Taylor Morrison Home (TMHC) 10-Q 27 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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		113,659,175
Amendment Flag	false
Document Fiscal Year Focus	2022
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, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 378,340	$ 832,821
Restricted cash	953	3,519
Total cash, cash equivalents, and restricted cash	379,293	836,340
Owned inventory	5,975,551	5,444,207
Consolidated real estate not owned	70,817	55,314
Total real estate inventory	6,046,368	5,499,521
Land deposits	278,314	229,535
Mortgage loans held for sale	203,238	467,534
Derivative assets	4,918	2,110
Lease right of use assets	82,876	85,863
Prepaid expenses and other assets, net	157,252	314,986
Other receivables, net	171,737	150,864
Investments in unconsolidated entities	291,560	171,406
Deferred tax assets, net	151,240	151,240
Property and equipment, net	220,230	155,181
Goodwill	663,197	663,197
Total assets	8,650,223	8,727,777
Liabilities
Accounts payable	291,337	253,348
Accrued expenses and other liabilities	431,478	525,209
Lease liabilities	91,872	96,172
Income taxes payable	1,855	0
Customer deposits	579,945	485,705
Estimated development liabilities	38,280	38,923
Senior notes, net	2,173,998	2,452,322
Loans payable and other borrowings	447,191	404,386
Revolving credit facility borrowings	150,000	31,529
Mortgage warehouse borrowings	179,555	413,887
Liabilities attributable to consolidated real estate not owned	70,817	55,314
Total liabilities	4,456,328	4,756,795
COMMITMENTS AND CONTINGENCIES (Note 13)
Stockholders’ Equity
Total stockholders’ equity	4,193,895	3,970,982
Total liabilities and stockholders’ equity	$ 8,650,223	$ 8,727,777

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues	$ 1,995,023	$ 1,719,280	$ 3,698,147	$ 3,137,092
Total cost of revenue	1,453,543	1,390,577	2,763,539	2,533,948
Gross margin	541,480	328,703	934,608	603,144
Sales, commissions and other marketing costs	96,135	97,560	185,258	183,512
General and administrative expenses	69,407	69,997	137,549	131,550
Net loss/(income) from unconsolidated entities	3,637	(2,126)	1,806	(7,787)
Interest expense/(income), net	5,189	3	9,441	(116)
Other (income)/expense, net	(11,014)	45	(10,472)	1,020
Gain on extinguishment of debt, net	(13,471)	0	(13,471)	0
Income before income taxes	391,597	163,224	624,497	294,965
Income tax provision	98,443	38,469	152,882	67,767
Net income before allocation to non-controlling interests	293,154	124,755	471,615	227,198
Net income attributable to non-controlling interests	(2,167)	(608)	(3,925)	(5,030)
Net income available to Taylor Morrison Home Corporation	$ 290,987	$ 124,147	$ 467,690	$ 222,168
Earnings Per Share
Basic (in dollars per share)	$ 2.47	$ 0.97	$ 3.91	$ 1.73
Diluted (in dollars per share)	$ 2.45	$ 0.95	$ 3.87	$ 1.70
Weighted average number of shares of common stock:
Basic (in shares)	117,932	128,440	119,550	128,661
Diluted (in shares)	118,931	130,259	120,796	130,766
Home closings
Revenues	$ 1,883,020	$ 1,644,380	$ 3,527,429	$ 3,007,809
Total cost of revenue	1,381,610	1,331,041	2,646,584	2,441,283
Land closings
Revenues	36,816	32,057	52,426	36,946
Total cost of revenue	24,204	28,138	38,568	32,165
Financial Services
Revenues	35,471	37,392	70,670	81,457
Total cost of revenue	21,483	25,935	45,697	49,934
Amenity and other
Revenues	39,716	5,451	47,622	10,880
Total cost of revenue	$ 26,246	$ 5,463	$ 32,690	$ 10,566

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Comprehensive Income before non-controlling interests, net of tax	$ 293,154	$ 124,755	$ 471,615	$ 227,198
Comprehensive income attributable to non-controlling interests	(2,167)	(608)	(3,925)	(5,030)
Comprehensive income available to Taylor Morrison Home Corporation	$ 290,987	$ 124,147	$ 467,690	$ 222,168

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 Loss	Non-controlling Interest	Non-controlling Interest  Corporate Joint Venture
Balance, beginning of period (in shares) at Dec. 31, 2020			129,476,914
Balance, beginning of period at Dec. 31, 2020		$ 3,593,750	$ 1	$ 2,926,773	$ (446,856)	$ 1,025,789	$ (1,166)		$ 89,209
Balance, end of period, treasury shares (in shares) at Jun. 30, 2021					32,167,192
Increase (Decrease) in Stockholders' Equity
Net income		227,198				222,168			5,030
Other comprehensive income		0
Exercise of stock options (in shares)			631,626
Exercise of stock options		12,434		12,434
Issuance of restricted stock units, net of shares withheld for tax (in shares)	[1]		380,009
Issuance of restricted stock units, net of shares withheld for tax	[1]	(4,857)		(4,857)
Warrant exercises (in shares)			1,704,205
Warrant exercises		$ 32,584		32,584
Repurchase of common stock (in shares)		(5,256,737)	(5,256,737)		(5,256,737)
Repurchase of common stock		$ (145,172)			$ (145,172)
Common stock surrendered in connection with warrant exercise (in shares)			(1,025,699)		1,025,699
Common stock surrendered in connection with warrant exercises		(32,587)			$ (32,587)
Stock compensation expense		10,335		10,335
Distributions to non-controlling interests of consolidated joint ventures		(24,844)							(24,844)
Changes in non-controlling interests of consolidated joint ventures		8							8
Balance, end of period (in shares) at Jun. 30, 2021			125,910,318
Balance, end of period at Jun. 30, 2021		3,668,849	$ 1	2,977,269	$ (624,615)	1,247,957	(1,166)	$ 69,403
Balance, beginning of period, treasury shares (in shares) at Dec. 31, 2020					25,884,756
Balance, beginning of period (in shares) at Mar. 31, 2021			128,736,493
Balance, beginning of period at Mar. 31, 2021		3,655,564	$ 1	2,934,111	$ (485,274)	1,123,810	(1,166)	84,082
Balance, end of period, treasury shares (in shares) at Jun. 30, 2021					32,167,192
Increase (Decrease) in Stockholders' Equity
Net income		124,755				124,147		608
Exercise of stock options (in shares)			281,951
Exercise of stock options		6,113		6,113
Issuance of restricted stock units, net of shares withheld for tax (in shares)	[1]		22,796
Issuance of restricted stock units, net of shares withheld for tax	[1]	(193)		(193)
Warrant exercises (in shares)			1,704,205
Warrant exercises		$ 32,584		32,584
Repurchase of common stock (in shares)		(3,809,428)	(3,809,428)		(3,809,428)
Repurchase of common stock		$ (106,754)			$ (106,754)
Common stock surrendered in connection with warrant exercise (in shares)			(1,025,699)		1,025,699
Common stock surrendered in connection with warrant exercises		(32,587)			$ (32,587)
Stock compensation expense		4,654		4,654
Distributions to non-controlling interests of consolidated joint ventures		(16,883)						(16,883)
Changes in non-controlling interests of consolidated joint ventures		1,596						1,596
Balance, end of period (in shares) at Jun. 30, 2021			125,910,318
Balance, end of period at Jun. 30, 2021		3,668,849	$ 1	2,977,269	$ (624,615)	1,247,957	(1,166)	69,403
Balance, beginning of period, treasury shares (in shares) at Mar. 31, 2021					27,332,065
Balance, beginning of period (in shares) at Dec. 31, 2021			121,833,649
Balance, beginning of period at Dec. 31, 2021		3,970,982	$ 1	2,997,211	$ (760,863)	1,688,815	689		45,129
Balance, end of period, treasury shares (in shares) at Jun. 30, 2022					45,556,244
Increase (Decrease) in Stockholders' Equity
Net income		471,615				467,690			3,925
Exercise of stock options (in shares)			131,989
Exercise of stock options		2,912		2,912
Issuance of restricted stock units, net of shares withheld for tax (in shares)	[1]		402,772
Issuance of restricted stock units, net of shares withheld for tax	[1]	$ (3,645)		(3,645)
Repurchase of common stock (in shares)		(8,727,685)	(8,727,685)		(8,727,685)
Repurchase of common stock		$ (230,413)			$ (230,413)
Common stock surrendered in connection with warrant exercises		0
Stock compensation expense		12,141		12,141
Distributions to non-controlling interests of consolidated joint ventures		(28,928)							(28,928)
Changes in non-controlling interests of consolidated joint ventures		(769)							$ (769)
Balance, end of period (in shares) at Jun. 30, 2022			113,640,725
Balance, end of period at Jun. 30, 2022		4,193,895	$ 1	3,008,619	$ (991,276)	2,156,505	689	19,357
Balance, beginning of period, treasury shares (in shares) at Dec. 31, 2021					36,828,559
Balance, beginning of period (in shares) at Mar. 31, 2022			120,365,390
Balance, beginning of period at Mar. 31, 2022		4,094,798	$ 1	3,002,809	$ (818,892)	1,865,518	689	44,673
Balance, end of period, treasury shares (in shares) at Jun. 30, 2022					45,556,244
Increase (Decrease) in Stockholders' Equity
Net income		293,154				290,987		2,167
Exercise of stock options (in shares)			30,913
Exercise of stock options		556		556
Issuance of restricted stock units, net of shares withheld for tax (in shares)	[1]		23,920
Issuance of restricted stock units, net of shares withheld for tax	[1]	$ (24)		(24)
Repurchase of common stock (in shares)		(6,779,498)	(6,779,498)		(6,779,498)
Repurchase of common stock		$ (172,384)			$ (172,384)
Stock compensation expense		5,278		5,278
Distributions to non-controlling interests of consolidated joint ventures		(27,176)						(27,176)
Changes in non-controlling interests of consolidated joint ventures		(307)						(307)
Balance, end of period (in shares) at Jun. 30, 2022			113,640,725
Balance, end of period at Jun. 30, 2022		$ 4,193,895	$ 1	$ 3,008,619	$ (991,276)	$ 2,156,505	$ 689	$ 19,357
Balance, beginning of period, treasury shares (in shares) at Mar. 31, 2022					38,776,746
[1]Dollar amount represents the value of shares withheld for taxes.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before allocation to non-controlling interests	$ 471,615	$ 227,198
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Net loss/(income) from unconsolidated entities	1,806	(7,787)
Stock compensation expense	12,141	10,335
Gain on extinguishment of debt, net	(13,471)	0
Gain on land transfers	(13,700)	0
Distributions of earnings from unconsolidated entities	4,252	7,210
Depreciation and amortization	17,758	19,798
Operating lease expense	13,632	7,958
Debt issuance costs amortization	544	236
Change in Urban Form assets due to sale	11,675	0
Changes in operating assets and liabilities:
Real estate inventory and land deposits	(667,846)	(483,490)
Mortgages held for sale, prepaid expenses and other assets	305,465	(149,748)
Customer deposits	94,240	170,055
Accounts payable, accrued expenses and other liabilities	(44,476)	94,805
Income taxes payable	1,855	5,836
Net cash provided by/(used in) operating activities	195,490	(97,594)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(12,801)	(20,523)
Distributions of capital from unconsolidated entities	86,576	13,132
Investments of capital into unconsolidated entities	(69,582)	(14,643)
Net cash provided by/(used in) investing activities	4,193	(22,034)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in loans payable and other borrowings	29,877	72,295
Repayments on loans payable and other borrowings	(45,226)	(44,231)
Borrowings on revolving credit facilities	182,548	0
Repayments on revolving credit facilities	(64,077)	0
Borrowings on mortgage warehouse facilities	1,193,232	1,499,258
Repayments on mortgage warehouse facilities	(1,427,564)	(1,411,317)
Repayments on senior notes	(264,111)	0
Proceeds from stock option exercises	2,912	12,434
Payment of principal portion of finance lease	(1,335)	(1,325)
Repurchase of common stock, net	(230,413)	(145,172)
Payment of taxes related to net share settlement of equity awards	(3,645)	(5,483)
Cash and distributions to non-controlling interests of consolidated joint ventures, net	(28,928)	(22,819)
Net cash used in financing activities	(656,730)	(46,360)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(457,047)	(165,988)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	836,340	534,109
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period	379,293	368,121
SUPPLEMENTAL CASH FLOW INFORMATION:
Income tax payments	(112,167)	(61,404)
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Change in loans payable issued to sellers in connection with land purchase contracts	159,637	121,380
Change in inventory not owned	15,503	(59,056)
Investments of land in unconsolidated joint ventures, net	143,206	0
Net non-cash distributions from non-controlling interests	0	(2,025)
Common stock surrendered in connection with warrant exercises	0	32,587
Common stock issued in connection with warrant exercises	$ 0	$ (32,584)

