M/I Homes (MHO) 10-Q23 Oct 152015 Q3 Quarterly reportFinancial data

Company Profile

DEI Document

DEI Document - shares	9 Months Ended
DEI Document - shares	Sep. 30, 2015	Oct. 21, 2015
Entity Information [Line Items]
Entity Registrant Name	M I HOMES INC
Entity Central Index Key	799,292
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		24,648,864

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS:
Cash and cash equivalents	$ 25,055	$ 15,535
Restricted cash	3,071	6,951
Mortgage loans held for sale	77,550	92,794
Inventory	1,133,414	918,589
Property and equipment - net	11,841	11,490
Investments in unconsolidated joint ventures	33,282	27,769
Deferred income taxes	70,943	94,412
Other assets	50,846	43,870
Total assets	1,406,002	1,211,410
LIABILITIES:
Accounts payable	95,950	75,338
Customer deposits	18,976	11,759
Other liabilities	83,940	79,723
Community development district (“CDD”) obligations	1,159	2,571
Obligation for consolidated inventory not owned	11,418	608
Notes payable bank - homebuilding operations	156,100	30,000
Notes payable bank - financial service operations	73,239	85,379
Notes payable - other	9,363	9,518
Convertible senior subordinated notes due 2017	57,500	57,500
Convertible senior subordinated notes due 2018	86,250	86,250
Senior notes	228,769	228,469
TOTAL LIABILITIES	822,664	667,115
Commitments and contingencies	0	0
SHAREHOLDERS' EQUITY:
Preferred shares - $.01 par value; authorized 2,000,000 shares; 2,000 shares issued and outstanding at both September 30, 2015 and December 31, 2014	48,163	48,163
Common shares - $.01 par value; authorized 58,000,000 shares at both September 30, 2015 and December 31, 2014; issued 27,092,723 shares at both September 30, 2015 and December 31, 2014	271	271
Additional paid-in capital	240,071	238,560
Retained earnings	343,371	308,539
Treasury shares - at cost - 2,443,859 and 2,579,813 shares at September 30, 2015 and December 31, 2014, respectively	(48,538)	(51,238)
TOTAL SHAREHOLDERS' EQUITY	583,338	544,295
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,406,002	$ 1,211,410

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Parentheticals - Balance Sheet [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	58,000,000	58,000,000
Common Stock, Shares, Issued	27,092,723	27,092,723
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Shares Issued	2,000	2,000
Preferred Stock, Shares Outstanding	2,000	2,000
Treasury Stock, Shares	2,443,859	2,579,813

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue	$ 363,457	$ 330,767	$ 949,472	$ 847,216
Costs and Expenses [Abstract]
Land and housing	285,416	261,636	744,194	666,817
Impairment of inventory and investment in unconsolidated joint ventures	0	622	0	1,426
General and administrative	23,651	21,724	64,690	61,320
Selling	24,270	21,955	64,891	58,175
Equity in income of unconsolidated joint ventures	(36)	(22)	(248)	(62)
Interest	3,658	2,649	11,870	9,549
Total costs and expenses	336,959	308,564	885,397	797,225
Income before income taxes	26,498	22,203	64,075	49,991
Provision for income taxes	10,928	8,586	25,587	10,188
Net income	15,570	13,617	38,488	39,803
Preferred Dividends	1,218	1,218	3,656	3,656
Net income to common shareholders	$ 14,352	$ 12,399	$ 34,832	$ 36,147
Earnings per common share:
Basic	$ 0.58	$ 0.51	$ 1.42	$ 1.48
Diluted	$ 0.51	$ 0.44	$ 1.25	$ 1.30
Weighted Average Number of Shares Outstanding [Abstract]
Basic	24,605	24,474	24,551	24,454
Diluted	30,067	29,921	30,021	29,900

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Preferred Shares [Member]	Common Shares [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Shares [Member]
Shares Outstanding, Beginning Balance at Dec. 31, 2014		2,000	24,512,910
Stockholders' Equity, Beginning Balance at Dec. 31, 2014	$ 544,295	$ 48,163	$ 271	$ 238,560	$ 308,539	$ (51,238)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	38,488				38,488
Dividends, Preferred Stock	(3,656)				(3,656)
Stock options exercised, shares			72,640
Stock options exercised	1,035			(408)		1,443
Stock-based compensation expense	3,073			3,073
Deferral of executive and director compensation	103			103
Executive and director deferred compensation distributions shares			63,314
Executive and director deferred compensation distributions	0			(1,257)		1,257
Shares Outstanding, Ending Balance at Sep. 30, 2015		2,000	24,648,864
Stockholders' Equity, Ending Balance at Sep. 30, 2015	$ 583,338	$ 48,163	$ 271	$ 240,071	$ 343,371	$ (48,538)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 38,488	$ 39,803
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	0	1,426
Equity in income of unconsolidated joint ventures	(248)	(62)
Mortgage loan originations	(537,385)	(470,345)
Proceeds from the sale of mortgage loans	553,390	477,728
Fair value adjustment of mortgage loans held for sale	(761)	(2,556)
Capitalization of originated Mortgage Servicing Rights	(3,789)	(3,046)
Amortization of Mortgage Servicing Rights (MSRs)	729	548
Depreciation	4,823	3,733
Amortization of debt discount and debt issue costs	2,390	2,329
Stock-based compensation expense	3,073	2,504
Deferred Income Tax Expense	23,469	17,320
Deferred tax asset valuation allowances	0	(9,291)
Change in assets and liabilities:
Cash held in escrow	265	92
Inventory	(203,144)	(196,139)
Other assets	(8,645)	(4,582)
Accounts payable	20,612	27,647
Customer deposits	7,217	2,940
Accrued compensation	(5,016)	(3,247)
Other liabilities	9,336	6,487
Net cash (used in) provided by operating activities	(95,196)	(106,711)
INVESTING ACTIVITIES:
Change in restricted cash	3,615	4,912
Purchase of property and equipment	(2,003)	(2,347)
Return of investment from Unconsolidated LLCs	0	619
Investment in unconsolidated joint ventures	(10,725)	(16,818)
Net Proceeds from Sale of Mortgage Servicing Rights	3,065	2,135
Net cash used in investing activities	(6,048)	(11,499)
FINANCING ACTIVITIES:
Proceeds from bank borrowings - homebuilding operations	329,400	0
Repayments of bank borrowings - homebuilding operations	(203,300)	0
Net proceeds from (Repayments of) bank borrowings - financial services operations	(12,140)	8,149
Principal repayments of notes payable-other and CDD bond obligations	(155)	740
Dividends paid on preferred shares	(3,656)	(3,656)
Debt issue costs	(420)	(40)
Proceeds from exercise of stock options	1,035	1,460
Net cash (used in) provided by financing activities	110,764	6,653
Net increase (decrease) in cash and cash equivalents	9,520	(111,557)
Cash and cash equivalents balance at beginning of period	15,535	128,725
Cash and cash equivalents balance at end of period	25,055	17,168
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	5,705	3,074
Income taxes	1,694	551
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	(1,412)	(74)
Consolidated inventory not owned	10,810	(75)
Distribution of single-family lots from unconsolidated joint ventures	$ 5,460	$ 10,758

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2015
Basis of Presentation [Abstract]
Basis of Accounting [Text Block]	Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements (the “financial statements”) of M/I Homes, Inc. and its subsidiaries (the “Company”) and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. The financial statements include the accounts of the Company. All intercompany transactions have been eliminated. Results for the interim period are not necessarily indicative of results for a full year. In the opinion of management, the accompanying financial statements reflect all adjustments (all of which are normal and recurring in nature) necessary for a fair presentation of financial results for the interim periods presented. These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the “ 2014 Form 10-K”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows. With regard to the Company, estimates and assumptions are inherent in calculations relating to valuation of inventory and investment in unconsolidated joint ventures, property and equipment depreciation, valuation of derivative financial instruments, accounts payable on inventory, accruals for costs to complete inventory, accruals for warranty claims, accruals for self-insured general liability claims, litigation, accruals for health care and workers’ compensation, accruals for guaranteed or indemnified loans, stock-based compensation expense, income taxes, and contingencies. Items that could have a significant impact on these estimates and assumptions include the risks and uncertainties listed in “Item 1A. Risk Factors” in Part I of our 2014 Form 10-K, as the same may be updated from time to time in our subsequent filings with the SEC. Impact of New Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605, Revenue Recognition , and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August 2015, the FASB issued ASU No. 2015-14, R evenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period . Early adoption is permitted as of the original effective date for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company’s consolidated financial statements and disclosures. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs would not be affected by the amendments in ASU 2015-03. ASU 2015-03 will be effective for the Company beginning January 1, 2016, with early adoption permitted. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. The Company is currently evaluating the impact the adoption of ASU 2015-03 may have on our consolidated financial statements or disclosures and expects adoption to impact our consolidated balance sheet but not our results of operations. In August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (“ASU 2015-15”), which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company believes the adoption of ASU 2015-15 will not have a material effect on its consolidated financial statements and disclosures.

Inventory and Capitalized Inter

Inventory and Capitalized Interest	9 Months Ended
Inventory and Capitalized Interest	Sep. 30, 2015
Inventory [Abstract]
Inventory Disclosure [Text Block]	Inventory and Capitalized Interest Inventory Inventory is recorded at cost, unless events and circumstances indicate that the carrying value of the land is impaired, at which point the inventory is written down to fair value (see Note 4 for additional details relating to our procedures for evaluating our inventories for impairment). Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. A summary of the Company’s inventory as of September 30, 2015 and December 31, 2014 is as follows: (In thousands) September 30, 2015 December 31, 2014 Single-family lots, land and land development costs $ 539,517 $ 463,198 Land held for sale 5,803 10,647 Homes under construction 488,041 371,119 Model homes and furnishings - at cost (less accumulated depreciation: September 30, 2015 - $8,052; December 31, 2014 - $7,010) 65,482 46,780 Community development district infrastructure 1,159 2,571 Land purchase deposits 21,994 23,495 Consolidated inventory not owned 11,418 779 Total inventory $ 1,133,414 $ 918,589 Single-family lots, land and land development costs include raw land that the Company has purchased to develop into lots, costs incurred to develop the raw land into lots, and lots for which development has been completed, but which have not yet been used to start construction of a home. Homes under construction include homes that are in various stages of construction. As of September 30, 2015 and December 31, 2014 , we had 962 homes (with a carrying value of $183.8 million ) and 979 homes (with a carrying value of $186.7 million ), respectively, included in homes under construction that were not subject to a sales contract. Model homes and furnishings include homes that are under construction or have been completed and are being used as sales models. The amount also includes the net book value of furnishings included in our model homes. Depreciation on model home furnishings is recorded using an accelerated method over the estimated useful life of the assets, typically three years. Land purchase deposits include both refundable and non-refundable amounts paid to third party sellers relating to the purchase of land. On an ongoing basis, the Company evaluates the land option agreements relating to the land purchase deposits. In the period during which the Company makes the decision not to proceed with the purchase of land under an agreement, the Company expenses any deposits and accumulated pre-acquisition costs relating to such agreement. Capitalized Interest The Company capitalizes interest during land development and home construction. Capitalized interest is charged to land and housing costs and expensed as the related inventory is delivered to a third party. The summary of capitalized interest for the three and nine months ended September 30, 2015 and 2014 is as follows : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Capitalized interest, beginning of period $ 16,437 $ 14,831 $ 15,296 $ 13,802 Interest capitalized to inventory 5,006 5,161 13,466 13,141 Capitalized interest charged to land and housing costs and expenses (4,318 ) (4,281 ) (11,637 ) (11,232 ) Capitalized interest, end of period $ 17,125 $ 15,711 $ 17,125 $ 15,711 Interest incurred $ 8,664 $ 7,810 $ 25,336 $ 22,690

