M.D.C. (MDC) 10-Q 30 Apr 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 29, 2019
Document Information [Line Items]
Entity Registrant Name	MDC HOLDINGS INC
Entity Central Index Key	0000773141
Trading Symbol	mdc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		61,520,890
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 476,066	$ 470,139
Inventories:
Operating lease right-of-use asset	33,500
Total Assets	3,034,919	3,001,077
Cash and cash equivalents	476,066	470,139
LIABILITIES AND EQUITY
Present value of operating lease liabilities 2	34,583
Total Liabilities	1,424,213	1,425,077
Stockholders' Equity
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value; 250,000,000 shares authorized; 61,520,890 and 56,615,352 issued and outstanding at March 31, 2019 and December 31, 2018, respectively	615	566
Additional paid-in-capital	1,318,726	1,168,442
Retained earnings	291,365	406,992
Total Stockholders' Equity	1,610,706	1,576,000
Total Liabilities and Stockholders' Equity	3,034,919	3,001,077
Homebuilding Segment [Member]
ASSETS
Cash and cash equivalents	416,374	414,724
Restricted cash	8,136	6,363
Trade and other receivables	67,960	52,982
Inventories:
Housing Completed or Under Construction	950,274	952,436
Land and Land Under Development	1,198,824	1,180,558
Total inventories	2,149,098	2,132,994
Property and equipment, net	59,765	58,167
Operating lease right-of-use asset	32,604
Deferred tax asset, net	34,504	37,178
Prepaid and other assets	42,545	45,794
Total Assets	2,810,986	2,748,202
Cash and cash equivalents	416,374	414,724
Marketable securities	45,767	40,879
Other assets	693	995
LIABILITIES AND EQUITY
Accounts payable	58,570	50,505
Accrued liabilities	185,131	196,247
Present value of operating lease liabilities 2	33,460
Revolving credit facility	15,000	15,000
Senior notes, net	988,322	987,967
Total Liabilities	1,280,483	1,249,719
Financial Services Segment [Member]
ASSETS
Cash and cash equivalents	51,556	49,052
Inventories:
Prepaid and other assets	15,800
Total Assets	223,933	252,875
Cash and cash equivalents	51,556	49,052
Marketable securities	45,767	40,879
Mortgage loans held-for-sale, net	110,810	149,211
Other assets	15,800	13,733
LIABILITIES AND EQUITY
Total Liabilities	143,730	175,358
Accounts payable and accrued liabilities	58,874	58,543
Mortgage repurchase facility	$ 84,856	$ 116,815

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	61,520,890	56,615,352
Common stock, shares outstanding (in shares)	61,520,890	56,615,352

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Inventory impairments	$ (610)	$ (550)
Pretax income	55,606	50,532
Provision for income taxes	(15,056)	(11,768)
Net income	40,550	38,764
Other comprehensive income
Comprehensive income	$ 40,550	$ 38,764
Earnings per share:
Basic (in dollars per share)	$ 0.66	$ 0.64
Diluted (in dollars per share)	$ 0.64	$ 0.63
Weighted average common shares outstanding:
Basic (in shares)	60,939,364	60,340,774
Diluted (in shares)	62,708,334	61,447,563
Dividends declared per share (in dollars per share)	$ 0.30	$ 0.28
Homebuilding Segment [Member]
Revenues	$ 647,278	$ 607,688
Cost of sales	(525,162)	(497,182)
Inventory impairments	(610)	(550)
Gross profit	122,116	110,506
Selling, general and administrative expenses	(82,261)	(71,341)
Interest and other income	2,391	1,859
Other expense	(1,191)	(563)
Pretax income	41,055	40,461
Homebuilding Segment [Member] | Home Building [Member]
Revenues	647,278	607,688
Cost of sales	(524,552)	(496,632)
Financial Services Segment [Member]
Revenues	17,404	19,035
Pretax income	14,551	10,071
Expenses	(8,957)	(8,831)
Interest and other income	1,264	1,020
Net gain (loss) on marketable equity securities	$ 4,840	$ (1,153)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017	56,123,228
Beginning balance 1 at Dec. 31, 2017	$ 561	$ 1,144,570	$ 258,164	$ 3,992	$ 1,407,287
Cumulative effect of newly adopted accounting standards (Note 2) at Dec. 31, 2017			5,766	(3,992)	1,774
Adjusted balance at Dec. 31, 2017	561	1,144,570	263,930		1,409,061
Net Income			38,764		38,764
Shares issued upon exercise of stock options and awards of restricted stock (in shares)	97,783
Shares issued upon exercise of stock options and awards of restricted stock	$ 1	281			282
Cash dividends declared			(16,865)		(16,865)
Stock-based compensation expense		1,251			1,251
Forfeiture of restricted stock (in shares)	(1,368)
Forfeiture of restricted stock
Balance (in shares) at Mar. 31, 2018	56,219,643
Ending balance at Mar. 31, 2018	$ 562	1,146,102	285,829		1,432,493
Balance (in shares) at Dec. 31, 2018	56,615,352
Beginning balance 1 at Dec. 31, 2018	$ 566	1,168,442	406,992		1,576,000
Cumulative effect of newly adopted accounting standards (Note 2) at Dec. 31, 2018			(67)		(67)
Adjusted balance at Dec. 31, 2018	566	1,168,442	406,925		1,575,933
Net Income			40,550		40,550
Shares issued upon exercise of stock options and awards of restricted stock (in shares)	372,344
Shares issued upon exercise of stock options and awards of restricted stock	$ 4	7,083			7,087
Cash dividends declared			(17,019)		(17,019)
Stock dividend declared (in shares)	4,534,908
Stock dividend declared	$ 45	138,950	(139,091)		(96)
Stock-based compensation expense		4,251			4,251
Forfeiture of restricted stock (in shares)	(1,714)
Forfeiture of restricted stock
Balance (in shares) at Mar. 31, 2019	61,520,890
Ending balance at Mar. 31, 2019	$ 615	$ 1,318,726	$ 291,365		$ 1,610,706

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Activities:
Net income	$ 40,550	$ 38,764
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	4,251	1,251
Depreciation and amortization	4,878	4,636
Inventory impairments	610	550
Net (gain) loss on marketable equity securities	(4,840)	1,153
Amortization of discount / premiums on marketable debt securities, net		(182)
Deferred income tax expense	2,696	423
Net changes in assets and liabilities:
Trade and other receivables	(13,771)	(3,261)
Mortgage loans held-for-sale, net	38,401	24,956
Prepaid and other assets	1,085	389
Accounts payable and accrued liabilities	(3,153)	6,765
Net cash provided by (used in) operating activities	54,348	(61,486)
Investing Activities:
Purchases of marketable securities	(4,785)	(8,761)
Sales of marketable securities	4,737	8,700
Purchases of property and equipment	(6,386)	(6,316)
Net cash used in investing activities	(6,434)	(6,377)
Financing Activities:
Payments on mortgage repurchase facility, net	(31,959)	(22,214)
Dividend payments	(17,115)	(16,865)
Proceeds from exercise of stock options	7,087	282
Net cash used in financing activities	(41,987)	(38,797)
Net increase (decrease) in cash, cash equivalents and restricted cash	5,927	(106,660)
Cash, cash equivalents and restricted cash:
Beginning of period	470,139	514,240
End of period	476,066	407,580
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	476,066	407,580
End of period	476,066	407,580
Homebuilding Segment [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Inventory impairments	610	550
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	416,374	352,868
Restricted cash	8,136	6,198
Financial Services Segment [Member]
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	51,556	48,514
Housing Completed or Under Construction [Member]
Net changes in assets and liabilities:
Housing completed or under construction and land under development	2,137	(65,378)
Land and Land Under Development [Member]
Net changes in assets and liabilities:
Housing completed or under construction and land under development	$ (18,496)	$ (71,552)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Basis of Presentation The Unaudited Consolidated Financial Statements of M.D.C. Holdings, Inc. ("MDC," “the Company," “we,” “us,” or “our,” which refers to M.D.C. Holdings, Inc. and its subsidiaries) have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, they do not March 31, 2019 10 December 31, 2018. On January 28, 2019 8% February 28, 2019 February 14, 2019 260, Earnings Per Share 260” Included in these footnotes are certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. may “may,” may no 10 10 8 Where necessary, reclassifications have been made to our prior period financial information to conform to the current year presentation.

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2. Recently Issued Accounting Standards Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2016 02, Leases 2016 02” 842, Leases 842” 842 840 842 January 1, 2019, 842 not 842. Adoption of ASC 842 $34.2 $34.3 January 1, 2019. not Accounting Standards Issued But Not In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13 2016 13 January 1, 2020, not 2016 13 not

Note 3 - Segment Reporting

Note 3 - Segment Reporting	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	3 . Segment Reporting An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (“CODM”), or decision-making group, to evaluate performance and make operating decisions. We have identified our CODM as two We have identified each homebuilding division as an operating segment. Our homebuilding operating segments have been aggregated into the reportable segments noted below because they are similar in the following regards: ( 1 2 3 4 5 ● West (Arizona, California, Nevada, Washington and Oregon) ● Mountain (Colorado and Utah) ● East (mid-Atlantic, which includes Virginia and Maryland, and Florida) Our financial services business consists of the operations of the following operating segments: ( 1 2 3 4 5 one not 10 1 2 not 3 Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating divisions by centralizing key administrative functions such as finance, treasury, information technology, insurance, risk management, litigation and human resources. Corporate also provides the necessary administrative functions to support MDC as a publicly traded company. A portion of the expenses incurred by Corporate are allocated to the homebuilding operating segments based on their respective percentages of assets, and to a lesser degree, a portion of Corporate expenses are allocated to the financial services segments. A majority of Corporate’s personnel and resources are primarily dedicated to activities relating to the homebuilding segments, and, therefore, the balance of any unallocated Corporate expenses is included in the homebuilding operations section of our consolidated statements of operations and comprehensive income. The following table summarizes revenues for our homebuilding and financial services operations: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Homebuilding West $ 369,558 $ 319,509 Mountain 209,192 208,632 East 68,528 79,547 Total homebuilding revenues $ 647,278 $ 607,688 Financial Services Mortgage operations $ 10,174 $ 12,696 Other 7,230 6,339 Total financial services revenues $ 17,404 $ 19,035 The following table summarizes pretax income (loss) for our homebuilding and financial services operations: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Homebuilding West $ 33,200 $ 24,373 Mountain 21,714 24,185 East 1,473 3,375 Corporate (15,332 ) (11,472 ) Total homebuilding pretax income $ 41,055 $ 40,461 Financial Services Mortgage operations $ 4,993 $ 7,520 Other 9,558 2,551 Total financial services pretax income $ 14,551 $ 10,071 Total pretax income $ 55,606 $ 50,532 The following table summarizes total assets for our homebuilding and financial services operations. The assets in our West, Mountain and East segments consist primarily of inventory while the assets in our Corporate segment primarily include our cash and cash equivalents and deferred tax assets. The assets in our financial services segment consist mostly of cash and cash equivalents, marketable securities and mortgage loans held-for-sale. March 31, December 31, 2019 2018 (Dollars in thousands) Homebuilding assets West $ 1,307,761 $ 1,301,374 Mountain 818,451 793,150 East 170,670 169,485 Corporate 514,104 484,193 Total homebuilding assets $ 2,810,986 $ 2,748,202 Financial services assets Mortgage operations $ 123,139 $ 159,677 Other 100,794 93,198 Total financial services assets $ 223,933 $ 252,875 Total assets $ 3,034,919 $ 3,001,077

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	4. Earnings Per Share ASC 260 two two two 260. Three Months Ended March 31, 2019 2018 (Dollars in thousands, except per share amounts) Numerator Net income $ 40,550 $ 38,764 Less: distributed earnings allocated to participating securities (111 ) (105 ) Less: undistributed earnings allocated to participating securities (139 ) (124 ) Net income attributable to common stockholders (numerator for basic earnings per share) 40,300 38,535 Add back: undistributed earnings allocated to participating securities 139 124 Less: undistributed earnings reallocated to participating securities (136 ) (122 ) Numerator for diluted earnings per share under two class method $ 40,303 $ 38,537 Denominator Weighted-average common shares outstanding 60,939,364 60,340,774 Add: dilutive effect of stock options 1,217,846 1,106,789 Add: dilutive effect of performance stock units 551,124 - Denominator for diluted earnings per share under two class method 62,708,334 61,447,563 Basic Earnings Per Common Share $ 0.66 $ 0.64 Diluted Earnings Per Common Share $ 0.64 $ 0.63 Diluted EPS for the three March 31, 2019 2018 0.5 0.1

