PulteGroup (PHM) 10-Q 24 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2017	Oct. 19, 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	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		293,967,648

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and equivalents	$ 158,237	$ 698,882
Restricted cash	38,860	24,366
Total cash, cash equivalents, and restricted cash	197,097	723,248
House and land inventory	7,370,152	6,770,655
Land held for sale	96,149	31,728
Residential mortgage loans available-for-sale	364,734	539,496
Investments in unconsolidated entities	61,497	51,447
Other assets	797,439	857,426
Intangible assets	144,442	154,792
Deferred tax assets, net	939,759	1,049,408
Total assets	9,971,269	10,178,200
Liabilities:
Accounts payable	441,481	405,455
Customer deposits	306,641	187,891
Accrued and other liabilities	1,439,254	1,483,854
Financial Services debt	245,824	331,621
Revolving credit facility	83,000	0
Senior notes	3,109,984	3,110,016
Total liabilities	5,626,184	5,518,837
Shareholders' equity	4,345,085	4,659,363
Total liabilities and shareholders' equity	$ 9,971,269	$ 10,178,200

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Homebuilding
Home sale revenues	$ 2,055,891	$ 1,881,718	$ 5,606,953	$ 5,027,843
Land sale revenues	27,176	13,167	36,746	20,604
Total homebuilding revenues	2,083,067	1,894,885	5,643,699	5,048,447
Financial Services	46,952	48,020	135,995	126,950
Consolidated revenues	2,130,019	1,942,905	5,779,694	5,175,397
Homebuilding Cost of Revenues:
Home sale cost of revenues	(1,564,605)	(1,417,705)	(4,332,221)	(3,766,302)
Land sale cost of revenues	(25,123)	(11,428)	(115,950)	(17,859)
Total cost of revenues	(1,589,728)	(1,429,133)	(4,448,171)	(3,784,161)
Financial Services expenses	(29,304)	(26,906)	(86,150)	(79,204)
Selling, general, and administrative expenses	(237,495)	(250,914)	(689,974)	(749,502)
Other expense, net	(5,243)	(23,617)	(25,337)	(42,402)
Income before income taxes	268,249	212,335	530,062	520,128
Income tax expense	(90,710)	(83,865)	(160,255)	(190,598)
Net income	$ 177,539	$ 128,470	$ 369,807	$ 329,530
Per share:
Basic earnings (usd per share)	$ 0.59	$ 0.37	$ 1.18	$ 0.95
Diluted earnings (usd per share)	0.58	0.37	1.18	0.94
Cash dividends declared (usd per share)	$ 0.09	$ 0.09	$ 0.27	$ 0.27
Number of shares used in calculation:
Basic shares outstanding (shares)	298,538	340,171	309,453	344,383
Effect of dilutive securities (shares)	1,690	2,250	1,861	2,557
Diluted shares outstanding (shares)	300,228	342,421	311,314	346,940

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 177,539	$ 128,470	$ 369,807	$ 329,530
Other comprehensive income, net of tax:
Change in value of derivatives	20	20	61	61
Other comprehensive income	20	20	61	61
Comprehensive income	$ 177,559	$ 128,490	$ 369,868	$ 329,591

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, shares beginning of period (shares) at Dec. 31, 2015		349,149
Shareholders' Equity beginning of period at Dec. 31, 2015	$ 4,759,325	$ 3,491	$ 3,093,802	$ (609)	$ 1,662,641
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises (shares)		498
Stock option exercises	5,845	$ 5	5,840
Stock issuances, net of cancellations (shares)		523
Stock issuances, net of cancellations	8,856	$ 5	8,851
Dividends declared	(93,127)				(93,127)
Share repurchases (shares)		(17,856)
Share repurchases	(350,846)	$ (177)			(350,669)
Share-based compensation	12,976		12,976
Excess tax benefits (deficiencies) from share-based awards	(588)		(588)
Net income	329,530				329,530
Other comprehensive income	61			61
Shareholders' Equity, shares end of period (shares) at Sep. 30, 2016		332,314
Shareholders' Equity end of period at Sep. 30, 2016	4,672,032	$ 3,324	3,120,881	(548)	1,548,375
Shareholders' Equity, shares beginning of period (shares) at Dec. 31, 2016		319,090
Shareholders' Equity beginning of period at Dec. 31, 2016	4,659,363	$ 3,191	3,116,490	(526)	1,540,208
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting change (see Note 1)	18,237		(406)		18,643
Stock option exercises (shares)		1,954
Stock option exercises	22,765	$ 20	22,745
Stock issuances, net of cancellations (shares)		741
Stock issuances, net of cancellations	3,565	$ 10	3,555
Dividends declared	(83,685)				(83,685)
Share repurchases (shares)		(27,849)
Share repurchases	(665,812)	$ (281)			(665,531)
Share-based compensation	20,784		20,784
Net income	369,807				369,807
Other comprehensive income	61			61
Shareholders' Equity, shares end of period (shares) at Sep. 30, 2017		293,936
Shareholders' Equity end of period at Sep. 30, 2017	$ 4,345,085	$ 2,940	$ 3,163,168	$ (465)	$ 1,179,442

