other assets 816 Property and equipment 204 Goodwill (1) 8,500 Total assets $ 86,656 Less liabilities assumed Accrued expenses and other liabilities $ 2,562 Customer deposits 463 Net assets acquired $ 83,631 (1) Goodwill is fully deductible for tax purposes. The goodwill was allocated to our East homebuilding segment. 2015 Acquisitions The Company performed an allocation of purchase price as of each acquisition date. The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created (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 (1) 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 Net assets acquired $ 66,380 $ 167,314 $ 233,694 (1) Goodwill is fully deductible for tax purposes. We allocated $27.8 million and $6.5 million of goodwill to our East and West homebuilding segments, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
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 shares 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 shares of Class A Common Stock and if all outstanding equity awards to issue shares of Class A Common Stock were exercised or settled. The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended Six Months Ended 2016 2015 2016 2015 Numerator: Net income available to TMHC – basic $ 11,685 $ 5,077 $ 18,498 $ 31,039 Income from discontinued operations, net of tax — — — 56,662 Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders — — — (41,381 ) Net income from discontinued operations – basic $ — $ — $ — $ 15,281 Net income from continuing operations – basic $ 11,685 $ 5,077 $ 18,498 $ 15,758 Net income from continuing operations – basic $ 11,685 $ 5,077 $ 18,498 $ 15,758 Net income from continuing operations attributable to non-controlling interest – Principal Equityholders 33,683 14,024 52,790 43,157 Loss fully attributable to public holding company 100 110 173 229 Net income from continuing operations – diluted $ 45,468 $ 19,211 $ 71,461 $ 59,144 Net income from discontinued operations – diluted $ — $ — $ — $ 56,662 Denominator: Weighted average shares – basic (Class A) 31,574 33,076 31,742 33,071 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 89,107 89,200 89,107 89,203 Restricted stock units 366 133 367 108 Stock Options 5 — 1 — Weighted average shares – diluted 121,052 122,409 121,217 122,382 Earnings per common share – basic: Income from continuing operations $ 0.37 $ 0.15 $ 0.58 $ 0.48 Income from discontinued operations, nets of tax $ — $ — $ — $ 0.46 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.15 $ 0.58 $ 0.94 Earnings per common share – diluted: Income from continuing operations $ 0.37 $ 0.15 $ 0.58 $ 0.48 Income from discontinued operations, net of tax $ — $ — $ — $ 0.46 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.15 $ 0.58 $ 0.94 We excluded a total weighted average of 1,602,935 and 1,580,186 stock options and unvested restricted stock units (“RSUs”) and 2,361,178 and 1,546,380 stock options and unvested RSUs from the calculation of earnings per share for the three and six months ended June 30, 2016 and 2015 , 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.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS In connection with the decision to sell Monarch in December 2014, which closed in January 2015, the operating results of the Monarch business are classified as discontinued operations – net of applicable taxes in the Condensed Consolidated Statements of Operations for the six months ended June 30, 2015 . No revenues or expenses related to the operations of Monarch were recorded in 2015 , however, the recorded activity for the six months ended June 30, 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 taxes. There were no assets and liabilities of discontinued operations at June 30, 2016 and December 31, 2015 . For the six months ended June 30, 2016 , there was no activity recorded related to Monarch or its operations.

Derivative Financial Instrument

Derivative Financial Instrument	6 Months Ended
	Jun. 30, 2016
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 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 six months ended June 30, 2015 . There was no activity related to derivative financial instruments for the three and six months ended June 30, 2016 .

Real Estate Inventory and Land

Real Estate Inventory and Land Deposits	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Real Estate Inventory and Land Deposits	REAL ESTATE INVENTORY AND LAND DEPOSITS Inventory consists of the following (in thousands): As of June 30, 2016 December 31, 2015 Real estate developed and under development $ 2,184,842 $ 2,167,771 Real estate held for development or held for sale (1) 187,869 173,448 Operating communities (2) 758,534 672,499 Capitalized interest 111,063 105,148 Total owned inventory 3,242,308 3,118,866 Real estate not owned under option agreements 612 7,921 Total real estate inventory $ 3,242,920 $ 3,126,787 (1) Real estate held for development or held for sale includes properties which are not in active production. This includes raw land recently purchased or awaiting entitlement, future phases of current projects that will be developed as prior phases sell out, and mothball communities. (2) Operating communities consists of all vertical construction costs relating to homes in progress and completed homes for all active production of inventory. The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2016 December 31, 2015 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 7,042 $ 349,391 8,300 $ 378,081 Partially developed 7,942 490,327 8,904 645,276 Finished 13,478 1,520,755 12,294 1,305,697 Long-term strategic assets 3,105 12,238 3,105 12,165 Total 31,567 $ 2,372,711 32,603 $ 2,341,219 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 June 30, 2016 and December 31, 2015 , we had the right to purchase 9,196 and 8,888 lots under land option purchase contracts, respectively, for an aggregate purchase price of $753.7 million and $710.6 million as of June 30, 2016 and December 31, 2015 , respectively. We do not have title to the property and the creditors generally have no recourse against the Company. As of June 30, 2016 and December 31, 2015, our exposure to loss related to our option contracts with third parties and unconsolidated entities consist of non-refundable option deposits totaling $38.6 million and $34.1 million , respectively, in land deposits related to land options and land purchase contracts. Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Interest capitalized - beginning of period $ 110,962 $ 103,892 $ 105,148 $ 94,880 Interest incurred 22,201 23,268 44,445 48,307 Interest amortized to cost of home closings (22,100 ) (20,690 ) (38,530 ) (36,717 ) Interest capitalized - end of period $ 111,063 $ 106,470 $ 111,063 $ 106,470

Investments in Unconsolidated E

Investments in Unconsolidated Entities	6 Months Ended
	Jun. 30, 2016
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 combined financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 612,478 $ 586,359 Other assets 170,713 119,781 Total assets $ 783,191 $ 706,140 Liabilities and owners’ equity: Debt $ 283,845 $ 273,769 Other liabilities 28,544 11,239 Total liabilities 312,389 285,008 Owners’ equity: TMHC 149,844 128,448 Others 320,958 292,684 Total owners’ equity 470,802 421,132 Total liabilities and owners’ equity $ 783,191 $ 706,140 Three Months Ended Six Months Ended 2016 2015 2016 2015 Revenues $ 37,042 $ 15,777 $ 49,662 $ 17,473 Costs and expenses (30,110 ) (12,859 ) (40,220 ) (14,030 ) Income of unconsolidated entities $ 6,932 $ 2,918 $ 9,442 $ 3,443 TMHC’s share in income of unconsolidated entities $ 2,305 $ 1,225 $ 3,087 $ 1,527 Distributions of earnings from unconsolidated entities $ 3,218 $ 7,787 $ 3,329 $ 8,294 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 joint venture participants, including us, and others develop land for sale to the joint venture participants and to unrelated builders. Our share of the joint venture profit relating to lots we purchase from the joint ventures is deferred until homes are delivered by us and title passes to a homebuyer.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2016
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 $ 13,126 $ 21,325 Compensation and employee benefits 42,541 47,674 Self-insurance and warranty reserves 44,342 43,098 Interest payable 17,975 18,621 Property and sales taxes payable 9,776 15,233 Other accruals 47,524 45,501 Total accrued expenses and other liabilities $ 175,284 $ 191,452 Self-Insurance and Warranty Reserves – We accrue for the expected costs associated with the limited one year warranty, deductibles and self-insured amounts under our various insurance policies within Beneva Indemnity Company ("Beneva") a wholly owned subsidiary. A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Reserve - beginning of period $ 43,195 $ 42,956 $ 43,098 $ 44,595 Additions to reserves 5,015 4,814 10,783 7,514 Costs and claims incurred (5,962 ) (5,516 ) (12,547 ) (11,450 ) Change in estimates to pre-existing reserves 2,094 335 3,008 1,930 Reserve - end of period $ 44,342 $ 42,589 $ 44,342 $ 42,589

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	DEBT Total debt consists of the following (in thousands): As of June 30, 2016 December 31, 2015 Principal Unamortized Debt Issuance Costs Carrying Value Principal Unamortized Debt Issuance Costs Carrying Value 5.25% Senior Notes due 2021, unsecured $ 550,000 $ 5,688 $ 544,312 $ 550,000 $ 6,287 $ 543,713 5.875% Senior Notes due 2023, unsecured 350,000 3,853 346,147 350,000 4,160 345,840 5.625% Senior Notes due 2024, unsecured 350,000 4,127 345,873 350,000 4,396 345,604 Senior Notes subtotal 1,250,000 13,668 1,236,332 1,250,000 14,843 1,235,157 Loans payable and other borrowings 158,244 — 158,244 134,824 — 134,824 Revolving Credit Facility 215,000 4,295 210,705 115,000 5,053 109,947 Mortgage warehouse borrowings 118,099 — 118,099 183,444 — 183,444 Total Senior Notes and bank financing $ 1,741,343 $ 17,963 $ 1,723,380 $ 1,683,268 $ 19,896 $ 1,663,372 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 their homebuilding subsidiaries (collectively, the “Guarantors”), which are all subsidiaries directly or indirectly of TMHC. The 2021 Senior Notes and the related 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 and the related guarantees are senior unsecured obligations 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 principal amount of 7.75% Senior Notes due 2020 (the “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 during the second quarter of 2015, 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 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 and 2023 Senior Notes. The 2024 Senior Notes and the related 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 similar to the 2023 Senior Notes. The indenture governing the 2024 Senior Notes contains events of default that are similar to those contained in the indenture governing the 2021 and 2023 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 2023 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. $500.0 Million Revolving Credit Facility Our $500.0 million Revolving Credit Facility matures on April 12, 2019 . The Revolving Credit Facility is guaranteed by the same Guarantors that guarantee the 2021, 2023 and 2024 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 $1.5 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 the borrower, be included in the calculation of consolidated tangible net worth and consolidated total capitalization. The equity cure right is exercisable up to twice in any period of four consecutive fiscal quarters and up to five times overall. The 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 June 30, 2016 , we were in compliance with all of the covenants under the Revolving Credit Facility. Mortgage Warehouse Borrowings The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2016 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 28,453 $ 30,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 33,161 50,000 LIBOR + 2.25% November 16, 2016 Mortgage Loans J.P. Morgan 56,485 100,000 LIBOR + 2.375% September 26, 2016 Mortgage Loans and Pledged Cash Total $ 118,099 $ 180,000 As of December 31, 2015 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 63,210 $ 75,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 18,009 50,000 LIBOR + 2.25% November 16, 2016 Mortgage Loans J.P. Morgan 102,225 120,000 (2) September 26, 2016 Mortgage Loans and Pledged Cash Total $ 183,444 $ 245,000 (1) The mortgage warehouse borrowings outstanding as of June 30, 2016 and December 31, 2015 , are collateralized by $146.0 million and $201.7 million , respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale and $1.3 million , for both periods presented, which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets. (2) Through the date of expiration of September 28, 2015, interest under the J.P. Morgan agreement ranged from 2.50% 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 June 30, 2016 and December 31, 2015 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 June 30, 2016 and December 31, 2015 . We impute interest for loans with no stated interest rates. The weighted average interest rate on $107.5 million of the loans as of June 30, 2016 was 5.1% per annum, and $50.7 million of the loans were non-interest bearing.

