M.D.C. (MDC) 10-Q 5 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
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	Q1
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-8951
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 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 Common Stock, Shares Outstanding		63,054,495
6% Senior Notes [Member]
Document Information [Line Items]
Title of 12(b) Security	6% Senior Notes due January 2043
Trading Symbol	552676AQ1
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	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 424,625	$ 474,212
Deferred tax asset, net	20,660	21,768
Total Assets	3,373,712	3,338,356
Total Assets	3,373,712	3,338,356
LIABILITIES AND EQUITY
Accrued and other liabilities	233,034	245,940
Total Liabilities	1,562,635	1,555,871
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; 63,052,495 and 62,574,961 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	631	626
Additional paid-in-capital	1,361,362	1,348,733
Retained earnings	449,084	433,126
Total Stockholders' Equity	1,811,077	1,782,485
Total Liabilities and Stockholders' Equity	3,373,712	3,338,356
Homebuilding Segment [Member]
ASSETS
Cash and cash equivalents	386,704	424,186
Restricted cash	15,762	14,279
Trade and other receivables	69,301	65,829
Housing completed or under construction	1,215,214	1,036,191
Land and land under development	1,301,433	1,330,384
Total inventories	2,516,647	2,366,575
Property and equipment, net	62,316	60,414
Deferred tax asset, net	20,700	21,800
Prepaid and other assets	78,002	78,358
Total Assets	3,149,392	3,031,409
Marketable securities	43,985	56,747
Other assets	506	1,288
Total Assets	3,149,392	3,031,409
LIABILITIES AND EQUITY
Accounts payable	97,980	87,364
Accrued and other liabilities	233,034	245,940
Revolving credit facility	15,000	15,000
Senior notes, net	1,036,900	989,422
Total Liabilities	1,382,914	1,337,726
Financial Services Segment [Member]
ASSETS
Cash and cash equivalents	22,159	35,747
Prepaid and other assets	24,255
Total Assets	224,320	306,947
Marketable securities	43,985	56,747
Mortgage loans held-for-sale, net	133,921	197,021
Other assets	24,255	17,432
Total Assets	224,320	306,947
LIABILITIES AND EQUITY
Total Liabilities	179,721	218,145
Accounts payable and accrued liabilities	70,977	68,529
Mortgage repurchase facility	$ 108,744	$ 149,616

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
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)	63,052,495	62,574,961
Common stock, shares outstanding (in shares)	63,052,495	62,574,961

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Inventory impairments	$ 0	$ (610)
Gross profit	138,438	122,116
Pretax income	48,562	55,606
Provision for income taxes	(11,802)	(15,056)
Net income	36,760	40,550
Comprehensive income	$ 36,760	$ 40,550
Earnings per share:
Basic (in dollars per share)	$ 0.58	$ 0.66
Diluted (in dollars per share)	$ 0.56	$ 0.64
Weighted average common shares outstanding:
Basic (in shares)	62,491,238	60,939,364
Diluted (in shares)	64,931,225	62,708,334
Dividends declared per share (in dollars per share)	$ 0.33	$ 0.30
Homebuilding Segment [Member]
Revenues	$ 697,085	$ 647,278
Cost of sales	(558,647)	(525,162)
Inventory impairments	0	(610)
Selling, general and administrative expenses	(89,321)	(82,261)
Interest and other income	1,889	2,391
Other expense	(1,337)	(1,191)
Pretax income	49,669	41,055
Other income (expense), net	(1,337)	(1,191)
Homebuilding Segment [Member] | Home Building [Member]
Revenues	697,085	647,278
Cost of sales	(558,647)	(524,552)
Financial Services Segment [Member]
Revenues	21,886	17,404
Pretax income	(1,107)	14,551
Expenses	(10,929)	(8,957)
Other income (expense), net	$ (12,064)	$ 6,104

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock Outstanding [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock Outstanding [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018					56,615,352				56,615,352
Balance at Dec. 31, 2018	$ 0	$ 0	$ (67)	$ (67)	$ 566	$ 1,168,442	$ 406,925	$ 1,575,933	$ 566	$ 1,168,442	$ 406,992	$ 1,576,000
Net Income									$ 0	0	40,550	40,550
Shares issued under stock-based compensation programs, net (in shares)									372,344
Shares issued under stock-based compensation programs, net									$ 4	7,083	0	7,087
Cash dividends declared									0	0	(17,019)	(17,019)
Stock-based compensation expense									$ 0	4,251	0	4,251
Forfeiture of restricted stock (in shares)									(1,714)
Forfeiture of restricted stock									$ 0	0	0	0
Stock dividend declared (in shares)									4,534,908
Stock dividend declared									$ 45	138,950	(139,091)	(96)
Balance (in shares) at Mar. 31, 2019									61,520,890
Balance at Mar. 31, 2019									$ 615	1,318,726	291,365	1,610,706
Balance (in shares) at Dec. 31, 2019					62,574,961				62,574,961
Balance at Dec. 31, 2019	$ 0	$ 0	$ (34)	$ (34)	$ 626	$ 1,348,733	$ 433,092	$ 1,782,451	$ 626	1,348,733	433,126	1,782,485
Net Income									$ 0	0	36,760	36,760
Shares issued under stock-based compensation programs, net (in shares)									477,582
Shares issued under stock-based compensation programs, net									$ 5	8,189	0	8,194
Cash dividends declared									0	0	(20,768)	(20,768)
Stock-based compensation expense									$ 0	4,440	0	4,440
Forfeiture of restricted stock (in shares)									(48)
Forfeiture of restricted stock									$ 0	0	0	0
Balance (in shares) at Mar. 31, 2020									63,052,495
Balance at Mar. 31, 2020									$ 631	$ 1,361,362	$ 449,084	$ 1,811,077

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities:
Net income	$ 36,760	$ 40,550
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	4,440	4,251
Depreciation and amortization	5,152	4,878
Inventory impairments	0	610
Net (gain) loss on marketable equity securities	13,268	(4,840)
Deferred income tax expense	1,131	2,696
Net changes in assets and liabilities:
Trade and other receivables	(1,611)	(13,771)
Mortgage loans held-for-sale, net	63,100	38,401
Prepaid and other assets	(8,460)	1,085
Accounts payable and accrued liabilities	(1,131)	(3,153)
Net cash provided by (used in) operating activities	(37,173)	54,348
Investing Activities:
Purchases of marketable securities	(9,782)	(4,785)
Sales of marketable securities	9,276	4,737
Purchases of property and equipment	(6,512)	(6,386)
Net cash used in investing activities	(7,018)	(6,434)
Financing Activities:
Payments on mortgage repurchase facility, net	(40,872)	(31,959)
Repayment of senior notes	(250,000)	0
Proceeds from issuance of senior notes	298,050	0
Dividend payments	(20,768)	(17,115)
Issuance of shares under stock-based compensation programs, net	8,194	7,087
Net cash used in financing activities	(5,396)	(41,987)
Net increase (decrease) in cash, cash equivalents and restricted cash	(49,587)	5,927
Cash, cash equivalents and restricted cash:
Beginning of period	474,212	470,139
End of period	424,625	476,066
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	424,625	476,066
End of period	424,625	476,066
Homebuilding Segment [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Inventory impairments	0	610
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	386,704	416,374
Restricted cash	15,762	8,136
Financial Services Segment [Member]
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	22,159	51,556
Housing Completed or Under Construction [Member]
Net changes in assets and liabilities:
Housing completed or under construction and land under development	(178,873)	2,137
Land and Land Under Development [Member]
Net changes in assets and liabilities:
Housing completed or under construction and land under development	$ 29,051	$ (18,496)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Basis of Presentation The Unaudited Consolidated Financial Statements of M.D.C. Holdings, Inc. ("MDC," “the Company," “we,” “us,” or “our,” which refers to M.D.C. Holdings, Inc. and its subsidiaries) have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, they do not March 31, 2020 10 December 31, 2019. Included in these footnotes are certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. may “may,” may no 10 10 8 Where necessary, reclassifications have been made to our prior period financial information to conform to the current year presentation.

Note 2 - Recently Issued Accoun

Note 2 - Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2. Recently Issued Accounting Standards Adoption of New Accounting Standards In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13 January 1, 2020, 2016 13 not

Note 3 - Segment Reporting

Note 3 - Segment Reporting	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	3 . Segment Reporting An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (“CODM”), or decision-making group, to evaluate performance and make operating decisions. We have identified our CODM as two We have identified each homebuilding division as an operating segment. Our homebuilding operating segments have been aggregated into the reportable segments noted below because they are similar in the following regards: ( 1 2 3 4 5 ● West (Arizona, California, Nevada, Oregon and Washington) ● Mountain (Colorado and Utah) ● East (mid-Atlantic, which includes Maryland and Virginia, and Florida) Our financial services business consists of the operations 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 operating 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. On a periodic basis, we assess our Corporate cost allocation estimates. Our most recent assessment resulted in increases in Corporate cost allocations to both our homebuilding and financial services segments beginning January 1, 2020, three March 31, 2019 January 1, 2020, three March 31, 2019, The following table summarizes revenues for our homebuilding and financial services operations: Three Months Ended March 31, 2020 2019 (Dollars in thousands) Homebuilding West $ 405,498 $ 369,558 Mountain 222,858 209,192 East 68,729 68,528 Total homebuilding revenues $ 697,085 $ 647,278 Financial Services Mortgage operations $ 14,625 $ 10,174 Other 7,261 7,230 Total financial services revenues $ 21,886 $ 17,404 The following table summarizes pretax income (loss) for our homebuilding and financial services operations: Three Months Ended March 31, 2020 2019 (Dollars in thousands) Homebuilding West $ 36,576 $ 33,200 Mountain 21,512 21,714 East 900 1,473 Corporate (9,319 ) (15,332 ) Total homebuilding pretax income $ 49,669 $ 41,055 Financial Services Mortgage operations $ 8,243 $ 4,993 Other (9,350 ) 9,558 Total financial services pretax income (loss) $ (1,107 ) $ 14,551 Total pretax income $ 48,562 $ 55,606 The following table summarizes total assets for our homebuilding and financial services operations. The assets in our West, Mountain and East segments consist primarily of inventory while the assets in our Corporate segment primarily include our cash and cash equivalents and deferred tax assets. The assets in our financial services segment consist primarily of cash and cash equivalents, marketable securities and mortgage loans held-for-sale. March 31, December 31, 2020 2019 (Dollars in thousands) Homebuilding assets West $ 1,559,410 $ 1,461,645 Mountain 907,727 869,665 East 216,063 194,592 Corporate 466,192 505,507 Total homebuilding assets $ 3,149,392 $ 3,031,409 Financial services assets Mortgage operations $ 154,546 $ 209,946 Other 69,774 97,001 Total financial services assets $ 224,320 $ 306,947 Total assets $ 3,373,712 $ 3,338,356

