Taylor Morrison Home (TMHC) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	TMHC
Entity Registrant Name	Taylor Morrison Home Corp
Entity Central Index Key	1,562,476
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		72,364,924
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		47,193,672

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 264,862	$ 300,179
Restricted cash	1,315	1,633
Total cash, cash equivalents, and restricted cash	266,177	301,812
Owned inventory	3,240,664	3,010,967
Real estate not owned under option agreements	3,107	6,252
Total real estate inventory	3,243,771	3,017,219
Land deposits	50,879	37,233
Mortgage loans held for sale	107,665	233,184
Derivative assets	2,037	2,291
Prepaid expenses and other assets, net	72,546	73,425
Other receivables, net	98,948	115,246
Investments in unconsolidated entities	184,817	157,909
Deferred tax assets, net	215,666	206,634
Property and equipment, net	6,229	6,586
Intangible assets, net	2,395	3,189
Goodwill	66,198	66,198
Total assets	4,317,328	4,220,926
Liabilities
Accounts payable	146,263	136,636
Accrued expenses and other liabilities	190,384	209,202
Income taxes payable	15,019	10,528
Customer deposits	185,604	111,573
Senior notes, net	1,239,211	1,237,484
Loans payable and other borrowings	161,798	150,485
Revolving credit facility borrowings	0	0
Mortgage warehouse borrowings	61,292	198,564
Liabilities attributable to real estate not owned under option agreements	3,107	6,252
Total liabilities	2,002,678	2,060,724
COMMITMENTS AND CONTINGENCIES (Note 16)
Stockholders’ Equity
Preferred stock, $0.00001 par value, 50,000,000 shares authorized, no shares issued and outstanding as of September 30, 2017 and December 31, 2016	0	0
Additional paid-in capital	1,142,210	384,709
Treasury stock at cost; 3,049,257 and 2,853,433 shares as of September 30, 2017 and December 31, 2016, respectively	(47,622)	(43,524)
Retained earnings	297,402	228,613
Accumulated other comprehensive loss	(17,989)	(17,989)
Total stockholders’ equity attributable to Taylor Morrison Home Corporation	1,374,002	551,810
Non-controlling interests – joint ventures	1,858	1,525
Non-controlling interests – Principal Equityholders	938,790	1,606,867
Total stockholders’ equity	2,314,650	2,160,202
Total liabilities and stockholders’ equity	4,317,328	4,220,926
Class A Common Stock
Stockholders’ Equity
Common stock	1	0
Class B Common Stock
Stockholders’ Equity
Common stock	$ 0	$ 1

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred stock, par value (usd per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares outstanding (in shares)	119,556,426
Treasury stock, shares held (in shares)	3,049,257	2,853,433
Class A Common Stock
Common stock, par value (usd per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	75,356,556	33,340,291
Common stock, shares outstanding (in shares)	72,307,299	30,486,858
Class B Common Stock
Common stock, par value (usd per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	47,249,127	88,942,052
Common stock, shares outstanding (in shares)	47,249,127	88,942,052

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Home closings revenue, net	$ 886,249	$ 812,185	$ 2,526,830	$ 2,271,154
Land closings revenue	4,299	27,418	11,419	44,957
Mortgage operations revenue	17,479	13,814	47,362	36,951
Total revenues	908,027	853,417	2,585,611	2,353,062
Cost of home closings	721,637	658,507	2,062,437	1,852,724
Cost of land closings	3,002	8,179	7,869	20,497
Mortgage operations expenses	12,070	7,877	30,874	22,594
Total cost of revenues	736,709	674,563	2,101,180	1,895,815
Gross margin	171,318	178,854	484,431	457,247
Sales, commissions and other marketing costs	61,476	58,277	178,609	165,300
General and administrative expenses	33,374	29,944	100,396	91,078
Equity in income of unconsolidated entities	(2,787)	(1,646)	(6,943)	(4,734)
Interest income, net	(135)	(47)	(314)	(149)
Other expense, net	415	1,935	828	8,602
Income/(loss) before income taxes	78,975	90,391	211,855	197,150
Income tax provision	24,282	31,707	65,631	66,698
Net income before allocation to non-controlling interests	54,693	58,684	146,224	130,452
Net income attributable to non-controlling interests — joint ventures	(427)	(376)	(625)	(856)
Net income before non-controlling interests — Principal Equityholders	54,266	58,308	145,599	129,596
Net income attributable to non-controlling interests — Principal Equityholders	(21,390)	(43,471)	(76,810)	(96,261)
Net income available to Taylor Morrison Home Corporation	$ 32,876	$ 14,837	$ 68,789	$ 33,335
Earnings per common share
Basic (usd per share)	$ 0.45	$ 0.49	$ 1.21	$ 1.07
Diluted (usd per share)	$ 0.45	$ 0.49	$ 1.21	$ 1.07
Weighted average number of shares of common stock:
Basic (in shares)	72,471	30,427	56,791	31,300
Diluted (in shares)	121,183	120,103	120,991	120,870

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income before non-controlling interests, net of tax	$ 54,693	$ 58,684	$ 146,224	$ 130,452
Other comprehensive loss, net of tax:
Post-retirement benefits adjustments, net of tax	0	0	0	(447)
Other comprehensive loss, net of tax	0	0	0	(447)
Comprehensive income	54,693	58,684	146,224	130,005
Comprehensive income available to Taylor Morrison Home Corporation	32,876	14,837	68,789	33,217
Joint Ventures
Other comprehensive loss, net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	(427)	(376)	(625)	(856)
Principal Equityholders
Other comprehensive loss, net of tax:
Comprehensive (income) loss attributable to non-controlling interests - joint ventures/Principal Equityholders	$ (21,390)	$ (43,471)	$ (76,810)	$ (95,932)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling InterestJoint Ventures	Non-controlling InterestPrincipal Equityholders
Balance, beginning of period at Dec. 31, 2015								$ (17,997)
Increase (Decrease) in Stockholders' Equity
Net income	$ 130,452
Repurchase of common stock		$ (28,500)
Repurchase of common stock, shares		(1,918,999)
Balance, end of period at Sep. 30, 2016								(18,115)
Balance, beginning of period at Dec. 31, 2016	2,160,202		$ 0	$ 1	$ 384,709	$ (43,524)	$ 228,613	(17,989)	$ 1,525	$ 1,606,867
Balance, beginning of period, shares at Dec. 31, 2016			30,486,858	88,942,052		2,853,433
Increase (Decrease) in Stockholders' Equity
Net income	146,224						68,789		625	76,810
Exchange of New TMM Units and corresponding number of Class B Common Stock, shares			191,333	(191,333)
Cancellation of forfeited New TMM Units and corresponding number of Class B Common Stock, shares				(1,592)
Exercise of stock options	4,791				4,791
Exercise of stock options, shares			265,167
Issuance of restricted stock units, net of shares withheld for tax	(307)				(307)
Issuance of restricted stock units, net of shares withheld for tax, shares			59,765
Repurchase of common stock	(4,098)	$ (4,100)				$ (4,098)
Repurchase of common stock, shares		(195,824)	(195,824)			(195,824)
Exchange of (repurchase) of B shares from secondary offerings	748,097		$ 1		748,096
Exchange of (repurchase) of B shares from secondary offerings, shares			41,500,000
Repurchase of New TMM Units from principal equityholders	(750,194)			$ (1)						(750,193)
Repurchase of New TMM Units from principal equityholders. shares				(41,500,000)
Share based compensation	10,227				4,921					5,306
Changes in non-controlling interests of consolidated joint ventures	(292)								(292)
Balance, end of period at Sep. 30, 2017	$ 2,314,650		$ 1	$ 0	$ 1,142,210	$ (47,622)	$ 297,402	$ (17,989)	$ 1,858	$ 938,790
Balance, end of period, shares at Sep. 30, 2017			72,307,299	47,249,127		3,049,257

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before allocation to non-controlling interests	$ 146,224	$ 130,452
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of unconsolidated entities	(6,943)	(4,734)
Stock compensation expense	10,227	8,959
Distributions of earnings from unconsolidated entities	4,666	2,538
Depreciation and amortization	2,994	3,000
Debt issuance costs amortization	2,864	2,888
Contingent consideration	766	3,520
Deferred income taxes	(9,032)	(969)
Changes in operating assets and liabilities:
Real estate inventory and land deposits	(243,343)	(103,758)
Mortgages held for sale, prepaid expenses and other assets	141,813	76,281
Customer deposits	74,031	44,780
Accounts payable, accrued expenses and other liabilities	4,017	(9,415)
Income taxes payable	4,491	(11,119)
Net cash provided by operating activities	132,775	142,423
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(1,843)	(934)
Payments for business acquisitions	0	(52,819)
Distributions of capital from unconsolidated entities	4,223	3,546
Investments of capital into unconsolidated entities	(28,854)	(24,509)
Net cash (used in) investing activities	(26,474)	(74,716)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in loans payable and other borrowings	8,644	55,720
Repayments of loans payable and other borrowings	(11,305)	(65,075)
Borrowings on revolving credit facility	0	255,000
Payments on revolving credit facility	0	(155,000)
Borrowings on mortgage warehouse	567,922	782,001
Repayment on mortgage warehouse	(705,194)	(874,279)
Payment of contingent consideration	0	(3,100)
Proceeds from stock option exercises	4,791	0
Proceeds from issuance of shares from secondary offerings	882,306	0
Repurchase of shares from principal equity holders	(884,403)	0
Repurchase of common stock, net	(4,098)	(28,543)
Payment of taxes related to net share settlement of equity awards	(307)	0
Distributions to non-controlling interests of consolidated joint ventures, net	(292)	(60)
Net cash (used in) financing activities	(141,936)	(33,336)
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(35,635)	34,371
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	301,812	127,468
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period	266,177	161,839
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net	(70,172)	(78,786)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Change in loans payable issued to sellers in connection with land purchase contracts	55,151	55,720
Change in inventory not owned	(3,145)	(7,309)
Original accrual of contingent consideration for business combinations	$ 0	$ 380

