Taylor Morrison Home (TMHC) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-35873
Entity Registrant Name	TAYLOR MORRISON HOME CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2026677
Entity Address, Address Line One	4900 N. Scottsdale Road, Suite 2000
Entity Address, Postal Zip Code	85251
Entity Address, City or Town	Scottsdale,
Entity Address, State or Province	AZ
City Area Code	480
Local Phone Number	840-8100
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	TMHC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,308,951
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001562476
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 196,529	$ 329,645
Restricted cash	1,698	2,214
Total cash, cash equivalents, and restricted cash	198,227	331,859
Owned inventory	4,073,123	3,965,306
Real estate not owned	30,464	15,259
Total real estate inventory	4,103,587	3,980,565
Land deposits	54,214	57,929
Mortgage loans held for sale	124,805	181,897
Derivative assets	3,055	1,838
Operating lease right of use assets	33,399	0
Prepaid expenses and other assets, net	79,794	98,225
Other receivables, net	68,500	86,587
Investments in unconsolidated entities	129,518	140,541
Deferred tax assets, net	145,076	145,076
Property and equipment, net	84,630	86,736
Intangible assets, net	851	1,072
Goodwill	152,116	152,116
Total assets	5,177,772	5,264,441
Liabilities
Accounts payable	162,055	151,586
Accrued expenses and other liabilities	242,712	266,686
Operating lease liabilities	36,590	0
Income taxes payable	1,272	0
Customer deposits	172,951	165,432
Estimated development liability	36,883	37,147
Senior notes, net	1,599,239	1,653,746
Loans payable and other borrowings	212,897	225,497
Revolving credit facility borrowings	200,000	200,000
Mortgage warehouse borrowings	79,458	130,353
Liabilities attributable to real estate not owned	30,464	15,259
Total liabilities	2,774,521	2,845,706
COMMITMENTS AND CONTINGENCIES (Note 16)
Stockholders’ Equity
Common stock	1	1
Preferred stock, $0.00001 par value, 50,000,000 shares authorized, no shares issued and outstanding as of June 30, 2019 and December 31, 2018	0	0
Additional paid-in capital	2,079,224	2,071,579
Treasury stock at cost, 19,943,432 and 11,554,084 shares as of June 30, 2019 and December 31, 2018, respectively	(343,526)	(186,087)
Retained earnings	660,680	527,698
Accumulated other comprehensive income	2,285	2,001
Total stockholders’ equity attributable to Taylor Morrison Home Corporation	2,398,664	2,415,192
Non-controlling interests – joint ventures	4,587	3,543
Total stockholders’ equity	2,403,251	2,418,735
Total liabilities and stockholders’ equity	$ 5,177,772	$ 5,264,441

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
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, 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)	125,127,956	124,519,942
Common stock, shares outstanding (in shares)	105,184,522	112,965,856
Treasury stock, shares held (in shares)	19,943,432	11,554,084

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Financial services revenue	$ 22,819	$ 16,266	$ 38,863	$ 30,472
Total revenue	1,265,426	980,828	2,190,518	1,733,161
Financial services expenses	13,045	11,152	23,766	21,196
Total cost of revenue	1,031,652	802,117	1,784,704	1,411,348
Gross margin	233,774	178,711	405,814	321,813
Sales, commissions and other marketing costs	82,615	64,604	150,044	118,302
General and administrative expenses	42,202	35,461	78,656	68,778
Equity in income of unconsolidated entities	(3,561)	(4,017)	(5,880)	(7,263)
Interest income, net	(958)	(276)	(1,291)	(619)
Other expense/(income), net	(489)	3,654	(1,881)	4,092
Amortization of Acquisition Costs	1,750	0	5,879	0
Transaction expenses	2,196	0	2,196
Income/(loss) before income taxes	110,019	79,285	178,091	138,523
Income tax provision	28,131	19,993	44,922	31,699
Net income before allocation to non-controlling interests	81,888	59,292	133,169	106,824
Net income attributable to non-controlling interests — joint ventures	(37)	(140)	(187)	(269)
Net income before non-controlling interests	81,851	59,152	132,982	106,555
Net income attributable to non-controlling interests	0	(474)	0	(3,133)
Net income available to Taylor Morrison Home Corporation	$ 81,851	$ 58,678	$ 132,982	$ 103,422
Earnings per common share
Basic (usd per share)	$ 0.77	$ 0.53	$ 1.23	$ 0.94
Diluted (usd per share)	$ 0.76	$ 0.52	$ 1.21	$ 0.93
Weighted average number of shares of common stock:
Basic (in shares)	106,238	111,347	108,363	110,508
Diluted (in shares)	107,232	113,482	109,479	115,400
Home closings
Revenue	$ 1,232,261	$ 956,565	$ 2,132,142	$ 1,689,524
Cost of home/land closings	1,010,069	784,521	1,745,866	1,379,427
Land closings
Revenue	5,858	7,997	9,971	13,165
Cost of home/land closings	3,792	6,444	6,484	10,725
Amenity
Revenue	4,488	0	9,542	0
Cost of home/land closings	$ 4,746	$ 0	$ 8,588	$ 0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income before non-controlling interests, net of tax	$ 81,888	$ 59,292	$ 133,169	$ 106,824
Post-retirement benefits adjustments, net of tax	0	0	(284)	0
Comprehensive income	81,888	59,292	132,885	106,824
Comprehensive (income) loss attributable to non-controlling interests	0	(474)	0	(3,133)
Comprehensive income available to Taylor Morrison Home Corporation	81,851	58,678	132,698	103,422
Joint Ventures
Comprehensive (income) loss attributable to non-controlling interests	$ (37)	$ (140)	$ (187)	$ (269)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income	Non-controlling Interest	Non-controlling InterestCorporate Joint Venture	Non-controlling InterestPartnership Interest	Class A Common Stock	Class A Common StockCommon Stock	Class B Common StockCommon Stock
Balance, beginning of period ( in shares ) at Dec. 31, 2017				3,049,257							82,399,996	37,179,616
Balance, beginning of period at Dec. 31, 2017	$ 2,346,545		$ 1,341,873	$ (47,622)	$ 319,833	$ (17,968)		$ 1,663	$ 748,765		$ 1	$ 0
Increase (Decrease) in Stockholders' Equity
Net income	106,824				103,422			269	3,133
Other comprehensive income	0
Exchange of New TMM Units and corresponding number of Class B Common Stock ( in shares )											(20,487)	(20,487)
Exchange of New TMM Units and corresponding number of Class B Common Stock	0		1,293						(1,293)
TMHC repurchase and cancellation of New TMM Units from Former Principal Equityholders (in shares )												(7,588,771)
TMHC repurchase and cancellation of New TMM Units from Former Principal Equityholders	(201,775)		(201,775)
Exercise of stock options ( in shares )											98,270
Exercise of stock options	1,588		1,588
Issuance of restricted stock units, net of shares withheld for tax ( in shares )											161,547
Repurchase of New TMM Units from principal equityholders	(1,491)		(1,491)
Exchange of B shares from public offerings (in shares)											28,706,924
Exchange of B shares from public offerings	729,954		729,954
Repurchase of Class A common stock ( in shares )										7,588,771
Repurchase of common stock	(100,000)
Repurchase of New TMM Units from Former Principal Equityholders ( in shares )												(28,706,924)
Repurchase of New TMM Units from Former Principal Equityholders	(730,963)								(730,963)
Share based compensation	6,290		6,026						264
Changes in non-controlling interests of consolidated joint ventures	(573)							(573)
Balance, end of period ( in shares ) at Jun. 30, 2018				3,049,257							111,387,224	863,434
Balance, end of period at Jun. 30, 2018	2,258,382		1,877,468	$ (47,622)	425,238	(17,968)		1,359	19,906		$ 1	$ 0
Balance, beginning of period ( in shares ) at Mar. 31, 2018				3,049,257							111,308,197	868,921
Balance, beginning of period at Mar. 31, 2018	2,195,630		1,873,932	$ (47,622)	366,749	(17,968)	$ 19,191	1,347			$ 1	$ 0
Increase (Decrease) in Stockholders' Equity
Net income	59,292				58,489			140	663
Exchange of New TMM Units and corresponding number of Class B Common Stock ( in shares )											(5,487)	(5,487)
Exchange of New TMM Units and corresponding number of Class B Common Stock	0		28						(28)
Exercise of stock options ( in shares )											61,210
Exercise of stock options	1,008		1,008
Issuance of restricted stock units, net of shares withheld for tax ( in shares )											12,330
Repurchase of New TMM Units from principal equityholders	(9)		(9)
Exchange of B shares from public offerings (in shares)											0
Exchange of B shares from public offerings	(158)		(158)
Repurchase of common stock	0
Share based compensation	2,747		2,667						80
Changes in non-controlling interests of consolidated joint ventures	(128)							(128)
Balance, end of period ( in shares ) at Jun. 30, 2018				3,049,257							111,387,224	863,434
Balance, end of period at Jun. 30, 2018	2,258,382		1,877,468	$ (47,622)	425,238	(17,968)		1,359	$ 19,906		$ 1	$ 0
Balance, beginning of period ( in shares ) at Dec. 31, 2018		112,965,856		11,554,084
Balance, beginning of period at Dec. 31, 2018	2,418,735	$ 1	2,071,579	$ (186,087)	527,698	2,001		3,543
Increase (Decrease) in Stockholders' Equity
Net income	133,169				132,982			187
Other comprehensive income	284					284
Exercise of stock options ( in shares )		119,356
Exercise of stock options	1,905		1,905
Issuance of restricted stock units, net of shares withheld for tax ( in shares )		488,658
Repurchase of New TMM Units from principal equityholders	$ (1,503)		(1,503)
Repurchase of Class A common stock ( in shares )	8,389,348	(8,389,348)		8,389,348
Repurchase of common stock	$ (157,439)			$ (157,439)
Stock Compensation Expense	7,243		7,243
Distributions to non-controlling interests of consolidated joint ventures	(17)							(17)
Changes in non-controlling interests of consolidated joint ventures	874							874
Balance, end of period ( in shares ) at Jun. 30, 2019		105,184,522		19,943,432
Balance, end of period at Jun. 30, 2019	2,403,251	$ 1	2,079,224	$ (343,526)	660,680	2,285		4,587
Balance, beginning of period ( in shares ) at Mar. 31, 2019		109,066,720		15,930,963
Balance, beginning of period at Mar. 31, 2019	2,395,312	$ 1	2,073,542	$ (263,926)	578,829	2,285		4,581
Increase (Decrease) in Stockholders' Equity
Net income	81,888				81,851			37
Exercise of stock options ( in shares )		116,180
Exercise of stock options	1,866		1,866
Issuance of restricted stock units, net of shares withheld for tax ( in shares )		14,091
Repurchase of New TMM Units from principal equityholders	$ (10)		(10)
Repurchase of Class A common stock ( in shares )	4,012,469	(4,012,469)		4,012,469
Repurchase of common stock	$ (79,600)			$ (79,600)
Stock Compensation Expense	3,826		3,826
Changes in non-controlling interests of consolidated joint ventures	(31)							(31)
Balance, end of period ( in shares ) at Jun. 30, 2019		105,184,522		19,943,432
Balance, end of period at Jun. 30, 2019	$ 2,403,251	$ 1	$ 2,079,224	$ (343,526)	$ 660,680	$ 2,285		$ 4,587

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before allocation to non-controlling interests	$ 133,169	$ 106,824
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:
Equity in income of unconsolidated entities	(5,880)	(7,263)
Stock compensation expense	7,243	6,290
Loss on extinguishment of debt	2,196	0
Distributions of earnings from unconsolidated entities	6,316	3,298
Depreciation and amortization	14,354	11,306
Operating lease expense	4,377	0
Debt issuance costs/premium amortization	(181)	1,652
Contingent consideration	0	146
Deferred income taxes	0	246
Changes in operating assets and liabilities:
Real estate inventory and land deposits	(104,102)	(228,278)
Mortgages held for sale, prepaid expenses and other assets	54,185	74,094
Customer deposits	7,519	59,364
Accounts payable, accrued expenses and other liabilities	25,206	(27,119)
Income taxes payable	1,272	9,929
Net cash provided by operating activities	145,674	10,489
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(12,027)	(8,593)
Distributions of capital from unconsolidated entities	15,702	9,965
Investments of capital into unconsolidated entities	(5,115)	(3,368)
Net cash used in investing activities	(1,440)	(1,996)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in loans payable and other borrowings	5,147	18,304
Repayments of loans payable and other borrowings	(19,847)	(8,350)
Borrowings on revolving credit facility	95,000	0
Repayments on revolving credit facility	(95,000)	0
Borrowings on mortgage warehouse	489,694	311,880
Repayment on mortgage warehouse	(540,589)	(380,884)
Proceeds from the issuance of senior notes	493,909	0
Repayments on senior notes	(550,000)	0
Payment of contingent consideration	0	(265)
Proceeds from stock option exercises	1,905	1,588
Proceeds from issuance of shares from public offerings	0	767,116
TMHC repurchase and cancellation of New TMM Units from Former Principal Equityholders	0	(201,775)
Repurchase of shares from Former Principal Equityholders	0	(768,125)
Repurchase of common stock, net	(157,439)	0
Payment of taxes related to net share settlement of equity awards	(1,503)	(1,491)
Changes and distributions to non-controlling interests of consolidated joint ventures, net	857	(573)
Net cash used in financing activities	(277,866)	(262,575)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(133,632)	(254,082)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	331,859	575,503
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period	198,227	321,421
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net	(3,631)	(21,525)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Change in loans payable issued to sellers in connection with land purchase contracts	53,237	24,279
Change in inventory not owned	15,205	(1,065)
Change in Prepaid expenses and other assets, net due to adoption of ASU 2014-09	0	(32,004)
Change in Property and equipment, net due to adoption of ASU 2014-09	0	32,004
Operating lease right of use assets	33,399
Beginning Operating lease right of use liabilities due to adoption of ASU 2016-02	$ 30,331	$ 0

