M/I Homes (MHO) 10-Q 25 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page Cover Page

Cover Page Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 23, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-12434
Entity Registrant Name	M/I HOMES, INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1210837
Entity Address, Address Line One	3 Easton Oval
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43219
City Area Code	614
Local Phone Number	418-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Shares, par value $.01
Trading Symbol	MHO
Security Exchange Name	NYSE
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,142,916
Entity Central Index Key	0000799292
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS:
Cash, cash equivalents and restricted cash	$ 33,451	$ 21,529
Mortgage loans held for sale	128,322	169,651
Inventory	1,827,068	1,674,460
Property and equipment - net	27,621	29,395
Investment in joint venture arrangements	47,557	35,870
Operating lease right-of-use assets	19,059	0
Deferred income tax asset	11,988	13,482
Goodwill	16,400	16,400
Other assets	70,137	60,794
Total assets	2,181,603	2,021,581
LIABILITIES:
Accounts payable	169,528	131,511
Customer deposits	36,250	32,055
Operating lease liabilities	19,059	0
Other liabilities	131,434	150,051
Community development district obligations	14,328	12,392
Obligation for consolidated inventory not owned	6,687	19,308
Notes payable bank - homebuilding operations	189,900	117,400
Notes payable bank - financial service operations	108,594	153,168
Notes payable - other	5,508	5,938
Senior notes due 2021 - net	298,712	297,884
Senior notes due 2025 - net	246,962	246,571
TOTAL LIABILITIES	1,226,962	1,166,278
Commitments and contingencies (Note 6)	0	0
SHAREHOLDERS' EQUITY:
Common shares - $.01 par value; authorized 58,000,000 shares at both September 30, 2019 and December 31, 2018; issued 30,137,141 shares at both September 30, 2019 and December 31, 2018	301	301
Additional paid-in capital	331,128	330,517
Retained earnings	666,799	580,992
Treasury shares - at cost - 1,994,225 and 2,620,923 shares at September 30, 2019 and December 31, 2018, respectively	(43,587)	(56,507)
TOTAL SHAREHOLDERS' EQUITY	954,641	855,303
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,181,603	$ 2,021,581

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [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	30,137,141	30,137,141
Treasury Stock, Shares	1,994,225	2,620,923

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Costs and Expenses [Abstract]
Revenue	$ 653,345	$ 567,842	$ 1,758,140	$ 1,563,797
Land and housing	519,164	452,029	1,411,488	1,250,067
General and administrative	39,385	36,897	106,248	99,514
Selling	40,147	35,054	109,150	100,708
Acquisition and integration costs	0	0	0	1,700
Equity in loss (income) from joint venture arrangements	(52)	(44)	(118)	(268)
Interest	4,637	4,426	16,626	15,192
Total costs and expenses	603,281	528,362	1,643,394	1,466,913
Income before income taxes	50,064	39,480	114,746	96,884
Provision for income taxes	12,226	10,198	28,939	21,628
Net income	$ 37,838	$ 29,282	$ 85,807	$ 75,256
Earnings per common share:
Basic	$ 1.35	$ 1.03	$ 3.10	$ 2.65
Diluted	$ 1.32	$ 1.01	$ 3.04	$ 2.56
Weighted Average Number of Shares Outstanding [Abstract]
Basic	27,981	28,469	27,695	28,389
Diluted	28,598	28,906	28,238	29,511

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Shares [Member]
Shares Outstanding, Beginning Balance at Dec. 31, 2017		27,856,752
Stockholders' Equity, Beginning Balance at Dec. 31, 2017	$ 747,298	$ 295	$ 306,483	$ 473,329	$ (32,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	75,256			75,256
Proceeds from issuance of common shares for conversion of convertible notes	20,309	$ 6	20,303
Common shares issued for conversion of convertible notes		628,515
Stock options exercised, shares		24,220
Stock options exercised	426		(56)		482
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,771		3,771
Repurchase of common shares, shares		(437,490)
Repurchase of common shares	(11,085)				(11,085)
Deferral of executive and director compensation	184		184
Deferred Compensation Arrangement with Individual, Shares Issued		61,366
Deferred Compensation Arrangement with Individual, Distribution Paid	(955)		(2,174)		1,219
Shares Outstanding, Ending Balance at Sep. 30, 2018		28,133,363
Stockholders' Equity, Ending Balance at Sep. 30, 2018	835,204	$ 301	328,511	548,585	(42,193)
Shares Outstanding, Beginning Balance at Jun. 30, 2018		28,570,853
Stockholders' Equity, Beginning Balance at Jun. 30, 2018	815,966	$ 301	327,470	519,303	(31,108)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,282			29,282
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,041		1,041
Repurchase of common shares, shares		(437,490)
Repurchase of common shares	(11,085)				(11,085)
Shares Outstanding, Ending Balance at Sep. 30, 2018		28,133,363
Stockholders' Equity, Ending Balance at Sep. 30, 2018	835,204	$ 301	328,511	548,585	(42,193)
Shares Outstanding, Beginning Balance at Dec. 31, 2018		27,516,218
Stockholders' Equity, Beginning Balance at Dec. 31, 2018	855,303	$ 301	330,517	580,992	(56,507)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	85,807			85,807
Stock options exercised, shares		710,830
Stock options exercised	14,348		(1,177)		15,525
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 4,086		4,086
Repurchase of common shares, shares	(200,000)	(201,088)
Repurchase of common shares	$ (5,150)				(5,150)
Deferral of executive and director compensation	247		247
Deferred Compensation Arrangement with Individual, Shares Issued		116,956
Deferred Compensation Arrangement with Individual, Distribution Paid	0		(2,545)		2,545
Shares Outstanding, Ending Balance at Sep. 30, 2019		28,142,916
Stockholders' Equity, Ending Balance at Sep. 30, 2019	954,641	$ 301	331,128	666,799	(43,587)
Shares Outstanding, Beginning Balance at Jun. 30, 2019		27,617,366
Stockholders' Equity, Beginning Balance at Jun. 30, 2019	904,240	$ 301	330,052	628,961	(55,074)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37,838			37,838
Stock options exercised, shares		525,550
Stock options exercised	11,071		(416)		11,487
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,492		1,492
Shares Outstanding, Ending Balance at Sep. 30, 2019		28,142,916
Stockholders' Equity, Ending Balance at Sep. 30, 2019	$ 954,641	$ 301	$ 331,128	$ 666,799	$ (43,587)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
OPERATING ACTIVITIES:
Net income	$ 85,807	$ 75,256
Adjustments to reconcile net income to net cash used in operating activities:
Equity in loss (income) from joint venture arrangements	(118)	(268)
Mortgage loan originations	(959,022)	(828,400)
Proceeds from the sale of mortgage loans	997,369	884,725
Fair value adjustment of mortgage loans held for sale	2,982	66
Capitalization of originated mortgage servicing rights	(3,366)	(3,649)
Amortization of mortgage servicing rights	1,112	580
Depreciation	8,655	8,064
Amortization of debt discount and debt issue costs	2,029	2,110
Gain on sale of mortgage servicing rights	0	(1,224)
Stock-based compensation expense	4,086	3,771
Deferred income tax expense	1,494	1,513
Change in assets and liabilities:
Inventory	(156,073)	(221,279)
Other assets	(3,952)	(6,447)
Accounts payable	38,017	20,660
Customer deposits	4,195	9,914
Accrued compensation	(11,629)	(10,199)
Other liabilities	(10,609)	(10,312)
Net cash (used in) provided by operating activities	977	(75,119)
INVESTING ACTIVITIES:
Purchase of property and equipment	(2,626)	(5,866)
Return of capital from joint venture arrangements	438	676
Acquisition, net of cash acquired	0	(100,960)
Investment in joint venture arrangements	(23,522)	(20,487)
Net proceeds from sale of mortgage servicing rights	0	6,335
Net cash provided by (used in) investing activities	(25,710)	(120,302)
FINANCING ACTIVITIES:
Repayments of convertible senior subordinated notes due 2018	0	(65,941)
Proceeds from bank borrowings - homebuilding operations	568,900	519,900
Principal repayments of bank borrowings - homebuilding operations	(496,400)	(297,200)
Net repayment of bank borrowings - financial services operations	(44,574)	(64,169)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(429)	(1,738)
Payments for repurchase of common stock	(5,150)	(11,085)
Debt issue costs	(40)	(115)
Proceeds from exercise of stock options	14,348	426
Net cash (used in) provided by financing activities	36,655	80,078
Net increase (decrease) in cash, cash equivalents and restricted cash	11,922	(115,343)
Cash, cash equivalents and restricted cash-Period Start	21,529	151,703
Cash, cash equivalents and restricted cash-Period End	33,451	36,360
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest — net of amount capitalized	23,034	21,833
Income taxes	26,578	17,784
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	1,936	3,052
Consolidated inventory not owned	(12,621)	352
Distribution of single-family lots from joint venture arrangements	11,515	16,036
Common stock issued for conversion of convertible notes	$ 0	$ 20,309

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
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, 2018 (the “ 2018 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 2018 Form 10-K, as the same may be updated from time to time in our subsequent filings with the SEC. Reclassifications As a result of the Company's change in reportable segments, the Company recast certain prior year amounts in the condensed consolidated financial statements to conform with the 2019 presentation (see Note 11 ). These reclassifications had no impact on the Company's results of operations. Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASU 2016-02”), which requires 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 all lease agreements. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities will be expanded to include qualitative and specific quantitative information. For publicly traded companies, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Following the issuance of ASU 2016-02, the FASB issued ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842 (“ASU 2018-01”), ASU No. 2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”), ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”), and ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements (“ASU 2018-20”) . In March 2019, the FASB issued ASU No. 2019-01, Leases (Topic 842): Codification Improvements (“ASU 2019-01”) which clarifies how to apply certain aspects of the new lease standard as discussed in more detail below. These ASUs do not change the core principle of the guidance stated in ASU 2016-02, but are instead intended to clarify and improve the operability of certain topics addressed by ASU 2016-02 and provide practical expedients for certain aspects of the guidance to aid companies in transition. These additional ASUs have the same effective date and transition requirements as ASU 2016-02. We adopted ASU 2016-02 and the subsequently issued ASUs identified above on January 1, 2019 using the additional modified retrospective transition method in accordance with ASU 2018-11, which includes a cumulative catch-up in retained earnings on the initial date of adoption (i.e., the initial date of adoption method). The adoption of the new lease standard did not have any impact on our retained earnings. At January 1, 2019, we recognized Operating Right-of-Use (“ROU”) Assets and Operating Lease Liabilities of $20.9 million on our Unaudited Condensed Consolidated Balance Sheets. As a result of adopting the standard, we added certain internal controls to our control framework and ensured that these controls were designed and operating as part of the implementation process. See Note 15 to the Company’s financial statements for the additional expanded disclosures required by the new standard. In August 2018, the SEC issued SEC Final Rule 33-10532, Disclosure Update and Simplification , which revised or eliminated certain of the SEC’s disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded in light of other SEC and or GAAP disclosure requirements. As a result of the final rule’s amendments, the SEC now requires a registrant to reconcile its changes in stockholders' equity for both the current and comparative interim and year-to-date periods, with subtotals. This final rule was effective on November 5, 2018. Our Condensed Consolidated Statements of Stockholders’ Equity for the three and nine months ended September 30, 2019 and 2018 reflect adoption of this final rule. Impact of New Accounting Standards In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to estimate credit losses. ASU 2016-13 is effective for our fiscal year beginning January 1, 2020. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses (“ASU 2018-19”) in November 2018, ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (“ASU 2019-04”) , in April 2019, and ASU No. 2019-05, Financial Instruments-Credit Losses (Topic 326) Targeted Transition Relief (“ASU 2019-05”) in May 2019. These ASUs do not change the core principle of the guidance in ASU 2016-13. Instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses standard. These ASUs will have the same effective date and transition requirements as ASU 2016-13. We are currently evaluating the impact that the adoption of ASU 2016-13 may have on our consolidated financial statements and disclosures. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”) . ASU 2018-13 modifies the disclosure requirements for fair value measurements and removes the requirement to disclose (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. ASU 2018-13 requires disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For all entities, ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the effect that this guidance will have on our consolidated financial statements and disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) (“ASU 2018-15”) . ASU 2018-15 requires entities that are customers in cloud computing arrangements to defer implementation costs if they would be capitalized by the entity in software licensing arrangements under the internal-use software guidance. The guidance may be applied retrospectively or prospectively to implementation costs incurred after the date of adoption. For publicly traded companies, ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the effect that this guidance will have on our consolidated financial statements and disclosures. In March 2019, the FASB issued ASU No. 2019-01, Leases (Topic 842): Codification Improvements (“ASU 2019-01”), which provides clarification on implementation issues associated with adopting ASU 2016-02. The implementation issues noted in ASU 2019-01 include determining the fair value of the underlying asset by lessors that are not manufacturers or dealers, presentation on the statement of cash flows for sales-type and direct financing leases, and transition disclosures related to Topic 250, Accounting Changes and Error Corrections. We applied the guidance on January 1, 2019, the date we adopted ASU 2016-02. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof. In July 2019, the FASB issued ASU No. 2019-07, Codification Updates to SEC Sections - Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization and Miscellaneous Updates (SEC Update) (“ASU 2019-07”). ASU 2019-07 clarifies or improves the disclosure and presentation requirements of a variety of codification topics by aligning them with the SEC’s regulations, thereby eliminating redundancies and making the codification easier to apply. This ASU was effective upon issuance and did not have a significant impact on the Company’s consolidated financial statements and disclosures. Significant Accounting Policies We believe that there have been no significant changes to our significant accounting policies during the quarter ended September 30, 2019 as compared to those disclosed in our 2018 Form 10-K, other than the changes described above under “Reclassifications” and below. Leases The Company leases certain office space and model homes under operating leases with remaining terms of one to six years. The Company sells model homes to investors with the express purpose of leasing the homes back as sales models for a specified period of time. Under ASC 842, the Company records the sale of the model home and the profit on the sale at the time of the home delivery. The Company determines if an arrangement is a lease at inception when the arrangement transfers the right to control the use of an identified asset to the Company. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make payments arising from the lease agreement. The Company has operating leases but does not have any financing leases. Operating lease ROU assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. The lease term may include an option to extend or terminate a lease when it is reasonably certain that the option will be exercised. The exercise of these lease renewal options is generally at our discretion. The operating lease ROU assets include any lease payments made in advance and exclude any lease incentives. Lease payments include both lease and non-lease components as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The expense recognition pattern for our leases remained substantially unchanged as a result of the adoption of ASC 842. Variable lease payments consist of non-lease services related to the lease. Variable lease payments are excluded from the ROU assets and lease liabilities and are expensed as incurred. Short-term leases include leases with terms of less than one year without renewal options that are reasonably certain to be exercised and are recognized on a straight-line basis over the lease term. Due to our election of the practical expedient, leases with an initial term of twelve months or less are not recorded on the balance sheet. As the rate implicit in our leases is not readily determinable, the Company uses its estimated incremental borrowing rate at the commencement date in determining the present value of the lease payments. We give consideration to our recent debt issuances as well as to the current rate available under our Credit Facility (defined below) when calculating our incremental borrowing rate. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. See Note 15 to our financial statements for further discussion.