Note 5 - Accumulated Other Comp

Note 5 - Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	5. Accumulated Other Comprehensive Income The following table sets forth our changes in accumulated other comprehensive income (“AOCI”): Three Months Ended March 31, 2019 2018 (Dollars in thousands) Beginning balance 1 $ - $ 3,992 Adoption of accounting standards - (3,992 ) Ending balance $ - $ - __________________________________________________ ( 1 During the first 2018,

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6 . Fair Value Measurements ASC Topic 820, Fair Value Measurements 820” 820 three 1, 2, 3, no The following table sets forth the fair values and methods used for measuring the fair values of financial instruments on a recurring basis: Fair Value Financial Instrument Hierarchy March 31, 2019 December 31, 2018 (Dollars in thousands) Cash and cash equivalents Debt securities (available-for-sale) Level 1 $ 34,860 $ 34,866 Marketable securities Equity securities Level 1 $ 45,767 $ 40,879 Mortgage loans held-for-sale, net Level 2 $ 110,810 $ 149,211 The following methods and assumptions were used to estimate the fair value of each class of financial instruments as of March 31, 2019 December 31, 2018. Cash and cash equivalents (excluding debt securities with an original maturity of three , restricted cash, trade and other receivables, prepaid and other assets, accounts payable, accrued liabilities and borrowings on our revolving credit facility. E quity s ecurities March 31, 2019 December 31, 2018, Debt securities March 31, 2019 December 31, 2018, The following tables set forth the cost and estimated fair value of our available for sale debt securities: March 31, 2019 Amortized Cost Basis OTTI Net Amortized Cost Fair Value (Dollars in thousands) Financial Services Cash and cash equivalents Debt securities $ 34,860 $ - $ 34,860 $ 34,860 December 31, 2018 Amortized Cost Basis OTTI Net Amortized Cost Fair Value Financial Services Cash and cash equivalents Debt securities $ 34,866 $ - $ 34,866 $ 34,866 The following table reconciles the net gain (loss) recognized during the three March 31, 2019 2018 Three Months Ended March 31, 2019 2018 Net gain (loss) recognized during the period on equity securities $ 4,840 $ (1,153 ) Less: Net gain recognized during the period on equity securities sold during the period (237 ) (96 ) Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ 4,603 $ (1,057 ) Mortgage loans held-for-sale, net. 1 2 not March 31, 2019 December 31, 2018, $96.2 $130.8 2 March 31, 2019 December 31, 2018, $14.6 $18.5 not 2 Gains on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For the three March 31, 2019, $11.7 $9.0 Mortgage Repurchase Facility. 19 30 2 Senior Notes 2 March 31, 2019 December 31, 2018 Carrying Fair Value Carrying Fair Value (Dollars in thousands) $250 Million 5⅝% Senior Notes due February 2020, net $ 249,109 $ 254,304 $ 248,850 $ 253,413 $250 Million 5½% Senior Notes due January 2024, net 248,841 258,479 248,789 242,983 $500 Million 6% Senior Notes due January 2043, net 490,372 434,117 490,328 386,552 Total $ 988,322 $ 946,900 $ 987,967 $ 882,948

Note 7 - Inventories

Note 7 - Inventories	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	7 . Inventories The following table sets forth, by reportable segment, information relating to our homebuilding inventories: March 31, December 31, 2019 2018 (Dollars in thousands) Housing completed or under construction: West $ 516,900 $ 521,960 Mountain 356,177 347,738 East 77,197 82,738 Subtotal 950,274 952,436 Land and land under development: West 699,704 705,591 Mountain 420,155 402,657 East 78,965 72,310 Subtotal 1,198,824 1,180,558 Total inventories $ 2,149,098 $ 2,132,994 Our inventories are primarily associated with communities where we intend to construct and sell homes, including models and unsold homes. Costs capitalized to land and land under development primarily include: ( 1 2 3 4 5 6 1 2 3 4 5 In accordance with ASC Topic 360, Property, Plant, and Equipment 360” may not • actual and trending “Operating Margin” (which is defined as home sale revenues less home cost of sales and all incremental costs associated directly with the subdivision, including sales commissions and marketing costs); • estimated future undiscounted cash flows and Operating Margin; • forecasted Operating Margin for homes in backlog; • actual and trending net home orders; • homes available for sale; • market information for each sub-market, including competition levels, home foreclosure levels, the size and style of homes currently being offered for sale and lot size; and • known or probable events indicating that the carrying value may not If events or circumstances indicate that the carrying value of our inventory may not 3 3 If land is classified as held for sale, we measure it in accordance with ASC 360 2 not not 3 Impairments of homebuilding inventory by segment for the three March 31, 2019 2018 Three Months Ended March 31, 2019 2018 (Dollars in thousands) West $ - $ 375 Mountain 400 175 East 210 - Total inventory impairments $ 610 $ 550 The table below provides quantitative data, for the periods presented, used in determining the fair value of the impaired inventory. Impairment Data Quantitative Data Three Months Ended Total Inventory Fair Value of After Impairments Number of Discount Rate (Dollars in thousands) March 31, 2019 16 $ 610 $ 10,476 2 N/A March 31, 2018 24 $ 550 $ 5,223 2 12 %

Note 8 - Capitalization of Inte

Note 8 - Capitalization of Interest	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Capitalization Disclosure [Text Block]	8. Capitalization of Interest We capitalize interest to inventories during the period of development in accordance with ASC Topic 835, Interest 835” 835, Three Months Ended March 31, 2019 2018 (Dollars in thousands) Homebuilding interest incurred $ 16,031 $ 15,625 Less: Interest capitalized (16,031 ) (15,625 ) Homebuilding interest expensed $ - $ - Interest capitalized, beginning of period $ 54,845 $ 57,541 Plus: Interest capitalized during period 16,031 15,625 Less: Previously capitalized interest included in home and land cost of sales (13,929 ) (14,428 ) Interest capitalized, end of period $ 56,947 $ 58,738

Note 9 - Leases

Note 9 - Leases	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	9. Leases We lease certain property, land and equipment, the majority of which comprise property related leases to provide office space where we operate our business. Leases with an initial term of 12 not Our property related leases typically have terms of between three five not no The property related lease for the Company’s headquarters in Denver, Colorado is ten October 31, 2026 ten 2036. not Operating lease expense is included as a component of selling, general and administrative expenses and expenses in the homebuilding and financial services sections of our consolidated statements of operations and comprehensive income, respectively. Components of operating lease expense were as follows: Three Months Ended March 31, 2019 (Dollars in thousands) Operating lease cost 1 $ 1,980 Less: Sublease income (Note 20) (37 ) Net lease cost $ 1,943 _________________________________________ 1 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2019 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,771 Leased assets obtained in exchange for new operating lease liabilities $ 1,477 Supplemental cash flow information related to non-cash transactions also includes the recognition of operating lease right-of-use assets of $33.5 $34.3 842. Weighted-average remaining lease term and discount rate for operating leases were as follows: March 31, 2019 Weighted-average remaining lease term (in years) 6.8 Weighted-average discount rate 5.5 % Maturities of operating lease liabilities were as follows: Year Ended December 31, (Dollars in thousands) 2019 (excluding the three months ended March 31, 2019) $ 5,315 2020 6,317 2021 6,066 2022 5,752 2023 5,148 Thereafter 13,118 Total operating lease payments 1 $ 41,716 Less: Interest 7,133 Present value of operating lease liabilities 2 $ 34,583 __________________________________________________ 1 $0.6 not 2 $1.1 March 31, 2019.

Note 10 - Homebuilding Prepaid

Note 10 - Homebuilding Prepaid and Other Assets	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Other Assets Disclosure [Text Block]	10 . Homebuilding Prepaid and Other Assets The following table sets forth the components of homebuilding prepaid and other assets: March 31, December 31, 2019 2018 (Dollars in thousands) Land option deposits $ 21,951 $ 23,805 Goodwill 6,008 6,008 Prepaid expenses 6,614 7,324 Deferred debt issuance costs on revolving credit facility, net 7,279 7,662 Other 693 995 Total $ 42,545 $ 45,794

Note 11 - Homebuilding Accrued

Note 11 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	1 1 . Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities The following table sets forth information relating to homebuilding accrued liabilities: March 31, December 31, 2019 2018 (Dollars in thousands) Customer and escrow deposits $ 36,986 $ 34,463 Warranty accrual 29,992 28,262 Accrued compensation and related expenses 22,438 39,459 Accrued interest 13,281 27,734 Construction defect claim reserves 8,367 8,464 Land development and home construction accruals 9,064 8,683 Income taxes payable 18,337 6,245 Other accrued liabilities 46,666 42,937 Total accrued liabilities $ 185,131 $ 196,247 The following table sets forth information relating to financial services accounts payable and accrued liabilities: March 31, December 31, 2019 2018 (Dollars in thousands) Insurance reserves $ 47,852 $ 46,844 Accounts payable and other accrued liabilities 11,022 11,699 Total accounts payable and accrued liabilities $ 58,874 $ 58,543

Note 12 - Warranty Accrual

Note 12 - Warranty Accrual	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	1 2 . Warranty Accrual Our homes are sold with limited third third first two three ten not Our warranty accrual is included in accrued liabilities in the homebuilding section of our consolidated balance sheets and adjustments to our warranty accrual are recorded as an increase or reduction to home cost of sales in the homebuilding section of our consolidated statements of operations and comprehensive income. The table set forth below summarizes accrual, adjustment and payment activity related to our warranty accrual for the three March 31, 2019 2018. three March 31, 2019 2018, $0.9 $3.1 three March 31, 2019 three March 31, 2018 Three Months Ended March 31, 2019 2018 (Dollars in thousands) Balance at beginning of period $ 28,262 $ 21,909 Expense provisions 3,348 2,598 Cash payments (2,493 ) (2,500 ) Adjustments 875 3,106 Balance at end of period $ 29,992 $ 25,113

Note 13 - Insurance and Constru

Note 13 - Insurance and Construction Defect Claim Reserves	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	1 3 . Insurance and Construction Defect Claim Reserves The establishment of reserves for estimated losses associated with insurance policies issued by Allegiant and re-insurance agreements issued by StarAmerican are based on actuarial studies that include known facts and interpretations of circumstances, including our experience with similar cases and historical trends involving claim payment patterns, pending levels of unpaid claims, product mix or concentration, claim severity, frequency patterns depending on the business conducted, and changing regulatory and legal environments. It is possible that changes in the insurance payment experience used in estimating our ultimate insurance losses could have a material impact on our insurance reserves. The establishment of reserves for estimated losses to be incurred by our homebuilding subsidiaries associated with ( 1 2 not The table set forth below summarizes our insurance and construction defect claim reserves activity for the three March 31, 2019 2018. Three Months Ended March 31, 2019 2018 (Dollars in thousands) Balance at beginning of period $ 55,308 $ 52,686 Expense provisions 2,465 2,304 Cash payments, net of recoveries (1,554 ) (1,595 ) Balance at end of period $ 56,219 $ 53,395 In the ordinary course of business, we make payments from our insurance and construction defect claim reserves to settle litigation claims arising from our homebuilding activities. These payments are irregular in both their timing and their magnitude. As a result, the cash payments, net of recoveries shown for the three March 31, 2019 2018 not

Note 14 - Income Taxes

Note 14 - Income Taxes	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 4 . Income Taxes Our overall effective income tax rates were 27.1% 23.3% three March 31, 2019 2018, $15.1 $11.8 three March 31, 2019 $1.2 2018 first 2019 no 2019 first At March 31, 2019 December 31, 2018 $34.5 $37.2

Note 15 - Senior Notes

Note 15 - Senior Notes	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Long-term Debt [Text Block]	1 5 . Senior Notes The carrying value of our senior notes as of March 31, 2019 December 31, 2018, March 31, December 31, 2019 2018 (Dollars in thousands) 5⅝% Senior Notes due February 2020, net $ 249,109 $ 248,850 5½% Senior Notes due January 2024, net 248,841 248,789 6% Senior Notes due January 2043, net 490,372 490,328 Total $ 988,322 $ 987,967 Our senior notes are not not

Note 16 - Stock-based Compensat

Note 16 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	1 6 . Stock- Based Compensation We account for share-based awards in accordance with ASC Topic 718 Compensation–Stock Compensation 718” three March 31, 2019 2018: Three Months Ended March 31, 2019 2018 (Dollars in thousands) Stock option grants expense $ 255 $ 56 Restricted stock awards expense 911 744 Performance share units expense 3,085 451 Total stock based compensation $ 4,251 $ 1,251 On May 23, 2018, June 20, 2017 July 25, 2016, 2011 three fifteen 15% three 10% 20%. 5% 10%, 50% 20%, 200% 2017 2018, Threshold Goal Target Goal Maximum Goal Awardee Date of Award Performance Period Base Period Base Period Revenues PSUs Home Sale Revenues PSUs Home Sale Revenues PSUs Home Sale Revenues Fair Value per Share Maximum Potential Expense to be Recognized* CEO July 1, 2016 July 1, 2015 61,236 122,472 244,944 $ 4,815 COO July 25, 2016 to to $1.975 billion 61,236 $2.074 billion 122,472 $2.173 billion 244,944 $2.370 billion $ 19.66 4,815 CFO June 30, 2019 June 30, 2016 15,309 30,618 61,236 1,204 $ 10,834 CEO April 1, 2017 April 1, 2016 64,152 128,304 256,608 $ 7,142 COO June 20, 2017 to to $2.426 billion 64,152 $2.547 billion 128,304 $2.669 billion 256,608 $2.911 billion $ 27.83 7,142 CFO March 31, 2020 March 31, 2017 16,038 32,076 64,152 1,786 $ 16,070 CEO April 1, 2018 April 1, 2017 64,800 129,600 259,200 $ 6,629 COO May 23, 2018 to to $2.543 billion 64,800 $2.670 billion 129,600 $2.797 billion 259,200 $3.052 billion $ 25.57 6,629 CFO March 31, 2021 March 31, 2018 16,200 32,400 64,800 1,657 _______________________ $ 14,915 * Dollars in thousands In accordance with ASC 718, not 718 not 2016 . March 31, 2019, $0.9 three March 31, 2019. March 31, 2018, $0.5 three March 31, 2018. 2017 March 31, 2019, $2.2 three March 31, 2019. March 31, 2018, not no March 31, 2018. 2018 PSU Grant May 2018, not no March 31, 2019.