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 369,807	$ 329,530
Adjustments to reconcile net income to net cash from operating activities:
Deferred income tax expense	127,856	198,974
Land-related charges	131,254	13,185
Depreciation and amortization	38,689	40,218
Share-based compensation expense	26,505	19,813
Other, net	(1,438)	4,493
Increase (decrease) in cash due to:
Inventories	(758,006)	(1,100,173)
Residential mortgage loans available-for-sale	173,148	92,649
Other assets	22,120	11,502
Accounts payable, accrued and other liabilities	122,544	83,303
Net cash provided by (used in) operating activities	252,479	(306,506)
Cash flows from investing activities:
Capital expenditures	(23,548)	(30,551)
Investment in unconsolidated subsidiaries	(22,007)	(14,049)
Cash used for business acquisition	0	(430,458)
Other investing activities, net	5,788	5,473
Net cash used in investing activities	(39,767)	(469,585)
Cash flows from financing activities:
Proceeds from debt issuance	0	1,995,961
Repayments of debt	(7,001)	(985,734)
Borrowings under revolving credit facility	971,000	619,000
Repayments under revolving credit facility	(888,000)	(619,000)
Financial Services borrowings (repayments)	(85,797)	(109,083)
Stock option exercises	22,765	5,845
Share repurchases	(665,812)	(350,846)
Dividends paid	(86,018)	(94,298)
Net cash provided by (used in) financing activities	(738,863)	461,845
Net increase (decrease)	(526,151)	(314,246)
Cash, cash equivalents, and restricted cash at beginning of period	723,248	775,435
Cash, cash equivalents, and restricted cash at end of period	197,097	461,189
Supplemental Cash Flow Information:
Interest paid (capitalized), net	11,516
Interest paid (capitalized), net		(11,324)
Income taxes paid (refunded), net	$ 17,206	$ (74)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Write-offs of deposits and pre-acquisition costs (Note 2) $ 2,680 $ 2,541 $ 9,397 $ 12,996 Lease exit and related costs (a) 219 4,644 624 10,589 Amortization of intangible assets 3,450 3,450 10,350 10,350 Interest income (485 ) (887 ) (1,917 ) (2,659 ) Interest expense 101 165 371 526 Equity in loss (earnings) of unconsolidated entities (b) (415 ) (485 ) 4,154 (4,489 ) Miscellaneous, net (c) (307 ) 14,189 2,358 15,089 Total other expense, net $ 5,243 $ 23,617 $ 25,337 $ 42,402 (a) Lease exit and related costs for the three and nine months ended September 30, 2016 , resulted from actions taken to reduce overheads and the substantial completion of our corporate headquarters relocation from Michigan to Georgia, which began in 2013. (b) Includes an $8.0 million impairment of an investment in an unconsolidated entity in the nine months ended September 30, 2017 (see Note 2 ). (c) Miscellaneous, net includes a charge of $15.0 million related to the settlement of a disputed land transaction for the three and nine months ended September 30, 2016 (see Note 8 ). 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 potentially dilutive instruments, including stock options and unvested restricted share units, totaling 0.1 million for both the three and nine months ended September 30, 2017 , and 2.3 million for both the three and nine months ended September 30, 2016 . 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Numerator: Net income $ 177,539 $ 128,470 $ 369,807 $ 329,530 Less: earnings distributed to participating securities (294 ) (269 ) (899 ) (836 ) Less: undistributed earnings allocated to participating securities (1,645 ) (870 ) (2,837 ) (1,764 ) Numerator for basic earnings per share $ 175,600 $ 127,331 $ 366,071 $ 326,930 Add back: undistributed earnings allocated to participating securities 1,645 870 2,837 1,764 Less: undistributed earnings reallocated to participating securities (1,636 ) (865 ) (2,820 ) (1,751 ) Numerator for diluted earnings per share $ 175,609 $ 127,336 $ 366,088 $ 326,943 Denominator: Basic shares outstanding 298,538 340,171 309,453 344,383 Effect of dilutive securities 1,690 2,250 1,861 2,557 Diluted shares outstanding 300,228 342,421 311,314 346,940 Earnings per share: Basic $ 0.59 $ 0.37 $ 1.18 $ 0.95 Diluted $ 0.58 $ 0.37 $ 1.18 $ 0.94 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 September 30, 2017 and December 31, 2016 , residential mortgage loans available-for-sale had an aggregate fair value of $364.7 million and $539.5 million , respectively, and an aggregate outstanding principal balance of $352.7 million and $529.7 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $0.7 million and $(1.0) million for the three months ended September 30, 2017 and 2016 , respectively, and $(3.4) million and $0.3 million for the nine months ended September 30, 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 $27.1 million and $30.1 million for the three months ended September 30, 2017 and 2016 , respectively, and $80.1 million and $77.4 million for the nine months ended September 30, 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 September 30, 2017 and December 31, 2016 , we had aggregate IRLCs of $346.6 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 September 30, 2017 and December 31, 2016 , we had unexpired forward contracts of $532.0 million and $610.0 million , respectively, and whole loan investor commitments of $137.8 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 60 days. The fair values of derivative instruments and their locations in the Condensed Consolidated Balance Sheets are summarized below ($000’s omitted): September 30, 2017 December 31, 2016 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 10,434 $ 400 $ 9,194 $ 501 Forward contracts 1,124 607 8,085 1,004 Whole loan commitments 237 826 1,135 863 $ 11,795 $ 1,833 $ 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 have been actively engaged in discussions with the FASB and within our industry and continue to assess all potential effects of adopting the standard. We do not expect significant changes to our business processes, systems, or internal controls as a result of adopting the standard. We also do not expect the adoption of ASU 2014-09 to have a material impact on our financial statements. However, we continue to evaluate the impact of the revised disclosure requirements. 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. While the recognition of right-of-use assets and related liabilities will have a material effect on our consolidated balance sheets, we do not expect a material impact on our consolidated statement of operations. We continue to evaluate the full impact of the new standard, including the impact on our business processes, systems, and internal controls. We adopted ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09") effective 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 and deficiencies in the income statement resulted in a $5.4 million reduction in our income tax expense for the nine months ended September 30, 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. 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	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventory	Inventory Major components of inventory were as follows ($000’s omitted): September 30, December 31, Homes under construction $ 2,737,849 $ 1,921,259 Land under development 4,066,748 4,072,109 Raw land 565,555 777,287 $ 7,370,152 $ 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Interest in inventory, beginning of period $ 212,850 $ 167,488 $ 186,097 $ 149,498 Interest capitalized 46,077 42,030 135,949 115,545 Interest expensed (36,381 ) (32,857 ) (99,500 ) (88,382 ) Interest in inventory, end of period $ 222,546 $ 176,661 $ 222,546 $ 176,661 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 September 30, 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 September 30, 2017 and December 31, 2016 ($000’s omitted): September 30, 2017 December 31, 2016 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 73,652 $ 792,407 $ 68,527 $ 849,901 Other land options 128,168 1,475,258 126,909 1,252,662 $ 201,820 $ 2,267,665 $ 195,436 $ 2,102,563 Land-related charges We test inventory for impairment when events and circumstances indicate that the cash flows estimated to be generated by the community are less than its carrying amount. On May 3, 2017, we committed to a plan to sell select non-core and underutilized land parcels following a strategic review of our land portfolio. We determined that we would sell certain currently inactive land parcels, representing approximately 4,600 lots, and work is underway to monetize two small communities representing an additional 400 lots. These land parcels were located in diverse geographic areas and no longer fit into our strategic plans. The land parcels identified for sale included: land requiring significant additional development spend that would not yield suitable returns; land in excess of near-term need; and land entitled for certain product types inconsistent with our primary offerings. Actions required to complete the planned sales have been initiated, but the timing of completing the dispositions is unknown. We will seek to redeploy the proceeds and related tax benefits from these dispositions into higher returning projects. As a consequence of the change in strategy with respect to the future use of these land parcels, we recorded land-related charges totaling $120.0 million related to inventory with a pre-impairment carrying value of $161.9 million in the nine months ended September 30, 2017 . As a result of this review, we also recorded $5.1 million of write-offs of deposits and pre-acquisition costs related to land option contracts we no longer plan to pursue in the nine months ended September 30, 2017 . In total, we recorded the following overall land-related charges ($000's omitted): Three Months Ended Nine Months Ended Statement of Operations Classification September 30, September 30, 2017 2016 2017 2016 Land inventory impairments Home sale cost of revenues $ — $ — $ 31,487 $ — Net realizable value adjustments ("NRV") - land held for sale Land sale cost of revenues (534 ) 121 82,353 189 Impairments of unconsolidated entities Other expense, net — — 8,017 — Write-offs of deposits and pre-acquisition costs Other expense, net 2,680 2,541 9,397 12,996 Total land-related charges $ 2,146 $ 2,662 $ 131,254 $ 13,185 The estimated fair values of these land parcels were based on sales contracts or letters of intent, comparisons to market comparable transactions, estimated future net cash flows discounted for inherent risk associated with each underlying asset, or similar information. The estimated cash flows for certain parcels incorporate estimates related to expected average selling prices, expected sales paces, expected land development and construction timelines, and anticipated land development, construction, and overhead costs. The assumptions used in the valuations are specific to each community tested for impairment and typically do not assume improvements in market conditions in the near term. In certain instances, the determination of fair value requires discounting the estimated cash flows at a rate commensurate with the inherent risks associated with each of the assets and related estimated cash flow streams. The discount rate used in determining each community's fair value depends on the stage of development of the community and other specific factors that increase or decrease the inherent risks associated with the community's cash flow streams and ranged from 18% to 25% . Our evaluations for impairments are based on our best estimates of the future cash flows for our communities. Due to uncertainties in the estimation process, the significant volatility in demand for new housing, the long life cycles of certain of these communities, and potential changes in our strategy related to certain communities, actual results could differ significantly from such estimates.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 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 Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Revenues: Northeast $ 168,352 $ 155,226 $ 425,206 $ 426,397 Southeast 393,788 375,148 1,103,509 1,057,249 Florida 337,933 307,588 1,015,456 860,869 Midwest 405,827 342,709 1,008,086 819,250 Texas 269,781 261,693 792,565 730,456 West 507,386 452,521 1,298,877 1,154,226 2,083,067 1,894,885 5,643,699 5,048,447 Financial Services 46,952 48,020 135,995 126,950 Consolidated revenues $ 2,130,019 $ 1,942,905 $ 5,779,694 $ 5,175,397 Income before income taxes (a) : Northeast (b) $ 21,046 $ 6,056 $ (12,803 ) $ 34,884 Southeast 45,109 36,370 117,749 96,898 Florida (c) 52,191 45,891 132,824 130,546 Midwest 59,636 36,792 115,463 68,665 Texas 42,727 38,878 122,045 103,618 West 75,753 55,347 107,987 130,683 Other homebuilding (d) (45,999 ) (28,271 ) (103,441 ) (93,252 ) 250,463 191,063 479,824 472,042 Financial Services 17,786 21,272 50,238 48,086 Consolidated income before income taxes $ 268,249 $ 212,335 $ 530,062 $ 520,128 (a) Includes land-related charges of $2.1 million and $131.3 million for the three and nine months ended September 30, 2017 , respectively (see Land-related charges in following table). (b) Northeast includes a charge of $15.0 million related to the settlement of a disputed land transaction for the three and nine months ended September 30, 2016 (see Note 8 ). (c) Florida includes a warranty charge of $12.3 million for the nine months ended September 30, 2017 related to a closed-out community (see Note 8 ). (d) Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the operating segments. Other homebuilding also includes write-offs of $5.3 million and $20.3 million of insurance receivables associated with the resolution of certain insurance matters in the three and nine months ended September 30, 2017 , respectively, and an insurance reserve reversal of $19.8 million in the nine months ended September 30, 2017 (see Note 8 ). Operating Data by Segment Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Land-related charges*: Northeast $ 1,184 $ 464 $ 51,102 $ 990 Southeast 889 396 1,847 2,252 Florida 109 68 8,862 597 Midwest (393 ) 391 7,703 1,242 Texas 51 245 898 397 West 306 1,098 56,747 7,707 Other homebuilding — — 4,095 — $ 2,146 $ 2,662 $ 131,254 $ 13,185 * Land-related charges include land impairments, net realizable value adjustments on land held for sale, impairments of investments in unconsolidated entities, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue (see Note 2 ). Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges. Operating Data by Segment ($000's omitted) September 30, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 291,366 $ 308,675 $ 79,375 $ 679,416 $ 844,507 Southeast 452,249 629,864 132,558 1,214,671 1,345,121 Florida 402,228 864,682 81,058 1,347,968 1,494,185 Midwest 361,074 476,700 29,261 867,035 929,743 Texas 310,360 407,531 90,497 808,388 891,686 West 872,477 1,115,706 131,703 2,119,886 2,326,631 Other homebuilding (a) 48,095 263,590 21,103 332,788 1,703,680 2,737,849 4,066,748 565,555 7,370,152 9,535,553 Financial Services — — — — 435,716 $ 2,737,849 $ 4,066,748 $ 565,555 $ 7,370,152 $ 9,971,269 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	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt Senior notes Our senior notes are summarized as follows ($000’s omitted): September 30, 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) (13,016 ) (12,984 ) Total senior notes $ 3,109,984 $ 3,110,016 Estimated fair value $ 3,356,459 $ 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 unsecured senior 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 . In July 2016 , we issued an additional $1.0 billion of unsecured notes, consisting of an additional $400 million of the 4.25% senior notes due March 1, 2021 , and $600 million of 5.00% senior notes due January 15, 2027 . During October 2017, we settled the 7.625% notes on their due date. 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. On October 13, 2017, we exercised the accordion feature to increase the maximum borrowing capacity to $1.0 billion . 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 September 30, 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 in the Revolving Credit Facility. At September 30, 2017 , we had $83.0 million of borrowings outstanding and $244.7 million of letters of credit issued under the Revolving Credit Facility, respectively. At December 31, 2016 , we had no borrowings outstanding and $219.1 million of letters of credit issued under the Revolving Credit Facility, 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 September 30, 2017 , we had $422.3 million available under the facility and 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 $24.8 million at September 30, 2017 and $19.3 million at December 31, 2016 . These notes have maturities ranging up to four years, are generally collateralized by the land positions to which they relate, and are classified within accrued and other liabilities. The stated interest rates on these notes range up to 8.25% . Joint venture debt At September 30, 2017 , aggregate outstanding debt of unconsolidated joint ventures was $55.8 million of which $52.5 million was related to one joint venture in which we have a 50% interest. In connection with this loan, we and our joint venture partner provided customary limited recourse guaranties in which our maximum financial loss exposure is limited to our pro rata share of the debt outstanding. The limited guaranties include, but are not limited to: (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 with third party lenders. In August 2017 , Pulte Mortgage entered into an amended and restated repurchase agreement (the “Repurchase Agreement”) that extended the effective date to August 2018 . The maximum aggregate commitment is $300.0 million at September 30, 2017 , which increases to $475.0 million during the seasonally high borrowing period from December 26, 2017 through January 11, 2018. At all other times, the maximum aggregate commitment ranges from $250.0 million to $400.0 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 $245.8 million and $331.6 million outstanding under the Repurchase Agreement at September 30, 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	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Shareholders’ equity	Shareholders’ equity During the nine months ended September 30, 2017 , we declared cash dividends totaling $83.7 million and repurchased 27.8 million shares under our repurchase authorization for $659.8 million . For the nine months ended September 30, 2016 , we declared cash dividends totaling $93.1 million and repurchased 17.7 million shares under our repurchase authorization for $347.7 million . At September 30, 2017 , we had remaining authorization to repurchase $345.0 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 nine months ended September 30, 2017 and 2016 , participants surrendered shares valued at $6.0 million and $3.2 million , respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Our effective tax rate for the three and nine months ended September 30, 2017 was 33.8% and 30.2% , respectively, compared to 39.5% and 36.6% , respectively, for the same periods in 2016. Our effective tax rate for the current period differed from the federal statutory tax rate primarily due to state income tax expense on current year earnings, the favorable resolution of certain state income tax matters, the domestic production activities deduction, and tax law changes. For the same period in the prior year, our effective tax rate differed from the federal statutory tax rate primarily due to state income tax expense on current year earnings, the favorable resolution of certain state income tax matters, and tax law changes. Our effective tax rates for the three and nine months ended September 30, 2017 are lower than for the prior year periods primarily as the result of tax law changes and the domestic production activities deduction. At September 30, 2017 and December 31, 2016 , we had deferred tax assets, net of deferred tax liabilities and valuation allowance, of $0.9 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 September 30, 2017 and December 31, 2016 , we had $12.1 million and $21.5 million , respectively, of gross unrecognized tax benefits and $2.2 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 $8.7 million , excluding interest and penalties, primarily due to potential audit 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 for previously unrecognized excess tax benefits. We are currently under examination by the IRS as part of the Compliance Assurance Process ("CAP") 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 2010 through the current year . Net operating loss and credit carryforwards remain open to examination until the tax year of utilization closes.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 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 September 30, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 364,734 $ 539,496 Interest rate lock commitments Level 2 10,034 8,693 Forward contracts Level 2 517 7,081 Whole loan commitments Level 2 (589 ) 272 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ — $ 8,920 Land held for sale Level 2 — 1,670 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 197,097 $ 723,248 Financial Services debt Level 2 245,824 331,621 Revolving credit facility Level 2 83,000 — Senior notes Level 2 3,356,459 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, and 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. See Note 2 for a more detailed discussion of the valuation methods used for inventory and land held for sale. Investments in unconsolidated entities use similar valuation methods to inventory and land held for sale. 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 at both September 30, 2017 and December 31, 2016 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Liabilities, beginning of period $ 34,934 $ 35,945 $ 35,114 $ 46,381 Reserves provided (released), net (39 ) (138 ) (44 ) 629 Payments (152 ) (264 ) (327 ) (11,467 ) Liabilities, end of period $ 34,743 $ 35,543 $ 34,743 $ 35,543 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 $244.7 million and $1.2 billion , respectively, at September 30, 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. During the three months ended September 30, 2016, we settled a contract dispute related to a land transaction that we terminated approximately ten years prior in response to a collapse in housing demand. As a result of the settlement, we recorded a charge of $15.0 million , which is reflected in other expense, net. 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Warranty liabilities, beginning of period $ 73,353 $ 61,839 $ 66,134 $ 61,179 Reserves provided 12,286 19,221 35,374 45,744 Payments (14,679 ) (14,886 ) (43,594 ) (40,548 ) Other adjustments (a) 265 (1,753 ) 13,311 (1,954 ) Warranty liabilities, end of period $ 71,225 $ 64,421 $ 71,225 $ 64,421 (a) During the nine months ended September 30, 2017 , we recognized a charge of $12.3 million related to estimated costs to complete repairs in a closed-out community in Florida. 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 $824.6 million and $831.1 million at September 30, 2017 and December 31, 2016 , respectively, the vast majority of which relate 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 69% of the total general liability reserves at both September 30, 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Balance, beginning of period $ 814,756 $ 936,711 $ 831,058 $ 924,563 Reserves provided, net 24,361 21,674 62,970 67,190 Adjustments to previously recorded reserves (a) (511 ) (1,441 ) (22,304 ) (1,889 ) Payments, net (b) (13,981 ) (24,994 ) (47,099 ) (57,914 ) Balance, end of period $ 824,625 $ 931,950 $ 824,625 $ 931,950 (a) Includes a general liability reserve reversal of $19.8 million for the nine months ended September 30, 2017 , related to the resolution of one previously reported claim. (b) 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 $261.1 million and $307.3 million at September 30, 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. We recorded write-offs of $5.3 million and $20.3 million of insurance receivables associated with the resolution of certain insurance matters in the three and nine months ended September 30, 2017 , respectively. Additionally, we are the plaintiff in litigation with certain of our insurance carriers in regard to $77.5 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. 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	9 Months Ended
	Sep. 30, 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 SEPTEMBER 30, 2017 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 104,487 $ 53,750 $ — $ 158,237 Restricted cash — 37,685 1,175 — 38,860 Total cash, cash equivalents, and — 142,172 54,925 — 197,097 House and land inventory — 7,270,051 100,101 — 7,370,152 Land held for sale — 96,149 — — 96,149 Residential mortgage loans available- — — 364,734 — 364,734 Investments in unconsolidated entities 119 55,720 5,658 — 61,497 Other assets 10,793 633,108 153,538 — 797,439 Intangible assets — 144,442 — — 144,442 Deferred tax assets, net 940,922 — (1,163 ) — 939,759 Investments in subsidiaries and 6,713,036 130,933 7,249,758 (14,093,727 ) — $ 7,664,870 $ 8,472,575 $ 7,927,551 $ (14,093,727 ) $ 9,971,269 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 126,801 $ 1,873,135 $ 187,440 $ — $ 2,187,376 Financial Services debt — — 245,824 — 245,824 Revolving credit facility 83,000 — — — 83,000 Senior notes 3,109,984 — — — 3,109,984 Total liabilities 3,319,785 1,873,135 433,264 — 5,626,184 Total shareholders’ equity 4,345,085 6,599,440 7,494,287 (14,093,727 ) 4,345,085 $ 7,664,870 $ 8,472,575 $ 7,927,551 $ (14,093,727 ) $ 9,971,269 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, $ 129,516 $ 1,755,756 $ 191,928 $ — $ 2,077,200 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 September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,032,391 $ 23,500 $ — $ 2,055,891 Land sale revenues — 26,907 269 — 27,176 — 2,059,298 23,769 — 2,083,067 Financial Services — — 46,952 — 46,952 — 2,059,298 70,721 — 2,130,019 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,545,712 ) (18,893 ) — (1,564,605 ) Land sale cost of revenues — (24,896 ) (227 ) — (25,123 ) — (1,570,608 ) (19,120 ) — (1,589,728 ) Financial Services expenses — (121 ) (29,183 ) — (29,304 ) Selling, general, and administrative — (225,845 ) (11,650 ) — (237,495 ) Other expense, net (96 ) (11,623 ) 6,476 — (5,243 ) Intercompany interest (756 ) — 756 — — Income (loss) before income taxes and (852 ) 251,101 18,000 — 268,249 Income tax (expense) benefit 945 (84,666 ) (6,989 ) — (90,710 ) Income (loss) before equity in income 93 166,435 11,011 — 177,539 Equity in income (loss) of subsidiaries 177,446 18,040 114,564 (310,050 ) — Net income (loss) 177,539 184,475 125,575 (310,050 ) 177,539 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 177,559 $ 184,475 $ 125,575 $ (310,050 ) $ 177,559 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,871,284 $ 10,434 $ — $ 1,881,718 Land sale revenues — 13,167 — — 13,167 — 1,884,451 10,434 — 1,894,885 Financial Services — — 48,020 — 48,020 — 1,884,451 58,454 — 1,942,905 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,406,471 ) (11,234 ) — (1,417,705 ) Land sale cost of revenues — (11,428 ) — — (11,428 ) — (1,417,899 ) (11,234 ) — (1,429,133 ) Financial Services expenses — (145 ) (26,761 ) — (26,906 ) Selling, general, and administrative — (244,904 ) (6,010 ) — (250,914 ) Other expense, net (823 ) (26,166 ) 3,372 — (23,617 ) Intercompany interest (487 ) (2,072 ) 2,559 — — Income (loss) before income taxes and (1,310 ) 193,265 20,380 — 212,335 Income tax (expense) benefit 498 (76,552 ) (7,811 ) — (83,865 ) Income (loss) before equity in income (812 ) 116,713 12,569 — 128,470 Equity in income (loss) of subsidiaries 129,282 21,948 75,884 (227,114 ) — Net income (loss) 128,470 138,661 88,453 (227,114 ) 128,470 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 128,490 $ 138,661 $ 88,453 $ (227,114 ) $ 128,490 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 5,554,349 $ 52,604 $ — $ 5,606,953 Land sale revenues — 34,171 2,575 — 36,746 — 5,588,520 55,179 — 5,643,699 Financial Services — — 135,995 — 135,995 — 5,588,520 191,174 — 5,779,694 Homebuilding Cost of Revenues: Home sale cost of revenues — (4,288,754 ) (43,467 ) — (4,332,221 ) Land sale cost of revenues — (113,899 ) (2,051 ) — (115,950 ) — (4,402,653 ) (45,518 ) — (4,448,171 ) Financial Services expenses — (384 ) (85,766 ) — (86,150 ) Selling, general, and administrative — (653,930 ) (36,044 ) — (689,974 ) Other expense, net (354 ) (46,339 ) 21,356 — (25,337 ) Intercompany interest (1,634 ) — 1,634 — — Income (loss) before income taxes and (1,988 ) 485,214 46,836 — 530,062 Income tax (expense) benefit 1,377 (143,324 ) (18,308 ) — (160,255 ) Income (loss) before equity in income (611 ) 341,890 28,528 — 369,807 Equity in income (loss) of subsidiaries 370,418 36,307 197,494 (604,219 ) — Net income (loss) 369,807 378,197 226,022 (604,219 ) 369,807 Other comprehensive income 61 — — — 61 Comprehensive income (loss) $ 369,868 $ 378,197 $ 226,022 $ (604,219 ) $ 369,868 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 5,011,027 $ 16,816 $ — $ 5,027,843 Land sale revenues — 19,069 1,535 — 20,604 — 5,030,096 18,351 — 5,048,447 Financial Services — — 126,950 — 126,950 — 5,030,096 145,301 — 5,175,397 Homebuilding Cost of Revenues: Home sale cost of revenues — (3,750,011 ) (16,291 ) — (3,766,302 ) Land sale cost of revenues — (16,577 ) (1,282 ) — (17,859 ) — (3,766,588 ) (17,573 ) — (3,784,161 ) Financial Services expenses — (405 ) (78,799 ) — (79,204 ) Selling, general, and administrative — (729,629 ) (19,873 ) — (749,502 ) Other expense, net (1,164 ) (56,599 ) 15,361 — (42,402 ) Intercompany interest (1,487 ) (6,290 ) 7,777 — — Income (loss) before income taxes and (2,651 ) 470,585 52,194 — 520,128 Income tax (expense) benefit 1,008 (171,535 ) (20,071 ) — (190,598 ) Income (loss) before equity in income (1,643 ) 299,050 32,123 — 329,530 Equity in income (loss) of subsidiaries 331,173 31,827 261,777 (624,777 ) — Net income (loss) 329,530 330,877 293,900 (624,777 ) 329,530 Other comprehensive income 61 — — — 61 Comprehensive income (loss) $ 329,591 $ 330,877 $ 293,900 $ (624,777 ) $ 329,591 CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 58,575 $ 43,042 $ 150,862 $ — $ 252,479 Cash flows from investing activities: Capital expenditures — (19,693 ) (3,855 ) — (23,548 ) Investment in unconsolidated subsidiaries — (22,007 ) — — (22,007 ) Other investing activities, net — 5,728 60 — 5,788 Net cash provided by (used in) — (35,972 ) (3,795 ) — (39,767 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (85,797 ) — (85,797 ) Proceeds from debt issuance — — — — — Repayments of debt — (6,031 ) (970 ) — (7,001 ) Borrowings under revolving credit facility 971,000 — — — 971,000 Repayments under revolving credit facility (888,000 ) — — — (888,000 ) Stock option exercises 22,765 — — — 22,765 Share repurchases (665,812 ) — — — (665,812 ) Dividends paid (86,018 ) — — — (86,018 ) Intercompany activities, net 587,490 (470,052 ) (117,438 ) — — Net cash provided by (used in) (58,575 ) (476,083 ) (204,205 ) — (738,863 ) Net increase (decrease) — (469,013 ) (57,138 ) — (526,151 ) Cash, cash equivalents, and restricted cash — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash $ — $ 142,172 $ 54,925 $ — $ 197,097 CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 159,366 $ (562,165 ) $ 96,293 $ — $ (306,506 ) Cash flows from investing activities: Capital expenditures — (28,243 ) (2,308 ) — (30,551 ) Cash used for business acquisition — (430,458 ) — — (430,458 ) Investment in unconsolidated subsidiaries — (14,049 ) — — (14,049 ) Other investing activities, net — 3,913 1,560 — 5,473 Net cash provided by (used in) investing — (468,837 ) (748 ) — (469,585 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (109,083 ) — (109,083 ) Proceeds from debt issuance 1,991,961 4,000 — — 1,995,961 Repayments of debt (965,245 ) (20,394 ) (95 ) — (985,734 ) Borrowings under revolving credit facility 619,000 — — — 619,000 Repayments under revolving credit facility (619,000 ) — — — (619,000 ) Stock option exercises 5,845 — — — 5,845 Share repurchases (350,846 ) — — — (350,846 ) Dividends paid (94,298 ) — — — (94,298 ) Intercompany activities, net (746,783 ) 788,043 (41,260 ) — — Net cash provided by (used in) (159,366 ) 771,649 (150,438 ) — 461,845 Net increase (decrease) — (259,353 ) (54,893 ) — (314,246 ) Cash, cash equivalents, and restricted cash — 658,876 116,559 — 775,435 Cash, cash equivalents, and restricted cash $ — $ 399,523 $ 61,666 $ — $ 461,189