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	4. Earnings Per Share Accounting Standards Codification (“ASC”) Topic 260, Earnings per Share 260” two two two 260. Three Months Ended March 31, 2020 2019 (Dollars in thousands, except per share amounts) Numerator Net income $ 36,760 $ 40,550 Less: distributed earnings allocated to participating securities (135 ) (111 ) Less: undistributed earnings allocated to participating securities (96 ) (139 ) Net income attributable to common stockholders (numerator for basic earnings per share) 36,529 40,300 Add back: undistributed earnings allocated to participating securities 96 139 Less: undistributed earnings reallocated to participating securities (93 ) (136 ) Numerator for diluted earnings per share under two class method $ 36,532 $ 40,303 Denominator Weighted-average common shares outstanding 62,491,238 60,939,364 Add: dilutive effect of stock options 1,862,619 1,217,846 Add: dilutive effect of performance stock units 577,368 551,124 Denominator for diluted earnings per share under two class method 64,931,225 62,708,334 Basic Earnings Per Common Share $ 0.58 $ 0.66 Diluted Earnings Per Common Share $ 0.56 $ 0.64 Diluted EPS for the three March 31, 2020 2019

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5 . Fair Value Measurements ASC Topic 820, Fair Value Measurements 820” 820 three 1, 2, 3, no The following table sets forth the fair values and methods used for measuring the fair values of financial instruments on a recurring basis: Fair Value Financial Instrument Hierarchy March 31, 2020 December 31, 2019 (Dollars in thousands) Marketable securities Equity securities Level 1 $ 43,985 $ 56,747 Mortgage loans held-for-sale, net Level 2 $ 133,921 $ 197,021 The following methods and assumptions were used to estimate the fair value of each class of financial instruments as of March 31, 2020 December 31, 2019. Cash and cash equivalents (excluding debt securities with an original maturity of three , restricted cash, trade and other receivables, prepaid and other assets, accounts payable, accrued liabilities and borrowings on our revolving credit facility. E quity s ecurities March 31, 2020 December 31, 2019, The following table reconciles the net gain (loss) recognized during the three March 31, 2020 2019 Three Months Ended March 31, 2020 2019 (Dollars in thousands) Net gain (loss) recognized during the period on equity securities $ (13,268 ) $ 4,840 Less: Net gain (loss) recognized during the period on equity securities sold during the period 609 (237 ) Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ (13,877 ) $ 4,603 Mortgage loans held-for-sale, net. 1 2 not March 31, 2020 December 31, 2019, 2 March 31, 2020 December 31, 2019, not 2 Gains on sales of mortgage loans, net, are included as a component of revenues in the financial services section of our consolidated statements of operations and comprehensive income. For the three March 31, 2020, Mortgage Repurchase Facility. 18 2 Senior Notes 2 March 31, 2020 December 31, 2019 Carrying Fair Value Carrying Fair Value (Dollars in thousands) $250 5.625% $ - $ - $ 249,909 $ 250,400 $250 5.500% 249,060 228,750 249,005 272,083 $300 3.850% 297,285 270,750 - - $500 6.000% 490,555 466,250 490,508 528,542 Total $ 1,036,900 $ 965,750 $ 989,422 $ 1,051,025

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	6 . Inventories The following table sets forth, by reportable segment, information relating to our homebuilding inventories: March 31, December 31, 2020 2019 (Dollars in thousands) Housing completed or under construction: West $ 699,039 $ 589,040 Mountain 411,077 358,370 East 105,098 88,781 Subtotal 1,215,214 1,036,191 Land and land under development: West 760,606 772,189 Mountain 448,492 468,718 East 92,335 89,477 Subtotal 1,301,433 1,330,384 Total inventories $ 2,516,647 $ 2,366,575 Our inventories are primarily associated with communities where we intend to construct and sell homes, including models and unsold homes. Costs capitalized to land and land under development primarily include: ( 1 2 3 4 5 6 1 2 3 4 5 In accordance with ASC Topic 360, Property, Plant, and Equipment 360” may not • actual and trending “Operating Margin” (which is defined as home sale revenues less home cost of sales and all incremental costs associated directly with the subdivision, including sales commissions and marketing costs); • estimated future undiscounted cash flows and Operating Margin; • forecasted Operating Margin for homes in backlog; • actual and trending net home orders; • homes available for sale; • market information for each sub-market, including competition levels, home foreclosure levels, the size and style of homes currently being offered for sale and lot size; and • known or probable events indicating that the carrying value may not If events or circumstances indicate that the carrying value of our inventory may not 3 3 If land is classified as held for sale, we measure it in accordance with ASC 360 2 not not 3 Impairments of homebuilding inventory by segment for the three March 31, 2020 2019 Three Months Ended March 31, 2020 2019 (Dollars in thousands) West $ - $ - Mountain - 400 East - 210 Total inventory impairments $ - $ 610 The table below provides quantitative data for the periods presented, where applicable, used in determining the fair value of the impaired inventory. Impairment Data Quantitative Data Three Months Ended Inventory Fair Value of Impairments Number of Discount Rate March 31, 2019 $ 610 $ 10,476 2 N/A

Note 7 - Capitalization of Inte

Note 7 - Capitalization of Interest	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Capitalization Disclosure [Text Block]	7 . Capitalization of Interest We capitalize interest to inventories during the period of development in accordance with ASC Topic 835, Interest 835” 835, Three Months Ended March 31, 2020 2019 (Dollars in thousands) Homebuilding interest incurred $ 16,534 $ 16,031 Less: Interest capitalized (16,534 ) (16,031 ) Homebuilding interest expensed $ - $ - Interest capitalized, beginning of period $ 55,310 $ 54,845 Plus: Interest capitalized during period 16,534 16,031 Less: Previously capitalized interest included in home cost of sales (12,767 ) (13,929 ) Interest capitalized, end of period $ 59,077 $ 56,947

Note 8 - Leases

Note 8 - Leases	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8 . 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 not 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 in the homebuilding and expenses in the financial services sections of our consolidated statements of operations and comprehensive income, respectively. Components of operating lease expense were as follows: Three Months Ended March 31, 2020 2019 (Dollars in thousands) Operating lease cost 1 $ 2,046 $ 1,980 Less: Sublease income (Note 19) (38 ) (37 ) Net lease cost $ 2,008 $ 1,943 __________________________________________________ 1 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2020 2019 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,906 $ 1,771 Leased assets obtained in exchange for new operating lease liabilities $ 2,645 $ 1,477 Weighted-average remaining lease term and discount rate for operating leases were as follows: March 31, 2020 Weighted-average remaining lease term (in years) 6.0 Weighted-average discount rate 5.5 % Maturities of operating lease liabilities were as follows: Year Ended December 31, (Dollars in thousands) 2020 (excluding the three months ended March 31, 2020) $ 5,112 2021 7,009 2022 6,670 2023 5,718 2024 5,307 Thereafter 9,529 Total operating lease payments $ 39,345 Less: Interest 6,073 Present value of operating lease liabilities 1 $ 33,272 __________________________________________________ 1 March 31, 2020.

Note 9 - Homebuilding Prepaid a

Note 9 - Homebuilding Prepaid and Other Assets	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Other Assets Disclosure [Text Block]	9 . Homebuilding Prepaid and Other Assets The following table sets forth the components of homebuilding prepaid and other assets: March 31, December 31, 2020 2019 (Dollars in thousands) Operating lease right-of-use asset (Note 8) $ 31,619 $ 30,277 Land option deposits 27,126 27,361 Prepaid expenses 6,997 7,294 Goodwill 6,008 6,008 Deferred debt issuance costs on revolving credit facility, net 5,746 6,130 Other 506 1,288 Total $ 78,002 $ 78,358

Note 10 - Homebuilding Accrued

Note 10 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	1 0 . 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: March 31, December 31, 2020 2019 (Dollars in thousands) Customer and escrow deposits $ 43,342 $ 39,001 Warranty accrual 30,887 31,386 Accrued compensation and related expenses 26,333 45,003 Lease liability (Note 8) 32,182 30,830 Accrued interest 14,018 27,734 Construction defect claim reserves 8,318 8,196 Land development and home construction accruals 8,862 9,750 Other accrued liabilities 69,092 54,040 Total accrued liabilities $ 233,034 $ 245,940 The following table sets forth information relating to financial services accounts payable and accrued liabilities: March 31, December 31, 2020 2019 (Dollars in thousands) Insurance reserves $ 53,132 $ 52,219 Accounts payable and other accrued liabilities 17,845 16,310 Total accounts payable and accrued liabilities $ 70,977 $ 68,529

Note 11 - Warranty Accrual

Note 11 - Warranty Accrual	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	1 1 . Warranty Accrual Our homes are sold with limited third third first two three ten not 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. The table set forth below summarizes accrual, adjustment and payment activity related to our warranty accrual for the three March 31, 2020 2019. Three Months Ended March 31, 2020 2019 (Dollars in thousands) Balance at beginning of period $ 31,386 $ 28,262 Expense provisions 3,165 3,348 Cash payments (3,664 ) (2,493 ) Adjustments - 875 Balance at end of period $ 30,887 $ 29,992

Note 12 - Insurance and Constru

Note 12 - Insurance and Construction Defect Claim Reserves	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	1 2 . Insurance and Construction Defect Claim Reserves The establishment of reserves for estimated losses associated with insurance policies issued by Allegiant and re-insurance agreements issued by StarAmerican are based on actuarial studies that include known facts and interpretations of circumstances, including our experience with similar cases and historical trends involving claim payment patterns, pending levels of unpaid claims, product mix or concentration, claim severity, frequency patterns depending on the business conducted, and changing regulatory and legal environments. It is possible that changes in the insurance payment experience used in estimating our ultimate insurance losses could have a material impact on our insurance reserves. The establishment of reserves for estimated losses to be incurred by our homebuilding subsidiaries associated with ( 1 2 not The table set forth below summarizes our insurance and construction defect claim reserves activity for the three March 31, 2020 2019. Three Months Ended March 31, 2020 2019 (Dollars in thousands) Balance at beginning of period $ 60,415 $ 55,308 Expense provisions 2,918 2,465 Cash payments, net of recoveries (1,883 ) (1,554 ) Balance at end of period $ 61,450 $ 56,219 In the ordinary course of business, we make payments from our insurance and construction defect claim reserves to settle litigation claims arising from our homebuilding activities. These payments are irregular in both their timing and their magnitude. As a result, the cash payments, net of recoveries shown for the three March 31, 2020 2019 not

Note 13 - Income Taxes

Note 13 - Income Taxes	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 3 . Income Taxes Our overall effective income tax rates were 24.3% and 27.1% for the three March 31, 2020 2019, three March 31, 2020 three March 31, 2020 162 At March 31, 2020 December 31, 2019,

Note 14 - Senior Notes

Note 14 - Senior Notes	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	1 4 . Senior Notes The carrying values of our senior notes as of March 31, 2020 December 31, 2019, March 31, December 31, 2020 2019 (Dollars in thousands) 5.625% February 2020 $ - $ 249,909 5.500% January 2024 249,060 249,005 3.850% January 2030 297,285 - 6.000% January 2043 490,555 490,508 Total $ 1,036,900 $ 989,422 Our senior notes are not not

Note 15 - Stock-based Compensat

Note 15 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	1 5 . Stock- Based Compensation We account for share-based awards in accordance with ASC Topic 718 Compensation–Stock Compensation 718” three March 31, 2020 2019, Three Months Ended March 31, 2020 2019 (Dollars in thousands) Stock option grants expense $ 495 $ 255 Restricted stock awards expense 1,517 911 Performance share units expense 2,428 3,085 Total stock-based compensation $ 4,440 $ 4,251 On 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 Maximum Maximum 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 Potential Expense to be Recognized* 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 $ - 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 $ 7,641 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 three March 31, 2019 2017 March 31, 2020, three March 31, 2020. three March 31, 2019, 2018 March 31, 2020, three March 31, 2020. March 31, 2019, not March 31, 2019. 2019 August 2019, not March 31, 2020.