BUSINESS

BUSINESS	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS 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. We operate in the states of Arizona, California, Colorado, Florida, Georgia, Nevada, North and South Carolina, Oregon, Texas, and Washington. We provide an assortment of homes across a wide range of price points to appeal to an array of consumer groups. We design, build and sell single and multi-family detached and attached homes in traditionally high growth markets for entry level, move-up and 55-plus active lifestyle (formerly referred to as active adult) buyers. We are the general contractors for all real estate projects and retain subcontractors for home construction and land development. Our homebuilding segments operate under our Taylor Morrison, Darling Homes Collection by Taylor Morrison, and Esplanade brand names. We also have an exclusive partnership with Christopher Todd Communities, a growing Phoenix-based developer of innovative, luxury rental communities to operate a “Build-to-Rent” homebuilding business. We serve as a land acquirer, developer, and homebuilder while Christopher Todd Communities provides community design and property management consultation. In addition, we develop and construct multi-use properties consisting of commercial space, retail, and multi-family properties under the “Urban Form” brand. We also have operations which provide financial services to customers through our wholly owned mortgage subsidiary, Taylor Morrison Home Funding, Inc. (“TMHF”), title services through our wholly owned title services subsidiary, Inspired Title Services, LLC (“Inspired Title”), and homeowner’s insurance policies through our insurance agency, Taylor Morrison Insurance Services, LLC (“TMIS”). 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
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, 2021 (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. 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” 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 unaudited Condensed Consolidated Financial Statements and these accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of goodwill, valuation of development liabilities, 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. Goodwill — The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC Topic 350, Intangibles — Goodwill and Other . ASC 350 requires that goodwill and intangible assets that do not have finite lives not be amortized, but rather assessed for impairment at least annually or more frequently if certain impairment indicators are present. We perform our annual impairment test during the fourth quarter or whenever impairment indicators are present. We did not perform an impairment test during the second quarter of 2022 as indicators of impairment were not present. 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, and real estate taxes are allocated to homes and units generally using the relative sales value method. Generally, all overhead costs relating to purchasing, vertical construction of a home, and construction utilities are considered overhead costs and allocated on a per unit basis. 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. The life cycle of a typical community generally ranges from two 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 on a community-level basis during each reporting period. If indicators of impairment are present for a community, an undiscounted cash flow analysis is generally prepared in order to determine if the carrying value of the assets in that community exceeds the estimated undiscounted cash flows. Generally, if the carrying value of the assets exceeds their estimated undiscounted cash flows, the assets are potentially impaired, requiring a fair value analysis. 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. However, fair value can be determined through other methods, such as appraisals, contractual purchase offers, and other third party opinions of value. 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, 2022 and 2021, 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, 2022 and December 31, 2021, we had no inactive projects. In the ordinary course of business, we enter into various option agreements to acquire lots in staged takedowns which may require a significant cash deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots are not purchased. Real estate not owned under these agreements is reflected in Consolidated real estate not owned with a corresponding liability in Liabilities attributable to consolidated real estate not owned in the Condensed Consolidated Balance Sheets. Land held for sale — In some locations where we act as a developer, we occasionally purchase land that includes commercially zoned parcels or areas designated for school or government use, which we typically sell to commercial developers or municipalities, as applicable. We also sell residential lots or land parcels to manage our land and lot supply on larger tracts of land. Land is considered held for sale once management intends to actively sell a parcel within the next 12 months or the parcel is under contract to sell. Land held for sale is recorded at the lower of cost or fair value less costs to sell. In determining the value of land held for sale, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record fair value adjustments for land held for sale within Cost of land closings on the Condensed Consolidated Statements of Operations. Land banking arrangements — We have land purchase agreements with various land sellers. As a method of acquiring land in staged takedowns, while limiting risk and minimizing the use of funds from our available cash or other financing sources, we may transfer our right under certain specific performance agreements to entities owned by third parties (“land banking arrangements”). These entities use equity contributions from their owners and/or incur debt to finance the acquisition and development of the land. The entities grant us an option to acquire lots in staged takedowns. In consideration for this option, we make a non-refundable deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots were not purchased. We do not have an ownership interest in these entities or title to their assets and do not guarantee their liabilities. These land banking arrangements help us manage the financial and market risk associated with land holdings. Investments in Consolidated and Unconsolidated Entities Consolidated Entities — In the ordinary course of business, we enter into land purchase contracts, lot option contracts and land banking arrangements in order to procure land or lots for the construction of homes. Such contracts enable us to control significant lot positions with a minimal initial capital investment and substantially reduce the risks associated with land ownership and development. In accordance with ASC Topic 810, Consolidation , we have concluded that when we enter into these agreements to acquire land or lots and pay a non-refundable deposit, a Variable Interest Entity (“VIE”) may be created because we are deemed to have provided subordinated financial support that will absorb some or all of an entity’s expected losses if they occur. If we are the primary beneficiary of the VIE, we will consolidate the VIE and reflect such assets and liabilities as Consolidated real estate not owned within our real estate inventory balance in the Condensed Consolidated Balance Sheets. Unconsolidated Joint Ventures — We use the equity method of accounting for entities over which we exercise significant influence but do not have a controlling interest over the operating and financial policies of the investee. For unconsolidated entities in which we function as the managing member, we have evaluated the rights held by our joint venture partners and determined that the partners have substantive participating rights that preclude the presumption of control. Our share of net earnings or losses is included in Net loss/income from unconsolidated entities when earned and distributions are credited against our investment in the joint venture when received. These joint ventures are recorded in Investments in unconsolidated entities on the Consolidated Balance Sheets. We evaluate our investments in unconsolidated entities for indicators of impairment semi-annually. 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, if any, is the excess of the investment's carrying amount over its estimated fair value. Additionally, we consider various qualitative factors to determine if a decrease in the value of the investment is other-than-temporary. These factors include age of the venture, stage in its life cycle, intent and ability for us to recover our investment in the entity, financial condition and long-term prospects of the entity, short-term liquidity needs of the unconsolidated entity, trends in the general economic environment of the land, entitlement status of the land held by the unconsolidated entity, overall projected returns on investment, defaults under contracts with third parties (including bank debt), recoverability of the investment through future cash flows and relationships with the other partners. If we believe that the decline in the fair value of the investment is temporary, then no impairment is recorded. We recorded no material impairment charges related to the investments in unconsolidated entities for the three and six months ended June 30, 2022 and 2021. Revenue Recognition — We recognize revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“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, if any, 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 such as golf courses, club houses, and fitness centers, which require us to provide club members with access to the facilities in exchange for the payment of club dues. We collect club dues and other fees from the club members, which are invoiced on a monthly basis. Revenue from our golf club operations is also included in amenity and other revenue. Amenity and other revenue also includes revenue from the sale of assets which include multi-use properties as part of our Urban Form operations. 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, which is usually upon the close of escrow. All of the loans TMHF originates are sold to third party investors within a short period of time, on a non-recourse basis. Gains and losses from the sale of mortgages are recognized in accordance with ASC Topic 860-20, Sales of Financial Assets. TMHF does not have continuing involvement with the transferred assets; therefore, we derecognize the mortgage loans at time of sale, based on the difference between the selling price and carrying value of the related loans upon sale, recording a gain/loss on sale in the period of sale. Also included in Financial services revenue/expenses are realized and unrealized gains and losses from hedging instruments. Recently Issued Accounting Pronouncements — In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients for applying U.S. GAAP to contracts affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The guidance was effective beginning March 12, 2020 and entities may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the effect of adopting the new guidance on our consolidated financial statements and related disclosures. However, we do not believe the effect of adopting will have a material impact.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
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 Six Months Ended 2022 2021 2022 2021 Numerator: Net income available to TMHC $ 290,987 $ 124,147 $ 467,690 $ 222,168 Denominator: Weighted average shares – basic 117,932 128,440 119,550 128,661 Restricted stock units 513 801 667 892 Stock Options 486 824 579 834 Warrants — 194 — 379 Weighted average shares – diluted 118,931 130,259 120,796 130,766 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 2.47 $ 0.97 $ 3.91 $ 1.73 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 2.45 $ 0.95 $ 3.87 $ 1.70 The above calculations of weighted average shares exclude 2,176,897 and 1,462,766 anti-dilutive stock options and unvested restricted stock units (“RSUs”) for the three and six months ended June 30, 2022, respectively, and 1,133,597 and 982,940 anti-dilutive stock options and unvested RSUs for the three and six months ended June 30, 2021, respectively.

REAL ESTATE INVENTORY AND LAND

REAL ESTATE INVENTORY AND LAND DEPOSITS	6 Months Ended
	Jun. 30, 2022
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, 2021 Real estate developed and under development $ 3,879,560 $ 3,895,681 Real estate held for development or held for sale (1) 72,411 70,305 Operating communities (2) 1,838,216 1,309,551 Capitalized interest 185,364 168,670 Total owned inventory 5,975,551 5,444,207 Consolidated real estate not owned 70,817 55,314 Total real estate inventory $ 6,046,368 $ 5,499,521 (1) Real estate held for development or held for sale includes properties which are not in active production. This includes raw land recently purchased or awaiting entitlement, and, if applicable, long-term strategic assets. (2) Operating communities consist of all vertical construction costs relating to homes in progress and completed homes. The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2022 December 31, 2021 Owned Lots Book Value of Land Owned Lots Book Value of Land Homebuilding owned lots Raw 3,801 $ 172,327 4,017 $ 178,952 Partially developed 24,641 1,619,200 24,636 1,568,967 Finished 19,939 2,145,750 19,360 2,119,128 Total homebuilding owned lots 48,381 3,937,277 48,013 3,867,047 Other assets (1) — 14,694 5,298 98,939 Total owned lots 48,381 $ 3,951,971 53,311 $ 3,965,986 (1) The remaining book value of land and development as of June 30, 2022 relates to parcels of commercial assets which are . excluded from the owned lots presented in the table. We have land option purchase contracts, land banking arrangements and other controlled lot agreements. We do not have title to the properties, and the creditors of the property owner generally only have recourse against us in the form of retaining any non-refundable deposits. We are also not legally obligated to purchase the balance of the lots. Deposits related to these lots are capitalized when paid and classified as Land deposits until the associated property is purchased. The table below presents a summary of our controlled lots for the following periods (dollars in thousands): As of June 30, 2022 December 31, 2021 Controlled Lots Purchase Price Land Deposit (1) Controlled Lots Purchase Price Land Deposit (1) Homebuilding controlled lots Land option purchase contracts 6,805 $ 390,373 $ 49,587 8,360 $ 507,161 $ 57,554 Land banking arrangements 7,173 1,063,392 157,433 5,731 749,813 117,721 Other controlled lots 19,972 1,243,367 61,241 14,671 1,338,284 38,505 Total controlled lots 33,950 $ 2,697,132 $ 268,261 28,762 $ 2,595,258 $ 213,780 (1) Land deposits noted are all non-refundable and represent our exposure to loss related to our contracts with third parties, unconsolidated entities, and land banking arrangements. . In addition, at June 30, 2022 and December 31, 2021 we had refundable deposits of $10.1 million and $15.7 million respectively. Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Interest capitalized - beginning of period $ 177,969 $ 174,174 $ 168,670 $ 163,780 Interest incurred and capitalized 40,815 40,416 80,544 78,135 Interest amortized to cost of home closings (33,420) (34,070) (63,850) (61,395) Interest capitalized - end of period $ 185,364 $ 180,520 $ 185,364 $ 180,520