BUSINESS

BUSINESS	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Organization and Description of the Business - Taylor Morrison Home Corporation (referred to herein as “TMHC,” “we,” “our,” “the Company” and “us”), through its divisions and segments, owns and operates a residential homebuilding business and is a developer of lifestyle communities. As of September 30, 2017 , we operated 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 company operates under our Taylor Morrison and Darling Homes brand names. Our business is organized into multiple homebuilding operating components, and a mortgage operating component, all of which are managed as four reportable segments: East, Central, West, and Mortgage Operations. The communities in our homebuilding segments 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 financial services to customers through our wholly owned mortgage subsidiary, operating as Taylor Morrison Home Funding, LLC (“TMHF”), and title services through our wholly owned title services subsidiary, Inspired Title Services, LLC (“Inspired Title”). During the quarter ended March 31, 2017, we realigned our homebuilding operating divisions within our existing segments based on geographic location and management's long term strategic plans. As a result, all historical periods presented in the segment information have been reclassified to give effect to this segment realignment.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
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 2016 Annual Report on Form 10-K (the “Annual Report”). In the opinion of management, the accompanying Unaudited 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. 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 sole owner of 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 of investors 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 members of the Board of Directors. Refer to Note 11- Stockholders' Equity for discussion regarding our equity offering transactions during the nine months ended September 30, 2017 . Reclassifications - Prior period amounts for cash, cash equivalents, and restricted cash on the Condensed Consolidated Statements of Cash Flows have been reclassified to conform with current period financial statement presentation as a result of adopting Accounting Standards Update ("ASU") 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. 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. During the nine months ended September 30, 2017 , we completed multiple sales of our Class A Common Stock in registered public offerings, totaling 41.5 million shares. We used all of the net proceeds from the public offerings to purchase partnership units in New TMM, our direct subsidiary, along with shares of our Class B Common Stock, held by our Principal Equityholders. As a result of all net proceeds being distributed to our Principal Equityholders, we adjusted Non-controlling interests - Principal Equityholders and Additional paid-in capital on the Condensed Consolidated Balance Sheets and Condensed Consolidated Statement of Stockholders' Equity to reflect the change in ownership. The aggregate number of partnership units and corresponding shares of Class B Common Stock we purchased was equal to the number of shares of Class A Common Stock sold in the public offerings. Refer to Note 11- Stockholders' Equity for discussion regarding our equity offering transactions during the nine months ended September 30, 2017 . Real Estate Inventory —We assess the recoverability of our land inventory in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment . We review our real estate inventory for indicators of impairment by community during each reporting period. If indicators of impairment are present for a community, we first perform an undiscounted cash flow analysis to determine if the carrying value of the assets in that community exceeds the expected undiscounted cash flows. Generally, if the carrying value of the assets exceeds their estimated undiscounted cash flows, then the assets are deemed to be impaired and are recorded at fair value as of the assessment. Our determination of fair value is based on a discounted cash flow model which includes projections and estimates relating to sales prices, construction costs, sales pace, and other factors. Changes in these expectations may lead to a change in the outcome of our impairment analysis, and actual results may also differ from our assumptions. For the three and nine months ended September 30, 2017 and 2016 , no impairment charges were recorded. Investments in Unconsolidated Entities —We evaluate our investments in unconsolidated entities for indicators of impairment. 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, our intent and ability to recover our investment in the unconsolidated entity, financial condition and long-term prospects of the unconsolidated 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 nine months ended September 30, 2017 or 2016 . 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 is 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. Also included in mortgage operations revenue/expenses is the realized and unrealized gains and loss from hedging instruments. Recently Issued Accounting Pronouncements — In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 eliminates Step 2 from the goodwill impairment test. This change will allow an entity to avoid calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination, thus reducing the cost and complexity of evaluating goodwill for impairment. This amendment will be effective for us in our fiscal year beginning January 1, 2020. We do not believe the adoption of ASU 2017-04 will have a material impact on our condensed consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business ("ASU 2017-01"). ASU 2017-01 provides clarification on the definition of a business by providing a screen to determine when a set of assets is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of assets is not a business. This screen is expected to reduce the number of transactions that need to be further evaluated. This amendment will be effective for us in our fiscal year beginning January 1, 2018. As ASU 2017-01 is not retroactive, we do not believe such guidance will have a significant impact on our condensed consolidated financial statements and disclosures. Once adopted, we will evaluate the impact ASU 2017-01 will have on our condensed consolidated financial statements and disclosures in the event of future acquisitions. 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 do not believe the adoption of ASU 2016-02 will have a material impact on our condensed consolidated financial statements and disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“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 the modified retrospective approach. We do not believe the adoption of this pronouncement will have a material impact on our condensed consolidated financial statements and disclosures. We will have new disclosures as required by the new standard. We believe the guidance relating to the cost to obtain a contract component of the new standard will have an impact on our condensed consolidated financial statements and disclosures. We also believe the adoption of this pronouncement will not materially affect our post-adoption revenue recognition since we have limited circumstances where we have separate performance obligations within our contracts.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 30, 2017
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 holdbacks 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 the transaction. Unaudited pro forma results of the business combination as if Acadia Homes had been acquired on January 1, 2016 have not been provided as they are immaterial to the total Company's consolidated results of operations. 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, and overhead costs, all of which may vary significantly between communities. The Company has completed a final allocation of purchase price as of the acquisition date for Acadia Homes. 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.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2017
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 dilutive 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 September 30, Nine Months Ended 2017 2016 2017 2016 Numerator: Net income available to TMHC – basic $ 32,876 $ 14,837 $ 68,789 $ 33,335 Net income attributable to non-controlling interest – Principal Equityholders 21,390 43,471 76,810 96,261 Loss fully attributable to public holding company 136 19 288 191 Net income – diluted $ 54,402 $ 58,327 $ 145,887 $ 129,787 Denominator: Weighted average shares – basic (Class A) 72,471 30,427 56,791 31,300 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 47,253 89,053 62,842 89,089 Restricted stock units 1,121 522 1,026 463 Stock Options 338 101 332 18 Weighted average shares – diluted 121,183 120,103 120,991 120,870 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 0.45 $ 0.49 $ 1.21 $ 1.07 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 0.45 $ 0.49 $ 1.21 $ 1.07 We excluded a total weighted average of 1,685,938 and 1,602,509 outstanding anti-dilutive stock options and unvested restricted stock units (“RSUs”) and 1,926,836 and 1,578,969 outstanding stock options and unvested RSUs from the calculation of earnings per share for the three and nine months ended September 30, 2017 and 2016 , respectively. 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.

REAL ESTATE INVENTORY AND LAND

REAL ESTATE INVENTORY AND LAND DEPOSITS	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
REAL ESTATE INVENTORY AND LAND DEPOSITS	REAL ESTATE INVENTORY AND LAND DEPOSITS Inventory consists of the following (in thousands): As of September 30, December 31, 2016 Real estate developed and under development $ 2,171,670 $ 2,074,651 Real estate held for development or held for sale (1) 143,585 183,638 Operating communities (2) 825,946 650,036 Capitalized interest 99,463 102,642 Total owned inventory 3,240,664 3,010,967 Real estate not owned under option agreements 3,107 6,252 Total real estate inventory $ 3,243,771 $ 3,017,219 (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 long-term strategic assets. (2) Operating communities consist 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 September 30, 2017 December 31, 2016 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 7,922 $ 349,467 7,142 $ 403,902 Partially developed 5,526 526,904 8,037 501,496 Finished 12,828 1,426,683 11,318 1,336,709 Long-term strategic assets 893 12,201 1,489 16,182 Total 27,169 $ 2,315,255 27,986 $ 2,258,289 Land Deposits — We provide deposits related to land options and land purchase contracts, which are capitalized when paid and classified as land deposits until the associated property is purchased. As of September 30, 2017 and December 31, 2016 , we had the right to purchase 7,049 and 7,583 lots under land option purchase contracts, respectively, for an aggregate purchase price of $520.8 million and $542.6 million as of September 30, 2017 and December 31, 2016 , respectively. We do not have title to the properties, and the creditors generally have no recourse against the Company. As of September 30, 2017 and December 31, 2016 , our exposure to loss related to our option contracts with third parties and unconsolidated entities consist of non-refundable option deposits totaling $50.9 million and $37.2 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 Nine Months Ended 2017 2016 2017 2016 Interest capitalized - beginning of period $ 100,490 $ 111,063 $ 102,642 $ 105,148 Interest incurred 20,762 21,851 62,187 66,296 Interest amortized to cost of home closings (21,789 ) (21,502 ) (65,366 ) (60,032 ) Interest capitalized - end of period $ 99,463 $ 111,412 $ 99,463 $ 111,412

INVESTMENTS IN UNCONSOLIDATED E

INVESTMENTS IN UNCONSOLIDATED ENTITIES	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES	INVESTMENTS IN UNCONSOLIDATED ENTITIES We have investments 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. 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. Summarized, unaudited combined financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands): As of September 30, December 31, Assets: Real estate inventory $ 736,746 $ 614,441 Other assets 122,036 171,216 Total assets $ 858,782 $ 785,657 Liabilities and owners’ equity: Debt $ 298,347 $ 277,934 Other liabilities 25,585 22,603 Total liabilities 323,932 300,537 Owners’ equity: TMHC 184,817 157,909 Others 350,033 327,211 Total owners’ equity 534,850 485,120 Total liabilities and owners’ equity $ 858,782 $ 785,657 Three Months Ended Nine Months Ended 2017 2016 2017 2016 Revenues $ 60,020 $ 45,219 $ 147,273 $ 94,881 Costs and expenses (47,505 ) (38,618 ) (118,546 ) (78,838 ) Income of unconsolidated entities $ 12,515 $ 6,601 $ 28,727 $ 16,043 TMHC’s share in income of unconsolidated entities $ 2,787 $ 1,646 $ 6,943 $ 4,734 Distributions from unconsolidated entities $ 2,098 $ 2,755 $ 8,889 $ 6,084

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2017
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 $ 9,597 $ 15,156 Compensation and employee benefits 53,065 63,802 Self-insurance and warranty reserves 51,536 50,550 Interest payable 24,454 17,233 Property and sales taxes payable 11,486 17,231 Other accruals 40,246 45,230 Total accrued expenses and other liabilities $ 190,384 $ 209,202 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 Nine Months Ended 2017 2016 2017 2016 Reserve - beginning of period $ 54,084 $ 44,342 $ 50,550 $ 43,098 Additions to reserves 6,403 8,902 17,446 19,685 Costs and claims incurred (8,203 ) (5,173 ) (18,131 ) (17,720 ) Change in estimates to existing reserves (748 ) (1,590 ) 1,671 1,418 Reserve - end of period $ 51,536 $ 46,481 $ 51,536 $ 46,481

