M/I Homes (MHO) 10-K 26 Feb 16 2015 FY Annual report Financial data

DEI Document

DEI Document - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 24, 2016	Jun. 30, 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-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		24,655,044
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 590,504,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Operations [Abstract]
Revenue	$ 468,923	$ 363,457	$ 322,856	$ 263,159	$ 367,964	$ 330,767	$ 281,608	$ 234,841	$ 1,418,395	$ 1,215,180	$ 1,036,782
Land and housing									1,114,663	958,991	824,508
Impairment of inventory and investment in unconsolidated joint ventures									3,638	3,457	5,805
General and administrative									93,208	88,830	79,494
Selling									95,092	81,148	68,282
Equity in income of unconsolidated joint ventures									(498)	(347)	(306)
Interest									17,521	13,365	15,938
Loss on early extinguishment of debt									7,842	0	1,726
Total costs and expenses									1,331,466	1,145,444	995,447
Income before income taxes									86,929	69,736	41,335
Provision (benefit) from income taxes									35,166	18,947	(110,088)
Net income									51,763	50,789	151,423
Preferred dividends									4,875	4,875	3,656
Excess of fair value over book value of preferred shares redeemed									0	0	2,190
Net Income Available to Common Stockholders	$ 12,056	$ 14,352	$ 12,131	$ 8,349	$ 9,767	$ 12,399	$ 12,335	$ 11,413	$ 46,888	$ 45,914	$ 145,577
Earnings per common share:
Basic	$ 0.49	$ 0.58	$ 0.49	$ 0.34	$ 0.40	$ 0.51	$ 0.50	$ 0.47	$ 1.91	$ 1.88	$ 6.11
Diluted	$ 0.43	$ 0.51	$ 0.43	$ 0.31	$ 0.36	$ 0.44	$ 0.44	$ 0.41	$ 1.68	$ 1.65	$ 5.24
Weighted average shares outstanding:
Basic	24,649	24,605	24,531	24,514	24,489	24,474	24,470	24,417	24,575	24,463	23,822
Diluted	30,107	30,067	30,023	29,975	29,944	29,921	29,913	29,870	30,047	29,912	28,763

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS:
Cash and cash equivalents	$ 10,205	$ 15,535
Restricted cash	2,896	6,951
Mortgage loans held for sale	127,001	92,794
Inventory	1,112,042	918,589
Property and equipment - net	12,897	11,490
Investment in unconsolidated joint ventures	36,967	27,769
Deferred income taxes	67,404	94,412
Other assets	46,142	37,699
TOTAL ASSETS	1,415,554	1,205,239
LIABILITIES:
Accounts payable	86,878	75,338
Customer deposits	19,567	11,759
Other liabilities	93,670	79,723
Community development district (CDD) obligations	1,018	2,571
Obligation for consolidated inventory not owned	6,007	608
Notes payable bank - homebuilding operations	43,800	30,000
Notes payable bank - financial services operations	123,648	85,379
Notes payable - other	8,441	9,518
Convertible senior subordinated notes due 2017 - net	56,518	55,943
Convertible senior subordinated notes due 2018 - net	84,714	84,006
Senior notes - net	294,727	226,099
TOTAL LIABILITIES	818,988	660,944
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 December 31, 2015 and 2014	48,163	48,163
Common shares - $.01 par value; authorized 58,000,000 shares at both December 31, 2015 and 2014; issued 27,092,723 shares at both December 31, 2015 and 2014	271	271
Additional paid-in capital	241,239	238,560
Retained earnings	355,427	308,539
Treasury shares - at cost - 2,443,679 and 2,579,813 shares at December 31, 2015 and 2014, respectively	(48,534)	(51,238)
TOTAL SHAREHOLDERS' EQUITY	596,566	544,295
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,415,554	$ 1,205,239

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 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
Treasury Stock, Shares	2,443,679	2,579,813

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - 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, 2012		4,000	21,687,253
Stockholders' Equity, Beginning Balance at Dec. 31, 2012	$ 335,428	$ 96,325	$ 246	$ 180,289	$ 117,048	$ (58,480)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	151,423				151,423
Fair value over carrying value of preferred share redeemed		$ 2,190			(2,190)
Dividends paid to preferred shareholders	(3,656)				(3,656)
Common share issuance - shares			2,461,000
Net proceeds from issuance of common shares	54,617		$ 25	54,592
Preferred shares redeemed - shares		(2,000)
Preferred share redeemed - value	(50,352)	$ (50,352)
Stock options exercised, shares			184,832
Stock options exercised - value	2,640			(1,031)		3,671
Stock-based compensation expense	2,344			2,344
Deferral of executive and director compensation	359			359
Executive and director deferred compensation distributions shares			24,858
Executive and director deferred compensation distributions	0			(493)		493
Shares Outstanding, Ending Balance at Dec. 31, 2013		2,000	24,357,943
Stockholders' Equity, Ending Balance at Dec. 31, 2013	492,803	$ 48,163	$ 271	236,060	262,625	(54,316)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	50,789				50,789
Dividends paid to preferred shareholders	(4,875)				(4,875)
Net proceeds from issuance of common shares	0
Stock options exercised, shares			147,619
Stock options exercised - value	1,944			(988)		2,932
Stock-based compensation expense	3,215			3,215
Deferral of executive and director compensation	419			419
Executive and director deferred compensation distributions shares			7,348
Executive and director deferred compensation distributions	0			(146)		146
Shares Outstanding, Ending Balance at Dec. 31, 2014		2,000	24,512,910
Stockholders' Equity, Ending 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	51,763				51,763
Dividends paid to preferred shareholders	(4,875)				(4,875)
Net proceeds from issuance of common shares	$ 0
Stock options exercised, shares	(72,640)		72,640
Stock options exercised - value	$ 1,035			(408)		1,443
Stock-based compensation expense	3,942			3,942
Deferral of executive and director compensation	406			406
Executive and director deferred compensation distributions shares			63,494
Executive and director deferred compensation distributions	0			(1,261)		1,261
Shares Outstanding, Ending Balance at Dec. 31, 2015		2,000	24,649,044
Stockholders' Equity, Ending Balance at Dec. 31, 2015	$ 596,566	$ 48,163	$ 271	$ 241,239	$ 355,427	$ (48,534)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OPERATING ACTIVITIES:
Net income	$ 51,763	$ 50,789	$ 151,423
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	3,638	2,410	5,805
Impairment of investment in unconsolidated joint ventures	0	1,047	0
Equity in income of unconsolidated joint ventures	(498)	(347)	(306)
Mortgage loan originations	(807,986)	(677,418)	(627,509)
Proceeds from the sale of mortgage loans	773,189	669,625	614,726
Fair value adjustment of mortgage loans held for sale	590	(3,191)	2,094
Capitalization of originated mortgage servicing rights	(4,726)	(4,009)	0
Amortization of mortgage servicing rights	1,010	775	0
Depreciation	6,612	5,175	4,973
Amortization of debt discount and debt issue costs	3,306	3,121	3,338
Loss on early extinguishment of debt, including transaction costs	2,883	0	1,726
Original issue discount	(3,126)	0	0
Stock-based compensation expense	3,942	3,215	2,344
Deferred Income Tax Expense	32,526	25,790	15,547
Deferred tax asset valuation allowance	0	(9,291)	(126,458)
Change in assets and liabilities:
Cash held in escrow	206	(171)	(37)
Inventory	(159,011)	(209,318)	(156,708)
Other assets	(6,296)	(5,286)	(10,219)
Accounts payable	9,827	5,112	22,536
Customer deposits	3,458	497	1,023
Accrued compensation	1,861	1,182	9,753
Other liabilities	4,673	7,618	11,975
Net cash used in operating activities	(82,159)	(132,675)	(73,974)
INVESTING ACTIVITIES:
Change in restricted cash	3,849	7,122	(5,185)
Purchase of property and equipment	(3,659)	(2,946)	(2,382)
Acquisition, net of cash acquired	(23,950)	0	0
Return of capital from unconsolidated joint ventures	1,226	1,523	1,522
Investment in unconsolidated joint ventures	(18,162)	(20,415)	(29,509)
Net proceeds from sale of mortgage servicing rights	3,065	2,135	0
Net cash provided by (used in) investing activities	(37,631)	(12,581)	(35,554)
FINANCING ACTIVITIES:
Repayment of senior notes, including transaction costs	(226,874)	0	0
Net proceeds from issuance of senior notes	300,000	0	0
Proceeds from issuance of convertible senior subordinated notes	0	0	86,250
Net proceeds from issuance of common shares	0	0	54,617
Proceeds from bank borrowings - homebuilding operations	417,300	192,600	0
Repayment of bank borrowings - homebuilding operations	(403,500)	(162,600)	0
Net proceeds from bank borrowings - financial services operations	38,269	5,350	12,072
(Principal repayment of) proceeds from notes payable-other and CDD bond obligations	(1,077)	1,728	(3,315)
Dividends paid on preferred shares	(4,875)	(4,875)	(3,656)
Redemption of preferred shares	0	0	(50,352)
Debt issue costs	(5,818)	(2,081)	(5,501)
Proceeds from exercise of stock options	1,035	1,944	2,640
Net cash provided by financing activities	114,460	32,066	92,755
Net increase (decrease) in cash and cash equivalents	(5,330)	(113,190)	(16,773)
Cash and cash equivalents balance at beginning of period	15,535	128,725	145,498
Cash and cash equivalents balance at end of period	10,205	15,535	128,725
Cash paid during the year for:
Interest — net of amount capitalized	15,173	9,730	11,834
Income taxes	2,308	2,386	765
NON-CASH TRANSACTIONS DURING THE PERIOD:
Community development district infrastructure	(1,553)	(559)	(1,504)
Consolidated inventory not owned	5,399	(1,167)	(17,330)
Distribution of single-family lots from unconsolidated joint ventures	$ 8,236	$ 25,689	$ 4,800

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	Summary of Significant Accounting Policies Business. M/I Homes, Inc. and its subsidiaries (the “Company” or “we”) is engaged primarily in the construction and sale of single-family residential property in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Tampa and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina; and the Virginia and Maryland suburbs of Washington, D.C. The Company designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction. The Company also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others. Our homebuilding operations operate across three geographic regions in the United States. Within these regions, our operations have similar economic characteristics; therefore, they have been aggregated into three reportable homebuilding segments: Midwest homebuilding, Southern homebuilding and Mid-Atlantic homebuilding. The Company conducts mortgage financing activities through its 100%-owned subsidiary, M/I Financial, LLC (“M/I Financial”), which originates mortgage loans primarily for purchasers of the Company’s homes. The loans and the servicing rights are generally sold to outside mortgage lenders. The Company and M/I Financial also operate 100% and majority-owned subsidiaries that provide title services to purchasers of the Company’s homes. Our mortgage banking and title service activities have similar economic characteristics; therefore, they have been aggregated into one reportable segment, the financial services segment. Basis of Presentation. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of M/I Homes, Inc. and those of our consolidated subsidiaries, partnerships and other entities in which we have a controlling financial interest, and of variable interest entities in which we are deemed the primary beneficiary (collectively, “us”, “we”, “our” and the “Company”). Intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents. Liquid investments with an initial maturity of three months or less are classified as cash and cash equivalents. Amounts in transit from title companies for homes delivered of approximately $8.4 million and $7.5 million are included in cash and cash equivalents at December 31, 2015 and 2014 , respectively. Our financial services operations held $18.2 million and $11.7 million of the Company’s cash and cash equivalents at December 31, 2015 and 2014 . Restricted Cash. At December 31, 2015 and 2014 , restricted cash consists primarily of amounts held in restricted accounts as collateral for letters of credit of $2.9 million and $7.0 million , respectively. 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. Refer to the Revenue Recognition policy described below for additional discussion. Inventory. 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. Land acquisition, land development and common costs (both incurred and estimated to be incurred) are typically allocated to individual lots based on the total number of lots expected to be closed in each community or phase, or based on the relative fair value, the relative sales value or the front footage method of each lot. Any changes to the estimated total development costs of a community or phase are allocated proportionately to homes remaining in the community or phase and homes previously closed. The cost of individual lots is transferred to homes under construction when home construction begins. Home construction costs are accumulated on a specific identification basis. Costs of home deliveries include the specific construction cost of the home and the allocated lot costs. Such costs are charged to cost of sales simultaneously with revenue recognition, as discussed above. When a home is closed, we typically have not yet paid all incurred costs necessary to complete the home. As homes close, we compare the home construction budget to actual recorded costs to date to estimate the additional costs to be incurred from our subcontractors related to the home. We record a liability and a corresponding charge to cost of sales for the amount we estimate will ultimately be paid related to that home. We monitor the accuracy of such estimates by comparing actual costs incurred in subsequent months to the estimate, although actual costs to complete a home in the future could differ from our estimates. 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 as required by the FASB Accounting Standards Codification (“ASC”) 360-10, Property, Plant and Equipment (“ASC 360”). The Company assesses inventory for recoverability on a quarterly basis if events or changes in local or national economic conditions indicate that the carrying amount of an asset may not be recoverable. In conducting our quarterly review for indicators of impairment on a community level, we evaluate, among other things, margins on sales contracts in backlog, the margins on homes that have been delivered, expected changes in margins with regard to future home sales over the life of the community, expected changes in margins with regard to future land sales, the value of the land itself as well as any results from third party appraisals. We pay particular attention to communities in which inventory is moving at a slower than anticipated absorption pace, and communities whose average sales price and/or margins are trending downward and are anticipated to continue to trend downward. We also evaluate communities where management intends to lower the sales price or offer incentives in order to improve absorptions even if the community’s historical results do not indicate a potential for impairment. From the review of all of these factors, we identify communities whose carrying values may exceed their estimated undiscounted future cash flows and run a test for recoverability. For those communities whose carrying values exceed the estimated undiscounted future cash flows and which are deemed to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the communities exceeds the estimated fair value. Due to the fact that the Company’s cash flow models and estimates of fair values are based upon management estimates and assumptions, unexpected changes in market conditions and/or changes in management’s intentions with respect to the inventory may lead the Company to incur additional impairment charges in the future. Our determination of fair value is based on projections and estimates, which are Level 3 measurement inputs. Because each inventory asset is unique, there are numerous inputs and assumptions used in our valuation techniques, including 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, which could materially impact future cash flow and fair value estimates. As of December 31, 2015 , our projections generally assume a gradual improvement in market conditions over time. If communities are not recoverable based on 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 fair value of a community is estimated by discounting management’s cash flow projections using an appropriate risk-adjusted interest rate. As of both December 31, 2015 and December 31, 2014 , we utilized discount rates ranging from 13% to 16% in our valuations. The discount rate used in determining each asset’s estimated fair value reflects the inherent risks associated with the related estimated cash flow stream, as well as current risk-free rates available in the market and estimated market risk premiums. For example, construction in progress inventory, which is closer to completion, will generally require a lower discount rate than land under development in communities consisting of multiple phases spanning several years of development. Our quarterly assessments reflect management’s best estimates. Due to the inherent uncertainties in management’s estimates and uncertainties related to our operations and our industry as a whole, we are unable to determine at this time if and to what extent continuing future impairments will occur. Additionally, due to the volume of possible outcomes that can be generated from changes in the various model inputs for each community, we do not believe it is possible to create a sensitivity analysis that can provide meaningful information for the users of our financial statements. Further details relating to our assessment of inventory for recoverability are included in Note 3 to our Consolidated Financial Statements. Capitalized Interest. The Company capitalizes interest during land development and home construction. Capitalized interest is charged to cost of sales as the related inventory is delivered to a third party. The summary of capitalized interest for the years ended December 31, 2015, 2014 and 2013 is as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Capitalized interest, beginning of period $ 15,296 $ 13,802 $ 15,376 Interest capitalized to inventory 18,410 17,937 13,601 Capitalized interest charged to cost of sales (16,966 ) (16,443 ) (15,175 ) Capitalized interest, end of year $ 16,740 $ 15,296 $ 13,802 Interest incurred $ 35,931 $ 31,302 $ 29,539 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 2015 , we increased our total investment in such joint venture arrangements by $9.2 million from $27.8 million at December 31, 2014 to $37.0 million at December 31, 2015 , which was driven primarily by our increased cash contributions to our unconsolidated joint ventures of $18.2 million in 2015 , offset partially by our increased lot distributions from unconsolidated joint ventures during 2015 of $8.2 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 Consolidated Statements of Income. The Company assesses its investments in unconsolidated joint ventures for recoverability on a quarterly basis in accordance with ASC 323, Investments - Equity Method and Joint Ventures (“ASC 323”) as described below. If the fair value of the investment is less than the investment’s carrying value, and 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. The determination of whether an investment’s fair value is less than the carrying value requires management to make certain assumptions regarding the amount and timing of future contributions to the unconsolidated joint venture, the timing of distribution of lots to the Company from the unconsolidated joint venture, the projected fair value of the lots at the time of distribution to the Company, and the estimated proceeds from, and timing of, the sale of land or lots to third parties. In determining the fair value of investments in unconsolidated joint ventures, the Company evaluates the projected cash flows associated with each unconsolidated joint venture. As of both December 31, 2015 and December 31, 2014 , the Company used a discount rate of 16% in determining the fair value of investments in unconsolidated joint ventures. In addition to the assumptions management must make to determine if the investment’s fair value is less than the carrying value, management must also use judgment in determining whether the impairment is other than temporary. The factors management considers are: (1) the length of time and the extent to which the market value has been less than cost; (2) the financial condition and near-term prospects of the company; and (3) the intent and ability of the Company to retain its investment in the unconsolidated joint venture for a period of time sufficient to allow for any anticipated recovery in market value. Due to uncertainties in the estimation process and the significant volatility in demand for new housing, actual results could differ significantly from such estimates. 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 December 31, 2015 ranged from 25% to 74% and as of December 31, 2014 ranged from 25% and 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 December 31, 2015 is the amount invested of $37.0 million (in addition to a $2.5 million note due to the Company from one of the unconsolidated joint ventures), although we expect to invest further amounts in these unconsolidated joint ventures as development of the properties progresses. Further details relating to our unconsolidated joint ventures are included in Note 6 to our Consolidated Financial Statements. 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. In order to determine if we should consolidate an LLC, we determine (1) if the LLC is a variable interest entity (“VIE”) and (2) if we are the primary beneficiary of the entity. To determine whether we are the primary beneficiary of an entity, we consider whether we have the ability to control the activities of the VIE that most significantly impact its economic performance. This analysis considers, among other things, whether we have the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with M/I Homes; and the ability to change or amend the existing option contract with the VIE. If we determine that we are not able to control such activities, we are not considered the primary beneficiary of the VIE. As of December 31, 2015 and December 31, 2014 , we have determined that one of the LLCs in which we have an interest meets the requirements of a VIE due to a lack of equity at risk in the entity. However, we have determined that we do not have substantive control over that 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 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, using an analysis similar to that described above. Although we do not have legal title to the optioned land, ASC 810 requires a company to consolidate a VIE if the company is determined to be the primary beneficiary. In cases where we are the primary beneficiary, even though we do not have title to such land, we are required to consolidate these purchase/option agreements and reflect such assets and liabilities as Consolidated Inventory not Owned in our Consolidated Balance Sheets. At both December 31, 2015 and 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. Other than as described above in “Consolidated Inventory Not Owned,” the Company currently believes that its maximum exposure as of December 31, 2015 related to our land option agreements is equal to the amount of the Company’s outstanding deposits and prepaid acquisition costs, which totaled $36.4 million , including cash deposits of $23.7 million , prepaid acquisition costs of $4.1 million , letters of credit of $6.5 million and $2.1 million of other non-cash deposits. Consolidated Inventory Not Owned and Related Obligation . At December 31, 2015 and December 31, 2014 , Consolidated Inventory Not Owned was $6.0 million and $0.8 million , respectively. At December 31, 2015 and 2014 , the corresponding liability of $6.0 million and $0.6 million , respectively, has been classified as Obligation for Consolidated Inventory Not Owned on the Consolidated Balance Sheets. Property and Equipment-net. The Company records property and equipment at cost and subsequently depreciates the assets using both straight-line and accelerated methods. Following are the major classes of depreciable assets and their estimated useful lives: Year Ended December 31, 2015 2014 Land, building and improvements $ 11,823 $ 11,823 Office furnishings, leasehold improvements, computer equipment and computer software 25,676 24,281 Transportation and construction equipment 102 156 Property and equipment 37,601 36,260 Accumulated depreciation (24,704 ) (24,771 ) Property and equipment, net $ 12,897 $ 11,490 Estimated Useful Lives Building and improvements 35 years Office furnishings, leasehold improvements, computer equipment and computer software 3-7 years Transportation and construction equipment 5-7 years Depreciation expense was $2.3 million , $2.0 million and $2.2 million in 2015, 2014 and 2013 , respectively. Notes Receivable. In certain instances, we may accept consideration for land sales or other transactions in the form of a note receivable. The counterparties for these transactions are generally land developers, other real estate investors or, in some cases, affiliated unconsolidated LLCs. We consider the creditworthiness of the counterparty when evaluating the relative risk and return involved in pursuing the applicable transaction. Due to the unique facts and circumstances surrounding each receivable, we assess the need for an allowance on an individual basis. Factors considered as part of this assessment include the counterparty’s payment history, the value of any underlying collateral, communications with the counterparty, knowledge of the counterparty’s financial condition and plans, and the current and expected economic environment. Such receivables are reported net of allowance for credit losses within other assets. Such receivables are generally reported in Other Assets in our Consolidated Balance Sheets. At December 31, 2015 , Other Assets included notes receivable totaling $3.2 million with interest rates of 0% and 2% and maturities from 2016 to 2017 . At December 31, 2014 , Other Assets included notes receivable totaling $4.3 million , with interest rates ranging from 0% to 12% , and maturities from 2015 to 2016. With respect to the balance at both December 31, 2015 and 2014 , $2.5 million was from an affiliated unconsolidated joint venture. Deferred Costs. At December 31, 2015 and 2014 , unamortized debt issue costs of $2.6 million and $3.1 million , respectively, are included in Other Assets on the Consolidated Balance Sheets. The costs are primarily amortized to interest expense using the straight line method, which approximates the effective interest method. Other Assets. In addition to notes receivable and deferred costs described above, other assets include assets related to mortgage servicing rights, deposits, pre-acquisition costs for land and prepaid expenses for our insurance programs and other business related items. Warranty Reserves. We use subcontractors for nearly all aspects of home construction. Although our subcontractors are generally required to repair and replace any product or labor defects, we are, during applicable warranty periods, ultimately responsible to the homeowner for making such repairs. As such, we record warranty reserves to cover our exposure to the costs for materials and labor not expected to be covered by our subcontractors to the extent they relate to warranty-type claims. Warranty reserves are established by charging cost of sales and crediting a warranty reserve for each home closed. The amounts charged are estimated by management to be adequate to cover expected warranty-related costs described above under the Company’s warranty programs. Reserves are recorded for warranties under the following warranty programs: • Home Builder’s Limited Warranty (“HBLW”); and • 30, 15 or 10-year transferable structural warranty, depending on sales date and state. 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. At December 31, 2015 and 2014 , warranty reserves of $14.3 million and $12.7 million , respectively, are included in Other Liabilities on the Consolidated Balance Sheets. Self-insurance Reserves. Self-insurance reserves are made for estimated liabilities associated with employee health care, workers’ compensation, and general liability insurance. For 2015 , our self-insurance limit for employee health care was $250,000 per claim per year, with stop loss insurance covering amounts in excess of $250,000 . Our workers’ compensation claims are insured by a third party and carry a deductible of $250,000 per claim, except for workers compensation claims made in the State of Ohio where the Company is self-insured. Our self-insurance limit for Ohio workers’ compensation is $500,000 per claim, with stop loss insurance covering all amounts in excess of this limit. The reserves related to employee health care and workers’ compensation are based on historical experience and open case reserves. Our general liability claims are insured by a third party. The Company generally has a $7.5 million completed operations/construction defect deductible per occurrence by region and a $22.0 million deductible in the aggregate, with a $500,000 deductible for all other types of claims. The Company records a reserve for general liability claims falling below the Company’s deductible. The reserve estimate is based on an actuarial evaluation of our past history of general liability claims, other industry specific factors and specific event analysis. At December 31, 2015 and 2014 , self-insurance reserves of $1.6 million and $1.3 million , respectively, are included in Other Liabilities on the Consolidated Balance Sheets. The Company recorded expenses totaling $6.1 million , $7.8 million and $5.4 million , respectively, for all self-insured and general liability claims during the years ended December 31, 2015, 2014 and 2013 . Guarantees and Indemnities. Guarantee and indemnity liabilities are established by charging the applicable income statement or balance sheet line, depending on the nature of the guarantee or indemnity, and crediting a liability. M/I Financial provides a limited-life guarantee on loans sold to certain third parties and estimates its actual liability related to the guarantee and any indemnities subsequently provided to the purchaser of the loans in lieu of loan repurchase based on historical loss experience. Actual future costs associated with loans guaranteed or indemnified could differ materially from our current estimated amounts. The Company has also provided certain other guarantees and indemnities in connection with the purchase and development of land, including environmental indemnities, and guarantees of the completion of land development. The Company estimates these liabilities based on the estimated cost of insurance coverage or estimated cost of acquiring a bond in the amount of the exposure. Actual future costs associated with these guarantees and indemnities could differ materially from our current estimated amounts. At December 31, 2015 and 2014 , guarantees and indemnities of $1.4 million and $3.1 million , respectively, are included in Other Liabilities on the Consolidated Balance Sheets. Other Liabilities. In addition to warranty, self-insurance reserves, and reserves for guarantees and indemnities, other liabilities includes taxes payable, accrued compensation, and various other land related and miscellaneous accrued expenses. Segment Reporting. The application of segment reporting requires significant judgment in determining our operating segments. Operating segments are defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Company’s chief operating decision makers to evaluate performance, make operating decisions and determine how to allocate resources. The Company’s chief operating decision makers evaluate the Company’s performance in various ways, including: (1) the results of our 14 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding regions; 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. Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance, treasury, information technology, insurance and risk management, litigation, marketing and human resources. 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 included in 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. We may, however, be required to reclassify our reportable segments if markets that currently are being aggregated do not continue to share these aggregation characteristics. Revenue Recognition. Revenue from the sale of a home is recognized when the delivery has occurred, title has passed, the risks and rewards of ownership are transferred to the buyer, and an adequate initial and continuing investment by the homebuyer is received, or when the loan has been sold to a third-party investor. Revenue for homes that close to the buyer having a down payment of 5% or greater, home deliveries financed by third parties, and all home deliveries insured under Federal Housing Administration (“FHA”), U.S. Veterans Administration (“VA”) and other government-insured programs are recorded in the financial statements on the date of closing. Revenue related to all other home deliveries initially funded by M/I Financial, our 100%-owned subsidiary, is recorded on the date that M/I Financial sells the loan to a third-party investor, because the receivable from the third-party investor is not subject to future subordination, and the Company has transferred to this investor the usual risks and rewards of ownership that is in substance a sale and does not have a substantial continuing involvement with the home. We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or set up with the subservicer. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the g