BUSINESS - (Notes)

BUSINESS - (Notes)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Organization and Description of the Business — Taylor Morrison Home Corporation “TMHC” through its subsidiaries (together with TMHC referred to herein as “we,” “our,” “the Company” and “us”), owns and operates a residential homebuilding business and is a developer of lifestyle communities. As of June 30, 2019 , we operated in the states of Arizona, California, Colorado, Florida, Georgia, Illinois, North and South Carolina, and Texas. Our Company serves a wide array of consumer groups from coast to coast, including first time, move-up, luxury, and active adult. Our homebuilding segments operate under our Taylor Morrison and Darling Homes brand names. Our business is organized into multiple homebuilding operating components, and a financial services component, all of which are managed as four reportable segments: East, Central, West, and Financial Services. The communities in our homebuilding segments offer single and multi-family attached and detached homes. We are the general contractors for all real estate projects and retain subcontractors for home construction and land development. Our Financial Services 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”).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Notes)	6 Months Ended
	Jun. 30, 2019
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 Annual Report on Form 10-K for the year ended December 31, 2018 (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. Non-controlling interests - During the first quarter of 2018, we completed multiple offerings of our Class A Common Stock in registered public offerings and used all of the net proceeds from the public offerings to purchase partnership units in New TMM (“New TMM Units”) along with shares of our Class B Common Stock, held by TPG and Oaktree. In addition on October 26, 2018, in connection with our reorganization transactions, all Class B common shares were converted to Class A common shares and subsequently retired. The percentage of the Former Principal Equityholders net income is presented as “Net income attributable to non-controlling interests - Former Principal Equityholders” on the Consolidated Statements of Operations. Non-controlling interests - Joint Ventures - We consolidate certain joint ventures in accordance with Accounting Standards Codification (“ASC”) Topic 810, “ Consolidation. ” The income from the percentage of the joint venture not owned by us is presented as “Net income attributable to non-controlling interests - joint ventures” on the Condensed Consolidated Statements of Operations. 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. Real Estate Inventory — Inventory consists of raw land, land under development, homes under construction, completed homes, and model homes, all of which are stated at cost. In addition to direct carrying costs, we also capitalize interest, real estate taxes, and related development costs that benefit the entire community, such as field construction supervision and related direct overhead. Home vertical construction costs are accumulated and charged to cost of sales at the time of home closing using the specific identification method. Land acquisition, development, interest, real estate taxes and overhead are allocated to homes and units using the relative sales value method. These costs are capitalized to inventory from the point development begins to the point construction is completed. Changes in estimated costs to be incurred in a community are generally allocated to the remaining lots on a prospective basis. For those communities that have been temporarily closed or development has been discontinued, we do not allocate interest or other costs to the community’s inventory until activity resumes. Such costs are expensed as incurred. We capitalize qualifying interest costs to inventory during the development and construction periods. Capitalized interest is charged to cost of sales when the related inventory is charged to cost of sales. We assess the recoverability of our 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 date. Our determination of fair value is primarily 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 six months ended June 30, 2019 and 2018 , no impairment charges were recorded. In certain cases, we may elect to cease development and/or marketing of an existing community if we believe the economic performance of the community would be maximized by deferring development for a period of time to allow for market conditions to improve. We refer to such communities as long-term strategic assets. The decision may be based on financial and/or operational metrics as determined by us. If we decide to cease development, we will evaluate the project for impairment and then cease future development and marketing activity until such a time when we believe that market conditions have improved and economic performance can be maximized. Our assessment of the carrying value of our long-term strategic assets typically includes subjective estimates of future performance, including the timing of when development will recommence, the type of product to be offered, and the margin to be realized. In the future, some of these inactive communities may be re-opened while others may be sold. As of June 30, 2019 and December 31, 2018 we had no inactive projects. In the ordinary course of business, we enter into various specific performance agreements to acquire lots. Real estate not owned under these agreements is reflected in Real estate not owned with a corresponding liability in Liabilities attributable to real estate not owned in the Condensed Consolidated Balance Sheets. 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 six months ended June 30, 2019 and 2018 . Leases — We adopted Accounting Standards Update (“ASU”) No. 2016-02— Leases (Topic 842), as amended, on January 1, 2019, using the modified retrospective approach. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification. We also elected the hindsight practical expedient to determine the lease term for existing leases. Our leases primarily consist of office space, construction trailers, model leasebacks, and equipment or storage units. Certain of our leases offer the option to renew or to increase rental square footage. The execution of such options are at our discretion and may result in a lease modification. Adoption of the new standard resulted in the recording of an opening balance of Operating lease right of use assets and Operating lease liabilities of approximately $27.4 million and $30.3 million , respectively. The weighted average discount rate used in determining our operating lease liabilities is 5.795% . Payments on the lease liabilities for the three and six months ended June 30, 2019 were approximately $2.2 million and $4.3 million , respectively. For the three and six months ended June 30, 2019 , we recorded lease expense of approximately $2.3 million and $4.4 million , respectively, within General and administrative expenses on our condensed consolidated statement of operations. The future minimum lease payments required under our leases as of June 30, 2019 are as follows (dollars in thousands): Years Ending December 31, Lease Payments (1) 2019 (1) $ 4,748 2020 8,663 2021 7,650 2022 6,259 2023 5,680 Thereafter 10,352 Total lease payments $ 43,352 Less: Interest $ 6,762 Present value of lease liabilities. $ 36,590 (1) Represents lease payments for the period beginning July 1, 2019 through December 31, 2019. Revenue Recognition Topic 606 We recognize revenue in accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09” or “Topic 606”). The standard's core principle requires an entity to 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. Home and land closings revenue Under Topic 606, the following steps are applied to determine the proper home closings revenue and land closings revenue recognition: (1) we identify the contract(s) with our customer; (2) we identify the performance obligations in the contract; (3) we determine the transaction price; (4) we allocate the transaction price to the performance obligations in the contract; and (5) we recognize revenue when (or as) we satisfy the performance obligation. For our home sales transactions, we have one contract, with one performance obligation, with each customer to build and deliver the home purchased (or develop and deliver land). Based on the application of the five steps, the following summarizes the timing and manner of home and land sales revenue: • Revenue from closings of residential real estate is recognized when closings have occurred, the buyer has made the required minimum down payment, obtained necessary financing, the risks and rewards of ownership are transferred to the buyer, and we have no continuing involvement with the property, which is generally upon the close of escrow. Revenue is reported net of any discounts and incentives. • Revenue from land sales is recognized when a significant down payment is received, title passes and collectability of the receivable is reasonably assured, and we have no continuing involvement with the property, which is generally upon the close of escrow. Amenity and other revenue We own and operate certain amenities pursuant to recorded mandatory club plans, which require us to provide club members with access to amenity facilities in exchange for the payment of club dues. We collect club dues and other fees from the club members, which are billed on a monthly basis. Revenue from our golf club operations is also included in amenity revenue. Financial services revenue Mortgage operations and hedging activity related to financial services are not within the scope of Topic 606. Loan origination fees (including title fees, points, and 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.

BUSINESS COMBINATIONS - (Notes)

BUSINESS COMBINATIONS - (Notes)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Business Combinations	BUSINESS COMBINATIONS In accordance with ASC Topic 805 , Business Combinations , all material assets acquired and liabilities assumed from our acquisition of AV Homes, Inc. ("AV Homes") on October 2, 2018 were measured and recognized at fair value as of the date of the acquisition to reflect the purchase price paid. We determined the estimated fair value of real estate inventory primarily using the sales comparison and income approaches. To a certain extent, certain inventory was valued using third party appraisals and/or market comparisons. 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. These estimated cash flows and ultimate valuation are significantly affected by the discount rate, estimates related to expected average selling prices and sales incentives, expected sales paces and cancellation rates, expected land development and construction timelines, and anticipated land development, construction, overhead costs and may vary significantly between communities. We performed a preliminary allocation of purchase price as of the acquisition date. The following is a summary of the fair value of assets acquired and liabilities assumed. (Dollars in thousands) AV Homes Acquisition Date October 2, 2018 Assets acquired Real estate inventory $ 778,174 Prepaid expenses and other assets (1) 106,612 Deferred tax assets, net 71,411 Property and equipment 50,996 Goodwill (2) 85,918 Total assets $ 1,093,111 Less liabilities assumed Accrued expenses and other liabilities $ 94,308 Customer deposits 14,130 Estimated development liability (3) 37,230 Senior notes, net 412,520 Net assets acquired $ 534,923 (1) Includes cash acquired. (2) Goodwill is not deductible for tax purposes. We allocated $45.1 million of goodwill to the East homebuilding segment, $30.3 million to the Central homebuilding segment, and $10.5 million to the West homebuilding segment. (3) See Note 8 - Estimated Development Liability Unaudited Pro Forma Results of Business Combinations The following unaudited pro forma information for the periods presented include the results of operations of our acquisition of AV Homes as if it had been completed on January 1 in the year prior to the acquisition year. The pro forma results are presented for informational purposes only and do not purport to be indicative of the results of operations or future results that would have been achieved if the acquisition had taken place one year prior to the acquisition year. The pro forma information combines the historical results of the Company with the historical results of AV Homes for the periods presented. The unaudited pro forma results do not give effect to any synergies, operating efficiencies, other costs savings that may result from the acquisitions, or other significant non-reoccurring expenses or transactions that do not have a continuing impact. Earnings per share utilizes net income and total weighted average shares of common stock. The pro forma amounts are based on available information and certain assumptions that we believe are reasonable. For the three months ended June 30, For the six months ended June 30, (Dollars in thousands except per share data) 2019 (As reported) 2018 (Pro forma) 2019 2018 Total revenues $ 1,265,426 $ 1,184,388 $ 2,190,518 $ 2,088,729 Net income $ 81,888 $ 62,291 $ 133,169 $ 107,480 Net income attributable to non-controlling interests — joint ventures (37 ) (140 ) (187 ) (269 ) Net income attributable to non-controlling interest - Former Principal Equityholders — (474 ) — (3,133 ) Net income available to TMHC - Basic $ 81,851 $ 61,677 $ 132,982 $ 104,078 Net income attributable to non-controlling interest - Former Principal Equityholders — 474 — 3,133 Loss fully attributable to public holding company — 84 — 248 Net income - Diluted $ 81,851 $ 62,235 $ 132,982 $ 107,459 Weighted average shares - Basic 106,238 120,471 108,363 119,380 Weighted average shares - Diluted 107,232 122,606 109,479 124,272 Earnings per share - Basic $ 0.77 $ 0.51 $ 1.23 $ 0.87 Earnings per share - Diluted $ 0.76 $ 0.51 $ 1.21 $ 0.86

EARNINGS PER SHARE - (Notes)

EARNINGS PER SHARE - (Notes)	6 Months Ended
	Jun. 30, 2019
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 Common Stock outstanding during the period. Diluted earnings per share gives effect to the potential dilution that could occur if all outstanding dilutive equity awards to issue shares of 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 June 30, Six months ended June 30, 2019 2018 2019 2018 Numerator: Net income available to TMHC – basic $ 81,851 $ 58,678 $ 132,982 $ 103,422 Net income attributable to non-controlling interest — 474 — 3,133 Loss fully attributable to public holding company — 84 — 248 Net income – diluted $ 81,851 $ 59,236 $ 132,982 $ 106,803 Denominator: Weighted average shares – basic 106,238 111,347 108,363 110,508 Weighted average shares – non-controlling interest — 867 — 3,339 Restricted stock units 684 898 850 1,068 Stock Options 310 370 266 485 Weighted average shares – diluted 107,232 113,482 109,479 115,400 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 0.77 $ 0.53 $ 1.23 $ 0.94 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 0.76 $ 0.52 $ 1.21 $ 0.93 We excluded a total weighted average of 3,136,455 and 1,579,683 outstanding anti-dilutive stock options and unvested restricted stock units (“RSUs”) and 3,003,921 and 787,527 stock options and unvested RSUs from the calculation of earnings per share for the three and six months ended June 30, 2019 and 2018 , respectively.

