M/I Homes (MHO) 10-Q 28 Jul 17 2017 Q2 Quarterly report Financial data

DEI Document

DEI Document - shares	6 Months Ended
	Jun. 30, 2017	Jul. 26, 2017
Entity Information [Line Items]
Entity Registrant Name	M I HOMES INC
Entity Central Index Key	799,292
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		25,104,729

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Cash, cash equivalents and restricted cash	$ 29,940	$ 34,441
Mortgage loans held for sale	91,986	154,020
Inventory	1,379,544	1,215,934
Property and equipment - net	22,255	22,299
Investment in joint venture arrangements	22,877	28,016
Deferred income taxes	30,078	30,875
Other assets	54,706	62,926
Total assets	1,631,386	1,548,511
LIABILITIES:
Accounts payable	113,072	103,212
Customer deposits	29,655	22,156
Other liabilities	106,637	123,162
Community development district obligations	5,875	476
Obligation for consolidated inventory not owned	12,263	7,528
Notes payable bank - homebuilding operations	138,000	40,300
Notes payable bank - financial service operations	89,518	152,895
Notes payable - other	3,663	6,415
Convertible senior subordinated notes due 2017 - net	57,380	57,093
Convertible senior subordinated notes due 2018 - net	85,777	85,423
Senior notes due 2021 - net	296,229	295,677
TOTAL LIABILITIES	938,069	894,337
Commitments and contingencies (Note 6)	0	0
SHAREHOLDERS' EQUITY:
Preferred shares - $.01 par value; authorized 2,000,000 shares; 2,000 shares issued and outstanding at both June 30, 2017 and December 31, 2016	48,163	48,163
Common shares - $.01 par value; authorized 58,000,000 shares at both June 30, 2017 and December 31, 2016; issued 27,092,723 shares at both June 30, 2017 and December 31, 2016	271	271
Additional paid-in capital	245,775	246,549
Retained earnings	438,595	407,161
Treasury shares - at cost - 1,988,171 and 2,415,290 shares at June 30, 2017 and December 31, 2016, respectively	(39,487)	(47,970)
TOTAL SHAREHOLDERS' EQUITY	693,317	654,174
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,631,386	$ 1,548,511

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Parentheticals - Balance Sheet [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	58,000,000	58,000,000
Common Stock, Shares, Issued	27,092,723	27,092,723
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Shares Issued	2,000	2,000
Preferred Stock, Shares Outstanding	2,000	2,000
Treasury Stock, Shares	1,988,171	2,415,290

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue	$ 456,866	$ 401,247	$ 863,846	$ 725,617
Costs and Expenses [Abstract]
Land and housing	367,598	319,708	687,879	579,880
General and administrative	30,112	26,830	57,872	49,089
Selling	30,247	25,533	57,530	47,799
Equity in income of joint venture arrangements	(110)	(82)	(127)	(389)
Interest	3,834	4,308	9,172	9,573
Total costs and expenses	431,681	376,297	812,326	685,952
Income before income taxes	25,185	24,950	51,520	39,665
Provision for income taxes	8,196	9,034	17,648	14,560
Net income	16,989	15,916	33,872	25,105
Preferred Dividends	1,219	1,219	2,438	2,438
Net income to common shareholders	$ 15,770	$ 14,697	$ 31,434	$ 22,667
Earnings per common share:
Basic	$ 0.63	$ 0.60	$ 1.26	$ 0.92
Diluted	$ 0.55	$ 0.52	$ 1.09	$ 0.81
Weighted Average Number of Shares Outstanding [Abstract]
Basic	24,990	24,669	24,864	24,663
Diluted	30,619	30,077	30,471	30,055

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders' Equity - 6 months ended Jun. 30, 2017 - 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, 2016		2,000	24,677,433
Stockholders' Equity, Beginning Balance at Dec. 31, 2016	$ 654,174	$ 48,163	$ 271	$ 246,549	$ 407,161	$ (47,970)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33,872				33,872
Dividends declared to preferred shareholders	(2,438)				(2,438)
Stock options exercised, shares			342,661
Stock options exercised	4,792			(2,014)		6,806
Stock-based compensation expense	2,566			2,566
Deferral of executive and director compensation	351			351
Executive and director deferred compensation distributions shares			84,458
Executive and director deferred compensation distributions	0			(1,677)		1,677
Shares Outstanding, Ending Balance at Jun. 30, 2017		2,000	25,104,552
Stockholders' Equity, Ending Balance at Jun. 30, 2017	$ 693,317	$ 48,163	$ 271	$ 245,775	$ 438,595	$ (39,487)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
OPERATING ACTIVITIES:
Net income	$ 33,872	$ 25,105
Adjustments to reconcile net income to net cash used in operating activities:
Equity in income of joint venture arrangements	(127)	(389)
Mortgage loan originations	(468,832)	(404,599)
Proceeds from the sale of mortgage loans	535,256	433,406
Fair value adjustment of mortgage loans held for sale	(4,390)	(2,185)
Capitalization of originated mortgage servicing rights	(2,239)	(2,964)
Amortization of mortgage servicing rights	546	751
Depreciation	4,608	4,149
Amortization of debt discount and debt issue costs	1,712	1,701
Stock-based compensation expense	2,566	2,126
Deferred income tax expense	797	13,832
Change in assets and liabilities:
Inventory	(146,171)	(46,856)
Other assets	1,897	(7,185)
Accounts payable	9,860	18,791
Customer deposits	7,499	7,848
Accrued compensation	(13,415)	(10,566)
Other liabilities	(2,759)	7,974
Net cash (used in) provided by operating activities	(39,320)	40,939
INVESTING ACTIVITIES:
Purchase of property and equipment	(1,872)	(11,029)
Return of investment from Investment in joint venture arrangements	1,078	0
Investment in joint venture arrangements	(5,807)	(5,782)
Net proceeds from sale of mortgage servicing rights	7,558	0
Net cash provided by (used in) investing activities	957	(16,811)
FINANCING ACTIVITIES:
Proceeds from bank borrowings - homebuilding operations	289,400	192,200
Repayments of bank borrowings - homebuilding operations	(191,700)	(166,000)
Net repayment of bank borrowings - financial services operations	(63,377)	(30,982)
Proceeds from notes payable-other and community development district bond obligations	(2,752)	111
Dividends paid on preferred shares	(2,438)	(2,438)
Debt issue costs	(63)	(193)
Proceeds from exercise of stock options	4,792	73
Net cash (used in) provided by financing activities	33,862	(7,229)
Net increase (decrease) in cash and cash equivalents	(4,501)	16,899
Cash and cash equivalents balance at beginning of period	34,441	13,101
Cash and cash equivalents balance at end of period	29,940	30,000
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	7,381	(2,152)
Income taxes	17,770	1,801
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	5,399	(296)
Consolidated inventory not owned	4,735	(838)
Distribution of single-family lots from joint venture arrangements	$ 9,995	$ 14,978

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Basis of Presentation [Abstract]
Basis of Accounting [Text Block]	Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements (the “financial statements”) of M/I Homes, Inc. and its subsidiaries (the “Company”) and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. The financial statements include the accounts of the Company. All intercompany transactions have been eliminated. Results for the interim period are not necessarily indicative of results for a full year. In the opinion of management, the accompanying financial statements reflect all adjustments (all of which are normal and recurring in nature) necessary for a fair presentation of financial results for the interim periods presented. These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 (the “ 2016 Form 10-K”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that period. Actual results could differ from these estimates and have a significant impact on the financial condition and results of operations and cash flows. With regard to the Company, estimates and assumptions are inherent in calculations relating to valuation of inventory and investment in unconsolidated joint ventures, property and equipment depreciation, valuation of derivative financial instruments, accounts payable on inventory, accruals for costs to complete inventory, accruals for warranty claims, accruals for self-insured general liability claims, litigation, accruals for health care and workers’ compensation, accruals for guaranteed or indemnified loans, stock-based compensation expense, income taxes, and contingencies. Items that could have a significant impact on these estimates and assumptions include the risks and uncertainties listed in “Item 1A. Risk Factors” in Part I of our 2016 Form 10-K, as the same may be updated from time to time in our subsequent filings with the SEC, including the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017. Reclassifications Certain financial statement line items reflected on the June 30, 2016 Statement of Cash Flows were affected by the Company’s early adoption of Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows: Restricted Cash (“ASU 2016-18”) during the fourth quarter of 2016 as a result of the change in accounting principle. Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences and classification on the statement of cash flows. For public entities, ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted the new standard in the first quarter of 2017. Excess tax benefits or deficiencies for stock-based compensation are now reflected in the Condensed Consolidated Statements of Income as a component of income tax expense, whereas previously they were recognized in equity. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements and disclosures. Impact of New Accounting Standards In May 2014, the FASB issued 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, Revenue from Contracts with Customers: 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. Subsequent to the issuance of ASU 2014-09, the FASB has issued several ASUs, such as ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing , and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients . These ASUs do not change the core principle of the guidance stated in ASU 2014-09. Instead, these amendments are intended to clarify and improve the operability of certain topics addressed by ASU 2014-09. These additional ASUs will have the same effective date and transition requirements as ASU 2014-09, as amended. See below for additional explanation of each of these additional ASUs. The Company does not believe the adoption of these additional ASUs will not have a material impact on our consolidated financial statements. The guidance in ASU 2014-09 permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The new standard is effective for our fiscal year beginning January 1, 2018, and, at that time, we currently anticipate adopting the standard using the cumulative catch-up transition method. We anticipate this standard will not have a material impact on our consolidated financial statements. While we are continuing to assess all potential impacts of the standard, and have been involved in industry-specific discussions with the FASB on the treatment of certain items, we currently believe the most significant impact could relate to our accounting for sale of land and/or lots to third parties that have continuing performance obligations. We expect the amount and timing of our homebuilding revenue to remain substantially unchanged. Due to the complexity of certain of our land contracts, however, the actual revenue recognition treatment required under the standard for land sales will depend on contract-specific terms, and may vary in some instances from recognition at the time of closing. We are continuing to evaluate the impact the adoption of ASU 2014-09 may have on other aspects of our business and on our consolidated financial statements and disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 will require organizations that lease assets - referred to as “lessees” - to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities will expand to include qualitative and specific quantitative information. For public entities, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2016-02 mandates a modified retrospective transition method. The Company is currently evaluating the potential impact the adoption of ASU 2016-02 will have on the Company’s consolidated financial statements and disclosures. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (“ASU 2016-08”). The amendments in this ASU are intended to improve the operability and understandability of the implementation guidance stated in ASU 2014-09 on principal versus agent considerations and whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing (“ASU 2016-10”). ASU 2016-10 provides guidance on identifying performance obligations and licensing. This update clarifies the guidance in ASU 2014-09 relating to identifying performance obligations and licensing. In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers: Narrow Scope Improvements and Practical Expedients (“ASU 2016-12”). ASU 2016-12 provides for amendments to ASU 2014-09 regarding transition, collectability, noncash consideration, and presentation of sales tax and other similar taxes. Specifically, ASU 2016-12 clarifies that, for a contract to be considered completed at transition, all or substantially all of the revenue must have been recognized under legacy GAAP. In addition, ASU 2016-12 clarifies how an entity should evaluate the collectability threshold and when an entity can recognize nonrefundable consideration received as revenue if an arrangement does not meet the standard’s contract criteria. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. For public entities, ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2016-15 will modify the Company's current disclosures and reclassifications within the condensed consolidated statement of cash flows but is not expected to have a material effect on the Company’s consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which provides a more robust framework for determining whether transactions should be accounted for as acquisitions (or dispositions) of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently evaluating the potential impact the adoption of ASU 2017-01 will have on the Company’s consolidated financial statements and disclosures. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test in order to simplify the subsequent measurement of goodwill. The guidance is effective for fiscal years beginning after December 15, 2019. Early application is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not believe the adoption of ASU 2017-04 will have a material impact on the Company’s consolidated financial statements and disclosures. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”). ASU 2017-05 is intended to clarify the scope of the original guidance within Subtopic 610-20 that was issued in connection with ASU 2014-09, which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with noncustomers. ASU 2017-05 additionally added guidance for partial sales of nonfinancial assets. ASU 2017-05 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We are required to adopt ASU 2017-05 concurrent with the adoption of ASU 2014-09. The Company is currently evaluating the potential impact the adoption of ASU 2017-05 will have on the Company’s consolidated financial statements and disclosures. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”), which shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public entities, ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company does not believe the adoption of ASU 2017-08 will have a material impact on the Company’s consolidated financial statements and disclosures. In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”), which provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This ASU does not change the accounting for modifications but clarifies that modification accounting guidance should only be applied if there is a change to the value, vesting conditions, or award classification and would not be required if the changes are considered non-substantive. For all entities, ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company does not believe the adoption of ASU 2017-09 will have a material impact on the Company’s consolidated financial statements and disclosures.