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2016
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 warehouse borrowings and loans payable and other borrowings 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 Revolving Credit Facility is the outstanding borrowing amount, gross of debt issuance cost, due to its short-term nature and variable interest rates. The fair value of the contingent consideration liability related to previous acquisitions was estimated by discounting to present value the contingent payments expected to be made for each acquisition based on a probability-weighted scenario approach. As the measurement of the contingent consideration is based primarily on significant inputs not observable in the market, it represents a Level 3 measurement. The carrying value and fair value of our financial instruments are as follows (in thousands): June 30, 2016 December 31, 2015 Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Description: Mortgage loans held for sale 2 $ 145,963 $ 145,963 $ 201,733 $ 201,733 Mortgage warehouse borrowings 2 118,099 118,099 183,444 183,444 Loans payable and other borrowings 2 158,244 158,244 134,824 134,824 5.25% Senior Notes due 2021 (1) 2 544,312 548,625 543,713 552,750 5.875% Senior Notes due 2023 (1) 2 346,147 349,125 345,840 346,500 5.625% Senior Notes due 2024 (1) 2 345,873 341,250 345,604 336,000 Revolving Credit Facility (1) 2 210,705 215,000 109,947 115,000 Contingent consideration liability 3 15,711 15,711 20,082 20,082 (1) Carrying value for Senior Notes and the Revolving Credit Facility, as presented, includes unamortized debt issuance costs. Debt issuance costs are not factored into the fair value calculation for the Senior Notes.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective tax rate for the three and six months ended June 30, 2016 and June 30, 2015 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 and credits relating to homebuilding activities. As of June 30, 2016 , cumulative gross unrecognized tax benefits were $7.3 million , and all unrecognized tax benefits, if recognized, would favorably affect the effective tax rate. As of December 31, 2015 , cumulative gross unrecognized tax benefits were $7.0 million . These amounts are included in deferred tax assets and income taxes payable in the accompanying Condensed Consolidated Balance Sheets at June 30, 2016 and December 31, 2015 . 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	6 Months Ended
	Jun. 30, 2016
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 outstanding TMHC Common Stock at June 30, 2016 are as follows: Shares Outstanding Percentage Class A Common Stock 30,566,122 25.5 % Class B Common Stock 89,106,748 74.5 % Total 119,672,870 100 % Stock Repurchase Program Our Board of Directors has authorized the repurchase of up to $50.0 million of the Company’s Class A Common Stock through December 31, 2016 in open market purchases, privately negotiated transactions or other transactions. The stock repurchase program is subject to prevailing market conditions and other considerations, including our liquidity, the terms of our debt instruments, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements. During the three and six months ended June 30, 2016 , there were an aggregate of 1,333,873 and 1,671,633 shares of Class A Common Stock repurchased for $19.7 million and $24.7 million , respectively. During the quarter and year ended December 31, 2015, there were an aggregate of 934,434 shares of Class A Common Stock repurchased for $15.0 million .

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2016
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, which was amended and restated in May 2016 (the “Plan”). The Plan provides for the grant of stock options, RSUs and other equity awards based on our common stock. As of June 30, 2016 we had an aggregate of 3,852,036 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 except as described in Note 2 below, is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Restricted stock units (RSUs) (1) $ 1,755 $ 818 $ 3,138 $ 1,426 Stock options 1,061 828 2,018 2,798 New TMM units 381 393 761 912 Total stock compensation (2) $ 3,197 $ 2,039 $ 5,917 $ 5,136 Income tax expense recognized $ (20 ) $ (3 ) $ (22 ) $ (7 ) (1) Includes compensation expense related to time-based RSUs and performance-based RSUs. (2) Included in the table above for the six months ended June 30, 2015 is $ 1.5 million of stock compensation expense related to the acceleration of vesting for equity awards held by Monarch employees. The sale of Monarch triggered a change in control provision provided for in the respective award agreements and plan document. The expense related to the acceleration of awards is included in transaction expenses from discontinued operations in the accompanying Condensed Consolidated Statement of Operations for the six months ended June 30, 2015. At June 30, 2016 and December 31, 2015 , the aggregate unrecognized value of all outstanding stock-based compensation awards was approximately $25.7 million and $15.2 million , respectively. Restricted Stock Units – The following table summarizes the time-based RSU and performance-based RSU activity for the six months ended June 30, 2016 : Shares Weighted Average Grant Date Fair Value Balance at December 31, 2015 441,296 $ 13.55 Granted 1,083,345 11.37 Vested (13,334 ) 19.50 Forfeited (36,824 ) 13.38 Balance at June 30, 2016 1,474,483 $ 13.38 During the three and six months ended June 30, 2016 , we issued time-based RSU awards and performance-based RSU awards to certain employees and members of the Board of Directors of the Company. Our time-based RSUs consist of units to be settled in shares of Class A Common Stock awarded to our employees and members of our Board of Directors. Vesting of RSUs is subject to continued employment with TMHC or an affiliate, or continued service on the Board of Directors, through the applicable vesting dates. Time-based RSUs granted to employees generally become vested with respect to 33% of the RSUs on the second, third, and fourth anniversaries of the grant date. Time-based RSUs granted to members of the Board of Directors generally become vested on the first anniversary of the grant date. Additionally, we issued performance-based RSUs to certain employees of the Company. These awards will vest in full based on the achievement of certain performance goals over a three -year performance period, subject to the employee’s continued employment through the last date of the performance period and will be settled in shares of our Class A common stock. The number of shares that may be issued in settlement of the performance-based RSUs to the award recipients may be greater or lesser than the target award amount depending on actual performance achieved as compared to the performance targets set forth in the awards. Stock Options – The following table summarizes the stock option activity for the six months ended June 30, 2016 : Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2015 1,507,765 $ 21.07 Granted 1,133,642 11.54 Canceled/Forfeited (37,790 ) 13.58 Outstanding at June 30, 2016 2,603,617 $ 17.03 Options exercisable at June 30, 2016 623,133 $ 21.52 Options granted to employees vest and become exercisable ratably on the second, third, fourth and fifth anniversary of the date of grant. Options granted to members of the Board of Directors vest and become exercisable ratably on the first, second and third anniversary of the date of grant. Vesting of the options is subject to continued employment with TMHC or an affiliate, or continued service on the Board of Directors, through the applicable vesting dates and expires within ten years from the date of grant. 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 six months ended June 30, 2015, we paid $1.4 million in settlement of these awards; there was no activity for the six months ended June 30, 2016 . 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 held by management and our Board of Directors outstanding as of June 30, 2016 were as follows: Class B Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2015 1,312,874 $ 5.45 Forfeited (2) (1,821 ) 10.20 Balance at June 30, 2016 1,311,053 $ 5.83 (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	6 Months Ended
	Jun. 30, 2016
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 and six months ended June 30, 2016 , there were no such transactions. For the three and six months ended June 30, 2015 , there were $ 16.8 million in real estate inventory acquisitions from such affiliates. 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 entered into with unrelated third parties.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME The table below provides the components of accumulated other comprehensive income (loss) (“AOCI”)for the periods presented (in thousands). There was no AOCI activity in the three months ended June 30, 2016, therefore is not presented below. Six Months Ended June 30, 2016 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 2,305 $ (79,927 ) $ 59,625 $ (17,997 ) Other comprehensive loss before reclassifications (447 ) — — (447 ) Other comprehensive loss, net of tax $ (447 ) $ — $ — $ (447 ) Gross amounts reclassified within accumulated other comprehensive income — — 329 329 Balance, end of period $ 1,858 $ (79,927 ) $ 59,954 $ (18,115 ) Three Months Ended June 30, 2015 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 678 $ (79,561 ) $ 61,033 $ (17,850 ) Other comprehensive income before reclassifications — 199 — 199 Other comprehensive income, net of tax $ — $ 199 $ — $ 199 Gross amounts reclassified within accumulated other comprehensive income — — (195 ) (195 ) Balance, end of period $ 678 $ (79,362 ) $ 60,838 $ (17,846 ) Six Months Ended June 30, 2015 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 (27,214 ) — (26,945 ) 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 $ (27,214 ) $ (518 ) $ (25,457 ) Gross amounts reclassified within accumulated other comprehensive (loss)/income (2,289 ) — 20,810 18,521 Balance, end of period $ 678 $ (79,362 ) $ 60,838 $ (17,846 ) Reclassifications for the amortization of the employee retirement plans are included in selling, general and administrative expense in the accompanying Condensed Consolidated Statements of Operations.