REAL ESTATE INVENTORY AND LAND

REAL ESTATE INVENTORY AND LAND DEPOSITS	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
REAL ESTATE INVENTORY AND LAND DEPOSITS	REAL ESTATE INVENTORY AND LAND DEPOSITS Inventory consists of the following (in thousands): As of June 30, December 31, 2018 Real estate developed and under development $ 2,848,148 $ 2,833,875 Real estate held for development or held for sale (1) 96,755 61,415 Operating communities (2) 1,016,418 973,985 Capitalized interest 111,802 96,031 Total owned inventory 4,073,123 3,965,306 Real estate not owned 30,464 15,259 Total real estate inventory $ 4,103,587 $ 3,980,565 (1) Real estate held for development or held for sale includes raw land recently purchased or awaiting entitlement and properties where we have ceased development and/or marketing. (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 June 30, 2019 December 31, 2018 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 13,708 $ 496,155 9,653 $ 461,387 Partially developed 13,454 913,196 12,036 756,376 Finished 16,196 1,535,552 21,975 1,677,527 Total 43,358 $ 2,944,903 43,664 $ 2,895,290 Land Deposits — We provide deposits related to land options and land purchase contracts, which are capitalized when paid and classified as land deposits until the associated property is purchased. As of June 30, 2019 and December 31, 2018 , we had the right to purchase 4,444 and 4,781 lots under land option purchase contracts, respectively, for an aggregate purchase price of $284.0 million and $393.8 million , respectively. We do not have title to the properties, and the creditors generally have no recourse against the Company. As of June 30, 2019 and December 31, 2018 , our exposure to loss related to our option contracts with third parties and unconsolidated entities consisted of non-refundable deposits totaling $54.2 million and $57.9 million , respectively. Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Interest capitalized - beginning of period $ 106,918 $ 95,334 $ 96,031 $ 90,496 Interest incurred 28,960 20,129 56,753 39,815 Interest amortized to cost of home closings (24,076 ) (19,770 ) (40,982 ) (34,618 ) Interest capitalized - end of period $ 111,802 $ 95,693 $ 111,802 $ 95,693

INVESTMENTS IN UNCONSOLIDATED E

INVESTMENTS IN UNCONSOLIDATED ENTITIES	6 Months Ended
	Jun. 30, 2019
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/or 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 both 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 June 30, December 31, Assets: Real estate inventory $ 416,285 $ 508,795 Other assets 111,947 125,436 Total assets $ 528,232 $ 634,231 Liabilities and owners’ equity: Debt $ 185,039 $ 176,564 Other liabilities 17,014 16,061 Total liabilities 202,053 192,625 Owners’ equity: TMHC 129,518 140,541 Others 196,661 301,075 Total owners’ equity 326,179 441,616 Total liabilities and owners’ equity $ 528,232 $ 634,241 Three Months Ended Six Months Ended 2019 2018 2019 2018 Revenues $ 98,252 $ 76,629 $ 159,268 $ 135,703 Costs and expenses (84,480 ) (61,485 ) (137,300 ) (108,817 ) Income of unconsolidated entities $ 13,772 $ 15,144 $ 21,968 $ 26,886 TMHC’s share in income of unconsolidated entities $ 3,561 $ 4,017 $ 5,880 $ 7,263 Distributions to TMHC from unconsolidated entities $ 16,403 $ 12,230 $ 22,018 $ 13,263

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2019
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 $ 17,381 $ 16,591 Compensation and employee benefits 55,817 73,955 Self-insurance and warranty reserves 81,111 93,790 Interest payable 17,586 21,385 Property and sales taxes payable 12,415 14,861 Other accruals 58,402 46,104 Total accrued expenses and other liabilities $ 242,712 $ 266,686 Self-Insurance and Warranty Reserves – We accrue for the expected costs associated with our limited warranty, deductibles and self-insured amounts under our various insurance policies within Beneva Indemnity Company ("Beneva"), a wholly owned subsidiary. A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Reserve - beginning of period $ 87,887 $ 50,336 $ 93,790 $ 51,010 Additions to reserves 11,286 10,282 16,897 15,325 Costs and claims incurred (15,935 ) (7,873 ) (28,622 ) (12,933 ) Change in estimates to existing reserves (2,127 ) 266 (954 ) (391 ) Reserve - end of period $ 81,111 $ 53,011 $ 81,111 $ 53,011

ESTIMATED DEVELOPMENT LIABILITY

ESTIMATED DEVELOPMENT LIABILITY	6 Months Ended
	Jun. 30, 2019
Real Estate Liabilities Associated with Assets Held for Development and Sale [Abstract]
ESTIMATED DEVELOPMENT LIABILITY	ESTIMATED DEVELOPMENT LIABILITY The estimated development liability consists primarily of the estimated cost of future utilities improvements in Poinciana, Florida and Rio Rico, Arizona for more than 8,000 home sites previously sold, in most cases prior to 1980. The estimated development liability is reduced by actual expenditures and is evaluated and adjusted, as appropriate, to reflect management’s estimate of potential completion costs. We obtained third-party engineer evaluations and recorded this liability at fair value to reflect the estimated completion costs. Future increases or decreases of costs for construction, material and labor, as well as other land development and utilities infrastructure costs, may have a significant effect on the estimated development liability.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
DEBT	DEBT Total debt consists of the following (in thousands): As of June 30, 2019 December 31, 2018 Principal Unamortized Debt Issuance (Costs) / Premium Carrying Value Principal Unamortized Debt Issuance (Costs) / Premium Carrying Value 5.25% Senior Notes due 2021 $ — $ — $ — $ 550,000 $ (2,695 ) $ 547,305 6.625% Senior Notes due 2022 (1) 400,000 9,930 409,930 400,000 11,656 411,656 5.875% Senior Notes due 2023 350,000 (2,151 ) 347,849 350,000 (2,434 ) 347,566 5.625% Senior Notes due 2024 350,000 (2,512 ) 347,488 350,000 (2,781 ) 347,219 5.875% Senior Notes due 2027 500,000 (6,028 ) 493,972 — — — Senior Notes subtotal 1,600,000 (761 ) 1,599,239 1,650,000 3,746 1,653,746 Loans payable and other borrowings 212,897 — 212,897 225,497 — 225,497 Revolving Credit Facility — — — — — — 364-Day Credit Agreement 200,000 — 200,000 200,000 — 200,000 Mortgage warehouse borrowings 79,458 — 79,458 130,353 — 130,353 Total Senior Notes and other financing $ 2,092,355 $ (761 ) $ 2,091,594 $ 2,205,850 $ 3,746 $ 2,209,596 (1) Refer to Note 19 - Subsequent Events for more details on refinancing of the Senior Notes due 2022 and the issuance of Senior Notes due 2028. 2021 Senior Notes Our 5.25% Senior Notes due 2021 (the "2021 Senior Notes") were redeemed in full on June 20, 2019 using the net proceeds from an issuance of the 2027 Senior Notes (as defined below), together with cash on hand. See "2027 Senior Notes and Redemption of 2021 Senior Notes" below for additional information regarding the redemption of the 2021 Senior Notes. 2022 Senior Notes On October 2, 2018, we assumed $400.0 million aggregate principal amount of 6.625% Senior Notes due 2022 (the "2022 Senior Notes"). The carrying value of $411.7 million at December 31, 2018 reflects the acquisition fair value adjustment of the debt instrument, net of amortization. The 2022 Senior Notes mature on May 15, 2022. The 2022 Senior Notes are guaranteed by TMM Holdings Limited Partnership, 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 2022 Senior Notes and the related guarantees are senior unsecured obligations and are not subject to registration rights. Beginning on May 15, 2019, the 2022 Senior Notes are redeemable at 103.313% of principal (plus accrued and unpaid interest) , beginning on May 15, 2020, the 2022 Senior Notes are redeemable at 101.656% of principal (plus accrued and unpaid interest) and beginning on May 21, 2021, the 2022 Senior Notes are redeemable at 100% of principal (plus accrued and unpaid interest). There are no financial maintenance covenants for the 2022 Senior Notes. For further information on refinancing of the 2022 Senior Notes, see Note 19 - Subsequent Events . 2023 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 our other 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 indentures governing our other Senior Notes. We are required to offer to repurchase the 2023 Senior Notes at price equal to 101% of their aggregate par value (plus accrued and unpaid interest) upon certain change of control events where there is a credit rating downgrade that occurs in connection with the change of control. 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 our other 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 indentures governing our other 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. 2027 Senior Notes and Redemption of 2021 Senior Notes On June 5, 2019, we issued $500.0 million aggregate principal amount of 5.875% Senior Notes due 2027 (the "2027 Senior Notes"). The net proceeds of the offering, together with cash on hand, were used to redeem the entire remaining $550.0 million aggregate principal amount of the 2021 Senior Notes on June 20, 2019, at a redemption price of 100% of their aggregate principal amount, plus accrued and unpaid interest thereon to, but not including, the date of redemption. As a result of the redemption of the 2021 Senior Notes, we recorded a loss on extinguishment of debt of $2.2 million , which included the write-off of net unamortized deferred financing fees. The 2027 Senior Notes mature on June 15, 2027. The 2027 Senior Notes are guaranteed by the same Guarantors that guarantee our other Senior Notes. The 2027 Senior Notes and the related guarantees are senior unsecured obligations and are not subject to registration rights. The indenture governing the 2027 Senior Notes contains covenants that limit our ability to incur debt secured by liens an enter into certain sale and leaseback transactions. The indenture governing the 2027 Senior Notes contains events of default that are similar to those contained in the indentures governing our other Senior Notes. The change of control provisions in the indenture governing the 2027 Senior Notes are similar to those contained in the indenture governing the 2023 and 2024 Senior Notes. Prior to March 15, 2027, the 2027 Senior Notes are redeemable at a price equal to 100% plus a "make-whole" premium for payments through March 15, 2027 (plus accrued and unpaid interest). Beginning June 15, 2027, the 2027 Senior Notes are redeemable at par (plus accrued and unpaid interest). There are no financial maintenance covenants for the 2027 Senior Notes. Revolving Credit Facility Our $600.0 million Revolving Credit Facility matures on January 26, 2022 and is guaranteed by the same Guarantors that guarantee the various Senior Notes. The Revolving Credit Facility includes $2.2 million and $2.7 million of unamortized debt issuance costs as of June 30, 2019 and December 31, 2018 , respectively, which are included in prepaid expenses and other assets, net on the condensed consolidated balance sheets. As of June 30, 2019 and December 31, 2018 , we had $79.8 million and $62.3 million , respectively, of utilized letters of credit, resulting in $520.2 million and $537.7 million , respectively, of availability under the Revolving Credit Facility. 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 $1.8 billion . The financial covenants would be in effect for any fiscal quarter during which any (a) loans under the Revolving Credit Facility are outstanding during the last day of such fiscal quarter or on more than five separate days during such fiscal quarter or (b) undrawn letters of credit (except to the extent cash collateralized) issued under the Revolving Credit Facility in an aggregate amount greater than $40.0 million or unreimbursed letters of credit issued under the Revolving Credit Facility are outstanding on the last day of such fiscal quarter or for more than five consecutive days during such fiscal quarter. For purposes of determining compliance with the financial covenants for any fiscal quarter, the Revolving Credit Facility provides that we may exercise an equity cure by issuing certain permitted securities for cash or otherwise recording cash contributions to our capital that will, upon the contribution of such cash to the borrower, be included in the calculation of consolidated tangible net worth and consolidated total capitalization. The equity cure right is exercisable up to twice in any period of four consecutive fiscal quarters and up to five times overall. The Revolving Credit Facility contains certain restrictive covenants including limitations on incurrence of liens, dividends and other distributions, asset dispositions and investments in entities that are not guarantors, limitations on prepayment of subordinated indebtedness and limitations on fundamental changes. The Revolving Credit Facility contains customary events of default, subject to applicable grace periods, including for nonpayment of principal, interest or other amounts, violation of covenants (including financial covenants, subject to the exercise of an equity cure), incorrectness of representations and warranties in any material respect, cross default and cross acceleration, bankruptcy, material monetary judgments, ERISA events with material adverse effect, actual or asserted invalidity of material guarantees and change of control. As of June 30, 2019 , we were in compliance with all of the covenants under the Revolving Credit Facility. 364-Day Credit Agreement Our 364-Day Credit Agreement matures on October 1, 2019 and is a term loan facility under which we borrowed an aggregate principal amount of $200.0 million . We plan on repaying the 364-Day Credit Agreement when it matures, using cash on-hand, additional borrowings, or other finance sources. We may voluntarily repay outstanding loans under the 364-Day Credit Agreement at any time, without prepayment premium or penalty, subject to customary “breakage” costs with respect to LIBOR loans. The 364-Day Credit Agreement contains certain financial covenants, requiring us and our subsidiaries to comply on a quarterly basis 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 $1.8 billion . As of June 30, 2019 , we were in compliance with all of the covenants under the 364-Day Credit Agreement. Mortgage Warehouse Borrowings The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2019 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Warehouse A $ 6,518 $ 15,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 18,721 50,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 54,219 75,000 LIBOR + 1.95% On Demand Mortgage Loans and Restricted Cash Total $ 79,458 $ 140,000 As of December 31, 2018 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Warehouse A $ 29,484 $ 45,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 38,164 85,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 62,705 100,000 LIBOR + 1.95% On Demand Mortgage Loans and Restricted Cash Total $ 130,353 $ 230,000 (1) The mortgage warehouse borrowings outstanding as of June 30, 2019 and December 31, 2018 were collateralized by a) $124.8 million and $181.9 million , respectively, of mortgage loans held for sale, which comprised the balance of mortgage loans held for sale and b) approximately $1.1 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 June 30, 2019 and December 31, 2018 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 each of June 30, 2019 and December 31, 2018

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2019
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, the borrowings under our Revolving Credit Facility and our 364-Day Credit Agreement 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. There were no changes to or transfers between the levels of the fair value hierarchy for any of our financial instruments as of June 30, 2019 , when compared to December 31, 2018 . The carrying value and fair value of our financial instruments are as follows: June 30, 2019 December 31, 2018 (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 $ 124,805 $ 124,805 $ 181,897 $ 181,897 Derivative assets, net 2 2,302 2,302 1,099 1,099 Mortgage warehouse borrowings 2 79,458 79,458 130,353 130,353 Loans payable and other borrowings 2 212,897 212,897 225,497 225,497 5.25% Senior Notes due 2021 (1) 2 — — 547,304 544,500 6.625% Senior Notes due 2022 (2) 2 409,930 413,520 411,656 400,520 5.875% Senior Notes due 2023 (1) 2 347,849 367,500 347,566 337,750 5.625% Senior Notes due 2024 (1) 2 347,488 361,375 347,219 332,500 5.875% Senior Notes due 2027 (1) 2 493,972 508,750 — — Revolving Credit Facility 2 — — — — 364-Day Credit Agreement 2 200,000 200,000 200,000 200,000 (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. (2) Carrying value for the 2022 Senior Notes reflects the acquisition fair value adjustment, net of amortization, whereas the fair value reflects current market pricing. 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: (Dollars in thousands) For the Year Ended December 31, Description: Level in 2018 Inventories 3 $ 5,545 At June 30, 2019, 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	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate for the three and six months ended June 30, 2019 was 25.6% and 25.2% , respectively, compared to 25.2% and 22.9% for the same periods in 2018 , respectively. For the three and six months ended June 30, 2019 and 2018 , the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, non-deductible executive compensation, uncertain tax positions, and discrete tax adjustments related to certain deferred tax assets and liabilities. At both June 30, 2019 and December 31, 2018 , cumulative gross unrecognized tax benefits were $7.4 million . If the unrecognized tax benefits as of June 30, 2019 were to be recognized, approximately $5.9 million would affect the effective tax rate. We had $0.8 million of gross interest and penalties related to unrecognized tax positions accrued as of both June 30, 2019 and December 31, 2018 .