Inventory and Capitalized Inter

Inventory and Capitalized Interest	6 Months Ended
	Jun. 30, 2017
Inventory [Abstract]
Inventory Disclosure [Text Block]	Inventory and Capitalized Interest Inventory Inventory is recorded at cost, unless events and circumstances indicate that the carrying value of the land is impaired, at which point the inventory is written down to fair value (see Note 4 for additional details relating to our procedures for evaluating our inventories for impairment). Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. A summary of the Company’s inventory as of June 30, 2017 and December 31, 2016 is as follows: (In thousands) June 30, 2017 December 31, 2016 Single-family lots, land and land development costs $ 637,268 $ 602,528 Land held for sale 17,051 12,155 Homes under construction 600,376 494,664 Model homes and furnishings - at cost (less accumulated depreciation: June 30, 2017 - $13,413; December 31, 2016 - $11,835) 76,824 68,727 Community development district infrastructure 5,875 476 Land purchase deposits 29,887 29,856 Consolidated inventory not owned 12,263 7,528 Total inventory $ 1,379,544 $ 1,215,934 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 June 30, 2017 and December 31, 2016 , we had 1,093 homes (with a carrying value of $210.8 million ) and 996 homes (with a carrying value of $199.4 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, which is typically three years. We own lots in certain communities in Florida that have Community Development Districts (“CDDs”). 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 at the time of closing and the transfer of the property. The Company recorded a $5.9 million and $0.5 million liability related to these CDD bond obligations as of June 30, 2017 and December 31, 2016 , respectively, along with the related inventory infrastructure. Land purchase deposits include both refundable and non-refundable amounts paid to third party sellers relating to the purchase of land. On an ongoing basis, the Company evaluates the land option agreements relating to the land purchase deposits. In the period during which the Company makes the decision not to proceed with the purchase of land under an agreement, the Company expenses any deposits and accumulated pre-acquisition costs relating to such agreement. Capitalized Interest The Company capitalizes interest during land development and home construction. Capitalized interest is charged to land and housing costs and expensed as the related inventory is delivered to a third party. The summary of capitalized interest for the three and six months ended June 30, 2017 and 2016 is as follows : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Capitalized interest, beginning of period $ 16,008 $ 16,952 $ 16,012 $ 16,740 Interest capitalized to inventory 5,300 4,497 9,062 8,253 Capitalized interest charged to land and housing costs and expenses (4,843 ) (4,631 ) (8,609 ) (8,175 ) Capitalized interest, end of period $ 16,465 $ 16,818 $ 16,465 $ 16,818 Interest incurred $ 9,134 $ 8,805 $ 18,234 $ 17,826

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures (Notes)	6 Months Ended
	Jun. 30, 2017
Schedule of Equity Method Investments [Line Items]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 3. Investment in Joint Venture Arrangements Investment in Joint Venture Arrangements In order to minimize our investment and risk of land exposure in a single location, we have periodically partnered with other land developers or homebuilders to share in the land investment and development of a property through joint ownership and development agreements, joint ventures, and other similar arrangements. During the six-month period ended June 30, 2017 , we decreased our total investment in such joint venture arrangements by $5.1 million from $28.0 million at December 31, 2016 to $22.9 million at June 30, 2017 , which was driven primarily by our increased lot distributions from unconsolidated joint ventures of $10.0 million , offset, in part, by our cash contributions to our unconsolidated joint ventures during the first half of 2017 of $5.8 million . We believe that the Company’s maximum exposure related to its investment in these joint venture arrangements as of June 30, 2017 is the amount invested of $22.9 million , which is reported as Investment in Joint Venture Arrangements on our Unaudited Condensed Consolidated Balance Sheets, although we expect to invest further amounts in these joint venture arrangements as development of the properties progresses. 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 statement of income. The Company assesses its investments in unconsolidated joint ventures for recoverability on a quarterly basis. Refer to Note 4 for additional details relating to our procedures for evaluating our investments for impairment. For joint venture arrangements where a special purpose entity is established to own the property, we generally enter into limited liability company or similar arrangements (“LLCs”) with the other partners. The Company’s ownership in these LLCs as of June 30, 2017 ranged from 25% to 97% and at December 31, 2016 ranged from 25% to 74% . 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. 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 consolidated financial statements. We initially perform these evaluations when each new entity is created and upon any events that require reconsideration of the entity. See Note 1, “Summary of Significant Accounting Policies - Variable Interest Entities” in the Company’s 2016 Form 10-K for additional information regarding the Company’s methodology for evaluating entities for consolidation. Land Option Agreements In the ordinary course of business, the Company enters into land option or purchase agreements for which we generally pay non-refundable deposits. Pursuant to these land option agreements, the Company provides a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. In accordance with ASC 810, we analyze our land option or purchase agreements to determine whether the corresponding land sellers are VIEs and, if so, whether we are the primary beneficiary, as further described in Note 1, “Summary of Significant Accounting Policies - Land Option Agreements” in the Company’s 2016 Form 10-K. If we are deemed to be the primary beneficiary of the VIE, we will consolidate the VIE in our consolidated financial statements and reflect such assets and liabilities in our Consolidated Inventory not Owned in our Unaudited Condensed Consolidated Balance Sheets. At both June 30, 2017 and December 31, 2016 , we concluded that we were not the primary beneficiary of any VIEs from which we are purchasing land under option or purchase agreements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements There are three measurement input levels for determining fair value: Level 1, Level 2, and Level 3. Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets Measured on a Recurring Basis The Company measures both mortgage loans held for sale and interest rate lock commitments (“IRLCs”) at fair value. Fair value measurement results in a better presentation of the changes in fair values of the loans and the derivative instruments used to economically hedge them. In the normal course of business, our financial services segment enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within established time frames. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to an investor. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into optional or mandatory delivery forward sale contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sale contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. The Company does not engage in speculative trading or derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers or investors are undesignated derivatives, and accordingly, are marked to fair value through earnings. Changes in fair value measurements are included in earnings in the accompanying statements of income. The fair value of mortgage loans held for sale is estimated based primarily on published prices for mortgage-backed securities with similar characteristics. To calculate the effects of interest rate movements, the Company utilizes applicable published mortgage-backed security prices, and multiplies the price movement between the rate lock date and the balance sheet date by the notional loan commitment amount. The Company 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 term of less than six months; however, in certain markets, the term could extend to nine months. Some IRLCs are committed to a specific third party investor through the use of best-efforts whole loan delivery commitments matching the exact terms of the IRLC loan. Uncommitted IRLCs are considered derivative instruments and are fair value adjusted, with the resulting gain or loss recorded in current earnings. Forward Sales of Mortgage-Backed Securities. Forward sales of mortgage-backed securities (“FMBSs”) are used to protect uncommitted IRLC loans against the risk of changes in interest rates between the lock date and the funding date. FMBSs related to uncommitted IRLCs are classified and accounted for as non-designated derivative instruments and are recorded at fair value, with gains and losses recorded in current earnings. Mortgage Loans Held for Sale. Mortgage loans held for sale consists primarily of single-family residential loans collateralized by the underlying property. Generally, all of the mortgage loans and related servicing rights are sold to third-party investors shortly after origination. During the 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 table below shows the notional amounts of our financial instruments at June 30, 2017 and December 31, 2016 : Description of Financial Instrument (in thousands) June 30, 2017 December 31, 2016 Best efforts contracts and related committed IRLCs $ 9,555 $ 6,607 Uncommitted IRLCs 109,140 66,875 FMBSs related to uncommitted IRLCs 109,000 66,000 Best efforts contracts and related mortgage loans held for sale 8,324 125,348 FMBSs related to mortgage loans held for sale 82,284 33,000 Mortgage loans held for sale covered by FMBSs 82,330 32,870 The table below shows the level and measurement of assets and liabilities measured on a recurring basis at June 30, 2017 and December 31, 2016 : Description of Financial Instrument (in thousands) Fair Value Measurements June 30, 2017 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 $ 91,986 $ — $ 91,986 $ — Forward sales of mortgage-backed securities 599 — 599 — Interest rate lock commitments 344 — 344 — Best-efforts contracts (19 ) — (19 ) — Total $ 92,910 $ — $ 92,910 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2016 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 $ 154,020 $ — $ 154,020 $ — Forward sales of mortgage-backed securities 230 — 230 — Interest rate lock commitments 250 — 250 — Best-efforts contracts (90 ) — (90 ) — Total $ 154,410 $ — $ 154,410 $ — The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, Description (in thousands) 2017 2016 2017 2016 Mortgage loans held for sale $ (484 ) $ 826 $ 4,390 $ 2,186 Forward sales of mortgage-backed securities 1,280 (922 ) 369 (1,688 ) Interest rate lock commitments (748 ) 350 94 919 Best-efforts contracts 305 (53 ) 71 16 Total gain recognized $ 353 $ 201 $ 4,924 $ 1,433 The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item): Asset Derivatives Liability Derivatives June 30, 2017 June 30, 2017 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 $ 599 Other liabilities $ — Interest rate lock commitments Other assets 344 Other liabilities — Best-efforts contracts Other assets — Other liabilities 19 Total fair value measurements $ 943 $ 19 Asset Derivatives Liability Derivatives December 31, 2016 December 31, 2016 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 $ 230 Other liabilities $ — Interest rate lock commitments Other assets 250 Other liabilities — Best-efforts contracts Other assets — Other liabilities 90 Total fair value measurements $ 480 $ 90 Assets Measured on a Non-Recurring Basis Inventory. The Company assesses inventory for recoverability on a quarterly basis based on the difference in the carrying value of the inventory and its fair value at the time of the evaluation. Determining the fair value of a community’s inventory involves a number of variables, estimates and projections, which are Level 3 measurement inputs. See Note 1, “Summary of Significant Accounting Policies - Inventory” in the Company’s 2016 Form 10-K for additional information regarding the Company’s methodology for determining fair value. The Company uses significant assumptions to evaluate the recoverability of its inventory, such as estimated average selling price, construction and development costs, absorption pace (reflecting any product mix change strategies implemented or to be implemented), selling strategies, alternative land uses (including disposition of all or a portion of the land owned), or discount rates. Changes in these assumptions could materially impact future cash flow and fair value estimates and may lead the Company to incur additional impairment charges in the future. Our analysis is conducted only if indicators of a decline in value of our inventory exist, which include, among other things, declines in gross margin on sales contracts in backlog or homes that have been delivered, slower than anticipated absorption pace, declines in average sales price or high incentive offers by management to improve absorptions, declines in margins regarding future land sales, or declines in the value of the land itself as a result of third party appraisals. If communities are not recoverable based on the estimated future undiscounted cash flows, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. During the three and six months ended June 30, 2017 and 2016 , the Company did not record any impairment charges on its inventory. Investment in Unconsolidated Joint Ventures. We evaluate our investments in unconsolidated joint ventures for impairment on a quarterly basis based on the difference in the investment’s carrying value and its fair value at the time of the evaluation. If the Company has determined that the decline in value is other than temporary, the Company would write down the value of the investment to its estimated fair value. Determining the fair value of investments in unconsolidated joint ventures involves a number of variables, estimates and assumptions, which are Level 3 measurement inputs. See Note 1, “Summary of Significant Accounting Policies - Investment in Unconsolidated Joint Ventures,” in the Company’s 2016 Form 10-K for additional information regarding the Company’s methodology for determining fair value. Because of the high degree of judgment involved in developing these assumptions, it is possible that changes in these assumptions could materially impact future cash flow and fair value estimates of the investments which may lead the Company to incur additional impairment charges in the future. During the six months ended June 30, 2017 and 2016 , the Company did not record any impairment charges on its investments in unconsolidated joint ventures. Financial Instruments Counterparty Credit Risk. To reduce the risk associated with losses that would be recognized if counterparties failed to perform as contracted, the Company limits the entities with whom management can enter into commitments. This risk of accounting loss is the difference between the market rate at the time of non-performance by the counterparty and the rate to which the Company committed. The following table presents the carrying amounts and fair values of the Company’s financial instruments at June 30, 2017 and December 31, 2016 . The objective of the fair value measurement is to estimate the price at which an orderly transaction to sell the asset or transfer the liability would take place between market participants at the measurement date under current market conditions. June 30, 2017 December 31, 2016 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 29,940 $ 29,940 $ 34,441 $ 34,441 Mortgage loans held for sale 91,986 91,986 154,020 154,020 Split dollar life insurance policies 212 212 214 214 Notes receivable 162 146 763 687 Commitments to extend real estate loans 344 344 250 250 Forward sales of mortgage-backed securities 599 599 230 230 Liabilities: Notes payable - homebuilding operations 138,000 138,000 40,300 40,300 Notes payable - financial services operations 89,518 89,518 152,895 152,895 Notes payable - other 3,663 3,434 6,415 5,999 Convertible senior subordinated notes due 2017 (a) 57,500 69,791 57,500 65,957 Convertible senior subordinated notes due 2018 (a) 86,250 89,053 86,250 88,105 Senior notes due 2021 (a) 300,000 315,000 300,000 314,250 Best-efforts contracts for committed IRLCs and mortgage loans held for sale 19 19 90 90 Forward sales of mortgage-backed securities — — — — Off-Balance Sheet Financial Instruments: Letters of credit — 924 — 702 (a) Our senior notes and convertible senior subordinated notes are stated at the principal amount outstanding which does not include the impact of premiums, discounts, and debt issuance costs that are amortized to interest cost over the respective terms of the notes. The following methods and assumptions were used by the Company in estimating its fair value disclosures of financial instruments at June 30, 2017 and December 31, 2016 : 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 due 2021. The fair value of these financial instruments was determined based upon market quotes at June 30, 2017 and December 31, 2016 . 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 Policy and Notes Receivable. The estimated fair value was determined by calculating the present value of the amounts based on the estimated timing of receipts using discount rates that incorporate management’s estimate of risk associated with the corresponding note receivable. Notes Payable - Homebuilding Operations. The interest rate available to the Company during the quarter ended June 30, 2017 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 12 and Note 7 for additional information regarding the Credit Facility. Notes Payable - Financial Services Operations. M/I Financial, LLC (“M/I Financial”) is a party to two credit agreements: (1) a $125 million (increased to $150 million during certain periods of expected increases in the volume of mortgage originations, specifically from September 25, 2017 to October 16, 2017 and from December 15, 2017 to February 2, 2018) secured mortgage warehousing agreement, dated June 24, 2016 , as amended on June 23, 2017 (the “MIF Mortgage Warehousing Agreement”); and (2) a $35 million mortgage repurchase agreement, dated November 3, 2015, as most recently amended on May 16, 2017 (the “MIF Mortgage Repurchase Facility”). For each of these credit facilities, the interest rate is based on a variable rate index, and thus their carrying value is a reasonable estimate of fair value. The interest rate available to M/I Financial during the second quarter of 2017 fluctuated with LIBOR. Refer to Note 7 for additional information regarding the MIF Mortgage Warehousing Agreement and the MIF Mortgage Repurchase Facility. Notes Payable - Other. The estimated fair value was determined by calculating the present value of the future cash flows using the Company’s current incremental borrowing rate. Letters of Credit. Letters of credit of $41.9 million and $37.7 million represent potential commitments at June 30, 2017 and December 31, 2016 , respectively. The letters of credit generally expire within one or two years. The estimated fair value of letters of credit was determined using fees currently charged for similar agreements.