DEBT

DEBT	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Total debt consists of the following (in thousands): As of September 30, 2017 December 31, 2016 Principal Unamortized Debt Issuance Costs Carrying Value Principal Unamortized Debt Issuance Costs Carrying Value 5.25% Senior Notes due 2021, unsecured $ 550,000 $ 4,192 $ 545,808 $ 550,000 $ 5,089 $ 544,911 5.875% Senior Notes due 2023, unsecured 350,000 3,143 346,857 350,000 3,569 346,431 5.625% Senior Notes due 2024, unsecured 350,000 3,454 346,546 350,000 3,858 346,142 Senior Notes subtotal 1,250,000 10,789 1,239,211 1,250,000 12,516 1,237,484 Loans payable and other borrowings 161,798 — 161,798 150,485 — 150,485 Revolving Credit Facility — — — — — — Mortgage warehouse borrowings 61,292 — 61,292 198,564 — 198,564 Total Senior Notes and bank financing $ 1,473,090 $ 10,789 $ 1,462,301 $ 1,599,049 $ 12,516 $ 1,586,533 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) 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. The 2021 Senior Notes are redeemable at scheduled redemption prices, currently at 102.625% , of their principal amount (plus accrued and unpaid interest). 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 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 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. 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 $1.6 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 September 30, 2017 , 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 September 30, 2017 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 2,703 $ 20,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 23,290 50,000 LIBOR + 2.25% November 16, 2017 Mortgage Loans J.P. Morgan 35,299 100,000 LIBOR + 2.375% September 26, 2018 Mortgage Loans and Pledged Cash Total $ 61,292 $ 170,000 As of December 31, 2016 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 37,093 $ 55,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 57,875 85,000 LIBOR + 2.25% November 16, 2017 Mortgage Loans J.P. Morgan 103,596 125,000 LIBOR + 2.375% to 2.5% September 26, 2017 Mortgage Loans and Pledged Cash Total $ 198,564 $ 265,000 (1) The mortgage warehouse borrowings outstanding as of September 30, 2017 and December 31, 2016 were collateralized by a) $107.7 million and $233.2 million , respectively, of mortgage loans held for sale, which comprised the balance of mortgage loans held for sale and b) approximately $1.3 million and $1.6 million , respectively, of cash which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets. Loans Payable and Other Borrowings Loans payable and other borrowings as of September 30, 2017 and December 31, 2016 consist of project-level debt due to various land sellers and seller financing notes from current and prior year acquisitions. Project-level debt is generally secured by the land that was acquired and the principal payments generally coincide with corresponding project lot sales or a principal reduction schedule. Loans payable bear interest at rates that ranged from 0% to 8% at September 30, 2017 and December 31, 2016 . We impute interest for loans with no stated interest rates.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2017
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 derivative assets includes interest rate lock commitments (“IRLCs”) and mortgage backed securities (“MBS”). The fair value of IRLCs is based on the value of the underlying mortgage loan, quoted MBS prices and the probability that the mortgage loan will fund within the terms of the IRLCs. We estimate the fair value of the forward sales commitments based on quoted MBS prices. The fair value of our mortgage warehouse borrowings, loans payable and other borrowings and the borrowings under our Revolving Credit Facility approximate carrying value due to their short term nature and variable interest rate terms. The fair value of our Senior Notes is derived from quoted market prices by independent dealers in markets that are not active. The fair value of the contingent consideration liability related to previous acquisitions was estimated using a Monte Carlo simulation model under the option pricing method. As the measurement of the contingent consideration is based primarily on significant inputs not observable in the market, it represents a Level 3 measurement. There were no changes to or transfers between the levels of the fair value hierarchy for any of our financial instruments as of September 30, 2017 , when compared to December 31, 2016 . The carrying value and fair value of our financial instruments are as follows: September 30, 2017 December 31, 2016 (Dollars in thousands) Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Description: Mortgage loans held for sale 2 $ 107,665 $ 107,665 $ 233,184 $ 233,184 Derivative assets 2 2,037 2,037 2,291 2,291 Mortgage warehouse borrowings 2 61,292 61,292 198,564 198,564 Loans payable and other borrowings 2 161,798 161,798 150,485 150,485 5.25% Senior Notes due 2021 (1) 2 545,808 564,465 544,911 563,750 5.875% Senior Notes due 2023 (1) 2 346,857 371,000 346,431 355,250 5.625% Senior Notes due 2024 (1) 2 346,546 364,000 346,142 353,500 Revolving Credit Facility 2 — — — — Contingent consideration liability 3 5,358 5,358 17,200 17,200 (1) Carrying value for Senior Notes, as presented, includes unamortized debt issuance costs. Debt issuance costs are not factored into the fair value calculation for the Senior Notes. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis as of December 31, 2016 . (Dollars in thousands) Description: Level in Fair Value at December 31, 2016 Inventories (1) 3 $ 3,778 (1) During the year ended December 31, 2016 , we recorded $3.5 million of impairment charges. As of September 30, 2017 , the fair value for such inventories was not determined as there were no events and circumstances that indicated their carrying value was not recoverable.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate for the three and nine months ended September 30, 2017 was 30.7% and 31.0% , respectively, compared to 35.1% and 33.8% for the same periods in 2016 , respectively. For the three and nine months ended September 30, 2017 and 2016 , the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, special deductions and credits relating to homebuilding activities, uncertain tax positions, and discrete tax adjustments related to certain deferred tax assets and liabilities. At September 30, 2017 and December 31, 2016 , we had $12.9 million and $7.8 million of cumulative gross unrecognized tax benefits, respectively. All unrecognized tax benefits, if recognized, would affect our effective tax rate. We had $0.9 million and $0.4 million of gross interest and penalties related to unrecognized tax positions accrued as of September 30, 2017 and December 31, 2016 , respectively.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2017
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. During the nine months ended September 30, 2017 , we completed multiple sales of our Class A Common Stock in registered public offerings. We used all of the net proceeds from these public offerings to purchase partnership units in New TMM, our direct subsidiary, along with shares of our Class B Common Stock, held by our Principal Equityholders. As a result of net proceeds being distributed to our Principal Equityholders, we adjusted Non-controlling interests - Principal Equityholders and Additional paid-in capital on the Condensed Consolidated Balance Sheets to reflect the change in ownership. The aggregate number of partnership units and corresponding shares of Class B Common Stock we purchased was equal to the number of shares of Class A Common Stock sold in the public offerings. The following is a summary of the completed sales of our Class A Common Stock in registered public offerings. (Shares presented in thousands) Closing date Number of shares Net purchase price per share February 6, 2017 11,500 $ 18.2875 March 27, 2017 10,000 20.7800 May 5, 2017 10,000 23.1200 June 27, 2017 10,000 23.3000 The components and respective voting power of outstanding TMHC Common Stock including the effects of the secondary offerings at September 30, 2017 are as follows: Shares Outstanding Percentage Class A Common Stock 72,307,299 60.5 % Class B Common Stock 47,249,127 39.5 % Total 119,556,426 100 % Stock Repurchase Program On September 18, 2017, our Board of Directors authorized an extension of the Company's stock repurchase program through December 31, 2018 and increased the amount available for repurchases under the program to a maximum total amount of $100.0 million of the Company’s Class A Common Stock 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, statutory requirements, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements. During the three and nine months ended September 30, 2017 , we repurchased 195,824 for $4.1 million . During the three and nine months ended September 30, 2016 , we repurchased 247,366 and 1,918,999 for $3.8 million and $28.5 million , respectively. As of September 30, 2017 , there was $95.9 million available to be used for repurchases.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION Equity-Based Compensation In April 2013, we adopted the Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan (the "Plan"). The Plan was most recently amended and restated in May 2017. The Plan provides for the grant of stock options, RSUs and other equity-based awards deliverable in shares of our Class A Common Stock. As of September 30, 2017 , we had an aggregate of 8,989,860 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, all of which is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Restricted stock units (1) $ 2,157 $ 1,810 $ 6,348 $ 4,948 Stock options 1,162 1,056 3,308 3,074 New TMM units 58 176 571 937 Total stock compensation $ 3,377 $ 3,042 $ 10,227 $ 8,959 (1) Includes compensation expense related to time-based RSUs and performance-based RSUs. Outstanding performance-based RSUs reflected in the table above are reported at target level of performance. At September 30, 2017 and December 31, 2016 , the aggregate unrecognized value of all outstanding stock-based compensation awards was approximately $23.4 million and $18.8 million , respectively. Restricted Stock Units – The following table summarizes the time-based RSU and performance-based RSU activity for the nine months ended September 30, 2017 : Shares Weighted Average Grant Date Fair Value Balance at December 31, 2016 1,358,701 $ 13.39 Granted 647,354 18.06 Vested (78,221 ) 17.43 Forfeited (53,892 ) 13.95 Balance at September 30, 2017 1,873,942 $ 14.82 During the three and nine months ended September 30, 2017 , 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 awards that settle in shares of Class A Common Stock and have been awarded to our employees and members of our Board of Directors. Vesting of these 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 date the Compensation Committee certifies the applicable level of performance achieved 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 nine months ended September 30, 2017 : Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2016 2,431,347 $ 17.09 Granted 790,651 19.05 Exercised (265,167 ) 18.07 Canceled/Forfeited (74,811 ) 18.01 Outstanding at September 30, 2017 2,882,020 $ 17.52 Options exercisable at September 30, 2017 933,259 $ 19.63 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 options expire 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. 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 members of management and members of our Board of Directors as of September 30, 2017 were as follows: Class B Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2016 1,146,357 $ 5.58 Exchanges (1) (191,333 ) 5.36 Forfeited (2) (1,592 ) 8.52 Balance at September 30, 2017 (3) 953,432 $ 5.62 (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. (3) The number of vested and unexchanged New TMM Units as of September 30, 2017 was 931,462 .