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2015
Stock Based Compensation [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Stock-Based and Deferred Compensation Stock Incentive Plans The Company has an equity compensation plan, the M/I Homes, Inc. 2009 Long-Term Incentive Plan (the “2009 LTIP”) which has been amended from time to time. The 2009 LTIP was approved by our shareholders and is administered by the Compensation Committee of our Board of Directors. Under the 2009 LTIP, the Company is permitted to grant (1) nonqualified stock options to purchase common shares, (2) incentive stock options to purchase common shares, (3) stock appreciation rights, (4) restricted common shares, (5) other stock-based awards – awards that are valued in whole or in part by reference to, or otherwise based on, the fair market value of the common shares, and (6) cash-based awards to its officers, employees, non-employee directors and other eligible participants. Subject to certain adjustments, the plan authorizes awards to officers, employees, non-employee directors and other eligible participants for up to 2,600,000 common shares, of which 982,389 remain available for grant at December 31, 2015 . The 2009 LTIP replaced the M/I Homes, Inc. 1993 Stock Incentive Plan as Amended (the “1993 Plan”), which expired by its terms April 22, 2009. Awards outstanding under the 1993 Plan remain in effect in accordance with their respective terms. Stock Options Stock options are granted at the market price of the Company’s common shares at the close of business on the date of grant. Options awarded generally vest 20% annually over five years and expire after ten years. Under the 2009 LTIP, in the case of termination due to death, disability or retirement, all options will become immediately exercisable. Shares issued upon option exercise may consist of treasury shares, authorized but unissued common shares or common shares purchased by or on behalf of the Company in the open market. Following is a summary of stock option activity for the year ended December 31, 2015 , relating to the stock options awarded under the 2009 LTIP and the 1993 Plan: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (a) (In thousands) Options outstanding at December 31, 2014 2,016,368 $ 24.47 5.71 $ 7,470 Granted 386,500 21.28 Exercised (72,640 ) 14.24 Forfeited (221,600 ) 43.78 Options outstanding at December 31, 2015 2,108,628 $ 22.21 5.83 $ 6,300 Options vested or expected to vest at December 31, 2015 2,084,208 $ 22.07 5.72 $ 6,544 Options exercisable at December 31, 2015 1,453,728 $ 22.19 4.65 $ 5,884 (a) Intrinsic value is defined as the amount by which the fair value of the underlying common shares exceeds the exercise price of the option. The aggregate intrinsic value of options exercised during the years ended December 31, 2015, 2014 and 2013 was $0.7 million , $1.6 million and $2.2 million , respectively. The fair value of our five-year service-based stock options granted during the years ended December 31, 2015, 2014 and 2013 was established at the date of grant using the Black-Scholes pricing model, with the weighted average assumptions as follows: Year Ended December 31, 2015 2014 2013 Risk-free interest rate 1.72 % 1.75 % 0.88 % Expected volatility 56.37 % 57.99 % 56.70 % Expected term (in years) 5.6 5.6 5.5 Weighted average grant date fair value of options granted during the period $ 11.07 $ 12.64 $ 11.97 The risk-free interest rate is based upon the U.S. Treasury constant maturity rate at the date of the grant. Expected volatility is based on an average of (1) historical volatility of the Company’s stock and (2) implied volatility from traded options on the Company’s stock. The risk-free rate for periods within the contractual life of the stock option award is based on the yield curve of a zero-coupon U.S. Treasury bond on the date the stock option award is granted, with a maturity equal to the expected term of the stock option award granted. The Company uses historical data to estimate stock option exercises and forfeitures within its valuation model. The expected life of stock option awards granted is derived from historical exercise experience under the Company’s share-based payment plans, and represents the period of time that stock option awards granted are expected to be outstanding. Total stock-based compensation expense related to stock option awards that has been charged against income relating to the 2009 LTIP and the 1993 Plan was $3.2 million , $2.7 million , and $2.0 million for the years ended December 31, 2015, 2014 and 2013 , respectively. As of December 31, 2015 , there was a total of $7.9 million of unrecognized compensation expense related to unvested stock option awards that will be recognized as stock-based compensation expense as the awards vest over a weighted average period of 2.1 years for the service awards. Director Stock Units Under the 2009 LTIP, the Company awarded its non-employee directors 15,000 , 17,500 at and 10,500 stock units during the year ended December 31, 2015 , 2014 and 2013 , respectively. Each stock unit is the equivalent of one common share, vests immediately and will be converted to a common share upon termination of service as a director. The Company recognized the full stock-based compensation expense related to the awards of $0.3 million in 2015 , $0.4 million in 2014 and $0.3 million in 2013 due to the immediate vesting provisions of the award. On May 5, 2009, the Company’s board of directors terminated the M/I Homes, Inc. 2006 Director Equity Incentive Plan (the “Director Equity Plan”). Awards outstanding under the Director Equity Plan remain in effect in accordance with their respective terms. At December 31, 2015 , there were 8,059 stock units outstanding under the Director Equity Plan with a value of $0.2 million . Performance Share Unit Awards On February 17, 2015 and February 18, 2014 , the Company awarded its executive officers (in the aggregate) a target number of performance share units (“PSU’s”) equal to 56,389 and 50,439 PSU’s, respectively. Each PSU represents a contingent right to receive one common share of the Company if vesting is satisfied at the end of a three-year performance period (the “Performance Period”). The ultimate number of PSU’s that will vest and be earned, if any, after the completion of the Performance Period, is based on (1) (a) the Company’s cumulative pre-tax income from operations, excluding extraordinary items, over the Performance Period (weighted 80% ) (the “Performance Condition”), and (b) the Company’s relative total shareholder return over the Performance Period compared to the total shareholder return of a peer group of other publicly-traded homebuilders (weighted 20% ) (the “Market Condition”) and (2) the participant’s continued employment through the end of the Performance Period, except in the case of termination due to death, disability or retirement or involuntary termination without cause by the Company. The number of PSU’s that vest may increase by up to 50% from the target number based on levels of achievement of the above criteria as set forth in the applicable award agreements and decrease to zero if the Company fails to meet the minimum performance levels for both of the above criteria. If the Company achieves the minimum performance levels for both of the above criteria, 50% of the target number of PSU’s will vest and be earned. Any portion of PSU’s that does not vest at the end of the Performance Period will be forfeited. Additionally, the PSU’s have no dividend or voting rights during the Performance Period. The grant date fair value of the portion of the 2015 PSU’s subject to the Performance Condition and the Market Condition component was $21.28 and $18.92 , respectively, and $23.79 and $21.00 for the 2014 PSU’s, respectively. In accordance with ASC 718, for the portion of the PSU’s subject to a Market Condition, stock-based compensation expense is derived using the Monte Carlo simulation methodology and is recognized ratably over the service period regardless of whether or not the attainment of the Market Condition is probable. Therefore, the Company recognized $0.1 million in stock-based compensation expense, and there was a total of $0.2 million of unrecognized stock-based compensation expense related to the Market Condition portion of the 2015 and 2014 PSU awards as of December 31, 2015 . For the portion of the PSU’s subject to a Performance Condition, we recognize stock-based compensation expense on a straight-line basis over the Performance Period based on the probable outcome of the related Performance Condition. Otherwise, stock-based compensation expense recognition is deferred until probability is attained and a cumulative stock-based compensation expense adjustment is recorded and recognized ratably over the remaining service period. The Company reassesses the probability of the satisfaction of the Performance Condition on a quarterly basis, and stock-based compensation expense is adjusted based on the portion of the requisite service period that has passed. As of December 31, 2015 , the Company had not recognized any stock-based compensation expense related to the Performance Condition portion of the 2015 PSU awards. If the Company achieves the minimum performance levels for the Performance Conditions to be met for the 2015 awards, the Company would record unrecognized stock-based compensation expense of $0.5 million as of December 31, 2015 , for which $0.2 million would be immediately recognized had attainment been probable at December 31, 2015 . The Company recognized $0.3 million of stock-based compensation expense related to the Performance Condition portion of the 2014 PSU awards during 2015 based on the probability of attaining the performance condition. The Company has $0.2 million of unrecognized stock-based compensation expense for the 2014 PSU awards at December 31, 2015 . Deferred Compensation Plans The purpose of the Company’s Amended and Restated Executives’ Deferred Compensation Plan (the “Executive Plan”), a non-qualified deferred compensation plan, is to provide an opportunity for certain eligible employees of the Company to defer a portion of their compensation and to invest in the Company’s common shares. The purpose of the Company’s Amended and Restated Director Deferred Compensation Plan (the “Director Plan”) is to provide its directors with an opportunity to defer their director compensation and to invest in the Company’s common shares. Compensation expense deferred into the Executive Plan and the Director Plan (together the “Plans”) totaled $0.3 million for the year ended December 31, 2015 , and $0.4 million for each of the years ended December 31, 2014 and December 31, 2013 . The portion of cash compensation deferred by employees and directors under the Plans is invested in fully-vested equity units in the Plans. One equity unit is the equivalent of one common share. Equity units and the related dividends will be converted and distributed to the employee or director in the form of common shares at the earlier of his or her elected distribution date or termination of service as an employee or director of the Company. Distributions from the Plans totaled less than $0.1 million , $0.2 million and $0.3 million , respectively, during the years ended December 31, 2015, 2014 and 2013 . As of December 31, 2015 , there were a total of 47,982 equity units with a value of $1.2 million outstanding under the Plans. The aggregate fair market value of these units at December 31, 2015 , based on the closing price of the underlying common shares, was approximately $1.5 million , and the associated deferred tax benefit the Company would recognize if the outstanding units were distributed was $1.1 million as of December 31, 2015 . Common shares are issued from treasury shares upon distribution of equity units from the Plans. Profit Sharing The Company has a deferred profit-sharing plan that covers substantially all Company employees and permits participants to make contributions to the plan on a pre-tax basis in accordance with the provisions of Section 401(k) of the Internal Revenue Code of 1986, as amended. Company contributions to the plan are made at the discretion of the Company’s board of directors and resulted in a $1.2 million , $1.0 million and $0.8 million expense for the years ended December 31, 2015, 2014 and 2013 , respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 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 To meet financing needs of our home-buying customers, M/I Financial is party to interest rate lock commitments (“IRLCs”), which are extended to customers who have applied for a mortgage loan and meet certain defined credit and underwriting criteria. These IRLCs are considered derivative financial instruments. M/I Financial manages interest rate risk related to its IRLCs and mortgage loans held for sale through the use of forward sales of mortgage-backed securities (“FMBSs”), the use of best-efforts whole loan delivery commitments, and the occasional purchase of options on FMBSs in accordance with Company policy. These FMBSs, options on FMBSs, and IRLCs covered by FMBSs are considered non-designated derivatives. These amounts are either recorded in Other Assets or Other Liabilities on the Consolidated Balance Sheets (depending on the respective balance for that year ended December 31). The Company measures both mortgage loans held for sale and 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 or trading 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 Consolidated 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 sells loans on a servicing released or servicing retained basis, and receives servicing compensation. 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 consist primarily of single-family residential loans collateralized by the underlying property. 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 December 31, 2015 and 2014 : December 31, Description of Financial Instrument (in thousands) 2015 2014 Best efforts contracts and related committed IRLCs $ 2,625 $ 3,072 Uncommitted IRLCs 46,339 28,028 FMBSs related to uncommitted IRLCs 46,000 41,000 Best efforts contracts and related mortgage loans held for sale 100,152 61,233 FMBSs related to mortgage loans held for sale 27,000 27,000 Mortgage loans held for sale covered by FMBSs 26,690 26,825 The table below shows the level and measurement of assets and liabilities measured on a recurring basis at December 31, 2015 and 2014 : Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 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 $ 127,001 $ — $ 127,001 $ — Forward sales of mortgage-backed securities (93 ) — (93 ) — Interest rate lock commitments 321 — 321 — Best-efforts contracts (206 ) — (206 ) — Total $ 127,023 $ — $ 127,023 $ — 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 (loss) gain recognized, within our revenue in the Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the years ended December 31, 2015, 2014 and 2013 : Year Ended December 31, Description (in thousands) 2015 2014 2013 Mortgage loans held for sale $ (590 ) $ 3,191 $ (2,094 ) Forward sales of mortgage-backed securities 89 (927 ) 492 Interest rate lock commitments 32 607 (320 ) Best-efforts contracts (258 ) (426 ) 482 Total (loss) gain recognized $ (727 ) $ 2,445 $ (1,440 ) The following tables set forth the fair value of the Company’s derivative instruments and their location within the 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 December 31, 2015 December 31, 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 $ 93 Interest rate lock commitments Other assets 321 Other liabilities — Best-efforts contracts Other assets — Other liabilities 206 Total fair value measurements $ 321 $ 299 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 The Company assesses inventory for recoverability on a quarterly basis if events or changes in local or national economic conditions indicate that the carrying amount of an asset may not be recoverable. Our determination of fair value is based on projections and estimates, which are Level 3 measurement inputs. For further explanation of the Company’s policy regarding our assessment of recoverability for assets measured on a non-recurring basis, please see Note 1 to our Consolidated Financial Statements. The tables below show the level and measurement of assets measured on a non-recurring basis for the years ended December 31, 2015 and 2014 : Year Ended December 31, Description (in thousands) Hierarchy 2015 2014 (2) 2013 (2) Adjusted basis of inventory (1) Level 3 $ 11,885 $ 3,730 $ 5,494 Total losses 3,638 3,457 5,805 Initial basis of inventory (3) $ 15,523 $ 7,187 $ 11,299 (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. (3) This amount is inclusive of our investments in unconsolidated joint ventures. There were no losses on our investments in unconsolidated joint ventures for 2015 and 2013 . The total loss for these unconsolidated joint ventures was $1.0 million for 2014 . Financial Instruments Counterparty Credit Risk. To reduce the risk associated with accounting 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 December 31, 2015 and 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). December 31, 2015 December 31, 2014 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 13,101 $ 13,101 $ 22,486 $ 22,486 Mortgage loans held for sale 127,001 127,001 92,794 92,794 Split dollar life insurance policies 199 199 187 187 Notes receivable 3,153 3,076 4,288 3,793 Commitments to extend real estate loans 321 321 289 289 Best-efforts contracts for committed IRLCs and mortgage loans held for sale — — 58 58 Liabilities: Notes payable - homebuilding operations 43,800 43,800 30,000 30,000 Notes payable - financial services operations 123,648 123,648 85,379 85,379 Notes payable - other 8,441 8,039 9,518 9,089 Convertible senior subordinated notes due 2017 57,500 61,884 57,500 67,634 Convertible senior subordinated notes due 2018 86,250 84,741 86,250 87,544 Senior notes 300,000 295,500 228,469 239,488 Best-efforts contracts for committed IRLCs and mortgage loans held for sale 206 206 — — Forward sales of mortgage-backed securities 93 93 182 182 Off-Balance Sheet Financial Instruments: Letters of credit — 735 — 881 The following methods and assumptions were used by the Company in estimating its fair value disclosures of financial instruments at December 31, 2015 and 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, Convertible Senior Subordinated Notes due 2017, Convertible Senior Subordinated Notes due 2018 and Senior Notes. The fair value of these financial instruments was determined based upon market quotes at December 31, 2015 and 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 year ended December 31, 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 (the “Credit Facility”), and thus the carrying value is a reasonable estimate of fair value. Refer to Note 11 for additional information regarding the Credit Facility. Notes Payable - Financial Services Operations. M/I Financial is a party to two credit agreements: (1) a $110 million secured mortgage warehousing agreement, dated March 29, 2013, as amended (the “MIF Mortgage Warehousing Agreement”), and (2) a $15 million mortgage repurchase agreement, as amended and restated on November 3, 2015 and further amended by a First Amendment on December 2, 2015 (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 the Company during 2015 fluctuated with LIBOR. Refer to Note 11 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 $42.5 million and $33.6 million represent potential commitments at December 31, 2015 and 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.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2015
Inventory [Abstract]
Inventory Disclosure [Text Block]	Inventory A summary of the Company’s inventory as of December 31, 2015 and 2014 is as follows: December 31, (In thousands) 2015 2014 Single-family lots, land and land development costs $ 584,542 $ 463,198 Land held for sale 12,630 10,647 Homes under construction 420,206 371,119 Model homes and furnishings - at cost (less accumulated depreciation: December 31, 2015 - $8,296; December 31, 2014 - $7,010) 63,929 46,780 Community development district infrastructure 1,018 2,571 Land purchase deposits 23,710 23,495 Consolidated inventory not owned 6,007 779 Total inventory $ 1,112,042 $ 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 December 31, 2015 and 2014 , we had 872 homes (with a carrying value of $184.3 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. The Company assesses inventory for recoverability on a quarterly basis. Refer to Notes 1 and 3 of our Consolidated Financial Statements for additional details relating to our procedures for evaluating our inventories for impairment. 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 writes off any deposits and accumulated pre-acquisition costs relating to such agreement.

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
	Dec. 31, 2015
Transactions with Related Parties [Abstract]
Related Party Transactions Disclosure [Text Block]	Transactions with Related Parties The Company made a contribution of $0.6 million in 2015 to the M/I Homes Foundation, a charitable organization having certain officers and directors of the Company on its Board of Trustees. The Company had a receivable of $0.2 million at both December 31, 2015 and 2014 due from an executive officer, relating to amounts owed to the Company for split-dollar life insurance policy premiums. The Company will collect the receivable either directly from the executive officer, if employment terminates other than by death, or from the executive officer’s beneficiary, if employment terminates due to death of the executive officer. We also have an outstanding loan to one of our unconsolidated joint ventures for $2.5 million in which we are one of the partners in the joint venture. The receivables are recorded in Other Assets on the Consolidated Balance Sheets.

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2015
Investment in Unconsolidated LLCs [Abstract]
Equity Method Investments Disclosure [Text Block]	Investment in Unconsolidated Joint Ventures The Company has periodically partnered with other land developers or homebuilders to share in the cost of land investment and development of a property through joint ownership and development agreements, joint ventures, and other similar arrangements. For such joint venture arrangements where a special purpose entity is established to own the property, we have determined that we do not have substantive control over any of these entities; therefore, they are recorded using the equity method of accounting. The Company’s maximum exposure related to its investment in these joint venture arrangements as of December 31, 2015 is the total amount invested of $39.5 million , consisting of $37.0 million which is reported as Investment in Unconsolidated Joint Ventures on our Consolidated Balance Sheets, and a $2.5 million note due to the Company from one of the unconsolidated joint ventures (reported in Other Assets). Included in the Company’s investment in unconsolidated joint ventures at December 31, 2015 and December 31, 2014 were $0.4 million and $0.2 million of capitalized interest and other costs, respectively. The Company evaluates its investment in unconsolidated joint ventures for potential impairment on a quarterly basis. If the fair value of the investment (see Notes 1 and 3 of our Consolidated Financial Statements) is less than the investment’s carrying value, and the Company determines the decline in value was other than temporary, the Company writes down the investment to fair value. Summarized condensed combined financial information for the unconsolidated joint ventures that are included in the homebuilding segments as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013 is as follows: Summarized Condensed Combined Balance Sheets: December 31, (In thousands) 2015 2014 Assets: Single-family lots, land and land development costs (a) (b) $ 53,754 $ 49,987 Other assets 5,499 2,917 Total assets $ 59,253 $ 52,904 Liabilities and partners’ equity: Liabilities: Notes payable $ 7,025 $ 12,153 Other liabilities 2,190 2,887 Total liabilities 9,215 15,040 Partners’ equity: Company’s equity (a) (b) $ 24,367 $ 18,728 Other equity 25,671 19,136 Total partners’ equity $ 50,038 $ 37,864 Total liabilities and partners’ equity $ 59,253 $ 52,904 (a) For the years ended December 31, 2015 and 2014 , impairment expenses and other miscellaneous adjustments totaling $4.8 million and $6.0 million , respectively, were excluded from the table above. (b) For the years ended December 31, 2015 and 2014 , the table above excludes the Company’s investment in joint development arrangements for which a special purpose entity was not established, totaling $17.4 million and $15.0 million , respectively. Summarized Condensed Combined Statements of Operations: Year Ended December 31, (In thousands) 2015 2014 2013 Revenue $ 5,800 $ 2,424 $ 2,909 Costs and expenses 3,527 1,147 1,763 Income $ 2,273 $ 1,277 $ 1,146 The Company’s total equity in the income relating to the above homebuilding unconsolidated joint ventures was $0.5 million for 2015 , and $0.3 million for 2014 and 2013 .