Note 16 - Commitments and Conti

Note 16 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 6 . Commitments and Contingencies Surety Bonds and Letters of Credit. March 31, 2020, March 31, 2020, 18 not We have made no third Litigation . not Lot Option Contracts March 31, 2020, Coronavirus/COVID- 19 Pandemic . s April,

Note 17 - Derivative Financial

Note 17 - Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	1 7 . Derivative Financial Instruments The derivative instruments we utilize in the normal course of business are interest rate lock commitments and forward sales of mortgage-backed securities, both of which typically are short-term in nature. Forward sales of mortgage-backed securities are utilized to hedge changes in fair value of our interest rate lock commitments as well as mortgage loans held-for-sale not At March 31, 2020, March 31, 2020 not not March 31, 2020. For the three March 31, 2020 2019,

Note 18 - Lines of Credit

Note 18 - Lines of Credit	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	1 8 . Lines of Credit 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 March 31, 2020. We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At March 31, 2020 December 31, 2019, March 31, 2020 December 31, 2019. March 31, 2020, Mortgage Repurchase Facility. May 23, 2019, May 21, 2020. November 12, 2008, may March 30, 2020 $75 April 27, 2020. December 24, 2019 January 22, 2020. March 31, 2020 December 31, 2019, The Mortgage Repurchase Facility contains various representations, warranties and affirmative and negative covenants that we believe are customary for agreements of this type. The negative covenants include, among others, (i) a minimum Adjusted Tangible Net Worth requirement, (ii) a maximum Adjusted Tangible Net Worth ratio, (iii) a minimum adjusted net income requirement, and (iv) a minimum Liquidity requirement. The foregoing capitalized terms are defined in the Mortgage Repurchase Facility. We believe HomeAmerican was in compliance with the representations, warranties and covenants included in the Mortgage Repurchase Facility as of March 31, 2020.

Note 19 - Related Party Transac

Note 19 - Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	19 . Related Party Transactions We contributed $1.5 million in cash to the MDC/Richmond American Homes Foundation (the “Foundation”) during the three March 31, 2020. 501 3 March 31, 2020, Name MDC Title Larry A. Mizel Chairman and CEO David D. Mandarich President and COO Three other individuals, who are independent of the Company, also serve as directors of the Foundation. All directors of the Foundation serve without compensation. The Company has a sublease agreement with CVentures, Inc. Larry A. Mizel, the Chief Executive Officer of the Company, is the President of CVentures, Inc. The sublease is for office space that CVentures, Inc. has continuously leased from the Company since 2005. November 1, 2016 October 31, 2021, October 31, 2026.

Note 20 - Supplemental Guaranto

Note 20 - Supplemental Guarantor Information	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	2 0 . 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 Supplemental Condensed Combining Balance Sheet March 31, 2020 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) ASSETS Homebuilding: Cash and cash equivalents $ 380,318 $ 6,386 $ - $ - $ 386,704 Restricted cash - 15,762 - - 15,762 Trade and other receivables 694 68,607 - - 69,301 Inventories: Housing completed or under construction - 1,215,214 - - 1,215,214 Land and land under development - 1,301,433 - - 1,301,433 Total inventories - 2,516,647 - - 2,516,647 Intercompany receivables 2,265,553 5,919 - (2,271,472 ) - Investment in subsidiaries 279,593 - - (279,593 ) - Property and equipment, net 23,033 39,283 - - 62,316 Deferred tax asset, net 18,962 - - 1,698 20,660 Prepaid and other assets 32,961 45,041 - - 78,002 Total homebuilding assets 3,001,114 2,697,645 - (2,549,367 ) 3,149,392 Financial Services: Cash and cash equivalents - - 22,159 - 22,159 Marketable securities - - 43,985 - 43,985 Intercompany receivables - - 64,666 (64,666 ) - Mortgage loans held-for-sale, net - - 133,921 - 133,921 Other assets - - 25,953 (1,698 ) 24,255 Total financial services assets - - 290,684 (66,364 ) 224,320 Total Assets $ 3,001,114 $ 2,697,645 $ 290,684 $ (2,615,731 ) $ 3,373,712 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 515 $ 97,465 $ - $ - $ 97,980 Accrued and other liabilities 67,874 162,742 - 2,418 233,034 Advances and notes payable to parent and subsidiaries 69,748 2,254,742 - (2,324,490 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 1,036,900 - - - 1,036,900 Total homebuilding liabilities 1,190,037 2,514,949 - (2,322,072 ) 1,382,914 Financial Services: Accounts payable and other liabilities - - 73,395 (2,418 ) 70,977 Advances and notes payable to parent and subsidiaries - - 11,648 (11,648 ) - Mortgage repurchase facility - - 108,744 - 108,744 Total financial services liabilities - - 193,787 (14,066 ) 179,721 Total Liabilities 1,190,037 2,514,949 193,787 (2,336,138 ) 1,562,635 Equity: Total Stockholders' Equity 1,811,077 182,696 96,897 (279,593 ) 1,811,077 Total Liabilities and Stockholders' Equity $ 3,001,114 $ 2,697,645 $ 290,684 $ (2,615,731 ) $ 3,373,712 Supplemental Co ndensed 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 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 Supplementa l Condensed Combining Statement of Operations Three Months Ended March 31, 2020 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC Homebuilding: (Dollars in thousands) Revenues $ - $ 697,085 $ - $ - $ 697,085 Cost of sales - (558,647 ) - - (558,647 ) Inventory impairments - - - - - Gross profit - 138,438 - - 138,438 Selling, general, and administrative expenses (10,782 ) (78,408 ) - (131 ) (89,321 ) Equity income of subsidiaries 43,236 - - (43,236 ) - Interest and other income 1,783 291 - (185 ) 1,889 Other expense 8 (1,345 ) - - (1,337 ) Homebuilding pretax income (loss) 34,245 58,976 - (43,552 ) 49,669 Financial Services: Financial services pretax income - - (1,423 ) 316 (1,107 ) Income before income taxes 34,245 58,976 (1,423 ) (43,236 ) 48,562 (Provision) benefit for income taxes 2,515 (14,333 ) 16 - (11,802 ) Net income $ 36,760 $ 44,643 $ (1,407 ) $ (43,236 ) $ 36,760 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 36,760 $ 44,643 $ (1,407 ) $ (43,236 ) $ 36,760 Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC Homebuilding: (Dollars in thousands) Revenues $ - $ 647,278 $ - $ - $ 647,278 Cost of sales - (524,552 ) - - (524,552 ) Inventory impairments - (610 ) - - (610 ) Gross profit - 122,116 - - 122,116 Selling, general, and administrative expenses (17,438 ) (64,701 ) - (122 ) (82,261 ) Equity income of subsidiaries 52,165 - - (52,165 ) - Interest and other income 2,409 155 - (173 ) 2,391 Other expense 7 (1,198 ) - - (1,191 ) Homebuilding pretax income (loss) 37,143 56,372 - (52,460 ) 41,055 Financial Services: Financial services pretax income - - 14,256 295 14,551 Income before income taxes 37,143 56,372 14,256 (52,165 ) 55,606 (Provision) benefit for income taxes 3,407 (15,264 ) (3,199 ) - (15,056 ) Net income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Supplementa l Condensed Combining Statement of Cash Flows Three Months Ended March 31, 2020 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (13,287 ) $ (89,277 ) $ 65,391 $ - $ (37,173 ) Net cash provided by (used in) investing activities (60,693 ) (6,384 ) (506 ) 60,565 (7,018 ) Financing activities: Payments from (advances to) subsidiaries - 98,166 (37,601 ) (60,565 ) - Mortgage repurchase facility - - (40,872 ) - (40,872 ) Proceeds from issuance of senior notes 298,050 - - - 298,050 Repayment of senior notes (250,000 ) - - - (250,000 ) Dividend payments (20,768 ) - - - (20,768 ) Issuance of shares under stock-based compensation programs, net 8,194 - - - 8,194 Net cash provided by (used in) financing activities 35,476 98,166 (78,473 ) (60,565 ) (5,396 ) Net increase (decrease) in cash and cash equivalents (38,504 ) 2,505 (13,588 ) - (49,587 ) Cash and cash equivalents: Beginning of period 418,822 19,643 35,747 - 474,212 End of period $ 380,318 $ 22,148 $ 22,159 $ - $ 424,625 Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (18,145 ) $ 31,508 $ 40,985 $ - $ 54,348 Net cash provided by (used in) investing activities 29,796 (6,094 ) (93 ) (30,043 ) (6,434 ) Financing activities: Payments from (advances to) subsidiaries - (23,614 ) (6,429 ) 30,043 - Mortgage repurchase facility - - (31,959 ) - (31,959 ) Dividend payments (17,115 ) - - - (17,115 ) Issuance of shares under stock-based compensation programs, net 7,087 - - - 7,087 Net cash provided by (used in) financing activities (10,028 ) (23,614 ) (38,388 ) 30,043 (41,987 ) Net increase (decrease) in cash and cash equivalents 1,623 1,800 2,504 - 5,927 Cash and cash equivalents: Beginning of period 410,127 10,960 49,052 - 470,139 End of period $ 411,750 $ 12,760 $ 51,556 $ - $ 476,066