Operating and Reporting Segment

Operating and Reporting Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Operating and Reporting Segments	OPERATING AND REPORTING SEGMENTS As of December 31, 2015, we realigned our homebuilding reporting segments to be the East, Central and West homebuilding operating regions. Among these, we have multiple homebuilding operating divisions which 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 title services segment. We have no inter-segment sales as all sales are to external customers. Our reporting segments are as follows: East Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa Central Austin, Dallas and Houston (which includes a Taylor Morrison division and a Darling Homes division) West Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California Mortgage Operations Taylor Morrison Home Funding and Inspired Title Management primarily evaluates segment performance based on GAAP gross margin, defined as homebuilding and land revenue less cost of home construction, 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. As a result of our realignment, historical periods in the financial statements have been recast to give effect to the segment changes. Segment information, excluding discontinued operations, is as follows (in thousands): Three Months Ended June 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 255,806 $ 242,010 $ 343,002 $ 13,498 $ — $ 854,316 Gross margin 52,828 43,830 57,789 5,305 — 159,752 Selling, general and administrative expenses (25,813 ) (23,159 ) (22,828 ) — (19,092 ) (90,892 ) Equity in income/(loss) of unconsolidated entities 308 (164 ) 740 1,421 — 2,305 Interest and other (expense)/income, net (777 ) (394 ) (1,131 ) 10 (1,105 ) (3,397 ) Income from continuing operations before income taxes $ 26,546 $ 20,113 $ 34,570 $ 6,736 $ (20,197 ) $ 67,768 Three Months Ended June 30, 2015 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 181,847 $ 263,284 $ 245,999 $ 9,843 $ — $ 700,973 Gross margin 39,844 51,233 41,835 3,747 — 136,659 Selling, general and administrative expenses (16,499 ) (21,954 ) (17,193 ) — (15,580 ) (71,226 ) Equity in income/(loss) of unconsolidated entities 241 471 (242 ) 755 — 1,225 Interest and other (expense)/income, net (745 ) (3,595 ) 813 — 146 (3,381 ) Loss on extinguishment of debt — — — — (33,317 ) (33,317 ) Income from continuing operations before income taxes $ 22,841 $ 26,155 $ 25,213 $ 4,502 $ (48,751 ) $ 29,960 Six Months Ended June 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 433,528 $ 442,511 $ 600,470 $ 23,136 $ — $ 1,499,645 Gross margin 90,658 81,296 98,020 8,419 — 278,393 Selling, general and administrative expenses (46,618 ) (42,767 ) (42,429 ) — (36,343 ) (168,157 ) Equity in income/(loss) of unconsolidated entities 307 (221 ) 985 2,016 — 3,087 Interest and other (expense)/income, net (1,955 ) (2,060 ) (949 ) 10 (1,610 ) (6,564 ) Income from continuing operations before income taxes $ 42,392 $ 36,248 $ 55,627 $ 10,445 $ (37,953 ) $ 106,759 Six Months Ended June 30, 2015 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 299,811 $ 451,075 $ 442,025 $ 17,478 $ — $ 1,210,389 Gross margin 66,353 86,188 72,381 6,320 — 231,242 Selling, general and administrative expenses (29,206 ) (39,627 ) (30,812 ) — (28,505 ) (128,150 ) Equity in income/(loss) of unconsolidated entities 240 615 (422 ) 1,094 — 1,527 Interest and other (expense)/income, net (1,025 ) (7,023 ) 529 — (1,581 ) (9,100 ) Loss on extinguishment of debt — — — — (33,317 ) (33,317 ) Gain on foreign currency forward — — — — 29,983 29,983 Income from continuing operations before income taxes $ 36,362 $ 40,153 $ 41,676 $ 7,414 $ (33,420 ) $ 92,185 As of June 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,056,570 $ 788,819 $ 1,436,146 $ — $ — $ 3,281,535 Investments in unconsolidated entities 25,233 28,779 92,617 3,215 — 149,844 Other assets 76,104 149,206 50,463 164,064 359,872 799,709 Total assets $ 1,157,907 $ 966,804 $ 1,579,226 $ 167,279 $ 359,872 $ 4,231,088 As of December 31, 2015 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 927,359 $ 757,863 $ 1,475,678 $ — $ — $ 3,160,900 Investments in unconsolidated entities 24,098 28,832 72,646 2,872 — 128,448 Other assets 52,817 164,192 74,379 237,430 299,228 828,046 Total assets $ 1,004,274 $ 950,887 $ 1,622,703 $ 240,302 $ 299,228 $ 4,117,394

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
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 $404.6 million and $394.8 million as of June 30, 2016 and December 31, 2015 , 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 June 30, 2016 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 June 30, 2016 and December 31, 2015 , our legal accruals were $1.9 million and $0.8 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 Accoun27

