PulteGroup (PHM) 10-Q 25 Apr 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2017	Apr. 20, 2017
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	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		315,503,892

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and equivalents	$ 397,758	$ 698,882
Restricted cash	26,105	24,366
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents	423,863	723,248
House and land inventory	7,028,335	6,770,655
Land held for sale	48,563	31,728
Residential mortgage loans available-for-sale	345,379	539,496
Investments in unconsolidated entities	65,293	51,447
Other assets	829,625	857,426
Intangible assets	151,342	154,792
Deferred tax assets, net	1,028,414	1,049,408
Total assets	9,920,814	10,178,200
Liabilities:
Accounts payable	367,180	405,455
Customer deposits	240,745	187,891
Accrued and other liabilities	1,360,418	1,448,994
Income tax liabilities	41,941	34,860
Financial Services debt	140,381	331,621
Senior notes	3,110,004	3,110,016
Total liabilities	5,260,669	5,518,837
Shareholders' equity	4,660,145	4,659,363
Total liabilities and shareholders' equity	$ 9,920,814	$ 10,178,200

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Homebuilding
Home sale revenues	$ 1,585,421	$ 1,394,243
Land sale revenues	1,640	2,487
Total homebuilding revenues	1,587,061	1,396,730
Financial Services	41,767	35,848
Consolidated revenues	1,628,828	1,432,578
Homebuilding Cost of Revenues:
Home sale cost of revenues	(1,217,678)	(1,038,028)
Land sale cost of revenues	(3,228)	(2,028)
Total cost of revenues	(1,220,906)	(1,040,056)
Financial Services expenses	(28,367)	(26,119)
Selling, general, and administrative expenses	(236,268)	(242,316)
Other expense, net	(4,022)	(5,874)
Income before income taxes	139,265	118,213
Income tax expense	47,747	34,913
Net income	$ 91,518	$ 83,300
Per share:
Basic earnings (usd per share)	$ 0.29	$ 0.24
Diluted earnings (usd per share)	0.28	0.24
Cash dividends declared (usd per share)	$ 0.09	$ 0.09
Number of shares used in calculation:
Basic shares outstanding (shares)	317,756	347,815
Effect of dilutive securities (shares)	2,329	2,662
Diluted shares outstanding (shares)	320,085	350,477

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 91,518	$ 83,300
Other comprehensive income, net of tax:
Change in value of derivatives	21	21
Other comprehensive income	21	21
Comprehensive income	$ 91,539	$ 83,321

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, 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)		4
Stock option exercises	52	$ 0	52
Stock issuances, net of cancellations (shares)		456
Stock issuances, net of cancellations	8,856	$ 4	8,852
Dividends declared	(31,459)		0		(31,459)
Share repurchases	(52,745)	$ (32)			(52,713)
Share repurchases (shares)		(3,226)
Share-based compensation	6,635		6,635
Excess tax benefits (deficiencies) from share-based awards	(458)		(458)
Net income	83,300				83,300
Other comprehensive income	21			21
Shareholders' Equity end of period at Mar. 31, 2016	4,773,527	$ 3,463	3,108,883	(588)	1,661,769
Shareholders' Equity, shares end of period (shares) at Mar. 31, 2016		346,383
Cumulative Effect on Retained Earnings, Net of Tax	18,237		(406)		18,643
Shareholders' Equity beginning of period at Dec. 31, 2016	4,659,363	$ 3,191	3,116,490	(526)	1,540,208
Shareholders' Equity, shares beginning of period (shares) at Dec. 31, 2016		319,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises (shares)		961
Stock option exercises	11,118	$ 10	11,108
Stock issuances, net of cancellations (shares)		677
Stock issuances, net of cancellations	3,566	$ 10	3,556
Dividends declared	(28,838)				(28,838)
Share repurchases	(105,522)	$ (50)			(105,472)
Share repurchases (shares)		(4,696)
Share-based compensation	10,682		10,682
Net income	91,518				91,518
Other comprehensive income	21			21
Shareholders' Equity end of period at Mar. 31, 2017	$ 4,660,145	$ 3,161	$ 3,141,430	$ (505)	$ 1,516,059
Shareholders' Equity, shares end of period (shares) at Mar. 31, 2017		316,032

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 91,518	$ 83,300
Adjustments to reconcile net income to net cash from operating activities:
Deferred income tax expense	39,226	50,026
Depreciation and amortization	13,209	13,113
Share-based compensation expense	14,161	9,355
Other, net	4,090	4,447
Increase (decrease) in cash due to:
Inventories	(267,014)	(381,910)
Residential mortgage loans available-for-sale	194,117	151,886
Other assets	21,858	(25,133)
Accounts payable, accrued and other liabilities	(71,362)	31,999
Net cash provided by (used in) operating activities	39,803	(62,917)
Cash flows from investing activities:
Capital expenditures	(9,996)	(9,460)
Investment in unconsolidated subsidiaries	(14,802)	(13,534)
Cash used for business acquisition	0	(430,011)
Other investing activities, net	1,423	1,253
Net cash used in investing activities	(23,375)	(451,752)
Cash flows from financing activities:
Proceeds from debt issuance	0	991,575
Repayments of debt	(1,067)	(702)
Borrowings under revolving credit facility	0	220,000
Repayments under revolving credit facility	0	(220,000)
Financial Services borrowings (repayments)	(191,240)	(149,263)
Stock option exercises	11,118	52
Share repurchases	(105,522)	(52,745)
Dividends paid	(29,102)	(31,568)
Net cash provided by (used in) financing activities	(315,813)	757,349
Net increase (decrease)	(299,385)	242,680
Cash, cash equivalents, and restricted cash at beginning of period	723,248	775,435
Cash, cash equivalents, and restricted cash at end of period	423,863	1,018,115
Supplemental Cash Flow Information:
Interest paid (capitalized), net	12,830	(23,124)
Income taxes paid (refunded), net	$ 1,043	$ 1,212

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
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, 2016 . Business acquisition We acquired substantially all of the assets of JW Homes ("Wieland") in January 2016 for $ 430.5 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 $40.4 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. Subsequent events We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission ("the SEC"). Other expense, net Other expense, net consists of the following ($000’s omitted): Three Months Ended March 31, 2017 2016 Write-off of deposits and pre-acquisition costs $ 1,655 $ 3,041 Amortization of intangible assets 3,450 3,450 Interest income (833 ) (923 ) Interest expense 137 174 Equity in earnings of unconsolidated entities (1,193 ) (170 ) Miscellaneous, net 806 302 Total other expense, net $ 4,022 $ 5,874 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, 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 0.1 million and 2.3 million potentially dilutive instruments, including stock options, unvested restricted shares, and unvested restricted share units, for the three months ended March 31, 2017 and 2016 , 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 March 31, 2017 2016 Numerator: Net income $ 91,518 $ 83,300 Less: earnings distributed to participating securities (305 ) (285 ) Less: undistributed earnings allocated to participating securities (618 ) (404 ) Numerator for basic earnings per share $ 90,595 $ 82,611 Add back: undistributed earnings allocated to participating securities 618 404 Less: undistributed earnings reallocated to participating securities (613 ) (401 ) Numerator for diluted earnings per share $ 90,600 $ 82,614 Denominator: Basic shares outstanding 317,756 347,815 Effect of dilutive securities 2,329 2,662 Diluted shares outstanding 320,085 350,477 Earnings per share: Basic $ 0.29 $ 0.24 Diluted $ 0.28 $ 0.24 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 March 31, 2017 and December 31, 2016 , residential mortgage loans available-for-sale had an aggregate fair value of $345.4 million and $539.5 million , respectively, and an aggregate outstanding principal balance of $332.9 million and $529.7 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $(2.0) million and $1.0 million for the three months ended March 31, 2017 and 2016 , respectively. These changes in fair value were substantially offset by changes in the fair value of corresponding hedging instruments. Net gains from the sale of mortgages were $25.3 million and $21.5 million for the three months ended March 31, 2017 and 2016 , 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 March 31, 2017 and December 31, 2016 , we had aggregate IRLCs of $354.7 million and $273.9 million , respectively, which were originated at interest rates prevailing at the date of commitment. Since we can terminate a loan commitment if the borrower does not comply with the terms of the contract, and some loan commitments may expire without being drawn upon, these commitments do not necessarily represent future cash requirements. We evaluate the creditworthiness of these transactions through our normal credit policies. 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 investor commitments, which are obligations of an 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 extend an interest rate lock to a loan applicant until the time the loan is sold to an investor. At March 31, 2017 and December 31, 2016 , we had unexpired forward contracts of $555.0 million and $610.0 million , respectively, and whole loan investor commitments of $102.2 million and $157.6 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 IRLCs 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 investor commitments. We are generally not exposed to variability in cash flows of derivative instruments for more than approximately 90 days. The fair values of derivative instruments and their locations in the Condensed Consolidated Balance Sheets are summarized below ($000’s omitted): March 31, 2017 December 31, 2016 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 12,638 $ 182 $ 9,194 $ 501 Forward contracts 323 3,292 8,085 1,004 Whole loan commitments 215 447 1,135 863 $ 13,176 $ 3,921 $ 18,414 $ 2,368 New accounting pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). 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 a number of updates to this standard. The standard is effective for us for annual and interim periods beginning January 1, 2018, and, at that time, we expect to apply the modified retrospective method of adoption. We continue to evaluate the impact that the standard will have 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 is effective for us for annual and interim periods beginning January 1, 2019 and early adoption is permitted. The standard 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, and was effective for us at January 1, 2017. Excess tax benefits or deficiencies for stock-based compensation are now reflected in the Consolidated Statements of Operations as a component of income tax expense, whereas previously they were recognized in equity. We have also elected to account for forfeitures as they occur, rather than estimate expected forfeitures. As a result of adopting ASU 2016-09, we applied the modified retrospective approach and recorded a cumulative-effect adjustment that increased our retained earnings and deferred tax assets as of January 1, 2017 by $18.6 million , respectively, as a result of previously unrecognized excess tax benefits (see Note 6 ). Additionally, the impact of recognizing excess tax benefits in the income statement resulted in a $2.8 million reduction in our income tax expense for the three months ended March 31, 2017. The remaining aspects of adopting ASU 2016-09 did not have a material impact 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. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), which addresses several specific cash flow issues. ASU 2016-15 is effective for us for annual and interim periods beginning January 1, 2018, with early adoption permitted, and requires full retrospective application on adoption. We do not expect ASU 2016-15 to have a material impact on our financial statements. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment" ("ASU 2017-04"), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 to have a material impact on our financial statements. In February 2017, the FASB issued ASU No. 2017-05, "Other Income - Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (Subtopic 610-20)" ("ASU 2017-05"). ASU 2017-05 updates the definition of an "in substance nonfinancial asset" and clarifies the derecognition guidance for nonfinancial assets to conform with the new revenue recognition standard. The effective date and transition methods of ASU 2017-05 are aligned with ASU 2014-09 described above. We are currently evaluating the impact that the standard will have on our financial statements.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventory	Inventory Major components of inventory were as follows ($000’s omitted): March 31, December 31, Homes under construction $ 2,149,799 $ 1,921,259 Land under development 4,181,691 4,072,109 Raw land 696,845 777,287 $ 7,028,335 $ 6,770,655 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 March 31, 2017 2016 Interest in inventory, beginning of period $ 186,097 $ 149,498 Interest capitalized 44,923 35,284 Interest expensed (27,192 ) (26,129 ) Interest in inventory, end of period $ 203,828 $ 158,653 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 March 31, 2017 or December 31, 2016 because we determined that we were not the VIEs' 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 March 31, 2017 and December 31, 2016 ($000’s omitted): March 31, 2017 December 31, 2016 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 71,558 $ 842,784 $ 68,527 $ 849,901 Other land options 124,159 1,149,377 126,909 1,252,662 $ 195,717 $ 1,992,161 $ 195,436 $ 2,102,563