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Capital Stock As of October 26, 2018, as a result of a holding company reorganization and related transactions (collectively, the “Reorganization”), each share of the Company’s former Class B common stock, par value $0.00001 per share (the “Class B common stock”), and paired partnership units of TMM Holdings II Limited Partnership were exchanged on a one-for-one basis for shares of Class A common stock, par value $0.00001 per share (“Class A common stock”). Following this exchange, all of the shares of Class B common stock were canceled, and the Company had only one class of common stock outstanding. On May 29, 2019, the Company’s stockholders approved the amendment and restatement of the Company’s certificate of incorporation to (i) delete provisions no longer applicable following the cancellation of all outstanding shares of the former Class B common stock; and (ii) to rename the Company’s Class A common stock as “Common Stock, par value $0.00001 per share.” Following this amendment and restatement, under the Company’s certificate of incorporation, its authorized capital stock consists of 400,000,000 shares of common stock, par value $0.00001 per share (the “Common Stock”), and 50,000,000 shares of preferred stock, par value $0.00001 per share. References to “Common Stock” refer to “Class A Common Stock” for dates prior to June 30, 2019. Stock Repurchase Program The Company's stock repurchase program allows for repurchases of the Company's 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. The following table summarizes share repurchase activity for the program for the periods presented: Three Months Ended June 30 Six Months Ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Amount available for repurchase — beginning of period 79,598 95,902 $ 57,437 $ 95,902 Additional amount authorized for repurchase — — 100,000 100,000 Amount repurchased (79,598 ) — (157,437 ) (100,000 ) Amount available for repurchase — end of period $ — $ 95,902 $ — $ 95,902 During the three and six months ended June 30, 2019 , we repurchased 4,012,469 and 8,389,348 shares of Common Stock under the Company's stock repurchase program, respectively. During the six months ended June 30 , 2018 , we repurchased 7,588,771

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [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 Common Stock. As of June 30, 2019 , we had an aggregate of 6,834,553 shares of Common Stock available for future grants under the Plan. The following table provides information regarding the amount and components of stock-based compensation expense, all of which is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Restricted stock units (1) $ 2,843 $ 1,803 $ 5,357 $ 4,105 Stock options 983 944 1,886 2,185 Total stock compensation $ 3,826 $ 2,747 $ 7,243 $ 6,290 (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 June 30, 2019 and December 31, 2018 , the aggregate unrecognized value of all outstanding stock-based compensation awards was approximately $29.7 million and $20.4 million , respectively. Restricted Stock Units – The following table summarizes the time-based RSU and performance-based RSU activity for the six months ended June 30, 2019 : Shares Weighted Average Grant Date Fair Value Balance at December 31, 2018 1,925,364 $ 16.49 Granted 712,570 18.44 Vested (804,224 ) 13.33 Forfeited (1) (42,096 ) 17.28 Balance at June 30, 2019 1,791,614 $ 18.78 (1) Forfeitures on time-based RSUs are a result of terminations of employment, while forfeitures on performance-based RSUs are a result of failing to attain certain goals as outlined in our stock based compensation awards or termination of employment. Outstanding performance-based RSUs reflected in the table above are reported at target level of performance. During the three months ended June 30, 2019 , we granted 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 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 vest ratably over a three to four year period, based on the grant date. Time-based RSUs granted to members of the Board of Directors generally vest on the first anniversary of the grant date. Additionally, we granted 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 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 less than the target award amount depending on actual performance achieved as compared to the performance targets set forth in the awards. Stock Options – The following table summarizes the stock option activity for the six months ended June 30, 2019 : Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2018 3,239,995 $ 18.87 Granted 983,107 18.07 Exercised (119,356 ) 15.96 Canceled/Forfeited (50,935 ) 19.74 Outstanding at June 30, 2019 4,052,811 $ 18.75 Options exercisable at June 30, 2019 2,047,978 $ 18.61 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.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2019
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 June 30, 2018 and June 30, 2019, therefore such periods are not presented. Six Months Ended June 30, 2019 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Former Principal Equityholders Reclassification Total Balance, beginning of period $ 2,001 $ — $ — $ 2,001 Other comprehensive income before reclassifications 284 — — 284 Other comprehensive income, net of tax $ 284 $ — $ — $ 284 Gross amounts reclassified within AOCI — — — — Balance, end of period $ 2,285 $ — $ — $ 2,285 Six Months Ended June 30, 2018 Total Post- Foreign Non-controlling Total Balance, beginning of period $ 2,082 $ (45,205 ) $ 25,155 $ (17,968 ) Other comprehensive income before reclassifications — — — — Other comprehensive income, net of tax $ — $ — $ — $ — Gross amounts reclassified within AOCI — 25,155 (25,155 ) — Balance, end of period $ 2,082 $ (20,050 ) $ — $ (17,968 )

REPORTING SEGMENTS

REPORTING SEGMENTS	6 Months Ended
	Jun. 30, 2019
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 financial services reporting segment. We have no inter-segment sales as all sales are to external customers. Our reporting segments are as follows: East Atlanta, Charlotte, Chicago, Jacksonville, Orlando, Raleigh, Southwest Florida, and Tampa Central Austin, Dallas, Denver, and Houston West Bay Area, Phoenix, Sacramento and Southern California Financial Services TMHF and Inspired Title Services Segment information is as follows (in thousands): Three Months Ended June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 485,376 $ 363,003 $ 394,228 $ 22,819 $ — $ 1,265,426 Gross margin 77,149 62,649 84,202 9,774 — 233,774 Selling, general and administrative expenses (41,459 ) (31,297 ) (24,976 ) — (27,085 ) (124,817 ) Equity in (loss)/income of unconsolidated entities — (82 ) 1,735 1,926 (18 ) 3,561 Interest and other (expense)/income, net (1,924 ) 251 178 — (1,004 ) (2,499 ) Income/(loss) before income taxes $ 33,766 $ 31,521 $ 61,139 $ 11,700 $ (28,107 ) $ 110,019 Three Months Ended June 30, 2018 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 360,472 $ 298,112 $ 305,978 $ 16,266 $ — $ 980,828 Gross margin 65,128 53,653 54,816 5,114 — 178,711 Selling, general and administrative expenses (31,105 ) (26,122 ) (20,061 ) — (22,777 ) (100,065 ) Equity in income of unconsolidated entities 128 374 1,476 2,039 — 4,017 Interest and other expense, net (122 ) (130 ) (101 ) — (3,025 ) (3,378 ) Income/(loss) before income taxes $ 34,029 $ 27,775 $ 36,130 $ 7,153 $ (25,802 ) $ 79,285 Six Months Ended June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 840,328 $ 617,950 $ 693,377 $ 38,863 $ — $ 2,190,518 Gross margin 138,325 104,993 147,399 15,097 — 405,814 Selling, general and administrative expenses (77,018 ) (57,561 ) (45,540 ) — (48,581 ) (228,700 ) Equity in income of unconsolidated entities — (171 ) 2,556 3,335 160 5,880 Interest and other (expense)/income, net (3,537 ) (556 ) (211 ) — (599 ) (4,903 ) Income/(loss) before income taxes $ 57,770 $ 46,705 $ 104,204 $ 18,432 $ (49,020 ) $ 178,091 Six Months Ended June 30, 2018 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 645,279 $ 512,224 $ 545,186 $ 30,472 $ — $ 1,733,161 Gross margin 117,417 94,280 100,840 9,276 — 321,813 Selling, general and administrative expenses (59,738 ) (48,402 ) (35,626 ) — (43,314 ) (187,080 ) Equity in income of unconsolidated entities 239 755 2,571 3,698 — 7,263 Interest and other expense, net (600 ) (238 ) (81 ) — (2,554 ) (3,473 ) Income/(loss) before income taxes $ 57,318 $ 46,395 $ 67,704 $ 12,974 $ (45,868 ) $ 138,523 As of June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Real estate inventory and land deposits $ 1,939,618 $ 1,011,710 $ 1,206,473 $ — $ — $ 4,157,801 Investments in unconsolidated entities — 35,411 89,827 4,015 265 129,518 Other assets 162,776 131,963 66,020 199,152 330,542 890,453 Total assets $ 2,102,394 $ 1,179,084 $ 1,362,320 $ 203,167 $ 330,807 $ 5,177,772 As of December 31, 2018 East Central West Financial Services Corporate and Unallocated Total Real estate inventory and land deposits $ 1,862,756 $ 1,011,659 $ 1,164,079 $ — $ — $ 4,038,494 Investments in unconsolidated entities — 35,476 100,693 4,015 357 140,541 Other assets 162,339 118,187 55,433 236,291 513,156 1,085,406 Total assets $ 2,025,095 $ 1,165,322 $ 1,320,205 $ 240,306 $ 513,513 $ 5,264,441

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2019
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 $533.1 million and $397.2 million as of June 30, 2019 and December 31, 2018 , respectively. Although significant development and construction activities have been completed related to these site improvements, the bonds are generally not released until all development and construction activities are completed. We do not believe that it is probable that any outstanding bonds as of June 30, 2019 will be drawn upon. Legal Proceedings — We are involved in various litigation and legal claims in the normal course of our business operations, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. At June 30, 2019 and December 31, 2018 , our legal accruals were $7.6 million and $5.7 million

MORTGAGE HEDGING ACTIVITIES

MORTGAGE HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2019
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 Financial Services revenue/expenses on the statements of operations and other comprehensive income. Unrealized gains and losses on the IRLCs, reflected as derivative assets or liabilities, 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 June 30, 2019 December 31, 2018 (Dollars in thousands) Fair Value Notional Amount Fair Value Notional Amount IRLCs $ 3,055 $ 142,195 $ 1,838 $ 75,090 MBSs (753 ) 190,000 (739 ) 118,000 Total $ 2,302 $ 1,099 Total commitments to originate loans approximated $157.1 million and $83.4 million as of June 30, 2019 and December 31, 2018 , respectively. This amount represents the commitments to originate loans that have been locked and approved by underwriting. The notional amounts in the table above includes mandatory and best effort loans, that have been locked and approved by underwriting.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2019
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 Former Principal Equityholders. For the three and six months ended June 30, 2019, we engaged in a stock repurchase of 2.1 million shares of Class A Common Stock, totaling $ 43.7 million , from one of our former principal equityholders, TPG Advisors VI, Inc. During the six months ended June 30, 2018 we engaged in multiple equity offering transactions with our former principal equityholders. Refer to Note 12 - Stockholders’ Equity for discussion regarding such transactions.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On July 18, 2019, we announced the pricing of a $450.0 million aggregate principal amount of senior notes due 2028 (the “2028 Senior Notes”) in an unregistered debt offering. The 2028 Senior notes will bear interest at a rate of 5.75% per annum, payable semiannually, in arrears, on each January 15 and July 15, beginning on January 15, 2020. We also announced a notice of redemption for the entire outstanding principal amount of the 6.625% senior notes due 2022 (the “2022 Senior notes”). The notice of redemption states that the entire outstanding $400 million principal amount of the 2022 Senior Notes will be redeemed on August 17, 2019 at a price equal to 103.313% of the principal amount of the 2022 Senior Notes to be redeemed, plus accrued and unpaid interest. As a result of the redemption of the 2022 Senior Notes, we expect to incur a net loss on extinguishment of debt in the third quarter of 2019 of approximately $3.8 million , inclusive of a prepayment premium of approximately $13.3 million , offset by the write-off of approximately $9.5 million