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures (Notes)	9 Months Ended
Investment in Unconsolidated Joint Ventures (Notes)	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 3. Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures In order to minimize our investment and risk of land exposure in a single location, we have periodically partnered with other land developers or homebuilders to share in the land investment and development of a property through joint ownership and development agreements, joint ventures, and other similar arrangements. During the nine month period ended September 30, 2015 , we increased our total investment in such joint venture arrangements by $5.5 million from $27.8 million at December 31, 2014 to $33.3 million at September 30, 2015 , which was driven primarily by our increased cash contributions to our unconsolidated joint ventures of $10.7 million , offset partially by our increased lot distributions from unconsolidated joint ventures of $5.5 million . We use the equity method of accounting for investments in unconsolidated joint ventures over which we exercise significant influence but do not have a controlling interest. Under the equity method, our share of the unconsolidated joint ventures’ earnings or loss, if any, is included in our statement of income. The Company assesses its investments in unconsolidated joint ventures for recoverability on a quarterly basis. Refer to Note 4 for additional details relating to our procedures for evaluating our investments for impairment. For joint venture arrangements where a special purpose entity is established to own the property, we generally enter into limited liability company or similar arrangements (“LLCs”) with the other partners. The Company’s ownership in these LLCs as of September 30, 2015 ranged from 25% to 74% and as of December 31, 2014 ranged from 25% to 61% . These entities typically engage in land development activities for the purpose of distributing or selling developed lots to the Company and its partners in the LLC. We believe that the Company’s maximum exposure related to its investment in these unconsolidated joint ventures as of September 30, 2015 is the amount invested of $33.3 million , which is reported as Investment in Unconsolidated Joint Ventures on our Unaudited Condensed Consolidated Balance Sheets, in addition to a $2.5 million note due to the Company from one of the unconsolidated joint ventures (reported in Other Assets), although we expect to invest further amounts in these unconsolidated joint ventures as development of the properties progresses. Included in the Company’s investment in unconsolidated joint ventures at September 30, 2015 and December 31, 2014 were $0.4 million and $0.2 million , respectively, of capitalized interest and other costs. Variable Interest Entities With respect to our investments in these LLCs, we are required, under ASC 810-10, Consolidation (“ASC 810”), to evaluate whether or not such entities should be consolidated into our financial statements. We initially perform these evaluations when each new entity is created and upon any events that require reconsideration of the entity. See Note 1, “Summary of Significant Accounting Policies - Variable Interest Entities” in the Company’s 2014 Form 10-K for additional information regarding the Company’s methodology for evaluating entities for consolidation. As of September 30, 2015 and December 31, 2014 , we have determined that one of the LLCs in which we have an interest meets the requirements of a variable interest entity (“VIE”) due to a lack of equity at risk in the entity. However, we have determined that we do not have substantive control over the VIE as we do not have the ability to control the activities that most significantly impact its economic performance. As a result, we are not required to consolidate the VIE into our financial statements, and we instead record the VIE in Investment in Unconsolidated Joint Ventures on our Unaudited Condensed Consolidated Balance Sheets. Land Option Agreements In the ordinary course of business, the Company enters into land option or purchase agreements for which we generally pay non-refundable deposits. Pursuant to these land option agreements, the Company provides a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. In accordance with ASC 810, we analyze our land option or purchase agreements to determine whether the corresponding land sellers are VIEs and, if so, whether we are the primary beneficiary, as further described in Note 1, “Summary of Significant Accounting Policies - Land Option Agreements” in the Company’s 2014 Form 10-K. If we are deemed to be the primary beneficiary of the VIE, we will consolidate the VIE in our consolidated financial statements and reflect such assets and liabilities in our Consolidated Inventory not Owned in our Unaudited Condensed Consolidated Balance Sheets. At both September 30, 2015 and December 31, 2014 , we have concluded that we were not the primary beneficiary of any VIEs from which we are purchasing under land option or purchase agreements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2015
Fair Value Measurements [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements There are three measurement input levels for determining fair value: Level 1, Level 2, and Level 3. Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets Measured on a Recurring Basis The Company measures both mortgage loans held for sale and interest rate lock commitments (“IRLCs”) at fair value. Fair value measurement results in a better presentation of the changes in fair values of the loans and the derivative instruments used to economically hedge them. In the normal course of business, our financial services segment enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within established time frames. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to an investor. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into optional or mandatory delivery forward sale contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sale contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. The Company does not engage in speculative trading or derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers or investors are undesignated derivatives, and accordingly, are marked to fair value through earnings. Changes in fair value measurements are included in earnings in the accompanying statements of income. The fair value of mortgage loans held for sale is estimated based primarily on published prices for mortgage-backed securities with similar characteristics. To calculate the effects of interest rate movements, the Company utilizes applicable published mortgage-backed security prices, and multiplies the price movement between the rate lock date and the balance sheet date by the notional loan commitment amount. The Company generally sells loans on a servicing released basis, and receives a servicing release premium upon sale. Thus, the value of the servicing rights included in the fair value measurement is based upon contractual terms with investors and depends on the loan type. The Company applies a fallout rate to IRLCs when measuring the fair value of rate lock commitments. Fallout is defined as locked loan commitments for which the Company does not close a mortgage loan and is based on management’s judgment and company experience. The fair value of the Company’s forward sales contracts to broker/dealers solely considers the market price movement of the same type of security between the trade date and the balance sheet date. The market price changes are multiplied by the notional amount of the forward sales contracts to measure the fair value. Interest Rate Lock Commitments. IRLCs are extended to certain home-buying customers who have applied for a mortgage loan and meet certain defined credit and underwriting criteria. Typically, the IRLCs will have a duration of less than six months; however, in certain markets, the duration could extend to twelve months. Some IRLCs are committed to a specific third party investor through the use of best-efforts whole loan delivery commitments matching the exact terms of the IRLC loan. Uncommitted IRLCs are considered derivative instruments and are fair value adjusted, with the resulting gain or loss recorded in current earnings. Forward Sales of Mortgage-Backed Securities. Forward sales of mortgage-backed securities (“FMBSs”) are used to protect uncommitted IRLC loans against the risk of changes in interest rates between the lock date and the funding date. FMBSs related to uncommitted IRLCs are classified and accounted for as non-designated derivative instruments and are recorded at fair value, with gains and losses recorded in current earnings. Mortgage Loans Held for Sale. Mortgage loans held for sale consists primarily of single-family residential loans collateralized by the underlying property. Generally, all of the mortgage loans and related servicing rights are sold to third-party investors shortly after origination. During the intervening period between when a loan is closed and when it is sold to an investor, the interest rate risk is covered through the use of a best-efforts contract or by FMBSs. The FMBSs are classified and accounted for as non-designated derivative instruments, with gains and losses recorded in current earnings. The table below shows the notional amounts of our financial instruments at September 30, 2015 and December 31, 2014 : Description of Financial Instrument (in thousands) September 30, 2015 December 31, 2014 Best efforts contracts and related committed IRLCs $ 5,554 $ 3,072 Uncommitted IRLCs 79,604 28,028 FMBSs related to uncommitted IRLCs 80,000 41,000 Best efforts contracts and related mortgage loans held for sale 11,057 61,233 FMBSs related to mortgage loans held for sale 64,000 27,000 Mortgage loans held for sale covered by FMBSs 63,977 26,825 The table below shows the level and measurement of assets and liabilities measured on a recurring basis at September 30, 2015 and December 31, 2014 : Description of Financial Instrument (in thousands) Fair Value Measurements September 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 77,550 $ — $ 77,550 $ — Forward sales of mortgage-backed securities (1,270 ) — (1,270 ) — Interest rate lock commitments 985 — 985 — Best-efforts contracts (201 ) — (201 ) — Total $ 77,064 $ — $ 77,064 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 92,794 $ — $ 92,794 $ — Forward sales of mortgage-backed securities (182 ) — (182 ) — Interest rate lock commitments 288 — 288 — Best-efforts contracts 53 — 53 — Total $ 92,953 $ — $ 92,953 $ — The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, Description (in thousands) 2015 2014 2015 2014 Mortgage loans held for sale $ 1,585 $ (959 ) $ 761 $ 2,556 Forward sales of mortgage-backed securities (2,520 ) 398 (1,088 ) (786 ) Interest rate lock commitments 924 (144 ) 696 753 Best-efforts contracts (125 ) 164 (253 ) (428 ) Total (loss) gain recognized $ (136 ) $ (541 ) $ 116 $ 2,095 The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item): Asset Derivatives Liability Derivatives September 30, 2015 September 30, 2015 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 1,270 Interest rate lock commitments Other assets 985 Other liabilities — Best-efforts contracts Other assets — Other liabilities 201 Total fair value measurements $ 985 $ 1,471 Asset Derivatives Liability Derivatives December 31, 2014 December 31, 2014 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 182 Interest rate lock commitments Other assets 288 Other liabilities — Best-efforts contracts Other assets 58 Other liabilities 5 Total fair value measurements $ 346 $ 187 Assets Measured on a Non-Recurring Basis Inventory. The Company assesses inventory for recoverability on a quarterly basis based on the difference in the carrying value of the inventory and its fair value at the time of the evaluation. Determining the fair value of a community’s inventory involves a number of variables, estimates and projections, which are Level 3 measurement inputs. See Note 1, “Summary of Significant Accounting Policies - Inventory” in the Company’s 2014 Form 10-K for additional information regarding the Company’s methodology for determining fair value. The Company uses significant assumptions to evaluate the recoverability of its inventory, such as estimated average selling price, construction and development costs, absorption pace (reflecting any product mix change strategies implemented or to be implemented), selling strategies, alternative land uses (including disposition of all or a portion of the land owned), or discount rates. Changes in these assumptions could materially impact future cash flow and fair value estimates and may lead the Company to incur additional impairment charges in the future. Our analysis is conducted only if indicators of a decline in value of our inventory exist, which include, among other things, declines in gross margin on sales contracts in backlog or homes that have been delivered, slower than anticipated absorption pace, declines in average sales price or high incentive offers by management to improve absorptions, declines in margins regarding future land sales, or declines in the value of the land itself as a result of third party appraisals. If communities are not recoverable based on the estimated future undiscounted cash flows, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. The table below shows the level and measurement of the Company's assets measured on a non-recurring basis as of and for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, Description (in thousands) Hierarchy 2015 2014 (2) 2015 2014 (2) Adjusted basis of inventory (1) Level 3 $ — $ 76 $ — $ 1,605 Total losses — 622 — 1,426 Initial basis of inventory $ — $ 698 $ — $ 3,031 (1) The fair values in the table above represent only assets whose carrying values were adjusted in the respective period. (2) The carrying values for these assets may have subsequently increased or decreased from the fair value reported due to activities that have occurred since the measurement date. Investment In Unconsolidated Joint Ventures. We evaluate our investments in unconsolidated joint ventures for impairment on a quarterly basis based on the difference in the investment’s carrying value and its fair value at the time of the evaluation. If the Company has determined that the decline in value is other than temporary, the Company would write down the value of the investment to its estimated fair value. Determining the fair value of investments in unconsolidated joint ventures involves a number of variables, estimates and assumptions, which are Level 3 measurement inputs. See Note 1, “Summary of Significant Accounting Policies - Investment in Unconsolidated Joint Ventures” in the Company’s 2014 Form 10-K for additional information regarding the Company’s methodology for determining fair value. Because of the high degree of judgment involved in developing these assumptions, it is possible that changes in these assumptions could materially impact future cash flow and fair value estimates of the investments which may lead the Company to incur additional impairment charges in the future. During the three and nine months ended September 30, 2015 and 2014 , the Company did not record any impairment charges on its investments in unconsolidated joint ventures. Financial Instruments Counterparty Credit Risk. To reduce the risk associated with losses that would be recognized if counterparties failed to perform as contracted, the Company limits the entities with whom management can enter into commitments. This risk of accounting loss is the difference between the market rate at the time of non-performance by the counterparty and the rate to which the Company committed. The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2015 and December 31, 2014 . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). September 30, 2015 December 31, 2014 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 28,126 $ 28,126 $ 22,486 $ 22,486 Mortgage loans held for sale 77,550 77,550 92,794 92,794 Split dollar life insurance policies 202 202 187 187 Notes receivable 3,172 3,107 4,288 3,793 Commitments to extend real estate loans 985 985 289 289 Best-efforts contracts for committed IRLCs and mortgage loans held for sale — — 58 58 Liabilities: Notes payable - homebuilding operations 156,100 156,100 30,000 30,000 Notes payable - financial services operations 73,239 73,239 85,379 85,379 Notes payable - other 9,363 10,201 9,518 9,089 Convertible senior subordinated notes due 2017 57,500 63,969 57,500 67,634 Convertible senior subordinated notes due 2018 86,250 84,956 86,250 87,544 Senior notes due 2018 228,769 234,025 228,469 239,488 Best-efforts contracts for committed IRLCs and mortgage loans held for sale 201 201 — — Forward sales of mortgage-backed securities 1,270 1,270 182 182 Off-Balance Sheet Financial Instruments: Letters of credit — 837 — 881 The following methods and assumptions were used by the Company in estimating its fair value disclosures of financial instruments at September 30, 2015 and December 31, 2014 : Cash, Cash Equivalents and Restricted Cash. The carrying amounts of these items approximate fair value because they are short-term by nature. Mortgage Loans Held for Sale, Forward Sales of Mortgage-Backed Securities, Commitments to Extend Real Estate Loans, Best-Efforts Contracts for Committed IRLCs and Mortgage Loans Held for Sale, 2017 Convertible Senior Subordinated Notes, 2018 Convertible Senior Subordinated Notes and 2018 Senior Notes. The fair value of these financial instruments was determined based upon market quotes at September 30, 2015 and December 31, 2014 . The market quotes used were quoted prices for similar assets or liabilities along with inputs taken from observable market data by correlation. The inputs were adjusted to account for the condition of the asset or liability. Split Dollar Life Insurance Policies and Notes Receivable. The estimated fair value was determined by calculating the present value of the amounts based on the estimated timing of receipts using discount rates that incorporate management’s estimate of risk associated with the corresponding note receivable. Notes Payable - Homebuilding Operations. The interest rate available to the Company during the quarter ended September 30, 2015 fluctuated with the Alternate Base Rate or the Eurodollar Rate for the Company’s $400 million unsecured revolving credit facility dated July 18, 2013 , as amended on October 20, 2014 (the “Credit Facility”), and thus the carrying value is a reasonable estimate of fair value. Refer to Note 7 for additional information regarding the Credit Facility. Notes Payable - Financial Services Operations. M/I Financial, LLC (“M/I Financial”) is a party to two credit agreements: (1) a $110 million secured mortgage warehousing agreement, dated March 29, 2013, as most recently amended on June 26, 2015 (the “MIF Mortgage Warehousing Agreement”); and (2) a $15 million mortgage repurchase agreement dated November 13, 2012, as most recently amended on November 4, 2014 (the “MIF Mortgage Repurchase Facility”). For each of these credit facilities, the interest rate is based on a variable rate index, and thus their carrying value is a reasonable estimate of fair value. The interest rate available to M/I Financial during the third quarter of 2015 fluctuated with LIBOR. Refer to Note 7 for additional information regarding the MIF Mortgage Warehousing Agreement and the MIF Mortgage Repurchase Facility. Notes Payable - Other. The estimated fair value was determined by calculating the present value of the future cash flows using the Company’s current incremental borrowing rate. Letters of Credit. Letters of credit of $37.7 million and $33.6 million represent potential commitments at September 30, 2015 and December 31, 2014 , respectively. The letters of credit generally expire within one or two years. The estimated fair value of letters of credit was determined using fees currently charged for similar agreements.