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
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. Such transactions with related parties are typically conducted in the normal course of operations and are generally executed at arm’s length, as they are entered into at terms comparable to those entered into with unrelated third parties. For the nine months ended September 30, 2017, we engaged in multiple equity offering transactions with our principal equityholders. Refer to Note 11 - Stockholders' Equity for discussion regarding such transactions. During the nine months ended September 30, 2017, we entered into a contract to purchase 140 home lots in Tustin, California for a total purchase price of $30.0 million from Intracorp Companies, which is owned and controlled by a member of the Board of Directors. For the three and nine months ended September 30, 2016 there were no related-party transactions.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2017
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 activity in the three months ended September 30, 2017 and 2016, therefore they are not presented. Nine Months Ended September 30, 2017 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 2,061 $ (79,927 ) $ 59,877 $ (17,989 ) Gross amounts reclassified within accumulated other comprehensive income — 27,968 (27,968 ) — Balance, end of period $ 2,061 $ (51,959 ) $ 31,909 $ (17,989 ) Nine Months Ended September 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 income before reclassifications (447 ) — — (447 ) Other comprehensive income, 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 ) 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.

REPORTING SEGMENTS

REPORTING SEGMENTS	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
REPORTING SEGMENTS	REPORTING SEGMENTS We have multiple homebuilding operating components 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 components into three reporting segments, East, Central, and West, based on similar long-term economic characteristics. We also have a mortgage and title services reporting segment. We have no inter-segment sales as all sales are to external customers. During the quarter ended March 31, 2017, we realigned our homebuilding operating divisions within our existing segments based on geographic location and management's long term strategic plans. As a result, all historical periods presented in the segment information have been reclassified to give effect to this segment realignment. Our reporting segments are as follows: East Atlanta, Charlotte, Chicago, Orlando, Raleigh, Southwest Florida and Tampa Central Austin, Dallas and Houston (both include a Taylor Morrison division and a Darling Homes division) and Denver West Bay Area, Phoenix, Sacramento and Southern California Mortgage Operations Taylor Morrison Home Funding and Inspired Title Segment information is as follows (in thousands): Three Months Ended September 30, 2017 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 312,539 $ 256,842 $ 321,167 $ 17,479 $ — $ 908,027 Gross margin 63,188 47,797 54,924 5,409 — 171,318 Selling, general and administrative expenses (28,469 ) (25,108 ) (19,087 ) — (22,186 ) (94,850 ) Equity in income of unconsolidated entities — 693 924 1,170 — 2,787 Interest and other (expense)/income, net (7 ) (87 ) 46 — (232 ) (280 ) Income/(loss) before income taxes $ 34,712 $ 23,295 $ 36,807 $ 6,579 $ (22,418 ) $ 78,975 Three Months Ended September 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 288,639 $ 273,095 $ 277,869 $ 13,814 $ — $ 853,417 Gross margin 70,026 51,267 51,624 5,937 — 178,854 Selling, general and administrative expenses (26,866 ) (24,842 ) (18,507 ) — (18,006 ) (88,221 ) Equity in income of unconsolidated entities 132 331 319 864 — 1,646 Interest and other (expense)/income, net (1,260 ) (1,148 ) 162 4 354 (1,888 ) Income/(loss) before income taxes $ 42,032 $ 25,608 $ 33,598 $ 6,805 $ (17,652 ) $ 90,391 Nine Months Ended September 30, 2017 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 896,258 $ 730,659 $ 911,332 $ 47,362 $ — $ 2,585,611 Gross margin 185,534 133,418 148,991 16,488 — 484,431 Selling, general and administrative expenses (84,975 ) (72,533 ) (56,994 ) — (64,503 ) (279,005 ) Equity in income of unconsolidated entities — 751 1,526 4,666 — 6,943 Interest and other (expense)/income, net (220 ) 171 (146 ) — (319 ) (514 ) Income/(loss) before income taxes $ 100,339 $ 61,807 $ 93,377 $ 21,154 $ (64,822 ) $ 211,855 Nine Months Ended September 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 737,550 $ 767,825 $ 810,736 $ 36,951 $ — $ 2,353,062 Gross margin 161,437 138,647 142,806 14,357 — 457,247 Selling, general and administrative expenses (76,027 ) (71,727 ) (54,276 ) — (54,348 ) (256,378 ) Equity in income of unconsolidated entities 440 110 1,303 2,881 — 4,734 Interest and other (expense)/income, net (3,821 ) (3,140 ) (250 ) 14 (1,256 ) (8,453 ) Income/(loss) before income taxes $ 82,029 $ 63,890 $ 89,583 $ 17,252 $ (55,604 ) $ 197,150 As of September 30, 2017 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,236,731 $ 906,024 $ 1,151,895 $ — $ — $ 3,294,650 Investments in unconsolidated entities 27,593 32,695 120,914 3,615 — 184,817 Other assets 58,004 126,162 51,277 153,728 448,690 837,861 Total assets $ 1,322,328 $ 1,064,881 $ 1,324,086 $ 157,343 $ 448,690 $ 4,317,328 As of December 31, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,110,340 $ 829,354 $ 1,114,758 $ — $ — $ 3,054,452 Investments in unconsolidated entities 25,923 30,146 98,625 3,215 — 157,909 Other assets 80,320 139,383 43,304 269,131 476,427 1,008,565 Total assets $ 1,216,583 $ 998,883 $ 1,256,687 $ 272,346 $ 476,427 $ 4,220,926

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2017
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 $317.8 million and $302.8 million as of September 30, 2017 and December 31, 2016 , respectively. Although significant development and construction activities have been completed related to these site improvements, the bonds are generally not released until all development and construction activities are completed. We do not believe that it is probable that any outstanding bonds as of September 30, 2017 will be drawn upon. Legal Proceedings — We are involved in various litigation and legal claims in the normal course of our business operations, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. At September 30, 2017 and December 31, 2016 , our legal accruals were $2.7 million and $4.4 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.

MORTGAGE HEDGING ACTIVITIES

MORTGAGE HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
MORTGAGE HEDGING ACTIVITIES	MORTGAGE HEDGING ACTIVITIES We enter into IRLCs to originate residential mortgage loans held for sale, at specified interest rates and within a specified period of time (generally between 30 and 60 days), with customers who have applied for a loan and meet certain credit and underwriting criteria. These IRLCs meet the definition of a derivative and are reflected on the balance sheet at fair value with changes in fair value recognized in mortgage operations revenue/expenses on the statement of operations and other comprehensive income. Unrealized gains and losses on the IRLCs, reflected as derivative assets, are measured based on the fair value of the underlying mortgage loan, quoted Agency MBS prices, estimates of the fair value of the mortgage servicing rights (“MSRs”) and the probability that the mortgage loan will fund within the terms of the IRLC, net of commission expense and broker fees. The fair value of the forward loan sales commitment and mandatory delivery commitments being used to hedge the IRLCs and mortgage loans held for sale not committed to be purchased by investors are based on quoted Agency MBS prices. The following summarizes derivative instrument assets (liabilities) as of the periods presented: As of September 30, 2017 December 31, 2016 (Dollars in thousands) Fair Value Notional Amount Fair Value Notional Amount IRLCs $ 1,752 $ 75,739 $ 1,987 $ 61,655 MBSs 285 101,000 304 97,000 Total $ 2,037 $ 2,291 Total commitments to originate loans approximated $119.7 million as of September 30, 2017 . This amount represents the commitments to originate loans for both best efforts and mandatory loans that have been locked and approved by underwriting. The notional amount in the table above includes only mandatory loans, that have been locked and approved by underwriting. We have exposure to credit loss in the event of contractual non-performance by our trading counterparties in derivative instruments that we use in our rate risk management activities. We manage this credit risk by selecting only counterparties that we believe to be financially strong, spreading the risk among multiple counterparties, by placing contractual limits on the amount of unsecured credit extended to any single counterparty, and by entering into netting agreements with counterparties, as appropriate. Commitments to originate loans do not necessarily reflect future cash requirements as some commitments are expected to expire without being drawn upon.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 12, 2017 we completed the purchase of 112 acres of land in South Carolina for $10.5 million . The land was purchased from IOTA Doby Bridge, LLC which is managed and partly owned by Gibralter Capital and Asset Managment, LLC, a fund managed by one of our principal equityholders, Oaktree Capital.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
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 2016 Annual Report on Form 10-K (the “Annual Report”). In the opinion of management, the accompanying Unaudited 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.
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 sole owner of 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 of investors 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 members of the Board of Directors.
Reclassifications	Reclassifications - Prior period amounts for cash, cash equivalents, and restricted cash on the Condensed Consolidated Statements of Cash Flows have been reclassified to conform with current period financial statement presentation as a result of adopting Accounting Standards Update ("ASU") 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.
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 —We assess the recoverability of our land inventory in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment . We review our real estate inventory for indicators of impairment by community during each reporting period. If indicators of impairment are present for a community, we first perform an undiscounted cash flow analysis to determine if the carrying value of the assets in that community exceeds the expected undiscounted cash flows. Generally, if the carrying value of the assets exceeds their estimated undiscounted cash flows, then the assets are deemed to be impaired and are recorded at fair value as of the assessment. Our determination of fair value is based on a discounted cash flow model which includes projections and estimates relating to sales prices, construction costs, sales pace, and other factors. Changes in these expectations may lead to a change in the outcome of our impairment analysis, and actual results may also differ from our assumptions.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities —We evaluate our investments in unconsolidated entities for indicators of impairment. 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, our intent and ability to recover our investment in the unconsolidated entity, financial condition and long-term prospects of the unconsolidated 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.
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 is 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. Also included in mortgage operations revenue/expenses is the realized and unrealized gains and loss from hedging instruments.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements — In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 eliminates Step 2 from the goodwill impairment test. This change will allow an entity to avoid calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination, thus reducing the cost and complexity of evaluating goodwill for impairment. This amendment will be effective for us in our fiscal year beginning January 1, 2020. We do not believe the adoption of ASU 2017-04 will have a material impact on our condensed consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business ("ASU 2017-01"). ASU 2017-01 provides clarification on the definition of a business by providing a screen to determine when a set of assets is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of assets is not a business. This screen is expected to reduce the number of transactions that need to be further evaluated. This amendment will be effective for us in our fiscal year beginning January 1, 2018. As ASU 2017-01 is not retroactive, we do not believe such guidance will have a significant impact on our condensed consolidated financial statements and disclosures. Once adopted, we will evaluate the impact ASU 2017-01 will have on our condensed consolidated financial statements and disclosures in the event of future acquisitions. 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 do not believe the adoption of ASU 2016-02 will have a material impact on our condensed consolidated financial statements and disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“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 the modified retrospective approach. We do not believe the adoption of this pronouncement will have a material impact on our condensed consolidated financial statements and disclosures. We will have new disclosures as required by the new standard. We believe the guidance relating to the cost to obtain a contract component of the new standard will have an impact on our condensed consolidated financial statements and disclosures. We also believe the adoption of this pronouncement will not materially affect our post-adoption revenue recognition since we have limited circumstances where we have separate performance obligations within our contracts.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Created	The following is a summary of the fair value of assets acquired, liabilities assumed, and liabilities created: (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.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2017
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 September 30, Nine Months Ended 2017 2016 2017 2016 Numerator: Net income available to TMHC – basic $ 32,876 $ 14,837 $ 68,789 $ 33,335 Net income attributable to non-controlling interest – Principal Equityholders 21,390 43,471 76,810 96,261 Loss fully attributable to public holding company 136 19 288 191 Net income – diluted $ 54,402 $ 58,327 $ 145,887 $ 129,787 Denominator: Weighted average shares – basic (Class A) 72,471 30,427 56,791 31,300 Weighted average shares – Principal Equityholders’ non-controlling interest (Class B) 47,253 89,053 62,842 89,089 Restricted stock units 1,121 522 1,026 463 Stock Options 338 101 332 18 Weighted average shares – diluted 121,183 120,103 120,991 120,870 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 0.45 $ 0.49 $ 1.21 $ 1.07 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 0.45 $ 0.49 $ 1.21 $ 1.07