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Policies)	6 Months Ended
	Jun. 30, 2019
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 Annual Report on Form 10-K for the year ended December 31, 2018 (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.
Joint Ventures	Joint Ventures - We consolidate certain joint ventures in accordance with Accounting Standards Codification (“ASC”) Topic 810, “ Consolidation. ” The income from the percentage of the joint venture not owned by us is presented as “Net income attributable to non-controlling interests - joint ventures” on the Condensed Consolidated Statements of Operations.
Use of Estimates	Use of Estimates
Real Estate Inventory	Real Estate Inventory — Inventory consists of raw land, land under development, homes under construction, completed homes, and model homes, all of which are stated at cost. In addition to direct carrying costs, we also capitalize interest, real estate taxes, and related development costs that benefit the entire community, such as field construction supervision and related direct overhead. Home vertical construction costs are accumulated and charged to cost of sales at the time of home closing using the specific identification method. Land acquisition, development, interest, real estate taxes and overhead are allocated to homes and units using the relative sales value method. These costs are capitalized to inventory from the point development begins to the point construction is completed. Changes in estimated costs to be incurred in a community are generally allocated to the remaining lots on a prospective basis. For those communities that have been temporarily closed or development has been discontinued, we do not allocate interest or other costs to the community’s inventory until activity resumes. Such costs are expensed as incurred. We capitalize qualifying interest costs to inventory during the development and construction periods. Capitalized interest is charged to cost of sales when the related inventory is charged to cost of sales. We assess the recoverability of our 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 date. Our determination of fair value is primarily 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 six months ended June 30, 2019 and 2018 , no impairment charges were recorded. In certain cases, we may elect to cease development and/or marketing of an existing community if we believe the economic performance of the community would be maximized by deferring development for a period of time to allow for market conditions to improve. We refer to such communities as long-term strategic assets. The decision may be based on financial and/or operational metrics as determined by us. If we decide to cease development, we will evaluate the project for impairment and then cease future development and marketing activity until such a time when we believe that market conditions have improved and economic performance can be maximized. Our assessment of the carrying value of our long-term strategic assets typically includes subjective estimates of future performance, including the timing of when development will recommence, the type of product to be offered, and the margin to be realized. In the future, some of these inactive communities may be re-opened while others may be sold. As of June 30, 2019 and December 31, 2018 we had no inactive projects. In the ordinary course of business, we enter into various specific performance agreements to acquire lots. Real estate not owned under these agreements is reflected in Real estate not owned with a corresponding liability in Liabilities attributable to real estate not owned in the Condensed Consolidated Balance Sheets.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities
Leases	Leases — We adopted Accounting Standards Update (“ASU”) No. 2016-02— Leases (Topic 842), as amended, on January 1, 2019, using the modified retrospective approach. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification. We also elected the hindsight practical expedient to determine the lease term for existing leases. Our leases primarily consist of office space, construction trailers, model leasebacks, and equipment or storage units. Certain of our leases offer the option to renew or to increase rental square footage. The execution of such options are at our discretion and may result in a lease modification. Adoption of the new standard resulted in the recording of an opening balance of Operating lease right of use assets and Operating lease liabilities of approximately $27.4 million and $30.3 million , respectively. The weighted average discount rate used in determining our operating lease liabilities is 5.795% . Payments on the lease liabilities for the three and six months ended June 30, 2019 were approximately $2.2 million and $4.3 million , respectively. For the three and six months ended June 30, 2019 , we recorded lease expense of approximately $2.3 million and $4.4 million , respectively, within General and administrative expenses on our condensed consolidated statement of operations.
Revenue Recognition	Revenue Recognition Topic 606 We recognize revenue in accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09” or “Topic 606”). The standard's core principle requires an entity to 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. Home and land closings revenue Under Topic 606, the following steps are applied to determine the proper home closings revenue and land closings revenue recognition: (1) we identify the contract(s) with our customer; (2) we identify the performance obligations in the contract; (3) we determine the transaction price; (4) we allocate the transaction price to the performance obligations in the contract; and (5) we recognize revenue when (or as) we satisfy the performance obligation. For our home sales transactions, we have one contract, with one performance obligation, with each customer to build and deliver the home purchased (or develop and deliver land). Based on the application of the five steps, the following summarizes the timing and manner of home and land sales revenue: • Revenue from closings of residential real estate is recognized when closings have occurred, the buyer has made the required minimum down payment, obtained necessary financing, the risks and rewards of ownership are transferred to the buyer, and we have no continuing involvement with the property, which is generally upon the close of escrow. Revenue is reported net of any discounts and incentives. • Revenue from land sales is recognized when a significant down payment is received, title passes and collectability of the receivable is reasonably assured, and we have no continuing involvement with the property, which is generally upon the close of escrow. Amenity and other revenue We own and operate certain amenities pursuant to recorded mandatory club plans, which require us to provide club members with access to amenity facilities in exchange for the payment of club dues. We collect club dues and other fees from the club members, which are billed on a monthly basis. Revenue from our golf club operations is also included in amenity revenue. Financial services revenue Mortgage operations and hedging activity related to financial services are not within the scope of Topic 606. Loan origination fees (including title fees, points, and 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Operating Lease	The future minimum lease payments required under our leases as of June 30, 2019 are as follows (dollars in thousands): Years Ending December 31, Lease Payments (1) 2019 (1) $ 4,748 2020 8,663 2021 7,650 2022 6,259 2023 5,680 Thereafter 10,352 Total lease payments $ 43,352 Less: Interest $ 6,762 Present value of lease liabilities. $ 36,590 (1) Represents lease payments for the period beginning July 1, 2019 through December 31, 2019.

BUSINESS COMBINATIONS - (Tables

BUSINESS COMBINATIONS - (Tables)	6 Months Ended
	Jun. 30, 2019
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 and liabilities assumed. (Dollars in thousands) AV Homes Acquisition Date October 2, 2018 Assets acquired Real estate inventory $ 778,174 Prepaid expenses and other assets (1) 106,612 Deferred tax assets, net 71,411 Property and equipment 50,996 Goodwill (2) 85,918 Total assets $ 1,093,111 Less liabilities assumed Accrued expenses and other liabilities $ 94,308 Customer deposits 14,130 Estimated development liability (3) 37,230 Senior notes, net 412,520 Net assets acquired $ 534,923 (1) Includes cash acquired. (2) Goodwill is not deductible for tax purposes. We allocated $45.1 million of goodwill to the East homebuilding segment, $30.3 million to the Central homebuilding segment, and $10.5 million to the West homebuilding segment.
Unaudited Pro Forma Results of Business Combinations	The pro forma amounts are based on available information and certain assumptions that we believe are reasonable. For the three months ended June 30, For the six months ended June 30, (Dollars in thousands except per share data) 2019 (As reported) 2018 (Pro forma) 2019 2018 Total revenues $ 1,265,426 $ 1,184,388 $ 2,190,518 $ 2,088,729 Net income $ 81,888 $ 62,291 $ 133,169 $ 107,480 Net income attributable to non-controlling interests — joint ventures (37 ) (140 ) (187 ) (269 ) Net income attributable to non-controlling interest - Former Principal Equityholders — (474 ) — (3,133 ) Net income available to TMHC - Basic $ 81,851 $ 61,677 $ 132,982 $ 104,078 Net income attributable to non-controlling interest - Former Principal Equityholders — 474 — 3,133 Loss fully attributable to public holding company — 84 — 248 Net income - Diluted $ 81,851 $ 62,235 $ 132,982 $ 107,459 Weighted average shares - Basic 106,238 120,471 108,363 119,380 Weighted average shares - Diluted 107,232 122,606 109,479 124,272 Earnings per share - Basic $ 0.77 $ 0.51 $ 1.23 $ 0.87 Earnings per share - Diluted $ 0.76 $ 0.51 $ 1.21 $ 0.86

EARNINGS PER SHARE - (Tables)

EARNINGS PER SHARE - (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, Six months ended June 30, 2019 2018 2019 2018 Numerator: Net income available to TMHC – basic $ 81,851 $ 58,678 $ 132,982 $ 103,422 Net income attributable to non-controlling interest — 474 — 3,133 Loss fully attributable to public holding company — 84 — 248 Net income – diluted $ 81,851 $ 59,236 $ 132,982 $ 106,803 Denominator: Weighted average shares – basic 106,238 111,347 108,363 110,508 Weighted average shares – non-controlling interest — 867 — 3,339 Restricted stock units 684 898 850 1,068 Stock Options 310 370 266 485 Weighted average shares – diluted 107,232 113,482 109,479 115,400 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 0.77 $ 0.53 $ 1.23 $ 0.94 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 0.76 $ 0.52 $ 1.21 $ 0.93

REAL ESTATE INVENTORY AND LAN_2

REAL ESTATE INVENTORY AND LAND DEPOSITS - (Tables)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of June 30, December 31, 2018 Real estate developed and under development $ 2,848,148 $ 2,833,875 Real estate held for development or held for sale (1) 96,755 61,415 Operating communities (2) 1,016,418 973,985 Capitalized interest 111,802 96,031 Total owned inventory 4,073,123 3,965,306 Real estate not owned 30,464 15,259 Total real estate inventory $ 4,103,587 $ 3,980,565 (1) Real estate held for development or held for sale includes raw land recently purchased or awaiting entitlement and properties where we have ceased development and/or marketing. (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 June 30, 2019 December 31, 2018 Owned Lots Book Value of Land and Development Owned Lots Book Value of Land and Development Raw 13,708 $ 496,155 9,653 $ 461,387 Partially developed 13,454 913,196 12,036 756,376 Finished 16,196 1,535,552 21,975 1,677,527 Total 43,358 $ 2,944,903 43,664 $ 2,895,290
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Interest capitalized - beginning of period $ 106,918 $ 95,334 $ 96,031 $ 90,496 Interest incurred 28,960 20,129 56,753 39,815 Interest amortized to cost of home closings (24,076 ) (19,770 ) (40,982 ) (34,618 ) Interest capitalized - end of period $ 111,802 $ 95,693 $ 111,802 $ 95,693

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED ENTITIES - (Tables)	6 Months Ended
	Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information of Unconsolidated Entities Accounted by Equity Method	Summarized, unaudited combined financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 416,285 $ 508,795 Other assets 111,947 125,436 Total assets $ 528,232 $ 634,231 Liabilities and owners’ equity: Debt $ 185,039 $ 176,564 Other liabilities 17,014 16,061 Total liabilities 202,053 192,625 Owners’ equity: TMHC 129,518 140,541 Others 196,661 301,075 Total owners’ equity 326,179 441,616 Total liabilities and owners’ equity $ 528,232 $ 634,241 Three Months Ended Six Months Ended 2019 2018 2019 2018 Revenues $ 98,252 $ 76,629 $ 159,268 $ 135,703 Costs and expenses (84,480 ) (61,485 ) (137,300 ) (108,817 ) Income of unconsolidated entities $ 13,772 $ 15,144 $ 21,968 $ 26,886 TMHC’s share in income of unconsolidated entities $ 3,561 $ 4,017 $ 5,880 $ 7,263 Distributions to TMHC from unconsolidated entities $ 16,403 $ 12,230 $ 22,018 $ 13,263

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES - (Tables)	6 Months Ended
	Jun. 30, 2019
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 $ 17,381 $ 16,591 Compensation and employee benefits 55,817 73,955 Self-insurance and warranty reserves 81,111 93,790 Interest payable 17,586 21,385 Property and sales taxes payable 12,415 14,861 Other accruals 58,402 46,104 Total accrued expenses and other liabilities $ 242,712 $ 266,686
Summary of Changes in Reserves	A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Six Months Ended 2019 2018 2019 2018 Reserve - beginning of period $ 87,887 $ 50,336 $ 93,790 $ 51,010 Additions to reserves 11,286 10,282 16,897 15,325 Costs and claims incurred (15,935 ) (7,873 ) (28,622 ) (12,933 ) Change in estimates to existing reserves (2,127 ) 266 (954 ) (391 ) Reserve - end of period $ 81,111 $ 53,011 $ 81,111 $ 53,011

DEBT - (Tables)

DEBT - (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Summary of Senior Notes and Other Borrowings	Total debt consists of the following (in thousands): As of June 30, 2019 December 31, 2018 Principal Unamortized Debt Issuance (Costs) / Premium Carrying Value Principal Unamortized Debt Issuance (Costs) / Premium Carrying Value 5.25% Senior Notes due 2021 $ — $ — $ — $ 550,000 $ (2,695 ) $ 547,305 6.625% Senior Notes due 2022 (1) 400,000 9,930 409,930 400,000 11,656 411,656 5.875% Senior Notes due 2023 350,000 (2,151 ) 347,849 350,000 (2,434 ) 347,566 5.625% Senior Notes due 2024 350,000 (2,512 ) 347,488 350,000 (2,781 ) 347,219 5.875% Senior Notes due 2027 500,000 (6,028 ) 493,972 — — — Senior Notes subtotal 1,600,000 (761 ) 1,599,239 1,650,000 3,746 1,653,746 Loans payable and other borrowings 212,897 — 212,897 225,497 — 225,497 Revolving Credit Facility — — — — — — 364-Day Credit Agreement 200,000 — 200,000 200,000 — 200,000 Mortgage warehouse borrowings 79,458 — 79,458 130,353 — 130,353 Total Senior Notes and other financing $ 2,092,355 $ (761 ) $ 2,091,594 $ 2,205,850 $ 3,746 $ 2,209,596 (1) Refer to Note 19 - Subsequent Events for more details on refinancing of the Senior Notes due 2022 and the issuance of Senior Notes due 2028.
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2019 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Warehouse A $ 6,518 $ 15,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 18,721 50,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 54,219 75,000 LIBOR + 1.95% On Demand Mortgage Loans and Restricted Cash Total $ 79,458 $ 140,000 As of December 31, 2018 Facility Amount Drawn Facility Amount Interest Rate Expiration Date Collateral (1) Warehouse A $ 29,484 $ 45,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 38,164 85,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 62,705 100,000 LIBOR + 1.95% On Demand Mortgage Loans and Restricted Cash Total $ 130,353 $ 230,000 (1) The mortgage warehouse borrowings outstanding as of June 30, 2019 and December 31, 2018 were collateralized by a) $124.8 million and $181.9 million , respectively, of mortgage loans held for sale, which comprised the balance of mortgage loans held for sale and b) approximately $1.1 million and $1.6 million , respectively, of cash which are included in restricted cash in the accompanying Condensed Consolidated Balance Sheets.