Guarantees and Indemnifications

Guarantees and Indemnifications	9 Months Ended
Guarantees and Indemnifications	Sep. 30, 2015
Guarantees [Abstract]
Guarantees [Text Block]	Guarantees and Indemnifications Warranty Warranty reserves are recorded for warranties under our Home Builder’s Limited Warranty (“HBLW”) and our 10-year (Texas markets only) and 30-year (all markets excluding Texas) transferable structural warranty in Other Liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. The warranty reserves for the HBLW are established as a percentage of average sales price and adjusted based on historical payment patterns determined, generally, by geographic area and recent trends. Factors that are given consideration in determining the HBLW reserves include: (1) the historical range of amounts paid per average sales price on a home; (2) type and mix of amenity packages added to the home; (3) any warranty expenditures not considered to be normal and recurring; (4) timing of payments; (5) improvements in quality of construction expected to impact future warranty expenditures; and (6) conditions that may affect certain projects and require a different percentage of average sales price for those specific projects. Changes in estimates for warranties occur due to changes in the historical payment experience and differences between the actual payment pattern experienced during the period and the historical payment pattern used in our evaluation of the warranty reserve balance at the end of each quarter. Actual future warranty costs could differ from our current estimated amount. Our warranty reserves for our transferable structural warranty programs are established on a per-unit basis. While the structural warranty reserve is recorded as each house closes, the sufficiency of the structural warranty per unit charge and total reserve is re-evaluated on an annual basis, with the assistance of an actuary, using our own historical data and trends, industry-wide historical data and trends, and other project specific factors. The reserves are also evaluated quarterly and adjusted if we encounter activity that is inconsistent with the historical experience used in the annual analysis. These reserves are subject to variability due to uncertainties regarding structural defect claims for products we build, the markets in which we build, claim settlement history, insurance and legal interpretations, among other factors. While we believe that our warranty reserves are sufficient to cover our projected costs, there can be no assurances that historical data and trends will accurately predict our actual warranty costs. A summary of warranty activity for the three and nine months ended September 30, 2015 and 2014 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Warranty reserves, beginning of period $ 10,638 $ 11,220 $ 12,671 $ 12,291 Warranty expense on homes delivered during the period 2,263 1,923 5,847 4,962 Changes in estimates for pre-existing warranties 905 1,047 1,580 1,937 Settlements made during the period (3,328 ) (3,508 ) (9,620 ) (8,508 ) Warranty reserves, end of period $ 10,478 $ 10,682 $ 10,478 $ 10,682 Guarantees In the ordinary course of business, M/I Financial, a 100%-owned subsidiary of M/I Homes, Inc., enters into agreements that guarantee certain purchasers of its mortgage loans that M/I Financial will repurchase a loan if certain conditions occur, primarily if the mortgagor does not meet the terms of the loan within the first six months after the sale of the loan. Loans totaling approximately $18.9 million and $33.4 million were covered under these guarantees as of September 30, 2015 and December 31, 2014 , respectively. The decrease in loans covered by these guarantees from December 31, 2014 is a result of a change in the mix of investors and their related purchase terms. A portion of the revenue paid to M/I Financial for providing the guarantees on these loans was deferred at September 30, 2015 , and will be recognized in income as M/I Financial is released from its obligation under the guarantees. The risk associated with the guarantees above is offset by the value of the underlying assets. M/I Financial has received inquiries concerning underwriting matters from purchasers of its loans regarding certain loans totaling approximately $7.2 million and $9.1 million at September 30, 2015 and December 31, 2014 , respectively. The risk associated with the guarantees above is offset by the value of the underlying assets. The decrease from December 31, 2014 was due to M/I Financial reaching a settlement agreement with one of its investors during the first quarter of 2015 which substantially eliminated any liability to repurchase or indemnify loans associated with the loan purchase agreement. M/I Financial has also guaranteed the collectability of certain loans to third party insurers (U.S. Department of Housing and Urban Development and U.S. Veterans Administration) of those loans for periods ranging from five to thirty years. As of September 30, 2015 and December 31, 2014 , the total of all loans indemnified to third party insurers relating to the above agreements was $2.2 million and $2.0 million . The maximum potential amount of future payments is equal to the outstanding loan value less the value of the underlying asset plus administrative costs incurred related to foreclosure on the loans, should this event occur. The Company has recorded a liability relating to the guarantees described above totaling $2.2 million and $2.9 million at September 30, 2015 and December 31, 2014 , respectively, which is management’s best estimate of the Company’s liability. At September 30, 2015 , the Company had outstanding $230.0 million aggregate principal amount of 8.625% Senior Notes due 2018 (the “2018 Senior Notes”), $57.5 million aggregate principal amount of 3.25% Convertible Senior Subordinated Notes due 2017 (the “2017 Convertible Senior Subordinated Notes”) and $86.3 million aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The Company’s obligations under the 2018 Senior Notes and the Credit Facility are fully and unconditionally guaranteed jointly and severally on a senior unsecured basis by all of the Company’s subsidiaries, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries (as defined in Note 11 ), subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture for the 2018 Senior Notes. The Company’s obligations under the 2017 Convertible Senior Subordinated Notes and the 2018 Convertible Senior Subordinated Notes are guaranteed jointly and severally on a senior subordinated unsecured basis by the same subsidiaries of the Company that are guarantors of the 2018 Senior Notes and the Credit Facility (the “Guarantor Subsidiaries”). Refer to Note 7 for a description of the guarantees of the Credit Facility.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies At September 30, 2015 , the Company had outstanding approximately $150.8 million of completion bonds and standby letters of credit, some of which were issued to various local governmental entities that expire at various times through September 2026 . Included in this total are: (1) $101.2 million of performance and maintenance bonds and $25.3 million of performance letters of credit that serve as completion bonds for land development work in progress; (2) $12.4 million of financial letters of credit, of which $6.5 million represent deposits on land and lot purchase agreements; and (3) $11.9 million of financial bonds. At September 30, 2015 , the Company also had options and contingent purchase agreements to acquire land and developed lots with an aggregate purchase price of approximately $495.2 million . Purchase of properties under these agreements is contingent upon satisfaction of certain requirements by the Company and the sellers. The Company and certain of its subsidiaries have been named as defendants in certain claims, complaints and legal actions that are incidental to our business. Certain of the liabilities resulting from these matters are covered by insurance. While management currently believes that the ultimate resolution of these matters, individually and in the aggregate, will not have a material effect on the Company’s financial position, results of operations and cash flows, such matters are subject to inherent uncertainties. The Company has recorded a liability to provide for the anticipated costs, including legal defense costs, associated with the resolution of these matters. However, it is possible that the costs to resolve these matters could differ from the recorded estimates and, therefore, have a material effect on the Company’s net income for the periods in which the matters are resolved. At September 30, 2015 and December 31, 2014 , we had $0.5 million and $0.2 million accrued for legal expenses, respectively.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Notes Payable - Homebuilding The Credit Facility provides for an aggregate commitment amount of $400 million , including a $125 million sub-facility for letters of credit. The Credit Facility matures on October 20, 2018 . Interest on amounts borrowed under the Credit Facility is payable at either the Alternate Base Rate plus an initial margin of 150 basis points, or at the Eurodollar Rate plus a margin of 250 basis points, in each case subject to adjustment based on the Company's leverage ratio. The Credit Facility also contains certain financial covenants. At September 30, 2015 , the Company was in compliance with all financial covenants of the Credit Facility. During the third quarter of 2015, the Company exercised an accordion feature provided for within the Credit Facility, increasing the total revolving commitment under the Credit Facility from $300 million to $400 million by obtaining additional commitments from existing lenders. At September 30, 2015 , borrowing availability under the Credit Facility in accordance with the borrowing base calculation was $523.4 million and, as a result, the full amount of the $400 million facility was available. At September 30, 2015 , there were $156.1 million of borrowings outstanding and $34.7 million of letters of credit outstanding, leaving net remaining borrowing availability of $209.2 million . The Company’s obligations under the Credit Facility are guaranteed by all of the Company’s subsidiaries, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries (as defined in Note 11 ), subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture for the 2018 Senior Notes. The guarantors for the Credit Facility are the same subsidiaries that guarantee the 2018 Senior Notes, the 2017 Convertible Senior Subordinated Notes, and the 2018 Convertible Senior Subordinated Notes. The Company’s obligations under the Credit Facility are general, unsecured senior obligations of the Company and the subsidiary guarantors and rank equally in right of payment with all our existing and future unsecured senior indebtedness. Our obligations under the Credit Facility are effectively subordinated to our existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. The Company is party to three secured credit agreements for the issuance of letters of credit outside of the Credit Facility (collectively, the “Letter of Credit Facilities”), with maturity dates ranging from August 31, 2016 to June 1, 2017 . During the three months ended September 30, 2015 , the Company extended the maturity dates on two of the Letter of Credit Facilities for an additional year to August 31, 2016 and September 30, 2016 , while also reducing the maximum available amount under the facility maturing on August 31, 2016 from $5.0 million to $3.0 million and the facility maturing on September 30, 2016 from $10.0 million to $4.0 million . The agreements governing the Letter of Credit Facilities contain limits for the issuance of letters of credit ranging from $3.0 million to $5.0 million , for a combined letter of credit capacity of $12.0 million , of which $4.8 million was uncommitted at September 30, 2015 and could be withdrawn at any time. At September 30, 2015 and December 31, 2014 , there was $2.9 million and $6.5 million of outstanding letters of credit in aggregate under the Company’s three Letter of Credit Facilities, respectively, which were collateralized with $3.0 million and $6.6 million of the Company’s cash, respectively. Notes Payable — Financial Services The MIF Mortgage Warehousing Agreement is used to finance eligible residential mortgage loans originated by M/I Financial and provides a maximum borrowing availability of $110 million and an accordion feature which allows for an increase of the maximum borrowing availability of up to an additional $20 million (subject to certain conditions, including obtaining additional commitments from existing or new lenders). The maximum principal amount permitted to be outstanding at any one time in aggregate under all warehouse credit lines is $150 million . The agreement also contains certain financial covenants. At September 30, 2015 , M/I Financial was in compliance with all financial covenants of the MIF Mortgage Warehousing Agreement. The MIF Mortgage Warehousing Agreement matures on June 24, 2016 . Interest on amounts borrowed under the MIF Mortgage Warehousing Agreement is payable at a per annum rate equal to the greater of (1) the floating LIBOR rate plus 250 basis points and (2) 2.75% . The MIF Mortgage Repurchase Facility is used to finance eligible residential mortgage loans originated by M/I Financial and is structured as a mortgage repurchase facility with a maximum borrowing availability of $15 million and an expiration date of November 3, 2015 . M/I Financial pays interest on each advance under the MIF Mortgage Repurchase Facility at a per annum rate equal to the floating LIBOR rate plus 275 or 300 basis points depending on the loan type. At September 30, 2015 and December 31, 2014 , M/I Financial’s total combined maximum borrowing availability under the two credit facilities was $125.0 million . At September 30, 2015 and December 31, 2014 , M/I Financial had $73.2 million and $85.4 million outstanding on a combined basis under its credit facilities, respectively, and was in compliance with all financial covenants of those agreements for both periods. Senior Notes As of both September 30, 2015 and December 31, 2014 , we had $230.0 million of our 2018 Senior Notes outstanding. The 2018 Senior Notes bear interest at a rate of 8.625% per year, payable semiannually in arrears on May 15 and November 15 of each year, and mature on November 15, 2018. The 2018 Senior Notes are general, unsecured senior obligations of the Company and the subsidiary guarantors and rank equally in right of payment with all our existing and future unsecured senior indebtedness. The 2018 Senior Notes are effectively subordinated to our existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. The 2018 Senior Notes contain certain covenants, as more fully described and defined in the indenture, which limit the ability of the Company and the restricted subsidiaries to, among other things: incur additional indebtedness; make certain payments, including dividends, or repurchase any shares, in an aggregate amount exceeding our “restricted payments basket”; make certain investments; and create or incur certain liens, consolidate or merge with or into other companies, or liquidate or sell or transfer all or substantially all of our assets. These covenants are subject to a number of exceptions and qualifications as described in the indenture governing the 2018 Senior Notes. As of September 30, 2015 , the Company was in compliance with all terms, conditions, and covenants under the indenture. The 2018 Senior Notes are fully and unconditionally guaranteed jointly and severally on a senior unsecured basis by all of our subsidiaries, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries (as defined in Note 11), subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture for the 2018 Senior Notes. As of September 30, 2015 , the guarantors for the 2018 Senior Notes are the same subsidiaries that guarantee the Credit Facility, the 2017 Convertible Senior Subordinated Notes, and the 2018 Convertible Senior Subordinated Notes. The Company may redeem all or any portion of the 2018 Senior Notes at a stated redemption price, together with accrued and unpaid interest thereon. The redemption price is currently 104.313% of the principal amount outstanding, but will decline to 102.156% of the principal amount outstanding if redeemed during the 12-month period beginning on November 15, 2015, and will further decline to 100.000% of the principal amount outstanding if redeemed on or after November 15, 2016, but prior to maturity. The indenture governing our 2018 Senior Notes limits our ability to pay dividends on, and repurchase, our common shares and our 9.75% Series A Preferred Shares (the “Series A Preferred Shares”) to the amount of the positive balance in our “restricted payments basket,” as defined in the indenture. The “restricted payments basket” is equal to $40.0 million (1) plus 50% of our aggregate consolidated net income (or minus 100% of our aggregate consolidated net loss) since October 1, 2010, excluding the income or loss from Unrestricted Subsidiaries, plus (2) 100% of the net cash proceeds from the sale of qualified equity interests, plus other items and subject to other exceptions. The restricted payments basket was $159.6 million and $148.6 million at September 30, 2015 and December 31, 2014 , respectively. The determination to pay future dividends on, or make future repurchases of, our common shares or Series A Preferred Shares will be at the discretion of our board of directors and will depend upon our results of operations, financial condition, capital requirements and compliance with debt covenants and the terms of our Series A Preferred Shares, and other factors deemed relevant by our board of directors. Convertible Senior Subordinated Notes In March 2013, the Company issued $86.3 million aggregate principal amount of 2018 Convertible Senior Subordinated Notes. The 2018 Convertible Senior Subordinated Notes bear interest at a rate of 3.0% per year, payable semiannually in arrears on March 1 and September 1 of each year. The 2018 Convertible Senior Subordinated Notes mature on March 1, 2018. At any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2018 Convertible Senior Subordinated Notes into the Company’s common shares. The conversion rate initially equals 30.9478 shares per $1,000 of principal amount. This corresponds to an initial conversion price of approximately $32.31 per common share, which equates to approximately 2.7 million common shares. The conversion rate is subject to adjustment upon the occurrence of certain events. The 2018 Convertible Senior Subordinated Notes are fully and unconditionally guaranteed on a senior subordinated unsecured basis by those subsidiaries of the Company that are guarantors under the Company’s 2018 Senior Notes and 2017 Convertible Senior Subordinated Notes. The 2018 Convertible Senior Subordinated Notes are senior subordinated unsecured obligations of the Company and the subsidiary guarantors, are subordinated in right of payment to our existing and future senior indebtedness and are also effectively subordinated to our existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. The indenture governing the 2018 Convertible Senior Subordinated Notes provides that the Company may not redeem the 2018 Convertible Senior Subordinated Notes prior to March 6, 2016, but also contains provisions requiring the Company to repurchase the notes (subject to certain exceptions), at a holder’s option, upon the occurrence of a fundamental change (as defined in the indenture). On or after March 6, 2016, the Company may redeem for cash any or all of the 2018 Convertible Senior Subordinated Notes (except for any 2018 Convertible Senior Subordinated Notes that the Company is required to repurchase in connection with a fundamental change), but only if the last reported sale price of the Company’s common shares exceeds 130% of the applicable conversion price for the notes on each of at least 20 applicable trading days. The 20 trading days do not need to be consecutive, but must occur during a period of 30 consecutive trading days that ends within 10 trading days immediately prior to the date the Company provides the notice of redemption. The redemption price for the 2018 Convertible Senior Subordinated Notes to be redeemed will equal 100% of the principal amount, plus accrued and unpaid interest, if any. In September 2012, the Company issued $57.5 million aggregate principal amount of 2017 Convertible Senior Subordinated Notes. The 2017 Convertible Senior Subordinated Notes bear interest at a rate of 3.25% per year, payable semiannually in arrears on March 15 and September 15 of each year. The 2017 Convertible Senior Subordinated Notes mature on September 15, 2017. At any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2017 Convertible Senior Subordinated Notes into the Company’s common shares. The conversion rate initially equals 42.0159 shares per $1,000 of principal amount. This corresponds to an initial conversion price of approximately $23.80 per common share, which equates to approximately 2.4 million common shares. The conversion rate is subject to adjustment upon the occurrence of certain events. The 2017 Convertible Senior Subordinated Notes are fully and unconditionally guaranteed on a senior subordinated unsecured basis by those subsidiaries of the Company that are guarantors under the Company’s 2018 Senior Notes and 2018 Convertible Senior Subordinated Notes. The 2017 Convertible Senior Subordinated Notes are senior subordinated unsecured obligations of the Company and the subsidiary guarantors, are subordinated in right of payment to our existing and future senior indebtedness and are also effectively subordinated to our existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. The indenture governing the 2017 Convertible Senior Subordinated Notes provides that we may not redeem the notes prior to their stated maturity date, but also contains provisions requiring the Company to repurchase the 2017 Convertible Senior Subordinated Notes (subject to certain exceptions), at a holder’s option, upon the occurrence of a fundamental change (as defined in the indenture). Notes Payable - Other The Company had other borrowings, which are reported in Notes Payable - Other in our Unaudited Condensed Consolidated Balance Sheets, totaling $9.4 million and $9.5 million as of September 30, 2015 and December 31, 2014 , respectively. The balance consists primarily of a mortgage note payable with a $4.0 million principal balance outstanding at September 30, 2015 (and $4.3 million principal balance outstanding at December 31, 2014 ), which is secured by an office building, matures in 2017 and carries an interest rate of 8.1% . The remaining balance is made up of other notes payable incurred through the normal course of business.