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Revenues: Northeast $ 108,582 $ 118,654 Southeast 328,764 294,426 Florida 314,197 269,841 Midwest 244,412 189,892 Texas 234,266 213,292 West 356,840 310,625 1,587,061 1,396,730 Financial Services 41,767 35,848 Consolidated revenues $ 1,628,828 $ 1,432,578 Income before income taxes: Northeast $ 4,400 $ 9,590 Southeast 32,366 19,770 Florida 44,523 40,302 Midwest 18,254 5,620 Texas 32,796 28,517 West 34,084 33,507 Other homebuilding (a) (40,661 ) (28,873 ) 125,762 108,433 Financial Services 13,503 9,780 Consolidated income before income taxes $ 139,265 $ 118,213 (a) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. Operating Data by Segment ($000's omitted) March 31, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 210,725 $ 354,338 $ 136,534 $ 701,597 $ 804,319 Southeast 378,835 647,074 145,945 1,171,854 1,277,838 Florida 329,061 811,341 113,061 1,253,463 1,389,509 Midwest 314,479 447,268 64,595 826,342 893,002 Texas 247,286 411,947 69,345 728,578 816,230 West 637,449 1,268,496 143,165 2,049,110 2,273,198 Other homebuilding (a) 31,964 241,227 24,200 297,391 2,055,489 2,149,799 4,181,691 696,845 7,028,335 9,509,585 Financial Services — — — — 411,229 $ 2,149,799 $ 4,181,691 $ 696,845 $ 7,028,335 $ 9,920,814 December 31, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 175,253 $ 375,899 $ 135,447 $ 686,599 $ 798,369 Southeast 354,047 650,805 148,793 1,153,645 1,243,188 Florida 309,525 683,376 183,168 1,176,069 1,330,847 Midwest 256,649 474,287 50,302 781,238 851,457 Texas 219,606 413,312 74,750 707,668 793,917 West 580,082 1,226,190 159,387 1,965,659 2,200,058 Other homebuilding (a) 26,097 248,240 25,440 299,777 2,351,082 1,921,259 4,072,109 777,287 6,770,655 9,568,918 Financial Services — — — — 609,282 $ 1,921,259 $ 4,072,109 $ 777,287 $ 6,770,655 $ 10,178,200 (a) 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	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	Debt Senior notes Our senior notes are summarized as follows ($000’s omitted): March 31, December 31, 7.625% unsecured senior notes due October 2017 (a) 123,000 123,000 4.250% unsecured senior notes due March 2021 (b) 700,000 700,000 5.500% unsecured senior notes due March 2026 (b) 700,000 700,000 5.000% unsecured senior notes due January 2027 (b) 600,000 600,000 7.875% unsecured senior notes due June 2032 (b) 300,000 300,000 6.375% unsecured senior notes due May 2033 (b) 400,000 400,000 6.000% unsecured senior notes due February 2035 (b) 300,000 300,000 Net premiums, discounts, and issuance costs (c) (12,996 ) (12,984 ) Total senior notes $ 3,110,004 $ 3,110,016 Estimated fair value $ 3,206,575 $ 3,112,297 (a) Not redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (b) 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. 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 . Revolving credit facility We maintain a senior unsecured revolving credit facility (the “Revolving Credit Facility”) that matures in June 2019 and provides for maximum borrowings of $750.0 million . 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 March 31, 2017 . 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 $226.9 million and $219.1 million of letters of credit issued under the Revolving Credit Facility at March 31, 2017 and December 31, 2016 , 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 March 31, 2017 , we were in compliance with all covenants. Outstanding balances under the Revolving Credit Facility are guaranteed by certain of our wholly-owned subsidiaries. Limited recourse notes payable Certain of our local homebuilding operations are party to limited recourse collateralized notes payable with third parties that totaled $20.0 million at March 31, 2017 and $19.3 million at December 31, 2016 . 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% . Joint venture debt In March 2017, we provided a limited recourse guaranty under a revolving credit facility held by one of our unconsolidated joint ventures. The Company’s maximum financial loss exposure related to the guaranty is limited to our proportionate share of 50% of the amount outstanding under the facility ( $52.5 million at March 31, 2017 ) that is determined to be owed due to a triggering event under such guaranty. The limited guaranty includes, but is not limited to, the following: (i) completion of certain aspects of the project; (ii) an environmental indemnity provided to the lender; and (iii) an indemnification of the lender from certain "bad boy acts" of the joint venture. Pulte Mortgage Pulte Mortgage maintains a master repurchase agreement (the “Repurchase Agreement”) with third party lenders that expires in August 2017 . The maximum aggregate commitment is $200.0 million at March 31, 2017 and is effective through April 13, 2017, after which it decreases to $175.0 million . The purpose of 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 $140.4 million and $331.6 million outstanding under the Repurchase Agreement at March 31, 2017 and December 31, 2016 , respectively, and was in compliance with all of its covenants and requirements as of such dates.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Shareholders’ equity	Shareholders’ equity During the three months ended March 31, 2017 , we declared cash dividends totaling $28.8 million and repurchased 4.7 million shares under our repurchase authorization for a total of $100.0 million . For the three months ended March 31, 2016 , we declared cash dividends totaling $31.5 million and repurchased 3.1 million shares under our repurchase authorization for a total of $50.0 million . At March 31, 2017 , we had remaining authorization to repurchase $904.8 million of common shares. 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 three months ended March 31, 2017 and 2016 , participants surrendered shares valued at $5.5 million and $2.7 million , respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Our effective tax rate for the three months ended March 31, 2017 and 2016 was 34.3% and 29.5% , respectively. Our effective tax rate for the current period differed from the federal statutory tax rate primarily due to the tax benefits relating to the domestic production activities deduction and the deduction for equity compensation based on ASU 2016-09 as well as state income tax expense on current year earnings. For the same period in the prior year, our effective tax rate differed from the federal statutory tax rate primarily due to the favorable resolution of certain state income tax matters. At March 31, 2017 and December 31, 2016 , we had deferred tax assets, net of deferred tax liabilities and valuation allowance, of $1.0 billion and $1.0 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 March 31, 2017 and December 31, 2016 , we had $20.7 million and $21.5 million , respectively, of gross unrecognized tax benefits and $11.8 million and $12.2 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 $17.3 million , excluding interest and penalties, primarily due to expirations of certain statutes of limitations and potential settlements. As a result of the adoption of ASU No. 2016-09 (see Note 1 ), we recorded a cumulative-effect adjustment to increase retained earnings and deferred tax assets as of January 1, 2017 by $18.6 million , respectively, as a result of previously unrecognized excess tax benefits. 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	3 Months Ended
	Mar. 31, 2017
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 March 31, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 345,379 $ 539,496 Interest rate lock commitments Level 2 12,456 8,693 Forward contracts Level 2 (2,969 ) 7,081 Whole loan commitments Level 2 (232 ) 272 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ — $ 8,920 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 423,863 $ 723,248 Financial Services debt Level 2 140,381 331,621 Senior notes Level 2 3,206,575 3,112,297 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, 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 $3.1 billion and $3.1 billion at March 31, 2017 and December 31, 2016 , respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Liabilities, beginning of period $ 35,114 $ 46,381 Reserves provided (released), net 2 866 Payments — (154 ) Liabilities, end of period $ 35,116 $ 47,093 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 $226.9 million and $1.1 billion , respectively, at March 31, 2017 and $219.1 million and $1.1 billion , respectively, at December 31, 2016 . 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 March 31, 2017 2016 Warranty liabilities, beginning of period $ 66,134 $ 61,179 Reserves provided 10,643 12,319 Payments (12,099 ) (12,562 ) Other adjustments 3 — Warranty liabilities, end of period $ 64,681 $ 60,936 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 $835.3 million and $831.1 million at March 31, 2017 and December 31, 2016 , 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 70% of the total general liability reserves at both March 31, 2017 and December 31, 2016 . 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. 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 March 31, 2017 2016 Balance, beginning of period $ 831,058 $ 924,563 Reserves provided, net 17,735 19,751 Payments, net (a) (13,467 ) (21,929 ) Balance, end of period $ 835,326 $ 922,385 (a) Includes net changes in amounts expected to be recovered from our insurance carriers, which are recorded to other assets (see below). 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 $291.8 million and $307.3 million at March 31, 2017 and December 31, 2016 , 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. During the three months ended March 31, 2017, we wrote-off $15.0 million of insurance receivables in conjunction with settling insurance policies with multiple carriers covering multiple years. Additionally, we are the plaintiff in litigation with certain of our insurance carriers in regard to $99.3 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	3 Months Ended
	Mar. 31, 2017
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 MARCH 31, 2017 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 327,047 $ 70,711 $ — $ 397,758 Restricted cash — 25,055 1,050 — 26,105 Total cash, cash equivalents, and — 352,102 71,761 — 423,863 House and land inventory — 6,955,235 73,100 — 7,028,335 Land held for sale — 48,053 510 — 48,563 Residential mortgage loans available- — — 345,379 — 345,379 Investments in unconsolidated entities 112 59,803 5,378 — 65,293 Other assets 11,509 697,869 120,247 — 829,625 Intangible assets — 151,342 — — 151,342 Deferred tax assets, net 1,030,351 — (1,937 ) — 1,028,414 Investments in subsidiaries and 6,849,655 (331,013 ) 6,991,618 (13,510,260 ) — $ 7,891,627 $ 7,933,391 $ 7,606,056 $ (13,510,260 ) $ 9,920,814 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 79,537 $ 1,703,179 $ 185,627 $ — $ 1,968,343 Income tax liabilities 41,941 — — — 41,941 Financial Services debt — — 140,381 — 140,381 Senior notes 3,110,004 — — — 3,110,004 Total liabilities 3,231,482 1,703,179 326,008 — 5,260,669 Total shareholders’ equity 4,660,145 6,230,212 7,280,048 (13,510,260 ) 4,660,145 $ 7,891,627 $ 7,933,391 $ 7,606,056 $ (13,510,260 ) $ 9,920,814 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2016 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 588,353 $ 110,529 $ — $ 698,882 Restricted cash — 22,832 1,534 — 24,366 Total cash, cash equivalents, and — 611,185 112,063 — 723,248 House and land inventory — 6,707,392 63,263 — 6,770,655 Land held for sale — 31,218 510 — 31,728 Residential mortgage loans available- — — 539,496 — 539,496 Investments in unconsolidated entities 105 46,248 5,094 — 51,447 Other assets 12,364 716,923 128,139 — 857,426 Intangible assets — 154,792 — — 154,792 Deferred tax assets, net 1,051,351 — (1,943 ) — 1,049,408 Investments in subsidiaries and 6,835,075 (376,748 ) 6,845,781 (13,304,108 ) — $ 7,898,895 $ 7,891,010 $ 7,692,403 $ (13,304,108 ) $ 10,178,200 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 94,656 $ 1,755,756 $ 191,928 $ — $ 2,042,340 Income tax liabilities 34,860 — — — 34,860 Financial Services debt — — 331,621 — 331,621 Senior notes 3,110,016 — — — 3,110,016 Total liabilities 3,239,532 1,755,756 523,549 — 5,518,837 Total shareholders’ equity 4,659,363 6,135,254 7,168,854 (13,304,108 ) 4,659,363 $ 7,898,895 $ 7,891,010 $ 7,692,403 $ (13,304,108 ) $ 10,178,200 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,576,645 $ 8,776 $ — $ 1,585,421 Land sale revenues — 867 773 — 1,640 — 1,577,512 9,549 — 1,587,061 Financial Services — — 41,767 — 41,767 — 1,577,512 51,316 — 1,628,828 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,209,640 ) (8,038 ) — (1,217,678 ) Land sale cost of revenues — (2,595 ) (633 ) — (3,228 ) — (1,212,235 ) (8,671 ) — (1,220,906 ) Financial Services expenses — (139 ) (28,228 ) — (28,367 ) Selling, general, and administrative — (217,975 ) (18,293 ) — (236,268 ) Other expense, net (130 ) (11,843 ) 7,951 — (4,022 ) Intercompany interest (335 ) — 335 — — Income (loss) before income taxes and (465 ) 135,320 4,410 — 139,265 Income tax (expense) benefit 177 (45,925 ) (1,999 ) — (47,747 ) Income (loss) before equity in income (288 ) 89,395 2,411 — 91,518 Equity in income (loss) of subsidiaries 91,806 7,253 37,309 (136,368 ) — Net income (loss) 91,518 96,648 39,720 (136,368 ) 91,518 Other comprehensive income 21 — — — 21 Comprehensive income (loss) $ 91,539 $ 96,648 $ 39,720 $ (136,368 ) $ 91,539 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,393,259 $ 984 $ — $ 1,394,243 Land sale revenues — 2,010 477 — 2,487 — 1,395,269 1,461 — 1,396,730 Financial Services — — 35,848 — 35,848 — 1,395,269 37,309 — 1,432,578 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,035,864 ) (2,164 ) — (1,038,028 ) Land sale cost of revenues — (1,643 ) (385 ) — (2,028 ) — (1,037,507 ) (2,549 ) — (1,040,056 ) Financial Services expenses — (123 ) (25,996 ) — (26,119 ) Selling, general, and administrative — (238,882 ) (3,434 ) — (242,316 ) Other expense, net (170 ) (9,676 ) 3,972 — (5,874 ) Intercompany interest (510 ) (2,184 ) 2,694 — — Income (loss) before income taxes and (680 ) 106,897 11,996 — 118,213 Income tax (expense) benefit 263 (30,568 ) (4,608 ) — (34,913 ) Income (loss) before equity in income (417 ) 76,329 7,388 — 83,300 Equity in income (loss) of subsidiaries 83,717 7,010 111,918 (202,645 ) — Net income (loss) 83,300 83,339 119,306 (202,645 ) 83,300 Other comprehensive income 21 — — — 21 Comprehensive income (loss) $ 83,321 $ 83,339 $ 119,306 $ (202,645 ) $ 83,321 CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ (141,566 ) $ (8,041 ) $ 189,410 $ — $ 39,803 Cash flows from investing activities: Capital expenditures — (8,442 ) (1,554 ) — (9,996 ) Investment in unconsolidated subsidiaries — (14,802 ) — — (14,802 ) Other investing activities, net — 2 1,421 — 1,423 Net cash provided by (used in) — (23,242 ) (133 ) — (23,375 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (191,240 ) — (191,240 ) Proceeds from debt issuance — — — — — Repayments of debt — (741 ) (326 ) — (1,067 ) Borrowings under revolving credit facility — — — — — Repayments under revolving credit facility — — — — — Stock option exercises 11,118 — — — 11,118 Share repurchases (105,522 ) — — — (105,522 ) Dividends paid (29,102 ) — — — (29,102 ) Intercompany activities, net 265,072 (227,059 ) (38,013 ) — — Net cash provided by (used in) 141,566 (227,800 ) (229,579 ) — (315,813 ) Net increase (decrease) — (259,083 ) (40,302 ) — (299,385 ) Cash, cash equivalents, and restricted cash — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash $ — $ 352,102 $ 71,761 $ — $ 423,863 CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 41,058 $ (254,849 ) $ 150,874 $ — $ (62,917 ) Cash flows from investing activities: Capital expenditures — (8,918 ) (542 ) — (9,460 ) Cash used for business acquisition — (430,011 ) — — (430,011 ) Investment in unconsolidated subsidiaries (3 ) (13,531 ) — — (13,534 ) Other investing activities, net — 800 453 — 1,253 Net cash provided by (used in) investing (3 ) (451,660 ) (89 ) — (451,752 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (149,263 ) — (149,263 ) Proceeds from debt issuance 991,575 — — — 991,575 Repayments of debt — (702 ) — — (702 ) Borrowings under revolving credit facility 220,000 — — — 220,000 Repayments under revolving credit facility (220,000 ) — — — (220,000 ) Stock option exercises 52 — — — 52 Share repurchases (52,745 ) — — — (52,745 ) Dividends paid (31,568 ) — — — (31,568 ) Intercompany activities, net (948,369 ) 1,007,002 (58,633 ) — — Net cash provided by (used in) (41,055 ) 1,006,300 (207,896 ) — 757,349 Net increase (decrease) — 299,791 (57,111 ) — 242,680 Cash, cash equivalents, and restricted cash — 658,876 116,559 — 775,435 Cash, cash equivalents, and restricted cash $ — $ 958,667 $ 59,448 $ — $ 1,018,115