INVESTMENTS IN CONSOLIDATED AND

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES Unconsolidated Entities We have investments in a number of joint ventures with third parties. These entities are generally involved in real estate development, homebuilding, Build-to-Rent, and/or mortgage lending activities. The primary activity of the real estate development joint ventures is development and sale of lots to joint venture partners and/or 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. During the quarter ended June 30, 2022, we transferred land at fair value as part of an investment in two new joint ventures with third parties. In accordance with ASC 606 this was considered a transfer as we have no continuing involvement and the joint venture obtained title, physical possession, maintains risks and rewards of the property and has accepted the property. Included in Other (income)/expense, net on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2022 is a $13.7 million gain related to these transfers and represents the difference between the fair value and carrying value of the land at the time of contribution. Summarized, unaudited combined financial information of unconsolidated entities that are accounted for by the equity method are as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 668,474 $ 414,687 Other assets 129,062 118,990 Total assets $ 797,536 $ 533,677 Liabilities and owners’ equity: Debt $ 130,284 $ 167,842 Other liabilities 23,169 16,245 Total liabilities 153,453 184,087 Owners’ equity: TMHC 291,560 171,406 Others 352,523 178,184 Total owners’ equity 644,083 349,590 Total liabilities and owners’ equity $ 797,536 $ 533,677 Three Months Ended Six Months Ended 2022 2021 2022 2021 Revenues $ 94,166 $ 29,745 $ 124,567 $ 79,626 Costs and expenses (94,086) (22,901) (119,016) (57,059) Income of unconsolidated entities $ 80 $ 6,844 $ 5,551 $ 22,567 TMHC’s share in (loss)/income of unconsolidated entities $ (3,637) $ 2,126 $ (1,806) $ 7,788 Distributions to TMHC from unconsolidated entities $ 88,770 $ 9,729 $ 90,828 $ 20,342 Consolidated Entities We have several joint ventures for the purpose of real estate development and homebuilding activities, which we have determined to be VIEs. As the managing member, we oversee the daily operations and have the power to direct the activities of the VIEs, or joint ventures. For this specific subset of joint ventures, based upon the allocation of income and loss per the applicable joint venture agreements and certain performance guarantees, we have potentially significant exposure to the risks and rewards of the joint ventures. Therefore, we are the primary beneficiary of these joint venture VIEs, and these entities are consolidated.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2022
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 $ 45,974 $ 49,833 Compensation and employee benefits 103,291 166,272 Self-insurance and warranty reserves 137,491 141,839 Interest payable 40,977 48,551 Property and sales taxes payable 25,053 29,384 Other accruals 78,692 89,330 Total accrued expenses and other liabilities $ 431,478 $ 525,209 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 2022 2021 2022 2021 Reserve - beginning of period $ 140,970 $ 116,406 $ 141,839 $ 118,116 Additions to reserves 23,519 18,394 32,403 30,784 Cost of claims incurred (27,729) (19,067) (40,202) (34,931) Changes in estimates to pre-existing reserves 731 388 3,451 2,152 Reserve - end of period $ 137,491 $ 116,121 $ 137,491 $ 116,121

DEBT

DEBT	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Total debt consists of the following (in thousands): As of June 30, 2022 December 31, 2021 Principal Unamortized Debt Issuance (Costs)/Premium Carrying Value Principal Unamortized Debt Issuance (Costs)/Premium Carrying Value 5.875% Senior Notes due 2023 $ 350,000 $ (449) $ 349,551 $ 350,000 $ (733) $ 349,267 5.625% Senior Notes due 2024 350,000 (897) 349,103 350,000 (1,166) 348,834 5.875% Senior Notes due 2027 500,000 (3,851) 496,149 500,000 (4,243) 495,757 6.625% Senior Notes due 2027 35,889 1,928 37,817 300,000 17,718 317,718 5.75% Senior Notes due 2028 450,000 (3,498) 446,502 450,000 (3,814) 446,186 5.125% Senior Notes due 2030 500,000 (5,124) 494,876 500,000 (5,440) 494,560 Senior Notes subtotal $ 2,185,889 $ (11,891) $ 2,173,998 $ 2,450,000 $ 2,322 $ 2,452,322 Loans payable and other borrowings 447,191 — 447,191 404,386 — 404,386 $800 Million Revolving Credit Facility (1) 150,000 — 150,000 — — — $100 Million Revolving Credit Facility (1) — — — 31,529 — 31,529 Mortgage warehouse borrowings 179,555 — 179,555 413,887 — 413,887 Total debt $ 2,962,635 $ (11,891) $ 2,950,744 $ 3,299,802 $ 2,322 $ 3,302,124 (1) The $800 Million Revolving Credit Agreement together with the $100 Million Revolving Credit Agreement, the “Credit Facilities” Debt Instruments Excluding the debt instruments discussed below, the terms governing all other debt instruments listed in the table above have not substantially changed from the year ended December 31, 2021. For information regarding such instruments, refer to Note 8 to the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2021. As of June 30, 2022, we were in compliance with all of the covenants in the debt instruments listed in the table above. 6.625% Senior Notes due 2027 Following our exchange offer in the first quarter of 2020 (the “Exchange Offer”), whereby Taylor Morrison Communities, Inc (“TM Communities”) offered to exchange any and all outstanding senior notes issued by William Lyon Homes (“WLH”), we had $290.4 million aggregate principal amount of 6.625% Senior Notes due 2027 issued by TM Communities (the “2027 6.625% TM Communities Notes”) and $9.6 million aggregate principal amount of 6.625% Senior Notes due 2027 issued by WLH (the “2027 6.625% WLH Notes” and together with the 2027 6.625% TM Communities Notes, the “2027 6.625% Senior Notes”). The 2027 6.625% TM Communities Notes are obligations of TM Communities and are guaranteed by Taylor Morrison Home III Corporation, Taylor Morrison Holdings, Inc. and their homebuilding subsidiaries (collectively, the “Guarantors”). In connection with the consummation of the Exchange Offer, WLH entered into a supplemental indenture to eliminate substantially all of the covenants in the indenture governing the 2027 6.625% WLH Notes, including the requirements to offer to purchase such notes upon a change of control, and to eliminate certain other restrictive provisions and events that constitute an “Event of Default” in such indenture. On June 13, 2022, TM Communities announced a cash tender offer to purchase any and all of the $290.4 million outstanding aggregate principal amount of the 2027 6.625% TM Communities Notes (the “Tender Offer”), which expired July 12, 2022. As of June 30, 2022, TM Communities had purchased $264.1 million of the 2027 6.625% TM Communities Notes pursuant to the Tender Offer using cash on hand and borrowings on our $800 Million Revolving Credit Facility at a price equal to 100% of the principal amount, plus accrued and unpaid interest up to, but excluding, the settlement date. As a result of the Tender Offer, we recorded a total net gain on extinguishment of debt of approximately $13.5 million on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2022. Subsequent to quarter end, TM Communities repurchased an additional $0.8 million of the 2027 6.625% TM Communities Notes at a price equal to 97% of the principal amount , resulting in a total of $265.0 million in aggregate principal amount of outstanding 2027 6.625% TM Communities Notes being repurchased pursuant to the Tender Offer. In connection with the Tender Offer, TM Communities also solicited consents from holders of the 2027 6.625% TM Communities Notes to amend the indenture governing such notes to, among other things, eliminate substantially all of the restrictive covenants of the indenture (the “Proposed Amendments”). As of June 27, 2022, TM Communities had received the requisite consents to effect the Proposed Amendments and, as a result, a supplemental indenture was executed to effect the Proposed Amendments, which became effective on June 29, 2022. The remaining 2027 6.625% Senior Notes mature on July 15, 2027. Prior to July 15, 2022, the remaining 2027 6.625% Senior Notes were redeemable in whole or in part at a redemption price equal to 100% of the principal amount plus a “make-whole” premium, and accrued and unpaid interest, if any, to, but not including, the redemption date. On or after July 15, 2022, the remaining 2027 6.625% Senior Notes are redeemable at a price equal to 103.313% of principal (plus accrued and unpaid interest). On or after July 15, 2023, the 2027 6.625% Senior Notes are redeemable at a price equal to 102.208% of principal (plus accrued and unpaid interest). On or after July 31, 2024, the 2027 6.625% Senior Notes are redeemable at a price equal to a 101.104% of principal (plus accrued and unpaid interest). On or after July 15, 2025, the remaining 2027 6.625% Senior Notes are redeemable at a price equal to 100% of principal (plus accrued and unpaid interest). $800 Million Revolving Credit Facility On March 11, 2022, we amended our $800 Million Revolving Credit Facility, which extends the maturity date from February 6, 2024 to March 11, 2027 and includes reduced pricing upon meeting lower capitalization ratios. The facility remains guaranteed by the Guarantors. In connection with our Tender Offer, we have borrowed $150.0 million under our $800 Million Revolving Credit Facility which remained outstanding as of June 30, 2022. We had no outstanding borrowings as of December 31, 2021. As of June 30, 2022 and December 31, 2021, we had $3.0 million and $1.1 million, respectively, of unamortized debt issuance costs relating to our $800 Million Revolving Credit Facility, which are included in Prepaid expenses and other assets, net, on the Condensed Consolidated Balance Sheets. As of June 30, 2022 and December 31, 2021, we had $66.3 million and $58.7 million, respectively, of utilized letters of credit, resulting in $583.7 million and $741.3 million, respectively, of availability under the $800 Million Revolving Credit Facility. The $800 Million 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 $2.5 billion. The financial covenants would be in effect for any fiscal quarter during which any (a) loans under the $800 Million 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 $800 Million Revolving Credit Facility in an aggregate amount greater than $40.0 million or unreimbursed letters of credit issued under the $800 Million Revolving Credit Facility are outstanding on the last day of such fiscal quarter or for more than five The $800 Million Revolving Credit Facility contains certain restrictive covenants including limitations on incurrence of liens, the payment of 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 $800 Million 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, 2022, we were in compliance with all of the covenants under the $800 Million Revolving Credit Facility. Mortgage Warehouse Borrowings The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2022 Facility Amount Facility Interest Rate (1) Expiration Date Collateral (2) Warehouse A $ 4,538 $ 10,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 20,143 75,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 43,170 125,000 LIBOR + 1.95% On Demand Mortgage Loans and Restricted Cash Warehouse D 52,733 100,000 LIBOR + 1.65% November 20, 2022 Mortgage Loans Warehouse E 58,971 100,000 LIBOR + 1.50% On Demand Mortgage Loans Total $ 179,555 $ 410,000 As of December 31, 2021 Facility Amount Drawn Facility Amount Interest Rate (1) Expiration Date Collateral (2) Warehouse A $ 12 $ 10,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 86,409 150,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 116,601 250,000 LIBOR + 2.05% On Demand Mortgage Loans and Restricted Cash Warehouse D 105,065 150,000 LIBOR + 1.65% November 20, 2022 Mortgage Loans Warehouse E 105,800 200,000 LIBOR + 1.50% On Demand Mortgage Loans Total $ 413,887 $ 760,000 (1) Subject to certain interest rate floors. (2) The mortgage warehouse borrowings outstanding as of June 30, 2022 and December 31, 2021 were collateralized by $203.2 million and $467.5 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale, and approximately $0.9 million and $3.5 million, respectively, of cash which is restricted cash on our Condensed Consolidated Balance Sheet. Loans Payable and Other Borrowings