Guarantees and Indemnifications

Guarantees and Indemnifications	12 Months Ended
	Dec. 31, 2015
Guarantees [Abstract]
Guarantees [Text Block]	Guarantees and Indemnifications Warranty Our warranty reserve amounts are based upon historical experience and geographic location. Our warranty reserves are included in Other Liabilities in the Company’s Consolidated Balance Sheets. A summary of warranty activity for the years ended December 31, 2015, 2014 and 2013 is as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Warranty reserves, beginning of period $ 12,671 $ 12,291 $ 10,438 Warranty expense on homes delivered during the period 8,812 7,311 7,023 Changes in estimates for pre-existing warranties 5,160 5,223 2,394 Settlements made during the period (12,361 ) (12,154 ) (7,564 ) Warranty reserves, end of period $ 14,282 $ 12,671 $ 12,291 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 $12.2 million and $33.4 million were covered under the above guarantees as of December 31, 2015 and 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 the above loans was deferred at December 31, 2015 , and will be recognized in income as M/I Financial is released from its obligation under the guarantees. M/I Financial did not repurchase any loans under the above agreements during 2015 . The risk associated with the guarantees above is offset by the value of the underlying assets. M/I Financial received inquiries concerning underwriting matters from purchasers of its loans regarding certain loans totaling approximately $1.3 million and $9.1 million at December 31, 2015 and 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 two of its investors during the first and fourth quarter of 2015 which substantially eliminated any liability to repurchase or indemnify loans associated with the related loan purchase agreements. 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 December 31, 2015 and 2014 , the total of all loans indemnified to third party insurers relating to the above agreements was $2.2 million and $2.0 million , respectively. 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 recorded a liability relating to the guarantees described above totaling $1.2 million and $2.9 million at December 31, 2015 and 2014 , respectively, which is management’s best estimate of the Company’s liability.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies At December 31, 2015 , the Company had outstanding approximately $144.1 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) $94.3 million of performance and maintenance bonds and $30.1 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) $7.3 million of financial bonds. At December 31, 2015 , the Company also had options and contingent purchase agreements to acquire land and developed lots with an aggregate purchase price of approximately $513.2 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 other 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 other matters. However, there exists the possibility that the costs to resolve these other 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 December 31, 2015 and 2014 , we had $0.6 million and $0.2 million reserved for legal expenses, respectively.

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2015
Lease Commitments [Abstract]
Leases of Lessee Disclosure [Text Block]	Lease Commitments Operating Leases. The Company leases various office facilities, automobiles, model furnishings, and model homes under operating leases with remaining terms of one to nine years. The Company sells model homes to investors with the express purpose of leasing the homes back as sales models for a specified period of time. The Company records the sale of the home at the time of the home delivery, and defers profit on the sale, which is subsequently recognized over the lease term. At December 31, 2015 , the future minimum rental commitments totaled $13.0 million under non-cancelable operating leases with initial terms in excess of one year as follows: 2016 - $4.1 million ; 2017 - $3.3 million ; 2018 - $2.2 million ; 2019 - $1.3 million ; 2020 - $0.8 million ; and $1.3 million thereafter. The Company’s total rental expense was $5.3 million , $4.7 million , and $3.7 million for 2015, 2014 and 2013 , respectively.

Community Development District

Community Development District Infrastructure and Related Obligations	12 Months Ended
	Dec. 31, 2015
Community Development District Infrastructure and Realted Obligations [Abstract]
Community Development District Bonds [Text Block]	Community Development District Infrastructure and Related Obligations A Community Development District and/or Community Development Authority (“CDD”) is a unit of local government created under various state and/or local statutes to encourage planned community development and to allow for the construction and maintenance of long-term infrastructure through alternative financing sources, including the tax-exempt markets. A CDD is generally created through the approval of the local city or county in which the CDD is located and is controlled by a Board of Supervisors representing the landowners within the CDD. CDDs may utilize bond financing to fund construction or acquisition of certain on-site and off-site infrastructure improvements near or within these communities. CDDs are also granted the power to levy special assessments to impose ad valorem taxes, rates, fees and other charges for the use of the CDD project. An allocated share of the principal and interest on the bonds issued by the CDD is assigned to and constitutes a lien on each parcel within the community evidenced by an assessment (the “Assessment”). The owner of each such parcel is responsible for the payment of the Assessment on that parcel. If the owner of the parcel fails to pay the Assessment, the CDD may foreclose on the lien pursuant to powers conferred to the CDD under applicable state laws and/or foreclosure procedures. In connection with the development of certain of the Company’s communities, CDDs have been established and bonds have been issued to finance a portion of the related infrastructure. Following are details relating to such CDD bond obligations issued and outstanding as of December 31, 2015 : Issue Date Maturity Date Interest Rate Principal Amount as of December 31, 2015 (in thousands) Principal Amount as of December 31, 2014 (in thousands) 7/15/2004 12/1/2022 6.00% $ 2,922 $ 2,922 7/15/2004 12/1/2036 6.25% 10,060 10,060 7/22/2014 11/1/2045 5.28% 535 1,805 Total CDD bond obligations issued and outstanding $ 13,517 $ 14,787 The Company records a liability for the estimated developer obligations that are probable and estimable and user fees that are required to be paid or transferred at the time the parcel or unit is sold to an end user. The Company reduces this liability by the corresponding Assessment assumed by property purchasers and the amounts paid by the Company at the time of closing and the transfer of the property. The Company recorded a $1.0 million and $2.6 million liability related to these CDD bond obligations as of December 31, 2015 and December 31, 2014 , respectively, along with the related inventory infrastructure.

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Notes Payable - Homebuilding The Credit Facility provides 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 a margin of 175 basis points, or at the Eurodollar Rate plus a margin of 275 basis points, in each case subject to adjustment based on the Company's leverage ratio. The Credit Facility also contains certain financial covenants. At December 31, 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 December 31, 2015 , borrowing availability under the Credit Facility in accordance with the borrowing base calculation was $437.2 million , and, as a result, the full amount of the $400 million facility was available. At December 31, 2015 , there were $43.8 million of borrowings outstanding and $39.8 million of letters of credit outstanding, leaving net remaining borrowing availability of $316.4 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 16 ), 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 Company’s $300.0 million aggregate principal amount of 6.75% Senior Notes due 2021 (the “2021 Senior Notes”). The guarantors for the Credit Facility are the same subsidiaries that guarantee the 2021 Senior Notes, the Company’s $57.5 million aggregate principal amount of 3.25% Convertible Senior Subordinated Notes due 2017 (the “2017 Convertible Senior Subordinated Notes”) and the $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 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 Credit Facility contains various representations, warranties and covenants which require, among other things, that the Company maintain (1) a minimum level of Consolidated Tangible Net Worth of $383.2 million (subject to increase over time based on earnings and proceeds from equity offerings), (2) a leverage ratio not in excess of 60% , and (3) either a minimum Interest Coverage Ratio of 1.5 to 1.0 or a minimum amount of available liquidity. In addition, the Credit Facility contains covenants that limit the Company's number of unsold housing units and model homes, as well as the amount of Investments in Unrestricted Subsidiaries and Joint Ventures. 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 . 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 $4.9 million was uncommitted at December 31, 2015 and could be withdrawn at any time. At December 31, 2015 and December 31, 2014 , there was $2.7 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 $2.7 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 MIF Mortgage Warehousing Agreement matures on June 24, 2016 . In December 2015 , M/I Financial entered into an amendment to temporarily increase the maximum borrowing availability to $130 million , which expired on February 1, 2016 . The maximum principal amount permitted to be outstanding at any one time in aggregate under all warehouse credit lines is $150 million . The MIF Mortgage Warehousing Agreement also contains certain financial covenants. At December 31, 2015 , the Company was in compliance with all financial covenants of the MIF Mortgage Warehousing Agreement. 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 1, 2016 . 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 250 or 275 basis points depending on the loan type. The agreement was amended additionally by a First Amendment in December 2015 to temporarily increase the maximum borrowing availability to $20 million , which expired on February 1, 2016 . At December 31, 2015 , M/I Financial’s total combined maximum borrowing availability under the two credit facilities was $150.0 million , an increase from $125.0 million at December 31, 2014 . At December 31, 2015 and December 31, 2014 , M/I Financial had $123.6 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. 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 jointly and severally on a senior subordinated unsecured basis by those subsidiaries of the Company that are guarantors under the Company’s 2021 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 jointly and severally on a senior subordinated unsecured basis by those subsidiaries of the Company that are guarantors under the Company’s 2021 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). Senior Notes In December 2015, we issued $300.0 million of 2021 Senior Notes. The 2021 Senior Notes bear interest at a rate of 6.75% per year, payable semiannually in arrears on January 15 and July 15 of each year (commencing on July 15, 2016), and mature on January 15, 2021. The 2021 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 2021 Senior Notes are effectively subordinated to our existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. We used $237.5 million of the net proceeds from the issuance of the 2021 Senior Notes to redeem all of the outstanding 2018 Senior Notes, consisting of principal of $230.0 million , prepayment premium of $5.0 million , which was recorded as a loss on debt extinguishment, and accrued interest of $2.5 million . Additionally, in connection with the redemption of the 2018 Senior Notes, $1.1 million of unamortized original issue discount and a $1.8 million write-off of unamortized debt issuance costs were recorded as a loss on debt extinguishment. The 2021 Senior Notes contain certain covenants, as more fully described and defined in the indenture governing the 2021 Senior Notes, 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 2021 Senior Notes. As of December 31, 2015 , the Company was in compliance with all terms, conditions, and covenants under the indenture. The 2021 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, subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture governing the 2021 Senior Notes. As of December 31, 2015 , the guarantors of the 2021 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 2021 Senior Notes on or after January 15, 2018 at a stated redemption price, together with accrued and unpaid interest thereon. The redemption price will initially be 103.375% of the principal amount outstanding, but will decline to 101.688% of the principal amount outstanding if redeemed during the 12-month period beginning on January 15, 2019, and will further decline to 100.000% of the principal amount outstanding if redeemed on or after January 15, 2020, but prior to maturity. The indenture governing our 2021 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 $125.0 million plus (1) 50% of our aggregate consolidated net income (or minus 100% of our aggregate consolidated net loss) from October 1, 2015, excluding 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 $128.5 million at December 31, 2015 . 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. Notes Payable - Other The Company had other borrowings, which are reported in Notes Payable - Other in our Consolidated Balance Sheets, totaling $8.4 million and $9.5 million as of December 31, 2015 and 2014 , respectively. The balance consists primarily of a mortgage note payable with a $3.9 million principal balance outstanding at December 31, 2015 (and $4.3 million 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 acquired through normal course of business. These other borrowings are included in the debt maturities schedule below. Maturities over the next five years with respect to the Company’s debt as of December 31, 2015 are as follows: Year Ending December 31, Debt Maturities (In thousands) 2016 $ 124,746 2017 63,396 2018 130,541 2019 417 2020 302 Thereafter 300,237 Total $ 619,639

Preferred Shares

Preferred Shares	12 Months Ended
	Dec. 31, 2015
Preferred Shares [Abstract]
Preferred Stock [Text Block]	Preferred Shares The Company’s Articles of Incorporation authorize the issuance of up to 2,000,000 preferred shares, par value $.01 per share. On March 15, 2007, the Company issued 4,000,000 depositary shares, each representing 1/1000 th of a Series A Preferred Share, or 4,000 Series A Preferred Shares in the aggregate. On April 10, 2013, the Company redeemed 2,000 of its Series A Preferred Shares for $50.4 million in cash. The aggregate liquidation value of the remaining 2,000 Preferred Shares is $50 million . The Company paid $4.9 million of dividends in both 2015 and 2014 , and $3.7 million in 2013 on the Series A Preferred Shares. Please see Note 11 for additional information related to the restrictions on our ability to pay dividends on and repurchase our Series A Preferred Shares.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2015
Loss 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 years ended December 31, 2015, 2014 and 2013 : Year Ended December 31, (In thousands, except per share amounts) 2015 2014 2013 NUMERATOR Net income $ 51,763 $ 50,789 $ 151,423 Preferred stock dividends (4,875 ) (4,875 ) (3,656 ) Excess of fair value over book value of preferred shares redeemed — — (2,190 ) Net income available to common shareholders 46,888 45,914 145,577 Interest on 3.25% convertible senior subordinated notes due 2017 1,499 1,504 2,443 Interest on 3.00% convertible senior subordinated notes due 2018 2,021 2,030 2,675 Diluted income available to common shareholders $ 50,408 $ 49,448 $ 150,695 DENOMINATOR Basic weighted average shares outstanding 24,575 24,463 23,822 Effect of dilutive securities: Stock option awards 237 222 237 Deferred compensation awards 150 142 123 3.25% convertible senior subordinated notes due 2017 2,416 2,416 2,416 3.00% convertible senior subordinated notes due 2018 2,669 2,669 2,165 Diluted weighted average shares outstanding - adjusted for assumed conversions 30,047 29,912 28,763 Earnings per common share Basic $ 1.91 $ 1.88 $ 6.11 Diluted $ 1.68 $ 1.65 $ 5.24 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share 1,447 1,250 963 The Company declared and paid a quarterly cash dividend of $609.375 per share on its 2,000 outstanding Series A Preferred Shares in each quarter of 2015 and 2014 , and during the second, third and fourth quarters of 2013, for an aggregate dividend payment of $4.9 million for the years ended December 31, 2015 and 2014 , and $3.7 million for the year ended December 31, 2013 . For the years ended December 31, 2015, 2014 and 2013 , the effect of convertible debt was included in the diluted earnings per share calculations.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The Company records income taxes under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and attributable to operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which the temporary differences are expected to be recovered or paid. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the changes are enacted. In accordance with ASC 740-10, Income Taxes (“ASC 740”) , we evaluate our deferred tax assets, including the benefit from net operating losses (“NOLs”) and tax credit carryforwards, to determine if a valuation allowance is required. Companies must assess, using significant judgments, whether a valuation allowance should be established based on the consideration of all available evidence using a “more likely than not” standard with significant weight being given to evidence that can be objectively verified. This assessment gives appropriate consideration to all positive and negative evidence related to the realization of the deferred tax assets and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, our experience with operating losses and our experience of utilizing tax credit carryforwards and tax planning alternatives. Based upon a review of all available evidence, we recorded a full valuation allowance against our deferred tax assets during 2008 due to economic conditions and the weight of negative evidence at the time. However, during 2013, the Company, giving the same consideration to positive and negative evidence described above, concluded that it was more likely than not that the majority of its deferred tax assets would be utilized. As a result of such determination, the Company reversed the majority of the valuation allowance against its deferred tax assets during the year ended December 31, 2013, and the remaining $9.3 million valuation allowance during the first two quarters of 2014. At December 31, 2015 , the Company’s total deferred tax assets were $67.4 million which is offset by $5.5 million of total deferred tax liabilities for a $61.9 million net deferred tax asset which is reported on the Company’s Consolidated Balance Sheets. The tax effects of the significant temporary differences that comprise the deferred tax assets and liabilities are as follows: December 31, (In thousands) 2015 2014 Deferred tax assets: Warranty, insurance and other accruals $ 14,460 $ 13,155 Inventory 9,528 11,049 State taxes 211 175 Net operating loss carryforward 42,556 69,946 Deferred charges 649 1,711 Total deferred tax assets $ 67,404 $ 96,036 Deferred tax liabilities: Federal effect of state deferred taxes $ 5,519 $ — Depreciation — 1,191 Prepaid expenses — 433 Total deferred tax liabilities $ 5,519 $ 1,624 Net deferred tax asset, net of valuation allowance $ 61,885 $ 94,412 The provision (benefit) from income taxes consists of the following: Year Ended December 31, (In thousands) 2015 2014 2013 Current: Federal $ 1,757 $ 1,766 $ 2 State 883 681 821 $ 2,640 $ 2,447 $ 823 Year Ended December 31, (In thousands) 2015 2014 2013 Deferred: Federal $ 28,760 $ 22,141 $ (102,830 ) State 3,766 (5,641 ) (8,081 ) $ 32,526 $ 16,500 $ (110,911 ) Total $ 35,166 $ 18,947 $ (110,088 ) For 2015, 2014 and 2013 , the Company’s effective tax rate was 40.45% , 27.17% , and (266.33)% , respectively. Reconciliation of the differences between income taxes computed at the federal statutory tax rate and consolidated benefit from income taxes are as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Federal taxes at statutory rate $ 30,425 $ 24,407 $ 14,467 State and local taxes – net of federal tax benefit 2,820 2,199 534 Change in valuation allowance — (9,291 ) (126,458 ) Change in state NOL deferred asset – net of federal tax benefit 1,548 1,780 853 Other 373 (148 ) 516 Total $ 35,166 $ 18,947 $ (110,088 ) The Company files income tax returns in the U.S. federal jurisdiction, and various states. The Company is no longer subject to U.S. federal, state or local examinations by tax authorities for years before 2010. The Company is audited from time to time, and if any adjustments are made, they would be either immaterial or reserved. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in tax expense. At December 31, 2015 , 2014 and 2013 , we had no unrecognized tax benefits due to the lapse of the statute of limitations and completion of audits in prior years. We believe that our current income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change. At December 31, 2015 , the Company had federal NOL carryforwards of approximately $20.7 million and federal credit carryforwards of $9.4 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 $8.1 million of state NOL carryforwards at December 31, 2015 . Our state NOLs may be carried forward from one to 17 years, depending on the tax jurisdiction, with $3.0 million expiring between 2022 and 2027 and $5.1 million expiring between 2028 and 2032, absent sufficient state taxable income. On December 18, 2015, the President signed H.R. 2029, a legislative package that combines a bill to renew dozens of expired tax deductions, credits and incentives with omnibus appropriations legislation that sets spending levels for government agencies for the remainder of fiscal year 2016. Among other things, H.R. 2029 extends through 2016 the business tax credit under IRC §45L for building new energy efficient homes and extends, but phases down through 2019, bonus depreciation. Under ASC 740, the effects of a change in tax law are recognized as of the enactment date. In accordance with this guidance, we recorded a tax benefit of approximately $0.4 million in 2015 related to the extension of the IRC §45L tax credit for qualifying new energy efficient homes that we sold in 2015.

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 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 14 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 and 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 Minneapolis/St. Paul, Minnesota Austin, Texas Dallas/Fort Worth, Texas The following table shows, by segment, revenue, operating income and interest expense for 2015, 2014 and 2013 , as well as the Company’s income before income taxes for such periods: Year Ended December 31, (In thousands) 2015 2014 2013 Revenue: Midwest homebuilding $ 500,873 $ 426,090 $ 336,242 Southern homebuilding 514,747 420,901 324,436 Mid-Atlantic homebuilding 366,800 338,067 347,565 Financial services (a) 35,975 30,122 28,539 Total revenue $ 1,418,395 $ 1,215,180 $ 1,036,782 Operating income: Midwest homebuilding $ 51,436 $ 37,484 $ 21,469 Southern homebuilding 47,276 34,341 23,653 Mid-Atlantic homebuilding 25,144 27,502 27,297 Financial services (a) 21,032 15,616 15,798 Less: Corporate selling, general and administrative expenses (33,094 ) (32,189 ) (29,524 ) Total operating income (b) $ 111,794 $ 82,754 $ 58,693 Interest expense: Midwest homebuilding $ 4,005 $ 3,001 $ 4,923 Southern homebuilding 7,244 5,445 6,142 Mid-Atlantic homebuilding 4,656 3,480 3,491 Financial services (a) 1,616 1,439 1,382 Total interest expense $ 17,521 $ 13,365 $ 15,938 Equity in income of unconsolidated joint ventures $ (498 ) $ (347 ) $ (306 ) Loss on early extinguishment of debt 7,842 — 1,726 Income before income taxes $ 86,929 $ 69,736 $ 41,335 Depreciation and amortization: Midwest homebuilding $ 1,614 $ 1,277 $ 1,063 Southern homebuilding 2,069 1,584 1,230 Mid-Atlantic homebuilding 1,464 970 995 Financial services 1,213 201 138 Corporate 4,568 4,264 4,885 Total depreciation and amortization $ 10,928 $ 8,296 $ 8,311 (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 years ended December 31, 2015, 2014 and 2013 , total operating income was reduced by $3.6 million , $3.5 million and $5.8 million , respectively, related to impairment charges taken during the period. The following tables show total assets by segment at December 31, 2015 and 2014 : December 31, 2015 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,379 $ 16,128 $ 4,203 $ — $ 23,710 Inventory (a) 368,748 416,443 303,141 — 1,088,332 Investments in unconsolidated joint ventures 5,976 30,991 — — 36,967 Other assets 10,018 23,704 7,253 225,570 266,545 Total assets $ 388,121 $ 487,266 $ 314,597 $ 225,570 $ 1,415,554 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 (b) 7,933 16,829 7,536 226,583 258,881 Total assets $ 317,307 $ 389,524 $ 271,825 $ 226,583 $ 1,205,239 (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. (b) Due to our election to early adopt ASU 2015-03, Corporate, Financial Services, and Unallocated Other assets for the year ended December 31, 2014 has been adjusted by $6.2 million to apply the new method retrospectively.