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of New Accounting Standards In June 2016, 2016 13, Financial Instruments—Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13 January 1, 2020, 2016 13 not

Note 3 - Segment Reporting (Tab

Note 3 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Homebuilding West $ 405,498 $ 369,558 Mountain 222,858 209,192 East 68,729 68,528 Total homebuilding revenues $ 697,085 $ 647,278 Financial Services Mortgage operations $ 14,625 $ 10,174 Other 7,261 7,230 Total financial services revenues $ 21,886 $ 17,404
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Homebuilding West $ 36,576 $ 33,200 Mountain 21,512 21,714 East 900 1,473 Corporate (9,319 ) (15,332 ) Total homebuilding pretax income $ 49,669 $ 41,055 Financial Services Mortgage operations $ 8,243 $ 4,993 Other (9,350 ) 9,558 Total financial services pretax income (loss) $ (1,107 ) $ 14,551 Total pretax income $ 48,562 $ 55,606
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, December 31, 2020 2019 (Dollars in thousands) Homebuilding assets West $ 1,559,410 $ 1,461,645 Mountain 907,727 869,665 East 216,063 194,592 Corporate 466,192 505,507 Total homebuilding assets $ 3,149,392 $ 3,031,409 Financial services assets Mortgage operations $ 154,546 $ 209,946 Other 69,774 97,001 Total financial services assets $ 224,320 $ 306,947 Total assets $ 3,373,712 $ 3,338,356

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands, except per share amounts) Numerator Net income $ 36,760 $ 40,550 Less: distributed earnings allocated to participating securities (135 ) (111 ) Less: undistributed earnings allocated to participating securities (96 ) (139 ) Net income attributable to common stockholders (numerator for basic earnings per share) 36,529 40,300 Add back: undistributed earnings allocated to participating securities 96 139 Less: undistributed earnings reallocated to participating securities (93 ) (136 ) Numerator for diluted earnings per share under two class method $ 36,532 $ 40,303 Denominator Weighted-average common shares outstanding 62,491,238 60,939,364 Add: dilutive effect of stock options 1,862,619 1,217,846 Add: dilutive effect of performance stock units 577,368 551,124 Denominator for diluted earnings per share under two class method 64,931,225 62,708,334 Basic Earnings Per Common Share $ 0.58 $ 0.66 Diluted Earnings Per Common Share $ 0.56 $ 0.64

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Financial Instrument Hierarchy March 31, 2020 December 31, 2019 (Dollars in thousands) Marketable securities Equity securities Level 1 $ 43,985 $ 56,747 Mortgage loans held-for-sale, net Level 2 $ 133,921 $ 197,021
Gain (Loss) on Securities [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Net gain (loss) recognized during the period on equity securities $ (13,268 ) $ 4,840 Less: Net gain (loss) recognized during the period on equity securities sold during the period 609 (237 ) Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ (13,877 ) $ 4,603
Fair Value of Senior Notes [Table Text Block]	March 31, 2020 December 31, 2019 Carrying Fair Value Carrying Fair Value (Dollars in thousands) $250 5.625% $ - $ - $ 249,909 $ 250,400 $250 5.500% 249,060 228,750 249,005 272,083 $300 3.850% 297,285 270,750 - - $500 6.000% 490,555 466,250 490,508 528,542 Total $ 1,036,900 $ 965,750 $ 989,422 $ 1,051,025

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Inventory [Table Text Block]	March 31, December 31, 2020 2019 (Dollars in thousands) Housing completed or under construction: West $ 699,039 $ 589,040 Mountain 411,077 358,370 East 105,098 88,781 Subtotal 1,215,214 1,036,191 Land and land under development: West 760,606 772,189 Mountain 448,492 468,718 East 92,335 89,477 Subtotal 1,301,433 1,330,384 Total inventories $ 2,516,647 $ 2,366,575
Schedule of Inventory Impairments [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) West $ - $ - Mountain - 400 East - 210 Total inventory impairments $ - $ 610
Quantitative Data for Fair Value of the Impaired Inventory [Table Text Block]	Impairment Data Quantitative Data Three Months Ended Inventory Fair Value of Impairments Number of Discount Rate March 31, 2019 $ 610 $ 10,476 2 N/A

Note 7 - Capitalization of In_2

Note 7 - Capitalization of Interest (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Capitalization of Interest [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Homebuilding interest incurred $ 16,534 $ 16,031 Less: Interest capitalized (16,534 ) (16,031 ) Homebuilding interest expensed $ - $ - Interest capitalized, beginning of period $ 55,310 $ 54,845 Plus: Interest capitalized during period 16,534 16,031 Less: Previously capitalized interest included in home cost of sales (12,767 ) (13,929 ) Interest capitalized, end of period $ 59,077 $ 56,947

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Operating lease cost 1 $ 2,046 $ 1,980 Less: Sublease income (Note 19) (38 ) (37 ) Net lease cost $ 2,008 $ 1,943 __________________________________________________ 1
Schedule of Lease Cash Flow Information [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,906 $ 1,771 Leased assets obtained in exchange for new operating lease liabilities $ 2,645 $ 1,477
Schedule of Lease Terms and Discount Rates [Table Text Block]	March 31, 2020 Weighted-average remaining lease term (in years) 6.0 Weighted-average discount rate 5.5 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ended December 31, (Dollars in thousands) 2020 (excluding the three months ended March 31, 2020) $ 5,112 2021 7,009 2022 6,670 2023 5,718 2024 5,307 Thereafter 9,529 Total operating lease payments $ 39,345 Less: Interest 6,073 Present value of operating lease liabilities 1 $ 33,272

Note 9 - Homebuilding Prepaid_2

Note 9 - Homebuilding Prepaid and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Other Assets [Table Text Block]	March 31, December 31, 2020 2019 (Dollars in thousands) Operating lease right-of-use asset (Note 8) $ 31,619 $ 30,277 Land option deposits 27,126 27,361 Prepaid expenses 6,997 7,294 Goodwill 6,008 6,008 Deferred debt issuance costs on revolving credit facility, net 5,746 6,130 Other 506 1,288 Total $ 78,002 $ 78,358

Note 10 - Homebuilding Accrue_2

Note 10 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2020 2019 (Dollars in thousands) Customer and escrow deposits $ 43,342 $ 39,001 Warranty accrual 30,887 31,386 Accrued compensation and related expenses 26,333 45,003 Lease liability (Note 8) 32,182 30,830 Accrued interest 14,018 27,734 Construction defect claim reserves 8,318 8,196 Land development and home construction accruals 8,862 9,750 Other accrued liabilities 69,092 54,040 Total accrued liabilities $ 233,034 $ 245,940
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	March 31, December 31, 2020 2019 (Dollars in thousands) Insurance reserves $ 53,132 $ 52,219 Accounts payable and other accrued liabilities 17,845 16,310 Total accounts payable and accrued liabilities $ 70,977 $ 68,529

Note 11 - Warranty Accrual (Tab

Note 11 - Warranty Accrual (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Balance at beginning of period $ 31,386 $ 28,262 Expense provisions 3,165 3,348 Cash payments (3,664 ) (2,493 ) Adjustments - 875 Balance at end of period $ 30,887 $ 29,992

Note 12 - Insurance and Const_2

Note 12 - Insurance and Construction Defect Claim Reserves (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Balance at beginning of period $ 60,415 $ 55,308 Expense provisions 2,918 2,465 Cash payments, net of recoveries (1,883 ) (1,554 ) Balance at end of period $ 61,450 $ 56,219

Note 14 - Senior Notes (Tables)

Note 14 - Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Debt [Table Text Block]	March 31, December 31, 2020 2019 (Dollars in thousands) 5.625% February 2020 $ - $ 249,909 5.500% January 2024 249,060 249,005 3.850% January 2030 297,285 - 6.000% January 2043 490,555 490,508 Total $ 1,036,900 $ 989,422

Note 15 - Stock-based Compens_2

Note 15 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Share-based Payment Arrangement, Activity [Table Text Block]	Three Months Ended March 31, 2020 2019 (Dollars in thousands) Stock option grants expense $ 495 $ 255 Restricted stock awards expense 1,517 911 Performance share units expense 2,428 3,085 Total stock-based compensation $ 4,440 $ 4,251
Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]	Threshold Goal Target Goal Maximum Goal Maximum Maximum 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 Potential Expense to be Recognized* 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 $ - 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 $ 7,641 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 20 - Supplemental Guaran_2