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 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 potentially dilutive instruments, including stock options and unvested restricted share units, totaling 0.1 million for both the three and nine months ended September 30, 2017 , and 2.3 million for both the three and nine months ended September 30, 2016 . 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 September 30, 2017 and December 31, 2016 , residential mortgage loans available-for-sale had an aggregate fair value of $364.7 million and $539.5 million , respectively, and an aggregate outstanding principal balance of $352.7 million and $529.7 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $0.7 million and $(1.0) million for the three months ended September 30, 2017 and 2016 , respectively, and $(3.4) million and $0.3 million for the nine months ended September 30, 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 $27.1 million and $30.1 million for the three months ended September 30, 2017 and 2016 , respectively, and $80.1 million and $77.4 million for the nine months ended September 30, 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 September 30, 2017 and December 31, 2016 , we had aggregate IRLCs of $346.6 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 September 30, 2017 and December 31, 2016 , we had unexpired forward contracts of $532.0 million and $610.0 million , respectively, and whole loan investor commitments of $137.8 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 60 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 have been actively engaged in discussions with the FASB and within our industry and continue to assess all potential effects of adopting the standard. We do not expect significant changes to our business processes, systems, or internal controls as a result of adopting the standard. We also do not expect the adoption of ASU 2014-09 to have a material impact on our financial statements. However, we continue to evaluate the impact of the revised disclosure requirements. 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. While the recognition of right-of-use assets and related liabilities will have a material effect on our consolidated balance sheets, we do not expect a material impact on our consolidated statement of operations. We continue to evaluate the full impact of the new standard, including the impact on our business processes, systems, and internal controls. We adopted ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09") effective 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 and deficiencies in the income statement resulted in a $5.4 million reduction in our income tax expense for the nine months ended September 30, 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. 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, and 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. See Note 2 for a more detailed discussion of the valuation methods used for inventory and land held for sale. Investments in unconsolidated entities use similar valuation methods to inventory and land held for sale. 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. During the three months ended September 30, 2016, we settled a contract dispute related to a land transaction that we terminated approximately ten years prior in response to a collapse in housing demand. As a result of the settlement, we recorded a charge of $15.0 million , which is reflected in other expense, net.
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)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of Other Expense (Income), Net	Other expense, net consists of the following ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Write-offs of deposits and pre-acquisition costs (Note 2) $ 2,680 $ 2,541 $ 9,397 $ 12,996 Lease exit and related costs (a) 219 4,644 624 10,589 Amortization of intangible assets 3,450 3,450 10,350 10,350 Interest income (485 ) (887 ) (1,917 ) (2,659 ) Interest expense 101 165 371 526 Equity in loss (earnings) of unconsolidated entities (b) (415 ) (485 ) 4,154 (4,489 ) Miscellaneous, net (c) (307 ) 14,189 2,358 15,089 Total other expense, net $ 5,243 $ 23,617 $ 25,337 $ 42,402 (a) Lease exit and related costs for the three and nine months ended September 30, 2016 , resulted from actions taken to reduce overheads and the substantial completion of our corporate headquarters relocation from Michigan to Georgia, which began in 2013. (b) Includes an $8.0 million impairment of an investment in an unconsolidated entity in the nine months ended September 30, 2017 (see Note 2 ). (c) Miscellaneous, net includes a charge of $15.0 million related to the settlement of a disputed land transaction for the three and nine months ended September 30, 2016 (see Note 8 ).
Schedule of Earnings Per Share	The following table presents the earnings per common share (000's omitted, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Numerator: Net income $ 177,539 $ 128,470 $ 369,807 $ 329,530 Less: earnings distributed to participating securities (294 ) (269 ) (899 ) (836 ) Less: undistributed earnings allocated to participating securities (1,645 ) (870 ) (2,837 ) (1,764 ) Numerator for basic earnings per share $ 175,600 $ 127,331 $ 366,071 $ 326,930 Add back: undistributed earnings allocated to participating securities 1,645 870 2,837 1,764 Less: undistributed earnings reallocated to participating securities (1,636 ) (865 ) (2,820 ) (1,751 ) Numerator for diluted earnings per share $ 175,609 $ 127,336 $ 366,088 $ 326,943 Denominator: Basic shares outstanding 298,538 340,171 309,453 344,383 Effect of dilutive securities 1,690 2,250 1,861 2,557 Diluted shares outstanding 300,228 342,421 311,314 346,940 Earnings per share: Basic $ 0.59 $ 0.37 $ 1.18 $ 0.95 Diluted $ 0.58 $ 0.37 $ 1.18 $ 0.94
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): September 30, 2017 December 31, 2016 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 10,434 $ 400 $ 9,194 $ 501 Forward contracts 1,124 607 8,085 1,004 Whole loan commitments 237 826 1,135 863 $ 11,795 $ 1,833 $ 18,414 $ 2,368