Supplemental Guarantor Informat

Supplemental Guarantor Information	12 Months Ended
	Dec. 31, 2015
Supplemental Guarantor Information [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	Supplemental Guarantor Information The Company’s obligations under the 2021 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 2021 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) 2021 Senior Notes, on a joint and several senior unsecured basis, (b) 2017 Convertible Senior Subordinated Notes on a joint and several senior subordinated unsecured basis and (c) 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 December 31, 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 governing the 2021 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 Year Ended December 31, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,382,420 $ 35,975 $ — $ 1,418,395 Costs and expenses: Land and housing — 1,114,663 — — 1,114,663 Impairment of inventory and investment in unconsolidated joint ventures — 3,638 — — 3,638 General and administrative — 77,662 15,546 — 93,208 Selling — 95,092 — — 95,092 Equity in income of unconsolidated joint ventures — — (498 ) — (498 ) Interest — 15,905 1,616 — 17,521 Loss on early extinguishment of debt — 7,842 — — 7,842 Total costs and expenses — 1,314,802 16,664 — 1,331,466 Income before income taxes — 67,618 19,311 — 86,929 Provision for income taxes — 28,758 6,408 — 35,166 Equity in subsidiaries 51,763 — — (51,763 ) — Net income $ 51,763 $ 38,860 $ 12,903 $ (51,763 ) $ 51,763 Preferred dividends 4,875 — — — 4,875 Net income to common shareholders $ 46,888 $ 38,860 $ 12,903 $ (51,763 ) $ 46,888 CONDENSED CONSOLIDATING STATEMENTS OF INCOME Year Ended December 31, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,185,058 $ 30,122 $ — $ 1,215,180 Costs and expenses: Land and housing — 958,991 — — 958,991 Impairment of inventory and investment in unconsolidated joint ventures — 3,457 — — 3,457 General and administrative — 73,747 15,083 — 88,830 Selling — 81,148 — — 81,148 Equity in income of unconsolidated joint ventures — — (347 ) — (347 ) Interest — 11,926 1,439 — 13,365 Total costs and expenses — 1,129,269 16,175 — 1,145,444 Income before income taxes — 55,789 13,947 — 69,736 Provision for income taxes — 14,341 4,606 — 18,947 Equity in subsidiaries 50,789 — — (50,789 ) — Net income $ 50,789 $ 41,448 $ 9,341 $ (50,789 ) $ 50,789 Preferred dividends 4,875 — — — 4,875 Net income to common shareholders $ 45,914 $ 41,448 $ 9,341 $ (50,789 ) $ 45,914 Year Ended December 31, 2013 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,008,243 $ 28,539 $ — $ 1,036,782 Costs and expenses: Land and housing — 824,508 — — 824,508 Impairment of inventory and investment in unconsolidated joint ventures — 5,805 — — 5,805 General and administrative — 66,249 13,245 — 79,494 Selling — 68,209 73 — 68,282 Equity in income of unconsolidated joint ventures — — (306 ) — (306 ) Interest — 14,556 1,382 — 15,938 Loss on early extinguishment of debt — 1,726 — — 1,726 Total costs and expenses — 981,053 14,394 — 995,447 Income before income taxes — 27,190 14,145 — 41,335 (Benefit) provision for income taxes — (114,866 ) 4,778 — (110,088 ) Equity in subsidiaries 151,423 — — (151,423 ) — Net income $ 151,423 $ 142,056 $ 9,367 $ (151,423 ) $ 151,423 Preferred dividends 3,656 — — — 3,656 Excess of fair value over book value of preferred shares redeemed 2,190 — — — 2,190 Net income to common shareholders $ 145,577 $ 142,056 $ 9,367 $ (151,423 ) $ 145,577 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash and cash equivalents $ — $ — $ 18,156 $ (7,951 ) $ 10,205 Restricted cash — 2,896 — — 2,896 Mortgage loans held for sale — — 127,001 — 127,001 Inventory — 1,112,042 — — 1,112,042 Property and equipment - net — 12,222 675 — 12,897 Investment in unconsolidated joint ventures — 17,425 19,542 — 36,967 Investment in subsidiaries 621,052 — — (621,052 ) — Deferred income taxes, net of valuation allowances — 67,255 149 — 67,404 Intercompany assets 408,847 — — (408,847 ) — Other assets 2,626 32,335 11,181 — 46,142 TOTAL ASSETS $ 1,032,525 $ 1,244,175 $ 176,704 $ (1,037,850 ) $ 1,415,554 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 94,554 $ 275 $ (7,951 ) $ 86,878 Customer deposits — 19,567 — — 19,567 Intercompany liabilities — 387,439 21,408 (408,847 ) — Other liabilities — 88,550 5,120 — 93,670 Community development district obligations — 1,018 — — 1,018 Obligation for consolidated inventory not owned — 6,007 — — 6,007 Notes payable bank - homebuilding operations — 43,800 — — 43,800 Notes payable bank - financial services operations — — 123,648 — 123,648 Notes payable - other — 8,441 — — 8,441 Convertible senior subordinated notes due 2017 56,518 — — — 56,518 Convertible senior subordinated notes due 2018 84,714 — — — 84,714 Senior notes 294,727 — — — 294,727 TOTAL LIABILITIES 435,959 649,376 150,451 (416,798 ) 818,988 Shareholders’ equity 596,566 594,799 26,253 (621,052 ) 596,566 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,032,525 $ 1,244,175 $ 176,704 $ (1,037,850 ) $ 1,415,554 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 Investment in subsidiaries 576,468 — — (576,468 ) — Deferred income taxes, net of valuation allowances — 94,088 324 — 94,412 Intercompany assets 330,786 — — (330,786 ) — Other assets (1) 3,089 24,378 10,232 — 37,699 TOTAL ASSETS $ 910,343 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,205,239 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 (1) 55,943 — — — 55,943 Convertible senior subordinated notes due 2018 (1) 84,006 — — — 84,006 Senior notes (1) 226,099 — — — 226,099 TOTAL LIABILITIES 366,048 518,159 107,523 (330,786 ) 660,944 Shareholders’ equity 544,295 555,941 20,527 (576,468 ) 544,295 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 910,343 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,205,239 (1) During 2015, we elected to early-adopt Accounting Standards Update 2015-03, Interest-Imputation of Interest . Certain amounts above have been adjusted to apply the new method retrospectively. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 7,178 $ (58,566 ) $ (23,593 ) $ (7,178 ) $ (82,159 ) CASH FLOWS FROM INVESTING ACTIVITIES: Restricted cash — 3,849 — — 3,849 Purchase of property and equipment — (3,156 ) (503 ) — (3,659 ) Acquisition, net of cash acquired — (23,950 ) — — (23,950 ) Net proceeds from the sale of mortgage servicing rights — — 3,065 — 3,065 Intercompany investing (3,338 ) 3,338 — Investments in and advances to unconsolidated joint ventures — (8,087 ) (10,075 ) — (18,162 ) Return of capital from unconsolidated joint ventures — — 1,226 — 1,226 Net cash (used in) provided by investing activities (3,338 ) (31,344 ) (6,287 ) 3,338 (37,631 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of senior notes — (226,874 ) — — (226,874 ) Proceeds from issuance of senior notes — 300,000 — — 300,000 Proceeds from bank borrowings - homebuilding operations — 417,300 — — 417,300 Principal repayments of bank borrowings - homebuilding operations — (403,500 ) — — (403,500 ) Net proceeds from bank borrowings - financial services operations — — 38,269 — 38,269 Principal proceeds from notes payable - other and CDD bond obligations — (1,077 ) — — (1,077 ) Dividends paid (4,875 ) — (7,178 ) 7,178 (4,875 ) Intercompany financing — 5,929 5,360 (11,289 ) — Debt issue costs — (5,740 ) (78 ) — (5,818 ) Proceeds from exercise of stock options 1,035 — — — 1,035 Net cash (used in) provided by financing activities (3,840 ) 86,038 36,373 (4,111 ) 114,460 Net decrease in cash and cash equivalents — (3,872 ) 6,493 (7,951 ) (5,330 ) Cash and cash equivalents balance at beginning of period — 3,872 11,663 — 15,535 Cash and cash equivalents balance at end of period $ — $ — $ 18,156 $ (7,951 ) $ 10,205 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 10,200 $ (143,672 ) $ 10,997 $ (10,200 ) $ (132,675 ) CASH FLOWS FROM INVESTING ACTIVITIES: Restricted cash — 7,122 — — 7,122 Purchase of property and equipment — (2,793 ) (153 ) — (2,946 ) Intercompany investing (7,269 ) — — 7,269 — Investments in and advances to unconsolidated joint ventures — (14,435 ) (5,980 ) — (20,415 ) Return of capital from unconsolidated joint ventures — 275 1,248 — 1,523 Net proceeds from the sale of mortgage servicing rights — — 2,135 — 2,135 Net cash (used in) provided by investing activities (7,269 ) (9,831 ) (2,750 ) 7,269 (12,581 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 192,600 — — 192,600 Principal repayments of bank borrowings - homebuilding operations — (162,600 ) — — (162,600 ) Net proceeds from bank borrowings - financial services operations — — 5,350 — 5,350 Principal repayments of notes payable - other and CDD bond obligations — 1,728 — — 1,728 Dividends paid (4,875 ) — (10,200 ) 10,200 (4,875 ) Intercompany financing — 14,244 (6,975 ) (7,269 ) — Debt issue costs — (2,004 ) (77 ) — (2,081 ) Proceeds from exercise of stock options 1,944 — — — 1,944 Net cash (used in) provided by financing activities (2,931 ) 43,968 (11,902 ) 2,931 32,066 Net decrease in cash and cash equivalents — (109,535 ) (3,655 ) — (113,190 ) Cash and cash equivalents balance at beginning of period — 113,407 15,318 — 128,725 Cash and cash equivalents balance at end of period $ — $ 3,872 $ 11,663 $ — $ 15,535 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2013 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 7,100 $ (72,633 ) $ (1,341 ) $ (7,100 ) $ (73,974 ) CASH FLOWS FROM INVESTING ACTIVITIES: Restricted cash — (5,185 ) — — (5,185 ) Purchase of property and equipment — (2,146 ) (236 ) — (2,382 ) Investments in and advances to unconsolidated joint ventures — (13,525 ) (15,984 ) — (29,509 ) Return of capital from unconsolidated joint ventures — — 1,522 — 1,522 Net cash used in investing activities — (20,856 ) (14,698 ) — (35,554 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of convertible senior subordinated notes due 2018 86,250 — — — 86,250 Proceeds from issuance of common shares 54,617 — — — 54,617 Redemption of preferred shares (50,352 ) — — — (50,352 ) Net proceeds from bank borrowings - financial services operations — — 12,072 — 12,072 Principal proceeds from note payable - other and CDD bond obligations — (3,315 ) — — (3,315 ) Dividends paid (3,656 ) — (7,100 ) 7,100 (3,656 ) Intercompany financing (96,599 ) 89,279 7,320 — — Debt issue costs — (5,402 ) (99 ) — (5,501 ) Proceeds from exercise of stock options 2,640 — — — 2,640 Net cash (used in) provided by financing activities (7,100 ) 80,562 12,193 7,100 92,755 Net increase in cash and cash equivalents — (12,927 ) (3,846 ) — (16,773 ) Cash and cash equivalents balance at beginning of period — 126,334 19,164 — 145,498 Cash and cash equivalents balance at end of period $ — $ 113,407 $ 15,318 $ — $ 128,725

Supplementary Financial Data

Supplementary Financial Data	12 Months Ended
	Dec. 31, 2015
Supplementary Financial Data [Abstract]
Additional Financial Information Disclosure [Text Block]	Supplementary Financial Data The following tables set forth our selected consolidated financial and operating data for the quarterly periods indicated. December 31, 2015 September 30, 2015 June 30, March 31, 2015 (In thousands, except per share amounts) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 468,923 $ 363,457 $ 322,856 $ 263,159 Gross margin $ 94,816 $ 78,041 $ 70,261 $ 56,976 Net income to common shareholders $ 12,056 $ 14,352 $ 12,131 $ 8,349 Earnings per common share: Basic $ 0.49 $ 0.58 $ 0.49 $ 0.34 Diluted $ 0.43 $ 0.51 $ 0.43 $ 0.31 Weighted average common shares outstanding: Basic 24,649 24,605 24,531 24,514 Diluted 30,107 30,067 30,023 29,975 December 31, 2014 September 30, 2014 June 30, March 31, (In thousands, except per share amounts) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 367,964 $ 330,767 $ 281,608 $ 234,841 Gross margin $ 73,759 $ 68,509 $ 59,587 $ 50,877 Net income to common shareholders $ 9,767 $ 12,399 $ 12,335 $ 11,413 Earnings per common share: Basic $ 0.40 $ 0.51 $ 0.50 $ 0.47 Diluted $ 0.36 $ 0.44 $ 0.44 $ 0.41 Weighted average common shares outstanding: Basic 24,489 24,474 24,470 24,417 Diluted 29,944 29,921 29,913 29,870