Earnings per Share

Earnings per Share	9 Months Ended
Earnings per Share	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2015 2014 2015 2014 NUMERATOR Net income $ 15,570 $ 13,617 $ 38,488 $ 39,803 Preferred stock dividends (1,218 ) (1,218 ) (3,656 ) (3,656 ) Net income to common shareholders 14,352 12,399 34,832 36,147 Interest on 3.25% convertible senior subordinated notes due 2017 372 368 1,117 1,110 Interest on 3.00% convertible senior subordinated notes due 2018 502 496 1,507 1,497 Diluted income available to common shareholders $ 15,226 $ 13,263 $ 37,456 $ 38,754 DENOMINATOR Basic weighted average shares outstanding 24,605 24,474 24,551 24,454 Effect of dilutive securities: Stock option awards 244 214 238 223 Deferred compensation awards 133 148 147 138 3.25% convertible senior subordinated notes due 2017 2,416 2,416 2,416 2,416 3.00% convertible senior subordinated notes due 2018 2,669 2,669 2,669 2,669 Diluted weighted average shares outstanding - adjusted for assumed conversions 30,067 29,921 30,021 29,900 Earnings per common share: Basic $ 0.58 $ 0.51 $ 1.42 $ 1.48 Diluted $ 0.51 $ 0.44 $ 1.25 $ 1.30 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share 1,460 1,286 1,443 1,243 For the three and nine months ended September 30, 2015 and 2014 , the effect of convertible debt was included in the diluted earnings per share calculations.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes During the three and nine months ended September 30, 2015 , the Company recorded a tax provision of $10.9 million and $25.6 million , respectively, which reflects income tax expense related to the period’s pre-tax earnings. The effective tax rate for the three and nine months ended September 30, 2015 was 41.2% and 39.9% , respectively. During the three and nine months ended September 30, 2014 , the Company recorded a tax provision of $8.6 million and $10.2 million , respectively, which reflects income tax expense related to the period’s pre-tax earnings, as well as a benefit of $9.3 million from the reversal of our state deferred tax asset valuation allowance for the nine months ended September 30, 2014 . The effective tax rate for the three and nine months ended September 30, 2014 was 38.7% and 20.4% , respectively, which was not meaningful due to the effects of the deferred tax asset valuation allowance and federal and state tax net operating losses (“NOLs”), and there was no correlation between the effective tax rate and the amount of pre-tax income for the period. At September 30, 2015 , the Company had federal NOL carryforwards of approximately $29.5 million and federal credit carryforwards of $8.6 million . Our federal NOL carryforwards may be carried forward from one to 17 years to offset future taxable income with the federal carryforward benefits beginning to expire in 2028. The Company had $9.5 million of state NOL carryforwards at September 30, 2015 . Our state NOLs may be carried forward from one to 17 years, depending on the tax jurisdiction, with $3.4 million expiring between 2022 and 2027 and $6.1 million expiring between 2028 and 2032, absent sufficient state taxable income.

Business Segments

Business Segments	9 Months Ended
Business Segments	Sep. 30, 2015
Business Segments [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segments The Company’s chief operating decision makers evaluate the Company’s performance in various ways, including: (1) the results of our 13 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding reportable segments; and (3) our consolidated financial results. In accordance with ASC 280, Segment Reporting (“ASC 280”), we have identified each homebuilding division as an operating segment as each homebuilding division engages in business activities from which it earns revenue, primarily from the sale and construction of single-family attached and detached homes, acquisition and development of land, and the occasional sale of lots to third parties. Our financial services operations generate revenue primarily from the origination, sale and servicing of mortgage loans and title services primarily for purchasers of the Company’s homes and are included in our financial services reportable segment. In accordance with the aggregation criteria defined in ASC 280, we have determined our reportable segments as follows: Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations. The homebuilding operating segments that are included within each reportable segment have been aggregated because they share similar aggregation characteristics as prescribed in ASC 280 in the following regards: (1) long-term economic characteristics; (2) historical and expected future long-term gross margin percentages; (3) housing products, production processes and methods of distribution; and (4) geographical proximity. The homebuilding operating segments that comprise each of our reportable segments are as follows: Midwest Southern Mid-Atlantic Columbus, Ohio Tampa, Florida Washington, D.C. Cincinnati, Ohio Orlando, Florida Charlotte, North Carolina Indianapolis, Indiana Houston, Texas Raleigh, North Carolina Chicago, Illinois San Antonio, Texas Austin, Texas Dallas/Fort Worth, Texas The following table shows, by segment: revenue, operating income and interest expense for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Revenue: Midwest homebuilding $ 128,121 $ 118,319 $ 331,479 $ 283,472 Southern homebuilding 137,185 118,150 341,139 299,472 Mid-Atlantic homebuilding 88,875 86,718 250,546 242,357 Financial services (a) 9,276 7,580 26,308 21,915 Total revenue $ 363,457 $ 330,767 $ 949,472 $ 847,216 Operating income: Midwest homebuilding (b) $ 13,511 $ 12,802 $ 33,526 $ 26,771 Southern homebuilding 13,860 10,215 30,421 24,741 Mid-Atlantic homebuilding 6,350 6,511 19,376 18,888 Financial services (a) 4,856 3,804 15,425 12,204 Less: Corporate selling, general and administrative expense (8,457 ) (8,502 ) (23,051 ) (23,126 ) Total operating income $ 30,120 $ 24,830 $ 75,697 $ 59,478 Interest expense: Midwest homebuilding $ 649 $ 450 $ 2,536 $ 2,211 Southern homebuilding 1,649 968 5,185 3,927 Mid-Atlantic homebuilding 948 829 3,011 2,392 Financial services (a) 412 402 1,138 1,019 Total interest expense $ 3,658 $ 2,649 $ 11,870 $ 9,549 Equity in income of unconsolidated joint ventures (36 ) (22 ) (248 ) (62 ) Income before income taxes $ 26,498 $ 22,203 $ 64,075 $ 49,991 (a) Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of a small amount of mortgage re-financing. (b) For the three months ended September 30, 2014 , the impact of charges relating to the impairment of future communities in the Midwest region reduced operating income by $0.6 million . For the nine months ended September 30, 2014 , the impact of charges relating to the impairment of operating and future communities in the Midwest region reduced operating income by $0.8 million and $0.6 million , respectively. The following tables show total assets by segment at September 30, 2015 and December 31, 2014 : September 30, 2015 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,092 $ 14,940 $ 3,962 $ — $ 21,994 Inventory (a) 366,677 423,588 321,155 — 1,111,420 Investments in unconsolidated joint ventures 5,783 27,499 — — 33,282 Other assets 10,208 29,001 8,081 192,016 239,306 Total assets $ 385,760 $ 495,028 $ 333,198 $ 192,016 $ 1,406,002 December 31, 2014 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 4,573 $ 14,752 $ 4,170 $ — $ 23,495 Inventory (a) 303,037 331,938 260,119 — 895,094 Investments in unconsolidated joint ventures 1,764 26,005 — — 27,769 Other assets 7,933 16,829 7,536 232,754 265,052 Total assets $ 317,307 $ 389,524 $ 271,825 $ 232,754 $ 1,211,410 (a) Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned.

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
Supplemental Guarantor Information	Sep. 30, 2015
Supplemental Guarantor Information [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	Supplemental Guarantor Information The Company’s obligations under the 2018 Senior Notes, the 2017 Convertible Senior Subordinated Notes and the 2018 Convertible Senior Subordinated Notes are not guaranteed by all of the Company’s subsidiaries and therefore, the Company has disclosed condensed consolidating financial information in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered. The subsidiary guarantors of the 2018 Senior Notes, the 2017 Convertible Senior Subordinated Notes and the 2018 Convertible Senior Subordinated Notes are the same. The following condensed consolidating financial information includes balance sheets, statements of income and cash flow information for M/I Homes, Inc. (the parent company and the issuer of the aforementioned guaranteed notes), the Guarantor Subsidiaries, collectively, and for all other subsidiaries and joint ventures of the Company (the “Unrestricted Subsidiaries”), collectively. Each Guarantor Subsidiary is a direct or indirect 100%-owned subsidiary of M/I Homes, Inc. and has fully and unconditionally guaranteed the (a) 2018 Senior Notes, on a joint and several senior unsecured basis, (b) the 2017 Convertible Senior Subordinated Notes on a joint and several senior subordinated unsecured basis and (c) the 2018 Convertible Senior Subordinated Notes on a joint and several senior subordinated unsecured basis. There are no significant restrictions on the parent company’s ability to obtain funds from its Guarantor Subsidiaries in the form of a dividend, loan, or other means. As of September 30, 2015 , each of the Company’s subsidiaries is a Guarantor Subsidiary, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries, subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture for the 2018 Senior Notes. In the condensed financial tables presented below, the parent company presents all of its 100%-owned subsidiaries as if they were accounted for under the equity method. All applicable corporate expenses have been allocated appropriately among the Guarantor Subsidiaries and Unrestricted Subsidiaries. CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 354,181 $ 9,276 $ — $ 363,457 Costs and expenses: Land and housing — 285,416 — — 285,416 General and administrative — 19,080 4,571 — 23,651 Selling — 24,270 — — 24,270 Equity in income of unconsolidated joint ventures — — (36 ) — (36 ) Interest — 3,246 412 — 3,658 Total costs and expenses — 332,012 4,947 — 336,959 Income before income taxes — 22,169 4,329 — 26,498 Provision for income taxes — 9,531 1,397 — 10,928 Equity in subsidiaries 15,570 — — (15,570 ) — Net income 15,570 12,638 2,932 (15,570 ) 15,570 Preferred dividends 1,218 — — — 1,218 Net income to common shareholders $ 14,352 $ 12,638 $ 2,932 $ (15,570 ) $ 14,352 Three Months Ended September 30, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 323,187 $ 7,580 $ — $ 330,767 Costs and expenses: Land and housing — 261,636 — — 261,636 Impairment of inventory and investment in unconsolidated joint ventures — 622 — 622 General and administrative — 17,811 3,913 — 21,724 Selling — 21,955 — — 21,955 Equity in income of unconsolidated joint ventures — — (22 ) — (22 ) Interest — 2,248 401 — 2,649 Total costs and expenses — 304,272 4,292 — 308,564 Income before income taxes — 18,915 3,288 — 22,203 Provision for income taxes — 7,428 1,158 — 8,586 Equity in subsidiaries 13,617 — — (13,617 ) — Net income 13,617 11,487 2,130 (13,617 ) 13,617 Preferred dividends 1,218 — — — 1,218 Net income to common shareholders $ 12,399 $ 11,487 $ 2,130 $ (13,617 ) $ 12,399 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 923,164 $ 26,308 $ — $ 949,472 Costs and expenses: Land and housing — 744,194 — — 744,194 General and administrative — 53,334 11,356 — 64,690 Selling — 64,891 — — 64,891 Equity in income of unconsolidated joint ventures — — (248 ) — (248 ) Interest — 10,732 1,138 — 11,870 Total costs and expenses — 873,151 12,246 — 885,397 Income before income taxes — 50,013 14,062 — 64,075 Provision for income taxes — 20,690 4,897 — 25,587 Equity in subsidiaries 38,488 — — (38,488 ) — Net income 38,488 29,323 9,165 (38,488 ) 38,488 Preferred dividends 3,656 — — — 3,656 Net income to common shareholders $ 34,832 $ 29,323 $ 9,165 $ (38,488 ) $ 34,832 Nine Months Ended September 30, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 825,301 $ 21,915 $ — $ 847,216 Costs and expenses: Land and housing — 666,817 — — 666,817 Impairment of inventory and investment in unconsolidated joint ventures — 1,426 — — 1,426 General and administrative — 51,159 10,161 — 61,320 Selling — 58,175 — — 58,175 Equity in income of unconsolidated joint ventures — — (62 ) — (62 ) Interest — 8,530 1,019 — 9,549 Total costs and expenses — 786,107 11,118 — 797,225 Income before income taxes — 39,194 10,797 — 49,991 Provision for income taxes — 5,991 4,197 — 10,188 Equity in subsidiaries 39,803 — — (39,803 ) — Net income 39,803 33,203 6,600 (39,803 ) 39,803 Preferred dividends 3,656 — — — 3,656 Net income to common shareholders $ 36,147 $ 33,203 $ 6,600 $ (39,803 ) $ 36,147 CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash and cash equivalents $ — $ 7,870 $ 17,185 $ — $ 25,055 Restricted cash — 3,071 — — 3,071 Mortgage loans held for sale — 77,550 — 77,550 Inventory — 1,133,414 — — 1,133,414 Property and equipment - net — 11,567 274 — 11,841 Investment in unconsolidated joint ventures — 12,066 21,216 — 33,282 Deferred income taxes, net of valuation allowances — 70,880 63 — 70,943 Investment in subsidiaries 612,528 — — (612,528 ) — Intercompany assets 335,724 — — (335,724 ) — Other assets 7,605 29,156 14,085 — 50,846 TOTAL ASSETS $ 955,857 $ 1,268,024 $ 130,373 $ (948,252 ) $ 1,406,002 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 95,107 $ 843 $ — $ 95,950 Customer deposits — 18,976 — — 18,976 Intercompany liabilities — 313,762 21,962 (335,724 ) — Other liabilities — 76,876 7,064 — 83,940 Community development district obligations — 1,159 — — 1,159 Obligation for consolidated inventory not owned — 11,418 — — 11,418 Notes payable bank - homebuilding operations — 156,100 — — 156,100 Notes payable bank - financial services operations — — 73,239 — 73,239 Notes payable - other — 9,363 — — 9,363 Convertible senior subordinated notes due 2017 57,500 — — — 57,500 Convertible senior subordinated notes due 2018 86,250 — — — 86,250 Senior notes 228,769 — — — 228,769 TOTAL LIABILITIES 372,519 682,761 103,108 (335,724 ) 822,664 SHAREHOLDERS’ EQUITY 583,338 585,263 27,265 (612,528 ) 583,338 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 955,857 $ 1,268,024 $ 130,373 $ (948,252 ) $ 1,406,002 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash and cash equivalents $ — $ 3,872 $ 11,663 $ — $ 15,535 Restricted cash — 6,951 — — 6,951 Mortgage loans held for sale — — 92,794 — 92,794 Inventory — 918,589 — — 918,589 Property and equipment - net — 11,189 301 — 11,490 Investment in unconsolidated joint ventures — 15,033 12,736 — 27,769 Deferred income taxes, net of valuation allowances — 94,088 324 — 94,412 Investment in subsidiaries 576,468 — — (576,468 ) — Intercompany assets 330,786 — — (330,786 ) — Other assets 9,260 24,378 10,232 — 43,870 TOTAL ASSETS $ 916,514 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,211,410 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 74,344 $ 994 $ — $ 75,338 Customer deposits — 11,759 — — 11,759 Intercompany liabilities — 314,946 15,840 (330,786 ) — Other liabilities — 74,413 5,310 — 79,723 Community development district obligations — 2,571 — — 2,571 Obligation for consolidated inventory not owned — 608 — — 608 Notes payable bank - homebuilding operations — 30,000 — — 30,000 Notes payable bank - financial services operations — — 85,379 — 85,379 Notes payable - other — 9,518 — — 9,518 Convertible senior subordinated notes due 2017 57,500 — — — 57,500 Convertible senior subordinated notes due 2018 86,250 — — — 86,250 Senior notes 228,469 — — — 228,469 TOTAL LIABILITIES 372,219 518,159 107,523 (330,786 ) 667,115 SHAREHOLDERS’ EQUITY 544,295 555,941 20,527 (576,468 ) 544,295 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 916,514 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,211,410 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 2,428 $ (114,357 ) $ 19,161 $ (2,428 ) $ (95,196 ) INVESTING ACTIVITIES: Restricted cash — 3,615 — — 3,615 Purchase of property and equipment — (1,939 ) (64 ) — (2,003 ) Intercompany investing 193 — — (193 ) — Investments in and advances to unconsolidated joint ventures — (2,728 ) (7,997 ) — (10,725 ) Net proceeds from the sale of mortgage servicing rights — — 3,065 — 3,065 Net cash provided by (used in) investing activities 193 (1,052 ) (4,996 ) (193 ) (6,048 ) FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 329,400 — — 329,400 Principal repayments of bank borrowings - homebuilding operations — (203,300 ) — — (203,300 ) Net proceeds from bank borrowings - financial services operations — — (12,140 ) — (12,140 ) Principal proceeds from notes payable - other and CDD bond obligations — (155 ) — — (155 ) Proceeds from exercise of stock options 1,035 — — — 1,035 Intercompany financing — (6,158 ) 5,965 193 — Dividends paid (3,656 ) — (2,428 ) 2,428 (3,656 ) Debt issue costs — (380 ) (40 ) — (420 ) Net cash (used in) provided by financing activities (2,621 ) 119,407 (8,643 ) 2,621 110,764 Net increase in cash and cash equivalents — 3,998 5,522 — 9,520 Cash and cash equivalents balance at beginning of period — 3,872 11,663 — 15,535 Cash and cash equivalents balance at end of period $ — $ 7,870 $ 17,185 $ — $ 25,055 Nine Months Ended September 30, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 8,275 $ (124,022 ) $ 17,311 $ (8,275 ) $ (106,711 ) INVESTING ACTIVITIES: Restricted cash — 4,912 — — 4,912 Purchase of property and equipment — (2,222 ) (125 ) — (2,347 ) Investments in and advances to unconsolidated joint ventures — (12,080 ) (4,738 ) — (16,818 ) Net proceeds from the sale of mortgage servicing rights — — 2,135 — 2,135 Return of capital from unconsolidated joint ventures — — 619 — 619 Net cash used in investing activities — (9,390 ) (2,109 ) — (11,499 ) FINANCING ACTIVITIES: Net repayments from bank borrowings - financial services operations — 14,400 (6,251 ) — 8,149 Principal repayments from notes payable - other and CDD bond obligations — 740 — — 740 Proceeds from exercise of stock options 1,460 — — — 1,460 Intercompany financing (6,079 ) 8,676 (2,597 ) — — Dividends paid (3,656 ) — (8,275 ) 8,275 (3,656 ) Debt issue costs — — (40 ) — (40 ) Net cash (used in) provided by financing activities (8,275 ) 23,816 (17,163 ) 8,275 6,653 Net decrease in cash and cash equivalents — (109,596 ) (1,961 ) — (111,557 ) Cash and cash equivalents balance at beginning of period — 113,407 15,318 — 128,725 Cash and cash equivalents balance at end of period $ — $ 3,811 $ 13,357 $ — $ 17,168