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 7 . Commitments and Contingencies Surety Bonds and Letters of Credit. March 31, 2019, $245.5 $89.3 $61.7 $126.6 $51.2 March 31, 2019, 19 not We have made no third Litigation. not Lot Option Contracts March 31, 2019, $19.3 $4.8 6,368

Note 18 - Derivative Financial

Note 18 - Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	1 8 . Derivative Financial Instruments The derivative instruments we utilize in the normal course of business are interest rate lock commitments and forward sales of mortgage-backed securities, both of which typically are short-term in nature. Forward sales of mortgage-backed securities are utilized to hedge changes in fair value of our interest rate lock commitments as well as mortgage loans held-for-sale not At March 31, 2019, $149.4 $14.1 March 31, 2019 not not $121.0 March 31, 2019. For the three March 31, 2019 2018, $0.9 $1.5

Note 19 - Lines of Credit

Note 19 - Lines of Credit	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	1 9 . Lines of Credit Revolving Credit Facility. may November 1, 2018 1 December 18, 2023, ( 2 $700 $1.0 3 may not $1.5 1 0.0%, 2 3 1.50%, 4 1.00% 55%, may not no 55% The Revolving Credit Facility is fully and unconditionally guaranteed, jointly and severally, by most of our homebuilding segment subsidiaries. The facility contains various representations, warranties and covenants that we believe are customary for agreements of this type. The financial covenants include a consolidated tangible net worth test and a leverage test, along with a consolidated tangible net worth covenant, all as defined in the Revolving Credit Facility. A failure to satisfy the foregoing tests does not not The Revolving Credit Facility is subject to acceleration upon certain specified events of default, including breach of the consolidated tangible net worth covenant, a violation of anti-corruption or sanctions laws, failure to make timely payments, breaches of certain representations or covenants, failure to pay other material indebtedness, or another person becoming beneficial owner of 50% March 31, 2019. We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At March 31, 2019 December 31, 2018, $27.6 $27.8 $15.0 March 31, 2019 December 31, 2018. March 31, 2019, $957.4 Mortgage Repurchase Facility. August 9, 2018, August 8, 2019. $75 $75 November 12, 2008, may March 27, 2019 $75 $100 April 24, 2019. $75 $130 December 27, 2018 January 25, 2019. March 31, 2019 December 31, 2018, $84.9 $116.8 The Mortgage Repurchase Facility contains various representations, warranties and affirmative and negative covenants that we believe are customary for agreements of this type. The negative covenants include, among others, (i) a minimum Adjusted Tangible Net Worth requirement, (ii) a maximum Adjusted Tangible Net Worth ratio, (iii) a minimum adjusted net income requirement, and (iv) a minimum Liquidity requirement. The foregoing capitalized terms are defined in the Mortgage Repurchase Facility. We believe HomeAmerican was in compliance with the representations, warranties and covenants included in the Mortgage Repurchase Facility as of March 31, 2019.

Note 20 - Related Party Transac

Note 20 - Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	20 . Related Party Transactions We contributed $0.5 three March 31, 2019. 501 3 March 31, 2019, Name MDC Title Larry A. Mizel Chairman and CEO David D. Mandarich President and COO Three other individuals, who are independent of the Company, also serve as directors of the Foundation. All directors of the Foundation serve without compensation. The Company has a sublease agreement with CVentures, Inc. Larry A. Mizel, the Chief Executive Officer of the Company, is the President of CVentures, Inc. The sublease is for office space that CVentures, Inc. has continuously leased from the Company since 2005. November 1, 2016 October 31, 2021, October 31, 2026. 5,437 $26.50 $28.68 $29.26 $31.67

Note 21 - Supplemental Guaranto

Note 21 - Supplemental Guarantor Information	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	2 1 . Supplemental Guarantor Information Our senior notes are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by the following subsidiaries (collectively, the "Guarantor Subsidiaries"), which are 100% ● M.D.C. Land Corporation ● RAH of Florida, Inc. ● Richmond American Construction, Inc. ● Richmond American Homes of Arizona, Inc. ● Richmond American Homes of Colorado, Inc. ● Richmond American Homes of Florida, LP ● Richmond American Homes of Illinois, Inc. ● Richmond American Homes of Maryland, Inc. ● Richmond American Homes of Nevada, Inc. ● Richmond American Homes of New Jersey, Inc. ● Richmond American Homes of Oregon, Inc. ● Richmond American Homes of Pennsylvania, Inc. ● Richmond American Homes of Utah, Inc. ● Richmond American Homes of Virginia, Inc. ● Richmond American Homes of Washington, Inc. The senior note indentures do not may 1 no 2 5% 3 10% 15% 4 not 5 December 3, 2002, We have determined that separate, full financial statements of the Guarantor Subsidiaries would not Supplemental Condensed Combining Balance Sheet March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) ASSETS Homebuilding: Cash and cash equivalents $ 411,750 $ 4,624 $ - $ - $ 416,374 Restricted cash - 8,136 - - 8,136 Trade and other receivables 589 67,371 - - 67,960 Inventories: Housing completed or under construction - 950,274 - - 950,274 Land and land under development - 1,198,824 - - 1,198,824 Total inventories - 2,149,098 - - 2,149,098 Intercompany receivables 1,939,500 6,509 - (1,946,009 ) - Investment in subsidiaries 272,420 - - (272,420 ) - Property and equipment, net 23,608 36,157 - - 59,765 Operating lease right-of-use asset 32,604 - - - 32,604 Deferred tax asset, net 34,513 - - (9 ) 34,504 Prepaid and other assets 11,050 31,495 - - 42,545 Total homebuilding assets 2,726,034 2,303,390 - (2,218,438 ) 2,810,986 Financial Services: Cash and cash equivalents - - 51,556 - 51,556 Marketable securities - - 45,767 - 45,767 Intercompany receivables - - 21,713 (21,713 ) - Mortgage loans held-for-sale, net - - 110,810 - 110,810 Other assets - - 15,791 9 15,800 Total financial services assets - - 245,637 (21,704 ) 223,933 Total Assets $ 2,726,034 $ 2,303,390 $ 245,637 $ (2,240,142 ) $ 3,034,919 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 39 $ 58,531 $ - $ - $ 58,570 Accrued liabilities 50,285 132,666 - 2,180 185,131 Operating lease liabilities 33,460 - - - 33,460 Advances and notes payable to parent and subsidiaries 28,222 1,930,727 296 (1,959,245 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 988,322 - - - 988,322 Total homebuilding liabilities 1,115,328 2,121,924 296 (1,957,065 ) 1,280,483 Financial Services: Accounts payable and other liabilities - - 61,054 (2,180 ) 58,874 Advances and notes payable to parent and subsidiaries - - 8,477 (8,477 ) - Mortgage repurchase facility - - 84,856 - 84,856 Total financial services liabilities - - 154,387 (10,657 ) 143,730 Total Liabilities 1,115,328 2,121,924 154,683 (1,967,722 ) 1,424,213 Equity: Total Stockholders' Equity 1,610,706 181,466 90,954 (272,420 ) 1,610,706 Total Liabilities and Stockholders' Equity $ 2,726,034 $ 2,303,390 $ 245,637 $ (2,240,142 ) $ 3,034,919 Supplemental Condensed Combining Balance Sheet December 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) ASSETS Homebuilding: Cash and cash equivalents $ 410,127 $ 4,597 $ - $ - $ 414,724 Restricted cash - 6,363 - - 6,363 Trade and other receivables 758 52,224 - - 52,982 Inventories: Housing completed or under construction - 952,436 - - 952,436 Land and land under development - 1,180,558 - - 1,180,558 Total inventories - 2,132,994 - - 2,132,994 Intercompany receivables 1,735,342 7,369 - (1,742,711 ) - Investment in subsidiaries 455,848 - - (455,848 ) - Property and equipment, net 23,896 34,271 - - 58,167 Deferred tax assets, net 36,168 - - 1,010 37,178 Metropolitan district bond securities (related party) - - - - - Other assets 12,234 33,560 - - 45,794 Total Homebuilding Assets 2,674,373 2,271,378 - (2,197,549 ) 2,748,202 Financial Services: Cash and cash equivalents - - 49,052 - 49,052 Marketable securities - - 40,879 - 40,879 Intercompany receivables - - 22,346 (22,346 ) - Mortgage loans held-for-sale, net - - 149,211 - 149,211 Other assets - - 14,743 (1,010 ) 13,733 Total Financial Services Assets - - 276,231 (23,356 ) 252,875 Total Assets $ 2,674,373 $ 2,271,378 $ 276,231 $ (2,220,905 ) $ 3,001,077 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ - $ 50,505 $ - $ - $ 50,505 Accrued liabilities 65,691 125,387 - 5,169 196,247 Advances and notes payable to parent and subsidiaries 29,715 1,727,248 295 (1,757,258 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 987,967 - - - 987,967 Total Homebuilding Liabilities 1,098,373 1,903,140 295 (1,752,089 ) 1,249,719 Financial Services: Accounts payable and accrued liabilities - - 63,712 (5,169 ) 58,543 Advances and notes payable to parent and subsidiaries - - 7,799 (7,799 ) - Mortgage repurchase facility - - 116,815 - 116,815 Total Financial Services Liabilities - - 188,326 (12,968 ) 175,358 Total Liabilities 1,098,373 1,903,140 188,621 (1,765,057 ) 1,425,077 Equity: Total Stockholders' Equity 1,576,000 368,238 87,610 (455,848 ) 1,576,000 Total Liabilities and Stockholders' Equity $ 2,674,373 $ 2,271,378 $ 276,231 $ (2,220,905 ) $ 3,001,077 Supplementa l Condensed Combining Statement of Operations Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 647,278 $ - $ - $ 647,278 Cost of sales - (524,552 ) - - (524,552 ) Inventory impairments - (610 ) - - (610 ) Gross margin - 122,116 - - 122,116 Selling, general, and administrative expenses (17,438 ) (64,701 ) - (122 ) (82,261 ) Equity income of subsidiaries 52,165 - - (52,165 ) - Interest and other income 2,409 155 - (173 ) 2,391 Other expense 7 (1,198 ) - - (1,191 ) Homebuilding pretax income (loss) 37,143 56,372 - (52,460 ) 41,055 Financial Services: Financial services pretax income - - 14,256 295 14,551 Income before income taxes 37,143 56,372 14,256 (52,165 ) 55,606 (Provision) benefit for income taxes 3,407 (15,264 ) (3,199 ) - (15,056 ) Net income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Three Months Ended March 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 607,688 $ - $ - $ 607,688 Cost of sales - (496,632 ) - - (496,632 ) Inventory impairments - (550 ) - - (550 ) Gross margin - 110,506 - - 110,506 Selling, general, and administrative expenses (12,808 ) (58,329 ) - (204 ) (71,341 ) Equity income of subsidiaries 47,169 - - (47,169 ) - Interest and other income 1,773 318 2 (234 ) 1,859 Other expense 7 (570 ) - - (563 ) Homebuilding pretax income (loss) 36,141 51,925 2 (47,607 ) 40,461 Financial Services: Financial services pretax income - - 9,633 438 10,071 Income before income taxes 36,141 51,925 9,635 (47,169 ) 50,532 (Provision) benefit for income taxes 2,623 (12,092 ) (2,299 ) - (11,768 ) Net income $ 38,764 $ 39,833 $ 7,336 $ (47,169 ) $ 38,764 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 38,764 $ 39,833 $ 7,336 $ (47,169 ) $ 38,764 Supplementa l Condensed Combining Statement of Cash Flows Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (18,145 ) $ 31,508 $ 40,985 $ - $ 54,348 Net cash provided by (used in) investing activities 29,796 (6,094 ) (93 ) (30,043 ) (6,434 ) Financing activities: Payments from (advances to) subsidiaries - (23,614 ) (6,429 ) 30,043 - Mortgage repurchase facility - - (31,959 ) - (31,959 ) Dividend payments (17,115 ) - - - (17,115 ) Proceeds from exercise of stock options 7,087 - - - 7,087 Net cash provided by (used in) financing activities (10,028 ) (23,614 ) (38,388 ) 30,043 (41,987 ) Net increase (decrease) in cash and cash equivalents 1,623 1,800 2,504 - 5,927 Cash and cash equivalents: Beginning of period 410,127 10,960 49,052 - 470,139 End of period $ 411,750 $ 12,760 $ 51,556 $ - $ 476,066 Three Months Ended March 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (8,950 ) $ (79,547 ) $ 27,011 $ - $ (61,486 ) Net cash provided by (used in) investing activities (94,576 ) (6,250 ) (60 ) 94,509 (6,377 ) Financing activities: Payments from (advances to) subsidiaries - 83,203 11,306 (94,509 ) - Mortgage repurchase facility - - (22,214 ) - (22,214 ) Dividend payments (16,865 ) - - - (16,865 ) Proceeds from the exercise of stock options 282 - - - 282 Net cash provided by (used in) financing activities (16,583 ) 83,203 (10,908 ) (94,509 ) (38,797 ) Net increase (decrease) in cash and cash equivalents (120,109 ) (2,594 ) 16,043 - (106,660 ) Cash and cash equivalents: Beginning of period 468,718 13,051 32,471 - 514,240 End of period $ 348,609 $ 10,457 $ 48,514 $ - $ 407,580