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES 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 and liabilities 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 Credit Facilities approximate carrying value due to their short term nature and variable interest rate terms. The fair value of our Senior Notes is derived from quoted market prices by independent dealers in markets that are not active. The fair value of our Equity Security Investment in a public company is based upon quoted prices for identical assets in an active market. 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, 2022, when compared to December 31, 2021. The carrying value and fair value of our financial instruments are as follows: June 30, 2022 December 31, 2021 (Dollars in thousands) Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 203,238 $ 203,238 $ 467,534 $ 467,534 IRLCs 3 4,918 4,918 2,110 2,110 MBSs 2 (1,330) (1,330) (449) (449) Mortgage warehouse borrowings 2 179,555 179,555 413,887 413,887 Loans payable and other borrowings 2 447,191 447,191 404,386 404,386 5.875% Senior Notes due 2023 (1) 2 349,551 349,125 349,267 365,890 5.625% Senior Notes due 2024 (1) 2 349,103 340,270 348,834 372,750 5.875% Senior Notes due 2027 (1) 2 496,149 460,850 495,757 560,000 6.625% Senior Notes due 2027 (1) 2 37,817 34,378 317,718 315,750 5.75% Senior Notes due 2028 (1) 2 446,502 403,785 446,186 502,875 5.125% Senior Notes due 2030 (1) 2 494,876 415,250 494,560 550,000 $800 Million Revolving Credit Facility 2 150,000 150,000 — — $100 Million Revolving Credit Facility 2 — — 31,529 31,529 Equity Security Investment 1 2,180 2,180 6,400 6,400 (1)

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe effective tax rate for the three and six months ended June 30, 2022 was 25.1% and 24.5%, respectively, compared to 23.6% and 23.0%, respectively, for the same periods in 2021. For both the three and six months ended June 30, 2022 and 2021 the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, non-deductible executive compensation, excess tax benefits related to stock-based compensation and special deductions and credits relating to prior homebuilding activities. At both June 30, 2022 and December 31, 2021, there were no unrecognized tax benefits.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Capital Stock The Company’s 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. Stock Repurchase Program On May 31, 2022, the Board of Directors authorized a new stock repurchase program which permits the Company to repurchase up to $500.0 million of the Company's Common Stock until December 31, 2023. The new stock repurchase program replaced the Company’s prior $250.0 million repurchase program, which had been scheduled to expire on June 30, 2024. Repurchases under the new program may occur from time to time through open market purchases, privately negotiated transactions or other transactions. The timing, manner, price and amount of any common stock repurchases will be determined by us in our discretion and will depend on a variety of factors, including prevailing market conditions, our liquidity, the terms of our debt instruments, legal requirements, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements. The program does not require us to repurchase any specific number of shares of common stock, and the program may be suspended, extended, modified or discontinued at any time. The following table summarizes share repurchase activity for the periods presented: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Amount available for repurchase — beginning of period $ 172,384 $ 48,413 $ 230,413 $ 86,831 Amount cancelled from expired or unused authorizations (75,000) — (75,000) — Additional amount authorized for repurchase 500,000 250,000 500,000 250,000 Amount repurchased (172,384) (106,754) (230,413) (145,172) Amount available for repurchase — end of period $ 425,000 $ 191,659 $ 425,000 $ 191,659

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
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 2022. The Plan provides for the grant of stock options, restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”), and other equity-based awards deliverable in shares of our Common Stock. As of June 30, 2022, we had an aggregate of 5,498,968 shares of Common Stock available for future grants under the Plan. The following table provides the outstanding balance of time-based and performance based RSUs and stock options as of June 30, 2022: Restricted Stock Units Stock Options Units Weighted Average Units Weighted Balance at June 30, 2022 1,633,914 $ 27.34 3,499,994 $ 23.15 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 Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Restricted stock units (1) $ 4,137 $ 3,615 $ 9,918 $ 8,362 Stock options 1,141 1,039 2,223 1,973 Total stock compensation $ 5,278 $ 4,654 $ 12,141 $ 10,335 (1) Includes compensation expense related to time-based RSUs and performance-based RSUs. At June 30, 2022 and December 31, 2021, the aggregate unrecognized value of all outstanding stock-based compensation awards was approximately $38.1 million and $26.5 million, respectively.

REPORTING SEGMENTS

REPORTING SEGMENTS	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
REPORTING SEGMENTS	REPORTING SEGMENTSWe 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. The activity from our Build-to-Rent and Urban Form operations are included in our Corporate segment. 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, Jacksonville, Naples, Orlando, Raleigh, Sarasota, and Tampa Central Austin, Dallas, Denver, and Houston West Bay Area, Las Vegas, Phoenix, Portland, Sacramento, Seattle, and Southern California Financial Services Taylor Morrison Home Funding, Inspired Title Services, and Taylor Morrison Insurance Services Segment information is as follows (in thousands): Three Months Ended June 30, 2022 East Central West Financial Services Corporate and Unallocated (1) Total Total revenue $ 635,862 $ 457,512 $ 832,274 $ 35,471 $ 33,904 $ 1,995,023 Gross margin 174,535 117,356 222,687 13,988 12,914 541,480 Selling, general and administrative expenses (44,589) (33,499) (42,374) — (45,080) (165,542) Net (loss)/income from unconsolidated entities — (39) (5,793) 2,195 — (3,637) Interest and other income/(expense), net (2) 10,110 (1,076) (3,703) — 494 5,825 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 140,056 $ 82,742 $ 170,817 $ 16,183 $ (18,201) $ 391,597 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. Three Months Ended June 30, 2021 East Central West Financial Services Corporate and Unallocated (1) Total Total revenue $ 581,362 $ 385,839 $ 714,439 $ 37,392 $ 248 $ 1,719,280 Gross margin 122,241 68,606 126,593 11,457 (194) 328,703 Selling, general and administrative expenses (46,365) (32,342) (47,203) — (41,647) (167,557) Net (loss)/income from unconsolidated entities — (6) 4 2,128 — 2,126 Interest and other income/(expense), net (2) 49 (518) (1,311) — 1,732 (48) Income/(loss) before income taxes $ 75,925 $ 35,740 $ 78,083 $ 13,585 $ (40,109) $ 163,224 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. Six Months Ended June 30, 2022 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 1,160,983 $ 828,247 $ 1,602,484 $ 70,670 $ 35,763 $ 3,698,147 Gross margin 300,226 191,364 404,218 24,973 13,827 934,608 Selling, general and administrative expenses (84,915) (62,939) (85,893) — (89,060) (322,807) Net income/(loss) from unconsolidated entities — 46 (6,105) 4,253 — (1,806) Interest and other income/(expense), net (2) 9,678 (2,936) (5,669) — (42) 1,031 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 224,989 $ 125,535 $ 306,551 $ 29,226 $ (61,804) $ 624,497 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. Six Months Ended June 30, 2021 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 1,034,723 $ 708,452 $ 1,312,169 $ 81,457 $ 291 $ 3,137,092 Gross margin 207,308 133,784 231,031 31,523 (502) 603,144 Selling, general and administrative expenses (84,964) (60,900) (88,755) — (80,443) (315,062) Net (loss)/income from unconsolidated entities — (70) 1,996 5,871 (10) 7,787 Interest and other income/(expense), net (2) 91 (891) (1,420) — 1,316 (904) Income/(loss) before income taxes $ 122,435 $ 71,923 $ 142,852 $ 37,394 $ (79,639) $ 294,965 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. As of June 30, 2022 East Central West Financial Services Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 2,017,995 $ 1,514,185 $ 2,792,502 $ — $ — $ 6,324,682 Investments in unconsolidated entities 42,283 89,454 127,811 4,342 27,670 291,560 Other assets 167,882 220,763 566,028 302,182 777,126 2,033,981 Total assets $ 2,228,160 $ 1,824,402 $ 3,486,341 $ 306,524 $ 804,796 $ 8,650,223 (1) Includes corporate cash and the assets from our Build-To-Rent and Urban Form operations. As of December 31, 2021 East Central West Financial Services Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 1,781,948 $ 1,282,024 $ 2,665,084 $ — $ — $ 5,729,056 Investments in unconsolidated entities — 87,600 79,531 4,275 — 171,406 Other assets 196,126 221,906 588,520 559,233 1,261,530 2,827,315 Total assets $ 1,978,074 $ 1,591,530 $ 3,333,135 $ 563,508 $ 1,261,530 $ 8,727,777 (1) Includes corporate cash and the assets from our Build-To-Rent and Urban Form operations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
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 $1.2 billion as of June 30, 2022 and December 31, 2021. 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 letters of credit or surety bonds as of June 30, 2022 will be drawn upon. Purchase Commitments —We are subject to the usual obligations associated with entering into contracts (including land option contracts and land banking arrangements) for the purchase, development, and sale of real estate in the routine conduct of our business. We have a number of land purchase option contracts and land banking agreements, generally through cash deposits, for the right to purchase land or lots at a future point in time with predetermined terms. We do not have title to the property and the creditors of the property owner generally have no recourse. Our obligations with respect to such contracts are generally limited to the forfeiture of the related non-refundable cash deposits and/or letters of credit provided to obtain the options. At June 30, 2022 and December 31, 2021, the aggregate purchase price of these contracts was $1.5 billion and $1.3 billion, respectively. 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, title and insurance agency operations, safety and other 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, 2022 and December 31, 2021, our legal accruals were $23.5 million and $21.7 million, respectively. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. Predicting the ultimate resolution of the pending matters, the related timing or the eventual loss associated with these matters is inherently difficult. Accordingly, the liability arising from the ultimate resolution of any matter may exceed the estimate reflected in the recorded reserves relating to such matters. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. On April 26, 2017, a class action complaint was filed in the Circuit Court of the Tenth Judicial Circuit in and for Polk County, Florida by Norman Gundel, William Mann, and Brenda Taylor against Avatar Properties, Inc. (an acquired AV Homes entity), generally alleging that our collection of club membership fees in connection with the use of one of our amenities in our East homebuilding segment violates various laws relating to homeowner associations and other Florida-specific laws. The class action complaint seeks an injunction to prohibit future collection of club membership fees. On November 2, 2021, the court determined that the club membership fees were improper and that plaintiffs were entitled to $35.0 million in fee reimbursements. We appealed the court’s ruling to the Second District Court of Appeal on November 29, 2021, and as of June 30, 2022, our appeal remains pending. Plaintiffs have agreed to continue to pay club membership fees pending the outcome of the appeal. We believe, based on our assessment and the opinion of external legal counsel, that the court’s legal interpretation constitutes legal error and the court incorrectly ruled on this matter. In accordance with ASC Topic 450, Contingencies, we evaluated the range of loss and the likelihood of each potential amount of loss within the range. While the ultimate outcome and the costs associated with litigation are inherently uncertain and difficult to predict, in evaluating the potential outcomes, we believe the more likely outcome is that we win the appeal. This belief is based on our review of the legal merit of the judgement, as well as the opinion of external legal counsel. Accordingly, in assessing the range of possible loss, we believe the more likely outcome is that we win on appeal and will have zero liability. Leases — Our leases primarily consist of office space, construction trailers, model home leasebacks, a ground lease, equipment, and storage units. We assess each of these contracts to determine whether the arrangement contains a lease as defined by ASC 842, Leases