Inventory and Capitalized Inter

Inventory and Capitalized Interest	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [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 to our financial statements for additional details relating to our procedures for evaluating our inventories for impairment). Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. A summary of the Company’s inventory as of September 30, 2019 and December 31, 2018 is as follows: (In thousands) September 30, 2019 December 31, 2018 Single-family lots, land and land development costs $ 824,835 $ 778,943 Land held for sale 8,465 12,633 Homes under construction 848,302 730,390 Model homes and furnishings - at cost (less accumulated depreciation: September 30, 2019 - $13,974; December 31, 2018 - $13,441) 96,060 87,132 Community development district infrastructure 14,328 12,392 Land purchase deposits 28,391 33,662 Consolidated inventory not owned 6,687 19,308 Total inventory $ 1,827,068 $ 1,674,460 Single-family lots, land and land development costs include raw land that the Company has purchased to develop into lots, costs incurred to develop the raw land into lots, and lots for which development has been completed, but which have not yet been used to start construction of a home. Homes under construction include homes that are in various stages of construction. As of September 30, 2019 and December 31, 2018 , we had 1,513 homes (with a carrying value of $295.6 million ) and 1,443 homes (with a carrying value of $311.0 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 $14.3 million and $12.4 million liability related to these CDD bond obligations as of September 30, 2019 and December 31, 2018 , 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 nine months ended September 30, 2019 and 2018 is as follows : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Capitalized interest, beginning of period $ 22,162 $ 19,252 $ 20,765 $ 17,169 Interest capitalized to inventory 8,291 8,047 22,461 21,197 Capitalized interest charged to land and housing costs and expenses (7,836 ) (6,278 ) (20,609 ) (17,345 ) Capitalized interest, end of period $ 22,617 $ 21,021 $ 22,617 $ 21,021 Interest incurred $ 12,928 $ 12,473 $ 39,087 $ 36,389

Investment in Joint Venture Arr

Investment in Joint Venture Arrangements (Notes)	9 Months Ended
	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Equity Method Investments and Joint Venture Arrangements Disclosure [Text Block]	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 nine-month period ended September 30, 2019 , we increased our total investment in such joint venture arrangements by $11.7 million from $35.9 million at December 31, 2018 to $47.6 million at September 30, 2019 , which was driven primarily by our cash investments in our joint venture arrangements during the first nine months of 2019 of $23.5 million , offset, in part, by our increased lot distributions from joint venture arrangements of $11.5 million . We believe that the Company’s maximum exposure related to its investment in these joint venture arrangements as of September 30, 2019 was the amount invested of $47.6 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. 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 ranged from 25% to 82% and 25% to 97% as of September 30, 2019 and December 31, 2018 , respectively. These entities typically engage in land development activities for the purpose of distributing or selling developed lots to the Company and its partners in the LLC. We use the equity method of accounting for investments in unconsolidated LLCs over which we exercise significant influence but do not have a controlling interest. Under the equity method, our share of the unconsolidated LLCs’ earnings or loss, if any, is included in our consolidated statement of income. The Company assesses its investments in unconsolidated LLCs for recoverability on a quarterly basis. See Note 4 to our financial statements for additional details relating to our procedures for evaluating our investments for impairment. 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 2018 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 variable interest entities (“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 2018 Form 10-K. If we are deemed to be the primary beneficiary of the VIE, we will consolidate the VIE in our consolidated financial statements and reflect such assets and liabilities in our Consolidated Inventory not Owned in our Unaudited Condensed Consolidated Balance Sheets. At both September 30, 2019 and December 31, 2018 , 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	9 Months Ended
	Sep. 30, 2019
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 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 whole loan contract or by FMBSs. The table below shows the notional amounts of our financial instruments at September 30, 2019 and December 31, 2018 : Description of Financial Instrument (in thousands) September 30, 2019 December 31, 2018 Whole loan contracts and related committed IRLCs $ 1,813 $ 5,823 Uncommitted IRLCs 134,484 76,117 FMBSs related to uncommitted IRLCs 133,000 83,000 Whole loan contracts and related mortgage loans held for sale 8,344 14,285 FMBSs related to mortgage loans held for sale 118,000 150,000 Mortgage loans held for sale covered by FMBSs 118,082 149,980 The table below shows the level and measurement of assets and liabilities measured on a recurring basis at September 30, 2019 and December 31, 2018 : Description of Financial Instrument (in thousands) Fair Value Measurements September 30, 2019 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 $ 128,322 $ — $ 128,322 $ — Forward sales of mortgage-backed securities 326 — 326 — Interest rate lock commitments 763 — 763 — Whole loan contracts (12 ) — (12 ) — Total $ 129,399 $ — $ 129,399 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2018 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 $ 169,651 $ — $ 169,651 $ — Forward sales of mortgage-backed securities (3,305 ) — (3,305 ) — Interest rate lock commitments 989 — 989 — Whole loan contracts (154 ) — (154 ) — Total $ 167,181 $ — $ 167,181 $ — The following table sets forth the amount of (loss) gain recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, Description (in thousands) 2019 2018 2019 2018 Mortgage loans held for sale $ (1,964 ) $ (1,383 ) $ (2,981 ) $ (66 ) Forward sales of mortgage-backed securities 2,299 2,407 3,631 1,447 Interest rate lock commitments (686 ) (763 ) (258 ) 80 Whole loan contracts 121 252 174 108 Total (loss) gain recognized $ (230 ) $ 513 $ 566 $ 1,569 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 are disclosed as a separate line item): Asset Derivatives Liability Derivatives September 30, 2019 September 30, 2019 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 $ 326 Other liabilities $ — Interest rate lock commitments Other assets 763 Other liabilities — Whole loan contracts Other assets — Other liabilities 12 Total fair value measurements $ 1,089 $ 12 Asset Derivatives Liability Derivatives December 31, 2018 December 31, 2018 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 3,305 Interest rate lock commitments Other assets 989 Other liabilities — Whole loan contracts Other assets — Other liabilities 154 Total fair value measurements $ 989 $ 3,459 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 2018 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 rate (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 nine months ended September 30, 2019 and 2018 , the Company did no t 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 2018 Form 10-K for additional information regarding the Company’s methodology for determining fair value. Because of the high degree of judgment involved in developing these assumptions, it is possible that changes in these assumptions could materially impact future cash flow and fair value estimates of the investments which may lead the Company to incur additional impairment charges in the future. During the three and nine months ended September 30, 2019 and 2018 , the Company did no t record any impairment charges on its investments in unconsolidated joint ventures. Asset Held For Sale. The Company measures assets held for sale at fair value on a nonrecurring basis and records impairment charges when the assets are deemed to be impaired. Assets held for sale are reported at the lower of cost or fair value. Costs to sell are accrued separately. Our home office building in Columbus, Ohio met the held for sale classification criteria for the period ended September 30, 2018 as it was being actively marketed. The carrying value of the building as of September 30, 2019 was $5.6 million . The Company estimated the fair value of the building using the market values for similar properties, and the building was considered a Level 2 asset as defined in ASC 820, “Fair Value Measurements.” During the three and nine months ended September 30, 2019 , the Company did no t record any impairment charges on its asset held for sale. Financial Instruments Counterparty Credit Risk. To reduce the risk associated with losses that would be recognized if counterparties failed to perform as contracted, the Company limits the entities with whom management can enter into commitments. This risk of accounting loss is the difference between the market rate at the time of non-performance by the counterparty and the rate to which the Company committed. The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2019 and December 31, 2018 . 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. September 30, 2019 December 31, 2018 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 33,451 $ 33,451 $ 21,529 $ 21,529 Mortgage loans held for sale 128,322 128,322 169,651 169,651 Split dollar life insurance policies 206 206 206 206 Commitments to extend real estate loans 763 763 989 989 Forward sales of mortgage-backed securities 326 326 — — Liabilities: Notes payable - homebuilding operations 189,900 189,900 117,400 117,400 Notes payable - financial services operations 108,594 108,594 153,168 153,168 Notes payable - other 5,508 4,922 5,938 5,112 Senior notes due 2021 (a) 300,000 302,625 300,000 298,500 Senior notes due 2025 (a) 250,000 256,563 250,000 228,750 Whole loan contracts for committed IRLCs and mortgage loans held for sale 12 12 154 154 Forward sales of mortgage-backed securities — — 3,305 3,305 Off-Balance Sheet Financial Instruments: Letters of credit — 1,300 — 944 (a) Our senior 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 September 30, 2019 and December 31, 2018 : 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, Whole loan Contracts for Committed IRLCs and Mortgage Loans Held for Sale, Senior Notes due 2021 and Senior Notes due 2025. The fair value of these financial instruments was determined based upon market quotes at September 30, 2019 and December 31, 2018 . 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 September 30, 2019 under the Company’s $500 million unsecured revolving credit facility, dated July 18, 2013 , as amended (the “Credit Facility”), fluctuated daily with the one-month LIBOR rate plus a margin of 250 basis points, and thus the carrying value is a reasonable estimate of fair value. See Note 8 to our financial statements 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 secured mortgage warehousing agreement, dated June 24, 2016 , as amended (the “MIF Mortgage Warehousing Agreement”); and (2) a $50 million mortgage repurchase agreement, dated October 30, 2017 , as amended (the “MIF Mortgage Repurchase Facility”). For each of these credit facilities, the interest rate is based on a variable rate index, and thus their carrying value is a reasonable estimate of fair value. The interest rate available to M/I Financial during the third quarter of 2019 fluctuated with LIBOR. See Note 8 to our financial statements 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 $65.6 million and $52.7 million represent potential commitments at September 30, 2019 and December 31, 2018 , respectively. The letters of credit generally expire within one or two years. The estimated fair value of letters of credit was determined using fees currently charged for similar agreements.

Guarantees and Indemnifications

Guarantees and Indemnifications	9 Months Ended
	Sep. 30, 2019
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 $46.0 million and $63.6 million were covered under these guarantees as of September 30, 2019 and December 31, 2018 , respectively. The decrease in loans covered by these guarantees from December 31, 2018 is a result of a change in the mix of investors and their related purchase terms. A portion of the revenue paid to M/I Financial for providing the guarantees on these loans was deferred at September 30, 2019 , 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 $0.6 million at both September 30, 2019 and December 31, 2018 . 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 both September 30, 2019 and December 31, 2018 , the total of all loans indemnified to third party insurers relating to the above agreements was $1.0 million . The maximum potential amount of future payments is equal to the outstanding loan value less the value of the underlying asset plus administrative costs incurred related to foreclosure on the loans, should this event occur. The Company recorded a liability relating to the guarantees described above totaling $0.6 million at both September 30, 2019 and December 31, 2018 , which is management’s best estimate of the Company’s liability with respect to such guarantees.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
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 nine months ended September 30, 2019 and 2018 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Warranty reserves, beginning of period $ 25,474 $ 23,279 $ 26,459 $ 26,133 Warranty expense on homes delivered during the period 3,851 3,353 10,332 9,195 Changes in estimates for pre-existing warranties 255 417 990 882 Charges related to stucco-related claims (a) — — — — Settlements made during the period (4,044 ) (4,508 ) (12,245 ) (13,669 ) Warranty reserves, end of period $ 25,536 $ 22,541 $ 25,536 $ 22,541 (a) These amounts represent charges for stucco-related repair costs net of recoveries from insurers during the period. 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 the three and nine month periods ended September 30, 2019 , we did not record any additional warranty charges or receive any additional recoveries for stucco-related repair costs. At September 30, 2019 , the remaining reserve for (1) homes in our Florida communities that we have identified as needing repair but have not yet completed the repair and (2) estimated repair costs for homes in our Florida communities that we have not yet identified as needing repair but that may require repair in the future included within our warranty reserve was $5.0 million . We believe that this amount is sufficient to cover both known and estimated future repair costs as of September 30, 2019 . Our remaining stucco-related reserve is gross of any recoveries. Stucco-related recoveries are recorded in the period the reimbursement is received. Our review of the stucco-related issues in our Florida communities is ongoing. Our estimate 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-related repairs costs, which revision could be material. We continue to investigate the extent to which we may be able to further 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 September 30, 2019 , we are unable to estimate any additional amount that we believe is probable of recovery from these sources and, as noted above, we have not recorded a receivable for recoveries nor included an estimated amount of recoveries in determining our stucco-related warranty reserve. Performance Bonds and Letters of Credit At September 30, 2019 , the Company had outstanding approximately $248.8 million of completion bonds and standby letters of credit, some of which were issued to various local governmental entities that expire at various times through September 2026 . Included in this total are: (1) $175.9 million of performance and maintenance bonds and $55.3 million of performance letters of credit that serve as completion bonds for land development work in progress; (2) $10.3 million of financial letters of credit, of which $9.8 million represent deposits on land and lot purchase agreements; and (3) $7.3 million of financial bonds. Land Option Contracts and Other Similar Contracts At September 30, 2019 , the Company also had options and contingent purchase agreements to acquire land and developed lots with an aggregate purchase price of approximately $570.2 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 September 30, 2019 and December 31, 2018 , we had $0.5 million and $0.4 million reserved for legal expenses, respectively.

Acquisition and Goodwill (Notes

Acquisition and Goodwill (Notes)	9 Months Ended
	Sep. 30, 2019
Acquisition and Goodwill [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	Acquisition and Goodwill Acquisition In March 2018, we entered the Detroit, Michigan market through the acquisition of the homebuilding assets and operations of Pinnacle Homes for a purchase price of $101.0 million . The results of Pinnacle Homes’ operations have been included in our financial statements since March 1, 2018, the effective date of the acquisition. As a result of the transaction, we recorded $16.4 million of goodwill (all of which is tax deductible) which relates to expected synergies from establishing a market presence in Detroit, the experience and knowledge of the acquired workforce and the capital-efficient operating structure of the business acquired. The remaining basis of $84.6 million is almost entirely comprised of the fair value of the acquired inventory with an insignificant amount attributable to other assets and liabilities. Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired and liabilities assumed in business combinations. In connection with the Company’s acquisition of the homebuilding assets and operations of Pinnacle Homes in Detroit, Michigan described above, the Company recorded goodwill of $16.4 million , which is included as Goodwill in our Consolidated Balance Sheets. This amount was based on the estimated fair values of the acquired assets and liabilities at the date of the acquisition in accordance with ASC 350. In accordance with ASC 350, the Company analyzes goodwill for impairment on an annual basis (or more often if indicators of impairment exist). The Company performs a qualitative assessment to determine whether the existence of events or circumstances leads to a determination that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment indicates that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, then a quantitative assessment is performed to determine the reporting unit’s fair value. If the reporting unit’s carrying value exceeds its fair value, then an impairment loss is recognized for the amount of the excess of the carrying amount over the reporting unit’s fair value. The Company performed its annual goodwill impairment analysis during the fourth quarter of 2018, and as no indicators for impairment existed at December 31, 2018, no impairment was recorded. In addition, no indicators for impairment existed at September 30, 2019 .