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2017
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, 2016 .
Business acquisition	We acquired substantially all of the assets of JW Homes ("Wieland") in January 2016 for $ 430.5 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 $40.4 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
Subsequent events	We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission ("the 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, 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 0.1 million and 2.3 million potentially dilutive instruments, including stock options, unvested restricted shares, and unvested restricted share units, for the three months ended March 31, 2017 and 2016 , 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 March 31, 2017 and December 31, 2016 , residential mortgage loans available-for-sale had an aggregate fair value of $345.4 million and $539.5 million , respectively, and an aggregate outstanding principal balance of $332.9 million and $529.7 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $(2.0) million and $1.0 million for the three months ended March 31, 2017 and 2016 , respectively. These changes in fair value were substantially offset by changes in the fair value of corresponding hedging instruments. Net gains from the sale of mortgages were $25.3 million and $21.5 million for the three months ended March 31, 2017 and 2016 , 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 March 31, 2017 and December 31, 2016 , we had aggregate IRLCs of $354.7 million and $273.9 million , respectively, which were originated at interest rates prevailing at the date of commitment. Since we can terminate a loan commitment if the borrower does not comply with the terms of the contract, and some loan commitments may expire without being drawn upon, these commitments do not necessarily represent future cash requirements. We evaluate the creditworthiness of these transactions through our normal credit policies. 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 investor commitments, which are obligations of an 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 extend an interest rate lock to a loan applicant until the time the loan is sold to an investor. At March 31, 2017 and December 31, 2016 , we had unexpired forward contracts of $555.0 million and $610.0 million , respectively, and whole loan investor commitments of $102.2 million and $157.6 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 IRLCs 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 investor commitments. We are generally not exposed to variability in cash flows of derivative instruments for more than approximately 90 days.
New accounting pronouncements	In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). 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 a number of updates to this standard. The standard is effective for us for annual and interim periods beginning January 1, 2018, and, at that time, we expect to apply the modified retrospective method of adoption. We continue to evaluate the impact that the standard will have 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 is effective for us for annual and interim periods beginning January 1, 2019 and early adoption is permitted. The standard 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, and was effective for us at January 1, 2017. Excess tax benefits or deficiencies for stock-based compensation are now reflected in the Consolidated Statements of Operations as a component of income tax expense, whereas previously they were recognized in equity. We have also elected to account for forfeitures as they occur, rather than estimate expected forfeitures. As a result of adopting ASU 2016-09, we applied the modified retrospective approach and recorded a cumulative-effect adjustment that increased our retained earnings and deferred tax assets as of January 1, 2017 by $18.6 million , respectively, as a result of previously unrecognized excess tax benefits (see Note 6 ). Additionally, the impact of recognizing excess tax benefits in the income statement resulted in a $2.8 million reduction in our income tax expense for the three months ended March 31, 2017. The remaining aspects of adopting ASU 2016-09 did not have a material impact 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. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), which addresses several specific cash flow issues. ASU 2016-15 is effective for us for annual and interim periods beginning January 1, 2018, with early adoption permitted, and requires full retrospective application on adoption. We do not expect ASU 2016-15 to have a material impact on our financial statements. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment" ("ASU 2017-04"), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 to have a material impact on our financial statements. In February 2017, the FASB issued ASU No. 2017-05, "Other Income - Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (Subtopic 610-20)" ("ASU 2017-05"). ASU 2017-05 updates the definition of an "in substance nonfinancial asset" and clarifies the derecognition guidance for nonfinancial assets to conform with the new revenue recognition standard. The effective date and transition methods of ASU 2017-05 are aligned with ASU 2014-09 described above. We are currently evaluating the impact that the standard will have on our financial statements.
Inventory interest capitalization	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	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, 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	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	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)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule of Other Expense (Income), Net	($000’s omitted): Three Months Ended March 31, 2017 2016 Write-off of deposits and pre-acquisition costs $ 1,655 $ 3,041 Amortization of intangible assets 3,450 3,450 Interest income (833 ) (923 ) Interest expense 137 174 Equity in earnings of unconsolidated entities (1,193 ) (170 ) Miscellaneous, net 806 302 Total other expense, net $ 4,022 $ 5,874
Schedule of Earnings Per Share	The following table presents the earnings per common share (000's omitted, except per share data): Three Months Ended March 31, 2017 2016 Numerator: Net income $ 91,518 $ 83,300 Less: earnings distributed to participating securities (305 ) (285 ) Less: undistributed earnings allocated to participating securities (618 ) (404 ) Numerator for basic earnings per share $ 90,595 $ 82,611 Add back: undistributed earnings allocated to participating securities 618 404 Less: undistributed earnings reallocated to participating securities (613 ) (401 ) Numerator for diluted earnings per share $ 90,600 $ 82,614 Denominator: Basic shares outstanding 317,756 347,815 Effect of dilutive securities 2,329 2,662 Diluted shares outstanding 320,085 350,477 Earnings per share: Basic $ 0.29 $ 0.24 Diluted $ 0.28 $ 0.24
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): March 31, 2017 December 31, 2016 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 12,638 $ 182 $ 9,194 $ 501 Forward contracts 323 3,292 8,085 1,004 Whole loan commitments 215 447 1,135 863 $ 13,176 $ 3,921 $ 18,414 $ 2,368