Guarantees and Indemnifications

Guarantees and Indemnifications	6 Months Ended
	Jun. 30, 2017
Guarantees [Abstract]
Guarantees [Text Block]	Guarantees and Indemnifications 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 $37.6 million and $27.6 million were covered under these guarantees as of June 30, 2017 and December 31, 2016 , respectively. The increase in loans covered by these guarantees from December 31, 2016 is a result of a change in the mix of investors and their related purchase terms. A portion of the revenue paid to M/I Financial for providing the guarantees on these loans was deferred at June 30, 2017 , and will be recognized in income as M/I Financial is released from its obligation under the guarantees. The risk associated with the guarantees above is offset by the value of the underlying assets. M/I Financial has received inquiries concerning underwriting matters from purchasers of its loans regarding certain loans totaling approximately $0.7 million and $0.9 million at June 30, 2017 and December 31, 2016 , respectively. 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 June 30, 2017 and December 31, 2016 , the total of all loans indemnified to third party insurers relating to the above agreements was $1.4 million and $1.6 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 $0.8 million and $0.9 million at June 30, 2017 and December 31, 2016 , respectively, which is management’s best estimate of the Company’s liability.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Warranty 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 delivered. Warranty reserves are recorded for warranties under our Home Builder’s Limited Warranty (“HBLW”), and our 30-year (offered on all homes sold after April 25, 1998 and on or before December 1, 2015 in all of our markets except our Texas markets), 15-year (offered on all homes sold after December 1, 2015 in all of our markets except our Texas markets) or 10-year (offered on all homes sold in our Texas markets) transferable structural warranty in Other Liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. The warranty reserves for the HBLW are established as a percentage of average sales price and adjusted based on historical payment patterns determined, generally, by geographic area and recent trends. Factors that are given consideration in determining the HBLW reserves include: (1) the historical range of amounts paid per average sales price on a home; (2) type and mix of amenity packages added to the home; (3) any warranty expenditures not considered to be normal and recurring; (4) timing of payments; (5) improvements in quality of construction expected to impact future warranty expenditures; and (6) conditions that may affect certain projects and require a different percentage of average sales price for those specific projects. Changes in estimates for warranties occur due to changes in the historical payment experience and differences between the actual payment pattern experienced during the period and the historical payment pattern used in our evaluation of the warranty reserve balance at the end of each quarter. Actual future warranty costs could differ from our current estimated amount. Our warranty reserves for our transferable structural warranty programs are established on a per-unit basis. While the structural warranty reserve is recorded as each house is delivered, the sufficiency of the structural warranty per unit charge and total reserve is re-evaluated on an annual basis, with the assistance of an actuary, using our own historical data and trends, industry-wide historical data and trends, and other project specific factors. The reserves are also evaluated quarterly and adjusted if we encounter activity that is inconsistent with the historical experience used in the annual analysis. These reserves are subject to variability due to uncertainties regarding structural defect claims for products we build, the markets in which we build, claim settlement history, insurance and legal interpretations, among other factors. While we believe that our warranty reserves are sufficient to cover our projected costs, there can be no assurances that historical data and trends will accurately predict our actual warranty costs. A summary of warranty activity for the three and six months ended June 30, 2017 and 2016 is as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Warranty reserves, beginning of period $ 24,980 $ 15,295 $ 27,732 $ 14,281 Warranty expense on homes delivered during the period 2,783 2,482 5,212 4,522 Changes in estimates for pre-existing warranties 332 (646 ) 1,062 37 Charges related to stucco-related claims (a) 8,500 2,754 8,500 4,909 Settlements made during the period (6,292 ) (4,070 ) (12,203 ) (7,934 ) Warranty reserves, end of period $ 30,303 $ 15,815 $ 30,303 $ 15,815 (a) Estimated stucco-related claim costs, as described below, have been included in warranty accruals. We have received claims related to stucco installation from homeowners in certain of our communities in our Tampa and Orlando, Florida markets and have been named as a defendant in legal proceedings initiated by certain of such homeowners. These claims primarily relate to homes built prior to 2014 which have second story elevations with frame construction. During 2015, we repaired certain of the identified homes and accrued for the estimated future cost of repairs for the other identified homes on which repairs had yet to be completed. The aggregate amounts of such repair costs and accruals were not material, and the reserve for identified homes in need of more than minor repair at December 31, 2015 was $0.5 million . During 2016, in response to an increased level of claims, we conducted a review of the stucco issues to determine their causes and to enable us to make a reasonable estimate of the overall cost of stucco-related repairs to homes in our Florida communities. Our review included an analysis of a number of factors, including: (1) the date of delivery of each home in our Florida communities and the expiration date of the 10-year statutory period of repose and contractual warranty period with respect to each such home; (2) the number of each type of home (i.e., one story, 1.5 stories or 2 stories); (3) our stucco-related claims experience with respect to each type of home and each individual community; and (4) other relevant factors and observations gained from the field. In connection with such review, we recorded $19.4 million for repair costs for (1) homes in our Florida communities that we had identified as needing repair but have not yet completed the repair and (2) estimated repair costs for homes in our Florida communities that we had not yet identified as needing repair but that may require repair in the future. These charges were included as changes in estimate within our warranty reserve. The remaining reserve for both known repair costs and an estimate of future costs of stucco-related repairs at March 31, 2017 included within our warranty reserve was $8.8 million . During the second quarter of 2017, we continued our review of the stucco issues in our Florida communities. Based on an analysis of the relevant data, including additional data that we had gathered during the period since the 2016 review, we determined to increase our previous estimate of the future stucco-related repair costs in our Florida communities. The three primary factors which contributed to the increase in our estimate were: (1) the incidence of new stucco-related claims did not decline as much as we had previously estimated; (2) we started to receive stucco-related claims in communities which were not included in our previous estimate because we did not have any claims history in those communities; and (3) we incurred higher than estimated costs in completing stucco-related repairs on identified homes. As a result, during the second quarter of 2017, we recorded an additional $8.5 million warranty charge for stucco-related repairs in our Florida communities. The remaining reserve for both known repair costs and an estimate of future costs of stucco-related repairs at June 30, 2017 included within our warranty reserve was $14.1 million . Our review of the stucco-related issues in our Florida communities is ongoing. While we believe that our remaining reserve is sufficient to cover both known and estimated future repair costs, our estimate, as of June 30, 2017 , of future costs of stucco-related repairs is based on our judgment, various assumptions and internal data. Due to the degree of judgment and the potential for variability in our underlying assumptions and data, as we obtain additional information, we may revise our estimate, including to reflect additional estimated future stucco repairs costs, which revision could be material. We also are continuing to investigate the extent to which we may be able to recover a portion of our stucco repair and claims handling costs from other sources, including our direct insurers, the subcontractors involved with the construction of the homes and their insurers. As of June 30, 2017 , we are unable to estimate an amount, if any, that we believe is probable that we will recover from these sources and, accordingly, we have not recorded a receivable for estimated recoveries nor included an estimated amount of recoveries in determining our warranty reserves. Performance Bonds and Letters of Credit At June 30, 2017 , the Company had outstanding approximately $168.6 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 2024 . Included in this total are: (1) $119.1 million of performance and maintenance bonds and $32.8 million of performance letters of credit that serve as completion bonds for land development work in progress; (2) $9.2 million of financial letters of credit, of which $7.7 million represent deposits on land and lot purchase agreements; and (3) $7.5 million of financial bonds. Land Option Contracts and Other Similar Contracts At June 30, 2017 , the Company also had options and contingent purchase agreements to acquire land and developed lots with an aggregate purchase price of approximately $654.7 million . Purchase of properties under these agreements is contingent upon satisfaction of certain requirements by the Company and the sellers. Legal Matters In addition to the legal proceedings related to stucco, the Company and certain of its subsidiaries have been named as defendants in certain other legal proceedings which are incidental to our business. While management currently believes that the ultimate resolution of these other legal proceedings, individually and in the aggregate, will not have a material effect on the Company’s financial position, results of operations and cash flows, such legal proceedings 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 legal proceedings. However, the possibility exists that the costs to resolve these legal proceedings could differ from the recorded estimates and, therefore, have a material effect on the Company’s net income for the periods in which they are resolved. At June 30, 2017 and December 31, 2016 , we had $0.4 million and $0.3 million reserved for legal expenses, respectively. Self-insurance Reserves. Our general liability claims are insured by a third party, subject to a deductible. Effective for home closings occurring on or after July 1, 2017, the Company renewed its general liability insurance coverage which, among other things, changed the structure of our completed operations/construction defect deductible to $10.0 million for the entire company (for closings prior to July 1, 2017, our completed operations/construction defect deductible was $7.5 million for each of our regions), and decreased our third party claims deductible to $250,000 (a decrease from $500,000 for closings prior to July 1, 2017). 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.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Notes Payable - Homebuilding The Credit Facility provides for an aggregate commitment amount of $400 million , including a $125 million sub-facility for letters of credit. The Credit Facility expires on October 20, 2018 . For the quarter ended June 30, 2017 , interest on amounts borrowed under the Credit Facility was payable at either the Alternate Base Rate plus a margin of 150 basis points, or at the Eurodollar Rate plus a margin of 250 basis points. These interest rates are subject to adjustment in subsequent periods based on the Company's leverage ratio. The Credit Facility also contains certain financial covenants. At June 30, 2017 , the Company was in compliance with all financial covenants of the Credit Facility. The available amount under the Credit Facility is computed in accordance with a borrowing base, which is calculated by applying various advance rates for different categories of inventory, and totaled $646.8 million of availability for additional senior debt at June 30, 2017 . As a result, the full $400 million commitment amount of the Credit Facility was available, less any borrowings and letters of credit outstanding. At June 30, 2017 , there were $138.0 million of borrowings outstanding and $41.3 million of letters of credit outstanding, leaving net remaining borrowing availability of $220.7 million . The Company’s obligations under the Credit Facility are guaranteed by all of the Company’s subsidiaries, with the exception of subsidiaries that are primarily engaged in the business of mortgage financing, title insurance or similar financial businesses relating to the homebuilding and home sales business, certain subsidiaries that are not 100%-owned by the Company or another subsidiary, and other subsidiaries designated by the Company as Unrestricted Subsidiaries (as defined in Note 11 ), subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indenture for the 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 (the “Guarantor Subsidiaries”) 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 Company’s $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 Guarantor Subsidiaries and rank equally in right of payment with all our and the Guarantor Subsidiaries’ existing and future unsecured senior indebtedness. Our obligations under the Credit Facility are effectively subordinated to our and the Guarantor Subsidiaries’ existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. Refer to Note 12 for a description of the amendment to the Company’s Credit Facility entered into on July 18, 2017. As of June 30, 2017 , the Company was party to a secured credit agreement for the issuance of letters of credit (the “Letter of Credit Facility”), with a maturity date of September 30, 2017 , which allows for the issuance of letters of credit up to a total of $2.0 million . At both June 30, 2017 and December 31, 2016 , there was $0.6 million of outstanding letters of credit in aggregate under the Company’s Letter of Credit Facility, which were collateralized with $0.6 million of the Company’s cash. Notes Payable — Financial Services The MIF Mortgage Warehousing Agreement is used to finance eligible residential mortgage loans originated by M/I Financial. The Agreement provides a maximum borrowing availability of $125 million . In June 2017 , the Company entered into an amendment to the MIF Mortgage Warehousing Agreement, which, among other things, extended the expiration date to June 22, 2018 and adjusted the interest rate to a per annum rate equal to the greater of (1) the floating LIBOR rate plus a spread of 237.5 basis points and (2) 2.75% . The spread over floating LIBOR had previously been 250 basis points. The amendment also allows the maximum borrowing availability to be increased to $150 million during certain periods of expected increases in the volume of mortgage originations, specifically from September 25, 2017 to October 16, 2017 and from December 15, 2017 to February 2, 2018. The MIF Mortgage Warehousing Agreement also contains certain financial covenants. At June 30, 2017 , M/I Financial was in compliance with all financial covenants of the MIF Mortgage Warehousing Agreement. The MIF Mortgage Repurchase Facility is used to finance eligible residential mortgage loans originated by M/I Financial. In May 2017 , the MIF Repurchase Facility was amended to increase the maximum borrowing availability from $15 million to $35 million . The MIF Mortgage Repurchase Facility expires on October 30, 2017. 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 MIF Mortgage Repurchase Facility also contains certain financial covenants. At June 30, 2017 , M/I Financial was in compliance with all financial covenants of the MIF Mortgage Repurchase Facility. At June 30, 2017 , M/I Financial’s total combined maximum borrowing availability under the two credit facilities was $160.0 million , a decrease from $185.0 million at December 31, 2016 due to the expiration of the seasonal increase on the MIF Mortgage Warehousing Agreement that was in effect from December 15, 2016 through February 1, 2017. At June 30, 2017 and December 31, 2016 , M/I Financial had $89.5 million and $152.9 million outstanding on a combined basis under its credit facilities, respectively. Senior Notes As of both June 30, 2017 and December 31, 2016 , we had $300.0 million of our 2021 Senior Notes outstanding. 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, and mature on January 15, 2021. The 2021 Senior Notes are general, unsecured senior obligations of the Company and the Guarantor Subsidiaries and rank equally in right of payment with all our and the Guarantor Subsidiaries’ existing and future unsecured senior indebtedness. The 2021 Senior Notes are effectively subordinated to our and the Guarantor Subsidiaries’ existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. 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 June 30, 2017 , 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 the Guarantor Subsidiaries. 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 either contributions to the common equity of the Company after December 31, 2016 or the sale of qualified equity interests, plus other items and subject to other exceptions. The restricted payments basket was $154.7 million and $144.9 million at June 30, 2017 and December 31, 2016 , respectively. The determination to pay future dividends on, or make future repurchases of, our common shares or Series A Preferred Shares will be at the discretion of our board of directors and will depend upon our results of operations, financial condition, capital requirements and compliance with debt covenants and the terms of our Series A Preferred Shares, and other factors deemed relevant by our board of directors. Convertible Senior Subordinated Notes As of both June 30, 2017 and December 31, 2016 , we had $86.3 million of our 2018 Convertible Senior Subordinated Notes outstanding. 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 the Guarantor Subsidiaries. The 2018 Convertible Senior Subordinated Notes are senior subordinated unsecured obligations of the Company and the Guarantor Subsidiaries, are subordinated in right of payment to our and the Guarantor Subsidiaries’ existing and future senior indebtedness and are also effectively subordinated to our and the Guarantor Subsidiaries’ 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 requires 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). 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. As of both June 30, 2017 and December 31, 2016 , we had $57.5 million of our 2017 Convertible Senior Subordinated Notes outstanding. 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 the Guarantor Subsidiaries. The 2017 Convertible Senior Subordinated Notes are senior subordinated unsecured obligations of the Company and the Guarantor Subsidiaries, are subordinated in right of payment to our and the Guarantor Subsidiaries’ existing and future senior indebtedness and are also effectively subordinated to our and the Guarantor Subsidiaries’ existing and future secured indebtedness with respect to any assets comprising security or collateral for such indebtedness. The indenture governing the 2017 Convertible Senior Subordinated Notes provides that we may not redeem the notes prior to their stated maturity date, but also contains provisions requiring the Company to repurchase the 2017 Convertible Senior Subordinated Notes (subject to certain exceptions), at a holder’s option, upon the occurrence of a fundamental change (as defined in the indenture). Notes Payable - Other The Company had other borrowings, which are reported in Notes Payable - Other in our Unaudited Condensed Consolidated Balance Sheets, totaling $3.7 million and $6.4 million as of June 30, 2017 and December 31, 2016 , respectively. The balance at December 31, 2016 included a mortgage note payable on our principal executive office building with a principal balance outstanding of $3.4 million , which was subsequently paid off in April of 2017. The remaining balance is made up of other notes payable incurred through the normal course of business.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and six months ended June 30, 2017 and 2016 : Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2017 2016 2017 2016 NUMERATOR Net income $ 16,989 $ 15,916 $ 33,872 $ 25,105 Preferred stock dividends (1,219 ) (1,219 ) (2,438 ) (2,438 ) Net income to common shareholders 15,770 14,697 31,434 22,667 Interest on 3.25% convertible senior subordinated notes due 2017 391 390 782 774 Interest on 3.00% convertible senior subordinated notes due 2018 527 526 1,055 1,043 Diluted income available to common shareholders $ 16,688 $ 15,613 $ 33,271 $ 24,484 DENOMINATOR Basic weighted average shares outstanding 24,990 24,669 24,864 24,663 Effect of dilutive securities: Stock option awards 335 185 330 177 Deferred compensation awards 209 138 192 130 3.25% convertible senior subordinated notes due 2017 2,416 2,416 2,416 2,416 3.00% convertible senior subordinated notes due 2018 2,669 2,669 2,669 2,669 Diluted weighted average shares outstanding - adjusted for assumed conversions 30,619 30,077 30,471 30,055 Earnings per common share: Basic $ 0.63 $ 0.60 $ 1.26 $ 0.92 Diluted $ 0.55 $ 0.52 $ 1.09 $ 0.81 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share — 1,261 47 1,301 For the three and six months ended June 30, 2017 and 2016 , the effect of convertible debt was included in the diluted earnings per share calculations.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes During the three and six months ended June 30, 2017 , the Company recorded a tax provision of $8.2 million and $17.6 million , respectively, which reflects income tax expense related to the period’s income before income taxes. The effective tax rate for the three and six months ended June 30, 2017 was 32.5% and 34.3% , respectively, which included tax expense related to the expected tax benefits for the domestic production activities deduction and excess tax benefits from employee share-based payment transactions exercised during the second quarter of 2017 per ASU 2016-09. During the three and six months ended June 30, 2016 , the Company recorded a tax provision of $9.0 million and $14.6 million , respectively, which reflects income tax expense related to the period’s income before income taxes. The effective tax rate for the three and six months ended June 30, 2016 was 36.2% and 36.7% , respectively, which included tax expense related to the expected tax benefits for the domestic production activities deduction and energy tax credits. During 2016, the Company fully utilized its federal NOL carryforwards and federal credit carryforwards. The Company had $4.7 million of state NOL carryforwards, net of the federal benefit, at June 30, 2017 . Our state NOLs may be carried forward from one to 16 years, depending on the tax jurisdiction, with $1.3 million expiring between 2022 and 2027 and $3.4 million expiring between 2028 and 2032, absent sufficient state taxable income.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2017
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 15 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding reportable segments; and (3) our consolidated financial results. In accordance with ASC 280, Segment Reporting (“ASC 280”), we have identified each homebuilding division as an operating segment as each homebuilding division engages in business activities from which it earns revenue, primarily from the sale and construction of single-family attached and detached homes, acquisition and development of land, and the occasional sale of lots to third parties. Our financial services operations generate revenue primarily from the origination, sale and servicing of mortgage loans and title services primarily for purchasers of the Company’s homes and are included in our financial services reportable segment. In accordance with the aggregation criteria defined in ASC 280, we have determined our reportable segments are 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 Chicago, Illinois Orlando, Florida Charlotte, North Carolina Cincinnati, Ohio Sarasota, Florida Raleigh, North Carolina Columbus, Ohio Tampa, Florida Washington, D.C. Indianapolis, Indiana Austin, Texas Minneapolis/St. Paul, Minnesota Dallas/Fort Worth, Texas Houston, Texas San Antonio, Texas The following table shows, by segment: revenue, operating income and interest expense for the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Revenue: Midwest homebuilding $ 168,469 $ 152,918 $ 314,891 $ 271,088 Southern homebuilding 178,780 148,965 328,145 271,659 Mid-Atlantic homebuilding 97,749 89,415 194,635 162,868 Financial services (a) 11,868 9,949 26,175 20,002 Total revenue $ 456,866 $ 401,247 $ 863,846 $ 725,617 Operating income: Midwest homebuilding $ 17,984 $ 17,987 $ 32,843 $ 28,315 Southern homebuilding (b) 4,709 7,199 13,421 13,629 Mid-Atlantic homebuilding 9,588 7,584 16,841 11,468 Financial services (a) 6,860 5,362 16,090 11,637 Less: Corporate selling, general and administrative expense (10,232 ) (8,956 ) (18,630 ) (16,200 ) Total operating income (b) $ 28,909 $ 29,176 $ 60,565 $ 48,849 Interest expense: Midwest homebuilding $ 863 $ 613 $ 2,240 $ 1,892 Southern homebuilding 1,791 2,136 4,168 4,330 Mid-Atlantic homebuilding 515 1,049 1,431 2,457 Financial services (a) 665 510 1,333 894 Total interest expense $ 3,834 $ 4,308 $ 9,172 $ 9,573 Equity in income of joint venture arrangements (110 ) (82 ) (127 ) (389 ) Income before income taxes $ 25,185 $ 24,950 $ 51,520 $ 39,665 (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 an immaterial amount of mortgage refinancing. (b) Includes an $8.5 million and a $2.8 million charge for stucco-related repair costs in certain of our Florida communities taken during the three months ended June 30, 2017 and 2016, respectively, and an $8.5 million and a $4.9 million charge for stucco-related repair costs in certain of our Florida communities taken during the six months ended June 30, 2017 and 2016, respectively (as more fully discussed in Note 6 ). The following tables show total assets by segment at June 30, 2017 and December 31, 2016 : June 30, 2017 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 6,035 $ 19,272 $ 4,580 $ — $ 29,887 Inventory (a) 464,186 582,405 303,066 — 1,349,657 Investments in joint venture arrangements 4,649 10,333 7,895 — 22,877 Other assets 13,301 35,136 (b) 8,546 171,982 228,965 Total assets $ 488,171 $ 647,146 $ 324,087 $ 171,982 $ 1,631,386 December 31, 2016 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,989 $ 22,607 $ 3,260 $ — $ 29,856 Inventory (a) 399,814 484,038 302,226 — 1,186,078 Investments in joint venture arrangements 10,155 10,630 7,231 — 28,016 Other assets 25,747 35,622 (b) 13,912 229,280 304,561 Total assets $ 439,705 $ 552,897 $ 326,629 $ 229,280 $ 1,548,511 (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) Includes development reimbursements from local municipalities.