MORTGAGE HEDGING ACTIVITIES

MORTGAGE HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2022
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 Condensed Consolidated Statements of Operations and 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 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, 2022 December 31, 2021 (Dollars in thousands) Fair Value Notional Amount (1) Fair Value Notional Amount (1) IRLCs $ 4,918 $ 703,747 $ 2,110 $ 158,299 MBSs (1,330) 585,168 (449) 407,000 Total $ 3,588 $ 1,661 (1) The notional amounts in the table above include mandatory and best effort mortgages, that have been locked and approved. Total commitments to originate loans approximated $767.8 million and $173.7 million as of June 30, 2022 and December 31, 2021, 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.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2021 (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. 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” on the Condensed Consolidated Statements of Operations.
Use of Estimates	Use of Estimates — The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the unaudited Condensed Consolidated Financial Statements and these accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of goodwill, valuation of development liabilities, 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.
Goodwill	Goodwill — The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC Topic 350, Intangibles — Goodwill and Other . ASC 350 requires that goodwill and intangible assets that do not have finite lives not be amortized, but rather assessed for impairment at least annually or more frequently if certain impairment indicators are present. We perform our annual impairment test during the fourth quarter or whenever impairment indicators are present. We did not perform an impairment test during the second quarter of 2022 as indicators of impairment were not present.
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, and real estate taxes are allocated to homes and units generally using the relative sales value method. Generally, all overhead costs relating to purchasing, vertical construction of a home, and construction utilities are considered overhead costs and allocated on a per unit basis. 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. The life cycle of a typical community generally ranges from two 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 on a community-level basis during each reporting period. If indicators of impairment are present for a community, an undiscounted cash flow analysis is generally prepared in order to determine if the carrying value of the assets in that community exceeds the estimated undiscounted cash flows. Generally, if the carrying value of the assets exceeds their estimated undiscounted cash flows, the assets are potentially impaired, requiring a fair value analysis. 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. However, fair value can be determined through other methods, such as appraisals, contractual purchase offers, and other third party opinions of value. 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, 2022 and 2021, 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, 2022 and December 31, 2021, we had no inactive projects. In the ordinary course of business, we enter into various option agreements to acquire lots in staged takedowns which may require a significant cash deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots are not purchased. Real estate not owned under these agreements is reflected in Consolidated real estate not owned with a corresponding liability in Liabilities attributable to consolidated real estate not owned in the Condensed Consolidated Balance Sheets. Land held for sale — In some locations where we act as a developer, we occasionally purchase land that includes commercially zoned parcels or areas designated for school or government use, which we typically sell to commercial developers or municipalities, as applicable. We also sell residential lots or land parcels to manage our land and lot supply on larger tracts of land. Land is considered held for sale once management intends to actively sell a parcel within the next 12 months or the parcel is under contract to sell. Land held for sale is recorded at the lower of cost or fair value less costs to sell. In determining the value of land held for sale, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record fair value adjustments for land held for sale within Cost of land closings on the Condensed Consolidated Statements of Operations. Land banking arrangements — We have land purchase agreements with various land sellers. As a method of acquiring land in staged takedowns, while limiting risk and minimizing the use of funds from our available cash or other financing sources, we may transfer our right under certain specific performance agreements to entities owned by third parties (“land banking arrangements”). These entities use equity contributions from their owners and/or incur debt to finance the acquisition and development of the land. The entities grant us an option to acquire lots in staged takedowns. In consideration for this option, we make a non-refundable deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots were not purchased. We do not have an ownership
Investments in Consolidated and Unconsolidated Entities	Investments in Consolidated and Unconsolidated Entities Consolidated Entities — In the ordinary course of business, we enter into land purchase contracts, lot option contracts and land banking arrangements in order to procure land or lots for the construction of homes. Such contracts enable us to control significant lot positions with a minimal initial capital investment and substantially reduce the risks associated with land ownership and development. In accordance with ASC Topic 810, Consolidation , we have concluded that when we enter into these agreements to acquire land or lots and pay a non-refundable deposit, a Variable Interest Entity (“VIE”) may be created because we are deemed to have provided subordinated financial support that will absorb some or all of an entity’s expected losses if they occur. If we are the primary beneficiary of the VIE, we will consolidate the VIE and reflect such assets and liabilities as Consolidated real estate not owned within our real estate inventory balance in the Condensed Consolidated Balance Sheets. Unconsolidated Joint Ventures — We use the equity method of accounting for entities over which we exercise significant influence but do not have a controlling interest over the operating and financial policies of the investee. For unconsolidated entities in which we function as the managing member, we have evaluated the rights held by our joint venture partners and determined that the partners have substantive participating rights that preclude the presumption of control. Our share of net earnings or losses is included in Net loss/income from unconsolidated entities when earned and distributions are credited against our investment in the joint venture when received. These joint ventures are recorded in Investments in unconsolidated entities on the Consolidated Balance Sheets.
Revenue Recognition	Revenue Recognition — We recognize revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“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, if any, 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 such as golf courses, club houses, and fitness centers, which require us to provide club members with access to the facilities in exchange for the payment of club dues. We collect club dues and other fees from the club members, which are invoiced on a monthly basis. Revenue from our golf club operations is also included in amenity and other revenue. Amenity and other revenue also includes revenue from the sale of assets which include multi-use properties as part of our Urban Form operations. 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, which is 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.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements — In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients for applying U.S. GAAP to contracts affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The guidance was effective beginning March 12, 2020 and entities may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the effect of adopting the new guidance on our consolidated financial statements and related disclosures. However, we do not believe the effect of adopting will have a material impact.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Summary of Earnings Per Common Share	The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Numerator: Net income available to TMHC $ 290,987 $ 124,147 $ 467,690 $ 222,168 Denominator: Weighted average shares – basic 117,932 128,440 119,550 128,661 Restricted stock units 513 801 667 892 Stock Options 486 824 579 834 Warrants — 194 — 379 Weighted average shares – diluted 118,931 130,259 120,796 130,766 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 2.47 $ 0.97 $ 3.91 $ 1.73 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 2.45 $ 0.95 $ 3.87 $ 1.70

REAL ESTATE INVENTORY AND LAN_2

REAL ESTATE INVENTORY AND LAND DEPOSITS (Tables)	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of June 30, December 31, 2021 Real estate developed and under development $ 3,879,560 $ 3,895,681 Real estate held for development or held for sale (1) 72,411 70,305 Operating communities (2) 1,838,216 1,309,551 Capitalized interest 185,364 168,670 Total owned inventory 5,975,551 5,444,207 Consolidated real estate not owned 70,817 55,314 Total real estate inventory $ 6,046,368 $ 5,499,521 (1) Real estate held for development or held for sale includes properties which are not in active production. This includes raw land recently purchased or awaiting entitlement, and, if applicable, long-term strategic assets. (2) Operating communities consist of all vertical construction costs relating to homes in progress and completed homes.
Schedule of Development Status of Land Inventory	The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2022 December 31, 2021 Owned Lots Book Value of Land Owned Lots Book Value of Land Homebuilding owned lots Raw 3,801 $ 172,327 4,017 $ 178,952 Partially developed 24,641 1,619,200 24,636 1,568,967 Finished 19,939 2,145,750 19,360 2,119,128 Total homebuilding owned lots 48,381 3,937,277 48,013 3,867,047 Other assets (1) — 14,694 5,298 98,939 Total owned lots 48,381 $ 3,951,971 53,311 $ 3,965,986 (1) The remaining book value of land and development as of June 30, 2022 relates to parcels of commercial assets which are . excluded from the owned lots presented in the table.
Schedule of Controlled Lots	The table below presents a summary of our controlled lots for the following periods (dollars in thousands): As of June 30, 2022 December 31, 2021 Controlled Lots Purchase Price Land Deposit (1) Controlled Lots Purchase Price Land Deposit (1) Homebuilding controlled lots Land option purchase contracts 6,805 $ 390,373 $ 49,587 8,360 $ 507,161 $ 57,554 Land banking arrangements 7,173 1,063,392 157,433 5,731 749,813 117,721 Other controlled lots 19,972 1,243,367 61,241 14,671 1,338,284 38,505 Total controlled lots 33,950 $ 2,697,132 $ 268,261 28,762 $ 2,595,258 $ 213,780 (1) Land deposits noted are all non-refundable and represent our exposure to loss related to our contracts with third parties, unconsolidated entities, and land banking arrangements. . In addition, at June 30, 2022 and December 31, 2021 we had refundable deposits of $10.1 million and $15.7 million respectively.
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Interest capitalized - beginning of period $ 177,969 $ 174,174 $ 168,670 $ 163,780 Interest incurred and capitalized 40,815 40,416 80,544 78,135 Interest amortized to cost of home closings (33,420) (34,070) (63,850) (61,395) Interest capitalized - end of period $ 185,364 $ 180,520 $ 185,364 $ 180,520

INVESTMENTS IN CONSOLIDATED A_2

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2022
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 are as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 668,474 $ 414,687 Other assets 129,062 118,990 Total assets $ 797,536 $ 533,677 Liabilities and owners’ equity: Debt $ 130,284 $ 167,842 Other liabilities 23,169 16,245 Total liabilities 153,453 184,087 Owners’ equity: TMHC 291,560 171,406 Others 352,523 178,184 Total owners’ equity 644,083 349,590 Total liabilities and owners’ equity $ 797,536 $ 533,677 Three Months Ended Six Months Ended 2022 2021 2022 2021 Revenues $ 94,166 $ 29,745 $ 124,567 $ 79,626 Costs and expenses (94,086) (22,901) (119,016) (57,059) Income of unconsolidated entities $ 80 $ 6,844 $ 5,551 $ 22,567 TMHC’s share in (loss)/income of unconsolidated entities $ (3,637) $ 2,126 $ (1,806) $ 7,788 Distributions to TMHC from unconsolidated entities $ 88,770 $ 9,729 $ 90,828 $ 20,342

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
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 $ 45,974 $ 49,833 Compensation and employee benefits 103,291 166,272 Self-insurance and warranty reserves 137,491 141,839 Interest payable 40,977 48,551 Property and sales taxes payable 25,053 29,384 Other accruals 78,692 89,330 Total accrued expenses and other liabilities $ 431,478 $ 525,209
Summary of Changes in Reserves	A summary of the changes in our reserves are as follows (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Reserve - beginning of period $ 140,970 $ 116,406 $ 141,839 $ 118,116 Additions to reserves 23,519 18,394 32,403 30,784 Cost of claims incurred (27,729) (19,067) (40,202) (34,931) Changes in estimates to pre-existing reserves 731 388 3,451 2,152 Reserve - end of period $ 137,491 $ 116,121 $ 137,491 $ 116,121

