M.D.C. (MDC) 10-K 30 Jan 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Document Information [Line Items]
Entity Central Index Key	0000773141
Entity Registrant Name	MDC HOLDINGS INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-08951
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-0622967
Entity Address, Address Line One	4350 South Monaco Street, Suite 500
Entity Address, Postal Zip Code	80237
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
City Area Code	303
Local Phone Number	773-1100
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float		$ 1,600,000,000
Entity Common Stock, Shares Outstanding	62,574,961
Senior Notes 6.00% Due 2043 [Member]
Document Information [Line Items]
Title of 12(b) Security	6.000% Senior Notes due January 2043
Trading Symbol	552676AQ1
Security Exchange Name	NYSE
Senior Notes 5.625 Due 2020 [Member]
Document Information [Line Items]
Title of 12(b) Security	5.625% Senior Notes due February 2020
Trading Symbol	552676AP3
Security Exchange Name	NYSE
Common Stock 1 [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	552676108
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 474,212	$ 470,139
Property and equipment, net	60,414	58,167
Total Assets	3,338,356	3,001,077
Mortgage loans held-for-sale, net	58,500	17,800
LIABILITIES AND EQUITY
Total Liabilities	1,555,871	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; 62,574,961 and 56,615,352 issued and outstanding at December 31, 2019 and December 31, 2018, respectively	626	566
Additional paid-in-capital	1,348,733	1,168,442
Retained earnings	433,126	406,992
Total Stockholders' Equity	1,782,485	1,576,000
Total Liabilities and Stockholders' Equity	3,338,356	3,001,077
Homebuilding Segment [Member]
ASSETS
Cash and cash equivalents	424,186	414,724
Restricted cash	14,279	6,363
Trade and other receivables	65,829	52,982
Housing completed or under construction	1,036,191	952,436
Land and land under development	1,330,384	1,180,558
Total inventories	2,366,575	2,132,994
Property and equipment, net	60,414	58,167
Deferred tax assets, net	21,768	37,178
Prepaid and other assets	78,358	45,794
Total Assets	3,031,409	2,748,202
Marketable securities	0	0
Other assets	1,288	995
LIABILITIES AND EQUITY
Accounts payable	87,364	50,505
Accrued and other liabilities	245,940	196,247
Revolving credit facility	15,000	15,000
Senior notes, net	989,422	987,967
Total Liabilities	1,337,726	1,249,719
Financial Services Segment [Member]
ASSETS
Cash and cash equivalents	35,747	49,052
Total Assets	306,947	252,875
Marketable securities	56,747	40,879
Mortgage loans held-for-sale, net	197,021	149,211
Other assets	17,432	13,733
LIABILITIES AND EQUITY
Total Liabilities	218,145	175,358
Accounts payable and accrued liabilities	68,529	58,543
Mortgage repurchase facility	$ 149,616	$ 116,815

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 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)	62,574,961	56,615,352
Common stock, shares outstanding (in shares)	62,574,961	56,615,352

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues	$ 3,293,253	$ 3,065,216	$ 2,577,614
Inventory impairments	(935)	(21,850)	(10,010)
Pretax income	304,989	263,854	229,732
Provision for income taxes	(66,677)	(53,074)	(87,897)
Net income	238,312	210,780	141,835
Other comprehensive loss related to available-for-sale securities, net of tax	0	0	(18,079)
Comprehensive income	$ 238,312	$ 210,780	$ 123,756
Earnings per share:
Basic (in dollars per share)	$ 3.84	$ 3.46	$ 2.35
Diluted (in dollars per share)	$ 3.72	$ 3.39	$ 2.30
Weighted average common shares outstanding
Basic (in shares)	61,616,988	60,571,123	60,117,021
Diluted (in shares)	63,702,666	61,830,761	61,453,578
Homebuilding Segment [Member]
Revenues	$ 3,205,248	$ 2,981,811	$ 2,503,242
Cost of sales	(2,601,131)	(2,436,989)	(2,088,283)
Inventory impairments	(935)	(21,850)	(10,010)
Gross margin	604,117	544,822	414,959
Selling, general and administrative expenses	(362,790)	(329,801)	(287,488)
Interest and other income	9,070	7,718	61,336
Other expense	(5,635)	(5,245)	(2,868)
Pretax income	244,762	217,494	185,939
Other comprehensive loss related to available-for-sale securities, net of tax	0	0	(18,079)
Homebuilding Segment [Member] | Home Building [Member]
Revenues	3,205,248	2,981,811	2,498,695
Cost of sales	(2,600,196)	(2,415,139)	(2,073,833)
Homebuilding Segment [Member] | Land [Member]
Revenues	0	0	4,547
Cost of sales	0	0	(4,440)
Financial Services Segment [Member]
Revenues	88,005	83,405	74,372
Interest and other income	17,223	1,155	3,955
Pretax income	60,227	46,360	43,793
Expenses	(45,001)	(38,200)	(34,534)
Other income (expense), net	$ 17,223	$ 1,155	$ 3,955

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - 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, 2016	51,485,090
Balance at Dec. 31, 2016	$ 515	$ 983,532	$ 313,952	$ 22,071	$ 1,320,070
Net Income	0	0	141,835	0	141,835
Other comprehensive loss, net of tax	$ 0	0	0	(18,079)	(18,079)
Total comprehensive income					123,756
Shares issued under stock-based compensation programs, net (in shares)	492,408
Shares issued under stock-based compensation programs, net	$ 5	9,496	0	0	9,501
Cash dividends declared	$ 0	0	(51,779)	0	(51,779)
Stock dividend declared (in shares)	4,151,722
Stock dividend declared	$ 41	145,685	(145,844)	0	(118)
Stock-based compensation expense	$ 0	5,857	0	0	5,857
Forfeiture of restricted stock (in shares)	(5,992)
Forfeiture of restricted stock	$ 0	0	0	0	0
Balance (in shares) at Dec. 31, 2017	56,123,228
Balance at Dec. 31, 2017	$ 561	1,144,570	258,164	3,992	1,407,287
Net Income	$ 0	0	210,780	0	210,780
Shares issued under stock-based compensation programs, net (in shares)	497,024
Shares issued under stock-based compensation programs, net	$ 5	9,855	0	0	9,860
Cash dividends declared	0	0	(67,718)	0	(67,718)
Stock-based compensation expense	$ 0	14,017	0	0	14,017
Forfeiture of restricted stock (in shares)	(4,900)
Forfeiture of restricted stock	$ 0	0	0	0	0
Cumulative effect of newly adopted accounting standards at Dec. 31, 2017	0	0	5,766	(3,992)	1,774
Adjusted Balance at Dec. 31, 2017	$ 561	1,144,570	263,930	0	1,409,061
Balance (in shares) at Dec. 31, 2018	56,615,352
Balance at Dec. 31, 2018	$ 566	1,168,442	406,992	0	1,576,000
Net Income	$ 0	0	238,312	0	238,312
Shares issued under stock-based compensation programs, net (in shares)	1,429,993
Shares issued under stock-based compensation programs, net	$ 15	15,326	0	0	15,341
Cash dividends declared	$ 0	0	(73,020)	0	(73,020)
Stock dividend declared (in shares)	4,534,908
Stock dividend declared	$ 45	138,949	(139,091)	0	(97)
Stock-based compensation expense	$ 0	26,016	0	0	26,016
Forfeiture of restricted stock (in shares)	(5,292)
Forfeiture of restricted stock	$ 0	0	0	0	0
Cumulative effect of newly adopted accounting standards at Dec. 31, 2018	0	0	(67)	0	(67)
Adjusted Balance at Dec. 31, 2018	$ 566	1,168,442	406,925	0	1,575,933
Balance (in shares) at Dec. 31, 2019	62,574,961
Balance at Dec. 31, 2019	$ 626	$ 1,348,733	$ 433,126	$ 0	$ 1,782,485

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities:
Net income	$ 238,312	$ 210,780	$ 141,835
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	26,016	14,017	5,857
Depreciation and amortization	23,054	21,326	5,321
Inventory impairments	935	21,850	10,010
Other-than-temporary impairment of marketable securities	0	0	286
Net gain on sale of available-for-sale marketable securities	0	0	(18,122)
Net (gain) loss on marketable equity securities	(11,797)	3,745	0
Gain on sale of metropolitan district bond securities (related party)	0	0	(35,847)
Amortization of discount / premiums on marketable debt securities	0	(366)	0
Deferred income tax expense	13,670	3,729	44,787
Net changes in assets and liabilities:
Trade and other receivables	(12,997)	(4,638)	(13,763)
Mortgage loans held-for-sale	(47,810)	(11,097)	660
Prepaid expenses and other assets	(4,694)	(245)	(13,121)
Accounts payable and accrued liabilities	66,205	49,325	22,320
Net cash provided by (used in) operating activities	57,833	(7,906)	70,506
Investing Activities:
Purchases of marketable securities	(11,708)	(18,850)	(67,239)
Maturities of marketable securities	0	50,000	0
Sales of marketable securities	7,637	16,230	83,315
Proceeds from sale of metropolitan district bond securities (related party)	0	0	44,253
Purchases of property and equipment	(24,714)	(27,166)	(2,539)
Net cash provided by (used in) investing activities	(28,785)	20,214	57,790
Financing Activities:
Advances (payments) on mortgage repurchase facility, net	32,801	4,475	(2,145)
Proceeds from issuance of senior notes	0	0	146,463
Dividend payments	(73,117)	(67,718)	(51,897)
Payments of deferred financing costs	0	(3,026)	(2,665)
Issuance of shares under stock-based compensation programs, net	15,341	9,860	9,501
Net cash provided by (used in) financing activities	(24,975)	(56,409)	99,257
Net increase (decrease) in cash, cash equivalents and restricted cash	4,073	(44,101)	227,553
Cash, cash equivalents and restricted cash:
Beginning of year	470,139	514,240	286,687
End of year	474,212	470,139	514,240
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	474,212	470,139	514,240
End of year	474,212	470,139	514,240
Homebuilding Segment [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Inventory impairments	935	21,850	10,010
Net gain on sale of available-for-sale marketable securities	0	0	(17,775)
Gain on sale of metropolitan district bond securities (related party)	0	0	(35,847)
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	424,186	414,724	472,957
Restricted cash	14,279	6,363	8,812
Financial Services Segment [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net gain on sale of available-for-sale marketable securities	(11,797)	3,745	0
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	35,747	49,052	32,471
Housing Completed or Under Construction [Member]
Net changes in assets and liabilities:
Housing completed or under construction and land under development	(83,484)	(12,082)	(69,548)
Land and Land Under Development [Member]
Net changes in assets and liabilities:
Housing completed or under construction and land under development	$ (149,577)	$ (304,250)	$ (10,169)

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Su Principles of Consolidation Description of Business Our financial services operations consist of HomeAmerican Mortgage Corporation (“HomeAmerican”), which originates mortgage loans, primarily for our homebuyers, American Home Insurance Agency, Inc. (“American Home Insurance”), which offers third Presentation Use of Accounting Estimates Cash and Cash Equivalents three Equity securities January 1, 2018, 2016 01 2 Debt securities Restricted Cash may December 31, 2019 2018, Trade and Other Receivables December 31, 2019 2018, Mortgage Loans Held-for-Sale, net third Inventories 1 2 3 4 5 6 1 2 3 4 5 In accordance with Accounting Standards Codification (“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 7, Fair Value Measurements, 3 If land is classified as held for sale, in accordance with ASC 360, 2 7, Fair Value Measurements not not Costs Related to Sales Facilities. 340 40, Other Assets and Deferred Costs – Contracts with Customers January 1, 2018, 2 not Property and Equipment, net December 31, 2019, 2018 2017, The following table sets forth the cost and carrying value of our homebuilding property and equipment by major asset category. Accumulated Depreciation and Carrying Cost Amortization Value December 31, 2019: (Dollars in thousands) Sales facilities $ 60,964 $ (25,802 ) $ 35,162 Airplane 31,230 (10,145 ) 21,085 Computer software and equipment 22,660 (20,730 ) 1,930 Leasehold improvements 7,339 (5,817 ) 1,522 Other 2,056 (1,341 ) 715 Total $ 124,249 $ (63,835 ) $ 60,414 December 31, 2018: Sales facilities $ 59,374 $ (26,920 ) $ 32,454 Airplane 31,013 (9,488 ) 21,525 Computer software and equipment 21,507 (19,374 ) 2,133 Leasehold improvements 6,827 (5,188 ) 1,639 Other 1,577 (1,161 ) 416 Total $ 120,298 $ (62,131 ) $ 58,167 Deferred Tax Asset s , net 1 2 not 50% not Variable Interest Entities 810, Consolidation 810” not 810 not December 31, 2019 2018, not Goodwill. 350, Intangibles–Goodwill and Other (“ASC 350” may not three first no If a qualitative assessment indicates it is more likely than not second third third Based on our analysis, we have concluded that as of December 31, 2019 2018, no Liability for Unrecognized Tax Benefits. 740, Income Taxes The evaluation of a tax position is a two first not not not not The second not 50 Warranty Accrual third third first two three ten not Warranty payments are recorded against the warranty accrual. Additional reserves may not may We assess the reasonableness and adequacy of the reserve and the per-unit reserve amount originally included in home cost of sales, as well as the timing of the reversal of any excess reserve on a quarterly basis, using historical payment data and other relevant information. Our warranty accrual is included in accrued and other 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. Insurance Reserves. 14 Reserves for Construction Defect Claims. 1 2 not 14 Litigation Reserves. 18 Derivative Financial Instruments not At December 31, 2019 2018, December 31, 2019 2018, not not December 31, 2019 2018, For the years ended December 31, 2019, 2018 2017, Revenue Recognition for Homebuilding Segments. We generally do not 1 not 2 not third In certain states where we build, we are not not Revenue expected to be recognized in any future year related to remaining performance obligations (if any) and contract liabilities expected to be recognized as revenue, excluding revenue pertaining to contracts that have an original expected duration of one not Revenue Recognition for HomeAmerican 1 2 third third 1 third 2 third 3 not We measure mortgage loans held-for-sale at fair value with the changes in fair value being reported in earnings at each reporting date. The impact of recording changes in fair value to earnings did not December 31, 2019, 2018 2017. December 31, 2019, 2018 2017, Home Cost of Sales When a home is closed, we may not 1 not 2 Stock-Based Compensation Expense 718, Compensation—Stock Compensation 718” ● Awards with service-based vesting conditions only – Expense is recognized on a straight-line basis over the requisite service period of the award. ● Awards with performance-based vesting conditions – Expense is not ● Awards with market-based vesting conditions (“Market-Based”) – Expense is recognized on a straight-line basis over the requisite service period, which is the lesser of the derived service period or the explicit service period, if one An annual forfeiture rate is estimated at the time of grant for all share-based payment awards that contain service and/or performance conditions. That rate is revised, if necessary, in subsequent periods if the actual forfeiture rate differs from our estimate. Earnings (Loss) Per Common Share. two two two 260.

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Standards	12 Months Ended
	Dec. 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 ASU 2016 02, Leases 2016 02” 842, Leases 842” 842 840 842 January 1, 2019, 842 not 842. The adoption of ASC 842 January 1, 2019. not ASU 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 2018 02” 2018 02 December 2017 2018 02 January 1, 2018, January 1, 2018, 2018 02 not ASU 2016 18, Statement of Cash Flows (Topic 230 consensus of the FASB Emerging Issues Task Force 2016 18” 2016 18 830, Statement of Cash Flows may January 1, 2018, 2016 18 not ASU 2016 15, Statement of Cash Flows (Topic 230 2016 15” 2016 15 830, Statement of Cash Flows January 1, 2018, 2016 15 no 2016 15 not ASU 2016 01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01” January 1, 2018, 2016 01 2016 01 not December 31, 2018 ASU 2014 09, Revenue from Contracts with Customers 2014 09” May 2014, 2014 09 606, Revenue from Contracts with Customers 606” 2014 09 340, Other Assets and Deferred Costs , 340 40, Other Assets and Deferred Costs – Contracts with Customers 340 40” January 1, 2018, 606 340 40 not January 1, 2018. 606 340 40 not 606 340 40, not The cumulative effect of the changes made to our consolidated January 1, 2018 2018 02, 2016 01 2014 09 Balance at December 31, 2017 Adjustments due to Adjustments due to Adjustments due to Balance at January 1, 2018 Balance Sheet (Dollars in thousands) Assets: Homebuilding: Housing completed or under construction $ 936,685 $ - $ - $ 7,406 $ 944,091 Property and equipment, net 26,439 - - 25,270 51,709 Prepaid and other assets 75,666 - - (34,227 ) 41,439 Deferred tax asset, net 41,480 - - (573 ) 40,907 Financial Services: Other assets 9,617 - - 3,898 13,515 Stockholders' Equity: Retained earnings 258,164 (860 ) 4,852 1,774 263,930 Accumulated other comprehensive income 3,992 860 (4,852 ) - - 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, 2016 13 may not

Note 3 - Supplemental Income St

Note 3 - Supplemental Income Statement and Cash Flow Disclosure	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	3 . Supplemental Income Statement and Cash Flow Disclosure The table below details homebuilding interest and other income and financial services other income (expense), net: Year Ended December 31, 2019 2018 2017 Homebuilding Interest and other income Interest income $ 7,797 $ 6,376 $ 3,896 Dividend income - - 1,160 Net realized gains from the sales of marketable securities - - 17,775 Realized gain from the sale of metropolitan district bond securities (related party) - - 35,847 Other income 1,273 1,342 2,658 Total $ 9,070 $ 7,718 $ 61,336 Financial Services Other income (expense), net Interest income $ 4,404 $ 4,031 $ 2,924 Dividend income 1,022 869 1,031 Gain (loss) on marketable equity securities, net 11,797 (3,745 ) - Total $ 17,223 $ 1,155 $ 3,955 The table below sets forth supplemental disclosures of cash flow information and non-cash investing and financing activities. Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Cash paid for: Interest, net of interest capitalized $ 685 $ 726 $ 637 Income taxes $ 56,476 $ 30,157 $ 49,830

Note 4 - Segment Reporting

Note 4 - Segment Reporting	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	4. 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 following operating segments: ( 1 2 3 4 5 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 tables present revenue and pretax income relating to our homebuilding and financial services operations: Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Homebuilding West $ 1,771,060 $ 1,567,141 $ 1,316,069 Mountain 1,131,568 1,080,475 805,669 East 302,620 334,195 381,504 Total homebuilding revenues $ 3,205,248 $ 2,981,811 $ 2,503,242 Financial Services Mortgage operations $ 55,222 $ 53,476 $ 48,841 Other 32,783 29,929 25,531 Total financial services revenues $ 88,005 $ 83,405 $ 74,372 Total revenues $ 3,293,253 $ 3,065,216 $ 2,577,614 Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Homebuilding West $ 163,069 $ 128,829 $ 79,719 Mountain 136,313 134,710 86,428 East 9,857 12,611 14,418 Corporate 1 (64,477 ) (58,656 ) 5,374 Total homebuilding pretax income $ 244,762 $ 217,494 $ 185,939 Financial Services Mortgage operations $ 29,312 $ 31,920 $ 28,628 Other 30,915 14,440 15,165 Total financial services pretax income $ 60,227 $ 46,360 $ 43,793 Total pretax income $ 304,989 $ 263,854 $ 229,732 1 The pretax gain for the year ended December 31, 2017 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 cash and cash equivalents, marketable securities, and our deferred tax assets. The assets in our financial services operations consist mostly of cash and cash equivalents, marketable securities and mortgage loans held-for-sale. December 31, 2019 2018 (Dollars in thousands) Homebuilding Assets West $ 1,461,645 $ 1,301,374 Mountain 869,665 793,150 East 194,592 169,485 Corporate 505,507 484,193 Total homebuilding assets $ 3,031,409 $ 2,748,202 Financial Services Mortgage operations $ 209,946 $ 159,677 Other 97,001 93,198 Total financial services assets $ 306,947 $ 252,875 Total assets $ 3,338,356 $ 3,001,077