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of New Accounting Standards Accounting Standards Update (“ASU”) 2016 02, Leases 2016 02” 842, Leases 842” 842 840 842 January 1, 2019, 842 not 842. Adoption of ASC 842 $34.2 $34.3 January 1, 2019. not Accounting Standards Issued But Not In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13 2016 13 January 1, 2020, not 2016 13 not

Note 3 - Segment Reporting (Tab

Note 3 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Homebuilding West $ 369,558 $ 319,509 Mountain 209,192 208,632 East 68,528 79,547 Total homebuilding revenues $ 647,278 $ 607,688 Financial Services Mortgage operations $ 10,174 $ 12,696 Other 7,230 6,339 Total financial services revenues $ 17,404 $ 19,035
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Homebuilding West $ 33,200 $ 24,373 Mountain 21,714 24,185 East 1,473 3,375 Corporate (15,332 ) (11,472 ) Total homebuilding pretax income $ 41,055 $ 40,461 Financial Services Mortgage operations $ 4,993 $ 7,520 Other 9,558 2,551 Total financial services pretax income $ 14,551 $ 10,071 Total pretax income $ 55,606 $ 50,532
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, December 31, 2019 2018 (Dollars in thousands) Homebuilding assets West $ 1,307,761 $ 1,301,374 Mountain 818,451 793,150 East 170,670 169,485 Corporate 514,104 484,193 Total homebuilding assets $ 2,810,986 $ 2,748,202 Financial services assets Mortgage operations $ 123,139 $ 159,677 Other 100,794 93,198 Total financial services assets $ 223,933 $ 252,875 Total assets $ 3,034,919 $ 3,001,077

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands, except per share amounts) Numerator Net income $ 40,550 $ 38,764 Less: distributed earnings allocated to participating securities (111 ) (105 ) Less: undistributed earnings allocated to participating securities (139 ) (124 ) Net income attributable to common stockholders (numerator for basic earnings per share) 40,300 38,535 Add back: undistributed earnings allocated to participating securities 139 124 Less: undistributed earnings reallocated to participating securities (136 ) (122 ) Numerator for diluted earnings per share under two class method $ 40,303 $ 38,537 Denominator Weighted-average common shares outstanding 60,939,364 60,340,774 Add: dilutive effect of stock options 1,217,846 1,106,789 Add: dilutive effect of performance stock units 551,124 - Denominator for diluted earnings per share under two class method 62,708,334 61,447,563 Basic Earnings Per Common Share $ 0.66 $ 0.64 Diluted Earnings Per Common Share $ 0.64 $ 0.63

Note 5 - Accumulated Other Co_2

Note 5 - Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Beginning balance 1 $ - $ 3,992 Adoption of accounting standards - (3,992 ) Ending balance $ - $ -

Note 6 - Fair Value Measureme_2

Note 6 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Financial Instrument Hierarchy March 31, 2019 December 31, 2018 (Dollars in thousands) Cash and cash equivalents Debt securities (available-for-sale) Level 1 $ 34,860 $ 34,866 Marketable securities Equity securities Level 1 $ 45,767 $ 40,879 Mortgage loans held-for-sale, net Level 2 $ 110,810 $ 149,211
Available-for-sale Securities [Table Text Block]	March 31, 2019 Amortized Cost Basis OTTI Net Amortized Cost Fair Value (Dollars in thousands) Financial Services Cash and cash equivalents Debt securities $ 34,860 $ - $ 34,860 $ 34,860 December 31, 2018 Amortized Cost Basis OTTI Net Amortized Cost Fair Value Financial Services Cash and cash equivalents Debt securities $ 34,866 $ - $ 34,866 $ 34,866
Gain (Loss) on Securities [Table Text Block]	Three Months Ended March 31, 2019 2018 Net gain (loss) recognized during the period on equity securities $ 4,840 $ (1,153 ) Less: Net gain recognized during the period on equity securities sold during the period (237 ) (96 ) Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ 4,603 $ (1,057 )
Fair Value of Senior Notes [Table Text Block]	March 31, 2019 December 31, 2018 Carrying Fair Value Carrying Fair Value (Dollars in thousands) $250 Million 5⅝% Senior Notes due February 2020, net $ 249,109 $ 254,304 $ 248,850 $ 253,413 $250 Million 5½% Senior Notes due January 2024, net 248,841 258,479 248,789 242,983 $500 Million 6% Senior Notes due January 2043, net 490,372 434,117 490,328 386,552 Total $ 988,322 $ 946,900 $ 987,967 $ 882,948

Note 7 - Inventories (Tables)

Note 7 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Inventory [Table Text Block]	March 31, December 31, 2019 2018 (Dollars in thousands) Housing completed or under construction: West $ 516,900 $ 521,960 Mountain 356,177 347,738 East 77,197 82,738 Subtotal 950,274 952,436 Land and land under development: West 699,704 705,591 Mountain 420,155 402,657 East 78,965 72,310 Subtotal 1,198,824 1,180,558 Total inventories $ 2,149,098 $ 2,132,994
Schedule of Inventory Impairments [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) West $ - $ 375 Mountain 400 175 East 210 - Total inventory impairments $ 610 $ 550
Quantitative Data for Fair Value of the Impaired Inventory [Table Text Block]	Impairment Data Quantitative Data Three Months Ended Total Inventory Fair Value of After Impairments Number of Discount Rate (Dollars in thousands) March 31, 2019 16 $ 610 $ 10,476 2 N/A March 31, 2018 24 $ 550 $ 5,223 2 12 %

Note 8 - Capitalization of In_2

Note 8 - Capitalization of Interest (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Capitalization of Interest [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Homebuilding interest incurred $ 16,031 $ 15,625 Less: Interest capitalized (16,031 ) (15,625 ) Homebuilding interest expensed $ - $ - Interest capitalized, beginning of period $ 54,845 $ 57,541 Plus: Interest capitalized during period 16,031 15,625 Less: Previously capitalized interest included in home and land cost of sales (13,929 ) (14,428 ) Interest capitalized, end of period $ 56,947 $ 58,738

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2019 (Dollars in thousands) Operating lease cost 1 $ 1,980 Less: Sublease income (Note 20) (37 ) Net lease cost $ 1,943
Schedule of Lease Cash Flow Information [Table Text Block]	Three Months Ended March 31, 2019 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,771 Leased assets obtained in exchange for new operating lease liabilities $ 1,477
Schedule of Lease Terms and Discount Rates [Table Text Block]	March 31, 2019 Weighted-average remaining lease term (in years) 6.8 Weighted-average discount rate 5.5 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ended December 31, (Dollars in thousands) 2019 (excluding the three months ended March 31, 2019) $ 5,315 2020 6,317 2021 6,066 2022 5,752 2023 5,148 Thereafter 13,118 Total operating lease payments 1 $ 41,716 Less: Interest 7,133 Present value of operating lease liabilities 2 $ 34,583

Note 10 - Homebuilding Prepai_2

Note 10 - Homebuilding Prepaid and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Other Assets [Table Text Block]	March 31, December 31, 2019 2018 (Dollars in thousands) Land option deposits $ 21,951 $ 23,805 Goodwill 6,008 6,008 Prepaid expenses 6,614 7,324 Deferred debt issuance costs on revolving credit facility, net 7,279 7,662 Other 693 995 Total $ 42,545 $ 45,794

Note 11 - Homebuilding Accrue_2

Note 11 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2019 2018 (Dollars in thousands) Customer and escrow deposits $ 36,986 $ 34,463 Warranty accrual 29,992 28,262 Accrued compensation and related expenses 22,438 39,459 Accrued interest 13,281 27,734 Construction defect claim reserves 8,367 8,464 Land development and home construction accruals 9,064 8,683 Income taxes payable 18,337 6,245 Other accrued liabilities 46,666 42,937 Total accrued liabilities $ 185,131 $ 196,247
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	March 31, December 31, 2019 2018 (Dollars in thousands) Insurance reserves $ 47,852 $ 46,844 Accounts payable and other accrued liabilities 11,022 11,699 Total accounts payable and accrued liabilities $ 58,874 $ 58,543

Note 12 - Warranty Accrual (Tab

Note 12 - Warranty Accrual (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Balance at beginning of period $ 28,262 $ 21,909 Expense provisions 3,348 2,598 Cash payments (2,493 ) (2,500 ) Adjustments 875 3,106 Balance at end of period $ 29,992 $ 25,113

Note 13 - Insurance and Const_2

Note 13 - Insurance and Construction Defect Claim Reserves (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Balance at beginning of period $ 55,308 $ 52,686 Expense provisions 2,465 2,304 Cash payments, net of recoveries (1,554 ) (1,595 ) Balance at end of period $ 56,219 $ 53,395

Note 15 - Senior Notes (Tables)

Note 15 - Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Debt [Table Text Block]	March 31, December 31, 2019 2018 (Dollars in thousands) 5⅝% Senior Notes due February 2020, net $ 249,109 $ 248,850 5½% Senior Notes due January 2024, net 248,841 248,789 6% Senior Notes due January 2043, net 490,372 490,328 Total $ 988,322 $ 987,967

Note 16 - Stock-based Compens_2

Note 16 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Activity [Table Text Block]	Three Months Ended March 31, 2019 2018 (Dollars in thousands) Stock option grants expense $ 255 $ 56 Restricted stock awards expense 911 744 Performance share units expense 3,085 451 Total stock based compensation $ 4,251 $ 1,251
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Threshold Goal Target Goal Maximum Goal Awardee Date of Award Performance Period Base Period Base Period Revenues PSUs Home Sale Revenues PSUs Home Sale Revenues PSUs Home Sale Revenues Fair Value per Share Maximum Potential Expense to be Recognized* CEO July 1, 2016 July 1, 2015 61,236 122,472 244,944 $ 4,815 COO July 25, 2016 to to $1.975 billion 61,236 $2.074 billion 122,472 $2.173 billion 244,944 $2.370 billion $ 19.66 4,815 CFO June 30, 2019 June 30, 2016 15,309 30,618 61,236 1,204 $ 10,834 CEO April 1, 2017 April 1, 2016 64,152 128,304 256,608 $ 7,142 COO June 20, 2017 to to $2.426 billion 64,152 $2.547 billion 128,304 $2.669 billion 256,608 $2.911 billion $ 27.83 7,142 CFO March 31, 2020 March 31, 2017 16,038 32,076 64,152 1,786 $ 16,070 CEO April 1, 2018 April 1, 2017 64,800 129,600 259,200 $ 6,629 COO May 23, 2018 to to $2.543 billion 64,800 $2.670 billion 129,600 $2.797 billion 259,200 $3.052 billion $ 25.57 6,629 CFO March 31, 2021 March 31, 2018 16,200 32,400 64,800 1,657 _______________________ $ 14,915