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Business, Policy [Policy Text Block]	Business. M/I Homes, Inc. and its subsidiaries (the “Company” or “we”) is engaged primarily in the construction and sale of single-family residential property in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Tampa and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina; and the Virginia and Maryland suburbs of Washington, D.C. The Company designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction. The Company also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others. Our homebuilding operations operate across three geographic regions in the United States. Within these regions, our operations have similar economic characteristics; therefore, they have been aggregated into three reportable homebuilding segments: Midwest homebuilding, Southern homebuilding and Mid-Atlantic homebuilding. The Company conducts mortgage financing activities through its 100%-owned subsidiary, M/I Financial, LLC (“M/I Financial”), which originates mortgage loans primarily for purchasers of the Company’s homes. The loans and the servicing rights are generally sold to outside mortgage lenders. The Company and M/I Financial also operate 100% and majority-owned subsidiaries that provide title services to purchasers of the Company’s homes. Our mortgage banking and title service activities have similar economic characteristics; therefore, they have been aggregated into one reportable segment, the financial services segment.
Basis of Presentation, Policy [Policy Text Block]	Basis of Presentation. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of M/I Homes, Inc. and those of our consolidated subsidiaries, partnerships and other entities in which we have a controlling financial interest, and of variable interest entities in which we are deemed the primary beneficiary (collectively, “us”, “we”, “our” and the “Company”). Intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents. Liquid investments with an initial maturity of three months or less are classified as cash and cash equivalents. Amounts in transit from title companies for homes delivered of approximately $8.4 million and $7.5 million are included in cash and cash equivalents at December 31, 2015 and 2014 , respectively. Our financial services operations held $18.2 million and $11.7 million of the Company’s cash and cash equivalents at December 31, 2015 and 2014 .
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash. At December 31, 2015 and 2014 , restricted cash consists primarily of amounts held in restricted accounts as collateral for letters of credit of $2.9 million and $7.0 million , respectively.
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block]	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. Refer to the Revenue Recognition policy described below for additional discussion.
Inventory, Policy [Policy Text Block]	Inventory. 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. Land acquisition, land development and common costs (both incurred and estimated to be incurred) are typically allocated to individual lots based on the total number of lots expected to be closed in each community or phase, or based on the relative fair value, the relative sales value or the front footage method of each lot. Any changes to the estimated total development costs of a community or phase are allocated proportionately to homes remaining in the community or phase and homes previously closed. The cost of individual lots is transferred to homes under construction when home construction begins. Home construction costs are accumulated on a specific identification basis. Costs of home deliveries include the specific construction cost of the home and the allocated lot costs. Such costs are charged to cost of sales simultaneously with revenue recognition, as discussed above. When a home is closed, we typically have not yet paid all incurred costs necessary to complete the home. As homes close, we compare the home construction budget to actual recorded costs to date to estimate the additional costs to be incurred from our subcontractors related to the home. We record a liability and a corresponding charge to cost of sales for the amount we estimate will ultimately be paid related to that home. We monitor the accuracy of such estimates by comparing actual costs incurred in subsequent months to the estimate, although actual costs to complete a home in the future could differ from our estimates. 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 as required by the FASB Accounting Standards Codification (“ASC”) 360-10, Property, Plant and Equipment (“ASC 360”). The Company assesses inventory for recoverability on a quarterly basis if events or changes in local or national economic conditions indicate that the carrying amount of an asset may not be recoverable. In conducting our quarterly review for indicators of impairment on a community level, we evaluate, among other things, margins on sales contracts in backlog, the margins on homes that have been delivered, expected changes in margins with regard to future home sales over the life of the community, expected changes in margins with regard to future land sales, the value of the land itself as well as any results from third party appraisals. We pay particular attention to communities in which inventory is moving at a slower than anticipated absorption pace, and communities whose average sales price and/or margins are trending downward and are anticipated to continue to trend downward. We also evaluate communities where management intends to lower the sales price or offer incentives in order to improve absorptions even if the community’s historical results do not indicate a potential for impairment. From the review of all of these factors, we identify communities whose carrying values may exceed their estimated undiscounted future cash flows and run a test for recoverability. For those communities whose carrying values exceed the estimated undiscounted future cash flows and which are deemed to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the communities exceeds the estimated fair value. Due to the fact that the Company’s cash flow models and estimates of fair values are based upon management estimates and assumptions, unexpected changes in market conditions and/or changes in management’s intentions with respect to the inventory may lead the Company to incur additional impairment charges in the future. Our determination of fair value is based on projections and estimates, which are Level 3 measurement inputs. Because each inventory asset is unique, there are numerous inputs and assumptions used in our valuation techniques, including 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, which could materially impact future cash flow and fair value estimates. As of December 31, 2015 , our projections generally assume a gradual improvement in market conditions over time. If communities are not recoverable based on 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 fair value of a community is estimated by discounting management’s cash flow projections using an appropriate risk-adjusted interest rate. As of both December 31, 2015 and December 31, 2014 , we utilized discount rates ranging from 13% to 16% in our valuations. The discount rate used in determining each asset’s estimated fair value reflects the inherent risks associated with the related estimated cash flow stream, as well as current risk-free rates available in the market and estimated market risk premiums. For example, construction in progress inventory, which is closer to completion, will generally require a lower discount rate than land under development in communities consisting of multiple phases spanning several years of development. Our quarterly assessments reflect management’s best estimates. Due to the inherent uncertainties in management’s estimates and uncertainties related to our operations and our industry as a whole, we are unable to determine at this time if and to what extent continuing future impairments will occur. Additionally, due to the volume of possible outcomes that can be generated from changes in the various model inputs for each community, we do not believe it is possible to create a sensitivity analysis that can provide meaningful information for the users of our financial statements. Further details relating to our assessment of inventory for recoverability are included in Note 3 to our Consolidated Financial Statements.
Interest Capitalization, Policy [Policy Text Block]	Capitalized Interest. The Company capitalizes interest during land development and home construction. Capitalized interest is charged to cost of sales as the related inventory is delivered to a third party. The summary of capitalized interest for the years ended December 31, 2015, 2014 and 2013 is as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Capitalized interest, beginning of period $ 15,296 $ 13,802 $ 15,376 Interest capitalized to inventory 18,410 17,937 13,601 Capitalized interest charged to cost of sales (16,966 ) (16,443 ) (15,175 ) Capitalized interest, end of year $ 16,740 $ 15,296 $ 13,802 Interest incurred $ 35,931 $ 31,302 $ 29,539
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	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. In order to determine if we should consolidate an LLC, we determine (1) if the LLC is a variable interest entity (“VIE”) and (2) if we are the primary beneficiary of the entity. To determine whether we are the primary beneficiary of an entity, we consider whether we have the ability to control the activities of the VIE that most significantly impact its economic performance. This analysis considers, among other things, whether we have the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with M/I Homes; and the ability to change or amend the existing option contract with the VIE. If we determine that we are not able to control such activities, we are not considered the primary beneficiary of the VIE. As of December 31, 2015 and December 31, 2014 , we have determined that one of the LLCs in which we have an interest meets the requirements of a VIE due to a lack of equity at risk in the entity. However, we have determined that we do not have substantive control over that 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 Consolidated Balance Sheets.
Off-Balance Sheet Obligations [Policy Text Block]	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, using an analysis similar to that described above. Although we do not have legal title to the optioned land, ASC 810 requires a company to consolidate a VIE if the company is determined to be the primary beneficiary. In cases where we are the primary beneficiary, even though we do not have title to such land, we are required to consolidate these purchase/option agreements and reflect such assets and liabilities as Consolidated Inventory not Owned in our Consolidated Balance Sheets. At both December 31, 2015 and 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. Other than as described above in “Consolidated Inventory Not Owned,” the Company currently believes that its maximum exposure as of December 31, 2015 related to our land option agreements is equal to the amount of the Company’s outstanding deposits and prepaid acquisition costs, which totaled $36.4 million , including cash deposits of $23.7 million , prepaid acquisition costs of $4.1 million , letters of credit of $6.5 million and $2.1 million of other non-cash deposits.
Equity Method Investments, Policy [Policy Text Block]	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 2015 , we increased our total investment in such joint venture arrangements by $9.2 million from $27.8 million at December 31, 2014 to $37.0 million at December 31, 2015 , which was driven primarily by our increased cash contributions to our unconsolidated joint ventures of $18.2 million in 2015 , offset partially by our increased lot distributions from unconsolidated joint ventures during 2015 of $8.2 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 Consolidated Statements of Income. The Company assesses its investments in unconsolidated joint ventures for recoverability on a quarterly basis in accordance with ASC 323, Investments - Equity Method and Joint Ventures (“ASC 323”) as described below. If the fair value of the investment is less than the investment’s carrying value, and 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. The determination of whether an investment’s fair value is less than the carrying value requires management to make certain assumptions regarding the amount and timing of future contributions to the unconsolidated joint venture, the timing of distribution of lots to the Company from the unconsolidated joint venture, the projected fair value of the lots at the time of distribution to the Company, and the estimated proceeds from, and timing of, the sale of land or lots to third parties. In determining the fair value of investments in unconsolidated joint ventures, the Company evaluates the projected cash flows associated with each unconsolidated joint venture. As of both December 31, 2015 and December 31, 2014 , the Company used a discount rate of 16% in determining the fair value of investments in unconsolidated joint ventures. In addition to the assumptions management must make to determine if the investment’s fair value is less than the carrying value, management must also use judgment in determining whether the impairment is other than temporary. The factors management considers are: (1) the length of time and the extent to which the market value has been less than cost; (2) the financial condition and near-term prospects of the company; and (3) the intent and ability of the Company to retain its investment in the unconsolidated joint venture for a period of time sufficient to allow for any anticipated recovery in market value. Due to uncertainties in the estimation process and the significant volatility in demand for new housing, actual results could differ significantly from such estimates. 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 December 31, 2015 ranged from 25% to 74% and as of December 31, 2014 ranged from 25% and 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 December 31, 2015 is the amount invested of $37.0 million (in addition to a $2.5 million note due to the Company from one of the unconsolidated joint ventures), although we expect to invest further amounts in these unconsolidated joint ventures as development of the properties progresses. Further details relating to our unconsolidated joint ventures are included in Note 6 to our Consolidated Financial Statements.
Consolidated Inventory Not Owned [Policy Text Block]	Consolidated Inventory Not Owned and Related Obligation . At December 31, 2015 and December 31, 2014 , Consolidated Inventory Not Owned was $6.0 million and $0.8 million , respectively. At December 31, 2015 and 2014 , the corresponding liability of $6.0 million and $0.6 million , respectively, has been classified as Obligation for Consolidated Inventory Not Owned on the Consolidated Balance Sheets.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment-net. The Company records property and equipment at cost and subsequently depreciates the assets using both straight-line and accelerated methods. Following are the major classes of depreciable assets and their estimated useful lives: Year Ended December 31, 2015 2014 Land, building and improvements $ 11,823 $ 11,823 Office furnishings, leasehold improvements, computer equipment and computer software 25,676 24,281 Transportation and construction equipment 102 156 Property and equipment 37,601 36,260 Accumulated depreciation (24,704 ) (24,771 ) Property and equipment, net $ 12,897 $ 11,490 Estimated Useful Lives Building and improvements 35 years Office furnishings, leasehold improvements, computer equipment and computer software 3-7 years Transportation and construction equipment 5-7 years Depreciation expense was $2.3 million , $2.0 million and $2.2 million in 2015, 2014 and 2013 , respectively.
Receivables, Policy [Policy Text Block]	Notes Receivable. In certain instances, we may accept consideration for land sales or other transactions in the form of a note receivable. The counterparties for these transactions are generally land developers, other real estate investors or, in some cases, affiliated unconsolidated LLCs. We consider the creditworthiness of the counterparty when evaluating the relative risk and return involved in pursuing the applicable transaction. Due to the unique facts and circumstances surrounding each receivable, we assess the need for an allowance on an individual basis. Factors considered as part of this assessment include the counterparty’s payment history, the value of any underlying collateral, communications with the counterparty, knowledge of the counterparty’s financial condition and plans, and the current and expected economic environment. Such receivables are reported net of allowance for credit losses within other assets. Such receivables are generally reported in Other Assets in our Consolidated Balance Sheets. At December 31, 2015 , Other Assets included notes receivable totaling $3.2 million with interest rates of 0% and 2% and maturities from 2016 to 2017 . At December 31, 2014 , Other Assets included notes receivable totaling $4.3 million , with interest rates ranging from 0% to 12% , and maturities from 2015 to 2016. With respect to the balance at both December 31, 2015 and 2014 , $2.5 million was from an affiliated unconsolidated joint venture.
Deferred Charges, Policy [Policy Text Block]	Deferred Costs. At December 31, 2015 and 2014 , unamortized debt issue costs of $2.6 million and $3.1 million , respectively, are included in Other Assets on the Consolidated Balance Sheets. The costs are primarily amortized to interest expense using the straight line method, which approximates the effective interest method.
Other Assets [Policy Text Block]	Other Assets. In addition to notes receivable and deferred costs described above, other assets include assets related to mortgage servicing rights, deposits, pre-acquisition costs for land and prepaid expenses for our insurance programs and other business related items.
Extended Product Warranty, Policy [Policy Text Block]	Warranty Reserves. We use subcontractors for nearly all aspects of home construction. Although our subcontractors are generally required to repair and replace any product or labor defects, we are, during applicable warranty periods, ultimately responsible to the homeowner for making such repairs. As such, we record warranty reserves to cover our exposure to the costs for materials and labor not expected to be covered by our subcontractors to the extent they relate to warranty-type claims. Warranty reserves are established by charging cost of sales and crediting a warranty reserve for each home closed. The amounts charged are estimated by management to be adequate to cover expected warranty-related costs described above under the Company’s warranty programs. Reserves are recorded for warranties under the following warranty programs: • Home Builder’s Limited Warranty (“HBLW”); and • 30, 15 or 10-year transferable structural warranty, depending on sales date and state. 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. At December 31, 2015 and 2014 , warranty reserves of $14.3 million and $12.7 million , respectively, are included in Other Liabilities on the Consolidated Balance Sheets.
InsuranceDeductibleReservesPolicyPolicyTextBlock	Self-insurance Reserves. Self-insurance reserves are made for estimated liabilities associated with employee health care, workers’ compensation, and general liability insurance. For 2015 , our self-insurance limit for employee health care was $250,000 per claim per year, with stop loss insurance covering amounts in excess of $250,000 . Our workers’ compensation claims are insured by a third party and carry a deductible of $250,000 per claim, except for workers compensation claims made in the State of Ohio where the Company is self-insured. Our self-insurance limit for Ohio workers’ compensation is $500,000 per claim, with stop loss insurance covering all amounts in excess of this limit. The reserves related to employee health care and workers’ compensation are based on historical experience and open case reserves. Our general liability claims are insured by a third party. The Company generally has a $7.5 million completed operations/construction defect deductible per occurrence by region and a $22.0 million deductible in the aggregate, with a $500,000 deductible for all other types of claims. The Company records a reserve for general liability claims falling below the Company’s deductible. The reserve estimate is based on an actuarial evaluation of our past history of general liability claims, other industry specific factors and specific event analysis. At December 31, 2015 and 2014 , self-insurance reserves of $1.6 million and $1.3 million , respectively, are included in Other Liabilities on the Consolidated Balance Sheets. The Company recorded expenses totaling $6.1 million , $7.8 million and $5.4 million , respectively, for all self-insured and general liability claims during the years ended December 31, 2015, 2014 and 2013 .
Guarantees, Indemnifications and Warranties Policies [Policy Text Block]	Guarantees and Indemnities. Guarantee and indemnity liabilities are established by charging the applicable income statement or balance sheet line, depending on the nature of the guarantee or indemnity, and crediting a liability. M/I Financial provides a limited-life guarantee on loans sold to certain third parties and estimates its actual liability related to the guarantee and any indemnities subsequently provided to the purchaser of the loans in lieu of loan repurchase based on historical loss experience. Actual future costs associated with loans guaranteed or indemnified could differ materially from our current estimated amounts. The Company has also provided certain other guarantees and indemnities in connection with the purchase and development of land, including environmental indemnities, and guarantees of the completion of land development. The Company estimates these liabilities based on the estimated cost of insurance coverage or estimated cost of acquiring a bond in the amount of the exposure. Actual future costs associated with these guarantees and indemnities could differ materially from our current estimated amounts. At December 31, 2015 and 2014 , guarantees and indemnities of $1.4 million and $3.1 million , respectively, are included in Other Liabilities on the Consolidated Balance Sheets.
Other Liabilities [Policy Text Block]	Other Liabilities. In addition to warranty, self-insurance reserves, and reserves for guarantees and indemnities, other liabilities includes taxes payable, accrued compensation, and various other land related and miscellaneous accrued expenses.
Segment Reporting, Policy [Policy Text Block]	Segment Reporting. The application of segment reporting requires significant judgment in determining our operating segments. Operating segments are defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Company’s chief operating decision makers to evaluate performance, make operating decisions and determine how to allocate resources. The Company’s chief operating decision makers evaluate the Company’s performance in various ways, including: (1) the results of our 14 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding regions; 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. Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance, treasury, information technology, insurance and risk management, litigation, marketing and human resources. 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 included in 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. We may, however, be required to reclassify our reportable segments if markets that currently are being aggregated do not continue to share these aggregation characteristics.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition. Revenue from the sale of a home is recognized when the delivery has occurred, title has passed, the risks and rewards of ownership are transferred to the buyer, and an adequate initial and continuing investment by the homebuyer is received, or when the loan has been sold to a third-party investor. Revenue for homes that close to the buyer having a down payment of 5% or greater, home deliveries financed by third parties, and all home deliveries insured under Federal Housing Administration (“FHA”), U.S. Veterans Administration (“VA”) and other government-insured programs are recorded in the financial statements on the date of closing. Revenue related to all other home deliveries initially funded by M/I Financial, our 100%-owned subsidiary, is recorded on the date that M/I Financial sells the loan to a third-party investor, because the receivable from the third-party investor is not subject to future subordination, and the Company has transferred to this investor the usual risks and rewards of ownership that is in substance a sale and does not have a substantial continuing involvement with the home. We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or set up with the subservicer. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee. Generally, all of the financial services mortgage loans and related servicing rights are sold to third party investors within two to three weeks of origination; however, M/I Financial began retaining a portion of mortgage loan servicing rights during 2012. As of December 31, 2015 and 2014 , we retained mortgage servicing rights of 2,818 and 2,517 loans, respectively, for a total value of $7.5 million and $6.9 million , respectively. We recognize financial services revenue associated with our title operations as homes are closed, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is closed. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers.
Cost of Sales, Policy [Policy Text Block]	Land and Housing Cost of Sales. All associated homebuilding costs are charged to cost of sales in the period when the revenues from home deliveries are recognized. Homebuilding costs include: land and land development costs; home construction costs (including an estimate of the costs to complete construction); previously capitalized interest; real estate taxes; indirect costs; and estimated warranty costs. All other costs are expensed as incurred. Sales incentives, including pricing discounts and financing costs paid by the Company, are recorded as a reduction of revenue in the Company’s Consolidated Statements of Income. Sales incentives in the form of options or upgrades are recorded in homebuilding costs.
Income Tax, Policy [Policy Text Block]	Income Taxes. The Company records income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based on future tax consequences attributable to (1) temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and (2) operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse. In accordance with ASC 740-10, Income Taxes (“ASC 740”) , we evaluate the realizability of our deferred tax assets, including the benefit from net operating losses (“NOLs”) and tax credit carryforwards, to determine if a valuation allowance is required based on whether it is more likely than not (a likelihood of more than 50%) that all or any portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income. In determining the future tax consequences of events that have been recognized in the financial statements or tax returns, judgment is required. This assessment gives appropriate consideration to all positive and negative evidence related to the realization of the deferred tax assets and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, our experience with operating losses and our experience of utilizing tax credit carryforwards and tax planning alternatives. Please see Note 14 to our Consolidated Financial Statements for more information regarding our deferred tax assets.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share. The Company computes earnings per share in accordance with ASC 260, Earnings per Share , (“ASC 260”). Basic earnings per share is calculated by dividing income attributable to common shareholders by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to the potential dilution that could occur if securities or contracts to issue our common shares that are dilutive were exercised or converted into common shares or resulted in the issuance of common shares that then shared our earnings. In periods of net losses, no dilution is computed. Please see Note 13 to our Consolidated Financial Statements for more information regarding our earnings per share calculation.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation. We measure and recognize compensation expense associated with our grant of equity-based awards in accordance with ASC 718, Compensation-Stock Compensation (“ASC 718”), which generally requires that companies measure and recognize stock-based compensation expense in an amount equal to the fair value of share-based awards granted under compensation arrangements over the related vesting period. We have granted share-based awards to certain of our employees and directors in the form of stock options, director stock units and performance share units (“PSU’s”). Each PSU represents a contingent right to receive one common share of the Company if vesting is satisfied at the end of the performance period based on the related performance conditions and markets conditions. Determining the fair value of share-based awards requires judgment to identify the appropriate valuation model and develop the assumptions. The grant date fair value for stock option awards and PSU’s with a market condition (as defined in ASC 718) is estimated using the Black-Scholes option pricing model and the Monte Carlo simulation methodology, respectively. The grant date fair value for the director stock units and PSU’s with a performance condition (as defined in ASC 718) is based upon the closing price of our common shares on the date of grant. We recognize stock-based compensation expense for our stock option awards and PSU’s with a market condition over the requisite service period of the award while stock-based compensation expense for our director stock units, which vest immediately, is fully recognized in the period of the award. For the portion of the PSU’s awarded subject to the satisfaction of a performance condition, we recognize stock-based compensation expense on a straight-line basis over the performance period based on the probable outcome of the related performance condition. If satisfaction of the performance condition is not probable, stock-based compensation expense recognition is deferred until probability is attained and a cumulative compensation expense adjustment is recorded and recognized ratably over the remaining service period. The Company reevaluates the probability of the satisfaction of the performance condition on a quarterly basis, and stock-based compensation expense is adjusted based on the portion of the requisite service period that has passed. If actual results differ significantly from these estimates, stock-based compensation expense could be higher and have a material impact on our consolidated financial statements. Please see Note 2 to our Consolidated Financial Statements for more information regarding our stock-based compensation.
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block]	Letters of Credit and Completion Bonds. The Company provides standby letters of credit and completion bonds for development work in progress, deposits on land and lot purchase agreements and miscellaneous deposits. As of December 31, 2015 , the Company had outstanding $144.1 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) $94.3 million of performance and maintenance bonds and $30.1 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; and (3) $7.3 million of financial bonds. The development agreements under which we are required to provide completion bonds or letters of credit are generally not subject to a required completion date and only require that the improvements are in place in phases as houses are built and sold. In locations where development has progressed, the amount of development work remaining to be completed is typically less than the remaining amount of bonds or letters of credit due to timing delays in obtaining release of the bonds or letters of credit.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards. In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. ASU 2015-03 is effective for annual reporting periods beginning on or after December 15, 2015. The Company elected to early adopt the ASU during the fourth quarter of 2015 which is to be applied on a retrospective basis and represents a change in accounting principle. As a result, as of December 31, 2015 and 2014, the Company reclassified a total of $7.8 million and $6.2 million , respectively, of the Company’s debt issuance costs from Other Assets to Senior Notes and Convertible Senior Subordinated Notes. ASU 2015-03 was applied retrospectively to the financial statements and as such, comparative financial statements of prior years have been adjusted accordingly. The below financial statement line items, reflected on the December 31, 2014 Consolidated Balance Sheets, were affected by the change in accounting principle. Balance Sheet As of December 31, 2014 (In thousands) As Previously Reported Adjustment As Adjusted Other assets $ 43,870 $ (6,171 ) $ 37,699 Total assets $ 1,211,410 $ (6,171 ) $ 1,205,239 Convertible senior subordinated notes due 2017 - net $ 57,500 $ (1,557 ) $ 55,943 Convertible senior subordinated notes due 2018 - net $ 86,250 $ (2,244 ) $ 84,006 Senior notes - net $ 228,469 $ (2,370 ) $ 226,099 Total liabilities $ 667,115 $ (6,171 ) $ 660,944 In addition, in August 2015, the FASB issued ASU No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (“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. Therefore, in accordance with ASU 2015-15, the Company determined to continue presenting the debt issuance costs associated with the Company's revolving credit facility, letters of credit facilities and warehouse facilities as Other Assets included within our Consolidated Balance Sheets and continue amortizing those deferred costs over the term of the facilities. In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 requires an acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. ASU 2015-16 is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted. Given the short-time frame between the effective date (December 1, 2015) of our Minneapolis/St. Paul acquisition and our 2015 year-end, the Company elected to early adopt this guidance beginning in the fourth quarter of 2015. In accordance with ASU 2015-16, while we have recorded provisional account balances based on guidance contained in the FASB Accounting Standards Codification (“ASC”) 805-10, Business Combinations (“ASC 805”), we will update such balances, if necessary, upon further verification of the fair values with third parties on certain other assets, more relevant history on profitability of backlog, and further understanding of cost to complete activities, if any, on purchased communities. 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 February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 amends the consolidation requirements in ASC 810 and requires management to reevaluate whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities. Further, the amendments eliminate the presumption that a general partner should consolidate a limited partnership, as well as affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for the Company beginning January 1, 2016 and subsequent interim periods. Early adoption is permitted. The adoption of ASU 2015-02 is not expected to have a material effect on the Company’s consolidated financial statements and disclosures. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which makes a number of changes to the current GAAP model, including changes to the accounting for equity investments and financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for our interim and annual reporting periods beginning January 1, 2018. Early adoption of this particular guidance from ASU 2016-01 is not permitted. The Company is currently evaluating the method of adoption and impact the pronouncement will have on the Company’s consolidated financial statements and disclosures.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	he below financial statement line items, reflected on the December 31, 2014 Consolidated Balance Sheets, were affected by the change in accounting principle. Balance Sheet As of December 31, 2014 (In thousands) As Previously Reported Adjustment As Adjusted Other assets $ 43,870 $ (6,171 ) $ 37,699 Total assets $ 1,211,410 $ (6,171 ) $ 1,205,239 Convertible senior subordinated notes due 2017 - net $ 57,500 $ (1,557 ) $ 55,943 Convertible senior subordinated notes due 2018 - net $ 86,250 $ (2,244 ) $ 84,006 Senior notes - net $ 228,469 $ (2,370 ) $ 226,099 Total liabilities $ 667,115 $ (6,171 ) $ 660,944
Property, Plant and Equipment [Table Text Block]	Following are the major classes of depreciable assets and their estimated useful lives: Year Ended December 31, 2015 2014 Land, building and improvements $ 11,823 $ 11,823 Office furnishings, leasehold improvements, computer equipment and computer software 25,676 24,281 Transportation and construction equipment 102 156 Property and equipment 37,601 36,260 Accumulated depreciation (24,704 ) (24,771 ) Property and equipment, net $ 12,897 $ 11,490 Estimated Useful Lives Building and improvements 35 years Office furnishings, leasehold improvements, computer equipment and computer software 3-7 years Transportation and construction equipment 5-7 years
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	The summary of capitalized interest for the years ended December 31, 2015, 2014 and 2013 is as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Capitalized interest, beginning of period $ 15,296 $ 13,802 $ 15,376 Interest capitalized to inventory 18,410 17,937 13,601 Capitalized interest charged to cost of sales (16,966 ) (16,443 ) (15,175 ) Capitalized interest, end of year $ 16,740 $ 15,296 $ 13,802 Interest incurred $ 35,931 $ 31,302 $ 29,539

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Activity [Table Text Block]	Following is a summary of stock option activity for the year ended December 31, 2015 , relating to the stock options awarded under the 2009 LTIP and the 1993 Plan: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (a) (In thousands) Options outstanding at December 31, 2014 2,016,368 $ 24.47 5.71 $ 7,470 Granted 386,500 21.28 Exercised (72,640 ) 14.24 Forfeited (221,600 ) 43.78 Options outstanding at December 31, 2015 2,108,628 $ 22.21 5.83 $ 6,300 Options vested or expected to vest at December 31, 2015 2,084,208 $ 22.07 5.72 $ 6,544 Options exercisable at December 31, 2015 1,453,728 $ 22.19 4.65 $ 5,884 (a) Intrinsic value is defined as the amount by which the fair value of the underlying common shares exceeds the exercise price of the option.
Five Year Service Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair value of our five-year service-based stock options granted during the years ended December 31, 2015, 2014 and 2013 was established at the date of grant using the Black-Scholes pricing model, with the weighted average assumptions as follows: Year Ended December 31, 2015 2014 2013 Risk-free interest rate 1.72 % 1.75 % 0.88 % Expected volatility 56.37 % 57.99 % 56.70 % Expected term (in years) 5.6 5.6 5.5 Weighted average grant date fair value of options granted during the period $ 11.07 $ 12.64 $ 11.97

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2015 and 2014 : December 31, Description of Financial Instrument (in thousands) 2015 2014 Best efforts contracts and related committed IRLCs $ 2,625 $ 3,072 Uncommitted IRLCs 46,339 28,028 FMBSs related to uncommitted IRLCs 46,000 41,000 Best efforts contracts and related mortgage loans held for sale 100,152 61,233 FMBSs related to mortgage loans held for sale 27,000 27,000 Mortgage loans held for sale covered by FMBSs 26,690 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 December 31, 2015 and 2014 : Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 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 $ 127,001 $ — $ 127,001 $ — Forward sales of mortgage-backed securities (93 ) — (93 ) — Interest rate lock commitments 321 — 321 — Best-efforts contracts (206 ) — (206 ) — Total $ 127,023 $ — $ 127,023 $ — 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 (loss) gain recognized, within our revenue in the Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the years ended December 31, 2015, 2014 and 2013 : Year Ended December 31, Description (in thousands) 2015 2014 2013 Mortgage loans held for sale $ (590 ) $ 3,191 $ (2,094 ) Forward sales of mortgage-backed securities 89 (927 ) 492 Interest rate lock commitments 32 607 (320 ) Best-efforts contracts (258 ) (426 ) 482 Total (loss) gain recognized $ (727 ) $ 2,445 $ (1,440 )
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 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 December 31, 2015 December 31, 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 $ 93 Interest rate lock commitments Other assets 321 Other liabilities — Best-efforts contracts Other assets — Other liabilities 206 Total fair value measurements $ 321 $ 299 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 and Liabilities Measured on Nonrecurring Basis [Table Text Block]	The tables below show the level and measurement of assets measured on a non-recurring basis for the years ended December 31, 2015 and 2014 : Year Ended December 31, Description (in thousands) Hierarchy 2015 2014 (2) 2013 (2) Adjusted basis of inventory (1) Level 3 $ 11,885 $ 3,730 $ 5,494 Total losses 3,638 3,457 5,805 Initial basis of inventory (3) $ 15,523 $ 7,187 $ 11,299 (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. (3) This amount is inclusive of our investments in unconsolidated joint ventures. There were no losses on our investments in unconsolidated joint ventures for 2015 and 2013 . The total loss for these unconsolidated joint ventures was $1.0 million for 2014 .
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 December 31, 2015 and 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). December 31, 2015 December 31, 2014 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 13,101 $ 13,101 $ 22,486 $ 22,486 Mortgage loans held for sale 127,001 127,001 92,794 92,794 Split dollar life insurance policies 199 199 187 187 Notes receivable 3,153 3,076 4,288 3,793 Commitments to extend real estate loans 321 321 289 289 Best-efforts contracts for committed IRLCs and mortgage loans held for sale — — 58 58 Liabilities: Notes payable - homebuilding operations 43,800 43,800 30,000 30,000 Notes payable - financial services operations 123,648 123,648 85,379 85,379 Notes payable - other 8,441 8,039 9,518 9,089 Convertible senior subordinated notes due 2017 57,500 61,884 57,500 67,634 Convertible senior subordinated notes due 2018 86,250 84,741 86,250 87,544 Senior notes 300,000 295,500 228,469 239,488 Best-efforts contracts for committed IRLCs and mortgage loans held for sale 206 206 — — Forward sales of mortgage-backed securities 93 93 182 182 Off-Balance Sheet Financial Instruments: Letters of credit — 735 — 881

Inventory Inventory (Tables)

Inventory Inventory (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory [Abstract]
Schedule of Inventory, Current [Table Text Block]	A summary of the Company’s inventory as of December 31, 2015 and 2014 is as follows: December 31, (In thousands) 2015 2014 Single-family lots, land and land development costs $ 584,542 $ 463,198 Land held for sale 12,630 10,647 Homes under construction 420,206 371,119 Model homes and furnishings - at cost (less accumulated depreciation: December 31, 2015 - $8,296; December 31, 2014 - $7,010) 63,929 46,780 Community development district infrastructure 1,018 2,571 Land purchase deposits 23,710 23,495 Consolidated inventory not owned 6,007 779 Total inventory $ 1,112,042 $ 918,589

Investment in Unconsolidated 29

Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2015
Investment in Unconsolidated LLCs [Abstract]
Balance Sheets of Unconsolidated Joint Ventures [Table Text Block]	Summarized Condensed Combined Balance Sheets: December 31, (In thousands) 2015 2014 Assets: Single-family lots, land and land development costs (a) (b) $ 53,754 $ 49,987 Other assets 5,499 2,917 Total assets $ 59,253 $ 52,904 Liabilities and partners’ equity: Liabilities: Notes payable $ 7,025 $ 12,153 Other liabilities 2,190 2,887 Total liabilities 9,215 15,040 Partners’ equity: Company’s equity (a) (b) $ 24,367 $ 18,728 Other equity 25,671 19,136 Total partners’ equity $ 50,038 $ 37,864 Total liabilities and partners’ equity $ 59,253 $ 52,904 (a) For the years ended December 31, 2015 and 2014 , impairment expenses and other miscellaneous adjustments totaling $4.8 million and $6.0 million , respectively, were excluded from the table above. (b) For the years ended December 31, 2015 and 2014 , the table above excludes the Company’s investment in joint development arrangements for which a special purpose entity was not established, totaling $17.4 million and $15.0 million , respectively.
Statements of Operations of Unconsolidated Joint Ventures [Table Text Block]	Summarized Condensed Combined Statements of Operations: Year Ended December 31, (In thousands) 2015 2014 2013 Revenue $ 5,800 $ 2,424 $ 2,909 Costs and expenses 3,527 1,147 1,763 Income $ 2,273 $ 1,277 $ 1,146