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt Notes Payable - Homebuilding The Credit Facility provides an aggregate commitment amount of $500 million , including a $125 million sub-facility for letters of credit. The Credit Facility expires on July 18, 2021 . Interest on amounts borrowed under the Credit Facility is payable at a rate which is adjusted daily and is equal to the sum of the one-month LIBOR rate plus a margin of 250 basis points. The margin is subject to adjustment in subsequent quarterly periods based on the Company’s leverage ratio. The Credit Facility also contains certain financial covenants. At September 30, 2019 , 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 $729.5 million of availability for additional senior debt at September 30, 2019 . As a result, the full $500 million commitment amount of the Credit Facility was available, less any borrowings and letters of credit outstanding. At September 30, 2019 , there were $189.9 million of borrowings outstanding and $65.6 million of letters of credit outstanding, leaving net remaining borrowing availability of $244.5 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 12 to our financial statements), subject to limitations on the aggregate amount invested in such Unrestricted Subsidiaries in accordance with the terms of the Credit Facility and the indentures for the Company’s $250.0 million aggregate principal amount of 5.625% Senior Notes due 2025 (the “2025 Senior Notes”) and 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 2025 Senior Notes and the 2021 Senior 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. Notes Payable — Financial Services The MIF Mortgage Warehousing Agreement is used to finance eligible residential mortgage loans originated by M/I Financial. The MIF Mortgage Warehousing Agreement provides for a maximum borrowing availability of $125 million , which may be increased to $160 million from September 25, 2019 to October 15, 2019 and from November 15, 2019 to February 4, 2020 (periods of expected increases in the volume of mortgage originations). The MIF Mortgage Warehousing Agreement expires on June 19, 2020 . Interest on amounts borrowed under the MIF Mortgage Warehousing Agreement is payable at a per annum rate equal to the floating LIBOR rate plus a spread of 200 basis points. The MIF Mortgage Warehousing Agreement also contains certain financial covenants. At September 30, 2019 , 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. The MIF Repurchase Facility provides for a mortgage repurchase facility with a maximum borrowing availability of $50 million which increased to $65 million from November 15, 2018 through February 1, 2019, a period of higher volume of mortgage originations. The MIF Mortgage Repurchase Facility expires on October 28, 2019 . 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 200 or 225 basis points depending on the loan type. The MIF Mortgage Repurchase Facility also contains certain financial covenants. At September 30, 2019 , M/I Financial was in compliance with all financial covenants of the MIF Mortgage Repurchase Facility. At September 30, 2019 and December 31, 2018 , M/I Financial’s total combined maximum borrowing availability under the two credit facilities was $210.0 million and $225.0 million , respectively. At September 30, 2019 and December 31, 2018 , M/I Financial had $108.6 million and $153.2 million outstanding on a combined basis under its credit facilities, respectively. Senior Notes As of both September 30, 2019 and December 31, 2018 , we had $250.0 million of our 2025 Senior Notes outstanding. The 2025 Senior Notes bear interest at a rate of 5.625% per year, payable semiannually in arrears on February 1 and August 1 of each year, and mature on August 1, 2025 . We may redeem all or any portion of the 2025 Senior Notes on or after August 1, 2020 at a stated redemption price, together with accrued and unpaid interest thereon. The redemption price will initially be 104.219% of the principal amount outstanding, but will decline to 102.813% of the principal amount outstanding if redeemed during the 12-month period beginning on August 1, 2021, will further decline to 101.406% of the principal amount outstanding if redeemed during the 12-month period beginning on August 1, 2022 and will further decline to 100.000% of the principal amount outstanding if redeemed on or after August 1, 2023, but prior to maturity. As of both September 30, 2019 and December 31, 2018 , 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 . As of January 15, 2019, we may redeem all or any portion of the 2021 Senior Notes at 101.688% of the principal amount outstanding. This rate declines to 100.000% of the principal amount outstanding if redeemed on or after January 15, 2020, but prior to maturity. The 2025 Senior Notes and the 2021 Senior Notes contain certain covenants, as more fully described and defined in the indenture governing the 2025 Senior Notes and 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 2025 Senior Notes and the indenture governing the 2021 Senior Notes. As of September 30, 2019 , the Company was in compliance with all terms, conditions, and covenants under the indentures. The 2025 Senior Notes and the 2021 Senior Notes are fully and unconditionally guaranteed jointly and severally on a senior unsecured basis by the Guarantor Subsidiaries. The 2025 Senior Notes and 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 2025 Senior Notes and 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 indenture governing our 2025 Senior Notes and the indenture governing the 2021 Senior Notes limit our ability to pay dividends on, and repurchase, our common shares and any of our preferred shares then outstanding to the amount of the positive balance in our “restricted payments basket,” as defined in the indentures. In each case, 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 1, 2015 or the sale of qualified equity interests after December 1, 2015, plus other items and subject to other exceptions. The positive balance in our restricted payments basket was $246.3 million and $215.2 million at September 30, 2019 and December 31, 2018 , respectively. The determination to pay future dividends on, or make future repurchases of, our common 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 other factors deemed relevant by our board of directors. Notes Payable - Other The Company had other borrowings, which are reported in Notes Payable - Other in our Unaudited Condensed Consolidated Balance Sheets, totaling $5.5 million and $5.9 million as of September 30, 2019 and December 31, 2018 , respectively, which are comprised of notes payable acquired in the normal course of business.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2019 2018 2019 2018 NUMERATOR Net income $ 37,838 $ 29,282 $ 85,807 $ 75,256 Interest on 3.00% convertible senior subordinated notes due 2018 (a) — — — 408 Diluted income available to common shareholders $ 37,838 $ 29,282 $ 85,807 $ 75,664 DENOMINATOR Basic weighted average shares outstanding 27,981 28,469 27,695 28,389 Effect of dilutive securities: Stock option awards 403 220 338 346 Deferred compensation awards 214 217 205 202 3.00% convertible senior subordinated notes due 2018 (a) — — — 574 Diluted weighted average shares outstanding - adjusted for assumed conversions 28,598 28,906 28,238 29,511 Earnings per common share: Basic $ 1.35 $ 1.03 $ 3.10 $ 2.65 Diluted $ 1.32 $ 1.01 $ 3.04 $ 2.56 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share — 437 412 363 (a) On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31 ) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes at maturity. For the three and nine months ended September 30, 2018

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes During the three months ended September 30, 2019 and 2018 , the Company recorded a tax provision of $12.2 million and $10.2 million , respectively, which reflects income tax expense related to the periods’ income before income taxes. The effective tax rate for the three months ended September 30, 2019 and 2018 was 24.4% and 25.8% , respectively. The decrease in the effective rate for the three months ended September 30, 2019 from prior year was primarily attributable to the tax benefit of equity compensation and changes in state tax rate and apportionments. During the nine months ended September 30, 2019 and 2018 , the Company recorded a tax provision of $28.9 million and $21.6 million , respectively, which reflects income tax expense related to the periods’ income before income taxes. The effective tax rate for the nine months ended September 30, 2019 and 2018 was 25.2% and 22.3% , respectively. The increase in the effective rate for the nine months ended September 30, 2019 from prior year was primarily attributable to a $3.0 million nonrecurring tax benefit recorded during the quarter ended June 30, 2018 related to the retroactive reinstatement of energy efficient homes tax credits. The Company had $1.1 million of state NOL carryforwards, net of the federal benefit, at September 30, 2019 . Our state NOLs may be carried forward from one to 15 years, depending on the tax jurisdiction, with $0.6 million expiring between 2022 and 2027 and $0.5 million expiring between 2028 and 2032, absent sufficient state taxable income.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2019
Segment Reporting [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 16 individual homebuilding operating segments and the results of our financial services operations; (2) the results of our homebuilding reportable segments; and (3) our consolidated financial results. In accordance with ASC 280, Segment Reporting (“ASC 280”), we have identified each homebuilding division as an operating segment and have elected to aggregate our operating segments into separate reportable segments as they share similar aggregation characteristics 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. During 2019, we decided to wind down our Washington, D.C. operations, which we expect to substantially complete by the end of 2019. As a result, during the second quarter of 2019, we re-evaluated our reportable segments and determined that none of our separate Mid-Atlantic operating segments met the reportable criteria set forth in ASC 280. Therefore, we elected to aggregate our Charlotte and Raleigh, North Carolina and Washington, D.C. operating segments into our existing Southern region based on the aggregation criteria described above. All prior year segment information has been recast to conform with the 2019 presentation. The change in the reportable segments has no effect on the Company's condensed consolidated balance sheets, statement of income or statement of cash flows for the periods presented. As a result of this re-evaluation, we have determined our reportable segments are: Northern homebuilding; Southern homebuilding; and financial services operations. The homebuilding operating segments that comprise each of our reportable segments are as follows: Northern Southern Chicago, Illinois Orlando, Florida Cincinnati, Ohio Sarasota, Florida Columbus, Ohio Tampa, Florida Indianapolis, Indiana Austin, Texas Minneapolis/St. Paul, Minnesota Dallas/Fort Worth, Texas Detroit, Michigan Houston, Texas San Antonio, Texas Charlotte, North Carolina Raleigh, North Carolina Washington, D.C. (a) (a) During 2019, we decided to wind down our Washington, D.C. operations, which we expect to substantially complete by the end of 2019. The following table shows, by segment: revenue, operating income and interest expense for the three and nine months ended September 30, 2019 and 2018 , as well as the Company’s income before income taxes for such periods: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Revenue: Northern homebuilding $ 270,063 $ 236,803 $ 723,295 $ 622,325 Southern homebuilding 369,828 318,846 995,305 902,377 Financial services (a) 13,454 12,193 39,540 39,095 Total revenue $ 653,345 $ 567,842 $ 1,758,140 $ 1,563,797 Operating income: Northern homebuilding (b) $ 29,587 $ 24,179 $ 70,559 $ 55,377 Southern homebuilding 32,500 27,133 76,308 69,051 Financial services (a) 6,609 5,681 19,943 21,159 Less: Corporate selling, general and administrative expense (14,047 ) (13,131 ) (35,556 ) (32,079 ) Total operating income (b) $ 54,649 $ 43,862 $ 131,254 $ 113,508 Interest expense: Northern homebuilding $ 1,505 $ 1,297 $ 5,360 $ 5,175 Southern homebuilding 2,146 2,294 8,602 7,718 Financial services (a) 986 835 2,664 2,299 Total interest expense $ 4,637 $ 4,426 $ 16,626 $ 15,192 Equity in income from joint venture arrangements (52 ) (44 ) (118 ) (268 ) Acquisition and integration costs (c) — — — 1,700 Income before income taxes $ 50,064 $ 39,480 $ 114,746 $ 96,884 (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 $0.1 million and $0.7 million of acquisition-related charges taken during the three months ended September 30, 2019 and 2018 , respectively, and $0.6 million and $4.5 million of acquisition-related charges taken during the nine months ended September 30, 2019 and 2018 , respectively, as a result of our acquisition of Pinnacle Homes in Detroit, Michigan on March 1, 2018. (c) Represents costs which include, but are not limited to, legal fees and expenses, travel and communication expenses, cost of appraisals, accounting fees and expenses, and miscellaneous expenses related to our acquisition of Pinnacle Homes. As these costs are not eligible for capitalization as initial direct costs, such amounts are expensed as incurred. The following tables show total assets by segment at September 30, 2019 and December 31, 2018 : September 30, 2019 (In thousands) Northern Southern Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,688 $ 24,703 $ — $ 28,391 Inventory (a) 784,533 1,014,144 — 1,798,677 Investments in joint venture arrangements 2,768 44,789 — 47,557 Other assets (d) 32,296 58,377 (b) 216,305 (c) 306,978 Total assets $ 823,285 $ 1,142,013 $ 216,305 $ 2,181,603 December 31, 2018 (In thousands) Northern Southern Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 5,725 $ 27,937 $ — $ 33,662 Inventory (a) 696,057 944,741 — 1,640,798 Investments in joint venture arrangements 1,562 34,308 — 35,870 Other assets 19,524 43,086 (b) 248,641 (c) 311,251 Total assets $ 722,868 $ 1,050,072 $ 248,641 $ 2,021,581 (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. (c) Includes asset held for sale for $5.6 million . (d) Includes $19.1 million of operating lease right-of-use assets recorded as a result of the adoption of ASU 2016-02 on January 1, 2019. See Note 1 and Note 15 for further information.