Inventory and Capitalized Int18

Inventory and Capitalized Interest Inventory (Tables)	9 Months Ended
Inventory and Capitalized Interest Inventory (Tables)	Sep. 30, 2015
Inventory [Abstract]
Schedule of Inventory, Current [Table Text Block]	A summary of the Company’s inventory as of September 30, 2015 and December 31, 2014 is as follows: (In thousands) September 30, 2015 December 31, 2014 Single-family lots, land and land development costs $ 539,517 $ 463,198 Land held for sale 5,803 10,647 Homes under construction 488,041 371,119 Model homes and furnishings - at cost (less accumulated depreciation: September 30, 2015 - $8,052; December 31, 2014 - $7,010) 65,482 46,780 Community development district infrastructure 1,159 2,571 Land purchase deposits 21,994 23,495 Consolidated inventory not owned 11,418 779 Total inventory $ 1,133,414 $ 918,589
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	The summary of capitalized interest for the three and nine months ended September 30, 2015 and 2014 is as follows : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Capitalized interest, beginning of period $ 16,437 $ 14,831 $ 15,296 $ 13,802 Interest capitalized to inventory 5,006 5,161 13,466 13,141 Capitalized interest charged to land and housing costs and expenses (4,318 ) (4,281 ) (11,637 ) (11,232 ) Capitalized interest, end of period $ 17,125 $ 15,711 $ 17,125 $ 15,711 Interest incurred $ 8,664 $ 7,810 $ 25,336 $ 22,690

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements Fair Value Measurements (Tables)	Sep. 30, 2015
Fair Value Measurements [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The table below shows the notional amounts of our financial instruments at September 30, 2015 and December 31, 2014 : Description of Financial Instrument (in thousands) September 30, 2015 December 31, 2014 Best efforts contracts and related committed IRLCs $ 5,554 $ 3,072 Uncommitted IRLCs 79,604 28,028 FMBSs related to uncommitted IRLCs 80,000 41,000 Best efforts contracts and related mortgage loans held for sale 11,057 61,233 FMBSs related to mortgage loans held for sale 64,000 27,000 Mortgage loans held for sale covered by FMBSs 63,977 26,825
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The table below shows the level and measurement of assets and liabilities measured on a recurring basis at September 30, 2015 and December 31, 2014 : Description of Financial Instrument (in thousands) Fair Value Measurements September 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 77,550 $ — $ 77,550 $ — Forward sales of mortgage-backed securities (1,270 ) — (1,270 ) — Interest rate lock commitments 985 — 985 — Best-efforts contracts (201 ) — (201 ) — Total $ 77,064 $ — $ 77,064 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mortgage loans held for sale $ 92,794 $ — $ 92,794 $ — Forward sales of mortgage-backed securities (182 ) — (182 ) — Interest rate lock commitments 288 — 288 — Best-efforts contracts 53 — 53 — Total $ 92,953 $ — $ 92,953 $ —
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]	The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, Description (in thousands) 2015 2014 2015 2014 Mortgage loans held for sale $ 1,585 $ (959 ) $ 761 $ 2,556 Forward sales of mortgage-backed securities (2,520 ) 398 (1,088 ) (786 ) Interest rate lock commitments 924 (144 ) 696 753 Best-efforts contracts (125 ) 164 (253 ) (428 ) Total (loss) gain recognized $ (136 ) $ (541 ) $ 116 $ 2,095
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item): Asset Derivatives Liability Derivatives September 30, 2015 September 30, 2015 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 1,270 Interest rate lock commitments Other assets 985 Other liabilities — Best-efforts contracts Other assets — Other liabilities 201 Total fair value measurements $ 985 $ 1,471 Asset Derivatives Liability Derivatives December 31, 2014 December 31, 2014 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 182 Interest rate lock commitments Other assets 288 Other liabilities — Best-efforts contracts Other assets 58 Other liabilities 5 Total fair value measurements $ 346 $ 187
Fair Value, Assets Measured on Nonrecurring Basis [Table Text Block]	The table below shows the level and measurement of the Company's assets measured on a non-recurring basis as of and for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, Description (in thousands) Hierarchy 2015 2014 (2) 2015 2014 (2) Adjusted basis of inventory (1) Level 3 $ — $ 76 $ — $ 1,605 Total losses — 622 — 1,426 Initial basis of inventory $ — $ 698 $ — $ 3,031 (1) The fair values in the table above represent only assets whose carrying values were adjusted in the respective period. (2) The carrying values for these assets may have subsequently increased or decreased from the fair value reported due to activities that have occurred since the measurement date.
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2015 and December 31, 2014 . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). September 30, 2015 December 31, 2014 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 28,126 $ 28,126 $ 22,486 $ 22,486 Mortgage loans held for sale 77,550 77,550 92,794 92,794 Split dollar life insurance policies 202 202 187 187 Notes receivable 3,172 3,107 4,288 3,793 Commitments to extend real estate loans 985 985 289 289 Best-efforts contracts for committed IRLCs and mortgage loans held for sale — — 58 58 Liabilities: Notes payable - homebuilding operations 156,100 156,100 30,000 30,000 Notes payable - financial services operations 73,239 73,239 85,379 85,379 Notes payable - other 9,363 10,201 9,518 9,089 Convertible senior subordinated notes due 2017 57,500 63,969 57,500 67,634 Convertible senior subordinated notes due 2018 86,250 84,956 86,250 87,544 Senior notes due 2018 228,769 234,025 228,469 239,488 Best-efforts contracts for committed IRLCs and mortgage loans held for sale 201 201 — — Forward sales of mortgage-backed securities 1,270 1,270 182 182 Off-Balance Sheet Financial Instruments: Letters of credit — 837 — 881

Guarantees and Indemnificatio20

Guarantees and Indemnifications Guarantees and Indemnifications (Tables)	9 Months Ended
	Sep. 30, 2015
Warranty Accrual Rollforward [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	A summary of warranty activity for the three and nine months ended September 30, 2015 and 2014 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Warranty reserves, beginning of period $ 10,638 $ 11,220 $ 12,671 $ 12,291 Warranty expense on homes delivered during the period 2,263 1,923 5,847 4,962 Changes in estimates for pre-existing warranties 905 1,047 1,580 1,937 Settlements made during the period (3,328 ) (3,508 ) (9,620 ) (8,508 ) Warranty reserves, end of period $ 10,478 $ 10,682 $ 10,478 $ 10,682

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Tables)	9 Months Ended
Earnings per Share Earnings per Share (Tables)	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2015 2014 2015 2014 NUMERATOR Net income $ 15,570 $ 13,617 $ 38,488 $ 39,803 Preferred stock dividends (1,218 ) (1,218 ) (3,656 ) (3,656 ) Net income to common shareholders 14,352 12,399 34,832 36,147 Interest on 3.25% convertible senior subordinated notes due 2017 372 368 1,117 1,110 Interest on 3.00% convertible senior subordinated notes due 2018 502 496 1,507 1,497 Diluted income available to common shareholders $ 15,226 $ 13,263 $ 37,456 $ 38,754 DENOMINATOR Basic weighted average shares outstanding 24,605 24,474 24,551 24,454 Effect of dilutive securities: Stock option awards 244 214 238 223 Deferred compensation awards 133 148 147 138 3.25% convertible senior subordinated notes due 2017 2,416 2,416 2,416 2,416 3.00% convertible senior subordinated notes due 2018 2,669 2,669 2,669 2,669 Diluted weighted average shares outstanding - adjusted for assumed conversions 30,067 29,921 30,021 29,900 Earnings per common share: Basic $ 0.58 $ 0.51 $ 1.42 $ 1.48 Diluted $ 0.51 $ 0.44 $ 1.25 $ 1.30 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share 1,460 1,286 1,443 1,243

Business Segments Business Segm

Business Segments Business Segments (Tables)	9 Months Ended
Business Segments Business Segments (Tables)	Sep. 30, 2015
Business Segments [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table shows, by segment: revenue, operating income and interest expense for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2015 2014 2015 2014 Revenue: Midwest homebuilding $ 128,121 $ 118,319 $ 331,479 $ 283,472 Southern homebuilding 137,185 118,150 341,139 299,472 Mid-Atlantic homebuilding 88,875 86,718 250,546 242,357 Financial services (a) 9,276 7,580 26,308 21,915 Total revenue $ 363,457 $ 330,767 $ 949,472 $ 847,216 Operating income: Midwest homebuilding (b) $ 13,511 $ 12,802 $ 33,526 $ 26,771 Southern homebuilding 13,860 10,215 30,421 24,741 Mid-Atlantic homebuilding 6,350 6,511 19,376 18,888 Financial services (a) 4,856 3,804 15,425 12,204 Less: Corporate selling, general and administrative expense (8,457 ) (8,502 ) (23,051 ) (23,126 ) Total operating income $ 30,120 $ 24,830 $ 75,697 $ 59,478 Interest expense: Midwest homebuilding $ 649 $ 450 $ 2,536 $ 2,211 Southern homebuilding 1,649 968 5,185 3,927 Mid-Atlantic homebuilding 948 829 3,011 2,392 Financial services (a) 412 402 1,138 1,019 Total interest expense $ 3,658 $ 2,649 $ 11,870 $ 9,549 Equity in income of unconsolidated joint ventures (36 ) (22 ) (248 ) (62 ) Income before income taxes $ 26,498 $ 22,203 $ 64,075 $ 49,991 (a) Our financial services operational results should be viewed in connection with our homebuilding business as its operations originate loans and provide title services primarily for our homebuying customers, with the exception of a small amount of mortgage re-financing. (b) For the three months ended September 30, 2014 , the impact of charges relating to the impairment of future communities in the Midwest region reduced operating income by $0.6 million . For the nine months ended September 30, 2014 , the impact of charges relating to the impairment of operating and future communities in the Midwest region reduced operating income by $0.8 million and $0.6 million , respectively. The following tables show total assets by segment at September 30, 2015 and December 31, 2014 : September 30, 2015 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,092 $ 14,940 $ 3,962 $ — $ 21,994 Inventory (a) 366,677 423,588 321,155 — 1,111,420 Investments in unconsolidated joint ventures 5,783 27,499 — — 33,282 Other assets 10,208 29,001 8,081 192,016 239,306 Total assets $ 385,760 $ 495,028 $ 333,198 $ 192,016 $ 1,406,002 December 31, 2014 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 4,573 $ 14,752 $ 4,170 $ — $ 23,495 Inventory (a) 303,037 331,938 260,119 — 895,094 Investments in unconsolidated joint ventures 1,764 26,005 — — 27,769 Other assets 7,933 16,829 7,536 232,754 265,052 Total assets $ 317,307 $ 389,524 $ 271,825 $ 232,754 $ 1,211,410 (a) Inventory includes single-family lots, land and land development costs; land held for sale; homes under construction; model homes and furnishings; community development district infrastructure; and consolidated inventory not owned.