REAL ESTATE INVENTORY AND LAN29

REAL ESTATE INVENTORY AND LAND DEPOSITS (Tables)	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of September 30, December 31, 2016 Real estate developed and under development $ 2,171,670 $ 2,074,651 Real estate held for development or held for sale (1) 143,585 183,638 Operating communities (2) 825,946 650,036 Capitalized interest 99,463 102,642 Total owned inventory 3,240,664 3,010,967 Real estate not owned under option agreements 3,107 6,252 Total real estate inventory $ 3,243,771 $ 3,017,219 (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 long-term strategic assets. (2) Operating communities consist 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 September 30, 2017 December 31, 2016 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 7,922 $ 349,467 7,142 $ 403,902 Partially developed 5,526 526,904 8,037 501,496 Finished 12,828 1,426,683 11,318 1,336,709 Long-term strategic assets 893 12,201 1,489 16,182 Total 27,169 $ 2,315,255 27,986 $ 2,258,289
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Interest capitalized - beginning of period $ 100,490 $ 111,063 $ 102,642 $ 105,148 Interest incurred 20,762 21,851 62,187 66,296 Interest amortized to cost of home closings (21,789 ) (21,502 ) (65,366 ) (60,032 ) Interest capitalized - end of period $ 99,463 $ 111,412 $ 99,463 $ 111,412

INVESTMENTS IN UNCONSOLIDATED30

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2017
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 September 30, December 31, Assets: Real estate inventory $ 736,746 $ 614,441 Other assets 122,036 171,216 Total assets $ 858,782 $ 785,657 Liabilities and owners’ equity: Debt $ 298,347 $ 277,934 Other liabilities 25,585 22,603 Total liabilities 323,932 300,537 Owners’ equity: TMHC 184,817 157,909 Others 350,033 327,211 Total owners’ equity 534,850 485,120 Total liabilities and owners’ equity $ 858,782 $ 785,657 Three Months Ended Nine Months Ended 2017 2016 2017 2016 Revenues $ 60,020 $ 45,219 $ 147,273 $ 94,881 Costs and expenses (47,505 ) (38,618 ) (118,546 ) (78,838 ) Income of unconsolidated entities $ 12,515 $ 6,601 $ 28,727 $ 16,043 TMHC’s share in income of unconsolidated entities $ 2,787 $ 1,646 $ 6,943 $ 4,734 Distributions from unconsolidated entities $ 2,098 $ 2,755 $ 8,889 $ 6,084

ACCRUED EXPENSES AND OTHER LI31

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2017
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 $ 9,597 $ 15,156 Compensation and employee benefits 53,065 63,802 Self-insurance and warranty reserves 51,536 50,550 Interest payable 24,454 17,233 Property and sales taxes payable 11,486 17,231 Other accruals 40,246 45,230 Total accrued expenses and other liabilities $ 190,384 $ 209,202
Summary of Changes in Reserves	A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Reserve - beginning of period $ 54,084 $ 44,342 $ 50,550 $ 43,098 Additions to reserves 6,403 8,902 17,446 19,685 Costs and claims incurred (8,203 ) (5,173 ) (18,131 ) (17,720 ) Change in estimates to existing reserves (748 ) (1,590 ) 1,671 1,418 Reserve - end of period $ 51,536 $ 46,481 $ 51,536 $ 46,481

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Senior Notes and Other Borrowings	Total debt consists of the following (in thousands): As of September 30, 2017 December 31, 2016 Principal Unamortized Debt Issuance Costs Carrying Value Principal Unamortized Debt Issuance Costs Carrying Value 5.25% Senior Notes due 2021, unsecured $ 550,000 $ 4,192 $ 545,808 $ 550,000 $ 5,089 $ 544,911 5.875% Senior Notes due 2023, unsecured 350,000 3,143 346,857 350,000 3,569 346,431 5.625% Senior Notes due 2024, unsecured 350,000 3,454 346,546 350,000 3,858 346,142 Senior Notes subtotal 1,250,000 10,789 1,239,211 1,250,000 12,516 1,237,484 Loans payable and other borrowings 161,798 — 161,798 150,485 — 150,485 Revolving Credit Facility — — — — — — Mortgage warehouse borrowings 61,292 — 61,292 198,564 — 198,564 Total Senior Notes and bank financing $ 1,473,090 $ 10,789 $ 1,462,301 $ 1,599,049 $ 12,516 $ 1,586,533
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage warehouse borrowings (in thousands): As of September 30, 2017 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 2,703 $ 20,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 23,290 50,000 LIBOR + 2.25% November 16, 2017 Mortgage Loans J.P. Morgan 35,299 100,000 LIBOR + 2.375% September 26, 2018 Mortgage Loans and Pledged Cash Total $ 61,292 $ 170,000 As of December 31, 2016 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Flagstar $ 37,093 $ 55,000 LIBOR + 2.5% 30 days written notice Mortgage Loans Comerica 57,875 85,000 LIBOR + 2.25% November 16, 2017 Mortgage Loans J.P. Morgan 103,596 125,000 LIBOR + 2.375% to 2.5% September 26, 2017 Mortgage Loans and Pledged Cash Total $ 198,564 $ 265,000 (1) The mortgage warehouse borrowings outstanding as of September 30, 2017 and December 31, 2016 were collateralized by a) $107.7 million and $233.2 million , respectively, of mortgage loans held for sale, which comprised the balance of mortgage loans held for sale and b) approximately $1.3 million and $1.6 million , respectively, of cash which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets.

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2017
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: September 30, 2017 December 31, 2016 (Dollars in thousands) Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Description: Mortgage loans held for sale 2 $ 107,665 $ 107,665 $ 233,184 $ 233,184 Derivative assets 2 2,037 2,037 2,291 2,291 Mortgage warehouse borrowings 2 61,292 61,292 198,564 198,564 Loans payable and other borrowings 2 161,798 161,798 150,485 150,485 5.25% Senior Notes due 2021 (1) 2 545,808 564,465 544,911 563,750 5.875% Senior Notes due 2023 (1) 2 346,857 371,000 346,431 355,250 5.625% Senior Notes due 2024 (1) 2 346,546 364,000 346,142 353,500 Revolving Credit Facility 2 — — — — Contingent consideration liability 3 5,358 5,358 17,200 17,200 (1) Carrying value for Senior Notes, as presented, includes unamortized debt issuance costs. Debt issuance costs are not factored into the fair value calculation for the Senior Notes.
Assets Measured on a Nonrecurring Basis	The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis as of December 31, 2016 . (Dollars in thousands) Description: Level in Fair Value at December 31, 2016 Inventories (1) 3 $ 3,778 (1) During the year ended December 31, 2016 , we recorded $3.5 million of impairment charges.

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Summary of Class A Common Stock	The following is a summary of the completed sales of our Class A Common Stock in registered public offerings. (Shares presented in thousands) Closing date Number of shares Net purchase price per share February 6, 2017 11,500 $ 18.2875 March 27, 2017 10,000 20.7800 May 5, 2017 10,000 23.1200 June 27, 2017 10,000 23.3000
Components and Voting Power of Outstanding Common Stock	The components and respective voting power of outstanding TMHC Common Stock including the effects of the secondary offerings at September 30, 2017 are as follows: Shares Outstanding Percentage Class A Common Stock 72,307,299 60.5 % Class B Common Stock 47,249,127 39.5 % Total 119,556,426 100 %

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock-Based Compensation Expense	The following table provides information regarding the amount and components of stock-based compensation expense, all of which is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Restricted stock units (1) $ 2,157 $ 1,810 $ 6,348 $ 4,948 Stock options 1,162 1,056 3,308 3,074 New TMM units 58 176 571 937 Total stock compensation $ 3,377 $ 3,042 $ 10,227 $ 8,959 (1) Includes compensation expense related to time-based RSUs and performance-based RSUs. Outstanding performance-based RSUs reflected in the table above are reported at target level of performance.
Summary of Activity of Stock Units	The shares of Class B Common Stock/New TMM Units held by members of management and members of our Board of Directors as of September 30, 2017 were as follows: Class B Shares/New TMM Units Weighted Average Grant Date Fair Value Balance at December 31, 2016 1,146,357 $ 5.58 Exchanges (1) (191,333 ) 5.36 Forfeited (2) (1,592 ) 8.52 Balance at September 30, 2017 (3) 953,432 $ 5.62 (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. (3) The number of vested and unexchanged New TMM Units as of September 30, 2017 was 931,462 . The following table summarizes the time-based RSU and performance-based RSU activity for the nine months ended September 30, 2017 : Shares Weighted Average Grant Date Fair Value Balance at December 31, 2016 1,358,701 $ 13.39 Granted 647,354 18.06 Vested (78,221 ) 17.43 Forfeited (53,892 ) 13.95 Balance at September 30, 2017 1,873,942 $ 14.82
Summary of Stock Option Activity	The following table summarizes the stock option activity for the nine months ended September 30, 2017 : Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2016 2,431,347 $ 17.09 Granted 790,651 19.05 Exercised (265,167 ) 18.07 Canceled/Forfeited (74,811 ) 18.01 Outstanding at September 30, 2017 2,882,020 $ 17.52 Options exercisable at September 30, 2017 933,259 $ 19.63