Supplemental Guarantor Informat

Supplemental Guarantor Information	6 Months Ended
	Jun. 30, 2017
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 Guarantor Subsidiaries 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 June 30, 2017 , 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. UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 444,998 $ 11,868 $ — $ 456,866 Costs and expenses: Land and housing — 367,598 — — 367,598 General and administrative — 24,915 5,197 — 30,112 Selling — 30,247 — — 30,247 Equity in income of joint venture arrangements — — (110 ) — (110 ) Interest — 3,169 665 — 3,834 Total costs and expenses — 425,929 5,752 — 431,681 Income before income taxes — 19,069 6,116 — 25,185 Provision for income taxes — 6,246 1,950 — 8,196 Equity in subsidiaries 16,989 — — (16,989 ) — Net income 16,989 12,823 4,166 (16,989 ) 16,989 Preferred dividends 1,219 — — — 1,219 Net income to common shareholders $ 15,770 $ 12,823 $ 4,166 $ (16,989 ) $ 15,770 Three Months Ended June 30, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 391,297 $ 9,950 $ — $ 401,247 Costs and expenses: Land and housing — 319,708 — — 319,708 General and administrative — 22,085 4,745 — 26,830 Selling — 25,533 — — 25,533 Equity in income of joint venture arrangements — — (82 ) — (82 ) Interest — 3,798 510 — 4,308 Total costs and expenses — 371,124 5,173 — 376,297 Income before income taxes — 20,173 4,777 — 24,950 Provision for income taxes — 7,442 1,592 — 9,034 Equity in subsidiaries 15,916 — — (15,916 ) — Net income 15,916 12,731 3,185 (15,916 ) 15,916 Preferred dividends 1,219 — — — 1,219 Net income to common shareholders $ 14,697 $ 12,731 $ 3,185 $ (15,916 ) $ 14,697 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 837,671 $ 26,175 $ — $ 863,846 Costs and expenses: Land and housing — 687,879 — — 687,879 General and administrative — 47,375 10,497 57,872 Selling — 57,530 — — 57,530 Equity in income of joint venture arrangements — — (127 ) — (127 ) Interest — 7,839 1,333 — 9,172 Total costs and expenses — 800,623 11,703 — 812,326 Income before income taxes — 37,048 14,472 — 51,520 Provision for income taxes — 12,735 4,913 — 17,648 Equity in subsidiaries 33,872 — — (33,872 ) — Net income 33,872 24,313 9,559 (33,872 ) 33,872 Preferred dividends 2,438 — — — 2,438 Net income to common shareholders $ 31,434 $ 24,313 $ 9,559 $ (33,872 ) $ 31,434 Six Months Ended June 30, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 705,614 $ 20,003 $ — $ 725,617 Costs and expenses: Land and housing — 579,880 — — 579,880 General and administrative — 40,387 8,702 — 49,089 Selling — 47,799 — — 47,799 Equity in income of joint venture arrangements — — (389 ) — (389 ) Interest — 8,679 894 — 9,573 Total costs and expenses — 676,745 9,207 — 685,952 Income before income taxes — 28,869 10,796 — 39,665 Provision for income taxes — 10,886 3,674 — 14,560 Equity in subsidiaries 25,105 — — (25,105 ) — Net income 25,105 17,983 7,122 (25,105 ) 25,105 Preferred dividends 2,438 — — — 2,438 Net income to common shareholders $ 22,667 $ 17,983 $ 7,122 $ (25,105 ) $ 22,667 UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 6,095 $ 23,845 $ — $ 29,940 Mortgage loans held for sale — — 91,986 — 91,986 Inventory — 1,379,544 — — 1,379,544 Property and equipment - net — 21,264 991 — 22,255 Investment in joint venture arrangements — 14,627 8,250 — 22,877 Deferred income taxes, net of valuation allowances — 29,971 107 — 30,078 Investment in subsidiaries 694,380 — — (694,380 ) — Intercompany assets 437,100 — — (437,100 ) — Other assets 1,223 44,030 9,453 — 54,706 TOTAL ASSETS $ 1,132,703 $ 1,495,531 $ 134,632 $ (1,131,480 ) $ 1,631,386 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 112,702 $ 370 $ — $ 113,072 Customer deposits — 29,655 — — 29,655 Intercompany liabilities — 430,472 6,628 (437,100 ) — Other liabilities — 101,238 5,399 — 106,637 Community development district obligations — 5,875 — — 5,875 Obligation for consolidated inventory not owned — 12,263 — — 12,263 Notes payable bank - homebuilding operations — 138,000 — — 138,000 Notes payable bank - financial services operations — — 89,518 — 89,518 Notes payable - other — 3,663 — — 3,663 Convertible senior subordinated notes due 2017 - net 57,380 — — — 57,380 Convertible senior subordinated notes due 2018 - net 85,777 — — — 85,777 Senior notes due 2021 - net 296,229 — — — 296,229 TOTAL LIABILITIES 439,386 833,868 101,915 (437,100 ) 938,069 SHAREHOLDERS’ EQUITY 693,317 661,663 32,717 (694,380 ) 693,317 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,132,703 $ 1,495,531 $ 134,632 $ (1,131,480 ) $ 1,631,386 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 20,927 $ 13,514 $ — $ 34,441 Mortgage loans held for sale — — 154,020 — 154,020 Inventory — 1,215,934 — — 1,215,934 Property and equipment - net — 21,242 1,057 — 22,299 Investment in joint venture arrangements — 12,537 15,479 — 28,016 Deferred income taxes, net of valuation allowances — 30,767 108 — 30,875 Investment in subsidiaries 666,008 — — (666,008 ) — Intercompany assets 424,669 — — (424,669 ) — Other assets 1,690 43,809 17,427 — 62,926 TOTAL ASSETS $ 1,092,367 $ 1,345,216 $ 201,605 $ (1,090,677 ) $ 1,548,511 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 102,663 $ 549 $ — $ 103,212 Customer deposits — 22,156 — — 22,156 Intercompany liabilities — 411,196 13,473 (424,669 ) — Other liabilities — 117,133 6,029 — 123,162 Community development district obligations — 476 — — 476 Obligation for consolidated inventory not owned — 7,528 — — 7,528 Notes payable bank - homebuilding operations — 40,300 — — 40,300 Notes payable bank - financial services operations — — 152,895 — 152,895 Notes payable - other — 6,415 — — 6,415 Convertible senior subordinated notes due 2017 - net 57,093 — — — 57,093 Convertible senior subordinated notes due 2018 - net 85,423 — — — 85,423 Senior notes due 2021 - net 295,677 — — — 295,677 TOTAL LIABILITIES 438,193 707,867 172,946 (424,669 ) 894,337 SHAREHOLDERS’ EQUITY 654,174 637,349 28,659 (666,008 ) 654,174 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,092,367 $ 1,345,216 $ 201,605 $ (1,090,677 ) $ 1,548,511 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 5,500 $ (120,894 ) $ 81,574 $ (5,500 ) $ (39,320 ) INVESTING ACTIVITIES: Purchase of property and equipment — (1,785 ) (87 ) — (1,872 ) Intercompany investing (7,854 ) — — 7,854 — Investments in and advances to joint venture arrangements — (2,128 ) (3,679 ) — (5,807 ) Return of capital from unconsolidated joint ventures — — 1,078 — 1,078 Net proceeds from the sale of mortgage servicing rights — — 7,558 — 7,558 Net cash (used in) provided by investing activities (7,854 ) (3,913 ) 4,870 7,854 957 FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 289,400 — — 289,400 Principal repayments of bank borrowings - homebuilding operations — (191,700 ) — — (191,700 ) Net repayments of bank borrowings - financial services operations — — (63,377 ) — (63,377 ) Principal proceeds from notes payable - other and CDD bond obligations — (2,752 ) — — (2,752 ) Proceeds from exercise of stock options 4,792 — — — 4,792 Intercompany financing — 15,027 (7,173 ) (7,854 ) — Dividends paid (2,438 ) — (5,500 ) 5,500 (2,438 ) Debt issue costs — — (63 ) — (63 ) Net cash provided by (used in) financing activities 2,354 109,975 (76,113 ) (2,354 ) 33,862 Net (decrease) increase in cash, cash equivalents and restricted cash — (14,832 ) 10,331 — (4,501 ) Cash, cash equivalents and restricted cash balance at beginning of period — 20,927 13,514 — 34,441 Cash, cash equivalents and restricted cash balance at end of period $ — $ 6,095 $ 23,845 $ — $ 29,940 Six Months Ended June 30, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities (1) $ 4,938 $ 2,523 $ 38,416 $ (4,938 ) $ 40,939 INVESTING ACTIVITIES: Purchase of property and equipment — (10,996 ) (33 ) — (11,029 ) Intercompany Investing (2,573 ) — — 2,573 — Investments in and advances to joint venture arrangements — (3,525 ) (2,257 ) — (5,782 ) Net cash (used in) provided by investing activities (1) (2,573 ) (14,521 ) (2,290 ) 2,573 (16,811 ) FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 192,200 — — 192,200 Principal repayments of bank borrowings - homebuilding operations — (166,000 ) — — (166,000 ) Net repayments of bank borrowings - financial services operations — — (30,982 ) — (30,982 ) Principal proceeds from notes payable - other and CDD bond obligations — 111 — — 111 Intercompany financing — 15 (5,393 ) 5,378 — Dividends paid (2,438 ) — (4,938 ) 4,938 (2,438 ) Debt issue costs — (153 ) (40 ) — (193 ) Proceeds from exercise of stock options 73 — — — 73 Net cash (used in) provided by financing activities (2,365 ) 26,173 (41,353 ) 10,316 (7,229 ) Net increase (decrease) in cash, cash equivalents and restricted cash — 14,175 (5,227 ) 7,951 16,899 Cash, cash equivalents and restricted cash balance at beginning of period — 2,896 18,156 (7,951 ) 13,101 Cash, cash equivalents and restricted cash balance at end of period $ — $ 17,071 $ 12,929 $ — $ 30,000 (1) During the fourth quarter of 2016, we elected to early-adopt Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . Certain amounts above have been adjusted to apply the new method retrospectively.