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
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 generally accepted accounting principles 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 2015 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 loss in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statement of Stockholders’ Equity.
Discontinued Operations	Discontinued Operations – As a result of our decision in December 2014 to divest of Monarch Corporation (“Monarch”), our former Canadian operating segment, the operating results and financial position of the Monarch business are presented as discontinued operations for the three and six months ended June 30, 2015 .
Non-controlling interests	Non-controlling interests –In connection with a series of transactions consummated at the time of the Company’s IPO (the “Reorganization Transactions”), the Company became the sole owner of the general partner of TMM Holdings II Limited Partnership (“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 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. (“JH” and together with the TPG Entities and Oaktree Entities, the “Principal Equityholders”) or by members of management and the Board of Directors.
Joint Ventures	Joint Ventures - We consolidate certain joint ventures in accordance with Accounting Standards Codification (“ ASC ” ) Topic 810 , “ Consolidation .” The income from the percentage of the joint venture not owned by us is presented as “Net income attributable to non-controlling interests - joint ventures” on the Condensed Consolidated Statements of Operations.
Reclassifications	Reclassifications - Prior period amounts related to debt issuance costs have been reclassified to conform with current period financial statement presentation as a result of adopting Accounting Standards Update (“ ASU ” ) 2015-03, Simplifying the Presentation of Debt Issuance Costs . Approximately $19.9 million of such costs as of December 31, 2015 have been reclassified from prepaid expenses and other assets to their respective debt liability.
Business Combinations	Business Combinations — Acquisitions are accounted for in accordance with ASC Topic 805-10, Business Combinations. In connection with our acquisitions, we determined we obtained control of a business and its inputs, processes and outputs in exchange for cash and other consideration. All material assets and liabilities, including contingent consideration, were measured and recognized at fair value as of the date of the acquisition to reflect the purchase price paid, which resulted in goodwill for each transaction. Refer to Note 3 - Business Combinations for further information regarding the purchase price allocation and related acquisition accounting.
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 goodwill, 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 limited partnership interests of TMM Holdings Limited Partnership (“TMM Holdings”) 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.
Real Estate Inventory	Real Estate Inventory — Inventory consists of raw land, land under development, land held for future development, homes under construction, completed homes and model homes. Inventory is carried at cost, less impairment, if applicable. In addition to direct carrying costs, we also capitalize interest, real estate taxes, and related development costs that benefit the entire community, such as field construction supervision and direct overhead. Home construction costs are accumulated and charged to cost of sales at home closing using the specific identification method. All other overhead costs are allocated to closed homes using the relative sales value method. These costs are capitalized to inventory from the point development begins to the point construction is completed. Changes in estimated costs to be incurred in a community (cost to complete) are generally allocated to the remaining homes on a prospective basis. For those communities that have been temporarily closed or where development has been discontinued, costs are expensed as incurred until operations resume. We review our real estate inventory for indicators of impairment by community on a quarterly basis. In conducting our impairment analysis, we evaluate 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. If indicators of impairment are present for a community, we perform an additional analysis to determine if the carrying value of the assets in that community exceeds the undiscounted cash flows estimated to be generated by those assets. If the carrying value of the assets does exceed their estimated undiscounted cash flows, the assets are deemed to be impaired and are recorded at fair value as of the assessment date. An impairment charge is taken in the period with a charge to cost of home closings. For the three and six months ended June 30, 2016 and 2015 , no impairment charges were recorded. In certain cases, we may elect to cease development and/or marketing of an existing community if we believe the economic performance of the community would be maximized by deferring development for a period of time to allow for market conditions to improve. The decision may be based on financial and/or operational metrics as determined by management. If we decide to cease developing a project, we will evaluate the project for impairment and then cease future development and marketing activity until such a time when we believe that market conditions have improved and economic performance can be maximized. In the ordinary course of business, we enter into various specific performance agreements to acquire lots. Real estate not owned under these agreements is consolidated into real estate inventory with a corresponding liability in liabilities attributable to real estate not owned under option agreements in the Condensed Consolidated Balance Sheets.
Land Deposits	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. To the extent the deposits are non-refundable, they are charged to expense if the land acquisition process is terminated or no longer determined probable. We review the likelihood of the acquisition of contracted lots in conjunction with our periodic real estate inventory impairment analysis. Non-refundable deposits are recorded as a component of real estate inventory in the accompanying Condensed Consolidated Balance Sheets at the time the deposit is applied to the acquisition price of the land based on the terms of the underlying agreements.
Investments in Consolidated and Unconsolidated Entities	Investments in Consolidated and Unconsolidated Entities Consolidated Joint Ventures — In the ordinary course of business, we participate in strategic land development and homebuilding joint ventures with third parties. The use of these entities, in some instances, enables us to acquire land to which we could not otherwise obtain access, or could not obtain access on terms that are as favorable. Some of these joint ventures develop land for the sole use of the venture participants and others develop land for sale to the venture participants and to unrelated builders. In addition, we are involved with third parties who are involved in land development and homebuilding activities, including home sales. We review such contracts to determine whether they are a variable interest entity ("VIE"). In accordance with ASC Topic 810, “ Consolidation ,” for each VIE, we assess whether we are the primary beneficiary by first determining if we have the ability to control the activities of the VIE that most significantly affect its economic performance. Such activities include, but are not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with us; and the ability to change or amend the existing option contract with the VIE. If we are not able to control such activities, we are not considered the primary beneficiary of the VIE. If we do have the ability to control such activities, we continue our analysis to determine if we are expected to absorb a potentially significant amount of the VIE’s losses or, if no party absorbs the majority of such losses, if we will potentially benefit from a significant amount of the VIE’s expected returns. For these entities in which we are expected to absorb the losses or benefits, we consolidate the results in the accompanying Condensed Consolidated Financial Statements. Unconsolidated Joint Ventures — We use the equity method of accounting for entities over which we exercise significant influence but do not have a controlling interest over the operating and financial policies of the investee. For unconsolidated entities in which we function as the managing member, we have evaluated the rights held by our joint venture partners and determined that they have substantive participating rights that preclude the presumption of control. For joint ventures accounted for using the equity method, our share of net earnings or losses is included in equity in income of unconsolidated entities when earned and distributions are credited against our investment in the joint venture when received. These joint ventures are recorded in investments in unconsolidated entities on the Condensed Consolidated Balance Sheets. We evaluate our investments in unconsolidated entities for indicators of impairment quarterly. A series of operating losses of an investee or other factors may indicate that a decrease in value of our investment in the unconsolidated entity has occurred which is other-than-temporary. The amount of impairment recognized is the excess of the investment’s carrying amount over its estimated fair value. Additionally, we consider various qualitative factors to determine if a decrease in the value of the investment is other-than-temporary. These factors include age of the venture, stage in its life cycle, intent and ability for us to recover our investment in the entity, financial condition and long-term prospects of the entity, short-term liquidity needs of the unconsolidated entity, trends in the general economic environment of the land, entitlement status of the land held by the unconsolidated entity, overall projected returns on investment, defaults under contracts with third parties (including bank debt), recoverability of the investment through future cash flows and relationships with the other partners. If the Company believes that the decline in the fair value of the investment is temporary, then no impairment is recorded.
Goodwill	Goodwill — The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC Topic 350, “ Intangibles — Goodwill and Other ” (“ASC 350”). ASC 350 requires that goodwill and intangible assets that do not have finite lives not be amortized, but rather assessed for impairment at least annually or more frequently if certain impairment indicators are present. We perform our annual impairment test during the fourth quarter or whenever impairment indicators are present.
Stock Based Compensation	Stock Based Compensation — We have stock options, performance-based restricted stock units and non-performance based restricted stock units which we account for in accordance with ASC Topic 718-10, “ Compensation — Stock Compensation.” The fair value for stock options is measured and estimated on the date of grant using the Black-Scholes option pricing model and recognized evenly over the vesting period of the options. Performance-based restricted stock units are measured using the closing price on the date of grant and expensed using a probability of attainment calculation which determines the likelihood of achieving the performance targets. Non-performance based restricted stock units are time based awards and measured using the closing price on the date of grant and are expensed over the vesting period on a straight-line basis.
Treasury Stock	Treasury Stock — We account for treasury stock in accordance with ASC Topic 505-30, “ Equity - Treasury Stock.” Repurchased shares are reflected as a reduction in Stockholders’ Equity and subsequent sale of repurchased shares are recognized as a change in Equity. When factored into our weighted average calculations for purposes of earnings per share, the number of repurchased shares is based on the trade date.
Revenue Recognition	Revenue Recognition Home closings revenue, net — Home closings revenue is recorded using the completed-contract method of accounting at the time each home is delivered, title and possession are transferred to the buyer, we have no significant continuing involvement with the home, risk of loss has transferred, the buyer has demonstrated sufficient investment in the property, and the receivable, if any, from the homeowner or escrow agent is not subject to future subordination. We typically grant our homebuyers certain sales incentives, including cash discounts, incentives on options included in the home, option upgrades, and seller-paid financing or closing costs. Incentives and discounts are accounted for as a reduction in the sales price of the home and home closings revenue is shown net of discounts. We also receive rebates from certain vendors and these rebates are accounted for as a reduction to cost of home closings. Land closings revenue — Revenue from land sales are recognized when title is transferred to the buyer, there is no significant continuing involvement, and the buyer has demonstrated sufficient investment in the property sold. If the buyer has not made an adequate investment in the property, the profit on such sales is deferred until these conditions are met. Mortgage operations revenue — Loan origination fees (including title fees, points, closing costs) are recognized at the time the related real estate transactions are completed, usually upon the close of escrow. All of the loans TMHF originates are sold to third party investors within a short period of time, on a non-recourse basis. Gains and losses from the sale of mortgages are recognized in accordance with ASC Topic 860-20, “ Sales of Financial Assets. ” TMHF does not have continuing involvement with the transferred assets, therefore we derecognize the mortgage loans at time of sale, based on the difference between the selling price and carrying value of the related loans upon sale, recording a gain/loss on sale in the period of sale.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements — In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 is intended to simplify several areas of stock compensation including its tax consequences, liability vs. equity classification, and statement of cash flows presentation. ASU 2016-09 will be effective for us in our fiscal year beginning January 1, 2017. We are currently evaluating the impact the adoption of ASU 2016-09 will have on our condensed consolidated financial statements and disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 primarily impacts off-balance sheet operating leases and will require such leases, with the exception of short-term leases, to be recorded on the balance sheet. Lessor accounting is not significantly impacted by the new guidance, however certain updates were made to align lessee and lessor treatment. ASU 2016-02 will be effective for us in our fiscal year beginning January 1, 2019. We are currently evaluating the impact the adoption of ASU 2016-02 will have on our condensed consolidated financial statements and 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 an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. In doing so, entities will generally need to use more judgment and make more estimates than under current 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. We are currently evaluating the method and impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements and disclosures.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Created	2016 Acquisition The Company has completed an allocation of purchase price as of the acquisition date and expects to finalize the allocation within one year from the date of acquisition. The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created (in thousands): Acadia Homes Acquisition Date January 8, 2016 Assets acquired Real estate inventory $ 76,152 Land deposits 984 Prepaid expenses and other assets 816 Property and equipment 204 Goodwill (1) 8,500 Total assets $ 86,656 Less liabilities assumed Accrued expenses and other liabilities $ 2,562 Customer deposits 463 Net assets acquired $ 83,631 (1) Goodwill is fully deductible for tax purposes. The goodwill was allocated to our East homebuilding segment. 2015 Acquisitions The Company performed an allocation of purchase price as of each acquisition date. The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created (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 (1) 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 Net assets acquired $ 66,380 $ 167,314 $ 233,694 (1) Goodwill is fully deductible for tax purposes. We allocated $27.8 million and $6.5 million of goodwill to our East and West homebuilding segments, respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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 Six Months Ended 2016 2015 2016 2015 Numerator: Net income available to TMHC – basic $ 11,685 $ 5,077 $ 18,498 $ 31,039 Income from discontinued operations, net of tax — — — 56,662 Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders — — — (41,381 ) Net income from discontinued operations – basic $ — $ — $ — $ 15,281 Net income from continuing operations – basic $ 11,685 $ 5,077 $ 18,498 $ 15,758 Net income from continuing operations – basic $ 11,685 $ 5,077 $ 18,498 $ 15,758 Net income from continuing operations attributable to non-controlling interest – Principal Equityholders 33,683 14,024 52,790 43,157 Loss fully attributable to public holding company 100 110 173 229 Net income from continuing operations – diluted $ 45,468 $ 19,211 $ 71,461 $ 59,144 Net income from discontinued operations – diluted $ — $ — $ — $ 56,662 Denominator: Weighted average shares – basic (Class A) 31,574 33,076 31,742 33,071 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 89,107 89,200 89,107 89,203 Restricted stock units 366 133 367 108 Stock Options 5 — 1 — Weighted average shares – diluted 121,052 122,409 121,217 122,382 Earnings per common share – basic: Income from continuing operations $ 0.37 $ 0.15 $ 0.58 $ 0.48 Income from discontinued operations, nets of tax $ — $ — $ — $ 0.46 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.15 $ 0.58 $ 0.94 Earnings per common share – diluted: Income from continuing operations $ 0.37 $ 0.15 $ 0.58 $ 0.48 Income from discontinued operations, net of tax $ — $ — $ — $ 0.46 Net income available to Taylor Morrison Home Corporation $ 0.37 $ 0.15 $ 0.58 $ 0.94

Real Estate Inventory and Lan30

Real Estate Inventory and Land Deposits (Tables)	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of June 30, 2016 December 31, 2015 Real estate developed and under development $ 2,184,842 $ 2,167,771 Real estate held for development or held for sale (1) 187,869 173,448 Operating communities (2) 758,534 672,499 Capitalized interest 111,063 105,148 Total owned inventory 3,242,308 3,118,866 Real estate not owned under option agreements 612 7,921 Total real estate inventory $ 3,242,920 $ 3,126,787 (1) Real estate held for development or held for sale includes properties which are not in active production. This includes raw land recently purchased or awaiting entitlement, future phases of current projects that will be developed as prior phases sell out, and mothball communities. (2) Operating communities consists of all vertical construction costs relating to homes in progress and completed homes for all active production of inventory.
Schedule of Development Status of Land Inventory	The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2016 December 31, 2015 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 7,042 $ 349,391 8,300 $ 378,081 Partially developed 7,942 490,327 8,904 645,276 Finished 13,478 1,520,755 12,294 1,305,697 Long-term strategic assets 3,105 12,238 3,105 12,165 Total 31,567 $ 2,372,711 32,603 $ 2,341,219
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Interest capitalized - beginning of period $ 110,962 $ 103,892 $ 105,148 $ 94,880 Interest incurred 22,201 23,268 44,445 48,307 Interest amortized to cost of home closings (22,100 ) (20,690 ) (38,530 ) (36,717 ) Interest capitalized - end of period $ 111,063 $ 106,470 $ 111,063 $ 106,470

Investments in Unconsolidated31

Investments in Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information of Unconsolidated Entities Accounted by Equity Method	Summarized, unaudited combined financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 612,478 $ 586,359 Other assets 170,713 119,781 Total assets $ 783,191 $ 706,140 Liabilities and owners’ equity: Debt $ 283,845 $ 273,769 Other liabilities 28,544 11,239 Total liabilities 312,389 285,008 Owners’ equity: TMHC 149,844 128,448 Others 320,958 292,684 Total owners’ equity 470,802 421,132 Total liabilities and owners’ equity $ 783,191 $ 706,140 Three Months Ended Six Months Ended 2016 2015 2016 2015 Revenues $ 37,042 $ 15,777 $ 49,662 $ 17,473 Costs and expenses (30,110 ) (12,859 ) (40,220 ) (14,030 ) Income of unconsolidated entities $ 6,932 $ 2,918 $ 9,442 $ 3,443 TMHC’s share in income of unconsolidated entities $ 2,305 $ 1,225 $ 3,087 $ 1,527 Distributions of earnings from unconsolidated entities $ 3,218 $ 7,787 $ 3,329 $ 8,294

