PulteGroup (PHM) 10-Q 21 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2016	Jul. 15, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	PULTEGROUP INC/MI/
Entity Central Index Key	822,416
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		343,619,974

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and equivalents	$ 229,187	$ 754,161
Restricted cash	26,484	21,274
House and land inventory	6,629,464	5,450,058
Land held for sale	85,781	81,492
Residential mortgage loans available-for-sale	364,004	442,715
Investments in unconsolidated entities	52,500	41,267
Other assets	681,168	660,835
Intangible assets	161,372	110,215
Deferred tax assets, net	1,277,096	1,394,879
Total assets	9,507,056	8,956,896
Liabilities:
Accounts payable	340,847	327,725
Customer deposits	252,259	186,141
Accrued and other liabilities	1,269,263	1,284,273
Income tax liabilities	33,980	57,050
Financial Services debt	189,557	267,877
Term loan	499,212	498,423
Senior notes	2,103,821	1,576,082
Total liabilities	4,688,939	4,197,571
Shareholders' equity	4,818,117	4,759,325
Total liabilities and shareholders' equity	$ 9,507,056	$ 8,956,896

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Homebuilding
Home sale revenues	$ 1,751,882	$ 1,243,077	$ 3,146,125	$ 2,331,235
Land sale revenues	4,950	6,460	7,437	24,002
Total homebuilding revenues	1,756,832	1,249,537	3,153,562	2,355,237
Financial Services	43,082	30,754	78,930	58,352
Consolidated revenues	1,799,914	1,280,291	3,232,492	2,413,589
Homebuilding Cost of Revenues:
Home sale cost of revenues	1,374,509	953,280	2,463,838	1,794,425
Land sale cost of revenues	4,403	5,312	6,430	18,691
Total cost of revenues	1,378,912	958,592	2,470,268	1,813,116
Financial Services expenses	26,180	20,767	52,298	43,308
Selling, general, and administrative expenses	192,333	130,119	383,348	291,431
Other expense (income), net	12,909	3,186	18,785	2,303
Income before income taxes	189,580	167,627	307,793	263,431
Income tax expense	71,820	64,303	106,733	105,136
Net income	$ 117,760	$ 103,324	$ 201,060	$ 158,295
Per share:
Basic earnings (usd per share)	$ 0.34	$ 0.28	$ 0.58	$ 0.43
Diluted earnings (usd per share)	0.34	0.28	0.57	0.43
Cash dividends declared (usd per share)	$ 0.09	$ 0.08	$ 0.18	$ 0.16
Number of shares used in calculation:
Basic shares outstanding (shares)	345,240	361,009	346,528	363,863
Effect of dilutive securities (shares)	2,759	3,232	2,710	3,297
Diluted shares outstanding (shares)	347,999	364,241	349,238	367,160

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 117,760	$ 103,324	$ 201,060	$ 158,295
Other comprehensive income, net of tax:
Change in value of derivatives	20	21	41	42
Other comprehensive income	20	21	41	42
Comprehensive income	$ 117,780	$ 103,345	$ 201,101	$ 158,337

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Shareholders' Equity beginning of period at Dec. 31, 2014	$ 4,804,954	$ 3,695	$ 3,072,996	$ (690)	$ 1,728,953
Shareholders' Equity, shares beginning of period (shares) at Dec. 31, 2014		369,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises (shares)		620
Stock option exercises	7,222	$ 6	7,216
Stock issuances, net of cancellations (shares)		442
Stock issuances, net of cancellations	7,423	$ 4	7,419
Dividends declared	(58,227)		8		(58,235)
Share repurchases	(322,066)	$ (157)			(321,909)
Share repurchases (shares)		(15,702)
Share-based compensation	10,233		10,233		0
Excess tax benefits (deficiencies) from share-based awards	(1,617)		(1,617)
Net income	158,295				158,295
Other comprehensive income	42			42
Shareholders' Equity end of period at Jun. 30, 2015	4,606,259	$ 3,548	3,096,255	(648)	1,507,104
Shareholders' Equity, shares end of period (shares) at Jun. 30, 2015		354,819
Shareholders' Equity beginning of period at Dec. 31, 2015	4,759,325	$ 3,491	3,093,802	(609)	1,662,641
Shareholders' Equity, shares beginning of period (shares) at Dec. 31, 2015		349,149
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises (shares)		67
Stock option exercises	742	$ 0	742
Stock issuances, net of cancellations (shares)		499
Stock issuances, net of cancellations	8,856	$ 5	8,851
Dividends declared	(62,747)		0		(62,747)
Share repurchases	(100,806)	$ (58)			(100,748)
Share repurchases (shares)		(5,819)
Share-based compensation	12,209		12,209
Excess tax benefits (deficiencies) from share-based awards	(563)		(563)
Net income	201,060				201,060
Other comprehensive income	41			41
Shareholders' Equity end of period at Jun. 30, 2016	$ 4,818,117	$ 3,438	$ 3,115,041	$ (568)	$ 1,700,206
Shareholders' Equity, shares end of period (shares) at Jun. 30, 2016		343,896

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 201,060	$ 158,295
Adjustments to reconcile net income to net cash from operating activities:
Deferred income tax expense	117,783	103,059
Depreciation and amortization	26,705	21,853
Share-based compensation expense	16,906	14,654
Other, net	9,790	9,319
Increase (decrease) in cash due to:
Restricted cash	(5,210)	(4,526)
Inventories	(810,417)	(485,676)
Residential mortgage loans available-for-sale	78,460	70,123
Other assets	(15,506)	(57,054)
Accounts payable, accrued and other liabilities	55,113	(21,150)
Net cash provided by (used in) operating activities	(325,316)	(191,103)
Cash flows from investing activities:
Capital expenditures	(21,044)	(23,115)
Cash used for business acquisition	(430,025)	0
Other investing activities, net	(8,296)	14,650
Net cash used in investing activities	(459,365)	(8,465)
Cash flows from financing activities:
Proceeds from debt issuance	986,084	0
Repayments of debt	(484,974)	(237,994)
Borrowings under revolving credit facility	358,000	0
Repayments under revolving credit facility	(358,000)	0
Financial Services borrowings (repayments)	(78,320)	(20,970)
Stock option exercises	742	7,222
Share repurchases	(100,806)	(322,066)
Dividends paid	(63,019)	(59,125)
Net cash provided by (used in) financing activities	259,707	(632,933)
Net increase (decrease) in cash and equivalents	(524,974)	(832,501)
Cash and equivalents at beginning of period	754,161	1,292,862
Cash and equivalents at end of period	229,187	460,361
Supplemental Cash Flow Information:
Interest paid (capitalized), net	(14,671)	(1,911)
Income taxes paid (refunded), net	$ (5,457)	$ (1,685)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation PulteGroup, Inc. is one of the largest homebuilders in the United States ("U.S."), and our common shares trade on the New York Stock Exchange under the ticker symbol “PHM”. Unless the context otherwise requires, the terms "PulteGroup", the "Company", "we", "us", and "our" used herein refer to PulteGroup, Inc. and its subsidiaries. While our subsidiaries engage primarily in the homebuilding business, we also have mortgage banking operations, conducted principally through Pulte Mortgage LLC (“Pulte Mortgage”), and title operations. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 . Business acquisition We acquired substantially all of the assets of JW Homes ("Wieland") in January 2016, for $ 430.0 million in cash and the assumption of certain payables related to such assets. The acquired net assets were located in Atlanta, Charleston, Charlotte, Nashville, and Raleigh, and included approximately 7,000 lots, including 375 homes in inventory, and control of approximately 1,300 lots through land option contracts. We also assumed a sales order backlog of 317 homes. The acquired net assets were recorded at their estimated fair values and resulted in goodwill of $40.1 million and separately identifiable intangible assets of $18.0 million comprised of the John Wieland Homes and Neighborhoods tradename, which is being amortized over a 20 -year life. The acquisition of these assets was not material to our results of operations or financial condition. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Reclassifications Certain prior period amounts have been reclassified to conform to the current year presentation, including the adoption in January 2016 of Accounting Standards Update ("ASU") 2015-03, “Interest - Imputation of Interest,” which changes the presentation of debt issuance costs in the balance sheet from an asset to a direct reduction of the carrying amount of the related debt. The adoption of this guidance resulted in the reclassification of applicable unamortized debt issuance costs from other assets to senior notes and term loan. See Note 4 . Subsequent events We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission ("SEC"). Other expense (income), net Other expense (income), net consists of the following ($000’s omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Write-off of deposits and pre-acquisition costs $ 7,414 $ 1,241 $ 10,454 $ 3,110 Lease exit and related costs 7,311 336 5,946 222 Amortization of intangible assets 3,450 3,225 6,900 6,450 Interest income (849 ) (856 ) (1,772 ) (1,955 ) Interest expense 186 208 360 395 Equity in earnings of unconsolidated entities (3,829 ) (1,164 ) (4,004 ) (2,271 ) Miscellaneous, net (774 ) 196 901 (3,648 ) $ 12,909 $ 3,186 $ 18,785 $ 2,303 Earnings per share Basic earnings per share is computed by dividing income available to common shareholders (the “Numerator”) by the weighted-average number of common shares outstanding, adjusted for unvested shares (the “Denominator”) for the period. Computing diluted earnings per share is similar to computing basic earnings per share, except that the Denominator is increased to include the dilutive effects of stock options, unvested restricted shares, and unvested restricted share units, and other potentially dilutive instruments. Any stock options that have an exercise price greater than the average market price are considered to be anti-dilutive and are excluded from the diluted earnings per share calculation. Our diluted earnings per share calculation excluded 2.3 million potentially dilutive instruments, including stock options, unvested restricted shares, and unvested restricted share units, for both the three and six months ended June 30, 2016 , respectively, and 4.3 million and 4.5 million potentially dilutive instruments, including stock options, unvested restricted shares, and unvested restricted share units, for the three and six months ended June 30, 2015 , respectively. In accordance with ASC 260 "Earnings Per Share", the two-class method determines earnings per share for each class of common stock and participating securities according to an earnings allocation formula that adjusts the Numerator for dividends or dividend equivalents and participation rights in undistributed earnings. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and, therefore, are included in computing earnings per share pursuant to the two-class method. Our outstanding restricted share awards, restricted share units, and deferred shares are considered participating securities. The following table presents the earnings per common share (000's omitted, except per share data): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Numerator: Net income $ 117,760 $ 103,324 $ 201,060 $ 158,295 Less: earnings distributed to participating securities (283 ) (185 ) (568 ) (373 ) Less: undistributed earnings allocated to participating securities (791 ) (475 ) (1,064 ) (647 ) Numerator for basic earnings per share $ 116,686 $ 102,664 $ 199,428 $ 157,275 Add back: undistributed earnings allocated to participating securities 791 475 1,064 647 Less: undistributed earnings reallocated to participating securities (785 ) (471 ) (1,055 ) (641 ) Numerator for diluted earnings per share $ 116,692 $ 102,668 $ 199,437 $ 157,281 Denominator: Basic shares outstanding 345,240 361,009 346,528 363,863 Effect of dilutive securities 2,759 3,232 2,710 3,297 Diluted shares outstanding 347,999 364,241 349,238 367,160 Earnings per share: Basic $ 0.34 $ 0.28 $ 0.58 $ 0.43 Diluted $ 0.34 $ 0.28 $ 0.57 $ 0.43 Residential mortgage loans available-for-sale Substantially all of the loans originated by us are sold in the secondary mortgage market within a short period of time after origination, generally within 30 days . At June 30, 2016 and December 31, 2015 , residential mortgage loans available-for-sale had an aggregate fair value of $364.0 million and $442.7 million , respectively, and an aggregate outstanding principal balance of $348.7 million and $429.6 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $0.4 million and $(0.9) million for the three months ended June 30, 2016 and 2015 , respectively, and $1.3 million and $(0.8) million for the six months ended June 30, 2016 and 2015 . These changes in fair value were substantially offset by changes in fair value of the corresponding hedging instruments. Net gains from the sale of mortgages were $25.8 million and $17.6 million for the three months ended June 30, 2016 and 2015 , respectively, and $47.3 million and $33.8 million for the six months ended June 30, 2016 and 2015 , respectively, and have been included in Financial Services revenues. Derivative instruments and hedging activities We are party to interest rate lock commitments ("IRLCs") with customers resulting from our mortgage origination operations. At June 30, 2016 and December 31, 2015 , we had aggregate interest rate lock commitments of $320.8 million and $208.2 million , respectively, which were originated at interest rates prevailing at the date of commitment. We hedge our exposure to interest rate market risk relating to residential mortgage loans available-for-sale and IRLCs using forward contracts on mortgage-backed securities, which are commitments to either purchase or sell a specified financial instrument at a specified future date for a specified price, and whole loan commitments, which are obligations of the investor to buy loans at a specified price within a specified time period. Forward contracts on mortgage-backed securities are the predominant derivative financial instruments we use to minimize market risk during the period from the time we execute an interest rate lock until the time the loan is sold to an investor. At June 30, 2016 and December 31, 2015 , we had unexpired forward contracts of $574.0 million and $525.0 million , respectively, and whole loan investor commitments of $65.6 million and $77.6 million , respectively. Changes in the fair value of IRLCs and other derivative financial instruments are recognized in Financial Services revenues, and the fair values are reflected in other assets or other liabilities, as applicable. There are no credit-risk-related contingent features within our derivative agreements, and counterparty risk is considered minimal. Gains and losses on interest rate lock commitments and residential mortgage loans available-for-sale are substantially offset by corresponding gains or losses on forward contracts on mortgage-backed securities and whole loan commitments. We are generally not exposed to variability in cash flows of derivative instruments for more than approximately 60 days. The fair values of derivative instruments and their locations in the Condensed Consolidated Balance Sheets are summarized below ($000’s omitted): June 30, 2016 December 31, 2015 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 11,591 $ 111 $ 5,854 $ 280 Forward contracts 401 6,735 1,178 840 Whole loan commitments 111 414 358 345 $ 12,103 $ 7,260 $ 7,390 $ 1,465 New accounting pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, "Revenue from Contracts with Customers". The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The FASB has also issued, or is preparing to issue, a number of updates to this standard. The standard is effective for us for annual and interim periods beginning January 1, 2018 and allows for full retrospective or modified retrospective methods of adoption. We are currently evaluating the impact that the standard will have on our financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern and provide related disclosures. ASU 2014-15 is effective for annual and interim reporting periods beginning January 1, 2017 and is not expected to have a material impact on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018, and early adoption is permitted. ASU 2016-02 requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact that the standard will have on our financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"), which includes multiple amendments intended to simplify aspects of share-based payment accounting. ASU 2016-09 will be effective for annual reporting periods beginning after December 15, 2016, with early adoption permitted. Amendments to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, and forfeitures will be applied using a modified retrospective transition method through a cumulative-effect adjustment to equity as of the beginning of the period of adoption. Amendments to the presentation of employee taxes on the statement of cash flows will be applied retrospectively, and amendments requiring the recognition of excess tax benefits and tax deficiencies in the income statement are to be applied prospectively. We are currently evaluating the impact that the standard will have on our financial statements. 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"), which changes the impairment model for most financial assets and certain other instruments from an "incurred loss" approach to a new "expected credit loss" methodology and also requires that credit losses from available-for-sale debt securities be presented as an allowance instead of a write-down. ASU 2016-13 is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and requires full retrospective application on adoption. We are currently evaluating the impact the standard will have on our financial statements.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventory	Inventory Major components of inventory were as follows ($000’s omitted): June 30, December 31, Homes under construction $ 2,058,479 $ 1,408,260 Land under development 3,704,857 3,259,066 Raw land 866,128 782,732 $ 6,629,464 $ 5,450,058 We capitalize interest cost into inventory during the active development and construction of our communities. In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels. Information related to interest capitalized into inventory is as follows ($000’s omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest in inventory, beginning of period $ 158,653 $ 166,887 $ 149,498 $ 167,638 Interest capitalized 38,231 31,296 73,515 62,099 Interest expensed (29,396 ) (33,799 ) (55,525 ) (65,353 ) Interest in inventory, end of period $ 167,488 $ 164,384 $ 167,488 $ 164,384 Land option agreements We enter into land option agreements in order to procure land for the construction of homes in the future. Pursuant to these land option agreements, we generally provide a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. Such contracts enable us to defer acquiring portions of properties owned by third parties or unconsolidated entities until we have determined whether and when to exercise our option, which reduces our financial risks associated with long-term land holdings. Option deposits and pre-acquisition costs (such as environmental testing, surveys, engineering, and entitlement costs) are capitalized if the costs are directly identifiable with the land under option, the costs would be capitalized if we owned the land, and acquisition of the property is probable. Such costs are reflected in other assets and are reclassified to inventory upon taking title to the land. We write off deposits and pre-acquisition costs when it becomes probable that we will not go forward with the project or recover the capitalized costs. Such decisions take into consideration changes in local market conditions, the timing of required land purchases, the availability and best use of necessary incremental capital, and other factors. We record any such write-offs of deposits and pre-acquisition costs within other expense, net. If an entity holding the land under option is a variable interest entity ("VIE"), our deposit represents a variable interest in that entity. No VIEs required consolidation at either June 30, 2016 or December 31, 2015 because we determined that we were not the VIE's primary beneficiary. Our maximum exposure to loss related to these VIEs is generally limited to our deposits and pre-acquisition costs under the land option agreements. The following provides a summary of our interests in land option agreements as of June 30, 2016 and December 31, 2015 ($000’s omitted): June 30, 2016 December 31, 2015 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 80,063 $ 928,327 $ 77,641 $ 1,064,506 Other land options 98,744 1,165,813 84,478 981,687 $ 178,807 $ 2,094,140 $ 162,119 $ 2,046,193