Note 5 - Earnings Per Share

Note 5 - Earnings Per Share	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	5 . Earnings Per Shar e On January 28, 2019, February 28, 2019 February 14, 2019. November 20, 2017, December 19, 2017 December 5, 2017. 260, Year Ended December 31, 2019 2018 2017 (Dollars in thousands, except per share amounts) Numerator Net income $ 238,312 $ 210,780 $ 141,835 Less: distributed earnings allocated to participating securities (466 ) (413 ) (257 ) Less: undistributed earnings allocated to participating securities (1,020 ) (846 ) (441 ) Net income attributable to common stockholders (numerator for basic earnings per share) 236,826 209,521 141,137 Add back: undistributed earnings allocated to participating securities 1,020 846 441 Less: undistributed earnings reallocated to participating securities (992 ) (833 ) (431 ) Numerator for diluted earnings per share under two class method $ 236,854 $ 209,534 $ 141,147 Denominator Weighted-average common shares outstanding 61,616,988 60,571,123 60,117,021 Add: dilutive effect of stock options 1,737,945 984,076 1,336,557 Add: dilutive effect of performance share units 347,733 275,562 - Denominator for diluted earnings per share under two class method 63,702,666 61,830,761 61,453,578 Basic Earnings Per Common Share $ 3.84 $ 3.46 $ 2.35 Diluted Earnings Per Common Share $ 3.72 $ 3.39 $ 2.30 Diluted EPS for the years ended December 31, 2019, 2018 2017

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	6 . Accumulated Other Comprehensive Income The following table sets forth our changes in accumulated other comprehensive income: Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Unrealized gains (losses) on available-for-sale marketable securities (1) Beginning balance $ - $ 3,992 $ 7,730 Adoption of accounting standards (Note 2) - (3,992 ) - Other comprehensive income (loss) before reclassifications - - 7,320 Amounts reclassified from AOCI (2) - - (11,058 ) Ending balance $ - $ - $ 3,992 Unrealized gains on available-for-sale metropolitan district bond securities (1) Beginning balance $ - $ - $ 14,341 Other comprehensive income before reclassifications - - 7,884 Amounts reclassified from AOCI - - (22,225 ) Ending balance $ - $ - $ - Total ending AOCI $ - $ - $ 3,992 ( 1 All amounts net-of-tax. ( 2 See separate table below for details about these reclassifications. During the first 2018, 2 The Metropolitan District Limited Tax General Obligation Capital Appreciation Bonds Series 2007 2017 third December 31, 2017. The following table sets forth the activity related to reclassifications out of accumulated other comprehensive income (loss) related to available for sale securities: Year Ended December 31, Affected Line Item in the Statements of Operations 2019 2018 2017 (Dollars in thousands) Homebuilding: Net realized gains (losses) from the sales of marketable securities $ - $ - $ 17,775 Homebuilding: Realized gain from the sale of metropolitan district bond securities (related party) - - 35,847 Homebuilding: Other-than-temporary impairment of marketable securities - - (51 ) Financial services: Interest and other income - - 347 Financial services: Other-than-temporary impairment of marketable securities - - (235 ) Income before income taxes - - 53,683 Provision for income taxes - - (20,400 ) Net income $ - $ - $ 33,283

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	7 . 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 December 31, 2019 December 31, 2018 (Dollars in thousands) Cash and cash equivalents Debt securities (available-for-sale) Level 1 $ - $ 34,866 Marketable securities Equity securities Level 1 $ 56,747 $ 40,879 Mortgage loans held-for-sale, net Level 2 $ 197,021 $ 149,211 The following methods and assumptions were used to estimate the fair value of each class of financial instruments as of December 31, 2019 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 and other liabilities and borrowings on our revolving credit facility. Equity securities January 1, 2018, 2016 01 Debt securities Each quarter we assess all of our securities in an unrealized loss position (excluding marketable equity securities subsequent to the adoption of ASU 2016 01 2 December 31, 2017, No December 31, 2019 2018. The following tables set forth the amortized cost and estimated fair value of our available-for-sale debt securities. December 31, 2018 Amortized 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 year ended December 31, 2019 2018 Year Ended December 31, 2019 2018 (Dollars in thousands) Net gain (loss) recognized during the period on equity securities $ 11,797 $ (3,745 ) Less: Net gain (loss) recognized during the period on equity securities sold during the period 647 (534 ) Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ 11,150 $ (3,211 ) Mortgage Loans Held-for-Sale, Net. 1 2 not December 31, 2019 2018, 2 December 31, 2019 2018, not 2 December 31, 2019 2018 Mortgage Repurchase Facility. 17 2 Senior Notes 2 December 31, 2019 December 31, 2018 Carrying Fair Value Carrying Fair Value (Dollars in thousands) $250 Million 5.625% senior notes due February 2020, net $ 249,909 $ 250,400 $ 248,850 $ 253,413 $250 Million 5.500% senior notes due January 2024, net 249,005 272,083 248,789 242,983 $500 Million 6.000% senior notes due January 2043, net 490,508 528,542 490,328 386,552 Total $ 989,422 $ 1,051,025 $ 987,967 $ 882,948

Note 8 - Inventories

Note 8 - Inventories	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	8 . Inventories The table below sets forth, by reportable segment, information relating to our homebuilding inventories. December 31, December 31, 2019 2018 (Dollars in thousands) Housing Completed or Under Construction: West $ 589,040 $ 521,960 Mountain 358,370 347,738 East 88,781 82,738 Subtotal 1,036,191 952,436 Land and Land Under Development: West 772,189 705,591 Mountain 468,718 402,657 East 89,477 72,310 Subtotal 1,330,384 1,180,558 Total Inventories $ 2,366,575 $ 2,132,994 Inventory impairments recognized by segment for the years ended December 31, 2019, 2018 2017 Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Housing Completed or Under Construction: West $ 100 $ 2,860 $ 4,733 Mountain - 417 390 East 435 1,227 2,720 Subtotal 535 4,504 7,843 Land and Land Under Development: West - 16,198 1,252 Mountain 400 958 380 East - 190 535 Subtotal 400 17,346 2,167 Total Inventory Impairments $ 935 $ 21,850 $ 10,010 During the year ended December 31, 2019, During the year ended December 31, 2018, 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 Number of Discount Rate (Dollars in thousands) March 31, 2019 16 $ 610 $ 10,476 2 N/A June 30, 2019 12 - - 0 N/A September 30, 2019 16 - - 0 N/A December 31, 2019 14 325 3,948 2 N/A Total $ 935 March 31, 2018 24 $ 550 $ 5,223 2 12% June 30, 2018 17 200 767 1 12% September 30, 2018 17 11,098 29,874 2 12% - 18% December 31, 2018 20 10,002 32,248 10 12% - 18% Total $ 21,850 March 31, 2017 33 $ 4,850 $ 19,952 2 12% - 18% June 30, 2017 35 - - 0 N/A September 30, 2017 33 4,540 52,190 9 10% - 15% December 31, 2017 23 620 14,245 2 10% - 12% Total $ 10,010

Note 9 - Capitalization of Inte

Note 9 - Capitalization of Interest	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Capitalization Disclosure [Text Block]	9 . Capitalization of Interest We capitalize interest to inventories during the period of development in accordance with ASC Topic 835, Interest 835” 835, Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Homebuilding interest incurred $ 63,635 $ 62,631 $ 55,170 Less: Interest capitalized (63,635 ) (62,631 ) (55,170 ) Homebuilding interest expensed $ - $ - $ - Interest capitalized, beginning of period $ 54,845 $ 57,541 $ 68,085 Plus: Interest capitalized during period 63,635 62,631 55,170 Less: Previously capitalized interest included in home and land cost of sales (63,170 ) (65,327 ) (65,714 ) Interest capitalized, end of period $ 55,310 $ 54,845 $ 57,541

Note 10 - Homebuilding Prepaid

Note 10 - Homebuilding Prepaid and Other Assets	12 Months Ended
	Dec. 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. December 31, 2019 2018 (Dollars in thousands) Operating lease right-of-use asset (Note 2 and Note 11) $ 30,277 $ - Land option deposits 27,361 23,805 Prepaid expenses 7,294 7,324 Goodwill 6,008 6,008 Deferred debt issuance costs on revolving credit facility, net 6,130 7,662 Other 1,288 995 Total $ 78,358 $ 45,794

Note 11 - Leases

Note 11 - Leases	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	11 . 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: Year Ended December 31, 2019 (Dollars in thousands) Operating lease cost 1 $ 7,690 Sublease income (Note 16) (150 ) Net lease cost $ 7,540 1 Rent expense under cancellable and non-cancellable operating leases totaled $7.4 million and $7.1 million in 2018 2017, Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2019 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,255 Leased assets obtained in exchange for new operating lease liabilities $ 3,255 Supplemental cash flow information related to non-cash transactions also includes the recognition of operating lease right-of-use assets of $33.5 million and operating lease liabilities of $34.3 million upon adoption of ASC 842. Weighted-average remaining lease term and discount rate for operating leases were as follows: December 31, 2019 Weighted-average remaining lease term (years) 6.1 Weighted-average discount rate 5.5 % Maturities of operating lease liabilities were as follows: Year Ended December 31, 2020 $ 6,300 2021 6,705 2022 6,314 2023 5,294 2024 4,873 Thereafter 8,289 Total operating lease payments 1 $ 37,775 Less: Interest 5,605 Present value of operating lease liabilities 2 $ 32,170 ____________________________ 1 not 2 December 31, 2019.

Note 12 - Homebuilding Accrued

Note 12 - Homebuilding Accrued and Other Liabilities and Financial Services Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	12. Homebuilding Accrued and Other Liabilities and Financial Services Accounts Payable and Accrued Liabilities The following table sets forth information relating to homebuilding accrued and other liabilities. December 31, 2019 2018 (Dollars in thousands) Accrued compensation and related expenses $ 45,003 $ 39,459 Customer and escrow deposits 39,001 34,463 Warranty accrual 31,386 28,262 Lease liability (Note 2 and Note 11) 30,830 - Accrued interest 27,734 27,734 Construction defect claim reserves 8,196 8,464 Land development and home construction accruals 9,750 8,683 Other accrued liabilities 54,040 49,182 Total accrued and other liabilities $ 245,940 $ 196,247 The following table sets forth information relating to financial services accounts payable and accrued liabilities. December 31, 2019 2018 (Dollars in thousands) Insurance reserves $ 52,219 $ 46,844 Accounts payable and other accrued liabilities 16,310 11,699 Total accounts payable and accrued liabilities $ 68,529 $ 58,543

Note 13 - Warranty Accrual

Note 13 - Warranty Accrual	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	1 3 . Warranty Accrual The table set forth below summarizes accrual, adjustment and payment activity related to our warranty accrual for the years ended December 31, 2019, 2018 2017. 2019, 2018 2017, 2018 2017 not December 31, 2019, 2018 2017. Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Balance at beginning of period $ 28,262 $ 21,909 $ 20,678 Expense provisions 15,525 14,513 10,769 Cash payments (12,466 ) (11,573 ) (10,879 ) Adjustments 65 3,413 1,341 Balance at end of period $ 31,386 $ 28,262 $ 21,909

Note 14 - Insurance and Constru

Note 14 - Insurance and Construction Defect Claim Reserves	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	1 4 . Insurance and Construction Defect Claim Reserves The following table summarizes our insurance and defect claim reserves activity for the years ended December 31, 2019, 2018 2017. December 31, 2019 2018 2017 (Dollars in thousands) Balance at beginning of period $ 55,308 $ 52,686 $ 50,954 Expense provisions 12,650 11,213 9,697 Cash payments, net of recoveries (8,493 ) (8,591 ) (9,215 ) Adjustments 950 - 1,250 Balance at end of period $ 60,415 $ 55,308 $ 52,686 We recorded a $1.0 million and $1.3 million adjustment to increase our insurance and construction defect claim reserves in 2019 2017, December 31, 2018. In the ordinary course of business, we make payments from our insurance and construction defect claim reserves to settle litigation claims arising primarily 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 years ended December 31, 2019, 2018 2017, not

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 5 . Income Taxes Our provision for (benefit from) income taxes for the years ended December 31, 2019, 2018 2017 Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Current tax provision: Federal $ 50,870 $ 47,547 $ 41,737 State 2,137 1,798 1,374 Total current 53,007 49,345 43,111 Deferred tax provision: Federal 5,175 (2,755 ) 37,398 State 8,495 6,484 7,388 Total deferred 13,670 3,729 44,786 Provision for income taxes $ 66,677 $ 53,074 $ 87,897 The provision for (benefit from) income taxes differs from the amount that would be computed by applying the statutory federal income tax rate of 21% in 2019 2018 2017 Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Tax expense computed at federal statutory rate $ 64,048 $ 55,409 $ 80,406 State income tax expense, net of federal benefit 9,810 9,661 6,432 Other permanent differences 265 (31 ) (748 ) Domestic manufacturing deduction - - (5,387 ) Limitation on executive compensation 4,463 2,912 - Rate change effect of tax method changes - (5,661 ) - Tax expense (benefit) related to an increase (decrease) in unrecognized tax benefits (1,571 ) 4,680 75 Stock based compensation (windfall)/shortfall (2,828 ) 415 2,832 Federal energy credits (7,649 ) (12,446 ) - Rate changes 190 (78 ) 10,018 Change in valuation allowance 121 (885 ) (8,978 ) Other (172 ) (902 ) 3,247 Provision for income taxes $ 66,677 $ 53,074 $ 87,897 Effective tax rate 21.9 % 20.1 % 38.3 % The year-over-year change in our effective tax rate from 2018 2019 ( 1 2019 ( 2 2019 2018 ( 3 2018 2019. ( 4 2018 2017 The year-over-year change in our effective tax rate from 2017 2018 ( 1 35% 21% 2018 fourth 2017 ( 2 2018 2017, not 2017 December 31, 2017. ( 3 2018 2017 ( 4 2018 ( 5 2017 2017. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant temporary differences that give rise to the net deferred tax asset are as follows: December 31, 2019 2018 (Dollars in thousands) Deferred tax assets: State net operating loss carryforwards $ 10,123 $ 18,045 Stock-based compensation expense 10,493 11,767 Warranty, litigation and other reserves 12,784 12,844 Accrued compensation 2,592 2,622 Asset impairment charges 3,526 5,848 Inventory, additional costs capitalized for tax purposes 7,228 5,863 Other, net 910 1,680 Total deferred tax assets 47,656 58,669 Valuation allowance (6,498 ) (7,598 ) Total deferred tax assets, net of valuation allowance 41,158 51,071 Deferred tax liabilities: Property, equipment and other assets 9,551 8,440 Deferral of profit on home sales 3,359 1,817 Unrealized gain on marketable securities 2,716 375 Other, net 3,764 3,261 Total deferred tax liabilities 19,390 13,893 Net deferred tax asset $ 21,768 $ 37,178 At December 31, 2019, 2020. At December 31, 2019 At December 31, 2019 2018, December 31, 2019, 2018 2017: Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Gross unrecognized tax benefits at beginning of year $ 8,579 $ 547 $ 577 Increases related to prior year tax positions 75 8,190 94 Decreases related to prior year tax positions - - - Lapse of applicable statute of limitations (139 ) (158 ) (124 ) Gross unrecognized tax benefits at end of year $ 8,515 $ 8,579 $ 547 At December 31, 2019 2018, The net expense for interest and penalties for the years ended December 31, 2019, 2018 2017 We have taken positions in certain taxing jurisdictions for which it is reasonably possible that the total amounts of unrecognized tax benefits may twelve The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. We are subject to U.S. federal income tax examination for calendar tax years ending 2016 2019. 2015 2019

Note 16 - Related Party Transac

Note 16 - Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 6 . Related Party Transactions 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 as disclosed in the Form 8 July 27, 2005 8 March 28, 2006. November 1, 2016 October 31, 2021, October 31, 2026. We previously entered into a transaction (the “Transaction”) with The Villages at Castle Rock Metropolitan District No. 6 6, 2017 third no During the year ended December 31, 2017, December 31, 2019 2018. We contributed $1.0 million, $1.0 million and $3.0 million in cash to the MDC/Richmond American Homes Foundation (the “Foundation”) for each of the years ended December 31, 2019, 2018 2017, September 30, 1999. The Foundation is a non-profit organization operated exclusively for charitable, educational and other purposes beneficial to social welfare within the meaning of Section 501 3 December 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.

Note 17 - Lines of Credit and T

Note 17 - Lines of Credit and Total Debt Obligations	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	1 7 . Lines of Credit and Total Debt Obligations Revolving Credit Facility. may November 1, 2018 1 December 18, 2023, ( 2 3 may not 1 2 3 4 may not no 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% or more of our outstanding common stock. We believe we were in compliance with the representations, warranties and covenants included in the Revolving Credit Facility as of December 31, 2019. We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At December 31, 2019 2018, December 31, 2019 2018. December 31, 2019, Mortgage Repurchase Facility. May 23, 2019, May 21, 2020. November 12, 2008, may December 24, 2019 $75 January 22, 2020. December 27, 2018 January 25, 2019. December 31, 2019 2018, 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 December 31, 2019. Senior Notes. not not Our debt obligations at December 31, 2019 2018, December 31, 2019 2018 (Dollars in thousands) $250 Million 5.625% senior notes due February 2020, net $ 249,909 $ 248,850 $250 Million 5.500% senior notes due January 2024, net 249,005 248,789 $500 Million 6.000% senior notes due January 2043, net 490,508 490,328 Total $ 989,422 $ 987,967 On January 9, 2020, January 2030 ( 24

Note 18 - Commitments and Conti

Note 18 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 8 . Commitments and Contingencies Surety Bonds and Letter s of Credit. December 31, 2019, December 31, 2019, 17 not We have made no third Litigation Reserves . not December 31, 2019 2018, Loan Origination Liabilities. 2009 one December 31, 2019 not Lot Option Contracts December 31, 2019,

Note 19 - Concentration of Thir

Note 19 - Concentration of Third-party Mortgage Purchasers	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	1 9 . Concentration of Third-Party Mortgage Purchasers The following table sets forth the percent of mortgage loans sold by HomeAmerican to its primary third 2019, 2018 2017. No third 10 2019, 2018 2017. Year Ended December 31, 2019 2018 2017 PennyMac Loan Services, LLC 41 % 23 % 17 % Wells Fargo Funding, Inc. 16 % 9 % 13 % Fannie Mae 7 % 11 % 11 % U.S. Bancorp 6 % 11 % 9 % SunTrust Mortgage, Inc. 4 % 11 % 8 % Ginnie Mae 4 % 5 % 11 % Flagstar Bancorp, Inc. 3 % 11 % 6 %

Note 20 - Stockholders' Equity

Note 20 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	20 . Stockholders' Equity Cash Dividends. December 31, 2019, 2018 2017, Stock Dividends. January 28, 2019, February 28, 2019 February 14, 2019. November 20, 2017, December 19, 2017 December 5, 2017. Common Stock Repurchase Program December 31, 2019, no December 31, 2019, 2018 2017. no December 31, 2019.