Note 21 - Supplemental Guaran_2

Note 21 - Supplemental Guarantor Information (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Condensed Balance Sheet [Table Text Block]	March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) ASSETS Homebuilding: Cash and cash equivalents $ 411,750 $ 4,624 $ - $ - $ 416,374 Restricted cash - 8,136 - - 8,136 Trade and other receivables 589 67,371 - - 67,960 Inventories: Housing completed or under construction - 950,274 - - 950,274 Land and land under development - 1,198,824 - - 1,198,824 Total inventories - 2,149,098 - - 2,149,098 Intercompany receivables 1,939,500 6,509 - (1,946,009 ) - Investment in subsidiaries 272,420 - - (272,420 ) - Property and equipment, net 23,608 36,157 - - 59,765 Operating lease right-of-use asset 32,604 - - - 32,604 Deferred tax asset, net 34,513 - - (9 ) 34,504 Prepaid and other assets 11,050 31,495 - - 42,545 Total homebuilding assets 2,726,034 2,303,390 - (2,218,438 ) 2,810,986 Financial Services: Cash and cash equivalents - - 51,556 - 51,556 Marketable securities - - 45,767 - 45,767 Intercompany receivables - - 21,713 (21,713 ) - Mortgage loans held-for-sale, net - - 110,810 - 110,810 Other assets - - 15,791 9 15,800 Total financial services assets - - 245,637 (21,704 ) 223,933 Total Assets $ 2,726,034 $ 2,303,390 $ 245,637 $ (2,240,142 ) $ 3,034,919 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 39 $ 58,531 $ - $ - $ 58,570 Accrued liabilities 50,285 132,666 - 2,180 185,131 Operating lease liabilities 33,460 - - - 33,460 Advances and notes payable to parent and subsidiaries 28,222 1,930,727 296 (1,959,245 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 988,322 - - - 988,322 Total homebuilding liabilities 1,115,328 2,121,924 296 (1,957,065 ) 1,280,483 Financial Services: Accounts payable and other liabilities - - 61,054 (2,180 ) 58,874 Advances and notes payable to parent and subsidiaries - - 8,477 (8,477 ) - Mortgage repurchase facility - - 84,856 - 84,856 Total financial services liabilities - - 154,387 (10,657 ) 143,730 Total Liabilities 1,115,328 2,121,924 154,683 (1,967,722 ) 1,424,213 Equity: Total Stockholders' Equity 1,610,706 181,466 90,954 (272,420 ) 1,610,706 Total Liabilities and Stockholders' Equity $ 2,726,034 $ 2,303,390 $ 245,637 $ (2,240,142 ) $ 3,034,919 December 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) ASSETS Homebuilding: Cash and cash equivalents $ 410,127 $ 4,597 $ - $ - $ 414,724 Restricted cash - 6,363 - - 6,363 Trade and other receivables 758 52,224 - - 52,982 Inventories: Housing completed or under construction - 952,436 - - 952,436 Land and land under development - 1,180,558 - - 1,180,558 Total inventories - 2,132,994 - - 2,132,994 Intercompany receivables 1,735,342 7,369 - (1,742,711 ) - Investment in subsidiaries 455,848 - - (455,848 ) - Property and equipment, net 23,896 34,271 - - 58,167 Deferred tax assets, net 36,168 - - 1,010 37,178 Metropolitan district bond securities (related party) - - - - - Other assets 12,234 33,560 - - 45,794 Total Homebuilding Assets 2,674,373 2,271,378 - (2,197,549 ) 2,748,202 Financial Services: Cash and cash equivalents - - 49,052 - 49,052 Marketable securities - - 40,879 - 40,879 Intercompany receivables - - 22,346 (22,346 ) - Mortgage loans held-for-sale, net - - 149,211 - 149,211 Other assets - - 14,743 (1,010 ) 13,733 Total Financial Services Assets - - 276,231 (23,356 ) 252,875 Total Assets $ 2,674,373 $ 2,271,378 $ 276,231 $ (2,220,905 ) $ 3,001,077 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ - $ 50,505 $ - $ - $ 50,505 Accrued liabilities 65,691 125,387 - 5,169 196,247 Advances and notes payable to parent and subsidiaries 29,715 1,727,248 295 (1,757,258 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 987,967 - - - 987,967 Total Homebuilding Liabilities 1,098,373 1,903,140 295 (1,752,089 ) 1,249,719 Financial Services: Accounts payable and accrued liabilities - - 63,712 (5,169 ) 58,543 Advances and notes payable to parent and subsidiaries - - 7,799 (7,799 ) - Mortgage repurchase facility - - 116,815 - 116,815 Total Financial Services Liabilities - - 188,326 (12,968 ) 175,358 Total Liabilities 1,098,373 1,903,140 188,621 (1,765,057 ) 1,425,077 Equity: Total Stockholders' Equity 1,576,000 368,238 87,610 (455,848 ) 1,576,000 Total Liabilities and Stockholders' Equity $ 2,674,373 $ 2,271,378 $ 276,231 $ (2,220,905 ) $ 3,001,077
Condensed Income Statement [Table Text Block]	Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 647,278 $ - $ - $ 647,278 Cost of sales - (524,552 ) - - (524,552 ) Inventory impairments - (610 ) - - (610 ) Gross margin - 122,116 - - 122,116 Selling, general, and administrative expenses (17,438 ) (64,701 ) - (122 ) (82,261 ) Equity income of subsidiaries 52,165 - - (52,165 ) - Interest and other income 2,409 155 - (173 ) 2,391 Other expense 7 (1,198 ) - - (1,191 ) Homebuilding pretax income (loss) 37,143 56,372 - (52,460 ) 41,055 Financial Services: Financial services pretax income - - 14,256 295 14,551 Income before income taxes 37,143 56,372 14,256 (52,165 ) 55,606 (Provision) benefit for income taxes 3,407 (15,264 ) (3,199 ) - (15,056 ) Net income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Three Months Ended March 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 607,688 $ - $ - $ 607,688 Cost of sales - (496,632 ) - - (496,632 ) Inventory impairments - (550 ) - - (550 ) Gross margin - 110,506 - - 110,506 Selling, general, and administrative expenses (12,808 ) (58,329 ) - (204 ) (71,341 ) Equity income of subsidiaries 47,169 - - (47,169 ) - Interest and other income 1,773 318 2 (234 ) 1,859 Other expense 7 (570 ) - - (563 ) Homebuilding pretax income (loss) 36,141 51,925 2 (47,607 ) 40,461 Financial Services: Financial services pretax income - - 9,633 438 10,071 Income before income taxes 36,141 51,925 9,635 (47,169 ) 50,532 (Provision) benefit for income taxes 2,623 (12,092 ) (2,299 ) - (11,768 ) Net income $ 38,764 $ 39,833 $ 7,336 $ (47,169 ) $ 38,764 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 38,764 $ 39,833 $ 7,336 $ (47,169 ) $ 38,764
Condensed Cash Flow Statement [Table Text Block]	Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (18,145 ) $ 31,508 $ 40,985 $ - $ 54,348 Net cash provided by (used in) investing activities 29,796 (6,094 ) (93 ) (30,043 ) (6,434 ) Financing activities: Payments from (advances to) subsidiaries - (23,614 ) (6,429 ) 30,043 - Mortgage repurchase facility - - (31,959 ) - (31,959 ) Dividend payments (17,115 ) - - - (17,115 ) Proceeds from exercise of stock options 7,087 - - - 7,087 Net cash provided by (used in) financing activities (10,028 ) (23,614 ) (38,388 ) 30,043 (41,987 ) Net increase (decrease) in cash and cash equivalents 1,623 1,800 2,504 - 5,927 Cash and cash equivalents: Beginning of period 410,127 10,960 49,052 - 470,139 End of period $ 411,750 $ 12,760 $ 51,556 $ - $ 476,066 Three Months Ended March 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (8,950 ) $ (79,547 ) $ 27,011 $ - $ (61,486 ) Net cash provided by (used in) investing activities (94,576 ) (6,250 ) (60 ) 94,509 (6,377 ) Financing activities: Payments from (advances to) subsidiaries - 83,203 11,306 (94,509 ) - Mortgage repurchase facility - - (22,214 ) - (22,214 ) Dividend payments (16,865 ) - - - (16,865 ) Proceeds from the exercise of stock options 282 - - - 282 Net cash provided by (used in) financing activities (16,583 ) 83,203 (10,908 ) (94,509 ) (38,797 ) Net increase (decrease) in cash and cash equivalents (120,109 ) (2,594 ) 16,043 - (106,660 ) Cash and cash equivalents: Beginning of period 468,718 13,051 32,471 - 514,240 End of period $ 348,609 $ 10,457 $ 48,514 $ - $ 407,580

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	Jan. 28, 2019
Dividends Payable, Date Declared	Jan. 28, 2019
Stock Dividend Rate, Percentage	8.00%
Dividends Payable, Date to be Paid	Feb. 28, 2019
Dividends Payable, Date of Record	Feb. 14, 2019

Note 2 - Recently Issued Acco_2

Note 2 - Recently Issued Accounting Standards (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease, Right-of-Use Asset	$ 33,500
Operating Lease, Liability, Total	34,583
Homebuilding Segment [Member]
Operating Lease, Right-of-Use Asset	32,604
Operating Lease, Liability, Total	$ 33,460
Accounting Standards Update 2016-02 [Member] | Homebuilding Segment [Member]
Operating Lease, Right-of-Use Asset		$ 34,200
Operating Lease, Liability, Total		$ 34,300

Note 3 - Segment Reporting (Det

Note 3 - Segment Reporting (Details Textual)	3 Months Ended
	Mar. 31, 2019
Other Segments [Member]
Number of Reportable Segments	1

Note 3 - Segment Reporting - Re

Note 3 - Segment Reporting - Reconciliation of Revenue From Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Homebuilding Segment [Member]
Revenues	$ 647,278	$ 607,688
Homebuilding Segment [Member] | Reportable Segment, West [Member]
Revenues	369,558	319,509
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member]
Revenues	209,192	208,632
Homebuilding Segment [Member] | Reportable Segment, East [Member]
Revenues	68,528	79,547
Financial Services Segment [Member]
Revenues	17,404	19,035
Financial Services Segment [Member] | Mortgage Operations [Member]
Revenues	10,174	12,696
Financial Services Segment [Member] | Other Financial Services [Member]
Revenues	$ 7,230	$ 6,339

Note 3 - Segment Reporting - _2

Note 3 - Segment Reporting - Reconciliation of Pretax Operating Income From Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pretax income	$ 55,606	$ 50,532
Homebuilding Segment [Member]
Pretax income	41,055	40,461
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, West [Member]
Pretax income	33,200	24,373
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, Mountain [Member]
Pretax income	21,714	24,185
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, East [Member]
Pretax income	1,473	3,375
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Pretax income	(15,332)	(11,472)
Financial Services Segment [Member]
Pretax income	14,551	10,071
Financial Services Segment [Member] | Operating Segments [Member] | Mortgage Operations [Member]
Pretax income	4,993	7,520
Financial Services Segment [Member] | Operating Segments [Member] | Other Financial Services [Member]
Pretax income	$ 9,558	$ 2,551

Note 3 - Segment Reporting - To

Note 3 - Segment Reporting - Total Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets	$ 3,034,919	$ 3,001,077
Homebuilding Segment [Member]
Assets	2,810,986	2,748,202
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Assets	514,104	484,193
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Operating Segments [Member]
Assets	1,307,761	1,301,374
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Operating Segments [Member]
Assets	818,451	793,150
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Operating Segments [Member]
Assets	170,670	169,485
Financial Services Segment [Member]
Assets	223,933	252,875
Financial Services Segment [Member] | Mortgage Operations [Member] | Operating Segments [Member]
Assets	123,139	159,677
Financial Services Segment [Member] | Other Financial Services [Member] | Operating Segments [Member]
Assets	$ 100,794	$ 93,198

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.5	0.1

Note 4 - Earnings Per Share - B

Note 4 - Earnings Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 40,550	$ 38,764
Less: distributed earnings allocated to participating securities	(111)	(105)
Less: undistributed earnings allocated to participating securities	(139)	(124)
Net income attributable to common stockholders (numerator for basic earnings per share)	40,300	38,535
Add back: undistributed earnings allocated to participating securities	139	124
Less: undistributed earnings reallocated to participating securities	(136)	(122)
Numerator for diluted earnings per share under two class method	$ 40,303	$ 38,537
Weighted-average common shares outstanding (in shares)	60,939,364	60,340,774
Denominator for diluted earnings per share under two class method (in shares)	62,708,334	61,447,563
Basic Earnings Per Common Share (in dollars per share)	$ 0.66	$ 0.64
Diluted Earnings Per Common Share (in dollars per share)	$ 0.64	$ 0.63
Share-based Payment Arrangement, Option [Member]
Add: dilutive effect of share-based compensation (in shares)	1,217,846	1,106,789
Performance Shares [Member]
Add: dilutive effect of share-based compensation (in shares)	551,124

Note 5 - Accumulated Other Co_3

Note 5 - Accumulated Other Comprehensive Income - Changes in AOCI (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Beginning balance 1		$ 1,576,000	$ 1,407,287
Ending balance		1,610,706	1,432,493
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Equity Securities [Member]
Beginning balance 1	[1]		3,992
Adoption of accounting standards			(3,992)
Ending balance
[1]	All amounts net-of-tax.