Subsequent Event Subsequent Eve

Subsequent Event Subsequent Event (Notes)	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 12. Subsequent Event On July 18, 2017 , the Company entered into an amendment to the Credit Facility (the “Second Amendment”), which, among other things, (a) extended the maturity date of the Credit Facility to July 18, 2021 , (b) streamlined the interest rate to be adjusted daily based on one month LIBOR plus a margin of 250 basis points (the margin is subject to adjustment in subsequent quarterly periods based on the Company’s leverage ratio), (c) increased the maximum borrowing availability under the facility from $400 million to $475 million , and (d) added a $25 million accordion feature under which the maximum borrowing availability can be increased to up to $500 million , subject to obtaining additional commitments. The Credit Facility, as amended by the Second Amendment (the “Amended Credit Facility”), contains various representations, warranties and covenants that the Company considers customary for such facilities. Under the terms of the Amended Credit Facility, we are required, among other things, to maintain compliance with various financial covenants, including a minimum consolidated tangible net worth requirement, a maximum leverage ratio and minimum interest coverage requirement. The Second Amendment did not change these or the other financial covenants in the Credit Facility, except that the minimum consolidated tangible net worth requirement was reset to a minimum of $465.2 million (subject to increases over time based on earnings and proceeds from equity offerings after March 31, 2017).

Inventory and Capitalized Int19

Inventory and Capitalized Interest Inventory (Tables)	6 Months Ended
	Jun. 30, 2017
Inventory [Abstract]
Schedule of Inventory, Current [Table Text Block]	A summary of the Company’s inventory as of June 30, 2017 and December 31, 2016 is as follows: (In thousands) June 30, 2017 December 31, 2016 Single-family lots, land and land development costs $ 637,268 $ 602,528 Land held for sale 17,051 12,155 Homes under construction 600,376 494,664 Model homes and furnishings - at cost (less accumulated depreciation: June 30, 2017 - $13,413; December 31, 2016 - $11,835) 76,824 68,727 Community development district infrastructure 5,875 476 Land purchase deposits 29,887 29,856 Consolidated inventory not owned 12,263 7,528 Total inventory $ 1,379,544 $ 1,215,934
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	The summary of capitalized interest for the three and six months ended June 30, 2017 and 2016 is as follows : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Capitalized interest, beginning of period $ 16,008 $ 16,952 $ 16,012 $ 16,740 Interest capitalized to inventory 5,300 4,497 9,062 8,253 Capitalized interest charged to land and housing costs and expenses (4,843 ) (4,631 ) (8,609 ) (8,175 ) Capitalized interest, end of period $ 16,465 $ 16,818 $ 16,465 $ 16,818 Interest incurred $ 9,134 $ 8,805 $ 18,234 $ 17,826

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 : Description of Financial Instrument (in thousands) June 30, 2017 December 31, 2016 Best efforts contracts and related committed IRLCs $ 9,555 $ 6,607 Uncommitted IRLCs 109,140 66,875 FMBSs related to uncommitted IRLCs 109,000 66,000 Best efforts contracts and related mortgage loans held for sale 8,324 125,348 FMBSs related to mortgage loans held for sale 82,284 33,000 Mortgage loans held for sale covered by FMBSs 82,330 32,870
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 June 30, 2017 and December 31, 2016 : Description of Financial Instrument (in thousands) Fair Value Measurements June 30, 2017 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 $ 91,986 $ — $ 91,986 $ — Forward sales of mortgage-backed securities 599 — 599 — Interest rate lock commitments 344 — 344 — Best-efforts contracts (19 ) — (19 ) — Total $ 92,910 $ — $ 92,910 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2016 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 $ 154,020 $ — $ 154,020 $ — Forward sales of mortgage-backed securities 230 — 230 — Interest rate lock commitments 250 — 250 — Best-efforts contracts (90 ) — (90 ) — Total $ 154,410 $ — $ 154,410 $ —
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]	The following table sets forth the amount of gain (loss) recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, Description (in thousands) 2017 2016 2017 2016 Mortgage loans held for sale $ (484 ) $ 826 $ 4,390 $ 2,186 Forward sales of mortgage-backed securities 1,280 (922 ) 369 (1,688 ) Interest rate lock commitments (748 ) 350 94 919 Best-efforts contracts 305 (53 ) 71 16 Total gain recognized $ 353 $ 201 $ 4,924 $ 1,433
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following tables set forth the fair value of the Company’s derivative instruments and their location within the Unaudited Condensed Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item): Asset Derivatives Liability Derivatives June 30, 2017 June 30, 2017 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 $ 599 Other liabilities $ — Interest rate lock commitments Other assets 344 Other liabilities — Best-efforts contracts Other assets — Other liabilities 19 Total fair value measurements $ 943 $ 19 Asset Derivatives Liability Derivatives December 31, 2016 December 31, 2016 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 $ 230 Other liabilities $ — Interest rate lock commitments Other assets 250 Other liabilities — Best-efforts contracts Other assets — Other liabilities 90 Total fair value measurements $ 480 $ 90
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 June 30, 2017 and December 31, 2016 . The objective of the fair value measurement is to estimate the price at which an orderly transaction to sell the asset or transfer the liability would take place between market participants at the measurement date under current market conditions. June 30, 2017 December 31, 2016 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 29,940 $ 29,940 $ 34,441 $ 34,441 Mortgage loans held for sale 91,986 91,986 154,020 154,020 Split dollar life insurance policies 212 212 214 214 Notes receivable 162 146 763 687 Commitments to extend real estate loans 344 344 250 250 Forward sales of mortgage-backed securities 599 599 230 230 Liabilities: Notes payable - homebuilding operations 138,000 138,000 40,300 40,300 Notes payable - financial services operations 89,518 89,518 152,895 152,895 Notes payable - other 3,663 3,434 6,415 5,999 Convertible senior subordinated notes due 2017 (a) 57,500 69,791 57,500 65,957 Convertible senior subordinated notes due 2018 (a) 86,250 89,053 86,250 88,105 Senior notes due 2021 (a) 300,000 315,000 300,000 314,250 Best-efforts contracts for committed IRLCs and mortgage loans held for sale 19 19 90 90 Forward sales of mortgage-backed securities — — — — Off-Balance Sheet Financial Instruments: Letters of credit — 924 — 702 (a) Our senior notes and convertible senior subordinated notes are stated at the principal amount outstanding which does not include the impact of premiums, discounts, and debt issuance costs that are amortized to interest cost over the respective terms of the notes.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2017
Warranty Accrual Rollforward [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	A summary of warranty activity for the three and six months ended June 30, 2017 and 2016 is as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Warranty reserves, beginning of period $ 24,980 $ 15,295 $ 27,732 $ 14,281 Warranty expense on homes delivered during the period 2,783 2,482 5,212 4,522 Changes in estimates for pre-existing warranties 332 (646 ) 1,062 37 Charges related to stucco-related claims (a) 8,500 2,754 8,500 4,909 Settlements made during the period (6,292 ) (4,070 ) (12,203 ) (7,934 ) Warranty reserves, end of period $ 30,303 $ 15,815 $ 30,303 $ 15,815 (a) Estimated stucco-related claim costs, as described below, have been included in warranty accruals.

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and six months ended June 30, 2017 and 2016 : Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2017 2016 2017 2016 NUMERATOR Net income $ 16,989 $ 15,916 $ 33,872 $ 25,105 Preferred stock dividends (1,219 ) (1,219 ) (2,438 ) (2,438 ) Net income to common shareholders 15,770 14,697 31,434 22,667 Interest on 3.25% convertible senior subordinated notes due 2017 391 390 782 774 Interest on 3.00% convertible senior subordinated notes due 2018 527 526 1,055 1,043 Diluted income available to common shareholders $ 16,688 $ 15,613 $ 33,271 $ 24,484 DENOMINATOR Basic weighted average shares outstanding 24,990 24,669 24,864 24,663 Effect of dilutive securities: Stock option awards 335 185 330 177 Deferred compensation awards 209 138 192 130 3.25% convertible senior subordinated notes due 2017 2,416 2,416 2,416 2,416 3.00% convertible senior subordinated notes due 2018 2,669 2,669 2,669 2,669 Diluted weighted average shares outstanding - adjusted for assumed conversions 30,619 30,077 30,471 30,055 Earnings per common share: Basic $ 0.63 $ 0.60 $ 1.26 $ 0.92 Diluted $ 0.55 $ 0.52 $ 1.09 $ 0.81 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share — 1,261 47 1,301

Business Segments Business Segm

Business Segments Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Business Segments [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table shows, by segment: revenue, operating income and interest expense for the three and six months ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Revenue: Midwest homebuilding $ 168,469 $ 152,918 $ 314,891 $ 271,088 Southern homebuilding 178,780 148,965 328,145 271,659 Mid-Atlantic homebuilding 97,749 89,415 194,635 162,868 Financial services (a) 11,868 9,949 26,175 20,002 Total revenue $ 456,866 $ 401,247 $ 863,846 $ 725,617 Operating income: Midwest homebuilding $ 17,984 $ 17,987 $ 32,843 $ 28,315 Southern homebuilding (b) 4,709 7,199 13,421 13,629 Mid-Atlantic homebuilding 9,588 7,584 16,841 11,468 Financial services (a) 6,860 5,362 16,090 11,637 Less: Corporate selling, general and administrative expense (10,232 ) (8,956 ) (18,630 ) (16,200 ) Total operating income (b) $ 28,909 $ 29,176 $ 60,565 $ 48,849 Interest expense: Midwest homebuilding $ 863 $ 613 $ 2,240 $ 1,892 Southern homebuilding 1,791 2,136 4,168 4,330 Mid-Atlantic homebuilding 515 1,049 1,431 2,457 Financial services (a) 665 510 1,333 894 Total interest expense $ 3,834 $ 4,308 $ 9,172 $ 9,573 Equity in income of joint venture arrangements (110 ) (82 ) (127 ) (389 ) Income before income taxes $ 25,185 $ 24,950 $ 51,520 $ 39,665 (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 an immaterial amount of mortgage refinancing. (b) Includes an $8.5 million and a $2.8 million charge for stucco-related repair costs in certain of our Florida communities taken during the three months ended June 30, 2017 and 2016, respectively, and an $8.5 million and a $4.9 million charge for stucco-related repair costs in certain of our Florida communities taken during the six months ended June 30, 2017 and 2016, respectively (as more fully discussed in Note 6 ). The following tables show total assets by segment at June 30, 2017 and December 31, 2016 : June 30, 2017 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 6,035 $ 19,272 $ 4,580 $ — $ 29,887 Inventory (a) 464,186 582,405 303,066 — 1,349,657 Investments in joint venture arrangements 4,649 10,333 7,895 — 22,877 Other assets 13,301 35,136 (b) 8,546 171,982 228,965 Total assets $ 488,171 $ 647,146 $ 324,087 $ 171,982 $ 1,631,386 December 31, 2016 (In thousands) Midwest Southern Mid-Atlantic Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,989 $ 22,607 $ 3,260 $ — $ 29,856 Inventory (a) 399,814 484,038 302,226 — 1,186,078 Investments in joint venture arrangements 10,155 10,630 7,231 — 28,016 Other assets 25,747 35,622 (b) 13,912 229,280 304,561 Total assets $ 439,705 $ 552,897 $ 326,629 $ 229,280 $ 1,548,511 (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) Includes development reimbursements from local municipalities.