Note 21 - Equity Incentive and

Note 21 - Equity Incentive and Employee Benefit Plans	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Equity Incentive Plans [Text Block]	2 1 . Equity Incentive and Employee Benefit Plans A summary of our equity incentive plans, restated as applicable for stock dividends, follows. Employee Equity Incentive Plans. March 2001, 2001 “2001 seven ten five March 26, 2011, 2001 may 2001 December 31, 2019. On April 27, 2011, 2011 “2011 2011 five ten December 31, 2019, 2011 December 31, 2019 . Director Equity Incentive Plans March 2001, “2001 ten 2001 May 21, 2012 may 2001 December 31, 2019. Effective April 27, 2011, 2011 “2011 March 29, 2016, 2011 2011 August 1 1 2 2011 six ten 2011 seven December 31, 2019, 2011 December 31, 2019. Employee Benefit Plan 401 may 2018 first December 31, 2019, first 2020 2019 December 31, 2018, first 2019 2018 December 31, 2017, first 2018 2017

Note 22 - Stock Based Compensat

Note 22 - Stock Based Compensation	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	2 2 . Stock Based Compensation All share and per share amounts have been adjusted for the stock dividends distributed during 2019 2017, Determining Fair Value of Share-Based Option Awards The fair values for Service-Based options granted for the years ended December 31, 2019 2018 December 31, 2017, Year Ended December 31, 2019 2018 2017 Expected lives of options (years) 9.5 9.1 N/A Expected volatility 29.9 % 29.7 % N/A Risk free interest rate 1.7 % 3.0 % N/A Dividend yield rate 3.4 % 3.9 % N/A Based on calculations using the Black-Scholes option pricing model, the weighted-average grant date fair values of stock options granted during 2019 2018 Stock Option Award Activity December 31, 2019, 2018 2017 Year Ended December 31, 2019 2018 2017 Weighted- Weighted- Weighted- Average Average Average Number of Exercise Number of Exercise Number of Exercise Shares Price Shares Price Shares Price Outstanding Stock Option Activity Outstanding, beginning of year 5,974,433 $ 23.50 6,094,033 $ 23.35 7,175,816 $ 24.20 Granted 412,247 35.55 486,000 28.45 - N/A Exercised (987,496 ) 25.65 (393,571 ) 25.06 (411,249 ) 23.00 Forfeited - N/A (9,950 ) 20.46 - N/A Cancelled - N/A (202,079 ) 27.94 (670,534 ) 32.63 Outstanding, end of year 5,399,184 $ 24.00 5,974,433 $ 23.50 6,094,033 $ 23.35 Year Ended December 31, 2019 2018 2017 Weighted- Weighted- Weighted- Number of Average Number of Average Number of Average Shares Fair Value Shares Fair Value Shares Fair Value Unvested Stock Option Activity Outstanding, beginning of year 483,542 $ 6.26 135,481 $ 5.76 2,670,744 $ 4.72 Granted 412,247 7.88 486,000 6.32 - N/A Vested (195,541 ) 5.93 (127,989 ) 6.18 (2,535,263 ) 4.66 Forfeited - N/A (9,950 ) 3.90 - N/A Unvested, end of year 700,248 $ 7.20 483,542 $ 6.26 135,481 $ 5.76 The total intrinsic value of options (difference between price per share as of the exercise date and the exercise price, times the number of options outstanding) exercised during the years ended December 31, 2019, 2018 2017 The following table provides data for our stock options that are vested or expected to vest as of December 31, 2019. Exercisable or expected to vest Number outstanding 5,397,398 Weighted-average exercise price $ 24.00 Aggregate intrinsic value (in thousands) $ 76,431 Weighted-average remaining contractual term (years) 4.75 Exercisable Number outstanding 4,698,936 Weighted-average exercise price $ 22.75 Aggregate intrinsic value (in thousands) $ 72,411 Weighted-average remaining contractual term (years) 4.12 The aggregate intrinsic values in the tables above represent the total pretax intrinsic values (the difference between the closing price of MDC’s common stock on the last trading day of fiscal 2019 December 31, 2019. The following table summarizes information associated with outstanding and exercisable stock options at December 31, 2019. Options Outstanding Options Exercisable Weighted- Weighted- Average Average Remaining Weighted- Remaining Weighted- Contractual Average Contractual Average Number Life (in Exercise Number Life (in Exercise Range of Exercise Price Outstanding years) Price Outstanding years) Price $ 15.01 - $ 20.00 1,269,604 2.26 $ 19.89 1,260,418 2.24 $ 19.90 $ 20.01 - $ 25.00 2,894,522 4.97 23.17 2,891,460 4.96 23.17 $ 25.01 - $ 30.00 804,440 5.58 27.40 516,440 4.01 26.78 $ 30.01 - $ 35.00 30,618 3.08 32.37 30,618 3.08 32.37 $ 35.01 - $ 40.00 400,000 9.59 35.55 - NA N/A Total 5,399,184 4.75 $ 24.00 4,698,936 4.12 $ 22.75 Total compensation expense relating to stock options was $1.5 million, $1.2 million and $0.5 million for the years ended December 31, 2019, 2018 2017, December 31, 2019, 2018 2017 As of December 31, 2019, For the years ended December 31, 2019, 2018 2017 December 31, 2019, 2018 2017 Restricted and Unrestricted Stock Award Activity December 31, 2019, 2018 2017 Year Ended December 31, 2019 2018 2017 Weighted- Weighted- Weighted- Average Average Average Number of Grant Date Number of Grant Date Number of Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Unvested, beginning of year 337,909 $ 25.61 317,390 $ 23.89 221,133 $ 19.85 Granted 167,676 33.85 143,214 29.51 160,620 27.42 Vested (156,235 ) 27.24 (117,404 ) 25.45 (57,375 ) 22.57 Forfeited (5,292 ) 30.56 (5,292 ) 28.84 (6,988 ) 21.81 Unvested, end of year 344,058 $ 30.54 337,909 $ 25.61 317,390 $ 23.89 Total compensation expense relating to restricted stock awards was $4.8 million, $3.6 million and $2.6 million for the years ended December 31, 2019, 2018 2017, December 31, 2019, 2018 2017 At December 31, 2019, 2019 December 31, 2019 December 31, 2019, 2018 2017 Performance Share Unit Awards. August 5, 2019, May 23, 2018, June 20, 2017 July 25, 2016, 2011 three fifteen three 2017, 2018 2019, Threshold Goal Target Goal Maximum Goal 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* Maximum Remaining Expense to be Recognized* July 25, 2016 July 1, 2016 to June 30, 2019 July 1, 2015 to June 30, 2016 $1.975 billion 137,781 $2.074 billion 275,562 $2.173 billion 551,124 $2.370 billion $ 19.66 $ 10,834 $ - June 20, 2017 April 1, 2017 to March 31, 2020 April 1, 2016 to March 31, 2017 $2.426 billion 144,342 $2.547 billion 288,684 $2.669 billion 577,368 $2.911 billion $ 27.83 $ 16,070 $ 1,446 May 23, 2018 April 1, 2018 to March 31, 2021 April 1, 2017 to March 31, 2018 $2.543 billion 145,800 $2.670 billion 291,600 $2.797 billion 583,200 $3.052 billion $ 25.57 $ 14,915 $ 8,623 August 5, 2019 January 1, 2019 to December 31, 2021 January 1, 2018 to December 31, 2018 $2.982 billion 135,000 $3.131 billion 270,000 $3.280 billion 540,000 $3.578 billion $ 32.60 $ 17,604 $ 17,604 * Dollars in thousands In accordance with ASC 718, not 718 not 2016 . 2016 August 7, 2019 December 31, 2019, 2018 2017 201 7 PSU Grants . December 31, 2019, December 31, 2019 2018 December 31, 2017, not December 31, 2017. 2018 PSU Grant December 31, 2019, December 31, 2019. December 31, 2018, not December 31, 2018. 2019 August 2019, not December 31, 2019. Our employee equity incentive plans permit us to withhold from the total number of shares that otherwise would be released to a restricted stock or performance share unit award recipient upon distribution that number of shares having a fair value at the time of distribution equal to the applicable income tax withholdings due. For the year ended December 31, 2019, December 31, 2018 2017.

Note 23 - Results of Quarterly

Note 23 - Results of Quarterly Operations (Unaudited) (Restated for Stock Dividends)	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Quarterly Financial Information [Text Block]	2 3 . Results of Quarterly Operat ions (Unaudited) (Restated for Stock D ividends) Quarter First Second Third Fourth (Dollars in thousands, except per share amounts) 2019 Total revenue $ 664,682 $ 751,441 $ 772,662 $ 1,104,468 Home sales revenue $ 647,278 $ 732,844 $ 750,274 $ 1,074,852 Asset impairments $ (610 ) $ - $ - $ (325 ) Gross margin from home sales (including impairments) 18.9 % 19.5 % 18.8 % 18.5 % Homebuilding selling, general and administrative expenses $ 82,261 $ 82,712 $ 92,716 $ 105,101 Income before income taxes $ 55,606 $ 74,331 $ 62,806 $ 112,246 Net income $ 40,550 $ 54,593 $ 50,580 $ 92,589 Earnings per share: Basic $ 0.66 $ 0.88 $ 0.81 $ 1.48 Diluted $ 0.64 $ 0.86 $ 0.79 $ 1.42 2018 Total revenue $ 626,723 $ 770,980 $ 785,638 $ 881,875 Home sales revenue $ 607,688 $ 749,608 $ 766,027 $ 858,488 Asset impairments $ (550 ) $ (200 ) $ (11,098 ) $ (10,002 ) Gross margin from home sales (including impairments) 18.2 % 19.1 % 17.7 % 18.1 % Homebuilding selling, general and administrative expenses $ 71,341 $ 81,571 $ 83,523 $ 93,366 Income before income taxes $ 50,532 $ 76,616 $ 67,420 $ 69,286 Net income $ 38,764 $ 63,899 $ 53,392 $ 54,725 Earnings per share: Basic $ 0.64 $ 1.05 $ 0.87 $ 0.90 Diluted $ 0.63 $ 1.03 $ 0.86 $ 0.88

Note 24 - Subsequent Events

Note 24 - Subsequent Events	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	2 4 . Subsequent Events On January 9, 2020, 3.850% January 2030 3.850% January 15 July 15

Note 25 - Supplemental Guaranto

Note 25 - Supplemental Guarantor Information	12 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	2 5 . 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%-owned subsidiaries of the Company. ● 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 3 4 not 5 December 3, 2002, We have determined that separate, full financial statements of the Guarantor Subsidiaries would not M.D.C. Holding s, Inc. Supplemental Condensed Combining Balance Sheet December 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC Dollars in thousands ASSETS Homebuilding: Cash and cash equivalents $ 418,822 $ 5,364 $ - $ - $ 424,186 Marketable securities - - - - - Restricted cash - 14,279 - - 14,279 Trade and other receivables 624 65,205 - - 65,829 Inventories: Housing completed or under construction - 1,036,191 - - 1,036,191 Land and land under development - 1,330,384 - - 1,330,384 Total inventories - 2,366,575 - - 2,366,575 Intercompany receivables 1,936,075 6,370 - (1,942,445 ) - Investment in subsidiaries 488,993 - - (488,993 ) - Property and equipment, net 23,192 37,222 - - 60,414 Deferred tax assets, net 22,508 - - (740 ) 21,768 Other assets 34,728 43,630 - - 78,358 Total Homebuilding Assets 2,924,942 2,538,645 - (2,432,178 ) 3,031,409 Financial Services: Cash and cash equivalents - - 35,747 - 35,747 Marketable securities - - 56,747 - 56,747 Intercompany receivables - - 47,753 (47,753 ) - Mortgage loans held-for-sale, net - - 197,021 - 197,021 Other assets - - 16,692 740 17,432 Total Financial Services Assets - - 353,960 (47,013 ) 306,947 Total Assets $ 2,924,942 $ 2,538,645 $ 353,960 $ (2,479,191 ) $ 3,338,356 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 289 $ 87,075 $ - $ - $ 87,364 Accrued and other liabilities 84,088 156,652 - 5,200 245,940 Advances and notes payable to parent and subsidiaries 53,658 1,912,969 - (1,966,627 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 989,422 - - - 989,422 Total Homebuilding Liabilities 1,142,457 2,156,696 - (1,961,427 ) 1,337,726 Financial Services: Accounts payable and accrued liabilities - - 73,729 (5,200 ) 68,529 Advances and notes payable to parent and subsidiaries - - 23,571 (23,571 ) - Mortgage repurchase facility - - 149,616 - 149,616 Total Financial Services Liabilities - - 246,916 (28,771 ) 218,145 Total Liabilities 1,142,457 2,156,696 246,916 (1,990,198 ) 1,555,871 Equity: Total Stockholders' Equity 1,782,485 381,949 107,044 (488,993 ) 1,782,485 Total Liabilities and Stockholders' Equity $ 2,924,942 $ 2,538,645 $ 353,960 $ (2,479,191 ) $ 3,338,356 M.D.C. Holdings, Inc. 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 Marketable securities - - - - - 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 Other assets, net 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, net - - 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 and other 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 M.D.C. Holdings, Inc. Supplemental Condensed Combining Statements of Operations and Comprehensive Income Year Ended December 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 3,205,248 $ - $ - $ 3,205,248 Cost of Sales - (2,600,196 ) - - (2,600,196 ) Inventory impairments - (935 ) - - (935 ) Gross margin - 604,117 - - 604,117 Selling, general, and administrative expenses (71,720 ) (290,507 ) - (563 ) (362,790 ) Equity income of subsidiaries 286,606 - - (286,606 ) - Interest and other income 8,996 1,242 - (1,168 ) 9,070 Other expense 30 (5,665 ) - - (5,635 ) Homebuilding pretax income (loss) 223,912 309,187 - (288,337 ) 244,762 Financial Services: Financial services pretax income - - 58,496 1,731 60,227 Income before income taxes 223,912 309,187 58,496 (286,606 ) 304,989 Provision for income taxes 14,400 (67,595 ) (13,482 ) - (66,677 ) Net income $ 238,312 $ 241,592 $ 45,014 $ (286,606 ) $ 238,312 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 238,312 $ 241,592 $ 45,014 $ (286,606 ) $ 238,312 M.D.C. Holdings, Inc. Supplemental Condensed Combining Statement s of Operations and Comprehensive Income Year Ended December 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 2,981,811 $ - $ - $ 2,981,811 Cost of Sales - (2,415,139 ) - - (2,415,139 ) Inventory impairments - (21,850 ) - - (21,850 ) Gross margin - 544,822 - - 544,822 Selling, general, and administrative expenses (64,824 ) (264,475 ) - (502 ) (329,801 ) Equity income of subsidiaries 254,723 - - (254,723 ) - Interest and other income 7,843 1,029 4 (1,158 ) 7,718 Other expense 30 (5,275 ) - - (5,245 ) Homebuilding pretax income (loss) 197,772 276,101 4 (256,383 ) 217,494 Financial Services: Financial services pretax income - - 44,700 1,660 46,360 Income before income taxes 197,772 276,101 44,704 (254,723 ) 263,854 Provision for income taxes 13,008 (55,539 ) (10,543 ) - (53,074 ) Net income $ 210,780 $ 220,562 $ 34,161 $ (254,723 ) $ 210,780 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 210,780 $ 220,562 $ 34,161 $ (254,723 ) $ 210,780 M.D.C. Holdings, Inc. Supplemental Condensed Combining Statements of Operations and Comprehensive Income Year Ended December 31, 2017 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 2,503,242 $ - $ - $ 2,503,242 Cost of Sales - (2,078,371 ) 98 - (2,078,273 ) Inventory impairments - (10,010 ) - - (10,010 ) Gross margin - 414,861 98 - 414,959 Selling, general, and administrative expenses (52,252 ) (234,430 ) - (806 ) (287,488 ) Equity income of subsidiaries 144,190 - - (144,190 ) - Interest and other income 59,042 2,834 6 (546 ) 61,336 Other expense (30 ) (2,838 ) - - (2,868 ) Homebuilding pretax income (loss) 150,950 180,427 104 (145,542 ) 185,939 Financial Services: Financial services pretax income - - 42,441 1,352 43,793 Income before income taxes 150,950 180,427 42,545 (144,190 ) 229,732 Provision for income taxes (9,115 ) (64,051 ) (14,731 ) - (87,897 ) Net income $ 141,835 $ 116,376 $ 27,814 $ (144,190 ) $ 141,835 Other comprehensive income related to available-for-sale securities, net of tax (18,079 ) - 3,382 (3,382 ) (18,079 ) Comprehensive income $ 123,756 $ 116,376 $ 31,196 $ (147,572 ) $ 123,756 M.D.C. Holdings, Inc. Supplementa l Condensed Combining Statement of Cash Flows Year Ended December 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (9,997 ) $ 74,134 $ (6,304 ) $ - $ 57,833 Net cash provided by (used in) investing activities 76,468 (23,833 ) (4,149 ) (77,271 ) (28,785 ) Financing activities: Payments from (advances to) subsidiaries - (41,618 ) (35,653 ) 77,271 - Advances on mortgage repurchase facility, net - - 32,801 - 32,801 Dividend payments (73,117 ) - - - (73,117 ) Issuance of shares under stock-based compensation programs, net 15,341 - - - 15,341 Net cash provided by (used in) financing activities (57,776 ) (41,618 ) (2,852 ) 77,271 (24,975 ) Net increase (decrease) in cash and cash equivalents 8,695 8,683 (13,305 ) - 4,073 Cash and cash equivalents: Beginning of period 410,127 10,960 49,052 - 470,139 End of period $ 418,822 $ 19,643 $ 35,747 $ - $ 474,212 Year Ended December 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ 10,925 $ (47,132 ) $ 28,301 $ - $ (7,906 ) Net cash provided by (used in) investing activities (8,632 ) (25,415 ) (2,639 ) 56,900 20,214 Financing activities: Payments from (advances to) subsidiaries - 70,456 (13,556 ) (56,900 ) - Advances on mortgage repurchase facility, net - - 4,475 - 4,475 Dividend payments (67,718 ) - - - (67,718 ) Payments of deferred financing costs (3,026 ) - - - (3,026 ) Issuance of shares under stock-based compensation programs, net 9,860 - - - 9,860 Net cash provided by (used in) financing activities (60,884 ) 70,456 (9,081 ) (56,900 ) (56,409 ) Net increase (decrease) in cash and cash equivalents (58,591 ) (2,091 ) 16,581 - (44,101 ) Cash and cash equivalents: Beginning of period 468,718 13,051 32,471 - 514,240 End of period $ 410,127 $ 10,960 $ 49,052 $ - $ 470,139 M.D.C. Holdings, Inc. Supplementa l Condensed Combining Statement of Cash Flows Year Ended December 31, 2017 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by operating activities $ 30,815 $ 8,991 $ 30,700 $ - $ 70,506 Net cash provided by (used in) investing activities 80,822 (454 ) (253 ) (22,325 ) 57,790 Financing activities: Payments from (advances to) subsidiaries - (2,672 ) (19,653 ) 22,325 - Advances on mortgage repurchase facility, net - - (2,145 ) - (2,145 ) Proceeds from the issuance of senior notes 146,463 - - - 146,463 Dividend payments (51,897 ) - - - (51,897 ) Excess tax benefit from share-based awards (2,665 ) - - - (2,665 ) Issuance of shares under stock-based compensation programs, net 9,501 - - - 9,501 Net cash provided by (used in) financing activities 101,402 (2,672 ) (21,798 ) 22,325 99,257 Net increase in cash and cash equivalents 213,039 5,865 8,649 - 227,553 Cash and cash equivalents: Beginning of period 255,679 7,186 23,822 - 286,687 End of period $ 468,718 $ 13,051 $ 32,471 $ - $ 514,240

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
Business Description, Policy [Policy Text Block]	Description of Business Our financial services operations consist of HomeAmerican Mortgage Corporation (“HomeAmerican”), which originates mortgage loans, primarily for our homebuyers, American Home Insurance Agency, Inc. (“American Home Insurance”), which offers third
Basis of Accounting, Policy [Policy Text Block]	Presentation
Use of Estimates, Policy [Policy Text Block]	Use of Accounting Estimates
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents three
Investment, Policy [Policy Text Block]	Equity securities January 1, 2018, 2016 01 2 Debt securities
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash may December 31, 2019 2018,
Receivable [Policy Text Block]	Trade and Other Receivables December 31, 2019 2018,
Financing Receivable, Held-for-sale [Policy Text Block]	Mortgage Loans Held-for-Sale, net third
Inventory, Real Estate, Policy [Policy Text Block]	Inventories 1 2 3 4 5 6 1 2 3 4 5 In accordance with Accounting Standards Codification (“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 7, Fair Value Measurements, 3 If land is classified as held for sale, in accordance with ASC 360, 2 7, Fair Value Measurements not not
Costs Related to Sales Facilities, Policy [Policy Text Block]	Costs Related to Sales Facilities. 340 40, Other Assets and Deferred Costs – Contracts with Customers January 1, 2018, 2 not
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, net December 31, 2019, 2018 2017, The following table sets forth the cost and carrying value of our homebuilding property and equipment by major asset category. Accumulated Depreciation and Carrying Cost Amortization Value December 31, 2019: (Dollars in thousands) Sales facilities $ 60,964 $ (25,802 ) $ 35,162 Airplane 31,230 (10,145 ) 21,085 Computer software and equipment 22,660 (20,730 ) 1,930 Leasehold improvements 7,339 (5,817 ) 1,522 Other 2,056 (1,341 ) 715 Total $ 124,249 $ (63,835 ) $ 60,414 December 31, 2018: Sales facilities $ 59,374 $ (26,920 ) $ 32,454 Airplane 31,013 (9,488 ) 21,525 Computer software and equipment 21,507 (19,374 ) 2,133 Leasehold improvements 6,827 (5,188 ) 1,639 Other 1,577 (1,161 ) 416 Total $ 120,298 $ (62,131 ) $ 58,167
Income Tax, Policy [Policy Text Block]	Deferred Tax Asset s , net 1 2 not 50% not
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entities 810, Consolidation 810” not 810 not December 31, 2019 2018, not
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill. 350, Intangibles–Goodwill and Other (“ASC 350” may not three first no If a qualitative assessment indicates it is more likely than not second third third Based on our analysis, we have concluded that as of December 31, 2019 2018, no
Income Tax Uncertainties, Policy [Policy Text Block]	Liability for Unrecognized Tax Benefits. 740, Income Taxes The evaluation of a tax position is a two first not not not not The second not 50
Standard Product Warranty, Policy [Policy Text Block]	Warranty Accrual third third first two three ten not Warranty payments are recorded against the warranty accrual. Additional reserves may not may We assess the reasonableness and adequacy of the reserve and the per-unit reserve amount originally included in home cost of sales, as well as the timing of the reversal of any excess reserve on a quarterly basis, using historical payment data and other relevant information. Our warranty accrual is included in accrued and other 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.
Liability Reserve Estimate, Policy [Policy Text Block]	Insurance Reserves. 14
Self Insurance Reserve [Policy Text Block]	Reserves for Construction Defect Claims. 1 2 not 14
Commitments and Contingencies, Policy [Policy Text Block]	Litigation Reserves. 18
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments not At December 31, 2019 2018, December 31, 2019 2018, not not December 31, 2019 2018, For the years ended December 31, 2019, 2018 2017,
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition for Homebuilding Segments. We generally do not 1 not 2 not third In certain states where we build, we are not not Revenue expected to be recognized in any future year related to remaining performance obligations (if any) and contract liabilities expected to be recognized as revenue, excluding revenue pertaining to contracts that have an original expected duration of one not Revenue Recognition for HomeAmerican 1 2 third third 1 third 2 third 3 not We measure mortgage loans held-for-sale at fair value with the changes in fair value being reported in earnings at each reporting date. The impact of recording changes in fair value to earnings did not December 31, 2019, 2018 2017. December 31, 2019, 2018 2017,
Revenue from Contract With Customer, Cost of Sales, Policy [Policy Text Block]	Home Cost of Sales When a home is closed, we may not 1 not 2
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation Expense 718, Compensation—Stock Compensation 718” ● Awards with service-based vesting conditions only – Expense is recognized on a straight-line basis over the requisite service period of the award. ● Awards with performance-based vesting conditions – Expense is not ● Awards with market-based vesting conditions (“Market-Based”) – Expense is recognized on a straight-line basis over the requisite service period, which is the lesser of the derived service period or the explicit service period, if one An annual forfeiture rate is estimated at the time of grant for all share-based payment awards that contain service and/or performance conditions. That rate is revised, if necessary, in subsequent periods if the actual forfeiture rate differs from our estimate.
Earnings Per Share, Policy [Policy Text Block]	Earnings (Loss) Per Common Share. two two two 260.