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment information	Segment information Our Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on such land. For reporting purposes, our Homebuilding operations are aggregated into six reportable segments: Northeast: Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia Southeast: Georgia, North Carolina, South Carolina, Tennessee Florida: Florida Midwest: Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio Texas: Texas West: Arizona, California, Nevada, New Mexico, Washington We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations and operate generally in the same markets as the Homebuilding segments. Operating Data by Segment ($000’s omitted) Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Revenues: Northeast $ 152,517 $ 137,181 $ 271,171 $ 248,334 Southeast (a) 387,675 245,250 682,101 431,038 Florida 283,440 208,740 553,281 411,802 Midwest 286,649 227,489 476,541 406,141 Texas 255,471 185,489 468,763 362,988 West 391,080 245,388 701,705 494,934 1,756,832 1,249,537 3,153,562 2,355,237 Financial Services 43,082 30,754 78,930 58,352 Consolidated revenues $ 1,799,914 $ 1,280,291 $ 3,232,492 $ 2,413,589 Income before income taxes: Northeast $ 19,238 $ 15,330 $ 28,828 $ 24,857 Southeast (a) 40,758 39,871 60,528 64,495 Florida 44,353 39,315 84,655 72,539 Midwest 26,253 14,630 31,873 15,810 Texas 36,223 24,488 64,740 47,278 West 41,829 32,441 75,336 63,521 Other homebuilding (b) (36,108 ) (8,435 ) (64,981 ) (40,113 ) 172,546 157,640 280,979 248,387 Financial Services 17,034 9,987 26,814 15,044 Consolidated income before income taxes $ 189,580 $ 167,627 $ 307,793 $ 263,431 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. For the three and six months ended June 30, 2015 , Other homebuilding also includes a reserve reversal of $26.9 million resulting from a favorable legal settlement. Operating Data by Segment ($000's omitted) June 30, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 215,519 $ 307,440 $ 122,107 $ 645,066 $ 783,163 Southeast (a) 376,012 554,662 230,502 1,161,176 1,263,995 Florida 288,038 641,869 164,140 1,094,047 1,238,973 Midwest 303,569 435,719 62,252 801,540 859,922 Texas 234,589 367,399 85,593 687,581 782,448 West 614,600 1,186,901 175,141 1,976,642 2,185,570 Other homebuilding (b) 26,152 210,867 26,393 263,412 1,957,860 2,058,479 3,704,857 866,128 6,629,464 9,071,931 Financial Services — — — — 435,125 $ 2,058,479 $ 3,704,857 $ 866,128 $ 6,629,464 $ 9,507,056 December 31, 2015 Homes Under Land Under Raw Land Total Total Northeast $ 163,173 $ 292,631 $ 121,522 $ 577,326 $ 688,610 Southeast 196,456 367,577 139,246 703,279 765,933 Florida 227,910 574,092 97,185 899,187 1,013,543 Midwest 197,738 414,386 68,918 681,042 734,834 Texas 191,424 317,702 107,737 616,863 691,342 West 413,208 1,094,112 222,920 1,730,240 1,924,958 Other homebuilding (b) 18,351 198,566 25,204 242,121 2,628,687 1,408,260 3,259,066 782,732 5,450,058 8,447,907 Financial Services — — — — 508,989 $ 1,408,260 $ 3,259,066 $ 782,732 $ 5,450,058 $ 8,956,896 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt Senior notes Our senior notes are summarized as follows ($000’s omitted): June 30, December 31, 6.500% unsecured senior notes due May 2016 (a) — 465,245 7.625% unsecured senior notes due October 2017 (b) 123,000 123,000 4.250% unsecured senior notes due March 2021 (a) 300,000 — 5.500% unsecured senior notes due March 2026 (a) 700,000 — 7.875% unsecured senior notes due June 2032 (a) 300,000 300,000 6.375% unsecured senior notes due May 2033 (a) 400,000 400,000 6.000% unsecured senior notes due February 2035 (a) 300,000 300,000 Net premiums, discounts, and issuance costs (c) (19,179 ) (12,163 ) Total senior notes $ 2,103,821 $ 1,576,082 Estimated fair value $ 2,204,630 $ 1,643,651 (a) Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (b) Not redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (c) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest cost over the respective terms of the senior notes. As discussed in Note 1 , we adopted ASU 2015-03 in January 2016. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the 2016 presentation. As a result, $10.3 million of debt issuance costs at December 31, 2015 , were reclassified from other assets to a reduction in senior notes. In February 2016 we issued $1.0 billion of senior unsecured notes, consisting of $300 million of 4.25% senior notes due March 1, 2021 , and $700 million of 5.50% senior notes due March 1, 2026 . The net proceeds from the senior notes issuance were used to fund the retirement of $465.2 million of our senior notes that matured in May 2016, with the remaining net proceeds used for general corporate purposes. The notes are senior unsecured obligations and rank equally in right of payment with the existing and future senior unsecured indebtedness of the Company and each of the guarantors, respectively. The notes are redeemable at our option at any time up to the date of maturity. Revolving credit facility In June 2016, we entered into an amended and restated senior unsecured revolving credit facility (the “Revolving Credit Facility”) that provides for an increase in our maximum borrowings from $500.0 million to $750.0 million and extends the maturity date from July 2017 to June 2019. The Revolving Credit Facility contains an uncommitted accordion feature that could increase the size of the Revolving Credit Facility to $1.25 billion , subject to certain conditions and availability of additional bank commitments. The Revolving Credit Facility also provides for the issuance of letters of credit that reduce the available borrowing capacity under the Revolving Credit Facility with a sublimit of $375.0 million at June 30, 2016 . The interest rate on borrowings under the Revolving Credit Facility may be based on either the London Interbank Offered Rate ("LIBOR") or a base rate plus an applicable margin, as defined. We had no borrowings outstanding and $227.2 million and $191.3 million of letters of credit issued under the Revolving Credit Facility at June 30, 2016 and December 31, 2015 , respectively. The Revolving Credit Facility contains financial covenants that require us to maintain a minimum Tangible Net Worth, a minimum Interest Coverage Ratio, and a maximum Debt-to-Capitalization Ratio (as each term is defined in the Revolving Credit Facility). As of June 30, 2016 , we were in compliance with all covenants. Outstanding balances under the Revolving Credit Facility are guaranteed by certain of our wholly-owned subsidiaries. Term loan On September 30, 2015, we entered into a senior unsecured $500.0 million term loan agreement (the “Term Loan”) with an initial maturity date of January 3, 2017, which can be extended at our option up to 12 months. The interest rate on the Term Loan may be based on either LIBOR or a base rate plus an applicable margin, as defined. Borrowings are interest only with the principal being due at the maturity date and are guaranteed by the same wholly-owned subsidiaries as under the Revolving Credit Agreement. The Term Loan contains customary affirmative and negative covenants for loans of this type, including the same financial covenants as under the Revolving Credit Facility. As of June 30, 2016 , we were in compliance with all covenants. Limited recourse notes payable Certain of our local homebuilding operations maintain limited recourse collateralized notes payable with third parties that totaled $17.2 million at June 30, 2016 and $35.3 million at December 31, 2015 . These notes have maturities ranging up to four years, are collateralized by the land positions to which they relate, have no recourse to any other assets, and are classified within accrued and other liabilities. The stated interest rates on these notes range up to 5.00% . Pulte Mortgage Pulte Mortgage maintains a master repurchase agreement (the “Repurchase Agreement”) with third party lenders that expires in September 2016 . The Repurchase Agreement's borrowing capacity was $310.0 million through January 18, 2016, after which it decreased to $175.0 million through June 26, 2016, at which time it increased to $200.0 million , which is effective through the maturity date. The purpose of the changes in capacity during the term of the agreement is to lower associated fees during seasonally lower volume periods of mortgage origination activity. Borrowings under the Repurchase Agreement are secured by residential mortgage loans available-for-sale. The Repurchase Agreement contains various affirmative and negative covenants applicable to Pulte Mortgage, including quantitative thresholds related to net worth, net income, and liquidity. Pulte Mortgage had $189.6 million and $267.9 million outstanding under the Repurchase Agreement at June 30, 2016 and December 31, 2015 , respectively, and was in compliance with all of its covenants and requirements as of such dates.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Shareholders’ equity	Shareholders’ equity During the six months ended June 30, 2016 , we declared cash dividends totaling $62.7 million and repurchased 5.6 million shares under our repurchase authorization for a total of $97.7 million . During the six months ended June 30, 2015 , we declared cash dividends totaling $58.2 million and repurchased 15.3 million shares under our repurchase authorization for a total of $313.0 million . At June 30, 2016 , we had remaining authorization to repurchase $507.1 million of common shares. On July 20, 2016, our Board of Directors approved a $1.0 billion increase in our share repurchase authorization, raising our total authorization to $1.5 billion. We plan to repurchase $250.0 million of shares in each of the third and fourth quarters of 2016 and $1.0 billion of shares in 2017. Under our share-based compensation plans, we accept shares as payment under certain conditions related to stock option exercises and vesting of shares, generally related to the payment of minimum tax obligations. During the six months ended June 30, 2016 and 2015 , employees surrendered shares valued at $3.1 million and $9.0 million , respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Our effective tax rate for the three and six months ended June 30, 2016 was 37.9% and 34.7% , respectively, compared to 38.4% and 39.9% , respectively, for the same periods in 2015. Our effective tax rate for the current year differed from the federal statutory tax rate primarily due to state income taxes on current year earnings and the favorable resolution of certain state income tax matters. For the prior year, our effective tax rate differed from the federal statutory tax rate primarily due to state income taxes and adjustments to deferred taxes due to changes in state laws and business operations. At June 30, 2016 and December 31, 2015, we had deferred tax assets, net of deferred tax liabilities and valuation allowance, of $1.3 billion and $1.4 billion , respectively. The accounting for deferred taxes is based upon estimates of future results. Differences between estimated and actual results could result in changes in the valuation of deferred tax assets that could have a material impact on our consolidated results of operations or financial position. Changes in existing tax laws could also affect actual tax results and the realization of deferred tax assets over time. Unrecognized tax benefits represent the difference between tax positions taken or expected to be taken in a tax return and the benefits recognized for financial statement purposes. At June 30, 2016 and December 31, 2015, we had $22.5 million and $39.0 million , respectively, of gross unrecognized tax benefits and $11.9 million and $17.2 million , respectively, of related accrued interest and penalties. It is reasonably possible within the next twelve months that our gross unrecognized tax benefits may decrease by up to $18.5 million , excluding interest and penalties, primarily due to expirations of certain statutes of limitations and potential settlements. We are currently under examination by the IRS and various state taxing jurisdictions and anticipate finalizing certain examinations within the next twelve months. The final outcome of these examinations is not yet determinable. The statutes of limitation for our major tax jurisdictions generally remain open for examination for tax years 2005 to 2016 .