Note 20 - Supplemental Guarantor Information (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Condensed Balance Sheet [Table Text Block]	March 31, 2020 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) ASSETS Homebuilding: Cash and cash equivalents $ 380,318 $ 6,386 $ - $ - $ 386,704 Restricted cash - 15,762 - - 15,762 Trade and other receivables 694 68,607 - - 69,301 Inventories: Housing completed or under construction - 1,215,214 - - 1,215,214 Land and land under development - 1,301,433 - - 1,301,433 Total inventories - 2,516,647 - - 2,516,647 Intercompany receivables 2,265,553 5,919 - (2,271,472 ) - Investment in subsidiaries 279,593 - - (279,593 ) - Property and equipment, net 23,033 39,283 - - 62,316 Deferred tax asset, net 18,962 - - 1,698 20,660 Prepaid and other assets 32,961 45,041 - - 78,002 Total homebuilding assets 3,001,114 2,697,645 - (2,549,367 ) 3,149,392 Financial Services: Cash and cash equivalents - - 22,159 - 22,159 Marketable securities - - 43,985 - 43,985 Intercompany receivables - - 64,666 (64,666 ) - Mortgage loans held-for-sale, net - - 133,921 - 133,921 Other assets - - 25,953 (1,698 ) 24,255 Total financial services assets - - 290,684 (66,364 ) 224,320 Total Assets $ 3,001,114 $ 2,697,645 $ 290,684 $ (2,615,731 ) $ 3,373,712 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 515 $ 97,465 $ - $ - $ 97,980 Accrued and other liabilities 67,874 162,742 - 2,418 233,034 Advances and notes payable to parent and subsidiaries 69,748 2,254,742 - (2,324,490 ) - Revolving credit facility 15,000 - - - 15,000 Senior notes, net 1,036,900 - - - 1,036,900 Total homebuilding liabilities 1,190,037 2,514,949 - (2,322,072 ) 1,382,914 Financial Services: Accounts payable and other liabilities - - 73,395 (2,418 ) 70,977 Advances and notes payable to parent and subsidiaries - - 11,648 (11,648 ) - Mortgage repurchase facility - - 108,744 - 108,744 Total financial services liabilities - - 193,787 (14,066 ) 179,721 Total Liabilities 1,190,037 2,514,949 193,787 (2,336,138 ) 1,562,635 Equity: Total Stockholders' Equity 1,811,077 182,696 96,897 (279,593 ) 1,811,077 Total Liabilities and Stockholders' Equity $ 3,001,114 $ 2,697,645 $ 290,684 $ (2,615,731 ) $ 3,373,712 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 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
Condensed Income Statement [Table Text Block]	Three Months Ended March 31, 2020 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC Homebuilding: (Dollars in thousands) Revenues $ - $ 697,085 $ - $ - $ 697,085 Cost of sales - (558,647 ) - - (558,647 ) Inventory impairments - - - - - Gross profit - 138,438 - - 138,438 Selling, general, and administrative expenses (10,782 ) (78,408 ) - (131 ) (89,321 ) Equity income of subsidiaries 43,236 - - (43,236 ) - Interest and other income 1,783 291 - (185 ) 1,889 Other expense 8 (1,345 ) - - (1,337 ) Homebuilding pretax income (loss) 34,245 58,976 - (43,552 ) 49,669 Financial Services: Financial services pretax income - - (1,423 ) 316 (1,107 ) Income before income taxes 34,245 58,976 (1,423 ) (43,236 ) 48,562 (Provision) benefit for income taxes 2,515 (14,333 ) 16 - (11,802 ) Net income $ 36,760 $ 44,643 $ (1,407 ) $ (43,236 ) $ 36,760 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 36,760 $ 44,643 $ (1,407 ) $ (43,236 ) $ 36,760 Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC Homebuilding: (Dollars in thousands) Revenues $ - $ 647,278 $ - $ - $ 647,278 Cost of sales - (524,552 ) - - (524,552 ) Inventory impairments - (610 ) - - (610 ) Gross profit - 122,116 - - 122,116 Selling, general, and administrative expenses (17,438 ) (64,701 ) - (122 ) (82,261 ) Equity income of subsidiaries 52,165 - - (52,165 ) - Interest and other income 2,409 155 - (173 ) 2,391 Other expense 7 (1,198 ) - - (1,191 ) Homebuilding pretax income (loss) 37,143 56,372 - (52,460 ) 41,055 Financial Services: Financial services pretax income - - 14,256 295 14,551 Income before income taxes 37,143 56,372 14,256 (52,165 ) 55,606 (Provision) benefit for income taxes 3,407 (15,264 ) (3,199 ) - (15,056 ) Net income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550 Other comprehensive income related to available-for-sale securities, net of tax - - - - - Comprehensive income $ 40,550 $ 41,108 $ 11,057 $ (52,165 ) $ 40,550
Condensed Cash Flow Statement [Table Text Block]	Three Months Ended March 31, 2020 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (13,287 ) $ (89,277 ) $ 65,391 $ - $ (37,173 ) Net cash provided by (used in) investing activities (60,693 ) (6,384 ) (506 ) 60,565 (7,018 ) Financing activities: Payments from (advances to) subsidiaries - 98,166 (37,601 ) (60,565 ) - Mortgage repurchase facility - - (40,872 ) - (40,872 ) Proceeds from issuance of senior notes 298,050 - - - 298,050 Repayment of senior notes (250,000 ) - - - (250,000 ) Dividend payments (20,768 ) - - - (20,768 ) Issuance of shares under stock-based compensation programs, net 8,194 - - - 8,194 Net cash provided by (used in) financing activities 35,476 98,166 (78,473 ) (60,565 ) (5,396 ) Net increase (decrease) in cash and cash equivalents (38,504 ) 2,505 (13,588 ) - (49,587 ) Cash and cash equivalents: Beginning of period 418,822 19,643 35,747 - 474,212 End of period $ 380,318 $ 22,148 $ 22,159 $ - $ 424,625 Three Months Ended March 31, 2019 Non- Guarantor Guarantor Eliminating Consolidated MDC Subsidiaries Subsidiaries Entries MDC (Dollars in thousands) Net cash provided by (used in) operating activities $ (18,145 ) $ 31,508 $ 40,985 $ - $ 54,348 Net cash provided by (used in) investing activities 29,796 (6,094 ) (93 ) (30,043 ) (6,434 ) Financing activities: Payments from (advances to) subsidiaries - (23,614 ) (6,429 ) 30,043 - Mortgage repurchase facility - - (31,959 ) - (31,959 ) Dividend payments (17,115 ) - - - (17,115 ) Issuance of shares under stock-based compensation programs, net 7,087 - - - 7,087 Net cash provided by (used in) financing activities (10,028 ) (23,614 ) (38,388 ) 30,043 (41,987 ) Net increase (decrease) in cash and cash equivalents 1,623 1,800 2,504 - 5,927 Cash and cash equivalents: Beginning of period 410,127 10,960 49,052 - 470,139 End of period $ 411,750 $ 12,760 $ 51,556 $ - $ 476,066

Note 2 - Recently Issued Acco_2

Note 2 - Recently Issued Accounting Standards (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 449,084		$ 433,126
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ (100)

Note 3 - Segment Reporting (Det

Note 3 - Segment Reporting (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019USD ($)
Other Segments [Member]
Number of Reportable Segments	1
Homebuilding Segment [Member]
Estimated Increase (Decrease) in Prior Period Pretax Income Using New Cost Allocation Method in Homebuilding Segment		$ (2.7)
Estimated Increase (Decrease) in Prior Period Pretax Income Using New Expense Allocation Method		(3)
Financial Services Segment [Member]
Estimated Increase (Decrease) in Prior Period Pretax Income Using New Cost Allocation Method in Financial Services Segment		(0.4)
Corporate Segment [Member]
Estimated Increase (Decrease) in Prior Period Pretax Income Using New Cost Allocation Method in Homebuilding Segment		2.7
Estimated Increase (Decrease) in Prior Period Pretax Income Using New Cost Allocation Method in Financial Services Segment		0.4
Estimated Increase (Decrease) in Prior Period Pretax Income Using New Expense Allocation Method		$ 3

Note 3 - Segment Reporting - Re

Note 3 - Segment Reporting - Reconciliation of Revenue From Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Homebuilding Segment [Member]
Revenues	$ 697,085	$ 647,278
Homebuilding Segment [Member] | Reportable Segment, West [Member]
Revenues	405,498	369,558
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member]
Revenues	222,858	209,192
Homebuilding Segment [Member] | Reportable Segment, East [Member]
Revenues	68,729	68,528
Financial Services Segment [Member]
Revenues	21,886	17,404
Financial Services Segment [Member] | Mortgage Operations [Member]
Revenues	14,625	10,174
Financial Services Segment [Member] | Other Financial Services [Member]
Revenues	$ 7,261	$ 7,230

Note 3 - Segment Reporting - _2

Note 3 - Segment Reporting - Reconciliation of Pretax Operating Income From Segments to Consolidated (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Pretax income		$ 48,562	$ 55,606
Homebuilding Segment [Member]
Pretax income		49,669	41,055
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, West [Member]
Pretax income		36,576	33,200
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, Mountain [Member]
Pretax income		21,512	21,714
Homebuilding Segment [Member] | Operating Segments [Member] | Reportable Segment, East [Member]
Pretax income		900	1,473
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Pretax income	[1]	(9,319)	(15,332)
Financial Services Segment [Member]
Pretax income		(1,107)	14,551
Financial Services Segment [Member] | Operating Segments [Member] | Mortgage Operations [Member]
Pretax income		8,243	4,993
Financial Services Segment [Member] | Operating Segments [Member] | Other Financial Services [Member]
Pretax income		$ (9,350)	$ 9,558
[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 3 - Segment Reporting - To

Note 3 - Segment Reporting - Total Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets	$ 3,373,712	$ 3,338,356
Homebuilding Segment [Member]
Assets	3,149,392	3,031,409
Homebuilding Segment [Member] | Corporate, Non-Segment [Member]
Assets	466,192	505,507
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Operating Segments [Member]
Assets	1,559,410	1,461,645
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Operating Segments [Member]
Assets	907,727	869,665
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Operating Segments [Member]
Assets	216,063	194,592
Financial Services Segment [Member]
Assets	224,320	306,947
Financial Services Segment [Member] | Mortgage Operations [Member] | Operating Segments [Member]
Assets	154,546	209,946
Financial Services Segment [Member] | Other Financial Services [Member] | Operating Segments [Member]
Assets	$ 69,774	$ 97,001

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.4	0.5

Note 4 - Earnings Per Share - B

Note 4 - Earnings Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 36,760	$ 40,550
Less: distributed earnings allocated to participating securities	(135)	(111)
Less: undistributed earnings allocated to participating securities	(96)	(139)
Net income attributable to common stockholders (numerator for basic earnings per share)	36,529	40,300
Add back: undistributed earnings allocated to participating securities	96	139
Less: undistributed earnings reallocated to participating securities	(93)	(136)
Numerator for diluted earnings per share under two class method	$ 36,532	$ 40,303
Weighted-average common shares outstanding (in shares)	62,491,238	60,939,364
Denominator for diluted earnings per share under two class method (in shares)	64,931,225	62,708,334
Basic Earnings Per Common Share (in dollars per share)	$ 0.58	$ 0.66
Diluted Earnings Per Common Share (in dollars per share)	$ 0.56	$ 0.64
Share-based Payment Arrangement, Option [Member]
Add: dilutive effect of share-based compensation (in shares)	1,862,619	1,217,846
Performance Shares [Member]
Add: dilutive effect of share-based compensation (in shares)	577,368	551,124

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Minimum [Member]
Short Term Borrowings Maturity Period (Day)	30 days
Financial Services Segment [Member]
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance	$ 133,921		$ 197,021
Gain (Loss) on Sale of Mortgage Loans	16,700	$ 11,700
Fair Value, Inputs, Level 2 [Member] | Under Commitment to Sell [Member]
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance	88,100		136,800
Fair Value, Inputs, Level 2 [Member] | Not Under Commitment to Sell [Member]
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance	$ 45,800		$ 60,200

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Fair Value Methods Used for Measuring Fair Values of Financial Instruments on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 1 [Member]
Equity securities	$ 43,985	$ 56,747
Fair Value, Inputs, Level 2 [Member]
Mortgage loans held-for-sale, net	$ 133,921	$ 197,021

Note 5 - Fair Value Measureme_5

Note 5 - Fair Value Measurements - Reconciles Net Loss to Unrealized Loss on Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net gain (loss) recognized during the period on equity securities	$ (13,268)	$ 4,840
Less: Net gain (loss) recognized during the period on equity securities sold during the period	609	(237)
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$ (13,877)	$ 4,603