Supplemental Guarantor Inform24

Supplemental Guarantor Information Supplemental Guarantor Information (Tables)	6 Months Ended
	Jun. 30, 2017
Supplemental Guarantor Information [Abstract]
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 444,998 $ 11,868 $ — $ 456,866 Costs and expenses: Land and housing — 367,598 — — 367,598 General and administrative — 24,915 5,197 — 30,112 Selling — 30,247 — — 30,247 Equity in income of joint venture arrangements — — (110 ) — (110 ) Interest — 3,169 665 — 3,834 Total costs and expenses — 425,929 5,752 — 431,681 Income before income taxes — 19,069 6,116 — 25,185 Provision for income taxes — 6,246 1,950 — 8,196 Equity in subsidiaries 16,989 — — (16,989 ) — Net income 16,989 12,823 4,166 (16,989 ) 16,989 Preferred dividends 1,219 — — — 1,219 Net income to common shareholders $ 15,770 $ 12,823 $ 4,166 $ (16,989 ) $ 15,770 Three Months Ended June 30, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 391,297 $ 9,950 $ — $ 401,247 Costs and expenses: Land and housing — 319,708 — — 319,708 General and administrative — 22,085 4,745 — 26,830 Selling — 25,533 — — 25,533 Equity in income of joint venture arrangements — — (82 ) — (82 ) Interest — 3,798 510 — 4,308 Total costs and expenses — 371,124 5,173 — 376,297 Income before income taxes — 20,173 4,777 — 24,950 Provision for income taxes — 7,442 1,592 — 9,034 Equity in subsidiaries 15,916 — — (15,916 ) — Net income 15,916 12,731 3,185 (15,916 ) 15,916 Preferred dividends 1,219 — — — 1,219 Net income to common shareholders $ 14,697 $ 12,731 $ 3,185 $ (15,916 ) $ 14,697 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 837,671 $ 26,175 $ — $ 863,846 Costs and expenses: Land and housing — 687,879 — — 687,879 General and administrative — 47,375 10,497 57,872 Selling — 57,530 — — 57,530 Equity in income of joint venture arrangements — — (127 ) — (127 ) Interest — 7,839 1,333 — 9,172 Total costs and expenses — 800,623 11,703 — 812,326 Income before income taxes — 37,048 14,472 — 51,520 Provision for income taxes — 12,735 4,913 — 17,648 Equity in subsidiaries 33,872 — — (33,872 ) — Net income 33,872 24,313 9,559 (33,872 ) 33,872 Preferred dividends 2,438 — — — 2,438 Net income to common shareholders $ 31,434 $ 24,313 $ 9,559 $ (33,872 ) $ 31,434 Six Months Ended June 30, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 705,614 $ 20,003 $ — $ 725,617 Costs and expenses: Land and housing — 579,880 — — 579,880 General and administrative — 40,387 8,702 — 49,089 Selling — 47,799 — — 47,799 Equity in income of joint venture arrangements — — (389 ) — (389 ) Interest — 8,679 894 — 9,573 Total costs and expenses — 676,745 9,207 — 685,952 Income before income taxes — 28,869 10,796 — 39,665 Provision for income taxes — 10,886 3,674 — 14,560 Equity in subsidiaries 25,105 — — (25,105 ) — Net income 25,105 17,983 7,122 (25,105 ) 25,105 Preferred dividends 2,438 — — — 2,438 Net income to common shareholders $ 22,667 $ 17,983 $ 7,122 $ (25,105 ) $ 22,667
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 6,095 $ 23,845 $ — $ 29,940 Mortgage loans held for sale — — 91,986 — 91,986 Inventory — 1,379,544 — — 1,379,544 Property and equipment - net — 21,264 991 — 22,255 Investment in joint venture arrangements — 14,627 8,250 — 22,877 Deferred income taxes, net of valuation allowances — 29,971 107 — 30,078 Investment in subsidiaries 694,380 — — (694,380 ) — Intercompany assets 437,100 — — (437,100 ) — Other assets 1,223 44,030 9,453 — 54,706 TOTAL ASSETS $ 1,132,703 $ 1,495,531 $ 134,632 $ (1,131,480 ) $ 1,631,386 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 112,702 $ 370 $ — $ 113,072 Customer deposits — 29,655 — — 29,655 Intercompany liabilities — 430,472 6,628 (437,100 ) — Other liabilities — 101,238 5,399 — 106,637 Community development district obligations — 5,875 — — 5,875 Obligation for consolidated inventory not owned — 12,263 — — 12,263 Notes payable bank - homebuilding operations — 138,000 — — 138,000 Notes payable bank - financial services operations — — 89,518 — 89,518 Notes payable - other — 3,663 — — 3,663 Convertible senior subordinated notes due 2017 - net 57,380 — — — 57,380 Convertible senior subordinated notes due 2018 - net 85,777 — — — 85,777 Senior notes due 2021 - net 296,229 — — — 296,229 TOTAL LIABILITIES 439,386 833,868 101,915 (437,100 ) 938,069 SHAREHOLDERS’ EQUITY 693,317 661,663 32,717 (694,380 ) 693,317 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,132,703 $ 1,495,531 $ 134,632 $ (1,131,480 ) $ 1,631,386 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 20,927 $ 13,514 $ — $ 34,441 Mortgage loans held for sale — — 154,020 — 154,020 Inventory — 1,215,934 — — 1,215,934 Property and equipment - net — 21,242 1,057 — 22,299 Investment in joint venture arrangements — 12,537 15,479 — 28,016 Deferred income taxes, net of valuation allowances — 30,767 108 — 30,875 Investment in subsidiaries 666,008 — — (666,008 ) — Intercompany assets 424,669 — — (424,669 ) — Other assets 1,690 43,809 17,427 — 62,926 TOTAL ASSETS $ 1,092,367 $ 1,345,216 $ 201,605 $ (1,090,677 ) $ 1,548,511 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 102,663 $ 549 $ — $ 103,212 Customer deposits — 22,156 — — 22,156 Intercompany liabilities — 411,196 13,473 (424,669 ) — Other liabilities — 117,133 6,029 — 123,162 Community development district obligations — 476 — — 476 Obligation for consolidated inventory not owned — 7,528 — — 7,528 Notes payable bank - homebuilding operations — 40,300 — — 40,300 Notes payable bank - financial services operations — — 152,895 — 152,895 Notes payable - other — 6,415 — — 6,415 Convertible senior subordinated notes due 2017 - net 57,093 — — — 57,093 Convertible senior subordinated notes due 2018 - net 85,423 — — — 85,423 Senior notes due 2021 - net 295,677 — — — 295,677 TOTAL LIABILITIES 438,193 707,867 172,946 (424,669 ) 894,337 SHAREHOLDERS’ EQUITY 654,174 637,349 28,659 (666,008 ) 654,174 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,092,367 $ 1,345,216 $ 201,605 $ (1,090,677 ) $ 1,548,511
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2017 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 5,500 $ (120,894 ) $ 81,574 $ (5,500 ) $ (39,320 ) INVESTING ACTIVITIES: Purchase of property and equipment — (1,785 ) (87 ) — (1,872 ) Intercompany investing (7,854 ) — — 7,854 — Investments in and advances to joint venture arrangements — (2,128 ) (3,679 ) — (5,807 ) Return of capital from unconsolidated joint ventures — — 1,078 — 1,078 Net proceeds from the sale of mortgage servicing rights — — 7,558 — 7,558 Net cash (used in) provided by investing activities (7,854 ) (3,913 ) 4,870 7,854 957 FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 289,400 — — 289,400 Principal repayments of bank borrowings - homebuilding operations — (191,700 ) — — (191,700 ) Net repayments of bank borrowings - financial services operations — — (63,377 ) — (63,377 ) Principal proceeds from notes payable - other and CDD bond obligations — (2,752 ) — — (2,752 ) Proceeds from exercise of stock options 4,792 — — — 4,792 Intercompany financing — 15,027 (7,173 ) (7,854 ) — Dividends paid (2,438 ) — (5,500 ) 5,500 (2,438 ) Debt issue costs — — (63 ) — (63 ) Net cash provided by (used in) financing activities 2,354 109,975 (76,113 ) (2,354 ) 33,862 Net (decrease) increase in cash, cash equivalents and restricted cash — (14,832 ) 10,331 — (4,501 ) Cash, cash equivalents and restricted cash balance at beginning of period — 20,927 13,514 — 34,441 Cash, cash equivalents and restricted cash balance at end of period $ — $ 6,095 $ 23,845 $ — $ 29,940 Six Months Ended June 30, 2016 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated OPERATING ACTIVITIES: Net cash provided by (used in) operating activities (1) $ 4,938 $ 2,523 $ 38,416 $ (4,938 ) $ 40,939 INVESTING ACTIVITIES: Purchase of property and equipment — (10,996 ) (33 ) — (11,029 ) Intercompany Investing (2,573 ) — — 2,573 — Investments in and advances to joint venture arrangements — (3,525 ) (2,257 ) — (5,782 ) Net cash (used in) provided by investing activities (1) (2,573 ) (14,521 ) (2,290 ) 2,573 (16,811 ) FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 192,200 — — 192,200 Principal repayments of bank borrowings - homebuilding operations — (166,000 ) — — (166,000 ) Net repayments of bank borrowings - financial services operations — — (30,982 ) — (30,982 ) Principal proceeds from notes payable - other and CDD bond obligations — 111 — — 111 Intercompany financing — 15 (5,393 ) 5,378 — Dividends paid (2,438 ) — (4,938 ) 4,938 (2,438 ) Debt issue costs — (153 ) (40 ) — (193 ) Proceeds from exercise of stock options 73 — — — 73 Net cash (used in) provided by financing activities (2,365 ) 26,173 (41,353 ) 10,316 (7,229 ) Net increase (decrease) in cash, cash equivalents and restricted cash — 14,175 (5,227 ) 7,951 16,899 Cash, cash equivalents and restricted cash balance at beginning of period — 2,896 18,156 (7,951 ) 13,101 Cash, cash equivalents and restricted cash balance at end of period $ — $ 17,071 $ 12,929 $ — $ 30,000 (1) During the fourth quarter of 2016, we elected to early-adopt Accounting Standards Update 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . Certain amounts above have been adjusted to apply the new method retrospectively.