Accrued Expenses and Other Li32

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
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 $ 13,126 $ 21,325 Compensation and employee benefits 42,541 47,674 Self-insurance and warranty reserves 44,342 43,098 Interest payable 17,975 18,621 Property and sales taxes payable 9,776 15,233 Other accruals 47,524 45,501 Total accrued expenses and other liabilities $ 175,284 $ 191,452
Summary of Changes in Reserves	Self-Insurance and Warranty Reserves – We accrue for the expected costs associated with the limited one year warranty, deductibles and self-insured amounts under our various insurance policies within Beneva Indemnity Company ("Beneva") a wholly owned subsidiary. A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Reserve - beginning of period $ 43,195 $ 42,956 $ 43,098 $ 44,595 Additions to reserves 5,015 4,814 10,783 7,514 Costs and claims incurred (5,962 ) (5,516 ) (12,547 ) (11,450 ) Change in estimates to pre-existing reserves 2,094 335 3,008 1,930 Reserve - end of period $ 44,342 $ 42,589 $ 44,342 $ 42,589

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Senior Notes and Other Borrowings	Total debt consists of the following (in thousands): As of June 30, 2016 December 31, 2015 Principal Unamortized Debt Issuance Costs Carrying Value Principal Unamortized Debt Issuance Costs Carrying Value 5.25% Senior Notes due 2021, unsecured $ 550,000 $ 5,688 $ 544,312 $ 550,000 $ 6,287 $ 543,713 5.875% Senior Notes due 2023, unsecured 350,000 3,853 346,147 350,000 4,160 345,840 5.625% Senior Notes due 2024, unsecured 350,000 4,127 345,873 350,000 4,396 345,604 Senior Notes subtotal 1,250,000 13,668 1,236,332 1,250,000 14,843 1,235,157 Loans payable and other borrowings 158,244 — 158,244 134,824 — 134,824 Revolving Credit Facility 215,000 4,295 210,705 115,000 5,053 109,947 Mortgage warehouse borrowings 118,099 — 118,099 183,444 — 183,444 Total Senior Notes and bank financing $ 1,741,343 $ 17,963 $ 1,723,380 $ 1,683,268 $ 19,896 $ 1,663,372
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2016 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 28,453 $ 30,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 33,161 50,000 LIBOR + 2.25% November 16, 2016 Mortgage Loans J.P. Morgan 56,485 100,000 LIBOR + 2.375% September 26, 2016 Mortgage Loans and Pledged Cash Total $ 118,099 $ 180,000 As of December 31, 2015 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 63,210 $ 75,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 18,009 50,000 LIBOR + 2.25% November 16, 2016 Mortgage Loans J.P. Morgan 102,225 120,000 (2) September 26, 2016 Mortgage Loans and Pledged Cash Total $ 183,444 $ 245,000 (1) The mortgage warehouse borrowings outstanding as of June 30, 2016 and December 31, 2015 , are collateralized by $146.0 million and $201.7 million , respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale and $1.3 million , for both periods presented, which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets. (2) Through the date of expiration of September 28, 2015, interest under the J.P. Morgan agreement ranged from 2.50% 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)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of our financial instruments are as follows (in thousands): June 30, 2016 December 31, 2015 Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Description: Mortgage loans held for sale 2 $ 145,963 $ 145,963 $ 201,733 $ 201,733 Mortgage warehouse borrowings 2 118,099 118,099 183,444 183,444 Loans payable and other borrowings 2 158,244 158,244 134,824 134,824 5.25% Senior Notes due 2021 (1) 2 544,312 548,625 543,713 552,750 5.875% Senior Notes due 2023 (1) 2 346,147 349,125 345,840 346,500 5.625% Senior Notes due 2024 (1) 2 345,873 341,250 345,604 336,000 Revolving Credit Facility (1) 2 210,705 215,000 109,947 115,000 Contingent consideration liability 3 15,711 15,711 20,082 20,082 (1) Carrying value for Senior Notes and the Revolving Credit Facility, as presented, includes unamortized debt issuance costs. Debt issuance costs are not factored into the fair value calculation for the Senior Notes.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Components and Voting Power of Outstanding Common Stock	The components and respective voting power of outstanding TMHC Common Stock at June 30, 2016 are as follows: Shares Outstanding Percentage Class A Common Stock 30,566,122 25.5 % Class B Common Stock 89,106,748 74.5 % Total 119,672,870 100 %

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Summary of Stock-Based Compensation Expense	The following table provides information regarding the amount and components of stock-based compensation expense, which except as described in Note 2 below, is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Restricted stock units (RSUs) (1) $ 1,755 $ 818 $ 3,138 $ 1,426 Stock options 1,061 828 2,018 2,798 New TMM units 381 393 761 912 Total stock compensation (2) $ 3,197 $ 2,039 $ 5,917 $ 5,136 Income tax expense recognized $ (20 ) $ (3 ) $ (22 ) $ (7 ) (1) Includes compensation expense related to time-based RSUs and performance-based RSUs. (2) Included in the table above for the six months ended June 30, 2015 is $ 1.5 million of stock compensation expense related to the acceleration of vesting for equity awards held by Monarch employees. The sale of Monarch triggered a change in control provision provided for in the respective award agreements and plan document. The expense related to the acceleration of awards is included in transaction expenses from discontinued operations in the accompanying Condensed Consolidated Statement of Operations for the six months ended June 30, 2015.
Summary of Activity of Stock Units	Stock Options – The following table summarizes the stock option activity for the six months ended June 30, 2016 : Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2015 1,507,765 $ 21.07 Granted 1,133,642 11.54 Canceled/Forfeited (37,790 ) 13.58 Outstanding at June 30, 2016 2,603,617 $ 17.03 Options exercisable at June 30, 2016 623,133 $ 21.52
Summary of Stock Option Activity	The shares of Class B Common Stock/New TMM Units held by management and our Board of Directors outstanding as of June 30, 2016 were as follows: Class B Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2015 1,312,874 $ 5.45 Forfeited (2) (1,821 ) 10.20 Balance at June 30, 2016 1,311,053 $ 5.83 (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.
Class B Common Stock/New TMM Units [Member]
Summary of Activity of Stock Units	The shares of Class B Common Stock/New TMM Units held by management and our Board of Directors outstanding as of June 30, 2016 were as follows: Class B Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2015 1,312,874 $ 5.45 Forfeited (2) (1,821 ) 10.20 Balance at June 30, 2016 1,311,053 $ 5.83 (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 Units – The following table summarizes the time-based RSU and performance-based RSU activity for the six months ended June 30, 2016 : Shares Weighted Average Grant Date Fair Value Balance at December 31, 2015 441,296 $ 13.55 Granted 1,083,345 11.37 Vested (13,334 ) 19.50 Forfeited (36,824 ) 13.38 Balance at June 30, 2016 1,474,483 $ 13.38

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The table below provides the components of accumulated other comprehensive income (loss) (“AOCI”)for the periods presented (in thousands). There was no AOCI activity in the three months ended June 30, 2016, therefore is not presented below. Six Months Ended June 30, 2016 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 2,305 $ (79,927 ) $ 59,625 $ (17,997 ) Other comprehensive loss before reclassifications (447 ) — — (447 ) Other comprehensive loss, net of tax $ (447 ) $ — $ — $ (447 ) Gross amounts reclassified within accumulated other comprehensive income — — 329 329 Balance, end of period $ 1,858 $ (79,927 ) $ 59,954 $ (18,115 ) Three Months Ended June 30, 2015 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 678 $ (79,561 ) $ 61,033 $ (17,850 ) Other comprehensive income before reclassifications — 199 — 199 Other comprehensive income, net of tax $ — $ 199 $ — $ 199 Gross amounts reclassified within accumulated other comprehensive income — — (195 ) (195 ) Balance, end of period $ 678 $ (79,362 ) $ 60,838 $ (17,846 ) Six Months Ended June 30, 2015 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 (27,214 ) — (26,945 ) 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 $ (27,214 ) $ (518 ) $ (25,457 ) Gross amounts reclassified within accumulated other comprehensive (loss)/income (2,289 ) — 20,810 18,521 Balance, end of period $ 678 $ (79,362 ) $ 60,838 $ (17,846 )