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2019
Supplemental Guarantor Information [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	Supplemental Guarantor Information The Company’s obligations under the 2025 Senior Notes and the 2021 Senior 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 2025 Senior Notes and the 2021 Senior 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 (1) 2025 Senior Notes on a joint and several senior unsecured basis and (2) 2021 Senior Notes on a joint and several senior unsecured basis. There are no significant restrictions on the parent company’s ability to obtain funds from its Guarantor Subsidiaries in the form of a dividend, loan, or other means. As of September 30, 2019 , 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 2025 Senior Notes 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 September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 639,891 $ 13,454 $ — $ 653,345 Costs and expenses: Land and housing — 519,164 — — 519,164 General and administrative — 32,332 7,053 — 39,385 Selling — 40,147 — — 40,147 Equity in income from joint venture arrangements — — (52 ) — (52 ) Interest — 3,650 987 — 4,637 Total costs and expenses — 595,293 7,988 — 603,281 Income before income taxes — 44,598 5,466 — 50,064 Provision for income taxes — 11,222 1,004 — 12,226 Equity in subsidiaries 37,838 — — (37,838 ) — Net income $ 37,838 $ 33,376 $ 4,462 $ (37,838 ) $ 37,838 Three Months Ended September 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 555,649 $ 12,193 $ — $ 567,842 Costs and expenses: Land and housing — 452,029 — — 452,029 General and administrative — 30,180 6,717 — 36,897 Selling — 35,054 — — 35,054 Equity in income from joint venture arrangements — — (44 ) — (44 ) Interest — 3,592 834 — 4,426 Total costs and expenses — 520,855 7,507 — 528,362 Income before income taxes — 34,794 4,686 — 39,480 Provision for income taxes — 9,253 945 — 10,198 Equity in subsidiaries 29,282 — — (29,282 ) — Net income $ 29,282 $ 25,541 $ 3,741 $ (29,282 ) $ 29,282 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Nine Months Ended September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,718,600 $ 39,540 $ — $ 1,758,140 Costs and expenses: Land and housing — 1,411,488 — — 1,411,488 General and administrative — 86,080 20,168 — 106,248 Selling — 109,150 — — 109,150 Equity in income from joint venture arrangements — — (118 ) — (118 ) Interest — 13,962 2,664 — 16,626 Total costs and expenses — 1,620,680 22,714 — 1,643,394 Income before income taxes — 97,920 16,826 — 114,746 Provision for income taxes — 25,555 3,384 — 28,939 Equity in subsidiaries 85,807 — — (85,807 ) — Net income $ 85,807 $ 72,365 $ 13,442 $ (85,807 ) $ 85,807 Nine Months Ended September 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,524,702 $ 39,095 $ — $ 1,563,797 Costs and expenses: Land and housing — 1,250,067 — — 1,250,067 General and administrative — 80,921 18,593 — 99,514 Selling — 100,708 — — 100,708 Acquisition and integration costs — 1,700 — — 1,700 Equity in income from joint venture arrangements — — (268 ) — (268 ) Interest — 12,893 2,299 — 15,192 Total costs and expenses — 1,446,289 20,624 — 1,466,913 Income before income taxes — 78,413 18,471 — 96,884 Provision for income taxes — 17,711 3,917 — 21,628 Equity in subsidiaries 75,256 — — (75,256 ) — Net income $ 75,256 $ 60,702 $ 14,554 $ (75,256 ) $ 75,256 UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 19,366 $ 14,085 $ — $ 33,451 Mortgage loans held for sale — — 128,322 — 128,322 Inventory — 1,827,068 — — 1,827,068 Property and equipment - net — 26,794 827 — 27,621 Investment in joint venture arrangements — 44,946 2,611 — 47,557 Operating lease right-of-use assets — 15,716 3,343 — 19,059 Deferred income tax asset — 11,988 — — 11,988 Investment in subsidiaries 894,263 — — (894,263 ) — Intercompany assets 604,413 — — (604,413 ) — Goodwill — 16,400 — — 16,400 Other assets 1,639 56,200 12,298 — 70,137 TOTAL ASSETS $ 1,500,315 $ 2,018,478 $ 161,486 $ (1,498,676 ) $ 2,181,603 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 168,950 $ 578 $ — $ 169,528 Customer deposits — 36,250 — — 36,250 Operating lease liabilities — 15,718 3,341 — 19,059 Intercompany liabilities — 600,611 3,802 (604,413 ) — Other liabilities — 126,285 5,149 — 131,434 Community development district obligations — 14,328 — — 14,328 Obligation for consolidated inventory not owned — 6,687 — — 6,687 Notes payable bank - homebuilding operations — 189,900 — — 189,900 Notes payable bank - financial services operations — — 108,594 — 108,594 Notes payable - other — 5,508 — — 5,508 Senior notes due 2021 - net 298,712 — — — 298,712 Senior notes due 2025 - net 246,962 — — — 246,962 TOTAL LIABILITIES 545,674 1,164,237 121,464 (604,413 ) 1,226,962 SHAREHOLDERS’ EQUITY 954,641 854,241 40,022 (894,263 ) 954,641 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,500,315 $ 2,018,478 $ 161,486 $ (1,498,676 ) $ 2,181,603 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 5,554 $ 15,975 $ — $ 21,529 Mortgage loans held for sale — — 169,651 — 169,651 Inventory — 1,674,460 — — 1,674,460 Property and equipment - net — 28,485 910 — 29,395 Investment in joint venture arrangements — 33,297 2,573 — 35,870 Deferred income tax asset — 13,482 — — 13,482 Investment in subsidiaries 817,986 — — (817,986 ) — Intercompany assets 579,447 — — (579,447 ) — Goodwill — 16,400 — — 16,400 Other assets 2,325 47,738 10,731 — 60,794 TOTAL ASSETS $ 1,399,758 $ 1,819,416 $ 199,840 $ (1,397,433 ) $ 2,021,581 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 131,089 $ 422 $ — $ 131,511 Customer deposits — 32,055 — — 32,055 Intercompany liabilities — 578,498 949 (579,447 ) — Other liabilities — 140,860 9,191 — 150,051 Community development district obligations — 12,392 — — 12,392 Obligation for consolidated inventory not owned — 19,308 — — 19,308 Notes payable bank - homebuilding operations — 117,400 — — 117,400 Notes payable bank - financial services operations — — 153,168 — 153,168 Notes payable - other — 5,938 — — 5,938 Senior notes due 2021 - net 297,884 — — — 297,884 Senior notes due 2025 - net 246,571 — — — 246,571 TOTAL LIABILITIES 544,455 1,037,540 163,730 (579,447 ) 1,166,278 SHAREHOLDERS’ EQUITY 855,303 781,876 36,110 (817,986 ) 855,303 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,399,758 $ 1,819,416 $ 199,840 $ (1,397,433 ) $ 2,021,581 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 9,530 $ (48,625 ) $ 49,602 $ (9,530 ) $ 977 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment — (2,438 ) (188 ) — (2,626 ) Return of capital from unconsolidated joint ventures — — 438 — 438 Intercompany investing (18,728 ) — — 18,728 — Investments in and advances to joint venture arrangements — (23,351 ) (171 ) — (23,522 ) Net cash (used in) provided by investing activities (18,728 ) (25,789 ) 79 18,728 (25,710 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 568,900 — — 568,900 Principal repayments of bank borrowings - homebuilding operations — (496,400 ) — — (496,400 ) Net repayments of bank borrowings - financial services operations — — (44,574 ) — (44,574 ) Principal repayment of notes payable - other and CDD bond obligations — (429 ) — — (429 ) Intercompany financing — 16,155 2,573 (18,728 ) — Repurchase of common shares (5,150 ) — — — (5,150 ) Dividends paid — — (9,530 ) 9,530 — Debt issue costs — — (40 ) — (40 ) Proceeds from exercise of stock options 14,348 — — — 14,348 Net cash provided by (used in) financing activities 9,198 88,226 (51,571 ) (9,198 ) 36,655 Net increase (decrease) in cash, cash equivalents and restricted cash — 13,812 (1,890 ) — 11,922 Cash, cash equivalents and restricted cash balance at beginning of period — 5,554 15,975 — 21,529 Cash, cash equivalents and restricted cash balance at end of period $ — $ 19,366 $ 14,085 $ — $ 33,451 Nine Months Ended September 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 11,700 $ (144,828 ) $ 69,709 $ (11,700 ) $ (75,119 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment — (5,636 ) (230 ) — (5,866 ) Return of capital from unconsolidated joint ventures — — 676 — 676 Acquisition, net of cash acquired — (100,960 ) — — (100,960 ) Intercompany Investing (1,041 ) — — 1,041 — Investments in and advances to joint venture arrangements — (19,412 ) (1,075 ) — (20,487 ) Proceeds from the sale of mortgage servicing rights — — 6,335 — 6,335 Net cash (used in) provided by investing activities (1,041 ) (126,008 ) 5,706 1,041 (120,302 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of convertible senior subordinated notes due 2018 — (65,941 ) — — (65,941 ) Proceeds from bank borrowings - homebuilding operations — 519,900 — — 519,900 Principal repayments of bank borrowings - homebuilding operations — (297,200 ) — — (297,200 ) Net repayments of bank borrowings - financial services operations — — (64,169 ) — (64,169 ) Principal repayments of notes payable - other and CDD bond obligations — (1,738 ) — — (1,738 ) Intercompany financing — 5,862 (4,821 ) (1,041 ) — Repurchase of common shares (11,085 ) — — — (11,085 ) Dividends paid — — (11,700 ) 11,700 — Debt issue costs — (75 ) (40 ) — (115 ) Proceeds from exercise of stock options 426 — — — 426 Net cash (used in) provided by financing activities (10,659 ) 160,808 (80,730 ) 10,659 80,078 Net decrease in cash, cash equivalents and restricted cash — (110,028 ) (5,315 ) — (115,343 ) Cash, cash equivalents and restricted cash balance at beginning of period — 131,522 20,181 — 151,703 Cash, cash equivalents and restricted cash balance at end of period $ — $ 21,494 $ 14,866 $ — $ 36,360

Share Repurchase Program (Notes

Share Repurchase Program (Notes)	9 Months Ended
	Sep. 30, 2019
Share Repurchase Program [Abstract]
Treasury Stock [Text Block]	Share Repurchase Program On August 14, 2018 , the Company announced that its Board of Directors authorized a share repurchase program (the “2018 Share Repurchase Program”) pursuant to which the Company may purchase up to $50 million of its outstanding common shares through open market transactions, privately negotiated transactions or otherwise in accordance with all applicable laws. During the first quarter of 2019, the Company repurchased 0.2 million outstanding common shares at an aggregate purchase price of $5.2 million under the 2018 Share Repurchase Program. The Company did not repurchase any shares during the second and third quarters of 2019. As of September 30, 2019 , the Company has repurchased 1.3 million outstanding common shares at an aggregate purchase price of $30.9 million under the 2018 Share Repurchase Program and $19.1 million remains available for repurchases under the 2018 Share Repurchase Program. The timing, amount and other terms and conditions of any additional repurchases under the 2018 Share Repurchase Program will be determined by the Company’s management at its discretion based on a variety of factors, including the market price of the Company’s common shares, corporate considerations, general market and economic conditions and legal requirements. The 2018 Share Repurchase Program does not have an expiration date and the Board may modify, discontinue or suspend it at any time.

Revenue (Notes)

Revenue (Notes)	9 Months Ended
	Sep. 30, 2019
Revenue [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Recognition Revenue and the related profit from the sale of a home and revenue and the related profit from the sale of land to third parties are recognized in the financial statements on the date of closing if delivery has occurred, title has passed to the buyer, all performance obligations (as defined below) have been met, and control of the home or land is transferred to the buyer in an amount that reflects the consideration we expect to be entitled to in exchange for the home or land. If not received immediately upon closing, cash proceeds from home closings are held in escrow for the Company’s benefit, typically for up to three days, and are included in Cash, cash equivalents and restricted cash on the Condensed Consolidated Balance Sheets. Sales incentives vary by type of incentive and by amount on a community-by-community and home-by-home basis. The costs of any sales incentives in the form of free or discounted products and services provided to homebuyers are reflected in Land and housing costs in the Condensed Consolidated Statements of Income because such incentives are identified in our home purchase contracts with homebuyers as an intrinsic part of our single performance obligation to deliver and transfer title to their home for the transaction price stated in the contracts. Sales incentives that we may provide in the form of closing cost allowances are recorded as a reduction of housing revenue at the time the home is delivered. We record sales commissions within Selling expenses in the Condensed Consolidated Statements of Income when incurred (i.e. when the home is delivered) as the amortization period is generally one year or less and therefore capitalization is not required as part of the practical expedient for incremental costs of obtaining a contract. Contract liabilities include customer deposits related to sold but undelivered homes. Substantially all of our home sales are scheduled to close and be recorded to revenue within one year from the date of receiving a customer deposit. Contract liabilities expected to be recognized as revenue, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. All of our home purchase contracts have a single performance obligation as the promise to transfer the home is not separately identifiable from other promises in the contract and, therefore, not distinct. Our performance obligation, to deliver the agreed-upon home, is generally satisfied in less than one year from the original contract date. Deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers is not material. Although our third party land sale contracts may include multiple performance obligations, the revenue we expect to recognize in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, is not material. We do not disclose the value of unsatisfied performance obligations for land sale contracts with an original expected duration of one year or less. We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or retained and managed under a third party sub-service arrangement. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee. We recognize financial services revenue associated with our title operations as homes are delivered, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is delivered. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers. The following table presents our revenues disaggregated by revenue source: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2019 2018 2019 2018 Housing $ 631,380 $ 554,820 $ 1,695,558 $ 1,518,278 Land sales 8,511 829 23,042 6,424 Financial services (a) 13,454 12,193 39,540 39,095 Total revenue $ 653,345 $ 567,842 $ 1,758,140 $ 1,563,797 (a) Revenues include hedging losses of $4.7 million and $0.2 million for the three months ended September 30, 2019 and 2018 , respectively. Revenues include hedging losses of $10.7 million and hedging gains of $3.0 million for the nine months ended September 30, 2019 and 2018 , respectively. Hedging gains and losses do not represent revenues recognized from contracts with customers. Refer to Note 11 for presentation of our revenues disaggregated by geography. As our homebuilding operations accounted for over 96% of our total revenues for the three and nine months ended September 30, 2019 and 2018 , with most of those revenues generated from home purchase contracts with customers, we believe the disaggregation of revenues as disclosed above and in Note 11 fairly depict how the nature, amount, timing and uncertainty of cash flows are affected by economic factors.

Leases Leases (Notes)