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	Accumulated Depreciation and Carrying Cost Amortization Value December 31, 2019: (Dollars in thousands) Sales facilities $ 60,964 $ (25,802 ) $ 35,162 Airplane 31,230 (10,145 ) 21,085 Computer software and equipment 22,660 (20,730 ) 1,930 Leasehold improvements 7,339 (5,817 ) 1,522 Other 2,056 (1,341 ) 715 Total $ 124,249 $ (63,835 ) $ 60,414 December 31, 2018: Sales facilities $ 59,374 $ (26,920 ) $ 32,454 Airplane 31,013 (9,488 ) 21,525 Computer software and equipment 21,507 (19,374 ) 2,133 Leasehold improvements 6,827 (5,188 ) 1,639 Other 1,577 (1,161 ) 416 Total $ 120,298 $ (62,131 ) $ 58,167

Note 2 - Recently Issued Acco_2

Note 2 - Recently Issued Accounting Standards (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Balance at December 31, 2017 Adjustments due to Adjustments due to Adjustments due to Balance at January 1, 2018 Balance Sheet (Dollars in thousands) Assets: Homebuilding: Housing completed or under construction $ 936,685 $ - $ - $ 7,406 $ 944,091 Property and equipment, net 26,439 - - 25,270 51,709 Prepaid and other assets 75,666 - - (34,227 ) 41,439 Deferred tax asset, net 41,480 - - (573 ) 40,907 Financial Services: Other assets 9,617 - - 3,898 13,515 Stockholders' Equity: Retained earnings 258,164 (860 ) 4,852 1,774 263,930 Accumulated other comprehensive income 3,992 860 (4,852 ) - -

Note 3 - Supplemental Income _2

Note 3 - Supplemental Income Statement and Cash Flow Disclosure (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Interest and Other Income [Table Text Block]	Year Ended December 31, 2019 2018 2017 Homebuilding Interest and other income Interest income $ 7,797 $ 6,376 $ 3,896 Dividend income - - 1,160 Net realized gains from the sales of marketable securities - - 17,775 Realized gain from the sale of metropolitan district bond securities (related party) - - 35,847 Other income 1,273 1,342 2,658 Total $ 9,070 $ 7,718 $ 61,336 Financial Services Other income (expense), net Interest income $ 4,404 $ 4,031 $ 2,924 Dividend income 1,022 869 1,031 Gain (loss) on marketable equity securities, net 11,797 (3,745 ) - Total $ 17,223 $ 1,155 $ 3,955
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Cash paid for: Interest, net of interest capitalized $ 685 $ 726 $ 637 Income taxes $ 56,476 $ 30,157 $ 49,830

Note 4 - Segment Reporting (Tab

Note 4 - Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Homebuilding West $ 1,771,060 $ 1,567,141 $ 1,316,069 Mountain 1,131,568 1,080,475 805,669 East 302,620 334,195 381,504 Total homebuilding revenues $ 3,205,248 $ 2,981,811 $ 2,503,242 Financial Services Mortgage operations $ 55,222 $ 53,476 $ 48,841 Other 32,783 29,929 25,531 Total financial services revenues $ 88,005 $ 83,405 $ 74,372 Total revenues $ 3,293,253 $ 3,065,216 $ 2,577,614
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Homebuilding West $ 163,069 $ 128,829 $ 79,719 Mountain 136,313 134,710 86,428 East 9,857 12,611 14,418 Corporate 1 (64,477 ) (58,656 ) 5,374 Total homebuilding pretax income $ 244,762 $ 217,494 $ 185,939 Financial Services Mortgage operations $ 29,312 $ 31,920 $ 28,628 Other 30,915 14,440 15,165 Total financial services pretax income $ 60,227 $ 46,360 $ 43,793 Total pretax income $ 304,989 $ 263,854 $ 229,732
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	December 31, 2019 2018 (Dollars in thousands) Homebuilding Assets West $ 1,461,645 $ 1,301,374 Mountain 869,665 793,150 East 194,592 169,485 Corporate 505,507 484,193 Total homebuilding assets $ 3,031,409 $ 2,748,202 Financial Services Mortgage operations $ 209,946 $ 159,677 Other 97,001 93,198 Total financial services assets $ 306,947 $ 252,875 Total assets $ 3,338,356 $ 3,001,077

Note 5 - Earnings Per Share (Ta

Note 5 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands, except per share amounts) Numerator Net income $ 238,312 $ 210,780 $ 141,835 Less: distributed earnings allocated to participating securities (466 ) (413 ) (257 ) Less: undistributed earnings allocated to participating securities (1,020 ) (846 ) (441 ) Net income attributable to common stockholders (numerator for basic earnings per share) 236,826 209,521 141,137 Add back: undistributed earnings allocated to participating securities 1,020 846 441 Less: undistributed earnings reallocated to participating securities (992 ) (833 ) (431 ) Numerator for diluted earnings per share under two class method $ 236,854 $ 209,534 $ 141,147 Denominator Weighted-average common shares outstanding 61,616,988 60,571,123 60,117,021 Add: dilutive effect of stock options 1,737,945 984,076 1,336,557 Add: dilutive effect of performance share units 347,733 275,562 - Denominator for diluted earnings per share under two class method 63,702,666 61,830,761 61,453,578 Basic Earnings Per Common Share $ 3.84 $ 3.46 $ 2.35 Diluted Earnings Per Common Share $ 3.72 $ 3.39 $ 2.30

Note 6 - Accumulated Other Co_2

Note 6 - Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Unrealized gains (losses) on available-for-sale marketable securities (1) Beginning balance $ - $ 3,992 $ 7,730 Adoption of accounting standards (Note 2) - (3,992 ) - Other comprehensive income (loss) before reclassifications - - 7,320 Amounts reclassified from AOCI (2) - - (11,058 ) Ending balance $ - $ - $ 3,992 Unrealized gains on available-for-sale metropolitan district bond securities (1) Beginning balance $ - $ - $ 14,341 Other comprehensive income before reclassifications - - 7,884 Amounts reclassified from AOCI - - (22,225 ) Ending balance $ - $ - $ - Total ending AOCI $ - $ - $ 3,992
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Year Ended December 31, Affected Line Item in the Statements of Operations 2019 2018 2017 (Dollars in thousands) Homebuilding: Net realized gains (losses) from the sales of marketable securities $ - $ - $ 17,775 Homebuilding: Realized gain from the sale of metropolitan district bond securities (related party) - - 35,847 Homebuilding: Other-than-temporary impairment of marketable securities - - (51 ) Financial services: Interest and other income - - 347 Financial services: Other-than-temporary impairment of marketable securities - - (235 ) Income before income taxes - - 53,683 Provision for income taxes - - (20,400 ) Net income $ - $ - $ 33,283

Note 7 - Fair Value Measureme_2

Note 7 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Financial Instrument Hierarchy December 31, 2019 December 31, 2018 (Dollars in thousands) Cash and cash equivalents Debt securities (available-for-sale) Level 1 $ - $ 34,866 Marketable securities Equity securities Level 1 $ 56,747 $ 40,879 Mortgage loans held-for-sale, net Level 2 $ 197,021 $ 149,211
Available-for-sale Securities [Table Text Block]	December 31, 2018 Amortized 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]	Year Ended December 31, 2019 2018 (Dollars in thousands) Net gain (loss) recognized during the period on equity securities $ 11,797 $ (3,745 ) Less: Net gain (loss) recognized during the period on equity securities sold during the period 647 (534 ) Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ 11,150 $ (3,211 )
Fair Value of Senior Notes [Table Text Block]	December 31, 2019 December 31, 2018 Carrying Fair Value Carrying Fair Value (Dollars in thousands) $250 Million 5.625% senior notes due February 2020, net $ 249,909 $ 250,400 $ 248,850 $ 253,413 $250 Million 5.500% senior notes due January 2024, net 249,005 272,083 248,789 242,983 $500 Million 6.000% senior notes due January 2043, net 490,508 528,542 490,328 386,552 Total $ 989,422 $ 1,051,025 $ 987,967 $ 882,948

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Inventory [Table Text Block]	December 31, December 31, 2019 2018 (Dollars in thousands) Housing Completed or Under Construction: West $ 589,040 $ 521,960 Mountain 358,370 347,738 East 88,781 82,738 Subtotal 1,036,191 952,436 Land and Land Under Development: West 772,189 705,591 Mountain 468,718 402,657 East 89,477 72,310 Subtotal 1,330,384 1,180,558 Total Inventories $ 2,366,575 $ 2,132,994
Schedule of Inventory Impairments [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Housing Completed or Under Construction: West $ 100 $ 2,860 $ 4,733 Mountain - 417 390 East 435 1,227 2,720 Subtotal 535 4,504 7,843 Land and Land Under Development: West - 16,198 1,252 Mountain 400 958 380 East - 190 535 Subtotal 400 17,346 2,167 Total Inventory Impairments $ 935 $ 21,850 $ 10,010
Quantitative Data for Fair Value of the Impaired Inventory [Table Text Block]	Impairment Data Quantitative Data Three Months Ended Total Inventory Fair Value of Number of Discount Rate (Dollars in thousands) March 31, 2019 16 $ 610 $ 10,476 2 N/A June 30, 2019 12 - - 0 N/A September 30, 2019 16 - - 0 N/A December 31, 2019 14 325 3,948 2 N/A Total $ 935 March 31, 2018 24 $ 550 $ 5,223 2 12% June 30, 2018 17 200 767 1 12% September 30, 2018 17 11,098 29,874 2 12% - 18% December 31, 2018 20 10,002 32,248 10 12% - 18% Total $ 21,850 March 31, 2017 33 $ 4,850 $ 19,952 2 12% - 18% June 30, 2017 35 - - 0 N/A September 30, 2017 33 4,540 52,190 9 10% - 15% December 31, 2017 23 620 14,245 2 10% - 12% Total $ 10,010

Note 9 - Capitalization of In_2

Note 9 - Capitalization of Interest (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Capitalization of Interest [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Homebuilding interest incurred $ 63,635 $ 62,631 $ 55,170 Less: Interest capitalized (63,635 ) (62,631 ) (55,170 ) Homebuilding interest expensed $ - $ - $ - Interest capitalized, beginning of period $ 54,845 $ 57,541 $ 68,085 Plus: Interest capitalized during period 63,635 62,631 55,170 Less: Previously capitalized interest included in home and land cost of sales (63,170 ) (65,327 ) (65,714 ) Interest capitalized, end of period $ 55,310 $ 54,845 $ 57,541

Note 10 - Homebuilding Prepai_2

Note 10 - Homebuilding Prepaid and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Other Assets [Table Text Block]	December 31, 2019 2018 (Dollars in thousands) Operating lease right-of-use asset (Note 2 and Note 11) $ 30,277 $ - Land option deposits 27,361 23,805 Prepaid expenses 7,294 7,324 Goodwill 6,008 6,008 Deferred debt issuance costs on revolving credit facility, net 6,130 7,662 Other 1,288 995 Total $ 78,358 $ 45,794

Note 11 - Leases (Tables)

Note 11 - Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Year Ended December 31, 2019 (Dollars in thousands) Operating lease cost 1 $ 7,690 Sublease income (Note 16) (150 ) Net lease cost $ 7,540
Schedule of Lease Cash Flow Information [Table Text Block]	Year Ended December 31, 2019 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,255 Leased assets obtained in exchange for new operating lease liabilities $ 3,255
Schedule of Lease Terms and Discount Rates [Table Text Block]	December 31, 2019 Weighted-average remaining lease term (years) 6.1 Weighted-average discount rate 5.5 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ended December 31, 2020 $ 6,300 2021 6,705 2022 6,314 2023 5,294 2024 4,873 Thereafter 8,289 Total operating lease payments 1 $ 37,775 Less: Interest 5,605 Present value of operating lease liabilities 2 $ 32,170

Note 12 - Homebuilding Accrue_2

Note 12 - Homebuilding Accrued and Other Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2019 2018 (Dollars in thousands) Accrued compensation and related expenses $ 45,003 $ 39,459 Customer and escrow deposits 39,001 34,463 Warranty accrual 31,386 28,262 Lease liability (Note 2 and Note 11) 30,830 - Accrued interest 27,734 27,734 Construction defect claim reserves 8,196 8,464 Land development and home construction accruals 9,750 8,683 Other accrued liabilities 54,040 49,182 Total accrued and other liabilities $ 245,940 $ 196,247
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	December 31, 2019 2018 (Dollars in thousands) Insurance reserves $ 52,219 $ 46,844 Accounts payable and other accrued liabilities 16,310 11,699 Total accounts payable and accrued liabilities $ 68,529 $ 58,543

Note 13 - Warranty Accrual (Tab

Note 13 - Warranty Accrual (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Balance at beginning of period $ 28,262 $ 21,909 $ 20,678 Expense provisions 15,525 14,513 10,769 Cash payments (12,466 ) (11,573 ) (10,879 ) Adjustments 65 3,413 1,341 Balance at end of period $ 31,386 $ 28,262 $ 21,909

Note 14 - Insurance and Const_2

Note 14 - Insurance and Construction Defect Claim Reserves (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	December 31, 2019 2018 2017 (Dollars in thousands) Balance at beginning of period $ 55,308 $ 52,686 $ 50,954 Expense provisions 12,650 11,213 9,697 Cash payments, net of recoveries (8,493 ) (8,591 ) (9,215 ) Adjustments 950 - 1,250 Balance at end of period $ 60,415 $ 55,308 $ 52,686

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Current tax provision: Federal $ 50,870 $ 47,547 $ 41,737 State 2,137 1,798 1,374 Total current 53,007 49,345 43,111 Deferred tax provision: Federal 5,175 (2,755 ) 37,398 State 8,495 6,484 7,388 Total deferred 13,670 3,729 44,786 Provision for income taxes $ 66,677 $ 53,074 $ 87,897
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Tax expense computed at federal statutory rate $ 64,048 $ 55,409 $ 80,406 State income tax expense, net of federal benefit 9,810 9,661 6,432 Other permanent differences 265 (31 ) (748 ) Domestic manufacturing deduction - - (5,387 ) Limitation on executive compensation 4,463 2,912 - Rate change effect of tax method changes - (5,661 ) - Tax expense (benefit) related to an increase (decrease) in unrecognized tax benefits (1,571 ) 4,680 75 Stock based compensation (windfall)/shortfall (2,828 ) 415 2,832 Federal energy credits (7,649 ) (12,446 ) - Rate changes 190 (78 ) 10,018 Change in valuation allowance 121 (885 ) (8,978 ) Other (172 ) (902 ) 3,247 Provision for income taxes $ 66,677 $ 53,074 $ 87,897 Effective tax rate 21.9 % 20.1 % 38.3 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2019 2018 (Dollars in thousands) Deferred tax assets: State net operating loss carryforwards $ 10,123 $ 18,045 Stock-based compensation expense 10,493 11,767 Warranty, litigation and other reserves 12,784 12,844 Accrued compensation 2,592 2,622 Asset impairment charges 3,526 5,848 Inventory, additional costs capitalized for tax purposes 7,228 5,863 Other, net 910 1,680 Total deferred tax assets 47,656 58,669 Valuation allowance (6,498 ) (7,598 ) Total deferred tax assets, net of valuation allowance 41,158 51,071 Deferred tax liabilities: Property, equipment and other assets 9,551 8,440 Deferral of profit on home sales 3,359 1,817 Unrealized gain on marketable securities 2,716 375 Other, net 3,764 3,261 Total deferred tax liabilities 19,390 13,893 Net deferred tax asset $ 21,768 $ 37,178
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Year Ended December 31, 2019 2018 2017 (Dollars in thousands) Gross unrecognized tax benefits at beginning of year $ 8,579 $ 547 $ 577 Increases related to prior year tax positions 75 8,190 94 Decreases related to prior year tax positions - - - Lapse of applicable statute of limitations (139 ) (158 ) (124 ) Gross unrecognized tax benefits at end of year $ 8,515 $ 8,579 $ 547

Note 17 - Lines of Credit and_2

Note 17 - Lines of Credit and Total Debt Obligations (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2019 2018 (Dollars in thousands) $250 Million 5.625% senior notes due February 2020, net $ 249,909 $ 248,850 $250 Million 5.500% senior notes due January 2024, net 249,005 248,789 $500 Million 6.000% senior notes due January 2043, net 490,508 490,328 Total $ 989,422 $ 987,967

Note 19 - Concentration of Th_2

Note 19 - Concentration of Third-party Mortgage Purchasers (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year Ended December 31, 2019 2018 2017 PennyMac Loan Services, LLC 41 % 23 % 17 % Wells Fargo Funding, Inc. 16 % 9 % 13 % Fannie Mae 7 % 11 % 11 % U.S. Bancorp 6 % 11 % 9 % SunTrust Mortgage, Inc. 4 % 11 % 8 % Ginnie Mae 4 % 5 % 11 % Flagstar Bancorp, Inc. 3 % 11 % 6 %