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Components of Inventory	Major components of inventory were as follows ($000’s omitted): March 31, December 31, Homes under construction $ 2,149,799 $ 1,921,259 Land under development 4,181,691 4,072,109 Raw land 696,845 777,287 $ 7,028,335 $ 6,770,655
Capitalized Interest Rollforward	Information related to interest capitalized into inventory is as follows ($000’s omitted): Three Months Ended March 31, 2017 2016 Interest in inventory, beginning of period $ 186,097 $ 149,498 Interest capitalized 44,923 35,284 Interest expensed (27,192 ) (26,129 ) Interest in inventory, end of period $ 203,828 $ 158,653
Schedule Of Company Interests In Land Option Agreements	The following provides a summary of our interests in land option agreements as of March 31, 2017 and December 31, 2016 ($000’s omitted): March 31, 2017 December 31, 2016 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 71,558 $ 842,784 $ 68,527 $ 849,901 Other land options 124,159 1,149,377 126,909 1,252,662 $ 195,717 $ 1,992,161 $ 195,436 $ 2,102,563

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Revenues: Northeast $ 108,582 $ 118,654 Southeast 328,764 294,426 Florida 314,197 269,841 Midwest 244,412 189,892 Texas 234,266 213,292 West 356,840 310,625 1,587,061 1,396,730 Financial Services 41,767 35,848 Consolidated revenues $ 1,628,828 $ 1,432,578 Income before income taxes: Northeast $ 4,400 $ 9,590 Southeast 32,366 19,770 Florida 44,523 40,302 Midwest 18,254 5,620 Texas 32,796 28,517 West 34,084 33,507 Other homebuilding (a) (40,661 ) (28,873 ) 125,762 108,433 Financial Services 13,503 9,780 Consolidated income before income taxes $ 139,265 $ 118,213 (a) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments.
Total Assets And Inventory By Reporting Segment	Operating Data by Segment ($000's omitted) March 31, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 210,725 $ 354,338 $ 136,534 $ 701,597 $ 804,319 Southeast 378,835 647,074 145,945 1,171,854 1,277,838 Florida 329,061 811,341 113,061 1,253,463 1,389,509 Midwest 314,479 447,268 64,595 826,342 893,002 Texas 247,286 411,947 69,345 728,578 816,230 West 637,449 1,268,496 143,165 2,049,110 2,273,198 Other homebuilding (a) 31,964 241,227 24,200 297,391 2,055,489 2,149,799 4,181,691 696,845 7,028,335 9,509,585 Financial Services — — — — 411,229 $ 2,149,799 $ 4,181,691 $ 696,845 $ 7,028,335 $ 9,920,814 December 31, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 175,253 $ 375,899 $ 135,447 $ 686,599 $ 798,369 Southeast 354,047 650,805 148,793 1,153,645 1,243,188 Florida 309,525 683,376 183,168 1,176,069 1,330,847 Midwest 256,649 474,287 50,302 781,238 851,457 Texas 219,606 413,312 74,750 707,668 793,917 West 580,082 1,226,190 159,387 1,965,659 2,200,058 Other homebuilding (a) 26,097 248,240 25,440 299,777 2,351,082 1,921,259 4,072,109 777,287 6,770,655 9,568,918 Financial Services — — — — 609,282 $ 1,921,259 $ 4,072,109 $ 777,287 $ 6,770,655 $ 10,178,200 (a) 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)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Senior Notes	Our senior notes are summarized as follows ($000’s omitted): March 31, December 31, 7.625% unsecured senior notes due October 2017 (a) 123,000 123,000 4.250% unsecured senior notes due March 2021 (b) 700,000 700,000 5.500% unsecured senior notes due March 2026 (b) 700,000 700,000 5.000% unsecured senior notes due January 2027 (b) 600,000 600,000 7.875% unsecured senior notes due June 2032 (b) 300,000 300,000 6.375% unsecured senior notes due May 2033 (b) 400,000 400,000 6.000% unsecured senior notes due February 2035 (b) 300,000 300,000 Net premiums, discounts, and issuance costs (c) (12,996 ) (12,984 ) Total senior notes $ 3,110,004 $ 3,110,016 Estimated fair value $ 3,206,575 $ 3,112,297 (a) Not redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (b) 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.