Supplemental Guarantor Inform23

Supplemental Guarantor Information Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2015
Supplemental Guarantor Information [Abstract]
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 354,181 $ 9,276 $ — $ 363,457 Costs and expenses: Land and housing — 285,416 — — 285,416 General and administrative — 19,080 4,571 — 23,651 Selling — 24,270 — — 24,270 Equity in income of unconsolidated joint ventures — — (36 ) — (36 ) Interest — 3,246 412 — 3,658 Total costs and expenses — 332,012 4,947 — 336,959 Income before income taxes — 22,169 4,329 — 26,498 Provision for income taxes — 9,531 1,397 — 10,928 Equity in subsidiaries 15,570 — — (15,570 ) — Net income 15,570 12,638 2,932 (15,570 ) 15,570 Preferred dividends 1,218 — — — 1,218 Net income to common shareholders $ 14,352 $ 12,638 $ 2,932 $ (15,570 ) $ 14,352 Three Months Ended September 30, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 323,187 $ 7,580 $ — $ 330,767 Costs and expenses: Land and housing — 261,636 — — 261,636 Impairment of inventory and investment in unconsolidated joint ventures — 622 — 622 General and administrative — 17,811 3,913 — 21,724 Selling — 21,955 — — 21,955 Equity in income of unconsolidated joint ventures — — (22 ) — (22 ) Interest — 2,248 401 — 2,649 Total costs and expenses — 304,272 4,292 — 308,564 Income before income taxes — 18,915 3,288 — 22,203 Provision for income taxes — 7,428 1,158 — 8,586 Equity in subsidiaries 13,617 — — (13,617 ) — Net income 13,617 11,487 2,130 (13,617 ) 13,617 Preferred dividends 1,218 — — — 1,218 Net income to common shareholders $ 12,399 $ 11,487 $ 2,130 $ (13,617 ) $ 12,399 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 923,164 $ 26,308 $ — $ 949,472 Costs and expenses: Land and housing — 744,194 — — 744,194 General and administrative — 53,334 11,356 — 64,690 Selling — 64,891 — — 64,891 Equity in income of unconsolidated joint ventures — — (248 ) — (248 ) Interest — 10,732 1,138 — 11,870 Total costs and expenses — 873,151 12,246 — 885,397 Income before income taxes — 50,013 14,062 — 64,075 Provision for income taxes — 20,690 4,897 — 25,587 Equity in subsidiaries 38,488 — — (38,488 ) — Net income 38,488 29,323 9,165 (38,488 ) 38,488 Preferred dividends 3,656 — — — 3,656 Net income to common shareholders $ 34,832 $ 29,323 $ 9,165 $ (38,488 ) $ 34,832 Nine Months Ended September 30, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 825,301 $ 21,915 $ — $ 847,216 Costs and expenses: Land and housing — 666,817 — — 666,817 Impairment of inventory and investment in unconsolidated joint ventures — 1,426 — — 1,426 General and administrative — 51,159 10,161 — 61,320 Selling — 58,175 — — 58,175 Equity in income of unconsolidated joint ventures — — (62 ) — (62 ) Interest — 8,530 1,019 — 9,549 Total costs and expenses — 786,107 11,118 — 797,225 Income before income taxes — 39,194 10,797 — 49,991 Provision for income taxes — 5,991 4,197 — 10,188 Equity in subsidiaries 39,803 — — (39,803 ) — Net income 39,803 33,203 6,600 (39,803 ) 39,803 Preferred dividends 3,656 — — — 3,656 Net income to common shareholders $ 36,147 $ 33,203 $ 6,600 $ (39,803 ) $ 36,147
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]	CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash and cash equivalents $ — $ 7,870 $ 17,185 $ — $ 25,055 Restricted cash — 3,071 — — 3,071 Mortgage loans held for sale — 77,550 — 77,550 Inventory — 1,133,414 — — 1,133,414 Property and equipment - net — 11,567 274 — 11,841 Investment in unconsolidated joint ventures — 12,066 21,216 — 33,282 Deferred income taxes, net of valuation allowances — 70,880 63 — 70,943 Investment in subsidiaries 612,528 — — (612,528 ) — Intercompany assets 335,724 — — (335,724 ) — Other assets 7,605 29,156 14,085 — 50,846 TOTAL ASSETS $ 955,857 $ 1,268,024 $ 130,373 $ (948,252 ) $ 1,406,002 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 95,107 $ 843 $ — $ 95,950 Customer deposits — 18,976 — — 18,976 Intercompany liabilities — 313,762 21,962 (335,724 ) — Other liabilities — 76,876 7,064 — 83,940 Community development district obligations — 1,159 — — 1,159 Obligation for consolidated inventory not owned — 11,418 — — 11,418 Notes payable bank - homebuilding operations — 156,100 — — 156,100 Notes payable bank - financial services operations — — 73,239 — 73,239 Notes payable - other — 9,363 — — 9,363 Convertible senior subordinated notes due 2017 57,500 — — — 57,500 Convertible senior subordinated notes due 2018 86,250 — — — 86,250 Senior notes 228,769 — — — 228,769 TOTAL LIABILITIES 372,519 682,761 103,108 (335,724 ) 822,664 SHAREHOLDERS’ EQUITY 583,338 585,263 27,265 (612,528 ) 583,338 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 955,857 $ 1,268,024 $ 130,373 $ (948,252 ) $ 1,406,002 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash and cash equivalents $ — $ 3,872 $ 11,663 $ — $ 15,535 Restricted cash — 6,951 — — 6,951 Mortgage loans held for sale — — 92,794 — 92,794 Inventory — 918,589 — — 918,589 Property and equipment - net — 11,189 301 — 11,490 Investment in unconsolidated joint ventures — 15,033 12,736 — 27,769 Deferred income taxes, net of valuation allowances — 94,088 324 — 94,412 Investment in subsidiaries 576,468 — — (576,468 ) — Intercompany assets 330,786 — — (330,786 ) — Other assets 9,260 24,378 10,232 — 43,870 TOTAL ASSETS $ 916,514 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,211,410 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 74,344 $ 994 $ — $ 75,338 Customer deposits — 11,759 — — 11,759 Intercompany liabilities — 314,946 15,840 (330,786 ) — Other liabilities — 74,413 5,310 — 79,723 Community development district obligations — 2,571 — — 2,571 Obligation for consolidated inventory not owned — 608 — — 608 Notes payable bank - homebuilding operations — 30,000 — — 30,000 Notes payable bank - financial services operations — — 85,379 — 85,379 Notes payable - other — 9,518 — — 9,518 Convertible senior subordinated notes due 2017 57,500 — — — 57,500 Convertible senior subordinated notes due 2018 86,250 — — — 86,250 Senior notes 228,469 — — — 228,469 TOTAL LIABILITIES 372,219 518,159 107,523 (330,786 ) 667,115 SHAREHOLDERS’ EQUITY 544,295 555,941 20,527 (576,468 ) 544,295 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 916,514 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,211,410
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 2,428 $ (114,357 ) $ 19,161 $ (2,428 ) $ (95,196 ) INVESTING ACTIVITIES: Restricted cash — 3,615 — — 3,615 Purchase of property and equipment — (1,939 ) (64 ) — (2,003 ) Intercompany investing 193 — — (193 ) — Investments in and advances to unconsolidated joint ventures — (2,728 ) (7,997 ) — (10,725 ) Net proceeds from the sale of mortgage servicing rights — — 3,065 — 3,065 Net cash provided by (used in) investing activities 193 (1,052 ) (4,996 ) (193 ) (6,048 ) FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 329,400 — — 329,400 Principal repayments of bank borrowings - homebuilding operations — (203,300 ) — — (203,300 ) Net proceeds from bank borrowings - financial services operations — — (12,140 ) — (12,140 ) Principal proceeds from notes payable - other and CDD bond obligations — (155 ) — — (155 ) Proceeds from exercise of stock options 1,035 — — — 1,035 Intercompany financing — (6,158 ) 5,965 193 — Dividends paid (3,656 ) — (2,428 ) 2,428 (3,656 ) Debt issue costs — (380 ) (40 ) — (420 ) Net cash (used in) provided by financing activities (2,621 ) 119,407 (8,643 ) 2,621 110,764 Net increase in cash and cash equivalents — 3,998 5,522 — 9,520 Cash and cash equivalents balance at beginning of period — 3,872 11,663 — 15,535 Cash and cash equivalents balance at end of period $ — $ 7,870 $ 17,185 $ — $ 25,055 Nine Months Ended September 30, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 8,275 $ (124,022 ) $ 17,311 $ (8,275 ) $ (106,711 ) INVESTING ACTIVITIES: Restricted cash — 4,912 — — 4,912 Purchase of property and equipment — (2,222 ) (125 ) — (2,347 ) Investments in and advances to unconsolidated joint ventures — (12,080 ) (4,738 ) — (16,818 ) Net proceeds from the sale of mortgage servicing rights — — 2,135 — 2,135 Return of capital from unconsolidated joint ventures — — 619 — 619 Net cash used in investing activities — (9,390 ) (2,109 ) — (11,499 ) FINANCING ACTIVITIES: Net repayments from bank borrowings - financial services operations — 14,400 (6,251 ) — 8,149 Principal repayments from notes payable - other and CDD bond obligations — 740 — — 740 Proceeds from exercise of stock options 1,460 — — — 1,460 Intercompany financing (6,079 ) 8,676 (2,597 ) — — Dividends paid (3,656 ) — (8,275 ) 8,275 (3,656 ) Debt issue costs — — (40 ) — (40 ) Net cash (used in) provided by financing activities (8,275 ) 23,816 (17,163 ) 8,275 6,653 Net decrease in cash and cash equivalents — (109,596 ) (1,961 ) — (111,557 ) Cash and cash equivalents balance at beginning of period — 113,407 15,318 — 128,725 Cash and cash equivalents balance at end of period $ — $ 3,811 $ 13,357 $ — $ 17,168

Inventory and Capitalized Int24

Inventory and Capitalized Interest Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory [Abstract]
Single-family lots, land and land development costs	$ 539,517	$ 463,198
Land held for sale	5,803	10,647
Homes under construction	488,041	371,119
Model homes and furnishings - at cost (less accumulated depreciation: September 30, 2015 - $8,052; December 31, 2014 - $7,010)	65,482	46,780
Community development district infrastructure	1,159	2,571
Land Purchase Deposits	21,994	23,495
Consolidated Inventory Not Owned	11,418	779
Total Inventory	$ 1,133,414	$ 918,589

Inventory and Capitalized Int25

Inventory and Capitalized Interest Inventory Parentheticals (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Parantheticals - Inventory [Abstract]
Model Home Accumulated Depreciation	$ 8,052	$ 7,010

Inventory and Capitalized Int26

Inventory and Capitalized Interest Other Inventory Items - Homes under construction not subject to a sale contract (Details) $ in Millions	Sep. 30, 2015USD ($)homes	Dec. 31, 2014USD ($)
Other Inventory, Gross [Abstract]
Number of Speculative Homes	962	979
Speculative Homes Carrying Value	$ 183.8	$ 186.7

Inventory and Capitalized Int27

Inventory and Capitalized Interest Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Real Estate Inventory, Capitalized Interest Costs	$ 16,437	$ 14,831	$ 15,296	$ 13,802
Real Estate Inventory, Capitalized Interest Costs Incurred	5,006	5,161	13,466	13,141
Real Estate Inventory, Capitalized Interest Costs, Cost of Sales	(4,318)	(4,281)	(11,637)	(11,232)
Real Estate Inventory, Capitalized Interest Costs	17,125	15,711	17,125	15,711
Interest Costs Incurred	$ 8,664	$ 7,810	$ 25,336	$ 22,690

Investment in Unconsolidated 28

Investment in Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Increase in Investments in Unconsolidated JVs and other joint agreements	$ 5,500
Investments in unconsolidated joint ventures	33,282		$ 27,769
Payments to Acquire Interest in Subsidiaries and Affiliates	10,725	$ 16,818
Distribution of single-family lots from unconsolidated joint ventures	5,460	$ 10,758
Limited Partners' Contributed Capital	33,282
Notes Receivable, Related Parties	2,500
Capitalized Interest and Other Costs Included in Investment in Unconsolidated LLCs	$ 395		$ 245
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	74.00%		61.00%
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	25.00%		25.00%

Fair Value Measurements Notiona

Fair Value Measurements Notional Amount of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Notional Disclosures [Abstract]
Best efforts contracts and related committed IRLCs	$ 5,554	$ 3,072
Uncommitted IRLCs	79,604	28,028
FMBSs related to uncommitted IRLCs	80,000	41,000
Best efforts contracts and related mortgage loans held for sale	11,057	61,233
FMBSs related to mortgage loans held for sale	64,000	27,000
Mortgage loans held for sale covered by FMBSs	$ 63,977	$ 26,825