Inventory and Capitalized Int25

Inventory and Capitalized Interest Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventory [Abstract]
Single-family lots, land and land development costs	$ 637,268	$ 602,528
Land held for sale	17,051	12,155
Homes under construction	600,376	494,664
Model homes and furnishings - at cost (less accumulated depreciation: June 30, 2017 - $13,413; December 31, 2016 - $11,835)	76,824	68,727
Community development district	5,875	476
Land purchase deposits	29,887	29,856
Consolidated inventory not owned	12,263	7,528
Total Inventory	$ 1,379,544	$ 1,215,934

Inventory and Capitalized Int26

Inventory and Capitalized Interest Inventory Parentheticals (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Parantheticals - Inventory [Abstract]
Model Home Accumulated Depreciation	$ 13,413	$ 11,835

Inventory and Capitalized Int27

Inventory and Capitalized Interest Other Inventory Items - Homes under construction not subject to a sale contract (Details) $ in Thousands	Jun. 30, 2017USD ($)homes	Dec. 31, 2016USD ($)
Other Inventory, Gross [Abstract]
Number of Speculative Homes	1,093	996
Speculative Homes Carrying Value	$ 210,800	$ 199,400
Community development district	$ 5,875	$ 476

Inventory and Capitalized Int28

Inventory and Capitalized Interest Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized Interest, beginning of period	$ 16,008	$ 16,952	$ 16,012	$ 16,740
Interest capitalized to inventory	5,300	4,497	9,062	8,253
Capitalized interest charged to land and housing costs and expenses	(4,843)	(4,631)	(8,609)	(8,175)
Capitalized Interest, end of period	16,465	16,818	16,465	16,818
Interest incurred	$ 9,134	$ 8,805	$ 18,234	$ 17,826

Investment in Unconsolidated 29

Investment in Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Increase (decrease) in Investments in Unconsolidated JVs and other joint agreements	$ (5,100)
Investment in joint venture arrangements	22,877		$ 28,016
Distribution of single-family lots from joint venture arrangements	9,995	$ 14,978
Investment in joint venture arrangements	$ 5,807	$ 5,782
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	97.00%
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	25.00%

Fair Value Measurements Notiona

Fair Value Measurements Notional Amount of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Notional Disclosures [Abstract]
Best efforts contracts and related committed IRLCs	$ 9,555	$ 6,607
Uncommitted IRLCs	109,140	66,875
FMBSs related to uncommitted IRLCs	109,000	66,000
Best efforts contracts and related mortgage loans held for sale	8,324	125,348
FMBSs related to mortgage loans held for sale	82,284	33,000
Mortgage loans held for sale covered by FMBSs	$ 82,330	$ 32,870

Fair Value Measurements Assets

Fair Value Measurements Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
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	92,910	154,410
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] | 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	91,986	154,020
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 of 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 of 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	599	230
Forward Sales of 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] | 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	344	250
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] | 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	(19)	(90)
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, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	92,910	154,410
Fair Value, Measurements, Recurring [Member] | Mortgage Loans Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	91,986	154,020
Fair Value, Measurements, Recurring [Member] | Forward Sales of Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	599	230
Fair Value, Measurements, Recurring [Member] | Interest Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	344	250
Fair Value, Measurements, Recurring [Member] | Best Efforts Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure, Recurring	$ (19)	$ (90)

Fair Value Measurements (Loss)

Fair Value Measurements (Loss) Gain On Assets and Liabilities Measured On A Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	$ 353	$ 201	$ 4,924	$ 1,433
Mortgage Loans Held for Sale [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	(484)	826	4,390	2,186
Forward Sales of Mortgage Backed Securities [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	1,280	(922)	369	(1,688)
Interest Rate Lock Commitments [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	(748)	350	94	919
Best Efforts Contracts [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	$ 305	$ (53)	$ 71	$ 16

Fair Value Measurements Balance

Fair Value Measurements Balance Sheet Location of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	$ 943	$ 480
Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	19	90
Forward Sales of Mortgage Backed Securities [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	599	230
Forward Sales of Mortgage Backed Securities [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	0	0
Interest Rate Lock Commitments [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	344	250
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	0
Best Efforts Contracts [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	$ 19	$ 90

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Cash, cash equivalents and restricted cash	$ 29,940	$ 34,441
Carrying (Reported) Amount, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	29,940	34,441
Mortgage loans held for sale	91,986	154,020
Split dollar life insurance policies	212	214
Notes receivable	162	763
Commitments to extend real estate loans (assets)	344	250
Forward sales of mortgage-backed securities	599	230
LIABILITIES:
Notes Payable - Homebuilding Fair Value Disclosure	138,000	40,300
Notes Payable - Financial Services Fair Value Disclosure	89,518	152,895
Notes payable - other	3,663	6,415
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 due 2021	300,000	300,000
Best efforts contracts for committed IRLCs and mortgage loans held for sale	19	90
Forward sales of mortgage-backed securities	0	0
Off-Balance Sheet Letters of Credit	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	29,940	34,441
Mortgage loans held for sale	91,986	154,020
Split dollar life insurance policies	212	214
Notes receivable	146	687
Commitments to extend real estate loans (assets)	344	250
Forward sales of mortgage-backed securities	599	230
LIABILITIES:
Notes Payable - Homebuilding Fair Value Disclosure	138,000	40,300
Notes Payable - Financial Services Fair Value Disclosure	89,518	152,895
Notes payable - other	3,434	5,999
Convertible senior subordinated notes due 2017 - Fair Value Disclosure	69,791	65,957
Convertible senior subordinated notes due 2018 - Fair Value Disclosure	89,053	88,105
Senior notes due 2021	315,000	314,250
Best efforts contracts for committed IRLCs and mortgage loans held for sale	19	90
Forward sales of mortgage-backed securities	0	0
Off-Balance Sheet Letters of Credit	$ 924	$ 702

Fair Value Measurements Fair 35

Fair Value Measurements Fair Value of Financial Instrument Assumptions (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Fair Value of Financial Instrument Assumptions [Line Items]
Letters of Credit Potential Commitments, Amount	$ 41.9	$ 37.7
First Amendment to New Unsecured Credit Facility [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	400
Warehousing Agreement - Second Amended and Restated [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	125
M/I Financial Temporary Increase Maximum Borrowing Capacity	150
Repurchase Agreement [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	15
Repurchase Agreement - Amendment No. 4 [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 35

Guarantees and Indemnificatio36

Guarantees and Indemnifications Guarantees (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Guarantees [Abstract]
Total of Loans Covered by Guarantees	$ 37,600	$ 27,600
Total of Guaranteed Loans Inquired About	700	900
Total Loans Indemnified to third parties	1,400	1,600
Loan Repurchase Guarantee Liability	$ 800	$ 900

Commitments and Contingencies W

Commitments and Contingencies Warranty Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Warranty Accrual Rollforward [Abstract]
Warranty reserves, beginning of period	$ 24,980	$ 15,295	$ 27,732	$ 14,281
Warranty expense on homes delivered during the period	2,783	2,482	5,212	4,522
Changes in estimates for pre-existing warranties	332	(646)	1,062	37
Charges related to stucco-related claims	8,500	2,754	8,500	4,909
Settlements made during the period	(6,292)	(4,070)	(12,203)	(7,934)
Warranty reserves, end of period	$ 30,303	$ 15,815	$ 30,303	$ 15,815

Commitments and Contingencies L

Commitments and Contingencies Legal Liabilities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Product Liability Accrual, Component Amount					$ 8,800,000	$ 19,400,000	$ 500,000
Charges related to stucco-related claims	$ 8,500,000	$ 2,754,000	$ 8,500,000	$ 4,909,000
Estimated Repair Costs for Affected Homes	14,100,000		14,100,000
Amount Reserved for Legal Expenses	400,000		400,000			$ 300,000
General Liability Insurance Deductible	10,000,000		10,000,000		7,500,000
Workers Compensation	$ 250,000		$ 250,000		$ 500,000

Commitments and Contingencies39

Commitments and Contingencies Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2017USD ($)
Commitments and Contingencies [Abstract]
Letters of credit and completion bonds	$ 168.6
Performance bonds outstanding	119.1
Performance letters of credit outstanding	32.8
Financial letters of credit	9.2
Financial letters of credit representing deposits on land and lot purchase agreements	7.7
Financial Bonds	7.5
Unrecorded conditional purchase obligation	$ 654.7

Debt Debt (Details)

Debt Debt (Details) $ in Thousands	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount	$ 646,800
Notes payable bank - homebuilding operations	138,000	$ 40,300
letters of credit outstanding under credit facility	41,300
Maximum borrowing availability subject to limit	220,700
Aggregate Capacity of Secured Letters of Credit under Credit Facility	2,000
Letters of Credit Outstanding Under Letter of Credit Facilities	622	624
Restricted Cash for Secured Letter of Credit Agreements	629	$ 630
First Amendment to New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Sub-limit for letters of credit	125,000
Line of Credit Facility, Maximum Borrowing Capacity	400,000
2021 Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%
2017 Convertible Senior Notes [Member]
Line of Credit Facility [Line Items]
Convertible Subordinated Debt	$ 57,500
Debt Instrument, Interest Rate, Stated Percentage	3.25%
2018 Convertible Senior Notes [Member]
Line of Credit Facility [Line Items]
Convertible Subordinated Debt	$ 86,250
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Maximum [Member] | First Amendment to New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	250
Minimum [Member] | First Amendment to New Unsecured Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	150

Debt MIF Warehousing Agreement

Debt MIF Warehousing Agreement (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Maximum Borrowing Availability under all Credit Lines	$ 160,000	$ 185,000
Notes payable bank - financial service operations	89,518	$ 152,895
Warehousing Agreement - Second Amended and Restated [Member]
Debt Instrument [Line Items]
M/I Financial Maximum Borrowing Capacity	125,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 150,000
LIBOR basis points	250
Warehousing Agreement - First Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
LIBOR basis points	237.5
Debt Instrument, Basis Spread on Variable Rate	2.75%
Repurchase Agreement [Member]
Debt Instrument [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 15,000
Repurchase Agreement - Amendment No. 4 [Member]
Debt Instrument [Line Items]
M/I Financial Maximum Borrowing Capacity	$ 35,000
Minimum [Member] | Repurchase Agreement [Member]
Debt Instrument [Line Items]
LIBOR basis points	250
Maximum [Member] | Repurchase Agreement [Member]
Debt Instrument [Line Items]
LIBOR basis points	275

Debt Senior Notes (Details)

Debt Senior Notes (Details) $ / shares in Units, shares in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares	Jan. 15, 2021	Jan. 14, 2020	Jan. 14, 2019	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Preferred Stock, Dividend Rate, Percentage	9.75%
Restricted Payments Basket	$ 154,700,000				$ 144,900,000
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		100.00%	101.688%	103.375%
2017 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior subordinated notes	$ 57,500,000
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Debt Instrument, Convertible, Conversion Ratio	42.0159
Debt Instrument Convertible Principal Amount Used In Conversion Rate Calculation	$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 23.80
Stock Issued During Period, Shares, Other | shares	2.4
2018 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior subordinated notes	$ 86,250,000
Debt Instrument, Interest Rate, Stated Percentage	3.00%
Debt Instrument, Convertible, Conversion Ratio	30.9478
Debt Instrument Convertible Principal Amount Used In Conversion Rate Calculation	$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 32.31
Stock Issued During Period, Shares, Other | shares	2.7
Base of restricted payments basket income calculation [Member]
Debt Instrument [Line Items]
Other Restrictions on Payment of Dividends	$ 125,000,000
Percentage of our aggregate consolidated net income added to base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	50.00%
Percentage of our aggregate consolidated net income subtracted from base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	100.00%
Percentage of net cash proceeds from sale of qualified equity interests added to base and income/loss amount in calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	100.00%

Debt Notes Payable Other (Detai

Debt Notes Payable Other (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Notes payable - other	$ 3,663	$ 6,415
Secured Debt		$ 3,400

Earnings per Share Earnings p44

Earnings per Share Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share Calculation [Line Items]
Net Income, Including Portion Attributable to Noncontrolling Interest	$ 16,989	$ 15,916	$ 33,872	$ 25,105
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Preferred Dividends	(1,219)	(1,219)	(2,438)	(2,438)
Net income to common shareholders	15,770	14,697	31,434	22,667
Net Income Available to Common Stockholders, Diluted	$ 16,688	$ 15,613	$ 33,271	$ 24,484
Weighted Average Number of Shares Outstanding, Basic	24,990	24,669	24,864	24,663
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Stock Options	335	185	330	177
Incremental Common Shares Attributable to Deferred Compensation	209	138	192	130
Weighted Average Number of Shares Outstanding, Diluted	30,619	30,077	30,471	30,055
Earnings Per Share, Basic	$ 0.63	$ 0.60	$ 1.26	$ 0.92
Earnings Per Share, Diluted	$ 0.55	$ 0.52	$ 1.09	$ 0.81
Anti-dilutive stock equivalent awards not included in the calculation of diluted loss per share	0	1,261	47	1,301
2017 Convertible Senior Notes [Member]
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Interest on Convertible Debt, Net of Tax	$ 391	$ 390	$ 782	$ 774
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Conversion of Debt Securities	2,416	2,416	2,416	2,416
2018 Convertible Senior Notes [Member]
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Interest on Convertible Debt, Net of Tax	$ 527	$ 526	$ 1,055	$ 1,043
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Conversion of Debt Securities	2,669	2,669	2,669	2,669

Income Taxes Income Tax (Narrat

Income Taxes Income Tax (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Valuation Allowance [Line Items]
Provision for income taxes	$ 8,196	$ 9,034	$ 17,648	$ 14,560
Effective Income Tax Rate Reconciliation, Percent	32.50%	36.20%	34.30%	36.70%

Income Taxes Net Operating Loss

Income Taxes Net Operating Loss Carryforwards (Details) - State and Local Jurisdiction [Member] $ in Millions	Jun. 30, 2017USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 4.7
Expiring between 2028 and 2032 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	3.4
Expiring between 2022 and 2027 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1.3

Business Segments Business Se47

Business Segments Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Revenue	$ 456,866	$ 401,247	$ 863,846	$ 725,617
Operating Income	28,909	29,176	60,565	48,849
Interest	3,834	4,308	9,172	9,573
Equity in income of joint venture arrangements	(110)	(82)	(127)	(389)
Income before income taxes	25,185	24,950	51,520	39,665
Charges related to stucco-related claims	8,500	2,754	8,500	4,909
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	168,469	152,918	314,891	271,088
Operating Income	17,984	17,987	32,843	28,315
Interest	863	613	2,240	1,892
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	178,780	148,965	328,145	271,659
Operating Income	4,709	7,199	13,421	13,629
Interest	1,791	2,136	4,168	4,330
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Homebuilding revenue	97,749	89,415	194,635	162,868
Operating Income	9,588	7,584	16,841	11,468
Interest	515	1,049	1,431	2,457
Financial Services [Member]
Segment Reporting Information [Line Items]
Financial services revenue	11,868	9,949	26,175	20,002
Operating Income	6,860	5,362	16,090	11,637
Interest	665	510	1,333	894
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Selling, general and administrative expenses	$ (10,232)	$ (8,956)	$ (18,630)	$ (16,200)

Business Segments Business Se48

Business Segments Business Segments - Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	$ 29,887	$ 29,856
Inventory	1,349,657	1,186,078
Investment in joint venture arrangements	22,877	28,016
Other assets	228,965	304,561
Total assets	1,631,386	1,548,511
Midwest Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	6,035	3,989
Inventory	464,186	399,814
Investment in joint venture arrangements	4,649	10,155
Other assets	13,301	25,747
Total assets	488,171	439,705
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	19,272	22,607
Inventory	582,405	484,038
Investment in joint venture arrangements	10,333	10,630
Other assets	35,136	35,622
Total assets	647,146	552,897
Mid-Atlantic Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	4,580	3,260
Inventory	303,066	302,226
Investment in joint venture arrangements	7,895	7,231
Other assets	8,546	13,912
Total assets	324,087	326,629
Corporate, Financial Services and Unallocated [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	0	0
Inventory	0	0
Investment in joint venture arrangements	0	0
Other assets	171,982	229,280
Total assets	$ 171,982	$ 229,280