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Components of Inventory	Major components of inventory were as follows ($000’s omitted): September 30, December 31, Homes under construction $ 2,737,849 $ 1,921,259 Land under development 4,066,748 4,072,109 Raw land 565,555 777,287 $ 7,370,152 $ 6,770,655
Capitalized Interest Rollforward	Information related to interest capitalized into inventory is as follows ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Interest in inventory, beginning of period $ 212,850 $ 167,488 $ 186,097 $ 149,498 Interest capitalized 46,077 42,030 135,949 115,545 Interest expensed (36,381 ) (32,857 ) (99,500 ) (88,382 ) Interest in inventory, end of period $ 222,546 $ 176,661 $ 222,546 $ 176,661
Schedule Of Company Interests In Land Option Agreements	The following provides a summary of our interests in land option agreements as of September 30, 2017 and December 31, 2016 ($000’s omitted): September 30, 2017 December 31, 2016 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 73,652 $ 792,407 $ 68,527 $ 849,901 Other land options 128,168 1,475,258 126,909 1,252,662 $ 201,820 $ 2,267,665 $ 195,436 $ 2,102,563
Schedule Of Impairment Losses	As a consequence of the change in strategy with respect to the future use of these land parcels, we recorded land-related charges totaling $120.0 million related to inventory with a pre-impairment carrying value of $161.9 million in the nine months ended September 30, 2017 . As a result of this review, we also recorded $5.1 million of write-offs of deposits and pre-acquisition costs related to land option contracts we no longer plan to pursue in the nine months ended September 30, 2017 . In total, we recorded the following overall land-related charges ($000's omitted): Three Months Ended Nine Months Ended Statement of Operations Classification September 30, September 30, 2017 2016 2017 2016 Land inventory impairments Home sale cost of revenues $ — $ — $ 31,487 $ — Net realizable value adjustments ("NRV") - land held for sale Land sale cost of revenues (534 ) 121 82,353 189 Impairments of unconsolidated entities Other expense, net — — 8,017 — Write-offs of deposits and pre-acquisition costs Other expense, net 2,680 2,541 9,397 12,996 Total land-related charges $ 2,146 $ 2,662 $ 131,254 $ 13,185

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 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 Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Revenues: Northeast $ 168,352 $ 155,226 $ 425,206 $ 426,397 Southeast 393,788 375,148 1,103,509 1,057,249 Florida 337,933 307,588 1,015,456 860,869 Midwest 405,827 342,709 1,008,086 819,250 Texas 269,781 261,693 792,565 730,456 West 507,386 452,521 1,298,877 1,154,226 2,083,067 1,894,885 5,643,699 5,048,447 Financial Services 46,952 48,020 135,995 126,950 Consolidated revenues $ 2,130,019 $ 1,942,905 $ 5,779,694 $ 5,175,397 Income before income taxes (a) : Northeast (b) $ 21,046 $ 6,056 $ (12,803 ) $ 34,884 Southeast 45,109 36,370 117,749 96,898 Florida (c) 52,191 45,891 132,824 130,546 Midwest 59,636 36,792 115,463 68,665 Texas 42,727 38,878 122,045 103,618 West 75,753 55,347 107,987 130,683 Other homebuilding (d) (45,999 ) (28,271 ) (103,441 ) (93,252 ) 250,463 191,063 479,824 472,042 Financial Services 17,786 21,272 50,238 48,086 Consolidated income before income taxes $ 268,249 $ 212,335 $ 530,062 $ 520,128 (a) Includes land-related charges of $2.1 million and $131.3 million for the three and nine months ended September 30, 2017 , respectively (see Land-related charges in following table). (b) Northeast includes a charge of $15.0 million related to the settlement of a disputed land transaction for the three and nine months ended September 30, 2016 (see Note 8 ). (c) Florida includes a warranty charge of $12.3 million for the nine months ended September 30, 2017 related to a closed-out community (see Note 8 ). (d) Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the operating segments. Other homebuilding also includes write-offs of $5.3 million and $20.3 million of insurance receivables associated with the resolution of certain insurance matters in the three and nine months ended September 30, 2017 ,
Land-Related Charges By Reporting Segment	Operating Data by Segment Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Land-related charges*: Northeast $ 1,184 $ 464 $ 51,102 $ 990 Southeast 889 396 1,847 2,252 Florida 109 68 8,862 597 Midwest (393 ) 391 7,703 1,242 Texas 51 245 898 397 West 306 1,098 56,747 7,707 Other homebuilding — — 4,095 — $ 2,146 $ 2,662 $ 131,254 $ 13,185 * Land-related charges include land impairments, net realizable value adjustments on land held for sale, impairments of investments in unconsolidated entities, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue (see Note 2 ). Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges.
Total Assets And Inventory By Reporting Segment	Operating Data by Segment ($000's omitted) September 30, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 291,366 $ 308,675 $ 79,375 $ 679,416 $ 844,507 Southeast 452,249 629,864 132,558 1,214,671 1,345,121 Florida 402,228 864,682 81,058 1,347,968 1,494,185 Midwest 361,074 476,700 29,261 867,035 929,743 Texas 310,360 407,531 90,497 808,388 891,686 West 872,477 1,115,706 131,703 2,119,886 2,326,631 Other homebuilding (a) 48,095 263,590 21,103 332,788 1,703,680 2,737,849 4,066,748 565,555 7,370,152 9,535,553 Financial Services — — — — 435,716 $ 2,737,849 $ 4,066,748 $ 565,555 $ 7,370,152 $ 9,971,269 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)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Senior Notes	Our senior notes are summarized as follows ($000’s omitted): September 30, 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) (13,016 ) (12,984 ) Total senior notes $ 3,109,984 $ 3,110,016 Estimated fair value $ 3,356,459 $ 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)	9 Months Ended
	Sep. 30, 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 September 30, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 364,734 $ 539,496 Interest rate lock commitments Level 2 10,034 8,693 Forward contracts Level 2 517 7,081 Whole loan commitments Level 2 (589 ) 272 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ — $ 8,920 Land held for sale Level 2 — 1,670 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 197,097 $ 723,248 Financial Services debt Level 2 245,824 331,621 Revolving credit facility Level 2 83,000 — Senior notes Level 2 3,356,459 3,112,297