Guarantees and Indemnificatio30

Guarantees and Indemnifications Guarantees and Indemnifications (Tables)	12 Months Ended
	Dec. 31, 2015
Warranty Reserve Rollforward [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	A summary of warranty activity for the years ended December 31, 2015, 2014 and 2013 is as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Warranty reserves, beginning of period $ 12,671 $ 12,291 $ 10,438 Warranty expense on homes delivered during the period 8,812 7,311 7,023 Changes in estimates for pre-existing warranties 5,160 5,223 2,394 Settlements made during the period (12,361 ) (12,154 ) (7,564 ) Warranty reserves, end of period $ 14,282 $ 12,671 $ 12,291

Community Development Distric31

Community Development District Infrastructure and Related Obligations Community Development District Infrastructure and Related Obligations (Tables)	12 Months Ended
	Dec. 31, 2015
Community Development District Infrastructure and Realted Obligations [Abstract]
Schedule of Maturities of Long-term Debt [Table Text Block]	Following are details relating to such CDD bond obligations issued and outstanding as of December 31, 2015 : Issue Date Maturity Date Interest Rate Principal Amount as of December 31, 2015 (in thousands) Principal Amount as of December 31, 2014 (in thousands) 7/15/2004 12/1/2022 6.00% $ 2,922 $ 2,922 7/15/2004 12/1/2036 6.25% 10,060 10,060 7/22/2014 11/1/2045 5.28% 535 1,805 Total CDD bond obligations issued and outstanding $ 13,517 $ 14,787

Debt Debt (Tables)

Debt Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt [Abstract]
Investments Classified by Contractual Maturity Date [Table Text Block]	Maturities over the next five years with respect to the Company’s debt as of December 31, 2015 are as follows: Year Ending December 31, Debt Maturities (In thousands) 2016 $ 124,746 2017 63,396 2018 130,541 2019 417 2020 302 Thereafter 300,237 Total $ 619,639

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Loss 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 years ended December 31, 2015, 2014 and 2013 : Year Ended December 31, (In thousands, except per share amounts) 2015 2014 2013 NUMERATOR Net income $ 51,763 $ 50,789 $ 151,423 Preferred stock dividends (4,875 ) (4,875 ) (3,656 ) Excess of fair value over book value of preferred shares redeemed — — (2,190 ) Net income available to common shareholders 46,888 45,914 145,577 Interest on 3.25% convertible senior subordinated notes due 2017 1,499 1,504 2,443 Interest on 3.00% convertible senior subordinated notes due 2018 2,021 2,030 2,675 Diluted income available to common shareholders $ 50,408 $ 49,448 $ 150,695 DENOMINATOR Basic weighted average shares outstanding 24,575 24,463 23,822 Effect of dilutive securities: Stock option awards 237 222 237 Deferred compensation awards 150 142 123 3.25% convertible senior subordinated notes due 2017 2,416 2,416 2,416 3.00% convertible senior subordinated notes due 2018 2,669 2,669 2,165 Diluted weighted average shares outstanding - adjusted for assumed conversions 30,047 29,912 28,763 Earnings per common share Basic $ 1.91 $ 1.88 $ 6.11 Diluted $ 1.68 $ 1.65 $ 5.24 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share 1,447 1,250 963

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The tax effects of the significant temporary differences that comprise the deferred tax assets and liabilities are as follows: December 31, (In thousands) 2015 2014 Deferred tax assets: Warranty, insurance and other accruals $ 14,460 $ 13,155 Inventory 9,528 11,049 State taxes 211 175 Net operating loss carryforward 42,556 69,946 Deferred charges 649 1,711 Total deferred tax assets $ 67,404 $ 96,036 Deferred tax liabilities: Federal effect of state deferred taxes $ 5,519 $ — Depreciation — 1,191 Prepaid expenses — 433 Total deferred tax liabilities $ 5,519 $ 1,624 Net deferred tax asset, net of valuation allowance $ 61,885 $ 94,412
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The provision (benefit) from income taxes consists of the following: Year Ended December 31, (In thousands) 2015 2014 2013 Current: Federal $ 1,757 $ 1,766 $ 2 State 883 681 821 $ 2,640 $ 2,447 $ 823 Year Ended December 31, (In thousands) 2015 2014 2013 Deferred: Federal $ 28,760 $ 22,141 $ (102,830 ) State 3,766 (5,641 ) (8,081 ) $ 32,526 $ 16,500 $ (110,911 ) Total $ 35,166 $ 18,947 $ (110,088 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Reconciliation of the differences between income taxes computed at the federal statutory tax rate and consolidated benefit from income taxes are as follows: Year Ended December 31, (In thousands) 2015 2014 2013 Federal taxes at statutory rate $ 30,425 $ 24,407 $ 14,467 State and local taxes – net of federal tax benefit 2,820 2,199 534 Change in valuation allowance — (9,291 ) (126,458 ) Change in state NOL deferred asset – net of federal tax benefit 1,548 1,780 853 Other 373 (148 ) 516 Total $ 35,166 $ 18,947 $ (110,088 )

Business Segments Business Segm

Business Segments Business Segments (Tables)	12 Months Ended
	Dec. 31, 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 2015, 2014 and 2013 , as well as the Company’s income before income taxes for such periods: Year Ended December 31, (In thousands) 2015 2014 2013 Revenue: Midwest homebuilding $ 500,873 $ 426,090 $ 336,242 Southern homebuilding 514,747 420,901 324,436 Mid-Atlantic homebuilding 366,800 338,067 347,565 Financial services (a) 35,975 30,122 28,539 Total revenue $ 1,418,395 $ 1,215,180 $ 1,036,782 Operating income: Midwest homebuilding $ 51,436 $ 37,484 $ 21,469 Southern homebuilding 47,276 34,341 23,653 Mid-Atlantic homebuilding 25,144 27,502 27,297 Financial services (a) 21,032 15,616 15,798 Less: Corporate selling, general and administrative expenses (33,094 ) (32,189 ) (29,524 ) Total operating income (b) $ 111,794 $ 82,754 $ 58,693 Interest expense: Midwest homebuilding $ 4,005 $ 3,001 $ 4,923 Southern homebuilding 7,244 5,445 6,142 Mid-Atlantic homebuilding 4,656 3,480 3,491 Financial services (a) 1,616 1,439 1,382 Total interest expense $ 17,521 $ 13,365 $ 15,938 Equity in income of unconsolidated joint ventures $ (498 ) $ (347 ) $ (306 ) Loss on early extinguishment of debt 7,842 — 1,726 Income before income taxes $ 86,929 $ 69,736 $ 41,335 Depreciation and amortization: Midwest homebuilding $ 1,614 $ 1,277 $ 1,063 Southern homebuilding 2,069 1,584 1,230 Mid-Atlantic homebuilding 1,464 970 995 Financial services 1,213 201 138 Corporate 4,568 4,264 4,885 Total depreciation and amortization $ 10,928 $ 8,296 $ 8,311 (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 years ended December 31, 2015, 2014 and 2013 , total operating income was reduced by $3.6 million , $3.5 million and $5.8 million , respectively, related to impairment charges taken during the period. The following tables show total assets by segment at December 31, 2015 and 2014 : December 31, 2015 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,379 $ 16,128 $ 4,203 $ — $ 23,710 Inventory (a) 368,748 416,443 303,141 — 1,088,332 Investments in unconsolidated joint ventures 5,976 30,991 — — 36,967 Other assets 10,018 23,704 7,253 225,570 266,545 Total assets $ 388,121 $ 487,266 $ 314,597 $ 225,570 $ 1,415,554 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 (b) 7,933 16,829 7,536 226,583 258,881 Total assets $ 317,307 $ 389,524 $ 271,825 $ 226,583 $ 1,205,239 (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. (b) Due to our election to early adopt ASU 2015-03, Corporate, Financial Services, and Unallocated Other assets for the year ended December 31, 2014 has been adjusted by $6.2 million to apply the new method retrospectively.

Supplemental Guarantor Inform36

Supplemental Guarantor Information Supplemental Guarantor Information (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Guarantor Information [Abstract]
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF INCOME Year Ended December 31, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,382,420 $ 35,975 $ — $ 1,418,395 Costs and expenses: Land and housing — 1,114,663 — — 1,114,663 Impairment of inventory and investment in unconsolidated joint ventures — 3,638 — — 3,638 General and administrative — 77,662 15,546 — 93,208 Selling — 95,092 — — 95,092 Equity in income of unconsolidated joint ventures — — (498 ) — (498 ) Interest — 15,905 1,616 — 17,521 Loss on early extinguishment of debt — 7,842 — — 7,842 Total costs and expenses — 1,314,802 16,664 — 1,331,466 Income before income taxes — 67,618 19,311 — 86,929 Provision for income taxes — 28,758 6,408 — 35,166 Equity in subsidiaries 51,763 — — (51,763 ) — Net income $ 51,763 $ 38,860 $ 12,903 $ (51,763 ) $ 51,763 Preferred dividends 4,875 — — — 4,875 Net income to common shareholders $ 46,888 $ 38,860 $ 12,903 $ (51,763 ) $ 46,888 CONDENSED CONSOLIDATING STATEMENTS OF INCOME Year Ended December 31, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,185,058 $ 30,122 $ — $ 1,215,180 Costs and expenses: Land and housing — 958,991 — — 958,991 Impairment of inventory and investment in unconsolidated joint ventures — 3,457 — — 3,457 General and administrative — 73,747 15,083 — 88,830 Selling — 81,148 — — 81,148 Equity in income of unconsolidated joint ventures — — (347 ) — (347 ) Interest — 11,926 1,439 — 13,365 Total costs and expenses — 1,129,269 16,175 — 1,145,444 Income before income taxes — 55,789 13,947 — 69,736 Provision for income taxes — 14,341 4,606 — 18,947 Equity in subsidiaries 50,789 — — (50,789 ) — Net income $ 50,789 $ 41,448 $ 9,341 $ (50,789 ) $ 50,789 Preferred dividends 4,875 — — — 4,875 Net income to common shareholders $ 45,914 $ 41,448 $ 9,341 $ (50,789 ) $ 45,914 Year Ended December 31, 2013 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,008,243 $ 28,539 $ — $ 1,036,782 Costs and expenses: Land and housing — 824,508 — — 824,508 Impairment of inventory and investment in unconsolidated joint ventures — 5,805 — — 5,805 General and administrative — 66,249 13,245 — 79,494 Selling — 68,209 73 — 68,282 Equity in income of unconsolidated joint ventures — — (306 ) — (306 ) Interest — 14,556 1,382 — 15,938 Loss on early extinguishment of debt — 1,726 — — 1,726 Total costs and expenses — 981,053 14,394 — 995,447 Income before income taxes — 27,190 14,145 — 41,335 (Benefit) provision for income taxes — (114,866 ) 4,778 — (110,088 ) Equity in subsidiaries 151,423 — — (151,423 ) — Net income $ 151,423 $ 142,056 $ 9,367 $ (151,423 ) $ 151,423 Preferred dividends 3,656 — — — 3,656 Excess of fair value over book value of preferred shares redeemed 2,190 — — — 2,190 Net income to common shareholders $ 145,577 $ 142,056 $ 9,367 $ (151,423 ) $ 145,577
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]	CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash and cash equivalents $ — $ — $ 18,156 $ (7,951 ) $ 10,205 Restricted cash — 2,896 — — 2,896 Mortgage loans held for sale — — 127,001 — 127,001 Inventory — 1,112,042 — — 1,112,042 Property and equipment - net — 12,222 675 — 12,897 Investment in unconsolidated joint ventures — 17,425 19,542 — 36,967 Investment in subsidiaries 621,052 — — (621,052 ) — Deferred income taxes, net of valuation allowances — 67,255 149 — 67,404 Intercompany assets 408,847 — — (408,847 ) — Other assets 2,626 32,335 11,181 — 46,142 TOTAL ASSETS $ 1,032,525 $ 1,244,175 $ 176,704 $ (1,037,850 ) $ 1,415,554 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 94,554 $ 275 $ (7,951 ) $ 86,878 Customer deposits — 19,567 — — 19,567 Intercompany liabilities — 387,439 21,408 (408,847 ) — Other liabilities — 88,550 5,120 — 93,670 Community development district obligations — 1,018 — — 1,018 Obligation for consolidated inventory not owned — 6,007 — — 6,007 Notes payable bank - homebuilding operations — 43,800 — — 43,800 Notes payable bank - financial services operations — — 123,648 — 123,648 Notes payable - other — 8,441 — — 8,441 Convertible senior subordinated notes due 2017 56,518 — — — 56,518 Convertible senior subordinated notes due 2018 84,714 — — — 84,714 Senior notes 294,727 — — — 294,727 TOTAL LIABILITIES 435,959 649,376 150,451 (416,798 ) 818,988 Shareholders’ equity 596,566 594,799 26,253 (621,052 ) 596,566 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,032,525 $ 1,244,175 $ 176,704 $ (1,037,850 ) $ 1,415,554 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 Investment in subsidiaries 576,468 — — (576,468 ) — Deferred income taxes, net of valuation allowances — 94,088 324 — 94,412 Intercompany assets 330,786 — — (330,786 ) — Other assets (1) 3,089 24,378 10,232 — 37,699 TOTAL ASSETS $ 910,343 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,205,239 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 (1) 55,943 — — — 55,943 Convertible senior subordinated notes due 2018 (1) 84,006 — — — 84,006 Senior notes (1) 226,099 — — — 226,099 TOTAL LIABILITIES 366,048 518,159 107,523 (330,786 ) 660,944 Shareholders’ equity 544,295 555,941 20,527 (576,468 ) 544,295 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 910,343 $ 1,074,100 $ 128,050 $ (907,254 ) $ 1,205,239
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2015 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 7,178 $ (58,566 ) $ (23,593 ) $ (7,178 ) $ (82,159 ) CASH FLOWS FROM INVESTING ACTIVITIES: Restricted cash — 3,849 — — 3,849 Purchase of property and equipment — (3,156 ) (503 ) — (3,659 ) Acquisition, net of cash acquired — (23,950 ) — — (23,950 ) Net proceeds from the sale of mortgage servicing rights — — 3,065 — 3,065 Intercompany investing (3,338 ) 3,338 — Investments in and advances to unconsolidated joint ventures — (8,087 ) (10,075 ) — (18,162 ) Return of capital from unconsolidated joint ventures — — 1,226 — 1,226 Net cash (used in) provided by investing activities (3,338 ) (31,344 ) (6,287 ) 3,338 (37,631 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of senior notes — (226,874 ) — — (226,874 ) Proceeds from issuance of senior notes — 300,000 — — 300,000 Proceeds from bank borrowings - homebuilding operations — 417,300 — — 417,300 Principal repayments of bank borrowings - homebuilding operations — (403,500 ) — — (403,500 ) Net proceeds from bank borrowings - financial services operations — — 38,269 — 38,269 Principal proceeds from notes payable - other and CDD bond obligations — (1,077 ) — — (1,077 ) Dividends paid (4,875 ) — (7,178 ) 7,178 (4,875 ) Intercompany financing — 5,929 5,360 (11,289 ) — Debt issue costs — (5,740 ) (78 ) — (5,818 ) Proceeds from exercise of stock options 1,035 — — — 1,035 Net cash (used in) provided by financing activities (3,840 ) 86,038 36,373 (4,111 ) 114,460 Net decrease in cash and cash equivalents — (3,872 ) 6,493 (7,951 ) (5,330 ) Cash and cash equivalents balance at beginning of period — 3,872 11,663 — 15,535 Cash and cash equivalents balance at end of period $ — $ — $ 18,156 $ (7,951 ) $ 10,205 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2014 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 10,200 $ (143,672 ) $ 10,997 $ (10,200 ) $ (132,675 ) CASH FLOWS FROM INVESTING ACTIVITIES: Restricted cash — 7,122 — — 7,122 Purchase of property and equipment — (2,793 ) (153 ) — (2,946 ) Intercompany investing (7,269 ) — — 7,269 — Investments in and advances to unconsolidated joint ventures — (14,435 ) (5,980 ) — (20,415 ) Return of capital from unconsolidated joint ventures — 275 1,248 — 1,523 Net proceeds from the sale of mortgage servicing rights — — 2,135 — 2,135 Net cash (used in) provided by investing activities (7,269 ) (9,831 ) (2,750 ) 7,269 (12,581 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 192,600 — — 192,600 Principal repayments of bank borrowings - homebuilding operations — (162,600 ) — — (162,600 ) Net proceeds from bank borrowings - financial services operations — — 5,350 — 5,350 Principal repayments of notes payable - other and CDD bond obligations — 1,728 — — 1,728 Dividends paid (4,875 ) — (10,200 ) 10,200 (4,875 ) Intercompany financing — 14,244 (6,975 ) (7,269 ) — Debt issue costs — (2,004 ) (77 ) — (2,081 ) Proceeds from exercise of stock options 1,944 — — — 1,944 Net cash (used in) provided by financing activities (2,931 ) 43,968 (11,902 ) 2,931 32,066 Net decrease in cash and cash equivalents — (109,535 ) (3,655 ) — (113,190 ) Cash and cash equivalents balance at beginning of period — 113,407 15,318 — 128,725 Cash and cash equivalents balance at end of period $ — $ 3,872 $ 11,663 $ — $ 15,535 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Year Ended December 31, 2013 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 7,100 $ (72,633 ) $ (1,341 ) $ (7,100 ) $ (73,974 ) CASH FLOWS FROM INVESTING ACTIVITIES: Restricted cash — (5,185 ) — — (5,185 ) Purchase of property and equipment — (2,146 ) (236 ) — (2,382 ) Investments in and advances to unconsolidated joint ventures — (13,525 ) (15,984 ) — (29,509 ) Return of capital from unconsolidated joint ventures — — 1,522 — 1,522 Net cash used in investing activities — (20,856 ) (14,698 ) — (35,554 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of convertible senior subordinated notes due 2018 86,250 — — — 86,250 Proceeds from issuance of common shares 54,617 — — — 54,617 Redemption of preferred shares (50,352 ) — — — (50,352 ) Net proceeds from bank borrowings - financial services operations — — 12,072 — 12,072 Principal proceeds from note payable - other and CDD bond obligations — (3,315 ) — — (3,315 ) Dividends paid (3,656 ) — (7,100 ) 7,100 (3,656 ) Intercompany financing (96,599 ) 89,279 7,320 — — Debt issue costs — (5,402 ) (99 ) — (5,501 ) Proceeds from exercise of stock options 2,640 — — — 2,640 Net cash (used in) provided by financing activities (7,100 ) 80,562 12,193 7,100 92,755 Net increase in cash and cash equivalents — (12,927 ) (3,846 ) — (16,773 ) Cash and cash equivalents balance at beginning of period — 126,334 19,164 — 145,498 Cash and cash equivalents balance at end of period $ — $ 113,407 $ 15,318 $ — $ 128,725

Supplementary Financial Data Su

Supplementary Financial Data Supplementary Financial Data (Tables)	12 Months Ended
	Dec. 31, 2015
Supplementary Financial Data [Abstract]
Supplemental Financial Data [Table Text Block]	The following tables set forth our selected consolidated financial and operating data for the quarterly periods indicated. December 31, 2015 September 30, 2015 June 30, March 31, 2015 (In thousands, except per share amounts) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 468,923 $ 363,457 $ 322,856 $ 263,159 Gross margin $ 94,816 $ 78,041 $ 70,261 $ 56,976 Net income to common shareholders $ 12,056 $ 14,352 $ 12,131 $ 8,349 Earnings per common share: Basic $ 0.49 $ 0.58 $ 0.49 $ 0.34 Diluted $ 0.43 $ 0.51 $ 0.43 $ 0.31 Weighted average common shares outstanding: Basic 24,649 24,605 24,531 24,514 Diluted 30,107 30,067 30,023 29,975 December 31, 2014 September 30, 2014 June 30, March 31, (In thousands, except per share amounts) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 367,964 $ 330,767 $ 281,608 $ 234,841 Gross margin $ 73,759 $ 68,509 $ 59,587 $ 50,877 Net income to common shareholders $ 9,767 $ 12,399 $ 12,335 $ 11,413 Earnings per common share: Basic $ 0.40 $ 0.51 $ 0.50 $ 0.47 Diluted $ 0.36 $ 0.44 $ 0.44 $ 0.41 Weighted average common shares outstanding: Basic 24,489 24,474 24,470 24,417 Diluted 29,944 29,921 29,913 29,870

Summary of Significant Accoun38

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Assumption Duration [Line Items]
Number of Operating Segments	14
Cash in Transit	$ 8,400	$ 7,500
Financial Services Cash	18,200	11,700
Restricted Cash and Cash Equivalents	2,896	6,951
Investment in unconsolidated joint ventures	36,967	27,769
Notes Receivable, Related Parties	2,500
Outstanding Deposits On Land and Lots	36,433
Land purchase deposits	23,710	23,495
Prepaid Land Acquisition Costs	4,144
Outstanding Letters of Credit in Lieu of Cash Deposits under Certain Land Option Contracts	6,503
Short-term Non-bank Loans and Notes Payable	2,100
Consolidated inventory not owned	6,007	779
Obligation for consolidated inventory not owned	6,007	608
Notes receivable	3,153	4,288
Debt Instrument, Unamortized Discount	$ 2,600	$ 3,100
Number of loans we retain mortgage servicing rights on	2,818	2,517
Servicing Asset at Fair Value, Period Increase (Decrease)	$ 7,500	$ 6,876
Letters of Credit and Bonds	144,058
Outstanding Performance Bonds	94,250
Performance letters of credit outstanding	30,129
Financial Letters of Credit	12,374
Financial Bonds	$ 7,305
Minimum [Member]
Assumption Duration [Line Items]
Discount Rate Used in Determining Fair Value of land/lots	13.00%
Interest Rate Notes Receivable	0.00%	0.00%
Maximum [Member]
Assumption Duration [Line Items]
Discount Rate Used in Determining Fair Value of land/lots	16.00%
Interest Rate Notes Receivable	2.00%	12.00%

Capitalized Interest Rollfoward

Capitalized Interest Rollfoward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Real Estate Inventory, Capitalized Interest Costs	$ 15,296	$ 13,802	$ 15,376
Interest capitalized to inventory	18,410	17,937	13,601
Capitalized interest charged to cost of sales	(16,966)	(16,443)	(15,175)
Real Estate Inventory, Capitalized Interest Costs	16,740	15,296	13,802
Interest incurred	$ 35,931	$ 31,302	$ 29,539

Summary of Significant Accoun40

Summary of Significant Accounting Policies Variable interest entities and unconsolidated joint ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]
Increase (decrease) in investments in unconsolidated joint ventures and other similar arrangements	$ 9,198
Investment in unconsolidated joint ventures	36,967	$ 27,769
Distribution of single-family lots from unconsolidated LLC's	8,236	25,689	$ 4,800
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 18,162	$ 20,415	$ 29,509
Minimum [Member]
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	25.00%	25.00%
Maximum [Member]
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	74.00%	61.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 37,601	$ 36,260
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(24,704)	(24,771)
Property, Plant and Equipment, Net	12,897	11,490
Depreciation Expense	2,300	1,959	$ 2,221
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	11,823	11,823
Office furnishings, leasehold improvements, computer equipment and computer software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	25,676	24,281
Transportation and construction equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 102	$ 156