Fair Value Measurements Assets

Fair Value Measurements Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Total Fair Value - Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	$ 77,064	$ 92,953
Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	77,064	92,953
Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Mortgage Loans Held for Sale [Member] \| Total Fair Value - Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	77,550	92,794
Mortgage Loans Held for Sale [Member] \| Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Mortgage Loans Held for Sale [Member] \| Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	77,550	92,794
Mortgage Loans Held for Sale [Member] \| Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Forward Sales or Mortgage Backed Securities [Member] \| Total Fair Value - Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	(1,270)	(182)
Forward Sales or Mortgage Backed Securities [Member] \| Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Forward Sales or Mortgage Backed Securities [Member] \| Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	(1,270)	(182)
Forward Sales or Mortgage Backed Securities [Member] \| Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Interest Rate Lock Commitments [Member] \| Total Fair Value - Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	985	288
Interest Rate Lock Commitments [Member] \| Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Interest Rate Lock Commitments [Member] \| Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	985	288
Interest Rate Lock Commitments [Member] \| Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Best Efforts Contracts [Member] \| Total Fair Value - Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	(201)	53
Best Efforts Contracts [Member] \| Fair Value, Inputs - Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	0	0
Best Efforts Contracts [Member] \| Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	(201)	53
Best Efforts Contracts [Member] \| Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	$ 0	$ 0

Fair Value Measurements (Loss)

Fair Value Measurements (Loss) Gain On Assets and Liabilities Measured On A Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	$ (136)	$ (541)	$ 116	$ 2,095
Mortgage Loans Held for Sale [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	1,585	(959)	761	2,556
Forward Sales or Mortgage Backed Securities [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	(2,520)	398	(1,088)	(786)
Interest Rate Lock Commitments [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	924	(144)	696	753
Best Efforts Contracts [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	$ (125)	$ 164	$ (253)	$ (428)

Fair Value Measurements Balance

Fair Value Measurements Balance Sheet Location of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	$ 985	$ 346
Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	1,471	187
Forward Sales or Mortgage Backed Securities [Member] \| Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	0	0
Forward Sales or Mortgage Backed Securities [Member] \| Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	1,270	182
Interest Rate Lock Commitments [Member] \| Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	985	288
Interest Rate Lock Commitments [Member] \| Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	0	0
Best Efforts Contracts [Member] \| Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	0	58
Best Efforts Contracts [Member] \| Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	$ 201	$ 5

Fair Value Measurements Asset33

Fair Value Measurements Assets and Liabilities Measured on a Non-Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long Lived Real Estate Assets Fair Value Disclosure	$ 0	$ 76	$ 0	$ 1,605
Total losses	0	622	0	1,426
Long Lived Assets Initial Basis	$ 0	$ 698	$ 0	$ 3,031

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Carrying (Reported) Amount, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	$ 28,126	$ 22,486
Mortgage loans held for sale	77,550	92,794
Split dollar life insurance policies	202	187
Notes receivable	3,172	4,288
Commitments to extend real estate loans (assets)	985	289
Best efforts contracts for committed IRLCs and mortgage loans held for sale - fair value disclosures (assets)	0	58
LIABILITIES:
Notes Payable - Homebuilding Fair Value Disclosure	156,100	30,000
Notes Payable - Financial Services Fair Value Disclosure	73,239	85,379
Notes payable - other	9,363	9,518
Convertible senior subordinated notes due 2017 - Fair Value Disclosure	57,500	57,500
Convertible senior subordinated notes due 2018 - Fair Value Disclosure	86,250	86,250
Senior notes	228,769	228,469
Best efforts contracts for committed IRLCs and mortgage loans held for sale	201	0
Forward sales of mortgage-backed securities	1,270	182
Off-Balance Sheet Letters of Credit	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	28,126	22,486
Mortgage loans held for sale	77,550	92,794
Split dollar life insurance policies	202	187
Notes receivable	3,107	3,793
Commitments to extend real estate loans (assets)	985	289
Best efforts contracts for committed IRLCs and mortgage loans held for sale - fair value disclosures (assets)	0	58
LIABILITIES:
Notes Payable - Homebuilding Fair Value Disclosure	156,100	30,000
Notes Payable - Financial Services Fair Value Disclosure	73,239	85,379
Notes payable - other	10,201	9,089
Convertible senior subordinated notes due 2017 - Fair Value Disclosure	63,969	67,634
Convertible senior subordinated notes due 2018 - Fair Value Disclosure	84,956	87,544
Senior notes	234,025	239,488
Best efforts contracts for committed IRLCs and mortgage loans held for sale	201	0
Forward sales of mortgage-backed securities	1,270	182
Off-Balance Sheet Letters of Credit	$ 837	$ 881

Fair Value Measurements Fair 35

Fair Value Measurements Fair Value of Financial Instrument Assumptions (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value of Financial Instrument Assumptions [Line Items]
Letters of Credit Potential Commitments, Amount	$ 37.7	$ 33.6
First Amendment to New Unsecured Credit Facility [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	400
Repurchase Agreement [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Maximum Borrowing Capacity under MIF Warehousing Line	$ 15

Guarantees and Indemnificatio36

Guarantees and Indemnifications Warranty Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Warranty Accrual Rollforward [Abstract]
Warranty reserves, beginning of period	$ 10,638	$ 11,220	$ 12,671	$ 12,291
Warranty expense on homes delivered during the period	2,263	1,923	5,847	4,962
Changes in estimates for pre-existing warranties	905	1,047	1,580	1,937
Settlements made during the period	(3,328)	(3,508)	(9,620)	(8,508)
Warranty reserves, end of period	$ 10,478	$ 10,682	$ 10,478	$ 10,682

Guarantees and Indemnificatio37

Guarantees and Indemnifications Guarantees (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Senior notes	$ 228,769	$ 228,469
Convertible senior subordinated notes due 2017	57,500	57,500
Convertible senior subordinated notes due 2018	86,250	86,250
Total of Loans Covered by Guarantees	18,900	33,400
Total of Guaranteed Loans Inquired About	7,200	9,100
Total Loans Indemnified to third parties	2,200	2,000
Loan Repurchase Guarantee Liability	$ 2,200	$ 2,900
2018 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.625%
2017 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.25%
2018 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Face Value [Member]
Debt Instrument [Line Items]
Senior notes	$ 230,000

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2015USD ($)
Commitments and Contingencies [Abstract]
Letters of credit and completion bonds	$ 150.8
Performance bonds outstanding	101.2
Performance letters of credit outstanding	25.3
Financial letters of credit	12.4
Financial letters of credit representing deposits on land and lot purchase agreements	6.5
Financial Bonds	11.9
Unrecorded conditional purchase obligation	$ 495.2

Commitments and Contingencies L

Commitments and Contingencies Legal Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Other Liabilities Disclosure [Abstract]
Amount Reserved for Legal Expenses	$ 0.5	$ 0.2

Debt Debt (Details)

Debt Debt (Details) $ in Thousands	Sep. 30, 2015USD ($)	Sep. 29, 2015USD ($)	Aug. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount	$ 523,400
Notes payable bank - homebuilding operations	156,100			$ 30,000
letters of credit outstanding under credit facility	34,700
Maximum borrowing availability subject to limit	$ 209,200
Number of Secured Letters of Credit Outstanding under Credit Facility	3
Aggregate Capacity of Secured Letters of Credit under Credit Facility	$ 12,000
Uncommitted Letters of Credit	4,800
Letters of Credit Outstanding Under Letter of Credit Facilities	2,900			6,500
Restricted Cash for Secured Letter of Credit Agreements	3,000			$ 6,600
Regions Bank [Member]
Line of Credit Facility [Line Items]
Maximum available amounts under Letter of Credit Facilities	3,000		$ 5,000
U.S. Bank [Member]
Line of Credit Facility [Line Items]
Maximum available amounts under Letter of Credit Facilities	4,000	$ 10,000
Low Range Uncommitted Letter of Credit [Member]
Line of Credit Facility [Line Items]
Maximum available amounts under Letter of Credit Facilities	3,000
High Range Uncommittted Letter of Credit [Member]
Line of Credit Facility [Line Items]
Maximum available amounts under Letter of Credit Facilities	5,000
First Amendment to New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Sub-limit for letters of credit	125,000
Line of Credit Facility, Current Borrowing Capacity	300,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 400,000
Maximum [Member] \| New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	250
Minimum [Member] \| New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	150

Debt MIF Warehousing Agreement

Debt MIF Warehousing Agreement (Details) $ in Thousands	9 Months Ended
Debt MIF Warehousing Agreement (Details) $ in Thousands	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Maximum Borrowing Availability under all Credit Lines	$ 125,000
Notes payable bank - financial service operations	73,239	$ 85,379
Warehousing Agreement - Third Amendment to Amended and Restated [Member]
Debt Instrument [Line Items]
Maximum Borrowing Capacity under MIF Warehousing Line	110,000
Optional increase in borrowing availability	20,000
Aggreate Maximum Principal Amount Permitted to be Outstanding Under All Warehousing Credit Lines	$ 150,000
LIBOR basis points	250
Debt Instrument, Basis Spread on Variable Rate	2.80%
Repurchase Agreement [Member]
Debt Instrument [Line Items]
Maximum Borrowing Capacity under MIF Warehousing Line	$ 15,000
Minimum [Member] \| Repurchase Agreement [Member]
Debt Instrument [Line Items]
LIBOR basis points	275
Maximum [Member] \| Repurchase Agreement [Member]
Debt Instrument [Line Items]
LIBOR basis points	300

Debt Senior Notes (Details)

Debt Senior Notes (Details) $ / shares in Units, shares in Millions	9 Months Ended	12 Months Ended		24 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares	Nov. 14, 2016	Nov. 14, 2015	Nov. 15, 2018	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Senior notes	$ 228,769,000				$ 228,469,000
Convertible senior subordinated notes due 2018	86,250,000				86,250,000
Convertible senior subordinated notes due 2017	$ 57,500,000				57,500,000
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		102.156%	104.313%	100.00%
Preferred Stock, Dividend Rate, Percentage	9.75%
Restricted Payments Basket	$ 159,600,000				$ 148,600,000
2018 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.625%
2017 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Debt Instrument, Convertible, Conversion Ratio	42.0159
Debt Instrument Convertible Principal Amount Used In Conversion Rate Calculation	$ 1,000
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 23.80
Stock Issued During Period, Shares, Other \| shares	2.4
2018 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Debt Instrument, Convertible, Conversion Ratio	30.9478
Debt Instrument Convertible Principal Amount Used In Conversion Rate Calculation	$ 1,000
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 32.31
Stock Issued During Period, Shares, Other \| shares	2.7
Face Value [Member]
Debt Instrument [Line Items]
Senior notes	$ 230,000,000
Base of restricted payments basket income calculation [Member]
Debt Instrument [Line Items]
Other Restrictions on Payment of Dividends	$ 40,000,000
Percentage of our aggregate consolidated net income added to base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	50.00%
Percentage of our aggregate consolidated net income subtracted from base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	100.00%
Percentage of net cash proceeds from sale of qualified equity interests added to base and income/loss amount in calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	100.00%

Debt Notes Payable Other (Detai

Debt Notes Payable Other (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Notes payable - other	$ 9,363	$ 9,518
Secured Debt	$ 4,000	$ 4,300
Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.10%

Earnings per Share Earnings p44

Earnings per Share Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share Calculation [Line Items]
Net Income, Including Portion Attributable to Noncontrolling Interest	$ 15,570	$ 13,617	$ 38,488	$ 39,803
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Preferred Dividends	(1,218)	(1,218)	(3,656)	(3,656)
Net income to common shareholders	14,352	12,399	34,832	36,147
Net Income Available to Common Stockholders, Diluted	$ 15,226	$ 13,263	$ 37,456	$ 38,754
Weighted Average Number of Shares Outstanding, Basic	24,605	24,474	24,551	24,454
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Stock Options	244	214	238	223
Incremental Common Shares Attributable to Deferred Compensation	133	148	147	138
Weighted Average Number of Shares Outstanding, Diluted	30,067	29,921	30,021	29,900
Earnings Per Share, Basic	$ 0.58	$ 0.51	$ 1.42	$ 1.48
Earnings Per Share, Diluted	$ 0.51	$ 0.44	$ 1.25	$ 1.30
Anti-dilutive stock equivalent awards not included in the calculation of diluted loss per share	1,460	1,286	1,443	1,243
2017 Convertible Senior Notes [Member]
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Interest on Convertible Debt, Net of Tax	$ 372	$ 368	$ 1,117	$ 1,110
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Conversion of Debt Securities	2,416	2,416	2,416	2,416
2018 Convertible Senior Notes [Member]
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Interest on Convertible Debt, Net of Tax	$ 502	$ 496	$ 1,507	$ 1,497
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Conversion of Debt Securities	2,669	2,669	2,669	2,669

Income Taxes Income Tax (Narrat

Income Taxes Income Tax (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Valuation Allowance [Line Items]
Provision for income taxes	$ 10,928	$ 8,586	$ 25,587	$ 10,188
Deferred tax asset valuation allowances			$ 0	$ 9,291
Effective Income Tax Rate Reconciliation, Percent	41.20%	38.70%	39.90%	20.40%

Income Taxes Net Operating Loss

Income Taxes Net Operating Loss Carryforwards (Details) $ in Millions	Sep. 30, 2015USD ($)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 9.5
Expiring between 2028 and 2032 [Member] \| State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	6.1
Expiring beginning in 2028 [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	29.5
Federal Tax Credit Carryforward, Amount	8.6
Expiring between 2015 and 2027 [Member] \| State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 3.4

Business Segments Business Se47

Business Segments Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenue	$ 363,457	$ 330,767	$ 949,472	$ 847,216
Operating Income (Loss)	30,120	24,830	75,697	59,478
Interest	3,658	2,649	11,870	9,549
Equity in income of unconsolidated joint ventures	(36)	(22)	(248)	(62)
Income before income taxes	26,498	22,203	64,075	49,991
Valuation Adjustments To Operating Communities				800
Valuation Adjustments To Future Communities		600		600
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	128,121	118,319	331,479	283,472
Operating Income (Loss)	13,511	12,802	33,526	26,771
Interest	649	450	2,536	2,211
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	137,185	118,150	341,139	299,472
Operating Income (Loss)	13,860	10,215	30,421	24,741
Interest	1,649	968	5,185	3,927
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	88,875	86,718	250,546	242,357
Operating Income (Loss)	6,350	6,511	19,376	18,888
Interest	948	829	3,011	2,392
Financial Services [Member]
Segment Reporting Information [Line Items]
Financial services revenue	9,276	7,580	26,308	21,915
Operating Income (Loss)	4,856	3,804	15,425	12,204
Interest	412	402	1,138	1,019
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Selling, general and administrative expenses	$ (8,457)	$ (8,502)	$ (23,051)	$ (23,126)