FAIR VALUE DISCLOSURES - (Table

FAIR VALUE DISCLOSURES - (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of our financial instruments are as follows: June 30, 2019 December 31, 2018 (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 $ 124,805 $ 124,805 $ 181,897 $ 181,897 Derivative assets, net 2 2,302 2,302 1,099 1,099 Mortgage warehouse borrowings 2 79,458 79,458 130,353 130,353 Loans payable and other borrowings 2 212,897 212,897 225,497 225,497 5.25% Senior Notes due 2021 (1) 2 — — 547,304 544,500 6.625% Senior Notes due 2022 (2) 2 409,930 413,520 411,656 400,520 5.875% Senior Notes due 2023 (1) 2 347,849 367,500 347,566 337,750 5.625% Senior Notes due 2024 (1) 2 347,488 361,375 347,219 332,500 5.875% Senior Notes due 2027 (1) 2 493,972 508,750 — — Revolving Credit Facility 2 — — — — 364-Day Credit Agreement 2 200,000 200,000 200,000 200,000 (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. (2) Carrying value for the 2022 Senior Notes reflects the acquisition fair value adjustment, net of amortization, whereas the fair value reflects current market pricing.
Fair Value of Assets Measured on a Nonrecurring Basis	The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis: (Dollars in thousands) For the Year Ended December 31, Description: Level in 2018 Inventories 3 $ 5,545

STOCKHOLDERS_ EQUITY - (Tables

STOCKHOLDERS’ EQUITY - (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stock Activity	The following table summarizes share repurchase activity for the program for the periods presented: Three Months Ended June 30 Six Months Ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Amount available for repurchase — beginning of period 79,598 95,902 $ 57,437 $ 95,902 Additional amount authorized for repurchase — — 100,000 100,000 Amount repurchased (79,598 ) — (157,437 ) (100,000 ) Amount available for repurchase — end of period $ — $ 95,902 $ — $ 95,902

STOCK BASED COMPENSATION - (Tab

STOCK BASED COMPENSATION - (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [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 Six Months Ended 2019 2018 2019 2018 Restricted stock units (1) $ 2,843 $ 1,803 $ 5,357 $ 4,105 Stock options 983 944 1,886 2,185 Total stock compensation $ 3,826 $ 2,747 $ 7,243 $ 6,290 (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 following table summarizes the time-based RSU and performance-based RSU activity for the six months ended June 30, 2019 : Shares Weighted Average Grant Date Fair Value Balance at December 31, 2018 1,925,364 $ 16.49 Granted 712,570 18.44 Vested (804,224 ) 13.33 Forfeited (1) (42,096 ) 17.28 Balance at June 30, 2019 1,791,614 $ 18.78 (1) Forfeitures on time-based RSUs are a result of terminations of employment, while forfeitures on performance-based RSUs are a result of failing to attain certain goals as outlined in our stock based compensation awards or termination of employment. Outstanding performance-based RSUs reflected in the table above are reported at target level of performance.
Summary of Stock Option Activity	The following table summarizes the stock option activity for the six months ended June 30, 2019 : Shares Weighted Average Exercise Price Per Share Outstanding at December 31, 2018 3,239,995 $ 18.87 Granted 983,107 18.07 Exercised (119,356 ) 15.96 Canceled/Forfeited (50,935 ) 19.74 Outstanding at June 30, 2019 4,052,811 $ 18.75 Options exercisable at June 30, 2019 2,047,978 $ 18.61

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME - (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2018 and June 30, 2019, therefore such periods are not presented. Six Months Ended June 30, 2019 Total Post- Retirement Benefits Adjustments Foreign Currency Translation Adjustments Non-controlling Interest - Former Principal Equityholders Reclassification Total Balance, beginning of period $ 2,001 $ — $ — $ 2,001 Other comprehensive income before reclassifications 284 — — 284 Other comprehensive income, net of tax $ 284 $ — $ — $ 284 Gross amounts reclassified within AOCI — — — — Balance, end of period $ 2,285 $ — $ — $ 2,285 Six Months Ended June 30, 2018 Total Post- Foreign Non-controlling Total Balance, beginning of period $ 2,082 $ (45,205 ) $ 25,155 $ (17,968 ) Other comprehensive income before reclassifications — — — — Other comprehensive income, net of tax $ — $ — $ — $ — Gross amounts reclassified within AOCI — 25,155 (25,155 ) — Balance, end of period $ 2,082 $ (20,050 ) $ — $ (17,968 )

REPORTING SEGMENTS - (Tables)

REPORTING SEGMENTS - (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Summary of Reporting Segments	Our reporting segments are as follows: East Atlanta, Charlotte, Chicago, Jacksonville, Orlando, Raleigh, Southwest Florida, and Tampa Central Austin, Dallas, Denver, and Houston West Bay Area, Phoenix, Sacramento and Southern California Financial Services TMHF and Inspired Title Services
Summary of Segment Information	Segment information is as follows (in thousands): Three Months Ended June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 485,376 $ 363,003 $ 394,228 $ 22,819 $ — $ 1,265,426 Gross margin 77,149 62,649 84,202 9,774 — 233,774 Selling, general and administrative expenses (41,459 ) (31,297 ) (24,976 ) — (27,085 ) (124,817 ) Equity in (loss)/income of unconsolidated entities — (82 ) 1,735 1,926 (18 ) 3,561 Interest and other (expense)/income, net (1,924 ) 251 178 — (1,004 ) (2,499 ) Income/(loss) before income taxes $ 33,766 $ 31,521 $ 61,139 $ 11,700 $ (28,107 ) $ 110,019 Three Months Ended June 30, 2018 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 360,472 $ 298,112 $ 305,978 $ 16,266 $ — $ 980,828 Gross margin 65,128 53,653 54,816 5,114 — 178,711 Selling, general and administrative expenses (31,105 ) (26,122 ) (20,061 ) — (22,777 ) (100,065 ) Equity in income of unconsolidated entities 128 374 1,476 2,039 — 4,017 Interest and other expense, net (122 ) (130 ) (101 ) — (3,025 ) (3,378 ) Income/(loss) before income taxes $ 34,029 $ 27,775 $ 36,130 $ 7,153 $ (25,802 ) $ 79,285 Six Months Ended June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 840,328 $ 617,950 $ 693,377 $ 38,863 $ — $ 2,190,518 Gross margin 138,325 104,993 147,399 15,097 — 405,814 Selling, general and administrative expenses (77,018 ) (57,561 ) (45,540 ) — (48,581 ) (228,700 ) Equity in income of unconsolidated entities — (171 ) 2,556 3,335 160 5,880 Interest and other (expense)/income, net (3,537 ) (556 ) (211 ) — (599 ) (4,903 ) Income/(loss) before income taxes $ 57,770 $ 46,705 $ 104,204 $ 18,432 $ (49,020 ) $ 178,091 Six Months Ended June 30, 2018 East Central West Financial Services Corporate and Unallocated Total Total revenues $ 645,279 $ 512,224 $ 545,186 $ 30,472 $ — $ 1,733,161 Gross margin 117,417 94,280 100,840 9,276 — 321,813 Selling, general and administrative expenses (59,738 ) (48,402 ) (35,626 ) — (43,314 ) (187,080 ) Equity in income of unconsolidated entities 239 755 2,571 3,698 — 7,263 Interest and other expense, net (600 ) (238 ) (81 ) — (2,554 ) (3,473 ) Income/(loss) before income taxes $ 57,318 $ 46,395 $ 67,704 $ 12,974 $ (45,868 ) $ 138,523 As of June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Real estate inventory and land deposits $ 1,939,618 $ 1,011,710 $ 1,206,473 $ — $ — $ 4,157,801 Investments in unconsolidated entities — 35,411 89,827 4,015 265 129,518 Other assets 162,776 131,963 66,020 199,152 330,542 890,453 Total assets $ 2,102,394 $ 1,179,084 $ 1,362,320 $ 203,167 $ 330,807 $ 5,177,772
Summary of Assets by Segment	As of June 30, 2019 East Central West Financial Services Corporate and Unallocated Total Real estate inventory and land deposits $ 1,939,618 $ 1,011,710 $ 1,206,473 $ — $ — $ 4,157,801 Investments in unconsolidated entities — 35,411 89,827 4,015 265 129,518 Other assets 162,776 131,963 66,020 199,152 330,542 890,453 Total assets $ 2,102,394 $ 1,179,084 $ 1,362,320 $ 203,167 $ 330,807 $ 5,177,772 As of December 31, 2018 East Central West Financial Services Corporate and Unallocated Total Real estate inventory and land deposits $ 1,862,756 $ 1,011,659 $ 1,164,079 $ — $ — $ 4,038,494 Investments in unconsolidated entities — 35,476 100,693 4,015 357 140,541 Other assets 162,339 118,187 55,433 236,291 513,156 1,085,406 Total assets $ 2,025,095 $ 1,165,322 $ 1,320,205 $ 240,306 $ 513,513 $ 5,264,441

MORTGAGE HEDGING ACTIVITIES - (

MORTGAGE HEDGING ACTIVITIES - (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 December 31, 2018 (Dollars in thousands) Fair Value Notional Amount Fair Value Notional Amount IRLCs $ 3,055 $ 142,195 $ 1,838 $ 75,090 MBSs (753 ) 190,000 (739 ) 118,000 Total $ 2,302 $ 1,099

BUSINESS - Narrative (Details)

BUSINESS - Narrative (Details)	6 Months Ended
	Jun. 30, 2019segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
Accounting Policies [Abstract]
Operating lease right of use assets	$ 33,399	$ 33,399		$ 27,384	$ 0	$ 0
Operating lease liabilities	$ 36,590	$ 36,590		$ 30,300	$ 0
Operating Lease, Weighted Average Discount Rate, Percent	5.795%	5.795%
Operating Lease, Payments	$ 2,200	$ 4,300
Operating lease expense	$ 2,300	$ 4,377	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Operating Lease (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
2019	$ 4,748
2020	8,663
2021	7,650
2022	6,259
2023	5,680
Thereafter	10,352
Total lease payments	43,352
Less: Interest	6,762
Operating lease liabilities	$ 36,590	$ 30,300	$ 0

BUSINESS COMBINATIONS - Summar

BUSINESS COMBINATIONS - Summary of Fair Value of Assets Acquired and Liabilities Created (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Oct. 02, 2018
Assets Acquired
Goodwill	$ 152,116	$ 152,116
AV Homes, Inc.
Assets Acquired
Real estate inventory			$ 778,174
Prepaid expenses and other assets			106,612
Deferred tax assets, net			71,411
Property and equipment			50,996
Goodwill			85,918
Total assets			1,093,111
Less Liabilities Assumed
Accrued expenses and other liabilities			94,308
Customer deposits			14,130
Estimated development liability(3)			37,230
Senior notes, net			412,520
Net assets acquired			534,923
AV Homes, Inc. | East
Assets Acquired
Goodwill			45,100
AV Homes, Inc. | Central Region
Assets Acquired
Goodwill			30,300
AV Homes, Inc. | West
Assets Acquired
Goodwill			$ 10,500

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income available to TMHC – basic	$ 81,851	$ 58,678	$ 132,982	$ 103,422
Net income attributable to non-controlling interest	0	474	0	3,133
Loss fully attributable to public holding company	0	84	0	248
Net income – diluted	$ 81,851	$ 59,236	$ 132,982	$ 106,803
Denominator:
Weighted average shares - basic (Class A) (in shares)	106,238	111,347	108,363	110,508
Conversion of Principal Equityholders Noncontrolling Interest ( in shares )	0	867	0	3,339
Restricted stock units (in shares)	684	898	850	1,068
Stock Options (in shares)	310	370	266	485
Weighted average shares - diluted (in shares)	107,232	113,482	109,479	115,400
Earnings per common share – basic:
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.77	$ 0.53	$ 1.23	$ 0.94
Earnings per common share – diluted:
Net income available to Taylor Morrison Home Corporation (usd per share)	$ 0.76	$ 0.52	$ 1.21	$ 0.93

BUSINESS COMBINATIONS - Unaudi

BUSINESS COMBINATIONS - Unaudited Pro Forma Results (Details) - AV Homes, Inc. - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Unaudited Pro Forma Results
Total revenues	$ 1,265,426	$ 1,184,388	$ 2,190,518	$ 2,088,729
Net income	81,888	62,291	133,169	107,480
Net income available to TMHC - Basic	81,851	61,677	132,982	104,078
Loss fully attributable to public holding company	0	84	0	248
Net income - Diluted	$ 81,851	$ 62,235	$ 132,982	$ 107,459
Weighted average shares - Basic (in shares)	106,238	120,471	108,363	119,380
Weighted average shares - Diluted (in shares)	107,232	122,606	109,479	124,272
Earnings per share - Basic (in USD per share)	$ 0.77	$ 0.51	$ 1.23	$ 0.87
Earnings per share - Diluted (in USD per share)	$ 0.76	$ 0.51	$ 1.21	$ 0.86
Corporate Joint Venture
Unaudited Pro Forma Results
Net income attributable to non-controlling interests	$ 37	$ 140	$ 187	$ 269
Former Principal Equityholders
Unaudited Pro Forma Results
Net income attributable to non-controlling interests	$ 0	$ 474	$ 0	$ 3,133

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
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 (in shares)	3,136,455	1,579,683	3,003,921	787,527

REAL ESTATE INVENTORY AND LAN_3

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Dec. 31, 2016
Real Estate [Abstract]
Real estate developed and under development	$ 2,848,148		$ 2,833,875
Real estate held for development or held for sale	96,755		61,415
Operating communities	1,016,418		973,985
Capitalized interest	111,802	$ 106,918	96,031	$ 95,693	$ 95,334	$ 95,693	$ 90,496
Total owned inventory	4,073,123		3,965,306
Real estate not owned	30,464		15,259
Total real estate inventory	$ 4,103,587		$ 3,980,565