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value disclosures	Fair value disclosures ASC 820, “Fair Value Measurements and Disclosures,” provides a framework for measuring fair value in generally accepted accounting principles and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy can be summarized as follows: Level 1 Fair value determined based on quoted prices in active markets for identical assets or liabilities. Level 2 Fair value determined using significant observable inputs, generally either quoted prices in active markets for similar assets or liabilities or quoted prices in markets that are not active. Level 3 Fair value determined using significant unobservable inputs, such as pricing models, discounted cash flows, or similar techniques. Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): Financial Instrument Fair Value Fair Value June 30, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 364,004 $ 442,715 Interest rate lock commitments Level 2 11,480 5,574 Forward contracts Level 2 (6,334 ) 338 Whole loan commitments Level 2 (303 ) 13 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ — $ 11,052 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 255,671 $ 775,435 Financial Services debt Level 2 189,557 267,877 Term loan Level 2 500,000 500,000 Senior notes Level 2 2,204,630 1,643,651 Fair values for agency residential mortgage loans available-for-sale are determined based on quoted market prices for comparable instruments. Fair values for non-agency residential mortgage loans available-for-sale are determined based on purchase commitments from whole loan investors and other relevant market information available to management. Fair values for interest rate lock commitments, including the value of servicing rights, are based on market prices for similar instruments. Forward contracts on mortgage-backed securities are valued based on market prices for similar instruments. Fair values for whole loan commitments are based on market prices for similar instruments from the specific whole loan investor. Certain assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value may not be recoverable. The non-recurring fair values included in the above table represent only those assets whose carrying values were adjusted to fair value as of the respective balance sheet dates. The carrying amounts of cash and equivalents, Financial Services debt, the Term Loan, and the Revolving Credit Facility approximate their fair values due to their short-term nature and floating interest rate terms. The fair values of senior notes are based on quoted market prices, when available. If quoted market prices are not available, fair values are based on quoted market prices of similar issues. The carrying value of senior notes was $2.1 billion and $1.6 billion at June 30, 2016 and December 31, 2015 , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Loan origination liabilities Our mortgage operations may be responsible for losses associated with mortgage loans originated and sold to investors in the event of errors or omissions relating to representations and warranties made by us that the loans met certain requirements, including representations as to underwriting standards, the existence of primary mortgage insurance, and the validity of certain borrower representations in connection with the loan. Determining the liabilities for anticipated losses requires a significant level of management judgment. Given the nature of these claims and the uncertainty regarding their ultimate resolution, actual costs could differ from our current estimates. Changes in these liabilities were as follows ($000's omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Liabilities, beginning of period $ 47,093 $ 58,226 $ 46,381 $ 58,222 Reserves provided (released), net (99 ) 81 767 139 Payments (11,049 ) (69 ) (11,203 ) (123 ) Liabilities, end of period $ 35,945 $ 58,238 $ 35,945 $ 58,238 Letters of credit and surety bonds In the normal course of business, we post letters of credit and surety bonds pursuant to certain performance-related obligations, as security for certain land option agreements, and under various insurance programs. The majority of these letters of credit and surety bonds are in support of our land development and construction obligations to various municipalities, other government agencies, and utility companies related to the construction of roads, sewers, and other infrastructure. We had outstanding letters of credit and surety bonds totaling $227.2 million and $1.1 billion , respectively, at June 30, 2016 and $191.3 million and $1.0 billion , respectively, at December 31, 2015 . In the event any such letter of credit or surety bond is drawn, we would be obligated to reimburse the issuer of the letter of credit or surety bond. We do not believe that a material amount, if any, of the letters of credit or surety bonds will be drawn. Our surety bonds generally do not have stated expiration dates; rather we are released from the surety bonds as the underlying contractual performance is completed. Because significant construction and development work has been performed related to projects that have not yet received final acceptance by the respective counterparties, the aggregate amount of surety bonds outstanding is in excess of the projected cost of the remaining work to be performed. Litigation and regulatory matters We are involved in various litigation and legal claims in the normal course of our business operations, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. In view of the inherent difficulty of predicting the outcome of these legal and regulatory matters, we generally cannot predict the ultimate resolution of the pending matters, the related timing, or the eventual loss. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. However, to the extent the liability arising from the ultimate resolution of any matter exceeds the estimates reflected in the recorded reserves relating to such matter, we could incur additional charges that could be significant. Allowance for warranties Home purchasers are provided with a limited warranty against certain building defects, including a one-year comprehensive limited warranty and coverage for certain other aspects of the home’s construction and operating systems for periods of up to and in limited instances exceeding 10 years. We estimate the costs to be incurred under these warranties and record liabilities in the amount of such costs at the time product revenue is recognized. Factors that affect our warranty liabilities include the number of homes sold, historical and anticipated rates of warranty claims, and the cost per claim. We periodically assess the adequacy of the warranty liabilities for each geographic market in which we operate and adjust the amounts as necessary. Actual warranty costs in the future could differ from the current estimates. Changes to warranty liabilities were as follows ($000’s omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Warranty liabilities, beginning of period $ 60,936 $ 57,401 $ 61,360 $ 65,389 Reserves provided 14,204 11,170 26,523 20,011 Payments (13,101 ) (14,648 ) (25,844 ) (31,477 ) Other adjustments (200 ) 579 (200 ) 579 Warranty liabilities, end of period $ 61,839 $ 54,502 $ 61,839 $ 54,502 Self-insured risks We maintain, and require our subcontractors to maintain, general liability insurance coverage. We also maintain builders' risk, property, errors and omissions, workers compensation, and other business insurance coverage. These insurance policies protect us against a portion of the risk of loss from claims. However, we retain a significant portion of the overall risk for such claims either through policies issued by our captive insurance subsidiaries or through our own self-insured per occurrence and aggregate retentions, deductibles, and claims in excess of available insurance policy limits. Our general liability insurance includes coverage for certain construction defects. While construction defect claims can relate to a variety of circumstances, the majority of our claims relate to alleged problems with siding, plumbing, foundations and other concrete work, windows, roofing, and heating, ventilation and air conditioning systems. The availability of general liability insurance for the homebuilding industry and its subcontractors has become increasingly limited, and the insurance policies available require companies to maintain significant per occurrence and aggregate retention levels. In certain instances, we may offer our subcontractors the opportunity to purchase insurance through one of our captive insurance subsidiaries or participate in a project-specific insurance program provided by us. Policies issued by the captive insurance subsidiaries represent self-insurance of these risks by us. This self-insured exposure is limited by reinsurance policies that we purchase. General liability coverage for the homebuilding industry is complex, and our coverage varies from policy year to policy year. Our insurance coverage generally requires a per occurrence deductible up to an overall aggregate retention level. Beginning with the first dollar, amounts paid to satisfy insured claims apply to our per occurrence and aggregate retention obligations. Any amounts incurred in excess of the occurrence or aggregate retention levels are covered by insurance up to our purchased coverage levels. Our insurance policies, including the captive insurance subsidiaries' reinsurance policies, are maintained with highly-rated underwriters for whom we believe counterparty default risk is not significant. At any point in time, we are managing over 1,000 individual claims related to general liability, property, errors and omissions, workers compensation, and other business insurance coverage. We reserve for costs associated with such claims (including expected claims management expenses) on an undiscounted basis at the time revenue is recognized for each home closing and evaluate the recorded liabilities based on actuarial analyses of our historical claims. The actuarial analyses calculate estimates of the ultimate net cost of all unpaid losses, including estimates for incurred but not reported losses ("IBNR"). IBNR represents losses related to claims incurred but not yet reported plus development on reported claims. Our recorded reserves for all such claims totaled $707.3 million and $692.1 million at June 30, 2016 and December 31, 2015 , respectively, the vast majority of which relates to general liability claims. The recorded reserves include loss estimates related to both (i) existing claims and related claim expenses and (ii) IBNR and related claim expenses. Liabilities related to IBNR and related claim expenses represented approximately 64% and 65% of the total general liability reserves at June 30, 2016 and December 31, 2015 , respectively. The actuarial analyses that determine the IBNR portion of reserves consider a variety of factors, including the frequency and severity of losses, which are based on our historical claims experience supplemented by industry data. The actuarial analyses of the reserves also consider historical third party recovery rates and claims management expenses. Housing market conditions have been volatile across most of our markets over the past ten years, and we believe such conditions can affect the frequency and cost of construction defect claims. Additionally, IBNR estimates comprise the majority of our liability and are subject to a high degree of uncertainty due to a variety of factors, including changes in claims reporting and resolution patterns, third party recoveries, insurance industry practices, the regulatory environment, and legal precedent. State regulations vary, but construction defect claims are reported and resolved over an extended period often exceeding ten years. Changes in the frequency and timing of reported claims and estimates of specific claim values can impact the underlying inputs and trends utilized in the actuarial analyses, which could have a material impact on the recorded reserves. Additionally, the amount of insurance coverage available for each policy period also impacts our recorded reserves. Because of the inherent uncertainty in estimating future losses and the timing of such losses related to these claims, actual costs could differ significantly from estimated costs. Adjustments to reserves are recorded in the period in which the change in estimate occurs. During the three months ended June 30, 2015 , we recorded a general liability reserve reversal of $26.9 million resulting from a legal settlement relating to plumbing claims initially reported to us in 2008 and for which our recorded liabilities were adjusted over time based on changes in facts and circumstances. These claims ultimately resulted in a class action lawsuit involving a national vendor and numerous other homebuilders, homebuyers, and insurance companies. In 2015 , a global settlement was reached, pursuant to which we funded our agreed upon share of settlement costs, which were significantly lower than our previously estimated exposure. Costs associated with our insurance programs are classified within selling, general, and administrative expenses. Changes in these liabilities were as follows ($000's omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Balance, beginning of period $ 692,980 $ 720,767 $ 692,053 $ 710,245 Reserves provided, net 25,317 (9,386 ) 45,068 6,446 Payments (10,991 ) (11,248 ) (29,815 ) (16,558 ) Balance, end of period $ 707,306 $ 700,133 $ 707,306 $ 700,133 In certain instances, we have the ability to recover a portion of our costs under various insurance policies or from subcontractors or other third parties. Estimates of such amounts are recorded when recovery is considered probable. Such receivables are recorded in other assets and totaled $136.7 million and $130.2 million at June 30, 2016 and December 31, 2015 , respectively. The insurance receivables relate to costs incurred to perform corrective repairs, settle claims with customers, and other costs related to the continued progression of construction defect claims that we believe are insured. Given the complexity inherent with resolving construction defect claims in the homebuilding industry as described above, there generally exists a significant lag between our payment of claims and our reimbursements from applicable insurance carriers. In addition, disputes between homebuilders and carriers over coverage positions relating to construction defect claims are common. Resolution of claims with carriers involves the exchange of significant amounts of information and frequently involves legal action. Currently, we are the plaintiff in litigation with certain of our insurance carriers in regard to $108.1 million of recorded insurance receivables relating to the applicability of coverage to such costs under their policies. We believe collection of these insurance receivables, including those in litigation, is probable based on the legal merits of our positions after review by legal counsel, favorable legal rulings received to date, the high credit ratings of our carriers, and our long history of collecting significant amounts of insurance reimbursements under similar insurance policies related to similar claims, including significant amounts funded by the above carriers under different policies. While the outcome of these matters cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows.