Leases Leases (Notes)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Operating Leases On January 1, 2019, the Company adopted ASC 842, Leases (“ASC 842”) , using the initial date of adoption method (as defined in Note 1 above), whereby the adoption does not impact any periods prior to 2019. The Company recorded an operating ROU asset and an operating lease liability of $20.9 million on its Unaudited Condensed Consolidated Balance Sheets upon adoption. The Company elected to adopt the package of practical expedients and, accordingly, did not reassess any previously expired or existing arrangements and related classification under ASC 840. See Note 1 for further discussion on the Company’s lease accounting policy and the adoption of other practical expedients. As of September 30, 2019 , the Company has additional operating leases, which have not yet commenced, of approximately $25 million . This balance relates primarily to a new ten-year renewable lease for our corporate headquarters expected to commence in 2020 . During the first nine months of 2019 , the Company reduced both its operating ROU asset and operating lease liability by $1.8 million as a result of $3.9 million of additional ROU asset amortization and periodic lease expense (which is recorded within our Unaudited Condensed Consolidated Statement of Cash Flows in the change in Other Assets and Other Liabilities), offset partially by $2.1 million attributable to additional leases and modifications to existing leases during the first nine months of the year. As of September 30, 2019 , the Company’s ROU asset and operating lease liability had a balance of $19.1 million on its Unaudited Condensed Consolidated Balance Sheets. For the three and nine months ended September 30, 2019 , the Company had the following: Three Months Ended Nine Months Ended (Dollars in thousands) September 30, 2019 September 30, 2019 Operating lease expense $ 1,534 $ 4,626 Variable lease expense 427 1,305 Short-term lease expense 429 1,306 Total lease expense $ 2,390 $ 7,237 As of September 30, 2019 Weighted-average remaining lease term 4.2 years Weighted-average discount rate 5.0 % The following table presents a maturity analysis of our annual undiscounted cash flows reconciled to the carrying value of our operating lease liabilities as of September 30, 2019 : (Dollars in thousands) 10/1/2019 - 12/31/2019 $ 1,520 2020 5,457 2021 4,778 2022 4,171 2023 3,170 2024 1,733 Thereafter 387 Total lease payments 21,216 Less: Imputed interest (2,157 ) Total operating lease liability $ 19,059 At December 31, 2018, under ASC 840, Leases (“ASC 840”), the future minimum rental commitments totaled $22.5 million under non-cancelable operating leases with initial terms in excess of one year as follows: 2019 - $5.5 million ; 2020 - $4.4 million ; 2021 - $4.1 million ; 2022 - $3.8 million ; 2023 - $2.8 million ; and $1.9 million thereafter.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Revenue Recognition Policy [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASU 2016-02”), which requires 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 all lease agreements. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities will be expanded to include qualitative and specific quantitative information. For publicly traded companies, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Following the issuance of ASU 2016-02, the FASB issued ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842 (“ASU 2018-01”), ASU No. 2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”), ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”), and ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements (“ASU 2018-20”) . In March 2019, the FASB issued ASU No. 2019-01, Leases (Topic 842): Codification Improvements (“ASU 2019-01”) which clarifies how to apply certain aspects of the new lease standard as discussed in more detail below. These ASUs do not change the core principle of the guidance stated in ASU 2016-02, but are instead intended to clarify and improve the operability of certain topics addressed by ASU 2016-02 and provide practical expedients for certain aspects of the guidance to aid companies in transition. These additional ASUs have the same effective date and transition requirements as ASU 2016-02. We adopted ASU 2016-02 and the subsequently issued ASUs identified above on January 1, 2019 using the additional modified retrospective transition method in accordance with ASU 2018-11, which includes a cumulative catch-up in retained earnings on the initial date of adoption (i.e., the initial date of adoption method). The adoption of the new lease standard did not have any impact on our retained earnings. At January 1, 2019, we recognized Operating Right-of-Use (“ROU”) Assets and Operating Lease Liabilities of $20.9 million on our Unaudited Condensed Consolidated Balance Sheets. As a result of adopting the standard, we added certain internal controls to our control framework and ensured that these controls were designed and operating as part of the implementation process. See Note 15 to the Company’s financial statements for the additional expanded disclosures required by the new standard.
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Impact of New Accounting Standards In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to estimate credit losses. ASU 2016-13 is effective for our fiscal year beginning January 1, 2020. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses (“ASU 2018-19”) in November 2018, ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (“ASU 2019-04”) , in April 2019, and ASU No. 2019-05, Financial Instruments-Credit Losses (Topic 326) Targeted Transition Relief (“ASU 2019-05”) in May 2019. These ASUs do not change the core principle of the guidance in ASU 2016-13. Instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses standard. These ASUs will have the same effective date and transition requirements as ASU 2016-13. We are currently evaluating the impact that the adoption of ASU 2016-13 may have on our consolidated financial statements and disclosures. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”) . ASU 2018-13 modifies the disclosure requirements for fair value measurements and removes the requirement to disclose (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. ASU 2018-13 requires disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For all entities, ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the effect that this guidance will have on our consolidated financial statements and disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) (“ASU 2018-15”) . ASU 2018-15 requires entities that are customers in cloud computing arrangements to defer implementation costs if they would be capitalized by the entity in software licensing arrangements under the internal-use software guidance. The guidance may be applied retrospectively or prospectively to implementation costs incurred after the date of adoption. For publicly traded companies, ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the effect that this guidance will have on our consolidated financial statements and disclosures. In March 2019, the FASB issued ASU No. 2019-01, Leases (Topic 842): Codification Improvements (“ASU 2019-01”), which provides clarification on implementation issues associated with adopting ASU 2016-02. The implementation issues noted in ASU 2019-01 include determining the fair value of the underlying asset by lessors that are not manufacturers or dealers, presentation on the statement of cash flows for sales-type and direct financing leases, and transition disclosures related to Topic 250, Accounting Changes and Error Corrections. We applied the guidance on January 1, 2019, the date we adopted ASU 2016-02. The adoption of this ASU did not have a material impact on our financial position, results of operations, cash flows, or presentation thereof. In July 2019, the FASB issued ASU No. 2019-07, Codification Updates to SEC Sections - Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization and Miscellaneous Updates (SEC Update) (“ASU 2019-07”). ASU 2019-07 clarifies or improves the disclosure and presentation requirements of a variety of codification topics by aligning them with the SEC’s regulations, thereby eliminating redundancies and making the codification easier to apply. This ASU was effective upon issuance and did not have a significant impact on the Company’s consolidated financial statements and disclosures. Significant Accounting Policies We believe that there have been no significant changes to our significant accounting policies during the quarter ended September 30, 2019 as compared to those disclosed in our 2018 Form 10-K, other than the changes described above under “Reclassifications” and below. Leases The Company leases certain office space and model homes under operating leases with remaining terms of one to six years. The Company sells model homes to investors with the express purpose of leasing the homes back as sales models for a specified period of time. Under ASC 842, the Company records the sale of the model home and the profit on the sale at the time of the home delivery. The Company determines if an arrangement is a lease at inception when the arrangement transfers the right to control the use of an identified asset to the Company. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make payments arising from the lease agreement. The Company has operating leases but does not have any financing leases. Operating lease ROU assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. The lease term may include an option to extend or terminate a lease when it is reasonably certain that the option will be exercised. The exercise of these lease renewal options is generally at our discretion. The operating lease ROU assets include any lease payments made in advance and exclude any lease incentives. Lease payments include both lease and non-lease components as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The expense recognition pattern for our leases remained substantially unchanged as a result of the adoption of ASC 842. Variable lease payments consist of non-lease services related to the lease. Variable lease payments are excluded from the ROU assets and lease liabilities and are expensed as incurred. Short-term leases include leases with terms of less than one year without renewal options that are reasonably certain to be exercised and are recognized on a straight-line basis over the lease term. Due to our election of the practical expedient, leases with an initial term of twelve months or less are not recorded on the balance sheet. As the rate implicit in our leases is not readily determinable, the Company uses its estimated incremental borrowing rate at the commencement date in determining the present value of the lease payments. We give consideration to our recent debt issuances as well as to the current rate available under our Credit Facility (defined below) when calculating our incremental borrowing rate. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. See Note 15 to our financial statements for further discussion.
Lessee, Leases [Policy Text Block]	Leases The Company leases certain office space and model homes under operating leases with remaining terms of one to six years. The Company sells model homes to investors with the express purpose of leasing the homes back as sales models for a specified period of time. Under ASC 842, the Company records the sale of the model home and the profit on the sale at the time of the home delivery. The Company determines if an arrangement is a lease at inception when the arrangement transfers the right to control the use of an identified asset to the Company. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make payments arising from the lease agreement. The Company has operating leases but does not have any financing leases. Operating lease ROU assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. The lease term may include an option to extend or terminate a lease when it is reasonably certain that the option will be exercised. The exercise of these lease renewal options is generally at our discretion. The operating lease ROU assets include any lease payments made in advance and exclude any lease incentives. Lease payments include both lease and non-lease components as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The expense recognition pattern for our leases remained substantially unchanged as a result of the adoption of ASC 842. Variable lease payments consist of non-lease services related to the lease. Variable lease payments are excluded from the ROU assets and lease liabilities and are expensed as incurred. Short-term leases include leases with terms of less than one year without renewal options that are reasonably certain to be exercised and are recognized on a straight-line basis over the lease term. Due to our election of the practical expedient, leases with an initial term of twelve months or less are not recorded on the balance sheet. As the rate implicit in our leases is not readily determinable, the Company uses its estimated incremental borrowing rate at the commencement date in determining the present value of the lease payments. We give consideration to our recent debt issuances as well as to the current rate available under our Credit Facility (defined below) when calculating our incremental borrowing rate. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. See Note 15 to our financial statements for further discussion.

Inventory and Capitalized Int_2

Inventory and Capitalized Interest Inventory (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	A summary of the Company’s inventory as of September 30, 2019 and December 31, 2018 is as follows: (In thousands) September 30, 2019 December 31, 2018 Single-family lots, land and land development costs $ 824,835 $ 778,943 Land held for sale 8,465 12,633 Homes under construction 848,302 730,390 Model homes and furnishings - at cost (less accumulated depreciation: September 30, 2019 - $13,974; December 31, 2018 - $13,441) 96,060 87,132 Community development district infrastructure 14,328 12,392 Land purchase deposits 28,391 33,662 Consolidated inventory not owned 6,687 19,308 Total inventory $ 1,827,068 $ 1,674,460
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	The summary of capitalized interest for the three and nine months ended September 30, 2019 and 2018 is as follows : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Capitalized interest, beginning of period $ 22,162 $ 19,252 $ 20,765 $ 17,169 Interest capitalized to inventory 8,291 8,047 22,461 21,197 Capitalized interest charged to land and housing costs and expenses (7,836 ) (6,278 ) (20,609 ) (17,345 ) Capitalized interest, end of period $ 22,617 $ 21,021 $ 22,617 $ 21,021 Interest incurred $ 12,928 $ 12,473 $ 39,087 $ 36,389

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Measurements [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The table below shows the notional amounts of our financial instruments at September 30, 2019 and December 31, 2018 : Description of Financial Instrument (in thousands) September 30, 2019 December 31, 2018 Whole loan contracts and related committed IRLCs $ 1,813 $ 5,823 Uncommitted IRLCs 134,484 76,117 FMBSs related to uncommitted IRLCs 133,000 83,000 Whole loan contracts and related mortgage loans held for sale 8,344 14,285 FMBSs related to mortgage loans held for sale 118,000 150,000 Mortgage loans held for sale covered by FMBSs 118,082 149,980
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The table below shows the level and measurement of assets and liabilities measured on a recurring basis at September 30, 2019 and December 31, 2018 : Description of Financial Instrument (in thousands) Fair Value Measurements September 30, 2019 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 $ 128,322 $ — $ 128,322 $ — Forward sales of mortgage-backed securities 326 — 326 — Interest rate lock commitments 763 — 763 — Whole loan contracts (12 ) — (12 ) — Total $ 129,399 $ — $ 129,399 $ — Description of Financial Instrument (in thousands) Fair Value Measurements December 31, 2018 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 $ 169,651 $ — $ 169,651 $ — Forward sales of mortgage-backed securities (3,305 ) — (3,305 ) — Interest rate lock commitments 989 — 989 — Whole loan contracts (154 ) — (154 ) — Total $ 167,181 $ — $ 167,181 $ —
Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]	The following table sets forth the amount of (loss) gain recognized, within our revenue in the Unaudited Condensed Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, Description (in thousands) 2019 2018 2019 2018 Mortgage loans held for sale $ (1,964 ) $ (1,383 ) $ (2,981 ) $ (66 ) Forward sales of mortgage-backed securities 2,299 2,407 3,631 1,447 Interest rate lock commitments (686 ) (763 ) (258 ) 80 Whole loan contracts 121 252 174 108 Total (loss) gain recognized $ (230 ) $ 513 $ 566 $ 1,569
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 are disclosed as a separate line item): Asset Derivatives Liability Derivatives September 30, 2019 September 30, 2019 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 $ 326 Other liabilities $ — Interest rate lock commitments Other assets 763 Other liabilities — Whole loan contracts Other assets — Other liabilities 12 Total fair value measurements $ 1,089 $ 12 Asset Derivatives Liability Derivatives December 31, 2018 December 31, 2018 Description of Derivatives Balance Sheet Location Fair Value (in thousands) Balance Sheet Location Fair Value (in thousands) Forward sales of mortgage-backed securities Other assets $ — Other liabilities $ 3,305 Interest rate lock commitments Other assets 989 Other liabilities — Whole loan contracts Other assets — Other liabilities 154 Total fair value measurements $ 989 $ 3,459
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents the carrying amounts and fair values of the Company’s financial instruments at September 30, 2019 and December 31, 2018 . 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. September 30, 2019 December 31, 2018 (In thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash, cash equivalents and restricted cash $ 33,451 $ 33,451 $ 21,529 $ 21,529 Mortgage loans held for sale 128,322 128,322 169,651 169,651 Split dollar life insurance policies 206 206 206 206 Commitments to extend real estate loans 763 763 989 989 Forward sales of mortgage-backed securities 326 326 — — Liabilities: Notes payable - homebuilding operations 189,900 189,900 117,400 117,400 Notes payable - financial services operations 108,594 108,594 153,168 153,168 Notes payable - other 5,508 4,922 5,938 5,112 Senior notes due 2021 (a) 300,000 302,625 300,000 298,500 Senior notes due 2025 (a) 250,000 256,563 250,000 228,750 Whole loan contracts for committed IRLCs and mortgage loans held for sale 12 12 154 154 Forward sales of mortgage-backed securities — — 3,305 3,305 Off-Balance Sheet Financial Instruments: Letters of credit — 1,300 — 944 (a) Our senior 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)	9 Months Ended
	Sep. 30, 2019
Warranty Accrual Rollforward [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	A summary of warranty activity for the three and nine months ended September 30, 2019 and 2018 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Warranty reserves, beginning of period $ 25,474 $ 23,279 $ 26,459 $ 26,133 Warranty expense on homes delivered during the period 3,851 3,353 10,332 9,195 Changes in estimates for pre-existing warranties 255 417 990 882 Charges related to stucco-related claims (a) — — — — Settlements made during the period (4,044 ) (4,508 ) (12,245 ) (13,669 ) Warranty reserves, end of period $ 25,536 $ 22,541 $ 25,536 $ 22,541 (a) These amounts represent charges for stucco-related repair costs net of recoveries from insurers during the period.

Earnings per Share Earnings per

Earnings per Share Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The table below presents a reconciliation between basic and diluted weighted average shares outstanding, net income available to common shareholders and basic and diluted income per share for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2019 2018 2019 2018 NUMERATOR Net income $ 37,838 $ 29,282 $ 85,807 $ 75,256 Interest on 3.00% convertible senior subordinated notes due 2018 (a) — — — 408 Diluted income available to common shareholders $ 37,838 $ 29,282 $ 85,807 $ 75,664 DENOMINATOR Basic weighted average shares outstanding 27,981 28,469 27,695 28,389 Effect of dilutive securities: Stock option awards 403 220 338 346 Deferred compensation awards 214 217 205 202 3.00% convertible senior subordinated notes due 2018 (a) — — — 574 Diluted weighted average shares outstanding - adjusted for assumed conversions 28,598 28,906 28,238 29,511 Earnings per common share: Basic $ 1.35 $ 1.03 $ 3.10 $ 2.65 Diluted $ 1.32 $ 1.01 $ 3.04 $ 2.56 Anti-dilutive equity awards not included in the calculation of diluted earnings per common share — 437 412 363 (a) On March 1, 2013, the Company issued $86.3 million in aggregate principal amount of 3.0% Convertible Senior Subordinated Notes due 2018 (the “2018 Convertible Senior Subordinated Notes”). The 2018 Convertible Senior Subordinated Notes were scheduled to mature on March 1, 2018 and the deadline for holders to convert the 2018 Convertible Senior Subordinated Notes was February 27, 2018. As a result of conversion elections made by holders of the 2018 Convertible Senior Subordinated Notes, (1) approximately $20.3 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes were converted and settled through the issuance of approximately 0.629 million of our common shares (at a conversion price per common share of $32.31 ) and (2) the Company repaid in cash approximately $65.9 million in aggregate principal amount of the 2018 Convertible Senior Subordinated Notes at maturity.

Business Segments Business Segm

Business Segments Business Segments (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table shows, by segment: revenue, operating income and interest expense for the three and nine months ended September 30, 2019 and 2018 , as well as the Company’s income before income taxes for such periods: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Revenue: Northern homebuilding $ 270,063 $ 236,803 $ 723,295 $ 622,325 Southern homebuilding 369,828 318,846 995,305 902,377 Financial services (a) 13,454 12,193 39,540 39,095 Total revenue $ 653,345 $ 567,842 $ 1,758,140 $ 1,563,797 Operating income: Northern homebuilding (b) $ 29,587 $ 24,179 $ 70,559 $ 55,377 Southern homebuilding 32,500 27,133 76,308 69,051 Financial services (a) 6,609 5,681 19,943 21,159 Less: Corporate selling, general and administrative expense (14,047 ) (13,131 ) (35,556 ) (32,079 ) Total operating income (b) $ 54,649 $ 43,862 $ 131,254 $ 113,508 Interest expense: Northern homebuilding $ 1,505 $ 1,297 $ 5,360 $ 5,175 Southern homebuilding 2,146 2,294 8,602 7,718 Financial services (a) 986 835 2,664 2,299 Total interest expense $ 4,637 $ 4,426 $ 16,626 $ 15,192 Equity in income from joint venture arrangements (52 ) (44 ) (118 ) (268 ) Acquisition and integration costs (c) — — — 1,700 Income before income taxes $ 50,064 $ 39,480 $ 114,746 $ 96,884 (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 $0.1 million and $0.7 million of acquisition-related charges taken during the three months ended September 30, 2019 and 2018 , respectively, and $0.6 million and $4.5 million of acquisition-related charges taken during the nine months ended September 30, 2019 and 2018 , respectively, as a result of our acquisition of Pinnacle Homes in Detroit, Michigan on March 1, 2018. (c) Represents costs which include, but are not limited to, legal fees and expenses, travel and communication expenses, cost of appraisals, accounting fees and expenses, and miscellaneous expenses related to our acquisition of Pinnacle Homes. As these costs are not eligible for capitalization as initial direct costs, such amounts are expensed as incurred. The following tables show total assets by segment at September 30, 2019 and December 31, 2018 : September 30, 2019 (In thousands) Northern Southern Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 3,688 $ 24,703 $ — $ 28,391 Inventory (a) 784,533 1,014,144 — 1,798,677 Investments in joint venture arrangements 2,768 44,789 — 47,557 Other assets (d) 32,296 58,377 (b) 216,305 (c) 306,978 Total assets $ 823,285 $ 1,142,013 $ 216,305 $ 2,181,603 December 31, 2018 (In thousands) Northern Southern Corporate, Financial Services and Unallocated Total Deposits on real estate under option or contract $ 5,725 $ 27,937 $ — $ 33,662 Inventory (a) 696,057 944,741 — 1,640,798 Investments in joint venture arrangements 1,562 34,308 — 35,870 Other assets 19,524 43,086 (b) 248,641 (c) 311,251 Total assets $ 722,868 $ 1,050,072 $ 248,641 $ 2,021,581 (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. (c) Includes asset held for sale for $5.6 million . (d) Includes $19.1 million of operating lease right-of-use assets recorded as a result of the adoption of ASU 2016-02 on January 1, 2019. See Note 1 and Note 15 for further information.