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 345,379 $ 539,496 Interest rate lock commitments Level 2 12,456 8,693 Forward contracts Level 2 (2,969 ) 7,081 Whole loan commitments Level 2 (232 ) 272 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ — $ 8,920 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 423,863 $ 723,248 Financial Services debt Level 2 140,381 331,621 Senior notes Level 2 3,206,575 3,112,297

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Liabilities, beginning of period $ 35,114 $ 46,381 Reserves provided (released), net 2 866 Payments — (154 ) Liabilities, end of period $ 35,116 $ 47,093
Summary of Changes in Warranty Liability	Changes to warranty liabilities were as follows ($000’s omitted): Three Months Ended March 31, 2017 2016 Warranty liabilities, beginning of period $ 66,134 $ 61,179 Reserves provided 10,643 12,319 Payments (12,099 ) (12,562 ) Other adjustments 3 — Warranty liabilities, end of period $ 64,681 $ 60,936
Summary of Changes in Self-Insurance Liability	Changes in these liabilities were as follows ($000's omitted): Three Months Ended March 31, 2017 2016 Balance, beginning of period $ 831,058 $ 924,563 Reserves provided, net 17,735 19,751 Payments, net (a) (13,467 ) (21,929 ) Balance, end of period $ 835,326 $ 922,385

Supplemental Guarantor Inform23

Supplemental Guarantor Information (Tables)	3 Months Ended
	Mar. 31, 2017
Supplemental Guarantor Information [Abstract]
Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET MARCH 31, 2017 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 327,047 $ 70,711 $ — $ 397,758 Restricted cash — 25,055 1,050 — 26,105 Total cash, cash equivalents, and — 352,102 71,761 — 423,863 House and land inventory — 6,955,235 73,100 — 7,028,335 Land held for sale — 48,053 510 — 48,563 Residential mortgage loans available- — — 345,379 — 345,379 Investments in unconsolidated entities 112 59,803 5,378 — 65,293 Other assets 11,509 697,869 120,247 — 829,625 Intangible assets — 151,342 — — 151,342 Deferred tax assets, net 1,030,351 — (1,937 ) — 1,028,414 Investments in subsidiaries and 6,849,655 (331,013 ) 6,991,618 (13,510,260 ) — $ 7,891,627 $ 7,933,391 $ 7,606,056 $ (13,510,260 ) $ 9,920,814 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 79,537 $ 1,703,179 $ 185,627 $ — $ 1,968,343 Income tax liabilities 41,941 — — — 41,941 Financial Services debt — — 140,381 — 140,381 Senior notes 3,110,004 — — — 3,110,004 Total liabilities 3,231,482 1,703,179 326,008 — 5,260,669 Total shareholders’ equity 4,660,145 6,230,212 7,280,048 (13,510,260 ) 4,660,145 $ 7,891,627 $ 7,933,391 $ 7,606,056 $ (13,510,260 ) $ 9,920,814 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2016 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 588,353 $ 110,529 $ — $ 698,882 Restricted cash — 22,832 1,534 — 24,366 Total cash, cash equivalents, and — 611,185 112,063 — 723,248 House and land inventory — 6,707,392 63,263 — 6,770,655 Land held for sale — 31,218 510 — 31,728 Residential mortgage loans available- — — 539,496 — 539,496 Investments in unconsolidated entities 105 46,248 5,094 — 51,447 Other assets 12,364 716,923 128,139 — 857,426 Intangible assets — 154,792 — — 154,792 Deferred tax assets, net 1,051,351 — (1,943 ) — 1,049,408 Investments in subsidiaries and 6,835,075 (376,748 ) 6,845,781 (13,304,108 ) — $ 7,898,895 $ 7,891,010 $ 7,692,403 $ (13,304,108 ) $ 10,178,200 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 94,656 $ 1,755,756 $ 191,928 $ — $ 2,042,340 Income tax liabilities 34,860 — — — 34,860 Financial Services debt — — 331,621 — 331,621 Senior notes 3,110,016 — — — 3,110,016 Total liabilities 3,239,532 1,755,756 523,549 — 5,518,837 Total shareholders’ equity 4,659,363 6,135,254 7,168,854 (13,304,108 ) 4,659,363 $ 7,898,895 $ 7,891,010 $ 7,692,403 $ (13,304,108 ) $ 10,178,200
Consolidating Statement of Operations and Comprehensive Income (Loss)	CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,576,645 $ 8,776 $ — $ 1,585,421 Land sale revenues — 867 773 — 1,640 — 1,577,512 9,549 — 1,587,061 Financial Services — — 41,767 — 41,767 — 1,577,512 51,316 — 1,628,828 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,209,640 ) (8,038 ) — (1,217,678 ) Land sale cost of revenues — (2,595 ) (633 ) — (3,228 ) — (1,212,235 ) (8,671 ) — (1,220,906 ) Financial Services expenses — (139 ) (28,228 ) — (28,367 ) Selling, general, and administrative — (217,975 ) (18,293 ) — (236,268 ) Other expense, net (130 ) (11,843 ) 7,951 — (4,022 ) Intercompany interest (335 ) — 335 — — Income (loss) before income taxes and (465 ) 135,320 4,410 — 139,265 Income tax (expense) benefit 177 (45,925 ) (1,999 ) — (47,747 ) Income (loss) before equity in income (288 ) 89,395 2,411 — 91,518 Equity in income (loss) of subsidiaries 91,806 7,253 37,309 (136,368 ) — Net income (loss) 91,518 96,648 39,720 (136,368 ) 91,518 Other comprehensive income 21 — — — 21 Comprehensive income (loss) $ 91,539 $ 96,648 $ 39,720 $ (136,368 ) $ 91,539 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended March 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,393,259 $ 984 $ — $ 1,394,243 Land sale revenues — 2,010 477 — 2,487 — 1,395,269 1,461 — 1,396,730 Financial Services — — 35,848 — 35,848 — 1,395,269 37,309 — 1,432,578 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,035,864 ) (2,164 ) — (1,038,028 ) Land sale cost of revenues — (1,643 ) (385 ) — (2,028 ) — (1,037,507 ) (2,549 ) — (1,040,056 ) Financial Services expenses — (123 ) (25,996 ) — (26,119 ) Selling, general, and administrative — (238,882 ) (3,434 ) — (242,316 ) Other expense, net (170 ) (9,676 ) 3,972 — (5,874 ) Intercompany interest (510 ) (2,184 ) 2,694 — — Income (loss) before income taxes and (680 ) 106,897 11,996 — 118,213 Income tax (expense) benefit 263 (30,568 ) (4,608 ) — (34,913 ) Income (loss) before equity in income (417 ) 76,329 7,388 — 83,300 Equity in income (loss) of subsidiaries 83,717 7,010 111,918 (202,645 ) — Net income (loss) 83,300 83,339 119,306 (202,645 ) 83,300 Other comprehensive income 21 — — — 21 Comprehensive income (loss) $ 83,321 $ 83,339 $ 119,306 $ (202,645 ) $ 83,321
Consolidating Statement Of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ (141,566 ) $ (8,041 ) $ 189,410 $ — $ 39,803 Cash flows from investing activities: Capital expenditures — (8,442 ) (1,554 ) — (9,996 ) Investment in unconsolidated subsidiaries — (14,802 ) — — (14,802 ) Other investing activities, net — 2 1,421 — 1,423 Net cash provided by (used in) — (23,242 ) (133 ) — (23,375 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (191,240 ) — (191,240 ) Proceeds from debt issuance — — — — — Repayments of debt — (741 ) (326 ) — (1,067 ) Borrowings under revolving credit facility — — — — — Repayments under revolving credit facility — — — — — Stock option exercises 11,118 — — — 11,118 Share repurchases (105,522 ) — — — (105,522 ) Dividends paid (29,102 ) — — — (29,102 ) Intercompany activities, net 265,072 (227,059 ) (38,013 ) — — Net cash provided by (used in) 141,566 (227,800 ) (229,579 ) — (315,813 ) Net increase (decrease) — (259,083 ) (40,302 ) — (299,385 ) Cash, cash equivalents, and restricted cash — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash $ — $ 352,102 $ 71,761 $ — $ 423,863 CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 41,058 $ (254,849 ) $ 150,874 $ — $ (62,917 ) Cash flows from investing activities: Capital expenditures — (8,918 ) (542 ) — (9,460 ) Cash used for business acquisition — (430,011 ) — — (430,011 ) Investment in unconsolidated subsidiaries (3 ) (13,531 ) — — (13,534 ) Other investing activities, net — 800 453 — 1,253 Net cash provided by (used in) investing (3 ) (451,660 ) (89 ) — (451,752 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (149,263 ) — (149,263 ) Proceeds from debt issuance 991,575 — — — 991,575 Repayments of debt — (702 ) — — (702 ) Borrowings under revolving credit facility 220,000 — — — 220,000 Repayments under revolving credit facility (220,000 ) — — — (220,000 ) Stock option exercises 52 — — — 52 Share repurchases (52,745 ) — — — (52,745 ) Dividends paid (31,568 ) — — — (31,568 ) Intercompany activities, net (948,369 ) 1,007,002 (58,633 ) — — Net cash provided by (used in) (41,055 ) 1,006,300 (207,896 ) — 757,349 Net increase (decrease) — 299,791 (57,111 ) — 242,680 Cash, cash equivalents, and restricted cash — 658,876 116,559 — 775,435 Cash, cash equivalents, and restricted cash $ — $ 958,667 $ 59,448 $ — $ 1,018,115