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Total Debt	Total debt consists of the following (in thousands): As of June 30, 2022 December 31, 2021 Principal Unamortized Debt Issuance (Costs)/Premium Carrying Value Principal Unamortized Debt Issuance (Costs)/Premium Carrying Value 5.875% Senior Notes due 2023 $ 350,000 $ (449) $ 349,551 $ 350,000 $ (733) $ 349,267 5.625% Senior Notes due 2024 350,000 (897) 349,103 350,000 (1,166) 348,834 5.875% Senior Notes due 2027 500,000 (3,851) 496,149 500,000 (4,243) 495,757 6.625% Senior Notes due 2027 35,889 1,928 37,817 300,000 17,718 317,718 5.75% Senior Notes due 2028 450,000 (3,498) 446,502 450,000 (3,814) 446,186 5.125% Senior Notes due 2030 500,000 (5,124) 494,876 500,000 (5,440) 494,560 Senior Notes subtotal $ 2,185,889 $ (11,891) $ 2,173,998 $ 2,450,000 $ 2,322 $ 2,452,322 Loans payable and other borrowings 447,191 — 447,191 404,386 — 404,386 $800 Million Revolving Credit Facility (1) 150,000 — 150,000 — — — $100 Million Revolving Credit Facility (1) — — — 31,529 — 31,529 Mortgage warehouse borrowings 179,555 — 179,555 413,887 — 413,887 Total debt $ 2,962,635 $ (11,891) $ 2,950,744 $ 3,299,802 $ 2,322 $ 3,302,124 (1) The $800 Million Revolving Credit Agreement together with the $100 Million Revolving Credit Agreement, the “Credit Facilities”
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2022 Facility Amount Facility Interest Rate (1) Expiration Date Collateral (2) Warehouse A $ 4,538 $ 10,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 20,143 75,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 43,170 125,000 LIBOR + 1.95% On Demand Mortgage Loans and Restricted Cash Warehouse D 52,733 100,000 LIBOR + 1.65% November 20, 2022 Mortgage Loans Warehouse E 58,971 100,000 LIBOR + 1.50% On Demand Mortgage Loans Total $ 179,555 $ 410,000 As of December 31, 2021 Facility Amount Drawn Facility Amount Interest Rate (1) Expiration Date Collateral (2) Warehouse A $ 12 $ 10,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse B 86,409 150,000 LIBOR + 1.75% On Demand Mortgage Loans Warehouse C 116,601 250,000 LIBOR + 2.05% On Demand Mortgage Loans and Restricted Cash Warehouse D 105,065 150,000 LIBOR + 1.65% November 20, 2022 Mortgage Loans Warehouse E 105,800 200,000 LIBOR + 1.50% On Demand Mortgage Loans Total $ 413,887 $ 760,000 (1) Subject to certain interest rate floors. (2) The mortgage warehouse borrowings outstanding as of June 30, 2022 and December 31, 2021 were collateralized by $203.2 million and $467.5 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale, and approximately $0.9 million and $3.5 million, respectively, of cash which is restricted cash on our Condensed Consolidated Balance Sheet.

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 December 31, 2021 (Dollars in thousands) Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 203,238 $ 203,238 $ 467,534 $ 467,534 IRLCs 3 4,918 4,918 2,110 2,110 MBSs 2 (1,330) (1,330) (449) (449) Mortgage warehouse borrowings 2 179,555 179,555 413,887 413,887 Loans payable and other borrowings 2 447,191 447,191 404,386 404,386 5.875% Senior Notes due 2023 (1) 2 349,551 349,125 349,267 365,890 5.625% Senior Notes due 2024 (1) 2 349,103 340,270 348,834 372,750 5.875% Senior Notes due 2027 (1) 2 496,149 460,850 495,757 560,000 6.625% Senior Notes due 2027 (1) 2 37,817 34,378 317,718 315,750 5.75% Senior Notes due 2028 (1) 2 446,502 403,785 446,186 502,875 5.125% Senior Notes due 2030 (1) 2 494,876 415,250 494,560 550,000 $800 Million Revolving Credit Facility 2 150,000 150,000 — — $100 Million Revolving Credit Facility 2 — — 31,529 31,529 Equity Security Investment 1 2,180 2,180 6,400 6,400 (1)

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stock Repurchase Details	The following table summarizes share repurchase activity for the periods presented: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2022 2021 2022 2021 Amount available for repurchase — beginning of period $ 172,384 $ 48,413 $ 230,413 $ 86,831 Amount cancelled from expired or unused authorizations (75,000) — (75,000) — Additional amount authorized for repurchase 500,000 250,000 500,000 250,000 Amount repurchased (172,384) (106,754) (230,413) (145,172) Amount available for repurchase — end of period $ 425,000 $ 191,659 $ 425,000 $ 191,659

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Share-based Payment Arrangement Activity	The following table provides the outstanding balance of time-based and performance based RSUs and stock options as of June 30, 2022: Restricted Stock Units Stock Options Units Weighted Average Units Weighted Balance at June 30, 2022 1,633,914 $ 27.34 3,499,994 $ 23.15
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 Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Restricted stock units (1) $ 4,137 $ 3,615 $ 9,918 $ 8,362 Stock options 1,141 1,039 2,223 1,973 Total stock compensation $ 5,278 $ 4,654 $ 12,141 $ 10,335 (1) Includes compensation expense related to time-based RSUs and performance-based RSUs.

REPORTING SEGMENTS (Tables)

REPORTING SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Summary of Reporting Segments	Our reporting segments are as follows: East Atlanta, Charlotte, Jacksonville, Naples, Orlando, Raleigh, Sarasota, and Tampa Central Austin, Dallas, Denver, and Houston West Bay Area, Las Vegas, Phoenix, Portland, Sacramento, Seattle, and Southern California Financial Services Taylor Morrison Home Funding, Inspired Title Services, and Taylor Morrison Insurance Services
Summary of Segment Information	Segment information is as follows (in thousands): Three Months Ended June 30, 2022 East Central West Financial Services Corporate and Unallocated (1) Total Total revenue $ 635,862 $ 457,512 $ 832,274 $ 35,471 $ 33,904 $ 1,995,023 Gross margin 174,535 117,356 222,687 13,988 12,914 541,480 Selling, general and administrative expenses (44,589) (33,499) (42,374) — (45,080) (165,542) Net (loss)/income from unconsolidated entities — (39) (5,793) 2,195 — (3,637) Interest and other income/(expense), net (2) 10,110 (1,076) (3,703) — 494 5,825 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 140,056 $ 82,742 $ 170,817 $ 16,183 $ (18,201) $ 391,597 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. Three Months Ended June 30, 2021 East Central West Financial Services Corporate and Unallocated (1) Total Total revenue $ 581,362 $ 385,839 $ 714,439 $ 37,392 $ 248 $ 1,719,280 Gross margin 122,241 68,606 126,593 11,457 (194) 328,703 Selling, general and administrative expenses (46,365) (32,342) (47,203) — (41,647) (167,557) Net (loss)/income from unconsolidated entities — (6) 4 2,128 — 2,126 Interest and other income/(expense), net (2) 49 (518) (1,311) — 1,732 (48) Income/(loss) before income taxes $ 75,925 $ 35,740 $ 78,083 $ 13,585 $ (40,109) $ 163,224 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. Six Months Ended June 30, 2022 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 1,160,983 $ 828,247 $ 1,602,484 $ 70,670 $ 35,763 $ 3,698,147 Gross margin 300,226 191,364 404,218 24,973 13,827 934,608 Selling, general and administrative expenses (84,915) (62,939) (85,893) — (89,060) (322,807) Net income/(loss) from unconsolidated entities — 46 (6,105) 4,253 — (1,806) Interest and other income/(expense), net (2) 9,678 (2,936) (5,669) — (42) 1,031 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 224,989 $ 125,535 $ 306,551 $ 29,226 $ (61,804) $ 624,497 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects. Six Months Ended June 30, 2021 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 1,034,723 $ 708,452 $ 1,312,169 $ 81,457 $ 291 $ 3,137,092 Gross margin 207,308 133,784 231,031 31,523 (502) 603,144 Selling, general and administrative expenses (84,964) (60,900) (88,755) — (80,443) (315,062) Net (loss)/income from unconsolidated entities — (70) 1,996 5,871 (10) 7,787 Interest and other income/(expense), net (2) 91 (891) (1,420) — 1,316 (904) Income/(loss) before income taxes $ 122,435 $ 71,923 $ 142,852 $ 37,394 $ (79,639) $ 294,965 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other expense, net includes pre-acquisition write-offs of terminated projects.
Summary of Assets by Segment	As of June 30, 2022 East Central West Financial Services Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 2,017,995 $ 1,514,185 $ 2,792,502 $ — $ — $ 6,324,682 Investments in unconsolidated entities 42,283 89,454 127,811 4,342 27,670 291,560 Other assets 167,882 220,763 566,028 302,182 777,126 2,033,981 Total assets $ 2,228,160 $ 1,824,402 $ 3,486,341 $ 306,524 $ 804,796 $ 8,650,223 (1) Includes corporate cash and the assets from our Build-To-Rent and Urban Form operations. As of December 31, 2021 East Central West Financial Services Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 1,781,948 $ 1,282,024 $ 2,665,084 $ — $ — $ 5,729,056 Investments in unconsolidated entities — 87,600 79,531 4,275 — 171,406 Other assets 196,126 221,906 588,520 559,233 1,261,530 2,827,315 Total assets $ 1,978,074 $ 1,591,530 $ 3,333,135 $ 563,508 $ 1,261,530 $ 8,727,777 (1) Includes corporate cash and the assets from our Build-To-Rent and Urban Form operations.

MORTGAGE HEDGING ACTIVITIES (Ta

MORTGAGE HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 December 31, 2021 (Dollars in thousands) Fair Value Notional Amount (1) Fair Value Notional Amount (1) IRLCs $ 4,918 $ 703,747 $ 2,110 $ 158,299 MBSs (1,330) 585,168 (449) 407,000 Total $ 3,588 $ 1,661 (1) The notional amounts in the table above include mandatory and best effort mortgages, that have been locked and approved.

BUSINESS - Narrative (Details)

BUSINESS - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Real Estate [Line Items]
Inventory impairment charges	$ 0	$ 0	$ 0	$ 0
Impairment charges on unconsolidated entities	$ 0	$ 0	$ 0	$ 0
Minimum
Real Estate [Line Items]
Life cycle of communities (in years)			2 years
Maximum
Real Estate [Line Items]
Life cycle of communities (in years)			5 years

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income available to TMHC	$ 290,987	$ 124,147	$ 467,690	$ 222,168
Denominator:
Weighted average shares - basic (in shares)	117,932	128,440	119,550	128,661
Restricted stock units (in shares)	513	801	667	892
Stock Options (in shares)	486	824	579	834
Warrants (in shares)	0	194	0	379
Weighted average shares - diluted (in shares)	118,931	130,259	120,796	130,766
Earnings per common share – basic:
Net income available to Taylor Morrison Home Corporation (in dollars per share)	$ 2.47	$ 0.97	$ 3.91	$ 1.73
Earnings per common share – diluted:
Net income available to Taylor Morrison Home Corporation (in dollars per share)	$ 2.45	$ 0.95	$ 3.87	$ 1.70

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
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)	2,176,897	1,133,597	1,462,766	982,940

REAL ESTATE INVENTORY AND LAN_3

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Real Estate [Abstract]
Real estate developed and under development	$ 3,879,560		$ 3,895,681
Real estate held for development or held for sale	72,411		70,305
Operating communities	1,838,216		1,309,551
Capitalized interest	185,364	$ 177,969	168,670	$ 180,520	$ 174,174	$ 163,780
Total owned inventory	5,975,551		5,444,207
Consolidated real estate not owned	70,817		55,314
Total real estate inventory	$ 6,046,368		$ 5,499,521