Operating and Reporting Segme38

Operating and Reporting Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information Excluding Discontinued Operations	Segment information, excluding discontinued operations, is as follows (in thousands): Three Months Ended June 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 255,806 $ 242,010 $ 343,002 $ 13,498 $ — $ 854,316 Gross margin 52,828 43,830 57,789 5,305 — 159,752 Selling, general and administrative expenses (25,813 ) (23,159 ) (22,828 ) — (19,092 ) (90,892 ) Equity in income/(loss) of unconsolidated entities 308 (164 ) 740 1,421 — 2,305 Interest and other (expense)/income, net (777 ) (394 ) (1,131 ) 10 (1,105 ) (3,397 ) Income from continuing operations before income taxes $ 26,546 $ 20,113 $ 34,570 $ 6,736 $ (20,197 ) $ 67,768 Three Months Ended June 30, 2015 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 181,847 $ 263,284 $ 245,999 $ 9,843 $ — $ 700,973 Gross margin 39,844 51,233 41,835 3,747 — 136,659 Selling, general and administrative expenses (16,499 ) (21,954 ) (17,193 ) — (15,580 ) (71,226 ) Equity in income/(loss) of unconsolidated entities 241 471 (242 ) 755 — 1,225 Interest and other (expense)/income, net (745 ) (3,595 ) 813 — 146 (3,381 ) Loss on extinguishment of debt — — — — (33,317 ) (33,317 ) Income from continuing operations before income taxes $ 22,841 $ 26,155 $ 25,213 $ 4,502 $ (48,751 ) $ 29,960 Six Months Ended June 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 433,528 $ 442,511 $ 600,470 $ 23,136 $ — $ 1,499,645 Gross margin 90,658 81,296 98,020 8,419 — 278,393 Selling, general and administrative expenses (46,618 ) (42,767 ) (42,429 ) — (36,343 ) (168,157 ) Equity in income/(loss) of unconsolidated entities 307 (221 ) 985 2,016 — 3,087 Interest and other (expense)/income, net (1,955 ) (2,060 ) (949 ) 10 (1,610 ) (6,564 ) Income from continuing operations before income taxes $ 42,392 $ 36,248 $ 55,627 $ 10,445 $ (37,953 ) $ 106,759 Six Months Ended June 30, 2015 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 299,811 $ 451,075 $ 442,025 $ 17,478 $ — $ 1,210,389 Gross margin 66,353 86,188 72,381 6,320 — 231,242 Selling, general and administrative expenses (29,206 ) (39,627 ) (30,812 ) — (28,505 ) (128,150 ) Equity in income/(loss) of unconsolidated entities 240 615 (422 ) 1,094 — 1,527 Interest and other (expense)/income, net (1,025 ) (7,023 ) 529 — (1,581 ) (9,100 ) Loss on extinguishment of debt — — — — (33,317 ) (33,317 ) Gain on foreign currency forward — — — — 29,983 29,983 Income from continuing operations before income taxes $ 36,362 $ 40,153 $ 41,676 $ 7,414 $ (33,420 ) $ 92,185
Assets from Segment	As of June 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,056,570 $ 788,819 $ 1,436,146 $ — $ — $ 3,281,535 Investments in unconsolidated entities 25,233 28,779 92,617 3,215 — 149,844 Other assets 76,104 149,206 50,463 164,064 359,872 799,709 Total assets $ 1,157,907 $ 966,804 $ 1,579,226 $ 167,279 $ 359,872 $ 4,231,088 As of December 31, 2015 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 927,359 $ 757,863 $ 1,475,678 $ — $ — $ 3,160,900 Investments in unconsolidated entities 24,098 28,832 72,646 2,872 — 128,448 Other assets 52,817 164,192 74,379 237,430 299,228 828,046 Total assets $ 1,004,274 $ 950,887 $ 1,622,703 $ 240,302 $ 299,228 $ 4,117,394

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Apr. 09, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized Debt Issuance Costs	$ 17,963,000		$ 17,963,000		$ 19,896,000
Common stock exchange agreement			One share of Class B Common Stock, together with one New TMM Unit, is exchangeable into one share of our Class A Common Stock in accordance with the 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
Impairment of real estate inventory	0	$ 0	$ 0	$ 0
Equity method investment impairment charges	$ 0	$ 0	$ 0	$ 0
Effect on prior period amounts related to adopting Accounting Standards Update 2015-03 [Member] | Respective debt liability [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized Debt Issuance Costs					19,900,000
Effect on prior period amounts related to adopting Accounting Standards Update 2015-03 [Member] | Prepaid expenses and other assets, net [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized Debt Issuance Costs					$ (19,900,000)

Business Combinations - Summary

Business Combinations - Summary of Fair Value of Assets Acquired and Liabilities Created (Detail) (Details) $ in Thousands	Jan. 08, 2016USD ($)	Jul. 21, 2015USD ($)division	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Apr. 30, 2015USD ($)
Assets Acquired
Goodwill			$ 66,198	$ 57,698
East [Member]
Assets Acquired
Goodwill				27,800
West [Member]
Assets Acquired
Goodwill				6,500
Acadia Homes [Member]
Business Acquisition [Line Items]
Purchase price	$ 83,600
Seller financing and holdbacks, and contingent consideration included in purchase price	19,700
Assets Acquired
Real estate inventory	76,152
Land deposits	984
Prepaid expenses and other assets	816
Property and equipment	204
Goodwill	8,500
Total assets	86,656
Less Liabilities Assumed
Accrued expenses and other liabilities	2,562
Customer deposits	463
Net assets acquired	$ 83,631
JEH Homes [Member]
Assets Acquired
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
Net assets acquired					$ 66,380
Orleans Homes [Member]
Business Acquisition [Line Items]
Number of divisions acquired (in division) | division		3
Assets Acquired
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
Net assets acquired		$ 167,314
Total Prior Year Acquisitions [Member]
Assets Acquired
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
Net assets acquired				$ 233,694

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income available to TMHC - basic	$ 11,685	$ 5,077	$ 18,498	$ 31,039
Income from discontinued operations, net of tax	0	0	0	56,662
Income from discontinued operations, net of tax attributable to non-controlling interest – Principal Equityholders	0	0	0	(41,381)
Net income from discontinued operations – basic	0	0	0	15,281
Net income from continuing operations - basic	11,685	5,077	18,498	15,758
Net income from continuing operations - basic	11,685	5,077	18,498	15,758
Net income from continuing operations attributable to non-controlling interest – Principal Equityholders	33,683	14,024	52,790	43,157
Loss fully attributable to public holding company	100	110	173	229
Net income from continuing operations – diluted	45,468	19,211	71,461	59,144
Net income from discontinued operations - diluted	$ 0	$ 0	$ 0	$ 56,662
Denominator:
Weighted average shares - basic (Class A) (in shares)	31,574	33,076	31,742	33,071
Weighted average shares - Principal Equityholders' non-controlling interest (Class B) (in shares)	89,107	89,200	89,107	89,203
Restricted stock units (in shares)	366	133	367	108
Stock Options (in shares)	5	0	1	0
Weighted average shares - diluted (in shares)	121,052	122,409	121,217	122,382
Earnings per common share - basic:
Income from continuing operations (usd per share)	$ 0.37	$ 0.15	$ 0.58	$ 0.48
Income from discontinued operations, nets of tax (usd per share)	0	0	0	0.46
Net income available to Taylor Morrison Home Corporation (usd per share)	0.37	0.15	0.58	0.94
Earnings per common share - diluted:
Income from continuing operations (usd per share)	0.37	0.15	0.58	0.48
Income from discontinued operations, net of tax (usd per share)	0	0	0	0.46
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.37	$ 0.15	$ 0.58	$ 0.94

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
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	1,602,935	2,361,178	1,580,186	1,546,380

Derivative Financial Instrume43

Derivative Financial Instrument - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivatives, Fair Value [Line Items]
Gain on foreign currency forward	$ 0	$ 0	$ 0	$ 29,983
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Derivative financial instrument final settlement date				Jan. 30, 2015
Gain on foreign currency forward				$ 30,000

Real Estate Inventory and Lan44

Real Estate Inventory and Land Deposits - Additional Information (Detail) $ in Millions	Jun. 30, 2016USD ($)Lot	Dec. 31, 2015USD ($)Lot
Real Estate [Abstract]
Right to purchase lots of land option (in lot) | Lot	9,196	8,888
Aggregate purchase price	$ 753.7	$ 710.6
Non-refundable option deposits	$ 38.6	$ 34.1

Real Estate Inventory and Lan45

Real Estate Inventory and Land Deposits - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Real Estate [Abstract]
Real estate developed and under development	$ 2,184,842		$ 2,167,771
Real estate held for development or held for sale	187,869		173,448
Operating communities	758,534		672,499
Capitalized interest	111,063	$ 110,962	105,148	$ 106,470	$ 103,892	$ 94,880
Total owned inventory	3,242,308		3,118,866
Real estate not owned under option contracts	612		7,921
Total real estate inventory	$ 3,242,920		$ 3,126,787

Real Estate Inventory and Lan46

Real Estate Inventory and Land Deposits - Schedule of Development Status of Land Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Book Value of Land and Development [Member]
Inventory [Line Items]
Raw	$ 349,391	$ 378,081
Partially developed	490,327	645,276
Finished	1,520,755	1,305,697
Long-term strategic assets	12,238	12,165
Total	2,372,711	2,341,219
Owned Lots [Member]
Inventory [Line Items]
Raw	7,042	8,300
Partially developed	7,942	8,904
Finished	13,478	12,294
Long-term strategic assets	3,105	3,105
Total	$ 31,567	$ 32,603

Real Estate Inventory and Lan47

Real Estate Inventory and Land Deposits - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized - beginning of period	$ 110,962	$ 103,892	$ 105,148	$ 94,880
Interest incurred	22,201	23,268	44,445	48,307
Interest amortized to cost of home closings	(22,100)	(20,690)	(38,530)	(36,717)
Interest capitalized - end of period	$ 111,063	$ 106,470	$ 111,063	$ 106,470

Investments in Unconsolidated48

Investments in Unconsolidated Entities - Additional Information (Detail)	Jun. 30, 2016
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Related and unrelated third parties ownership interests	50.00%

Investments in Unconsolidated49

Investments in Unconsolidated Entities - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets:
Other assets	$ 799,709	$ 828,046
Liabilities and owners' equity:
Debt	1,723,380	1,663,372
Equity Method Investments [Member]
Assets:
Real estate inventory	612,478	586,359
Other assets	170,713	119,781
Total assets	783,191	706,140
Liabilities and owners' equity:
Debt	283,845	273,769
Other liabilities	28,544	11,239
Total liabilities	312,389	285,008
Owners' equity:
TMHC	149,844	128,448
Others	320,958	292,684
Total owners' equity	470,802	421,132
Total liabilities and owners' equity	$ 783,191	$ 706,140

Investments in Unconsolidated50

Investments in Unconsolidated Entities - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Equity Method Investments [Line Items]
TMHC’s share in income of unconsolidated entities	$ 2,305	$ 1,225	$ 3,087	$ 1,527
Distributions of earnings from unconsolidated entities			3,329
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	37,042	15,777	49,662	17,473
Costs and expenses	(30,110)	(12,859)	(40,220)	(14,030)
Income of unconsolidated entities	6,932	2,918	9,442	3,443
TMHC’s share in income of unconsolidated entities	2,305	1,225	$ 3,087	1,527
Distributions of earnings from unconsolidated entities	$ 3,218	$ 7,787		$ 8,294