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Liabilities, beginning of period $ 34,934 $ 35,945 $ 35,114 $ 46,381 Reserves provided (released), net (39 ) (138 ) (44 ) 629 Payments (152 ) (264 ) (327 ) (11,467 ) Liabilities, end of period $ 34,743 $ 35,543 $ 34,743 $ 35,543
Summary of Changes in Warranty Liability	Changes to warranty liabilities were as follows ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Warranty liabilities, beginning of period $ 73,353 $ 61,839 $ 66,134 $ 61,179 Reserves provided 12,286 19,221 35,374 45,744 Payments (14,679 ) (14,886 ) (43,594 ) (40,548 ) Other adjustments (a) 265 (1,753 ) 13,311 (1,954 ) Warranty liabilities, end of period $ 71,225 $ 64,421 $ 71,225 $ 64,421 (a) During the nine months ended September 30, 2017 , we recognized a charge of $12.3 million related to estimated costs to complete repairs in a closed-out community in Florida.
Summary of Changes in Self-Insurance Liability	Changes in these liabilities were as follows ($000's omitted): Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Balance, beginning of period $ 814,756 $ 936,711 $ 831,058 $ 924,563 Reserves provided, net 24,361 21,674 62,970 67,190 Adjustments to previously recorded reserves (a) (511 ) (1,441 ) (22,304 ) (1,889 ) Payments, net (b) (13,981 ) (24,994 ) (47,099 ) (57,914 ) Balance, end of period $ 824,625 $ 931,950 $ 824,625 $ 931,950

Supplemental Guarantor Inform23

Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2017
Supplemental Guarantor Information [Abstract]
Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2017 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 104,487 $ 53,750 $ — $ 158,237 Restricted cash — 37,685 1,175 — 38,860 Total cash, cash equivalents, and — 142,172 54,925 — 197,097 House and land inventory — 7,270,051 100,101 — 7,370,152 Land held for sale — 96,149 — — 96,149 Residential mortgage loans available- — — 364,734 — 364,734 Investments in unconsolidated entities 119 55,720 5,658 — 61,497 Other assets 10,793 633,108 153,538 — 797,439 Intangible assets — 144,442 — — 144,442 Deferred tax assets, net 940,922 — (1,163 ) — 939,759 Investments in subsidiaries and 6,713,036 130,933 7,249,758 (14,093,727 ) — $ 7,664,870 $ 8,472,575 $ 7,927,551 $ (14,093,727 ) $ 9,971,269 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 126,801 $ 1,873,135 $ 187,440 $ — $ 2,187,376 Financial Services debt — — 245,824 — 245,824 Revolving credit facility 83,000 — — — 83,000 Senior notes 3,109,984 — — — 3,109,984 Total liabilities 3,319,785 1,873,135 433,264 — 5,626,184 Total shareholders’ equity 4,345,085 6,599,440 7,494,287 (14,093,727 ) 4,345,085 $ 7,664,870 $ 8,472,575 $ 7,927,551 $ (14,093,727 ) $ 9,971,269 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, $ 129,516 $ 1,755,756 $ 191,928 $ — $ 2,077,200 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 September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,032,391 $ 23,500 $ — $ 2,055,891 Land sale revenues — 26,907 269 — 27,176 — 2,059,298 23,769 — 2,083,067 Financial Services — — 46,952 — 46,952 — 2,059,298 70,721 — 2,130,019 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,545,712 ) (18,893 ) — (1,564,605 ) Land sale cost of revenues — (24,896 ) (227 ) — (25,123 ) — (1,570,608 ) (19,120 ) — (1,589,728 ) Financial Services expenses — (121 ) (29,183 ) — (29,304 ) Selling, general, and administrative — (225,845 ) (11,650 ) — (237,495 ) Other expense, net (96 ) (11,623 ) 6,476 — (5,243 ) Intercompany interest (756 ) — 756 — — Income (loss) before income taxes and (852 ) 251,101 18,000 — 268,249 Income tax (expense) benefit 945 (84,666 ) (6,989 ) — (90,710 ) Income (loss) before equity in income 93 166,435 11,011 — 177,539 Equity in income (loss) of subsidiaries 177,446 18,040 114,564 (310,050 ) — Net income (loss) 177,539 184,475 125,575 (310,050 ) 177,539 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 177,559 $ 184,475 $ 125,575 $ (310,050 ) $ 177,559 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 1,871,284 $ 10,434 $ — $ 1,881,718 Land sale revenues — 13,167 — — 13,167 — 1,884,451 10,434 — 1,894,885 Financial Services — — 48,020 — 48,020 — 1,884,451 58,454 — 1,942,905 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,406,471 ) (11,234 ) — (1,417,705 ) Land sale cost of revenues — (11,428 ) — — (11,428 ) — (1,417,899 ) (11,234 ) — (1,429,133 ) Financial Services expenses — (145 ) (26,761 ) — (26,906 ) Selling, general, and administrative — (244,904 ) (6,010 ) — (250,914 ) Other expense, net (823 ) (26,166 ) 3,372 — (23,617 ) Intercompany interest (487 ) (2,072 ) 2,559 — — Income (loss) before income taxes and (1,310 ) 193,265 20,380 — 212,335 Income tax (expense) benefit 498 (76,552 ) (7,811 ) — (83,865 ) Income (loss) before equity in income (812 ) 116,713 12,569 — 128,470 Equity in income (loss) of subsidiaries 129,282 21,948 75,884 (227,114 ) — Net income (loss) 128,470 138,661 88,453 (227,114 ) 128,470 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 128,490 $ 138,661 $ 88,453 $ (227,114 ) $ 128,490 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 5,554,349 $ 52,604 $ — $ 5,606,953 Land sale revenues — 34,171 2,575 — 36,746 — 5,588,520 55,179 — 5,643,699 Financial Services — — 135,995 — 135,995 — 5,588,520 191,174 — 5,779,694 Homebuilding Cost of Revenues: Home sale cost of revenues — (4,288,754 ) (43,467 ) — (4,332,221 ) Land sale cost of revenues — (113,899 ) (2,051 ) — (115,950 ) — (4,402,653 ) (45,518 ) — (4,448,171 ) Financial Services expenses — (384 ) (85,766 ) — (86,150 ) Selling, general, and administrative — (653,930 ) (36,044 ) — (689,974 ) Other expense, net (354 ) (46,339 ) 21,356 — (25,337 ) Intercompany interest (1,634 ) — 1,634 — — Income (loss) before income taxes and (1,988 ) 485,214 46,836 — 530,062 Income tax (expense) benefit 1,377 (143,324 ) (18,308 ) — (160,255 ) Income (loss) before equity in income (611 ) 341,890 28,528 — 369,807 Equity in income (loss) of subsidiaries 370,418 36,307 197,494 (604,219 ) — Net income (loss) 369,807 378,197 226,022 (604,219 ) 369,807 Other comprehensive income 61 — — — 61 Comprehensive income (loss) $ 369,868 $ 378,197 $ 226,022 $ (604,219 ) $ 369,868 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 5,011,027 $ 16,816 $ — $ 5,027,843 Land sale revenues — 19,069 1,535 — 20,604 — 5,030,096 18,351 — 5,048,447 Financial Services — — 126,950 — 126,950 — 5,030,096 145,301 — 5,175,397 Homebuilding Cost of Revenues: Home sale cost of revenues — (3,750,011 ) (16,291 ) — (3,766,302 ) Land sale cost of revenues — (16,577 ) (1,282 ) — (17,859 ) — (3,766,588 ) (17,573 ) — (3,784,161 ) Financial Services expenses — (405 ) (78,799 ) — (79,204 ) Selling, general, and administrative — (729,629 ) (19,873 ) — (749,502 ) Other expense, net (1,164 ) (56,599 ) 15,361 — (42,402 ) Intercompany interest (1,487 ) (6,290 ) 7,777 — — Income (loss) before income taxes and (2,651 ) 470,585 52,194 — 520,128 Income tax (expense) benefit 1,008 (171,535 ) (20,071 ) — (190,598 ) Income (loss) before equity in income (1,643 ) 299,050 32,123 — 329,530 Equity in income (loss) of subsidiaries 331,173 31,827 261,777 (624,777 ) — Net income (loss) 329,530 330,877 293,900 (624,777 ) 329,530 Other comprehensive income 61 — — — 61 Comprehensive income (loss) $ 329,591 $ 330,877 $ 293,900 $ (624,777 ) $ 329,591
Consolidating Statement Of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 58,575 $ 43,042 $ 150,862 $ — $ 252,479 Cash flows from investing activities: Capital expenditures — (19,693 ) (3,855 ) — (23,548 ) Investment in unconsolidated subsidiaries — (22,007 ) — — (22,007 ) Other investing activities, net — 5,728 60 — 5,788 Net cash provided by (used in) — (35,972 ) (3,795 ) — (39,767 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (85,797 ) — (85,797 ) Proceeds from debt issuance — — — — — Repayments of debt — (6,031 ) (970 ) — (7,001 ) Borrowings under revolving credit facility 971,000 — — — 971,000 Repayments under revolving credit facility (888,000 ) — — — (888,000 ) Stock option exercises 22,765 — — — 22,765 Share repurchases (665,812 ) — — — (665,812 ) Dividends paid (86,018 ) — — — (86,018 ) Intercompany activities, net 587,490 (470,052 ) (117,438 ) — — Net cash provided by (used in) (58,575 ) (476,083 ) (204,205 ) — (738,863 ) Net increase (decrease) — (469,013 ) (57,138 ) — (526,151 ) Cash, cash equivalents, and restricted cash — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash $ — $ 142,172 $ 54,925 $ — $ 197,097 CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 159,366 $ (562,165 ) $ 96,293 $ — $ (306,506 ) Cash flows from investing activities: Capital expenditures — (28,243 ) (2,308 ) — (30,551 ) Cash used for business acquisition — (430,458 ) — — (430,458 ) Investment in unconsolidated subsidiaries — (14,049 ) — — (14,049 ) Other investing activities, net — 3,913 1,560 — 5,473 Net cash provided by (used in) investing — (468,837 ) (748 ) — (469,585 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — (109,083 ) — (109,083 ) Proceeds from debt issuance 1,991,961 4,000 — — 1,995,961 Repayments of debt (965,245 ) (20,394 ) (95 ) — (985,734 ) Borrowings under revolving credit facility 619,000 — — — 619,000 Repayments under revolving credit facility (619,000 ) — — — (619,000 ) Stock option exercises 5,845 — — — 5,845 Share repurchases (350,846 ) — — — (350,846 ) Dividends paid (94,298 ) — — — (94,298 ) Intercompany activities, net (746,783 ) 788,043 (41,260 ) — — Net cash provided by (used in) (159,366 ) 771,649 (150,438 ) — 461,845 Net increase (decrease) — (259,353 ) (54,893 ) — (314,246 ) Cash, cash equivalents, and restricted cash — 658,876 116,559 — 775,435 Cash, cash equivalents, and restricted cash $ — $ 399,523 $ 61,666 $ — $ 461,189