REAL ESTATE INVENTORY AND LAN_4

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Development Status of Land Inventory (Details) $ in Thousands	Jun. 30, 2022 USD ($) lot	Dec. 31, 2021 USD ($) lot
Book Value of Land and Development
Inventory [Line Items]
Total owned lots | $	$ 3,951,971	$ 3,965,986
Owned Lots
Inventory [Line Items]
Owned Lots | lot	48,381	53,311
Raw | Book Value of Land and Development
Inventory [Line Items]
Raw | $	$ 172,327	$ 178,952
Raw | Owned Lots
Inventory [Line Items]
Owned Lots | lot	3,801	4,017
Partially developed | Book Value of Land and Development
Inventory [Line Items]
Partially developed | $	$ 1,619,200	$ 1,568,967
Partially developed | Owned Lots
Inventory [Line Items]
Owned Lots | lot	24,641	24,636
Finished | Book Value of Land and Development
Inventory [Line Items]
Finished | $	$ 2,145,750	$ 2,119,128
Finished | Owned Lots
Inventory [Line Items]
Owned Lots | lot	19,939	19,360
Total homebuilding owned lots | Book Value of Land and Development
Inventory [Line Items]
Total homebuilding owned lots | $	$ 3,937,277	$ 3,867,047
Total homebuilding owned lots | Owned Lots
Inventory [Line Items]
Owned Lots | lot	48,381	48,013
Other assets(1) | Book Value of Land and Development
Inventory [Line Items]
Other assets | $	$ 14,694	$ 98,939
Other assets(1) | Owned Lots
Inventory [Line Items]
Owned Lots | lot	0	5,298

REAL ESTATE INVENTORY AND LAN_5

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Controlled Lots (Details) $ in Thousands	Jun. 30, 2022 USD ($) lot	Dec. 31, 2021 USD ($) lot
Real Estate [Line Items]
Controlled Lots | lot	33,950	28,762
Purchase Price	$ 2,697,132	$ 2,595,258
Land Deposit	$ 268,261	$ 213,780
Land option purchase contracts
Real Estate [Line Items]
Controlled Lots | lot	6,805	8,360
Purchase Price	$ 390,373	$ 507,161
Land Deposit	$ 49,587	$ 57,554
Land banking arrangements
Real Estate [Line Items]
Controlled Lots | lot	7,173	5,731
Purchase Price	$ 1,063,392	$ 749,813
Land Deposit	$ 157,433	$ 117,721
Other controlled lots
Real Estate [Line Items]
Controlled Lots | lot	19,972	14,671
Purchase Price	$ 1,243,367	$ 1,338,284
Land Deposit	61,241	38,505
Refundable Land Deposits
Real Estate [Line Items]
Land Deposit	$ 10,100	$ 15,700

REAL ESTATE INVENTORY AND LAN_6

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest capitalized - beginning of period	$ 177,969	$ 174,174	$ 168,670	$ 163,780
Interest incurred and capitalized	40,815	40,416	80,544	78,135
Interest amortized to cost of home closings	(33,420)	(34,070)	(63,850)	(61,395)
Interest capitalized - end of period	$ 185,364	$ 180,520	$ 185,364	$ 180,520

INVESTMENTS IN CONSOLIDATED A_3

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($) jointVenture	Jun. 30, 2022 USD ($) jointVenture	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Number of joint ventures | jointVenture	2	2
Gain on land transfers	$ 13,700	$ 13,700	$ 0
Assets	8,650,223	8,650,223		$ 8,727,777
Cash and cash equivalents	378,340	378,340		832,821
Fixed assets	220,230	220,230		155,181
Liabilities	4,456,328	4,456,328		4,756,795
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	27,900	27,900		22,300
Owned inventory	66,800	66,800		147,600
Fixed assets	124,000	124,000		74,300
Liabilities	145,100	145,100		165,100
WLH | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	$ 267,900	$ 267,900		$ 291,800

INVESTMENTS IN CONSOLIDATED A_4

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Other assets	$ 2,033,981	$ 2,827,315
Total assets	8,650,223	8,727,777
Liabilities and owners’ equity:
Debt	2,950,744	3,302,124
Total liabilities	4,456,328	4,756,795
Owners’ equity:
Total liabilities and stockholders’ equity	8,650,223	8,727,777
Equity Method Investments | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets
Real estate inventory	668,474	414,687
Other assets	129,062	118,990
Total assets	797,536	533,677
Liabilities and owners’ equity:
Debt	130,284	167,842
Other liabilities	23,169	16,245
Total liabilities	153,453	184,087
Owners’ equity:
TMHC	291,560	171,406
Others	352,523	178,184
Total owners’ equity	644,083	349,590
Total liabilities and stockholders’ equity	$ 797,536	$ 533,677

INVESTMENTS IN CONSOLIDATED A_5

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Costs and expenses	$ (1,453,543)	$ (1,390,577)	$ (2,763,539)	$ (2,533,948)
Net income	293,154	124,755	471,615	227,198
Equity Method Investments | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Revenues	94,166	29,745	124,567	79,626
Costs and expenses	(94,086)	(22,901)	(119,016)	(57,059)
Net income	80	6,844	5,551	22,567
TMHC’s share in (loss)/income of unconsolidated entities	(3,637)	2,126	(1,806)	7,788
Distributions to TMHC from unconsolidated entities	$ 88,770	$ 9,729	$ 90,828	$ 20,342

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 45,974		$ 49,833
Compensation and employee benefits	103,291		166,272
Self-insurance and warranty reserves	137,491	$ 140,970	141,839	$ 116,121	$ 116,406	$ 118,116
Interest payable	40,977		48,551
Property and sales taxes payable	25,053		29,384
Other accruals	78,692		89,330
Total accrued expenses and other liabilities	$ 431,478		$ 525,209

ACCRUED EXPENSES AND OTHER LI_4

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Changes in Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Changes in Warranty Reserves
Reserve - beginning of period	$ 140,970	$ 116,406	$ 141,839	$ 118,116
Additions to reserves	23,519	18,394	32,403	30,784
Cost of claims incurred	(27,729)	(19,067)	(40,202)	(34,931)
Changes in estimates to pre-existing reserves	731	388	3,451	2,152
Reserve - end of period	$ 137,491	$ 116,121	$ 137,491	$ 116,121

DEBT - Summary of Total Debt (D

DEBT - Summary of Total Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Feb. 10, 2020
Debt Instrument [Line Items]
Principal	$ 2,962,635	$ 3,299,802
Unamortized Debt Issuance (Costs)/Premium	(11,891)	2,322
Carrying Value	2,950,744	3,302,124
Loans payable and other borrowings
Debt Instrument [Line Items]
Principal	447,191	404,386
Unamortized Debt Issuance (Costs)/Premium	0	0
Carrying Value	447,191	404,386
Mortgage warehouse borrowings
Debt Instrument [Line Items]
Principal	179,555	413,887
Unamortized Debt Issuance (Costs)/Premium	0	0
Carrying Value	179,555	413,887
Senior Notes
Debt Instrument [Line Items]
Principal	2,185,889	2,450,000
Unamortized Debt Issuance (Costs)/Premium	(11,891)	2,322
Carrying Value	$ 2,173,998	2,452,322
Senior Notes | 5.875% Senior Notes due 2023
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.875%
Principal	$ 350,000	350,000
Unamortized Debt Issuance (Costs)/Premium	(449)	(733)
Carrying Value	$ 349,551	349,267
Senior Notes | 5.625% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.625%
Principal	$ 350,000	350,000
Unamortized Debt Issuance (Costs)/Premium	(897)	(1,166)
Carrying Value	$ 349,103	348,834
Senior Notes | 5.875% Senior Notes due 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.875%
Principal	$ 500,000	500,000
Unamortized Debt Issuance (Costs)/Premium	(3,851)	(4,243)
Carrying Value	$ 496,149	495,757
Senior Notes | 6.625% Senior Notes due 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)	6.625%		6.625%
Principal	$ 35,889	300,000
Unamortized Debt Issuance (Costs)/Premium	1,928	17,718
Carrying Value	$ 37,817	317,718
Senior Notes | 5.75% Senior Notes due 2028
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.75%
Principal	$ 450,000	450,000
Unamortized Debt Issuance (Costs)/Premium	(3,498)	(3,814)
Carrying Value	$ 446,502	446,186
Senior Notes | 5.125% Senior Notes due 2030
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.125%
Principal	$ 500,000	500,000
Unamortized Debt Issuance (Costs)/Premium	(5,124)	(5,440)
Carrying Value	494,876	494,560
Line of Credit | Revolving Credit Facility | $800 Million Revolving Credit Facility
Debt Instrument [Line Items]
Facility Amount	800,000
Principal	150,000	0
Unamortized Debt Issuance (Costs)/Premium	0	0
Carrying Value	150,000	0
Line of Credit | Revolving Credit Facility | $100 Million Revolving Credit Facility
Debt Instrument [Line Items]
Facility Amount	100,000
Principal	0	31,529
Unamortized Debt Issuance (Costs)/Premium	0	0
Carrying Value	$ 0	$ 31,529

DEBT - 2027 Senior Notes (Detai

DEBT - 2027 Senior Notes (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 28, 2022	Jun. 13, 2022	Jul. 27, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Feb. 10, 2020
Debt Instrument [Line Items]
Repayments of senior debt						$ 264,111	$ 0
Gain on extinguishment of debt, net				$ 13,471	$ 0	$ 13,471	$ 0
5.875% Senior Notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)				5.875%		5.875%
6.625% Senior Notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)				6.625%		6.625%		6.625%
Repayments of senior debt		$ 264,100
6.625% Senior Notes due 2027 | Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Repayments of senior debt			$ 800
6.625% Senior Notes due 2027 | Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price (as a percent)						100%
6.625% Senior Notes due 2027 | Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price (as a percent)						103.313%
6.625% Senior Notes due 2027 | Senior Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price (as a percent)						102.208%
6.625% Senior Notes due 2027 | Senior Notes | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price (as a percent)						101.104%
6.625% Senior Notes due 2027 | Senior Notes | Debt Instrument, Redemption, Period Five
Debt Instrument [Line Items]
Redemption price (as a percent)						100%
6.625% Senior Notes due 2027 issued by TM Communities | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)								6.625%
Senior notes issued amount		$ 290,400
Percentage of principal amount redeemed	100%
Gain on extinguishment of debt, net				$ 13,500		$ 13,500
6.625% Senior Notes due 2027 issued by TM Communities | Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Senior notes issued amount			$ 265,000
Percentage of principal amount redeemed			97%
6.625% Senior Notes due 2027 issued by WLH | Senior Notes
Debt Instrument [Line Items]
Senior notes issued amount								$ 9,600

DEBT - Revolving Credit Facilit

DEBT - Revolving Credit Facility (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) fiscalQuarter equityCureRight	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 2,962,635	$ 3,299,802
Letters of credit utilized	1,200,000	1,200,000
Revolving credit facility borrowings	150,000	31,529
Revolving Credit Facility | $800 Million Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	800,000
Long-term debt, gross	150,000	0
Unamortized debt issuance costs	3,000	1,100
Letters of credit utilized	66,300	58,700
Line of credit available	$ 583,700	741,300
Maximum capitalization ratio	60%
Minimum net worth required	$ 2,500,000
Revolving credit facility borrowings	$ 40,000
Number of consecutive fiscal quarters in which equity cure right can be used twice (in fiscal quarter) | fiscalQuarter	4
Maximum number of times equity cure right can be exercised | equityCureRight	5
Revolving Credit Facility | $100 Million Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	$ 100,000
Long-term debt, gross	$ 0	$ 31,529
Maximum consecutive days for financial covenant	5 days