Note 22 - Stock Based Compens_2

Note 22 - Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Share-based Payment Arrangement, Activity [Table Text Block]	Year Ended December 31, 2019 2018 2017 Expected lives of options (years) 9.5 9.1 N/A Expected volatility 29.9 % 29.7 % N/A Risk free interest rate 1.7 % 3.0 % N/A Dividend yield rate 3.4 % 3.9 % N/A
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Year Ended December 31, 2019 2018 2017 Weighted- Weighted- Weighted- Average Average Average Number of Exercise Number of Exercise Number of Exercise Shares Price Shares Price Shares Price Outstanding Stock Option Activity Outstanding, beginning of year 5,974,433 $ 23.50 6,094,033 $ 23.35 7,175,816 $ 24.20 Granted 412,247 35.55 486,000 28.45 - N/A Exercised (987,496 ) 25.65 (393,571 ) 25.06 (411,249 ) 23.00 Forfeited - N/A (9,950 ) 20.46 - N/A Cancelled - N/A (202,079 ) 27.94 (670,534 ) 32.63 Outstanding, end of year 5,399,184 $ 24.00 5,974,433 $ 23.50 6,094,033 $ 23.35
Schedule of Nonvested Share Activity [Table Text Block]	Year Ended December 31, 2019 2018 2017 Weighted- Weighted- Weighted- Number of Average Number of Average Number of Average Shares Fair Value Shares Fair Value Shares Fair Value Unvested Stock Option Activity Outstanding, beginning of year 483,542 $ 6.26 135,481 $ 5.76 2,670,744 $ 4.72 Granted 412,247 7.88 486,000 6.32 - N/A Vested (195,541 ) 5.93 (127,989 ) 6.18 (2,535,263 ) 4.66 Forfeited - N/A (9,950 ) 3.90 - N/A Unvested, end of year 700,248 $ 7.20 483,542 $ 6.26 135,481 $ 5.76
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]	Exercisable or expected to vest Number outstanding 5,397,398 Weighted-average exercise price $ 24.00 Aggregate intrinsic value (in thousands) $ 76,431 Weighted-average remaining contractual term (years) 4.75 Exercisable Number outstanding 4,698,936 Weighted-average exercise price $ 22.75 Aggregate intrinsic value (in thousands) $ 72,411 Weighted-average remaining contractual term (years) 4.12
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Options Outstanding Options Exercisable Weighted- Weighted- Average Average Remaining Weighted- Remaining Weighted- Contractual Average Contractual Average Number Life (in Exercise Number Life (in Exercise Range of Exercise Price Outstanding years) Price Outstanding years) Price $ 15.01 - $ 20.00 1,269,604 2.26 $ 19.89 1,260,418 2.24 $ 19.90 $ 20.01 - $ 25.00 2,894,522 4.97 23.17 2,891,460 4.96 23.17 $ 25.01 - $ 30.00 804,440 5.58 27.40 516,440 4.01 26.78 $ 30.01 - $ 35.00 30,618 3.08 32.37 30,618 3.08 32.37 $ 35.01 - $ 40.00 400,000 9.59 35.55 - NA N/A Total 5,399,184 4.75 $ 24.00 4,698,936 4.12 $ 22.75
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Year Ended December 31, 2019 2018 2017 Weighted- Weighted- Weighted- Average Average Average Number of Grant Date Number of Grant Date Number of Grant Date Shares Fair Value Shares Fair Value Shares Fair Value Unvested, beginning of year 337,909 $ 25.61 317,390 $ 23.89 221,133 $ 19.85 Granted 167,676 33.85 143,214 29.51 160,620 27.42 Vested (156,235 ) 27.24 (117,404 ) 25.45 (57,375 ) 22.57 Forfeited (5,292 ) 30.56 (5,292 ) 28.84 (6,988 ) 21.81 Unvested, end of year 344,058 $ 30.54 337,909 $ 25.61 317,390 $ 23.89
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Threshold Goal Target Goal Maximum Goal 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* Maximum Remaining Expense to be Recognized* July 25, 2016 July 1, 2016 to June 30, 2019 July 1, 2015 to June 30, 2016 $1.975 billion 137,781 $2.074 billion 275,562 $2.173 billion 551,124 $2.370 billion $ 19.66 $ 10,834 $ - June 20, 2017 April 1, 2017 to March 31, 2020 April 1, 2016 to March 31, 2017 $2.426 billion 144,342 $2.547 billion 288,684 $2.669 billion 577,368 $2.911 billion $ 27.83 $ 16,070 $ 1,446 May 23, 2018 April 1, 2018 to March 31, 2021 April 1, 2017 to March 31, 2018 $2.543 billion 145,800 $2.670 billion 291,600 $2.797 billion 583,200 $3.052 billion $ 25.57 $ 14,915 $ 8,623 August 5, 2019 January 1, 2019 to December 31, 2021 January 1, 2018 to December 31, 2018 $2.982 billion 135,000 $3.131 billion 270,000 $3.280 billion 540,000 $3.578 billion $ 32.60 $ 17,604 $ 17,604

Note 23 - Results of Quarterl_2

Note 23 - Results of Quarterly Operations (Unaudited) (Restated for Stock Dividends) (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Quarterly Financial Information [Table Text Block]	Quarter First Second Third Fourth (Dollars in thousands, except per share amounts) 2019 Total revenue $ 664,682 $ 751,441 $ 772,662 $ 1,104,468 Home sales revenue $ 647,278 $ 732,844 $ 750,274 $ 1,074,852 Asset impairments $ (610 ) $ - $ - $ (325 ) Gross margin from home sales (including impairments) 18.9 % 19.5 % 18.8 % 18.5 % Homebuilding selling, general and administrative expenses $ 82,261 $ 82,712 $ 92,716 $ 105,101 Income before income taxes $ 55,606 $ 74,331 $ 62,806 $ 112,246 Net income $ 40,550 $ 54,593 $ 50,580 $ 92,589 Earnings per share: Basic $ 0.66 $ 0.88 $ 0.81 $ 1.48 Diluted $ 0.64 $ 0.86 $ 0.79 $ 1.42 2018 Total revenue $ 626,723 $ 770,980 $ 785,638 $ 881,875 Home sales revenue $ 607,688 $ 749,608 $ 766,027 $ 858,488 Asset impairments $ (550 ) $ (200 ) $ (11,098 ) $ (10,002 ) Gross margin from home sales (including impairments) 18.2 % 19.1 % 17.7 % 18.1 % Homebuilding selling, general and administrative expenses $ 71,341 $ 81,571 $ 83,523 $ 93,366 Income before income taxes $ 50,532 $ 76,616 $ 67,420 $ 69,286 Net income $ 38,764 $ 63,899 $ 53,392 $ 54,725 Earnings per share: Basic $ 0.64 $ 1.05 $ 0.87 $ 0.90 Diluted $ 0.63 $ 1.03 $ 0.86 $ 0.88

Note 25 - Supplemental Guaran_2

Note 25 - Supplemental Guarantor Information (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Tables
Condensed Balance Sheet [Table Text Block]	December 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC Dollars in thousands ASSETS Homebuilding: Cash and cash equivalents $ 418,822 $ 5,364 $ - $ - $ 424,186 Marketable securities - - - - - Restricted cash - 14,279 - - 14,279 Trade and other receivables 624 65,205 - - 65,829 Inventories: Housing completed or under construction - 1,036,191 - - 1,036,191 Land and land under development - 1,330,384 - - 1,330,384 Total inventories - 2,366,575 - - 2,366,575 Intercompany receivables 1,936,075 6,370 - (1,942,445 ) - Investment in subsidiaries 488,993 - - (488,993 ) - Property and equipment, net 23,192 37,222 - - 60,414 Deferred tax assets, net 22,508 - - (740 ) 21,768 Other assets 34,728 43,630 - - 78,358 Total Homebuilding Assets 2,924,942 2,538,645 - (2,432,178 ) 3,031,409 Financial Services: Cash and cash equivalents - - 35,747 - 35,747 Marketable securities - - 56,747 - 56,747 Intercompany receivables - - 47,753 (47,753 ) - Mortgage loans held-for-sale, net - - 197,021 - 197,021 Other assets - - 16,692 740 17,432 Total Financial Services Assets - - 353,960 (47,013 ) 306,947 Total Assets $ 2,924,942 $ 2,538,645 $ 353,960 $ (2,479,191 ) $ 3,338,356 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 289 $ 87,075 $ - $ - $ 87,364 Accrued and other liabilities 84,088 156,652 - 5,200 245,940 Advances and notes payable to parent and subsidiaries 53,658 1,912,969 - (1,966,627 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 989,422 - - - 989,422 Total Homebuilding Liabilities 1,142,457 2,156,696 - (1,961,427 ) 1,337,726 Financial Services: Accounts payable and accrued liabilities - - 73,729 (5,200 ) 68,529 Advances and notes payable to parent and subsidiaries - - 23,571 (23,571 ) - Mortgage repurchase facility - - 149,616 - 149,616 Total Financial Services Liabilities - - 246,916 (28,771 ) 218,145 Total Liabilities 1,142,457 2,156,696 246,916 (1,990,198 ) 1,555,871 Equity: Total Stockholders' Equity 1,782,485 381,949 107,044 (488,993 ) 1,782,485 Total Liabilities and Stockholders' Equity $ 2,924,942 $ 2,538,645 $ 353,960 $ (2,479,191 ) $ 3,338,356 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 Marketable securities - - - - - 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 Other assets, net 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, net - - 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 and other 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]	Year Ended December 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 3,205,248 $ - $ - $ 3,205,248 Cost of Sales - (2,600,196 ) - - (2,600,196 ) Inventory impairments - (935 ) - - (935 ) Gross margin - 604,117 - - 604,117 Selling, general, and administrative expenses (71,720 ) (290,507 ) - (563 ) (362,790 ) Equity income of subsidiaries 286,606 - - (286,606 ) - Interest and other income 8,996 1,242 - (1,168 ) 9,070 Other expense 30 (5,665 ) - - (5,635 ) Homebuilding pretax income (loss) 223,912 309,187 - (288,337 ) 244,762 Financial Services: Financial services pretax income - - 58,496 1,731 60,227 Income before income taxes 223,912 309,187 58,496 (286,606 ) 304,989 Provision for income taxes 14,400 (67,595 ) (13,482 ) - (66,677 ) Net income $ 238,312 $ 241,592 $ 45,014 $ (286,606 ) $ 238,312 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 238,312 $ 241,592 $ 45,014 $ (286,606 ) $ 238,312 Year Ended December 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 2,981,811 $ - $ - $ 2,981,811 Cost of Sales - (2,415,139 ) - - (2,415,139 ) Inventory impairments - (21,850 ) - - (21,850 ) Gross margin - 544,822 - - 544,822 Selling, general, and administrative expenses (64,824 ) (264,475 ) - (502 ) (329,801 ) Equity income of subsidiaries 254,723 - - (254,723 ) - Interest and other income 7,843 1,029 4 (1,158 ) 7,718 Other expense 30 (5,275 ) - - (5,245 ) Homebuilding pretax income (loss) 197,772 276,101 4 (256,383 ) 217,494 Financial Services: Financial services pretax income - - 44,700 1,660 46,360 Income before income taxes 197,772 276,101 44,704 (254,723 ) 263,854 Provision for income taxes 13,008 (55,539 ) (10,543 ) - (53,074 ) Net income $ 210,780 $ 220,562 $ 34,161 $ (254,723 ) $ 210,780 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 210,780 $ 220,562 $ 34,161 $ (254,723 ) $ 210,780 Year Ended December 31, 2017 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Homebuilding: Revenues $ - $ 2,503,242 $ - $ - $ 2,503,242 Cost of Sales - (2,078,371 ) 98 - (2,078,273 ) Inventory impairments - (10,010 ) - - (10,010 ) Gross margin - 414,861 98 - 414,959 Selling, general, and administrative expenses (52,252 ) (234,430 ) - (806 ) (287,488 ) Equity income of subsidiaries 144,190 - - (144,190 ) - Interest and other income 59,042 2,834 6 (546 ) 61,336 Other expense (30 ) (2,838 ) - - (2,868 ) Homebuilding pretax income (loss) 150,950 180,427 104 (145,542 ) 185,939 Financial Services: Financial services pretax income - - 42,441 1,352 43,793 Income before income taxes 150,950 180,427 42,545 (144,190 ) 229,732 Provision for income taxes (9,115 ) (64,051 ) (14,731 ) - (87,897 ) Net income $ 141,835 $ 116,376 $ 27,814 $ (144,190 ) $ 141,835 Other comprehensive income related to available-for-sale securities, net of tax (18,079 ) - 3,382 (3,382 ) (18,079 ) Comprehensive income $ 123,756 $ 116,376 $ 31,196 $ (147,572 ) $ 123,756
Condensed Cash Flow Statement [Table Text Block]	Year Ended December 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (9,997 ) $ 74,134 $ (6,304 ) $ - $ 57,833 Net cash provided by (used in) investing activities 76,468 (23,833 ) (4,149 ) (77,271 ) (28,785 ) Financing activities: Payments from (advances to) subsidiaries - (41,618 ) (35,653 ) 77,271 - Advances on mortgage repurchase facility, net - - 32,801 - 32,801 Dividend payments (73,117 ) - - - (73,117 ) Issuance of shares under stock-based compensation programs, net 15,341 - - - 15,341 Net cash provided by (used in) financing activities (57,776 ) (41,618 ) (2,852 ) 77,271 (24,975 ) Net increase (decrease) in cash and cash equivalents 8,695 8,683 (13,305 ) - 4,073 Cash and cash equivalents: Beginning of period 410,127 10,960 49,052 - 470,139 End of period $ 418,822 $ 19,643 $ 35,747 $ - $ 474,212 Year Ended December 31, 2018 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ 10,925 $ (47,132 ) $ 28,301 $ - $ (7,906 ) Net cash provided by (used in) investing activities (8,632 ) (25,415 ) (2,639 ) 56,900 20,214 Financing activities: Payments from (advances to) subsidiaries - 70,456 (13,556 ) (56,900 ) - Advances on mortgage repurchase facility, net - - 4,475 - 4,475 Dividend payments (67,718 ) - - - (67,718 ) Payments of deferred financing costs (3,026 ) - - - (3,026 ) Issuance of shares under stock-based compensation programs, net 9,860 - - - 9,860 Net cash provided by (used in) financing activities (60,884 ) 70,456 (9,081 ) (56,900 ) (56,409 ) Net increase (decrease) in cash and cash equivalents (58,591 ) (2,091 ) 16,581 - (44,101 ) Cash and cash equivalents: Beginning of period 468,718 13,051 32,471 - 514,240 End of period $ 410,127 $ 10,960 $ 49,052 $ - $ 470,139 Year Ended December 31, 2017 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by operating activities $ 30,815 $ 8,991 $ 30,700 $ - $ 70,506 Net cash provided by (used in) investing activities 80,822 (454 ) (253 ) (22,325 ) 57,790 Financing activities: Payments from (advances to) subsidiaries - (2,672 ) (19,653 ) 22,325 - Advances on mortgage repurchase facility, net - - (2,145 ) - (2,145 ) Proceeds from the issuance of senior notes 146,463 - - - 146,463 Dividend payments (51,897 ) - - - (51,897 ) Excess tax benefit from share-based awards (2,665 ) - - - (2,665 ) Issuance of shares under stock-based compensation programs, net 9,501 - - - 9,501 Net cash provided by (used in) financing activities 101,402 (2,672 ) (21,798 ) 22,325 99,257 Net increase in cash and cash equivalents 213,039 5,865 8,649 - 227,553 Cash and cash equivalents: Beginning of period 255,679 7,186 23,822 - 286,687 End of period $ 468,718 $ 13,051 $ 32,471 $ - $ 514,240

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnest Money Deposits	$ 14,300	$ 6,400
Contract with Customer, Asset, after Allowance for Credit Loss, Total	46,600	34,800
Depreciation, Depletion and Amortization, Total	22,800	20,500	$ 4,500
Goodwill, Impairment Loss	0	0
Derivative, Notional Amount	108,500	65,500
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	58,500	17,800
Derivative, Gain (Loss) on Derivative, Net, Total	300	400	(1,700)
Gain (Loss) on Sale of Mortgage Loans	55,300	41,600	$ 39,000
Interest Rate Lock Commitments [Member]
Derivative, Notional Amount	$ 104,500	$ 101,100
Derivative, Average Fixed Interest Rate	3.72%	4.78%
Minimum [Member]
Property, Plant and Equipment, Useful Life	2 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	29 years

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Cost and Carrying Value of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cost	$ 124,249	$ 120,298
Accumulated Depreciation and Amortization	(63,835)	(62,131)
Property and equipment, net	60,414	58,167
Sales Facilities [Member]
Cost	60,964	59,374
Accumulated Depreciation and Amortization	(25,802)	(26,920)
Property and equipment, net	35,162	32,454
Airplane [Member]
Cost	31,230	31,013
Accumulated Depreciation and Amortization	(10,145)	(9,488)
Property and equipment, net	21,085	21,525
Computer, Software and Equipment [Member]
Cost	22,660	21,507
Accumulated Depreciation and Amortization	(20,730)	(19,374)
Property and equipment, net	1,930	2,133
Leasehold Improvements [Member]
Cost	7,339	6,827
Accumulated Depreciation and Amortization	(5,817)	(5,188)
Property and equipment, net	1,522	1,639
Other Capitalized Property Plant and Equipment [Member]
Cost	2,056	1,577
Accumulated Depreciation and Amortization	(1,341)	(1,161)
Property and equipment, net	$ 715	$ 416

Note 2 - Recently Issued Acco_3

Note 2 - Recently Issued Accounting Standards (Details Textual) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2019		Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2020	Jan. 01, 2019
Operating Lease, Right-of-Use Asset															$ 33,500
Operating Lease, Liability, Total	$ 32,170	[1]								$ 32,170	[1]				34,300
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total	112,246		$ 62,806	$ 74,331	$ 55,606	$ 69,286	$ 67,420	$ 76,616	$ 50,532	304,989		$ 263,854	$ 229,732
Cumulative Effect of New Accounting Principle in Period of Adoption						(67)						(67)	1,774
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption						(67)						(67)	5,766
Homebuilding Segment [Member]
Operating Lease, Right-of-Use Asset	30,277					0				30,277		0
Operating Lease, Liability, Total	$ 30,830					$ 0				30,830		0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total										244,762		$ 217,494	$ 185,939
Accounting Standards Update 2016-02 [Member] | Homebuilding Segment [Member]
Operating Lease, Right-of-Use Asset															34,200
Operating Lease, Liability, Total															$ 34,300
Accounting Standards Update 2016-01 [Member]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total										$ (1,600)
Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member] | Subsequent Event [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption														$ 100
[1]	Homebuilding and financial services operating lease liabilities of $30.8 million and $1.4 million, respectively, are included as a component of accrued and other liabilities and accrued liabilities, respectively, in the homebuilding and financial services section of our consolidated balance sheet at December 31, 2019.

Note 2 - Recently Issued Acco_4

Note 2 - Recently Issued Accounting Standards - Cumulative Effect of the Changes Made to Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Property and equipment, net	$ 60,414	$ 58,167
Deferred tax asset, net	21,768	37,178
Retained earnings	433,126	406,992	$ 263,930	$ 258,164
Accumulated other comprehensive income			0	3,992
Accounting Standards Update 2018-02 [Member]
Retained earnings			(860)
Accumulated other comprehensive income			860
Accounting Standards Update 2016-01 [Member]
Retained earnings			4,852
Accumulated other comprehensive income			(4,852)
Accounting Standards Update 2014-09 [Member]
Retained earnings			1,774
Accumulated other comprehensive income			0
Homebuilding Segment [Member]
Housing completed or under construction	1,036,191	952,436	944,091	936,685
Property and equipment, net	60,414	58,167	51,709	26,439
Prepaid and other assets	78,358	45,794	41,439	75,666
Deferred tax asset, net	21,768	37,178	40,907	41,480
Other assets	1,288	995
Homebuilding Segment [Member] | Accounting Standards Update 2018-02 [Member]
Housing completed or under construction			0
Property and equipment, net			0
Prepaid and other assets			0
Deferred tax asset, net			0
Homebuilding Segment [Member] | Accounting Standards Update 2016-01 [Member]
Housing completed or under construction			0
Property and equipment, net			0
Prepaid and other assets			0
Deferred tax asset, net			0
Homebuilding Segment [Member] | Accounting Standards Update 2014-09 [Member]
Housing completed or under construction			7,406
Property and equipment, net			25,270
Prepaid and other assets			(34,227)
Deferred tax asset, net			(573)
Financial Services Segment [Member]
Other assets	$ 17,432	$ 13,733	13,515	$ 9,617
Financial Services Segment [Member] | Accounting Standards Update 2018-02 [Member]
Other assets			0
Financial Services Segment [Member] | Accounting Standards Update 2016-01 [Member]
Other assets			0
Financial Services Segment [Member] | Accounting Standards Update 2014-09 [Member]
Other assets			$ 3,898

Note 3 - Supplemental Income _3

Note 3 - Supplemental Income Statement and Cash Flow Disclosure - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net realized gains from the sales of marketable securities	$ 0	$ 0	$ 18,122
Realized gain from the sale of metropolitan district bond securities (related party)	0	0	35,847
Homebuilding Segment [Member]
Interest income	7,797	6,376	3,896
Dividend income	0	0	1,160
Net realized gains from the sales of marketable securities	0	0	17,775
Realized gain from the sale of metropolitan district bond securities (related party)	0	0	35,847
Other income	1,273	1,342	2,658
Interest and other income	9,070	7,718	61,336
Financial Services Segment [Member]
Interest income	4,404	4,031	2,924
Dividend income	1,022	869	1,031
Net realized gains from the sales of marketable securities	11,797	(3,745)	0
Interest and other income	$ 17,223	$ 1,155	$ 3,955

Note 3 - Supplemental Income _4

Note 3 - Supplemental Income Statement and Cash Flow Disclosure - Supplemental Disclosures of Cash Flow Information and Non-cash Investing and Financing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest, net of interest capitalized	$ 685	$ 726	$ 637
Income taxes	$ 56,476	$ 30,157	$ 49,830

Note 4 - Segment Reporting (Det

Note 4 - Segment Reporting (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017USD ($)
Other Segments [Member]
Number of Reportable Segments	1
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Realized Investment Gains (Losses), Total		$ 53.6

Note 4 - Segment Reporting - Re

Note 4 - Segment Reporting - Reconciliation of Revenue From Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues	$ 1,104,468	$ 772,662	$ 751,441	$ 664,682	$ 881,875	$ 785,638	$ 770,980	$ 626,723	$ 3,293,253	$ 3,065,216	$ 2,577,614
Homebuilding Segment [Member]
Revenues									3,205,248	2,981,811	2,503,242
Homebuilding Segment [Member] | Reportable Segment, West [Member]
Revenues									1,771,060	1,567,141	1,316,069
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member]
Revenues									1,131,568	1,080,475	805,669
Homebuilding Segment [Member] | Reportable Segment, East [Member]
Revenues									302,620	334,195	381,504
Financial Services Segment [Member]
Revenues									88,005	83,405	74,372
Financial Services Segment [Member] | Mortgage Operations [Member]
Revenues									55,222	53,476	48,841
Financial Services Segment [Member] | Other Financial Services [Member]
Revenues									$ 32,783	$ 29,929	$ 25,531

Note 4 - Segment Reporting - _2

Note 4 - Segment Reporting - Reconciliation of Pretax Operating Income From Segments to Consolidated (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income before income taxes		$ 112,246	$ 62,806	$ 74,331	$ 55,606	$ 69,286	$ 67,420	$ 76,616	$ 50,532	$ 304,989	$ 263,854	$ 229,732
Homebuilding Segment [Member]
Income before income taxes										244,762	217,494	185,939
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, West [Member]
Income before income taxes										163,069	128,829	79,719
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, Mountain [Member]
Income before income taxes										136,313	134,710	86,428
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, East [Member]
Income before income taxes										9,857	12,611	14,418
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Income before income taxes	[1]									(64,477)	(58,656)	5,374
Financial Services Segment [Member]
Income before income taxes										60,227	46,360	43,793
Financial Services Segment [Member] | Operating Segments [Member] | Mortgage Operations [Member]
Income before income taxes										29,312	31,920	28,628
Financial Services Segment [Member] | Operating Segments [Member] | Other Financial Services [Member]
Income before income taxes										$ 30,915	$ 14,440	$ 15,165
[1]	The pretax gain for the year ended December 31, 2017 was driven by $53.6 million in realized gains due to the sale of investments.