Business Segments Business Se48

Business Segments Business Segments - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	$ 21,994	$ 23,495
Inventory	1,111,420	895,094
Investments in unconsolidated joint ventures	33,282	27,769
Other assets	239,306	265,052
Total assets	1,406,002	1,211,410
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	3,092	4,573
Inventory	366,677	303,037
Investments in unconsolidated joint ventures	5,783	1,764
Other assets	10,208	7,933
Total assets	385,760	317,307
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	14,940	14,752
Inventory	423,588	331,938
Investments in unconsolidated joint ventures	27,499	26,005
Other assets	29,001	16,829
Total assets	495,028	389,524
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	3,962	4,170
Inventory	321,155	260,119
Investments in unconsolidated joint ventures	0	0
Other assets	8,081	7,536
Total assets	333,198	271,825
Corporate, Financial Services and Unallocated [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	0	0
Inventory	0	0
Investments in unconsolidated joint ventures	0	0
Other assets	192,016	232,754
Total assets	$ 192,016	$ 232,754

Supplemental Guarantor Inform49

Supplemental Guarantor Information Supplemental Guarantor Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue	$ 363,457	$ 330,767	$ 949,472	$ 847,216
Land and housing	285,416	261,636	744,194	666,817
Impairment of inventory and investment in unconsolidated joint ventures	0	622	0	1,426
General and administrative	23,651	21,724	64,690	61,320
Selling	24,270	21,955	64,891	58,175
Equity in income of unconsolidated joint ventures	(36)	(22)	(248)	(62)
Interest	3,658	2,649	11,870	9,549
Total costs and expenses	336,959	308,564	885,397	797,225
Income before income taxes	26,498	22,203	64,075	49,991
Provision for income taxes	10,928	8,586	25,587	10,188
Equity In subsidiaries	0	0	0	0
Net income	15,570	13,617	38,488	39,803
Preferred Dividends	1,218	1,218	3,656	3,656
Net income to common shareholders	14,352	12,399	34,832	36,147
Parent [Member]
Revenue	0	0	0	0
Land and housing	0	0	0	0
Impairment of inventory and investment in unconsolidated joint ventures		0		0
General and administrative	0	0	0	0
Selling	0	0	0	0
Equity in income of unconsolidated joint ventures	0	0	0	0
Interest	0	0	0	0
Total costs and expenses	0	0	0	0
Income before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity In subsidiaries	15,570	13,617	38,488	39,803
Net income	15,570	13,617	38,488	39,803
Preferred Dividends	1,218	1,218	3,656	3,656
Net income to common shareholders	14,352	12,399	34,832	36,147
Guarantor Subsidiaries [Member]
Revenue	354,181	323,187	923,164	825,301
Land and housing	285,416	261,636	744,194	666,817
Impairment of inventory and investment in unconsolidated joint ventures		622		1,426
General and administrative	19,080	17,811	53,334	51,159
Selling	24,270	21,955	64,891	58,175
Equity in income of unconsolidated joint ventures	0	0	0	0
Interest	3,246	2,248	10,732	8,530
Total costs and expenses	332,012	304,272	873,151	786,107
Income before income taxes	22,169	18,915	50,013	39,194
Provision for income taxes	9,531	7,428	20,690	5,991
Equity In subsidiaries	0	0	0	0
Net income	12,638	11,487	29,323	33,203
Preferred Dividends	0	0	0	0
Net income to common shareholders	12,638	11,487	29,323	33,203
Non-Guarantor Subsidiaries [Member]
Revenue	9,276	7,580	26,308	21,915
Land and housing	0	$ 0	0	0
Impairment of inventory and investment in unconsolidated joint ventures				0
General and administrative	4,571	$ 3,913	11,356	10,161
Selling	0	0	0	0
Equity in income of unconsolidated joint ventures	(36)	(22)	(248)	(62)
Interest	412	401	1,138	1,019
Total costs and expenses	4,947	4,292	12,246	11,118
Income before income taxes	4,329	3,288	14,062	10,797
Provision for income taxes	1,397	1,158	4,897	4,197
Equity In subsidiaries	0	0	0	0
Net income	2,932	2,130	9,165	6,600
Preferred Dividends	0	0	0	0
Net income to common shareholders	2,932	2,130	9,165	6,600
Corporate Elimination [Member]
Revenue	0	0	0	0
Land and housing	0	0	0	0
Impairment of inventory and investment in unconsolidated joint ventures		0		0
General and administrative	0	0	0	0
Selling	0	0	0	0
Equity in income of unconsolidated joint ventures	0	0	0	0
Interest	0	0	0	0
Total costs and expenses	0	0	0	0
Income before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity In subsidiaries	(15,570)	(13,617)	(38,488)	(39,803)
Net income	(15,570)	(13,617)	(38,488)	(39,803)
Preferred Dividends	0	0	0	0
Net income to common shareholders	$ (15,570)	$ (13,617)	$ (38,488)	$ (39,803)

Supplemental Guarantor Inform50

Supplemental Guarantor Information Supplemental Guarantor Information - Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
ASSETS:
Cash and cash equivalents	$ 25,055	$ 15,535	$ 17,168	$ 128,725
Restricted cash	3,071	6,951
Mortgage loans held for sale	77,550	92,794
Inventory	1,133,414	918,589
Property and equipment - net	11,841	11,490
Investments in unconsolidated joint ventures	33,282	27,769
Deferred Income taxes	70,943	94,412
Investment in subsidiaries	0	0
Intercompany	0	0
Other assets	50,846	43,870
TOTAL ASSETS	1,406,002	1,211,410
LIABILITIES:
Accounts payable	95,950	75,338
Customer deposits	18,976	11,759
Intercompany liabilities	0	0
Other liabilities	83,940	79,723
Community development district (“CDD”) obligations	1,159	2,571
Obligation for consolidated inventory not owned	11,418	608
Notes payable bank - homebuilding operations	156,100	30,000
Notes payable bank - financial service operations	73,239	85,379
Notes payable - other	9,363	9,518
Convertible senior subordinated notes due 2017	57,500	57,500
Convertible senior subordinated notes due 2018	86,250	86,250
Senior notes	228,769	228,469
TOTAL LIABILITIES	822,664	667,115
TOTAL SHAREHOLDERS' EQUITY	583,338	544,295
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,406,002	1,211,410
Parent [Member]
ASSETS:
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investments in unconsolidated joint ventures	0	0
Deferred Income taxes	0	0
Investment in subsidiaries	612,528	576,468
Intercompany	335,724	330,786
Other assets	7,605	9,260
TOTAL ASSETS	955,857	916,514
LIABILITIES:
Accounts payable	0	0
Customer deposits	0	0
Intercompany liabilities	0	0
Other liabilities	0	0
Community development district (“CDD”) obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0	0
Notes payable bank - financial service operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2017	57,500	57,500
Convertible senior subordinated notes due 2018	86,250	86,250
Senior notes	228,769	228,469
TOTAL LIABILITIES	372,519	372,219
TOTAL SHAREHOLDERS' EQUITY	583,338	544,295
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	955,857	916,514
Guarantor Subsidiaries [Member]
ASSETS:
Cash and cash equivalents	7,870	3,872	3,811	113,407
Restricted cash	$ 3,071	6,951
Mortgage loans held for sale		0
Inventory	$ 1,133,414	918,589
Property and equipment - net	11,567	11,189
Investments in unconsolidated joint ventures	12,066	15,033
Deferred Income taxes	70,880	94,088
Investment in subsidiaries	0	0
Intercompany	0	0
Other assets	29,156	24,378
TOTAL ASSETS	1,268,024	1,074,100
LIABILITIES:
Accounts payable	95,107	74,344
Customer deposits	18,976	11,759
Intercompany liabilities	313,762	314,946
Other liabilities	76,876	74,413
Community development district (“CDD”) obligations	1,159	2,571
Obligation for consolidated inventory not owned	11,418	608
Notes payable bank - homebuilding operations	156,100	30,000
Notes payable bank - financial service operations	0	0
Notes payable - other	9,363	9,518
Convertible senior subordinated notes due 2017	0	0
Convertible senior subordinated notes due 2018	0	0
Senior notes	0	0
TOTAL LIABILITIES	682,761	518,159
TOTAL SHAREHOLDERS' EQUITY	585,263	555,941
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,268,024	1,074,100
Non-Guarantor Subsidiaries [Member]
ASSETS:
Cash and cash equivalents	17,185	11,663	13,357	15,318
Restricted cash	0	0
Mortgage loans held for sale	77,550	92,794
Inventory	0	0
Property and equipment - net	274	301
Investments in unconsolidated joint ventures	21,216	12,736
Deferred Income taxes	63	324
Investment in subsidiaries	0	0
Intercompany	0	0
Other assets	14,085	10,232
TOTAL ASSETS	130,373	128,050
LIABILITIES:
Accounts payable	843	994
Customer deposits	0	0
Intercompany liabilities	21,962	15,840
Other liabilities	7,064	5,310
Community development district (“CDD”) obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0	0
Notes payable bank - financial service operations	73,239	85,379
Notes payable - other	0	0
Convertible senior subordinated notes due 2017	0	0
Convertible senior subordinated notes due 2018	0	0
Senior notes	0	0
TOTAL LIABILITIES	103,108	107,523
TOTAL SHAREHOLDERS' EQUITY	27,265	20,527
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	130,373	128,050
Corporate Elimination [Member]
ASSETS:
Cash and cash equivalents	0	0	$ 0	$ 0
Restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investments in unconsolidated joint ventures	0	0
Deferred Income taxes	0	0
Investment in subsidiaries	(612,528)	(576,468)
Intercompany	(335,724)	(330,786)
Other assets	0	0
TOTAL ASSETS	(948,252)	(907,254)
LIABILITIES:
Accounts payable	0	0
Customer deposits	0	0
Intercompany liabilities	(335,724)	(330,786)
Other liabilities	0	0
Community development district (“CDD”) obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0	0
Notes payable bank - financial service operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2017	0	0
Convertible senior subordinated notes due 2018	0	0
Senior notes	0	0
TOTAL LIABILITIES	(335,724)	(330,786)
TOTAL SHAREHOLDERS' EQUITY	(612,528)	(576,468)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ (948,252)	$ (907,254)

Supplemental Guarantor Inform51

Supplemental Guarantor Information Supplemental Guarantor Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	$ (95,196)	$ (106,711)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	3,615	4,912
Purchase of property and equipment	(2,003)	(2,347)
Intercompany Investing	0
Investment in unconsolidated joint ventures	(10,725)	(16,818)
Return of investment from Unconsolidated LLCs	0	619
Net Proceeds from Sale of Mortgage Servicing Rights	3,065	2,135
Net cash provided by (used in) investing activities	(6,048)	(11,499)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	329,400	0
Repayments of bank borrowings - homebuilding operations	(203,300)	0
Net proceeds from (Repayments of) bank borrowings - financial services operations	(12,140)	8,149
Principal repayments of note payable-other and community development district bond obligations	(155)	740
Proceeds from exercise of stock options	1,035	1,460
Intercompany Financing	0	0
Dividends paid	(3,656)	(3,656)
Debt issue costs	(420)	(40)
Net cash (used in) provided by financing activities	110,764	6,653
Net increase (decrease) in cash and cash equivalents	9,520	(111,557)
Cash and cash equivalents balance at beginning of period	15,535	128,725
Cash and cash equivalents balance at end of period	25,055	17,168
Parent [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	2,428	8,275
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	0	0
Purchase of property and equipment	0	0
Intercompany Investing	193
Investment in unconsolidated joint ventures	0	0
Return of investment from Unconsolidated LLCs		0
Net Proceeds from Sale of Mortgage Servicing Rights	0	0
Net cash provided by (used in) investing activities	193	0
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	0
Repayments of bank borrowings - homebuilding operations	0
Net proceeds from (Repayments of) bank borrowings - financial services operations	0	0
Principal repayments of note payable-other and community development district bond obligations	0	0
Proceeds from exercise of stock options	1,035	1,460
Intercompany Financing	0	(6,079)
Dividends paid	(3,656)	(3,656)
Debt issue costs	0	0
Net cash (used in) provided by financing activities	(2,621)	(8,275)
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents balance at beginning of period	0	0
Cash and cash equivalents balance at end of period	0	0
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(114,357)	(124,022)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	3,615	4,912
Purchase of property and equipment	(1,939)	(2,222)
Intercompany Investing	0
Investment in unconsolidated joint ventures	(2,728)	(12,080)
Return of investment from Unconsolidated LLCs		0
Net Proceeds from Sale of Mortgage Servicing Rights	0	0
Net cash provided by (used in) investing activities	(1,052)	(9,390)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	329,400
Repayments of bank borrowings - homebuilding operations	(203,300)
Net proceeds from (Repayments of) bank borrowings - financial services operations	0	14,400
Principal repayments of note payable-other and community development district bond obligations	(155)	740
Proceeds from exercise of stock options	0	0
Intercompany Financing	(6,158)	8,676
Dividends paid	0	0
Debt issue costs	(380)	0
Net cash (used in) provided by financing activities	119,407	23,816
Net increase (decrease) in cash and cash equivalents	3,998	(109,596)
Cash and cash equivalents balance at beginning of period	3,872	113,407
Cash and cash equivalents balance at end of period	7,870	3,811
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	19,161	17,311
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	0	0
Purchase of property and equipment	(64)	(125)
Intercompany Investing	0
Investment in unconsolidated joint ventures	(7,997)	(4,738)
Return of investment from Unconsolidated LLCs		619
Net Proceeds from Sale of Mortgage Servicing Rights	3,065	(2,135)
Net cash provided by (used in) investing activities	(4,996)	(2,109)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	0
Repayments of bank borrowings - homebuilding operations	0
Net proceeds from (Repayments of) bank borrowings - financial services operations	(12,140)	(6,251)
Principal repayments of note payable-other and community development district bond obligations	0	0
Proceeds from exercise of stock options	0	0
Intercompany Financing	5,965	(2,597)
Dividends paid	(2,428)	(8,275)
Debt issue costs	(40)	(40)
Net cash (used in) provided by financing activities	(8,643)	(17,163)
Net increase (decrease) in cash and cash equivalents	5,522	(1,961)
Cash and cash equivalents balance at beginning of period	11,663	15,318
Cash and cash equivalents balance at end of period	17,185	13,357
Corporate Elimination [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(2,428)	(8,275)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	0	0
Purchase of property and equipment	0	0
Intercompany Investing	(193)
Investment in unconsolidated joint ventures	0	0
Return of investment from Unconsolidated LLCs		0
Net Proceeds from Sale of Mortgage Servicing Rights	0	0
Net cash provided by (used in) investing activities	(193)	0
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	0
Repayments of bank borrowings - homebuilding operations	0
Net proceeds from (Repayments of) bank borrowings - financial services operations	0	0
Principal repayments of note payable-other and community development district bond obligations	0	0
Proceeds from exercise of stock options	0	0
Intercompany Financing	193	0
Dividends paid	2,428	8,275
Debt issue costs	0	0
Net cash (used in) provided by financing activities	2,621	8,275
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents balance at beginning of period	0	0
Cash and cash equivalents balance at end of period	$ 0	$ 0