REAL ESTATE INVENTORY AND LAN_4

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Development Status of Land Inventory (Detail) $ in Thousands	Jun. 30, 2019USD ($)lot	Dec. 31, 2018USD ($)lot
Inventory [Line Items]
Owned Lots (in lot) | lot	43,358	43,664
Book Value of Land and Development
Inventory [Line Items]
Raw | $	$ 496,155	$ 461,387
Partially developed | $	913,196	756,376
Finished | $	1,535,552	1,677,527
Total | $	$ 2,944,903	$ 2,895,290
Raw
Inventory [Line Items]
Owned Lots (in lot) | lot	13,708	9,653
Partially developed
Inventory [Line Items]
Owned Lots (in lot) | lot	13,454	12,036
Finished
Inventory [Line Items]
Owned Lots (in lot) | lot	16,196	21,975

REAL ESTATE INVENTORY AND LAN_5

REAL ESTATE INVENTORY AND LAND DEPOSITS - Narrative (Detail) $ in Millions	Jun. 30, 2019USD ($)lot	Dec. 31, 2018USD ($)lot
Real Estate [Abstract]
Right to purchase lots of land option (in lot) | lot	4,444	4,781
Aggregate purchase price	$ 284	$ 393.8
Non-refundable option deposits	$ 54.2	$ 57.9

REAL ESTATE INVENTORY AND LAN_6

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized - beginning of period	$ 106,918	$ 95,334	$ 96,031
Interest incurred	28,960	20,129	56,753	$ 39,815
Interest amortized to cost of home closings	(24,076)	(19,770)	(40,982)	(34,618)
Interest capitalized - end of period	$ 111,802	$ 95,693	$ 111,802	$ 95,693

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Narrative (Detail)	Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Maximum related and unrelated third parties ownership interests ( as a percent )	50.00%

INVESTMENTS IN UNCONSOLIDATED_4

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets:
Other assets	$ 890,453	$ 1,085,406
Liabilities and owners’ equity:
Debt	2,091,594	2,209,596
Equity Method Investments
Assets:
Real estate inventory	416,285	508,795
Other assets	111,947	125,436
Total assets	528,232	634,231
Liabilities and owners’ equity:
Debt	185,039	176,564
Other liabilities	17,014	16,061
Total liabilities	202,053	192,625
Owners’ equity:
TMHC	129,518	140,541
Others	196,661	301,075
Total owners’ equity	326,179	441,616
Total liabilities and owners’ equity	$ 528,232	$ 634,241

INVESTMENTS IN UNCONSOLIDATED_5

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Equity Method Investments [Line Items]
TMHC’s share in income of unconsolidated entities	$ 3,561	$ 4,017	$ 5,880	$ 7,263
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Revenues	98,252	76,629	159,268	135,703
Costs and expenses	(84,480)	(61,485)	(137,300)	(108,817)
Income of unconsolidated entities	13,772	15,144	21,968	26,886
TMHC’s share in income of unconsolidated entities	3,561	4,017	5,880	7,263
Distributions to TMHC from unconsolidated entities	$ 16,403	$ 12,230	$ 22,018	$ 13,263

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 17,381		$ 16,591
Compensation and employee benefits	55,817		73,955
Self-insurance and warranty reserves	81,111	$ 87,887	93,790	$ 53,011	$ 50,336	$ 51,010
Interest payable	17,586		21,385
Property and sales taxes payable	12,415		14,861
Other accruals	58,402		46,104
Total accrued expenses and other liabilities	$ 242,712		$ 266,686

ACCRUED EXPENSES AND OTHER LI_4

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Changes in Reserves (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Changes in Warranty Reserves
Reserve - beginning of period	$ 87,887	$ 50,336	$ 93,790	$ 51,010
Additions to reserves	11,286	10,282	16,897	15,325
Costs and claims incurred	(15,935)	(7,873)	(28,622)	(12,933)
Change in estimates to existing reserves	(2,127)	266	(954)	(391)
Reserve - end of period	$ 81,111	$ 53,011	$ 81,111	$ 53,011

ESTIMATED DEVELOPMENT LIABILI_2

ESTIMATED DEVELOPMENT LIABILITY - Narrative (Details)	Oct. 02, 2018lot
AV Homes, Inc.
Business Acquisition [Line Items]
Number of home sites acquired (more than)	8,000

DEBT - Summary of Senior Notes

DEBT - Summary of Senior Notes and Other Borrowings (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 05, 2019	Dec. 31, 2018	Oct. 02, 2018	Mar. 05, 2014
Debt Instrument [Line Items]
Principal	$ 2,092,355		$ 2,205,850
Unamortized Debt Issuance Costs For Senior Notes	(761)		3,746
Carrying Value	2,091,594		2,209,596
Letters of credit utilized	533,100		397,200
Loans payable and other borrowings
Debt Instrument [Line Items]
Principal	212,897		225,497
Unamortized Debt Issuance (Costs) / Premium	0		0
Carrying Value	212,897		225,497
Mortgage warehouse borrowings
Debt Instrument [Line Items]
Principal	79,458		130,353
Unamortized Debt Issuance (Costs) / Premium	0		0
Carrying Value	79,458		130,353
Revolving Credit Facility
Debt Instrument [Line Items]
Principal	0		0
Unamortized Debt Issuance (Costs) / Premium	0		0
Carrying Value	0		0
Unamortized debt issuance costs	2,200		2,700
Letters of credit utilized	79,800		62,300
Line of credit available	520,200		537,700
364-Day Credit Agreement
Debt Instrument [Line Items]
Principal	200,000		200,000
Unamortized Debt Issuance (Costs) / Premium	0		0
Carrying Value	200,000		200,000
Senior Notes
Debt Instrument [Line Items]
Principal	1,600,000		1,650,000
Unamortized Debt Issuance Costs For Senior Notes	(761)		3,746
Carrying Value	1,599,239		1,653,746
Senior Notes | 5.25% Senior Notes due 2021
Debt Instrument [Line Items]
Principal	0		550,000
Unamortized Debt Issuance (Costs) / Premium	0		(2,695)
Carrying Value	$ 0		547,305
Stated interest rate ( as a percent )	5.25%
Senior Notes | 6.625% Senior Notes due 2022 (1)
Debt Instrument [Line Items]
Principal	$ 400,000		400,000	$ 400,000
Unamortized Debt Issuance (Costs) / Premium	9,930		11,656
Carrying Value	$ 409,930		411,656
Stated interest rate ( as a percent )	6.625%			6.625%
Senior Notes | 5.875% Senior Notes due 2023
Debt Instrument [Line Items]
Principal	$ 350,000		350,000
Unamortized Debt Issuance (Costs) / Premium	(2,151)		(2,434)
Carrying Value	$ 347,849		347,566
Stated interest rate ( as a percent )	5.875%
Senior Notes | 5.625% Senior Notes due 2024
Debt Instrument [Line Items]
Principal	$ 350,000		350,000
Unamortized Debt Issuance (Costs) / Premium	(2,512)		(2,781)
Carrying Value	$ 347,488		347,219
Stated interest rate ( as a percent )	5.625%				5.625%
Senior Notes | 5.875% Senior Notes due 2027 (1)
Debt Instrument [Line Items]
Principal	$ 500,000		0
Unamortized Debt Issuance (Costs) / Premium	(6,028)		0
Carrying Value	$ 493,972		$ 0
Stated interest rate ( as a percent )	5.875%	5.875%
Warehouse B [Member] | LIBOR | Secured Debt
Debt Instrument [Line Items]
Interest Rate	1.75%

DEBT - 2021 Senior Notes (Detai

DEBT - 2021 Senior Notes (Detail) - 5.25% Senior Notes due 2021 - Senior Notes - USD ($)	Jun. 30, 2019	Jun. 05, 2019
Debt Instrument [Line Items]
Senior Notes issued amount		$ 550,000,000
Stated interest rate ( as a percent )	5.25%

DEBT - 2022 Senior Notes (Detai

DEBT - 2022 Senior Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 16, 2015	Jun. 30, 2019	Oct. 02, 2018
Debt Instrument [Line Items]
Principal	$ 2,205,850		$ 2,092,355
Long-term Debt	2,209,596		2,091,594
Senior Notes
Debt Instrument [Line Items]
Principal	1,650,000		1,600,000
Long-term Debt	1,653,746		1,599,239
Senior Notes | 6.625% Senior Notes due 2022 (1)
Debt Instrument [Line Items]
Principal	400,000		$ 400,000	$ 400,000
Stated interest rate ( as a percent )			6.625%	6.625%
Long-term Debt	$ 411,656		$ 409,930
Period Two | Senior Notes | 6.625% Senior Notes due 2022 (1)
Debt Instrument [Line Items]
Redemption price (as a percent)	103.313%	101.00%
Period Three | Senior Notes | 6.625% Senior Notes due 2022 (1)
Debt Instrument [Line Items]
Redemption price (as a percent)	101.656%
Period Four | Senior Notes | 6.625% Senior Notes due 2022 (1)
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%

DEBT - 2023 Senior Notes (Detai

DEBT - 2023 Senior Notes (Detail) - USD ($)	Dec. 31, 2018	Apr. 16, 2015	Jun. 30, 2019	Oct. 02, 2018
5.875% Senior Notes due 2023 | Unsecured Debt
Debt Instrument [Line Items]
Senior Notes issued amount		$ 350,000,000
Stated interest rate ( as a percent )		5.875%
Redemption price (as a percent)			100.00%
5.875% Senior Notes due 2023 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate ( as a percent )			5.875%
6.625% Senior Notes due 2022 (1) | Senior Notes
Debt Instrument [Line Items]
Stated interest rate ( as a percent )			6.625%	6.625%
Period Two | 6.625% Senior Notes due 2022 (1) | Senior Notes
Debt Instrument [Line Items]
Redemption price (as a percent)	103.313%	101.00%

DEBT - 2024 Senior Notes (Detai

DEBT - 2024 Senior Notes (Detail) - 5.625% Senior Notes due 2024 - Senior Notes - USD ($)	6 Months Ended
	Jun. 30, 2019	Mar. 05, 2014
Debt Instrument [Line Items]
Senior Notes issued amount		$ 350,000,000
Stated interest rate ( as a percent )	5.625%	5.625%
Redemption price (as a percent)	100.00%

DEBT - 2027 Senior Notes (Detai

DEBT - 2027 Senior Notes (Details) - USD ($)	Jun. 05, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2017
Debt Instrument [Line Items]
Transaction expenses	$ 2,200,000	$ 2,196,000	$ 0	$ 2,196,000	$ 0
5.25% Senior Notes due 2021 | Senior Notes
Debt Instrument [Line Items]
Senior Notes issued amount	$ 550,000,000
Stated interest rate ( as a percent )		5.25%		5.25%
5.875% Senior Notes due 2027 (1) | Senior Notes
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%
Senior Notes issued amount	$ 500,000,000
Stated interest rate ( as a percent )	5.875%	5.875%		5.875%

DEBT - Revolving Credit Facilit

DEBT - Revolving Credit Facility (Detail)	6 Months Ended
	Jun. 30, 2019USD ($)equity_cure_rightfiscal_quarter	Dec. 31, 2018USD ($)	Jun. 29, 2018USD ($)
Debt Instrument [Line Items]
Revolving credit facility borrowings	$ 200,000,000	$ 200,000,000
Letters of credit utilized	533,100,000	397,200,000
Revolving Credit Facility
Debt Instrument [Line Items]
Unamortized debt issuance costs	2,200,000	2,700,000
Letters of credit utilized	79,800,000	62,300,000
Line of credit available	520,200,000	$ 537,700,000
Revolving Credit Facility | Restated Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit			$ 600,000,000
Revolving credit facility borrowings	$ 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 | equity_cure_right	5

DEBT - 364 Day Credit Agreement

DEBT - 364 Day Credit Agreement (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal	$ 2,092,355,000	$ 2,205,850,000
364-Day Credit Agreement
Debt Instrument [Line Items]
Maximum capitalization ratio	60.00%
Principal	$ 200,000,000	$ 200,000,000
Minimum net worth required	$ 1,800,000,000

DEBT - Summary of Mortgage Ware

DEBT - Summary of Mortgage Warehouse Borrowings (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Amount Drawn	$ 79,458,000	$ 130,353,000
Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn	79,458,000	130,353,000
Facility Amount	140,000,000	230,000,000
Mortgage borrowings outstanding, collateralized amount	124,800,000	181,900,000
Collateralized amount of restricted short-term investments	1,100,000	1,600,000
Secured Debt | Warehouse A
Line of Credit Facility [Line Items]
Amount Drawn	6,518,000	29,484,000
Facility Amount	$ 15,000,000	$ 45,000,000
Expiration Date		30 days
Secured Debt | Warehouse A | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	1.75%	1.75%
Secured Debt | Warehouse B
Line of Credit Facility [Line Items]
Amount Drawn	$ 18,721,000	$ 38,164,000
Facility Amount	50,000,000	$ 85,000,000
Secured Debt | Warehouse B | LIBOR
Line of Credit Facility [Line Items]
Interest Rate		1.75%
Secured Debt | Warehouse C
Line of Credit Facility [Line Items]
Amount Drawn	54,219,000	$ 62,705,000
Facility Amount	$ 75,000,000	$ 100,000,000
Secured Debt | Warehouse C | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	1.95%	1.95%

DEBT - Loans Payable and Other

DEBT - Loans Payable and Other Borrowings (Detail) - Loans Payables	Jun. 30, 2019	Dec. 31, 2018
Minimum
Debt Instrument [Line Items]
Interest rate on loans payable ( as a percent )	0.00%	0.00%
Maximum
Debt Instrument [Line Items]
Interest rate on loans payable ( as a percent )	8.00%	8.00%