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2016USD ($)homelot	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares	May 03, 2017lot	Dec. 31, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
Cash paid to acquire business				$ 0	$ 430,458
Number of units in real estate property | lot						4,600
Antidilutive securities excluded from computation of earnings per share | shares		0.1	2.3	0.1	2.3
Residential mortgage loans available-for-sale fair value		$ 364,734		$ 364,734			$ 539,496
Residential mortgage loans available-for-sale aggregate outstanding principal balance		352,700		352,700			529,700
Net gain (loss) from change in fair value		700	$ (1,000)	(3,400)	$ 300
Net gains from the sale of mortgages		$ 27,100	$ 30,100	$ 80,100	$ 77,400
Variability in future cash flows of derivative instruments in days				60 days
Income statement impact ASU 2016-09 adoption		5.4
Interest rate lock commitments
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		$ 346,600		$ 346,600			273,900
Forward contracts
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		532,000		532,000			610,000
Whole loan commitments
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		$ 137,800		$ 137,800			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 | Retained Earnings | Accounting Standards Update 2016-09, Excess Tax Benefit Component
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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accounting Policies [Abstract]
Write-offs of deposits and pre-acquisition costs (Note 2)	$ 2,680	$ 2,541	$ 9,397	$ 12,996
Lease exit and related costs	219	4,644	624	10,589
Amortization of intangible assets	3,450	3,450	10,350	10,350
Interest income	(485)	(887)	(1,917)	(2,659)
Interest expense	101	165	371	526
Equity in loss (earnings) of unconsolidated entities	(415)	(485)	4,154	(4,489)
Miscellaneous, net	(307)	14,189	2,358	15,089
Other expense (income), net	$ 5,243	23,617	$ 25,337	42,402
ImpairmentUnconsolidatedSubsidiary			8,017
Litigation Settlement, Expense		$ 15,000		$ 15,000

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net income	$ 177,539	$ 128,470	$ 369,807	$ 329,530
Less: earnings distributed to participating securities	(294)	(269)	(899)	(836)
Less: undistributed earnings allocated to participating securities	(1,645)	(870)	(2,837)	(1,764)
Numerator for basic earnings per share	175,600	127,331	366,071	326,930
Add back: undistributed earnings allocated to participating securities	1,645	870	2,837	1,764
Less: undistributed earnings reallocated to participating securities	(1,636)	(865)	(2,820)	(1,751)
Numerator for diluted earnings per share	$ 175,609	$ 127,336	$ 366,088	$ 326,943
Denominator:
Basic shares outstanding (shares)	298,538	340,171	309,453	344,383
Effect of dilutive securities (shares)	1,690	2,250	1,861	2,557
Diluted shares outstanding (shares)	300,228	342,421	311,314	346,940
Earnings per share:
Basic earnings (usd per share)	$ 0.59	$ 0.37	$ 1.18	$ 0.95
Diluted earnings (usd per share)	$ 0.58	$ 0.37	$ 1.18	$ 0.94

Basis of Presentation (Fair Val

Basis of Presentation (Fair Value Of the Company's Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	$ 11,795	$ 18,414
Accrued and Other Liabilities	1,833	2,368
Interest rate lock commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	10,434	9,194
Accrued and Other Liabilities	400	501
Forward contracts
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	1,124	8,085
Accrued and Other Liabilities	607	1,004
Whole loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	237	1,135
Accrued and Other Liabilities	$ 826	$ 863

Inventory (Major Components Of

Inventory (Major Components Of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Homes under construction	$ 2,737,849	$ 1,921,259
Land under development	4,066,748	4,072,109
Raw land	565,555	777,287
Total Inventory	$ 7,370,152	$ 6,770,655

Inventory (Information Related

Inventory (Information Related To Interest Capitalized Into Homebuilding Inventory) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest in inventory, beginning of period	$ 212,850	$ 167,488	$ 186,097	$ 149,498
Interest capitalized	46,077	42,030	135,949	115,545
Interest expensed	(36,381)	(32,857)	(99,500)	(88,382)
Interest in inventory, end of period	$ 222,546	$ 176,661	$ 222,546	$ 176,661

Inventory (Summary of Interests

Inventory (Summary of Interests in Land Option Agreements) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	$ 201,820	$ 195,436
Remaining Purchase Price	2,267,665	2,102,563
Land options with VIEs
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	73,652	68,527
Remaining Purchase Price	792,407	849,901
Other land options
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	128,168	126,909
Remaining Purchase Price	$ 1,475,258	$ 1,252,662

Inventory Additional Informatio

Inventory Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	May 03, 2017communitylot
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of units in real estate property | lot					4,600
Number of communities | community					2
Number of lots, monetize | lot					400
Land-related Charges - NRV Impairments Re acquisition writeoffs			$ 120,000
Carrying amount impaired land-prior impairment	$ 161,900		161,900
Write-offs of deposits and pre-acquisition costs			5,100
Write-offs of deposits and pre-acquisition costs	$ 2,680	$ 2,541	$ 9,397	$ 12,996
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate			18.00%
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate			25.00%

Inventory Inventory (Summary of

Inventory Inventory (Summary of Land-related Charges) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Inventory Disclosure [Abstract]
Land inventory impairments	$ 0	$ 0	$ 31,487	$ 0
Net realizable value adjustments (NRV) - land held for sale	(534)	121	82,353	189
Impairments of unconsolidated entities	0	0	8,017	0
Write-offs of deposits and pre-acquisition costs (Note 2)	2,680	2,541	9,397	12,996
Total land-related charges	$ 2,146	$ 2,662	$ 131,254	$ 13,185

Segment Information Narrative (

Segment Information Narrative (Details)	9 Months Ended
	Sep. 30, 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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Homebuilding	$ 2,083,067	$ 1,894,885	$ 5,643,699	$ 5,048,447
Financial Services	46,952	48,020	135,995	126,950
Consolidated revenues	2,130,019	1,942,905	5,779,694	5,175,397
Income before Income Taxes:
Income before income taxes	$ 268,249	212,335	$ 530,062	520,128
Litigation Settlement, Expense		15,000		15,000
Write-off of insurance receivables	5,326		20,326
Gain (loss) related to litigation settlement			$ 19,800
Northeast
Revenues:
Homebuilding	$ 168,352	155,226	425,206	426,397
Income before Income Taxes:
Income before income taxes	21,046	6,056	(12,803)	34,884
Southeast
Revenues:
Homebuilding	393,788	375,148	1,103,509	1,057,249
Income before Income Taxes:
Income before income taxes	45,109	36,370	117,749	96,898
Florida
Revenues:
Homebuilding	337,933	307,588	1,015,456	860,869
Income before Income Taxes:
Income before income taxes	52,191	45,891	132,824	130,546
Product warranty expense	12,300
Midwest
Revenues:
Homebuilding	405,827	342,709	1,008,086	819,250
Income before Income Taxes:
Income before income taxes	59,636	36,792	115,463	68,665
Texas
Revenues:
Homebuilding	269,781	261,693	792,565	730,456
Income before Income Taxes:
Income before income taxes	42,727	38,878	122,045	103,618
West
Revenues:
Homebuilding	507,386	452,521	1,298,877	1,154,226
Income before Income Taxes:
Income before income taxes	75,753	55,347	107,987	130,683
Other homebuilding
Income before Income Taxes:
Income before income taxes	(45,999)	(28,271)	(103,441)	(93,252)
Homebuilding
Income before Income Taxes:
Income before income taxes	250,463	191,063	479,824	472,042
Financial Services
Income before Income Taxes:
Income before income taxes	$ 17,786	$ 21,272	$ 50,238	$ 48,086

Segment Information Segment Inf

Segment Information Segment Information (Land-Related Charges by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Land-related charges	$ 2,146	$ 2,662	$ 131,254	$ 13,185
Northeast
Restructuring Cost and Reserve [Line Items]
Land-related charges	1,184	464	51,102	990
Southeast
Restructuring Cost and Reserve [Line Items]
Land-related charges	889	396	1,847	2,252
Florida
Restructuring Cost and Reserve [Line Items]
Land-related charges	109	68	8,862	597
Midwest
Restructuring Cost and Reserve [Line Items]
Land-related charges	(393)	391	7,703	1,242
Texas
Restructuring Cost and Reserve [Line Items]
Land-related charges	51	245	898	397
West
Restructuring Cost and Reserve [Line Items]
Land-related charges	306	1,098	56,747	7,707
Other homebuilding
Restructuring Cost and Reserve [Line Items]
Land-related charges	$ 0	$ 0	$ 4,095	$ 0

Segment Information (Total Asse

Segment Information (Total Assets And Inventory By Reportable Segment) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information
Homes under construction	$ 2,737,849	$ 1,921,259
Land under development	4,066,748	4,072,109
Raw land	565,555	777,287
Total Inventory	7,370,152	6,770,655
Total Assets	9,971,269	10,178,200
Northeast
Segment Reporting Information
Homes under construction	291,366	175,253
Land under development	308,675	375,899
Raw land	79,375	135,447
Total Inventory	679,416	686,599
Total Assets	844,507	798,369
Southeast
Segment Reporting Information
Homes under construction	452,249	354,047
Land under development	629,864	650,805
Raw land	132,558	148,793
Total Inventory	1,214,671	1,153,645
Total Assets	1,345,121	1,243,188
Florida
Segment Reporting Information
Homes under construction	402,228	309,525
Land under development	864,682	683,376
Raw land	81,058	183,168
Total Inventory	1,347,968	1,176,069
Total Assets	1,494,185	1,330,847
Midwest
Segment Reporting Information
Homes under construction	361,074	256,649
Land under development	476,700	474,287
Raw land	29,261	50,302
Total Inventory	867,035	781,238
Total Assets	929,743	851,457
Texas
Segment Reporting Information
Homes under construction	310,360	219,606
Land under development	407,531	413,312
Raw land	90,497	74,750
Total Inventory	808,388	707,668
Total Assets	891,686	793,917
West
Segment Reporting Information
Homes under construction	872,477	580,082
Land under development	1,115,706	1,226,190
Raw land	131,703	159,387
Total Inventory	2,119,886	1,965,659
Total Assets	2,326,631	2,200,058
Other homebuilding
Segment Reporting Information
Homes under construction	48,095	26,097
Land under development	263,590	248,240
Raw land	21,103	25,440
Total Inventory	332,788	299,777
Total Assets	1,703,680	2,351,082
Homebuilding
Segment Reporting Information
Homes under construction	2,737,849	1,921,259
Land under development	4,066,748	4,072,109
Raw land	565,555	777,287
Total Inventory	7,370,152	6,770,655
Total Assets	9,535,553	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	$ 435,716	$ 609,282