Accrued Expenses and Other Li51

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 13,126		$ 21,325
Compensation and employee benefits	42,541		47,674
Self-insurance and warranty reserves	44,342	$ 43,195	43,098	$ 42,589	$ 42,956	$ 44,595
Interest payable	17,975		18,621
Property and sales taxes payable	9,776		15,233
Other accruals	47,524		45,501
Total accrued expenses and other liabilities	$ 175,284		$ 191,452

Accrued Expenses and Other Li52

Accrued Expenses and Other Liabilities - Summary of Changes in Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Payables and Accruals [Abstract]
Standard product warranty term (in years)			1 year
Changes in Warranty Reserves
Reserve - beginning of period	$ 43,195	$ 42,956	$ 43,098	$ 44,595
Additions to reserves	5,015	4,814	10,783	7,514
Costs and claims incurred	(5,962)	(5,516)	(12,547)	(11,450)
Change in estimates to pre-existing reserves	2,094	335	3,008	1,930
Reserve - end of period	$ 44,342	$ 42,589	$ 44,342	$ 42,589

Debt - Senior Notes and Other B

Debt - Senior Notes and Other Borrowings (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Mar. 05, 2014	Apr. 16, 2013
Debt Instrument [Line Items]
Principal	$ 1,741,343	$ 1,683,268
Unamortized Debt Issuance Costs	17,963	19,896
Carrying Value	1,723,380	1,663,372
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal	215,000	115,000
Unamortized Debt Issuance Costs	4,295	5,053
Carrying Value	210,705	109,947
Senior Notes [Member]
Debt Instrument [Line Items]
Principal	1,250,000	1,250,000
Unamortized Debt Issuance Costs	13,668	14,843
Carrying Value	$ 1,236,332	$ 1,235,157
5.25% Senior Notes due 2021 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)	5.25%	5.25%
5.25% Senior Notes due 2021 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 550,000	$ 550,000
Unamortized Debt Issuance Costs	5,688	6,287
Carrying Value	$ 544,312	$ 543,713
Stated interest rate of senior notes (as a percent)	5.25%			5.25%
5.875% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)	5.875%	5.875%
5.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 350,000	$ 350,000
Unamortized Debt Issuance Costs	3,853	4,160
Carrying Value	$ 346,147	$ 345,840
Stated interest rate of senior notes (as a percent)	5.875%
5.625% Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)	5.625%	5.625%
5.625% Senior Notes due 2024 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal	$ 350,000	$ 350,000
Unamortized Debt Issuance Costs	4,127	4,396
Carrying Value	$ 345,873	345,604
Stated interest rate of senior notes (as a percent)	5.625%		5.625%
Loans Payable and Other Borrowings [Member]
Debt Instrument [Line Items]
Principal	$ 158,244	134,824
Unamortized Debt Issuance Costs	0	0
Carrying Value	158,244	134,824
Mortgage Warehouse Borrowings [Member]
Debt Instrument [Line Items]
Principal	118,099	183,444
Unamortized Debt Issuance Costs	0	0
Carrying Value	$ 118,099	$ 183,444

Debt - 2021 Senior Notes - Addi

Debt - 2021 Senior Notes - Additional Information (Detail) - 5.25% Senior Notes due 2021 [Member] - USD ($)	Apr. 16, 2013	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)		5.25%	5.25%
Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes issued amount	$ 550,000,000
Stated interest rate of senior notes (as a percent)	5.25%	5.25%
Redemption price (as a percent)	101.00%
Senior Notes, maturity date		Apr. 15, 2021

Debt - 2023 Senior Notes and Re

Debt - 2023 Senior Notes and Redemption of 2020 Senior Notes - Additional Information (Detail) - USD ($)	Apr. 16, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	May 01, 2015
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 33,317,000	$ 0	$ 33,317,000
5.875% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)		5.875%		5.875%		5.875%
5.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)		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 (as a percent)	5.875%
Loss on extinguishment of debt			$ 33,300,000
Senior Notes, maturity date				Apr. 15, 2023
Redemption price (as a percent)	100.00%
7.75% Senior Notes due 2020 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)							7.75%
7.75% Senior Notes due 2020 [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
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 ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Mar. 05, 2014
Debt Instrument [Line Items]
Stated interest rate of senior notes (as a percent)	5.625%	5.625%
Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes issued amount			$ 350,000,000
Stated interest rate of senior notes (as a percent)	5.625%		5.625%
Senior Notes, maturity date	Mar. 1, 2024
Redemption price (as a percent)	100.00%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016USD ($)fiscal_quarter	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Maximum capitalization ratio	60.00%
Minimum consolidated tangible net worth requirement	$ 1,500,000,000
Revolving credit facility	210,705,000	$ 109,947,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	500,000,000
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
Maximum consecutive days for financial covenant	5 days
Number of consecutive fiscal quarters in which equity cure right can be used twice (in fiscal quarter) | fiscal_quarter	4
Maximum number of times equity cure right can be exercised	5

Debt - Summary of Mortgage Ware

Debt - Summary of Mortgage Warehouse Borrowings (Detail) - USD ($)	3 Months Ended	6 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Sep. 28, 2015	Dec. 31, 2015
Line of Credit Facility [Line Items]
Amount Drawn	$ 183,444,000	$ 118,099,000			$ 183,444,000
Secured Debt [Member]
Line of Credit Facility [Line Items]
Amount Drawn	183,444,000	118,099,000			183,444,000
Facility Amount	245,000,000	180,000,000			245,000,000
Mortgage borrowings outstanding, collateralized amount	201,700,000	146,000,000			201,700,000
Collateralized amount of restricted short-term investments	1,300,000	1,300,000			1,300,000
Secured Debt [Member] | Flagstar [Member]
Line of Credit Facility [Line Items]
Amount Drawn	63,210,000	28,453,000			63,210,000
Facility Amount	75,000,000	$ 30,000,000			$ 75,000,000
Expiration date		30 days written notice	30 days written notice
Expiration Date (in days)		30 days			30 days
Collateral		Mortgage Loans	Mortgage Loans
Secured Debt [Member] | Comerica [Member]
Line of Credit Facility [Line Items]
Amount Drawn	18,009,000	$ 33,161,000			$ 18,009,000
Facility Amount	50,000,000	$ 50,000,000			50,000,000
Expiration Date		Nov. 16, 2016	Nov. 16, 2016
Collateral		Mortgage Loans	Mortgage Loans
Secured Debt [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Amount Drawn	102,225,000	$ 56,485,000			102,225,000
Facility Amount	$ 120,000,000	$ 100,000,000			$ 120,000,000
Expiration Date		Sep. 26, 2016	Sep. 26, 2016
Collateral		Mortgage Loans and Pledged Cash	Mortgage Loans and Pledged Cash
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Flagstar [Member]
Line of Credit Facility [Line Items]
Interest rate, spread on variable rate		2.50%			2.50%
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Comerica [Member]
Line of Credit Facility [Line Items]
Interest rate, spread on variable rate		2.25%			2.25%
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | J.P. Morgan [Member]
Line of Credit Facility [Line Items]
Interest rate, spread on variable rate		2.375%
Minimum rate for LIBOR				0.25%
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | J.P. Morgan [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Interest rate, spread on variable rate	2.375%			2.50%
Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | J.P. Morgan [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Interest rate, spread on variable rate				2.875%

Debt - Loans Payable and Other

Debt - Loans Payable and Other Borrowings - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Carrying Value	$ 1,723,380	$ 1,663,372
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	5.10%
Carrying Value	$ 107,500
Non-Interest Bearing [Member]
Debt Instrument [Line Items]
Carrying Value	$ 50,700

Fair Value Disclosures - Carryi

Fair Value Disclosures - Carrying Value and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale, carrying value	$ 145,963	$ 201,733
Mortgage warehouse borrowings	118,099	183,444
Carrying Value	1,723,380	1,663,372
Loans payable and other borrowings	158,244	134,824
Revolving Credit Facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	210,705	109,947
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	210,705	109,947
Estimated Fair Value	215,000	115,000
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]
Estimated Fair Value	158,244	134,824
Loans payable and other borrowings	158,244	134,824
Significant Other Observable Inputs (Level 3) [Member] | Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	15,711	20,082
Significant Other Observable Inputs (Level 3) [Member] | Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	15,711	20,082
Mortgage Warehouse Borrowings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	118,099	183,444
Mortgage Warehouse Borrowings [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage warehouse borrowings	118,099	183,444
Estimated Fair Value	118,099	183,444
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	544,312	543,713
Estimated Fair Value	548,625	552,750
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	346,147	345,840
Estimated Fair Value	349,125	346,500
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	345,873	345,604
Estimated Fair Value	341,250	336,000
Mortgage Loans Held for Sale [Member] | 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	145,963	201,733
Mortgage loans held for sale, estimated fair value	$ 145,963	$ 201,733

Fair Value Disclosures - Carr61

Fair Value Disclosures - Carrying Value and Fair Value of Financial Instruments - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
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 (as a percent)	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 (as a percent)	5.875%	5.875%
Maturity of senior notes, year	2,023	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 (as a percent)	5.625%	5.625%
Maturity of senior notes, year	2,024	2,024

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Income Tax [Line Items]
Unrecognized tax benefits expected to reverse	$ 0	$ 0
Domestic [Member]
Income Tax [Line Items]
Gross cumulative unrecognized tax benefits	$ 7,300,000	$ 7,000,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)shares	Jun. 30, 2016USD ($)vote / sharesshares	Dec. 31, 2015USD ($)shares	Nov. 03, 2014USD ($)
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.
Repurchase of common stock		$ 24,710,000
Common Class A [Member]
Class of Stock [Line Items]
Voting rights per share | vote / shares		1
Authorized amount for Stock Repurchase Program				$ 50,000,000
Common Class B [Member]
Class of Stock [Line Items]
Voting rights per share | vote / shares		1
Common Stock [Member] | Common Class A [Member]
Class of Stock [Line Items]
Repurchase of common stock (in shares) | shares	1,333,873	1,671,633	934,434
Repurchase of common stock	$ 19,700,000	$ 24,700,000	$ 15,000,000