Estimated Useful Life (Details)

Estimated Useful Life (Details)	12 Months Ended
	Dec. 31, 2015
Building and improvements
Property, Plant and Equipment, Estimated Useful Lives	35 years
Office furnishings, leasehold improvements, computer equipment and computer software
Property, Plant and Equipment, Estimated Useful Lives	3-7 years
Transportation and construction equipment
Property, Plant and Equipment, Estimated Useful Lives	5-7 years

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Standard Product Warranty Accrual	$ 14.3	$ 12.7
Guarantor and Indemnifications included in Other Liabilities	$ 1.4	$ 3.1

Self-Insurance (Details)

Self-Insurance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
General Liability Insurance Deductible	$ 7,500
Aggregate General Liability Deductible	22,000
Self Insurance Reserve	1,600	$ 1,300
General Insurance Expense	6,100	$ 7,800	$ 5,400
Employee Health Care [Member]
Self-Insurance Limit	250
Employee Health Care Limit / Stop Loss coverage [Member]
Self-Insurance Limit	250
Workers Compensation Deductible [Member]
Workers Compensation	250
Maximum Incurred Losses not to Exceed - Ohio [Member]
Workers Compensation	500
Deductible for all other types of claims [Member]
General Liability Insurance Deductible	$ 500

Summary of Significant Accoun45

Summary of Significant Accounting Policies Changes in accounting principles (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	$ 46,142	$ 37,699
TOTAL ASSETS	1,415,554	1,205,239
Convertible senior subordinated notes due 2017 - net	56,518	55,943
Convertible senior subordinated notes due 2018 - net	84,714	84,006
Senior notes - net	294,727	226,099
Liabilities	818,988	660,944
Accounting Standards Update 201503 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		37,699
TOTAL ASSETS		1,205,239
Convertible senior subordinated notes due 2017 - net		55,943
Convertible senior subordinated notes due 2018 - net		84,006
Senior notes - net		226,099
Liabilities		660,944
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		43,870
TOTAL ASSETS		1,211,410
Convertible senior subordinated notes due 2017 - net		57,500
Convertible senior subordinated notes due 2018 - net		86,250
Senior notes - net		228,469
Liabilities		667,115
Scenario, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	$ (7,800)	(6,171)
TOTAL ASSETS		(6,171)
Convertible senior subordinated notes due 2017 - net		(1,557)
Convertible senior subordinated notes due 2018 - net		(2,244)
Senior notes - net		(2,370)
Liabilities		$ (6,171)

Stock Based Compensation Summar

Stock Based Compensation Summary of Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	2,108,628	2,016,368
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	386,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(72,640)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	221,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	2,084,208
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	1,453,728
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 22.21	$ 24.47
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	21.28
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	14.24
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	43.78
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	22.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 22.19
Weighted Average Remaining Contractual Term [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 9 months 29 days	5 years 8 months 15 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	5 years 8 months 19 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 7 months 24 days
Aggregate Intrinsic Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 6,300,000	$ 7,470,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	6,544,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 5,884,000

Stock Based Compensation Fair V

Stock Based Compensation Fair Value Assumptions for Stock Options (Details) - Five Year Service Stock Options [Member] - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Risk-free interest rate	1.72%	1.75%	0.88%
Expected volatility	56.37%	57.99%	56.70%
Expected term (in years)	5 years 7 months 6 days	5 years 6 months 30 days	5 years 6 months
Weighted average grant date fair value of options granted during the period	$ 11.07	$ 12.64	$ 11.97

Stock Based Compensation Stock

Stock Based Compensation Stock Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	2,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	982,389
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value	$ 700	$ 1,600	$ 2,200
Allocated Share-based Compensation Expense	3,200	$ 2,700	$ 2,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 7,900
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	2 years 19 days
Stock Units Awarded Under the 2009 LTIP Plan	15,000	17,500	10,500
Value of Stock Units Awarded Under the 2009 LTIP Plan	$ 300	$ 400	$ 300
Total Numbner of Units Outstanding Under the 2006 Director Equity Plan	8,059
Value of Units Outstanding Under the 2006 Director Equity Plan	$ 200
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	300	400	400
Stock or Unit Option Plan Expense	$ 0	$ 200	$ 300
Total Stock Units Outstanding Under All Stock Option Plans	47,982
Total Value of Units Outstanding Under All Stock Option Plans	$ 1,200
Deferred Compensation Equity	1,500
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits	$ 1,100

Stock Based Compensation Profit

Stock Based Compensation Profit Sharing Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Plan, Contributions by Employer	$ 1.2	$ 1	$ 0.8

Stock Based Compensation Perfor

Stock Based Compensation Performance share units (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage weight of PSUs related to performance condition	80.00%
Percentage weight of PSUs related to market condition	20.00%
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 7,900,000
Market Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred Compensation Arrangement with Individual, Allocated Share-based Compensation Expense	100,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 200,000
2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	56,389
2015 [Member] | Performance Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 21.28
Compensation expense to be recognized over 3-year period at Minimum level	500,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	200,000
2015 [Member] | Market Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	18.92
2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		50,439
2014 [Member] | Performance Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 23.79
Deferred Compensation Arrangement with Individual, Allocated Share-based Compensation Expense	300,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 200,000
2014 [Member] | Market Condition Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 21

Fair Value Measurements Notiona

Fair Value Measurements Notional Amount of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Notional Disclosures [Abstract]
Best efforts contracts and related committed IRLCs	$ 2,625	$ 3,072
Uncommitted IRLCs	46,339	28,028
FMBSs related to uncommitted IRLCs	46,000	41,000
Best efforts contracts and related mortgage loans held for sale	100,152	61,233
FMBSs related to mortgage loans held for sale	27,000	27,000
Mortgage loans held for sale covered by FMBSs	$ 26,690	$ 26,825

Fair Value Measurements Assets

Fair Value Measurements Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 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	$ 127,023	$ 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	127,023	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	127,001	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	127,001	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	(93)	(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	(93)	(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	321	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	321	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	(206)	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	(206)	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	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	$ (727)	$ 2,445	$ (1,440)
Mortgage Loans Held for Sale [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	(590)	3,191	(2,094)
Forward Sales or Mortgage Backed Securities [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	89	(927)	492
Interest Rate Lock Commitments [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	32	607	(320)
Best Efforts Contracts [Member]
Financial Instrument [Line Items]
(Loss) Gain On Assets and Liabilities Measured On A Recurring Basis	$ (258)	$ (426)	$ 482

Fair Value Measurements Balance

Fair Value Measurements Balance Sheet Location of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	$ 321	$ 346
Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	299	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	93	182
Interest Rate Lock Commitments [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	321	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	$ 206	$ 5

Fair Value Measurements Asset55

Fair Value Measurements Assets and Liabilities Measured on a Non-Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation adjustments to investments in unconsolidated joint ventures	$ 0	$ 1,047	$ 0
Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Adjusted basis of inventory	11,885	3,730	5,494
Total losses	3,638	3,457	5,805
Initial basis of inventory	$ 15,523	$ 7,187	$ 11,299

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS:
Notes receivable	$ 3,153	$ 4,288
Carrying (Reported) Amount, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	13,101	22,486
Mortgage loans held for sale	127,001	92,794
Split dollar life insurance policies	199	187
Notes receivable	3,153	4,288
Commitments to extend real estate loans	321	289
Best Efforts Contracts for Committed Interest Rate Lock Commitments and Mortgage Loans Held for Sale - Fair Value Disclosures (Assets)	0	58
LIABILITIES:
Notes Payable - Homebuilding Fair Value Disclosure	43,800	30,000
Notes Payable - Financial Services Fair Value Disclosure	123,648	85,379
Notes payable - other	8,441	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	300,000	228,469
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	206	0
Forward sales of mortgage-backed securities	93	182
Fair Value Disclosure, Off-balance Sheet Risks, Carying Value, Liability - Letters of Credit	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	13,101	22,486
Mortgage loans held for sale	127,001	92,794
Split dollar life insurance policies	199	187
Notes receivable	3,076	3,793
Commitments to extend real estate loans	321	289
Best Efforts Contracts for Committed Interest Rate Lock Commitments and Mortgage Loans Held for Sale - Fair Value Disclosures (Assets)	0	58
LIABILITIES:
Notes Payable - Homebuilding Fair Value Disclosure	43,800	30,000
Notes Payable - Financial Services Fair Value Disclosure	123,648	85,379
Notes payable - other	8,039	9,089
Convertible senior subordinated notes due 2017 - Fair Value Disclosure	61,884	67,634
Convertible senior subordinated notes due 2018 - Fair Value Disclosure	84,741	87,544
Senior notes	295,500	239,488
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	206	0
Forward sales of mortgage-backed securities	93	182
Fair Value Disclosure, Off-balance Sheet Risks, Fair Value, Liability - Letters of credit	$ 735	$ 881

Fair Value Measurements Fair 57

Fair Value Measurements Fair Value of Financial Instrument Assumptions (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value of Financial Instrument Assumptions [Line Items]
Letters of Credit Potential Commitments, Amount	$ 42,503	$ 33,626
First Amendment to New Unsecured Credit Facility [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	400,000
Warehousing Agreement - Fourth Amendment to Amended and Restated [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	110,000
Amendment No. 1 to Amended and Restated Repurchase Agreement [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 15,000

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory [Abstract]
Single-family lots, land and land development costs	$ 584,542	$ 463,198
Land held for sale	12,630	10,647
Homes under construction	420,206	371,119
Model homes and furnishings - at cost (less accumulated depreciation: December 31, 2015 - $8,296; December 31, 2014 - $7,010)	63,929	46,780
Community development district infrastructure	1,018	2,571
Land purchase deposits	23,710	23,495
Consolidated inventory not owned	6,007	779
Total inventory	$ 1,112,042	$ 918,589

Inventory Model Home Accumulate

Inventory Model Home Accumulated Depreciation - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Parantheticals - Inventory [Abstract]
Model Home Accumulated Depreciation	$ 8,296	$ 7,010

Inventory Other Inventory Items

Inventory Other Inventory Items - Homes under construction not subject to a sale contract (Details) $ in Millions	Dec. 31, 2015USD ($)homes	Dec. 31, 2014USD ($)homes
Other Inventory, Gross [Abstract]
Number of Speculative Homes | homes	872	979
Speculative Homes Carrying Value | $	$ 184.3	$ 186.7

Transactions with Related Par61

Transactions with Related Parties Transactions with Related Parties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 600
Notes Receivable, Related Parties	$ 2,500

Investment in Unconsolidated 62

Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment in Unconsolidated LLCs [Abstract]
Maximum exposure related to investments in unconsolidated joint ventures or similar arrangements	$ 39,467
Investment in unconsolidated joint ventures	36,967	$ 27,769
Notes Receivable, Related Parties	2,500
Capitalized interest and other costs included in investment in Unconsolidated Joint Ventures	$ 411	$ 245

Investment in Unconsolidated 63

Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures Balance Sheet Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Single-family lots, land and land development costs (a) (b)	$ 53,754	$ 49,987
Other assets	5,499	2,917
Total assets	59,253	52,904
Notes payable	7,025	12,153
Other liabilities	2,190	2,887
Total liabilities	9,215	15,040
Company’s equity (a) (b)	24,367	18,728
Other equity	25,671	19,136
Total partners’ equity	50,038	37,864
Total liabilities and partners’ equity	59,253	52,904
Reduction of impairment relating to unconsolidated joint ventures	4,825	5,992
Company's investment in joint development or similar agreements	$ 17,425	$ 15,033

Investment in Unconsolidated 64

Investment in Unconsolidated Joint Ventures Investment in Unconsolidated Joint Ventures Income Statement Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]
Revenue	$ 5,800	$ 2,424	$ 2,909
Costs and expenses	3,527	1,147	1,763
Income (loss)	2,273	1,277	1,146
Equity in Income (loss) from unconsolidated joint ventures	$ 499	$ 347	$ 347

Guarantees and Indemnificatio65

Guarantees and Indemnifications Warranty Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Warranty Reserve Rollforward [Abstract]
Warranty reserves, beginning of period	$ 12,671	$ 12,291	$ 10,438
Warranty expense on homes delivered during the period	8,812	7,311	7,023
Changes in estimates for pre-existing warranties	5,160	5,223	2,394
Settlements made during the period	(12,361)	(12,154)	(7,564)
Warranty reserves, end of period	$ 14,282	$ 12,671	$ 12,291

Guarantees and Indemnificatio66

Guarantees and Indemnifications Guarantees (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Guarantees [Abstract]
Total of Loans Covered by Guarantees	$ 12,187	$ 33,440
Total of Guaranteed Loans Inquired About	1,300	9,100
Total Loans Indemnified to third parties	2,200	2,000
Loan Repurchase Guarantee Liability	$ 1,175	$ 2,900

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies [Abstract]
Letters of Credit and Completion Bonds	$ 144,058
Outstanding Performance and Maintenance Bonds	94,250
Performance letters of credit outstanding	30,129
Financial Letters of Credit	12,374
Financial Letters of Credit representing deposits on land and lot purchase agreements	6,503
Financial Bonds	7,305
Unrecorded Conditional Purchase Obligation	$ 513,234

Commitments and Contingencies L

Commitments and Contingencies Legal (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Legal Liabilities Disclosure [Abstract]
Amount Reserved for Legal Expenses	$ 0.6	$ 0.2

Lease Commitments Lease Commitm

Lease Commitments Lease Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Lease Commitments [Abstract]
Operating Leases, Future Minimum Payments Due	$ 13
Operating Leases, Future Minimum Payments Due, Next Twelve Months	4.1
Operating Leases, Future Minimum Payments, Due in Two Years	3.3
Operating Leases, Future Minimum Payments, Due in Three Years	2.2
Operating Leases, Future Minimum Payments, Due in Four Years	1.3
Operating Leases, Future Minimum Payments, Due in Five Years	0.8
Operating Leases, Future Minimum Payments, Due Thereafter	1.3
Operating Leases, Rent Expense, Net	$ 5.3	$ 4.7	$ 3.7

Community Development Distric70

Community Development District Infrastructure and Related Obligations Community Development District Infrastructure and Related Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Long Term CDDs issued and outstanding [Line Items]
CDDs Principal Amount	$ 13,517	$ 14,787
Community development district obligations	$ 1,018	2,571
CDD due 12/1/2022 [Member]
Long Term CDDs issued and outstanding [Line Items]
CDDs, Issuance Date	Jul. 15, 2004
CDDs, Maturity Date	Dec. 1, 2022
CDDs, Percentage Interest	6.00%
CDDs Principal Amount	$ 2,922	2,922
CDD due 12/1/2036 [Member]
Long Term CDDs issued and outstanding [Line Items]
CDDs, Issuance Date	Jul. 15, 2004
CDDs, Maturity Date	Dec. 1, 2036
CDDs, Percentage Interest	6.25%
CDDs Principal Amount	$ 10,060	10,060
CDD due 11/1/2045 [Member]
Long Term CDDs issued and outstanding [Line Items]
CDDs, Issuance Date	Jul. 22, 2014
CDDs, Maturity Date	Nov. 1, 2045
CDDs, Percentage Interest	5.28%
CDDs Principal Amount	$ 535	$ 1,805

Debt Debt (Details)

Debt Debt (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Expiration Date	Oct. 20, 2018
Minimum Tangible Net Worth	$ 383,200
Leverage ratio	60.00%
Notes payable bank - homebuilding operations	$ 43,800	$ 30,000
Debt Instrument, Unused Borrowing Capacity, Amount	437,180
letters of credit outstanding under credit facility	39,805
Maximum borrowing availability subject to limit	$ 316,400
Number of Secured Letters of Credit Outstanding under Credit Facility	3
Letters of Credit Outstanding Under Letter of Credit Facilities	$ 2,698	6,456
Aggregate Capacity of Secured Letters of Credit under Credit Facility	12,000
Uncommitted Letters of Credit	4,900
Restricted Cash for Secured Letter of Credit Agreements	2,741	6,590
Senior notes - net	294,727	$ 226,099
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]
Homebuilding Line of Credit Facility, Current Borrowing Capacity	300,000
Sub-limit for letters of credit	125,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 400,000
Minimum [Member] | First Amendment to New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	175
Maximum [Member] | First Amendment to New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	275
Consolidated EBITDA [Member]
Line of Credit Facility [Line Items]
Interest Coverage Ratio	1.50
Consolidated Interest Incurred [Member]
Line of Credit Facility [Line Items]
Interest Coverage Ratio	1
2018 Convertible Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Convertible Subordinated Debt	$ 86,250
2021 Senior Notes [Member]
Line of Credit Facility [Line Items]
Senior notes - net	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%
2017 Convertible Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Convertible Subordinated Debt	$ 57,500

Debt MIF Warehousing Agreement

Debt MIF Warehousing Agreement (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Maximum Borrowing Availability under all Credit Lines	$ 150,000	$ 125,000
Notes payable bank - financial services operations	123,648	$ 85,379
Warehousing Agreement - Fourth Amendment to Amended and Restated [Member]
Line of Credit Facility [Line Items]
M/I Financial Maximum Borrowing Capacity	110,000
Optional increase in borrowing availability	20,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	130,000
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	2.75%
Amendment No. 1 to Amended and Restated Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 15,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 20,000
Minimum [Member] | Amendment No. 1 to Amended and Restated Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
LIBOR basis points	250
Maximum [Member] | Amendment No. 1 to Amended and Restated Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
LIBOR basis points	275

Debt Senior Notes (Details)

Debt Senior Notes (Details) $ / shares in Units, shares in Millions	12 Months Ended
	Jan. 15, 2021	Jan. 14, 2020	Jan. 14, 2019	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Senior notes				$ 294,727,000	$ 226,099,000
Preferred Stock, Dividend Rate, Percentage				9.75%
Restricted Payments Basket				$ 128,550,000
2018 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior subordinated notes				$ 86,250,000
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
Debt Instrument, Interest Rate, Stated Percentage				3.00%
2017 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior subordinated notes				$ 57,500,000
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
Debt Instrument, Interest Rate, Stated Percentage				3.25%
2018 Senior Notes [Member]
Debt Instrument [Line Items]
Early Repayment of Senior Debt				$ 237,500,000
Loss on early extinguishment of debt, including transaction costs				5,000,000
Interest Paid				2,500,000
Amortization of Debt Discount (Premium)				1,100,000
Write off of Deferred Debt Issuance Cost				$ 1,800,000
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.75%
Senior notes				$ 300,000,000
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	100.00%	101.688%	103.375%
Face value [Member] | 2018 Senior Notes [Member]
Debt Instrument [Line Items]
Extinguishment of Debt, Amount				230,000,000
Face value [Member] | 2021 Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes				$ 300,000,000
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 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%
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%
Base of restricted payments basket income calculation [Member]
Debt Instrument [Line Items]
Restrictions on payment of dividends				$ 125,000,000

Debt Notes Payable - Other (Det

Debt Notes Payable - Other (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Short-term Debt [Line Items]
Notes payable - other	$ 8,441	$ 9,518
Secured Debt	$ 3,900	$ 4,300
Notes Payable, Other Payables [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.117%

Debt Debt Maturities (Details)

Debt Debt Maturities (Details) $ in Thousands	Dec. 31, 2015USD ($)
Debt Maturities [Abstract]
2,016	$ 124,746
2,017	63,396
2,018	130,541
2,019	417
2,020	302
Thereafter	300,237
Total	$ 619,639

Preferred Shares Preferred Shar

Preferred Shares Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Apr. 10, 2013	Mar. 15, 2007
Preferred Shares [Abstract]
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Shares, Issued					4,000,000
Preferred Stock, Shares Issued	2,000	2,000			4,000
Preferred shares redeemed				2,000
Preferred Stock, Shares Outstanding	2,000
Payments for Repurchase of Redeemable Preferred Stock	$ 0	$ 0	$ 50,352
Preferred Stock, Liquidation Preference, Value	50,000
Preferred dividends	$ 4,875	$ 4,875	$ 3,656

Earnings per Share Earnings p77

Earnings per Share Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income									$ 51,763	$ 50,789	$ 151,423
Preferred dividends									(4,875)	(4,875)	(3,656)
Excess of fair value over book value of preferred shares redeemed									0	0	(2,190)
Net Income Available to Common Stockholders	$ 12,056	$ 14,352	$ 12,131	$ 8,349	$ 9,767	$ 12,399	$ 12,335	$ 11,413	46,888	45,914	145,577
Net income available to common shareholders									$ 50,408	$ 49,448	$ 150,695
Basic Weighted Average Shares Outstanding	24,649	24,605	24,531	24,514	24,489	24,474	24,470	24,417	24,575	24,463	23,822
Stock option awards									237	222	237
Deferred compensation awards									150	142	123
Diluted Weighted Average Shares Outstanding	30,107	30,067	30,023	29,975	29,944	29,921	29,913	29,870	30,047	29,912	28,763
Earnings Per Share, Basic	$ 0.49	$ 0.58	$ 0.49	$ 0.34	$ 0.40	$ 0.51	$ 0.50	$ 0.47	$ 1.91	$ 1.88	$ 6.11
Earnings Per Share, Diluted	$ 0.43	$ 0.51	$ 0.43	$ 0.31	$ 0.36	$ 0.44	$ 0.44	$ 0.41	$ 1.68	$ 1.65	$ 5.24
Anti-dilutive stock equivalent awards not included in the calculation of diluted loss per share									1,447	1,250	963
2018 Convertible Senior Notes [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Interest on 3.25% convertible senior subordinated notes due 2017									$ 2,021	$ 2,030	$ 2,675
Convertible senior subordinated notes potential shares									2,669	2,669	2,165
2017 Convertible Senior Notes [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Interest on 3.25% convertible senior subordinated notes due 2017									$ 1,499	$ 1,504	$ 2,443
Convertible senior subordinated notes potential shares									2,416	2,416	2,416

Earnings per Share Earnings p78

Earnings per Share Earnings per Share (Textuals) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Preferred Stock, Redemption Price Per Share	$ 609.375
Preferred Stock, Shares Outstanding	2,000
Preferred dividends	$ 4,875	$ 4,875	$ 3,656

Income Taxes Deferred Tax Asset

Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets, Gross [Abstract]
Warranty, insurance and other accruals	$ 14,460	$ 13,155
Inventory	9,528	11,049
State taxes	211	175
Net operating loss carryforward	42,556	69,946
Deferred charges	649	1,711
Total deferred tax assets	67,404	96,036
Deferred Tax Liabilities, Gross [Abstract]
Federal effect of state deferred taxes	5,519	0
Depreciation	0	1,191
Prepaid expenses	0	433
Total deferred tax liabilities	5,519	1,624
Deferred Tax Assets, Net of Valuation Allowance	$ 61,885	$ 94,412

Income Taxes Benefit From Incom

Income Taxes Benefit From Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current Federal Tax Expense (Benefit)	$ 1,757	$ 1,766	$ 2
Current State and Local Tax Expense (Benefit)	883	681	821
Current Income Tax Expense (Benefit)	2,640	2,447	823
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred Federal Income Tax Expense (Benefit)	28,760	22,141	(102,830)
Deferred State and Local Income Tax Expense (Benefit)	3,766	(5,641)	(8,081)
Deferred Income Tax Expense (Benefit)	32,526	16,500	(110,911)
Provision (benefit) from income taxes	$ 35,166	$ 18,947	$ (110,088)