Note 5 - Fair Value Measureme_6

Note 5 - Fair Value Measurements - Estimated Fair Value of Senior Notes (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Senior Notes, Carrying Amount	$ 1,036,900,000	$ 989,422,000
Reported Value Measurement [Member]
Senior Notes, Carrying Amount	1,036,900,000	989,422,000
Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	965,750,000	1,051,025,000
Senior Notes 5.625% Due February 2020 [Member]
Senior Notes, Carrying Amount	0	249,909,000
Senior Notes 5.625% Due February 2020 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	0	249,909,000
Senior Notes 5.625% Due February 2020 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	0	250,400,000
Senior Notes 5.5% Due January 2024 [Member]
Senior Notes, Carrying Amount	249,060,000	249,005,000
Senior Notes 5.5% Due January 2024 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	249,060,000	249,005,000
Senior Notes 5.5% Due January 2024 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	228,750,000	272,083,000
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member]
Senior Notes, Carrying Amount	297,285,000	0
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	297,285,000	0
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	270,750,000	0
Senior Notes 6% Due January 2043 [Member]
Senior Notes, Carrying Amount	490,555	490,508
Senior Notes 6% Due January 2043 [Member] | Reported Value Measurement [Member]
Senior Notes, Carrying Amount	490,555,000	490,508,000
Senior Notes 6% Due January 2043 [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	$ 466,250,000	$ 528,542,000

Note 5 - Fair Value Measureme_7

Note 5 - Fair Value Measurements - Estimated Fair Value of Senior Notes (Details) (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Senior Notes 5.625% Due February 2020 [Member]
Interest rate	5.625%	5.625%
Senior Notes 5.625% Due February 2020 [Member] | Reported Value Measurement [Member]
Interest rate	5.625%	5.625%
Senior Notes, face amount	$ 250	$ 250
Senior Notes 5.5% Due January 2024 [Member]
Interest rate	5.50%	5.50%
Senior Notes 5.5% Due January 2024 [Member] | Reported Value Measurement [Member]
Interest rate	5.50%	5.50%
Senior Notes, face amount	$ 250	$ 250
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member]
Interest rate	3.85%	3.85%
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member] | Reported Value Measurement [Member]
Interest rate	3.85%	3.85%
Senior Notes, face amount	$ 300	$ 300
Senior Notes 6% Due January 2043 [Member]
Interest rate	6.00%	6.00%
Senior Notes 6% Due January 2043 [Member] | Reported Value Measurement [Member]
Interest rate	6.00%	6.00%
Senior Notes, face amount	$ 500	$ 500

Note 6 - Inventories - Summary

Note 6 - Inventories - Summary of Inventory (Details) - Homebuilding Segment [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Housing completed or under construction	$ 1,215,214	$ 1,036,191
Land and land under development	1,301,433	1,330,384
Total inventories	2,516,647	2,366,575
Reportable Segment, West [Member]
Housing completed or under construction	699,039	589,040
Land and land under development	760,606	772,189
Reportable Segment, Mountain [Member]
Housing completed or under construction	411,077	358,370
Land and land under development	448,492	468,718
Reportable Segment, East [Member]
Housing completed or under construction	105,098	88,781
Land and land under development	$ 92,335	$ 89,477

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventory Impairments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Impairment Data; Inventory Impairments	$ 0	$ 610
Homebuilding Segment [Member]
Impairment Data; Inventory Impairments	0	610
Homebuilding Segment [Member] | Reportable Segment, West [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments	0	0
Homebuilding Segment [Member] | Reportable Segment, Mountain [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments	0	400
Homebuilding Segment [Member] | Reportable Segment, East [Member] | Housing Completed or Under Construction [Member]
Impairment Data; Inventory Impairments	$ 0	$ 210

Note 6 - Inventories - Fair Val

Note 6 - Inventories - Fair Value of Impaired Inventory (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Impairment Data; Inventory Impairments	$ 0	$ 610
Impairment Data; Fair Value of Inventory After Impairments		$ 10,476
Impairment Data; Number of Subdivisions Impaired		2

Note 7 - Capitalization of In_3

Note 7 - Capitalization of Interest - Interest Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Homebuilding interest incurred	$ 16,534	$ 16,031
Less: Interest capitalized	(16,534)	(16,031)
Homebuilding interest expensed	0	0
Interest capitalized, beginning of period	55,310	54,845
Plus: Interest capitalized during period	16,534	16,031
Less: Previously capitalized interest included in home cost of sales	(12,767)	(13,929)
Interest capitalized, end of period	$ 59,077	$ 56,947

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
Operating Lease, Liability, Total	[1]		$ 33,272
Homebuilding Segment [Member]
Operating Lease, Liability, Total		$ 32,182	$ 30,830
Homebuilding Segment [Member] | Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability, Total		32,200
Financial Services Segment [Member] | Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability, Total		$ 1,100
Company Headquarters [Member]
Lessee, Operating Lease, Term of Contract (Year)		10 years
Lessee, Operating Lease, Renewal Term (Year)		10 years
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)		3 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)		5 years
[1]	Financial services operating lease liabilities of $1.1 million are included as a component of accrued liabilities in the financial services section of our consolidated balance sheet at March 31, 2020.

Note 8 - Leases - Components of

Note 8 - Leases - Components of Operating Lease Expense (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Operating lease cost	[1]	$ 2,046	$ 1,980
Less: Sublease income (Note 19)		(38)	(37)
Net lease cost		$ 2,008	$ 1,943
[1]	Includes variable lease costs, which are immaterial.

Note 8 - Leases - Supplemental

Note 8 - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating cash flows from operating leases	$ 1,906	$ 1,771
Leased assets obtained in exchange for new operating lease liabilities	$ 2,645	$ 1,477

Note 8 - Leases - Weighted Aver

Note 8 - Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2020
Weighted-average remaining lease term (in years) (Year)	6 years
Weighted-average discount rate	5.50%

Note 8 - Leases - Maturities of

Note 8 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
2020 (excluding the three months ended March 31, 2020)	$ 5,112
2021	7,009
2022	6,670
2023	5,718
2024	5,307
Thereafter	9,529
Total operating lease payments	39,345
Less: Interest	6,073
Operating Lease, Liability, Total	$ 33,272	[1]
[1]	Financial services operating lease liabilities of $1.1 million are included as a component of accrued liabilities in the financial services section of our consolidated balance sheet at March 31, 2020.

Note 9 - Homebuilding Prepaid_3

Note 9 - Homebuilding Prepaid and Other Assets - Summary of Homebuilding Prepaid and Other Assets (Details) - Homebuilding Segment [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating lease right-of-use asset (Note 8)	$ 31,619	$ 30,277
Land option deposits	27,126	27,361
Prepaid expenses	6,997	7,294
Goodwill	6,008	6,008
Deferred debt issuance costs on revolving credit facility, net	5,746	6,130
Other	506	1,288
Total	$ 78,002	$ 78,358

Note 10 - Homebuilding Accrue_3

Note 10 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities - Homebuilding Accrued Liabilities (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Warranty accrual		$ 30,887	$ 31,386	$ 29,992	$ 28,262
Lease liability (Note 8)	[1]		33,272
Total accrued liabilities		233,034	245,940
Homebuilding Segment [Member]
Customer and escrow deposits		43,342	39,001
Warranty accrual		30,887	31,386
Accrued compensation and related expenses		26,333	45,003
Lease liability (Note 8)		32,182	30,830
Accrued interest		14,018	27,734
Construction defect claim reserves		8,318	8,196
Land development and home construction accruals		8,862	9,750
Other accrued liabilities		69,092	54,040
Total accrued liabilities		$ 233,034	$ 245,940
[1]	Financial services operating lease liabilities of $1.1 million are included as a component of accrued liabilities in the financial services section of our consolidated balance sheet at March 31, 2020.

Note 10 - Homebuilding Accrue_4

Note 10 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Insurance reserves	$ 61,450	$ 60,415	$ 56,219	$ 55,308
Financial Services Segment [Member]
Insurance reserves	53,132	52,219
Accounts payable and other accrued liabilities	17,845	16,310
Total accounts payable and accrued liabilities	$ 70,977	$ 68,529

Note 11 - Warranty Accrual - Wa

Note 11 - Warranty Accrual - Warranty Accrual and Payment Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Balance at beginning of period	$ 31,386	$ 28,262
Expense provisions	3,165	3,348
Cash payments	(3,664)	(2,493)
Adjustments	0	875
Balance at end of period	$ 30,887	$ 29,992

Note 12 - Insurance and Const_3

Note 12 - Insurance and Construction Defect Claim Reserves - Summary of Insurance and Defect Claim Reserves Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Balance at beginning of period	$ 60,415	$ 55,308
Expense provisions	2,918	2,465
Cash payments, net of recoveries	(1,883)	(1,554)
Balance at end of period	$ 61,450	$ 56,219

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Percent, Total	24.30%	27.10%
Income Tax Expense (Benefit), Total	$ 11,802	$ 15,056
Deferred Income Tax Assets, Net, Total	20,660		$ 21,768
Homebuilding Segment [Member]
Deferred Income Tax Assets, Net, Total	$ 20,700		$ 21,800

Note 14 - Senior Notes - Carryi

Note 14 - Senior Notes - Carrying Amount of Senior Notes (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Carrying amount	$ 1,036,900,000	$ 989,422,000
Senior Notes 5.625% Due February 2020 [Member]
Carrying amount	0	249,909,000
Senior Notes 5.5% Due January 2024 [Member]
Carrying amount	249,060,000	249,005,000
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member]
Carrying amount	297,285,000	0
Senior Notes 6% Due January 2043 [Member]
Carrying amount	$ 490,555	$ 490,508

Note 14 - Senior Notes - Carr_2

Note 14 - Senior Notes - Carrying Amount of Senior Notes (Details) (Parentheticals)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Senior Notes 5.625% Due February 2020 [Member]
Interest rate	5.625%	5.625%
Maturity date	Feb. 29, 2020	Feb. 29, 2020
Senior Notes 5.5% Due January 2024 [Member]
Interest rate	5.50%	5.50%
Maturity date	Jan. 31, 2024	Jan. 31, 2024
Senior Notes, 3 Point 85 Percent, Due January 2030 [Member]
Interest rate	3.85%	3.85%
Maturity date	Jan. 31, 2030	Jan. 31, 2030
Senior Notes 6% Due January 2043 [Member]
Interest rate	6.00%	6.00%
Maturity date	Jan. 31, 2043	Jan. 31, 2043