Note 4 - Segment Reporting - To

Note 4 - Segment Reporting - Total Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets	$ 3,338,356	$ 3,001,077
Homebuilding Segment [Member]
Assets	3,031,409	2,748,202
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Assets	505,507	484,193
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Operating Segments [Member]
Assets	1,461,645	1,301,374
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Operating Segments [Member]
Assets	869,665	793,150
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Operating Segments [Member]
Assets	194,592	169,485
Financial Services Segment [Member]
Assets	306,947	252,875
Financial Services Segment [Member] | Mortgage Operations [Member] | Operating Segments [Member]
Assets	209,946	159,677
Financial Services Segment [Member] | Other Financial Services [Member] | Operating Segments [Member]
Assets	$ 97,001	$ 93,198

Note 5 - Earnings Per Share (De

Note 5 - Earnings Per Share (Details Textual) - shares shares in Millions	Jan. 28, 2019	Nov. 20, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stock Dividend Rate, Percentage	8.00%	8.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			0.4	0.7	0.8

Note 5 - Earnings Per Share - B

Note 5 - Earnings Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net income	$ 92,589	$ 50,580	$ 54,593	$ 40,550	$ 54,725	$ 53,392	$ 63,899	$ 38,764	$ 238,312	$ 210,780	$ 141,835
Less: distributed earnings allocated to participating securities									(466)	(413)	(257)
Less: undistributed earnings allocated to participating securities									(1,020)	(846)	(441)
Net income attributable to common stockholders (numerator for basic earnings per share)									236,826	209,521	141,137
Add back: undistributed earnings allocated to participating securities									1,020	846	441
Less: undistributed earnings reallocated to participating securities									(992)	(833)	(431)
Numerator for diluted earnings per share under two class method									$ 236,854	$ 209,534	$ 141,147
Weighted-average common shares outstanding (in shares)									61,616,988	60,571,123	60,117,021
Denominator for diluted earnings per share under two class method (in shares)									63,702,666	61,830,761	61,453,578
Basic Earnings Per Common Share (in dollars per share)	$ 1.48	$ 0.81	$ 0.88	$ 0.66	$ 0.90	$ 0.87	$ 1.05	$ 0.64	$ 3.84	$ 3.46	$ 2.35
Diluted Earnings Per Common Share (in dollars per share)	$ 1.42	$ 0.79	$ 0.86	$ 0.64	$ 0.88	$ 0.86	$ 1.03	$ 0.63	$ 3.72	$ 3.39	$ 2.30
Share-based Payment Arrangement, Option [Member]
Add: dilutive effect of share-based compensation (in shares)									1,737,945	984,076	1,336,557
Performance Shares [Member]
Add: dilutive effect of share-based compensation (in shares)									347,733	275,562	0

Note 6 - Accumulated Other Co_3

Note 6 - Accumulated Other Comprehensive Income (Details Textual) $ in Millions	3 Months Ended
	Sep. 30, 2017USD ($)
Proceeds from Sale of Debt Securities, Available-for-sale	$ 44.3
Debt Securities, Available-for-sale, Amortized Cost, Total	8.5
Debt Securities, Available-for-sale, Realized Gain	$ 35.8

Note 6 - Accumulated Other Co_4

Note 6 - Accumulated Other Comprehensive Income - Changes in AOCI (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance		$ 1,576,000	$ 1,407,287	$ 1,320,070
Balance		1,782,485	1,576,000	1,407,287
Total ending AOCI		1,576,000	1,407,287	1,407,287
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Equity Securities [Member]
Balance	[1]	0	3,992	7,730
Adoption of accounting standards (Note 2)	[1]	0	(3,992)	0
Other comprehensive income (loss) before reclassifications	[1]	0	0	7,320
Amounts reclassified from AOCI	[1],[2]	0	0	(11,058)
Balance	[1]	0	0	3,992
Total ending AOCI	[1]	0	3,992	7,730
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Metropolitan District Bond Securities [Member]
Balance	[1]	0	0	14,341
Other comprehensive income (loss) before reclassifications	[1]	0	0	7,884
Amounts reclassified from AOCI	[1],[2]	0	0	(22,225)
Balance	[1]	0	0	0
Total ending AOCI	[1]	0	0	14,341
AOCI Attributable to Parent [Member]
Balance		0	3,992	22,071
Balance		0	0	3,992
Total ending AOCI		$ 0	$ 0	$ 3,992
[1]	All amounts net-of-tax.
[2]	See separate table below for details about these reclassifications.

Note 6 - Accumulated Other Co_5

Note 6 - Accumulated Other Comprehensive Income - Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Homebuilding: Net realized gains (losses) from the sales of marketable securities									$ 0	$ 0	$ 18,122
Homebuilding: Realized gain from the sale of metropolitan district bond securities (related party)									0	0	35,847
Other-than-temporary impairment of marketable securities									0	0	(300)
Income before income taxes	$ 112,246	$ 62,806	$ 74,331	$ 55,606	$ 69,286	$ 67,420	$ 76,616	$ 50,532	304,989	263,854	229,732
Provision for income taxes									(66,677)	(53,074)	(87,897)
Net income	$ 92,589	$ 50,580	$ 54,593	$ 40,550	$ 54,725	$ 53,392	$ 63,899	$ 38,764	238,312	210,780	141,835
Homebuilding Segment [Member]
Homebuilding: Net realized gains (losses) from the sales of marketable securities									0	0	17,775
Homebuilding: Realized gain from the sale of metropolitan district bond securities (related party)									0	0	35,847
Income before income taxes									244,762	217,494	185,939
Financial Services Segment [Member]
Homebuilding: Net realized gains (losses) from the sales of marketable securities									11,797	(3,745)	0
Interest and other income									17,223	1,155	3,955
Income before income taxes									60,227	46,360	43,793
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Income before income taxes									0	0	53,683
Provision for income taxes									0	0	(20,400)
Net income									0	0	33,283
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Homebuilding Segment [Member]
Homebuilding: Net realized gains (losses) from the sales of marketable securities									0	0	17,775
Homebuilding: Realized gain from the sale of metropolitan district bond securities (related party)									0	0	35,847
Other-than-temporary impairment of marketable securities									0	0	(51)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Financial Services Segment [Member]
Other-than-temporary impairment of marketable securities									0	0	(235)
Interest and other income									$ 0	$ 0	$ 347

Note 7 - Fair Value Measureme_3

Note 7 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings, Total	$ 0	$ 0	$ 300
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	58,500	17,800
Loans Receivable Held-for-sale, Mortgage, Unpaid Principal Balance	$ 191,300	143,900
Minimum [Member]
Short Term Borrowings Maturity Period	30 days
Fair Value, Inputs, Level 2 [Member] | Under Commitment to Sell [Member]
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance	$ 136,800	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	$ 60,200	$ 18,500

Note 7 - Fair Value Measureme_4

Note 7 - Fair Value Measurements - Fair Value Methods Used for Measuring Fair Values of Financial Instruments on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Inputs, Level 1 [Member]
Equity securities	$ 56,747	$ 40,879
Fair Value, Inputs, Level 2 [Member]
Mortgage loans held-for-sale, net	197,021	149,211
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Debt securities (available-for-sale)	$ 0	$ 34,866

Note 7 - Fair Value Measureme_5

Note 7 - Fair Value Measurements - Amortized Cost and Estimated Fair Value of Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2017
Net Amortized Cost		$ 8,500
Financial Services Segment [Member] | Cash and Cash Equivalents [Member]
Amortized Cost	$ 34,866
OTTI	0
Net Amortized Cost	34,866
Fair Value	$ 34,866

Note 7 - Fair Value Measureme_6

Note 7 - Fair Value Measurements - Reconciles Net Loss to Unrealized Loss on Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net gain (loss) recognized during the period on equity securities	$ 11,797	$ (3,745)	$ 0
Less: Net gain (loss) recognized during the period on equity securities sold during the period	647	(534)
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$ 11,150	$ (3,211)

Note 7 - Fair Value Measureme_7

Note 7 - Fair Value Measurements - Estimated Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Reported Value Measurement [Member]
Senior Notes, Carrying Amount	$ 989,422	$ 987,967
Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	1,051,025	882,948
Senior Notes 5.625% Due February 2020 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	249,909	248,850
Senior Notes 5.625% Due February 2020 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	250,400	253,413
Senior Notes 5.5% Due January 2024 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	249,005	248,789
Senior Notes 5.5% Due January 2024 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	272,083	242,983
Senior Notes 6% Due January 2043 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	490,508	490,328
Senior Notes 6% Due January 2043 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	$ 528,542	$ 386,552

Note 7 - Fair Value Measureme_8

Note 7 - Fair Value Measurements - Estimated Fair Value of Senior Notes (Details) (Parentheticals) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Senior Notes 5.625% Due February 2020 [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, face amount	$ 250	$ 250
Senior Notes 6% Due January 2043 [Member]
Senior Notes, interest rate	6.00%	6.00%
Senior Notes, face amount	$ 500	$ 500

Note 8 - Inventories (Details T

Note 8 - Inventories (Details Textual) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Inventory Write-down	$ 325	$ 0	$ 0	$ 610	$ 10,002	$ 11,098	$ 200	$ 550	$ 620	$ 4,540	$ 0	$ 4,850	$ 935	$ 21,850	$ 10,010
Reportable Segment, East [Member]
Inventory Write-down													$ 400	$ 1,400
Number of Projects or Properties With Inventory Impairments During Period													2	5
Reportable Segment, Mountain [Member]
Inventory Write-down													$ 400	$ 1,400
Number of Projects or Properties With Inventory Impairments During Period													1	3
Reportable Segment, West [Member]
Inventory Write-down													$ 100	$ 19,100
Number of Projects or Properties With Inventory Impairments During Period													1	7

Note 8 - Inventories - Summary

Note 8 - Inventories - Summary of Inventory (Details) - Homebuilding Segment [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Housing completed or under construction	$ 1,036,191	$ 952,436	$ 944,091	$ 936,685
Land and land under development	1,330,384	1,180,558
Total Inventories	2,366,575	2,132,994
Reportable Segment, West [Member]
Housing completed or under construction	589,040	521,960
Land and land under development	772,189	705,591
Reportable Segment, Mountain [Member]
Housing completed or under construction	358,370	347,738
Land and land under development	468,718	402,657
Reportable Segment, East [Member]
Housing completed or under construction	88,781	82,738
Land and land under development	$ 89,477	$ 72,310

Note 8 - Inventories - Inventor

Note 8 - Inventories - Inventory Impairments (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Impairment Data; Inventory Impairments	$ 325	$ 0	$ 0	$ 610	$ 10,002	$ 11,098	$ 200	$ 550	$ 620	$ 4,540	$ 0	$ 4,850	$ 935	$ 21,850	$ 10,010
Reportable Segment, West [Member]
Impairment Data; Inventory Impairments													100	19,100
Reportable Segment, Mountain [Member]
Impairment Data; Inventory Impairments													400	1,400
Reportable Segment, East [Member]
Impairment Data; Inventory Impairments													400	1,400
Homebuilding Segment [Member]
Impairment Data; Inventory Impairments													935	21,850	10,010
Homebuilding Segment [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments													535	4,504	7,843
Homebuilding Segment [Member] | Land and Land Under Development [Member]
Impairment Data; Inventory Impairments													400	17,346	2,167
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments													100	2,860	4,733
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Land and Land Under Development [Member]
Impairment Data; Inventory Impairments													0	16,198	1,252
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments													0	417	390
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Land and Land Under Development [Member]
Impairment Data; Inventory Impairments													400	958	380
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments													435	1,227	2,720
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Land and Land Under Development [Member]
Impairment Data; Inventory Impairments													$ 0	$ 190	$ 535

Note 8 - Inventories - Fair Val

Note 8 - Inventories - Fair Value of Impaired Inventory (Details) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Impairment Data; Total Subdivisions Tested	14	16	12	16	20	17	17	24	23	33	35	33
Impairment Data; Inventory Impairments	$ 325	$ 0	$ 0	$ 610	$ 10,002	$ 11,098	$ 200	$ 550	$ 620	$ 4,540	$ 0	$ 4,850	$ 935	$ 21,850	$ 10,010
Impairment Data; Fair Value of Inventory After Impairments	$ 3,948	$ 0	$ 0	$ 10,476	$ 32,248	$ 29,874	$ 767	$ 5,223	$ 14,245	$ 52,190	$ 0	$ 19,952
Impairment Data; Number of Subdivisions Impaired	2	0	0	2	10	2	1	2	2	9	0	2
Measurement Input, Discount Rate [Member]
Quantitative Data; Discount Rate							0.12	0.12
Measurement Input, Discount Rate [Member] | Minimum [Member]
Quantitative Data; Discount Rate					0.12	0.12			0.10	0.10		0.12		0.12	0.10
Measurement Input, Discount Rate [Member] | Maximum [Member]
Quantitative Data; Discount Rate					0.18	0.18			0.12	0.15		0.18		0.18	0.12

Note 9 - Capitalization of In_3

Note 9 - Capitalization of Interest - Interest Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Homebuilding interest incurred	$ 63,635	$ 62,631	$ 55,170
Less: Interest capitalized	(63,635)	(62,631)	(55,170)
Homebuilding interest expensed	0	0	0
Interest capitalized, beginning of period	54,845	57,541	68,085
Plus: Interest capitalized during period	63,635	62,631	55,170
Less: Previously capitalized interest included in home and land cost of sales	(63,170)	(65,327)	(65,714)
Interest capitalized, end of period	$ 55,310	$ 54,845	$ 57,541

Note 10 - Homebuilding Prepai_3

Note 10 - Homebuilding Prepaid and Other Assets - Summary of Homebuilding Prepaid and Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Operating lease right-of-use asset (Note 2 and Note 11)		$ 33,500
Homebuilding Segment [Member]
Operating lease right-of-use asset (Note 2 and Note 11)	$ 30,277		$ 0
Land option deposits	27,361		23,805
Prepaid expenses	7,294		7,324
Goodwill	6,008		6,008
Deferred debt issuance costs on revolving credit facility, net	6,130		7,662
Other	1,288		995
Total	$ 78,358		$ 45,794	$ 41,439	$ 75,666

Note 11 - Leases (Details Textu

Note 11 - Leases (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Operating Lease, Expense			$ 7,400	$ 7,100
Operating Lease, Right-of-Use Asset					$ 33,500
Operating Lease, Liability, Total	$ 32,170	[1]			$ 34,300
Lessee, Operating Lease, Lease Not yet Commenced, Binding Lease Payments	3,700
Homebuilding Segment [Member]
Operating Lease, Right-of-Use Asset	30,277		0
Operating Lease, Liability, Total	30,830		$ 0
Homebuilding Segment [Member] | Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability, Total	30,800
Financial Services Segment [Member] | Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability, Total	$ 1,400
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
[1]	Homebuilding and financial services operating lease liabilities of $30.8 million and $1.4 million, respectively, are included as a component of accrued and other liabilities and accrued liabilities, respectively, in the homebuilding and financial services section of our consolidated balance sheet at December 31, 2019.

Note 11 - Leases - Components o

Note 11 - Leases - Components of Operating Lease Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Operating lease cost	$ 7,690	[1]
Sublease income (Note 16)	(150)
Net lease cost	$ 7,540
[1]	Includes variable lease costs, which are immaterial.

Note 11 - Leases - Supplemental

Note 11 - Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Operating cash flows from operating leases	$ 7,255
Leased assets obtained in exchange for new operating lease liabilities	$ 3,255

Note 11 - Leases - Weighted Ave

Note 11 - Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2019
Weighted-average remaining lease term (years) (Year)	6 years 1 month 6 days
Weighted-average discount rate	5.50%

Note 11 - Leases - Maturities o

Note 11 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2019		Jan. 01, 2019
2020		$ 6,300
2021		6,705
2022		6,314
2023		5,294
2024		4,873
Thereafter		8,289
Total operating lease payments 1	[1]	37,775
Less: Interest		5,605
Operating Lease, Liability, Total		$ 32,170	[2]	$ 34,300
[1]	Operating lease payments exclude $3.7 million of legally binding lease payments for leases signed but not yet commenced.
[2]	Homebuilding and financial services operating lease liabilities of $30.8 million and $1.4 million, respectively, are included as a component of accrued and other liabilities and accrued liabilities, respectively, in the homebuilding and financial services section of our consolidated balance sheet at December 31, 2019.

Note 12 - Homebuilding Accrue_3

Note 12 - Homebuilding Accrued and Other Liabilities and Financial Services Accounts Payable and Accrued Liabilities - Homebuilding Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Warranty accrual	$ 31,386			$ 28,262	$ 21,909	$ 20,678
Lease liability (Note 2 and Note 11)	32,170	[1]	$ 34,300
Homebuilding Segment [Member]
Accrued compensation and related expenses	45,003			39,459
Customer and escrow deposits	39,001			34,463
Warranty accrual	31,386			28,262
Lease liability (Note 2 and Note 11)	30,830			0
Accrued interest	27,734			27,734
Construction defect claim reserves	8,196			8,464
Land development and home construction accruals	9,750			8,683
Other accrued liabilities	54,040			49,182
Total accrued and other liabilities	$ 245,940			$ 196,247
[1]	Homebuilding and financial services operating lease liabilities of $30.8 million and $1.4 million, respectively, are included as a component of accrued and other liabilities and accrued liabilities, respectively, in the homebuilding and financial services section of our consolidated balance sheet at December 31, 2019.