Supplemental Guarantor Inform_2

Supplemental Guarantor Information Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Guarantor Information [Abstract]
Schedule Of Condensed Consolidating Statement Of Operations [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 639,891 $ 13,454 $ — $ 653,345 Costs and expenses: Land and housing — 519,164 — — 519,164 General and administrative — 32,332 7,053 — 39,385 Selling — 40,147 — — 40,147 Equity in income from joint venture arrangements — — (52 ) — (52 ) Interest — 3,650 987 — 4,637 Total costs and expenses — 595,293 7,988 — 603,281 Income before income taxes — 44,598 5,466 — 50,064 Provision for income taxes — 11,222 1,004 — 12,226 Equity in subsidiaries 37,838 — — (37,838 ) — Net income $ 37,838 $ 33,376 $ 4,462 $ (37,838 ) $ 37,838 Three Months Ended September 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 555,649 $ 12,193 $ — $ 567,842 Costs and expenses: Land and housing — 452,029 — — 452,029 General and administrative — 30,180 6,717 — 36,897 Selling — 35,054 — — 35,054 Equity in income from joint venture arrangements — — (44 ) — (44 ) Interest — 3,592 834 — 4,426 Total costs and expenses — 520,855 7,507 — 528,362 Income before income taxes — 34,794 4,686 — 39,480 Provision for income taxes — 9,253 945 — 10,198 Equity in subsidiaries 29,282 — — (29,282 ) — Net income $ 29,282 $ 25,541 $ 3,741 $ (29,282 ) $ 29,282 UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF INCOME Nine Months Ended September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,718,600 $ 39,540 $ — $ 1,758,140 Costs and expenses: Land and housing — 1,411,488 — — 1,411,488 General and administrative — 86,080 20,168 — 106,248 Selling — 109,150 — — 109,150 Equity in income from joint venture arrangements — — (118 ) — (118 ) Interest — 13,962 2,664 — 16,626 Total costs and expenses — 1,620,680 22,714 — 1,643,394 Income before income taxes — 97,920 16,826 — 114,746 Provision for income taxes — 25,555 3,384 — 28,939 Equity in subsidiaries 85,807 — — (85,807 ) — Net income $ 85,807 $ 72,365 $ 13,442 $ (85,807 ) $ 85,807 Nine Months Ended September 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated Revenue $ — $ 1,524,702 $ 39,095 $ — $ 1,563,797 Costs and expenses: Land and housing — 1,250,067 — — 1,250,067 General and administrative — 80,921 18,593 — 99,514 Selling — 100,708 — — 100,708 Acquisition and integration costs — 1,700 — — 1,700 Equity in income from joint venture arrangements — — (268 ) — (268 ) Interest — 12,893 2,299 — 15,192 Total costs and expenses — 1,446,289 20,624 — 1,466,913 Income before income taxes — 78,413 18,471 — 96,884 Provision for income taxes — 17,711 3,917 — 21,628 Equity in subsidiaries 75,256 — — (75,256 ) — Net income $ 75,256 $ 60,702 $ 14,554 $ (75,256 ) $ 75,256
Schedule Of Condensed Consolidating Balance Sheet [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 19,366 $ 14,085 $ — $ 33,451 Mortgage loans held for sale — — 128,322 — 128,322 Inventory — 1,827,068 — — 1,827,068 Property and equipment - net — 26,794 827 — 27,621 Investment in joint venture arrangements — 44,946 2,611 — 47,557 Operating lease right-of-use assets — 15,716 3,343 — 19,059 Deferred income tax asset — 11,988 — — 11,988 Investment in subsidiaries 894,263 — — (894,263 ) — Intercompany assets 604,413 — — (604,413 ) — Goodwill — 16,400 — — 16,400 Other assets 1,639 56,200 12,298 — 70,137 TOTAL ASSETS $ 1,500,315 $ 2,018,478 $ 161,486 $ (1,498,676 ) $ 2,181,603 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 168,950 $ 578 $ — $ 169,528 Customer deposits — 36,250 — — 36,250 Operating lease liabilities — 15,718 3,341 — 19,059 Intercompany liabilities — 600,611 3,802 (604,413 ) — Other liabilities — 126,285 5,149 — 131,434 Community development district obligations — 14,328 — — 14,328 Obligation for consolidated inventory not owned — 6,687 — — 6,687 Notes payable bank - homebuilding operations — 189,900 — — 189,900 Notes payable bank - financial services operations — — 108,594 — 108,594 Notes payable - other — 5,508 — — 5,508 Senior notes due 2021 - net 298,712 — — — 298,712 Senior notes due 2025 - net 246,962 — — — 246,962 TOTAL LIABILITIES 545,674 1,164,237 121,464 (604,413 ) 1,226,962 SHAREHOLDERS’ EQUITY 954,641 854,241 40,022 (894,263 ) 954,641 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,500,315 $ 2,018,478 $ 161,486 $ (1,498,676 ) $ 2,181,603 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated ASSETS: Cash, cash equivalents and restricted cash $ — $ 5,554 $ 15,975 $ — $ 21,529 Mortgage loans held for sale — — 169,651 — 169,651 Inventory — 1,674,460 — — 1,674,460 Property and equipment - net — 28,485 910 — 29,395 Investment in joint venture arrangements — 33,297 2,573 — 35,870 Deferred income tax asset — 13,482 — — 13,482 Investment in subsidiaries 817,986 — — (817,986 ) — Intercompany assets 579,447 — — (579,447 ) — Goodwill — 16,400 — — 16,400 Other assets 2,325 47,738 10,731 — 60,794 TOTAL ASSETS $ 1,399,758 $ 1,819,416 $ 199,840 $ (1,397,433 ) $ 2,021,581 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES: Accounts payable $ — $ 131,089 $ 422 $ — $ 131,511 Customer deposits — 32,055 — — 32,055 Intercompany liabilities — 578,498 949 (579,447 ) — Other liabilities — 140,860 9,191 — 150,051 Community development district obligations — 12,392 — — 12,392 Obligation for consolidated inventory not owned — 19,308 — — 19,308 Notes payable bank - homebuilding operations — 117,400 — — 117,400 Notes payable bank - financial services operations — — 153,168 — 153,168 Notes payable - other — 5,938 — — 5,938 Senior notes due 2021 - net 297,884 — — — 297,884 Senior notes due 2025 - net 246,571 — — — 246,571 TOTAL LIABILITIES 544,455 1,037,540 163,730 (579,447 ) 1,166,278 SHAREHOLDERS’ EQUITY 855,303 781,876 36,110 (817,986 ) 855,303 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,399,758 $ 1,819,416 $ 199,840 $ (1,397,433 ) $ 2,021,581
Schedule Of Condensed Consolidating Statement Of Cash Flows [Table Text Block]	UNAUDITED CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2019 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 9,530 $ (48,625 ) $ 49,602 $ (9,530 ) $ 977 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment — (2,438 ) (188 ) — (2,626 ) Return of capital from unconsolidated joint ventures — — 438 — 438 Intercompany investing (18,728 ) — — 18,728 — Investments in and advances to joint venture arrangements — (23,351 ) (171 ) — (23,522 ) Net cash (used in) provided by investing activities (18,728 ) (25,789 ) 79 18,728 (25,710 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from bank borrowings - homebuilding operations — 568,900 — — 568,900 Principal repayments of bank borrowings - homebuilding operations — (496,400 ) — — (496,400 ) Net repayments of bank borrowings - financial services operations — — (44,574 ) — (44,574 ) Principal repayment of notes payable - other and CDD bond obligations — (429 ) — — (429 ) Intercompany financing — 16,155 2,573 (18,728 ) — Repurchase of common shares (5,150 ) — — — (5,150 ) Dividends paid — — (9,530 ) 9,530 — Debt issue costs — — (40 ) — (40 ) Proceeds from exercise of stock options 14,348 — — — 14,348 Net cash provided by (used in) financing activities 9,198 88,226 (51,571 ) (9,198 ) 36,655 Net increase (decrease) in cash, cash equivalents and restricted cash — 13,812 (1,890 ) — 11,922 Cash, cash equivalents and restricted cash balance at beginning of period — 5,554 15,975 — 21,529 Cash, cash equivalents and restricted cash balance at end of period $ — $ 19,366 $ 14,085 $ — $ 33,451 Nine Months Ended September 30, 2018 (In thousands) M/I Homes, Inc. Guarantor Subsidiaries Unrestricted Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating activities $ 11,700 $ (144,828 ) $ 69,709 $ (11,700 ) $ (75,119 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment — (5,636 ) (230 ) — (5,866 ) Return of capital from unconsolidated joint ventures — — 676 — 676 Acquisition, net of cash acquired — (100,960 ) — — (100,960 ) Intercompany Investing (1,041 ) — — 1,041 — Investments in and advances to joint venture arrangements — (19,412 ) (1,075 ) — (20,487 ) Proceeds from the sale of mortgage servicing rights — — 6,335 — 6,335 Net cash (used in) provided by investing activities (1,041 ) (126,008 ) 5,706 1,041 (120,302 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of convertible senior subordinated notes due 2018 — (65,941 ) — — (65,941 ) Proceeds from bank borrowings - homebuilding operations — 519,900 — — 519,900 Principal repayments of bank borrowings - homebuilding operations — (297,200 ) — — (297,200 ) Net repayments of bank borrowings - financial services operations — — (64,169 ) — (64,169 ) Principal repayments of notes payable - other and CDD bond obligations — (1,738 ) — — (1,738 ) Intercompany financing — 5,862 (4,821 ) (1,041 ) — Repurchase of common shares (11,085 ) — — — (11,085 ) Dividends paid — — (11,700 ) 11,700 — Debt issue costs — (75 ) (40 ) — (115 ) Proceeds from exercise of stock options 426 — — — 426 Net cash (used in) provided by financing activities (10,659 ) 160,808 (80,730 ) 10,659 80,078 Net decrease in cash, cash equivalents and restricted cash — (110,028 ) (5,315 ) — (115,343 ) Cash, cash equivalents and restricted cash balance at beginning of period — 131,522 20,181 — 151,703 Cash, cash equivalents and restricted cash balance at end of period $ — $ 21,494 $ 14,866 $ — $ 36,360

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Disaggregated Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents our revenues disaggregated by revenue source: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2019 2018 2019 2018 Housing $ 631,380 $ 554,820 $ 1,695,558 $ 1,518,278 Land sales 8,511 829 23,042 6,424 Financial services (a) 13,454 12,193 39,540 39,095 Total revenue $ 653,345 $ 567,842 $ 1,758,140 $ 1,563,797 (a) Revenues include hedging losses of $4.7 million and $0.2 million for the three months ended September 30, 2019 and 2018 , respectively. Revenues include hedging losses of $10.7 million and hedging gains of $3.0 million for the nine months ended September 30, 2019 and 2018 , respectively. Hedging gains and losses do not represent revenues recognized from contracts with customers.

Leases Schedule of Future Minim

Leases Schedule of Future Minimum Rental Payments for Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Future Minimum Lease Payments [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table presents a maturity analysis of our annual undiscounted cash flows reconciled to the carrying value of our operating lease liabilities as of September 30, 2019 : (Dollars in thousands) 10/1/2019 - 12/31/2019 $ 1,520 2020 5,457 2021 4,778 2022 4,171 2023 3,170 2024 1,733 Thereafter 387 Total lease payments 21,216 Less: Imputed interest (2,157 ) Total operating lease liability $ 19,059

Leases Schedule of Lease Expens

Leases Schedule of Lease Expense (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease, Cost [Table Text Block]	For the three and nine months ended September 30, 2019 , the Company had the following: Three Months Ended Nine Months Ended (Dollars in thousands) September 30, 2019 September 30, 2019 Operating lease expense $ 1,534 $ 4,626 Variable lease expense 427 1,305 Short-term lease expense 429 1,306 Total lease expense $ 2,390 $ 7,237 As of September 30, 2019 Weighted-average remaining lease term 4.2 years Weighted-average discount rate 5.0 %

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets	$ 19,059	$ 20,900	$ 0
Operating lease liabilities	$ 19,059	$ 20,889	$ 0

Inventory and Capitalized Int_3

Inventory and Capitalized Interest Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Single-family lots, land and land development costs	$ 824,835	$ 778,943
Land held for sale	8,465	12,633
Homes under construction	848,302	730,390
Model homes and furnishings - at cost (less accumulated depreciation: September 30, 2019 - $13,974; December 31, 2018 - $13,441)	96,060	87,132
Community Development District	14,328	12,392
Land purchase deposits	28,391	33,662
Consolidated Inventory Not Owned	6,687	19,308
Total Inventory	$ 1,827,068	$ 1,674,460

Inventory and Capitalized Int_4

Inventory and Capitalized Interest Inventory Parentheticals (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Parantheticals - Inventory [Abstract]
Model Home Accumulated Depreciation	$ 13,974	$ 13,441

Inventory and Capitalized Int_5

Inventory and Capitalized Interest Other Inventory Items - Homes under construction not subject to a sale contract (Details) $ in Millions	Sep. 30, 2019USD ($)homes	Dec. 31, 2018USD ($)
Other Inventory, Gross [Abstract]
Number of Speculative Homes	1,513	1,443
Speculative Homes Carrying Value	$ 295.6	$ 311

Inventory and Capitalized Int_6

Inventory and Capitalized Interest Capitalized Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized Interest, beginning of period	$ 22,162	$ 19,252	$ 20,765	$ 17,169
Interest capitalized to inventory	8,291	8,047	22,461	21,197
Capitalized interest charged to land and housing costs and expenses	(7,836)	(6,278)	(20,609)	(17,345)
Capitalized Interest, end of period	22,617	21,021	22,617	21,021
Interest incurred	$ 12,928	$ 12,473	$ 39,087	$ 36,389

Investment in Joint Venture A_2

Investment in Joint Venture Arrangements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Increase (decrease) in Investments Joint Venture Arrangements	$ 11,700
Investment in joint venture arrangements	47,557		$ 35,870
Distribution of single-family lots from joint venture arrangements	11,515	$ 16,036
Investment in joint venture arrangements	$ 23,522	$ 20,487
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	82.00%		97.00%
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	25.00%		25.00%

Fair Value Measurements Notiona

Fair Value Measurements Notional Amount of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Notional Disclosures [Abstract]
Whole loan contracts and related committed IRLCs	$ 1,813	$ 5,823
Uncommitted IRLCs	134,484	76,117
FMBSs related to uncommitted IRLCs	133,000	83,000
Whole loan contracts and related mortgage loans held for sale	8,344	14,285
FMBSs related to mortgage loans held for sale	118,000	150,000
Mortgage loans held for sale covered by FMBSs	$ 118,082	$ 149,980