DEBT - Summary of Mortgage Ware

DEBT - Summary of Mortgage Warehouse Borrowings (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Amount Drawn		$ 179,555	$ 413,887
Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn		179,555	413,887
Facility Amount		410,000	760,000
Mortgage borrowings outstanding, collateralized amount		203,200	467,500
Collateralized amount of restricted short-term investments		900	3,500
Warehouse A | Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn		4,538	12
Facility Amount		$ 10,000	10,000
Warehouse A | Secured Debt | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	1.75%	1.75%
Warehouse B | Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn		$ 20,143	86,409
Facility Amount		$ 75,000	150,000
Warehouse B | Secured Debt | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	1.75%	1.75%
Warehouse C | Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn		$ 43,170	116,601
Facility Amount		$ 125,000	250,000
Warehouse C | Secured Debt | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	2.05%	1.95%
Warehouse D | Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn		$ 52,733	105,065
Facility Amount		$ 100,000	150,000
Warehouse D | Secured Debt | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	1.65%	1.65%
Warehouse E | Secured Debt
Line of Credit Facility [Line Items]
Amount Drawn		$ 58,971	105,800
Facility Amount		$ 100,000	$ 200,000
Warehouse E | Secured Debt | LIBOR
Line of Credit Facility [Line Items]
Interest Rate	1.50%	1.50%

DEBT - Loans Payable and Other

DEBT - Loans Payable and Other Borrowings (Details) - Loans Payables	Jun. 30, 2022	Dec. 31, 2021
Minimum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0%	0%
Maximum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	8%	8%

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Feb. 10, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLCs	$ 4,918	$ 2,110
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%
Senior Notes | 5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	5.875%
Senior Notes | 6.625% Senior Notes due 2027
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 | 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	5.75%
Senior Notes | 5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	5.125%
Line of Credit | $800 Million Revolving Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Facility Amount	$ 800,000
Line of Credit | $100 Million Revolving Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Facility Amount	100,000
Level 2 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	203,238	467,534
Level 2 | Carrying Value | MBSs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBSs	(1,330)	(449)
Level 2 | Carrying Value | Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	179,555	413,887
Level 2 | Carrying Value | Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	447,191	404,386
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	349,551	349,267
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	349,103	348,834
Level 2 | Carrying Value | Senior Notes | 5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	496,149	495,757
Level 2 | Carrying Value | Senior Notes | 6.625% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	37,817	317,718
Level 2 | Carrying Value | Senior Notes | 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	446,502	446,186
Level 2 | Carrying Value | Senior Notes | 5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	494,876	494,560
Level 2 | Carrying Value | Line of Credit | $800 Million Revolving Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	150,000	0
Level 2 | Carrying Value | Line of Credit | $100 Million Revolving Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	31,529
Level 2 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	203,238	467,534
Level 2 | Estimated Fair Value | MBSs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MBSs	(1,330)	(449)
Level 2 | Estimated Fair Value | Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	179,555	413,887
Level 2 | Estimated Fair Value | Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	447,191	404,386
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	349,125	365,890
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	340,270	372,750
Level 2 | Estimated Fair Value | Senior Notes | 5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	460,850	560,000
Level 2 | Estimated Fair Value | Senior Notes | 6.625% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	34,378	315,750
Level 2 | Estimated Fair Value | Senior Notes | 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	403,785	502,875
Level 2 | Estimated Fair Value | Senior Notes | 5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	415,250	550,000
Level 2 | Estimated Fair Value | Line of Credit | $800 Million Revolving Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	150,000	0
Level 2 | Estimated Fair Value | Line of Credit | $100 Million Revolving Credit Facility | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	0	31,529
Level 3 | Carrying Value | IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLCs	4,918	2,110
Level 3 | Estimated Fair Value | IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLCs	4,918	2,110
Level 1 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Security Investment	2,180	6,400
Level 1 | Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Security Investment	$ 2,180	$ 6,400

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	25.10%	23.60%	24.50%	23%
Unrecognized tax benefits that would affect effective tax rate	$ 0		$ 0		$ 0

STOCKHOLDERS_ EQUITY - Narrativ

STOCKHOLDERS’ EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	May 31, 2022
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares)	400,000,000		400,000,000
Common stock, par value (in dollars per share)	$ 0.00001		$ 0.00001
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000
Preferred stock, par value (in dollars per share)	$ 0.00001		$ 0.00001
Repurchase of common stock (in shares)	6,779,498	3,809,428	8,727,685	5,256,737
May 2022 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Additional amount authorized for repurchase					$ 500
Prior Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Additional amount authorized for repurchase		$ 250		$ 250

STOCKHOLDERS_ EQUITY - Stock Re

STOCKHOLDERS’ EQUITY - Stock Repurchase Program (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock Repurchase Program, Increase (Decrease) [Roll Forward]
Amount available for repurchase - beginning of period	$ 172,384	$ 48,413	$ 230,413	$ 86,831
Amount cancelled from expired or unused authorizations	(75,000)	0	(75,000)	0
Additional amount authorized for repurchase	500,000	250,000	500,000	250,000
Amount repurchased	(172,384)	(106,754)	(230,413)	(145,172)
Amount available for repurchase — end of period	$ 425,000	$ 191,659	$ 425,000	$ 191,659

STOCK BASED COMPENSATION - Summ

STOCK BASED COMPENSATION - Summary of Restricted Stock Unit, Stock Options, and Stock Warrants Activity (Details)	Jun. 30, 2022 $ / shares shares
Restricted Stock Units and Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards other than options, balance (in shares) | shares	1,633,914
Weighted Average Grant Date Fair Value
Stock awards other than options, outstanding, balance (in dollars per share) | $ / shares	$ 27.34
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, balance (in shares) | shares	3,499,994
Weighted Average Grant Date Fair Value
Stock Options, outstanding balance (in dollars per share) | $ / shares	$ 23.15

STOCK BASED COMPENSATION - Su_2

STOCK BASED COMPENSATION - Summary of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	$ 5,278	$ 4,654	$ 12,141	$ 10,335
Restricted stock units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	4,137	3,615	9,918	8,362
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	$ 1,141	$ 1,039	$ 2,223	$ 1,973

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation	$ 38.1	$ 26.5
Two Thousand And Thirteen Omnibus Equity Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate common stock available for future grants (in shares)	5,498,968

REPORTING SEGMENTS - Narrative

REPORTING SEGMENTS - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 segment
Segment Reporting [Abstract]
Number of reporting segments included in operating component	3

REPORTING SEGMENTS - Reconcilia

REPORTING SEGMENTS - Reconciliation to Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	$ 1,995,023	$ 1,719,280	$ 3,698,147	$ 3,137,092
Gross margin	541,480	328,703	934,608	603,144
Selling, general and administrative expenses	(165,542)	(167,557)	(322,807)	(315,062)
Net (loss)/income from unconsolidated entities	(3,637)	2,126	(1,806)	7,787
Interest and other income/(expense), net	5,825	(48)	1,031	(904)
Gain on extinguishment of debt, net	13,471	0	13,471	0
Income before income taxes	391,597	163,224	624,497	294,965
Operating Segments | East
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	635,862	581,362	1,160,983	1,034,723
Gross margin	174,535	122,241	300,226	207,308
Selling, general and administrative expenses	(44,589)	(46,365)	(84,915)	(84,964)
Net (loss)/income from unconsolidated entities	0	0	0	0
Interest and other income/(expense), net	10,110	49	9,678	91
Gain on extinguishment of debt, net	0		0
Income before income taxes	140,056	75,925	224,989	122,435
Operating Segments | Central
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	457,512	385,839	828,247	708,452
Gross margin	117,356	68,606	191,364	133,784
Selling, general and administrative expenses	(33,499)	(32,342)	(62,939)	(60,900)
Net (loss)/income from unconsolidated entities	(39)	(6)	46	(70)
Interest and other income/(expense), net	(1,076)	(518)	(2,936)	(891)
Gain on extinguishment of debt, net	0		0
Income before income taxes	82,742	35,740	125,535	71,923
Operating Segments | West
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	832,274	714,439	1,602,484	1,312,169
Gross margin	222,687	126,593	404,218	231,031
Selling, general and administrative expenses	(42,374)	(47,203)	(85,893)	(88,755)
Net (loss)/income from unconsolidated entities	(5,793)	4	(6,105)	1,996
Interest and other income/(expense), net	(3,703)	(1,311)	(5,669)	(1,420)
Gain on extinguishment of debt, net	0		0
Income before income taxes	170,817	78,083	306,551	142,852
Operating Segments | Financial Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	35,471	37,392	70,670	81,457
Gross margin	13,988	11,457	24,973	31,523
Selling, general and administrative expenses	0	0	0	0
Net (loss)/income from unconsolidated entities	2,195	2,128	4,253	5,871
Interest and other income/(expense), net	0	0	0	0
Gain on extinguishment of debt, net	0		0
Income before income taxes	16,183	13,585	29,226	37,394
Corporate and Unallocated
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	33,904	248	35,763	291
Gross margin	12,914	(194)	13,827	(502)
Selling, general and administrative expenses	(45,080)	(41,647)	(89,060)	(80,443)
Net (loss)/income from unconsolidated entities	0	0	0	(10)
Interest and other income/(expense), net	494	1,732	(42)	1,316
Gain on extinguishment of debt, net	13,471		13,471
Income before income taxes	$ (18,201)	$ (40,109)	$ (61,804)	$ (79,639)

REPORTING SEGMENTS - Summary of

REPORTING SEGMENTS - Summary of Assets by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 6,324,682	$ 5,729,056
Investments in unconsolidated entities	291,560	171,406
Other assets	2,033,981	2,827,315
Total assets	8,650,223	8,727,777
Operating Segments | East
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	2,017,995	1,781,948
Investments in unconsolidated entities	42,283	0
Other assets	167,882	196,126
Total assets	2,228,160	1,978,074
Operating Segments | Central
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,514,185	1,282,024
Investments in unconsolidated entities	89,454	87,600
Other assets	220,763	221,906
Total assets	1,824,402	1,591,530
Operating Segments | West
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	2,792,502	2,665,084
Investments in unconsolidated entities	127,811	79,531
Other assets	566,028	588,520
Total assets	3,486,341	3,333,135
Operating Segments | Financial Services
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	4,342	4,275
Other assets	302,182	559,233
Total assets	306,524	563,508
Corporate and Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	27,670	0
Other assets	777,126	1,261,530
Total assets	$ 804,796	$ 1,261,530

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Nov. 02, 2021
Loss Contingencies [Line Items]
Outstanding letters of credit and surety bonds	$ 1,200,000,000		$ 1,200,000,000		$ 1,200,000,000
Aggregate purchase price	2,697,132,000		2,697,132,000		2,595,258,000
Legal accruals	23,500,000		23,500,000		21,700,000
Lease liabilities	91,872,000		91,872,000		96,172,000
Operating lease expense	6,700,000	$ 4,000,000	13,600,000	$ 8,000,000
Land Option Purchase Contracts and Land Banking Arrangements
Loss Contingencies [Line Items]
Aggregate purchase price	$ 1,500,000,000		$ 1,500,000,000		$ 1,300,000,000
Maximum
Loss Contingencies [Line Items]
Loss contingency						$ 35,000,000
Minimum
Loss Contingencies [Line Items]
Loss contingency						$ 0

MORTGAGE HEDGING ACTIVITIES - N

MORTGAGE HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Total commitments to extend credit	$ 767.8	$ 173.7
Minimum
Derivative [Line Items]
Derivative term	30 days
Maximum
Derivative [Line Items]
Derivative term	60 days

MORTGAGE HEDGING ACTIVITIES - S

MORTGAGE HEDGING ACTIVITIES - Summary of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Fair Value	$ 3,588	$ 1,661
IRLCs
Derivative [Line Items]
Fair Value	4,918	2,110
Notional Amount	703,747	158,299
MBSs
Derivative [Line Items]
Fair Value	(1,330)	(449)
Notional Amount	$ 585,168	$ 407,000