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2016USD ($)homelot	Mar. 31, 2017USD ($)shares	Mar. 31, 2016USD ($)shares	Dec. 31, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
Cash paid to acquire business		$ 0	$ 430,011
Antidilutive securities excluded from computation of earnings per share (shares) | shares		0.1	2.3
Residential mortgage loans available-for-sale fair value		$ 345,379		$ 539,496
Residential mortgage loans available-for-sale aggregate outstanding principal balance		332,900		529,700
Net gain (loss) from change in fair value		(2,000)	$ 1,000
Net gains from the sale of mortgages		$ 25,300	$ 21,500
Variability in future cash flows of derivative instruments in days		90 days
Income statement impact ASU 2016-09 adoption		2.8
Interest rate lock commitments
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		$ 354,700		273,900
Forward contracts
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		555,000		610,000
Whole loan commitments
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		$ 102,200		157,600
JW Homes (Wieland)
Finite-Lived Intangible Assets [Line Items]
Cash paid to acquire business	$ 430,500
Number of units in real estate property | lot	7,000
Goodwill	$ 40,400
In Inventory | JW Homes (Wieland)
Finite-Lived Intangible Assets [Line Items]
Number of units in real estate property | home	375
Land Option Contracts | JW Homes (Wieland)
Finite-Lived Intangible Assets [Line Items]
Number of units in real estate property | lot	1,300
Sales Order Backlog | JW Homes (Wieland)
Finite-Lived Intangible Assets [Line Items]
Number of units in real estate property | home	317
Trade Names | JW Homes (Wieland)
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 18,000
Remaining amortization period	20 years
New Accounting Pronouncement, Early Adoption, Effect [Member] | Retained Earnings | Accounting Standards Update 2016-09, Excess Tax Benefit Component [Member]
Finite-Lived Intangible Assets [Line Items]
Cumulative effect of new accounting principle in period of adoption				18,600
Deferred income tax assets, net				$ 18,600

Basis of Presentation (Other Ex

Basis of Presentation (Other Expense (Income), Net) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Write-off of deposits and pre-acquisition costs	$ 1,655	$ 3,041
Amortization of intangible assets	3,450	3,450
Interest income	(833)	(923)
Interest expense	137	174
Equity in earnings of unconsolidated entities	(1,193)	(170)
Miscellaneous, net	806	302
Other expense (income), net	$ 4,022	$ 5,874

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
	Mar. 31, 2017	Mar. 31, 2016
Numerator:
Net income	$ 91,518	$ 83,300
Less: earnings distributed to participating securities	(305)	(285)
Less: undistributed earnings allocated to participating securities	(618)	(404)
Numerator for basic earnings per share	90,595	82,611
Add back: undistributed earnings allocated to participating securities	618	404
Less: undistributed earnings reallocated to participating securities	(613)	(401)
Numerator for diluted earnings per share	$ 90,600	$ 82,614
Denominator:
Basic shares outstanding (shares)	317,756	347,815
Effect of dilutive securities (shares)	2,329	2,662
Diluted shares outstanding (shares)	320,085	350,477
Earnings per share:
Basic earnings (usd per share)	$ 0.29	$ 0.24
Diluted earnings (usd per share)	$ 0.28	$ 0.24

Basis of Presentation (Fair Val

Basis of Presentation (Fair Value Of the Company's Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	$ 13,176	$ 18,414
Accrued and Other Liabilities	3,921	2,368
Interest rate lock commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	12,638	9,194
Accrued and Other Liabilities	182	501
Forward contracts
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	323	8,085
Accrued and Other Liabilities	3,292	1,004
Whole loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	215	1,135
Accrued and Other Liabilities	$ 447	$ 863

Inventory (Major Components Of

Inventory (Major Components Of Inventory) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Homes under construction	$ 2,149,799	$ 1,921,259
Land under development	4,181,691	4,072,109
Raw land	696,845	777,287
Total Inventory	$ 7,028,335	$ 6,770,655

Inventory (Information Related

Inventory (Information Related To Interest Capitalized Into Homebuilding Inventory) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest in inventory, beginning of period	$ 186,097	$ 149,498
Interest capitalized	44,923	35,284
Interest expensed	(27,192)	(26,129)
Interest in inventory, end of period	$ 203,828	$ 158,653

Inventory (Summary of Interests

Inventory (Summary of Interests in Land Option Agreements) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	$ 195,717	$ 195,436
Remaining Purchase Price	1,992,161	2,102,563
Land options with VIEs
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	71,558	68,527
Remaining Purchase Price	842,784	849,901
Other Land Option Agreements Member
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	124,159	126,909
Remaining Purchase Price	$ 1,149,377	$ 1,252,662

Segment Information Narrative (

Segment Information Narrative (Details)	3 Months Ended
	Mar. 31, 2017segment
Segment Reporting [Abstract]
Number of reportable segments	6

Segment Information (Operating

Segment Information (Operating Data By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Homebuilding	$ 1,587,061	$ 1,396,730
Financial Services	41,767	35,848
Consolidated revenues	1,628,828	1,432,578
Income before Income Taxes:
Income before income taxes	139,265	118,213
Northeast
Revenues:
Homebuilding	108,582	118,654
Income before Income Taxes:
Income before income taxes	4,400	9,590
Southeast
Revenues:
Homebuilding	328,764	294,426
Income before Income Taxes:
Income before income taxes	32,366	19,770
Florida
Revenues:
Homebuilding	314,197	269,841
Income before Income Taxes:
Income before income taxes	44,523	40,302
Midwest
Revenues:
Homebuilding	244,412	189,892
Income before Income Taxes:
Income before income taxes	18,254	5,620
Texas
Revenues:
Homebuilding	234,266	213,292
Income before Income Taxes:
Income before income taxes	32,796	28,517
West
Revenues:
Homebuilding	356,840	310,625
Income before Income Taxes:
Income before income taxes	34,084	33,507
Other homebuilding
Income before Income Taxes:
Income before income taxes	(40,661)	(28,873)
Homebuilding
Income before Income Taxes:
Income before income taxes	125,762	108,433
Financial Services
Income before Income Taxes:
Income before income taxes	$ 13,503	$ 9,780

Segment Information (Total Asse

Segment Information (Total Assets And Inventory By Reportable Segment) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Segment Reporting Information
Homes under construction	$ 2,149,799	$ 1,921,259
Land under development	4,181,691	4,072,109
Raw land	696,845	777,287
Total Inventory	7,028,335	6,770,655
Total Assets	9,920,814	10,178,200
Northeast
Segment Reporting Information
Homes under construction	210,725	175,253
Land under development	354,338	375,899
Raw land	136,534	135,447
Total Inventory	701,597	686,599
Total Assets	804,319	798,369
Southeast
Segment Reporting Information
Homes under construction	378,835	354,047
Land under development	647,074	650,805
Raw land	145,945	148,793
Total Inventory	1,171,854	1,153,645
Total Assets	1,277,838	1,243,188
Florida
Segment Reporting Information
Homes under construction	329,061	309,525
Land under development	811,341	683,376
Raw land	113,061	183,168
Total Inventory	1,253,463	1,176,069
Total Assets	1,389,509	1,330,847
Midwest
Segment Reporting Information
Homes under construction	314,479	256,649
Land under development	447,268	474,287
Raw land	64,595	50,302
Total Inventory	826,342	781,238
Total Assets	893,002	851,457
Texas
Segment Reporting Information
Homes under construction	247,286	219,606
Land under development	411,947	413,312
Raw land	69,345	74,750
Total Inventory	728,578	707,668
Total Assets	816,230	793,917
West
Segment Reporting Information
Homes under construction	637,449	580,082
Land under development	1,268,496	1,226,190
Raw land	143,165	159,387
Total Inventory	2,049,110	1,965,659
Total Assets	2,273,198	2,200,058
Other homebuilding
Segment Reporting Information
Homes under construction	31,964	26,097
Land under development	241,227	248,240
Raw land	24,200	25,440
Total Inventory	297,391	299,777
Total Assets	2,055,489	2,351,082
Homebuilding
Segment Reporting Information
Homes under construction	2,149,799	1,921,259
Land under development	4,181,691	4,072,109
Raw land	696,845	777,287
Total Inventory	7,028,335	6,770,655
Total Assets	9,509,585	9,568,918
Financial Services
Segment Reporting Information
Homes under construction	0	0
Land under development	0	0
Raw land	0	0
Total Inventory	0	0
Total Assets	$ 411,229	$ 609,282