Note 6 - Fair Value Measureme_3

Note 6 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Minimum [Member]
Short Term Borrowings Maturity Period	30 days
Financial Services Segment [Member]
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	$ 110,810		$ 149,211
Gain (Loss) on Sale of Mortgage Loans	11,700	$ 9,000
Fair Value, Inputs, Level 2 [Member] | Under Commitment to Sell [Member]
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	96,200		130,800
Fair Value, Inputs, Level 2 [Member] | Not Under Commitment to Sell [Member]
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	$ 14,600		$ 18,500

Note 6 - Fair Value Measureme_4

Note 6 - Fair Value Measurements - Fair Value Methods Used for Measuring Fair Values of Financial Instruments on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Inputs, Level 1 [Member]
Equity securities	$ 45,767	$ 40,879
Fair Value, Inputs, Level 2 [Member]
Mortgage loans held-for-sale, net	110,810	149,211
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities (available-for-sale)	$ 34,860	$ 34,866

Note 6 - Fair Value Measureme_5

Note 6 - Fair Value Measurements - Amortized Cost and Estimated Fair Value of Available-for-sale Marketable Securities (Details) - Cash and Cash Equivalents [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Financial Services Segment [Member]
Amortized Cost	$ 34,860
OTTI
Net Amortized Cost	34,860
Fair Value	$ 34,860
Homebuilding Segment [Member]
Amortized Cost		$ 34,866
OTTI
Net Amortized Cost		34,866
Fair Value		$ 34,866

Note 6 - Fair Value Measureme_6

Note 6 - Fair Value Measurements - Reconciles Net Loss to Unrealized Loss on Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net gain (loss) recognized during the period on equity securities	$ 4,840	$ (1,153)
Less: Net gain recognized during the period on equity securities sold during the period	(237)	(96)
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$ 4,603	$ (1,057)

Note 6 - Fair Value Measureme_7

Note 6 - Fair Value Measurements - Estimated Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Senior Notes, Carrying Amount	$ 988,322	$ 987,967
Reported Value Measurement [Member]
Senior Notes, Carrying Amount	988,322	987,967
Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	946,900	882,948
Senior Notes 5.625% Due February 2020 [Member]
Senior Notes, Carrying Amount	249,109	248,850
Senior Notes 5.625% Due February 2020 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	249,109	248,850
Senior Notes 5.625% Due February 2020 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	254,304	253,413
Senior Notes 5.5% Due January 2024 [Member]
Senior Notes, Carrying Amount	248,841	248,789
Senior Notes 5.5% Due January 2024 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	248,841	248,789
Senior Notes 5.5% Due January 2024 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	258,479	242,983
Senior Notes 6% Due January 2043 [Member]
Senior Notes, Carrying Amount	490,372	490,328
Senior Notes 6% Due January 2043 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	490,372	490,328
Senior Notes 6% Due January 2043 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	$ 434,117	$ 386,552

Note 6 - Fair Value Measureme_8

Note 6 - Fair Value Measurements - Estimated Fair Value of Senior Notes (Details) (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Senior Notes 5.625% Due February 2020 [Member]
Senior Notes, interest rate	5.625%	5.625%
Senior Notes 5.625% Due February 2020 [Member] | Reported Value Measurement [Member]
Senior Notes, interest rate	5.625%	5.625%
Senior Notes, face amount	$ 250	$ 250
Senior Notes 5.625% Due February 2020 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, interest rate	5.625%	5.625%
Senior Notes, face amount	$ 250	$ 250
Senior Notes 5.5% Due January 2024 [Member]
Senior Notes, interest rate	5.50%	5.50%
Senior Notes 5.5% Due January 2024 [Member] | Reported Value Measurement [Member]
Senior Notes, interest rate	5.50%	5.50%
Senior Notes, face amount	$ 250	$ 250
Senior Notes 5.5% Due January 2024 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, interest rate	5.50%	5.50%
Senior Notes, face amount	$ 250	$ 250
Senior Notes 6% Due January 2043 [Member]
Senior Notes, interest rate	6.00%	6.00%
Senior Notes 6% Due January 2043 [Member] | Reported Value Measurement [Member]
Senior Notes, interest rate	6.00%	6.00%
Senior Notes, face amount	$ 500	$ 500
Senior Notes 6% Due January 2043 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, interest rate	6.00%	6.00%
Senior Notes, face amount	$ 500	$ 500

Note 7 - Inventories - Summary

Note 7 - Inventories - Summary of Inventory (Details) - Homebuilding Segment [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Housing completed or under construction:
Housing Completed or Under Construction	$ 950,274	$ 952,436
Land and land under development:
Land and Land Under Development	1,198,824	1,180,558
Total inventories	2,149,098	2,132,994
Reportable Segment, West [Member]
Housing completed or under construction:
Housing Completed or Under Construction	516,900	521,960
Land and land under development:
Land and Land Under Development	699,704	705,591
Reportable Segment, Mountain [Member]
Housing completed or under construction:
Housing Completed or Under Construction	356,177	347,738
Land and land under development:
Land and Land Under Development	420,155	402,657
Reportable Segment, East [Member]
Housing completed or under construction:
Housing Completed or Under Construction	77,197	82,738
Land and land under development:
Land and Land Under Development	$ 78,965	$ 72,310

Note 7 - Inventories - Inventor

Note 7 - Inventories - Inventory Impairments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Impairment Data; Inventory Impairments	$ 610	$ 550
Homebuilding Segment [Member]
Impairment Data; Inventory Impairments	610	550
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments		375
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments	400	175
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments	$ 210

Note 7 - Inventories - Fair Val

Note 7 - Inventories - Fair Value of Impaired Inventory (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Impairment Data; Total Subdivisions Tested	16	24
Impairment Data; Inventory Impairments	$ 610	$ 550
Impairment Data; Fair Value of Inventory After Impairments	$ 10,476	$ 5,223
Impairment Data; Number of Subdivisions Impaired	2	2
Measurement Input, Discount Rate [Member] | Minimum [Member]
Quantitative Data; Discount Rate		0.12

Note 8 - Capitalization of In_3

Note 8 - Capitalization of Interest - Interest Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Homebuilding interest incurred	$ 16,031	$ 15,625
Less: Interest capitalized	(16,031)	(15,625)
Homebuilding interest expensed
Interest capitalized, beginning of period	54,845	57,541
Plus: Interest capitalized during period	16,031	15,625
Less: Previously capitalized interest included in home and land cost of sales	(13,929)	(14,428)
Interest capitalized, end of period	$ 56,947	$ 58,738

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) $ in Thousands	Mar. 31, 2019USD ($)
Operating Lease, Right-of-Use Asset	$ 33,500
Operating Lease, Liability, Total	34,583
Lessee, Operating Lease, Lease Not yet Commenced, Payment	600
Financial Services Segment [Member] | Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability, Total	$ 1,100
Company Headquarters [Member]
Lessee, Operating Lease, Term of Contract	10 years
Lessee, Operating Lease, Renewal Term	10 years
Minimum [Member]
Lessee, Operating Lease, Term of Contract	3 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract	5 years

Note 9 - Leases - Components of

Note 9 - Leases - Components of Operating Lease Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Operating lease cost	$ 1,980	[1]
Less: Sublease income (Note 20)	(37)
Net lease cost	$ 1,943
[1]	Includes variable lease costs, which are immaterial.

Note 9 - Leases - Supplemental

Note 9 - Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Operating cash flows from operating leases	$ 1,771
Leased assets obtained in exchange for new operating lease liabilities	$ 1,477

Note 9 - Leases - Weighted Aver

Note 9 - Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2019
Weighted-average remaining lease term (in years) (Year)	6 years 292 days
Weighted-average discount rate	5.50%

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019USD ($)
2019 (excluding the three months ended March 31, 2019)	$ 5,315
2020	6,317
2021	6,066
2022	5,752
2023	5,148
Thereafter	13,118
Total operating lease payments 1	41,716
Less: Interest	7,133
Present value of operating lease liabilities 2	$ 34,583

Note 10 - Homebuilding Prepai_3

Note 10 - Homebuilding Prepaid and Other Assets - Summary of Homebuilding Prepaid and Other Assets (Details) - Homebuilding Segment [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Land option deposits	$ 21,951	$ 23,805
Goodwill	6,008	6,008
Prepaid expenses	6,614	7,324
Deferred debt issuance costs on revolving credit facility, net	7,279	7,662
Other	693	995
Total	$ 42,545	$ 45,794

Note 11 - Homebuilding Accrue_3

Note 11 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities - Homebuilding Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Warranty accrual	$ 29,992	$ 28,262	$ 25,113	$ 21,909
Homebuilding Segment [Member]
Customer and escrow deposits	36,986	34,463
Warranty accrual	29,992	28,262
Accrued compensation and related expenses	22,438	39,459
Accrued interest	13,281	27,734
Construction defect claim reserves	8,367	8,464
Land development and home construction accruals	9,064	8,683
Income taxes payable	18,337	6,245
Other accrued liabilities	46,666	42,937
Total accrued liabilities	$ 185,131	$ 196,247

Note 11 - Homebuilding Accrue_4

Note 11 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities - Financial Services Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Insurance reserves	$ 56,219	$ 55,308	$ 53,395	$ 52,686
Financial Services Segment [Member]
Insurance reserves	47,852	46,844
Accounts payable and other accrued liabilities	11,022	11,699
Total accounts payable and accrued liabilities	$ 58,874	$ 58,543

Note 12 - Warranty Accrual (Det

Note 12 - Warranty Accrual (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties, Total	$ 875	$ 3,106

Note 12 - Warranty Accrual - Wa

Note 12 - Warranty Accrual - Warranty Accrual and Payment Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance at beginning of period	$ 28,262	$ 21,909
Expense provisions	3,348	2,598
Cash payments	(2,493)	(2,500)
Adjustments	875	3,106
Balance at end of period	$ 29,992	$ 25,113

Note 13 - Insurance and Const_3

Note 13 - Insurance and Construction Defect Claim Reserves - Summary of Insurance and Defect Claim Reserves Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance at beginning of period	$ 55,308	$ 52,686
Expense provisions	2,465	2,304
Cash payments, net of recoveries	(1,554)	(1,595)
Balance at end of period	$ 56,219	$ 53,395

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	27.10%	23.30%
Income Tax Expense (Benefit), Total	$ 15,056	$ 11,768
Effective Income Tax Rate Reconciliation, Tax Credit, Amount, Total	0	$ 1,200
Deferred Tax Assets, Net, Total	$ 34,500		$ 37,200

Note 15 - Senior Notes - Carryi

Note 15 - Senior Notes - Carrying Amount of Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying amount	$ 988,322	$ 987,967
Senior Notes 5.625% Due February 2020 [Member]
Carrying amount	249,109	248,850
Senior Notes 5.5% Due January 2024 [Member]
Carrying amount	248,841	248,789
Senior Notes 6% Due January 2043 [Member]
Carrying amount	$ 490,372	$ 490,328

Note 15 - Senior Notes - Carr_2

Note 15 - Senior Notes - Carrying Amount of Senior Notes (Details) (Parentheticals)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Senior Notes 5.625% Due February 2020 [Member]
Senior Notes, interest rate	5.625%	5.625%
Maturity date	Feb. 29, 2020	Feb. 29, 2020
Senior Notes 5.5% Due January 2024 [Member]
Senior Notes, interest rate	5.50%	5.50%
Maturity date	Jan. 31, 2024	Jan. 31, 2024
Senior Notes 6% Due January 2043 [Member]
Senior Notes, interest rate	6.00%	6.00%
Maturity date	Jan. 31, 2043	Jan. 31, 2043