Supplemental Guarantor Informat

Supplemental Guarantor Information	6 Months Ended
	Jun. 30, 2016
Supplemental Guarantor Information [Abstract]
Supplemental Guarantor information	Supplemental Guarantor information All of our senior notes are guaranteed jointly and severally on a senior basis by certain of our wholly-owned Homebuilding subsidiaries and certain other wholly-owned subsidiaries (collectively, the “Guarantors”). Such guaranties are full and unconditional. Our subsidiaries comprising the Financial Services segment along with certain other subsidiaries (collectively, the "Non-Guarantor Subsidiaries") do not guarantee the senior notes. In accordance with Rule 3-10 of Regulation S-X, supplemental consolidating financial information of the Company, including such information for the Guarantors, is presented below. Investments in subsidiaries are presented using the equity method of accounting. CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2016 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 166,389 $ 62,798 $ — $ 229,187 Restricted cash — 25,001 1,483 — 26,484 House and land inventory — 6,583,222 46,242 — 6,629,464 Land held for sale — 85,271 510 — 85,781 Residential mortgage loans available- — — 364,004 — 364,004 Investments in unconsolidated entities 99 47,569 4,832 — 52,500 Other assets 22,145 533,458 125,565 — 681,168 Intangible assets — 161,372 — — 161,372 Deferred tax assets, net 1,274,468 — 2,628 — 1,277,096 Investments in subsidiaries and 6,237,109 (264,227 ) 6,614,233 (12,587,115 ) — $ 7,533,821 $ 7,338,055 $ 7,222,295 $ (12,587,115 ) $ 9,507,056 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 78,691 $ 1,609,312 $ 174,366 $ — $ 1,862,369 Income tax liabilities 33,980 — — — 33,980 Financial Services debt — — 189,557 — 189,557 Term loan 499,212 — — — 499,212 Senior notes 2,103,821 — — — 2,103,821 Total liabilities 2,715,704 1,609,312 363,923 — 4,688,939 Total shareholders’ equity 4,818,117 5,728,743 6,858,372 (12,587,115 ) 4,818,117 $ 7,533,821 $ 7,338,055 $ 7,222,295 $ (12,587,115 ) $ 9,507,056 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2015 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 638,602 $ 115,559 $ — $ 754,161 Restricted cash — 20,274 1,000 — 21,274 House and land inventory — 5,450,058 — — 5,450,058 Land held for sale — 80,458 1,034 — 81,492 Residential mortgage loans available- — — 442,715 — 442,715 Investments in unconsolidated entities 93 36,499 4,675 — 41,267 Other assets 38,991 531,120 90,724 — 660,835 Intangible assets — 110,215 — — 110,215 Deferred tax assets, net 1,392,251 11 2,617 — 1,394,879 Investments in subsidiaries and 5,529,606 465,644 6,293,018 (12,288,268 ) — $ 6,960,941 $ 7,332,881 $ 6,951,342 $ (12,288,268 ) $ 8,956,896 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 70,061 $ 1,558,885 $ 169,193 $ — $ 1,798,139 Income tax liabilities 57,050 — — — 57,050 Financial Services debt — — 267,877 — 267,877 Term loan 498,423 — — — 498,423 Senior notes 1,576,082 — — — 1,576,082 Total liabilities 2,201,616 1,558,885 437,070 — 4,197,571 Total shareholders’ equity 4,759,325 5,773,996 6,514,272 (12,288,268 ) 4,759,325 $ 6,960,941 $ 7,332,881 $ 6,951,342 $ (12,288,268 ) $ 8,956,896 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended June 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,746,484 $ 5,398 $ — $ 1,751,882 Land sale revenues — 3,893 1,057 — 4,950 — 1,750,377 6,455 — 1,756,832 Financial Services — — 43,082 — 43,082 — 1,750,377 49,537 — 1,799,914 Homebuilding Cost of Revenues: Home sale cost of revenues — 1,369,003 5,506 — 1,374,509 Land sale cost of revenues — 3,505 898 — 4,403 — 1,372,508 6,404 — 1,378,912 Financial Services expenses — 137 26,043 — 26,180 Selling, general, and administrative — 184,515 7,818 — 192,333 Other expense (income), net 170 20,759 (8,020 ) — 12,909 Intercompany interest 490 2,035 (2,525 ) — — Income (loss) before income taxes and (660 ) 170,423 19,817 — 189,580 Income tax expense (benefit) (246 ) 64,415 7,651 — 71,820 Income (loss) before equity in income (414 ) 106,008 12,166 — 117,760 Equity in income (loss) of subsidiaries 118,174 2,869 73,975 (195,018 ) — Net income (loss) 117,760 108,877 86,141 (195,018 ) 117,760 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 117,780 $ 108,877 $ 86,141 $ (195,018 ) $ 117,780 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended June 30, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,243,077 $ — $ — $ 1,243,077 Land sale revenues — 6,460 — — 6,460 — 1,249,537 — — 1,249,537 Financial Services — — 30,754 — 30,754 — 1,249,537 30,754 — 1,280,291 Homebuilding Cost of Revenues: Home sale cost of revenues — 953,280 — — 953,280 Land sale cost of revenues — 5,312 — — 5,312 — 958,592 — — 958,592 Financial Services expenses 101 (92 ) 20,758 — 20,767 Selling, general, and administrative — 129,457 662 — 130,119 Other expense (income), net 198 3,139 (151 ) — 3,186 Intercompany interest (6,781 ) 9,269 (2,488 ) — — Income (loss) before income taxes and 6,482 149,172 11,973 — 167,627 Income tax expense (benefit) 2,462 57,270 4,571 — 64,303 Income (loss) before equity in income 4,020 91,902 7,402 — 103,324 Equity in income (loss) of subsidiaries 99,304 7,332 92,596 (199,232 ) — Net income (loss) 103,324 99,234 99,998 (199,232 ) 103,324 Other comprehensive income 21 — — — 21 Comprehensive income (loss) $ 103,345 $ 99,234 $ 99,998 $ (199,232 ) $ 103,345 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the six months ended June 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 3,139,743 $ 6,382 $ — $ 3,146,125 Land sale revenues — 5,903 1,534 — 7,437 — 3,145,646 7,916 — 3,153,562 Financial Services — — 78,930 — 78,930 — 3,145,646 86,846 — 3,232,492 Homebuilding Cost of Revenues: Home sale cost of revenues — 2,456,168 7,670 — 2,463,838 Land sale cost of revenues — 5,148 1,282 — 6,430 — 2,461,316 8,952 — 2,470,268 Financial Services expenses — 260 52,038 — 52,298 Selling, general, and administrative — 372,097 11,251 — 383,348 Other expense (income), net 340 30,434 (11,989 ) — 18,785 Intercompany interest 1,000 4,219 (5,219 ) — — Income (loss) before income taxes and (1,340 ) 277,320 31,813 — 307,793 Income tax expense (benefit) (509 ) 94,983 12,259 — 106,733 Income (loss) before equity in income (831 ) 182,337 19,554 — 201,060 Equity in income (loss) of subsidiaries 201,891 9,879 185,893 (397,663 ) — Net income (loss) 201,060 192,216 205,447 (397,663 ) 201,060 Other comprehensive income 41 — — — 41 Comprehensive income (loss) $ 201,101 $ 192,216 $ 205,447 $ (397,663 ) $ 201,101 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the six months ended June 30, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,331,235 $ — $ — $ 2,331,235 Land sale revenues — 24,002 — — 24,002 — 2,355,237 — — 2,355,237 Financial Services — — 58,352 — 58,352 — 2,355,237 58,352 — 2,413,589 Homebuilding Cost of Revenues: Home sale cost of revenues — 1,794,425 — — 1,794,425 Land sale cost of revenues — 18,691 — — 18,691 — 1,813,116 — — 1,813,116 Financial Services expenses 288 (261 ) 43,281 — 43,308 Selling, general, and administrative — 290,285 1,146 — 291,431 Other expense (income), net 373 2,431 (501 ) — 2,303 Intercompany interest 943 3,847 (4,790 ) — — Income (loss) before income taxes and (1,604 ) 245,819 19,216 — 263,431 Income tax expense (benefit) (609 ) 98,365 7,380 — 105,136 Income (loss) before equity in income (995 ) 147,454 11,836 — 158,295 Equity in income (loss) of subsidiaries 159,290 11,669 144,659 (315,618 ) — Net income (loss) 158,295 159,123 156,495 (315,618 ) 158,295 Other comprehensive income 42 — — — 42 Comprehensive income (loss) $ 158,337 $ 159,123 $ 156,495 $ (315,618 ) $ 158,337 CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 143,228 $ (548,580 ) $ 80,036 $ — $ (325,316 ) Cash flows from investing activities: Capital expenditures — (19,736 ) (1,308 ) — (21,044 ) Cash used for business acquisitions — (430,025 ) — — (430,025 ) Other investing activities, net (6 ) (10,346 ) 2,056 — (8,296 ) Net cash provided by (used in) (6 ) (460,107 ) 748 — (459,365 ) Cash flows from financing activities: Proceeds from debt issuance 986,084 — — — 986,084 Repayments of debt (465,245 ) (19,729 ) — — (484,974 ) Borrowings under revolving credit facility 358,000 — — — 358,000 Repayments under revolving credit facility (358,000 ) — — — (358,000 ) Financial Services borrowings (repayments) — — (78,320 ) — (78,320 ) Stock option exercises 742 — — — 742 Share repurchases (100,806 ) — — — (100,806 ) Dividends paid (63,019 ) — — — (63,019 ) Intercompany activities, net (500,978 ) 556,203 (55,225 ) — — Net cash provided by (used in) (143,222 ) 536,474 (133,545 ) — 259,707 Net increase (decrease) in cash and — (472,213 ) (52,761 ) — (524,974 ) Cash and equivalents at beginning of — 638,602 115,559 — 754,161 Cash and equivalents at end of period $ — $ 166,389 $ 62,798 $ — $ 229,187 CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 65,947 $ (325,154 ) $ 68,104 $ — $ (191,103 ) Cash flows from investing activities: Capital expenditures — (20,871 ) (2,244 ) — (23,115 ) Other investing activities, net 3,710 1,031 9,909 — 14,650 Net cash provided by (used in) investing 3,710 (19,840 ) 7,665 — (8,465 ) Cash flows from financing activities: Repayments of debt (237,994 ) — — — (237,994 ) Financial Services borrowings (repayments) — — (20,970 ) — (20,970 ) Stock option exercises 7,222 — — — 7,222 Share repurchases (322,066 ) — — — (322,066 ) Dividends paid (59,125 ) — — — (59,125 ) Intercompany activities, net 534,852 (408,588 ) (126,264 ) — — Net cash provided by (used in) (77,111 ) (408,588 ) (147,234 ) — (632,933 ) Net increase (decrease) in cash and (7,454 ) (753,582 ) (71,465 ) — (832,501 ) Cash and equivalents at beginning of 7,454 1,157,307 128,101 — 1,292,862 Cash and equivalents at end of period $ — $ 403,725 $ 56,636 $ — $ 460,361