Note 12 - Homebuilding Accrue_4

Note 12 - Homebuilding Accrued and Other Liabilities and Financial Services Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Insurance reserves	$ 60,415	$ 55,308	$ 52,686	$ 50,954
Financial Services Segment [Member]
Insurance reserves	52,219	46,844
Accounts payable and other accrued liabilities	16,310	11,699
Total accounts payable and accrued liabilities	$ 68,529	$ 58,543

Note 13 - Warranty Accrual (Det

Note 13 - Warranty Accrual (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties, Total	$ 65	$ 3,413	$ 1,341

Note 13 - Warranty Accrual - Wa

Note 13 - Warranty Accrual - Warranty Accrual and Payment Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance at beginning of period	$ 28,262	$ 21,909	$ 20,678
Expense provisions	15,525	14,513	10,769
Cash payments	(12,466)	(11,573)	(10,879)
Adjustments	65	3,413	1,341
Balance at end of period	$ 31,386	$ 28,262	$ 21,909

Note 14 - Insurance and Const_3

Note 14 - Insurance and Construction Defect Claim Reserves (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) in Self Insurance Reserve	$ 950	$ 0	$ 1,250

Note 14 - Insurance and Const_4

Note 14 - Insurance and Construction Defect Claim Reserves - Summary of Insurance and Defect Claim Reserves Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance at beginning of period	$ 55,308	$ 52,686	$ 50,954
Expense provisions	12,650	11,213	9,697
Cash payments, net of recoveries	(8,493)	(8,591)	(9,215)
Adjustments	950	0	1,250
Balance at end of period	$ 60,415	$ 55,308	$ 52,686

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	35.00%
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount		$ (2,828,000)	$ 415,000	$ 2,832,000
Effective Income Tax Rate Reconciliation, Change in Unrecognized Tax Benefits		(1,571,000)	4,680,000	75,000
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 10,000,000
Deferred Tax Assets, Valuation Allowance, Total		6,498,000	7,598,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		(1,100,000)
Liability for Uncertainty in Income Taxes, Current		8,900,000	10,400,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		3,300,000	3,500,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total		(1,500,000)	$ 1,900,000	$ 0
Minimum [Member]
Decrease in Unrecognized Tax Benefits is Reasonably Possible		0
Maximum [Member]
Decrease in Unrecognized Tax Benefits is Reasonably Possible		200,000
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total		$ 0
Open Tax Year		2016 2017 2018 2019
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total		$ 10,100,000
Open Tax Year		2015 2016 2017 2018 2019

Note 15 - Income Taxes - Summar

Note 15 - Income Taxes - Summary of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Federal	$ 50,870	$ 47,547	$ 41,737
State	2,137	1,798	1,374
Total current	53,007	49,345	43,111
Federal	5,175	(2,755)	37,398
State	8,495	6,484	7,388
Total deferred	13,670	3,729	44,786
Provision for income taxes	$ 66,677	$ 53,074	$ 87,897

Note 15 - Income Taxes - Summ_2

Note 15 - Income Taxes - Summary of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tax expense computed at federal statutory rate	$ 64,048	$ 55,409	$ 80,406
State income tax expense, net of federal benefit	9,810	9,661	6,432
Other permanent differences	265	(31)	(748)
Domestic manufacturing deduction	0	0	(5,387)
Limitation on executive compensation	4,463	2,912	0
Rate change effect of tax method changes	0	(5,661)	0
Tax expense (benefit) related to an increase (decrease) in unrecognized tax benefits	(1,571)	4,680	75
Stock based compensation (windfall)/shortfall	(2,828)	415	2,832
Federal energy credits	(7,649)	(12,446)	0
Rate changes	190	(78)	10,018
Change in valuation allowance	121	(885)	(8,978)
Other	(172)	(902)	3,247
Provision for income taxes	$ 66,677	$ 53,074	$ 87,897
Effective tax rate	21.90%	20.10%	38.30%

Note 15 - Income Taxes - Compon

Note 15 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
State net operating loss carryforwards	$ 10,123	$ 18,045
Stock-based compensation expense	10,493	11,767
Warranty, litigation and other reserves	12,784	12,844
Accrued compensation	2,592	2,622
Asset impairment charges	3,526	5,848
Inventory, additional costs capitalized for tax purposes	7,228	5,863
Other, net	910	1,680
Total deferred tax assets	47,656	58,669
Valuation allowance	(6,498)	(7,598)
Total deferred tax assets, net of valuation allowance	41,158	51,071
Property, equipment and other assets	9,551	8,440
Deferral of profit on home sales	3,359	1,817
Unrealized gain on marketable securities	2,716	375
Other, net	3,764	3,261
Total deferred tax liabilities	19,390	13,893
Net deferred tax asset	$ 21,768	$ 37,178

Note 15 - Income Taxes - Liabil

Note 15 - Income Taxes - Liability Associated With Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Gross unrecognized tax benefits at beginning of year	$ 8,579	$ 547	$ 577
Increases related to prior year tax positions	75	8,190	94
Decreases related to prior year tax positions	0	0	0
Lapse of applicable statute of limitations	(139)	(158)	(124)
Gross unrecognized tax benefits at end of year	$ 8,515	$ 8,579	$ 547

Note 16 - Related Party Trans_2

Note 16 - Related Party Transactions (Details Textual) $ in Thousands	Oct. 31, 2026	Nov. 01, 2021	Oct. 31, 2021	Nov. 01, 2016ft²	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2015USD ($)
Cash Contribution Committed to Charitable Foundation					$ 1,000	$ 1,000	$ 3,000
CVentures, Inc. [Member]
Area of Real Estate Property | ft²				5,437
Operating Leases, Yearly Rental Rate Per Rentable Square Foot				26.50
CVentures, Inc. [Member] | Forecast [Member]
Operating Leases, Yearly Rental Rate Per Rentable Square Foot	31.67	29.26	28.68
District [Member]
Bond Receivable, Amount in Exchange of Land Development Improvement								$ 28,600
Investment Income, Interest					$ 0	$ 0	$ 1,700
District [Member] | Capital Appreciation Bonds [Member]
Investment Owned, at Cost								22,500
District [Member] | Subordinate Bond [Member]
Investment Owned, at Cost								$ 1,600

Note 17 - Lines of Credit and_3

Note 17 - Lines of Credit and Total Debt Obligations (Details Textual) - USD ($) $ in Millions	Nov. 01, 2018	Jan. 09, 2020	Dec. 31, 2019	Dec. 24, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 27, 2018	Aug. 09, 2018	Dec. 26, 2017	Sep. 29, 2017
Letters of Credit Outstanding, Amount			$ 98.7
Senior Notes Due January 2030 [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Stated Percentage		3.85%
Debt Instrument, Face Amount		$ 300
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			23.5			$ 27.8
Long-term Line of Credit, Total			15			15
Line of Credit Facility, Remaining Borrowing Capacity			961.5
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				$ 150			$ 130	$ 75	$ 75
Line of Credit Facility, Maximum Increase to Borrowing Capacity								$ 75
Warehouse Agreement Borrowings, Total			$ 149.6			$ 116.8

Note 17 - Lines of Credit and_4

Note 17 - Lines of Credit and Total Debt Obligations - Carrying Amount of Senior Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Senior Notes	$ 989,422	$ 987,967
Senior Notes 5.625% Due February 2020 [Member]
Senior Notes	249,909	248,850
Senior Notes 5.5% Due January 2024 [Member]
Senior Notes	249,005	248,789
Senior Notes 6% Due January 2043 [Member]
Senior Notes	$ 490,508	$ 490,328

Note 17 - Lines of Credit and_5

Note 17 - Lines of Credit and Total Debt Obligations - Carrying Amount of Senior Notes (Details) (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Senior Notes 5.625% Due February 2020 [Member]
Senior Notes, interest rate	5.625%	5.625%
Senior notes, maturity date	Feb. 28, 2020	Feb. 28, 2020
Senior Notes, face amount	$ 250	$ 250
Senior Notes 5.5% Due January 2024 [Member]
Senior Notes, interest rate	5.50%	5.50%
Senior notes, maturity date	Jan. 31, 2024	Jan. 31, 2024
Senior Notes, face amount	$ 250	$ 250
Senior Notes 6% Due January 2043 [Member]
Senior Notes, interest rate	6.00%	6.00%
Senior notes, maturity date	Jan. 31, 2043	Jan. 31, 2043
Senior Notes, face amount	$ 500	$ 500

Note 18 - Commitments and Con_2

Note 18 - Commitments and Contingencies (Details Textual) Pure in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Surety Bonds, Outstanding, Amount	$ 264
Letters of Credit Outstanding, Amount	98.7
Estimated Cost Related to Bonds	136.1
Estimated Cost Related to Letters of Credit	64.7
Estimated Litigation Liability	1.6	$ 1.6
Earnest Money Deposits	$ 14.3	$ 6.4
Right to Acquire Lots Under Options Contract	8,881
Option Contracts [Member]
Letters of Credit Outstanding, Amount	$ 6.2
Earnest Money Deposits	23.2
HomeAmerican [Member]
Letters of Credit Outstanding, Amount	$ 75.2

Note 19 - Concentration of Th_3

Note 19 - Concentration of Third-party Mortgage Purchasers - Percent of Mortgage Loans Sold to Third-party Purchasers (Details) - Customer Concentration Risk [Member] - Mortgage Loans Sold [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
PennyMac Loan Services, LLC [Member]
Percentage of mortgage loans sold to third-party purchasers	41.00%	23.00%	17.00%
Wells Fargo Funding, Inc. [Member]
Percentage of mortgage loans sold to third-party purchasers	16.00%	9.00%	13.00%
Fannie Mae [Member]
Percentage of mortgage loans sold to third-party purchasers	7.00%	11.00%	11.00%
U.S. Bancorp [Member]
Percentage of mortgage loans sold to third-party purchasers	6.00%	11.00%	9.00%
SunTrust Mortgage, Inc. [Member]
Percentage of mortgage loans sold to third-party purchasers	4.00%	11.00%	8.00%
Ginnie Mae [Member]
Percentage of mortgage loans sold to third-party purchasers	4.00%	5.00%	11.00%
Flagstar Bancorp, Inc. [Member]
Percentage of mortgage loans sold to third-party purchasers	3.00%	11.00%	6.00%

Note 20 - Stockholders' Equity

Note 20 - Stockholders' Equity (Details Textual) - $ / shares	Jan. 28, 2019	Nov. 20, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Common Stock, Dividends, Per Share, Cash Paid			$ 1.18	$ 1.11	$ 0.85
Stock Dividend Rate, Percentage	8.00%	8.00%
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			4,000,000
Treasury Stock, Shares, Acquired			0	0	0
Treasury Stock, Shares, Ending Balance			0

Note 21 - Equity Incentive an_2

Note 21 - Equity Incentive and Employee Benefit Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Cost	$ 2.6	$ 2.4	$ 2.1
Equity Incentive Plan 2001 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Common Stock, Capital Shares Reserved for Future Issuance	400,000
Equity Incentive Plan 2011 [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Common Stock, Capital Shares Reserved for Future Issuance	8,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,800,000
Director Stock Option Plan 2001 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Common Stock, Capital Shares Reserved for Future Issuance	26,000
2011 Director Stock Option Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	800,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	500,000
2011 Director Stock Option Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	7 months
2011 Director Stock Option Plan [Member] | Nonqualified Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee	25,000
2011 Director Stock Option Plan [Member] | Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Exercisable Period	6 months
Maximum [Member] | Equity Incentive Plan 2001 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	7 years
Maximum [Member] | Equity Incentive Plan 2001 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years

Note 22 - Stock Based Compens_3

Note 22 - Stock Based Compensation (Details Textual) - USD ($)	12 Months Ended			22 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 23, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	412,247	486,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.88	$ 6.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 8,200,000	$ 1,900,000	$ 2,500,000
Proceeds from Stock Options Exercised	15,341,000	9,860,000	9,501,000
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense	1,500,000	1,200,000	500,000
Share-based Payment Arrangement, Expense, Tax Benefit	0	200,000	200,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 4,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 2 months 12 days
Proceeds from Stock Options Exercised	$ 25,300,000	9,900,000	9,500,000
Share-based Payment Arrangement, Exercise of Option, Tax Benefit	$ 200,000	400,000	1,000,000
Share-based Payment Arrangement, Option [Member] | Equity Incentive Plan 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Restricted Stock [Member]
Share-based Payment Arrangement, Expense	$ 4,800,000	3,600,000	2,600,000
Share-based Payment Arrangement, Expense, Tax Benefit	$ 700,000	800,000	1,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 7 months 6 days
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 4,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested	13,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested	$ 5,300,000	$ 3,200,000	$ 1,400,000
Performance Shares [Member] | Equity Incentive Plan 2011 [Member]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	270,720	0	0
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	$ 10,000,000
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2016 [Member]
Share-based Payment Arrangement, Expense	1,800,000	$ 6,300,000	$ 2,700,000
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted In 2017 [Member]
Share-based Payment Arrangement, Expense	11,700,000	3,000,000	$ 0
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2018 [Member]
Share-based Payment Arrangement, Expense	6,300,000	$ 0
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2019 [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%
Black-scholes Model [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.88	$ 6.32

Note 22 - Stock-based Compensat

Note 22 - Stock-based Compensation - Share-based Award Expense Activity (Details) - Share-based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Expected lives of options (years) (Year)	9 years 6 months	9 years 1 month 6 days
Expected volatility	29.90%	29.70%
Risk free interest rate	1.70%	3.00%
Dividend yield rate	3.40%	3.90%

Note 22 - Stock Based Compens_4

Note 22 - Stock Based Compensation - Stock Option Award Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Outstanding, beginning of year (in shares)	5,974,433	6,094,033	7,175,816
Outstanding, weighted average exercise price, beginning of year (in dollars per share)	$ 23.50	$ 23.35	$ 24.20
Granted (in shares)	412,247	486,000	0
Granted, weighted-average exercise price (in dollars per share)	$ 35.55	$ 28.45
Exercised (in shares)	(987,496)	(393,571)	(411,249)
Exercised, weighted-average exercise price (in dollars per share)	$ 25.65	$ 25.06	$ 23
Forfeited (in shares)	0	(9,950)	0
Forfeited, weighted-average exercise price (in dollars per share)		$ 20.46
Cancelled (in shares)	0	(202,079)	(670,534)
Cancelled, weighted-average exercise price (in dollars per share)		$ 27.94	$ 32.63
Outstanding, end of year (in shares)	5,399,184	5,974,433	6,094,033
Outstanding, end of year (in dollars per share)	$ 24	$ 23.50	$ 23.35

Note 22 - Share Based Compensat

Note 22 - Share Based Compensation - Unvested Stock Award Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Outstanding, beginning of year (in shares)	483,542	135,481	2,670,744
Outstanding, weigted-average fair value, beginning of year (in dollars per share)	$ 6.26	$ 5.76	$ 4.72
Granted (in shares)	412,247	486,000	0
Granted, weighted-average fair value (in dollars per share)	$ 7.88	$ 6.32
Vested (in shares)	(195,541)	(127,989)	(2,535,263)
Vested, weighted-average fair value (in dollars per share)	$ 5.93	$ 6.18	$ 4.66
Forfeited (in shares)	0	(9,950)	0
Forfeited, weighted-average fair value (in dollars per share)		$ 3.90
Unvested, end of year (in shares)	700,248	483,542	135,481
Unvested, end of year (in dollars per share)	$ 7.20	$ 6.26	$ 5.76

Note 22 - Stock Based Compens_5

Note 22 - Stock Based Compensation - Options Vested and Expected to Vest (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Number outstanding (in shares) | shares	5,397,398
Weighted-average exercise price (in dollars per share) | $ / shares	$ 24
Aggregate intrinsic value (in thousands) | $	$ 76,431
Weighted-average remaining contractual term (years) (Year)	4 years 9 months
Number outstanding (in shares) | shares	4,698,936
Weighted-average exercise price (in dollars per share) | $ / shares	$ 22.75
Aggregate intrinsic value (in thousands) | $	$ 72,411
Weighted-average remaining contractual term (years) (Year)	4 years 1 month 13 days

Note 22 - Stock Based Compens_6

Note 22 - Stock Based Compensation - Outstanding and Exercisable Stock Options (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Options Outstanding Number Outstanding (in shares) | shares	5,399,184
Options Outstanding Weighted Average Remaining Contractual Life (Year)	4 years 9 months
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 24
Options Exercisable Number Outstanding (in shares) | shares	4,698,936
Options Exercisable Weighted Average Remaining Contractual Life (Year)	4 years 1 month 13 days
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 22.75
Exercise Price Range 1 [Member]
Range of Exercise Price, Lower (in dollars per share)	15.01
Range of Exercise Price, Upper (in dollars per share)	$ 20
Options Outstanding Number Outstanding (in shares) | shares	1,269,604
Options Outstanding Weighted Average Remaining Contractual Life (Year)	2 years 3 months 3 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 19.89
Options Exercisable Number Outstanding (in shares) | shares	1,260,418
Options Exercisable Weighted Average Remaining Contractual Life (Year)	2 years 2 months 26 days
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 19.90
Exercise Price Range 2 [Member]
Range of Exercise Price, Lower (in dollars per share)	20.01
Range of Exercise Price, Upper (in dollars per share)	$ 25
Options Outstanding Number Outstanding (in shares) | shares	2,894,522
Options Outstanding Weighted Average Remaining Contractual Life (Year)	4 years 11 months 19 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 23.17
Options Exercisable Number Outstanding (in shares) | shares	2,891,460
Options Exercisable Weighted Average Remaining Contractual Life (Year)	4 years 11 months 15 days
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 23.17
Exercise Price Range 3 [Member]
Range of Exercise Price, Lower (in dollars per share)	25.01
Range of Exercise Price, Upper (in dollars per share)	$ 30
Options Outstanding Number Outstanding (in shares) | shares	804,440
Options Outstanding Weighted Average Remaining Contractual Life (Year)	5 years 6 months 29 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 27.40
Options Exercisable Number Outstanding (in shares) | shares	516,440
Options Exercisable Weighted Average Remaining Contractual Life (Year)	4 years 3 days
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 26.78
Exercise Price Range 4 [Member]
Range of Exercise Price, Lower (in dollars per share)	30.01
Range of Exercise Price, Upper (in dollars per share)	$ 35
Options Outstanding Number Outstanding (in shares) | shares	30,618
Options Outstanding Weighted Average Remaining Contractual Life (Year)	3 years 29 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 32.37
Options Exercisable Number Outstanding (in shares) | shares	30,618
Options Exercisable Weighted Average Remaining Contractual Life (Year)	3 years 29 days
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 32.37
Exercise Price Range 5 [Member]
Range of Exercise Price, Lower (in dollars per share)	35.01
Range of Exercise Price, Upper (in dollars per share)	$ 40
Options Outstanding Number Outstanding (in shares) | shares	400,000
Options Outstanding Weighted Average Remaining Contractual Life (Year)	9 years 7 months 2 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 35.55
Options Exercisable Number Outstanding (in shares) | shares	0

Note 22 - Stock Based Compens_7

Note 22 - Stock Based Compensation - Restricted and Unrestricted Stock Award Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unvested, beginning of year (in shares)	337,909	317,390	221,133
Unvested, beginning of year (in dollars per share)	$ 25.61	$ 23.89	$ 19.85
Granted (in shares)	167,676	143,214	160,620
Fair value per share (in dollars per share)	$ 33.85	$ 29.51	$ 27.42
Vested (in shares)	(156,235)	(117,404)	(57,375)
Vested (in dollars per share)	$ 27.24	$ 25.45	$ 22.57
Forfeited (in shares)	(5,292)	(5,292)	(6,988)
Forfeited (in dollars per share)	$ 30.56	$ 28.84	$ 21.81
Unvested, end of year (in shares)	344,058	337,909	317,390
Unvested, end of year (in dollars per share)	$ 30.54	$ 25.61	$ 23.89

Note 22 - Stock Based Compens_8

Note 22 - Stock Based Compensation - Performance Stock Units Granted (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair value per share (in dollars per share)		$ 33.85	$ 29.51	$ 27.42
Performance Shares [Member] | Chief Executive Officer [Member] | July 25, 2016 [Member]
Base period revenues		$ 1,975,000
Threshold goal, number of PSUs (in shares)		137,781
Threshold goal, home sale revenues		$ 2,074,000
Target goal, number of PSUs (in shares)		275,562
Target goal, home sale revenues		$ 2,173,000
Maximum goal, number of PSUs (in shares)		551,124
Maximum goal, home sale revenues		$ 2,370,000
Fair value per share (in dollars per share)		$ 19.66
Maximum potential expense to be recognized		$ 10,834
Maximum remaining expense to be recognized	[1]	0
Performance Shares [Member] | Chief Executive Officer [Member] | June 20, 2017 [Member]
Base period revenues		$ 2,426,000
Threshold goal, number of PSUs (in shares)		144,342
Threshold goal, home sale revenues		$ 2,547,000
Target goal, number of PSUs (in shares)		288,684
Target goal, home sale revenues		$ 2,669,000
Maximum goal, number of PSUs (in shares)		577,368
Maximum goal, home sale revenues		$ 2,911,000
Fair value per share (in dollars per share)		$ 27.83
Maximum potential expense to be recognized	[1]	$ 16,070
Maximum remaining expense to be recognized	[1]	1,446
Performance Shares [Member] | Chief Executive Officer [Member] | May 23, 2018 [Member]
Base period revenues		$ 2,543,000
Threshold goal, number of PSUs (in shares)		145,800
Threshold goal, home sale revenues		$ 2,670,000
Target goal, number of PSUs (in shares)		291,600
Target goal, home sale revenues		$ 2,797,000
Maximum goal, number of PSUs (in shares)		583,200
Maximum goal, home sale revenues		$ 3,052,000
Fair value per share (in dollars per share)		$ 25.57
Maximum potential expense to be recognized		$ 14,915
Maximum remaining expense to be recognized	[1]	8,623
Performance Shares [Member] | Chief Executive Officer [Member] | August 5, 2019 [Member]
Base period revenues		$ 2,982,000
Threshold goal, number of PSUs (in shares)		135,000
Threshold goal, home sale revenues		$ 3,131,000
Target goal, number of PSUs (in shares)		270,000
Target goal, home sale revenues		$ 3,280,000
Maximum goal, number of PSUs (in shares)		540,000
Maximum goal, home sale revenues		$ 3,578,000
Fair value per share (in dollars per share)		$ 32.60
Maximum potential expense to be recognized	[1]	$ 17,604
Maximum remaining expense to be recognized	[1]	$ 17,604
[1]	Dollars in thousands