Debt (Summary of Senior Notes)

Debt (Summary of Senior Notes) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Feb. 29, 2016
Debt Instrument [Line Items]
Net premiums, discounts, and issuance costs	$ (12,996,000)	$ (12,984,000)
Senior notes	3,110,004,000	3,110,016,000
Estimated fair value	$ 3,206,575,000	$ 3,112,297,000
7.625% unsecured senior notes due October 2017 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	7.625%	7.625%
Face amount	$ 123,000,000	$ 123,000,000
4.250% unsecured senior notes due March 2021 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.25%	4.25%	4.25%
Face amount	$ 700,000,000	$ 700,000,000	$ 300,000,000
5.500% unsecured senior notes due March 2026 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.50%	5.50%
Face amount	$ 700,000,000	$ 700,000,000
5.000% unsecured senior notes due January 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.00%	5.00%
Face amount	$ 600,000,000	$ 600,000,000
7.875% unsecured senior notes due June 2032 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	7.875%	7.875%
Face amount	$ 300,000,000	$ 300,000,000
6.375% unsecured senior notes due May 2033 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.375%	6.375%
Face amount	$ 400,000,000	$ 400,000,000
6.000% unsecured senior notes due February 2035 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.00%	6.00%
Face amount	$ 300,000,000	$ 300,000,000

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Feb. 29, 2016
Debt Instrument [Line Items]
Joint venture debt with limited recourse guaranties	$ 52,500,000
Letters of credit outstanding	226,900,000	$ 219,100,000
Notes payable	$ 20,000,000	19,300,000
Debt instrument term	4 years
Amount outstanding	$ 140,381,000	331,621,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	750,000,000
Maximum additional issuance	375,000,000
Fair value of amount outstanding	0	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	200,000,000
Amount outstanding	$ 140,400,000	331,600,000
Maximum
Debt Instrument [Line Items]
Stated interest rate	5.00%
Minimum | Repurchase Agreement | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 175,000,000
Senior Notes | Senior Unsecured Notes February 2016
Debt Instrument [Line Items]
Face amount			$ 1,000,000,000
Senior Notes | 4.250% unsecured senior notes due March 2021
Debt Instrument [Line Items]
Face amount	$ 700,000,000	$ 700,000,000	$ 300,000,000
Stated interest rate	4.25%	4.25%	4.25%
Senior Notes | 5.500% unsecured senior notes due March 2026
Debt Instrument [Line Items]
Face amount	$ 700,000,000	$ 700,000,000
Stated interest rate	5.50%	5.50%
Senior Notes | 5.000% unsecured senior notes due January 2027
Debt Instrument [Line Items]
Face amount	$ 600,000,000	$ 600,000,000
Stated interest rate	5.00%	5.00%
Unconsolidated Joint Ventures [Member]
Debt Instrument [Line Items]
Equity method investment, ownership percentage	50.00%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Class of Stock [Line Items]
Dividends	$ 28,838	$ 31,459
Payments for repurchase of common stock	$ 105,522	$ 52,745
Share repurchase plan
Class of Stock [Line Items]
Share repurchases (shares)	4.7	3.1
Payments for repurchase of common stock	$ 100,000	$ 50,000
Remaining value of stock repurchase programs authorization	904,800
Shares withheld to pay taxes
Class of Stock [Line Items]
Payments for repurchase of common stock	$ 5,500	$ 2,700

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective income tax	(34.30%)	(29.50%)
Deferred tax assets, net	$ 1,028,414		$ 1,049,408
Gross unrecognized tax benefits	20,700		21,502
Accrued interest and penalties on unrecognized tax benefits	11,800		12,200
Possible decrease in unrecognized tax benefits	$ 17,300
New Accounting Pronouncement, Early Adoption, Effect [Member] | Retained Earnings | Accounting Standards Update 2016-09, Excess Tax Benefit Component [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income tax assets, net			$ 18,600

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Disclosed at fair value:
Senior notes	$ 3,206,575	$ 3,112,297
Level 2
Disclosed at fair value:
Financial Services debt	140,381	331,621
Level 1
Disclosed at fair value:
Cash and equivalents (including restricted cash)	423,863	723,248
Fair Value, Measurements, Nonrecurring | Level 3
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure, Nonrecurring	0	8,920
Interest rate lock commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring	12,456	8,693
Forward contracts | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring		7,081
Liabilities, Fair Value Disclosure, Recurring	(2,969)
Whole loan commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring		272
Liabilities, Fair Value Disclosure, Recurring	(232)
Residential Mortgage | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring	$ 345,379	$ 539,496

Fair Value Disclosures Narrativ

Fair Value Disclosures Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Senior notes	$ 3,110,004	$ 3,110,016

Commitments and Contingencies40

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 226,900	$ 219,100
Surety bonds outstanding	$ 1,100,000	1,100,000
Maximum product warranty in years	10 years
Self-insurance liabilities	$ 835,300	831,058	$ 922,385	$ 924,563
Incurred but not reported percentage of liability reserves	70.00%
Write-off of insurance receivables	15
litigation of recorded insurance receivable	$ 99,300
Other Assets
Loss Contingencies [Line Items]
Recorded insurance receivables	$ 291,800	$ 307,300

Commitments and Contingencies41

Commitments and Contingencies (Changes To Anticipated Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Loss Contingency Accrual [Roll Forward]
Liabilities, beginning of period	$ 35,114	$ 46,381
Reserves provided (released), net	2	866
Payments	0	(154)
Liabilities, end of period	$ 35,116	$ 47,093

Commitments and Contingencies42

Commitments and Contingencies (Changes To Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liabilities, beginning of period	$ 66,134	$ 61,179
Reserves provided	10,643	12,319
Payments	(12,099)	(12,562)
Other adjustments	3	0
Warranty liabilities, end of period	$ 64,681	$ 60,936

Commitments and Contingencies43

Commitments and Contingencies (Changes in Self-insurance Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Write-off of insurance receivables	15
Changes in Self-insurance Liability [Roll Forward]
Balance, beginning of period	$ 831,058	$ 924,563
Reserves provided, net	17,735	19,751
Payments, net (a)	(13,467)	(21,929)
Balance, end of period	$ 835,300	$ 922,385

Supplemental Guarantor Inform44

Supplemental Guarantor Information (Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and equivalents	$ 397,758	$ 698,882	$ 1,018,115
Restricted cash	26,105	24,366
House and land inventory	7,028,335	6,770,655
Land held for sale	48,563	31,728
Residential mortgage loans available-for-sale	345,379	539,496
Investments in unconsolidated entities	65,293	51,447
Other assets	829,625	857,426
Intangible assets	151,342	154,792
Deferred tax assets, net	1,028,414	1,049,408
Investments in subsidiaries and intercompany accounts, net	0	0
Total assets	9,920,814	10,178,200
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,968,343	2,042,340
Income tax liabilities	41,941	34,860
Financial Services debt	140,381	331,621
Senior notes	3,110,004	3,110,016
Total liabilities	5,260,669	5,518,837
Total shareholders' equity	4,660,145	4,659,363	4,773,527	$ 4,759,325
Total liabilities and shareholders' equity	9,920,814	10,178,200
PulteGroup, Inc.
ASSETS
Cash and equivalents	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	112	105
Other assets	11,509	12,364
Intangible assets	0	0
Deferred tax assets, net	1,030,351	1,051,351
Investments in subsidiaries and intercompany accounts, net	6,849,655	6,835,075
Total assets	7,891,627	7,898,895
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	79,537	94,656
Income tax liabilities	41,941	34,860
Financial Services debt	0	0
Senior notes	3,110,004	3,110,016
Total liabilities	3,231,482	3,239,532
Total shareholders' equity	4,660,145	4,659,363
Total liabilities and shareholders' equity	7,891,627	7,898,895
Guarantor Subsidiaries
ASSETS
Cash and equivalents	327,047	588,353	958,667
Restricted cash	25,055	22,832
House and land inventory	6,955,235	6,707,392
Land held for sale	48,053	31,218
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	59,803	46,248
Other assets	697,869	716,923
Intangible assets	151,342	154,792
Deferred tax assets, net	0	0
Investments in subsidiaries and intercompany accounts, net	(331,013)	(376,748)
Total assets	7,933,391	7,891,010
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,703,179	1,755,756
Income tax liabilities	0	0
Financial Services debt	0	0
Senior notes	0	0
Total liabilities	1,703,179	1,755,756
Total shareholders' equity	6,230,212	6,135,254
Total liabilities and shareholders' equity	7,933,391	7,891,010
Non-Guarantor Subsidiaries
ASSETS
Cash and equivalents	70,711	110,529	59,448
Restricted cash	1,050	1,534
House and land inventory	73,100	63,263
Land held for sale	510	510
Residential mortgage loans available-for-sale	345,379	539,496
Investments in unconsolidated entities	5,378	5,094
Other assets	120,247	128,139
Intangible assets	0	0
Deferred tax assets, net	(1,937)	(1,943)
Investments in subsidiaries and intercompany accounts, net	6,991,618	6,845,781
Total assets	7,606,056	7,692,403
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	185,627	191,928
Income tax liabilities	0	0
Financial Services debt	140,381	331,621
Senior notes	0	0
Total liabilities	326,008	523,549
Total shareholders' equity	7,280,048	7,168,854
Total liabilities and shareholders' equity	7,606,056	7,692,403
Eliminating Entries
ASSETS
Cash and equivalents	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	(13,510,260)	(13,304,108)
Total assets	(13,510,260)	(13,304,108)
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	0	0
Income tax liabilities	0	0
Financial Services debt	0	0
Senior notes	0	0
Total liabilities	0	0
Total shareholders' equity	(13,510,260)	(13,304,108)
Total liabilities and shareholders' equity	$ (13,510,260)	$ (13,304,108)