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Consolidation Policy	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015 .
Business acquisitions	We acquired substantially all of the assets of JW Homes ("Wieland") in January 2016, for $ 430.0 million in cash and the assumption of certain payables related to such assets. The acquired net assets were located in Atlanta, Charleston, Charlotte, Nashville, and Raleigh, and included approximately 7,000 lots, including 375 homes in inventory, and control of approximately 1,300 lots through land option contracts. We also assumed a sales order backlog of 317 homes. The acquired net assets were recorded at their estimated fair values and resulted in goodwill of $40.1 million and separately identifiable intangible assets of $18.0 million comprised of the John Wieland Homes and Neighborhoods tradename, which is being amortized over a 20 -year life. The acquisition of these assets was not material to our results of operations or financial condition.
Use of estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Reclassifications	Certain prior period amounts have been reclassified to conform to the current year presentation, including the adoption in January 2016 of Accounting Standards Update ("ASU") 2015-03, “Interest - Imputation of Interest,” which changes the presentation of debt issuance costs in the balance sheet from an asset to a direct reduction of the carrying amount of the related debt. The adoption of this guidance resulted in the reclassification of applicable unamortized debt issuance costs from other assets to senior notes and term loan. See Note 4 .
Subsequent events	We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission ("SEC").
Earnings per share	Basic earnings per share is computed by dividing income available to common shareholders (the “Numerator”) by the weighted-average number of common shares outstanding, adjusted for unvested shares (the “Denominator”) for the period. Computing diluted earnings per share is similar to computing basic earnings per share, except that the Denominator is increased to include the dilutive effects of stock options, unvested restricted shares, and unvested restricted share units, and other potentially dilutive instruments. Any stock options that have an exercise price greater than the average market price are considered to be anti-dilutive and are excluded from the diluted earnings per share calculation. Our diluted earnings per share calculation excluded 2.3 million potentially dilutive instruments, including stock options, unvested restricted shares, and unvested restricted share units, for both the three and six months ended June 30, 2016 , respectively, and 4.3 million and 4.5 million potentially dilutive instruments, including stock options, unvested restricted shares, and unvested restricted share units, for the three and six months ended June 30, 2015 , respectively. In accordance with ASC 260 "Earnings Per Share", the two-class method determines earnings per share for each class of common stock and participating securities according to an earnings allocation formula that adjusts the Numerator for dividends or dividend equivalents and participation rights in undistributed earnings. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and, therefore, are included in computing earnings per share pursuant to the two-class method. Our outstanding restricted share awards, restricted share units, and deferred shares are considered participating securities.
Residential mortgage loans available-for-sale	Substantially all of the loans originated by us are sold in the secondary mortgage market within a short period of time after origination, generally within 30 days . At June 30, 2016 and December 31, 2015 , residential mortgage loans available-for-sale had an aggregate fair value of $364.0 million and $442.7 million , respectively, and an aggregate outstanding principal balance of $348.7 million and $429.6 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $0.4 million and $(0.9) million for the three months ended June 30, 2016 and 2015 , respectively, and $1.3 million and $(0.8) million for the six months ended June 30, 2016 and 2015 . These changes in fair value were substantially offset by changes in fair value of the corresponding hedging instruments. Net gains from the sale of mortgages were $25.8 million and $17.6 million for the three months ended June 30, 2016 and 2015 , respectively, and $47.3 million and $33.8 million for the six months ended June 30, 2016 and 2015 , respectively, and have been included in Financial Services revenues.
Derivative instruments and hedging activities	We are party to interest rate lock commitments ("IRLCs") with customers resulting from our mortgage origination operations. At June 30, 2016 and December 31, 2015 , we had aggregate interest rate lock commitments of $320.8 million and $208.2 million , respectively, which were originated at interest rates prevailing at the date of commitment. We hedge our exposure to interest rate market risk relating to residential mortgage loans available-for-sale and IRLCs using forward contracts on mortgage-backed securities, which are commitments to either purchase or sell a specified financial instrument at a specified future date for a specified price, and whole loan commitments, which are obligations of the investor to buy loans at a specified price within a specified time period. Forward contracts on mortgage-backed securities are the predominant derivative financial instruments we use to minimize market risk during the period from the time we execute an interest rate lock until the time the loan is sold to an investor. At June 30, 2016 and December 31, 2015 , we had unexpired forward contracts of $574.0 million and $525.0 million , respectively, and whole loan investor commitments of $65.6 million and $77.6 million , respectively. Changes in the fair value of IRLCs and other derivative financial instruments are recognized in Financial Services revenues, and the fair values are reflected in other assets or other liabilities, as applicable. There are no credit-risk-related contingent features within our derivative agreements, and counterparty risk is considered minimal. Gains and losses on interest rate lock commitments and residential mortgage loans available-for-sale are substantially offset by corresponding gains or losses on forward contracts on mortgage-backed securities and whole loan commitments. We are generally not exposed to variability in cash flows of derivative instruments for more than approximately 60 days.
New accounting pronouncements	In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, "Revenue from Contracts with Customers". The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The FASB has also issued, or is preparing to issue, a number of updates to this standard. The standard is effective for us for annual and interim periods beginning January 1, 2018 and allows for full retrospective or modified retrospective methods of adoption. We are currently evaluating the impact that the standard will have on our financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern and provide related disclosures. ASU 2014-15 is effective for annual and interim reporting periods beginning January 1, 2017 and is not expected to have a material impact on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018, and early adoption is permitted. ASU 2016-02 requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. We are currently evaluating the impact that the standard will have on our financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"), which includes multiple amendments intended to simplify aspects of share-based payment accounting. ASU 2016-09 will be effective for annual reporting periods beginning after December 15, 2016, with early adoption permitted. Amendments to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, and forfeitures will be applied using a modified retrospective transition method through a cumulative-effect adjustment to equity as of the beginning of the period of adoption. Amendments to the presentation of employee taxes on the statement of cash flows will be applied retrospectively, and amendments requiring the recognition of excess tax benefits and tax deficiencies in the income statement are to be applied prospectively. We are currently evaluating the impact that the standard will have on our financial statements. 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"), which changes the impairment model for most financial assets and certain other instruments from an "incurred loss" approach to a new "expected credit loss" methodology and also requires that credit losses from available-for-sale debt securities be presented as an allowance instead of a write-down. ASU 2016-13 is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and requires full retrospective application on adoption. We are currently evaluating the impact the standard will have on our financial statements.
Inventory Interest Capitalization Policy	We capitalize interest cost into inventory during the active development and construction of our communities. In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels
Fair Value of Financial Instruments Policy	Fair values for agency residential mortgage loans available-for-sale are determined based on quoted market prices for comparable instruments. Fair values for non-agency residential mortgage loans available-for-sale are determined based on purchase commitments from whole loan investors and other relevant market information available to management. Fair values for interest rate lock commitments, including the value of servicing rights, are based on market prices for similar instruments. Forward contracts on mortgage-backed securities are valued based on market prices for similar instruments. Fair values for whole loan commitments are based on market prices for similar instruments from the specific whole loan investor. Certain assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value may not be recoverable. The non-recurring fair values included in the above table represent only those assets whose carrying values were adjusted to fair value as of the respective balance sheet dates. The carrying amounts of cash and equivalents, Financial Services debt, the Term Loan, and the Revolving Credit Facility approximate their fair values due to their short-term nature and floating interest rate terms. The fair values of senior notes are based on quoted market prices, when available. If quoted market prices are not available, fair values are based on quoted market prices of similar issues.
Legal Reserves Policy	We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. In view of the inherent difficulty of predicting the outcome of these legal and regulatory matters, we generally cannot predict the ultimate resolution of the pending matters, the related timing, or the eventual loss. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. However, to the extent the liability arising from the ultimate resolution of any matter exceeds the estimates reflected in the recorded reserves relating to such matter, we could incur additional charges that could be significant.
Standard Product Warranty, Policy	Allowance for warranties Home purchasers are provided with a limited warranty against certain building defects, including a one-year comprehensive limited warranty and coverage for certain other aspects of the home’s construction and operating systems for periods of up to and in limited instances exceeding 10 years. We estimate the costs to be incurred under these warranties and record liabilities in the amount of such costs at the time product revenue is recognized. Factors that affect our warranty liabilities include the number of homes sold, historical and anticipated rates of warranty claims, and the cost per claim. We periodically assess the adequacy of the warranty liabilities for each geographic market in which we operate and adjust the amounts as necessary. Actual warranty costs in the future could differ from the current estimates.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Schedule of Other Expense (Income), Net	Other expense (income), net Other expense (income), net consists of the following ($000’s omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Write-off of deposits and pre-acquisition costs $ 7,414 $ 1,241 $ 10,454 $ 3,110 Lease exit and related costs 7,311 336 5,946 222 Amortization of intangible assets 3,450 3,225 6,900 6,450 Interest income (849 ) (856 ) (1,772 ) (1,955 ) Interest expense 186 208 360 395 Equity in earnings of unconsolidated entities (3,829 ) (1,164 ) (4,004 ) (2,271 ) Miscellaneous, net (774 ) 196 901 (3,648 ) $ 12,909 $ 3,186 $ 18,785 $ 2,303
Schedule of Earnings Per Share	The following table presents the earnings per common share (000's omitted, except per share data): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Numerator: Net income $ 117,760 $ 103,324 $ 201,060 $ 158,295 Less: earnings distributed to participating securities (283 ) (185 ) (568 ) (373 ) Less: undistributed earnings allocated to participating securities (791 ) (475 ) (1,064 ) (647 ) Numerator for basic earnings per share $ 116,686 $ 102,664 $ 199,428 $ 157,275 Add back: undistributed earnings allocated to participating securities 791 475 1,064 647 Less: undistributed earnings reallocated to participating securities (785 ) (471 ) (1,055 ) (641 ) Numerator for diluted earnings per share $ 116,692 $ 102,668 $ 199,437 $ 157,281 Denominator: Basic shares outstanding 345,240 361,009 346,528 363,863 Effect of dilutive securities 2,759 3,232 2,710 3,297 Diluted shares outstanding 347,999 364,241 349,238 367,160 Earnings per share: Basic $ 0.34 $ 0.28 $ 0.58 $ 0.43 Diluted $ 0.34 $ 0.28 $ 0.57 $ 0.43
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivative instruments and their locations in the Condensed Consolidated Balance Sheets are summarized below ($000’s omitted): June 30, 2016 December 31, 2015 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 11,591 $ 111 $ 5,854 $ 280 Forward contracts 401 6,735 1,178 840 Whole loan commitments 111 414 358 345 $ 12,103 $ 7,260 $ 7,390 $ 1,465

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Components of Inventory	Major components of inventory were as follows ($000’s omitted): June 30, December 31, Homes under construction $ 2,058,479 $ 1,408,260 Land under development 3,704,857 3,259,066 Raw land 866,128 782,732 $ 6,629,464 $ 5,450,058
Capitalized Interest Rollforward	Information related to interest capitalized into inventory is as follows ($000’s omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Interest in inventory, beginning of period $ 158,653 $ 166,887 $ 149,498 $ 167,638 Interest capitalized 38,231 31,296 73,515 62,099 Interest expensed (29,396 ) (33,799 ) (55,525 ) (65,353 ) Interest in inventory, end of period $ 167,488 $ 164,384 $ 167,488 $ 164,384
Schedule Of Company Interests In Land Option Agreements	The following provides a summary of our interests in land option agreements as of June 30, 2016 and December 31, 2015 ($000’s omitted): June 30, 2016 December 31, 2015 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 80,063 $ 928,327 $ 77,641 $ 1,064,506 Other land options 98,744 1,165,813 84,478 981,687 $ 178,807 $ 2,094,140 $ 162,119 $ 2,046,193

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Components of Reportable Segments	For reporting purposes, our Homebuilding operations are aggregated into six reportable segments: Northeast: Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia Southeast: Georgia, North Carolina, South Carolina, Tennessee Florida: Florida Midwest: Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio Texas: Texas West: Arizona, California, Nevada, New Mexico, Washington
Operating Data By Reporting Segment	Operating Data by Segment ($000’s omitted) Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Revenues: Northeast $ 152,517 $ 137,181 $ 271,171 $ 248,334 Southeast (a) 387,675 245,250 682,101 431,038 Florida 283,440 208,740 553,281 411,802 Midwest 286,649 227,489 476,541 406,141 Texas 255,471 185,489 468,763 362,988 West 391,080 245,388 701,705 494,934 1,756,832 1,249,537 3,153,562 2,355,237 Financial Services 43,082 30,754 78,930 58,352 Consolidated revenues $ 1,799,914 $ 1,280,291 $ 3,232,492 $ 2,413,589 Income before income taxes: Northeast $ 19,238 $ 15,330 $ 28,828 $ 24,857 Southeast (a) 40,758 39,871 60,528 64,495 Florida 44,353 39,315 84,655 72,539 Midwest 26,253 14,630 31,873 15,810 Texas 36,223 24,488 64,740 47,278 West 41,829 32,441 75,336 63,521 Other homebuilding (b) (36,108 ) (8,435 ) (64,981 ) (40,113 ) 172,546 157,640 280,979 248,387 Financial Services 17,034 9,987 26,814 15,044 Consolidated income before income taxes $ 189,580 $ 167,627 $ 307,793 $ 263,431 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. For the three and six months ended June 30, 2015 , Other homebuilding also includes a reserve reversal of $26.9 million resulting from a favorable legal settlement.
Total Assets And Inventory By Reporting Segment	Operating Data by Segment ($000's omitted) June 30, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 215,519 $ 307,440 $ 122,107 $ 645,066 $ 783,163 Southeast (a) 376,012 554,662 230,502 1,161,176 1,263,995 Florida 288,038 641,869 164,140 1,094,047 1,238,973 Midwest 303,569 435,719 62,252 801,540 859,922 Texas 234,589 367,399 85,593 687,581 782,448 West 614,600 1,186,901 175,141 1,976,642 2,185,570 Other homebuilding (b) 26,152 210,867 26,393 263,412 1,957,860 2,058,479 3,704,857 866,128 6,629,464 9,071,931 Financial Services — — — — 435,125 $ 2,058,479 $ 3,704,857 $ 866,128 $ 6,629,464 $ 9,507,056 December 31, 2015 Homes Under Land Under Raw Land Total Total Northeast $ 163,173 $ 292,631 $ 121,522 $ 577,326 $ 688,610 Southeast 196,456 367,577 139,246 703,279 765,933 Florida 227,910 574,092 97,185 899,187 1,013,543 Midwest 197,738 414,386 68,918 681,042 734,834 Texas 191,424 317,702 107,737 616,863 691,342 West 413,208 1,094,112 222,920 1,730,240 1,924,958 Other homebuilding (b) 18,351 198,566 25,204 242,121 2,628,687 1,408,260 3,259,066 782,732 5,450,058 8,447,907 Financial Services — — — — 508,989 $ 1,408,260 $ 3,259,066 $ 782,732 $ 5,450,058 $ 8,956,896 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Senior Notes	Our senior notes are summarized as follows ($000’s omitted): June 30, December 31, 6.500% unsecured senior notes due May 2016 (a) — 465,245 7.625% unsecured senior notes due October 2017 (b) 123,000 123,000 4.250% unsecured senior notes due March 2021 (a) 300,000 — 5.500% unsecured senior notes due March 2026 (a) 700,000 — 7.875% unsecured senior notes due June 2032 (a) 300,000 300,000 6.375% unsecured senior notes due May 2033 (a) 400,000 400,000 6.000% unsecured senior notes due February 2035 (a) 300,000 300,000 Net premiums, discounts, and issuance costs (c) (19,179 ) (12,163 ) Total senior notes $ 2,103,821 $ 1,576,082 Estimated fair value $ 2,204,630 $ 1,643,651 (a) Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (b) Not redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (c) The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest cost over the respective terms of the senior notes. As discussed in Note 1 , we adopted ASU 2015-03 in January 2016. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the 2016 presentation. As a result, $10.3 million of debt issuance costs at December 31, 2015 , were reclassified from other assets to a reduction in senior notes.