Debt (Summary of Senior Notes)

Debt (Summary of Senior Notes) (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016	Jul. 01, 2016	Feb. 29, 2016
Debt Instrument [Line Items]
Joint venture debt company proportionate share total	$ 52,500,000
Net premiums, discounts, and issuance costs	(13,016,000)	$ (12,984,000)
Senior notes	3,109,984,000	3,110,016,000
7.625% unsecured senior notes due October 2017 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 123,000,000	$ 123,000,000
Stated interest rate	7.625%	7.625%
4.250% unsecured senior notes due March 2021 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 700,000,000	$ 700,000,000	$ 400,000,000	$ 300,000,000
Stated interest rate	4.25%	4.25%	4.25%	4.25%
5.500% unsecured senior notes due March 2026 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 700,000,000	$ 700,000,000		$ 700,000,000
Stated interest rate	5.50%	5.50%		5.50%
5.000% unsecured senior notes due January 2027 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 600,000,000	$ 600,000,000	$ 600,000,000
Stated interest rate	5.00%	5.00%	5.00%
7.875% unsecured senior notes due June 2032 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 300,000,000	$ 300,000,000
Stated interest rate	7.875%	7.875%
6.375% unsecured senior notes due May 2033 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 400,000,000	$ 400,000,000
Stated interest rate	6.375%	6.375%
6.000% unsecured senior notes due February 2035 | Senior Notes
Debt Instrument [Line Items]
Face amount	$ 300,000,000	$ 300,000,000
Stated interest rate	6.00%	6.00%

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 26, 2017	Oct. 13, 2017	Dec. 31, 2016	Jul. 01, 2016	Feb. 29, 2016
Debt Instrument [Line Items]
Letters of credit outstanding	$ 244,700,000			$ 219,100,000
Line of credit facility, remaining borrowing capacity	422,300,000
Notes payable	$ 24,800,000			19,300,000
Debt instrument term	4 years
Joint venture debt total	$ 55,800,000
Joint venture debt company proportionate share total	52,500,000
Long-term line of credit	$ 245,824,000			331,621,000
Maximum
Debt Instrument [Line Items]
Stated interest rate	8.25%
Unconsolidated Joint Ventures
Debt Instrument [Line Items]
Equity method investment, ownership percentage	50.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 750,000,000
Maximum additional issuance	375,000,000
Line of credit, current	83,000,000			0
Revolving Credit Facility Accordion Feature
Debt Instrument [Line Items]
Maximum borrowing capacity	1,250,000,000
Revolving Credit Facility Accordion Feature | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,000,000,000
Line of Credit | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	300,000,000	$ 475,000,000
Long-term line of credit	245,800,000			331,600,000
Line of Credit | Maximum | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	400,000,000
Line of Credit | Minimum | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	250,000,000
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	$ 400,000,000	$ 300,000,000
Stated interest rate	4.25%			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		$ 700,000,000
Stated interest rate	5.50%			5.50%		5.50%
Senior Notes | Senior Unsecured Notes July 2016
Debt Instrument [Line Items]
Face amount					$ 1,000,000,000
Senior Notes | 5.000% unsecured senior notes due January 2027
Debt Instrument [Line Items]
Face amount	$ 600,000,000			$ 600,000,000	$ 600,000,000
Stated interest rate	5.00%			5.00%	5.00%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Class of Stock [Line Items]
Dividends	$ 83,685	$ 93,127
Payments for repurchase of common stock	$ 665,812	$ 350,846
Share repurchase plan
Class of Stock [Line Items]
Share repurchases (shares)	27.8	17.7
Payments for repurchase of common stock	$ 659,800	$ 347,700
Remaining value of stock repurchase programs authorization	345,000
Shares withheld to pay taxes
Class of Stock [Line Items]
Payments for repurchase of common stock	$ 6,000	$ 3,200

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective income tax	(33.80%)	(39.50%)	(30.20%)	(36.60%)
Deferred tax assets, net	$ 939,759		$ 939,759		$ 1,049,408
Gross unrecognized tax benefits	12,100		12,100		21,500
Accrued interest and penalties on unrecognized tax benefits	2,200		2,200		12,200
Possible decrease in unrecognized tax benefits	$ 8,700		$ 8,700
New Accounting Pronouncement, Early Adoption, Effect | Retained Earnings | Accounting Standards Update 2016-09, Excess Tax Benefit Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption					18,600
Deferred income tax assets, net					$ 18,600

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Disclosed at fair value:
Financial Services debt	$ 83,000
Revolving credit facility	83,000	$ 0
Level 2
Disclosed at fair value:
Financial Services debt	245,824	331,621
Revolving credit facility	83,000	0
Senior notes	3,356,459	3,112,297
Level 1
Disclosed at fair value:
Cash and equivalents (including restricted cash)	197,097	723,248
Land held for sale | Fair Value, Measurements, Nonrecurring | Level 2
Measured at fair value on a non-recurring basis:
Fair value	0	1,670
House and land inventory | Fair Value, Measurements, Nonrecurring | Level 3
Measured at fair value on a non-recurring basis:
Fair value	0	8,920
Interest rate lock commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Fair value	10,034	8,693
Forward contracts | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Fair value	517	7,081
Whole loan commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Fair value		272
Fair value	(589)
Residential Mortgage | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Fair value	$ 364,734	$ 539,496

Fair Value Disclosures Narrativ

Fair Value Disclosures Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Senior notes	$ 3,109,984	$ 3,110,016

Commitments and Contingencies43

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 244,700		$ 244,700			$ 219,100
Surety bonds outstanding	1,200,000		$ 1,200,000			1,100,000
Litigation Settlement, Expense		$ 15,000		$ 15,000
Maximum product warranty in years			10 years
Self-insurance liabilities	$ 824,625	$ 931,950	$ 824,625	$ 931,950	$ 814,756	831,058	$ 936,711	$ 924,563
Incurred but not reported percentage of liability reserves	69.00%		69.00%
Write-off of insurance receivables	5,326		20,326
litigation of recorded insurance receivable			$ 77,500
Other Assets
Loss Contingencies [Line Items]
Recorded insurance receivables	$ 261,100		$ 261,100			$ 307,300

Commitments and Contingencies44

Commitments and Contingencies (Changes To Anticipated Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Loss Contingency Accrual [Roll Forward]
Liabilities, beginning of period	$ 34,934	$ 35,945	$ 35,114	$ 46,381
Reserves provided (released), net	(39)	(138)	(44)	629
Payments	(152)	(264)	(327)	(11,467)
Liabilities, end of period	$ 34,743	$ 35,543	$ 34,743	$ 35,543

Commitments and Contingencies45

Commitments and Contingencies (Changes To Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liabilities, beginning of period	$ 73,353	$ 61,839	$ 66,134	$ 61,179
Reserves provided	12,286	19,221	35,374	45,744
Payments	(14,679)	(14,886)	(43,594)	(40,548)
Other adjustments (a)	265	(1,753)	13,311	(1,954)
Warranty liabilities, end of period	71,225	$ 64,421	$ 71,225	$ 64,421
Florida
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranty expense	$ 12,300

Commitments and Contingencies46

Commitments and Contingencies (Changes in Self-insurance Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Changes in Self-insurance Liability [Roll Forward]
Balance, beginning of period	$ 814,756	$ 936,711	$ 831,058	$ 924,563
Reserves provided, net	24,361	21,674	62,970	67,190
Adjustments to previously recorded reserves (a)	(511)	(1,441)	(22,304)	(1,889)
Payments, net (b)	(13,981)	(24,994)	(47,099)	(57,914)
Balance, end of period	$ 824,625	$ 931,950	824,625	$ 931,950
Gain (loss) related to litigation settlement			$ 19,800

Supplemental Guarantor Inform47

Supplemental Guarantor Information (Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and equivalents	$ 158,237	$ 698,882
Restricted cash	38,860	24,366
House and land inventory	7,370,152	6,770,655
Land held for sale	96,149	31,728
Residential mortgage loans available-for-sale	364,734	539,496
Investments in unconsolidated entities	61,497	51,447
Other assets	797,439	857,426
Intangible assets	144,442	154,792
Deferred tax assets, net	939,759	1,049,408
Investments in subsidiaries and intercompany accounts, net	0	0
Total assets	9,971,269	10,178,200
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	2,187,376	2,077,200
Financial Services debt	245,824	331,621
Financial Services debt	83,000
Senior notes	3,109,984	3,110,016
Total liabilities	5,626,184	5,518,837
Total shareholders’ equity	4,345,085	4,659,363	$ 4,672,032	$ 4,759,325
Total liabilities and shareholders' equity	9,971,269	10,178,200
Eliminating Entries
ASSETS
Cash and equivalents	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	(14,093,727)	(13,304,108)
Total assets	(14,093,727)	(13,304,108)
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	0	0
Financial Services debt	0	0
Financial Services debt	0
Senior notes	0	0
Total liabilities	0	0
Total shareholders’ equity	(14,093,727)	(13,304,108)
Total liabilities and shareholders' equity	(14,093,727)	(13,304,108)
PulteGroup, Inc.
ASSETS
Cash and equivalents	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	119	105
Other assets	10,793	12,364
Intangible assets	0	0
Deferred tax assets, net	940,922	1,051,351
Investments in subsidiaries and intercompany accounts, net	6,713,036	6,835,075
Total assets	7,664,870	7,898,895
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	126,801	129,516
Financial Services debt	0	0
Financial Services debt	83,000
Senior notes	3,109,984	3,110,016
Total liabilities	3,319,785	3,239,532
Total shareholders’ equity	4,345,085	4,659,363
Total liabilities and shareholders' equity	7,664,870	7,898,895
Guarantor Subsidiaries
ASSETS
Cash and equivalents	104,487	588,353
Restricted cash	37,685	22,832
House and land inventory	7,270,051	6,707,392
Land held for sale	96,149	31,218
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	55,720	46,248
Other assets	633,108	716,923
Intangible assets	144,442	154,792
Deferred tax assets, net	0	0
Investments in subsidiaries and intercompany accounts, net	130,933	(376,748)
Total assets	8,472,575	7,891,010
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,873,135	1,755,756
Financial Services debt	0	0
Financial Services debt	0
Senior notes	0	0
Total liabilities	1,873,135	1,755,756
Total shareholders’ equity	6,599,440	6,135,254
Total liabilities and shareholders' equity	8,472,575	7,891,010
Non-Guarantor Subsidiaries
ASSETS
Cash and equivalents	53,750	110,529
Restricted cash	1,175	1,534
House and land inventory	100,101	63,263
Land held for sale	0	510
Residential mortgage loans available-for-sale	364,734	539,496
Investments in unconsolidated entities	5,658	5,094
Other assets	153,538	128,139
Intangible assets	0	0
Deferred tax assets, net	(1,163)	(1,943)
Investments in subsidiaries and intercompany accounts, net	7,249,758	6,845,781
Total assets	7,927,551	7,692,403
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	187,440	191,928
Financial Services debt	245,824	331,621
Financial Services debt	0
Senior notes	0	0
Total liabilities	433,264	523,549
Total shareholders’ equity	7,494,287	7,168,854
Total liabilities and shareholders' equity	$ 7,927,551	$ 7,692,403