Fair Value Measurements Assets

Fair Value Measurements Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
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]
Derivative Assets (Liabilities) at Fair Value	$ 0	$ 0
Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	129,399	167,181
Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	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]
Derivative Assets (Liabilities) at Fair Value	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]
Derivative Assets (Liabilities) at Fair Value	128,322	169,651
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]
Derivative Assets (Liabilities) at Fair Value	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]
Derivative Assets (Liabilities) at Fair Value	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]
Derivative Assets (Liabilities) at Fair Value	326	(3,305)
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]
Derivative Assets (Liabilities) at Fair Value	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]
Derivative Assets (Liabilities) at Fair Value	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]
Derivative Assets (Liabilities) at Fair Value	763	989
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]
Derivative Assets (Liabilities) at Fair Value	0	0
Whole Loan 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]
Derivative Assets (Liabilities) at Fair Value	0	0
Whole Loan Contracts [Member] | Fair Value, Significant Other observable Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	(12)	(154)
Whole Loan Contracts [Member] | Fair Value, Significant Unobservable Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	0	0
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	129,399	167,181
Fair Value, Recurring [Member] | Mortgage Loans Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	128,322	169,651
Fair Value, Recurring [Member] | Forward Sales of Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	326	(3,305)
Fair Value, Recurring [Member] | Interest Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	763	989
Fair Value, Recurring [Member] | Whole Loan Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities) at Fair Value	$ (12)	$ (154)

Fair Value Measurements (Loss)

Fair Value Measurements (Loss) Gain On Assets and Liabilities Measured On A Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	$ (230)	$ 513	$ 566	$ 1,569
Mortgage Loans Held for Sale [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	(1,964)	(1,383)	(2,981)	(66)
Forward Sales of Mortgage Backed Securities [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	2,299	2,407	3,631	1,447
Interest Rate Lock Commitments [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	(686)	(763)	(258)	80
Whole Loan Contracts [Member]
Financial Instrument [Line Items]
Gain (Loss) On Assets and Liabilities Measured On A Recurring Basis	$ 121	$ 252	$ 174	$ 108

Fair Value Measurements Balance

Fair Value Measurements Balance Sheet Location of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	$ 1,089	$ 989
Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	12	3,459
Forward Sales of Mortgage Backed Securities [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	326	0
Forward Sales of Mortgage Backed Securities [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	0	3,305
Interest Rate Lock Commitments [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	763	989
Interest Rate Lock Commitments [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	0	0
Whole Loan Contracts [Member] | Other Assets [Member]
Financial Insturments, Fair Value [Line Items]
Financial Instrument, Fair Value	0	0
Whole Loan Contracts [Member] | Other Liabilities [Member]
Financial Insturments, Fair Value [Line Items]
Fair Value Disclosure, Recurring	$ 12	$ 154

Fair Value Measurements Asset_2

Fair Value Measurements Assets and Liabilities Measured on a Non-Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Inventory valuation adjustments and abandoned land transaction write-offs	$ 0	$ 0	$ 0	$ 0
Equity Method Investment, Other than Temporary Impairment	0	0	0	0
Assets Held-for-sale, Not Part of Disposal Group	5,600		5,600
Impairment Charge on Reclassified Assets	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements Financi

Fair Value Measurements Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Carrying (Reported) Amount, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	$ 33,451	$ 21,529
Mortgage loans held for sale	128,322	169,651
Split dollar life insurance policies	206	206
Commitments to extend real estate loans (assets)	763	989
Forward sales of mortgage-backed securities	326	0
LIABILITIES:
Notes payable - homebuilding operations	189,900	117,400
Notes payable - financial services operations	108,594	153,168
Notes payable - other	5,508	5,938
Senior notes due 2021 (a)	300,000	300,000
Senior notes due 2025 (a)	250,000	250,000
Whole Loan contracts for committed IRLCs and mortgage loans held for sale	12	154
Forward sales of mortgage-backed securities	0	3,305
Off-Balance Sheet Letters of credit	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
ASSETS:
Cash, cash equivalents and restricted cash	33,451	21,529
Mortgage loans held for sale	128,322	169,651
Split dollar life insurance policies	206	206
Commitments to extend real estate loans (assets)	763	989
Forward sales of mortgage-backed securities	326	0
LIABILITIES:
Notes payable - homebuilding operations	189,900	117,400
Notes payable - financial services operations	108,594	153,168
Notes payable - other	4,922	5,112
Senior notes due 2021 (a)	302,625	298,500
Senior notes due 2025 (a)	256,563	228,750
Whole Loan contracts for committed IRLCs and mortgage loans held for sale	12	154
Forward sales of mortgage-backed securities	0	3,305
Off-Balance Sheet Letters of credit	$ 1,300	$ 944

Fair Value Measurements Fair _2

Fair Value Measurements Fair Value of Financial Instrument Assumptions (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Fair Value of Financial Instrument Assumptions [Line Items]
Letters of Credit Potential Commitments, Amount	$ 65.6	$ 52.7
Revolving Credit Facility [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500
Line of Credit Facility, Initiation Date	Jul. 18, 2013
Basis point spread on variable rate under Credit Facility	2.50%
Warehousing Agreement - Third Amendment to Second Amended and Restated [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 125
Line of Credit Facility, Initiation Date	Jun. 24, 2016
Basis point spread on variable rate under Credit Facility	2.00%
Repurchase Agreement - First Amendment to Second Amended and Restated [Member]
Fair Value of Financial Instrument Assumptions [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50
Line of Credit Facility, Initiation Date	Oct. 30, 2017

Guarantees and Indemnificatio_2

Guarantees and Indemnifications Guarantees (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Guarantees [Abstract]
Total of Loans Covered by Guarantees	$ 46,000	$ 63,600
Total of Guaranteed Loans Inquired About	600	600
Total Loans Indemnified to third parties	1,000	1,000
Loan Repurchase Guarantee Liability	$ 600	$ 600

Commitments and Contingencies W

Commitments and Contingencies Warranty Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Warranty Accrual Rollforward [Abstract]
Warranty reserves, beginning of period	$ 25,474	$ 23,279	$ 26,459	$ 26,133
Warranty expense on homes delivered during the period	3,851	3,353	10,332	9,195
Changes in estimates for pre-existing warranties	255	417	990	882
Charges related to stucco-related claims	0	0	0	0
Settlements made during the period	(4,044)	(4,508)	(12,245)	(13,669)
Warranty reserves, end of period	25,536	$ 22,541	25,536	$ 22,541
Estimated Repair Costs for Affected Homes	$ 5,000		$ 5,000

Commitments and Contingencies_2

Commitments and Contingencies Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2019USD ($)
Commitments and Contingencies [Abstract]
Letters of credit and completion bonds	$ 248.8
Performance bonds outstanding	175.9
Performance letters of credit outstanding	55.3
Financial letters of credit	10.3
Financial letters of credit representing deposits on land and lot purchase agreements	9.8
Financial Bonds	7.3
Unrecorded conditional purchase obligation	$ 570.2

Commitments and Contingencies L

Commitments and Contingencies Legal Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Legal Reserve	$ 0.5	$ 0.4

Acquisition and Goodwill (Detai

Acquisition and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Acquisition, net of cash acquired		$ 0	$ (100,960)
Goodwill		$ 16,400		$ 16,400
Pinnacle Homes [Member]
Business Acquisition [Line Items]
Acquisition, net of cash acquired	$ (101,000)
Goodwill	16,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 84,600

Debt Debt (Details)

Debt Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount	$ 729,500
Notes payable bank - homebuilding operations	189,900	$ 117,400
letters of credit outstanding under credit facility	65,600
Maximum borrowing availability subject to limit	244,500
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Sub-limit for letters of credit	125,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000
Basis point spread on variable rate under Credit Facility	2.50%
Line of Credit Facility, Expiration Date	Jul. 18, 2021
2025 Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 250,000
Debt Instrument, Interest Rate, Stated Percentage	5.625%
2021 Senior Notes [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%

Debt MIF Warehousing Agreement

Debt MIF Warehousing Agreement (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Maximum Borrowing Availability under all Credit Lines	$ 210,000	$ 225,000
Notes payable bank - financial service operations	$ 108,594	$ 153,168
Warehousing Agreement - Third Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
Basis point spread on variable rate under warehouse	2.00%
Line of Credit Facility, Maximum Borrowing Capacity	$ 125,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 160,000
Line of Credit Facility, Expiration Date	Jun. 19, 2020
Repurchase Agreement - First Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000
M/I Financial Temporary Increase Maximum Borrowing Capacity	$ 65,000
Line of Credit Facility, Expiration Date	Oct. 28, 2019
Minimum [Member] | Repurchase Agreement - First Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
Basis point spread on variable rate under warehouse	2.00%
Maximum [Member] | Repurchase Agreement - First Amendment to Second Amended and Restated [Member]
Debt Instrument [Line Items]
Basis point spread on variable rate under warehouse	2.25%

Debt Senior Notes (Details)

Debt Senior Notes (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended				24 Months Ended	48 Months Ended
	Sep. 30, 2019	Jul. 31, 2023	Jul. 31, 2022	Jan. 15, 2021	Jan. 14, 2020	Jul. 31, 2025	Jul. 31, 2021	Dec. 31, 2018
Debt Instrument [Line Items]
Restricted Payments Basket	$ 246,300							$ 215,200
2025 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 250,000
Debt Instrument, Interest Rate, Stated Percentage	5.625%
Debt Instrument, Maturity Date	Aug. 1, 2025
Debt Instrument, Redemption Price, Percentage		101.406%	102.813%			100.00%	104.219%
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%
Debt Instrument, Maturity Date	Jan. 15, 2021
Debt Instrument, Redemption Price, Percentage				100.00%	101.688%
Base of restricted payments basket income calculation [Member]
Debt Instrument [Line Items]
Other Restrictions on Payment of Dividends	$ 125,000
Percentage of our aggregate consolidated net income added to base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	50.00%
Percentage of our aggregate consolidated net income subtracted from base amount of calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	100.00%
Percentage of net cash proceeds from sale of qualified equity interests added to base and income/loss amount in calculation [Member]
Debt Instrument [Line Items]
Percent restrictions on payment of dividends	100.00%

Debt Notes Payable Other (Detai

Debt Notes Payable Other (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Notes payable - other	$ 5,508	$ 5,938

Earnings per Share Earnings p_2

Earnings per Share Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net Income, Including Portion Attributable to Noncontrolling Interest	$ 37,838	$ 29,282	$ 85,807	$ 75,256
Interest on Convertible Debt, Net of Tax	0	0	0	408
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Net Income Available to Common Stockholders, Diluted	$ 37,838	$ 29,282	$ 85,807	$ 75,664
Weighted Average Number of Shares Outstanding, Basic	27,981	28,469	27,695	28,389
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Incremental Common Shares Attributable to Stock Options	403	220	338	346
Deferred Compensation Awards	214	217	205	202
Incremental Common Shares Attributable to Conversion of Debt Securities	0	0	0	574
Diluted Weighted Average Number of Shares Outstanding, Adjusted for Assumed Conversions	28,598	28,906	28,238	29,511
Earnings Per Share, Basic	$ 1.35	$ 1.03	$ 3.10	$ 2.65
Earnings Per Share, Diluted	$ 1.32	$ 1.01	$ 3.04	$ 2.56
Anti-dilutive stock equivalent awards not included in the calculation of diluted loss per share	0	437	412	363

Earnings per Share Earnings p_3

Earnings per Share Earnings per share narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 01, 2013
Earnings Per Share Narrative [Abstract]
Convertible Subordinated Debt		$ 86,300
Debt Instrument, Convertible, Conversion Price		$ 32.31
Debt Conversion, Converted Instrument, Amount	$ 20,300
Debt Conversion, Converted Instrument, Shares Issued	629
Repayments of Convertible Debt	$ 65,900

Income Taxes Income Tax (Narrat

Income Taxes Income Tax (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Valuation Allowance [Line Items]
Provision for income taxes	$ 12,226	$ 10,198	$ 28,939	$ 21,628
Effective Income Tax Rate Reconciliation, Percent	24.40%	25.80%	25.20%	22.30%
Effective Income Tax Rate Reconciliation, Tax Credit, Amount				$ 3,000

Income Taxes Net Operating Loss

Income Taxes Net Operating Loss Carryforwards (Details) - State and Local Jurisdiction [Member] $ in Millions	Sep. 30, 2019USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 1.1
Expiring between 2028 and 2032 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	0.5
Expiring between 2022 and 2027 [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 0.6

Business Segments Business Se_2

Business Segments Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 653,345	$ 567,842	$ 1,758,140	$ 1,563,797
Operating Income	54,649	43,862	131,254	113,508
Interest	4,637	4,426	16,626	15,192
Equity in loss (income) from joint venture arrangements	(52)	(44)	(118)	(268)
Acquisition and integration costs	0	0	0	1,700
Income before income taxes	50,064	39,480	114,746	96,884
Northern Homebuilding [Member]
Segment Reporting Information [Line Items]
Revenue	270,063	236,803	723,295	622,325
Operating Income	29,587	24,179	70,559	55,377
Interest	1,505	1,297	5,360	5,175
Purchase Accounting Adjustments	100	700	600	4,500
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Revenue	369,828	318,846	995,305	902,377
Operating Income	32,500	27,133	76,308	69,051
Interest	2,146	2,294	8,602	7,718
Financial Services Sector [Member]
Segment Reporting Information [Line Items]
Revenue	13,454	12,193	39,540	39,095
Operating Income	6,609	5,681	19,943	21,159
Interest	986	835	2,664	2,299
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Selling, general and administrative expenses	$ (14,047)	$ (13,131)	$ (35,556)	$ (32,079)

Business Segments Business Se_3

Business Segments Business Segments - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	$ 28,391		$ 33,662
Inventory	1,798,677		1,640,798
Investment in joint venture arrangements	47,557		35,870
Other assets	306,978		311,251
Total assets	2,181,603		2,021,581
Assets Held-for-sale, Not Part of Disposal Group	5,600
Operating lease right-of-use assets	19,059	$ 20,900	0
Northern Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	3,688		5,725
Inventory	784,533		696,057
Investment in joint venture arrangements	2,768		1,562
Other assets	32,296		19,524
Total assets	823,285		722,868
Southern Homebuilding [Member]
Segment Reporting Information [Line Items]
Deposits on real estate under option or contract	24,703		27,937
Inventory	1,014,144		944,741
Investment in joint venture arrangements	44,789		34,308
Other assets	58,377		43,086
Total assets	1,142,013		1,050,072
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	216,305		248,641
Total assets	$ 216,305		$ 248,641