Note 16 - Stock-based Compens_3

Note 16 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		22 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	May 23, 2018
Share-based Payment Arrangement, Expense	$ 4,251	$ 1,251
Performance Shares [Member]
Share-based Payment Arrangement, Expense	3,085	451
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2016 [Member] | Expense Related to the Probable Achievement of the Threshold Goal [Member]
Share-based Payment Arrangement, Expense	900	500
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted In 2017 [Member] | Expense Related to the Probable Achievement of the Threshold Goal [Member]
Share-based Payment Arrangement, Expense	2,200	$ 0
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2018 [Member]
Share-based Payment Arrangement, Expense	$ 0
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | 5% to 10% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Target Goal Number of Shares			50.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Average Gross Margin of Home Sales, Percentage, Minimum			15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			10.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Minimum [Member] | 5% to 10% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			5.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Minimum [Member] | 20% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			20.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			20.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Maximum [Member] | 5% to 10% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			10.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Maximum [Member] | 20% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Target Goal Number of Shares			200.00%

Note 16 - Stock-based Compens_4

Note 16 - Stock-based Compensation - Share-based Award Expense Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based compensation expense	$ 4,251	$ 1,251
Share-based Payment Arrangement, Option [Member]
Share-based compensation expense	255	56
Restricted Stock [Member]
Share-based compensation expense	911	744
Performance Shares [Member]
Share-based compensation expense	$ 3,085	$ 451

Note 16 - Stock-based Compens_5

Note 16 - Stock-based Compensation - Performance Stock Units Granted (Details) - Performance Shares [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Maximum potential expense to be recognized | $	$ 14,915	[1]
July 25, 2016 [Member]
Maximum potential expense to be recognized | $	10,834	[1]
June 20, 2017 [Member]
Maximum potential expense to be recognized | $	$ 16,070	[1]
Chief Executive Officer [Member] | July 25, 2016 [Member]
Threshold goal, number of PSUs (in shares)	61,236
Target goal, number of PSUs (in shares)	122,472
Maximum goal, number of PSUs (in shares)	244,944
Maximum potential expense to be recognized | $	$ 4,815	[1]
Chief Executive Officer [Member] | June 20, 2017 [Member]
Threshold goal, number of PSUs (in shares)	64,152
Target goal, number of PSUs (in shares)	128,304
Maximum goal, number of PSUs (in shares)	256,608
Maximum potential expense to be recognized | $	$ 7,142	[1]
Maximum goal, home sale revenues | $
Chief Executive Officer [Member] | May 23, 2018 [Member]
Threshold goal, number of PSUs (in shares)	64,800
Target goal, number of PSUs (in shares)	129,600
Maximum goal, number of PSUs (in shares)	259,200
Maximum potential expense to be recognized | $	$ 6,629	[1]
Maximum goal, home sale revenues | $
Chief Operating Officer [Member] | July 25, 2016 [Member]
Threshold goal, number of PSUs (in shares)	61,236
Target goal, number of PSUs (in shares)	122,472
Maximum goal, number of PSUs (in shares)	244,944
Maximum potential expense to be recognized | $	$ 4,815	[1]
Base period revenues | $	1,975,000
Threshold goal, home sale revenues | $	2,074,000
Target goal, home sale revenues | $	2,173,000
Maximum goal, home sale revenues | $	$ 2,370,000
Fair value per share (in dollars per share) | $ / shares	$ 19.66
Chief Operating Officer [Member] | June 20, 2017 [Member]
Threshold goal, number of PSUs (in shares)	64,152
Target goal, number of PSUs (in shares)	128,304
Maximum goal, number of PSUs (in shares)	256,608
Maximum potential expense to be recognized | $	$ 7,142	[1]
Base period revenues | $	2,426,000
Threshold goal, home sale revenues | $	2,547,000
Target goal, home sale revenues | $	$ 2,669,000
Fair value per share (in dollars per share) | $ / shares	$ 27.83
Chief Operating Officer [Member] | May 23, 2018 [Member]
Threshold goal, number of PSUs (in shares)	64,800
Target goal, number of PSUs (in shares)	129,600
Maximum goal, number of PSUs (in shares)	259,200
Maximum potential expense to be recognized | $	$ 6,629	[1]
Base period revenues | $	2,543,000
Threshold goal, home sale revenues | $	2,670,000
Target goal, home sale revenues | $	$ 2,797,000
Fair value per share (in dollars per share) | $ / shares	$ 25.57
Chief Financial Officer [Member] | July 25, 2016 [Member]
Threshold goal, number of PSUs (in shares)	15,309
Target goal, number of PSUs (in shares)	30,618
Maximum goal, number of PSUs (in shares)	61,236
Maximum potential expense to be recognized | $	$ 1,204	[1]
Chief Financial Officer [Member] | June 20, 2017 [Member]
Threshold goal, number of PSUs (in shares)	16,038
Target goal, number of PSUs (in shares)	32,076
Maximum goal, number of PSUs (in shares)	64,152
Maximum potential expense to be recognized | $	$ 1,786	[1]
Chief Financial Officer [Member] | May 23, 2018 [Member]
Threshold goal, number of PSUs (in shares)	16,200
Target goal, number of PSUs (in shares)	32,400
Maximum goal, number of PSUs (in shares)	64,800
Maximum potential expense to be recognized | $	$ 1,657	[1]
[1]	Dollars in thousands

Note 17 - Commitments and Con_2

Note 17 - Commitments and Contingencies (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Surety Bonds, Outstanding, Amount	$ 245.5
Letters of Credit Outstanding, Amount	89.3
Estimated Cost Related to Bonds	126.6
Estimated Cost Related to Letters of Credit	51.2
Option Contracts [Member]
Letters of Credit Outstanding, Amount	4.8
Earnest Money Deposits	19.3
HomeAmerican [Member]
Letters of Credit Outstanding, Amount	$ 61.7

Note 18 - Derivative Financia_2

Note 18 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative, Gain (Loss) on Derivative, Net, Total	$ 0.9	$ 1.5
Commitment to Originate Mortgage Loans [Member]
Notional Amount of Forward Rate Commitments and Futures Contracts to Hedge against Mortgage Servicing Rights	149.4
No Commitment to Originate Mortgage Loans [Member]
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	14.1
Forward Sales of Mortgage Backed Securities [Member]
Notional Amount of Forward Rate Commitments and Futures Contracts to Hedge against Mortgage Servicing Rights	$ 121

Note 19 - Lines of Credit (Deta

Note 19 - Lines of Credit (Details Textual) - USD ($) $ in Millions	Nov. 01, 2018	Mar. 31, 2019	Mar. 27, 2019	Dec. 31, 2018	Dec. 27, 2018	Aug. 09, 2018	Jun. 25, 2018	Dec. 26, 2017	Sep. 29, 2017
Letters of Credit Outstanding, Amount		$ 89.3
Maximum [Member] | Borrowing Base is Required [Member]
Line of Credit Facility, Leverage Ratio	55.00%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000								$ 700
Line of Credit Facility, Potential Maximum Borrowing Capacity, Subject to Additional Commitments	$ 1,500
Debt Instrument, Interest Rate, Stated Percentage	0.00%
Debt Instrument, Covenant, Maximum Leverage Ratio	55.00%
Debt Instrument, Covenant, Minimum Common Stock Outstanding Ownership, Percentage		50.00%
Letters of Credit Outstanding, Amount		$ 27.6		$ 27.8
Long-term Line of Credit, Total		15		15
Line of Credit Facility, Remaining Borrowing Capacity		957.4
Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Revolving Credit Facility [Member] | Specified Eurocurrency Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Mortgage Repurchase Facility [Member] | Warehouse Agreement Borrowings [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 100		$ 130	$ 75	$ 75	$ 75
Line of Credit Facility, Maximum Increase to Borrowing Capacity						$ 75
Warehouse Agreement Borrowings, Total		$ 84.9		$ 116.8

Note 20 - Related Party Trans_2

Note 20 - Related Party Transactions (Details Textual)	Oct. 31, 2026USD ($)	Nov. 01, 2021USD ($)	Oct. 31, 2021USD ($)	Nov. 01, 2016USD ($)ft²	Mar. 31, 2019USD ($)
Cash Contribution Committed to Charitable Foundation					$ 500,000
Sublease Agreement [Member] | CVentures, Inc. [Member]
Area of Real Estate Property | ft²				5,437
Operating Leases, Yearly Rental Rate Per Rentable Square Foot				$ 26.50
Sublease Agreement [Member] | CVentures, Inc. [Member] | Forecast [Member]
Operating Leases, Yearly Rental Rate Per Rentable Square Foot	$ 31.67	$ 29.26	$ 28.68

Note 21 - Supplemental Guaran_3

Note 21 - Supplemental Guarantor Information (Details Textual)	3 Months Ended
	Mar. 31, 2019
Maximum Percentage of Consolidated Net Worth of Guarantor for Suspension of Guarantee	5.00%
Maximum Aggregate Percentage of Consolidated Net Worth of All Guarantors for Suspension of Guarantee	10.00%
Maximum Aggregate Percentage of Consolidated Net Worth of All Guarantors for Suspension of Guarantee to Permit Cure of Default	15.00%
All Guarantor Subsidiaries [Member]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