ACCUMULATED OTHER COMPREHENSI36

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2017
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 activity in the three months ended September 30, 2017 and 2016, therefore they are not presented. Nine Months Ended September 30, 2017 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Principal Equityholders Reclassification Total Balance, beginning of period $ 2,061 $ (79,927 ) $ 59,877 $ (17,989 ) Gross amounts reclassified within accumulated other comprehensive income — 27,968 (27,968 ) — Balance, end of period $ 2,061 $ (51,959 ) $ 31,909 $ (17,989 ) Nine Months Ended September 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 income before reclassifications (447 ) — — (447 ) Other comprehensive income, 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 )

REPORTING SEGMENTS (Tables)

REPORTING SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Reporting Segments	Our reporting segments are as follows: East Atlanta, Charlotte, Chicago, Orlando, Raleigh, Southwest Florida and Tampa Central Austin, Dallas and Houston (both include a Taylor Morrison division and a Darling Homes division) and Denver West Bay Area, Phoenix, Sacramento and Southern California Mortgage Operations Taylor Morrison Home Funding and Inspired Title
Segment Information	Segment information is as follows (in thousands): Three Months Ended September 30, 2017 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 312,539 $ 256,842 $ 321,167 $ 17,479 $ — $ 908,027 Gross margin 63,188 47,797 54,924 5,409 — 171,318 Selling, general and administrative expenses (28,469 ) (25,108 ) (19,087 ) — (22,186 ) (94,850 ) Equity in income of unconsolidated entities — 693 924 1,170 — 2,787 Interest and other (expense)/income, net (7 ) (87 ) 46 — (232 ) (280 ) Income/(loss) before income taxes $ 34,712 $ 23,295 $ 36,807 $ 6,579 $ (22,418 ) $ 78,975 Three Months Ended September 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 288,639 $ 273,095 $ 277,869 $ 13,814 $ — $ 853,417 Gross margin 70,026 51,267 51,624 5,937 — 178,854 Selling, general and administrative expenses (26,866 ) (24,842 ) (18,507 ) — (18,006 ) (88,221 ) Equity in income of unconsolidated entities 132 331 319 864 — 1,646 Interest and other (expense)/income, net (1,260 ) (1,148 ) 162 4 354 (1,888 ) Income/(loss) before income taxes $ 42,032 $ 25,608 $ 33,598 $ 6,805 $ (17,652 ) $ 90,391 Nine Months Ended September 30, 2017 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 896,258 $ 730,659 $ 911,332 $ 47,362 $ — $ 2,585,611 Gross margin 185,534 133,418 148,991 16,488 — 484,431 Selling, general and administrative expenses (84,975 ) (72,533 ) (56,994 ) — (64,503 ) (279,005 ) Equity in income of unconsolidated entities — 751 1,526 4,666 — 6,943 Interest and other (expense)/income, net (220 ) 171 (146 ) — (319 ) (514 ) Income/(loss) before income taxes $ 100,339 $ 61,807 $ 93,377 $ 21,154 $ (64,822 ) $ 211,855 Nine Months Ended September 30, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Total revenues $ 737,550 $ 767,825 $ 810,736 $ 36,951 $ — $ 2,353,062 Gross margin 161,437 138,647 142,806 14,357 — 457,247 Selling, general and administrative expenses (76,027 ) (71,727 ) (54,276 ) — (54,348 ) (256,378 ) Equity in income of unconsolidated entities 440 110 1,303 2,881 — 4,734 Interest and other (expense)/income, net (3,821 ) (3,140 ) (250 ) 14 (1,256 ) (8,453 ) Income/(loss) before income taxes $ 82,029 $ 63,890 $ 89,583 $ 17,252 $ (55,604 ) $ 197,150
Assets from Segment	As of September 30, 2017 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,236,731 $ 906,024 $ 1,151,895 $ — $ — $ 3,294,650 Investments in unconsolidated entities 27,593 32,695 120,914 3,615 — 184,817 Other assets 58,004 126,162 51,277 153,728 448,690 837,861 Total assets $ 1,322,328 $ 1,064,881 $ 1,324,086 $ 157,343 $ 448,690 $ 4,317,328 As of December 31, 2016 East Central West Mortgage Operations Corporate and Unallocated Total Real estate inventory and land deposits $ 1,110,340 $ 829,354 $ 1,114,758 $ — $ — $ 3,054,452 Investments in unconsolidated entities 25,923 30,146 98,625 3,215 — 157,909 Other assets 80,320 139,383 43,304 269,131 476,427 1,008,565 Total assets $ 1,216,583 $ 998,883 $ 1,256,687 $ 272,346 $ 476,427 $ 4,220,926

MORTGAGE HEDGING ACTIVITIES (Ta

MORTGAGE HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summaries of Derivative Instruments	The following summarizes derivative instrument assets (liabilities) as of the periods presented: As of September 30, 2017 December 31, 2016 (Dollars in thousands) Fair Value Notional Amount Fair Value Notional Amount IRLCs $ 1,752 $ 75,739 $ 1,987 $ 61,655 MBSs 285 101,000 304 97,000 Total $ 2,037 $ 2,291

BUSINESS (Detail)

BUSINESS (Detail)	9 Months Ended
	Sep. 30, 2017Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reporting segments	4

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail) - USD ($)	Jun. 27, 2017	May 05, 2017	Mar. 27, 2017	Feb. 06, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Apr. 09, 2013
Accounting Policies [Abstract]
Number of shares issued for each share of Class B Common Stock and TMM Unit converted (in shares)					1		1		1
Class of Stock [Line Items]
Impairment of real estate inventory					$ 0	$ 0	$ 0	$ 0
Equity method investment impairment charges					$ 0	$ 0	$ 0	$ 0
Class A Common Stock
Class of Stock [Line Items]
Issuance of shares from secondary offerings, shares	10,000,000	10,000,000	10,000,000	11,500,000
Class A Common Stock | Common Stock
Class of Stock [Line Items]
Issuance of shares from secondary offerings, shares							41,500,000

BUSINESS COMBINATIONS (Detail)

BUSINESS COMBINATIONS (Detail) - USD ($) $ in Thousands	Jan. 08, 2016	Sep. 30, 2017	Dec. 31, 2016
Assets acquired
Goodwill		$ 66,198	$ 66,198
Acadia Homes
Business Acquisition [Line Items]
Total consideration	$ 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

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net income available to TMHC – basic	$ 32,876	$ 14,837	$ 68,789	$ 33,335
Net income attributable to non-controlling interest – Principal Equityholders	21,390	43,471	76,810	96,261
Loss fully attributable to public holding company	136	19	288	191
Net income – diluted	$ 54,402	$ 58,327	$ 145,887	$ 129,787
Denominator:
Weighted average shares - basic (Class A) (in shares)	72,471	30,427	56,791	31,300
Weighted average shares - Principal Equityholders' non-controlling interest (Class B) (in shares)	47,253	89,053	62,842	89,089
Restricted stock units (in shares)	1,121	522	1,026	463
Stock Options (in shares)	338	101	332	18
Weighted average shares - diluted (in shares)	121,183	120,103	120,991	120,870
Earnings per common share – basic:
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.45	$ 0.49	$ 1.21	$ 1.07
Earnings per common share – diluted:
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.45	$ 0.49	$ 1.21	$ 1.07

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock options and time-vesting RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of earnings per share	1,685,938	1,926,836	1,602,509	1,578,969

REAL ESTATE INVENTORY AND LAN44

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Real Estate [Abstract]
Real estate developed and under development	$ 2,171,670		$ 2,074,651
Real estate held for development or held for sale	143,585		183,638
Operating communities	825,946		650,036
Capitalized interest	99,463	$ 100,490	102,642	$ 111,412	$ 111,063	$ 105,148
Total owned inventory	3,240,664		3,010,967
Real estate not owned under option agreements	3,107		6,252
Total real estate inventory	$ 3,243,771		$ 3,017,219

REAL ESTATE INVENTORY AND LAN45

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Development Status of Land Inventory (Detail) $ in Thousands	Sep. 30, 2017USD ($)Lot	Dec. 31, 2016USD ($)Lot
Inventory [Line Items]
Owned Lots (in lot) | Lot	27,169	27,986
Book Value of Land and Development
Inventory [Line Items]
Raw | $	$ 349,467	$ 403,902
Partially developed | $	526,904	501,496
Finished | $	1,426,683	1,336,709
Long-term strategic assets | $	12,201	16,182
Total | $	$ 2,315,255	$ 2,258,289
Raw
Inventory [Line Items]
Owned Lots (in lot) | Lot	7,922	7,142
Partially developed
Inventory [Line Items]
Owned Lots (in lot) | Lot	5,526	8,037
Finished
Inventory [Line Items]
Owned Lots (in lot) | Lot	12,828	11,318
Long-term strategic assets
Inventory [Line Items]
Owned Lots (in lot) | Lot	893	1,489

REAL ESTATE INVENTORY AND LAN46

REAL ESTATE INVENTORY AND LAND DEPOSITS - Additional Information (Detail) $ in Millions	Sep. 30, 2017USD ($)Lot	Dec. 31, 2016USD ($)Lot
Real Estate [Abstract]
Right to purchase lots of land option (in lot) | Lot	7,049	7,583
Aggregate purchase price	$ 520.8	$ 542.6
Non-refundable option deposits	$ 50.9	$ 37.2

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized - beginning of period	$ 100,490	$ 111,063	$ 102,642	$ 105,148
Interest incurred	20,762	21,851	62,187	66,296
Interest amortized to cost of home closings	(21,789)	(21,502)	(65,366)	(60,032)
Interest capitalized - end of period	$ 99,463	$ 111,412	$ 99,463	$ 111,412

INVESTMENTS IN UNCONSOLIDATED48

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Additional Information (Detail)	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Maximum 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	Sep. 30, 2017	Dec. 31, 2016
Assets:
Other assets	$ 837,861	$ 1,008,565
Liabilities and owners’ equity:
Debt	1,462,301	1,586,533
Equity Method Investments
Assets:
Real estate inventory	736,746	614,441
Other assets	122,036	171,216
Total assets	858,782	785,657
Liabilities and owners’ equity:
Debt	298,347	277,934
Other liabilities	25,585	22,603
Total liabilities	323,932	300,537
Owners’ equity:
TMHC	184,817	157,909
Others	350,033	327,211
Total owners’ equity	534,850	485,120
Total liabilities and owners’ equity	$ 858,782	$ 785,657