Supplemental Guarantor Inform_3

Supplemental Guarantor Information Supplemental Guarantor Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue	$ 653,345	$ 567,842	$ 1,758,140	$ 1,563,797
Land and housing	519,164	452,029	1,411,488	1,250,067
General and administrative	39,385	36,897	106,248	99,514
Selling	40,147	35,054	109,150	100,708
Acquisition and integration costs	0	0	0	1,700
Equity in loss (income) from joint venture arrangements	(52)	(44)	(118)	(268)
Interest	4,637	4,426	16,626	15,192
Total costs and expenses	603,281	528,362	1,643,394	1,466,913
Income before income taxes	50,064	39,480	114,746	96,884
Provision for income taxes	12,226	10,198	28,939	21,628
Equity in subsidiaries	0	0	0	0
Net income	37,838	29,282	85,807	75,256
Consolidation, Eliminations [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
Acquisition and integration costs				0
Equity in loss (income) from 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	(37,838)	(29,282)	(85,807)	(75,256)
Net income	(37,838)	(29,282)	(85,807)	(75,256)
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
Acquisition and integration costs				0
Equity in loss (income) from 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	37,838	29,282	85,807	75,256
Net income	37,838	29,282	85,807	75,256
Guarantor Subsidiaries [Member]
Revenue	639,891	555,649	1,718,600	1,524,702
Land and housing	519,164	452,029	1,411,488	1,250,067
General and administrative	32,332	30,180	86,080	80,921
Selling	40,147	35,054	109,150	100,708
Acquisition and integration costs				1,700
Equity in loss (income) from joint venture arrangements	0	0	0	0
Interest	3,650	3,592	13,962	12,893
Total costs and expenses	595,293	520,855	1,620,680	1,446,289
Income before income taxes	44,598	34,794	97,920	78,413
Provision for income taxes	11,222	9,253	25,555	17,711
Equity in subsidiaries	0	0	0	0
Net income	33,376	25,541	72,365	60,702
Non-Guarantor Subsidiaries [Member]
Revenue	13,454	12,193	39,540	39,095
Land and housing	0	0	0	0
General and administrative	7,053	6,717	20,168	18,593
Selling	0	0	0	0
Acquisition and integration costs				0
Equity in loss (income) from joint venture arrangements	(52)	(44)	(118)	(268)
Interest	987	834	2,664	2,299
Total costs and expenses	7,988	7,507	22,714	20,624
Income before income taxes	5,466	4,686	16,826	18,471
Provision for income taxes	1,004	945	3,384	3,917
Equity in subsidiaries	0	0	0	0
Net income	$ 4,462	$ 3,741	$ 13,442	$ 14,554

Supplemental Guarantor Inform_4

Supplemental Guarantor Information Supplemental Guarantor Information - Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
ASSETS:
Cash, cash equivalents and restricted cash	$ 33,451		$ 21,529	$ 36,360	$ 151,703
Mortgage loans held for sale	128,322		169,651
Inventory	1,827,068		1,674,460
Property and equipment - net	27,621		29,395
Investment in joint venture arrangements	47,557		35,870
Operating lease right-of-use assets	19,059	$ 20,900	0
Deferred income tax asset	11,988		13,482
Investment in subsidiaries	0		0
Intercompany assets	0		0
Goodwill	16,400		16,400
Other assets	70,137		60,794
Total assets	2,181,603		2,021,581
LIABILITIES:
Accounts payable	169,528		131,511
Customer deposits	36,250		32,055
Operating lease liabilities	19,059	$ 20,889	0
Intercompany liabilities	0		0
Other liabilities	131,434		150,051
Community development district obligations	14,328		12,392
Obligation for consolidated inventory not owned	6,687		19,308
Notes payable bank - homebuilding operations	189,900		117,400
Notes payable bank - financial service operations	108,594		153,168
Notes payable - other	5,508		5,938
Senior notes due 2021 - net	298,712		297,884
Senior notes due 2025 - net	246,962		246,571
TOTAL LIABILITIES	1,226,962		1,166,278
TOTAL SHAREHOLDERS' EQUITY	954,641		855,303
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	2,181,603		2,021,581
Consolidation, Eliminations [Member]
ASSETS:
Cash, cash equivalents and restricted cash	0		0	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
Operating lease right-of-use assets	0
Deferred income tax asset	0		0
Investment in subsidiaries	(894,263)		(817,986)
Intercompany assets	(604,413)		(579,447)
Goodwill	0		0
Other assets	0		0
Total assets	(1,498,676)		(1,397,433)
LIABILITIES:
Accounts payable	0		0
Customer deposits	0		0
Operating lease liabilities	0
Intercompany liabilities	(604,413)		(579,447)
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
Senior notes due 2021 - net	0		0
Senior notes due 2025 - net	0		0
TOTAL LIABILITIES	(604,413)		(579,447)
TOTAL SHAREHOLDERS' EQUITY	(894,263)		(817,986)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	(1,498,676)		(1,397,433)
Parent Company [Member]
ASSETS:
Cash, cash equivalents and restricted cash	0		0	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
Operating lease right-of-use assets	0
Deferred income tax asset	0		0
Investment in subsidiaries	894,263		817,986
Intercompany assets	604,413		579,447
Goodwill	0		0
Other assets	1,639		2,325
Total assets	1,500,315		1,399,758
LIABILITIES:
Accounts payable	0		0
Customer deposits	0		0
Operating lease liabilities	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
Senior notes due 2021 - net	298,712		297,884
Senior notes due 2025 - net	246,962		246,571
TOTAL LIABILITIES	545,674		544,455
TOTAL SHAREHOLDERS' EQUITY	954,641		855,303
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,500,315		1,399,758
Guarantor Subsidiaries [Member]
ASSETS:
Cash, cash equivalents and restricted cash	19,366		5,554	21,494	131,522
Mortgage loans held for sale	0		0
Inventory	1,827,068		1,674,460
Property and equipment - net	26,794		28,485
Investment in joint venture arrangements	44,946		33,297
Operating lease right-of-use assets	15,716
Deferred income tax asset	11,988		13,482
Investment in subsidiaries	0		0
Intercompany assets	0		0
Goodwill	16,400		16,400
Other assets	56,200		47,738
Total assets	2,018,478		1,819,416
LIABILITIES:
Accounts payable	168,950		131,089
Customer deposits	36,250		32,055
Operating lease liabilities	15,718
Intercompany liabilities	600,611		578,498
Other liabilities	126,285		140,860
Community development district obligations	14,328		12,392
Obligation for consolidated inventory not owned	6,687		19,308
Notes payable bank - homebuilding operations	189,900		117,400
Notes payable bank - financial service operations	0		0
Notes payable - other	5,508		5,938
Senior notes due 2021 - net	0		0
Senior notes due 2025 - net	0		0
TOTAL LIABILITIES	1,164,237		1,037,540
TOTAL SHAREHOLDERS' EQUITY	854,241		781,876
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	2,018,478		1,819,416
Non-Guarantor Subsidiaries [Member]
ASSETS:
Cash, cash equivalents and restricted cash	14,085		15,975	$ 14,866	$ 20,181
Mortgage loans held for sale	128,322		169,651
Inventory	0		0
Property and equipment - net	827		910
Investment in joint venture arrangements	2,611		2,573
Operating lease right-of-use assets	3,343
Deferred income tax asset	0		0
Investment in subsidiaries	0		0
Intercompany assets	0		0
Goodwill	0		0
Other assets	12,298		10,731
Total assets	161,486		199,840
LIABILITIES:
Accounts payable	578		422
Customer deposits	0		0
Operating lease liabilities	3,341
Intercompany liabilities	3,802		949
Other liabilities	5,149		9,191
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	108,594		153,168
Notes payable - other	0		0
Senior notes due 2021 - net	0		0
Senior notes due 2025 - net	0		0
TOTAL LIABILITIES	121,464		163,730
TOTAL SHAREHOLDERS' EQUITY	40,022		36,110
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 161,486		$ 199,840

Supplemental Guarantor Inform_5

Supplemental Guarantor Information Supplemental Guarantor Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	$ 977	$ (75,119)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(2,626)	(5,866)
Return of capital from joint venture arrangements	438	676
Acquisition, net of cash acquired	0	(100,960)
Intercompany Investing	0	0
Investment in joint venture arrangements	(23,522)	(20,487)
Net proceeds from sale of mortgage servicing rights	0	6,335
Net cash provided by (used in) investing activities	(25,710)	(120,302)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Convertible Debt		(65,941)
Proceeds from bank borrowings - homebuilding operations	568,900	519,900
Principal repayments of bank borrowings - homebuilding operations	(496,400)	(297,200)
Net repayment of bank borrowings - financial services operations	(44,574)	(64,169)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(429)	(1,738)
Intercompany Financing	0	0
Payments for repurchase of common stock	(5,150)	(11,085)
Dividends paid	0	0
Debt issue costs	(40)	(115)
Proceeds from exercise of stock options	14,348	426
Net cash (used in) provided by financing activities	36,655	80,078
Net increase (decrease) in cash, cash equivalents and restricted cash	11,922	(115,343)
Cash, cash equivalents and restricted cash-Period Start	21,529	151,703
Cash, cash equivalents and restricted cash-Period End	33,451	36,360
Consolidation, Eliminations [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(9,530)	(11,700)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	0	0
Return of capital from joint venture arrangements	0	0
Acquisition, net of cash acquired		0
Intercompany Investing	18,728	1,041
Investment in joint venture arrangements	0	0
Net proceeds from sale of mortgage servicing rights		0
Net cash provided by (used in) investing activities	18,728	1,041
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Convertible Debt		0
Proceeds from bank borrowings - homebuilding operations	0	0
Principal 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	(18,728)	(1,041)
Payments for repurchase of common stock	0	0
Dividends paid	9,530	11,700
Debt issue costs	0	0
Proceeds from exercise of stock options	0	0
Net cash (used in) provided by financing activities	(9,198)	10,659
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash-Period Start	0	0
Cash, cash equivalents and restricted cash-Period End	0	0
Parent Company [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	9,530	11,700
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	0	0
Return of capital from joint venture arrangements	0	0
Acquisition, net of cash acquired		0
Intercompany Investing	(18,728)	(1,041)
Investment in joint venture arrangements	0	0
Net proceeds from sale of mortgage servicing rights		0
Net cash provided by (used in) investing activities	(18,728)	(1,041)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Convertible Debt		0
Proceeds from bank borrowings - homebuilding operations	0	0
Principal 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
Payments for repurchase of common stock	(5,150)	(11,085)
Dividends paid	0	0
Debt issue costs	0	0
Proceeds from exercise of stock options	14,348	426
Net cash (used in) provided by financing activities	9,198	(10,659)
Net increase (decrease) in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash-Period Start	0	0
Cash, cash equivalents and restricted cash-Period End	0	0
Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	(48,625)	(144,828)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(2,438)	(5,636)
Return of capital from joint venture arrangements	0	0
Acquisition, net of cash acquired		(100,960)
Intercompany Investing	0	0
Investment in joint venture arrangements	(23,351)	(19,412)
Net proceeds from sale of mortgage servicing rights		0
Net cash provided by (used in) investing activities	(25,789)	(126,008)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Convertible Debt		(65,941)
Proceeds from bank borrowings - homebuilding operations	568,900	519,900
Principal repayments of bank borrowings - homebuilding operations	(496,400)	(297,200)
Net repayment of bank borrowings - financial services operations	0	0
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	(429)	(1,738)
Intercompany Financing	16,155	5,862
Payments for repurchase of common stock	0	0
Dividends paid	0	0
Debt issue costs	0	(75)
Proceeds from exercise of stock options	0	0
Net cash (used in) provided by financing activities	88,226	160,808
Net increase (decrease) in cash, cash equivalents and restricted cash	13,812	(110,028)
Cash, cash equivalents and restricted cash-Period Start	5,554	131,522
Cash, cash equivalents and restricted cash-Period End	19,366	21,494
Non-Guarantor Subsidiaries [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash (used in) provided by operating activities	49,602	69,709
Net Cash Provided by (Used in) Investing Activities [Abstract]
Purchase of property and equipment	(188)	(230)
Return of capital from joint venture arrangements	438	676
Acquisition, net of cash acquired		0
Intercompany Investing	0	0
Investment in joint venture arrangements	(171)	(1,075)
Net proceeds from sale of mortgage servicing rights		6,335
Net cash provided by (used in) investing activities	79	5,706
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Convertible Debt		0
Proceeds from bank borrowings - homebuilding operations	0	0
Principal repayments of bank borrowings - homebuilding operations	0	0
Net repayment of bank borrowings - financial services operations	(44,574)	(64,169)
Proceeds from (principal repayments of) notes payable-other and CDD bond obligations	0	0
Intercompany Financing	2,573	(4,821)
Payments for repurchase of common stock	0	0
Dividends paid	(9,530)	(11,700)
Debt issue costs	(40)	(40)
Proceeds from exercise of stock options	0	0
Net cash (used in) provided by financing activities	(51,571)	(80,730)
Net increase (decrease) in cash, cash equivalents and restricted cash	(1,890)	(5,315)
Cash, cash equivalents and restricted cash-Period Start	15,975	20,181
Cash, cash equivalents and restricted cash-Period End	$ 14,085	$ 14,866

Share Repurchase Program (Detai

Share Repurchase Program (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended	9 Months Ended		14 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019
Share Repurchase Program [Abstract]
Stock Repurchase Program, Authorized Amount		$ 50,000		$ 50,000
Repurchase of common shares, shares		(0.2)		(1.3)
Repurchase of common shares	$ 11,085	$ 5,150	$ 11,085	$ 30,900
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 19,100		$ 19,100

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 653,345	$ 567,842	$ 1,758,140	$ 1,563,797
Gain (Loss) on Hedging Activity	(4,700)	(200)	(10,700)	3,000
Construction [Member]
Disaggregation of Revenue [Line Items]
Revenues	631,380	554,820	1,695,558	1,518,278
Land [Member]
Disaggregation of Revenue [Line Items]
Revenues	8,511	829	23,042	6,424
Financial Services Sector [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 13,454	$ 12,193	$ 39,540	$ 39,095

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets	$ 19,059	$ 20,900	$ 0
Leases not yet commenced	25,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	(1,800)
Increase in Operating leases due to new leases	2,100
Operating Lease, Cost	3,900
Operating lease liabilities	$ 19,059	$ 20,889	$ 0

Leases Lease Expense Detail (De

Leases Lease Expense Detail (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)Rate	Sep. 30, 2019USD ($)Rate
Schedule of Operating Lease Payments Due [Abstract]
Operating Lease, Payments	$ 1,534	$ 4,626
Variable Lease, Payment	427	1,305
Short-term Lease Payments	429	1,306
Operating Lease, Expense	$ 2,390	$ 7,237
Operating Lease, Weighted Average Remaining Lease Term	4 years 2 months 12 days	4 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent | Rate	5.00%	5.00%

Leases Schedule of Operating Le

Leases Schedule of Operating Lease Payments Due (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Schedule of Operating Lease Payments Due [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 1,520
Lessee, Operating Lease, Liability, Payments, Due Year One	5,457
Lessee, Operating Lease, Liability, Payments, Due Year Two	4,778
Lessee, Operating Lease, Liability, Payments, Due Year Three	4,171
Lessee, Operating Lease, Liability, Payments, Due Year Four	3,170
Lessee, Operating Lease, Liability, Payments, Due Year Five	1,733
Lessee, Operating Lease, Liability, Payments, Due after Year Five	387
Lessee, Operating Lease, Liability, Payments, Due	21,216
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(2,157)
Operating lease right-of-use assets	$ 19,059	$ 20,900	$ 0

Leases Future Minimum Payments

Leases Future Minimum Payments Due under ASC 840 (Details) $ in Millions	Dec. 31, 2018USD ($)
Schedule of Operating Lease Payments Due [Abstract]
Operating Leases, Future Minimum Payments Due	$ 22.5
Operating Leases, Future Minimum Payments Due, Next Twelve Months	5.5
Operating Leases, Future Minimum Payments, Due in Two Years	4.4
Operating Leases, Future Minimum Payments, Due in Three Years	4.1
Operating Leases, Future Minimum Payments, Due in Four Years	3.8
Operating Leases, Future Minimum Payments, Due in Five Years	2.8
Operating Leases, Future Minimum Payments, Due Thereafter	$ 1.9