Income Taxes Income Tax Disclos

Income Taxes Income Tax Disclosure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 0	$ 9,291	$ (126,458)
Effective Income Tax Rate, Continuing Operations	40.45%	27.17%	(266.33%)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0	$ 0	$ 0
Income Tax Benefit Recognized due to IRC 45L for energy efficient homes	$ 400

Income Taxes Income Tax Reconci

Income Taxes Income Tax Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Effective Tax Rate [Abstract]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 30,425	$ 24,407	$ 14,467
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	2,820	2,199	534
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	0	9,291	(126,458)
Income Tax Reconciliation, Change in State NOL Deferred Tax Asset – Net of Federal Tax Benefit	1,548	1,780	853
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	373	(148)	516
Provision (benefit) from income taxes	$ 35,166	$ 18,947	$ (110,088)

Income Taxes Net Operating Loss

Income Taxes Net Operating Loss Carryforwards (Details) $ in Thousands	Dec. 31, 2015USD ($)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 8,100
Expiring beginning in 2028 [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	20,700
Federal Tax Credit Carryforward, Amount	9,400
Expiring between 2020 and 2027 [Member] | State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	3,000
Expiring between 2028 and 2033 [Member] | State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 5,100

Business Segments Business Se84

Business Segments Business Segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments	14
Revenue	$ 1,418,395	$ 1,215,180	$ 1,036,782
Operating income (loss):	111,794	82,754	58,693
Interest	17,521	13,365	15,938
Equity in income of unconsolidated joint ventures	(498)	(347)	(306)
Loss on early extinguishment of debt	7,842	0	1,726
Income before income taxes	86,929	69,736	41,335
Depreciation and amortization:	10,928	8,296	8,311
Total valuation adjustments and write-offs	3,639	3,500	5,805
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	500,873	426,090	336,242
Operating income (loss):	51,436	37,484	21,469
Interest	4,005	3,001	4,923
Depreciation and amortization:	1,614	1,277	1,063
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	514,747	420,901	324,436
Operating income (loss):	47,276	34,341	23,653
Interest	7,244	5,445	6,142
Depreciation and amortization:	2,069	1,584	1,230
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	366,800	338,067	347,565
Operating income (loss):	25,144	27,502	27,297
Interest	4,656	3,480	3,491
Depreciation and amortization:	1,464	970	995
Financial Services [Member]
Segment Reporting Information [Line Items]
Financial services revenue	35,975	30,122	28,539
Operating income (loss):	21,032	15,616	15,798
Interest	1,616	1,439	1,382
Depreciation and amortization:	1,213	201	138
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Less: Corporate selling, general and administrative expenses	(33,094)	(32,189)	(29,524)
Depreciation and amortization:	$ 4,568	$ 4,264	$ 4,885

Business Segments Business Se85

Business Segments Business Segments - Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Business Segments [Abstract]
Other assets	$ 46,142	$ 37,699
Segment Reporting Information [Line Items]
Land purchase deposits	23,710	23,495
Inventory	1,088,332	895,094
Investment in unconsolidated joint ventures	36,967	27,769
Other Combined Assets	266,545	258,881
TOTAL ASSETS	1,415,554	1,205,239
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Land purchase deposits	3,379	4,573
Inventory	368,748	303,037
Investment in unconsolidated joint ventures	5,976	1,764
Other Combined Assets	10,018	7,933
TOTAL ASSETS	388,121	317,307
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Land purchase deposits	16,128	14,752
Inventory	416,443	331,938
Investment in unconsolidated joint ventures	30,991	26,005
Other Combined Assets	23,704	16,829
TOTAL ASSETS	487,266	389,524
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Land purchase deposits	4,203	4,170
Inventory	303,141	260,119
Investment in unconsolidated joint ventures	0	0
Other Combined Assets	7,253	7,536
TOTAL ASSETS	314,597	271,825
Corporate, Financial Services and Unallocated [Member]
Segment Reporting Information [Line Items]
Land purchase deposits	0	0
Inventory	0	0
Investment in unconsolidated joint ventures	0	0
Other Combined Assets	225,570	226,583
TOTAL ASSETS	225,570	226,583
Scenario, Adjustment [Member]
Business Segments [Abstract]
Other assets	$ (7,800)	(6,171)
Segment Reporting Information [Line Items]
TOTAL ASSETS		$ (6,171)

Business Segments Business Se86

Business Segments Business Segments - Textuals (Details)	12 Months Ended
	Dec. 31, 2015
Business Segments - Textuals [Abstract]
Number of Operating Segments	14

Supplemental Guarantor Inform87

Supplemental Guarantor Information Supplemental Guarantor Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue									$ 1,418,395	$ 1,215,180	$ 1,036,782
Land and housing									1,114,663	958,991	824,508
Impairment of inventory and investment in unconsolidated joint ventures									3,638	3,457	5,805
General and administrative									93,208	88,830	79,494
Selling									95,092	81,148	68,282
Equity in income of unconsolidated joint ventures									(498)	(347)	(306)
Interest									17,521	13,365	15,938
Loss on early extinguishment of debt									7,842	0	1,726
Total costs and expenses									1,331,466	1,145,444	995,447
Income before income taxes									86,929	69,736	41,335
Provision (benefit) from income taxes									35,166	18,947	(110,088)
Equity in subsidiaries									0	0	0
Net income									51,763	50,789	151,423
Preferred dividends									4,875	4,875	3,656
Excess of fair value over book value of preferred shares redeemed									0	0	2,190
Net Income Available to Common Stockholders	$ 12,056	$ 14,352	$ 12,131	$ 8,349	$ 9,767	$ 12,399	$ 12,335	$ 11,413	46,888	45,914	145,577
Parent [Member]
Revenue									0	0	0
Land and housing									0	0	0
Impairment of inventory and investment in unconsolidated joint ventures									0	0	0
General and administrative									0	0	0
Selling									0	0	0
Equity in income of unconsolidated joint ventures									0	0	0
Interest									0	0	0
Loss on early extinguishment of debt									0		0
Total costs and expenses									0	0	0
Income before income taxes									0	0	0
Provision (benefit) from income taxes									0	0	0
Equity in subsidiaries									51,763	50,789	151,423
Net income									51,763	50,789	151,423
Preferred dividends									4,875	4,875	3,656
Excess of fair value over book value of preferred shares redeemed											2,190
Net Income Available to Common Stockholders									46,888	45,914	145,577
Guarantor Subsidiaries [Member]
Revenue									1,382,420	1,185,058	1,008,243
Land and housing									1,114,663	958,991	824,508
Impairment of inventory and investment in unconsolidated joint ventures									3,638	3,457	5,805
General and administrative									77,662	73,747	66,249
Selling									95,092	81,148	68,209
Equity in income of unconsolidated joint ventures									0	0	0
Interest									15,905	11,926	14,556
Loss on early extinguishment of debt									7,842		1,726
Total costs and expenses									1,314,802	1,129,269	981,053
Income before income taxes									67,618	55,789	27,190
Provision (benefit) from income taxes									28,758	14,341	(114,866)
Equity in subsidiaries									0	0	0
Net income									38,860	41,448	142,056
Preferred dividends									0	0	0
Excess of fair value over book value of preferred shares redeemed											0
Net Income Available to Common Stockholders									38,860	41,448	142,056
Non-Guarantor Subsidiaries [Member]
Revenue									35,975	30,122	28,539
Land and housing									0	0	0
Impairment of inventory and investment in unconsolidated joint ventures									0	0	0
General and administrative									15,546	15,083	13,245
Selling									0	0	73
Equity in income of unconsolidated joint ventures									(498)	(347)	(306)
Interest									1,616	1,439	1,382
Loss on early extinguishment of debt									0		0
Total costs and expenses									16,664	16,175	14,394
Income before income taxes									19,311	13,947	14,145
Provision (benefit) from income taxes									6,408	4,606	4,778
Equity in subsidiaries									0	0	0
Net income									12,903	9,341	9,367
Preferred dividends									0	0	0
Excess of fair value over book value of preferred shares redeemed											0
Net Income Available to Common Stockholders									12,903	9,341	9,367
Corporate Elimination [Member]
Revenue									0	0	0
Land and housing									0	0	0
Impairment of inventory and investment in unconsolidated joint ventures									0	0	0
General and administrative									0	0	0
Selling									0	0	0
Equity in income of unconsolidated joint ventures									0	0	0
Interest									0	0	0
Loss on early extinguishment of debt									0		0
Total costs and expenses									0	0	0
Income before income taxes									0	0	0
Provision (benefit) from income taxes									0	0	0
Equity in subsidiaries									(51,763)	(50,789)	(151,423)
Net income									(51,763)	(50,789)	(151,423)
Preferred dividends									0	0	0
Excess of fair value over book value of preferred shares redeemed											0
Net Income Available to Common Stockholders									$ (51,763)	$ (50,789)	$ (151,423)

Supplemental Guarantor Inform88

Supplemental Guarantor Information Supplemental Guarantor Information - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
ASSETS:
Cash and cash equivalents	$ 10,205	$ 15,535	$ 128,725	$ 145,498
Restricted cash	2,896	6,951
Mortgage loans held for sale	127,001	92,794
Inventory	1,112,042	918,589
Property and equipment - net	12,897	11,490
Investment in unconsolidated joint ventures	36,967	27,769
Investment in subsidiaries	0	0
Deferred income taxes, net of valuation allowance	67,404	94,412
Intercompany assets	0	0
Other assets	46,142	37,699
TOTAL ASSETS	1,415,554	1,205,239
LIABILITIES:
Accounts payable	86,878	75,338
Customer deposits	19,567	11,759
Intercompany liabilities	0	0
Other liabilities	93,670	79,723
Community development district (CDD) obligations	1,018	2,571
Obligation for consolidated inventory not owned	6,007	608
Notes payable bank - homebuilding operations	43,800	30,000
Notes payable bank - financial services operations	123,648	85,379
Notes payable - other	8,441	9,518
Convertible senior subordinated notes due 2017 - net	56,518	55,943
Convertible senior subordinated notes due 2018 - net	84,714	84,006
Senior notes - net	294,727	226,099
TOTAL LIABILITIES	818,988	660,944
TOTAL SHAREHOLDERS' EQUITY	596,566	544,295
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,415,554	1,205,239
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
Investment in unconsolidated joint ventures	0	0
Investment in subsidiaries	621,052	576,468
Deferred income taxes, net of valuation allowance	0	0
Intercompany assets	408,847	330,786
Other assets	2,626	3,089
TOTAL ASSETS	1,032,525	910,343
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 services operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2017 - net	56,518	55,943
Convertible senior subordinated notes due 2018 - net	84,714	84,006
Senior notes - net	294,727	226,099
TOTAL LIABILITIES	435,959	366,048
TOTAL SHAREHOLDERS' EQUITY	596,566	544,295
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,032,525	910,343
Guarantor Subsidiaries [Member]
ASSETS:
Cash and cash equivalents	0	3,872	113,407	126,334
Restricted cash	2,896	6,951
Mortgage loans held for sale	0	0
Inventory	1,112,042	918,589
Property and equipment - net	12,222	11,189
Investment in unconsolidated joint ventures	17,425	15,033
Investment in subsidiaries	0	0
Deferred income taxes, net of valuation allowance	67,255	94,088
Intercompany assets	0	0
Other assets	32,335	24,378
TOTAL ASSETS	1,244,175	1,074,100
LIABILITIES:
Accounts payable	94,554	74,344
Customer deposits	19,567	11,759
Intercompany liabilities	387,439	314,946
Other liabilities	88,550	74,413
Community development district (CDD) obligations	1,018	2,571
Obligation for consolidated inventory not owned	6,007	608
Notes payable bank - homebuilding operations	43,800	30,000
Notes payable bank - financial services operations	0	0
Notes payable - other	8,441	9,518
Convertible senior subordinated notes due 2017 - net	0	0
Convertible senior subordinated notes due 2018 - net	0	0
Senior notes - net	0	0
TOTAL LIABILITIES	649,376	518,159
TOTAL SHAREHOLDERS' EQUITY	594,799	555,941
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,244,175	1,074,100
Non-Guarantor Subsidiaries [Member]
ASSETS:
Cash and cash equivalents	18,156	11,663	15,318	19,164
Restricted cash	0	0
Mortgage loans held for sale	127,001	92,794
Inventory	0	0
Property and equipment - net	675	301
Investment in unconsolidated joint ventures	19,542	12,736
Investment in subsidiaries	0	0
Deferred income taxes, net of valuation allowance	149	324
Intercompany assets	0	0
Other assets	11,181	10,232
TOTAL ASSETS	176,704	128,050
LIABILITIES:
Accounts payable	275	994
Customer deposits	0	0
Intercompany liabilities	21,408	15,840
Other liabilities	5,120	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 services operations	123,648	85,379
Notes payable - other	0	0
Convertible senior subordinated notes due 2017 - net	0	0
Convertible senior subordinated notes due 2018 - net	0	0
Senior notes - net	0	0
TOTAL LIABILITIES	150,451	107,523
TOTAL SHAREHOLDERS' EQUITY	26,253	20,527
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	176,704	128,050
Corporate Elimination [Member]
ASSETS:
Cash and cash equivalents	(7,951)	0	$ 0	$ 0
Restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investment in unconsolidated joint ventures	0	0
Investment in subsidiaries	(621,052)	(576,468)
Deferred income taxes, net of valuation allowance	0	0
Intercompany assets	(408,847)	(330,786)
Other assets	0	0
TOTAL ASSETS	(1,037,850)	(907,254)
LIABILITIES:
Accounts payable	(7,951)	0
Customer deposits	0	0
Intercompany liabilities	(408,847)	(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 services operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2017 - net	0	0
Convertible senior subordinated notes due 2018 - net	0	0
Senior notes - net	0	0
TOTAL LIABILITIES	(416,798)	(330,786)
TOTAL SHAREHOLDERS' EQUITY	(621,052)	(576,468)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ (1,037,850)	$ (907,254)

Supplemental Guarantor Inform89

Supplemental Guarantor Information Supplemental Guarantor Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	$ (82,159)	$ (132,675)	$ (73,974)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	3,849	7,122	(5,185)
Purchase of property and equipment	(3,659)	(2,946)	(2,382)
Acquisition, net of cash acquired	(23,950)	0	0
Net proceeds from sale of mortgage servicing rights	3,065	2,135	0
Intercompany Investing	0	0
Investment in unconsolidated joint ventures	(18,162)	(20,415)	(29,509)
Return of capital from unconsolidated joint ventures	1,226	1,523	1,522
Net cash provided by (used in) investing activities	(37,631)	(12,581)	(35,554)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayment of senior notes	(226,874)
Proceeds from issuance of senior notes	300,000
Proceeds from issuance of convertible senior subordinated notes	0	0	86,250
Proceeds from bank borrowings - homebuilding operations	417,300	192,600	0
Repayment of bank borrowings - homebuilding operations	(403,500)	(162,600)	0
Net proceeds from bank borrowings - financial services operations	38,269	5,350	12,072
Principal proceeds from note payable - other and community development district bond obligations	(1,077)	1,728	(3,315)
Redemption of preferred shares	0	0	(50,352)
Dividends paid on preferred shares	(4,875)	(4,875)	(3,656)
Net proceeds from issuance of common shares	0	0	54,617
Intercompany financing	0	0	0
Debt issue costs	(5,818)	(2,081)	(5,501)
Proceeds from exercise of stock options	1,035	1,944	2,640
Net cash provided by (used in) financing activities	114,460	32,066	92,755
Net (decrease) increase in cash and cash equivalents	(5,330)	(113,190)	(16,773)
Cash and cash equivalents balance at beginning of period	15,535	128,725	145,498
Cash and cash equivalents balance at end of period	10,205	15,535	128,725
Parent [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	7,178	10,200	7,100
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	0	0	0
Purchase of property and equipment	0	0	0
Acquisition, net of cash acquired	0
Net proceeds from sale of mortgage servicing rights	0	0
Intercompany Investing	(3,338)	(7,269)
Investment in unconsolidated joint ventures	0	0	0
Return of capital from unconsolidated joint ventures	0	0	0
Net cash provided by (used in) investing activities	(3,338)	(7,269)	0
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayment of senior notes	0
Proceeds from issuance of senior notes	0
Proceeds from issuance of convertible senior subordinated notes			86,250
Proceeds from bank borrowings - homebuilding operations	0	0
Repayment of bank borrowings - homebuilding operations	0	0
Net proceeds from bank borrowings - financial services operations	0	0	0
Principal proceeds from note payable - other and community development district bond obligations	0	0	0
Redemption of preferred shares			(50,352)
Dividends paid on preferred shares	(4,875)	(4,875)	(3,656)
Net proceeds from issuance of common shares			54,617
Intercompany financing	0	0	(96,599)
Debt issue costs	0	0	0
Proceeds from exercise of stock options	1,035	1,944	2,640
Net cash provided by (used in) financing activities	(3,840)	(2,931)	(7,100)
Net (decrease) increase in cash and cash equivalents	0	0	0
Cash and cash equivalents balance at beginning of period	0	0	0
Cash and cash equivalents balance at end of period	0	0	0
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(58,566)	(143,672)	(72,633)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	3,849	7,122	(5,185)
Purchase of property and equipment	(3,156)	(2,793)	(2,146)
Acquisition, net of cash acquired	(23,950)
Net proceeds from sale of mortgage servicing rights	$ 0	0
Intercompany Investing		0
Investment in unconsolidated joint ventures	$ (8,087)	(14,435)	(13,525)
Return of capital from unconsolidated joint ventures	0	275	0
Net cash provided by (used in) investing activities	(31,344)	(9,831)	(20,856)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayment of senior notes	(226,874)
Proceeds from issuance of senior notes	300,000
Proceeds from issuance of convertible senior subordinated notes			0
Proceeds from bank borrowings - homebuilding operations	417,300	192,600
Repayment of bank borrowings - homebuilding operations	(403,500)	(162,600)
Net proceeds from bank borrowings - financial services operations	0	0	0
Principal proceeds from note payable - other and community development district bond obligations	(1,077)	1,728	(3,315)
Redemption of preferred shares			0
Dividends paid on preferred shares	0	0	0
Net proceeds from issuance of common shares			0
Intercompany financing	5,929	14,244	89,279
Debt issue costs	(5,740)	(2,004)	(5,402)
Proceeds from exercise of stock options	0	0	0
Net cash provided by (used in) financing activities	86,038	43,968	80,562
Net (decrease) increase in cash and cash equivalents	(3,872)	(109,535)	(12,927)
Cash and cash equivalents balance at beginning of period	3,872	113,407	126,334
Cash and cash equivalents balance at end of period	0	3,872	113,407
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(23,593)	10,997	(1,341)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	0	0	0
Purchase of property and equipment	(503)	(153)	(236)
Acquisition, net of cash acquired	0
Net proceeds from sale of mortgage servicing rights	$ 3,065	2,135
Intercompany Investing		0
Investment in unconsolidated joint ventures	$ (10,075)	(5,980)	(15,984)
Return of capital from unconsolidated joint ventures	1,226	1,248	1,522
Net cash provided by (used in) investing activities	(6,287)	(2,750)	(14,698)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayment of senior notes	0
Proceeds from issuance of senior notes	0
Proceeds from issuance of convertible senior subordinated notes			0
Proceeds from bank borrowings - homebuilding operations	0	0
Repayment of bank borrowings - homebuilding operations	0	0
Net proceeds from bank borrowings - financial services operations	38,269	5,350	12,072
Principal proceeds from note payable - other and community development district bond obligations	0	0	0
Redemption of preferred shares			0
Dividends paid on preferred shares	(7,178)	(10,200)	(7,100)
Net proceeds from issuance of common shares			0
Intercompany financing	5,360	(6,975)	7,320
Debt issue costs	(78)	(77)	(99)
Proceeds from exercise of stock options	0	0	0
Net cash provided by (used in) financing activities	36,373	(11,902)	12,193
Net (decrease) increase in cash and cash equivalents	6,493	(3,655)	(3,846)
Cash and cash equivalents balance at beginning of period	11,663	15,318	19,164
Cash and cash equivalents balance at end of period	18,156	11,663	15,318
Corporate Elimination [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(7,178)	(10,200)	(7,100)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Change in restricted cash	0	0	0
Purchase of property and equipment	0	0	0
Acquisition, net of cash acquired	0
Net proceeds from sale of mortgage servicing rights	0	0
Intercompany Investing	3,338	7,269
Investment in unconsolidated joint ventures	0	0	0
Return of capital from unconsolidated joint ventures	0	0	0
Net cash provided by (used in) investing activities	3,338	7,269	0
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayment of senior notes	0
Proceeds from issuance of senior notes	0
Proceeds from issuance of convertible senior subordinated notes			0
Proceeds from bank borrowings - homebuilding operations	0	0
Repayment of bank borrowings - homebuilding operations	0	0
Net proceeds from bank borrowings - financial services operations	0	0	0
Principal proceeds from note payable - other and community development district bond obligations	0	0	0
Redemption of preferred shares			0
Dividends paid on preferred shares	7,178	10,200	7,100
Net proceeds from issuance of common shares			0
Intercompany financing	(11,289)	(7,269)	0
Debt issue costs	0	0	0
Proceeds from exercise of stock options	0	0	0
Net cash provided by (used in) financing activities	(4,111)	2,931	7,100
Net (decrease) increase in cash and cash equivalents	(7,951)	0	0
Cash and cash equivalents balance at beginning of period	0	0	0
Cash and cash equivalents balance at end of period	$ (7,951)	$ 0	$ 0

Supplementary Financial Data 90

Supplementary Financial Data Supplementary Financial Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplementary Financial Data [Abstract]
Revenue	$ 468,923	$ 363,457	$ 322,856	$ 263,159	$ 367,964	$ 330,767	$ 281,608	$ 234,841	$ 1,418,395	$ 1,215,180	$ 1,036,782
Gross margin	94,816	78,041	70,261	56,976	73,759	68,509	59,587	50,877
Net Income Available to Common Stockholders	$ 12,056	$ 14,352	$ 12,131	$ 8,349	$ 9,767	$ 12,399	$ 12,335	$ 11,413	$ 46,888	$ 45,914	$ 145,577
Earnings Per Share, Basic	$ 0.49	$ 0.58	$ 0.49	$ 0.34	$ 0.40	$ 0.51	$ 0.50	$ 0.47	$ 1.91	$ 1.88	$ 6.11
Earnings Per Share, Diluted	$ 0.43	$ 0.51	$ 0.43	$ 0.31	$ 0.36	$ 0.44	$ 0.44	$ 0.41	$ 1.68	$ 1.65	$ 5.24
Basic Weighted Average Shares Outstanding	24,649	24,605	24,531	24,514	24,489	24,474	24,470	24,417	24,575	24,463	23,822
Diluted Weighted Average Shares Outstanding	30,107	30,067	30,023	29,975	29,944	29,921	29,913	29,870	30,047	29,912	28,763