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
TMHC’s share in income of unconsolidated entities	$ 2,787	$ 1,646	$ 6,943	$ 4,734
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Revenues	60,020	45,219	147,273	94,881
Costs and expenses	(47,505)	(38,618)	(118,546)	(78,838)
Income of unconsolidated entities	12,515	6,601	28,727	16,043
TMHC’s share in income of unconsolidated entities	2,787	1,646	6,943	4,734
Distributions from unconsolidated entities	$ 2,098	$ 2,755	$ 8,889	$ 6,084

ACCRUED EXPENSES AND OTHER LI51

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 9,597		$ 15,156
Compensation and employee benefits	53,065		63,802
Self-insurance and warranty reserves	51,536	$ 54,084	50,550	$ 46,481	$ 44,342	$ 43,098
Interest payable	24,454		17,233
Property and sales taxes payable	11,486		17,231
Other accruals	40,246		45,230
Total accrued expenses and other liabilities	$ 190,384		$ 209,202

ACCRUED EXPENSES AND OTHER LI52

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Changes in Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Payables and Accruals [Abstract]
Standard product warranty term (in years)			1 year
Changes in Warranty Reserves
Reserve - beginning of period	$ 54,084	$ 44,342	$ 50,550	$ 43,098
Additions to reserves	6,403	8,902	17,446	19,685
Costs and claims incurred	(8,203)	(5,173)	(18,131)	(17,720)
Change in estimates to existing reserves	(748)	(1,590)	1,671	1,418
Reserve - end of period	$ 51,536	$ 46,481	$ 51,536	$ 46,481

DEBT - Senior Notes and Other B

DEBT - Senior Notes and Other Borrowings (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Mar. 05, 2014	Apr. 16, 2013
Debt Instrument [Line Items]
Principal	$ 1,473,090	$ 1,599,049
Unamortized Debt Issuance Costs	10,789	12,516
Carrying Value	1,462,301	1,586,533
Loans payable and other borrowings
Debt Instrument [Line Items]
Principal	161,798	150,485
Unamortized Debt Issuance Costs	0	0
Carrying Value	161,798	150,485
Mortgage warehouse borrowings
Debt Instrument [Line Items]
Principal	61,292	198,564
Unamortized Debt Issuance Costs	0	0
Carrying Value	61,292	198,564
Revolving Credit Facility
Debt Instrument [Line Items]
Principal	0	0
Unamortized Debt Issuance Costs	0	0
Carrying Value	0	0
Senior Notes
Debt Instrument [Line Items]
Principal	1,250,000	1,250,000
Unamortized Debt Issuance Costs	10,789	12,516
Carrying Value	1,239,211	1,237,484
Senior Notes | 5.25% Senior Notes due 2021, unsecured
Debt Instrument [Line Items]
Principal	550,000	550,000
Unamortized Debt Issuance Costs	4,192	5,089
Carrying Value	$ 545,808	544,911
Stated interest rate of senior notes	5.25%			5.25%
Senior Notes | 5.875% Senior Notes due 2023, unsecured
Debt Instrument [Line Items]
Principal	$ 350,000	350,000
Unamortized Debt Issuance Costs	3,143	3,569
Carrying Value	$ 346,857	346,431
Stated interest rate of senior notes	5.875%
Senior Notes | 5.625% Senior Notes due 2024, unsecured
Debt Instrument [Line Items]
Principal	$ 350,000	350,000
Unamortized Debt Issuance Costs	3,454	3,858
Carrying Value	$ 346,546	$ 346,142
Stated interest rate of senior notes	5.625%		5.625%

DEBT - 2021 Senior Notes - Addi

DEBT - 2021 Senior Notes - Additional Information (Detail) - 5.25% Senior Notes due 2021, unsecured - Senior Notes - USD ($)	Apr. 16, 2013	Sep. 30, 2017
Debt Instrument [Line Items]
Senior Notes issued amount	$ 550,000,000
Stated interest rate of senior notes	5.25%	5.25%
Redemption price (as a percent)	101.00%	102.625%

DEBT - 2023 Senior Notes and Re

DEBT - 2023 Senior Notes and Redemption of 2020 Senior Notes - Additional Information (Detail) - USD ($)	Apr. 16, 2015	Sep. 30, 2017	May 01, 2015
5.875% Senior Notes due 2023, unsecured | Unsecured Debt
Debt Instrument [Line Items]
Senior Notes issued amount	$ 350,000,000
Stated interest rate of senior notes	5.875%
Redemption price (as a percent)		100.00%
5.875% Senior Notes due 2023, unsecured | Senior Notes
Debt Instrument [Line Items]
Stated interest rate of senior notes		5.875%
7.75% Senior Notes due 2020 | Unsecured Debt
Debt Instrument [Line Items]
Percentage of redemption price, principal amount of debt	105.813%
7.75% Senior Notes due 2020 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate of senior notes			7.75%

DEBT - 2024 Senior Notes - Addi

DEBT - 2024 Senior Notes - Additional Information (Detail) - 5.625% Senior Notes due 2024, unsecured - Senior Notes - USD ($)	9 Months Ended
	Sep. 30, 2017	Mar. 05, 2014
Debt Instrument [Line Items]
Senior Notes issued amount		$ 350,000,000
Stated interest rate of senior notes	5.625%	5.625%
Redemption price (as a percent)	100.00%

DEBT - Revolving Credit Facilit

DEBT - Revolving Credit Facility - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017USD ($)fiscal_quarter	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Revolving credit facility	$ 0	$ 0
Revolving Credit Facility | Restated Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	$ 500,000,000
Maximum capitalization ratio	60.00%
Minimum consolidated tangible net worth requirement	$ 1,600,000,000
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 ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Amount Drawn	$ 61,292,000	$ 198,564,000
Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn	61,292,000	198,564,000
Facility Amount	170,000,000	265,000,000
Mortgage borrowings outstanding, collateralized amount	107,700,000	233,200,000
Collateralized amount of restricted short-term investments	1,300,000	1,600,000
Secured Debt | Flagstar
Line of Credit Facility [Line Items]
Amount Drawn	2,703,000	37,093,000
Facility Amount	$ 20,000,000	$ 55,000,000
Expiration Date	30 days	30 days
Secured Debt | Flagstar | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	2.50%	2.50%
Secured Debt | Comerica
Line of Credit Facility [Line Items]
Amount Drawn	$ 23,290,000	$ 57,875,000
Facility Amount	$ 50,000,000	$ 85,000,000
Secured Debt | Comerica | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	2.25%	2.25%
Secured Debt | J.P. Morgan
Line of Credit Facility [Line Items]
Amount Drawn	$ 35,299,000	$ 103,596,000
Facility Amount	$ 100,000,000	$ 125,000,000
Secured Debt | J.P. Morgan | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	2.375%
Secured Debt | J.P. Morgan | LIBOR | Minimum
Line of Credit Facility [Line Items]
Interest Rate		2.375%
Secured Debt | J.P. Morgan | LIBOR | Maximum
Line of Credit Facility [Line Items]
Interest Rate		2.50%

DEBT - Loans Payable and Other

DEBT - Loans Payable and Other Borrowings - Additional Information (Detail) - Loans Payables	Sep. 30, 2017	Dec. 31, 2016
Minimum
Debt Instrument [Line Items]
Interest rate on loans payable	0.00%	0.00%
Maximum
Debt Instrument [Line Items]
Interest rate on loans payable	8.00%	8.00%

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Value and Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Mar. 05, 2014	Apr. 16, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 2,037	$ 2,291
Senior Notes | 5.25% Senior Notes due 2021, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	5.25%			5.25%
Senior Notes | 5.875% Senior Notes due 2023, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	5.875%
Senior Notes | 5.625% Senior Notes due 2024, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate of senior notes	5.625%		5.625%
Level 2 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	$ 107,665	233,184
Derivative assets	2,037	2,291
Level 2 | Carrying Value | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	0
Level 2 | Carrying Value | Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	61,292	198,564
Level 2 | Carrying Value | Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	161,798	150,485
Level 2 | Carrying Value | Senior Notes | 5.25% Senior Notes due 2021, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	545,808	544,911
Level 2 | Carrying Value | Senior Notes | 5.875% Senior Notes due 2023, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	346,857	346,431
Level 2 | Carrying Value | Senior Notes | 5.625% Senior Notes due 2024, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	346,546	346,142
Level 2 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	107,665	233,184
Derivative assets	2,037	2,291
Level 2 | Estimated Fair Value | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	0
Level 2 | Estimated Fair Value | Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	61,292	198,564
Level 2 | Estimated Fair Value | Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	161,798	150,485
Level 2 | Estimated Fair Value | Senior Notes | 5.25% Senior Notes due 2021, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	564,465	563,750
Level 2 | Estimated Fair Value | Senior Notes | 5.875% Senior Notes due 2023, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	371,000	355,250
Level 2 | Estimated Fair Value | Senior Notes | 5.625% Senior Notes due 2024, unsecured
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	364,000	353,500
Level 3 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	5,358	17,200
Level 3 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	$ 5,358	$ 17,200

FAIR VALUE DISCLOSURES - Nonrec

FAIR VALUE DISCLOSURES - Nonrecurring Basis (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Inventory Write-down	$ 3,500
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Inventories	$ 3,778

INCOME TAXES (Detail)

INCOME TAXES (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax [Line Items]
Effective tax rate	30.70%	35.10%	31.00%	33.80%
Potential interest and penalties accrued	$ 0.9		$ 0.9		$ 0.4
Domestic
Income Tax [Line Items]
Gross cumulative unrecognized tax benefits	$ 12.9		$ 12.9		$ 7.8

STOCKHOLDERS_ EQUITY - Addition

STOCKHOLDERS’ EQUITY - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2017USD ($)voteshares	Sep. 30, 2016USD ($)shares	Sep. 18, 2017USD ($)
Class of Stock [Line Items]
Repurchase of common stock			$ 4,098,000
Class A Common Stock
Class of Stock [Line Items]
Voting rights per share | vote			1
Authorized amount for Stock Repurchase Program					$ 100,000,000
Repurchase of common stock (in shares) | shares	195,824	247,366	195,824	1,918,999
Repurchase of common stock	$ 4,100,000	$ 3,800,000	$ 4,100,000	$ 28,500,000
Remaining amount authorized for repurchase	$ 95,900,000		$ 95,900,000
Class B Common Stock
Class of Stock [Line Items]
Voting rights per share | vote			1