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): Financial Instrument Fair Value Fair Value June 30, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 364,004 $ 442,715 Interest rate lock commitments Level 2 11,480 5,574 Forward contracts Level 2 (6,334 ) 338 Whole loan commitments Level 2 (303 ) 13 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ — $ 11,052 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 255,671 $ 775,435 Financial Services debt Level 2 189,557 267,877 Term loan Level 2 500,000 500,000 Senior notes Level 2 2,204,630 1,643,651

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Summary of Changes in Loan Origination Liability	Changes in these liabilities were as follows ($000's omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Liabilities, beginning of period $ 47,093 $ 58,226 $ 46,381 $ 58,222 Reserves provided (released), net (99 ) 81 767 139 Payments (11,049 ) (69 ) (11,203 ) (123 ) Liabilities, end of period $ 35,945 $ 58,238 $ 35,945 $ 58,238
Summary of Changes in Warranty Liability	Changes to warranty liabilities were as follows ($000’s omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Warranty liabilities, beginning of period $ 60,936 $ 57,401 $ 61,360 $ 65,389 Reserves provided 14,204 11,170 26,523 20,011 Payments (13,101 ) (14,648 ) (25,844 ) (31,477 ) Other adjustments (200 ) 579 (200 ) 579 Warranty liabilities, end of period $ 61,839 $ 54,502 $ 61,839 $ 54,502
Summary of Changes in Self-Insurance Liability	Changes in these liabilities were as follows ($000's omitted): Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Balance, beginning of period $ 692,980 $ 720,767 $ 692,053 $ 710,245 Reserves provided, net 25,317 (9,386 ) 45,068 6,446 Payments (10,991 ) (11,248 ) (29,815 ) (16,558 ) Balance, end of period $ 707,306 $ 700,133 $ 707,306 $ 700,133

Supplemental Guarantor Inform23

Supplemental Guarantor Information (Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Guarantor Information [Abstract]
Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2016 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 166,389 $ 62,798 $ — $ 229,187 Restricted cash — 25,001 1,483 — 26,484 House and land inventory — 6,583,222 46,242 — 6,629,464 Land held for sale — 85,271 510 — 85,781 Residential mortgage loans available- — — 364,004 — 364,004 Investments in unconsolidated entities 99 47,569 4,832 — 52,500 Other assets 22,145 533,458 125,565 — 681,168 Intangible assets — 161,372 — — 161,372 Deferred tax assets, net 1,274,468 — 2,628 — 1,277,096 Investments in subsidiaries and 6,237,109 (264,227 ) 6,614,233 (12,587,115 ) — $ 7,533,821 $ 7,338,055 $ 7,222,295 $ (12,587,115 ) $ 9,507,056 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 78,691 $ 1,609,312 $ 174,366 $ — $ 1,862,369 Income tax liabilities 33,980 — — — 33,980 Financial Services debt — — 189,557 — 189,557 Term loan 499,212 — — — 499,212 Senior notes 2,103,821 — — — 2,103,821 Total liabilities 2,715,704 1,609,312 363,923 — 4,688,939 Total shareholders’ equity 4,818,117 5,728,743 6,858,372 (12,587,115 ) 4,818,117 $ 7,533,821 $ 7,338,055 $ 7,222,295 $ (12,587,115 ) $ 9,507,056 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2015 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 638,602 $ 115,559 $ — $ 754,161 Restricted cash — 20,274 1,000 — 21,274 House and land inventory — 5,450,058 — — 5,450,058 Land held for sale — 80,458 1,034 — 81,492 Residential mortgage loans available- — — 442,715 — 442,715 Investments in unconsolidated entities 93 36,499 4,675 — 41,267 Other assets 38,991 531,120 90,724 — 660,835 Intangible assets — 110,215 — — 110,215 Deferred tax assets, net 1,392,251 11 2,617 — 1,394,879 Investments in subsidiaries and 5,529,606 465,644 6,293,018 (12,288,268 ) — $ 6,960,941 $ 7,332,881 $ 6,951,342 $ (12,288,268 ) $ 8,956,896 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 70,061 $ 1,558,885 $ 169,193 $ — $ 1,798,139 Income tax liabilities 57,050 — — — 57,050 Financial Services debt — — 267,877 — 267,877 Term loan 498,423 — — — 498,423 Senior notes 1,576,082 — — — 1,576,082 Total liabilities 2,201,616 1,558,885 437,070 — 4,197,571 Total shareholders’ equity 4,759,325 5,773,996 6,514,272 (12,288,268 ) 4,759,325 $ 6,960,941 $ 7,332,881 $ 6,951,342 $ (12,288,268 ) $ 8,956,896
Consolidating Statement of Operations and Comprehensive Income (Loss)	CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended June 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,746,484 $ 5,398 $ — $ 1,751,882 Land sale revenues — 3,893 1,057 — 4,950 — 1,750,377 6,455 — 1,756,832 Financial Services — — 43,082 — 43,082 — 1,750,377 49,537 — 1,799,914 Homebuilding Cost of Revenues: Home sale cost of revenues — 1,369,003 5,506 — 1,374,509 Land sale cost of revenues — 3,505 898 — 4,403 — 1,372,508 6,404 — 1,378,912 Financial Services expenses — 137 26,043 — 26,180 Selling, general, and administrative — 184,515 7,818 — 192,333 Other expense (income), net 170 20,759 (8,020 ) — 12,909 Intercompany interest 490 2,035 (2,525 ) — — Income (loss) before income taxes and (660 ) 170,423 19,817 — 189,580 Income tax expense (benefit) (246 ) 64,415 7,651 — 71,820 Income (loss) before equity in income (414 ) 106,008 12,166 — 117,760 Equity in income (loss) of subsidiaries 118,174 2,869 73,975 (195,018 ) — Net income (loss) 117,760 108,877 86,141 (195,018 ) 117,760 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 117,780 $ 108,877 $ 86,141 $ (195,018 ) $ 117,780 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended June 30, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,243,077 $ — $ — $ 1,243,077 Land sale revenues — 6,460 — — 6,460 — 1,249,537 — — 1,249,537 Financial Services — — 30,754 — 30,754 — 1,249,537 30,754 — 1,280,291 Homebuilding Cost of Revenues: Home sale cost of revenues — 953,280 — — 953,280 Land sale cost of revenues — 5,312 — — 5,312 — 958,592 — — 958,592 Financial Services expenses 101 (92 ) 20,758 — 20,767 Selling, general, and administrative — 129,457 662 — 130,119 Other expense (income), net 198 3,139 (151 ) — 3,186 Intercompany interest (6,781 ) 9,269 (2,488 ) — — Income (loss) before income taxes and 6,482 149,172 11,973 — 167,627 Income tax expense (benefit) 2,462 57,270 4,571 — 64,303 Income (loss) before equity in income 4,020 91,902 7,402 — 103,324 Equity in income (loss) of subsidiaries 99,304 7,332 92,596 (199,232 ) — Net income (loss) 103,324 99,234 99,998 (199,232 ) 103,324 Other comprehensive income 21 — — — 21 Comprehensive income (loss) $ 103,345 $ 99,234 $ 99,998 $ (199,232 ) $ 103,345
Consolidating Statement Of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 143,228 $ (548,580 ) $ 80,036 $ — $ (325,316 ) Cash flows from investing activities: Capital expenditures — (19,736 ) (1,308 ) — (21,044 ) Cash used for business acquisitions — (430,025 ) — — (430,025 ) Other investing activities, net (6 ) (10,346 ) 2,056 — (8,296 ) Net cash provided by (used in) (6 ) (460,107 ) 748 — (459,365 ) Cash flows from financing activities: Proceeds from debt issuance 986,084 — — — 986,084 Repayments of debt (465,245 ) (19,729 ) — — (484,974 ) Borrowings under revolving credit facility 358,000 — — — 358,000 Repayments under revolving credit facility (358,000 ) — — — (358,000 ) Financial Services borrowings (repayments) — — (78,320 ) — (78,320 ) Stock option exercises 742 — — — 742 Share repurchases (100,806 ) — — — (100,806 ) Dividends paid (63,019 ) — — — (63,019 ) Intercompany activities, net (500,978 ) 556,203 (55,225 ) — — Net cash provided by (used in) (143,222 ) 536,474 (133,545 ) — 259,707 Net increase (decrease) in cash and — (472,213 ) (52,761 ) — (524,974 ) Cash and equivalents at beginning of — 638,602 115,559 — 754,161 Cash and equivalents at end of period $ — $ 166,389 $ 62,798 $ — $ 229,187 CONSOLIDATING STATEMENT OF CASH FLOWS For the six months ended June 30, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 65,947 $ (325,154 ) $ 68,104 $ — $ (191,103 ) Cash flows from investing activities: Capital expenditures — (20,871 ) (2,244 ) — (23,115 ) Other investing activities, net 3,710 1,031 9,909 — 14,650 Net cash provided by (used in) investing 3,710 (19,840 ) 7,665 — (8,465 ) Cash flows from financing activities: Repayments of debt (237,994 ) — — — (237,994 ) Financial Services borrowings (repayments) — — (20,970 ) — (20,970 ) Stock option exercises 7,222 — — — 7,222 Share repurchases (322,066 ) — — — (322,066 ) Dividends paid (59,125 ) — — — (59,125 ) Intercompany activities, net 534,852 (408,588 ) (126,264 ) — — Net cash provided by (used in) (77,111 ) (408,588 ) (147,234 ) — (632,933 ) Net increase (decrease) in cash and (7,454 ) (753,582 ) (71,465 ) — (832,501 ) Cash and equivalents at beginning of 7,454 1,157,307 128,101 — 1,292,862 Cash and equivalents at end of period $ — $ 403,725 $ 56,636 $ — $ 460,361

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2016USD ($)homelot	Jun. 30, 2016USD ($)shares	Jun. 30, 2015USD ($)shares	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)shares	Dec. 31, 2015USD ($)
Cash paid to acquire business				$ 430,025	$ 0
Antidilutive securities excluded from computation of earnings per share (shares) | shares		2.3	4.3		4.5
Residential mortgage loans available-for-sale fair value		$ 364,004		364,004		$ 442,715
Residential mortgage loans available-for-sale aggregate outstanding principal balance		348,700		348,700		429,600
Net gain (loss) from change in fair value		400	$ (900)	1,300	$ (800)
Net gains from the sale of mortgages		25,800	$ 17,600	$ 47,300	$ 33,800
Variability in future cash flows of derivative instruments in days				60 days
Interest rate lock commitments
Derivative, notional amount		320,800		$ 320,800		208,200
Forward contracts
Derivative, notional amount		574,000		574,000		525,000
Whole loan commitments
Derivative, notional amount		$ 65,600		$ 65,600		$ 77,600
JW Homes (Wieland)
Cash paid to acquire business	$ 430,000
Number of units in real estate property | lot	7,000
Goodwill	$ 40,100
In Inventory | JW Homes (Wieland)
Number of units in real estate property | home	375
Land Option Contracts | JW Homes (Wieland)
Number of units in real estate property | lot	1,300
Sales Order Backlog | JW Homes (Wieland)
Number of units in real estate property | home	317
Trade Names | JW Homes (Wieland)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 18,000
Finite-Lived Intangible Assets, Remaining Amortization Period	20 years

Basis of Presentation (Other Ex

Basis of Presentation (Other Expense (Income), Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Write-off of deposits and pre-acquisition costs	$ 7,414	$ 1,241	$ 10,454	$ 3,110
Lease exit and related costs	7,311	336	5,946	222
Amortization of intangible assets	3,450	3,225	6,900	6,450
Interest income	(849)	(856)	(1,772)	(1,955)
Interest expense	186	208	360	395
Equity in earnings of unconsolidated entities	(3,829)	(1,164)	(4,004)	(2,271)
Miscellaneous, net	774	(196)	901	(3,648)
Other expense (income), net	$ (12,909)	$ (3,186)	$ (18,785)	$ (2,303)

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Earnings per share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income	$ 117,760	$ 103,324	$ 201,060	$ 158,295
Less: earnings distributed to participating securities	(283)	(185)	(568)	(373)
Less: undistributed earnings allocated to participating securities	(791)	(475)	(1,064)	(647)
Numerator for basic earnings per share	116,686	102,664	199,428	157,275
Add back: undistributed earnings allocated to participating securities	791	475	1,064	647
Less: undistributed earnings reallocated to participating securities	(785)	(471)	(1,055)	(641)
Numerator for diluted earnings per share	$ 116,692	$ 102,668	$ 199,437	$ 157,281
Denominator:
Basic shares outstanding (shares)	345,240	361,009	346,528	363,863
Effect of dilutive securities (shares)	2,759	3,232	2,710	3,297
Diluted shares outstanding (shares)	347,999	364,241	349,238	367,160
Earnings Per Share [Abstract]
Earnings Per Share, Basic (usd per share)	$ 0.34	$ 0.28	$ 0.58	$ 0.43
Earnings Per Share, Diluted (usd per share)	$ 0.34	$ 0.28	$ 0.57	$ 0.43

Basis of Presentation (Fair Val

Basis of Presentation (Fair Value Of the Company's Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Accounting Policies [Abstract]
Gain (Loss) on Sale of Mortgage Loans	$ 25,800	$ 17,600	$ 47,300	$ 33,800
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	12,103		12,103		$ 7,390
Accrued and Other Liabilities	7,260		7,260		1,465
Interest rate lock commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	11,591		11,591		5,854
Accrued and Other Liabilities	111		111		280
Forward contracts
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	401		401		1,178
Accrued and Other Liabilities	6,735		6,735		840
Whole loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	111		111		358
Accrued and Other Liabilities	$ 414		$ 414		$ 345

Inventory (Major Components Of

Inventory (Major Components Of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Homes under construction	$ 2,058,479	$ 1,408,260
Land under development	3,704,857	3,259,066
Raw land	866,128	782,732
House and land inventory	$ 6,629,464	$ 5,450,058

Inventory (Information Related

Inventory (Information Related To Interest Capitalized Into Homebuilding Inventory) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest in inventory, beginning of period	$ 158,653	$ 166,887	$ 149,498	$ 167,638
Interest capitalized	38,231	31,296	73,515	62,099
Interest expensed	(29,396)	(33,799)	(55,525)	(65,353)
Interest in inventory, end of period	$ 167,488	$ 164,384	$ 167,488	$ 164,384