Supplemental Guarantor Inform48

Supplemental Guarantor Information (Statement of Operations and Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Homebuilding
Home sale revenues	$ 2,055,891	$ 1,881,718	$ 5,606,953	$ 5,027,843
Land sale revenues	27,176	13,167	36,746	20,604
Total homebuilding revenues	2,083,067	1,894,885	5,643,699	5,048,447
Financial Services	46,952	48,020	135,995	126,950
Consolidated revenues	2,130,019	1,942,905	5,779,694	5,175,397
Homebuilding Cost of Revenues:
Home sale cost of revenues	(1,564,605)	(1,417,705)	(4,332,221)	(3,766,302)
Land sale cost of revenues	(25,123)	(11,428)	(115,950)	(17,859)
Total cost of revenues	(1,589,728)	(1,429,133)	(4,448,171)	(3,784,161)
Financial Services expenses	(29,304)	(26,906)	(86,150)	(79,204)
Selling, general, and administrative expenses	(237,495)	(250,914)	(689,974)	(749,502)
Other expense, net	(5,243)	(23,617)	(25,337)	(42,402)
Intercompany interest	0	0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	268,249	212,335	530,062	520,128
Income tax (expense) benefit	(90,710)	(83,865)	(160,255)	(190,598)
Income (loss) before equity in income (loss) of subsidiaries	177,539	128,470	369,807	329,530
Equity in income (loss) of subsidiaries	0	0	0	0
Net income	177,539	128,470	369,807	329,530
Other comprehensive income	20	20	61	61
Comprehensive income (loss)	177,559	128,490	369,868	329,591
Eliminating Entries
Homebuilding
Home sale revenues	0	0	0	0
Land sale revenues	0	0	0	0
Total homebuilding revenues	0	0	0	0
Financial Services	0	0	0	0
Consolidated revenues	0	0	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues	0	0	0	0
Land sale cost of revenues	0	0	0	0
Total cost of revenues	0	0	0	0
Financial Services expenses	0	0	0	0
Selling, general, and administrative expenses	0	0	0	0
Other expense, net	0	0	0	0
Intercompany interest	0	0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Income (loss) before equity in income (loss) of subsidiaries	0	0	0	0
Equity in income (loss) of subsidiaries	(310,050)	(227,114)	(604,219)	(624,777)
Net income	(310,050)	(227,114)	(604,219)	(624,777)
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	(310,050)	(227,114)	(604,219)	(624,777)
PulteGroup, Inc.
Homebuilding
Home sale revenues	0	0	0	0
Land sale revenues	0	0	0	0
Total homebuilding revenues	0	0	0	0
Financial Services	0	0	0	0
Consolidated revenues	0	0	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues	0	0	0	0
Land sale cost of revenues	0	0	0	0
Total cost of revenues	0	0	0	0
Financial Services expenses	0	0	0	0
Selling, general, and administrative expenses	0	0	0	0
Other expense, net	(96)	(823)	(354)	(1,164)
Intercompany interest	(756)	(487)	(1,634)	(1,487)
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(852)	(1,310)	(1,988)	(2,651)
Income tax (expense) benefit	945	498	1,377	1,008
Income (loss) before equity in income (loss) of subsidiaries	93	(812)	(611)	(1,643)
Equity in income (loss) of subsidiaries	177,446	129,282	370,418	331,173
Net income	177,539	128,470	369,807	329,530
Other comprehensive income	20	20	61	61
Comprehensive income (loss)	177,559	128,490	369,868	329,591
Guarantor Subsidiaries
Homebuilding
Home sale revenues	2,032,391	1,871,284	5,554,349	5,011,027
Land sale revenues	26,907	13,167	34,171	19,069
Total homebuilding revenues	2,059,298	1,884,451	5,588,520	5,030,096
Financial Services	0	0	0	0
Consolidated revenues	2,059,298	1,884,451	5,588,520	5,030,096
Homebuilding Cost of Revenues:
Home sale cost of revenues	(1,545,712)	(1,406,471)	(4,288,754)	(3,750,011)
Land sale cost of revenues	(24,896)	(11,428)	(113,899)	(16,577)
Total cost of revenues	(1,570,608)	(1,417,899)	(4,402,653)	(3,766,588)
Financial Services expenses	(121)	(145)	(384)	(405)
Selling, general, and administrative expenses	(225,845)	(244,904)	(653,930)	(729,629)
Other expense, net	(11,623)	(26,166)	(46,339)	(56,599)
Intercompany interest	0	(2,072)	0	(6,290)
Income (loss) before income taxes and equity in income (loss) of subsidiaries	251,101	193,265	485,214	470,585
Income tax (expense) benefit	(84,666)	(76,552)	(143,324)	(171,535)
Income (loss) before equity in income (loss) of subsidiaries	166,435	116,713	341,890	299,050
Equity in income (loss) of subsidiaries	18,040	21,948	36,307	31,827
Net income	184,475	138,661	378,197	330,877
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	184,475	138,661	378,197	330,877
Non-Guarantor Subsidiaries
Homebuilding
Home sale revenues	23,500	10,434	52,604	16,816
Land sale revenues	269	0	2,575	1,535
Total homebuilding revenues	23,769	10,434	55,179	18,351
Financial Services	46,952	48,020	135,995	126,950
Consolidated revenues	70,721	58,454	191,174	145,301
Homebuilding Cost of Revenues:
Home sale cost of revenues	(18,893)	(11,234)	(43,467)	(16,291)
Land sale cost of revenues	(227)	0	(2,051)	(1,282)
Total cost of revenues	(19,120)	(11,234)	(45,518)	(17,573)
Financial Services expenses	(29,183)	(26,761)	(85,766)	(78,799)
Selling, general, and administrative expenses	(11,650)	(6,010)	(36,044)	(19,873)
Other expense, net	6,476	3,372	21,356	15,361
Intercompany interest	756	2,559	1,634	7,777
Income (loss) before income taxes and equity in income (loss) of subsidiaries	18,000	20,380	46,836	52,194
Income tax (expense) benefit	(6,989)	(7,811)	(18,308)	(20,071)
Income (loss) before equity in income (loss) of subsidiaries	11,011	12,569	28,528	32,123
Equity in income (loss) of subsidiaries	114,564	75,884	197,494	261,777
Net income	125,575	88,453	226,022	293,900
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	$ 125,575	$ 88,453	$ 226,022	$ 293,900

Supplemental Guarantor Inform49

Supplemental Guarantor Information (Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Net cash provided by (used in) operating activities	$ 252,479	$ (306,506)
Cash flows from investing activities:
Capital expenditures	(23,548)	(30,551)
Cash used for business acquisition	0	(430,458)
Investment in unconsolidated subsidiaries	(22,007)	(14,049)
Other investing activities, net	5,788	5,473
Net cash used in investing activities	(39,767)	(469,585)
Cash flows from financing activities:
Financial Services borrowings (repayments)	(85,797)	(109,083)
Proceeds from debt issuance	0	1,995,961
Repayments of debt	(7,001)	(985,734)
Borrowings under revolving credit facility	971,000	619,000
Repayments under revolving credit facility	(888,000)	(619,000)
Stock option exercises	22,765	5,845
Share repurchases	(665,812)	(350,846)
Dividends paid	(86,018)	(94,298)
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	(738,863)	461,845
Net increase (decrease)	(526,151)	(314,246)
Cash, cash equivalents, and restricted cash at beginning of period	723,248	775,435
Cash, cash equivalents, and restricted cash at end of period	197,097	461,189
Eliminating Entries
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Cash used for business acquisition		0
Investment in unconsolidated subsidiaries	0	0
Other investing activities, net	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Financial Services borrowings (repayments)	0	0
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
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	0	0
Net increase (decrease)	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0
Cash, cash equivalents, and restricted cash at end of period	0	0
PulteGroup, Inc.
Net cash provided by (used in) operating activities	58,575	159,366
Cash flows from investing activities:
Capital expenditures	0	0
Cash used for business acquisition		0
Investment in unconsolidated subsidiaries	0	0
Other investing activities, net	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Financial Services borrowings (repayments)	0	0
Proceeds from debt issuance	0	1,991,961
Repayments of debt	0	(965,245)
Borrowings under revolving credit facility	971,000	619,000
Repayments under revolving credit facility	(888,000)	(619,000)
Stock option exercises	22,765	5,845
Share repurchases	(665,812)	(350,846)
Dividends paid	(86,018)	(94,298)
Intercompany activities, net	587,490	(746,783)
Net cash provided by (used in) financing activities	(58,575)	(159,366)
Net increase (decrease)	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0
Cash, cash equivalents, and restricted cash at end of period	0	0
Guarantor Subsidiaries
Net cash provided by (used in) operating activities	43,042	(562,165)
Cash flows from investing activities:
Capital expenditures	(19,693)	(28,243)
Cash used for business acquisition		(430,458)
Investment in unconsolidated subsidiaries	(22,007)	(14,049)
Other investing activities, net	5,728	3,913
Net cash used in investing activities	(35,972)	(468,837)
Cash flows from financing activities:
Financial Services borrowings (repayments)	0	0
Proceeds from debt issuance	0	4,000
Repayments of debt	(6,031)	(20,394)
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	(470,052)	788,043
Net cash provided by (used in) financing activities	(476,083)	771,649
Net increase (decrease)	(469,013)	(259,353)
Cash, cash equivalents, and restricted cash at beginning of period	611,185	658,876
Cash, cash equivalents, and restricted cash at end of period	142,172	399,523
Non-Guarantor Subsidiaries
Net cash provided by (used in) operating activities	150,862	96,293
Cash flows from investing activities:
Capital expenditures	(3,855)	(2,308)
Cash used for business acquisition		0
Investment in unconsolidated subsidiaries	0	0
Other investing activities, net	60	1,560
Net cash used in investing activities	(3,795)	(748)
Cash flows from financing activities:
Financial Services borrowings (repayments)	(85,797)	(109,083)
Proceeds from debt issuance	0	0
Repayments of debt	(970)	(95)
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	(117,438)	(41,260)
Net cash provided by (used in) financing activities	(204,205)	(150,438)
Net increase (decrease)	(57,138)	(54,893)
Cash, cash equivalents, and restricted cash at beginning of period	112,063	116,559
Cash, cash equivalents, and restricted cash at end of period	$ 54,925	$ 61,666