Note 21 - Supplemental Guaran_4

Note 21 - Supplemental Guarantor Information - Supplemental Condensed Combining Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 476,066	$ 470,139	$ 407,580	$ 514,240
Operating lease right-of-use asset	33,500
Deferred tax asset, net	34,500	37,200
Assets	3,034,919	3,001,077
Cash and cash equivalents	476,066	470,139	407,580	514,240
Present value of operating lease liabilities 2	34,583
Total Liabilities	1,424,213	1,425,077
Total Stockholders' Equity	1,610,706	1,576,000	1,432,493	1,407,287
Total Liabilities and Stockholders' Equity	3,034,919	3,001,077
Deferred tax assets, net	34,500	37,200
Homebuilding Segment [Member]
Cash and cash equivalents	416,374	414,724	352,868
Restricted cash	8,136	6,363	6,198
Trade and other receivables	67,960	52,982
Housing completed or under construction	950,274	952,436
Land and land under development	1,198,824	1,180,558
Total inventories	2,149,098	2,132,994
Intercompany receivables
Investment in subsidiaries
Property and equipment, net	59,765	58,167
Operating lease right-of-use asset	32,604
Deferred tax asset, net	34,504	37,178
Prepaid and other assets	42,545	45,794
Assets	2,810,986	2,748,202
Cash and cash equivalents	416,374	414,724	352,868
Marketable securities	45,767	40,879
Other assets	42,545	45,794
Accounts payable	58,570	50,505
Accrued liabilities	185,131	196,247
Present value of operating lease liabilities 2	33,460
Advances and notes payable to parent and subsidiaries
Revolving credit facility	15,000	15,000
Senior notes, net	988,322	987,967
Total Liabilities	1,280,483	1,249,719
Deferred tax assets, net	34,504	37,178
Metropolitan district bond securities (related party)
Other assets	693	995
Financial Services Segment [Member]
Cash and cash equivalents	51,556	49,052	48,514
Intercompany receivables
Prepaid and other assets	15,800
Assets	223,933	252,875
Cash and cash equivalents	51,556	49,052	48,514
Marketable securities	45,767	40,879
Mortgage loans held-for-sale, net	110,810	149,211
Other assets	15,800
Advances and notes payable to parent and subsidiaries
Total Liabilities	143,730	175,358
Accounts payable and other liabilities	58,874	58,543
Mortgage repurchase facility	84,856	116,815
Other assets	15,800	13,733
Reportable Legal Entities [Member] | Parent Company [Member]
Cash and cash equivalents	411,750	410,127	348,609	468,718
Assets	2,726,034	2,674,373
Cash and cash equivalents	411,750	410,127	348,609	468,718
Total Liabilities	1,115,328	1,098,373
Total Stockholders' Equity	1,610,706	1,576,000
Total Liabilities and Stockholders' Equity	2,726,034	2,674,373
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash and cash equivalents	12,760	10,960	10,457	13,051
Assets	2,303,390	2,271,378
Cash and cash equivalents	12,760	10,960	10,457	13,051
Total Liabilities	2,121,924	1,903,140
Total Stockholders' Equity	181,466	368,238
Total Liabilities and Stockholders' Equity	2,303,390	2,271,378
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents	51,556	49,052	48,514	32,471
Assets	245,637	276,231
Cash and cash equivalents	51,556	49,052	48,514	32,471
Total Liabilities	154,683	188,621
Total Stockholders' Equity	90,954	87,610
Total Liabilities and Stockholders' Equity	245,637	276,231
Reportable Legal Entities [Member] | Homebuilding Segment [Member] | Parent Company [Member]
Cash and cash equivalents	411,750	410,127
Restricted cash
Trade and other receivables	589	758
Housing completed or under construction
Land and land under development
Total inventories
Intercompany receivables	1,939,500	1,735,342
Investment in subsidiaries	272,420	455,848
Property and equipment, net	23,608	23,896
Operating lease right-of-use asset	32,604
Deferred tax asset, net	34,513	36,168
Prepaid and other assets	11,050	12,234
Assets	2,726,034	2,674,373
Cash and cash equivalents	411,750	410,127
Other assets	11,050	12,234
Accounts payable	39
Accrued liabilities	50,285	65,691
Present value of operating lease liabilities 2	33,460
Advances and notes payable to parent and subsidiaries	28,222	29,715
Revolving credit facility	15,000	15,000
Senior notes, net	988,322	987,967
Total Liabilities	1,115,328	1,098,373
Deferred tax assets, net	34,513	36,168
Metropolitan district bond securities (related party)
Reportable Legal Entities [Member] | Homebuilding Segment [Member] | Guarantor Subsidiaries [Member]
Cash and cash equivalents	4,624	4,597
Restricted cash	8,136	6,363
Trade and other receivables	67,371	52,224
Housing completed or under construction	950,274	952,436
Land and land under development	1,198,824	1,180,558
Total inventories	2,149,098	2,132,994
Intercompany receivables	6,509	7,369
Investment in subsidiaries
Property and equipment, net	36,157	34,271
Operating lease right-of-use asset
Deferred tax asset, net
Prepaid and other assets	31,495	33,560
Assets	2,303,390	2,271,378
Cash and cash equivalents	4,624	4,597
Other assets	31,495	33,560
Accounts payable	58,531	50,505
Accrued liabilities	132,666	125,387
Present value of operating lease liabilities 2
Advances and notes payable to parent and subsidiaries	1,930,727	1,727,248
Revolving credit facility
Senior notes, net
Total Liabilities	2,121,924	1,903,140
Deferred tax assets, net
Metropolitan district bond securities (related party)
Reportable Legal Entities [Member] | Homebuilding Segment [Member] | Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents
Restricted cash
Trade and other receivables
Housing completed or under construction
Land and land under development
Total inventories
Intercompany receivables
Investment in subsidiaries
Property and equipment, net
Operating lease right-of-use asset
Deferred tax asset, net
Prepaid and other assets
Assets
Cash and cash equivalents
Other assets
Accounts payable
Accrued liabilities
Present value of operating lease liabilities 2
Advances and notes payable to parent and subsidiaries	296	295
Revolving credit facility
Senior notes, net
Total Liabilities	296	295
Deferred tax assets, net
Metropolitan district bond securities (related party)
Reportable Legal Entities [Member] | Financial Services Segment [Member] | Parent Company [Member]
Cash and cash equivalents
Intercompany receivables
Prepaid and other assets
Assets
Cash and cash equivalents
Marketable securities
Mortgage loans held-for-sale, net
Other assets
Advances and notes payable to parent and subsidiaries
Total Liabilities
Accounts payable and other liabilities
Mortgage repurchase facility
Other assets
Reportable Legal Entities [Member] | Financial Services Segment [Member] | Guarantor Subsidiaries [Member]
Cash and cash equivalents
Intercompany receivables
Prepaid and other assets
Assets
Cash and cash equivalents
Marketable securities
Mortgage loans held-for-sale, net
Other assets
Advances and notes payable to parent and subsidiaries
Total Liabilities
Accounts payable and other liabilities
Mortgage repurchase facility
Other assets
Reportable Legal Entities [Member] | Financial Services Segment [Member] | Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents	51,556	49,052
Intercompany receivables	21,713	22,346
Prepaid and other assets	15,791
Assets	245,637	276,231
Cash and cash equivalents	51,556	49,052
Marketable securities	45,767	40,879
Mortgage loans held-for-sale, net	110,810	149,211
Other assets	15,791
Advances and notes payable to parent and subsidiaries	8,477	7,799
Total Liabilities	154,387	188,326
Accounts payable and other liabilities	61,054	63,712
Mortgage repurchase facility	84,856	116,815
Other assets		14,743
Consolidation, Eliminations [Member]
Cash and cash equivalents
Assets	(2,240,142)	(2,220,905)
Cash and cash equivalents
Total Liabilities	(1,967,722)	(1,765,057)
Total Stockholders' Equity	(272,420)	(455,848)
Total Liabilities and Stockholders' Equity	(2,240,142)	(2,220,905)
Consolidation, Eliminations [Member] | Homebuilding Segment [Member]
Cash and cash equivalents
Restricted cash
Trade and other receivables
Housing completed or under construction
Land and land under development
Total inventories
Intercompany receivables	(1,946,009)	(1,742,711)
Investment in subsidiaries	(272,420)	(455,848)
Property and equipment, net
Operating lease right-of-use asset
Deferred tax asset, net	(9)	1,010
Prepaid and other assets
Assets	(2,218,438)	(2,197,549)
Cash and cash equivalents
Other assets
Accounts payable
Accrued liabilities	2,180	5,169
Present value of operating lease liabilities 2
Advances and notes payable to parent and subsidiaries	(1,959,245)	(1,757,258)
Revolving credit facility
Senior notes, net
Total Liabilities	(1,957,065)	(1,752,089)
Deferred tax assets, net	(9)	1,010
Metropolitan district bond securities (related party)
Consolidation, Eliminations [Member] | Financial Services Segment [Member]
Cash and cash equivalents
Intercompany receivables	(21,713)	(22,346)
Prepaid and other assets	9
Assets	(21,704)	(23,356)
Cash and cash equivalents
Marketable securities
Mortgage loans held-for-sale, net
Other assets	9
Advances and notes payable to parent and subsidiaries	(8,477)	(7,799)
Total Liabilities	(10,657)	(12,968)
Accounts payable and other liabilities	(2,180)	(5,169)
Mortgage repurchase facility
Other assets		$ (1,010)

Note 21 - Supplemental Guaran_5

Note 21 - Supplemental Guarantor Information - Supplemental Condensed Combining Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Inventory impairments	$ (610)	$ (550)
Pretax income (loss)	55,606	50,532
(Provision) benefit for income taxes	(15,056)	(11,768)
Net income	40,550	38,764
Other comprehensive income related to available-for-sale securities, net of tax
Comprehensive income	40,550	38,764
Homebuilding Segment [Member]
Revenues	647,278	607,688
Cost of sales	(524,552)	(496,632)
Inventory impairments	(610)	(550)
Gross margin	122,116	110,506
Selling, general, and administrative expenses	(82,261)	(71,341)
Equity income of subsidiaries
Interest and other income	2,391	1,859
Other expense	(1,191)	(563)
Pretax income (loss)	41,055	40,461
Financial Services Segment [Member]
Revenues	17,404	19,035
Pretax income (loss)	14,551	10,071
Reportable Legal Entities [Member] | Parent Company [Member]
Pretax income (loss)	37,143	36,141
(Provision) benefit for income taxes	3,407	2,623
Net income	40,550	38,764
Other comprehensive income related to available-for-sale securities, net of tax
Comprehensive income	40,550	38,764
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Pretax income (loss)	56,372	51,925
(Provision) benefit for income taxes	(15,264)	(12,092)
Net income	41,108	39,833
Other comprehensive income related to available-for-sale securities, net of tax
Comprehensive income	41,108	39,833
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Pretax income (loss)	14,256	9,635
(Provision) benefit for income taxes	(3,199)	(2,299)
Net income	11,057	7,336
Other comprehensive income related to available-for-sale securities, net of tax
Comprehensive income	11,057	7,336
Reportable Legal Entities [Member] | Homebuilding Segment [Member] | Parent Company [Member]
Revenues
Cost of sales
Inventory impairments
Gross margin
Selling, general, and administrative expenses	(17,438)	(12,808)
Equity income of subsidiaries	52,165	47,169
Interest and other income	2,409	1,773
Other expense	7	7
Pretax income (loss)	37,143	36,141
Reportable Legal Entities [Member] | Homebuilding Segment [Member] | Guarantor Subsidiaries [Member]
Revenues	647,278	607,688
Cost of sales	(524,552)	(496,632)
Inventory impairments	(610)	(550)
Gross margin	122,116	110,506
Selling, general, and administrative expenses	(64,701)	(58,329)
Equity income of subsidiaries
Interest and other income	155	318
Other expense	(1,198)	(570)
Pretax income (loss)	56,372	51,925
Reportable Legal Entities [Member] | Homebuilding Segment [Member] | Non-Guarantor Subsidiaries [Member]
Revenues
Cost of sales
Inventory impairments
Gross margin
Selling, general, and administrative expenses
Equity income of subsidiaries
Interest and other income		2
Other expense
Pretax income (loss)		2
Reportable Legal Entities [Member] | Financial Services Segment [Member] | Parent Company [Member]
Pretax income (loss)
Reportable Legal Entities [Member] | Financial Services Segment [Member] | Guarantor Subsidiaries [Member]
Pretax income (loss)
Reportable Legal Entities [Member] | Financial Services Segment [Member] | Non-Guarantor Subsidiaries [Member]
Pretax income (loss)	14,256	9,633
Consolidation, Eliminations [Member]
Pretax income (loss)	(52,165)	(47,169)
(Provision) benefit for income taxes
Net income	(52,165)	(47,169)
Other comprehensive income related to available-for-sale securities, net of tax
Comprehensive income	(52,165)	(47,169)
Consolidation, Eliminations [Member] | Homebuilding Segment [Member]
Revenues
Cost of sales
Inventory impairments
Gross margin
Selling, general, and administrative expenses	(122)	(204)
Equity income of subsidiaries	(52,165)	(47,169)
Interest and other income	(173)	(234)
Other expense
Pretax income (loss)	(52,460)	(47,607)
Consolidation, Eliminations [Member] | Financial Services Segment [Member]
Pretax income (loss)	$ 295	$ 438

Note 21 - Supplemental Guaran_6

Note 21 - Supplemental Guarantor Information - Supplemental Condensed Combining Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net cash provided by (used in) operating activities	$ 54,348	$ (61,486)
Net cash provided by (used in) investing activities	(6,434)	(6,377)
Payments from (advances to) subsidiaries
Mortgage repurchase facility	(31,959)	(22,214)
Dividend payments	(17,115)	(16,865)
Proceeds from exercise of stock options	7,087	282
Net cash provided by (used in) financing activities	(41,987)	(38,797)
Net increase (decrease) in cash and cash equivalents	5,927	(106,660)
Beginning of period	470,139	514,240
Cash and cash equivalents	476,066	407,580
Reportable Legal Entities [Member] | Parent Company [Member]
Net cash provided by (used in) operating activities	(18,145)	(8,950)
Net cash provided by (used in) investing activities	29,796	(94,576)
Payments from (advances to) subsidiaries
Mortgage repurchase facility
Dividend payments	(17,115)	(16,865)
Proceeds from exercise of stock options	7,087	282
Net cash provided by (used in) financing activities	(10,028)	(16,583)
Net increase (decrease) in cash and cash equivalents	1,623	(120,109)
Beginning of period	410,127	468,718
Cash and cash equivalents	411,750	348,609
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	31,508	(79,547)
Net cash provided by (used in) investing activities	(6,094)	(6,250)
Payments from (advances to) subsidiaries	(23,614)	83,203
Mortgage repurchase facility
Dividend payments
Proceeds from exercise of stock options
Net cash provided by (used in) financing activities	(23,614)	83,203
Net increase (decrease) in cash and cash equivalents	1,800	(2,594)
Beginning of period	10,960	13,051
Cash and cash equivalents	12,760	10,457
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	40,985	27,011
Net cash provided by (used in) investing activities	(93)	(60)
Payments from (advances to) subsidiaries	(6,429)	11,306
Mortgage repurchase facility	(31,959)	(22,214)
Dividend payments
Proceeds from exercise of stock options
Net cash provided by (used in) financing activities	(38,388)	(10,908)
Net increase (decrease) in cash and cash equivalents	2,504	16,043
Beginning of period	49,052	32,471
Cash and cash equivalents	51,556	48,514
Consolidation, Eliminations [Member]
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities	(30,043)	94,509
Payments from (advances to) subsidiaries	30,043	(94,509)
Mortgage repurchase facility
Dividend payments
Proceeds from exercise of stock options
Net cash provided by (used in) financing activities	30,043	(94,509)
Net increase (decrease) in cash and cash equivalents
Beginning of period
Cash and cash equivalents