Note 23 - Results of Quarterl_3

Note 23 - Results of Quarterly Operations (Unaudited) (Restated for Stock Dividends) - Results of Quarterly Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues	$ 1,104,468	$ 772,662	$ 751,441	$ 664,682	$ 881,875	$ 785,638	$ 770,980	$ 626,723	$ 3,293,253	$ 3,065,216	$ 2,577,614
Asset impairments	$ (325)	$ 0	$ 0	$ (610)	$ (10,002)	$ (11,098)	$ (200)	$ (550)
Gross margin from home sales (including impairments)	18.50%	18.80%	19.50%	18.90%	18.10%	17.70%	19.10%	18.20%
Homebuilding selling, general and administrative expenses	$ 105,101	$ 92,716	$ 82,712	$ 82,261	$ 93,366	$ 83,523	$ 81,571	$ 71,341
Pretax income	112,246	62,806	74,331	55,606	69,286	67,420	76,616	50,532	304,989	263,854	229,732
Net income	$ 92,589	$ 50,580	$ 54,593	$ 40,550	$ 54,725	$ 53,392	$ 63,899	$ 38,764	$ 238,312	$ 210,780	$ 141,835
Basic (in dollars per share)	$ 1.48	$ 0.81	$ 0.88	$ 0.66	$ 0.90	$ 0.87	$ 1.05	$ 0.64	$ 3.84	$ 3.46	$ 2.35
Diluted (in dollars per share)	$ 1.42	$ 0.79	$ 0.86	$ 0.64	$ 0.88	$ 0.86	$ 1.03	$ 0.63	$ 3.72	$ 3.39	$ 2.30
Home Building [Member]
Revenues	$ 1,074,852	$ 750,274	$ 732,844	$ 647,278	$ 858,488	$ 766,027	$ 749,608	$ 607,688

Note 24 - Subsequent Events (De

Note 24 - Subsequent Events (Details Textual) - Subsequent Event [Member] - Senior Notes Due January 2030 [Member] $ in Millions	Jan. 09, 2020USD ($)
Debt Instrument, Face Amount	$ 300
Debt Instrument, Interest Rate, Stated Percentage	3.85%
Debt Instrument, Par Price, Percentage	100.00%
Proceeds from Debt, Net of Issuance Costs	$ 298.1
Debt Instrument, Unamortized Discount, Total	$ 1.9

Note 25 - Supplemental Guaran_3

Note 25 - Supplemental Guarantor Information (Details Textual)	12 Months Ended
	Dec. 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 25 - Supplemental Guaran_4

Note 25 - Supplemental Guarantor Information - Supplemental Condensed Combining Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and cash equivalents	$ 474,212	$ 470,139		$ 514,240	$ 286,687
Property and equipment, net	60,414	58,167
Deferred tax assets, net	21,768	37,178
Total Assets	3,338,356	3,001,077
Mortgage loans held-for-sale, net	58,500	17,800
Total Liabilities	1,555,871	1,425,077
Total Stockholders' Equity	1,782,485	1,576,000		1,407,287	1,320,070
Total Liabilities and Stockholders' Equity	3,338,356	3,001,077
Homebuilding Segment [Member]
Cash and cash equivalents	424,186	414,724		472,957
Marketable securities	0	0
Restricted cash	14,279	6,363		8,812
Trade and other receivables	65,829	52,982
Housing completed or under construction	1,036,191	952,436	$ 944,091	936,685
Land and land under development	1,330,384	1,180,558
Total Inventories	2,366,575	2,132,994
Intercompany receivables	0	0
Investment in subsidiaries	0	0
Property and equipment, net	60,414	58,167	51,709	26,439
Deferred tax assets, net	21,768	37,178	40,907	41,480
Prepaid and other assets	78,358	45,794	41,439	75,666
Total Assets	3,031,409	2,748,202
Other assets	1,288	995
Accounts payable	87,364	50,505
Accrued and other liabilities	245,940	196,247
Advances and notes payable to parent and subsidiaries	0	0
Revolving credit facility	15,000	15,000
Senior notes, net	989,422	987,967
Total Liabilities	1,337,726	1,249,719
Financial Services Segment [Member]
Cash and cash equivalents	35,747	49,052		32,471
Marketable securities	56,747	40,879
Intercompany receivables	0	0
Total Assets	306,947	252,875
Mortgage loans held-for-sale, net	197,021	149,211
Other assets	17,432	13,733	$ 13,515	9,617
Advances and notes payable to parent and subsidiaries	0	0
Total Liabilities	218,145	175,358
Accounts payable and accrued liabilities	68,529	58,543
Mortgage repurchase facility	149,616	116,815
Reportable Legal Entities [Member] | Parent Company [Member]
Cash and cash equivalents	418,822	410,127		468,718	255,679
Total Assets	2,924,942	2,674,373
Total Liabilities	1,142,457	1,098,373
Total Stockholders' Equity	1,782,485	1,576,000
Total Liabilities and Stockholders' Equity	2,924,942	2,674,373
Reportable Legal Entities [Member] | Parent Company [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	418,822	410,127
Marketable securities	0	0
Restricted cash	0	0
Trade and other receivables	624	758
Housing completed or under construction	0	0
Land and land under development	0	0
Total Inventories	0	0
Intercompany receivables	1,936,075	1,735,342
Investment in subsidiaries	488,993	455,848
Property and equipment, net	23,192	23,896
Deferred tax assets, net	22,508	36,168
Prepaid and other assets	34,728	12,234
Total Assets	2,924,942	2,674,373
Accounts payable	289	0
Accrued and other liabilities	84,088	65,691
Advances and notes payable to parent and subsidiaries	53,658	29,715
Revolving credit facility	15,000	15,000
Senior notes, net	989,422	987,967
Total Liabilities	1,142,457	1,098,373
Reportable Legal Entities [Member] | Parent Company [Member] | Financial Services Segment [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Intercompany receivables	0	0
Total Assets	0	0
Mortgage loans held-for-sale, net	0	0
Other assets	0	0
Advances and notes payable to parent and subsidiaries	0	0
Total Liabilities	0	0
Accounts payable and accrued liabilities	0	0
Mortgage repurchase facility	0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash and cash equivalents	19,643	10,960		13,051	7,186
Total Assets	2,538,645	2,271,378
Total Liabilities	2,156,696	1,903,140
Total Stockholders' Equity	381,949	368,238
Total Liabilities and Stockholders' Equity	2,538,645	2,271,378
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	5,364	4,597
Marketable securities	0	0
Restricted cash	14,279	6,363
Trade and other receivables	65,205	52,224
Housing completed or under construction	1,036,191	952,436
Land and land under development	1,330,384	1,180,558
Total Inventories	2,366,575	2,132,994
Intercompany receivables	6,370	7,369
Investment in subsidiaries	0	0
Property and equipment, net	37,222	34,271
Deferred tax assets, net	0	0
Prepaid and other assets	43,630	33,560
Total Assets	2,538,645	2,271,378
Accounts payable	87,075	50,505
Accrued and other liabilities	156,652	125,387
Advances and notes payable to parent and subsidiaries	1,912,969	1,727,248
Revolving credit facility	0	0
Senior notes, net	0	0
Total Liabilities	2,156,696	1,903,140
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Intercompany receivables	0	0
Total Assets	0	0
Mortgage loans held-for-sale, net	0	0
Other assets	0	0
Advances and notes payable to parent and subsidiaries	0	0
Total Liabilities	0	0
Accounts payable and accrued liabilities	0	0
Mortgage repurchase facility	0	0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents	35,747	49,052		32,471	23,822
Total Assets	353,960	276,231
Total Liabilities	246,916	188,621
Total Stockholders' Equity	107,044	87,610
Total Liabilities and Stockholders' Equity	353,960	276,231
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Restricted cash	0	0
Trade and other receivables	0	0
Housing completed or under construction	0	0
Land and land under development	0	0
Total Inventories	0	0
Intercompany receivables	0	0
Investment in subsidiaries	0	0
Property and equipment, net	0	0
Deferred tax assets, net	0	0
Prepaid and other assets	0	0
Total Assets	0	0
Accounts payable	0	0
Accrued and other liabilities	0	0
Advances and notes payable to parent and subsidiaries	0	295
Revolving credit facility	0	0
Senior notes, net	0	0
Total Liabilities	0	295
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Cash and cash equivalents	35,747	49,052
Marketable securities	56,747	40,879
Intercompany receivables	47,753	22,346
Total Assets	353,960	276,231
Mortgage loans held-for-sale, net	197,021	149,211
Other assets	16,692	14,743
Advances and notes payable to parent and subsidiaries	23,571	7,799
Total Liabilities	246,916	188,326
Accounts payable and accrued liabilities	73,729	63,712
Mortgage repurchase facility	149,616	116,815
Consolidation, Eliminations [Member]
Cash and cash equivalents	0	0		$ 0	$ 0
Total Assets	(2,479,191)	(2,220,905)
Total Liabilities	(1,990,198)	(1,765,057)
Total Stockholders' Equity	(488,993)	(455,848)
Total Liabilities and Stockholders' Equity	(2,479,191)	(2,220,905)
Consolidation, Eliminations [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Restricted cash	0	0
Trade and other receivables	0	0
Housing completed or under construction	0	0
Land and land under development	0	0
Total Inventories	0	0
Intercompany receivables	(1,942,445)	(1,742,711)
Investment in subsidiaries	(488,993)	(455,848)
Property and equipment, net	0	0
Deferred tax assets, net	(740)
Prepaid and other assets	0	0
Total Assets	(2,432,178)	(2,197,549)
Accounts payable	0	0
Advances and notes payable to parent and subsidiaries	(1,966,627)	(1,757,258)
Revolving credit facility	0	0
Senior notes, net	0	0
Total Liabilities	(1,961,427)	(1,752,089)
Consolidation, Eliminations [Member] | Financial Services Segment [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Intercompany receivables	(47,753)	(22,346)
Total Assets	(47,013)	(23,356)
Mortgage loans held-for-sale, net	0	0
Other assets		(1,010)
Advances and notes payable to parent and subsidiaries	(23,571)	(7,799)
Total Liabilities	(28,771)	(12,968)
Accounts payable and accrued liabilities	(5,200)	(5,169)
Mortgage repurchase facility	0	0
Segment Reconciling Items [Member] | Homebuilding Segment [Member]
Deferred tax assets, net		1,010
Accrued and other liabilities	5,200	$ 5,169
Segment Reconciling Items [Member] | Financial Services Segment [Member]
Other assets	$ 740

Note 25 - Supplemental Guaran_5

Note 25 - Supplemental Guarantor Information - Supplemental Condensed Combining Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues	$ 1,104,468	$ 772,662	$ 751,441	$ 664,682	$ 881,875	$ 785,638	$ 770,980	$ 626,723					$ 3,293,253	$ 3,065,216	$ 2,577,614
Inventory impairments	(325)	0	0	(610)	(10,002)	(11,098)	(200)	(550)	$ (620)	$ (4,540)	$ 0	$ (4,850)	(935)	(21,850)	(10,010)
Selling, general and administrative expenses	(105,101)	(92,716)	(82,712)	(82,261)	(93,366)	(83,523)	(81,571)	(71,341)
Pretax income (loss)													304,989	263,854	229,732
Provision for income taxes													(66,677)	(53,074)	(87,897)
Net Income	$ 92,589	$ 50,580	$ 54,593	$ 40,550	$ 54,725	$ 53,392	$ 63,899	$ 38,764					238,312	210,780	141,835
Other comprehensive loss related to available-for-sale securities, net of tax													0	0	(18,079)
Comprehensive income													238,312	210,780	123,756
Homebuilding Segment [Member]
Revenues													3,205,248	2,981,811	2,503,242
Cost of Sales													(2,600,196)	(2,415,139)	(2,078,273)
Inventory impairments													(935)	(21,850)	(10,010)
Gross margin													604,117	544,822	414,959
Selling, general and administrative expenses													(362,790)	(329,801)	(287,488)
Equity income of subsidiaries													0	0	0
Interest and other income													9,070	7,718	61,336
Other expense													(5,635)	(5,245)	(2,868)
Pretax income (loss)													244,762	217,494	185,939
Other comprehensive loss related to available-for-sale securities, net of tax													0	0	(18,079)
Financial Services Segment [Member]
Revenues													88,005	83,405	74,372
Interest and other income													17,223	1,155	3,955
Pretax income (loss)													60,227	46,360	43,793
Reportable Legal Entities [Member] | Parent Company [Member]
Pretax income (loss)													223,912	197,772	150,950
Provision for income taxes													14,400	13,008	(9,115)
Net Income													238,312	210,780	141,835
Comprehensive income													238,312	210,780	123,756
Reportable Legal Entities [Member] | Parent Company [Member] | Homebuilding Segment [Member]
Revenues													0	0	0
Cost of Sales													0	0	0
Inventory impairments													0	0	0
Gross margin													0	0	0
Selling, general and administrative expenses													(71,720)	(64,824)	(52,252)
Equity income of subsidiaries													286,606	254,723	144,190
Interest and other income													8,996	7,843	59,042
Other expense													30	30	(30)
Pretax income (loss)													223,912	197,772	150,950
Other comprehensive loss related to available-for-sale securities, net of tax													0	0	(18,079)
Reportable Legal Entities [Member] | Parent Company [Member] | Financial Services Segment [Member]
Pretax income (loss)													0	0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Pretax income (loss)													309,187	276,101	180,427
Provision for income taxes													(67,595)	(55,539)	(64,051)
Net Income													241,592	220,562	116,376
Comprehensive income													241,592	220,562	116,376
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Revenues													3,205,248	2,981,811	2,503,242
Cost of Sales													(2,600,196)	(2,415,139)	(2,078,371)
Inventory impairments													(935)	(21,850)	(10,010)
Gross margin													604,117	544,822	414,861
Selling, general and administrative expenses													(290,507)	(264,475)	(234,430)
Equity income of subsidiaries													0	0	0
Interest and other income													1,242	1,029	2,834
Other expense													(5,665)	(5,275)	(2,838)
Pretax income (loss)													309,187	276,101	180,427
Other comprehensive loss related to available-for-sale securities, net of tax													0	0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Pretax income (loss)													0	0	0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Pretax income (loss)													58,496	44,704	42,545
Provision for income taxes													(13,482)	(10,543)	(14,731)
Net Income													45,014	34,161	27,814
Comprehensive income													45,014	34,161	31,196
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Revenues													0	0	0
Cost of Sales													0	0	98
Inventory impairments													0	0	0
Gross margin													0	0	98
Selling, general and administrative expenses													0	0	0
Equity income of subsidiaries													0	0	0
Interest and other income													0	4	6
Other expense													0	0	0
Pretax income (loss)													0	4	104
Other comprehensive loss related to available-for-sale securities, net of tax													0	0	3,382
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Pretax income (loss)													58,496	44,700	42,441
Consolidation, Eliminations [Member]
Pretax income (loss)													(286,606)	(254,723)	(144,190)
Provision for income taxes													0	0	0
Net Income													(286,606)	(254,723)	(144,190)
Comprehensive income													(286,606)	(254,723)	(147,572)
Consolidation, Eliminations [Member] | Homebuilding Segment [Member]
Revenues													0	0	0
Cost of Sales													0	0	0
Inventory impairments													0	0	0
Gross margin													0	0	0
Equity income of subsidiaries													(286,606)	(254,723)	(144,190)
Interest and other income													(1,168)	(1,158)	(546)
Other expense													0	0	0
Pretax income (loss)													(288,337)	(256,383)	(145,542)
Other comprehensive loss related to available-for-sale securities, net of tax													0	0	(3,382)
Consolidation, Eliminations [Member] | Financial Services Segment [Member]
Pretax income (loss)													1,731	1,660	1,352
Segment Reconciling Items [Member] | Homebuilding Segment [Member]
Selling, general and administrative expenses													$ (563)	$ (502)	$ (806)

Note 25 - Supplemental Guaran_6

Note 25 - Supplemental Guarantor Information - Supplemental Condensed Combining Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net cash provided by (used in) operating activities	$ 57,833	$ (7,906)	$ 70,506
Net cash provided by (used in) investing activities	(28,785)	20,214	57,790
Payments from (advances to) subsidiaries	0	0	0
Advances (payments) on mortgage repurchase facility, net	32,801	4,475	(2,145)
Dividend payments	(73,117)	(67,718)	(51,897)
Issuance of shares under stock-based compensation programs, net	15,341	9,860	9,501
Net cash provided by (used in) financing activities	(24,975)	(56,409)	99,257
Net increase (decrease) in cash and cash equivalents	4,073	(44,101)	227,553
Beginning of period	470,139	514,240	286,687
Cash and cash equivalents	474,212	470,139	514,240
Payments of deferred financing costs	0	(3,026)	(2,665)
Proceeds from issuance of senior notes	0	0	146,463
Excess tax benefit from share-based awards			(2,665)
Reportable Legal Entities [Member] | Parent Company [Member]
Net cash provided by (used in) operating activities	(9,997)	10,925	30,815
Net cash provided by (used in) investing activities	76,468	(8,632)	80,822
Payments from (advances to) subsidiaries	0	0	0
Advances (payments) on mortgage repurchase facility, net	0	0	0
Dividend payments	(73,117)	(67,718)	(51,897)
Issuance of shares under stock-based compensation programs, net	15,341	9,860	9,501
Net cash provided by (used in) financing activities	(57,776)	(60,884)	101,402
Net increase (decrease) in cash and cash equivalents	8,695	(58,591)	213,039
Beginning of period	410,127	468,718	255,679
Cash and cash equivalents	418,822	410,127	468,718
Payments of deferred financing costs		(3,026)
Proceeds from issuance of senior notes			146,463
Excess tax benefit from share-based awards			(2,665)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	74,134	(47,132)	8,991
Net cash provided by (used in) investing activities	(23,833)	(25,415)	(454)
Payments from (advances to) subsidiaries	(41,618)	70,456	(2,672)
Advances (payments) on mortgage repurchase facility, net	0	0	0
Dividend payments	0	0	0
Issuance of shares under stock-based compensation programs, net	0	0	0
Net cash provided by (used in) financing activities	(41,618)	70,456	(2,672)
Net increase (decrease) in cash and cash equivalents	8,683	(2,091)	5,865
Beginning of period	10,960	13,051	7,186
Cash and cash equivalents	19,643	10,960	13,051
Payments of deferred financing costs		0
Proceeds from issuance of senior notes			0
Excess tax benefit from share-based awards			0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	(6,304)	28,301	30,700
Net cash provided by (used in) investing activities	(4,149)	(2,639)	(253)
Payments from (advances to) subsidiaries	(35,653)	(13,556)	(19,653)
Advances (payments) on mortgage repurchase facility, net	32,801	4,475	(2,145)
Dividend payments	0	0	0
Issuance of shares under stock-based compensation programs, net	0	0	0
Net cash provided by (used in) financing activities	(2,852)	(9,081)	(21,798)
Net increase (decrease) in cash and cash equivalents	(13,305)	16,581	8,649
Beginning of period	49,052	32,471	23,822
Cash and cash equivalents	35,747	49,052	32,471
Payments of deferred financing costs		0
Proceeds from issuance of senior notes			0
Excess tax benefit from share-based awards			0
Consolidation, Eliminations [Member]
Net cash provided by (used in) operating activities	0	0	0
Net cash provided by (used in) investing activities	(77,271)	56,900	(22,325)
Payments from (advances to) subsidiaries	77,271	(56,900)	22,325
Advances (payments) on mortgage repurchase facility, net	0	0	0
Dividend payments	0	0	0
Issuance of shares under stock-based compensation programs, net	0	0	0
Net cash provided by (used in) financing activities	77,271	(56,900)	22,325
Net increase (decrease) in cash and cash equivalents	0	0	0
Beginning of period	0	0	0
Cash and cash equivalents	$ 0	0	0
Payments of deferred financing costs		$ 0
Proceeds from issuance of senior notes			0
Excess tax benefit from share-based awards			$ 0