Inventory (Summary of Interests

Inventory (Summary of Interests in Land Option Agreements) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	$ 178,807	$ 162,119
Remaining Purchase Price	2,094,140	2,046,193
Land options with VIEs
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	80,063	77,641
Remaining Purchase Price	928,327	1,064,506
Other Land Option Agreements Member
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	98,744	84,478
Remaining Purchase Price	$ 1,165,813	$ 981,687

Segment Information Narrative (

Segment Information Narrative (Details)	6 Months Ended
	Jun. 30, 2016segment
Segment Reporting [Abstract]
Number of reportable segments	6

Segment Information (Operating

Segment Information (Operating Data By Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information
Gain (loss) related to litigation settlement					$ 26,900
Revenues:
Homebuilding		$ 1,756,832	$ 1,249,537	$ 3,153,562	2,355,237
Financial Services		43,082	30,754	78,930	58,352
Consolidated revenues		1,799,914	1,280,291	3,232,492	2,413,589
Income before Income Taxes:
Income before income taxes		189,580	167,627	307,793	263,431
Northeast
Revenues:
Homebuilding		152,517	137,181	271,171	248,334
Income before Income Taxes:
Income before income taxes		19,238	15,330	28,828	24,857
Southeast
Revenues:
Homebuilding		387,675	245,250	682,101	431,038
Income before Income Taxes:
Income before income taxes	[1]	40,758	39,871	60,528	64,495
Florida
Revenues:
Homebuilding		283,440	208,740	553,281	411,802
Income before Income Taxes:
Income before income taxes		44,353	39,315	84,655	72,539
Texas
Revenues:
Homebuilding		255,471	185,489	468,763	362,988
Income before Income Taxes:
Income before income taxes		36,223	24,488	64,740	47,278
Midwest
Revenues:
Homebuilding		286,649	227,489	476,541	406,141
Income before Income Taxes:
Income before income taxes		26,253	14,630	31,873	15,810
West
Revenues:
Homebuilding		391,080	245,388	701,705	494,934
Income before Income Taxes:
Income before income taxes		41,829	32,441	75,336	63,521
Other homebuilding
Income before Income Taxes:
Income before income taxes	[2]	(36,108)	(8,435)	(64,981)	(40,113)
Homebuilding
Income before Income Taxes:
Income before income taxes		172,546	157,640	280,979	248,387
Financial Services
Income before Income Taxes:
Income before income taxes		$ 17,034	$ 9,987	$ 26,814	$ 15,044
[1]	Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1).
[2]	Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. For the three and six months ended June 30, 2015, Other homebuilding also includes a reserve reversal of $26.9 million resulting from a favorable legal settlement.

Segment Information (Total Asse

Segment Information (Total Assets And Inventory By Reportable Segment) (Details) - USD ($) $ in Thousands		Jun. 30, 2016		Dec. 31, 2015
Segment Reporting Information
Homes under construction		$ 2,058,479		$ 1,408,260
Land under development		3,704,857		3,259,066
Raw land		866,128		782,732
House and land inventory		6,629,464		5,450,058
Total Assets		9,507,056		8,956,896
Northeast
Segment Reporting Information
Homes under construction		215,519		163,173
Land under development		307,440		292,631
Raw land		122,107		121,522
House and land inventory		645,066		577,326
Total Assets		783,163		688,610
Southeast
Segment Reporting Information
Homes under construction		376,012	[1]	196,456
Land under development		554,662	[1]	367,577
Raw land		230,502	[1]	139,246
House and land inventory		1,161,176	[1]	703,279
Total Assets		1,263,995	[1]	765,933
Florida
Segment Reporting Information
Homes under construction		288,038		227,910
Land under development		641,869		574,092
Raw land		164,140		97,185
House and land inventory		1,094,047		899,187
Total Assets		1,238,973		1,013,543
Texas
Segment Reporting Information
Homes under construction		234,589		197,738
Land under development		367,399		414,386
Raw land		85,593		68,918
House and land inventory		687,581		681,042
Total Assets		782,448		734,834
Midwest
Segment Reporting Information
Homes under construction		303,569		191,424
Land under development		435,719		317,702
Raw land		62,252		107,737
House and land inventory		801,540		616,863
Total Assets		859,922		691,342
West
Segment Reporting Information
Homes under construction		614,600		413,208
Land under development		1,186,901		1,094,112
Raw land		175,141		222,920
House and land inventory		1,976,642		1,730,240
Total Assets		2,185,570		1,924,958
Other homebuilding
Segment Reporting Information
Homes under construction	[2]	26,152		18,351
Land under development	[2]	210,867		198,566
Raw land	[2]	26,393		25,204
House and land inventory	[2]	263,412		242,121
Total Assets	[2]	1,957,860		2,628,687
Homebuilding
Segment Reporting Information
Homes under construction		2,058,479		1,408,260
Land under development		3,704,857		3,259,066
Raw land		866,128		782,732
House and land inventory		6,629,464		5,450,058
Total Assets		9,071,931		8,447,907
Financial Services
Segment Reporting Information
Total Assets		$ 435,125		$ 508,989
[1]	Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland
[2]	Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.

Debt (Summary of Senior Notes)

Debt (Summary of Senior Notes) (Details) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Senior note carrying value		$ 2,103,821	$ 1,576,082
Net premiums, discounts, and issuance costs	[1]	(19,179)	(12,163)
Estimated fair value		$ 2,204,630	$ 1,643,651
Unsecured Senior Notes 6.50% due May 2016
Debt Instrument [Line Items]
Stated interest rate		6.50%	6.50%
Senior note carrying value	[2]	$ 0	$ 465,245
Unsecured Senior Notes 7.625% due October 2017
Debt Instrument [Line Items]
Stated interest rate		7.625%	7.625%
Senior note carrying value	[3]	$ 123,000	$ 123,000
4.250% unsecured senior notes due March 2021
Debt Instrument [Line Items]
Stated interest rate		4.25%
Senior note carrying value	[2]	$ 300,000	0
5.500% unsecured senior notes due March 2026
Debt Instrument [Line Items]
Stated interest rate		5.50%
Senior note carrying value	[2]	$ 700,000	$ 0
Unsecured Senior Notes 7.875% due June 2032
Debt Instrument [Line Items]
Stated interest rate		7.875%	7.875%
Senior note carrying value	[2]	$ 300,000	$ 300,000
Unsecured Senior Notes 6.375% due May 2033
Debt Instrument [Line Items]
Stated interest rate		6.375%	6.375%
Senior note carrying value	[2]	$ 400,000	$ 400,000
Unsecured Senior Notes 6.00% due February 2035
Debt Instrument [Line Items]
Stated interest rate		6.00%	6.00%
Senior note carrying value	[2]	$ 300,000	$ 300,000
Senior Notes | Accounting Standards Update 2015-03
Debt Instrument [Line Items]
Net premiums, discounts, and issuance costs			10,300
Other Assets | Accounting Standards Update 2015-03
Debt Instrument [Line Items]
Net premiums, discounts, and issuance costs			$ (10,300)
[1]	The carrying value of senior notes reflects the impact of premiums, discounts, and issuance costs that are amortized to interest cost over the respective terms of the senior notes. As discussed in Note 1, we adopted ASU 2015-03 in January 2016. We applied the new guidance retrospectively to all prior periods presented in the financial statements to conform to the 2016 presentation. As a result, $10.3 million of debt issuance costs at December 31, 2015, were reclassified from other assets to a reduction in senior notes.
[2]	Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries.
[3]	Not redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries.

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)		6 Months Ended
		Jun. 30, 2016	Jul. 29, 2016	Feb. 29, 2016	Jan. 19, 2016	Dec. 31, 2015	Dec. 01, 2015
Debt Instrument [Line Items]
Senior notes		$ 2,103,821,000				$ 1,576,082,000
Letters of credit outstanding		227,200,000				191,300,000
Notes payable		$ 17,200,000				35,300,000
Debt instrument term		4 years
Amount outstanding		$ 189,557,000				267,877,000
Unsecured Senior Notes 6.50% due May 2016
Debt Instrument [Line Items]
Senior notes	[1]	$ 0				$ 465,245,000
Stated interest rate		6.50%				6.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		$ 500,000,000
Maximum borrowing capacity		750,000,000
Maximum additional issuance		375,000,000
Fair value of amount outstanding		0
Revolving Credit Facility Accordion Feature
Debt Instrument [Line Items]
Maximum borrowing capacity		1,250,000,000
Repurchase Agreement | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 175,000,000		$ 310,000,000
Amount outstanding		$ 189,600,000				$ 267,900,000
Maximum
Debt Instrument [Line Items]
Stated interest rate		5.00%
Senior Unsecured Notes February 2016 | Senior Notes
Debt Instrument [Line Items]
Debt issuance amount				$ 1,000,000,000
Senior Unsecured Term Loan Maturing January 3, 2017 | Senior Loans
Debt Instrument [Line Items]
Debt issuance amount		$ 500,000,000
Scenario, Forecast | Repurchase Agreement | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 200,000,000
[1]	Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries.

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Class of Stock [Line Items]
Dividends	$ 62,747	$ 58,227
Payments for repurchase of common stock	$ 100,806	$ 322,066
Share repurchase plan
Class of Stock [Line Items]
Share repurchases (shares)	5.6	15.3
Payments for repurchase of common stock	$ 97,700	$ 313,000
Remaining value of stock repurchase programs authorization	507,100
Stock Repurchase Program, Authorized Amount	1,000,000
Shares withheld to pay taxes
Class of Stock [Line Items]
Payments for repurchase of common stock	$ 3,100	$ 9,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Contingency [Line Items]
Effective income tax (percent)	37.90%	38.40%	34.70%	39.90%
Deferred tax assets, net	$ 1,277,096		$ 1,277,096		$ 1,394,879
Gross unrecognized tax benefits	22,500		22,500		39,000
Accrued interest and penalties on unrecognized tax benefits	11,900		11,900		$ 17,200
Possible decrease in unrecognized tax benefits	$ 18,500		$ 18,500
Minimum
Income Tax Contingency [Line Items]
Income tax years under examination			2,005
Maximum
Income Tax Contingency [Line Items]
Income tax years under examination			2,016

Fair Value Disclosures Fair V38

Fair Value Disclosures Fair Value Disclosures (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Disclosed at fair value:
Senior notes	$ 2,204,630	$ 1,643,651
Level 2
Disclosed at fair value:
Financial Services debt	189,557	267,877
Term loan	500,000	500,000
Level 1
Disclosed at fair value:
Cash and equivalents (including restricted cash)	255,671	775,435
Fair Value, Measurements, Nonrecurring | Level 3
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure, Nonrecurring	0	11,052
Interest rate lock commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring	11,480	5,574
Forward contracts | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring		338
Liabilities, Fair Value Disclosure, Recurring	(6,334)
Whole loan commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring		13
Liabilities, Fair Value Disclosure, Recurring	(303)
Residential Mortgage | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring	$ 364,004	$ 442,715

Fair Value Disclosures Narrativ

Fair Value Disclosures Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Senior notes	$ 2,103,821	$ 1,576,082

Commitments and Contingencies40

Commitments and Contingencies (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)claim	Jun. 30, 2015USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 227,200			$ 191,300
Surety bonds outstanding	$ 1,100,000			1,000,000
Maximum product warranty in years	10 years
Pending claims | claim	1,000
Self-insurance liabilities	$ 707,306	$ 700,133	$ 692,980	$ 692,053	$ 720,767	$ 710,245
Incurred but not reported percentage of liability reserves	64.00%			65.00%
litigation of recorded insurance receivable	108,100
Gain (loss) related to litigation settlement		$ 26,900
Other Assets
Loss Contingencies [Line Items]
Recorded insurance receivables	$ 136,700			$ 130,200

Commitments and Contingencies41

Commitments and Contingencies (Changes To Anticipated Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Loss Contingency Accrual [Roll Forward]
Liabilities, beginning of period	$ 47,093	$ 58,226	$ 46,381	$ 58,222
Reserves provided (released), net	(99)	81	767	139
Payments	(11,049)	(69)	(11,203)	(123)
Liabilities, end of period	$ 35,945	$ 58,238	$ 35,945	$ 58,238

Commitments and Contingencies42

Commitments and Contingencies (Changes To Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liabilities, beginning of period	$ 60,936	$ 57,401	$ 61,360	$ 65,389
Reserves provided	14,204	11,170	26,523	20,011
Payments	(13,101)	(14,648)	(25,844)	(31,477)
Other adjustments	(200)	579	(200)	579
Warranty liabilities, end of period	$ 61,839	$ 54,502	$ 61,839	$ 54,502

Commitments and Contingencies43

Commitments and Contingencies (Changes in Self-insurance Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Changes in Self-insurance Liability [Roll Forward]
Balance, beginning of period	$ 692,980	$ 720,767	$ 692,053	$ 710,245
Reserves provided, net	25,317	(9,386)	45,068	6,446
Payments	(10,991)	(11,248)	(29,815)	(16,558)
Balance, end of period	$ 707,306	$ 700,133	$ 707,306	$ 700,133