STOCKHOLDERS_ EQUITY - Summary

STOCKHOLDERS’ EQUITY - Summary of Class A Common Stock (Details) - Class A Common Stock - $ / shares shares in Thousands	Jun. 27, 2017	May 05, 2017	Mar. 27, 2017	Feb. 06, 2017
Class of Stock [Line Items]
Number of shares (in shares)	10,000	10,000	10,000	11,500
Net purchase price per share (usd per share)	$ 23.30	$ 23.12	$ 20.78	$ 18.2875

STOCKHOLDERS_ EQUITY - Componen

STOCKHOLDERS’ EQUITY - Components and Voting Power of Outstanding Common Stock (Detail) - shares	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Shares Outstanding	119,556,426
Percentage	100.00%
Class A Common Stock
Class of Stock [Line Items]
Shares Outstanding	72,307,299	30,486,858
Percentage	60.50%
Class B Common Stock
Class of Stock [Line Items]
Shares Outstanding	47,249,127	88,942,052
Percentage	39.50%

STOCK BASED COMPENSATION - Addi

STOCK BASED COMPENSATION - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Apr. 09, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation	$ 23.4	$ 18.8
Number of shares issued for each share of Class B Common Stock and TMM Unit converted (in shares)	1		1
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of units vested	33.00%
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
2013 Omnibus Equity Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate common stock available for future grants (in shares)	8,989,860

STOCK BASED COMPENSATION - Summ

STOCK BASED COMPENSATION - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 3,377	$ 3,042	$ 10,227	$ 8,959
New TMM units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	58	176	571	937
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	1,162	1,056	3,308	3,074
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock compensation	$ 2,157	$ 1,810	$ 6,348	$ 4,948

STOCK BASED COMPENSATION - Su68

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	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Shares
Beginning balance (in shares) | shares	1,358,701
Granted (in shares) | shares	647,354
Vested (in shares) | shares	(78,221)
Forfeited (in shares) | shares	(53,892)
Ending balance (in shares) | shares	1,873,942
Weighted Average Grant Date Fair Value
Outstanding, Beginning balance (usd per share) | $ / shares	$ 13.39
Granted (usd per share) | $ / shares	18.06
Vested (usd per share) | $ / shares	17.43
Forfeited (usd per share) | $ / shares	13.95
Outstanding, Ending balance (usd per share) | $ / shares	$ 14.82

STOCK BASED COMPENSATION - Su69

STOCK BASED COMPENSATION - Summary of Stock Option Plan (Detail)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Shares
Outstanding, Beginning balance (in shares) | shares	2,431,347
Granted (in shares) | shares	790,651
Exercised (in shares) | shares	(265,167)
Canceled/Forfeited (in shares) | shares	(74,811)
Outstanding, Ending balance (in shares) | shares	2,882,020
Options exercisable (in shares) | shares	933,259
Weighted Average Exercise Price Per Share
Outstanding, Beginning balance (usd per share) | $ / shares	$ 17.09
Granted (usd per share) | $ / shares	19.05
Exercised (usd per share) | $ / shares	18.07
Canceled/Forfeited (usd per share) | $ / shares	18.01
Outstanding, Ending balance (usd per share) | $ / shares	17.52
Options exercisable (usd per share) | $ / shares	$ 19.63

STOCK BASED COMPENSATION - Su70

STOCK BASED COMPENSATION - Summary of Class B/New TMM Unit Activity (Detail) - Class B Shares/New TMM Units	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Shares/New TMM Units
Beginning balance (in shares)	1,146,357
Exchanges (in shares)	(191,333)
Forfeited (in shares)	(1,592)
Ending balance (in shares)	953,432
Weighted Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 5.58
Exchanges (usd per share) | $ / shares	5.36
Forfeited (usd per share) | $ / shares	8.52
Ending balance (usd per share) | $ / shares	$ 5.62
Number of units vested and not sold (in shares)	931,462

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)Lot	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016Lot
Related Party Transaction [Line Items]
Number of home lots (in lot) | Lot	27,169			27,986
Affiliates
Related Party Transaction [Line Items]
Real estate inventory acquisitions from affiliates | $		$ 0	$ 0
Contract to purchase home lots | Company owned and controlled by a member of the Board of Directors
Related Party Transaction [Line Items]
Number of home lots (in lot) | Lot	140
Payments to acquire home lots | $	$ 30,000,000

ACCUMULATED OTHER COMPREHENSI72

ACCUMULATED OTHER COMPREHENSIVE INCOME (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period			$ 2,160,202
Other comprehensive income before reclassifications				$ (447)
Other comprehensive loss, net of tax	$ 0	$ 0	0	(447)
Gross amounts reclassified within accumulated other comprehensive income			0	329
Balance, end of period	2,314,650		2,314,650
Total Post- Retirement Benefits Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period			2,061	2,305
Other comprehensive income before reclassifications				(447)
Other comprehensive loss, net of tax				(447)
Gross amounts reclassified within accumulated other comprehensive income			0	0
Balance, end of period	2,061	1,858	2,061	1,858
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period			(79,927)	(79,927)
Other comprehensive income before reclassifications				0
Other comprehensive loss, net of tax				0
Gross amounts reclassified within accumulated other comprehensive income			27,968	0
Balance, end of period	(51,959)	(79,927)	(51,959)	(79,927)
Non-controlling Interest - Principal Equityholders Reclassification
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period			59,877	59,625
Other comprehensive income before reclassifications				0
Other comprehensive loss, net of tax				0
Gross amounts reclassified within accumulated other comprehensive income			(27,968)	329
Balance, end of period	31,909	59,954	31,909	59,954
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period			(17,989)	(17,997)
Balance, end of period	$ (17,989)	$ (18,115)	$ (17,989)	$ (18,115)

REPORTING SEGMENTS - Reconcilia

REPORTING SEGMENTS - Reconciliation to Net Income (Loss) (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Segment	Sep. 30, 2016USD ($)
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Number of reporting segments included in operating component | Segment			3
Total revenues	$ 908,027	$ 853,417	$ 2,585,611	$ 2,353,062
Gross margin	171,318	178,854	484,431	457,247
Selling, general and administrative expenses	(94,850)	(88,221)	(279,005)	(256,378)
Equity in income of unconsolidated entities	2,787	1,646	6,943	4,734
Interest and other (expense)/income, net	(280)	(1,888)	(514)	(8,453)
Income/(loss) before income taxes	78,975	90,391	211,855	197,150
Operating Segments | East
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	312,539	288,639	896,258	737,550
Gross margin	63,188	70,026	185,534	161,437
Selling, general and administrative expenses	(28,469)	(26,866)	(84,975)	(76,027)
Equity in income of unconsolidated entities	0	132	0	440
Interest and other (expense)/income, net	(7)	(1,260)	(220)	(3,821)
Income/(loss) before income taxes	34,712	42,032	100,339	82,029
Operating Segments | Central
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	256,842	273,095	730,659	767,825
Gross margin	47,797	51,267	133,418	138,647
Selling, general and administrative expenses	(25,108)	(24,842)	(72,533)	(71,727)
Equity in income of unconsolidated entities	693	331	751	110
Interest and other (expense)/income, net	(87)	(1,148)	171	(3,140)
Income/(loss) before income taxes	23,295	25,608	61,807	63,890
Operating Segments | West
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	321,167	277,869	911,332	810,736
Gross margin	54,924	51,624	148,991	142,806
Selling, general and administrative expenses	(19,087)	(18,507)	(56,994)	(54,276)
Equity in income of unconsolidated entities	924	319	1,526	1,303
Interest and other (expense)/income, net	46	162	(146)	(250)
Income/(loss) before income taxes	36,807	33,598	93,377	89,583
Operating Segments | Mortgage Operations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	17,479	13,814	47,362	36,951
Gross margin	5,409	5,937	16,488	14,357
Selling, general and administrative expenses	0	0	0	0
Equity in income of unconsolidated entities	1,170	864	4,666	2,881
Interest and other (expense)/income, net	0	4	0	14
Income/(loss) before income taxes	6,579	6,805	21,154	17,252
Corporate and Unallocated
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	(22,186)	(18,006)	(64,503)	(54,348)
Equity in income of unconsolidated entities	0	0	0	0
Interest and other (expense)/income, net	(232)	354	(319)	(1,256)
Income/(loss) before income taxes	$ (22,418)	$ (17,652)	$ (64,822)	$ (55,604)

REPORTING SEGMENTS - Assets fro

REPORTING SEGMENTS - Assets from Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 3,294,650	$ 3,054,452
Investments in unconsolidated entities	184,817	157,909
Other assets	837,861	1,008,565
Total assets	4,317,328	4,220,926
Operating Segments | East
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,236,731	1,110,340
Investments in unconsolidated entities	27,593	25,923
Other assets	58,004	80,320
Total assets	1,322,328	1,216,583
Operating Segments | Central
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	906,024	829,354
Investments in unconsolidated entities	32,695	30,146
Other assets	126,162	139,383
Total assets	1,064,881	998,883
Operating Segments | West
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,151,895	1,114,758
Investments in unconsolidated entities	120,914	98,625
Other assets	51,277	43,304
Total assets	1,324,086	1,256,687
Operating Segments | Mortgage Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	3,615	3,215
Other assets	153,728	269,131
Total assets	157,343	272,346
Corporate and Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	0	0
Other assets	448,690	476,427
Total assets	$ 448,690	$ 476,427

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds	$ 317.8	$ 302.8
Legal accruals	$ 2.7	$ 4.4

MORTGAGE HEDGING ACTIVITIES (De

MORTGAGE HEDGING ACTIVITIES (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Derivative [Line Items]
Fair Value	$ 2,037	$ 2,291
Exposure to collectibility of receivables if not sold to an investor
Derivative [Line Items]
Total commitments to extend credit	119,700
IRLCs
Derivative [Line Items]
Fair Value	1,752	1,987
Notional Amount	75,739	61,655
MBSs
Derivative [Line Items]
Fair Value	285	304
Notional Amount	$ 101,000	$ 97,000
Minimum
Derivative [Line Items]
Derivative term	30 days
Maximum
Derivative [Line Items]
Derivative term	60 days

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - South Carolina - Subsequent Event $ in Millions	Oct. 12, 2017USD ($)a
Subsequent Event [Line Items]
Acres of land purchased | a	112
Payments to acquire land | $	$ 10.5