Stockholders' Equity - Componen

Stockholders' Equity - Components and Voting Power of Outstanding Common Stock (Detail) - shares	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Common Stock Outstanding (in shares)	119,672,870
Percentage	100.00%
Common Class A [Member]
Class of Stock [Line Items]
Common Stock Outstanding (in shares)	30,566,122	32,224,421
Percentage	25.50%
Common Class B [Member]
Class of Stock [Line Items]
Common Stock Outstanding (in shares)	89,106,748	89,108,569
Percentage	74.50%

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Apr. 09, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation	$ 25,700,000		$ 15,200,000
Number of shares issued for each share of Class B Common Stock and TMM Unit converted (in shares)				1
Class M Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment for settlement of awards	$ 0	$ 1,400,000
Non Performance Restricted Stock Units [Member] | Second Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.00%
Non Performance Restricted Stock Units [Member] | Third Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.00%
Non Performance Restricted Stock Units [Member] | Fourth Anniversary [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.00%
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)	10 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
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)	3,852,036

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 3,197	$ 2,039	$ 5,917	$ 5,136
Income tax expense recognized	(20)	(3)	(22)	(7)
Monarch [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation				1,500
New TMM Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	381	393	761	912
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	1,061	828	2,018	2,798
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 1,755	$ 818	$ 3,138	$ 1,426

Stock Based Compensation - Su67

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]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Shares
Number of Awards, Beginning balance (in shares) | shares	441,296
Number of Awards, Granted (in shares) | shares	1,083,345
Number of Awards, Vested (in shares) | shares	(13,334)
Number of Awards, Forfeited (in shares) | shares	(36,824)
Number of Awards, Ending balance (in shares) | shares	1,474,483
Weighted Average Grant Date Fair Value
Weighted Average Grand Date Fair Value, Outstanding, Beginning balance (usd per share) | $ / shares	$ 13.55
Weighted Average Grand Date Fair Value, Granted (usd per share) | $ / shares	11.37
Weighted Average Grand Date Fair Value, Vested (usd per share) | $ / shares	19.50
Weighted Average Grand Date Fair Value, Forfeited (usd per share) | $ / shares	13.38
Weighted Average Grand Date Fair Value, Outstanding, Ending balance (usd per share) | $ / shares	$ 13.38

Stock Based Compensation - Su68

Stock Based Compensation - Summary of Stock Option Plan (Detail)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Shares
Number of Shares, Outstanding, Beginning balance (in shares) | shares	1,507,765
Number of Shares, Granted (in shares) | shares	1,133,642
Number of shares, Cancelled/Forfeited (in shares) | shares	(37,790)
Number of Shares, Outstanding, Ending balance (in shares) | shares	2,603,617
Number of Shares, Options exercisable (in shares) | shares	623,133
Weighted Average Exercise Price Per Share
Weighted Average Exercise Price Per Share, Outstanding, Beginning balance (usd per share) | $ / shares	$ 21.07
Weighted Average Exercise Price Per Share, Granted (usd per share) | $ / shares	11.54
Weighted Average Exercise Price Per Share, Cancelled/Forfeited (usd per share) | $ / shares	13.58
Weighted Average Exercise Price Per Share, Outstanding, Ending balance (usd per share) | $ / shares	17.03
Weighted Average Exercise Price Per Share, options exercisable (usd per share) | $ / shares	$ 21.52

Stock Based Compensation - Su69

Stock Based Compensation - Summary of Stock Option Activity (Detail) - Class B Common Stock/New TMM Units [Member]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Shares/New TMM Units
Number of Shares/Units, Beginning balance (in shares) | shares	1,312,874
Number of Shares/Units, Forfeited (in shares) | shares	(1,821)
Number of Shares/Units, Ending balance (in shares) | shares	1,311,053
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning balance (usd per share) | $ / shares	$ 5.45
Weighted Average Grant Date Fair Value, Forfeited (usd per share) | $ / shares	10.20
Weighted Average Grant Date Fair Value, Ending balance (usd per share) | $ / shares	$ 5.83

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Affiliates [Member]
Related Party Transaction [Line Items]
Real estate inventory acquisitions from affiliates	$ 16,800,000	$ 16,800,000

Accumulated Other Comprehensi71

Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			$ 1,972,677
Other comprehensive loss before reclassifications		$ 199	(447)	$ (26,945)
Gross amounts reclassified from accumulated other comprehensive income				1,488
Foreign currency translation				0
Other comprehensive income (loss), net of tax	$ 0	199	(447)	(25,457)
Gross amounts reclassified within accumulated other comprehensive income		195	(329)	18,521
Balance	2,025,291		2,025,291
Total Post-Retirement Benefits Adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance		678	2,305	692
Other comprehensive loss before reclassifications		0	(447)	269
Gross amounts reclassified from accumulated other comprehensive income				1,488
Foreign currency translation				518
Other comprehensive income (loss), net of tax		0	(447)	2,275
Gross amounts reclassified within accumulated other comprehensive income		0	0	(2,289)
Balance	1,858	678	1,858	678
Foreign Currency Translation Adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance		(79,561)	(79,927)	(52,148)
Other comprehensive loss before reclassifications		199	0	(27,214)
Gross amounts reclassified from accumulated other comprehensive income				0
Other comprehensive income (loss), net of tax		199	0	(27,214)
Gross amounts reclassified within accumulated other comprehensive income		0	0	0
Balance	(79,927)	(79,362)	(79,927)	(79,362)
Non-controlling Interest - Principal Equityholders Reclassification [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance		61,033	59,625	40,546
Other comprehensive loss before reclassifications		0	0	0
Gross amounts reclassified from accumulated other comprehensive income				0
Foreign currency translation				(518)
Other comprehensive income (loss), net of tax		0	0	(518)
Gross amounts reclassified within accumulated other comprehensive income		(195)	329	20,810
Balance	59,954	60,838	59,954	60,838
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance		(17,850)	(17,997)	(10,910)
Other comprehensive income (loss), net of tax			(118)
Balance	$ (18,115)	$ (17,846)	$ (18,115)	$ (17,846)

Operating and Reporting Segme72

Operating and Reporting Segments - Segment Information Excluding Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	$ 854,316	$ 700,973	$ 1,499,645	$ 1,210,389
Gross margin	159,752	136,659	278,393	231,242
Selling, general and administrative expenses	(90,892)	(71,226)	(168,157)	(128,150)
Equity in income/(loss) of unconsolidated entities	2,305	1,225	3,087	1,527
Interest and other (expense) income, net	(3,397)	(3,381)	(6,564)	(9,100)
Loss on extinguishment of debt	0	(33,317)	0	(33,317)
Gain on foreign currency forward	0	0	0	29,983
Income from continuing operations before income taxes	67,768	29,960	106,759	92,185
Operating Segments [Member] | East [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	255,806	181,847	433,528	299,811
Gross margin	52,828	39,844	90,658	66,353
Selling, general and administrative expenses	(25,813)	(16,499)	(46,618)	(29,206)
Equity in income/(loss) of unconsolidated entities	308	241	307	240
Interest and other (expense) income, net	(777)	(745)	(1,955)	(1,025)
Loss on extinguishment of debt		0		0
Gain on foreign currency forward				0
Income from continuing operations before income taxes	26,546	22,841	42,392	36,362
Operating Segments [Member] | Central [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	242,010	263,284	442,511	451,075
Gross margin	43,830	51,233	81,296	86,188
Selling, general and administrative expenses	(23,159)	(21,954)	(42,767)	(39,627)
Equity in income/(loss) of unconsolidated entities	(164)	471	(221)	615
Interest and other (expense) income, net	(394)	(3,595)	(2,060)	(7,023)
Loss on extinguishment of debt		0		0
Gain on foreign currency forward				0
Income from continuing operations before income taxes	20,113	26,155	36,248	40,153
Operating Segments [Member] | West [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	343,002	245,999	600,470	442,025
Gross margin	57,789	41,835	98,020	72,381
Selling, general and administrative expenses	(22,828)	(17,193)	(42,429)	(30,812)
Equity in income/(loss) of unconsolidated entities	740	(242)	985	(422)
Interest and other (expense) income, net	(1,131)	813	(949)	529
Loss on extinguishment of debt		0		0
Gain on foreign currency forward				0
Income from continuing operations before income taxes	34,570	25,213	55,627	41,676
Operating Segments [Member] | Mortgage Operations [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	13,498	9,843	23,136	17,478
Gross margin	5,305	3,747	8,419	6,320
Selling, general and administrative expenses	0	0	0	0
Equity in income/(loss) of unconsolidated entities	1,421	755	2,016	1,094
Interest and other (expense) income, net	10	0	10	0
Loss on extinguishment of debt		0		0
Gain on foreign currency forward				0
Income from continuing operations before income taxes	6,736	4,502	10,445	7,414
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	(19,092)	(15,580)	(36,343)	(28,505)
Equity in income/(loss) of unconsolidated entities	0	0	0	0
Interest and other (expense) income, net	(1,105)	146	(1,610)	(1,581)
Loss on extinguishment of debt		(33,317)		(33,317)
Gain on foreign currency forward				29,983
Income from continuing operations before income taxes	$ (20,197)	$ (48,751)	$ (37,953)	$ (33,420)

Operating and Reporting Segme73

Operating and Reporting Segments - Assets from Segment (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 3,281,535	$ 3,160,900
Investments in unconsolidated entities	149,844	128,448
Other assets	799,709	828,046
Total assets	4,231,088	4,117,394
Operating Segments [Member] | East [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,056,570	927,359
Investments in unconsolidated entities	25,233	24,098
Other assets	76,104	52,817
Total assets	1,157,907	1,004,274
Operating Segments [Member] | Central [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	788,819	757,863
Investments in unconsolidated entities	28,779	28,832
Other assets	149,206	164,192
Total assets	966,804	950,887
Operating Segments [Member] | West [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,436,146	1,475,678
Investments in unconsolidated entities	92,617	72,646
Other assets	50,463	74,379
Total assets	1,579,226	1,622,703
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	3,215	2,872
Other assets	164,064	237,430
Total assets	167,279	240,302
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	359,872	299,228
Total assets	$ 359,872	$ 299,228

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds	$ 404.6	$ 394.8
Legal accruals	$ 1.9	$ 0.8