Supplemental Guarantor Inform44

Supplemental Guarantor Information (Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and equivalents	$ 229,187	$ 754,161	$ 460,361	$ 1,292,862
Restricted cash	26,484	21,274
House and land inventory	6,629,464	5,450,058
Land held for sale	85,781	81,492
Residential mortgage loans available-for-sale	364,004	442,715
Investments in unconsolidated entities	52,500	41,267
Other assets	681,168	660,835
Intangible assets	161,372	110,215
Deferred tax assets, net	1,277,096	1,394,879
Investments in subsidiaries and intercompany accounts, net	0	0
Total assets	9,507,056	8,956,896
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,862,369	1,798,139
Income tax liabilities	33,980	57,050
Financial Services debt	189,557	267,877
Term loan	499,212	498,423
Senior notes	2,103,821	1,576,082
Total liabilities	4,688,939	4,197,571
Total shareholders' equity	4,818,117	4,759,325	4,606,259	4,804,954
Total liabilities and shareholders' equity	9,507,056	8,956,896
PulteGroup, Inc.
ASSETS
Cash and equivalents	0	0	0	7,454
Restricted cash	0	0
House and land inventory	0	0
Land held for sale	0	0
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	99	93
Other assets	22,145	38,991
Intangible assets	0	0
Deferred tax assets, net	1,274,468	1,392,251
Investments in subsidiaries and intercompany accounts, net	6,237,109	5,529,606
Total assets	7,533,821	6,960,941
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	78,691	70,061
Income tax liabilities	33,980	57,050
Financial Services debt	0	0
Term loan	499,212	498,423
Senior notes	2,103,821	1,576,082
Total liabilities	2,715,704	2,201,616
Total shareholders' equity	4,818,117	4,759,325
Total liabilities and shareholders' equity	7,533,821	6,960,941
Guarantor Subsidiaries
ASSETS
Cash and equivalents	166,389	638,602	403,725	1,157,307
Restricted cash	25,001	20,274
House and land inventory	6,583,222	5,450,058
Land held for sale	85,271	80,458
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	47,569	36,499
Other assets	533,458	531,120
Intangible assets	161,372	110,215
Deferred tax assets, net	0	11
Investments in subsidiaries and intercompany accounts, net	(264,227)	465,644
Total assets	7,338,055	7,332,881
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,609,312	1,558,885
Income tax liabilities	0	0
Financial Services debt	0	0
Term loan	0	0
Senior notes	0	0
Total liabilities	1,609,312	1,558,885
Total shareholders' equity	5,728,743	5,773,996
Total liabilities and shareholders' equity	7,338,055	7,332,881
Non-Guarantor Subsidiaries
ASSETS
Cash and equivalents	62,798	115,559	56,636	128,101
Restricted cash	1,483	1,000
House and land inventory	46,242	0
Land held for sale	510	1,034
Residential mortgage loans available-for-sale	364,004	442,715
Investments in unconsolidated entities	4,832	4,675
Other assets	125,565	90,724
Intangible assets	0	0
Deferred tax assets, net	2,628	2,617
Investments in subsidiaries and intercompany accounts, net	6,614,233	6,293,018
Total assets	7,222,295	6,951,342
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	174,366	169,193
Income tax liabilities	0	0
Financial Services debt	189,557	267,877
Term loan	0	0
Senior notes	0	0
Total liabilities	363,923	437,070
Total shareholders' equity	6,858,372	6,514,272
Total liabilities and shareholders' equity	7,222,295	6,951,342
Eliminating Entries
ASSETS
Cash and equivalents	0	0	$ 0	$ 0
Restricted cash	0	0
House and land inventory	0	0
Land held for sale	0	0
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	0	0
Other assets	0	0
Intangible assets	0	0
Deferred tax assets, net	0	0
Investments in subsidiaries and intercompany accounts, net	(12,587,115)	(12,288,268)
Total assets	(12,587,115)	(12,288,268)
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	0	0
Income tax liabilities	0	0
Financial Services debt	0	0
Term loan	0	0
Senior notes	0	0
Total liabilities	0	0
Total shareholders' equity	(12,587,115)	(12,288,268)
Total liabilities and shareholders' equity	$ (12,587,115)	$ (12,288,268)

Supplemental Guarantor Inform45

Supplemental Guarantor Information (Statement of Operations and Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Homebuilding
Home sale revenues	$ 1,751,882	$ 1,243,077	$ 3,146,125	$ 2,331,235
Land sale revenues	4,950	6,460	7,437	24,002
Total homebuilding revenues	1,756,832	1,249,537	3,153,562	2,355,237
Financial Services	43,082	30,754	78,930	58,352
Total revenues	1,799,914	1,280,291	3,232,492	2,413,589
Homebuilding Cost of Revenues:
Home sale cost of revenues	1,374,509	953,280	2,463,838	1,794,425
Land sale cost of revenues	4,403	5,312	6,430	18,691
Total cost of revenues	1,378,912	958,592	2,470,268	1,813,116
Financial Services expenses	26,180	20,767	52,298	43,308
Selling, general, and administrative expenses	192,333	130,119	383,348	291,431
Other expense (income), net	12,909	3,186	18,785	2,303
Intercompany interest	0	0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	189,580	167,627	307,793	263,431
Income tax expense (benefit)	71,820	64,303	106,733	105,136
Income (loss) before equity in income (loss) of subsidiaries	117,760	103,324	201,060	158,295
Equity in income (loss) of subsidiaries	0	0	0	0
Net income	117,760	103,324	201,060	158,295
Other comprehensive income	20	21	41	42
Comprehensive income (loss)	117,780	103,345	201,101	158,337
PulteGroup, Inc.
Homebuilding
Home sale revenues	0	0	0	0
Land sale revenues	0	0	0	0
Total homebuilding revenues	0	0	0	0
Financial Services	0	0	0	0
Total revenues	0	0	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues	0	0	0	0
Land sale cost of revenues	0	0	0	0
Total cost of revenues	0	0	0	0
Financial Services expenses	0	101	0	288
Selling, general, and administrative expenses	0	0	0	0
Other expense (income), net	170	198	340	373
Intercompany interest	490	(6,781)	1,000	943
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(660)	6,482	(1,340)	(1,604)
Income tax expense (benefit)	(246)	2,462	(509)	(609)
Income (loss) before equity in income (loss) of subsidiaries	(414)	4,020	(831)	(995)
Equity in income (loss) of subsidiaries	118,174	99,304	201,891	159,290
Net income	117,760	103,324	201,060	158,295
Other comprehensive income	20	21	41	42
Comprehensive income (loss)	117,780	103,345	201,101	158,337
Guarantor Subsidiaries
Homebuilding
Home sale revenues	1,746,484	1,243,077	3,139,743	2,331,235
Land sale revenues	3,893	6,460	5,903	24,002
Total homebuilding revenues	1,750,377	1,249,537	3,145,646	2,355,237
Financial Services	0	0	0	0
Total revenues	1,750,377	1,249,537	3,145,646	2,355,237
Homebuilding Cost of Revenues:
Home sale cost of revenues	1,369,003	953,280	2,456,168	1,794,425
Land sale cost of revenues	3,505	5,312	5,148	18,691
Total cost of revenues	1,372,508	958,592	2,461,316	1,813,116
Financial Services expenses	137	(92)	260	(261)
Selling, general, and administrative expenses	184,515	129,457	372,097	290,285
Other expense (income), net	20,759	3,139	30,434	2,431
Intercompany interest	2,035	9,269	4,219	3,847
Income (loss) before income taxes and equity in income (loss) of subsidiaries	170,423	149,172	277,320	245,819
Income tax expense (benefit)	64,415	57,270	94,983	98,365
Income (loss) before equity in income (loss) of subsidiaries	106,008	91,902	182,337	147,454
Equity in income (loss) of subsidiaries	2,869	7,332	9,879	11,669
Net income	108,877	99,234	192,216	159,123
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	108,877	99,234	192,216	159,123
Non-Guarantor Subsidiaries
Homebuilding
Home sale revenues	5,398	0	6,382	0
Land sale revenues	1,057	0	1,534	0
Total homebuilding revenues	6,455	0	7,916	0
Financial Services	43,082	30,754	78,930	58,352
Total revenues	49,537	30,754	86,846	58,352
Homebuilding Cost of Revenues:
Home sale cost of revenues	5,506	0	7,670	0
Land sale cost of revenues	898	0	1,282	0
Total cost of revenues	6,404	0	8,952	0
Financial Services expenses	26,043	20,758	52,038	43,281
Selling, general, and administrative expenses	7,818	662	11,251	1,146
Other expense (income), net	(8,020)	(151)	(11,989)	(501)
Intercompany interest	(2,525)	(2,488)	(5,219)	(4,790)
Income (loss) before income taxes and equity in income (loss) of subsidiaries	19,817	11,973	31,813	19,216
Income tax expense (benefit)	7,651	4,571	12,259	7,380
Income (loss) before equity in income (loss) of subsidiaries	12,166	7,402	19,554	11,836
Equity in income (loss) of subsidiaries	73,975	92,596	185,893	144,659
Net income	86,141	99,998	205,447	156,495
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	86,141	99,998	205,447	156,495
Eliminating Entries
Homebuilding
Home sale revenues	0	0	0	0
Land sale revenues	0	0	0	0
Total homebuilding revenues	0	0	0	0
Financial Services	0	0	0	0
Total revenues	0	0	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues	0	0	0	0
Land sale cost of revenues	0	0	0	0
Total cost of revenues	0	0	0	0
Financial Services expenses	0	0	0	0
Selling, general, and administrative expenses	0	0	0	0
Other expense (income), net	0	0	0	0
Intercompany interest	0	0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	0	0	0	0
Income tax expense (benefit)	0	0	0	0
Income (loss) before equity in income (loss) of subsidiaries	0	0	0	0
Equity in income (loss) of subsidiaries	(195,018)	(199,232)	(397,663)	(315,618)
Net income	(195,018)	(199,232)	(397,663)	(315,618)
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	$ (195,018)	$ (199,232)	$ (397,663)	$ (315,618)

Supplemental Guarantor Inform46

Supplemental Guarantor Information (Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Net cash provided by (used in) operating activities	$ (325,316)	$ (191,103)
Cash flows from investing activities:
Capital expenditures	(21,044)	(23,115)
Cash used for business acquisition	(430,025)	0
Other investing activities, net	(8,296)	14,650
Net cash used in investing activities	(459,365)	(8,465)
Cash flows from financing activities:
Proceeds from debt issuance	986,084	0
Repayments of debt	(484,974)	(237,994)
Borrowings under revolving credit facility	358,000	0
Repayments under revolving credit facility	(358,000)	0
Financial Services borrowings (repayments)	(78,320)	(20,970)
Stock option exercises	742	7,222
Share repurchases	(100,806)	(322,066)
Dividends paid	(63,019)	(59,125)
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	259,707	(632,933)
Net increase (decrease) in cash and equivalents	(524,974)	(832,501)
Cash and equivalents at beginning of period	754,161	1,292,862
Cash and equivalents at end of period	229,187	460,361
PulteGroup, Inc.
Net cash provided by (used in) operating activities	143,228	65,947
Cash flows from investing activities:
Capital expenditures	0	0
Cash used for business acquisition	0
Other investing activities, net	(6)	3,710
Net cash used in investing activities	(6)	3,710
Cash flows from financing activities:
Proceeds from debt issuance	986,084
Repayments of debt	(465,245)	(237,994)
Borrowings under revolving credit facility	358,000
Repayments under revolving credit facility	(358,000)
Financial Services borrowings (repayments)	0	0
Stock option exercises	742	7,222
Share repurchases	(100,806)	(322,066)
Dividends paid	(63,019)	(59,125)
Intercompany activities, net	(500,978)	534,852
Net cash provided by (used in) financing activities	(143,222)	(77,111)
Net increase (decrease) in cash and equivalents	0	(7,454)
Cash and equivalents at beginning of period	0	7,454
Cash and equivalents at end of period	0	0
Guarantor Subsidiaries
Net cash provided by (used in) operating activities	(548,580)	(325,154)
Cash flows from investing activities:
Capital expenditures	(19,736)	(20,871)
Cash used for business acquisition	(430,025)
Other investing activities, net	(10,346)	1,031
Net cash used in investing activities	(460,107)	(19,840)
Cash flows from financing activities:
Proceeds from debt issuance	0
Repayments of debt	(19,729)	0
Borrowings under revolving credit facility	0
Repayments under revolving credit facility	0
Financial Services borrowings (repayments)	0	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	556,203	(408,588)
Net cash provided by (used in) financing activities	536,474	(408,588)
Net increase (decrease) in cash and equivalents	(472,213)	(753,582)
Cash and equivalents at beginning of period	638,602	1,157,307
Cash and equivalents at end of period	166,389	403,725
Non-Guarantor Subsidiaries
Net cash provided by (used in) operating activities	80,036	68,104
Cash flows from investing activities:
Capital expenditures	(1,308)	(2,244)
Cash used for business acquisition	0
Other investing activities, net	2,056	9,909
Net cash used in investing activities	748	7,665
Cash flows from financing activities:
Proceeds from debt issuance	0
Repayments of debt	0
Borrowings under revolving credit facility	0
Repayments under revolving credit facility	0
Financial Services borrowings (repayments)	(78,320)	(20,970)
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	(55,225)	(126,264)
Net cash provided by (used in) financing activities	(133,545)	(147,234)
Net increase (decrease) in cash and equivalents	(52,761)	(71,465)
Cash and equivalents at beginning of period	115,559	128,101
Cash and equivalents at end of period	62,798	56,636
Eliminating Entries
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Cash used for business acquisition	0
Other investing activities, net	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from debt issuance	0
Repayments of debt	0
Borrowings under revolving credit facility	0
Repayments under revolving credit facility	0
Financial Services borrowings (repayments)	0	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	0	0
Net increase (decrease) in cash and equivalents	0	0
Cash and equivalents at beginning of period	0	0
Cash and equivalents at end of period	$ 0	$ 0