Note 15 - Stock-based Compens_3

Note 15 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		22 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	May 23, 2018
Share-based Payment Arrangement, Expense	$ 4,440	$ 4,251
Performance Shares [Member]
Share-based Payment Arrangement, Expense	2,428	3,085
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2016 [Member]
Share-based Payment Arrangement, Expense		900
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted In 2017 [Member]
Share-based Payment Arrangement, Expense	1,400	2,200
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Granted in 2018 [Member]
Share-based Payment Arrangement, Expense	1,000	$ 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 (Year)			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Average Gross Margin of Home Sales, Percentage, Minimum			15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			10.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Minimum [Member] | 5% to 10% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			5.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Minimum [Member] | 20% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			20.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			20.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Maximum [Member] | 5% to 10% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Performance Revenues that Exceed Base Revenues			10.00%
Performance Shares [Member] | Equity Incentive Plan 2011 [Member] | Maximum [Member] | 20% Vesting Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Target Goal Number of Shares			200.00%

Note 15 - Stock-based Compens_4

Note 15 - Stock-based Compensation - Share-based Award Expense Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based compensation expense	$ 4,440	$ 4,251
Share-based Payment Arrangement, Option [Member]
Share-based compensation expense	495	255
Restricted Stock [Member]
Share-based compensation expense	1,517	911
Performance Shares [Member]
Share-based compensation expense	$ 2,428	$ 3,085

Note 15 - Stock-based Compens_5

Note 15 - Stock-based Compensation - Performance Stock Units Granted (Details) - Performance Shares [Member] - Chief Executive Officer [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
July 25, 2016 [Member]
Base period revenues	$ 1,975,000
Threshold goal, number of PSUs (in shares) | shares	137,781
Threshold goal, home sale revenues	$ 2,074,000
Target goal, number of PSUs (in shares) | shares	275,562
Target goal, home sale revenues	$ 2,173,000
Maximum goal, number of PSUs (in shares) | shares	551,124
Maximum goal, home sale revenues	$ 2,370,000
Fair value per share (in dollars per share) | $ / shares	$ 19.66
Maximum potential expense to be recognized	$ 10,834
Maximum remaining expense to be recognized	0	[1]
June 20, 2017 [Member]
Base period revenues	$ 2,426,000
Threshold goal, number of PSUs (in shares) | shares	144,342
Threshold goal, home sale revenues	$ 2,547,000
Target goal, number of PSUs (in shares) | shares	288,684
Target goal, home sale revenues	$ 2,669,000
Maximum goal, number of PSUs (in shares) | shares	577,368
Maximum goal, home sale revenues	$ 2,911,000
Fair value per share (in dollars per share) | $ / shares	$ 27.83
Maximum potential expense to be recognized	$ 16,070	[1]
Maximum remaining expense to be recognized	0	[1]
May 23, 2018 [Member]
Base period revenues	$ 2,543,000
Threshold goal, number of PSUs (in shares) | shares	145,800
Threshold goal, home sale revenues	$ 2,670,000
Target goal, number of PSUs (in shares) | shares	291,600
Target goal, home sale revenues	$ 2,797,000
Maximum goal, number of PSUs (in shares) | shares	583,200
Maximum goal, home sale revenues	$ 3,052,000
Fair value per share (in dollars per share) | $ / shares	$ 25.57
Maximum potential expense to be recognized	$ 14,915
Maximum remaining expense to be recognized	7,641	[1]
August 5, 2019 [Member]
Base period revenues	$ 2,982,000
Threshold goal, number of PSUs (in shares) | shares	135,000
Threshold goal, home sale revenues	$ 3,131,000
Target goal, number of PSUs (in shares) | shares	270,000
Target goal, home sale revenues	$ 3,280,000
Maximum goal, number of PSUs (in shares) | shares	540,000
Maximum goal, home sale revenues	$ 3,578,000
Fair value per share (in dollars per share) | $ / shares	$ 32.60
Maximum potential expense to be recognized	$ 17,604	[1]
Maximum remaining expense to be recognized	$ 17,604	[1]
[1]	Dollars in thousands

Note 16 - Commitments and Con_2

Note 16 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2020	Mar. 31, 2020USD ($)
Surety Bonds, Outstanding, Amount		$ 284
Letters of Credit Outstanding, Amount		96.6
Estimated Cost Related to Bonds		152.4
Estimated Cost Related to Letters of Credit		$ 51.2
Right to Acquire Lots Under Options Contract		8,533
COVID-19 Pandemic [Member]
Net New Orders, Increase (Decrease) in Year-over-year Percentage	(53.00%)
Option Contracts [Member]
Letters of Credit Outstanding, Amount		$ 8.2
Earnest Money Deposits		21.4
HomeAmerican [Member]
Letters of Credit Outstanding, Amount		$ 70.9

Note 17 - Derivative Financia_2

Note 17 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative, Gain (Loss) on Derivative, Net, Total	$ 1	$ 0.9
Commitment to Originate Mortgage Loans [Member]
Notional Amount of Forward Rate Commitments and Futures Contracts to Hedge against Mortgage Servicing Rights	221
No Commitment to Originate Mortgage Loans [Member]
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance, Ending Balance	43.7
Forward Sales of Mortgage Backed Securities [Member]
Notional Amount of Forward Rate Commitments and Futures Contracts to Hedge against Mortgage Servicing Rights	$ 162

Note 18 - Lines of Credit (Deta

Note 18 - Lines of Credit (Details Textual) - USD ($) $ in Millions	Nov. 01, 2018	Mar. 31, 2020	Mar. 30, 2020	Dec. 31, 2019	Dec. 24, 2019	Sep. 30, 2019	Aug. 09, 2018	Dec. 26, 2017	Sep. 29, 2017
Letters of Credit Outstanding, Amount		$ 96.6
Warehouse Agreement Borrowings [Member] | Mortgage Repurchase Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 150			$ 75
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		25.7		$ 23.5
Long-term Line of Credit, Total		15		15
Line of Credit Facility, Remaining Borrowing Capacity		959.3
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							$ 75
Line of Credit Facility, Maximum Increase to Borrowing Capacity			$ 110				$ 75
Warehouse Agreement Borrowings, Total		$ 108.7		$ 149.6

Note 19 - Related Party Trans_2

Note 19 - Related Party Transactions (Details Textual) $ in Millions	Oct. 31, 2026	Nov. 01, 2021	Oct. 31, 2021	Nov. 01, 2016ft²	Mar. 31, 2020USD ($)
Cash Contribution Committed to Charitable Foundation | $					$ 1.5
CVentures, Inc. [Member]
Area of Real Estate Property (Square Foot) | 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

Note 20 - Supplemental Guaran_3

Note 20 - Supplemental Guarantor Information (Details Textual)	3 Months Ended
	Mar. 31, 2020
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 20 - Supplemental Guaran_4

Note 20 - Supplemental Guarantor Information - Supplemental Condensed Combining Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 424,625	$ 474,212	$ 476,066	$ 470,139
Total Assets	3,373,712	3,338,356
Accrued and other liabilities	233,034	245,940
Total Liabilities	1,562,635	1,555,871
Total Stockholders' Equity	1,811,077	1,782,485	1,610,706	1,576,000
Total Liabilities and Stockholders' Equity	3,373,712	3,338,356
Homebuilding Segment [Member]
Cash and cash equivalents	386,704	424,186	416,374
Restricted cash	15,762	14,279	8,136
Trade and other receivables	69,301	65,829
Housing completed or under construction	1,215,214	1,036,191
Land and land under development	1,301,433	1,330,384
Total inventories	2,516,647	2,366,575
Intercompany receivables	0	0
Investment in subsidiaries	0	0
Property and equipment, net	62,316	60,414
Deferred tax asset, net	20,660	21,768
Prepaid and other assets	78,002	78,358
Total Assets	3,149,392	3,031,409
Marketable securities	43,985	56,747
Accounts payable	97,980	87,364
Accrued and other liabilities	233,034	245,940
Advances and notes payable to parent and subsidiaries	0	0
Revolving credit facility	15,000	15,000
Senior notes, net	1,036,900	989,422
Total Liabilities	1,382,914	1,337,726
Other assets	506	1,288
Financial Services Segment [Member]
Cash and cash equivalents	22,159	35,747	51,556
Intercompany receivables	0	0
Prepaid and other assets	24,255
Total Assets	224,320	306,947
Marketable securities	43,985	56,747
Mortgage loans held-for-sale, net	133,921	197,021
Advances and notes payable to parent and subsidiaries	0	0
Total Liabilities	179,721	218,145
Accounts payable and accrued liabilities	70,977	68,529
Mortgage repurchase facility	108,744	149,616
Other assets	24,255	17,432
Reportable Legal Entities [Member] | Parent Company [Member]
Cash and cash equivalents	380,318	418,822	411,750	410,127
Total Assets	3,001,114	2,924,942
Accrued and other liabilities		84,088
Total Liabilities	1,190,037	1,142,457
Total Stockholders' Equity	1,811,077	1,782,485
Total Liabilities and Stockholders' Equity	3,001,114	2,924,942
Reportable Legal Entities [Member] | Parent Company [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	380,318	418,822
Restricted cash	0	0
Trade and other receivables	694	624
Housing completed or under construction	0	0
Land and land under development	0	0
Total inventories	0	0
Intercompany receivables	2,265,553	1,936,075
Investment in subsidiaries	279,593	488,993
Property and equipment, net	23,033	23,192
Deferred tax asset, net	18,962	22,508
Prepaid and other assets	32,961	34,728
Total Assets	3,001,114	2,924,942
Marketable securities	0	0
Accounts payable	515	289
Accrued and other liabilities	67,874
Advances and notes payable to parent and subsidiaries	69,748	53,658
Revolving credit facility	15,000	15,000
Senior notes, net	1,036,900	989,422
Total Liabilities	1,190,037	1,142,457
Reportable Legal Entities [Member] | Parent Company [Member] | Financial Services Segment [Member]
Cash and cash equivalents	0	0
Intercompany receivables	0	0
Prepaid and other assets	0
Total Assets	0	0
Mortgage loans held-for-sale, net	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
Other assets		0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash and cash equivalents	22,148	19,643	12,760	10,960
Total Assets	2,697,645	2,538,645
Accrued and other liabilities		156,652
Total Liabilities	2,514,949	2,156,696
Total Stockholders' Equity	182,696	381,949
Total Liabilities and Stockholders' Equity	2,697,645	2,538,645
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	6,386	5,364
Restricted cash	15,762	14,279
Trade and other receivables	68,607	65,205
Housing completed or under construction	1,215,214	1,036,191
Land and land under development	1,301,433	1,330,384
Total inventories	2,516,647	2,366,575
Intercompany receivables	5,919	6,370
Investment in subsidiaries	0	0
Property and equipment, net	39,283	37,222
Deferred tax asset, net	0	0
Prepaid and other assets	45,041	43,630
Total Assets	2,697,645	2,538,645
Marketable securities	0	0
Accounts payable	97,465	87,075
Accrued and other liabilities	162,742
Advances and notes payable to parent and subsidiaries	2,254,742	1,912,969
Revolving credit facility	0	0
Senior notes, net	0	0
Total Liabilities	2,514,949	2,156,696
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Cash and cash equivalents	0	0
Intercompany receivables	0	0
Prepaid and other assets	0
Total Assets	0	0
Mortgage loans held-for-sale, net	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
Other assets		0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents	22,159	35,747	51,556	49,052
Total Assets	290,684	353,960
Accrued and other liabilities		0
Total Liabilities	193,787	246,916
Total Stockholders' Equity	96,897	107,044
Total Liabilities and Stockholders' Equity	290,684	353,960
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	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 asset, net	0	0
Prepaid and other assets	0	0
Total Assets	0	0
Marketable securities	43,985	56,747
Accounts payable	0	0
Accrued and other liabilities	0
Advances and notes payable to parent and subsidiaries	0	0
Revolving credit facility	0	0
Senior notes, net	0	0
Total Liabilities	0	0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Cash and cash equivalents	22,159	35,747
Intercompany receivables	64,666	47,753
Prepaid and other assets	25,953
Total Assets	290,684	353,960
Mortgage loans held-for-sale, net	133,921	197,021
Advances and notes payable to parent and subsidiaries	11,648	23,571
Total Liabilities	193,787	246,916
Accounts payable and accrued liabilities	73,395	73,729
Mortgage repurchase facility	108,744	149,616
Other assets		16,692
Consolidation, Eliminations [Member]
Cash and cash equivalents	0	0	$ 0	$ 0
Total Assets	(2,615,731)	(2,479,191)
Total Liabilities	(2,336,138)	(1,990,198)
Total Stockholders' Equity	(279,593)	(488,993)
Total Liabilities and Stockholders' Equity	(2,615,731)	(2,479,191)
Consolidation, Eliminations [Member] | Homebuilding Segment [Member]
Cash and cash equivalents	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	(2,271,472)	(1,942,445)
Investment in subsidiaries	(279,593)	(488,993)
Property and equipment, net	0	0
Deferred tax asset, net		(740)
Prepaid and other assets	0	0
Total Assets	(2,549,367)	(2,432,178)
Marketable securities	0	0
Accounts payable	0	0
Advances and notes payable to parent and subsidiaries	(2,324,490)	(1,966,627)
Revolving credit facility	0	0
Senior notes, net	0	0
Total Liabilities	(2,322,072)	(1,961,427)
Consolidation, Eliminations [Member] | Financial Services Segment [Member]
Cash and cash equivalents	0	0
Intercompany receivables	(64,666)	(47,753)
Prepaid and other assets	(1,698)
Total Assets	(66,364)	(47,013)
Mortgage loans held-for-sale, net	0	0
Advances and notes payable to parent and subsidiaries	(11,648)	(23,571)
Total Liabilities	(14,066)	(28,771)
Accounts payable and accrued liabilities	(2,418)	(5,200)
Mortgage repurchase facility	0	0
Segment Reconciling Items [Member]
Accrued and other liabilities		5,200
Segment Reconciling Items [Member] | Homebuilding Segment [Member]
Deferred tax asset, net	1,698
Accrued and other liabilities	$ 2,418
Segment Reconciling Items [Member] | Financial Services Segment [Member]
Other assets		$ 740