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 05, 2019	Dec. 31, 2018	Oct. 02, 2018	Mar. 05, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, net	$ 3,055		$ 1,838
Senior Notes | 5.25% Senior Notes due 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate ( as a percent )	5.25%
Senior Notes | 6.625% Senior Notes due 2022 (1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate ( as a percent )	6.625%			6.625%
Senior Notes | 5.875% Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate ( as a percent )	5.875%
Senior Notes | 5.625% Senior Notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate ( as a percent )	5.625%				5.625%
Senior Notes | 5.875% Senior Notes due 2027 (1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate ( as a percent )	5.875%	5.875%
Level 2 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	$ 124,805		181,897
Derivative assets, net	2,302		1,099
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 | 364-Day Credit Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	200,000		200,000
Level 2 | Carrying Value | Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	79,458		130,353
Level 2 | Carrying Value | Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	212,897		225,497
Level 2 | Carrying Value | Senior Notes | 5.25% Senior Notes due 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0		547,304
Level 2 | Carrying Value | Senior Notes | 6.625% Senior Notes due 2022 (1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	409,930		411,656
Level 2 | Carrying Value | Senior Notes | 5.875% Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	347,849		347,566
Level 2 | Carrying Value | Senior Notes | 5.625% Senior Notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	347,488		347,219
Level 2 | Carrying Value | Senior Notes | 5.875% Senior Notes due 2027 (1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	493,972		0
Level 2 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	124,805		181,897
Derivative assets, net	2,302		1,099
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 | 364-Day Credit Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	200,000		200,000
Level 2 | Estimated Fair Value | Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	79,458		130,353
Level 2 | Estimated Fair Value | Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	212,897		225,497
Level 2 | Estimated Fair Value | Senior Notes | 5.25% Senior Notes due 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0		544,500
Level 2 | Estimated Fair Value | Senior Notes | 6.625% Senior Notes due 2022 (1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	413,520		400,520
Level 2 | Estimated Fair Value | Senior Notes | 5.875% Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	367,500		337,750
Level 2 | Estimated Fair Value | Senior Notes | 5.625% Senior Notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	361,375		332,500
Level 2 | Estimated Fair Value | Senior Notes | 5.875% Senior Notes due 2027 (1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 508,750		$ 0

FAIR VALUE DISCLOSURES Fair Val

FAIR VALUE DISCLOSURES Fair Value of Assets Measured on a Nonrecurring Basis (Details) $ in Thousands	Jun. 30, 2019USD ($)
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Inventories	$ 5,545

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax [Line Items]
Income tax provision	$ 28,131	$ 19,993	$ 44,922	$ 31,699
Effective tax rate( as a percent )	25.60%	25.20%	25.20%	22.90%
Unrecognized tax benefits that would affect effective tax rate	$ 7,400		$ 7,400		$ 7,400
Potential interest and penalties accrued	800		800		$ 700
Domestic
Income Tax [Line Items]
Unrecognized tax benefits that would affect effective tax rate	$ 5,900		$ 5,900

STOCKHOLDERS_ EQUITY - Narrativ

STOCKHOLDERS’ EQUITY - Narrative (Detail) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)vote$ / sharesshares	Jun. 30, 2018USD ($)shares	May 29, 2019$ / sharesshares	Dec. 31, 2018$ / sharesshares	Oct. 26, 2018$ / shares
Class of Stock [Line Items]
Common stock, par value (usd per share) | $ / shares	$ 0.00001		$ 0.00001			$ 0.00001
Common stock, shares authorized (in shares)	400,000,000		400,000,000			400,000,000
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000		50,000,000	50,000,000
Preferred stock, par value (usd per share) | $ / shares	$ 0.00001		$ 0.00001		$ 0.00001	$ 0.00001
Stock Repurchase Program, Increase (Decrease) [Roll Forward]
Amount available for repurchase — beginning of period | $	$ 79,598	$ 95,902	$ 57,437	$ 95,902
Additional amount authorized for repurchase | $	0	0	100,000	100,000
Repurchase of common stock | $	(79,600)	0	(157,439)	(100,000)
Amount available for repurchase — end of period | $	$ 0	$ 95,902	$ 0	$ 95,902
Repurchase of common stock (in shares)	4,012,469		8,389,348
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (usd per share) | $ / shares					$ 0.00001		$ 0.00001
Common stock, shares authorized (in shares)					400,000,000
Stock Repurchase Program, Increase (Decrease) [Roll Forward]
Common Stock, Number of Voting Rights | vote			1
Repurchase of common stock (in shares)				7,588,771
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (usd per share) | $ / shares							$ 0.00001
Stock Repurchase Program, Increase (Decrease) [Roll Forward]
Common Stock, Number of Voting Rights | vote			1

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation		$ 29.7	$ 20.4
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)	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)	6,834,553	6,834,553
Minimum | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Maximum | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	4 years

STOCK BASED COMPENSATION - Summ

STOCK BASED COMPENSATION - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	$ 3,826	$ 2,747	$ 7,243	$ 6,290
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	983	944	1,886	2,185
Restricted stock units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	$ 2,843	$ 1,803	$ 5,357	$ 4,105

STOCK BASED COMPENSATION - Su_2

STOCK BASED COMPENSATION - Summary of Restricted Stock Unit Activity (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Restricted Stock Units and Performance Based Restricted Stock Units
Shares
Beginning balance (in shares)		1,925,364
Granted (in shares)		712,570
Vested (in shares)		(804,224)
Forfeited (in shares)		(42,096)
Ending balance (in shares)	1,791,614	1,791,614
Weighted Average Grant Date Fair Value
Outstanding, Beginning balance (usd per share)		$ 16.49
Granted (usd per share)		18.44
Vested (usd per share)		13.33
Forfeited (usd per share)		17.28
Outstanding, Ending balance (usd per share)	$ 18.78	$ 18.78
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Stock options
Weighted Average Grant Date Fair Value
Expiration period (in years)	10 years
Minimum | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Maximum | Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	4 years

STOCK BASED COMPENSATION - Su_3

STOCK BASED COMPENSATION - Summary of Stock Option Plan Activity (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Shares
Outstanding, Beginning balance (in shares) | shares	3,239,995
Granted (in shares) | shares	983,107
Exercised (in shares) | shares	(119,356)
Canceled/Forfeited (in shares) | shares	(50,935)
Outstanding, Ending balance (in shares) | shares	4,052,811
Options exercisable (in shares) | shares	2,047,978
Weighted Average Exercise Price Per Share
Outstanding, Beginning balance (usd per share) | $ / shares	$ 18.87
Granted (usd per share) | $ / shares	18.07
Exercised (usd per share) | $ / shares	15.96
Canceled/Forfeited (usd per share) | $ / shares	19.74
Outstanding, Ending balance (usd per share) | $ / shares	18.75
Options exercisable (usd per share) | $ / shares	$ 18.61

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 2,418,735	$ 2,346,545
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	284	0
Other comprehensive income	284	0
Gross amounts reclassified within AOCI	0	0
Balance, end of period	2,403,251	2,258,382
Total Post- Retirement Benefits Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	2,001	2,082
Gross amounts reclassified within AOCI	0	0
Balance, end of period	2,285	2,082
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	0	(45,205)
Gross amounts reclassified within AOCI	0	25,155
Balance, end of period	0	(20,050)
Non-controlling Interest - Former Principal Equityholders Reclassification
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	0	25,155
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other comprehensive income	0	0
Gross amounts reclassified within AOCI	0	(25,155)
Balance, end of period	0	0
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	2,001	(17,968)
Other comprehensive income	284
Balance, end of period	2,285	(17,968)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	284
Other comprehensive income	284	0
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other comprehensive income	$ 0	$ 0

REPORTING SEGMENTS - Reconcilia

REPORTING SEGMENTS - Reconciliation to Net Income (Loss) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)
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	$ 1,265,426	$ 980,828	$ 2,190,518	$ 1,733,161
Gross margin	233,774	178,711	405,814	321,813
Selling, general and administrative expenses	(124,817)	(100,065)	(228,700)	(187,080)
Equity in (loss)/income of unconsolidated entities	3,561	4,017	5,880	7,263
Interest and other (expense)/income, net	(2,499)	(3,378)	(4,903)	(3,473)
Income/(loss) before income taxes	110,019	79,285	178,091	138,523
Operating Segments | East
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	485,376	360,472	840,328	645,279
Gross margin	77,149	65,128	138,325	117,417
Selling, general and administrative expenses	(41,459)	(31,105)	(77,018)	(59,738)
Equity in (loss)/income of unconsolidated entities	0	128	0	239
Interest and other (expense)/income, net	(1,924)	(122)	(3,537)	(600)
Income/(loss) before income taxes	33,766	34,029	57,770	57,318
Operating Segments | Central
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	363,003	298,112	617,950	512,224
Gross margin	62,649	53,653	104,993	94,280
Selling, general and administrative expenses	(31,297)	(26,122)	(57,561)	(48,402)
Equity in (loss)/income of unconsolidated entities	(82)	374	(171)	755
Interest and other (expense)/income, net	251	(130)	(556)	(238)
Income/(loss) before income taxes	31,521	27,775	46,705	46,395
Operating Segments | West
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	394,228	305,978	693,377	545,186
Gross margin	84,202	54,816	147,399	100,840
Selling, general and administrative expenses	(24,976)	(20,061)	(45,540)	(35,626)
Equity in (loss)/income of unconsolidated entities	1,735	1,476	2,556	2,571
Interest and other (expense)/income, net	178	(101)	(211)	(81)
Income/(loss) before income taxes	61,139	36,130	104,204	67,704
Operating Segments | Financial Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenues	22,819	16,266	38,863	30,472
Gross margin	9,774	5,114	15,097	9,276
Selling, general and administrative expenses	0	0	0	0
Equity in (loss)/income of unconsolidated entities	1,926	2,039	3,335	3,698
Interest and other (expense)/income, net	0	0	0	0
Income/(loss) before income taxes	11,700	7,153	18,432	12,974
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	(27,085)	(22,777)	(48,581)	(43,314)
Equity in (loss)/income of unconsolidated entities	(18)	0	160	0
Interest and other (expense)/income, net	(1,004)	(3,025)	(599)	(2,554)
Income/(loss) before income taxes	$ (28,107)	$ (25,802)	$ (49,020)	$ (45,868)

REPORTING SEGMENTS - Summary of

REPORTING SEGMENTS - Summary of Assets by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 4,157,801	$ 4,038,494
Investments in unconsolidated entities	129,518	140,541
Other assets	890,453	1,085,406
Total assets	5,177,772	5,264,441
Operating Segments | East
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,939,618	1,862,756
Investments in unconsolidated entities	0	0
Other assets	162,776	162,339
Total assets	2,102,394	2,025,095
Operating Segments | Central
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,011,710	1,011,659
Investments in unconsolidated entities	35,411	35,476
Other assets	131,963	118,187
Total assets	1,179,084	1,165,322
Operating Segments | West
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,206,473	1,164,079
Investments in unconsolidated entities	89,827	100,693
Other assets	66,020	55,433
Total assets	1,362,320	1,320,205
Operating Segments | Financial Services
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	4,015	4,015
Other assets	199,152	236,291
Total assets	203,167	240,306
Corporate and Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	265	357
Other assets	330,542	513,156
Total assets	$ 330,807	$ 513,513

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds	$ 533.1	$ 397.2
Legal accruals	$ 7.6	$ 5.7

MORTGAGE HEDGING ACTIVITIES - N

MORTGAGE HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Fair Value	$ 2,302	$ 1,099
Total commitments to extend credit	157,100	83,400
IRLCs
Derivative [Line Items]
Fair Value	3,055	1,838
Notional Amount	142,195	75,090
MBSs
Derivative [Line Items]
Fair Value	(753)	(739)
Notional Amount	$ 190,000	$ 118,000
Minimum
Derivative [Line Items]
Derivative term	30 days
Maximum
Derivative [Line Items]
Derivative term	60 days

RELATED-PARTY TRANSACTIONS - Na

RELATED-PARTY TRANSACTIONS - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Related Party Transaction [Line Items]
Stock Repurchased During Period	$ 43.7
TPG [Member]
Related Party Transaction [Line Items]
Stock Repurchased During Period (in shares)	2.1	2.1
Stock Repurchased During Period		$ 43.7

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - USD ($)	Aug. 17, 2019	Jun. 05, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2017	Jul. 18, 2019	Oct. 02, 2018
Subsequent Event [Line Items]
Transaction expenses		$ 2,200,000	$ 2,196,000	$ 0	$ 2,196,000	$ 0
Senior Notes | 5.75 % Senior Notes | Subsequent Event
Subsequent Event [Line Items]
Senior Notes issued amount							$ 450,000,000
Stated interest rate ( as a percent )							5.75%
Senior Notes | 6.625% Senior Notes | Subsequent Event
Subsequent Event [Line Items]
Stated interest rate ( as a percent )							6.625%
Redemption price (as a percent)	103.313%
Transaction expenses	$ 3,800,000
Debt prepayment cost	13,300,000
Write off of Deferred Debt Issuance Cost	$ 9,500,000
Senior Notes | 6.625% Senior Notes due 2022 (1)
Subsequent Event [Line Items]
Stated interest rate ( as a percent )			6.625%		6.625%			6.625%
Senior Notes | 6.625% Senior Notes due 2022 (1) | Subsequent Event
Subsequent Event [Line Items]
Senior Notes issued amount							$ 400,000,000

Uncategorized Items - tmhc-0630

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,983,000
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,983,000