Supplemental Guarantor Inform45

Supplemental Guarantor Information (Statement of Operations and Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Homebuilding
Home sale revenues	$ 1,585,421	$ 1,394,243
Land sale revenues	1,640	2,487
Total homebuilding revenues	1,587,061	1,396,730
Financial Services	41,767	35,848
Consolidated revenues	1,628,828	1,432,578
Homebuilding Cost of Revenues:
Home sale cost of revenues	(1,217,678)	(1,038,028)
Land sale cost of revenues	(3,228)	(2,028)
Total cost of revenues	(1,220,906)	(1,040,056)
Financial Services expenses	(28,367)	(26,119)
Selling, general, and administrative expenses	(236,268)	(242,316)
Other expense, net	4,022	5,874
Intercompany interest	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	139,265	118,213
Income tax (expense) benefit	(47,747)	(34,913)
Income (loss) before equity in income (loss) of subsidiaries	91,518	83,300
Equity in income (loss) of subsidiaries	0	0
Net income	91,518	83,300
Other comprehensive income	21	21
Comprehensive income (loss)	91,539	83,321
PulteGroup, Inc.
Homebuilding
Home sale revenues	0	0
Land sale revenues	0	0
Total homebuilding revenues	0	0
Financial Services	0	0
Consolidated revenues	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues	0	0
Land sale cost of revenues	0	0
Total cost of revenues	0	0
Financial Services expenses	0	0
Selling, general, and administrative expenses	0	0
Other expense, net	(130)	(170)
Intercompany interest	(335)	(510)
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(465)	(680)
Income tax (expense) benefit	177	263
Income (loss) before equity in income (loss) of subsidiaries	(288)	(417)
Equity in income (loss) of subsidiaries	91,806	83,717
Net income	91,518	83,300
Other comprehensive income	21	21
Comprehensive income (loss)	91,539	83,321
Guarantor Subsidiaries
Homebuilding
Home sale revenues	1,576,645	1,393,259
Land sale revenues	867	2,010
Total homebuilding revenues	1,577,512	1,395,269
Financial Services	0	0
Consolidated revenues	1,577,512	1,395,269
Homebuilding Cost of Revenues:
Home sale cost of revenues	1,209,640	(1,035,864)
Land sale cost of revenues	2,595	(1,643)
Total cost of revenues	1,212,235	(1,037,507)
Financial Services expenses	139	(123)
Selling, general, and administrative expenses	217,975	(238,882)
Other expense, net	(11,843)	(9,676)
Intercompany interest	0	(2,184)
Income (loss) before income taxes and equity in income (loss) of subsidiaries	135,320	106,897
Income tax (expense) benefit	(45,925)	(30,568)
Income (loss) before equity in income (loss) of subsidiaries	89,395	76,329
Equity in income (loss) of subsidiaries	7,253	7,010
Net income	96,648	83,339
Other comprehensive income	0	0
Comprehensive income (loss)	96,648	83,339
Non-Guarantor Subsidiaries
Homebuilding
Home sale revenues	8,776	984
Land sale revenues	773	477
Total homebuilding revenues	9,549	1,461
Financial Services	41,767	35,848
Consolidated revenues	51,316	37,309
Homebuilding Cost of Revenues:
Home sale cost of revenues	8,038	(2,164)
Land sale cost of revenues	633	(385)
Total cost of revenues	8,671	(2,549)
Financial Services expenses	28,228	(25,996)
Selling, general, and administrative expenses	18,293	(3,434)
Other expense, net	7,951	3,972
Intercompany interest	335	2,694
Income (loss) before income taxes and equity in income (loss) of subsidiaries	4,410	11,996
Income tax (expense) benefit	(1,999)	(4,608)
Income (loss) before equity in income (loss) of subsidiaries	2,411	7,388
Equity in income (loss) of subsidiaries	37,309	111,918
Net income	39,720	119,306
Other comprehensive income	0	0
Comprehensive income (loss)	39,720	119,306
Eliminating Entries
Homebuilding
Home sale revenues	0	0
Land sale revenues	0	0
Total homebuilding revenues	0	0
Financial Services	0	0
Consolidated revenues	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues	0	0
Land sale cost of revenues	0	0
Total cost of revenues	0	0
Financial Services expenses	0	0
Selling, general, and administrative expenses	0	0
Other expense, net	0	0
Intercompany interest	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	0	0
Income tax (expense) benefit	0	0
Income (loss) before equity in income (loss) of subsidiaries	0	0
Equity in income (loss) of subsidiaries	(136,368)	(202,645)
Net income	(136,368)	(202,645)
Other comprehensive income	0	0
Comprehensive income (loss)	$ (136,368)	$ (202,645)

Supplemental Guarantor Inform46

Supplemental Guarantor Information (Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents	$ 423,863	$ 1,018,115	$ 723,248	$ 775,435
Net cash provided by (used in) operating activities	39,803	(62,917)
Cash flows from investing activities:
Capital expenditures	(9,996)	(9,460)
Investment in unconsolidated subsidiaries	(14,802)	(13,534)
Cash used for business acquisition	0	(430,011)
Other investing activities, net	1,423	1,253
Net cash used in investing activities	(23,375)	(451,752)
Cash flows from financing activities:
Proceeds from debt issuance	0	991,575
Repayments of debt	(1,067)	(702)
Borrowings under revolving credit facility	0	220,000
Repayments under revolving credit facility	0	(220,000)
Financial Services borrowings (repayments)	(191,240)	(149,263)
Stock option exercises	11,118	52
Share repurchases	(105,522)	(52,745)
Dividends paid	(29,102)	(31,568)
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	(315,813)	757,349
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(299,385)	242,680
Cash and equivalents at beginning of period	698,882
PulteGroup, Inc.
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents	0		0	0
Net cash provided by (used in) operating activities	(141,566)	41,058
Cash flows from investing activities:
Capital expenditures	0	0
Investment in unconsolidated subsidiaries	0	(3)
Cash used for business acquisition		0
Other investing activities, net	0	0
Net cash used in investing activities	0	(3)
Cash flows from financing activities:
Proceeds from debt issuance	0	991,575
Repayments of debt	0	0
Borrowings under revolving credit facility	0	220,000
Repayments under revolving credit facility	0	(220,000)
Financial Services borrowings (repayments)	0	0
Stock option exercises	11,118	52
Share repurchases	(105,522)	(52,745)
Dividends paid	(29,102)	(31,568)
Intercompany activities, net	265,072	(948,369)
Net cash provided by (used in) financing activities	141,566	(41,055)
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	0	0
Cash and equivalents at beginning of period	0
Guarantor Subsidiaries
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents	352,102		611,185	658,876
Net cash provided by (used in) operating activities	(8,041)	(254,849)
Cash flows from investing activities:
Capital expenditures	(8,442)	(8,918)
Investment in unconsolidated subsidiaries	(14,802)	(13,531)
Cash used for business acquisition		(430,011)
Other investing activities, net	2	800
Net cash used in investing activities	(23,242)	(451,660)
Cash flows from financing activities:
Proceeds from debt issuance	0	0
Repayments of debt	(741)	(702)
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Financial Services borrowings (repayments)	0	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	(227,059)	1,007,002
Net cash provided by (used in) financing activities	(227,800)	1,006,300
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(259,083)	299,791
Cash and equivalents at beginning of period	588,353
Non-Guarantor Subsidiaries
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents	71,761		112,063	116,559
Net cash provided by (used in) operating activities	189,410	150,874
Cash flows from investing activities:
Capital expenditures	(1,554)	(542)
Investment in unconsolidated subsidiaries	0	0
Cash used for business acquisition		0
Other investing activities, net	1,421	453
Net cash used in investing activities	(133)	(89)
Cash flows from financing activities:
Proceeds from debt issuance	0	0
Repayments of debt	(326)	0
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Financial Services borrowings (repayments)	(191,240)	(149,263)
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	(38,013)	(58,633)
Net cash provided by (used in) financing activities	(229,579)	(207,896)
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(40,302)	(57,111)
Cash and equivalents at beginning of period	110,529
Eliminating Entries
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents	0		$ 0	$ 0
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Investment in unconsolidated subsidiaries	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	0
Repayments of debt	0	0
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	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
Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	0	$ 0
Cash and equivalents at beginning of period	$ 0