Supplemental Guarantor Inform49

Supplemental Guarantor Information Supplemental Guarantor Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue	$ 456,866	$ 401,247	$ 863,846	$ 725,617
Land and housing	367,598	319,708	687,879	579,880
General and administrative	30,112	26,830	57,872	49,089
Selling	30,247	25,533	57,530	47,799
Equity in income of joint venture arrangements	(110)	(82)	(127)	(389)
Interest	3,834	4,308	9,172	9,573
Total costs and expenses	431,681	376,297	812,326	685,952
Income before income taxes	25,185	24,950	51,520	39,665
Provision for income taxes	8,196	9,034	17,648	14,560
Equity In subsidiaries	0	0	0	0
Net income	16,989	15,916	33,872	25,105
Preferred Dividends	1,219	1,219	2,438	2,438
Net income to common shareholders	15,770	14,697	31,434	22,667
Consolidation, Eliminations [Member]
Revenue	0	0	0	0
Land and housing	0	0	0	0
General and administrative	0	0		0
Selling	0	0	0	0
Equity in income of joint venture arrangements	0	0	0	0
Interest	0	0	0	0
Total costs and expenses	0	0	0	0
Income before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity In subsidiaries	(16,989)	(15,916)	(33,872)	(25,105)
Net income	(16,989)	(15,916)	(33,872)	(25,105)
Preferred Dividends	0	0	0	0
Net income to common shareholders	(16,989)	(15,916)	(33,872)	(25,105)
Parent Company [Member]
Revenue	0	0	0	0
Land and housing	0	0	0	0
General and administrative	0	0	0	0
Selling	0	0	0	0
Equity in income of joint venture arrangements	0	0	0	0
Interest	0	0	0	0
Total costs and expenses	0	0	0	0
Income before income taxes	0	0	0	0
Provision for income taxes	0	0	0	0
Equity In subsidiaries	16,989	15,916	33,872	25,105
Net income	16,989	15,916	33,872	25,105
Preferred Dividends	1,219	1,219	2,438	2,438
Net income to common shareholders	15,770	14,697	31,434	22,667
Guarantor Subsidiaries [Member]
Revenue	444,998	391,297	837,671	705,614
Land and housing	367,598	319,708	687,879	579,880
General and administrative	24,915	22,085	47,375	40,387
Selling	30,247	25,533	57,530	47,799
Equity in income of joint venture arrangements	0	0	0	0
Interest	3,169	3,798	7,839	8,679
Total costs and expenses	425,929	371,124	800,623	676,745
Income before income taxes	19,069	20,173	37,048	28,869
Provision for income taxes	6,246	7,442	12,735	10,886
Equity In subsidiaries	0	0	0	0
Net income	12,823	12,731	24,313	17,983
Preferred Dividends	0	0	0	0
Net income to common shareholders	12,823	12,731	24,313	17,983
Non-Guarantor Subsidiaries [Member]
Revenue	11,868	9,950	26,175	20,003
Land and housing	0	0	0	0
General and administrative	5,197	4,745	10,497	8,702
Selling	0	0	0	0
Equity in income of joint venture arrangements	(110)	(82)	(127)	(389)
Interest	665	510	1,333	894
Total costs and expenses	5,752	5,173	11,703	9,207
Income before income taxes	6,116	4,777	14,472	10,796
Provision for income taxes	1,950	1,592	4,913	3,674
Equity In subsidiaries	0	0	0	0
Net income	4,166	3,185	9,559	7,122
Preferred Dividends	0	0	0	0
Net income to common shareholders	$ 4,166	$ 3,185	$ 9,559	$ 7,122

Supplemental Guarantor Inform50

Supplemental Guarantor Information Supplemental Guarantor Information - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS:
Cash, cash equivalents and restricted cash	$ 29,940	$ 34,441
Mortgage loans held for sale	91,986	154,020
Inventory	1,379,544	1,215,934
Property and equipment - net	22,255	22,299
Investment in joint venture arrangements	22,877	28,016
Deferred Income taxes	30,078	30,875
Investment in subsidiaries	0	0
Intercompany	0	0
Other assets	54,706	62,926
TOTAL ASSETS	1,631,386	1,548,511
LIABILITIES:
Accounts payable	113,072	103,212
Customer deposits	29,655	22,156
Intercompany liabilities	0	0
Other liabilities	106,637	123,162
Community development district obligations	5,875	476
Obligation for consolidated inventory not owned	12,263	7,528
Notes payable bank - homebuilding operations	138,000	40,300
Notes payable bank - financial service operations	89,518	152,895
Notes payable - other	3,663	6,415
Convertible senior subordinated notes due 2017 - net	57,380	57,093
Convertible senior subordinated notes due 2018 - net	85,777	85,423
Senior notes due 2021 - net	296,229	295,677
TOTAL LIABILITIES	938,069	894,337
TOTAL SHAREHOLDERS' EQUITY	693,317	654,174
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,631,386	1,548,511
Consolidation, Eliminations [Member]
ASSETS:
Cash, cash equivalents and restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investment in joint venture arrangements	0	0
Deferred Income taxes	0	0
Investment in subsidiaries	(694,380)	(666,008)
Intercompany	(437,100)	(424,669)
Other assets	0	0
TOTAL ASSETS	(1,131,480)	(1,090,677)
LIABILITIES:
Accounts payable	0	0
Customer deposits	0	0
Intercompany liabilities	(437,100)	(424,669)
Other liabilities	0	0
Community development district obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0	0
Notes payable bank - financial service operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2017 - net	0	0
Convertible senior subordinated notes due 2018 - net	0	0
Senior notes due 2021 - net	0	0
TOTAL LIABILITIES	(437,100)	(424,669)
TOTAL SHAREHOLDERS' EQUITY	(694,380)	(666,008)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	(1,131,480)	(1,090,677)
Parent Company [Member]
ASSETS:
Cash, cash equivalents and restricted cash	0	0
Mortgage loans held for sale	0	0
Inventory	0	0
Property and equipment - net	0	0
Investment in joint venture arrangements	0	0
Deferred Income taxes	0	0
Investment in subsidiaries	694,380	666,008
Intercompany	437,100	424,669
Other assets	1,223	1,690
TOTAL ASSETS	1,132,703	1,092,367
LIABILITIES:
Accounts payable	0	0
Customer deposits	0	0
Intercompany liabilities	0	0
Other liabilities	0	0
Community development district obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0	0
Notes payable bank - financial service operations	0	0
Notes payable - other	0	0
Convertible senior subordinated notes due 2017 - net	57,380	57,093
Convertible senior subordinated notes due 2018 - net	85,777	85,423
Senior notes due 2021 - net	296,229	295,677
TOTAL LIABILITIES	439,386	438,193
TOTAL SHAREHOLDERS' EQUITY	693,317	654,174
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,132,703	1,092,367
Guarantor Subsidiaries [Member]
ASSETS:
Cash, cash equivalents and restricted cash	6,095	20,927
Mortgage loans held for sale	0	0
Inventory	1,379,544	1,215,934
Property and equipment - net	21,264	21,242
Investment in joint venture arrangements	14,627	12,537
Deferred Income taxes	29,971	30,767
Investment in subsidiaries	0	0
Intercompany	0	0
Other assets	44,030	43,809
TOTAL ASSETS	1,495,531	1,345,216
LIABILITIES:
Accounts payable	112,702	102,663
Customer deposits	29,655	22,156
Intercompany liabilities	430,472	411,196
Other liabilities	101,238	117,133
Community development district obligations	5,875	476
Obligation for consolidated inventory not owned	12,263	7,528
Notes payable bank - homebuilding operations	138,000	40,300
Notes payable bank - financial service operations	0	0
Notes payable - other	3,663	6,415
Convertible senior subordinated notes due 2017 - net	0	0
Convertible senior subordinated notes due 2018 - net	0	0
Senior notes due 2021 - net	0	0
TOTAL LIABILITIES	833,868	707,867
TOTAL SHAREHOLDERS' EQUITY	661,663	637,349
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,495,531	1,345,216
Non-Guarantor Subsidiaries [Member]
ASSETS:
Cash, cash equivalents and restricted cash	23,845	13,514
Mortgage loans held for sale	91,986	154,020
Inventory	0	0
Property and equipment - net	991	1,057
Investment in joint venture arrangements	8,250	15,479
Deferred Income taxes	107	108
Investment in subsidiaries	0	0
Intercompany	0	0
Other assets	9,453	17,427
TOTAL ASSETS	134,632	201,605
LIABILITIES:
Accounts payable	370	549
Customer deposits	0	0
Intercompany liabilities	6,628	13,473
Other liabilities	5,399	6,029
Community development district obligations	0	0
Obligation for consolidated inventory not owned	0	0
Notes payable bank - homebuilding operations	0	0
Notes payable bank - financial service operations	89,518	152,895
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 due 2021 - net	0	0
TOTAL LIABILITIES	101,915	172,946
TOTAL SHAREHOLDERS' EQUITY	32,717	28,659
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 134,632	$ 201,605

Supplemental Guarantor Inform51

Supplemental Guarantor Information Supplemental Guarantor Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	$ (39,320)	$ 40,939
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(1,872)	(11,029)
Intercompany Investing	0	0
Investment in joint venture arrangements	(5,807)	(5,782)
Return of investment from Investment in joint venture arrangements	1,078	0
Net proceeds from sale of mortgage servicing rights	7,558	0
Net cash provided by (used in) investing activities	957	(16,811)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	289,400	192,200
Repayments of bank borrowings - homebuilding operations	(191,700)	(166,000)
Net repayment of bank borrowings - financial services operations	(63,377)	(30,982)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(2,752)	111
Intercompany Financing	0	0
Dividends paid	(2,438)	(2,438)
Debt issue costs	(63)	(193)
Proceeds from exercise of stock options	4,792	73
Net Cash Provided by (Used in) Financing Activities	33,862	(7,229)
Net increase (decrease) in cash and cash equivalents	(4,501)	16,899
Cash and cash equivalents balance at beginning of period	34,441	13,101
Cash and cash equivalents balance at end of period	29,940	30,000
Consolidation, Eliminations [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(5,500)	(4,938)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	0	0
Intercompany Investing	7,854	2,573
Investment in joint venture arrangements	0	0
Return of investment from Investment in joint venture arrangements	0
Net proceeds from sale of mortgage servicing rights	0
Net cash provided by (used in) investing activities	7,854	2,573
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	0	0
Repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Intercompany Financing	(7,854)	5,378
Dividends paid	5,500	4,938
Debt issue costs	0	0
Proceeds from exercise of stock options	0	0
Net Cash Provided by (Used in) Financing Activities	(2,354)	10,316
Net increase (decrease) in cash and cash equivalents	0	7,951
Cash and cash equivalents balance at beginning of period	0	(7,951)
Cash and cash equivalents balance at end of period	0	0
Parent Company [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	5,500	4,938
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	0	0
Intercompany Investing	(7,854)	(2,573)
Investment in joint venture arrangements	0	0
Return of investment from Investment in joint venture arrangements	0
Net proceeds from sale of mortgage servicing rights	0
Net cash provided by (used in) investing activities	(7,854)	(2,573)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	0	0
Repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Intercompany Financing	0	0
Dividends paid	(2,438)	(2,438)
Debt issue costs	0	0
Proceeds from exercise of stock options	4,792	73
Net Cash Provided by (Used in) Financing Activities	2,354	(2,365)
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents balance at beginning of period	0	0
Cash and cash equivalents balance at end of period	0	0
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(120,894)	2,523
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(1,785)	(10,996)
Intercompany Investing	0	0
Investment in joint venture arrangements	(2,128)	(3,525)
Return of investment from Investment in joint venture arrangements	0
Net proceeds from sale of mortgage servicing rights	0
Net cash provided by (used in) investing activities	(3,913)	(14,521)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	289,400	192,200
Repayments of bank borrowings - homebuilding operations	(191,700)	(166,000)
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(2,752)	111
Intercompany Financing	15,027	15
Dividends paid	0	0
Debt issue costs	0	(153)
Proceeds from exercise of stock options	0	0
Net Cash Provided by (Used in) Financing Activities	109,975	26,173
Net increase (decrease) in cash and cash equivalents	(14,832)	14,175
Cash and cash equivalents balance at beginning of period	20,927	2,896
Cash and cash equivalents balance at end of period	6,095	17,071
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	81,574	38,416
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(87)	(33)
Intercompany Investing	0	0
Investment in joint venture arrangements	(3,679)	(2,257)
Return of investment from Investment in joint venture arrangements	1,078
Net proceeds from sale of mortgage servicing rights	7,558
Net cash provided by (used in) investing activities	4,870	(2,290)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from bank borrowings - homebuilding operations	0	0
Repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	(63,377)	(30,982)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Intercompany Financing	(7,173)	(5,393)
Dividends paid	(5,500)	(4,938)
Debt issue costs	(63)	(40)
Proceeds from exercise of stock options	0	0
Net Cash Provided by (Used in) Financing Activities	(76,113)	(41,353)
Net increase (decrease) in cash and cash equivalents	10,331	(5,227)
Cash and cash equivalents balance at beginning of period	13,514	18,156
Cash and cash equivalents balance at end of period	$ 23,845	$ 12,929

Subsequent Event Subsequent E52

Subsequent Event Subsequent Event (Details) $ in Millions	Jun. 30, 2017USD ($)
Subsequent Event [Line Items]
Optional increase in borrowing availability	$ 25
Maximum borrowing availability, subject to obtaining additional commitments	500
Minimum Tangible Net Worth	465.2
First Amendment to New Unsecured Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	400
Second Amendment to Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 475
Maximum [Member] | First Amendment to New Unsecured Credit Facility [Member]
Subsequent Event [Line Items]
Basis Points Spread on Variable Rate - Credit Facility	250