Note 20 - Supplemental Guaran_5

Note 20 - Supplemental Guarantor Information - Supplemental Condensed Combining Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Inventory impairments	$ 0	$ (610)
Gross profit	138,438	122,116
Pretax income (loss)	48,562	55,606
(Provision) benefit for income taxes	(11,802)	(15,056)
Net Income	36,760	40,550
Other comprehensive income related to available-for-sale securities, net of tax	0	0
Comprehensive income	36,760	40,550
Homebuilding Segment [Member]
Revenues	697,085	647,278
Cost of sales	(558,647)	(524,552)
Inventory impairments	0	(610)
Selling, general and administrative expenses	(89,321)	(82,261)
Equity income of subsidiaries	0	0
Interest and other income	1,889	2,391
Other income (expense), net	(1,337)	(1,191)
Pretax income (loss)	49,669	41,055
Financial Services Segment [Member]
Revenues	21,886	17,404
Other income (expense), net	(12,064)	6,104
Pretax income (loss)	(1,107)	14,551
Reportable Legal Entities [Member] | Parent Company [Member]
Gross profit	0	0
Pretax income (loss)	34,245	37,143
(Provision) benefit for income taxes	2,515	3,407
Net Income	36,760	40,550
Other comprehensive income related to available-for-sale securities, net of tax	0	0
Comprehensive income	36,760	40,550
Reportable Legal Entities [Member] | Parent Company [Member] | Homebuilding Segment [Member]
Revenues	0	0
Cost of sales	0	0
Inventory impairments	0	0
Selling, general and administrative expenses	(10,782)	(17,438)
Equity income of subsidiaries	43,236	52,165
Interest and other income	1,783	2,409
Other income (expense), net	8	7
Pretax income (loss)	34,245	37,143
Reportable Legal Entities [Member] | Parent Company [Member] | Financial Services Segment [Member]
Pretax income (loss)	0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Gross profit	138,438	122,116
Pretax income (loss)	58,976	56,372
(Provision) benefit for income taxes	(14,333)	(15,264)
Net Income	44,643	41,108
Other comprehensive income related to available-for-sale securities, net of tax	0	0
Comprehensive income	44,643	41,108
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Revenues	697,085	647,278
Cost of sales	(558,647)	(524,552)
Inventory impairments	0	(610)
Selling, general and administrative expenses	(78,408)	(64,701)
Equity income of subsidiaries	0	0
Interest and other income	291	155
Other income (expense), net	(1,345)	(1,198)
Pretax income (loss)	58,976	56,372
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Pretax income (loss)	0	0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Gross profit	0	0
Pretax income (loss)	(1,423)	14,256
(Provision) benefit for income taxes	16	(3,199)
Net Income	(1,407)	11,057
Other comprehensive income related to available-for-sale securities, net of tax	0	0
Comprehensive income	(1,407)	11,057
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Homebuilding Segment [Member]
Revenues	0	0
Cost of sales	0	0
Inventory impairments	0	0
Selling, general and administrative expenses	0	0
Equity income of subsidiaries	0	0
Interest and other income	0	0
Other income (expense), net	0	0
Pretax income (loss)	0	0
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Financial Services Segment [Member]
Pretax income (loss)	(1,423)	14,256
Consolidation, Eliminations [Member]
Gross profit	0	0
Pretax income (loss)	(43,236)	(52,165)
(Provision) benefit for income taxes	0	0
Net Income	(43,236)	(52,165)
Other comprehensive income related to available-for-sale securities, net of tax	0	0
Comprehensive income	(43,236)	(52,165)
Consolidation, Eliminations [Member] | Homebuilding Segment [Member]
Revenues	0	0
Cost of sales	0	0
Inventory impairments	0	0
Equity income of subsidiaries	(43,236)	(52,165)
Interest and other income	(185)	(173)
Other income (expense), net	0	0
Pretax income (loss)	(43,552)	(52,460)
Consolidation, Eliminations [Member] | Financial Services Segment [Member]
Pretax income (loss)	316	295
Segment Reconciling Items [Member] | Homebuilding Segment [Member]
Selling, general and administrative expenses	$ (131)	$ (122)

Note 20 - Supplemental Guaran_6

Note 20 - Supplemental Guarantor Information - Supplemental Condensed Combining Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net cash provided by (used in) operating activities	$ (37,173)	$ 54,348
Net cash provided by (used in) investing activities	(7,018)	(6,434)
Payments from (advances to) subsidiaries	0	0
Payments on mortgage repurchase facility, net	(40,872)	(31,959)
Proceeds from issuance of senior notes	298,050	0
Repayment of senior notes	(250,000)	0
Dividend payments	(20,768)	(17,115)
Issuance of shares under stock-based compensation programs, net	8,194	7,087
Net cash provided by (used in) financing activities	(5,396)	(41,987)
Net increase (decrease) in cash and cash equivalents	(49,587)	5,927
Beginning of period	474,212	470,139
Cash and cash equivalents	424,625	476,066
Reportable Legal Entities [Member] | Parent Company [Member]
Net cash provided by (used in) operating activities	(13,287)	(18,145)
Net cash provided by (used in) investing activities	(60,693)	29,796
Payments from (advances to) subsidiaries	0	0
Payments on mortgage repurchase facility, net	0	0
Proceeds from issuance of senior notes	298,050
Repayment of senior notes	(250,000)
Dividend payments	(20,768)	(17,115)
Issuance of shares under stock-based compensation programs, net	8,194	7,087
Net cash provided by (used in) financing activities	35,476	(10,028)
Net increase (decrease) in cash and cash equivalents	(38,504)	1,623
Beginning of period	418,822	410,127
Cash and cash equivalents	380,318	411,750
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	(89,277)	31,508
Net cash provided by (used in) investing activities	(6,384)	(6,094)
Payments from (advances to) subsidiaries	98,166	(23,614)
Payments on mortgage repurchase facility, net	0	0
Proceeds from issuance of senior notes	0
Repayment of senior notes	0
Dividend payments	0	0
Issuance of shares under stock-based compensation programs, net	0	0
Net cash provided by (used in) financing activities	98,166	(23,614)
Net increase (decrease) in cash and cash equivalents	2,505	1,800
Beginning of period	19,643	10,960
Cash and cash equivalents	22,148	12,760
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	65,391	40,985
Net cash provided by (used in) investing activities	(506)	(93)
Payments from (advances to) subsidiaries	(37,601)	(6,429)
Payments on mortgage repurchase facility, net	(40,872)	(31,959)
Proceeds from issuance of senior notes	0
Repayment of senior notes	0
Dividend payments	0	0
Issuance of shares under stock-based compensation programs, net	0	0
Net cash provided by (used in) financing activities	(78,473)	(38,388)
Net increase (decrease) in cash and cash equivalents	(13,588)	2,504
Beginning of period	35,747	49,052
Cash and cash equivalents	22,159	51,556
Consolidation, Eliminations [Member]
Net cash provided by (used in) operating activities	0	0
Net cash provided by (used in) investing activities	60,565	(30,043)
Payments from (advances to) subsidiaries	(60,565)	30,043
Payments on mortgage repurchase facility, net	0	0
Proceeds from issuance of senior notes	0
Repayment of senior notes	0
Dividend payments	0	0
Issuance of shares under stock-based compensation programs, net	0	0
Net cash provided by (used in) financing activities	(60,565)	30,043
Net increase (decrease) in cash and cash equivalents	0	0
Beginning of period	0	0
Cash and cash equivalents	$ 0	$ 0